NUPRC and SeaSeis Sign Landmark PEL5 Agreement

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has entered into a significant agreement with SeaSeis Geophys Limit and TG, signing the Petroleum Exploration License (PEL No. 5) on Tuesday at the commission's headquarters in Abuja. This three-year agreement allows for the acquisition of new 3D seismic gravity data over an area of 11,700 square kilometers in the eastern Niger Delta, with water depths ranging from 400 to 2,800 meters.

The initiative aims to enhance subsurface understanding and support efficient development of Nigeria's hydrocarbon resources. NUPRC Chief Executive Mr. Oritsemeyiwa Eyesan emphasized the commission's commitment to data-driven exploration and long-term value creation in the oil and gas sector.

The PEL No. 5 license is expected to unlock stronger prospects and enhance the credibility of partnerships in achieving national production and reserve growth targets. Mr. Goke Adeniyi, Managing Director of SeaSeis Geophys Limit, described this project as the company's largest in Africa, highlighting the scale of opportunities within Nigeria's upstream sector.