NUPRC signs 3D seismic deal to de-risk Nigeria’s oil investments

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The Nigerian Upstream Petroleum Regulatory Commission has signed a Petroleum Exploration Licence No. 5 agreement with SeaSeisGeophysical Limited, authorising the company, in partnership with the Commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data.

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The three-year deal, signed at the Commission’s headquarters in Abuja on Tuesday, is expected to deepen subsurface understanding across a vast offshore acreage and provide high-quality data to guide future exploration and investment decisions.

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A statement issued by the Commission’s Head of Corporate Communications and Media, Eniola Akinkuotu, said the project covers about 11,700 square kilometres in the offshore Eastern Niger Delta, spanning water depths of between 400 and 2,800 metres.

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The statement read, “The Nigerian Upstream Petroleum Regulatory Commission has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited (SeaSeis), authorising the company, in partnership with the Commission and TGS, to undertake the acquisition and processing of new 3D seismic and gravity data. The three-year agreement also empowers the partnership to issue data-use licences, with revenues to be shared between the company and the Commission.”

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The latest move underscores the growing importance of data as the foundation for oil discovery and investment decisions

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The major seismic data acquisition project, PEL No.5, covers an area of 11,700 square kilometres offshore the Eastern Niger Delta in water depths of 400-2800 meters.

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The licence is expected to unlock stronger prospectivity, enhance subsurface understanding, and support more efficient development of Nigeria’s hydrocarbon resources in line with Section 71(1-10) of the Petroleum Industry Act (PIA) 2021.

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Speaking at the event, the Commission Chief Executive, Oritsemeyiwa Eyesan, said the issuance of the PEL5 licence reflects the Commission’s continued commitment to data-driven exploration, transparency, and long-term value creation for Nigeria and the oil and gas sector.

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Eyesan noted that exploration is fundamentally driven by confidence in data and processes, adding that the PELNo. 5 initiative underscores the importance of credible partnerships in achieving national production and reserve growth targets.

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“The PIA recognises that we assign licenses on non-exclusive acreages to contractors who are willing to carry out exploration activity, and as the chief superintendent of the industry, we also ensure that we maintain our production targets, including reserves and the only way we can achieve that successfully is if we have partners who are willing to explore,” the CCE said.

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The NUPRC boss further stated that the execution of the PEL No. 5 licence signals a growing appetite for exploration activities within the sector.

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In his remarks, the Managing Director of SeaSeis Geophysical Limited, Goke Adeniyi, described the PEL5 as the company’s largest project in Africa, noting that it underscores the scale of opportunity within Nigeria’s upstream sector.

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Adeniyi said, “We are pleased to be here, not just as SEASEIS but in partnership with TGS”

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He further noted that the PEL 5 area has been carefully selected – covering approximately 11,700 sq km in the Outer Fold & Thrust Belt of the eastern Niger Delta — Nigeria’s most prolific but geologically complex region.

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“Using TGS GeoStreamer dual-sensor tech with long offsets, wide tow and triple-source – broadband acquisition technology.

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“We are confident that the resultant high-fidelity 3D seismic data will provide operators with the data quality needed to evaluate prospects with greater confidence,” he stated.

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The targeted acreage, located within the Outer Fold and Thrust Belt of the eastern Niger Delta, is one of Nigeria’s most promising yet technically challenging hydrocarbon zones.

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The terrain has historically limited exploration due to its complex geological structures, but advances in seismic technology are now making it more accessible.

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Nigeria has struggled in recent years to significantly grow its oil reserves, despite being Africa’s largest crude producer.

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While existing fields in the Niger Delta have matured, exploration activities have slowed, partly due to funding constraints, regulatory uncertainty and technical challenges in frontier basins.

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At the same time, global competition for capital has intensified, with investors demanding clearer data and lower risks before committing funds.

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By unlocking clearer insights into Nigeria’s complex offshore geology, the initiative is expected to enhance prospectivity, de-risk investments and ultimately support the country’s long-term production and reserve growth ambitions.

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