NUPRC Sign PEL 5 Deal to Boost Offshore Oil Exploration

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited to advance offshore oil and gas exploration in Nigeria.

The agreement, signed in Abuja on Wednesday, authorises SeaSeis, in partnership with global data firm TGS, to acquire and process new 3D seismic and gravity data aimed at improving geological understanding of offshore resources.

The PEL 5 project will cover about 11,700 square kilometres offshore the Eastern Niger Delta, spanning water depths between 400 and 2,800 metres. The initiative is expected to enhance subsurface data quality, improve exploration prospects, and support more efficient development of hydrocarbon resources.

According to NUPRC, the project aligns with the provisions of the Petroleum Industry Act 2021 and reflects a broader push toward data-driven exploration and transparency in the sector.

Speaking at the signing, NUPRC Chief Executive Oritsemeyiwa Eyesan said the licence demonstrates the commission’s commitment to long-term value creation and investment attraction in Nigeria’s upstream industry. She noted that improved data availability would help unlock new opportunities and strengthen investor confidence.

SeaSeisGeophysical Limited Managing Director, Goke Adeniyi, described the PEL 5 initiative as the company’s largest project in Africa, highlighting the untapped potential within Nigeria’s offshore energy landscape.

The partnership is expected to deepen collaboration between regulators and industry players while supporting sustained growth in Nigeria’s oil and gas sector.