The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken significant steps to boost the country’s oil production, approving a major new exploration license while also streamlining the process for bringing idle wells back online.
The Commission signed a Petroleum Exploration Licence (PEL) No. 5 agreement with a partnership led by SeaSeisGeophysical Limited and global data company TGS.
According to a statement released by NUPRC, the agreement signed on Tuesday, March 24, 2026, at the Commission’s headquarters in Abuja, authorises SeaSeisGeophysical, in partnership with the Commission and TGS, “to undertake the acquisition and processing of new 3D seismic and gravity data.”
This three-year license is focused on acquiring high-quality 3D seismic and gravity data, which is crucial for understanding underground rock formations and identifying new drilling locations.
According to the statement, the project covers approximately 11,700 square kilometers offshore the Eastern Niger Delta, in water depths ranging from 400 to 2,800 meters
The Commission said the seismic data is expected to “unlock stronger prospectivity” and “enhance subsurface understanding,” helping oil companies evaluate new drilling prospects with greater confidence and efficiency. It stated that the project is in line with Section 71(1-10) of the Petroleum Industry Act (PIA) 2021.
READ ALSO:
- NUPRC Shortlists Bidders for Nigeria’s 50 Oil Blocks
- Nigeria Loses ₦24.47trn Oil Revenue in 2 Years
- Seplat Revenue Jumps 144% After ExxonMobil Assets Acquisition
- Why Nigeria may not Benefit from Oil Price Surge
The project will use advanced GeoStreamer dual-sensor broadband technology, designed to produce clearer images of the complex geology in the Outer Fold and Thrust Belt of the Niger Delta.
Commenting on the approval of the PEL5 licence, NUPRC Chief Executive Oritsemeyiwa Eyesan stated that it underscores the commission’s commitment to data-driven exploration and is essential for meeting national production and reserve targets.
On his part, Mr Goke Adeniyi, Managing Director of SeaSeisGeophysical Limited, said the PEL5 is the company’s largest project in Africa, highlighting the size of opportunities in Nigeria’s upstream sector.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in Mass Communication. He can be reached via @VICTOREZEJA on X
