The Nigerian Upstream Petroleum Regulatory Fee (NUPRC) has signed a Petroleum Exploration Licence (PEL) No. 5 Treaty with SeaSeisGeophysical Restricted (SeaSeis), authorising the corporate, in partnership with the fee and TGS, to undertake the acquisition and processing of recent 3D seismic and gravity information.
The three-year Treaty additionally empowers the partnership to problem data-use licences, with revenues to be shared between the corporate and the Fee.
The official execution of the Treaty between SeaSeisGeophysical Restricted and its companion, TGS, was held on the Fee’s headquarters in Abuja, a press release by the corporate’s spokesman, Eniola Akinkuotu, mentioned on Wednesday.
The key seismic information acquisition challenge, PEL No.5, covers an space of 11,700 sq. kilometres offshore the Japanese Niger Delta in water depths of 400-2800 meters.
The licence is predicted to unlock stronger prospectivity, improve subsurface understanding, and assist extra environment friendly growth of Nigeria’s hydrocarbon assets consistent with Part 71(1-10) of the Petroleum Trade Act (PIA) 2021, the NUPRC mentioned.
Talking on the occasion, the Fee Chief Govt, Mrs. OritsemeyiwaEyesan, mentioned the issuance of the PEL5 licence displays the fee’s continued dedication to data-driven exploration, transparency, and long-term worth creation for Nigeria and the oil and gasoline sector.
Eyesan famous that exploration is essentially pushed by confidence in information and processes, including that the PELNo. 5 initiative underscores the significance of credible partnerships in reaching nationwide production and reserve development targets.
“The PIA recognises that we assign licences on non-exclusive acreages to contractors who’re keen to hold out exploration exercise, and because the chief superintendent of the trade, we additionally be certain that we preserve our production targets, together with reserves and the one means we will obtain that efficiently is that if now we have companions who’re keen to discover,” the CCE mentioned.
The NUPRC boss additional acknowledged that the execution of the PEL No. 5 licencesignals a rising urge for food for exploration actions inside the sector.
In his remarks, the Managing Director of SeaSeisGeophysical Restricted, MrGoke Adeniyi, described the PEL5 as the corporate’s largest challenge in Africa, noting that it underscores the dimensions of alternative inside Nigeria’s upstream sector.
He additional famous that the PEL 5 space have been rigorously chosen – protecting roughly 11,700 sq km within the Outer Fold & Thrust Belt of the japanese Niger Delta — Nigeria’s most prolific however geologically advanced area.
“We’re assured that the resultant Excessive constancy 3D seismic information will present operators with the information high quality wanted to judge prospects with higher confidence,” he acknowledged.
In the meantime, the federal authorities has inaugurated an inter-ministerial committee to drive the operationalisation and administration of Host Neighborhood Improvement Trusts (HCDTs), consistent with the provisions of the Petroleum Trade Act (PIA).
The inauguration, which occurred in Abuja was presided over by the Everlasting Secretaries of the Ministry of Petroleum Assets and the Ministry of Regional Improvement, marking a major step towards strengthening coordination and enhancing the supply of growth initiatives to host communities.
In her handle on the inauguration ceremony, Everlasting Secretary, Ministry of Petroleum Assets, Mrs. Endurance Oyekunle, underscored the strategic significance of the committee in advancing the implementation of HCDTs and guaranteeing that advantages accrue meaningfully to host communities. She famous that the inauguration builds on a collection of engagements convened by the ministry since 2025 to deepen collaboration amongst key stakeholders.
Offering additional perception, she highlighted updates offered by the NUPRC, which mirrored measurable progress within the implementation course of. She added that regulatory oversight is being strengthened via the Host Neighborhood Digital Portal, a platform designed to trace incorporation progress, remittances, approvals, compliance ranges, and challenge execution milestones.
Area verification workout routines and different dispute decision mechanisms, she famous, have additionally been built-in into the oversight framework to make sure transparency and accountability.
She acknowledged that the Minister of State for Petroleum Assets (Oil), Senator Heineken Lokpobiri, permitted the structure of the committee to behave in alignment with the PIA rules, emphasising that the committee is designed to perform strictly as a collaborative and advisory physique.
In her remarks, the Everlasting Secretary, Ministry of Regional Improvement, Dr. Mary Ogbe, acknowledged the progress recorded to date and expressed optimism that members of the committee would apply themselves diligently to make sure success.
The committee’s Phrases of Reference centre on facilitating inter-agency collaboration and serving as an advisory platform for efficient data sharing on HCDTs implementation. It is usually mandated to advertise transparency, accountability, and impactful interventions that ship most advantages to host communities, whereas guaranteeing that HCDT constructions are correctly constituted with real group illustration.
Moreover, the committee will assess HCDT-funded tasks and suggest obligatory enhancements, coordinate with related ministries and growth commissions to forestall duplication of programmes.
Emmanuel Addeh
Times Nigeria