The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has formalized a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeisGeophysical Limited (SeaSeis). This agreement permits SeaSeis, alongside the NUPRC and TGS, to gather and process new 3D seismic and gravity data.
Under the terms of the three-year contract, the partnership is also authorized to issue data-use licenses, with profits shared between SeaSeis and the Commission.
The official signing ceremony took place at the Commission's headquarters in Abuja, as reported by the company's spokesperson, Eniola Akinkuotu, on Wednesday.
The seismic data acquisition initiative, designated PEL No. 5, encompasses a vast area of 11,700 square kilometers located offshore in the Eastern Niger Delta, with water depths ranging from 400 to 2800 meters.
This license is anticipated to enhance exploration prospects, improve subsurface comprehension, and promote more efficient development of Nigeria's hydrocarbon resources, in line with the Petroleum Industry Act (PIA) 2021, as stated by the NUPRC.
During the event, NUPRC Chief Executive Mrs. Oritsemeyiwa Eyesan emphasized that the issuance of the PEL 5 license demonstrates the Commission's ongoing dedication to data-driven exploration, transparency, and the long-term value creation for Nigeria's oil and gas industry.
Mrs. Eyesan remarked that exploration relies heavily on trust in data and methods. She pointed out that the PEL No. 5 initiative highlights the significance of credible partnerships in achieving national production and reserve growth objectives.
"The PIA acknowledges our policy of granting licenses for non-exclusive acreages to contractors eager to undertake exploration activities. As the primary overseer of the industry, we must also ensure that we meet our production goals and reserves, which can only be achieved through collaborations with explorers," the Chief Executive asserted.
She further indicated that the initiation of the PEL No. 5 license signifies an increased interest in exploration activities across the sector.
Mr. Goke Adeniyi, the Managing Director of SeaSeisGeophysical Limited, referred to the PEL 5 project as the company's most substantial endeavor in Africa, highlighting the substantial opportunities present within Nigeria's upstream industry.
He also pointed out that the area designated for PEL 5 has been meticulously selected, covering an approximate 11,700 square kilometers within the Outer Fold & Thrust Belt of the eastern Niger Delta, known for its geological intricacies and productivity.
"We are confident that the high-fidelity 3D seismic data will offer operators the quality of data required for more assured evaluations of prospects," he remarked.
In a parallel development, the federal government has established an inter- ministerial committee tasked with overseeing the operationalization and management of Host Community Development Trusts (HCDTs) as mandated by the PIA.
The inauguration of this committee, which occurred in Abuja, was led by the Permanent Secretaries of the Ministry of Petroleum Resources and the Ministry of Regional Development, representing a critical advancement towards better coordination and successful delivery of development initiatives to host communities.
In her address during the inauguration, Permanent Secretary of the Ministry of Petroleum Resources, Mrs. Patience Oyekunle, highlighted the committee's crucial role in advancing the implementation of HCDTs, ensuring that tangible benefits reach host communities. She noted that this inauguration builds upon previous discussions held by the ministry since 2025 to enhance cooperation among essential stakeholders.
She provided insights into progress updates shared by the NUPRC, indicating measurable advancements in the implementation process. Enhanced regulatory oversight is being facilitated through the Host Community Digital Portal, designed to monitor incorporation progression, financial remittances, approvals, compliance rates, and project completion milestones.
She also mentioned that field verification exercises and alternative dispute resolution strategies have been integrated into the oversight framework to enhance transparency and accountability.
The committee, as approved by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, is established to operate in adherence to PIA regulations, functioning strictly as a collaborative and advisory entity.
Dr. Mary Ogbe, Permanent Secretary of the Ministry of Regional Development, commended the progress made to date, expressing hope that committee members would diligently contribute to its success.
The committee's Terms of Reference focus on enhancing inter-agency collaboration and acting as an advisory body for effective communication regarding HCDT implementation. Its objectives include ensuring transparency, accountability, and impactful initiatives that provide maximum benefits to host communities, while ensuring that HCDT structures are well-established with genuine representation from the community.
Moreover, the committee will evaluate HCDT-funded initiatives and suggest necessary improvements, working in coordination with relevant ministries and development bodies to avoid duplication of efforts.
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