Nigeria issues its first petroleum exploration license under PIA

Nigerian Upstream Petroleum Commission (NUPRC) has issued a Petroleum Exploration Licence (PEL) to TGS-PetroData Offshore Services Limited (TGS-PD), following the guidelines outlined in Section 71 (1) – (10) of the Petroleum Industry Act (PIA) 2021. The announcement was made by the Commission’s CEO, Engr Gbenga Komolafe, in a statement.

He pointed out that this PEL, the first under the PIA 2021, is part of the license agreement signed between the Commission and TGS-PD. It is specifically related to a Geophysical Survey Project involving the acquisition of approximately 56,000 square kilometers of 3D seismic and gravity data.

He emphasized that this development represents another significant achievement in the seamless implementation of the PIA, aimed at attracting investment in the nation’s oil and gas sector. Komolafe clarified that the data obtained through this PEL is not proprietary; rather, it consists of speculative and multi-client survey data acquired in collaboration with the NUPRC.

“The license therefore authorizes TGS-PetroData Offshore to carry out non-exclusive Petroleum Exploration Operations on a multi-client basis within the licensed area and permits the use of the acquired 3D seismic and gravity data by exploration companies,” the statement read. The acquisition of the 3D seismic and gravity data and the processed data will be available for use by mid-2024.

In the meantime, Komolafe encouraged participants in the African oil and gas industry to consider the Africa Oil Week’s theme as a call to action and a catalyst for increased collaboration in realizing the extensive opportunities for cleaner development and energy security.