Nigeria grants first petroleum exploration licence under PIA

The Nigerian Upstream Petroleum Commission (NUPRC) has granted a Petroleum Exploration Licence (PEL) to TGS-PetroData Offshore Services Limited (TGS-PD). This is in accordance with the provisions of Section 71 (1) – (10) of the Petroleum Industry Act (PIA) 2021. The Commission’s Chief Executive Officer, Engr Gbenga Komolafe made this known in a statement released yesterday.

He noted that the PEL is the first under the PIA 2021 and is under the licence agreement which the Commission and TGS-PD executed for a Geophysical Survey Project for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data.

According to him, the development is another milestone in the smooth implementation of the PIA for the attraction of investment in the oil and gas sector in the country. Komolafe said the data acquired under the PEL is not proprietary but speculative / multi-client survey data acquired in partnership with the NUPRC.

“The licence therefore authorises 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 commenced on July 17, and the processed data will be available for use by mid-2024.

Meanwhile, Komolafe called on operators in the African oil and gas business to see the theme of the Africa Oil Week as a call for action and a charge for enhanced collaboration in unlocking the vast opportunities for cleaner development and energy security.

The Nation


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