The NUPRC Chief Executive, Gbenga Komolafe, in a statement
on Thursday, said the granting of the license is in compliance with the
provisions of Section 71 (1) – (10) of the Petroleum Industry Act (PIA) 2021.
Mr Komolafe explained 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.
He said the development is another milestone in the smooth
implementation of the PIA for the attraction of investment in the oil and gas
sector in Nigeria.
“Without data, reserves cannot be auctioned for development
and revenue attraction. Data acquired under the PEL is not proprietary but
speculative/multi-client survey data acquired in partnership with the NUPRC,”
he said.
He added that 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.
Mr Komolafe said due to the specialised nature of the
geophysical survey vessel to be used for the acquisition of the 3D seismic and
gravity data, the Nigerian Content Development and Monitoring Board (NCDMB)
granted no objection to TGS-PD to deploy the facility.
“The acquisition of the 3D seismic and gravity data
commenced on 17 July 2023, and the processed data will be available for use by
mid-2024,” he said.
He noted that the scope of the geophysical survey project
include Phase 1 acquisition of about 11,900 sq. km of new 3D seismic and
gravity data in water depths ranging from 30m to 4000m offshore Niger Delta.
“Acquiring seismic and gravity data at the same time will improve
the correlation of identified structures and reservoirs.
“Record length of 14 seconds. This is the first of its kind
in Nigeria. This will image deeper reservoirs that have not been imaged
offshore Niger Delta before now.
“The acquired seismic and gravity data will be processed
using the latest TGS proprietary technology and the acquired data will be
licensed to exploration companies,” he said.
The official listed benefits that Nigeria will derive from
the new 3D seismic and gravity data acquisition.
“Availability of new regional 3D seismic and gravity data in
deep waters ranging from 30m to 4000m offshore Niger Delta. The Commission has
the sole right and title over the acquired raw and interpreted data to be
obtained by the licensee (TGS-PD) under a petroleum exploration licence,” he
added.
Therefore, he said the 3D seismic and gravity data belongs
to the Nigerian government.
Based on section 71(7) of the PIA, he said the commission
and the federal government of Nigeria shall benefit from the revenue that will
be generated from the data use licence that will be granted to interested
exploration companies by TGS-PD.
He further explained that the new 3D seismic and gravity
data being acquired will further provide an opportunity for understanding the
regional petroleum system of the ultra-deep waters of Nigeria and unlock the
hydrocarbon prospectivity of Nigeria’s frontier basins (Ultra-deep offshore).
“The 3D seismic and gravity data when acquired will be
useful in future deep water licensing rounds which will attract Foreign Direct
Investments (FDIs) into oil and gas exploration in Nigeria” and “create
opportunities for increasing oil and gas reserves and production and create
opportunities for Nigerian Content Development and employment of Nigerian
professionals,” he said.
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