FG awards first PIA petroleum exploration license to Lagos-based firm
Federal Government, through the Nigerian Upstream Petroleum Commission (NUPRC), has granted a non-exclusive Petroleum Exploration License to TGS-PetroData Offshore Services Limited, which is the first of such license to be issued under the Petroleum Industry Act (PIA) 2021.
The license, which was granted by the Nigerian Upstream Petroleum Commission (NUPRC), was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
TGS-PetroData Offshore Services Limited is listed as an Explorations and Production (E&P) operations provider in Nigeria ‘with quality geoscience products and services.’
The company offers seismic data and processing services, digital wellbore data, and geological and geophysical interpretation studies and services.
The Alausa, Ikeja, Lagos-based computer programming, consultancy and related activities company listed; James Martin, Robert Wall, Tanya Herwanger, Wole Shebioba, Rchard Adelu Dosu as its Directors, with Jim TGS Geophysical Investments Limited, Wole Petrodata Management Services Limited, and Tinubu Omobola as shareholders.
Disclosing the award, Thursday, Chief Executive, NUPRC, Gbenga Komolafe, said the Petroleum Exploration License was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the license was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
“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.
“The license 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,” Komolafe stated.
On the rise in Nigeria’s rigs count, the NUPRC boss noted that in the years preceding the enactment of the PIA, investments in the Nigerian oil and gas industry declined mostly due to regulatory uncertainty, de-funding of fossil fuel development occasioned by energy transition and the global call for decarbonisation.
