Nigeria, March 26 -- The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has signed a Petroleum Exploration Licence (PEL) No. 5 agreement with SeaSeis Geophysical Limited, authorising the firm, in partnership with the commission and TGS, to acquire and process new 3D seismic and gravity data.

This was disclosed in a statement issued on Wednesday by the Commission in Abuja.

According to the statement, the agreement was signed on Tuesday at the commission's headquarters in Abuja and will run for three years. It also empowers the partners to issue data-use licences, with revenues to be shared between the company and the commission.

The project, described as a major seismic data acquisition effort, covers about 11,700 square kilo...