Africa Business News

The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021. It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA. The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence 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 licence 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.This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4166630/advertisement