Nigeria is the largest exporter of oil in Africa and the Niger Delta is acknowledged as one of the most prolific hydrocarbon producing basins in the world. A number of huge discoveries (Agbami, NNWA, Akpo, Bonga, Erha and others) have highlighted the Deepwater Niger Delta as a world-class petroleum province. In recent years, exploration activity has slowed, yet significant exploration potential remains and there are indications that there will be a major resurgence of both foreign and local investment in deepwater areas, with numerous farm-in opportunities currently on offer.
Polarcus Nigeria Limited, a joint venture between Polarcus and Ashbert Limited, has obtained exclusive rights from the Department of Petroleum Resources of Nigeria (DPR) to broker 11,000 sq. km of modern 3D seismic data, covering large tracts of some of the most prospective deepwater areas off the Western Niger Delta.