Key highlights
- bp to acquire 60% of offshore Namibian blocks PEL97, PEL99 and PEL100 in the Walvis Basin from Eco Atlantic and will be operator pending Namibian government approvals
- Eco Atlantic and Namibia's national oil company NAMCOR will remain joint‑venture partners after closing
- This complements bp's activity via Azule Energy (50:50 bp/Eni), which has reported four hydrocarbon discoveries including Volans‑1X and Capricornus‑1X in Namibia and Algaita‑01 and Gajajeira‑01 in Angola
Transaction
bp will acquire a 60% interest in three offshore Namibian exploration blocks—PEL97, PEL99 and PEL100 in the Walvis Basin—from Eco Atlantic Oil & Gas and will be operator, subject to Namibian government approvals and customary closing conditions.
Partnership and operations
After closing, Eco Atlantic and Namibia’s national oil company NAMCOR will remain joint‑venture partners in the blocks.
Exploration context
The acquisition builds on recent exploration activity: bp reported two exploration discoveries since the start of the year following 12 discoveries in 2025, and Azule Energy (bp 50%/Eni 50%) has announced four hydrocarbon finds—Algaita‑01 and Gajajeira‑01 in Angola and Volans‑1X and Capricornus‑1X in Namibia’s Orange Basin.
