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FINWIRES

BP to Acquire Interest in 3 Namibian Offshore Blocks

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Oil major BP (BP) said Monday it will acquire Eco Atlantic Oil & Gas's 60% interest in three offshore exploration blocks in Namibia for an undisclosed amount.

Once the transaction is finalized and approved by the authorities, BP will be the operator of PEL97, PEL99, and PEL 100 offshore blocks in Walvis Basin, with Eco Atlantic and National Petroleum Corp. of Namibia serving as partners.

This agreement marks BP's entry into the country as an operator, following hydrocarbon discoveries in the region through BP-Eni joint venture Azule Energy, the company said.

BP's recent exploration discoveries in Namibia include Volans-1X and Capricornus-1X in the Orange Basin.

The company's exploration portfolio has recently expanded with 12 discoveries in 2025 and another two so far this year.

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