BP has agreed to take a 60% stake in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas, as it looks to grow its upstream portfolio. The move also builds on recent exploration progress in the country through Azule Energy.
The company will operate the three blocks, PEL97, PEL99, and PEL100, in Namibia’s Walvis Basin, pending government approval. Eco Atlantic will remain a partner alongside the national oil company, NAMCOR.
The deal will only be completed once all standard conditions are met, including approvals from Namibian authorities and joint venture partners.
Gordon Birrell, BP’s Executive Vice President for Production and Operations, said Namibia is drawing increasing industry attention and offers strong exploration potential. He added that the deal marks BP’s entry as an operator in the country and supports its long-term growth plans while contributing to resource development.
The company has made two exploration discoveries so far this year, adding to 12 discoveries in 2025 and strengthening its overall exploration position for future growth.
Since early 2025, Azule Energy, a joint venture between BP and Eni, has recorded four discoveries. These include the Algaita-01 well and Gajajeira-01 gas find in Angola, as well as the Volans-1X and Capricornus-1X discoveries in Namibia’s Orange Basin.
source: www.offshore-energy.biz
African Energy Council