14/04/2026
BP secures operatorship in Namibia through acquisition of three offshore blocks in N$1.3bn deal
BP has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia’s Walvis Basin, marking its entry into the country as an operator.
The agreement, signed on 10 April 2026 with Eco (Atlantic) Oil & Gas, covers Petroleum Exploration Licences (PEL) 97, 99 and 100. Upon completion, bp will assume operatorship of the blocks, subject to regulatory approvals from the Namibian authorities and joint venture partners.
Under the deal, Eco will receive a once-off cash payment of N$44 million (US$2.7 million) on completion. BP will also carry Eco’s retained 25% interest through the current exploration phase, including covering associated costs for NAMCOR and local partners.
https://miningandenergy.com.na/bp-secures-operatorship-in-namibia-through-acquisition-of-three-offshore-blocks-in-n1-3bn-deal/
