Eco (Atlantic) Oil & Gas, an AIM-listed and Canada-headquartered oil and gas company focused on the Atlantic Margin, has put in place a new strategic partnership with Israel’s Navitas Petroleum, which revolves around a block off the coast of Guyana and another one offshore South Africa alongside future oil and gas cooperation.

The two companies have entered into a binding framework agreement, which will see Navitas pay Eco Atlantic $2 million to enter into an exclusive option agreement to farm into the Orinduik Block offshore Guyana and Block 1 CBK offshore South Africa.