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UK-headquartered energy giant BP has expanded its footprint off the coast of Namibia by acquiring three exploration blocks from Eco (Atlantic) Oil & Gas, an AIM-listed and Canada-headquartered oil and gas company focused on the Atlantic Margin.
BP has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas as part of its strategy to grow its upstream portfolio. Entering these blocks is expected to enable the firm to build on its recent exploration successes in Namibia through Azule Energy.
The UK-headquartered giant will be the operator of three blocks – PEL97, PEL99, and PEL100 – in Namibia’s Walvis Basin, subject to Namibian government approvals. Eco Atlantic will remain as the firm’s partner, along with the country’s national oil company, NAMCOR.
The completion of the transaction is subject to customary closing conditions, including necessary approvals from the Namibian authorities and joint venture partners.
Gordon Birrell , BP’s Executive Vice President, Production & Operations, commented: “Namibia is a region attracting growing industry interest and has a number of exciting frontier basins.
“This agreement marks BP’s entry into the country as an operator, strengthens bp’s exploration portfolio and provides long-term growth potential. We look forward to supporting the country in developing its resources.”
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The company announced two exploration discoveries since the beginning of the year, following 12 discoveries in 2025. This is said to further strengthen the UK player’s exploration portfolio in support of long-term organic growth.
Since the beginning of 2025, Azule Energy, a 50:50 joint venture between BP and Eni, has announced four hydrocarbon discoveries: the Algaita-01 well and Gajajeira-01 gas find in Angola and the Volans-1X and Capricornus-1X discoveries in Namibia’s Orange Basin.
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