BP has agreed to acquire a 60% interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas, widening its position in the country’s offshore sector as it continues to grow its upstream portfolio.
The agreement covers blocks PEL97, PEL99 and PEL100 in Namibia’s Walvis Basin. Subject to approvals from the Namibian government, BP will become the operator of the three blocks. Eco Atlantic Oil & Gas will remain a partner alongside national oil company NAMCOR.
The transaction remains subject to customary closing conditions, including approvals from the Namibian authorities and joint venture partners.
According to BP, the move builds on recent exploration success in Namibia through Azule Energy, its 50:50 joint venture with Eni. The company said the agreement strengthens its exploration portfolio and adds long-term growth potential.
Gordon Birrell, Executive Vice President, Production & Operations at BP, said Namibia is attracting rising industry interest and offers several frontier basin opportunities. He added that the agreement marks BP’s entry into the country as an operator and that the company looks forward to supporting Namibia in developing its resources.
Since the beginning of 2026, BP has announced two exploration discoveries, after reporting 12 discoveries in 2025. Since the beginning of 2025, Azule Energy has announced four hydrocarbon discoveries: the Algaita-01 well and the Gajajeira-01 gas find in Angola, along with the Volans-1X and Capricornus-1X discoveries in Namibia’s Orange Basin.
