Eco Atlantic acquires JHI, adds North Falkland Basin exploration exposure

Eco Atlantic signed a binding agreement to acquire all remaining shares of JHI Associates that it does not already own, expanding its upstream exploration portfolio. The acquisition adds exposure to the North Falkland Basin, where Eco will partner with Navitas on exploration activity in the PL001 license, subject to confirmation by the Falkland Islands Government.

The PL001 license is expected to receive a five-year extension, providing additional time for exploration work and potential development planning in the basin.

Eco said the transaction complements its existing Atlantic Margin portfolio offshore Namibia, South Africa, and Guyana, while adding a new exploration area with near-term work programs planned in the Falklands license area.

Development activity is also expected in the basin, with first oil from the nearby Sea Lion field targeted for 2028, which could support regional infrastructure for future projects.