BP acquires stake in three offshore Namibia exploration blocks

BP agreed to acquire a 60% operating interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas, marking BP’s entry into the country as an operator.

Subject to Namibian government approvals, BP will operate blocks PEL97, PEL99 and PEL100 in the Walvis Basin. Eco Atlantic will remain a partner alongside Namibia’s national oil company NAMCOR following transaction close.

The acquisition builds on BP’s recent exploration activity in Namibia through Azule Energy, a 50:50 joint venture between BP and Eni. Since the start of 2025, Azule has announced four hydrocarbon discoveries, including the Volans-1X and Capricornus-1X wells in Namibia’s Orange Basin.