BP Signs Deal for Three Offshore Exploration Blocks in Namibia

(Credit: BP)

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

The blocks - PEL97, PEL99 and PEL100 - are located in the Walvis Basin offshore Namibia. Following completion, Eco Atlantic and NAMCOR will remain partners.

The transaction is subject to regulatory approvals from Namibian authorities and other customary closing conditions.

“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,” said Gordon Birrell, BP’s executive vice president, production and operations.

The move builds on BP’s recent exploration activity in Namibia through Azule Energy, a joint venture with Eni, which has reported discoveries in the Orange Basin.

BP said it has made two exploration discoveries so far in 2026, following 12 discoveries in 2025, as it continues to expand its upstream portfolio to support long-term growth.