Bp To Acquire Stake In Three New Exploration Blocks

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 13. bp has agreed to acquire a 60% operating interest in three offshore exploration blocks in Namibia from Eco Atlantic Oil & Gas, as part of its strategy to expand its upstream exploration portfolio, Trend reports via the company.

Subject to approval from Namibian authorities, bp will become the operator of blocks PEL97, PEL99 and PEL100 in the Walvis Basin. Eco Atlantic will retain a partnership stake alongside Namibia's national oil company NAMCOR, pending completion of customary closing conditions.

The company said the acquisition will build on its recent exploration activity in Namibia through Azule Energy, a joint venture between bp and Eni.

The transaction remains subject to standard regulatory approvals and consent from joint venture partners.

bp has reported multiple exploration successes over the past year, including two discoveries since the beginning of 2026 and 12 discoveries in 2025. Through Azule Energy, it also announced four hydrocarbon finds since early 2025, including the Algaita-01 and Gajajeira-01 wells in Angola, as well as the Volans-1X and Capricornus-1X discoveries in Namibia's Orange Basin.

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