bp to acquire stake in three new exploration blocks

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.