What is BP acquiring in Namibia and for how much?

BP is acquiring a 60% operating interest in three offshore petroleum exploration licences in Namibia’s Walvis Basin from Eco Atlantic Oil & Gas for $2.7 million in cash.

Why is BP making this move, and how does it fit into its broader strategic shift?

BP is shifting focus back to oil and gas after an ill-fated renewables push, pledging to sell $20 billion in assets and reduce debt to $14–$18 billion by end-2027 — this deal marks its entry as an operator in Namibia, a key exploration hotspot.

BP to buy interest in three offshore Namibian blocks as shift to oil and gas sharpens

Apr 12, 2026

BP agreed to acquire a 60% operating interest in three offshore Namibian exploration blocks from Eco Atlantic for $2.7 million. This deal reinforces BP's strategic pivot back to oil and gas projects to boost shareholder value.

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BP to buy interest in three offshore Namibian blocks as shift to oil and gas sharpens

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