The supermajor’s entry into three offshore blocks signals rising confidence in Namibia’s deepwater potential and Africa’s expanding upstream opportunity.
The African Energy Chamber (AEC) (www.EnergyChamber.org) has welcomed bp’s acquisition of a 60% operating interest in three offshore exploration blocks in Namibia, describing the move as a strong endorsement of Africa’s frontier basins and the continent’s growing role in global energy supply.
The transaction, which gives bp operatorship of blocks PEL97, PEL99 and PEL100 in Namibia’s Walvis Basin, marks a significant expansion of the UK supermajor’s African upstream footprint. The assets were acquired from Eco Atlantic Oil & Gas, with bp stepping into a position that places it closer to Namibia’s rapidly evolving deepwater exploration corridor adjacent to the Orange Basin.
The deal reinforces the shift in Africa’s exploration narrative – from perceived frontier risk toward increasingly competitive global opportunity, underpinned by geological potential, improving partnerships and rising investor confidence.
“Credit must be given to bp for recognizing the scale of opportunity in Namibia, and equally to Gil Holzman and Eco Atlantic for pioneering early exploration efforts that helped position these blocks on the global radar,” says NJ Ayuk, Executive Chairman of the AEC. “This is what African energy development should look like – international majors and African-focused companies working together to unlock value, build knowledge and accelerate development.”
Namibia has rapidly emerged as one of the world’s most closely watched frontier exploration provinces, following a wave of offshore discoveries in the Orange Basin by operators including Shell, TotalEnergies and Galp. These discoveries have repositioned the country as a potential multi-billion-barrel deepwater oil province and triggered a surge of international interest.
The Walvis Basin, where bp has now established operatorship, remains less explored but is increasingly seen as a geological extension of the same broader petroleum system. Early indicators point to comparable reservoir characteristics, positioning it as a potential next frontier for exploration-led investment. While appraisal and development timelines remain long-cycle, Namibia is expected to see first production from offshore discoveries by the end of the decade, assuming continued exploration success and infrastructure alignment.
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