Eco Atlantic to close BP Namibia deal
Eco Atlantic Oil & Gas is expecting the completion of its farm-down agreement with BP Namibia Energy in the third quarter of 2026, as preparations continue for seismic programmes across its offshore petroleum licences in Namibia. President and chief executive Gil Holzman says the company is progressing with the transaction with BP Namibia Energy Ltd, […] The post Eco Atlantic to close BP Namibia deal appeared first on The Namibian .
Eco Atlantic Oil & Gas is expecting the completion of its farm-down agreement with BP Namibia Energy in the third quarter of 2026, as preparations continue for seismic programmes across its offshore petroleum licences in Namibia.
President and chief executive Gil Holzman says the company is progressing with the transaction with BP Namibia Energy Ltd, a wholly owned subsidiary of BP Exploration Operating Company Ltd, covering petroleum exploration licences (PEL) 97, 99 and 100.
Holzman says the transaction is expected to close in the third quarter of 2026, subject to the fulfilment of the remaining conditions. Upon completion, BP will pay Eco US$2.7 million (about N$44 million) in cash.
