Eco Atlantic is preparing an extensive new exploration campaign offshore Namibia as it advances seismic programmes across three large petroleum licences in the Walvis Basin while awaiting completion of its farm-down transaction with BP.
The company says preparations are underway for a significant work programme that includes completing seismic reprocessing on Petroleum Exploration Licence (PEL) 97 and a new 3D seismic survey covering more than 3,000 square kilometres across PELs 99 and 100.
The planned programme represents one of the largest upcoming offshore exploration efforts outside Namibia’s highly active Orange Basin and signals growing industry interest in the underexplored Walvis Basin.
Eco Atlantic said work is continuing with partners as the company moves towards the next phase of exploration aimed at improving subsurface imaging, refining geological models and identifying future drilling targets.
The seismic reprocessing programme on PEL 97 is expected to utilise modern imaging techniques to extract additional geological information from existing datasets. In contrast, the planned 3D seismic acquisition over PELs 99 and 100 will provide significantly higher-resolution imaging of potential hydrocarbon-bearing structures.
Together, the programmes are expected to generate the technical data needed to advance prospect evaluation and support future drilling decisions.
The exploration campaign comes as Eco Atlantic progresses the farm-down of PELs 97, 99 and 100 to BP Namibia Energy, a transaction expected to close during the third quarter of 2026.
Under the agreement, Eco will retain a 25% interest in the licences while securing substantial carried funding for exploration activities.
The arrangement means Eco will be able to participate in the next phase of offshore exploration while preserving capital and maintaining exposure to any future discoveries.
Importantly, the company disclosed that BP will carry Eco’s retained interest as well as its proportional share of the interests held by NAMCOR and local Namibian partners during the current exploration phase, creating a potential carried exploration programme worth up to US$63 million.
That funding support significantly strengthens Eco’s ability to advance exploration across the acreage.
The licences occupy a strategic position in the Walvis Basin, an area increasingly attracting attention as operators seek to replicate the success achieved in Namibia’s Orange Basin, where a series of world-class discoveries has transformed the country’s offshore petroleum industry.
Eco is also advancing plans elsewhere in its Namibian portfolio and expects to receive government approval during the third quarter of 2026 for the farm-out of PEL 98 to Lamda Energy.
The company believes the combination of new seismic data, technical re-evaluation and partnership funding will place it in a stronger position to unlock the exploration potential of its offshore acreage.
