SNC Incorporated advised BP on its agreement to acquire a 60% operating interest in three offshore petroleum exploration licences – PEL97, PEL99 and PEL100 – in Namibia’s Walvis Basin from Eco Atlantic Oil & Gas.
The transaction marks BP’s entry as an operator in Namibia and forms part of its strategy to expand and strengthen its upstream oil and gas portfolio.
Following completion and subject to regulatory approvals, BP will operate the blocks alongside its partners, including NAMCOR.
The multidisciplinary SNC Incorporated team advising on the transaction was led by Managing Partner Shakwa Nyambe, with support from Partner Shafimana Shimakeleni and Senior Associate Esther Kiangi.
This acquisition positions BP within one of the world’s most active frontier exploration regions, with the Walvis Basin located north of the highly prospective Orange Basin, where significant hydrocarbon discoveries have been made in recent years.
Commenting on the transaction, Shakwa Nyambe said: “Namibia continues to attract leading global energy companies due to the scale of its offshore potential and the quality of recent discoveries.
“We are pleased to have supported BP on its entry into Namibia as an operator. This transaction not only strengthens BP’s upstream portfolio but also contributes to the continued development of Namibia’s oil and gas sector.
“We look forward to seeing the value this investment brings to both BP and the country.”
This adds to SNC Incorporated’s growing track record in advising on high-value, cross-border energy transactions and further reinforces its role as a trusted legal advisor in Namibia’s rapidly evolving oil and gas industry.
