Eco Atlantic Oil & Gas partners with BP in Namibia, cutting funding risk and gaining a major operator.

Eco Atlantic Oil & Gas has entered a farm-out deal with BP, giving BP a 60% stake and operatorship in three offshore Namibian exploration licenses. Eco retains 25% interest and receives $2.7 million upfront, with BP covering exploration costs during the current phase. The deal reduces Eco's financial exposure while keeping upside potential, as BP may deepen involvement from 2028 with drilling commitments. This partnership supports Eco's strategy to derisk its portfolio and advance exploration in the Atlantic Margin region.