BP takes the wheel in Walvis Basin
BP has formally taken over operatorship of three offshore petroleum licences in Namibia after receiving final government approval. Eco (Atlantic) Oil & Gas announced this week that it had completed the transfer of a 60% stake in its three Namibian offshore exploration licences to BP Namibia Energy, a subsidiary of British energy giant BP. The deal, which received the final ministerial signatures from the Ministry of Industries, Mines and Energy, gives BP control of exploration activities in the three licences, known as PEL97, PEL99 and PEL100, in the Walvis Basin. The transaction leaves Eco Atlantic with a 25% stake in