Eco (Atlantic) Oil & Gas Concludes Namibian Licenses Farm-down to BP Unit

03:05 AM EST, 11/10/2026 (MT Newswires) -- Eco (Atlantic) Oil & Gas (ECO.L) completed the farm-down of a 60% interest in its three offshore petroleum exploration licenses in Namibia to BP (BP.L) unit BP Namibia Energy, according to a Tuesday filing. Further, Eco, which would retain a 25% participating interest in the PEL97, PEL99 and PEL100 licenses, secured regulatory approval to launch the next phase of exploration at the project. The British oil and gas giant will lead the exploration as an operator. For the stake sale, Eco will receive a one-time cash consideration of $2.7 million on Nov. 16.