SNC Incorporated has advised BP on its agreement to acquire a 60% operating interest in three offshore petroleum exploration licences – PEL 97, PEL 99 and PEL 100 – 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. Subject to regulatory approvals, BP will operate the blocks alongside its partners, including NAMCOR.
The multidisciplinary team from SNC Incorporated advising on the deal was led by Managing Partner Shakwa Nyambe, supported by Partner Shafimana Shimakeleni and Senior Associate Esther Kiangi.
The acquisition positions BP in one of the world’s most active frontier exploration regions. The Walvis Basin lies north of the Orange Basin, where significant hydrocarbon discoveries have been made in recent years.
Commenting on the transaction, Nyambe said Namibia continues to attract major global energy companies due to the scale of its offshore potential and recent exploration success.
“We are pleased to have supported BP on its entry into Namibia as an operator. This transaction strengthens BP’s upstream portfolio and contributes to the continued development of Namibia’s oil and gas sector,” he said.
SNC Incorporated said the deal adds to its track record in advising on high-value, cross-border energy transactions and reinforces its position as a legal adviser in Namibia’s growing oil and gas industry.
