Energy
BP Buys Into Namibia Blocks as Country Continues to Lure Big Oil
An Oil and Gas drilling rig near Walvis Bay.
Photographer: Gianluigi Guercia/AFP/Getty ImagesBP Plc agreed to buy stakes in three exploration licenses off Namibia as oil majors continue to expand in one of Africa’s drilling hotspots.
The company will take a 60% interest and operatorship of the blocks in the Walvis Basin, north of discoveries made by TotalEnergies SE and Shell Plc. BP has already found oil in Namibia through a joint venture with Eni SpA.