Eco Atlantic Gains Approval for Strategic South African Block Acquisition
Independent exploration company Eco Atlantic Oil & Gas has received official approval from South Africa’s Department of Mineral and Petroleum Resources to secure 75% operatorship of Block 1 in the highly prospective Orange Basin. The 19,929 square kilometer block straddles the South Africa-Namibia maritime border and includes proven hydrocarbon discoveries.
CEO Gil Holzman expressed pride in securing “one of the largest and prospective blocks in the entire basin with a known hydrocarbon footprint.” The block features existing discoveries including the Soekor AF-1 gas discovery with tested flows of 32.4 million standard cubic feet per day, confirming an active petroleum system.
The acquisition positions Eco Atlantic strategically within the Orange Basin, complementing its existing Block 3B/4B operated by TotalEnergies. The company anticipates launching a formal farm-out process by August 2025, with significant interest already expressed by international oil companies and mid-tier partners.
Source: energycapitalpower.com