South Africa’s Orange Basin Gains Momentum as Navitas Takes Block 1 CBK Operatorship

Following regulatory approval from the South African government, Navitas Petroleum has assumed operatorship of Block 1 CBK offshore South Africa. This follows Eco Atlantic's completion of a farm-down of a 37.5% working interest in the license to Navitas. The deal provides the Atlantic Margins explorer's partner with one of the Orange Basin's largest exploration blocks. The frontier region has drawn major industry players including Shell, TotalEnergies, bp, and Galp since play-opening discoveries offshore Namibia started transforming the area's upstream landscape in 2022. The African Energy Chamber (AEC) welcomes the completion of Eco (Atlantic) Oil & Gas’ farm-down in Block 1 CBK. As the voice of the African energy sector, the Chamber views the transaction as an important step in advancing exploration and unlocking the country’s significant offshore oil and gas potential. Completed on September 22 following South African regulatory approvals, the transaction transfers operatorship of the 19,929-km 2 block to Navitas. Eco retains a 37.5% interest, while local partner OrangeBasin Energies maintains 25%. Eco received $4 million in cash and will be carried by Navitas for up to $7.5 mil