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-km2 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 million of its share of the work program.
Block 1 CBK sits within the Orange Basin, one of Africa’s most active frontier exploration areas, directly adjacent to Namibia and close to recent discoveries by Galp Energia, TotalEnergies, Rhino Resources and Shell. Three legacy wells have already confirmed a gas discovery with tested flow rates of 32.4 million standard cubic feet per day.
“South Africa has an opportunity to turn its offshore resource potential into investment, energy security, jobs and economic growth,” says NJ Ayuk, Executive Chairman, AEC. “Partnerships that combine international capital and technical expertise with local participation can help move these resources toward development while creating wider opportunities across the African energy value chain.”
An August 2026 review by Eco and Navitas estimated more than 3.6 billion barrels of unrisked prospective oil resources and approximately 4.5 trillion cubic feet of prospective gas resources on Block 1 CBK. The partners are continuing advanced interpretation and reprocessing of existing seismic data to identify prospects and potential drilling targets, with the farm-down carrying Eco’s share of a work program that includes two planned exploration wells.
The transaction also demonstrates how farm-downs can distribute exploration risk while preserving exposure to high-impact African resources. Navitas assumes operational responsibility and expenditure commitments, while Eco retains substantial upside. If the existing option with OrangeBasin Energies is exercised in full and Navitas acquires half of the additional interest, Eco and Navitas would each hold 47.5% with OrangeBasin Energies retaining 5%.
For South Africa, successful exploration could support domestic oil and gas supply, attract international investment and generate demand for local services, technology and expertise. The project also forms part of a broader Orange Basin exploration story spanning South Africa and Namibia, reinforcing the region’s growing importance within Africa’s upstream landscape.
The AEC supports continued collaboration between government, international operators, African companies and financial and technical partners to advance Block 1 CBK. As Navitas assumes operatorship, the project provides an opportunity to convert substantial geological potential into exploration activity, investment and, ultimately, energy and economic value for South Africa and the continent.
