business / news / / Reuters
BP will pay Eco Atlantic $2.7 million in cash for the 60% interest in the three petroleum exploration licences.
BP will pay Eco Atlantic $2.7 million for a 60% stake in Namibian exploration licences.
KEY POINTS
- This deal marks BP's first entry as an operator in Namibia's oil and gas sector.
- BP plans to dispose of $20 billion in assets and reduce debt to $14-18 billion by 2027.
- Eco Atlantic and Namibia’s NAMCOR will remain partners in the exploration blocks with BP.
COMPANIES
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