Many in the upstream sector see southern Africa as a particularly promising frontier
Eco Atlantic expands in southern Africa
The AIM-listed independent will take over six licences in the region with its acquisition of Azinam Group
AIM-listed Eco Atlantic Oil & Gas has agreed to acquire independent Azinam Group, including its three South African licences and another three in Namibia. In return, Azinam will receive a 16.65pc stake in the combined company. The deal is expected to be concluded by the end of this month. Azinam’s portfolio includes operatorship and a 50pc stake in block 2B off the Atlantic coast of South Africa. Eco Atlantic plans to drill an exploration well there in the second half of 2022. Block 2B’s other stakeholders are Vancouver-headquartered Africa Energy Corp (27.5pc), Oslo-listed independent Panoro (12.5pc) and Stockholm-based Crown Energy (10pc). Eco Atlantic will also acquire 20pc in d
Also in this section
23 May 2025
LNG projects need the certainty of long-term contracts, but Henry-Hub–linked deals put buyers at significant risk
22 May 2025
Industry says compliance is near-impossible and have called for more clarity to prevent cargoes being redirected
22 May 2025
The next energy crisis could come from the severing of the link between oil and gas prices, with potentially severe economic consequences
22 May 2025
With contract awards looming on the Kuwait-Saudi backed Dorra field, the long-stalled gas project appears finally to be gaining traction—despite Iranian objections
