Navitas Petroleum Completes Offshore South Africa Acquisition, Expanding Atlantic Margin Footprint

## Navitas Petroleum Closes South Africa Offshore Deal Israel's Navitas Petroleum has completed the acquisition of a stake in an offshore exploration block off the coast of South Africa, according to Offshore Energy. The transaction was concluded through a deal with Eco (Atlantic) Oil & Gas, an AIM-listed, Canada-headquartered oil and gas company with a strategic focus on the Atlantic Margin. The completion of the deal marks a notable expansion of Navitas Petroleum's upstream portfolio into one of Africa's most closely watched frontier exploration regions. South Africa's offshore acreage has attracted growing interest from international operators in recent years, driven by significant discoveries in neighbouring Namibia — most notably TotalEnergies' Venus find in the Orange Basin — which have renewed optimism about the broader Atlantic Margin's hydrocarbon potential. Eco (Atlantic) Oil & Gas has been an active participant in Atlantic Margin exploration, holding interests across multiple jurisdictions including Namibia, Guyana, and South Africa. The divestment of a partial stake to Navitas is consistent with a broader industry trend of farm-in arrangements that allow smaller exploration companies to share risk and bring in well-capitalised partners to advance drilling programmes. Navitas Petroleum, which has existing upstream interests in the United States and Israel, has been pursuing international diversification. The South Africa entry signals the company's confidence in the region's long-term exploration upside. Details regarding the specific block designation, the size of the stake acquired, and the financial terms of the transaction were not fully disclosed in available reports. Further clarity on work programme commitments and prospective timelines is expected as the partnership progresses. The deal underscores continued investor appetite for frontier offshore acreage along the Atlantic Margin, even as the global energy transition reshapes longer-term demand outlooks for oil and gas. For South Africa, attracting international upstream investment remains a priority as the country seeks to develop its offshore resources to address domestic energy security challenges. *Source: Offshore Energy*