New operator takes up the baton at South Africa’s Orange Basin block

New operator appointed for South Africa’s Orange Basin block
June 4, 2025, by Melisa Cavcic

Eco (Atlantic) Oil & Gas, a Canadian company listed on AIM, has broadened its portfolio by acquiring a stake in an asset that allows it to become the operator at an exploration block in the Orange Basin off the South African coast. After final approval was granted, Eco’s subsidiary, Azinam South Africa, has taken over the operatorship of Block 1, following a deal signed in June 2024 with Tosaco Energy. This move has been officially approved by the South African Department of Mineral and Petroleum Resources, with Tosaco retaining a 25% interest.

The company’s Co-Founder and CEO, Gil Holzman, expressed excitement about the acquisition of Block 1, emphasizing its strategic location and significant potential in the highly prospective basin. Eco Atlantic is now focusing on analyzing the extensive dataset available for the block, which includes seismic surveys and well logs. The operator plans to initiate a formal farm-out process for its interest in Block 1 in August 2025, while also exploring opportunities in Namibia and Guyana.

Holzman highlighted the company’s commitment to exploration and its goal to attract international partners for future projects. Eco Atlantic’s recent endeavors in the Orange Basin demonstrate its dedication to expanding its presence in the region and capitalizing on the area’s hydrocarbon potential.