(WO) — Eco (Atlantic) Oil & Gas and Navitas Petroleum estimate that Block 1 CBK offshore South Africa contains more than 3.6 Bbbl of unrisked prospective oil resources and approximately 4.5 Tcf of prospective natural gas resources.
The block is located in South Africa’s Orange basin, an area attracting increased exploration interest following a series of discoveries elsewhere in the basin. The updated estimates are based on existing seismic data, with further interpretation planned as the partners continue evaluating the acreage and potential development options.
The resource update follows Navitas’ May 2026 agreement to farm into Block 1 CBK as part of a broader strategic relationship with Eco across several Atlantic Margin exploration opportunities.
Eco CEO Gil Holzman said the updated assessment demonstrates the scale of the block and its potential to attract further investment into South Africa’s offshore sector. Eco has existing exploration experience in both South Africa and neighboring Namibia.
The African Energy Chamber (AEC) said the assessment highlights the investment potential of South Africa’s frontier offshore basins, while calling for greater regulatory certainty to support exploration.
“South Africa has an opportunity to turn its offshore resource potential into investment, energy security, jobs and economic growth, and we support companies that are prepared to commit capital and technical expertise to that opportunity,” said AEC Executive Chairman NJ Ayuk.
Ayuk added that a clear and predictable regulatory framework would be important to attracting additional international exploration capital while maintaining environmental standards.
The Block 1 CBK estimates remain prospective and unrisked, with continued technical evaluation required to identify and mature potential drilling targets.
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