Offshore staffTORONTO, Canada — Eco (Atlantic) Oil & Gas is farming into one exploration block offshore South Africa and exiting another. Tosaco intends to transfer its remaining 25% share to OrangeBasin Oil and Gas, a newly formed South African entity. Block 1 covers 19,929 km; its eastern side is about 174 km offshore while its western section extends about 263 km into deep water. Eco has decided to relinquish its 50% operated stake in offshore Block 2B, where in 2022 it drilled the Gazania-1 well offsetting Soekor’s AJ-1 oil discovery. There are inboard gas discoveries on the block, Kudu to the north, and multiple discoveries in the Ibhubesi Field to the south.
