Eco (Atlantic) Oil & Gas 2026 Operational and Business Update

Eco (Atlantic) Oil & Gas has announced a mid-year 2026 update detailing significant progress across its Atlantic Margin portfolio, specifically in Guyana and the Falkland Islands. The company has strengthened its position through strategic farm-out transactions and partnerships with Navitas Petroleum, ensuring its exploration exposure is largely carried by upcoming work programs. This update is a key indicator for the offshore sector as it highlights upcoming drilling catalysts and regulatory milestones in high-potential basins.

Eco and Navitas Petroleum are currently in advanced negotiations with Guyana’s Ministry of Natural Resources for a new Production Sharing Agreement (PSA) regarding the Orinduik Block, which includes the Joe and Jethro oil discoveries. This agreement, expected to finalize in Q3 2026, will see Navitas take an 80% stake while Eco maintains a 20% working interest. Notably, Eco’s interest will be carried for work performed on the block, capped at US$11 million, allowing the company to maintain a strong cash position while advancing its Guyanese assets.

In the Falkland Islands, Eco is progressing with its PL001 license following a farm-in and the proposed acquisition of JHI Associates. The company is currently awaiting a five-year license extension and approval for Navitas to take over as operator from the Falkland Islands Government. Independent auditor NSAI has already certified prospective resources of over 1.4 billion barrels of oil across 15 prospects in the license area, with Eco’s net prospective resource estimated at 490 million barrels. The technical team is focusing on stacked fan targets that could allow a single well to de-risk the wider area.

The operational outlook is further bolstered by developments at the neighboring Sea Lion field, where Navitas has signed a Memorandum of Understanding for an optional FPSO. This vessel would potentially add 125,000 barrels per day (bpd) to the project’s initial 55,000 bpd capacity, demonstrating a commitment to regional production acceleration. Eco anticipates that the proximity of its PL001 acreage to the Sea Lion infrastructure will provide significant development synergies and economies of scale, creating an efficient pathway to commercial monetization for its offshore Falkland assets.