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This article first appeared on GuruFocus<\/a>.<\/p>\n BP (NYSE:BP<\/a>) is making a quiet but meaningful move into Namibia’s offshore<\/a> energy space and it’s taking control while doing it.<\/p>\n The company is picking up a 60% stake in a group of exploration licenses from Eco Atlantic, along with operatorship of the blocks. These include the Cooper, Guy, and Tamar areas, all part of a region that’s been getting more attention lately as a potential new oil and gas hotspot.<\/p>\n For Eco Atlantic, this looks more like a strategic step than a step back. The company is keeping a 25% stake, so it still has exposure if things go well, but it’s handing over the heavy lifting to a much larger player with more resources and experience.<\/p>\n From BP’s side, this is pretty straightforward. It gets into a promising region and takes control of how the project moves forward, which matters a lot at the exploration stage.<\/p>\n<\/p><\/div>\n