Block 1 CBK would have 3.6 billion barrels of oil in South Africa

Block 1 CBK Eco (Atlantic) Oil & Gas and Navitas Petroleum estimate that this area contains more than 3.6 billion barrels of risk-free prospective oil resources along with approximately 4.5 trillion cubic feet (Tcf) of prospective natural gas.

The assessment places this exploration license within an area receiving increasing attention from the international industry. Its location in the cuenca Orange this is especially relevant due to the discoveries made in other sectors of this geological formation located along the Atlantic margin of southern Africa.

For now, the figures represent prospective resources and not confirmed commercial reserves; companies still need to complete further stages of technical interpretation to determine which structures present suitable conditions to become future drilling targets.

Block 1 CBK concentrates prospective oil and gas resources

The available calculations are based primarily on existing seismic data, from this data, Eco Atlantic and Navitas can study subsurface characteristics, identify geological structures, and establish priorities for the next phases of the exploration program. The estimate of 3.6 billion barrels this constitutes the main element of the update. To this potential volume are added some 4.5 Tcf of natural gas which offers an additional dimension to the evaluation of hydrocarbons within the area.

However, there is a fundamental difference between prospective resources and proven reserves, prospective resources refer to quantities of hydrocarbons that may exist based on geological and geophysical interpretations, but whose commercial presence still requires confirmation through further activities. For this reason, the figures reported should be understood as representing an early stage of the process. Technical evaluation will need to continue before the partners can define mature prospects and consider a potential drilling campaign.

Furthermore, the additional interpretation of seismic information will allow for a better understanding of the distribution of the identified structures and the analysis of possible development alternatives should favorable results be obtained during the following phases.

The Orange Basin is gaining importance in African offshore exploration

Interest in this geological zone has increased in recent years due to various discoveries made in other parts of the basin. This activity has helped to focus the attention of operators and investors on the Atlantic margin of southern Africa. South Africa seeks to participate in this growing exploratory movement, its maritime territory has areas still considered frontier, where knowledge of the subsoil continues to evolve as companies process new information and review previously acquired data.

In this context, the assessment by Eco Atlantic and Navitas provides a new benchmark for the potential of the South African portion of the Orange Basin. Furthermore, its proximity to Namibia adds geological and commercial interest. Eco has exploration experience in both countries, a circumstance that allows the company to maintain a presence in various oil opportunities along this part of the African Atlantic.

Activity in the region will still depend on the results obtained during the following stages, the estimated size of a resource may justify further studies, but the viability of any project will be conditioned by technical, regulatory, economic, and environmental factors.

Navitas strengthens its exploration alliance with Eco Atlantic

The update is also related to the agreement reached in May 2026 Navitas agreed to enter the license by acquiring a stake. This move is part of a broader strategic relationship between the two companies focused on various exploration opportunities within the Atlantic margin.

The incorporation of Navitas it allows for the allocation of exposure, capabilities, and capital at a stage where technical work will still be necessary before making decisions regarding potential wells. For Eco Atlantic, the partnership can also contribute to advancing the assessment of an area whose scale requires ongoing geological analysis.

Gil Holzman Eco’s CEO highlighted that the updated assessment reveals the asset’s size and its potential to attract further investment to the South African offshore sector. Business interest will depend on the progress of the studies. Before any commercial development, specific targets must be identified, and subsequently, drilling must be conducted to verify whether the structures contain recoverable hydrocarbon accumulations.

South Africa could attract more capital for oil exploration

The African Energy Chamber (AEC) the organization also commented on the estimates, it believes the assessment highlights the existing investment potential in the country’s frontier marine basins. From its perspective, transforming these potential resources into projects will require conditions that facilitate long-term capital commitments.

South Africa has the opportunity to convert its marine resource potential into investment, energy security, jobs and economic growth, and we support companies that are willing to commit capital and technical expertise to take advantage of this opportunity.

NJ Ayuk

The approach links exploratory activity with broader economic objectives, a possible expansion of offshore operations this could mobilize international investment, specialized services, infrastructure, and jobs linked to the energy industry. However, these effects will depend on future drilling campaigns finding commercially viable quantities. At this stage, there is still no confirmation through drilling of the announced prospective volumes.

Regulatory certainty will be key for new investments

Another aspect highlighted by the AEC concerns the South African regulatory framework, Ayuk believes that clear and predictable rules can be crucial for attracting additional international capital for exploration. Offshore oil projects typically require significant investment and extended periods before reaching potential production. Consequently, companies analyze regulatory stability along with geological and economic factors before committing resources to large-scale campaigns.

At the same time, the organization maintains that this clarity must coexist with the upholding of environmental standards. This balance is becoming increasingly important as South Africa explores how to develop its marine resources while international operators examine new opportunities within its waters. The evolution of the regulatory framework could influence the pace of future investments and the country’s ability to capitalize on the renewed geological interest surrounding the Orange Basin.

Seismic data will need to be converted into drilling targets

The next phase for Eco Atlantic and Navitas will focus on continuing the technical evaluation, the partners need to delve deeper into seismic interpretation to select structures with the best characteristics and move toward potential drillable targets. This process will be crucial in reducing the uncertainty associated with prospective resources. An estimate based on geophysical information may show a considerable opportunity, but the subsurface must be tested to establish the actual presence of oil or gas.

Therefore, the 3.6 billion barrels they currently represent exploratory potential, the same consideration applies to the 4.5 Tcf of gas calculated for the area. As the geological work progresses, companies will be able to adjust their models and determine which prospects justify additional investment. A potential drilling decision would mark a new stage because it would allow them to obtain direct information about the geological formations, fluid characteristics, and reservoir conditions.

South Africa’s oil potential enters an evaluation phase

The estimated size of the resource makes it a relevant benchmark for observing the evolution of South African offshore exploration. Even so, the path from a prospective resource to potential commercial production involves several technical stages. First, the objectives must be refined. Then, it will be necessary to determine whether there is a sufficiently attractive opportunity to justify exploratory wells. The results of these operations would allow for a more precise determination of the size and quality of any accumulation encountered.

Should discoveries be made, further analyses would begin to study their economic viability, development options, and necessary infrastructure. While that process unfolds, Eco Atlantic and Navitas are maintaining the Block 1 CBK as one of its exploration opportunities within the African Atlantic margin.

The combination of a multi-billion dollar oil estimate, significant prospective gas resources, and growing interest in the Orange Basin places this area under increased technical scrutiny. Upcoming assessments will be crucial in determining whether this geological potential can ultimately translate into commercially viable discoveries.

Source: World Oil

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