BP p.l.c. (NYSE:BP) shares traded higher in Monday's premarket session, even as broader indices pointed lower, supported by a risk-on tone across the energy sector.

The company said Monday it has agreed to acquire a 60% stake in three offshore exploration blocks—PEL 97, PEL 99, and PEL 100—in Namibia's Walvis Basin from Eco Atlantic Oil & Gas, subject to regulatory approvals. BP will operate the assets, while Eco Atlantic and NAMCOR will retain minority stakes.

"Namibia is a region attracting growing industry interest…," said Gordon Birrell, BP's executive vice president of production & operations, highlighting long-term growth potential.

The deal builds on BP's recent exploration momentum, including multiple discoveries through Azule Energy, its joint venture with ENI S.p.A. (NYSE:E).

BP Technical Levels: Key Support and Resistance to Watch

At $47.09, BP is trading 3.1% above its 20-day simple moving average (SMA), the stock's average price over ...