On 26 February 2020 Azinam announced that it had reached an agreement on terms with OK Energy Limited (OK Energy) whereby Azinam, subject to contract, will become a significant minority shareholder in OK Energy. OK Energy holds a 10% participating interest in two blocks: the Algoa East Block (257ER) and the Northern Cape Ultra-Deep block (274ER previously referred to as OK Energy 3 block).  The ultra-deep-water Orange Sub-basin Northern Cape Ultra-Deep block (274ER) covers some 5,900 sq km. Interests in the block are as follows: Shell 45% (Operator), Kosmos 45% and OK Energy 10% (Azinam will hold an indirect interest 4.9% stake via its 49% interest in OK Energy).  The Algoa East Block (257ER) covers some 9,400 sq km and includes a small portion of acreage within the Outeniqua Basin and a small portion within the Transkei Basin. Water depths across the block range between 0 m to 3,700 m. Equinor operates the tract with a 60% stake, Total holds a 30% stake and OK Energy holds the remaining 10% interest (Azinam will hold an indirect interest 4.9% stake via its 49% interest in OK Energy).
Azinam and Panoro have each agreed acquired 50% + op, and 12.5% respectively, while AEC will retain 27,5% and Crown Egy 10% in the shallow waters block 2B (3604kmÂ²).