Azinam has agreed in principle to become a 10% shareholder in OK Energy. A deal would result in Azinam holding 4.9% in the Shell-operated Northern Cape Ultra-Deep block (Orange Deepwater / ER 274), 37,254 sq km in the Orange Basin, partners Kosmos + OKE, and in the Equinor-run Algoa East block (ER 257), 6,654 sq km in the Algoa Basin, partners Total + OKE. It is recalled Azinam recently moved-into block 2B from Africa Energy (DEA 25 Feb).
Azinam reached an agreement to acquire a 49% interest in private OK Energy. The details of the transaction have not been disclosed. OK Energy holds a 10% stake in 2 offshore exploration rights