The stakes cover between 10% and 48%, with partnersincluding Maurel & Prom, Chariot Oil & Gas and Eco (Atlantic) Oil &Gas, the company said.

AziNam did not reveal the purchase price or structure of the deal. A spokesman did not immediately respond to a request for further details from Upstream.

The company shares the backing of Seacrest Capital withAzimuth Limited, a collaboration between the investment fund and PetroleumGeo-Services.