Private equity-backed Azinam has struck its second deal of the week to beef up its acreage position off South Africa after agreeing a tie-up with junior player OK Energy.

The partnership is seeing Seacrest Capital-backed Azinam take a 49% stake in OK Energy, with the principals in the latter to become minority shareholders in Azinam – although the size of their stake has not been disclosed.

With OK Energy currently holding 10% stakes in a pair of South African offshore blocks, Azinam is securing a 4.9%