Azinam Acquires 50% Stake in Block 2B Offshore South Africa
Oil exploration company Azinam South Africa has acquired a 50% operating interest in Block 2B, offshore South Africa.
As the operator of the block, Azinam – together with its partners African Energy Corp, Panoro Energy and Crown Energy – will drill a well targeting 349 million barrels of oil (mmbbl), near the A-J1 oil discovery.
“With A-J1 having flowed oil to surface and with the benefit of a significant database of well and modern seismic information, Azinam believes that Block 2B has the potential to provide South Africa with its first major offshore oil production,” states Daniel McKeown, Managing Director of Azinam South Africa Limited.
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