High spin states of the odd proton nucleus I-123 have been populated in the reaction Cd-116(N-14, 5n2p) at a beam energy of 65 MeV. Two previously known positive-parity DeltaI = 2 sequences have been extended up to 31/2(+) and 41/2(+). In addition, a number of DeltaI = 1 transitions linking the two DeltaI = 2 sequences have been observed. It is suggested that both the DeltaI = 2 sequences are built upon the oblate pi(g) (7/2)[404]7/2(+) Nilsson configuration.