SOCAR and Gran Tierra Energy sign exploration deal in Guba–Khazaryani.

SOCAR and Gran Tierra Energy Inc. have signed an Exploration, Development and Production Sharing Agreement (EDPSA) covering an onshore prospective area in Azerbaijan’s Guba–Khazaryani region.

The agreement was signed by SOCAR President Rovshan Najaf and Gran Tierra Energy President and CEO Gary Guidry.

Under the terms of the deal, Gran Tierra Energy will hold a 65% working interest and serve as the operator of the contract area.

The exploration program предусматривает acquisition of airborne gravity data, 3D seismic surveys and the drilling of exploration wells aimed at assessing the hydrocarbon potential of the block.

The agreement will enter into force after ratification by the Parliament of Azerbaijan.