16:32 - 2.06.2026

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June 2, Fineko/abc.az. Azerbaijan possesses a world-class oil and gas basin with an already established transport infrastructure, both for supplies to the domestic market and for export destinations.

ABC.AZ reports that Gary Guidry, President and CEO of Canadian company Gran Tierra Energy, when delivering speech at the 31st Baku Energy Forum.

Guidry noted that the company started analyzing data on Azerbaijan about two years ago, having received an invitation to do so.

"It is highly likely that we will have to use technologies to increase oil recovery in the north of Azerbaijan [Guba-Caspian region], flood reservoirs, and apply various methods of production intensification. That is why, given the scale of our company, it is crucial for us to allocate resources wisely and purposefully maintain a short payback cycle from the moment of capital investment," he emphasized.