16:09 - 12.10.2026

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October 12, Fineko/abc.az. President Ilham Aliyev has approved the Law on the adoption and approval of the Agreement on Exploration, Development and Production Sharing in the territory covering separate parts of the Guba, Gusar, Shabran, Siyazan and Khizi districts of Azerbaijan (Guba-Caspian), between the State Oil Company of Azerbaijan, Gran Tierra Energy (Azerbaijan) GmbH and SOCAR LLC Quba-Xəzəryanı, as well as on granting permission for its implementation.

According to the terms of the agreement, the project operator will be Gran Tierra Energy Inc. with a 65% stake.

The exploration program includes the collection of gravimetric data, 3D seismic surveys and drilling of exploration wells to identify the hydrocarbon potential of the contract area.