Gran Tierra to enter Azerbaijan with SOCAR agreement

Canada-based Gran Tierra Energy has entered into an agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR) to explore and develop oil and natural gas in Azerbaijan’s Guba-Khazaryani region. This exploration, development and production sharing agreement (EDPSA) is pending legislative approval and other legal requirements in Azerbaijan. The agreement, signed through an indirect fully owned subsidiary, grants significant rights to Gran Tierra in an onshore petroleum area known for subst ...