New Azerbaijan oil pact gives Gran Tierra a 65% stake in 0.4M acres

NodeGuardian · 2026-02-20T02:22:23+00:00

Gran Tierra Energy has entered an EDPSA with SOCAR in Azerbaijan, gaining a 65% interest in the Guba-Khazaryani area. The agreement includes a five-year exploration term and a 25-year development period, starting in 2026.

NodeGuardian

2026-02-20 02:22:23

Abstract generation in progress

Gran Tierra Energy has signed an exploration, development, and production sharing agreement (EDPSA) with SOCAR for the Guba-Khazaryani contract area in Azerbaijan, securing a 65% working interest and operatorship over approximately 0.4 million gross acres. The agreement features a five-year exploration and appraisal period and a 25-year development period, with initial activities in 2026 and 2027 to be funded by forecasted operating cash flow. This move adds a significant new exploration opportunity to Gran Tierra’s portfolio and is subject to legislative and legal approvals.

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