The State Oil Company of Azerbaijan (SOCAR), together with Canada's Gran Tierra Energy Inc., intends to carry out 2D seismic survey work to detail the geological structure of the Guba-Caspian oil and gas region of the country.
As reported by FinFly citing SOCAR, these works are planned to be performed under the exploration, development and production sharing agreement for a promising onshore block located in this region.
It is noted that at the initial preparatory stage of the project, a meeting was organized at the Executive Power of the Guba District, during which participants reviewed the next steps for implementing the project.
It is worth noting that in February 2026, SOCAR and Gran Tierra Energy signed the corresponding agreement. Under the terms of the contract, Gran Tierra Energy Inc., acting as the project operator, will receive a 65% participating interest. The exploration program includes the collection of gravity data, 3D seismic surveys, and drilling of exploration wells aimed at assessing the hydrocarbon potential of the contract area.