Azerbaijan’s parliament has ratified Gran Tierra Energy Inc.‘s exploration, development and production sharing agreement (EDPSA) with the State Oil Company of the Republic of Azerbaijan (SOCAR) for the onshore Guba-Khazaryani region.
“We would like to thank our partner, the State Oil Company of the Republic of Azerbaijan, the Government of the Republic of Azerbaijan and all of its agencies involved in the ratification process, and the Milli Majlis for their hard work and commitment in passing this bill during the first plenary session of the autumn term,” said Gary Guidry, president and CEO of Gran Tierra.
The survey is designed to help define the geometry of sedimentary basins and fault-related structures that could trap oil and gas within the Guba-Khazaryani area. Gran Tierra plans to integrate the dFTG results with existing seismic and exploration well data to identify areas for future seismic acquisition and optimize potential exploration and appraisal drilling locations.
source: worldoil.com