Gran Tierra Energy will operate a new oil and gas exploration project in Azerbaijan’s Quba-Caspian region with a 65% stake, while the size of any recoverable reserves will be determined after geophysical and seismic studies.
The agreement involving SOCAR, Gran Tierra Energy (Azerbaijan) GmbH and SOCAR Quba-Xəzəryanı LLC covers exploration, development and production sharing, according to Vesti Baku.
Exploration Comes First
The partners will initially carry out geological, gravimetric and seismic surveys to refine their understanding of the subsurface and identify commercially significant hydrocarbon volumes.
If those studies produce positive results, the project would move to drilling and then to development and production. The agreement therefore does not amount to confirmation that new reserves have already been discovered; the volume of any resources remains to be established.
The project area covers parts of Azerbaijan’s Quba, Qusar, Shabran, Siyazan and Khizi districts. The agreement was signed on Feb. 19, 2026.
Gran Tierra’s 65% interest reflects its participation as operator of the project, rather than a proven share of future production. The parties have not publicly disclosed the remaining commercial terms or a timetable for drilling.