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Akbar Novruz

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International energy company Gran Tierra Energy Inc. plans to start aerial exploration in 2026, followed by seismic surveys and drilling in 2027, AzerNEWS reports, citing the company.

The work will be carried out under an Exploration, Development and Production Sharing Agreement (EDPSA) signed on February 19, 2026, with the State Oil Company of Azerbaijan (SOCAR) for a promising onshore field in the Guba-Caspian region. The contract area spans approximately 0.4 million acres, covering a structure about 65 km long that has historically produced over 100 million barrels of oil and more than 200 billion cubic feet of natural gas, underscoring the region’s world-class hydrocarbon potential.

Gran Tierra holds a 65 percent working interest and operator status in the area. The EDPSA provides a five-year exploration and appraisal phase and a 25-year development phase, with an option to extend development by an additional five years.

The exploration program will proceed in two phases. The first three-year phase will include a gravity survey, drilling of two wells, and 250 km² of 3D seismic data acquisition. The second two-year phase involves two more wells and another 250 km² of seismic data, contingent on successful results from the initial phase.

Gran Tierra emphasized that the project will leverage its technical and operational expertise alongside strategic access to European markets and a capital-efficient development plan, aiming to expand production in Azerbaijan’s prolific oil and gas system.