Gran Tierra Energy Secures Azerbaijan Approval for Guba-Khazaryani Project

MT newswire2026/10/05 21:29

05:29 PM EDT, 10/05/2026 (MT Newswires) -- Gran Tierra Energy (GTE.TO) after trade Monday said Azerbaijan's Parliament approved its exploration, development and production sharing agreement (EDPSA) for the onshore Guba-Khazaryani region. The agreement was originally signed by Gran Tierra and the State Oil Company of the Republic of Azerbaijan on Feb. 18, according to the statement. The company also said it completed an airborne digital full tensor gradiometry survey covering 4,815 square kilometers across the contract area. The data will help identify the geometry of structures that could contain oil and gas. "This information will be integrated with existing seismic and exploratory well data to optimize the selection of future seismic acquisition areas and exploration and appraisal drilling locations," the company added. The company's shares closed up CA$0.01 to CA$14.91 on the Toronto Stock Exchange.

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