BAKU, Azerbaijan, October 12. A production sharing agreement regarding exploration, development, and production for the Guba-Caspian area has been approved in Azerbaijan.
President of the Republic of Azerbaijan Ilham Aliyev has approved the relevant law on the acceptance, approval, and authorization of the implementation of the agreement concerning exploration, development, and production sharing for the territory covering parts of the Guba, Gusar, Shabran, Siyazan, and Khizi districts (Guba-Caspian) between the State Oil Company of Azerbaijan, Gran Tierra Energy (Azerbaijan) GmbH, and SOCAR Guba-Caspian LLC.
The text of the document has been published on the official website of the President of Azerbaijan.