SOCAR and Gran Tierra Energy sign deal for oil exploration and production in Azerbaijan

BAKU, Feb 19 (Reuters) - Azerbaijan's state oil company SOCAR and Canada-based Gran Tierra Energy Inc. have signed an exploration, development and production-sharing agreement for a prospective onshore area in Azerbaijan’s Guba–Khazaryany region, SOCAR said.

It said Gran Tierra Energy will hold a 65% working interest and act as operator of the project. The agreement will enter into force following its ratification by Azerbaijan’s parliament.