SOCAR to Conduct 2D Seismic Exploration in Azerbaijan with Canadian Company
The State Oil Company of Azerbaijan (SOCAR) is preparing to carry out 2D seismic exploration in the Guba-Caspian oil and gas region jointly with Canada's Gran Tierra Energy.
According to Report, citing SOCAR, the exploration activities are planned under the Production Sharing Agreement (PSA) covering the exploration, development, and production of hydrocarbons in a prospective onshore block located within the region.
According to the company, a meeting was held at the Guba District Executive Authority as part of the project's preparatory phase. Participants discussed the next stages of the project and the work to be carried out.
It should be recalled that the relevant agreement between SOCAR and Gran Tierra Energy was signed in February this year. Under the terms of the agreement, Gran Tierra Energy Inc., which will serve as the project operator, will hold a 65% participating interest in the project.
The project includes the collection of gravimetric data, the implementation of 3D seismic surveys, and the drilling of exploration wells aimed at identifying the hydrocarbon potential of the contract area.
https://report.az/energetika/socar-kanada-sirketi-ile-azerbaycanin-quru-erazisinde-seysmik-kesfiyyat-aparacaq