Bank Of Baku

Milli Majlis ratifies production sharing agreement on Guba-Caspian area

Milli Majlis ratifies production sharing agreement on Guba-Caspian area
# 30 September 2026 15:16 (UTC +04:00)

A draft law “On the Adoption and Approval of, and Permission for the Implementation of, the Agreement on Exploration, Development and Production Sharing for the Area Covering Parts of the Guba, Gusar, Shabran, Siyazan and Khizi Districts of the Republic of Azerbaijan (Guba-Caspian)” between the State Oil Company of the Republic of Azerbaijan, Gran Tierra Energy (Azerbaijan) GmbH and SOCAR Guba-Caspian LLC was submitted for discussion at today’s meeting of the Milli Majlis, APA reports.

Following discussions, the draft law was put to a vote and adopted in one reading.

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