The Production Sharing Agreement for the Guba-Caspian region has been approved, APA reports.
President Ilham Aliyev has approved the law "On the Adoption and Approval of the Agreement on Exploration, Development and Production Sharing for the Area Covering Certain Parts of the Guba, Gusar, Shabran, Siyazan and Khizi Districts of the Republic of Azerbaijan (Guba-Caspian), Concluded between the State Oil Company of the Republic of Azerbaijan, Gran Tierra Energy (Azerbaijan) GmbH and SOCAR Guba-Caspian LLC, and Authorization for Its Implementation."