Canadian Gran Tierra Energy to refocus on Azerbaijan after exiting Colombia and Ecuador

Canadian company Gran Tierra Energy Inc. plans to focus its operations on Azerbaijan and Canada following the completion of the sale of its assets in Colombia and Ecuador.

According to Report, citing Gran Tierra Energy, the company said in a statement that it currently operates in Canada, Colombia and Ecuador. "At this time, Gran Tierra operates in Canada, Colombia and Ecuador. However, following the closing of the previously announced transaction to divest its businesses in Colombia and Ecuador, the company"s primary areas of operation will be Azerbaijan and Canada. Gran Tierra intends to continue seeking attractive development opportunities that can further strengthen its asset portfolio," the statement said.

The company recalled that Azerbaijan's parliament has already ratified the production sharing agreement (PSA) for the exploration, development and production of the Guba-Khachmaz onshore block, signed between Gran Tierra and the State Oil Company of Azerbaijan (SOCAR). The agreement was signed by the parties on February 18, 2026. Gran Tierra is the operator of the project and holds a 65% interest in the PSA.

According to Gran Tierra President and CEO Gary Guidry, the agreement was ratified at the first plenary session of the autumn parliamentary session. As part of preparatory work in the contract area, Gran Tierra has already conducted an airborne gravity survey using the digital full tensor gravity gradiometry (dFTG) method. The company's specialists flew 102 profiles with a total length of 5,780 linear kilometers, covering an area of 4,820 square kilometers.

"The results of the dFTG survey will be used to determine the geometry of sedimentary basins and fault-related structures that may potentially contain hydrocarbon accumulations. The data obtained will be integrated with available seismic data and geological exploration results to optimally select areas for upcoming seismic surveys and the drilling of exploration and appraisal wells," the statement said.