ExxonMobil is exploring opportunities for the development of unconventional hydrocarbon resources in Azerbaijan, said John Ardill, Vice President for Global Exploration at ExxonMobil, during the “Upstream Sector – New Horizons” session at the Baku Energy Forum, APA-Economics reports.
According to him, one of the company's main objectives in participating in the event in Baku is to discuss the potential of unconventional hydrocarbon resources in Azerbaijan.
“One of the reasons we are here today is to discuss ideas related to unconventional resources. We are examining why these resources are important and why they could be of interest to Azerbaijan,” he said.
John Ardill noted that the application of horizontal drilling and hydraulic fracturing technologies has enabled the United States to become the world's largest producer of oil and gas over the past 20 years.
According to him, ExxonMobil is exploring opportunities to apply the experience it has gained in developing unconventional resources in other countries as well.
“When bringing these technologies to international markets, we look at three key factors: suitable geological structures, commercial attractiveness, and a strong partnership model,” the ExxonMobil official stressed.
John Ardill added that the company is assessing prospects in Azerbaijan within the framework of this approach.
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