Azerbaijan is hopeful about the discovery of a major unconventional oil field in the country with the support of U.S. energy giant ExxonMobil, Economy Minister Mikayil Jabbarov said at a special Cabinet meeting dedicated to President Ilham Aliyev’s recent visit to Washington, Azernews reports.
According to Jabbarov, the signing of a Memorandum of Understanding between SOCAR (State Oil Company of Azerbaijan) and ExxonMobil will have a positive impact on strengthening cooperation in the energy sector.
He stressed that Azerbaijan’s contribution to regional and global energy security was strongly highlighted during the talks in Washington. *“Today, Azerbaijan supplies natural gas to 10 U.S. allies. Overall, pipeline gas exports from Azerbaijan cover 14 countries. Our country has recently started supplying gas to Syria. The United States also emphasized Azerbaijan’s involvement in the oil and gas industries of its allies, such as Israel and the United Arab Emirates, as a welcome development,”* Jabbarov noted.
The minister also pointed to the role of Azerbaijan’s electricity and renewable energy potential in attracting foreign investment. He said the country is increasingly seen as a promising hub for data center infrastructure and artificial intelligence technologies.
“Azerbaijan plays an indispensable role in the implementation of a number of projects between the strategically important regions of Central Asia and the South Caucasus,” Jabbarov added.
