Baku: ExxonMobil is exploring opportunities for the development of unconventional hydrocarbon resources in Azerbaijan, stated 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 Azeri-Press News Agency, 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. John Ardill emphasized that the company is focused on discussing ideas related to these resources and examining their importance and potential interest for Azerbaijan.

John Ardill highlighted 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 two decades. He noted that ExxonMobil is exploring opportunities to apply its experience in developing unconventional resources in other countries as well.

The ExxonMobil official also mentioned that when bringing these technologies to international markets, the company considers three key factors: suitable geological structures, commercial attractiveness, and a strong partnership model. John Ardill added that the company is assessing prospects in Azerbaijan within the framework of this approach.