BAKU, Azerbaijan, February 12. The priorities for cooperation between the State Oil Company of Azerbaijan (SOCAR) and ExxonMobil and the potential for unconventional oil in Azerbaijan were discussed, Azerbaijan's Minister of Economy Mikayil Jabbarov wrote on his X page, Trend reports.
"During the meeting with Keith Simpson, Global Unconventional Explorations Manager of the US-based Exxon Mobil Corporation, we discussed cooperation priorities with SOCAR, as well as progress in assessing the potential of unconventional oil resources in Azerbaijan.
We also exchanged views on expanding low-carbon business opportunities and increasing the adoption of efficient technologies," the post reads.
Meanwhile, in June 2025, SOCAR and ExxonMobil Corporation signed a Memorandum of Understanding. The document provides for cooperation in Azerbaijan's oil and gas sector.