ExxonMobil studying unconventional resource opportunities in Azerbaijan, vice president says

ExxonMobil is studying opportunities to develop unconventional resources in Azerbaijan, where a number of geological formations have not yet been extensively explored, ExxonMobil Vice President John Ardill said at Baku Energy Week.

Ardill said the company was in Baku to examine opportunities related to unconventional resources, which played a key role in transforming the United States from the world’s largest importer of oil and natural gas into the world’s largest producer.

“That’s why ExxonMobil is here in Baku today – to look at those opportunities,” Ardill said.

He said successful development of such projects requires three key elements: the right geology, competitive commercial terms and strong partnerships among governments, investors, operators and service companies.

According to Ardill, ExxonMobil has been developing unconventional resources for about 20 years and currently produces around 1.6 million barrels of oil per day in the Permian Basin in the United States. The company plans to increase output to 1.8 million barrels per day by the end of this year and to 2.5 million barrels per day by 2030.

In June 2025, SOCAR and ExxonMobil signed a memorandum of understanding to assess the potential of unconventional resources in Azerbaijan.

Ardill said horizontal drilling and hydraulic fracturing technologies, which drove rapid production growth in the United States, could also be applied in other countries where suitable geological and commercial conditions exist.

N.Tebrizli