Azerbaijan hopes to discover a large unconventional oil field with the assistance of the American company Exxon Mobil, the Azerbaijani Minval media outlet reports. This was announced by Azerbaijani economy minister Mikayil Jabbarov at a special meeting of the Cabinet of Ministers dedicated to President Ilham Aliyev's recent visit to Washington.

According to Jabbarov, the signing of a memorandum of understanding between SOCAR—the state oil company of Azerbaijan—and Exxon Mobil will have a positive impact on the development of energy cooperation.

Jabbarov stressed that during the meetings held in Washington, "Azerbaijan's role in ensuring regional and global energy security was especially noted."

At present, Azerbaijan supplies natural gas to 10 US allies and a total of 14 countries through pipelines. And natural gas supplies to Syria have recently begun.

The US has positively assessed Azerbaijan’s participation in oil and natural gas projects of its allies Israel and the United Arab Emirates.

Jabbarov added that Azerbaijan’s energy resources, including renewable energy, make the country appealing for investments in data centers and artificial intelligence technologies.

According to Jabbarov, Azerbaijan “plays an irreplaceable role in the implementation of projects between Central Asia and the South Caucasus.”