ExxonMobil, SOCAR to Bring U.S. Fracking to Azerbaijan

Why it matters now

For the last 15 years, US shale has been the biggest driver of fresh global oil supply, helping make the US the top crude producer and a liquefied natural gas exporter. ExxonMobil and other companies aim to export the methods refined in West Texas's Permian Basin as well as across US shale regions to geologies that look similar.

The road to get here

Setting up drilling and production outside the US can be trickier, with local legal and regulatory hurdles that often mean lengthy negotiations before any rigs move in. ExxonMobil and SOCAR have been working through commercial and other terms for over a year, a process that received encouragement from the Trump administration.

Energy partnerships can prompt investors to reassess how they protect and grow savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.

What ExxonMobil says

Speaking on the deal, ExxonMobil senior vice president Bart Cahir said, "We will combine SOCAR's knowledge of Azerbaijan with ExxonMobil's global experience and technology to better understand the basin's potential and pursue opportunities for safe and efficient development."

When new projects emerge, keeping a steady plan for your money remains important. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.

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NEWS / Global Scoop

ExxonMobil teams up with SOCAR to bring U.S.-style fracking to Azerbaijan

Summary:

The deal and the target

Why it matters now

The road to get here

What ExxonMobil says

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