WASHINGTON, U.S., March 10. Azerbaijan’s state
oil company (SOCAR) is looking for partners to develop geothermal
projects, said Vice President of Azerbaijan’s state oil company
(SOCAR) Afgan Isayev, Trend’s special correspondent reports.
He made the remarks during a panel discussion titled "Energy
Infrastructure & Capital Flows Into Energy's Future" held within
the framework of the U.S.-Azerbaijan Trade and Business Conference,
dedicated to the 30th anniversary of the U.S.-Azerbaijan Chamber of
Commerce (USACC).
“We are interested for the first time in the region to look at
unconventional ways of developing energy resources. And that is why
together with ExxonMobile, we are looking at fracking and
non-fracking. And so close to 20% of the country will be looked at
together with Exxon for this type of projects. So together, we are
working with experts on onshore, looking at fracking and
non-fracking. We are well aware that there are certain
environmental issues. We will be able to resolve this environmental
issue as well. We will keep giving them the ideas, technologies,”
he said.
Isayev pointed out that fracking technology of US companies can
be used for geothermal purposes as well.
“We haven't done geothermal projects for the purposes of
producing oil. But for us, it's still interesting. And we are
looking for partners who can join us as equity partner in
developing geothermal together,” he added.
