16:56 - 24.08.2026
August 24, Fineko/abc.az. US energy major ExxonMobil has warned that oil production at Kazakhstan’s largest field, Tengiz, will plateau in 2027, followed by a steep decline.
According to a company presentation, without significant new investments, production at the field could drop by approximately 40% from its peak level to 500,000 barrels per day by 2035.
To offset the decline, ExxonMobil proposes investing $80 billion to expand another mega-field, Kashagan. However, execution of this plan remains contingent on resolving $150 billion in ongoing disputes between the Kazakh government and Western oil majors, as well as lifting a $5 billion environmental fine.
