Kazakhstan Negotiating Kashagan Field Expansion
Photo: kmg.kz
Only the eastern section of the Kashagan oil field is currently in operation, but production could rise significantly if negotiations with ExxonMobil move forward, Orda.kz reports.
According to Bloomberg, ExxonMobil — one of the project’s key partners — is holding talks with Kazakhstan on possible expansion plans. The discussions also include extending the Tengiz project license, which expires in 2033. In return for an extension, the Kazakh government is seeking to increase its ownership stake.
However, it remains unclear whether the sides will reach an agreement.
Discovered in 2000, Kashagan is regarded as the world’s largest oil find of recent decades. Current output stands at roughly 450,000 barrels per day, with plans to boost production to 500,000 barrels in 2026 and 700,000 barrels by 2031, once new gas processing facilities come online.
Kashagan is among the most technically challenging offshore projects globally, hindered by extreme weather, high reservoir pressure, and elevated hydrogen sulfide levels that complicate both operations and safety.
Earlier, Kazakhstan lost a legal dispute with Kashagan’s investors but continues to insist on the payment of a fine.
Original Author: Oksana Matvienko
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