Kazakhstan and Exxon Eye Next Phase of Kashagan—Despite Legal Crossfire
Update: 2025-10-30
Description
Kazakhstan is renegotiating the Kashagan oil field project with ExxonMobil, aiming to expand and connect it with Tengiz. After a year of legal disputes, Kazakhstan seeks more control and cash, while ExxonMobil prefers stability. Kashagan's challenging geology and high costs make expansion slow and expensive, but the potential rewards are significant. KazMunayGas leads the expansion efforts, aiming to meet production targets and assert dominance within OPEC Plus. If ExxonMobil hesitates, Kazakhstan may invite new players, risking its long-standing deals with international oil giants.
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