Astana: The management of ExxonMobil is set to explore and develop major oil fields in Kazakhstan, with plans focusing on the largest fields in the region. A significant meeting occurred in Astana between Askhat Khasenov, Chairman of the Management Board of KazMunayGas, and senior figures from ExxonMobil, including John Whelan, Senior Vice President of ExxonMobil Upstream Company, and Cecile Rollin, Managing Director of ExxonMobil Kazakhstan Inc.

According to Trend News Agency, discussions during the meeting concentrated on the progress at the Tengiz and Kashagan fields. At Tengiz, under the Future Expansion Project/Wellhead Pressure Management Project (FEP-WPM), Tengizchevroil successfully commenced the operation of wellhead pressure management facilities this year. For Kashagan, Khasenov highlighted the strategic importance for KazMunayGas to maintain previously set project timelines, emphasizing that successful implementation requires coordinated and prompt decision-making from all partners, including Exx
onMobil.

The meeting also delved into issues concerning local content, particularly the localization of production for the Tengiz and Kashagan projects. In 2023, Tengizchevroil’s payments to domestic suppliers reached $3.9 billion, accounting for 71 percent of the total volume. In the first half of 2024, the level of Kazakh content was recorded at 70 percent. Meanwhile, NCOC, the operator for Kashagan, reported that payments for local content from 2004 to 2023 surpassed $17 billion, with Kazakh suppliers comprising over 62 percent in the first half of 2024.

Both parties expressed confidence in continuing their successful partnership following the meeting. ExxonMobil, which has been operational in Kazakhstan since 1993, holds a 25 percent stake in Tengizchevroil, the developer of the Tengiz and Korolev fields.