ExxonMobil Holdings Corp. has tied a potential $80 billion joint investment in Kazakhstan's Kashagan oil field to resolving a $150 billion dispute with the government, according to livemint.com. The investment would be an equal joint venture with state-owned KazMunayGas National Co. to develop the western part of the Kashagan reservoir, which could produce up to 600,000 barrels per day.
The US oil major is in talks with Kazakh officials, making the investment contingent on settling claims related to lost revenue during development delays, the report said. The dispute involves the Kazakh government seeking about $150 billion from Kashagan partners. ExxonMobil’s proposal aims to unlock the undeveloped western section of the field, which remains untapped due to these ongoing disagreements.
This deal is significant given Kashagan’s status as one of the world’s largest oil fields, with production potential that could impact global energy markets. The $150 billion dispute has stalled progress for years, affecting international companies involved in the project. Resolving the conflict would pave the way for renewed development and increased output, aligning with Kazakhstan’s strategic energy goals and ExxonMobil’s expansion plans.
The talks and investment proposal were reported on August 10, 2026, by Bloomberg via livemint.com. The next steps depend on reaching an agreement to end the dispute, which has been a major barrier to further development of the Kashagan oil field.