ASTANA, Kazakhstan, November 2. The management of ExxonMobil plans to explore and develop the largest oil fields in Kazakhstan, Trend reports via KazMunayGas.
A meeting took place between the Chairman of the Management Board of KazMunayGas, Askhat Khasenov, and the Senior Vice President of ExxonMobil Upstream Company, John Whelan, along with the Managing Director of ExxonMobil Kazakhstan Inc., Cecile Rollin, in Astana, Kazakhstan.
During the meeting, the progress of development at the Tengiz and Kashagan fields was discussed. Specifically, under the Future Expansion Project/Wellhead Pressure Management Project (FEP-WPM) at Tengiz, Tengizchevroil commenced the operation of wellhead pressure management facilities this year.
Regarding the development of Kashagan, Khasenov emphasized the strategic importance for KazMunayGas to adhere to previously set timelines for projects in the further development of the field. Successful implementation requires coordination and prompt decision-making from all partners, including ExxonMobil.
The meeting also addressed local content issues, focusing on the localization of production for the needs of the Tengiz and Kashagan projects. In 2023, total payments by TCO (Tengizchevroil) to domestic suppliers amounted to $3.9 billion, representing 71 percent of the total volume. For the first six months of 2024, the level of Kazakh content was 70 percent.
Total payments by NCOC (the operator for Kashagan) for local content from 2004 to 2023 exceeded $17 billion. In the first half of 2024, the share of Kazakh suppliers accounted for over 62 percent.
Following the meeting, both parties expressed confidence in the continuation of the fruitful partnership between KazMunayGas and ExxonMobil.
ExxonMobil has been operating in Kazakhstan since 1993 and owns a 25 percent stake in Tengizchevroil, which develops the Tengiz and Korolev fields.