Exxon Warns Kazakhstan’s Top Oil Field to Peak Within Years

Industries Energy Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Nariman Gizitdinov August 20, 2026 at 10:33 AM UTC Updated on August 20, 2026 at 10:20 PM UTC ExxonMobil Holdings Corp. has told Kazakhstan that the country’s top oil field is already on the cusp of peak output and its production will slump sharply in the coming decade. The Spring, Texas-based supermajor is seeking to invest billions of dollars in a new oil project at the nation’s Kashagan development, a step that would help to cushion a slide in production at Tengiz, its top deposit.