ExxonMobil Holdings Corp. has told #Kazakhstan that the nation’s top oil field is already on the cusp of peak output and that 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. Tengiz output is set to plateau next year before sliding to about 500,000 barrels a day by 2035 — a slump of about 40% from its high, according to part of a company presentation made to authorities in Astana that was seen by Bloomberg. #oott bloomberg.com/news/articles/…

ExxonMobil Holdings Corp. has told #Kazakhstan that the nation’s top oil field is already on the cusp of peak output and that 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. Tengiz output is set to plateau next year before sliding to about 500,000 barrels a day by 2035 — a slump of about 40% from its high, according to part of a company presentation made to authorities in Astana that was seen by Bloomberg. #oott bloomberg.com/news/articles/…

Source:https://x.com/staunovo/status/2090416691633090673