KazMunayGas national company has refuted Bloomberg's information about ExxonMobil selling its stake in the Kashagan project. This was announced to journalists by KMG head Askhat Khasenov. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to him, the company does not confirm information about the possibility of selling ExxonMobil's stake in the Kashagan project. He also called the American company a reliable partner that has been working for many years.
ExxonMobil Upstream is a division of a major American oil company responsible for oil transportation, including oil produced at the Kashagan field. Kashagan oil is mainly transported through the infrastructure of the Caspian Pipeline Consortium.
ExxonMobil participates in major projects in Kazakhstan at the Tengiz and Kashagan fields. In spring 2026, company representatives discussed attracting investment to expand the Kashagan project. The investment is estimated at $50-70 billion.
Currently, CPC is Kazakhstan's main export route. In 2025, 64.8 million tons of the total 78.7 million tons of exported oil were shipped through this system. That is, more than 80% of all Kazakhstan's export oil passes through the CPC system.
The oil sector is considered one of the main sources of income for Kazakhstan's budget.