ExxonMobil has informed Kazakhstan that its largest Tengiz oilfield is expected to peak next year and decline by nearly 40% to about 500,000 barrels per day by 2035. However, ExxonMobil stated that this is not a crisis, as it plans to achieve growth through other major capital projects. The company expects total oil and gas production to increase from 4.7 million barrels per day last year to 5.5 million barrels per day by 2035. Key growth drivers include Guyana, liquefied natural gas (LNG) projects, and the Permian Basin, where Permian production is expected to double to about 2.5 million barrels per day by 2030. Additionally, the company is pursuing a potential $80 billion joint investment in Kazakhstan's Kashagan field, although the project faces disputes with the Kazakh government.