ExxonMobil seeks $80-billion Kazakhstan oil venture tied to dispute resolution

(Bloomberg) – ExxonMobil Holdings Corp. has told Kazakhstan that a potential $80 billion joint investment to expand the Kashagan oil field is contingent on resolving a long-running $150 billion dispute between the government and international companies, according to people familiar with the matter. 

The proposed investment, in an equal joint venture with state-owned KazMunayGas National Co., would tap the undeveloped western part of the massive Kashagan oil reservoir, potentially producing as much…