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 warning highlights concerns over Kazakhstan's energy future, particularly regarding the Tengiz field, one of the country's largest oil producers. Exxon, which operates the field through a joint venture, indicated that without significant investment in new extraction technologies, output could decline rapidly.

This projection underscores the challenges facing Kazakhstan as it seeks to maintain its position as a major oil exporter. The Tengiz field accounts for a substantial portion of the country's crude production, and any sharp downturn could impact national revenues and energy security.

Kazakhstan government officials have not yet responded publicly to Exxon's assessment. However, analysts suggest the warning may pressure the government to accelerate negotiations with international partners to secure funding for enhanced oil recovery projects. Exxon has previously emphasized the need for modernization to sustain long-term output at Tengiz.

The situation also reflects broader trends in aging oil fields across the Caspian region, where declining reserves pose increasing risks to regional energy markets.