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 North Caspian Operating Co., the joint venture that operates the project, expects to boost production to about 500,000 bpd this year and as much as 710,000 bpd by 2031. Exxon is seeking to unlock about 10 billion of these barrels from the western Kashagan development, according to people familiar with the matter. In Exxon’s plan, other oil majors that are currently partners in Kashagan would be offered minority stakes in the new joint venture, the people said. The development concept for an Exxon-led project to commercialize western Kashagan may cost $250 million, the people said.