This article examines the current issues regarding the impact of ESG factors (environmental, social, and governance) on the development strategies of Kazakhstan’s oil and gas companies amid the global energy transition and the strengthening of sustainable development requirements. Special attention is paid to how international ESG standards, changing investment criteria, and tightening environmental regulations are transforming corporate priorities, operational processes, and long-term planning within the industry. The article analyzes the influence of factors such as decarbonization, energy efficiency, social responsibility, and transparency in corporate governance on the competitiveness of companies in international markets. The purpose of the study is to determine the extent and mechanisms of influence of ESG approaches on the strategic development of oil and gas companies in Kazakhstan, as well as to identify key areas for the industry's adaptation to new sustainable development requirements. The methodological approach includes a study of internal and external characteristics, as well as a comprehensive analysis of ESG standards, an assessment of corporate reporting of oil and gas companies, and strategic and SWOT analysis. This made it possible to identify the vectors of ESG changes.The objectives of the article are to substantiate the influence of ESG on the development strategy of the oil and gas cluster, taking into account national characteristics, and to identify practical approaches aimed at increasing investment attractiveness.The implementation of ESG approaches is becoming a key sustainability priority for oil and gas companies. Key areas of focus include investment conditions, regulatory pressure, and new technologies. The following development paths are substantiated: implementing innovations, reducing the carbon footprint, improving corporate governance, and enhancing social responsibility. It is concluded that ESG transformation is not only a requirement of the external environment but also a tool for improving the efficiency and competitiveness of companies.

ESG; sustainable development; oil and gas companies; corporate strategy; decarbonization; corporate governance; energy transition.