Global Oil Majors Eye Biggest Kazakh Oilfiled, Kazakhstan Against

Kazakhstan together with a consortium of oil majors, led by Italian oil major ENI have set new deadline of January 15 for talks on the giant Kashagan oilfield.

The Central Asian state is seeking a cash payment and a stake increase as compensation for cost overruns and delay in the start of production at the world's largest oi deposit in the last 30 years.

"We have agreed with everyone but Exxon," Kazakh energy minister Sauat Mynbayev said.



Exxon said last week it was not against cutting its stake in favor of Kazakh state company KazMunaiGas , but had its own view on valuing the deal.