ConocoPhillips plans $5 bln sale of stake in blocks off Kazakhstan

Mon Nov 26, 2012 8:12am EST

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Nov 26 (Reuters) - ConocoPhillips said plans to sell its 8.4 percent interest in blocks off the coast of Kazakhstan to India's ONGC Videsh Ltd and expects to generate $5 billion.

The oil and gas company said it has notified government authorities in Kazakhstan, and its partners in the North Caspian Sea production sharing agreement of its intention to sell the stake.

Its partners include Eni Spa ExxonMobil Corp , KazMunaiGas, Royal Dutch Shell Plc, Total and Inpex Corp