MILAN Nov 30 Italy's oil major ENI
does not intend to exercise its right of first refusal on
ConocoPhillips' stake in Kazakhstan's Kashagan oil
field, Chief Executive Paolo Scaroni said on Friday.
ConocoPhillips intends to sell its Kashagan stake to Oil and
Natural Gas Corp Videsh for about $5 billion.
Under the right of first refusal, its partners in the
Kashagan field, the biggest oilfield discovery in over four
decades, have nearly two months to decide whether they want the
8.4 percent stake in the project promised to the Indian group.
"We are not interested in exercising our right," Scaroni
told reporters on the sidelines of an event.
Existing partners in the Kashagan project are state-run
KazMunaiGas, Eni, ExxonMobil, Inpex Corp of
Japan, Royal Dutch Shell and France's Total.