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KazMunaiGas reaches deal with Kashagan partners

Sun Jan 13, 2008 4:49pm EST

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MILAN, Jan 13 (Reuters) - Kazakhstan's KazMunaiGas has reached a deal with an Eni-led (ENI.MI) consortium over developing the giant Kashagan oil field which will give it an equal share in the project with the largest shareholders.

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In a statement, the Kazakh company said all companies in the consortium -- which also includes Royal Dutch Shell (RDSa.L), France's Total (TOTF.PA), U.S. companies Exxon Mobil (XOM.N) and ConocoPhillips (COP.N) and Japan's Inpex (1605.T) -- had agreed unanimously to the new terms.

The biggest shareholders in the group -- Eni, Royal Dutch Shell, Exxon Mobil and Total -- each had 18.52 percent in the field.

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