Higher oil price could spur Kashagan talks -Eni
ROME, May 20 (Reuters) - Soaring oil prices could be a factor in talks on a new accord to develop Kazakhstan's huge Kashagan oilfield, Eni SpA (ENI.MI) Chief Executive Officer Paolo Scaroni said on Tuesday.
The Italian oil major is heading a consortium of Western oil companies developing Kashagan. The group and the Kazakh government have been in talks to complete structural and production details for a tentative accord signed in January.
"The flare-up in the price of oil has an impact on the talks that is at least psychological since that which was decided with oil at $70 (a barrel) can be a subject for renegotiation with oil at $127," Scaroni told reporters on the margins of a company event.
"In the meantime, investment is continuing."
He added that there was no forecast for when a final accord could be reached.
Kashagan is the world's biggest oil find in three decades. The Kazakh energy minister said last week that the Central Asian country could impose sanctions if the Eni-led consortium decides to delay production. (Reporting by Stefano Bernabei, writing by Ian Simpson)
