UPDATE 1-Inpex to cut stake in Kashagan field to 7.56 pct

(Recasts, adds details)

TOKYO, Feb 8 (Reuters) - Inpex Holdings Inc (1605.T) said on Friday it would slightly lower its unit's stake in Kazakhstan's Kashagan oil field, but the move would not affect its earnings for the fiscal year ending in March.

The Japanese oil and gas explorer said in a statement it would reduce its stake in the field to 7.56 percent from 8.33 percent, with the agreement expected to be finalised in May.

Inpex has not yet issued earnings forecasts for the fiscal year starting in April.

The move comes after members of an Eni-led (EN.MI) consortium including Inpex agreed in January to dilute their stakes in the oil field, to enable the Kazakh state-owned KazMunaiGas to nearly double its stake to equal that of the biggest investors in the Kashagan project. [ID:nL1455768]

Under the agreement, KazMunaiGas' stake would rise to 16.51 percent from a previous 8.33 percent. The largest shareholders in the project would reduce their stakes on a pro rata basis to bring their holdings in line with that of KazMunaiGas.

The largest shareholders in the group -- Eni, Royal Dutch Shell (RDSa.L), Exxon Mobil (XOM.N) and Total (TOTF.PA) -- each had 18.52 percent in the field.

The Inpex unit that owns the stake in Kashagan field is owned 50 percent by Japan's state-run Japan Oil, Gas and Metals National Corp (JOGMEC); 45 percent by Inpex; and 2.5 percent each by Mitsubishi Corp (8058.T) and Japan Petroleum Exploration Co (1662.T). (Reporting by James Topham; Editing by Chris Gallagher)