Kazakhs to sell China 8.33 percent in Kashagan oilfield for $5 billion: sources

EnergyReuters

Kazakhstan will sell 8.33 percent of its giant Kashagan oilfield to China for about $5 billion in a deal to be signed later on Saturday, Kazakh government sources told Reuters.

The sale and purchase agreement will be signed by the heads of Kazakh national oil and gas company KazMunaiGas and China National Petroleum Corp (CNPC) in the Kazakh capital Astana, said the officials, who requested anonymity.

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"We suppose that the transaction will be closed by late September or late October," one of the officials said.

(Reporting by Mariya Gordeyeva; Writing by Dmitry Solovyov; Editing by Robin Pomeroy)