China National Petroleum (PTR) is set to buy a $5B stake in Kazakhstan's largest oil field,...

|By:, SA News Editor

China National Petroleum (PTR) is set to buy a $5B stake in Kazakhstan's largest oil field, reports Bloomberg, in what would be the biggest deal ever for CNPC. Kazakhstan's state oil company KazMunaiGaz would sell its 8.33% interest in the potential 370K bbl/day Kashagan project but would then exercise an option to acquire ConocoPhillips' (COP) 8.4% stake in the project.