* China seen winner of major field stake in three sided deal
* Deal under discussion as more Kazakh crude heads east
* Stake price seen at $5.3-$5.4 billion
ALMATY/MOSCOW, June 28 (Reuters) - China is the likelywinner of ConocoPhillips' share in Kazakhstan's Kashaganfield, giving Beijing a stake in one of the biggest oil finds ofthe last few decades, three sources familiar with the talks saidon Friday.
The purchase would highlight a growing strategic partnershipbetween Kazakhstan and China as Astana diverts more crudeeastward towards its energy-hungry neighbour and away fromsaturated European markets.
A sale of Kashagan equity to a Chinese company would ensurethat a healthy share of oil from the Caspian Sea field,containing 12 billion barrels of reserves, will flow over theshared eastern border between the two countries.
One of the source said the Chinese side, likely ChinaNational Petroleum Corp, would pay around $5.3-$5.4billion for the stake in the North Caspian Operation Company(NCOC), but the final price was not determined. The other twosources did not provide price details.
CNPC was not available for comment.
"(They) will chase (the stake) very aggressively as theBeijing authority is desperate to fill the empty oil pipelinefrom the Caspian side to Xinjiang," said Keun-Wook Paik, afellow at the Oxford Institute for Energy Studies specialisingin China's energy ties with former Soviet states.
The sale could be a complex three-sided one, with state oilcompany Kazmunaigas taking control of the 8.4 percent stake inthe field operator from ConocoPhillips, which is whittling downits worldwide portfolio, possibly backed by a Chinese loan.
Then the stake could be resold to a Chinese oil company,whole or in part, two of the sources said.
Kazakhstan has pre-emptive purchase rights and its decisionis due on Tuesday, July 2.
ConocoPhillips had said it intended to sell the stake toIndia's state-run Oil and Natural Gas Corp for about$5 billion.
