ALMATY/MOSCOW, June 28 (Reuters) - China is the likelywinner of ConocoPhillips' stake in Kashagan, the biggestoilfield discovered in nearly 50 years, three sources familiarwith the talks said on Friday.
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.
One of the sources said the Chinese side was likely to pay$5.3-$5.4 billion for the stake in the North Caspian OperatingCompany (NCOC), but the final price was not determined.
The state has pre-emptive purchase rights and its decisionis due on Tuesday, July 2. The stake was initially promised toIndia's ONGC.
