Kazakhstan and an Eni-led consortium of oil majors have set January 15 as the new deadline for talks over the fate of the giant Kashagan oilfield, Kazakh energy minister Sauat Mynbayev said.

Kazakhstan is seeking a cash payment and a stake increase as compensation for cost overruns and delay in the start of production at the world's largest oil find in the last 30 years.

"We have agreed with everyone but Exxon," Mynbayev told reporters.

Exxon said last week it was not against cutting its stake in favour of Kazakh state company KazMunaiGas, but had its own view on valuing the deal.

Mynbayev said Kazakhstan did not like Exxon's offer.

"Such an approach bears risks for the project," he said.

Operator Eni, Royal Dutch Shell, Total and ExxonMobil have 18.52 percent in Kashagan each. Smaller stakes belong to ConocoPhilips, with 9.26 percent, Japan's Inpex and KazMunaiGas, with 8.33 percent each. - Reuters