ALMATY, Kazakstan. May 4: Mobil Corp and Kazakstan's government signed a final agreement Friday granting the US company a 25-per cent stake in the Tengizchevroil Joint venture for developing the Tengiz oil field, reports AP.

The field holds an,estimated 6 billion to 9 billion barrels of oil. The sum of the new agreement was not disclosed. /

Previously, the Kazak government had a 50-per cent stake in Tengizchevroil. a limited-liability partnership with the American Chevron Corp., through the state-owned Ten-gizmunaigaz company. The 40-year agreement was signed in 1993.

Under the new deal. Ten-gizmunaigaz's share will be re duced to 25 percent, and Chevron will continue to own 50 per cent.

The deal we signed today allows us to get money we were supposed to get within the next 37 years in advance." said Kazak Oil and Gas Minister Nurlan Balgimbayev. who signed the agreement with Mobil's chief executive Lucio A Noto.

"It is extremely important and profitable for Kazakstan, he said.

Kazakstan will receive 72 per cent of the profits after taxes and royalties, and the two US companies 28 per cent. Previously. Kazakstan and Chevron had agreed to keep 80 per cent and 20 per cent, respectively.

Chevron is negotiating to sell part of its share to the Russian company Lukoil, and an agreement could be concluded in a month or two. Bal gimbayev said.

The minister said Mobil was given preference by the Kazak {'overnment because of its ong-term commitment in the Central Asian country, and its involvement in the Caspian Pipeline ConsorUum for transporting Kazak oil to a Russian port on the Black Sea.

Under a separate agreement signed Friday. Mobil and Kazakstan's ministries for Oil and Gas. and for Energy and Coal, also declared they would work together on energy projects.