ONGC Videsh Ltd, the overseas arm of the state owned Oil and Natural Gas Corporation, ONGC, has agreed to buy 8.4 per cent stake of US energy major, Conoco Phillips in Kazakhstan's Kashagan oil-fields for about 30,000 crore rupees.However, the stake will be subject to the approval of government of Kazakhstan and India and also other partners in the Caspian sea field waiving their pre-emption rights. Kazakhstan field currently produces 3 lakh, 70 thousand barrels of oil daily. The field is operated by an international consortium under the North Caspian Sea production Sharing Agreement.