Kashagan accord deadline set for Dec. 20-consortium

MILAN, Dec 1 (Reuters) - A consortium led by Italy's Eni (ENI.MI) and Kazakhstan have agreed a Dec. 20 deadline for finalising settlement of a dispute over the country's giant Kashagan oilfield, the group said in a statement.

"Good progress" has been made in the talks between the two sides, the statement released on Saturday said, and a new memorandum of understanding has been signed establishing the framework for the settlement.

The two sides have been locked in a dispute over cost overruns and delays in developing the Caspian Sea field -- the biggest oil find for three decades. (Reporting by Jo Winterbottom, editing by Tony Austin)