March 7. The Ministry of Mining and Oil of the Taliban announced a groundbreaking auction of oil produced in Afghanistan that took place in Kabul, Interfax reports.
The Acting Minister of Mining and Oil Shahabuddin Delaware oversaw how 20,000 tons of Kashgar oil and 7,000 tons of Angut oil were sold on Tuesday in the building of the ministry in Kabul.
"We are witnessing the first trading in oil produced in Afghanistan, and we are proud that the refinery companies are also inside the country," the acting minister said opening the trading ceremony.
The expected volumes of oil production are indicated with a gradual increase from 1 thousand to 23 thousand tons/day. China has pledged to invest between $150 million and $540 million in three years. The extracted oil will have to be processed in Afghanistan.
Afghanistan will be a partner in this project with a participation share of 20% with a further gradual increase to 75%. The term of the contract is 25 years which is the first international investment deal since the Taliban came to power in Afghanistan.
Taliban and the Chinese oil and gas company CAPEIC signed a contract to develop oil fields in the north of the country.
"The area of the fields transferred to the Chinese company under the contract is 4.5 thousand square kilometres, they are located in three provinces of the country: Sirpul, Jawzjan and Faryab," the state news agency Bakhtar said.
Comments (0)