English | دری

Afghanistan begins extracting raw petroleum from Amu River

in Afghan Business

Afghanistan begins extracting raw petroleum from Amu River

The extraction of raw petroleum from the Amu River has officially begun.

The contract for extraction of petroleum from the zone was awarded to the China National Petroleum Coroporation (CNPC) last year.

The project would reward the government with USD 7 billion in revenue over the next 25 years with annual revenue of USD 400 million.

The success of the project would signal green light to foreign investors and would be a big step towards economic development.

150,000 barrels of oil are expected to be extracted from the wells until the end of this year and the production would be increased to 300,000 barrels until 2013. Afghanistan would soon be standing among other oil-rich nations.

Oil from Amu River and Afghan Tajik oil zones will not only be sufficient for Afghanistan, but also could export oil to other countries, said Afghan Mines Minister Wahidullah Shahrani.

The Amo River zone is located in Sar-i-Pul and Faryab provinces and it was discovered by Swedish experts. In 1957, its capability was estimated to be 87 million barrels.



Related Articles

Afghanistan to become a member of the WTO

Commerce and Industries Deputy Minister Muzamil Shinwari said at a press conference on Sunday that Afghanistan will soon gain membership

Afghanistan hikes price of imported electricity by 25%

Da Afghanistan Breshna Sherkat (DABS), Afghanistan’s national utility company, has hiked the price of imported electricity by 25%. DABS spokesperson

Construction of the Marriott Hotel in Kabul stopped

The plan for the construction of the Marriott Hotel in Kabul has been cancelled due to rising concerns about the

1 comment

Write a comment
  1. Mohammad Saleem Anwar
    Mohammad Saleem Anwar 22 October, 2012, 05:40

    It is a very good news for which all Afghans were waiting. It’ll diffidently lead us toward development. I request local tvs to prepare a detailed program on that we all could see the processes.

    Reply this comment

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.