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Exploration on oil and gas field in Sar-e-Pul Launched

in Afghan Business

Exploration on oil and gas field in Sar-e-Pul Launched

China National Petroleum Corporation (CNPC) begins oil and gas +exploration work at the Amu River basin in northern Sar-e-Pul province.

The ceremony was attended by high-ranking Afghan officials including First-Vice President Marshal Mohammad Qasim Fahim, ministers of interior, finance and mines, governors of Sar-e-Pul, Jawzjan and Faryab provinces and Chinese ambassador to Kabul.

CNPC, a Chinese state- owned, won the contract for the exploration project of the mentioned area 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.

Marshal Fahim said the project would generate employment opportunities for thousands of people. He also called on the government officials and the people to take responsibility to ensure security for the field.

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.


Tags assigned to this article:
Afghanistan oilamu river basinsar e pul

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