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3 companies shortlisted for oil extraction in Afghanistan

in Afghan Business

3 companies shortlisted for oil extraction in Afghanistan

Minister of Mines Waheedullah Shahrani announced on Monday that bids from companies of Kuwait, the United Arab Emirates and Turkey have been shortlisted for a major oil and gas exploration project in the Tajik Basin in northern Afghanistan.

The companies are Dubai’s Dragon Oil, Kuwait Energy and the Turkish Petroleum Corp.

A total of 20 international companies had expressed interest in the project and eight of them were judged eligible, including Exxon Mobil based in Texas, U.S.A.

Afghanistan is turning to exploiting its mineral wealth to become self-sufficient, as the revenues from foreign aid are expecting to drop drastically with the withdrawal of international troops by year-end 2014.

The basin is surrounded by oil and gas field of Hindu Kush Mountains in the East, Amu River in the North and West, and Alborz Mountains of Balkh in the South.

China’s National Petroleum Corporation became the first foreign company to start oil production extraction in Afghanistan, and is scheduled to build the country’s first refinery within the next three years.



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