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US Firm interested to have a share in the oil extraction of Amu River basin

in Afghan Business

US Firm interested to have a share in the oil extraction of Amu River basin

Exxon Mobil, an American multinational oil and gas corporation, has presented his offer for participating in the bidding for oil extraction in Amu River, after the award has already been granted to a Chinese company.

Exxon Mobil is considered one of the richest companies in the world, with refineries in 21 countries around the globe.

The company has acknowledged that they have filled out the form for bidding of oil extraction in the Afghan-Tajik basin. The basin in northern Afghanistan has an estimated of one billion barrels of oil.

The total area of the basin is 31 thousand km2 , as measured by a Canadian firm.

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.

According to a survey by American engineers, the basin is endowed with 444 billion cubic meters of liquid gas, 219 million tons of crude oil and 70 million tons of condensate oil. Condensate oil is a mixture of oil and gas.

Afghanistan Ministry of Mines signed the major oil and gas extraction contract of Amu basin with China National Petroleum Corporation (CNPC) last year. The deadline for expression of interest ends this week.

A number of Afghan experts are surprised at the Exxon Mobil’s interest in Amu River, given the security factors that exist in the area. The lack of infrastructure makes it difficult to bring the country’s oil and gas to international markets.

If Exxon Mobil offer is accepted, a touch competition among CNPC and India’s ONGC and Exxon Mobil will emerge.

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