Taliban-Led Afghanistan Begins Extracting Oil
(MENAFN- AzerNews) Afghanistan's Taliban-led government started extracting oil from
wells in the north of the country.
"Priority will be given to the employment of technical and
non-technical staff and the reconstruction of the mine using the
revenues of Sar-e-Pul," acting Mines and petroleum Minister Sheikh
Shahabuddin Delawar, Azernews reports.
The Qashqari basin has 10 wells and 200 tons of oil is being
extracted from nine, the Kabul Times reported, citing a statement
by the Mines and Petroleum Ministry.
Officials hope to increase the extraction capacity from Qashqari
to more than 1,000 tons.
Following a return to power in Kabul in 2021, the Taliban signed
an agreement last year with a Chinese company to extract oil from
Sar-e-Pul.
In January, the interim Afghan Taliban government also signed a
25-year contract with a Chinese firm to extract oil from the Amu
River basin and develop an oil reserve in the north.
According to the contract, the Chinese company will invest $150
million in the first year and increase to $540 million in three
years.
Afghanistan is estimated to be sitting on untapped resources of
more than $1 trillion, which has attracted the interest of foreign
investors.
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