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Afghan oil deal
Source: Agencies |
December 28, 2011, Wednesday
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Print Edition
Print Edition
AFGHANISTAN will sign a deal today allowing China's state-owned National Petroleum Corporation to become the first foreign firm to produce oil in the country, the Ministry of Mines said.
The deal will allow the Chinese firm to work oil blocks in the northeastern provinces of Sari Pul and Faryab. The area, known as the Amu Darya River Basin, is believed to have reserves of about 87 million barrels of oil. The contract calls for CNPC to form a joint venture with an Afghan partner, the Watan Group.
The deal will allow the Chinese firm to work oil blocks in the northeastern provinces of Sari Pul and Faryab. The area, known as the Amu Darya River Basin, is believed to have reserves of about 87 million barrels of oil. The contract calls for CNPC to form a joint venture with an Afghan partner, the Watan Group.
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