Afghanistan receives 62% of revenue from oil deposits in River Amu basin
Mon Jul 09, 11:28 am
Afghanistan will collect the majority of the revenue from the River Amu basin based on the agreement with the Chinese firm that has the oil extraction license, according to the officials of Ministry of Mines.
Minister of Mines Wahidullah Shahrani said on Sunday that the share of Afghanistan in the extraction of oil from Amu River basins would be 62 percent.
The contract of oil extraction from River Amu basins was signed with a Chinese firm, and it has already started the operations last month.
The minister said initial work has begun to find suitable development partners for the six remaining oil fields in the country.
Based on geological surveys, these six oil fields are located in different provinces like northern Jawzjan, Faryab, Sar-i-Pul, Balkh, Kundoz and western Herat and southern Helmand and Paktika.
According to Shahrani, if the program of extraction of underground resources is implemented according to the projected time-line, Afghanistan will become self-sufficient in providing for its own energy needs within the next four years. There will also be many employment opportunities for Afghan workers.
Afghanistan has massive untouched underground resources that are considered by many to be the only hope of building a strong economy for the country.