Afghanistan’s mining ministry appoints firm to monitor Afg-Chin Oil and Gas Ltd

The Ministry of Mines and Petroleum (MoMP) has commissioned a private company to conduct oversight on all activities of Afg-Chin Oil and Gas Ltd.

Six domestic companies bid for the contract, the ministry said.

Shahabeddin Delawar, acting Minister of Mines and Petroleum, said that the purpose of supervising the activities of Afg-Chin Oil and Gas Ltd, which primarily extracts oil and gas in northern Afghanistan, is to ensure transparency.

According to Delawar, Afghanistan has a 20 percent share in the contract signed with Afg-Chin Oil and Gas Ltd. In line with this, it is necessary for oversight, he said.

This comes amid a flurry of activity in the mining sector in Afghanistan.

Since regaining power in August 2021, the Islamic Emirate has prioritized the development of mining on the whole.

While many of the mines are in the early stages of development, the Islamic Emirate’s initiative has had some results.

According to the World Bank, Afghanistan’s domestic revenue increased 22 percent year-on-year in April and May thanks to the auction of mines and resources such as oil, emeralds and nephrite, a type of jade prized in China.