Taliban signs E&P deal with Chinese oil group
Afghanistan’s Taliban administration has landed a contract with China National Petroleum Corp (CNPC) about oil extraction in the northern parts of the central Asian country, states the Afghan Ministry of Mines and Petroleum.
The deal marks the first larger contract secured by the Taliban with an international company after seizing power in August 2021.
Chinese authorities have not made any statements regarding the contract.
Wahidullah Shahrani, the Taliban’s acting minister of mines, says operations will take place in the Amu Darya basin in northern Afghanistan, bordering Turkmenistan, Tajikistan, Uzbekistan and Kyrgyzstan.
Through the agreement, CNPC is licensed to drill and extract oil in provinces Faryab and Sar-e Pul.
Prior estimates have suggested that Afghanistan holds oil reserves of approx. 1.6 billion barrels along with major volumes of gas.
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