Editor in Chief: Moh. Reza Huwaida Friday, March 29th, 2024

CNPC Agrees Oil Deal with Afghanistan: Official

CNPC Agrees Oil Deal with Afghanistan: Official

KABUL - Chinese state-owned oil giant China National Petroleum Corp (CNPC) has reached final agreement with the Afghan government to develop an oil field there, an Afghan mines ministry official told Reuters on Wednesday.

JalilJumriany, policy director at the mines ministry in Kabul, said the terms of the oil project have been finalized and senior officials on both sides were expected to approve it within two months. "The investment of the project will be huge, and in the first two years, the investment will be at least $200-300 million," Jumriany said.

The deal covering drilling and a refinery in the northern province of Sar-e Pul is the first international oil production deal signed by the Afghan government for several decades. (Reuters)