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Taliban Signs First Foreign Deal With China for Oil Extraction Project

Started by Epoch-Times-Bot, Jan 07, 2023, 01:30 AM

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Epoch-Times-Bot

Jan 07, 2023, 01:30 AM
Taliban Signs First Foreign Deal With China for Oil Extraction Project

The Taliban regime in Afghanistan has signed an oil extraction agreement with China’s Xinjiang Central Asia Petroleum and Gas Co (CAPEIC), the country’s first major foreign deal since the Taliban seized control in 2021.
Under the contract, the CAPEIC will invest $150 million in one year and $540 million in the next three years for oil extraction in Afghanistan’s Amu Darya Basin, Taliban spokesperson Zabihullah Mujahid said.
“In this contract, the Islamic Emirate will be a 20 percent partner, and this share will increase to 75 percent,” he said in a Twitter post on Thursday.
Zabihullah said they will extract oil from an area covering 4,500 square kilometers (1,737 square miles) in Sar-e Pul, Jawzjan, and Faryab provinces, with the daily extraction rate increasing from 1,000 to 2,000 tons gradually....

Source: Taliban Signs First Foreign Deal With China for Oil Extraction Project

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