Oil Extraction To Be Started Soon In Amu River Zone

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Sunday October 7, 2012
Kabul (BNA) Repots are quoting minister of mines as saying that soon oil extraction process will be started from Amu River zone.
Minister of mines Wahidullah Shahrani told that the first phases of oil extraction will be started from the Amu River zone within the next 20 days.
While responding to the questions of senators in the senate regarding problems of the local people minister of mines said that nearly $ 400 to 600 million have been invested in Amu River oil zone and more that 250 million barrels of oil has been estimated in this area adding that Afghanistan extremely requires to fulfill production of energy of its oil so that reliance of the country into foreign markets are also decreased.
Minister of mines also pinned towards privileges of the Amu River oil zone and said that Afghanistan would have 15% shares on extracted oil and it was finalized in the view of current oil prices in the global markets adding that Afghanistan will also gain 70% of the benefits on share of Chinese company who has signed the contract to extract the oil.
Shahrani also talked about Dare-e-Soof coal mines and said that over the previous year Afghanistan produced up to $ 1.5 million tons of coal in Samangan province and received an amount of $ 42 million from coal export to neighboring Pakistan.
Minister of mines also explained challenges on way of mines extraction in the country and said that corruption, lack of technical and professional cadres alongside insecurity problems overwhelmingly affects mines extraction process in the country adding that the Chinese company won the bidding of the project for 25 years as Afghanistan is counted as one of the richest country in the world in terms of natural resources.
Meanwhile, economic analysts in the country believe that over the previous decade millions of dollars have been invested in mines sector in Afghanistan while practical extraction have not been started yet and these analysts emphasize on Afghan officials to ask concerned companies to pursue transparency in  extraction process.
A local resident Umid described insecurity as main challenge on way of oil extraction process in the country and urged on Afghan stakeholders to expedite efforts for restoration of durable peace and security of investors in the country.
It’s said that china is the biggest investor in the country and over the previous decade Chinese investors invested millions of dollars on Ainak Copper Mine Project and Hajigag steel mine.

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