Taliban signs oil deal with Chinese firm
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Afghanistan’s taliban government has signed a 25-year oil extraction agreement with the Xinjiang Central Asia Petroleum and Gas Company (CAPEIC) that would see CAPEIC drilling for oil in the Amu Darya basin.
It is the Taliban’s first major international energy extraction deal since the group took control of the country in 2021.
“In terms of natural resources, Afghanistan is a wealthy nation. In addition to other minerals, oil is the wealth of the Afghan people on which the economy of the country can rely,” Bloomberg quoted deputy prime minister for economic affairs, Mullah Abdul Ghani Baradar Baradar as saying.
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The Chinese company will invest up to $150 million a year, which will increase to $540 million in three years, and will give jobs to 3,000 Afghans, the outlet added.
