Afghan-Chinese Oil Project Begins Work

Work June 24 began in Afghanistan's first oil project, Fergana News reported June 24, quoting China's People's Daily.

China National Petroleum Corporation and the Afghan government signed a contract in December to drill for oil in the Amu Darya River basin in Sar-e-Pul Province. The deposit is estimated to hold 87m bbl of oil. Under the agreement, Kabul will receive 70% of the revenues from the project.

Yearly production is expected to start at 150,000bbl and to reach 200,000bbl in two years, Afghanistan.ru reported.