The Kabul times, Afghanistan Trustable News Agency.
EconomicGovernmentNational

Start of raw oil extraction to boost economic development

The extraction process of raw petroleum products has been started from a new well in Qashqari area in Sar-e-Pul. The start of raw petroleum extraction will help boost economic development in the country. Extraction of raw petroleum from Sar-e-Pul’s Qashqari area was officially started in a ceremony that was held and attended this Friday by acting minister of mining and petroleum, Sheikh Shahabuddin Dilawar, officials of finance ministry, provincial authorities, head of Chinese company and other local officials. The public-run petroleum and gas company of Afghanistan and Chinese firm would jointly carry out the extraction of raw oil from the 21st well in Qashqari area of the province. After opening, acting minis ter of mines and petroleum Sheikh Shahabuddin Dilawar said that about 70 tons to 100 tons of raw petroleum products would be extracted from the well per day, adding that 15 more wells would be dug till the end of the current year. He further said that It would increase the extraction of raw petroleum products up to 1000 tons a day, stressing that the revenue of these wells would be utilized for the reconstruction projects in the country particularly in Sar-ePul. He urged national and foreign investors to put their investments in this sector. According to information of finance ministry, about 70 tons of raw oil would be extracted from the well during 24 hours. The extraction would be increased to 100 tons soon. With the Islamic Emirate takeover and improvement of security across Afghanistan, national and international investors have shown their interest in investment in the country’s mining sector. Afghanistan’s ministry of mine and petroleum signed a contract with a Chinese company to extract oil from the Amu Darya basin and develop an oil reserve in the country’s northern Sar-e Pul province early this year. The contract was signed by acting Minister of Mines and Petroleum Sheikh Shahabuddin Delawar and an official of Xinjiang Central Asia Petroleum and Gas Co (CAPEIC) in a ceremony held in capital Kabul in early Jan 2023. It was the first major public commodities extraction deal the Islamic Emirate of Afghanistan had signed with a foreign company since taking power in 2021. Since mid-August 2021, several small and major projects have been approved by the Economic Commission. Besides, fundamental steps have been taken by the commission for the prosperity of the country and public welfare. The leadership of the Islamic Emirate has repeatedly asked both national and international investors to invest in Afghanistan. It is worth mentioning that dozens of contracts have been signed with both national and foreign companies for extraction of the country’s mines and minerals. Extraction of the country’s mines will help boost economic development and provide job opportunities for the people in the country. Mohammad Daud

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The Kabul times, Afghanistan Trustable News Agency.