Editor in Chief: Moh. Reza Huwaida Tuesday, January 23rd, 2018

Chinese Company Likely to Win Afghan Oil Extraction Bid

Chinese Company  Likely to Win Afghan Oil Extraction Bid

KABUL - The Afghan Ministry of Mines on Wednesday said that a Chinese company is likely to win an oil extraction bid in northern Afghanistan.
The Chinese company, CNPC International, has offered 15 per cent of oil to the Afghan government - the highest offer to the government -- encouraging the ministry of mines to award the contract to the Chinese firm.

If the government agrees with the company on specifications and details of extraction, the company will win the contract, said a spokesman for the Ministry of Mines, Jawad Omar.

The ministry will start negotiations with the company within a month, he added.

The Amo river oil deposits exceeds 80 million barrels, according experts.

A dozen companies had participated in the tender process and four companies provided their proposals on time, among them CNPC International. (Tolo News)