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| Afghanistan |
| China begins scramble for Afghanistan's oil reserves |
| 2011-12-27 |
| China began the scramble for Afghanistan's untapped oil reserves by announcing an exploration contract with Kabul – the first such international agreement in decades. State-owned China National Petroleum Corp (CNPC) was given approval by the Afghan government to sign the joint-venture deal with diversified Afghan company, the Watan Group. The Chinese will lead the exploration for oil in three fields in the Kashkari, Bazarkhami and Zamarudsay basins, located in the northern provinces of Sar-e Pul and Faryab, which are estimated to hold around 87 million barrels. Compared globally, the oilfields are comparatively small but are significantly profitable for Kabul. Crucially, the deal gives China a leading foothold in its quest to tender for drilling rights at the country’s larger oil and other hydrocarbon reserves located elsewhere in the country. Recent estimates by the US Geological Survey suggest northern Afghanistan, especially in the northeast Afghan-Tajikistan Basin, holds up to 1.8 billion barrels of oil. |
| Posted by:tipper |
| #2 one hopes when we leave the Chinese have sufficient troops in the nation protecting their various interests... to keep the nutters inline. |
| Posted by: Water Modem 2011-12-27 22:35 |
| #1 Our blood for oil plan seems to have taken an odd turn. |
| Posted by: Super Hose 2011-12-27 20:31 |