Afghanistan’s Taliban government signed last week its first international deal with Xinjiang Central Asia Petroleum and Gas Co to extract oil from northern Afghanistan’s Amu Darya basin.
The contract was signed in Kabul in the presence of Taliban’s Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar and the Chinese ambassador to Afghanistan, Wang Yu, according to a statement from the Taliban government.
Baradar referred to the deal as being in Afghanistan’s best interests, CNN reported, adding that it would strengthen the country’s economy.
“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,” Baradar said.
According to the contract, the Chinese firm will invest up to $150 million a year, which will increase to $540 million in three years. “The project directly provides job opportunities for 3,000 Afghans,” the statement said.
The company’s parent, CNPC, was awarded the same projects in 2011 by the previous US-backed government, but the deal was scrapped years later by former president Ashraf Ghani due to delays and lack of progress in work, according to Reuters.
