Afghanistan discovers 1.8b-barrel oilfield in north

08:32, August 16, 2010      

Email | Print | Subscribe | Comments | Forum 

Afghanistan said Sunday that it had discovered an oilfield with an estimated 1.8 billion barrels in the north of the war-ravaged country.

  The discovery of the basin between northern Balkh and Shiberghan provinces was made after a survey conducted by Afghan and international geologists, said Jawad Omar, a spokesman for the Ministry of Mines.

  "I do not know its price in the market. But the initial survey says there are 1.8 billion barrels of oil, and I think there will be more than what it is estimated," he told Reuters.

  Omar gave no more details on how the estimates were made but said the country will offer the reserves for development along with other minerals in the coming months.

  Afghanistan hopes that untapped mineral deposits valued at $3 trillion could help reduce the need to rely on Western cash for bankrolling its impoverished economy and for its soldiers to maintain security when foreign troops draw down numbers.

  But ravaged by three decades of foreign interventions and civil war, the central government now faces a Taliban insurgency and relies on foreign forces for control of many parts of the vast Central Asian country.

  The US Department of Defense estimated earlier this year that Afghanistan's mineral resources could top $1 trillion, but experts say the fragile security situation could delay seeing the benefits of this wealth for years.

  The untapped mineral resources include iron ore, copper, lithium, oil gas and gems, which Afghanistan hopes to use for development, despite rising insecurity in recent years, since US-led troops started fighting the Taliban in 2001.

  China's top integrated copper producer, comprising the Jiangxi Copper Co and China Metallurgical Group Corp, in 2007 became the first major investor in Afghanistan.

Source: Global Times

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
Hot Forum Discussion