Baku, Azerbaijan, April 28
By Emin Aliyev - Trend:
The hydrocarbon reserves in Afghanistan range from 3.5 to five billion barrels of oil, according to the various estimates, the Afghan Minister of Economy Abdul Hadi Arghandewal said during the seventh Caspian Oil and Gas Trading and Transportation Conference in Baku.
"These huge untapped reserves are located in the Amu Darya basin, and their volumes are not comparable with the volume of domestic consumption, which is about 5,000 barrels of oil per day," he said.
Geological exploration works had been carried out in the country, and were suspended due to tension in the country, the minister said.
"These works were carried out, for example, by the French Total. The exploration continues today, in Herat and other provinces of the country. Big reserves are concentrated in the west of Afghanistan and on the border with Tajikistan that will bring the country revenues and stimulate economic development," Arghandewal said.
As to prospects, the minister assured that the volume of consumption will grow - China National Petroleum Corporation launches oil refinery complex and produces Afghan oil, moreover, the country has three refineries - albeit low-powered. "I note that Afghanistan will receive 75 percent of the profits from the sale of crude oil in its territory," he said.
At present, the development of regional cooperation is one of the priorities of the state`s policy, according to the Afghan minister.
"We can play an important transit role, which will develop our national economy and open new job opportunities. Our advantageous geographical location has allowed us in the past to act as a bridge between China and other countries in Asia and Europe. After 25 years of instability it is necessary to restore these bridges, recreate bridges. One of the major projects in Afghanistan is also the construction of a railway connecting our country with Turkmenistan and Iran. Some 124 kilometers out of 800 kilometers has already been constructed and commissioning of this railway will also significantly affect the volume of foreign trade with our partners and the economic development of the country as a whole," Arghandewal said.
Translated by S.I.
Edited by C.N.