Afghanistan has signed a deal on development of oil fields in the Amudarya River basin with the Chinese National Petroleum Corporation. Oil fields will be developed in the Afghan Provinces of Sar-e Pol and Faryab, ITAR-TASS reports.
Chinese specialists will arrive within 30 days after the signing. Work will start in October 2012. The deal will last 25 years, Afghan Minister for Mining Vahidulla Shahrani said in Kabul.
The deal is worth an initial sum of $400 million. With an oil price of about $100 per barrel in the next 20-23 years and oil reserves of 87 million barrels, income from the fields should reach at least $7 billion.
