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China joins hands with Taliban to help Afghanistan, both will produce oil together

China-Taliban Oil Deal: Afghanistan is facing economic crisis these days. There is news of relief for Taliban-led Afghanistan. Under the rule of Taliban, Afghanistan has signed its first international agreement with a Chinese company. In this regard, the Taliban regime has signed its first international agreement to extract oil from the Northern Amu Darya Basin.

Save the country from economic crisis

It is being told that Taliban has entered into an agreement with a Chinese company to save Afghanistan from economic crisis. This will boost the revenue in the country. However, this regime has not yet been recognized by China.

here you are

The event was attended by Chinese Ambassador to Kabul, Afghanistan, Wang Yu, and Mulla, on an agreement with a subsidiary of China National Petroleum Corporation. Abdul Ghani Baradar Acting Deputy Prime Minister of Afghanistan is in attendance. Both signed during an event.

what did the taliban say

Mullah Abdul Ghani Baradar, deputy prime minister for economic affairs of the Taliban, said on the first international agreement, “This agreement will strengthen Afghanistan’s economy and advance the level of oil independence.” Wang, whose country China has not yet recognized the Taliban government. He said that this 25-year contract will help Afghanistan in its endeavor to achieve self-reliance.

Chinese company signed agreement for 25 years

Acting Minister of Mines and Petroleum Shahabuddin Delawar says Xinjiang Central Asia Petroleum and Gas Co will spend $150 million (about 12,394,403,700 Indian rupees) in the first year to explore five oil and gas blocks. And will invest up to 540 million dollars (about 44,67,04,47,000.00 Indian rupees) in the next 3 years. These blocks are located in an area of ​​4,500 square kilometers (1,737.5 sq mi) in northern Afghanistan.

Will get 15 percent royalty

Taliban regime will get 15 percent royalty fee from this 25-year contract. This will produce 200 tonnes of oil daily and will be gradually increased to 1,000 tonnes. According to a survey, 87 million barrels of crude oil has been estimated in five blocks.

The deal was canceled by the previous government

Minister Shahabuddin Delawar said the company, known as CAPEIC, would also build Afghanistan’s first crude oil refinery. He also said that if it fails to fulfill all the contractual obligations within one year, then this agreement will be terminated. CNPC, the parent company of CAPEIC, was awarded the same projects by the previous US-backed government in 2011, but the contract was terminated several years later by former President Ashraf Ghani due to delays in work.

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