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The Silicon Review Asia

The Taliban and a Chinese company have reached an agreement to extract oil in Afghanistan

The Taliban and a Chinese company have reached an agreement to extract oil in Afghanistan

The Taliban government of Afghanistan will sign a contract with a Chinese company to drill for oil in the country’s northern region

It would be the first big deal with a foreign company about getting energy since 2021, when Taliban took over Afghanistan. Th2 25-year agreement highlights China’s economic engagement in the region. On Thursday, Taliban officials said that security forces had gone after Islamic State militants who had attacked a hotel where Chinese business people often stayed. At least three people dies and 18 were hurt in the attack on the Longan Hotel in Kabul in December and five people among those who were hurt were Chinese.

In accordance with the oil extraction agreement, the Xinjiang Central Asia Petroleum and Gas Company (CAPEIC) would drill for oil in the Amu Darya basin, according to the Taliban spokesperson Zabihullah Mujahid.

The natural resources of Afghanistan, such as natural gas, copper and rare earths are extimated to be worth more than $1 trillion. Beijing has significant interests in Afghanistan, which is in the center of region vital to China’s Belt and Road Initiative (BRI), despite of not having formally recognized that Taliban administration in Kabul.


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