cikosenzki
29-12-2011, 04:39 PM
China has gained potential access to millions of barrels
of oil after it won approval for oil exploration and
extraction in Afghanistan. The country's cabinet approved a deal to allow China
National Petroleum Corporation (CNPC) to develop oil
blocks in the Amu Darya Basin. The basin is estimated to hold around 87 million
barrels of oil. The deal comes as China is looking to expand its oil
resources in wake of a growing domestic demand. "The Afghan cabinet has ordered mines minister
Wahidullah Shahrani to sign an oil exploration contract
for Amu Darya with China National Petroleum
Corporation," Afghanistan president's office said in a
statement. 'Taking a punt' The state-owned CNPC will carry out the oil
exploration and extraction with a local partner, the
Watan Group. While there has been a lot of talk about the potential
of natural resources in Afghanistan, analysts said that
it was too early to predict the profitability of the
venture. "To a certain extent they are taking a punt," Tony
Regan of Tri-Zen, a Singapore-based consultancy, told
the BBC. Mr Regan explained that CNPC will have to spend a
considerable amount of money to explore the basin
before it can actually find out about the amount of oil
that may exist there. "It is about five to ten years before they can get a feel
of what is under the ground and start commercially
producing it," he added Growing investments The approval is a major win for China as it has been
looking to invest in resource-rich Afghanistan. However, analysts said that resources is not the only
sector that China is looking to invest in. "The deal is a way of getting a foot inside the door,"
said Charles Chaw of China Knowledge Consulting. The ongoing war in Afghanistan has seen its
infrastructure and economy being damaged. Analysts said that as peace returns to the country, it
will require a lot of rebuilding activity in order to
trigger economic growth in coming years, something
that China is keen to tap into. "China is looking towards a much bigger scale of
investment," said Mr Chaw. "This could involve projects in infrastructure, including
high-speed rail in times to come," he added. sumber: http://www.bbc.co.uk/n...16336453
of oil after it won approval for oil exploration and
extraction in Afghanistan. The country's cabinet approved a deal to allow China
National Petroleum Corporation (CNPC) to develop oil
blocks in the Amu Darya Basin. The basin is estimated to hold around 87 million
barrels of oil. The deal comes as China is looking to expand its oil
resources in wake of a growing domestic demand. "The Afghan cabinet has ordered mines minister
Wahidullah Shahrani to sign an oil exploration contract
for Amu Darya with China National Petroleum
Corporation," Afghanistan president's office said in a
statement. 'Taking a punt' The state-owned CNPC will carry out the oil
exploration and extraction with a local partner, the
Watan Group. While there has been a lot of talk about the potential
of natural resources in Afghanistan, analysts said that
it was too early to predict the profitability of the
venture. "To a certain extent they are taking a punt," Tony
Regan of Tri-Zen, a Singapore-based consultancy, told
the BBC. Mr Regan explained that CNPC will have to spend a
considerable amount of money to explore the basin
before it can actually find out about the amount of oil
that may exist there. "It is about five to ten years before they can get a feel
of what is under the ground and start commercially
producing it," he added Growing investments The approval is a major win for China as it has been
looking to invest in resource-rich Afghanistan. However, analysts said that resources is not the only
sector that China is looking to invest in. "The deal is a way of getting a foot inside the door,"
said Charles Chaw of China Knowledge Consulting. The ongoing war in Afghanistan has seen its
infrastructure and economy being damaged. Analysts said that as peace returns to the country, it
will require a lot of rebuilding activity in order to
trigger economic growth in coming years, something
that China is keen to tap into. "China is looking towards a much bigger scale of
investment," said Mr Chaw. "This could involve projects in infrastructure, including
high-speed rail in times to come," he added. sumber: http://www.bbc.co.uk/n...16336453