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Xinjiang Central Asia Petroleum and Gas Company

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The Xinjiang Central Asia Petroleum and Gas Company (aka CAPEIC) extracts liquid resources from the Earth's crust. It is based in the People's Republic of China. In January 2023, it signed a $540 million three-year investment deal with the Taliban government of Afghanistan for extraction at Amu Darya basin,[1][2][3][4][5][6][7][8] which forms a natural frontier between Afghanistan, Turkmenistan, Tajikistan, and Uzbekistan.[9]

History

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The January 2023 Amu Darya deal was the first major public commodities' extraction signed by the Taliban government with an international organization since taking power in 2021. The project will provide employment for more than 3,000 Afghanis. Deputy Prime Minister for Economic Affairs Abdul Ghani Baradar said at the time, "In addition to other minerals, oil is the wealth of the Afghan people on which the economy of the country can rely." The ceremony was attended by the Chinese ambassador, Wang Yu, and the acting minister of mines and petroleum Shahabuddin Delawar.[6][5] The contract is valid for 25 years. The Taliban will earn a 15% royalty and CAPEIC will build the country's first crude oil refinery.[10]

The Chinese company PetroChina sees Amu Darya as the third-largest potential gas field in the world.[9]

References

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  1. ^ Hoyt, Conrad (6 January 2023). "Chinese company signs oil extraction deal with Taliban". Washington Examiner.
  2. ^ "Times of India". Bennett, Coleman & Co. Bloomberg. 6 January 2023.
  3. ^ "Afghanistan's Taliban administration signs oil production deal with China". Verdict Media Limited. Offshore Technology. 6 January 2023.
  4. ^ Gul, Ayaz (5 January 2023). "Taliban Seal Afghan Oil Deal With China". Voice of America.
  5. ^ a b Madhok, Diksha; Popalzai, Ehsan; Popalzai, Masoud (6 January 2023). "A Chinese company has signed an oil extraction deal with Afghanistan's Taliban". Cable News Network. Warner Bros. Discovery.
  6. ^ a b Yawar, Mohammad Yunus (5 January 2023). "Afghanistan's Taliban administration in oil extraction deal with Chinese company". Reuters.
  7. ^ "Afghanistan signs oil extraction deal with Chinese company". Al Jazeera Media Network. 6 January 2023.
  8. ^ Hoskins, Peter (6 January 2023). "Taliban and China firm agree Afghanistan oil extraction deal". BBC.
  9. ^ a b SEIBT, Sébastian (10 January 2023). "Pourquoi la Chine se laisse tenter par le pétrole des Taliban" (in French). France24.
  10. ^ "China Signs 25-Year Contract With Taliban to Produce Oil in Afghanistan". World - Energy Media. Bloomberg. 9 January 2023.
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