Huge oil deposit discovered; Gas pipeline to bring in billions in revenue

The Afghan government has officially announced that it has discovered a field with an estimated 1.8 billion barrels of oil in northern Afghanistan, Afghan and Western media is reporting today. The discovery is specifically between the provinces of Balkh and Jowzjan. The survey was conducted by Afghan and international geologists.

Also yesterday, Afghanistan’s Tolo news reported that Afghanistan’s Ministry of Mines and Industries have said that an agreement to extend a gas pipeline from Central Asia to South Asia through Afghanistan will soon be signed. According to the report, once the 1680km pipeline has been built and the project formally completed, it will bring in $3 billion in tax revenue annually, as well as create job opportunities for thousands of Afghans. It will be a great boost for the Afghan economy.

Afghanistan is rich in natural resources, and if tapped, managed, and secured properly, it can turn the Afghan economy around and improve the lives of the Afghan people tremendously.

August 15, 2010   Posted in: Afghanistan's Economy, Job Creation