August 15, 2010
Afghanistan Finds 1.8 Billion-Barrel Oilfield Aug. 15 (Bloomberg) -- Afghanistan discovered an oilfield containing an estimated 1.8 billion barrels of crude in the north of the country, a Mines Ministry official said.
If proven, the resource would be more than ten times the size of the country’s oil reserves, assessed at more than 150 million barrels by the U.S. Geological Survey.
The U.S., which has spent $27 billion since 2002 training Afghan forces, is promoting development of Afghan resources in an attempt to stabilize President Hamid Karzai’s government, U.S. Deputy Under-Secretary of State Paul Brinkley said earlier this year. During an Aug. 13 video teleconference, U.S. President Barack Obama and Karzai discussed the need to jointly keep the pressure on the Taliban and to build Afghan capacity.
Afghanistan plans tenders for more than five mineral and energy projects by the end of 2011, including gold, copper, iron ore, gemstones, marble, lithium, oil and gas, Mines Minister Wahidullah Shahrani said in June. The nation’s mineral wealth may total $1 trillion to $3 trillion, he said. U.S. officials estimate there are untapped minerals worth about $1 trillion in the country, the New York Times reported on June 14.
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http://www.businessweek.com/news/2010-08-15/afghanistan-finds-1-8-billion-barrel-oilfield.html