Afghanistan Turns To Russia For Investment Into Its Hydrocarbon Industry

The Afghani Minister of Mines and Petroleum, Mullah Hidayatullah Badri, has stated that Afghanistan is home to sizeable hydrocarbon reserves and has invited Russian companies to invest in its oil and gas sector. He was speaking at the Tatarstan Petrochemical Forum which has been taking place in Kazan.

Badri said, “Afghanistan opens its doors to you. We invite you, especially those from Tatarstan, to invest in our energy sector, oil and gas in particular. The government of Afghanistan guarantees security, transparency, and long-term opportunities for your capital. We want to use the wealth of technological experience that Tatarstan has and create joint projects that will benefit not only our countries but also the whole region.”

Studies conducted by the US Geological Survey show that Afghanistan has about 444 billion cubic meters of undiscovered, recoverable natural gas reserves and 75 billion cubic meters of identified reserves. Afghanistan’s Angus oil field, which was discovered in 1959, stands out as the sole oil field in the country. The reserves are estimated to be approximately 6 million barrels.

Badri added that Afghanistan’s Amu Darya, Katavaz, and Helmand basins contained most of the country’s significant natural resources, including hydrocarbon feedstock, saying that “These resources are sufficient not only to satisfy Afghanistan’s needs but also to become a source for exports to neighboring countries, ensuring energy security and regional development. We are not striving to become part of any political blocs, and we want to develop mutual ties with regions step by step and expand mutual interests in an economic sense. Afghanistan is striving to become a transit hub uniting Central and South Asia, as well as the Middle and Far East”.

An Afghanistan delegation will be attending the Shanghai Cooperation Organisation’s annual summit in China, which begins on Sunday (August 31).