Afghanistan announces huge oil find

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2010-08-16

In a place where U.S. and other foreign forces are trying to put down a Taliban-led insurgency, a massive oilfield has been discovered.

The field, in the north of the war-ravaged country, is part of a basin which holds an estimated 1.8 billion barrels.

The basin, discovered by international geologists, is between Balkh and Shiberghan provinces.

While there has been a major challenge in pulling resources from the ground in the wartime country, the next step will be for the reserves to be offered for development.

It is believed Afghanistan is about to put up some of its hidden wealth for bids by Western companies in the coming months.

The Afghan government has said it hopes to realise
$3 trillion eventually from its precious mineral deposits.

The untapped resources include iron ore, copper, lithium, oil, gas and gems.

Source: Middle East News.Net

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