CNPC finalises Afghan oil deal

Oct 23, 2011 12:00 AM

Chinese state-backed oil firm CNPC has finalised an oil exploration and development deal with the Afghan government, the first in the country's modern history.
CNPC beat UK firm Tethys Petroleum for the development of oil resources at Amu Darya in the northern Sar-e Pul province on terms which the Afghan Ministry of Mines has promised to disclose in full in around a months' time.

Amu Darya contains five known fields which together are estimated to hold 80 mm recoverable barrels of oil, or 11,000 bpd over 20 years, enough make Afghanistan a most oil exporter.
Jalil Jumriany, policy director at the mines ministry, estimates CNPC will invest $ 200-$ 300 mm in the projects in the first few two years.

The US Pentagon's Task Force for Business and Stability Operations for Afghanistan assigned to monitor the bidding process released a statement on the bidding:
"The Hydrocarbons Law of the Islamic Republic of Afghanistan requires that oil and gas production sharing contracts be awarded by a competitive, transparent tender process. The Task Force on Business and Stability Operations assisted the government of Afghanistan in designing such a tender process for the Amu Darya Oil Tender."

"The four bids received were opened in a public proceeding. CNPC International was the highest bidder, at 15 % royalty, and the only bidder whose bid conformed to the tender rules. The evaluation of the bids was performed by the Afghanistan Government, observed by transparency consultants, and took into account noneconomic factors in addition to the economics submitted by the bidders. "
"Upon approval of the contract by the Council of Ministers, a summary of the tender and the evaluation process will be published according to Afghan law and the report of the transparency consultants will also be made public."

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