AFGHANISTAN said it had made a new 1.8 billion barrel oil discovery in the country's northern provinces near the Uzbekistan border.
The discovery of the basin between northern Balkh and Shiberghan provinces was made after a survey conducted by Afghan and international geologists, said Jawad Omar, a spokesman for the ministry of mines.
“The initial survey says there are 1.8 billion barrels of oil and I think there will be more than what it is estimated," he said, adding that the ministry will carry out further studies on the find before inviting companies to develop the field.
Omar did not give further details on how the estimates were made but said the country would offer the reserves for development along with other minerals in the coming months.
He also said an earlier plan for the tender of a 1.6bn barrel Afghan-Tajik oil block in early 2011 was still on track.
In April 2009, the mining ministry of Afghanistan launched its first interntaionl oil and gas bidding round for three blocks. But after pre-qualifying eight companies for the tender, it received only one bid, which was rejected.
The ministry plans to repackage and re-tender Jangalikalan, Juma-Bashikurd and Kashkari blocks in the Amu Darya basin at a later date.
Afghanistan hopes that untapped mineral deposits valued at US$3 trillion could help reduce the need to rely on Western cash for bankrolling its impoverished economy and for its soldiers to maintain security when foreign troops draw down numbers.
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