Dragon Oil to develop two oil blocks in Afghanistan

oil afghan-mono bustos sxc.huAfghanistan reportedly has 87mn barrels of proven oil reserves as of January 2012. (Image source: Mono Bustos/sxc.hu)UAE-based Dragon Oil has signed a production sharing contract (PSC) with the Afghan government to develop two oilblocks in the country

The energy company will serve as the operator of the Sanduqli block. Its partner Turkish Petroleum Corporation will operate the Mazar-i-Sharif block, company sources added. 

Both areas are located near the northern Afghan border with Uzbekistan and Turkmenistan.

Abdul Jaleel al-Khalifa, chief executive officer of Dragon Oil, said, “We are excited about this opportunity to work in Afghanistan and the prospects of these two blocks.”

Dragon Oil did not, however, reveal the timeframe for development.

Afghanistan reportedly has 87mn barrels of proven oil reserves as of January 2012.

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