The Ministry of Mines and Petroleum has declared the termination of the 25-year exploration and extraction contract for the Amu River oil basin with the "Afg-chin" company due to the company's recurrent breaches.

Humayun Afghan, the spokesperson for the Ministry said that, following a collaborative inquiry by committees established by pertinent authorities, the "Afg-chin" company has not upheld its obligations.

The decision to annul the agreement was made based on the advice of the Economic Deputy Prime Minister and the directive of the Prime Minister.

It is important to highlight that as per the terms of the contract signed for the Amu River oil basin, the company was obliged to invest $150 million in the initial year and $540 million over the subsequent three years, constituting the exploration phase.