Russia Zarubezhneft to Explore for Oil in Cuba
04 November 2009
Russian state oil company Zarubezhneft has signed contracts with Cuba to
search for oil along the island's northern coast.
Zarubezhneft signed a deal with state-owned Cuba Petroleos for four
almost contiguous blocks – two onshore and two offshore – in the Gulf of
Cuba has signed offshore exploration deals with eight other companies,
and says the waters may hold 20 billion barrels of untapped oil with
only one test well drilled, reported Reuters.
Big oil finds in the gulf could turn Cuba, which is deep in financial
crisis, into an oil exporter.
Offshore Technology – Russia Zarubezhneft to Explore for Oil in Cuba (4