Cuba, Russia to boost energy cooperation

Cuba, Russia to boost energy cooperation
English.news.cn 2013-11-26 10:44:40

HAVANA, Nov. 25 (Xinhua) -- Cuban leader Raul Castro expressed his
interest in boosting bilateral cooperation in oil and energy with Russia
when meeting Russian oil firm Rosneft President Igor Sechin over the
weekend, state media reported Monday.

Castro and Sechin discussed their shared interest in increasing
collaboration in the energy sector when they held a "cordial" meeting
Saturday, the official daily Granma said.

Cuba estimates that it has a potential reserve of 20 billion barrels of
oil to be extracted from its territorial Gulf of Mexico waters, though
the U.S. Geological Service estimates a more modest 5 billion to 9
billion barrels.

During the first five months of 2013, Russian state-run company
Zarubezhneft unsuccessfully searched for oil at the "L" block in Cuba's
Exclusive Economic Zone in the gulf, located north of the central
province of Ciego de Avil, with the help of the Soviet-made and
Norwegian-owned platform Songa Mercur.

Cuba's state-run Cubapetroleos and its Russian counterpart have planned
to drill again in the same area starting in January 2014.

Cuba is eager to discover accessible oil reserves in the gulf to end its
dependence on imports.

The island country currently imports 50 percent of its energy needs.

Source: "Cuba, Russia to boost energy cooperation - Xinhua |
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