Havana Cuba Business Travel Culture and Politics

Havana Cuba News

Cuba Business News

Posted March 18, 2003 by publisher in Business In Cuba

Email this article | Print this article | Search Havana Journal        

By Adriana Brasileiro
Dow Jones Newswires

Brazil’s oil giant Petroleo Brasileiro (PBR), or Petrobras, is interested in resuming oil exploration and production activities in Cuba, a spokeswoman for the Cuban embassy in Brazil said Thursday.

The Cuban government is inviting oil companies to drill for oil in its offshore fields in the gulf of Mexico.

According to spokeswoman Marcia Munoz, Petrobras has been in talks with the Cuban government and has shown interest in working new E&P blocks in that country.

“Cuba is looking to partnerships with foreign companies to develop its oil reserves, and Petrobras would be a fantastic partner,” the spokeswoman said.

Petrobras didn’t reply to calls asking for comments.

About two years ago, Petrobras sunk about $16 million into a highly publicized but unsuccessful search for oil on Cuba’s northeast coast.

In 2000, the Cuban government parceled Cuba’s 112,000 square kilometers exclusive economic area in the Gulf of Mexico into 59 E&P blocks to attract foreign investment.

Spain’s Repsol-YPF (REP), optioned the first six offshore blocks between Havana and the resort city of Varadero, about 100 kilometers to the east of the Cuban capital. Last year, Sherritt International Corp. (T.S), the Canadian group, won rights to explore four adjacent blocks.

By Adriana Brasileiro, Dow Jones Newswires; (5521) 3288-5004; .(JavaScript must be enabled to view this email address)

Would you like to add more information?

Only members can add more information. Please register or log in

  • Advertise at Havana Journal Inc
We recommend this AirBnB Food and Drink Experience... Cuban flavors: Food, Rum and Cigars
Images of Cuba
1953 Peripecias de un Empleado Publico - Cuban Humor 5
Follow Havana Journal
SUBSCRIBE to our Cuba Watch newsletter
LIKE us on Facebook

FOLLOW us on Twitter

CONNECT with us on Linked In

Section Archive
Havana Journal, Inc. BBB Business Review

Member of the Association for the Study of the Cuban Economy