Russians eye Cuba offshore oil deal

HAVANA (Reuters) – A Russian consortium is looking at leasing up to 15 blocks covering a total of 15,440 square miles (40,000 square kilometers) for oil exploration in Cuba’s part of the Gulf of Mexico, a Cuban oil official said on Tuesday.

Companies from China and Angola are also negotiating deals for oil blocks in Cuban waters, which abut those of Mexico and the United States, said Manuel Marrero Faz of Cuba’s Ministry of Basic Industry.


He said the Russians are studying the region off the communist island’s northwest coast for oil potential before deciding which of the blocks they would like to lease.

“Soon we’ll meet to negotiate the contract terms,” he told reporters at an international geology conference in the Cuban capital.

He did not name the companies but said the Russian government had put together a consortium of the country’s five biggest energy firms.

Reuters