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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