Cuba planning deepwater oil drilling in the Gulf of Mexico

Cuba planning deepwater oil drilling in the Gulf of Mexico

Cuba’s state oil company has announced plans to drill deepwater wells in its Gulf of Mexico waters in co-operation with companies from politically sympathetic Venezuela and Angola, according to Reuters.

Cuba-Petroleo (Cupet) hopes to begin drilling in late 2016 or early 2017 in an area to the island’s northwest which some believe could contain billions of barrels of oil.

PDVSA and Angola’s Sonangol have been named as potential partners in the project, says Reuters.

Last month saw significant moves in the thawing of relations and loosening of trade embargo restrictions between the US and the Communist-ruled island. If that trend continues it is possible more rigs could be available to Cuba’s oil efforts.

Under terms of the US embargo Cuba can use only equipment with no more than 25% US-made components.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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