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Weekly report on Cuba's tourism industry
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Cuba Promotes Investments in Oil Prospecting
Monday, June 17, 2019



Havana.- Cuba presented the investment opportunities for oil exploration and exploitation in 24 blocks in the Exclusive Economic Zone (ZEE) in the Gulf of Mexico.

Executives from the sector showed the potential of the activity to two dozen representatives of companies who attended the corresponding tender in London.

In that regard, they pointed out that the area where the blocks are located has an oil and gas production potential equivalent to more than six billion barrels.

This estimate is based on seismic studies carried out in 2017 by the BGP geophysical services company, which are available to interested companies.

The experts recalled that currently, Cuba's oil sector reports the existence of 12 production sharing contracts and four joint ventures.



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