Russia may produce oil in Cuba

Russian state oil company Rosneft considers oil prospecting and production in Cuba. The key issues relating to the implementation of the project will be discussed by the Russian President and President of Cuba Raul Castro at the UN General Assembly.

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Russia has already started delivering Cuba electric power equipment. Another Russian state-controlled oil company Zarubezhneft considers the increase of enhanced oil recovery at the Boca de Jaruco oil field. A joint project on the modernization of a thermal power station in the towns of Mariel and Santa Cruz del Norte is also being discussed.

Russia intents to get involved in the oil exploration between Cuba and Florida. Last year the Russian companies Rosneft and Zarubezhneft signed an agreement with Cuba on the oil prospecting off the Cuban coast. According to the agreement, Rosneft is to set bases for staff in the Cuban port of Mariel, and equipment for offshore drilling rigs, as well as a system of pipe lines and a helicopter pad.

Also read: Russia to supply Cuban oil to USA?

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