Rafael Tenreyro Pérez, head of Cuba Petróleo’s (Cupet) Exploration Group emphasized that Cuba is promoting its sea and land oil prospects and potential opportunities for foreign investment in the sector, at the 21st World Petroleum Conference, scheduled June 14-19 in Moscow.Going on in detail;
Tenreyro emphasized the challenge Cuba faces in drilling wells in deep water. He also stated that Cuba has historically been considered a non-oil producing nation, despite which, in the last few years it has modestly begun to increase extraction and has confidence in its future as an oil producer.
He commented that Cuba’s participation in the 21st World Petroleum Congress will encourage international investment given the discovery of proven oil deposits in the sea, highlighting that Cuba plans to open the central and eastern part of country’s northern territorial waters, toward the border with Haiti, to foreign investment and that emphasis will be placed on opportunities the sectors offers.
Tenreyro also emphasized that Cuba will present proposals for similar projects in shallow waters, such as those which will begin shortly off the central and eastern sections of the northern coast, after an agreement was signed with the Bahamas.Cuba wants to exploit capitalists! To keep their DeSotos, Studebakers and Packards running?