Havana, Cuba.- Cuba is working to achieve sustained growth in national oil production and accelerate the exploration and development of reserves in the Exclusive Economic Zone of the Gulf of Mexico (EEZ), an authorized source reported.
According to statements by Deputy Director of the Cuba-Petroleum Union (CUPET), Roberto Suarez, cited by Granma newspaper, despite the enormous pressures on the sector due to the tightening of the US blockade against the island, the country works to increase the volume of oil resources at sea and in shallow waters.
The official’s statements came during the opening of the Third Energy, Oil and Gas Conference of Cuba, which opened at the Hotel Melia Cohiba yesterday.
Despite the limitations generated by the US economic, commercial and financial blockade, many companies and entities in the oil and energy sectors continue to be interested in Cuba, Suarez noted.
British Ambassador to Cuba, Antony Stokes, present at the inauguration of the event, considered that Cuba offers great opportunities and acknowledged the country’s willingness to develop in this sector, which is reflected in its new regulatory framework.
According to information previously disclosed by the organizing committee of the event, it will showcase the opportunities and priorities existing in the nation in this sector.
The event includes presentations by 50 leaders and experts in the field, in front of an auditorium of 350 delegates from public and private organizations.
There are several mapped prospects in the EEZ, where 24 blocks are currently being tendered by the island, estimated to contain more than 10 billion barrels of good quality extractable oil, according to the information available in the Cuban foreign investment portfolio.