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ISSUES....
Inside, confidential and off the record
Lula for the gold
Last Wednesday, Lula da Silva, Brazil's president when in a trip to visit Fidel in Cuba, by his side was Sergio Gabrielli, Petrobras' CEO. Petrobras is trying to drill a well in its leased Cuban offshore block. The Brazilian company could very well try to drill a test well this year, Lula announced last week on his weekly radio program. Reuters reported that Petrobras has been conducting seismic tests in the offshore block, since it was awarded the block last October. Cuba has said its offshore territory may contain 20 billion barrels of oil, but nothing has been produced from its waters so farm. It has divided its offshore zone into 59 blocks, 21 of which have been leased to a total of seven companies, reports Upstream. So far, only one test well has been drilled in Cuba's offshore fields - by Spain's Repsol-YPF in 2004, according to Upstream.
ISSUES.... 02/25/2010 / - Send Us Your Issues
ISSUES.... Inside, confidential and off the record
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