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Cuba: Earth Science conference to look at oil prospects in Cuban waters

, 2011

The prospects for oil exploration and production in Cuba will be at the center of discussions this week during the 4th International Earth Science Convention and Fair in Havana.

The event, which begins on Monday, is expected to draw experts from 15 countries in the Americas, Europe and Africa.

One workshop will examine the geology and petroleum potential of the southeastern Gulf of Mexico.

Cuba plans to discuss the oil potential of its Exclusive Economic Zone in that part of the Gulf of Mexico, Cuban Geology Society president and lead event organizer Manuel Iturralde said.

The Exclusive Economic Zone, which has been open to foreign investment since 1999, covers some 112,000 sq. kilometers (43,240 sq. miles) and is divided into 59 blocks of 2,000 sq. kilometers (772 sq. miles) each.

Several foreign oil companies, including Spain's Repsol YPF, Venezuelan state-owned oil giant PDVSA and PetroVietnam, operate in the blocks.

The Exclusive Economic Zone, according to official estimates, may hold up to 20 billion barrels of petroleum.

Cuban specialists will discuss the current situation in the island's energy industry and prospects for exploration and deepwater production, as well as oil and gas production from different fields.

Transportation and refining will also be addressed, conference organizers said.

Some 700 geologists, geophysicists and other experts from Venezuela, Mexico, Brazil, Argentina, Chile, Spain, France, Switzerland, Italy, Russia, the United States, Canada, Australia, Angola and Namibia are expected to attend the event, which ends on Friday, the Cuban Geology Society said. EFE

Story from EFE.

EFE / Apr, 03, 2011 12:25 PM


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