Spanish and Cuban Oil Companies to Begin Drilling
HAVANA TIMES, March 13 – Spain’s Repsol-YPF Oil Company and Cuba’s state-run Cupet will begin the drilling of a well this year in the deep waters of the island’s Exclusive Economic Zone in the Gulf of Mexico, reported IPS. United States oil companies are barred from such joint ventures due to Washington’s economic blockade imposed on the island for nearly 50 years.
Cuba currently imports around half of its oil from Venezuela, and provides the South American country with over 20,000 doctors and educators to help staff its expanded social programs. The Cuban government strives for energy self-sufficiency in the not to far off future.