HAVANA, Cuba (Reuters): Brazilian state oil company Petrobras is studying a block in deep Cuban waters for possible exploration as part of broader cooperation with the Caribbean island, a top advisor to the company said on Friday.
"We are planning to cooperate not only in exploration and production, but lubricants, refining and training," Andre Ghirardi told Reuters in Havana at a one-day meeting of Brazilian and Cuban businessmen.
"We are working on the possibility of exploring a block in the Gulf of Mexico, but negotiations have not ended, they are advancing," he said.
Interest in Cuba's Gulf of Mexico blocks has picked up as oil prices soar.
Seven foreign companies have signed exploration agreements with Cuban state oil company CUPET for 28 of the 59 blocks available in the deep Gulf of Mexico waters of Cuba's economic exclusion zone fronting the United States.
And just imagine how much longer it will take to rid Cuba of communists if they do actually find that much oil....