The Cuban government is seeking to sign a contract with three oil companies in Norway, Spain and India to drill for oil in the Gulf of Mexico. The deal will be between Norway’s Norsk Hydro, Spain’s Respol YPF and India’s ONGC Videsh, Ltd., NRK Web site reported. Drilling is unlikely to begin before 2008 because high oil prices have lead to more intense exploration and a worldwide shortage of deep-water drilling rigs. Spain’s Respol YPF discovered high-quality oil in Cuban waters in 2004; the company will conduct seismic work over the next month.
Green Marine
about 20 years ago
Cuba to allow foreign offshore drilling
The Cuban government is seeking to sign a contract with three oil companies in Norway, Spain and India to drill for oil in the Gulf of Mexico. The deal will be between Norway’s Norsk Hydro, Spain’s Respol YPF and India’s ONGC Videsh, Ltd., NRK Web site reported. Drilling is unlikely to begin before
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