ONGC inks oil exploration deal with Cuba
Country’s state-run oil company has signed a deal with Cuba for deep-water oil exploration in the Gulf of Mexico, company officials announced.
By Agencies |
HAVANA: Country’s state-run oil company has signed a deal with Cuba for deep-water oil exploration in the Gulf of Mexico, company officials announced.
Under the deal signed on Sunday Oil and National Gas Corporation (ONGC) will explore blocs N-34 and N-35, which cover an area of 4,300 square kilometers (1,544 square miles) in Cuban waters.
ONGC already has a 30 per cent interest in six other blocs in which Norway's Nosrk Hydro also has 30 percent interest and Spain's Repsol YPS 40 per cent.
Officials of the state-run Cuba Petroleos (CUPET) say a total of six companies have signed exploration deals for 16 blocs in the Gulf of Mexico.
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