Project Profile
Location: Gulf of Mexico, Cuba, 100 to 200 miles west of Havana.
Start-up Year: 2037
The Product Sharing Agreement (PSA) in relation to Blocks 44, 45, 50 and 51 in the Gulf of Mexico was signed between Petronas and the Cuban government in 2007. Until 2011, Petronas has remained the only project participant. The Agreement enables geological exploration at the four blocks with the possibility of further oil production until 2037, and gas production until 2042.
Within the contract area, 2D seismic has already been performed, and the first exploration well drilling is scheduled for 2011. The partners will take a decision on further actions relating to the project once the drilling results are known.
Operators:
Petronas: Operator with 70% interest
Gazprom Neft: 30% interest