Russian oil firm Rosneft will help Cuban State oil firm Cupet explore the nation’s offshore oil reserves, in accordance to one of many cooperation paperwork signed between Russia and Cuba throughout President Vladimir Putin’s go to to Havana.
Putin concluded his first cease on his six-day tour to Latin America in Havana, Cuba, the place he met the nation’s President Raul Castro. Speaking at a press convention, Putin confirmed that many main cooperation offers have been signed between the 2 nations.
One of probably the most vital agreements permits the Russian oil firm Rosneft to help explore and drill on an offshore oil platform on Cuba’s northeast coast. The space doubtlessly has up to 20 billion barrels of oil, in accordance to Cupet.
“Developing new blocks on Cuba’s offshore shelf is (expected) in the very near future,” Putin stated. During the discussions, Putin was joined by Rosneft head Igor Sechin so as to finalize the deal.
Cuba has restricted onshore manufacturing and depends closely on imports from Venezuela for its oil consumption wants.
Putin additionally confirmed that Russia is writing off 90 % of Cuba’s debt, which quantities to $32 billion. The remaining 10 % will likely be reinvested into the Cuban economic system, the president added.
“We will provide support to our Cuban friends to overcome the illegal blockade of Cuba,” Putin stated. Meanwhile, Russian firm Inter RAO Export and Cuba’s Union Electrica signed a contract for the development of 4 200 megawatt items for the Maximo Gomez energy plant.
Other paperwork signed on Friday embrace a bilateral assertion on the non-placement of weapons in outer area and an intergovernmental settlement on cooperation within the space of worldwide data safety.
During the go to to Cuba, Putin additionally met with former President Fidel Castro, who stepped down due to well being considerations in 2008, after 49 years in energy.
Putin and Fidel Castro mentioned worldwide affairs, the worldwide economic system, and Russia-Cuba relations, the Kremlin said. Later on Friday, Putin made a shock cease in Nicaragua on his method to Argentina. He will then go to Brazil.