05-12-07

Cuban Deputy Foreign Minister Eumelio Caballero invited Russian companies to take part in prospecting for crude oil deposits in the Gulf of Mexico. Caballero told that Cuba already had signed contracts with companies from Spain, Norway, Venezuela and China who will participate in the exploration and exploitation of petroleum deposits in the Cuban economic zone in the Gulf.
"We are in contact with the Russian companies and we hope that they participate in the prospecting for those deposits, in particular creating the necessary infrastructure," said the diplomat, who was on a two-week visit to Russia.

He added that "Cuba is open to cooperation," and he said that the "favourable" political conditions on the island augur for "magnificent prospects" for the Russian firms that participate in the project.
"Russia and Cuba have considerable prospects for increasing their bilateral economic and trade links," said the vice minister, adding that one of the most attractive and advantageous areas is energy cooperation.

Trade between Cuba and Russia amounted to about $ 300 mm in 2006 and reached $ 250 mm in the first nine months of this year, according to official data from the island.

Source: www.rigzone.com / Efe