|
|
Four agreements have been signed between Russia and Cuba, which will enable Russia to explore and produce oil in Cuba.
Russian state energy firm Zarubezhneft has been permitted for exploring in blocks located in the Cuban provinces of Matanzas, Sancti Spiritus, Villa Clara and Ciego de Avila for a span of 25 years.
Cuban Basic Industry Minister Yadira Garcia and Russian Deputy Trade and Industry Minister Ivan Materov attended the signing ceremony, which took place at Russia's pavilion at the International Trade Fair in Havana.
This is the first such deal signed between the nations after the Soviet Union dismantled, which subsidised the Cuban economy for decades.
Spain's Repsol-YPF, Norway's Norsk Hydro, India's Oil and Natural Gas Corporation, Malaysia's Petronas, Venezuela's PDVSA, Vietnam's PetroVietnam and Brazil's Petrobras all have signed oil-exploration deals with Cuba's communist government.
