Russia’s Rosneft to help Cuba explore offshore oil reserves

July 14, 2014

Russian oil company Rosneft will help Cuban State oil company Cupet explore the country's offshore oil reserves, according to one of the cooperation documents signed between Russia and Cuba during President Vladimir Putin’s visit to Havana.

Putin concluded his first stop on his six-day tour to Latin America in Havana, Cuba, where he met the nation’s President Raul Castro.

Speaking at a press conference, Putin confirmed that many major cooperation deals have been signed between the two nations.

One of the most significant agreements allows the Russian oil company Rosneft to help explore and drill on an offshore oil platform on Cuba’s northeast coast. The area potentially has up to 20 billion barrels of oil, according to Cupet.

Copyright, RT, 2014.