RBC, 06.12.2011, Moscow 13:45:58.Russia's oil major Gazprom Neft has
invested some $12m into exploration projects in four blocks in Cuba's
exclusive economic zone in the Gulf of Mexico, the company's Project
Director for Cuba and Equatorial Guinea Dmitry Borisov said.
"Taking into account the strategic character of cooperation with Cuba,
we won't make any additional outlays to enter the project, we will just
compensate our partners' expenses in proportion to our stake in the
venture," he noted. Under a production sharing agreement signed by
Gazprom Neft with Malaysian national oil company Petronas this summer,
the Russian oil major acquired a 30% working interest in the Cuban project.
The first well is expected to be drilled in the first half of 2012,
which will help confirm the size and reserves of the oil deposit,
Borisov went on to say.
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