April 29, 2005
Venezuela and Cuba will join efforts in the exploration and production of oil projects
(BNamericas.com) - Venezuela's state oil firm PDVSA will join efforts with Cuba's state oil company Cupet in the exploration and production, refining and marketing of oil and lubricants in the Caribbean island.
PDVSA is studying upstream possibilities in Cuba's energy matrix, 'paying special attention to the [natural] gas that lies in the Caribbean continental platform'.
PDVSA opened its first office in Havana and plans to use the office as its base for Caribbean operations. PDVSA plans to build a crude storage facility with a daily capacity of 600,000 barrels in the coastal city of Matanzas and a lubricants plant with the participation of Cubalub".
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