Australia

MEO Australia: Oil Production Forecast in Cuba

August 15, 2016

Australian firm MEO Australia will join Canadian giant Sherritt International as the only foreign petroleum companies operating in Cuba. MEO Australia has signed a Production Sharing Contract (PSC) with Union Cuba Petroleo (CUPET) for exploration of “Block 9” in the newly liberalized Caribbean country. The Australian firm released a report saying that they have studied […]

Motembo, Politically Strategic Oil for Cuba

August 11, 2016

An Australian company, Meo Australia,  may have found 8 billion barrels of oil in Cuba – and then again it may not have. Found in Motembo, the “potential” resource could sustain the country for roughly 7 years, but would not be available for extraction until 2018. It may be politically strategic, however, to begin receiving […]