Cuba starts promoting its Gulf of Mexico area
Cuba has begun a promotion process to share the oil wealth of its EEZ located in the Gulf of Mexico with foreign
companies. This process encompasses a 112,000 sq. km. area. Specific steps will be taken soon to promote the opening
of negotiations with companies interested in underwater crude oil prospecting and exploration.
Protected under the Convention on Maritime Rights, which is known as the Law of the Sea, the area is divided into 59
blocks of approximately 2,000 sq. km. each, most of which are located at depths of less than 2,000 m. Others are
located at up to 3,500 m. below the sea level.
The current off-shore technology enables drilling and production up to 2,000 m. underwater and, according to
predictions, in seven to eight years, commercial operations will be carried out in waters located up to 3,500 m.
below the sea level.