Brazil's Petrobras won't give up on Cuba.Brazilian state-owned giant Petrobras is taking another look at deep-sea exploration deep-sea exploration: see oceanography. in Cuban waters in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , Brazilian officials said Nov. 7. "Petrobras is interested in oil prospecting in Cuba," said Miguel Jorge, Brazil's minister of development, industry and trade, at the annual FIHAV trade fair in Havana. Diplomatic sources told Reuters that a high-level Petrobras delegation had visited Cuba in September and that a team of technical experts were in Havana for talks with Cuba's state oil company, CUPET. Jorge said he didn't know whether any agreements would be signed during a visit Brazilian President Luiz Inacio Lula da Silva sil·va also syl·va n. pl. sil·vas or sil·vae 1. The trees or forests of a region. 2. A written work on the trees or forests of a region. plans to make at the end of the month. He said Brazil had ample deep-water technology and can build exploration platforms that are in short supply in the current rush to find new deposits spurred by high oil prices. Petrobras prospected for oil in Cuba between 1998 and 2001, but withdrew after sinking an estimated $16 million in a coastal wildcat well Noun 1. wildcat well - an exploratory oil well drilled in land not known to be an oil field wildcat oil well, oiler - a well that yields or has yielded oil that turned out dry. In 2003, Petrobras studied seismic data on Cuba's Gulf of Mexico prospects but took no decision. Interest in Cuba's Gulf of Mexico blocks picked up after Spain's Repsol-YPF SA discovered a small deposit of light oil in 2004 that was not commercially viable. Repsol has since joined forces with Norsk Hydro Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. and India's ONGC ONGC Oil and Natural Gas Corporation ONGC Oil and Natural Gas Commission (India) Videsh. The consortium plans to drill a second well late next year. |
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