South America / GoM
Country profile: Cuba
Location: | Caribbean, island between the Caribbean Sea and the North Atlantic Ocean, 150 km south of Key West, Florida,0,0,0 |
Climate: | tropical; moderated by trade winds; dry season (November to April); rainy season (May to October) |
Terrain: | mostly flat to rolling plains, with rugged hills and mountains in the southeast |
Size: | 110860 sq. km total (Land area: 110860 sq. km ) |
Population: | 11,423,952 (July 2008 est.) |
Languages: | Spanish |
Government: | Communist state |
Capital city: | Havana |
Legal system: | based on Spanish civil law and influenced by American legal concepts, with large elements of Communist legal theory; has not accepted compulsory ICJ jurisdiction |
Currency: | Cuban peso (CUP) and Convertible peso (CUC) |
Licensing: |
Country profile
The islands of the Caribbean basin are predominantly net energy importers, with the exception of Trinidad and Tobago. Agriculture and natural resource extraction activities continue to constitute the basis of the islands' economies, though the tourism and service sectors are growing. In recent years, the Caribbean countries have been worried that higher global oil prices will impair their efforts to expand economically. In response, the island nations have been discussing ways to better integrate their energy sectors, especially in regards to increased natural gas exports from Trinidad and Tobago to other islands. These efforts have also focused on the major external energy suppliers to the region, such as Mexico and Venezuela.
The native Amerindian population of Cuba began to decline after the European discovery of the island by Christopher COLUMBUS in 1492 and following its development as a Spanish colony during the next several centuries. Large numbers of African slaves were imported to work the coffee and sugar plantations, and Havana became the launching point for the annual treasure fleets bound for Spain from Mexico and Peru. Spanish rule, marked initially by neglect, became increasingly repressive, provoking an independence movement and occasional rebellions that were harshly suppressed. It was US intervention during the Spanish-American War in 1898 that finally overthrew Spanish rule.
The subsequent Treaty of Paris established Cuban independence, which was granted in 1902 after a three-year transition period. Fidel CASTRO led a rebel army to victory in 1959; his iron rule held the subsequent regime together for nearly five decades. He stepped down as president in February 2008 in favor of his younger brother Raul CASTRO. Cuba's Communist revolution, with Soviet support, was exported throughout Latin America and Africa during the 1960s, 1970s, and 1980s. The country is now slowly recovering from a severe economic downturn in 1990, following the withdrawal of former Soviet subsidies, worth $4 billion to $6 billion annually. Cuba portrays its difficulties as the result of the US embargo in place since 1961. Illicit migration to the US - using homemade rafts, alien smugglers, air flights, or via the southwest border - is a continuing problem. The US Coast Guard intercepted 2,864 individuals attempting to cross the Straits of Florida in fiscal year 2006.
Energy production and consumption
Oil | Gas | |
Production: | 50,850 bbl/day (2006 est.) | 1 billion cu m (2006) |
Consumption: | 150,000 bbl/day (2006 est.) | 1 billion cu m (2006) |
Exports: | ||
Imports: | 98,100 bbl/day (2005 est.) | |
Reserves: | 243 million bbl (1 January 2006 est.) | 67 billion cu m (2006) |
Major fields: |
Cuba - recent news
23 Jan 25 |
Cuba: Melbana Energy to commence first phase of the field development plan for Block 9, onshore Cuba Melbana Energy has announced the first phase of the development plan for Block 9, onshore Cuba. As announced at the AGM, the first phase of the field development plan will be a workover of the existing Alameda-2 completion within the Amistad Unit 1B reservoir followed by the drilling of a number of production wells into Unit 1B reservoir within the Amistad Structure, the first being the Amistad-2 well |
19 Dec 24 |
Cuba: Melbana Energy provides Cuba Block 9 update Materials for the Alameda-2 workover now in country. Drilling of the Amistad-2 production well to immediately follow workover. Permits received to start civil works for the 2025 program. 2025 work plan and budget approved by both partner and regulator. Melbana’s subsidiary approved as operator in Cuba. 3D seismic area scouting completed. |
11 Sep 24 |
Cuba: Melbana Energy announces approval of Block 9 Amistad field development Melbana Energy has announced the approval of the Block 9 Amistad field development, onshore Cuba. The Company is formalising a joint marketing and sales agreement with all Block 9 stakeholders to export 100% of production and is also in discussions with several potential new partners and credit providers who have demonstrated interest in participating in the development of Block 9. |
27 Jun 24 |
Cuba: Melbana provides Block 9, Alameda-3 appraisal update - Alameda reservoir Melbana has provided an update on the Almeda-3 appraisal well. Both the Marti and Alameda reservoirs failed to flow moveable hydrocarbons. Melbana's immediate plan is to work on the steps required to export production from the Amistad reservoir this year and to develop more appraisal wells in the Amistad reservoir thereafter. |
25 Jun 24 |
Cuba: Melbana Energy commences flow testing at Alameda-3 Melbana Energy, a 30% interest holder in and Operator of Block 9 PSC onshore Cuba, has provided an operational update for Alameda-3. The Company confirms that flow testing has now commenced for the Alameda reservoir, following a recent flow test on the Marti reservoir, |
Cuba - more news
Other countries in this region
- Argentina,
- Aruba,
- Bahamas,
- Barbados,
- Belize,
- Bermuda,
- Bolivia,
- Brazil,
- Canada,
- Chile,
- Colombia,
- Costa Rica,
- Dominican Republic,
- Ecuador,
- Falklands,
- French Guiana,
- Grenada,
- Guatemala,
- Gulf of Mexico,
- Guyana,
- Honduras,
- Jamaica,
- Mexico,
- Nicaragua,
- Panama,
- Paraguay,
- Peru,
- Suriname,
- Trinidad,
- Uruguay,
- USA,
- Venezuela