Something I didn't know!
The US embargo with Cuba has some interesting loophole details.
According to the US Energy Information Administration, US companies are allowed to paticipate
in drilling and sending technology and supplies with an executive licence. Surely Cupet could help with
the "executive" licence.
I wonder if a US 3D company would be interested if this rule is still in force.
It is dated 2016, so could be different now.
https://www.eia.gov/international/analysis/country/CUB
Last Updated: July 2016
Overview
- Cuba imports the majority of their energy needs, but offshore oil and gas potential could help mitigate their reliance imports. Cuba has entered into many agreements with various countries to help with exploration and drilling efforts. As a result of the ongoing U.S. trade embargo against Cuba, U.S. companies are unable to own any Cuban oil assets. However, U.S. oil companies are allowed to participate in drilling as well as sending technology and supplies with an executive license. While there is interest in Cuban offshore assets, the combination of low oil prices and technically challenging fields could be stumbling blocks for foreign investment.
- Cuba is also seeking to diversify its energy supply with renewable sources as the country anticipates economic recovery and development. Cuba's location provides ideal conditions for renewable energy growth within the country.
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- Released News: Cuba Block 9 Operations Update
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