3.750
%
Neutral
80
mm boe
22
%
There is an increasing exploration interest during the last few years across the Caribbean region which might encourage investments in Cuba as well.
May 19, 2021
Americas - Central
mm bbl
bcf
Caribbean, island between the Caribbean Sea and the North Atlantic Ocean, 150 km south of Key West, Florida
PSC/PSA
Cuba offers acreage for upstream operations through production sharing agreements (PSAs). A new deepwater PSA model has been announced as part of Cuba's first Offshore Licensing round. The new PSA model except from training fees does not include any royalties, surface fees and production bonuses. Cuba's fiscal changes since 2014 are increasingly attractive and favourable, especially for deep-water blocks.
The government continues to balance loosening its socialist economic system against a desire for firm political control by allowing private ownership of real estate and new vehicles, allowing private farmers to sell agricultural goods, and adopting a new foreign investment law
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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