Replies to post #9320 on The Rising Influence of Rising Affluence

[linhdtu]

That I don't know. US-Cuba relations have been estranged for so long, my guess is that there is no data for the cuban coastal area.

So if you know that there is seismic studies for cuban coastline then definitely there is something afoot. but you and I we don't have access to that kind of info.

[linhdtu]

Check out the ocean floor map in this article. Apparently, other companies (than US) have been gathering seismic data about Cuban offshore potential. Interesting. Notice however none of these Latin American companies have much ability to drill in deep water. Shallow may be,deep no.
http://www.bloomberg.com/news/2014-12-17/obama-s-unambiguous-message-to-putin-about-cuba-we-win-and-you-lose.html

[OakesCS]

I agree about the Russians lack of skill. Is there enough oil/potential profits to interest U.S. companies?

There is not a lack of technical skill or knowledge on a personnel basis (some of the smartest, most capable folks i know in the oil biz are Russian). Many who were in Russia working for western companies have been relocated to the UK, Norway, Houston, etc. over the past several months. Those that were left behind have effectively disappeared into a blackhole. What Russian companies probably lack is organizational, supply, and infrastructure capability (and probably lower calibre technical personnel). Once upon a time, the USSR drilled what i think is still the deepest (vertical) well ever drilled and a lot of new technology needed to be developed to drill that well. I'm not sure if they used any western companies but I suspect not given its proximity to Archangel.

The answer to your 2nd question is almost certainly not for production companies. Any hydrocarbons are likely to be gas rather than oil. If there is gas, then that might be useful for the Cubans since they're a bit scarce of fuel resources. However, any gas production would be useless for export and Cuba doesnt have much money or political inclination to pay things like royalties. The only interested US companies would be on the drilling and service side and i'm pretty sure that they'd insist on an escrow arrangement.