Petrobras and Cuban Minister of Industry Meet about GOM Exploration

The Minister of Basic Industry of Cuba, Yadira García, was welcomed at Petrobras' main office building, in Rio de Janeiro, where she participated in a work meeting with Company executives. During the meeting, issues regarding the cooperation agreement signed between Petrobras and the National Cuban Oil Company (Cupet), signed on January 15 2008, were discussed. The document calls for initiatives in the exploration & production, lubricant, refining, maintenance, research & development, and human resource areas.

Petrobras and Cupet also examined the possibility of beginning seismic surveys in an offshore area in the Cuban sector of the Gulf of Mexico in the near future. Since the late 1990s, foreign companies have been authorized to operate in that region.

There were negotiations aimed at building a lubricant plant in Havana. Specifically for this purpose, the terms of the association agreement between Petrobras and Cupet to incorporate a mixed company are currently being negotiated.