Truemors
This is very good news for oil hungry humans , but the explopration of oil with the declining trend of oil prices along with weakening US economy is going to be very tough task.The Cuban economy is going to get some boost after this news of huge oil reserve discovery.
The state-owned Cuban oil company says the country may have more than 20bn barrels of oil in its offshore fields - more than double the previous estimate.
Cubapetroleo's exploration manager said drilling in the offshore wells would begin as early as the middle of 2009.
Such reserves would place Cuba among the top 20 oil producing nations.
Cubapetroleo's estimates are based on comparisons to known oil reserves found within similar geological structures off the coasts of the US and Mexico.
The company said Cuba had undersea geology "very similar" to that surrounding Mexico's giant Cantarell and Poza Rica oil fields in the Bay of Campeche.
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