MEO Australia discovered a new oil deposit in Cuba


5 August 2016

At the beginning of August 2016 MEO Australia announced the discovery of oil deposits in the north of Cuba, of the volume of 8.2 billion barrels located at a depth of 2000-3500 meters. Production of oil could begin in late 2017 – early 2018. (Information is confirmed by Cuban government officials.)

It is expected that with the opening of a new oil deposit Cuba will increase its oil production in the next 1-2 years, not only for domestic consumption but also for export.

 MEO Australia is an independent Australian company, dealing with exploring, valuation and production of oil and gas deposits. It operates in Cuba, New Zealand, Ashmore Cartier and Bonaparte Gulf regions in Australia. The company is listed on the Australian Stock Exchange.

Source: Telesurtv

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