Melbana CEO Announces New Partnership with Sherritt: “The Best Opportunity We Have for Delivering the Best Outcome”

T. K. Hernández ()

Chapter Chapter 27 in The Cuba Interviews, 2023, pp 277-282 from Springer

Abstract: Abstract Part VII of this book is one of three interviews with oil industry executives whose companies operate in Cuba. Taken collectively, they offer insider views on the oil sector. Two of these interviews are with members of the board of directors of the Australian oil exploration company, Melbana Energy Limited. In 2015, Melbana entered the energy sector of Cuba with a Production Sharing Contract with Unión Cuba-Petróleo (CUPET), the national oil company. Melbana is involved in the exploration for oil in Block 9 on the north shore of the island near Varadero. Block 9 is in a proven hydrocarbon system with multiple discoveries nearby. They signed a farm-in agreement with Angola’s Sonangol in 2020. In early 2021, the company announced it would begin drilling at three wells that had demonstrated significant oil prospects in Block 9. Melbana reports they are now testing four separate targets with a combined pre-drill Prospective Resource of 236 million barrels of oil. This interview with the company CEO, Andrew G. Purcell, took place in March 2021 during the pandemic before the announcement of their partnership with Canada’s Sherritt International.

Keywords: Cuba; Oil in Cuba; Oil sector; CUPET; Foreign investment; Block 9 Cuba; Melbana; Sherritt International; Sonangol; Andrew Purcell (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-3-031-30203-9_27

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