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    Updated Information on Cuba Mineral and Petroleum Resources Released

    Updated Information on Cuba Mineral and Petroleum Resources Released
    Released: 3/31/2015 10:40:22 AM

    Contact Information:
    U.S. Department of the Interior, U.S. Geological Survey
    Office of Communications and Publishing
    12201 Sunrise Valley Dr, MS 119
    Reston, VA 20192 Steven Fortier
    Phone: 703-648-4920

    Christian Quintero
    Phone: 813-352-3487

    Cuba is among the top 10 producers of cobalt and nickel and has
    significant other mineral and petroleum resources, according to a new
    U.S. Geological Survey publication.
    The report and accompanying map highlight the mineral resources
    available in Cuba, as well as detailing locations of petroleum
    exploration and development. The map also identifies mines, mineral
    processing facilities and petroleum facilities as well as information on
    location, operational status and ownership. It also addresses the
    current status of mineral industry projects, historical developments and
    trends of the Cuban economy with an emphasis on mineral industries and
    the supply of and demand for Cuba’s mineral resources.

    “Cuba’s geology is complex, and the country has a variety of mineral
    commodity and energy resources,” said Steven Fortier, Director of the
    USGS National Minerals Information Center. “It is important that the
    public and industry have the latest information on the status of the
    mineral industry and the potential for natural resource development in
    Cuba.”

    A few key points from the report are:

    In 2013, Cuba was estimated to be among the world’s top ten producers of
    cobalt and nickel, which are the country’s leading exports
    Cuba’s current crude oil and associated natural gas production from
    onshore and shallow water reservoirs is approximately 50,000 barrels per
    day of liquids and about 20,000 barrels per day oil equivalent of
    natural gas
    In 2013, the value of mining and quarrying activities accounted for 0.6
    percent of Cuba’s gross domestic product, compared with 1.4 percent in 2000
    The value of production from Cuba’s industrial manufacturing sector
    increased by 88 percent between 1993 and 2013, whereas the sector’s
    share in the GDP decreased by 3 percent during the same period
    reflecting economic growth in other sectors of the economy
    In 2004, the USGS released an assessment of the hydrocarbons of the
    North Cuba Basin and its three sub-basins. The total amount of
    undiscovered technically recoverable resources was estimated to be 9.8
    trillion cubic feet of undiscovered natural gas, 4.6 billion barrels of
    crude oil, and 0.9 billion barrels of natural gas liquids. About 70
    percent of this oil was estimated to be located no more than 50 to 80
    kilometers (km) offshore along the length of the western and northern
    coasts of the island. To date, deepwater drilling has resulted in no
    commercially viable oil or gas discoveries.

    Industrial minerals and manufactured industrial mineral products
    produced in Cuba include ammonia and ammonia byproducts, bentonite,
    cement, feldspar, high-purity zeolite minerals, gypsum, kaolin (a type
    of clay), lime, high-grade limestone, marble, sand, sulfuric acid, steel
    and urea. In 2013, an estimated 4,500 metric tons of zeolites was
    exported to Europe and other Latin American countries and in 2014 the
    majority of the country’s ammonium nitrate was intended for export.

    In 2014, Cuba’s Ministry of Foreign Trade and Investment announced 246
    development projects for which it sought foreign investment. The
    petroleum sector offered the greatest number of prospective investment
    opportunities followed by the manufacturing and mining sectors. In the
    energy sector, the country is offering joint ventures in petroleum
    extraction from onshore and offshore blocks and foreign investment
    opportunities are being offered in biomass and solar energy production
    and hydroelectric power.

    The report ‘Recent trends in Cuba’s mining and petroleum extraction
    industries’ FS 2015-3032 is available online.
    http://pubs.usgs.gov/fs/2015/3032/

    Source: USGS Release: Updated Information on Cuba Mineral and Petroleum
    Resources Released (3/31/2015 10:40:22 AM) –
    http://www.usgs.gov/newsroom/article.asp?ID=4172&from=rss#.VRvh-_mUc3Q