Caribbean privileged energy landscape positions it as one of the main markets for the coming years, and the prospects for growth in the energy sector are highly favorable.
Australian independent Melbana Energy, in partnership with Angola’s state-owned Sonangol, has discovered oil in Block 9 in Cuba through the Alameda-1 and Alameda-2 wells. This discovery is considered potentially transformative for the island's hydrocarbon sector, suggesting future production development in this area.
Significance: Opens the door for enhancing the country’s energy security & creating opportunities for international investment in its energy sector.
Melbana Energy began drilling the Alameda-3 appraisal well in Block 9 on December 15, aiming to test deeper reservoirs (Alameda and Martí) that were previously discovered. Early results from flow tests have shown typical Cuban oil characteristics and significant formation pressure, supporting the geological model of the area.
Significance: It shows the company's commitment to unlocking Cuba’s hydrocarbon potential and could lead to increased production and foreign investment.
Cuba is set to install 4,000 megawatts of photovoltaic solar capacity as part of agreements between the state-owned UNE and several foreign companies.
These deals emerged from the second International Renewable Energy Fair in Havana, with investments estimated at over $4 billion. The program will be implemented gradually with foreign partners.
