Russia to begin oil exploration in Gulf of Mexico
Published:Thursday | July 30, 2009 | 9:16 AM
Russia is to begin oil exploration in the Gulf of Mexico, after signing a deal with Cuba.
Russian Deputy Prime Minister Igor Sechin signed four contracts securing exploration rights in Cuba\'s economic zone in the Gulf.
Havana says there may be some 20 billion barrels of oil off its coast but the US has put that estimate at five billion.
Russia and Cuba have been working to revitalise relations, which cooled after the collapse of the Soviet Union.
