Cuban Project

Petro Australis Energy have been operating in Cuba since 2018, working to identify, develop and produce oil fields in the central region of the country.

PAE holds a 100% interest in three Production Sharing Contracts (PSCs) with Cupet, the national oil company of Cuba.

Production Sharing Contracts (PSCs)

Production Sharing Contracts enable PAE, as the Operator, to recover costs and share profits with Cupet. The three PSC’s cover 2,610km² and are onshore in the central basin of Cuba, comprising:

  • Block 21A-IOR Incremental Oil Recovery PSC (Pina oilfield)

  • Block 21A-P Exploration PSC

  • Block 14-13NE Exploration PSC

Drilling and fracking equipment

  • PAE already owns and operates a fracking spread in-country, substantial operations already performed

  • We will own a dedicated Tuff/Efusivo drilling rig and support equipment, critical items identified and deposits paid

Production infrastructure and offtake

  • Pina is a producing onshore oilfield, with existing infrastructure, capable of 5000 bpd

  • A centrally located facility separates oil from water

  • Trucks transport the sale oil 125kms to a refinery

  • Offtake agreement between PAE and Cupet in place

Exploration and upside opportunities

The Central Basin of Cuba is very oil-rich and under-exploited. As illustrated below there are several oil discoveries in and around PAE’s PSCs.