The Santa Cruz oil field is located approximately 45km from Havana between Boca de Jaruco and Canasí oil fields and approximately 150 km west of Melbana’s existing Block 9. Santa Cruz is in the northern foldbelt of Cuba – the trend that is responsible for the vast majority of Cuba’s oil and gas production. Melbana has secured the exclusive right to assess Santa Cruz and negotiate an incremental oil recovery contract.
In close proximity to the Santa Cruz oil field, the Cuba national oil company (Cubapetroleo or Cupet) reported to Cuban media a significant discovery of lighter than typical crude oil in an exploration well drilled on the Bacuranao prospect in the northern part of the western region of the island. The discovery was made late in 2017 and has been undergoing long term testing. Cupet representative Mr Osvaldo Lopez reported that the oil produced from the field has a density of 22° API, which is the highest quality oil discovered in the area and is encouraging for oil exploration activities in the area. The Bacuranao discovery is in the northern fold belt trend that continues into Melbana’s Block 9 and is in close proximity to the Santa Cruz oil field.