Havana, February 11 (RHC-PL)– The Cuban basins feature extensive oil prospects, Cuba being in the mega-basin of the Gulf of Mexico, where "black gold" is found everywhere, a local oil expert noted on Friday.

We have conducted geological studies that show that the types of oil in Cuba compare to those of countries in the area like Mexico and the United States, with which we share a common geological history, José Orlando López Quintero, director of the Seismic Processing Center of the Cuba Petroleum company, told Prensa Latina news agency.

The Cuban executive, who attended the 2017 Cuba Oil & Gas Summit in Havana this week, said Cuba's oil potential has been also confirmed by the operation of companies like Sherritt International of Canada and Melbana Energy of Australia.

The 2017 Cuba Oil & Gas Summit was attended by executives from 70 oil and gas companies from 15 countries, including Russia, USA, China, Italy, India, France, England, and Venezuela.