The preliminary steps toward drilling into an oil basin in Cuba are underway in a project that could draw international interest, an Australian company said. Melbana Energy, an Australian exploration, and production, is one of the few foreign companies with a footprint in the Cuban oil sector. Melbana’s Alameda-1 prospect near the northern coast of Cuba is targeting a reservoir with more than 2.5 billion barrels of oil in place. The company estimates it would cost at least $20 million to drill two wells in Cuba, higher than previous estimates. The company said Wednesday it completed a tender for a drilling rig that could be deployed later this year. Bids are under review while it looks for outside partners to buy into its Cuban […]