Arab Today, arab today pdvsa to drill off cuba as repsol stops
Last Updated : GMT 14:41:47
Arab Today, arab today
Arab Today, arab today

pdvsa to drill off cuba as repsol stops

Arab Today, arab today

Arab Today, arab today pdvsa to drill off cuba as repsol stops

Havana - AFP

Cash-strapped Cuba\'s long quest for black gold took another twist with the announcement that a Malaysian firm and Venezuela\'s PDVSA will use an advanced oil platform vacated by Spain\'s Repsol. Repsol had been doing exploratory drilling since February offshore not far from Havana, but on May 22 said it had not found oil with the Scarabeo-9, a state-of-the-art $500,000-a-day platform. \"The Scarabeo-9 platform used in exploratory drilling in the field Jaguey-1X has been moved to the Catoche-1X well area\", said a statement from state oil firm Cupet read out on an official news broadcast. The new well, \"where drilling started May 24,\" is operated by a Malaysian firm that is a subsidiary of Petronas \"on a risk contract with Cupet in which Russia\'s Gastrionet also is taking part.\" Once drilling is complete on the current well, Scarabeo-9 will be moved to an area called Cabo de San Antonio 1X, run by Petroleos de Venezuela SA, (PDVSA), the Cupet statement added, without giving dates. Some studies estimate Cuba has probable reserves of between five and nine billion barrels of oil in its economic zone in the Gulf of Mexico. Cuban authorities have said their crude reserves are as high as 20 billion barrels. The country has long suffered from crippling energy dependence. The Americas\' lone one-party Communist state used to depend on the Soviet bloc for cut-rate oil and plunged into economic chaos and blackouts when it was cut off after 1989. Now Cuba depends on Venezuela -- a vital economic and political ally -- for most of its oil; any cut to Venezuelan supplies could spell political and economic disaster for Havana. But if Cuba locks in its energy independence, it could lurch from a cash-poor developing nation into a flush oil exporter overnight, potentially breathing new life into its one-party state. Cuba\'s economic zone in the Gulf is divided into 59 blocs. They include ventures with Repsol (Spain), Hydro (Norway), OVL (India), PDVSA (Venezuela), Petrovietnam, Petronas (Malaysia) and Sonangol (Angola). China and Venezuela have said they intend to help Cuba triple its refining capacity by 2017.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pdvsa to drill off cuba as repsol stops Arab Today, arab today pdvsa to drill off cuba as repsol stops

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pdvsa to drill off cuba as repsol stops Arab Today, arab today pdvsa to drill off cuba as repsol stops

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday