Arab Today, arab today malaysia firm pdvsa to drill off cuba
Last Updated : GMT 04:33:33
Arab Today, arab today
Arab Today, arab today

Malaysia firm, PDVSA to drill off Cuba

Arab Today, arab today

Arab Today, arab today Malaysia firm, PDVSA to drill off Cuba

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.

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 malaysia firm pdvsa to drill off cuba Arab Today, arab today malaysia firm pdvsa to drill off cuba

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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