Cuba planning to drill deep-water oil wells in the Gulf of Mexico

Guantanamo (Solvision).- The Cuban oil industry is planning to drill five deep-water oil wells in its exclusive economic zone in the Gulf of Mexico, announced Manuel Marrero, specialist with the Ministry of Basic Industry (MINBAS).

Marrero told participants in the 2nd Cuban Conference on Oil and Gas that the drilling is planned to take place from 2011 to 2013 with the participation of world prestigious companies. They will use a semi submersible drilling rig, considered the best of its type safety and technology wise.

Marrero stressed that environmental regulations established for the drilling operations are very strict and severe.

The companies and entities participating in the project will have a logistics center with the required equipment, located at the Mariel port.

The 2nd Cuban Conference on Oil and Gas is part of the Sixth International Convention on Earth Sciences underway at Havana’s Convention Center including a trade fair inaugurated this Tuesday.

JG: Christopher Helman, wrting for Forbes, reports that the companies that will be drilling are: Spain’s Repsol, Norway’s Statoil, Russia’s Gazprom, India’s ONGC-Videsh, Malaysia’s Petronas, and Venezuela’s PDVSA.

He also stated that “the U.S. economic embargo against Cuba is clearly a failure and that now is the time to end it.”

Related article: Repsol says big oil fields possible offshore Cuba

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