Flag day: in Cuba
- Repsol's spring fever
- Industry looks for change in Cuba as Fidel steps down
- Cuba signing
- Petrobras takes the plunge in Cuba
- PDVSA and Cupet dive in off Cuba
- Gold Oil to explore Cuba
- Lula boosts ties with Cuba
- Lula primes Petrobras for Cuba push
- PetroVietnam makes Cuba play
- Hazy days in Havana
- Ideological battle in US backyard
- Pebercan pushes Cuba flows
Cuba drilling plans pushed back
Cuba's Basic Industry Minister Yadira Garcia said today that plans by a consortium of companies to drill in the Cuban sector of the Gulf of Mexico this year have been pushed back until next year, according to local media.
"In the Gulf of Mexico we are doing seismic studies and our perspective is we should resume drilling in the area next year," Garcia was quoted as saying in official newspaper Juventud Rebelde.
Last year, Garcia said that drilling by a consortium led by Spanish player Repsol-YPF would begin this year, depending on rig availability.
Seven foreign companies have signed exploration agreements with Cuban state-run player Cupet for 28 of the 59 blocks available in Cuba's economic exclusion zone in the deep-water Gulf of Mexico.
Earlier this week, Rafael Tenreyro, Cupet's exploration director, said activity in Cuba's deep-water play was picking up.
"Right now seismic studies are under way over 2300 square kilometres and very soon 3D studies will begin over 4500 square kilometres in the Gulf of Mexico," he told official media.
The US Geological Survey estimated the North Cuba basin could contain 4.6 billion barrels of oil, with a high-end potential of 9.3 billion barrels, and close to 1 trillion cubic feet of natural gas.
As well as Repsol-YPF, India's Oil & Natural gas Corporation and Norway's StatoilHydro, Venezuela's PDVSA Petrovietnam, Malaysian state-run outfit Petronas and Canada's Sherritt International have taken on Cuban blocks.
In January, Brazilian giant Petrobras said it was considering entering Cuba's depp-water play.
Cuba produces about 75,000 barrels of hydrocarbons per day, around 50% of its energy needs, importing the remainder from Venezuela on preferential terms in exchange for health, education and other services.