Petroleum Exploration
In 2012, three deepwater (more than 300 meters of water) exploration wells were drilled by the Italian platform Scarabeo 9 (owned by Saipem, for different oil companies : one for Repsol was finished in May, one for Petronas and Gazpromneft, finished in August, and finally one for PdVSA, finished in late October. None of the three found commercial quantity of oil or gas, which jeopardized Cuba's hope to find hydrocarbons to boost its economy, and prompted Repsol to relinquish its concessions in this country Prospects remained good for discovery of modest commercial deposits with additional exploration but planned departure of the only deep-water drilling rig available in the fall of 2012 set the detailed exploration program necessary back for a period of years. There remain unexplored deep-water leases held by Vietnamese and Angolan firms and drilling was planned on a shallow-water prospect east of Havana by Zarubezhneft, a Russian company, using a Norwegian rig.
Read more about this topic: Oil Reserves In Cuba
Famous quotes containing the word exploration:
“For women who do not love us, as for the “disappeared”, knowing that we no longer have any hope does not prevent us form continuing to wait. We live on our guard, on watch; women whose son has gone asea on a dangerous exploration imagine at any minute, although it has long been certain that he has perished, that he will enter, miraculously saved, and healthy.”
—Marcel Proust (1871–1922)