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Area Drilling

08/18/2008
CubaSherritt International Corp., Toronto, its Cuban oil production steady, has finalized the production-sharing contract for a carbon dioxide enhanced oil recovery pilot in Varadero field east of Havana.After completion of the $15 million pilot, Sherritt will decide whether to proceed to a commercial scale project. Varadero produces 8-10° gravity oil from 6,000 ft.Meanwhile, Sherritt signed a production sharing contract on Block 8 in south-central Cuba. The company’s gross working interest oil production in Cuba averaged 33,813 b/d in the quarter ended June 30, compared with 30,899 b/d in the 2007 second quarter. IndonesiaContinental Energy Corp., Dallas, plans to buy a 30% wor...
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