Heavy oil production rising, but exploration low in Cuba

Exploratory drilling is at a low level in Cuba, but development drilling by one group has boosted domestic production to its highest level in years.The country generated little interest last year when it first offered Gulf of Mexico blocks during a period of historically low oil prices. Now at $30 oil it plans to re-assess interest in that area and other opportunities with a presentation at the World Petroleum Congress in Calgary this June. Click here to enlarge imageThe production increases consist of heavy oil from fractured reservoirs near Havana in Cuba's northern basin.The chief joint-venture operator of wells in Cuba, Sherritt International Corp., Toronto, said new oil treatmen...

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