PDVSA, Cupet to explore off Cuba

Petroleos de Venezuela SA said it will explore off Cuba with Cupet, the Cuban national oil company.

Eric Watkins
Senior Correspondent

LOS ANGELES, Aug. 1 – Petroleos de Venezuela SA said it will explore off Cuba with Cupet, the Cuban national oil company.

PDVSA said the project with Cupet involves six blocks covering 10,000 sq km, targeting light crude oil.

It said the companies will shoot 4,400 km of 2D seismic survey in deep water and 530 km in shallow water.

The announcement follows reports that Cuba is producing nearly 50% of the oil and gas it consumes (OGJ Online, July 26, 2007).

Contact Eric Watkins at hippalus@yahoo.com.

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