Cuba Business

Varadero Cuba oilfield may start yielding crude oil

Posted May 11, 2006 by publisher in Cuba Business.

Prensa Latina

Cuba hopes to extract 200 tons of oil per day in a Varadero oilfield, which use could last over 15 years, an official source said Tuesday.

It is a sloping well, drilled from the soil to the sea, 16,948 feet long, at an angle of 83 degrees, with a 13,625 foot horizontal displacement, which is considered a record in the country.

Canadian Sherrit Oil and Gas International and Cuba Petroleo state company said it took 80 days to drill the well and some crude oil layers were crossed.

Granma revealed that the cost of the well reached $6.5 million US dollars.

Member Comments

On May 13, 2006, Bernie wrote:

My figures on this well would be apprx. 1400 barrels a day.
Owning a well with this kind of production would please me
greatly.  I don’t mind if I am to be corrected on these figures.

Go drillers go.