Another Cuban oil well turns up dry

Offshore staff

HAVANA, Cuba — The Venezuelan government-owned company PDVSA reported that it found no commercially viable oil in Cuban waters in the Gulf of Mexico, making their exploration well the third unsuccessful search for oil in recent months, reported the Havana Times.

Petroleos de Venezuela (PDVSA) and CUPET closed their exploratory well last week in Cabo de San Antonio, off the far western end of the island, having found no “potential for commercial exploitation,” the Cuban state-run enterprise Cubapetroleo (CUPET) explained.

Nevertheless, PDVSA will continue to operate in Cuba, according to a statement by the company. “The technical expertise and valuable geological information obtained have contributed to reaffirming PDVSA’s decision to continue its participation in the exploration campaign in Cuban waters,” read the statement.

This finding is another setback for the Cuban government. The present effort was the third failed attempt to find oil in the Cuban waters of the Gulf of Mexico. In late May, the Spanish energy company Repsol announced it was shutting down its oil exploration effort off the coast of Cuba after failing to find oil on its first bore.

11/5/2012

 

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