http://www.lapress.org/Article.asp?l...1&artCode=4100
New oil deposit
Adital, /AIN. Jan 20, 2005
President Fidel Castro announced in late December the discovery of a new oil deposit.
Tridimensional marine seismic studies carried out by the Canadian consortium Sherrit-Peberco at the request of the Cuban government revealed four exploration prospects in the zones of Guanabo, Tarara, Jibacoa and Santa Cruz del Norte, on the northwestern coast.
Castro explained that it is lighter oil than that being extracted in Varadero and Yumurí, with very little water and with a sulfur content below 5 percent. In addition, it does not need to be pumped and will surge from the deposit under its own energy.
A preliminary estimate of the new deposit is a minimum of 100 million barrels, approximately 14 million metric tonnes, the president said, and given the good quality can be refined in a mix with lighter crude with a lower sulfur content at a proportion of around 20 percent.
This is the second find of light crude on the island. In the middle of last year, Spanish transnational Repsol-YPF announced the existence of a hydrocarbons deposit in the Economic Exclusion Zone of Cuba in the Gulf of Mexico.
New oil deposit
Adital, /AIN. Jan 20, 2005
President Fidel Castro announced in late December the discovery of a new oil deposit.
Tridimensional marine seismic studies carried out by the Canadian consortium Sherrit-Peberco at the request of the Cuban government revealed four exploration prospects in the zones of Guanabo, Tarara, Jibacoa and Santa Cruz del Norte, on the northwestern coast.
Castro explained that it is lighter oil than that being extracted in Varadero and Yumurí, with very little water and with a sulfur content below 5 percent. In addition, it does not need to be pumped and will surge from the deposit under its own energy.
A preliminary estimate of the new deposit is a minimum of 100 million barrels, approximately 14 million metric tonnes, the president said, and given the good quality can be refined in a mix with lighter crude with a lower sulfur content at a proportion of around 20 percent.
This is the second find of light crude on the island. In the middle of last year, Spanish transnational Repsol-YPF announced the existence of a hydrocarbons deposit in the Economic Exclusion Zone of Cuba in the Gulf of Mexico.
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