[NYTr] Venez, Cuba Go for AFter Offshore Oil
 
Date: Thu, 2 Aug 2007 09:38:52 -0500 (CDT)


Via NY Transfer News Collective  *  All the News that Doesn't Fit
 
Agencia Cubana de Noticias (ACN)
http://ainch.ain.cu/mailman/listinfo/ingles

PDVSA-CUPET Go for Oil Offshore Cuba

Havana, August 2 (acn) The first offshore oil exploration project in 
Cuba's Exclusive Economic Zone was announced on Wednesday by two 
business partners, Venezuela's Oil Corporation (CVP) and the host 
Cuba's CUPET.

Six blocks covering some 10 thousand square kilometers have been 
included in this joint-risk operation. Light-oil fields to meet steady 
production are expected to be confirmed.

Around 4,000km 2D seismic offshore and 530km 2D seismic in shallow 
waters will be explored during the first stage.

This is the first deep water exploration project undertaken by PDVSA in 
this kind of environment.

Another nine agreements have been signed between the two nations in 
terms of energy, as part of the Venezuelan initiative for Latin 
American integration called the Bolivarian Alternative for the Americas 
(ALBA).
 
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