Cuba-Petróleo says to drill the deepest horizontal well in Latin America and the Caribbean

Cuba-Petróleo says to drill the deepest horizontal well in Latin America and the CaribbeanHAVANA, 5 Apr (DDC) Cuba-Petróleo says drilling the deepest horizontal well in Latin America and the Caribbean.

The well, located on the north coast, already exceeds six kilometers and should reach a record of more than 8.2 kilometers, the reports said. The works are carried out by the Oil Drilling and Extraction Company of the Center (EPEP-C), belonging to CUPET.

According to the official press, CUPET has opted for this technology to “exploit the oil that lies beneath the sea from the coast” and “lower investment costs”.

The drilling began on December 28, 2016 in Boca de Camarioca, Matanzas, and has been complex “because of the geology of the underground rock,” explained Marcos Antonio Pestana, general director of EPEP-C in statements to the Juventud Rebelde newspaper.

Pestana said that EPEP-C has already extracted 8,000 tons of oil over the planned plan for the quarter.

“Drilling always imposes new challenges and at the moment we drill in six wells, which promise a lot for the production of the company and the country,” he added.

Since January, the company’s operations have been extended to Ciego de Ávila.

In Cuba, the first horizontal oil well was the “Varadero 1,000” and today there are nine open with this technology on the island.

The Cuban energy system depends almost entirely on oil. At present, the Government is looking for alternative suppliers in the face of reduced crude oil shipments at subsidized prices from Venezuela, the main regional ally, reports EFE.

According to some estimates, in the last two years the South American country has decreased its supplies to around 55,000 barrels per day, about half of its best moments, due to its economic crisis and the fall in oil prices.

Recently, Havana announced a new oil supply agreement in exchange for medical services with Algeria, which sent some 2.1 million barrels of crude to Cuba in 2017, a figure it expects to equal this year, according to specialized media.

Russia also came to the aid of its former ally, which it supplied last year with 200,000 tons of oil for the Cuban company Cubametales, in an agreement between the governments of Moscow and Havana.

Russian state oil company Rosneft has also negotiated the development of future joint projects for the production of oil in Cuban territory, both on land and at sea.

The government says that in the Cuban waters of the Gulf of Mexico there are some 20,000 million barrels of oil, but so far all the foreign companies that have explored in the area have failed to try to extract marketable quantities of crude oil.