Russian Firm Postpones Cuba Oil Drilling

HAVANA TIMES – The Russian company Zarubezhneft and CubaPetróleo agreed to postpone until 2014 their offshore drilling program, reported Prensa Latina.

Executives of the two companies held talks in Havana, and issued a joint statement.

“Considering the geological complications encountered, it was agreed to amend the initial drilling program by adding a second stage which provides for a second phase in 2014,” says the text.

Since December 2012, Zarubezhneft has executed drilling in an exploratory well in Block L of Cuba’s offshore platform, with no success thus far.