Huge Oil Rig Approaching Cuba
HAVANA TIMES, Jan 4 — The “Scarabeo 9” oil rig arrived in the Caribbean island country of Trinidad and Tobago on December 24, where it is undergoing an inspection before leaving for Cuba this coming weekend, reported the Café Fuerte website.
The platform, owned by the Italian company Eni S.p.A., was constructed in Shanghai at a cost of US $750 million.
Once it arrives in Cuban waters it will be positioned in the deep waters of the island’s Special Economic Zone during the first half of this month.
According to Café Fuerte, the Spanish oil and gas company Repsol contracted the first block to be drilled for exploration — known as El Jagüey — located to the northwest of Havana, though achieving full-scale production could take up to five years.
The US Geological Survey estimates as much as 4 million barrels in oil reserves off the coast of Cuba.
“The US Geological Survey estimates as much as 4 MILLION barrels in oil reserves off the coast of Cuba.’
The figure in the sentence above from the article is incorrect.
The Cuban oil reserves have been estimated at between four and 20 BILLION barrels depending on the source.
The U.S. underestimates and the Cubans overestimate the reserves for reasons of their own.
I find it very interesting and amusing that the U.S oil companies that are so much a part of U.S imperialism in the world find themselves excluded from the Cuban oil potential.
It is certain that the big oil companies must be in the unusual position of fighting with the U.S imperialist government to allow them to drill in Cuban waters and thereby help nullify the U.S blockade.
Cuba can totally negate the economic effects of the 50 year U.S war on the revolution by judicious extraction and sale of its huge oil reserves.
As Lenin said ” When it comes time to hang the capitalists, they will sell us the rope”
Drlll baby, drill.