Official Says Cuba to Substantially Increase Oil Production

HAVANA TIMES, April 11 — Oil and gas production in the island’s Exclusive Economic Zone in the Gulf of Mexico is likely to increase substantially, said a specialist from the Ministry of Mines and Energy Cuba, speaking on Tuesday at the Havana Convention Center.

The official forecast for 2012-2013 is to drill at least five exploration wells, from which an estimated 10 to 20 billion barrels of oil could be recovered, according to that expert.

He also stressed that the island-controlled area of the Gulf is very close to “mature” oil fields (with technology, inputs and markets) making the discovery of large oil and gas reserves very likely reported the Prensa Latina news agency.