By Circles Robinson
HAVANA TIMES — The Spanish oil company Repsol will leave Cuba after not having found oil in the first exploratory well it drilled in Cuban waters in the Gulf of Mexico, said company president Antonio Brufau in Madrid on Tuesday.
Repsol has been under intense pressure from Cuban-American congresspeople seeking to prevent Cuba from obtaining oil independence at any cost.
“It is reasonable that we have no more activity in Cuba,” said the head of the Spanish oil company during the presentation of Repsol’s strategy through 2016. “We will not make any more attempts” to find oil in Cuban waters, he added.
Repsol hired a $750 million platform for ultra-deepwater drilling that came to Cuba in late January. The first exploration well in Cuba’s exclusive economic zone in the Gulf turned up dry.
Both Cuban and US geologists believe that huge deposits of 5-20 billion barrels are present in the Cuban waters.
Several other oil giants will take turns drilling with the made-to-order Sarabeo 9 platform trying to hit the big find. These include Petronas, the Malasia state oil company, Venezuela’s PDVSA and PetroVietnam.
A total of about 112,000 square kilometers of Cuban waters are divided into blocks for exploration, noted dpa news.