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.

Oil platform from the Zarubezhneft Co. website.

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.