Cuba offering more offshore oil drilling leases to foreign investors

From our Bureau of Catastrophes Waiting to Happen, with assistance from our Bureau of Inevitable Disappointments

With oil from its colony of Venenozuela drying up, Castro, Inc. is now offering more tracts of potentially oil-rich offshore sites for drilling.

Thus far, none of the undersea tracts offered to foreign investors have struck enough black gold to make anyone as rich as Jed Clampett.

But, as usual, the suckers keep coming, pouring their money into Castro, Inc.’s shyster pockets.

God help the Gulf of Mexico if any of these sites end up full of oil drilling platforms in the hands of Castro, inc. All previous oil rig disasters and oil spill records are bound to be surpassed at an unimaginable scale.

From Oil Field Technology

Unión Cuba-Petróleo (CUPET), in partnership with BGP, will be running a promotional event to include presentations and data viewing relating to the 2019 licensing round, alongside the EAGE conference, 3-6 June 2019. 24 blocks offshore in the Cuban economic exclusive zone of the Gulf of Mexico are being offered.

Cuba produces around 60 000 boe/d from the western offshore by drilling extended-reach wells through duplex structures in folded and thrusted belts. Reservoirs are composed of fractured and lixiviated carbonates from the Late Jurassic, with seals lithologically composed of Tertiary shale.

The first well was drilled in 2004. In 2012, three exploration wells were drilled in this area, with targets focused on Cretaceous carbonates and no commercial oil was discovered; however, all wells had oil shows originating in Late Jurassic source rocks.

in 2017, 26 880 km of new, high-definition 2D multi client seismic was acquired by BGP and has provided valuable information on basement depth and sedimentary thickness. New areas with high potential for petroleum systems have been determined. Through the mapping of several leads in a first interpretation stage, resources are estimated at more than 10 billion barrels of recoverable oil, with expected qualities of 25-35° API.

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Hot diggitty dawg, gonna get us some o’ that Cuban oil