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LatinNews Daily - 07 October 2019
In brief: Russia’s PM attends first drilling of Cuban oil well
* Russia’s Prime Minister Dimitri Medvedev attended the first drilling of a horizontal oil well located in the Boca de Jaruco oil field in northern Cuba which is being developed by Cuban and Russian state-run companies Cubapetróleo (Cupet) and Zarubezhneft, respectively. Zarubezhneft plans to drill 30 wells in two years there at a cost of €100m. Zarubezhneft’s general director Serguéi Kudriashov said that if all production plans in Boca De Jaruco materialise, the field will nearly cover all of Cuba’s domestic oil demand. The two companies have been carrying out a project since 2011 to increase the yield at the Boca de Jaruco field where the amount of oil is calculated at around 3.7bn tonnes. The prospect of more oil is welcome for Cuba, as President Miguel Díaz-Canel warned last month that the country faces a looming energy crisis due to a lack of fuel as a result of sanctions imposed by the US.
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