Source: Repsol Begins Deep-Water Exploration Drilling Off Cuba

MADRID - Spanish oil firm Repsol YPF SA has begun offshore drilling in Cuban waters as part of its global exploration operations, a person familiar with the situation said Thursday.

Deep-water exploration drilling began about 50 kilometers north of Havana and will take at least 60 days to complete, this person added.

Repsol is resuming exploration in the area after it failed to find exploitable oil in 2004. The U.S. Geological Survey has said there could be a substantial amount of untapped oil off the Cuban coast.

The Repsol well is much closer to Florida than any other well in the region. U.S. authorities inspected the Scarabeo 9 drilling rig off the coast of Trinidad and Tobago and said the vessel complied with existing international and U.S. standards.

The Spanish company is operating the rig in partnership with Norway's Statoil and a unit of India's Oil and Natural Gas Corp.

Copyright (c) 2012 Dow Jones & Company, Inc.


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john | Feb. 3, 2012
We being politically astute have allowed others to drill in our backyard

Michael Davis | Feb. 3, 2012
50 miles north of Havana puts that well on our side of the boundary or very, very close to US waters. I just looked it up on the map based on this article. Of course someone else may have exact details and it might vary from this article. Dont know and yet read on and you will see why this is something the US Govt by law is required to be pursuing and yet they apparently have not. If this well is being drilled right on our US/Cuba boundary, this means if this well is a discovery they would be draining vital oil from US citizens. Am I the only one concerned over losing the worlds most precious resource to socialist Cuba? Is this a responsibility of our government? The US government? The answer is yes and here it is under federal law: In the United States Code of Federal Regulations (CFR) under section 250.101 "Duty to Protect" The US government has a duty to protect our resources from loss. 250.204 (a)(1) The US government has to allow and otherwise cause drilling and production to protect petroleum resources (oil and gas reservoirs) from loss due to adjacent production. What is our government doing? Have the offset blocks in the US been leased? No! Are there plans? Not sure Do we need to do this quickly? Yes if the US Govt plans to not be in violation of its own law then the leasing and planning must happen NOW because this will take years and the Cubans and Repsol have a multi-year head start to draining our reserves. Do something! I just did...

David | Feb. 3, 2012
We should be doing the same thing.

Tim | Feb. 2, 2012
If Florida does not want their oil just let Cuba have it.

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