Repsol: Exploratory Well In Cuban Waters Not Successful

Repsol: Exploratory Well In Cuban Waters Not Successful

Spanish oil firm Repsol YPF SA said Friday that an exploratory well in Cuban waters was not successful and will be capped.

In February, Repsol initiated deep-water exploration drilling about 50 kilometers north of Havana as part of its global exploration operations.

"The well was dry," said Repsol spokesman Kristian Rix. "Geologists are evaluating how we move forward."

Repsol resumed 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 was much closer to Florida than any other well in the region. U.S. authorities previously inspected Repsol's 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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Ekomobong Ekanem | May. 19, 2012
Hitting a dry well is a common occurrence in oil & gas exploration, because seismic technologies available are not sophisticated enough to identify oil & gas in an absolute manner. A hole must be put down the earth to confirm the presence of hydrocarbons. This is the challenge and we hope that the days scientists would come up with full prove technologies are numbered. For me as a Pipeline QA/QC Engineer, not a Drilling Engineer, there is not much to worry about, because I only lay a pipeline to a confirmed location. Would that I had vast skills to include drilling and production.

Perry Bonney | May. 19, 2012
" exploratory well in Cuban waters was not successful and will be capped. ... The Repsol well was much closer to Florida than any other well in the region." Well thats good. The longer their delays are, the less oil they can pump before we get an administration in that will (hopefully) authorize drilling in these same waters by US companies. I dont see that any oil spilled while drilling/pumped on behalf of the communists is any more environmentally friendly than any done so on behalf of the capitalists. Nor are their oil-spill recovery capabilities.

R.A. DuPless | May. 18, 2012
So its once again o.k. for foreign companies to drill near Florida but US companies cant go east of Mobile Bay. Congratulations to the State of Florida and the Federal government for another really stupid piece of legislation increasing our dependence on foreign oil and keeping some really good jobs out of Florida.

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