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June presentation will outline offshore Cuba licensing

June presentation will outline offshore Cuba licensing
23rd May 2019 - 12:15pm
Licensing Round
Oil

Blocks will be offered offshore in Cuba’s economic exclusive zone in the Gulf of Mexico, said state-owned Union Cuba-Petroleo Co. (CUPET), which is helping promote the licensing round with roadshow presentations and data viewing in London in early June.

CUPET said the licensing round will include 24 blocks. Information and data packages will be available to registered and qualified companies. Interested parties can contact MakingWaves for more information. No licensing round timetable was immediately available.

The roadshow is being held at the same time as the European Association of Geoscientists & Engineers meeting in London.

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

In 2012, three exploration wells were drilled in this area, with targets focused on Cretaceous carbonates. No commercial oil was discovered although all wells had oil shows originating in Late Jurassic source rocks.

in 2017, BGP acquired 26,880 km of high-definition 2D multiclient seismic, providing information on basement depth and sedimentary thickness.

Mapping of several leads in a first interpretation stage indicates estimated resources of more than 10 billion bbl with expected 25-35° gravity.

Source: Oil & Gas Journal