HAVANA, CUBA: Geological exploration for hydrocarbons in Cuba's exclusive economic zone in the Gulf of Mexico is increasing, government paper Granma and state news agency AIN quoted basic industry minister Yadira García as saying, according to BNamericas.
García made the comment at the inauguration this week of Cuba's third earth sciences convention that runs through Friday and includes an oil and gas congress.
The zone holds the highest potential for crude and non-associated natural gas, according to García.
The geological areas in the Gulf of Mexico, however, are very expensive to develop because they are deep and just within the limits of current deepwater drilling technology, the CEO of Toronto-based Sherritt (TSX: S), Ian Delaney, said recently.
Deepwater is the word.
2 comments:
Seadrill is the word too.
A strong week and a very strong Friday for Seadrill. Is the gain sustainable? Maybe, maybe not. The DRYS/Oceanrig/Leiv Eirikson contract showed the market that the deepwater segment is alive and kicking ass and that contract was probably the main catalyst for the move up. Swimming against the market current demands a lot strength today and I'm not sure that the SDRL-share has that strength yet. As a long-term investment the share is dirt cheap under 100 NOK.
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