01 July 2012

CUBA / RUSSIA / VENEZUELA : Moscow To Drill For Oil Off Santa Clara; Chavez Will Spend $40 Million On Scarabeo 9 To Drill Offshore.


     Intrepid La Habana freelancer Nick Miroff  has apparently been reading Russian oil journals.
      He broke this story about Moscow sending a Soviet-built Norwegian rig to Cuban waters to explore shallow waters off Santa Clara.
       Interesting news because Spain's Repsol recently pulled-out all its Cuba exploration plugs...after expensive 2 dry exploration wells...nearly $150 million. 
       Moscow-based Zarubezhneft has hired the Songa Mercur rig for $88 million to drill off shore for almost a year beginning in November.
      AND: Venezuela announced plans to spend $40 million to drill for oil off Cuba...and use the Scarabeo-9 rig...after Malaysia's Petronas.