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Page added on February 28, 2008

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Analysis: Cuban oil production down

Oil production in Cuba has fallen steadily over the last half decade from a production high of nearly 65,000 barrels per day in 2003, according to energy experts on the subject.


Over the past five years, production in Cuba has dropped to about 51,300 bpd, said Jorge Pinon, a researcher at the Institute for Cuban and Cuban-American studies at the University of Miami.


While some are quick to assert that inefficiencies in the extraction process are to blame, Pinon notes Cuba’s main oil field, Varadero, is in its fourth decade of production and showing signs of being near the end of its lifespan.


“The Varadero oil field has been around for more than 30 years and is now in its natural declining period,” he told United Press International.


Energy Daily



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