• By The Financial District

CUBA, RUSSIA USE VERTICAL WELL FOR OIL EXTRACTION

The Russian company Zarubezneft and Union Cuba Petroleo (CUPET) are successfully using the vertical well technology, a government source said on Friday, September 4 (September 5, 2020 in Manila).

According to the minister for Foreign Trade and Foreign Investments (MINSEX), Rodrigo Malmierca, the new technology has yielded a flow of 52 metric tons (MT) a day in Boca de Jaruco in western Mayabeque province.


Malmierca said Zarubezneft has invested in oil exploration in Cuba and brought in new technology, Prensa Latina reported.


The general director of Zarubezneft JSC, Sergey Kudryashov, pointed out in a communiqué that the Boca de Jaruco project is a strategic element to maintain its technological leadership in the industry, which implies the creation and development of innovative approaches on oil production.