Zarubezhneft CEO says Boca de Jaruco oil seen consumed in Cuba

HAVANA, Oct 4 (PRIME) -- Oil to be produced on the Cuban field Boca de Jaruco by a joint venture between Russia’s Zarubezhneft and Cuba’s Cupet, will be consumed mostly domestically, CEO of Zarubezhneft Sergei Kudryashov told reporters on Friday.

“We think it will primarily be for domestic demand, in order to solve the problem of synchronization of domestic consumption which is higher than production in Cuba, with production,” the official said.

The official said that the project is at a stage of geological exploration but 30 wells will be drilled in 2020. Investment at the stage is planned at about 100 million euros and output is seen at 2 million tonnes in 10 years.

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