The Australian company Melbana Energy Limited, responsible for oil exploration in the municipality of Martí, in Matanzas, may carry out its first export of that Cuban crude by the end of June this year, according to a report published this Wednesday, May 14.
The crude extracted from the Alameda-2 well, considered to be "high quality," has increased in volume and there are already more than 15,000 barrels of oil stored. The first shipment is expected at the end of June, according to the announcement.
"Alameda-2 continues to produce oil at a controlled rate since mid-April," he stated, in addition to announcing that all permits, inventories, and equipment have been received, and the civil works for Amistad-2, the first well in Block 9 specifically designed to maximize production, have been completed.
The crude oil from Alameda-2, lighter than the oil normally found in that area, will be shipped in June as part of a first "test" export.
Andrew Purcell, CEO of Melbana Energy, stated that at the current production rate, they will have "enough oil for the first test shipment next month."
"The results of this exercise, combined with those from the upcoming production well Amistad-2 -the first designed to maximize the production of the entire Unit 1B formation-, bring us one important step closer to the acquisition of a financing line for our field development plan, with the final investment decision expected before the end of the year," it was communicated.
Before being stored, the crude undergoes a process of "in situ primary separation." After that, it is transported by road for about 50 kilometers to the facilities of Cuba Petróleo (CUPET) for processing and final storage.
The entire process requires a minimum of personnel, which lowers operational costs, stated the Melbana note.
Without mentioning the potential buyer of the crude oil, the company stated that the interested party "is studying the timing and availability of a suitable coastal tanker or the possibility of combining the shipment with the upcoming scheduled exports of larger volumes of crude oil."
The company is also reviewing its plans to open two more wells, one of which will be located 850 meters southwest of Alameda 2. For this, the construction of access roads has been completed, and all necessary materials permits have been obtained to begin drilling.
This is a production oil well exclusive to Unit 1B, and total drilling is expected to take less than three weeks. Following that, testing and completion will take place.
The Australian company began drilling exploratory oil wells in Cuba years ago, while power outages were intensifying in the country, which continue to affect the residential sector.
Melbana Energy is one of the few foreign companies operating in Cuba. In 2018, it announced that the Island's authorities granted their approval to proceed with drilling plans, adhering to local and community regulations regarding land use and potential environmental impacts.
The company, which is listed on the Australian Stock Exchange and is headquartered in Sydney, has satellite offices in Melbourne, Havana, and Varadero. In 2015, it obtained the rights to drill in an area known as Block 9, managed by the Cuban state-owned company CUPET, where it is estimated that up to 141 million barrels of oil could be produced.
Frequently asked questions about oil exportation in Cuba
Which company is in charge of oil exports from Matanzas?
The Australian company Melbana Energy Limited is responsible for the extraction and export of the oil discovered in Matanzas, specifically in the Alameda-2 well.
When is the first export of high-quality Cuban oil expected to take place?
It is expected that the first export of this high-quality crude oil will take place at the end of June 2025. The oil will be exported as part of a first "test" export.
What characteristics does the oil extracted from the Alameda-2 well have?
The oil extracted from the Alameda-2 well is considered "high quality" and is lighter than the oil commonly found in the area. This crude has increased in volume and has been stored in more than 15,000 barrels.
What is the impact of oil exploitation in Cuba amidst the energy crisis?
Oil exploitation in Cuba, led by foreign companies like Melbana Energy, aims to increase the national crude oil production. However, the energy crisis persists due to resource shortages and reliance on imports, which severely impacts the population with blackouts and a lack of essential fuels.
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