CUBA

(in Central America)

CAPITAL: HAVANA

POPULATION: 12 mm

AREA (on): 110,900 km2

OIL PEAK: 2002

SUPPLY

Heavy oil production is achieved onshore, mostly from very poor reservoirs in a series of fields along the northwest coast, especially at Varadero. Cuban oil output has grown substantially since foreign companies were introduced in the mid-1990s and after modern extraction techniques were implemented but little growth is forecast as technological options are now limited.

There is no offshore oil production in Cuba. There has been some exploration in shallow waters but no production is forecast due to complex geology.

Cuba uses low levels of gas where it is locally produced and will doubtless use progressively more gas associated with its oil in the future as infrastructure is built.

 

DEMAND

Cuban oil consumption declined dramatically after the break-up of the Soviet Union and the end of subsidised imports. However, since 1998 consumption has grown in line with production whilst imports have declined.

Oil imports (from Venezuela) have maintaind Cuban consumption levels, required as the Cuban economy grows and the tourism industry further develops. They will begin declining again in 2015 or thereabouts when higher prices will curtail demand growth.

Cuban gas consumption is forecast to grow slightly in line with its maximum gas output potential.

 

 
 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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