• Submitted by: Luis Manuel Mazorra
• Business and Economy
• 12 / 21 / 2011

---

 

Tomas Benitez, Minister of Basic Industry reported that in the last five years in Cuba have reached four million tons of oil produced on the island. With this figure will close this year.

In an appearance before the Committee on Energy and Environment of the National Assembly of Popular Power, the owner said that this production represents about half of consumption in the Caribbean country.

According to Benitez, the exploitation of wells, some with up to three decades in service, is in line with international standards.

He further explained that the results on the ground are around its limits, attributed to the plateau stage of production reported in some wells and a decline in performance in others, from the time in service.

The intervention of the Minister of Basic Industry followed the report of the Committee on Energy and Environment on its audit to the oil industry of Cuba in the year ending.

According to the parliamentary group work, production is achieved over 98 percent of the plan.

Lower than expected results in some new wells drilled and technological difficulties associated with that process were cited causes that affected the implementation of the plan.

Cubapetroleo managers presented to Members more than a score of measures to overcome in the coming months deficiencies in the audit.

Prominent among the shares securing the necessary resources for the sector, the signing of agreements with foreign suppliers, repair of storage tanks and treatment of oil and the increase in drilling efficiency.

The 12 standing committees of the Cuban Parliament today began two days of sessions prior to the eighth regular meeting of the National Assembly, set for Friday.

Focus the agenda issues related to the behavior of the economy this year and projections for 2012, considering the resolutions of the Sixth Congress of the Communist Party of Cuba, related to upgrading the island's economic model.