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Cuba oil dreams on hold as drill rig set to depart

February 19. 2013 5:10PM
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(AP) Cuban officials confirm that the only platform in existence that can drill in deep waters off the island's west is preparing to sail away after three exploratory wells drilled this year struck out.

The Scarabeo-9's imminent departure is a disappointment for the government, and analysts say it means dreams of a big find will be on hold indefinitely.

The Scarabeo is unique in that it was built with less than 10 percent U.S. parts. Any more and its operations in Cuba would have triggered sanctions against the companies involved under the 50-year-old U.S. embargo.

Cuba's Ministry of Basic Industry confirmed Tuesday that the rig's work there is done.

It said in a brief statement to The Associated Press that the Scarabeo-9 will leave Cuba soon.

Associated Press

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