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Cuba Produces Equivalent to Four Million Tons of Oil in 2007
For the third occasion in its hiostory, Cuba will conclude this year with a production of fuel equivalent to four million tons of oil, Cuban Vice President Carlos Lage announced on Tuesday.

During a ceremony held on Tuesday in central Matanzas province to congratulate the workers of the oil industry in this territory, Lage said that the figure - which had not been achieved since 2003 - includes 2.9 million tons of crude oil and 1.2 billion cubic meters of gas.

Workers of the Cuban Company of Oil Drilling and Extraction participated in the ceremony that was presided over by Lage and by the Minister of the Basic Industry, Yadira Garcia.

In his speech, Lage stressed the importance of the levels of production of this hydrocarbon and the exploitation of 97% of the accompanying gas in the wells, as well as its use in the production of low-cost electricity.

Lage noted that, if Cuba had imported fuel oil to generate the electricity produced with the accompanying gas, it would have cost the island between 400 to 500 million dollars, which is twice the country's income for the sale of cigars and tobacco in the international market.

In 2007, he added, new seismic studies were conducted and 32 new wells were drilled, which was facilitated by the purchase of 10 drilling machines.


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