Cuba plans to drill exploratory deepwater wells in the Gulf of Mexico by the end of 2016 or beginning of 2017 despite current low oil prices, officials from the state oil monopoly said. Cuba-Petroleo (Cupet) will drill exploratory wells as deep as 7,000 meters (223,000 ft) in waters of up to 3,000 meters in production sharing contracts with Venezuelan state oil company PDVSA and Angola’s Sonangol. “We will initiate a drilling campaign at the end of 2016 or the start of 2017,” Osvaldo Lopez, Cupet’s head of exploration, told Reuters on Wednesday. “The essential goal of the new drilling campaign is at least two deep wells. There could be three. […]