Sherritt to relinquish deepwater blocks - Cuba
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Sherritt International will relinquish deepwater blocks N16, N23, N24 & N33 in the Catoche Deep Sea Basin upon expiry of the first exploration period in June 2008. Sherritt has been seeking a partner in the blocks since a 200 sq km 3D seismic program was completed in May 2007. Sherritt was awarded the blocks in August of 2002. The blocks cover an area of 8,164 sq km and lie in water depths greater than 2,000m. The blocks are located over the Jordan Knoll basement high in the Cuban Foreland Basin in the Western Straits of Florida to the west of Repsol-YPF's blocks N26, N27, N28, N35 & N36. Here an exploration trend exists along the buried Mesozoic Florida margin with potential traps and reservoirs expected in carbonate shelf edge facies, isolated platform buildups, and course-grained fore-reef deposits. Late Tertiary fault reactivations also create structural traps.
This article is extracted from International Oil Letter, Vol 24 issue 20, published 19 May 2008.
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