Dominican Republic will expand oil, gas exploration, build gas export terminal

Dominican Republic will expand oil, gas exploration, build gas export terminal

The Dominican Republic will significantly boost oil and gas exploration next year, according to Fernando González Nicolas, president of the Roundtable of Commonwealth Countries in the Dominican Republic

The business leader spoke in the 15th Caribbean Energy Conference held in the Hilton Hotel in Port of Spain, Trinidad & Tobago, attended by public and private energy sector representatives from Great Britain, the United States, Jamaica, Suriname, Guyana and Barbados, among others.

In a statement, Gonzalez said in the first quarter of 2016 the Energy and Mines Ministry will provide information and attractive conditions for international investments to explore for oil and gas. “Energy and Mines will also call for tenders over areas where they can initiate appropriate explorations.”

He said geophysical and geology studies carried out in the past point to the possibility of oil and gas in the Dominican Republic.

Moreover Gonzalez revealed that Dominican Republic will have a terminal to export natural gas to the Caribbean region in the coming months, which in his view will bolster the country´s position as it relates to fuel.

He called on investors to take advantage of the Dominican government´s measures on energy aimed at creating attractive conditions to invest in oil and gas projects in the country.

Roundtable

The Roundtable of Commonwealth Countries in the Dominican Republic is an organization that promotes bilateral ties between Dominican Republic and the Commonwealth´s 53 countries.

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