The Ministry of Energy and Mines has announced that country has a ruling and database for hydrocarbon exploration and production covering around 13,000 seismic lines of oil locations. The documentation is aimed at attracting investors to prospect for petroleum in the Dominican Republic.
Presidential Decree 83-16 made the ruling official on 7 March 2017. The ruling establishes how the authorizations, concessions, exploration permits and the production of hydrocarbons in the country will be implemented.
Minister Antonio Isa Conde says that these provisions fill a more than 60-year-old legal void. The Ministry says it is working on the model contract forms and tenders for the oil industry in the DR. The ruling follows the completion of a National Hydrocarbon Database prepared by Schlumberger-Surenco.
http://www.mem.gob.do/index.php/noticias/item/poder-ejecutivo-oficializa-normativa-para-exploracion-y-produccion-hidrocarburos
