Minister of Energy & Mines Antonio Isa Conde is optimistic companies will find oil to generate more income for the government. In an interview with Diario Libre, the minister says most of the focus of his department is on backing oil exploration efforts. Now the Dominican Republic wants to join the growing number of Caribbean countries where new oil discoveries have been found in recent years.
“It is the project that we are promoting with more value, with more vigor and that will have results faster, because we are in the last inning, that is, we are already in the bidding process and in the final stages of hiring the company that will collaborate with us,” he told journalist Tania Molina of Diario Libre. Isa Conde said this project could boost the Gross Domestic Product (PIB).
He said explorations have been carried out in the Charco Largo (Azua, an area of 13,470 sq km), Enriquillo (an area of 179,160 sq km), San Juan (13,852 sq km), San Pedro de Macoris (with 7,917,201 sq km), Ocoa Bay (436,931 sq km) and Cibao Oriental (with two areas that add up 177,123 sq km). Two of the areas, those of San Pedro and Ocoa Bay are maritime exploration concessions.
Isa Conde says that the government has also granted metallic mining concessions primarily to Falconbridge, Pueblo Viejo Dominicana Corporation, Envirogold, Unigold and GoldQuest. Recently, inhabitants near to the GoldQuest exploration area in San Juan de la Maguana have objected the exploitation. The company says it will be carrying out underground mining and will rely on rainwater in the operation. The local residents and environmentalists observe the area is affected by frequent droughts. They oppose granting the needed social permit on grounds that the mining site is located in an area that is major source of fresh water.
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Diario Libre
Oil Price
16 October 2018
