At a time when gushing wealth from oil is coming to Guyana, government authorities in the Dominican Republic keep their hopes up that there could be commercially-exploitable oil off Dominican shores, too.
The Dominican Oil Refinery (Refidom) and the National Pedro Henriquez Ureña University (UNPHU) have released the second report on their findings of an exhaustive geological study of possible hydrocarbon-bearing areas of the Dominican Republic. The most recent release is titled: “Geochemical modeling of the Enriquillo, Azua, San Juan, and Cibao basins” and was presented at the UNPHU campus in Santo Domingo.
Refidom general manager, Yamily Lopez, told reporters that these studies are very important for the development of the country as well as for the refinery. According to this spokesperson, the results of the study will be made available to potential investors, both local and foreign, who might want to enter into a commercial venture in this area.
A first report released in February 2024 had noted that there were promising geological formations, and the current report points out that the rock samples indicate that the conditions necessary for hydrocarbon formation were, indeed, present.
In December 2022, the Ministry of Energy and Mines (MEM) contracted Geolog geochemical engineers to investigate possible oil deposits in the Dominican Republic. While there are places where crude oil comes to the surface, the worth of full-scale drilling and exploitation is still in doubt. The firm Geolog Surface Logging DMCC is a specialist in surface solutions to the geothermal and O&G industry. The research sought to remove the hesitancy of companies to explore for oil and gas here.
The Ministry of Energy and Mines has not reported on the findings of the Geolog study.
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Listin Diario
DR1 News
DR1 News
6 May 2024