The Dominican Republic is promoting its first licensing round for oil in decades. Deputy Minister of Energy & Mines Alberto Reyes is on record saying that the country has not issued exploration rights in the last 30 years. He says the new technologies can make the difference and there is renewed exploration interest in the region.
The Ministry of Energy & Mines launched its licensing round in Houston, Texas this month. It is offering 14 blocks across both onshore and offshore basins and other basins could be proposed. The bids will be opened on 27 November 2019.
As explained in Petroleum Economist, Reyes said that the Dominican Republic has the most gas demand in the region and is currently dependent on imported LNG. These requirements are soon going to double, as a 700MW gas-fired plant is under construction in southeastern San Pedro de Macorís.
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Petroleum Economist
17 July 2019