The Dominican Republic has its eyes on the Berbice Block, an offshore asset spanning 0.6 acres in the shallow waters of the Guyana Basin.
Its President Luis Abinader Corona shared this during the opening of the Guyana Energy Conference.
He said “The Dominican Republic is ready to finalize an agreement…on the Berbice Block…hoping to replicate [your] success story.”
OilNOW confirmed that the country has expressed interest.
The Berbice Block returned to the government in 2023 after being relinquished by CGX Energy, its subsidiary ON Energy and Frontera Energy in March 2023.
According to information on the Ministry of Natural Resources Petroleum Management Programme website, seven exploration wells were drilled; Albion, L’Esperence-1, Skeldon-1, Rosehall-1, L’Esperence-1, Yakusari and Hermitage-1.
Guyana and the DR’s collaboration spans six Memoranda of Understanding signed back in 2023. One was for the establishment of a refinery; a 50,000 barrel a day facility in Guyana with DR partners holding a 51% stake. Another was for the establishment of a petrochemical plant with an annual capacity of 300,000 tons, 200 MTD of urea with full utilization of 129 MTD ammonia production.
President Abinader said the feasibility for the petrochemical plant has been completed.
