Are Nodding Donkeys Coming To The Dominican Republic?

Photo: Commons Wikimedia. Could oil pumps like this become part of the landscape in the Dominican Republic.
- Advertisement -

A study conducted jointly by the Dominican Oil Refinery and Pedro Henríquez Ureña University  has revealed that there are four basins in the Dominican Republic that have the necessary depth, pressure, and temperature conditions to produce oil locally.

These findings are detailed in the report titled “Geochemical Modeling in the Azua, San Juan, Cibao, and Enriquillo Basins,” which builds upon a previous document presented in February.

The earlier report had identified the presence of geological hydrocarbon formations.

The problem is that there is a huge gap between idenifying areas that might have commercially valuable oil and gas and actually exploiting these resources by pumping them out of the ground, refining them, and distributing them. Basically it comes down to money. Oil exploration is not cheap.

Yamily López, the general manager of Refidomsa, emphasized that the insights from these studies are accessible to potential investors interested in entering the commercial oil sector.

She also emphasized  the strategic importance of these investigations for the Dominican State. At the present time the DR is heavily dependent on oil and gas imports for transportation, lighting, air conditioning, and domestic cooking, which is a burden on the economy.

Within the region in recent years, Guyana has gone from being one of the poorest countries in the Americas to being the self-proclaimed ‘Dubai of the Americas’ due to royalties from oil discoveries under its territorial waters.

“These reports are the outcome of rigorous scientific investigations conducted by our technical team. They form part of a strategy led by Dr. Leonardo Aguilera, the president of the board of directors, aimed at deepening our understanding of the country’s oil basins,” López explained.

The study affirms that these scientific discoveries will bolster ongoing research efforts, aiming to precisely and reliably document the presence of oil and natural gas in the national territory.

Sources: Dominican Today, Listin Diario.

 

- Advertisement -