Dominican Republic, Guyana to decide on petroleum agreements soon

President of the Dominican Republic, Luis Abinader, has announced his country’s readiness to finalise petroleum exploration agreements with the Government of Guyana as part of the Memorandum of Understanding (MoU) signed between the two nations in 2023.

The Latin American leader made this announcement during his keynote address at the opening of the 4th edition of the Guyana Energy Conference & Supply Chain Expo on Tuesday.

President Abinader told the gathering of dignitaries, oil and gas experts, and stakeholders that the potential construction of an oil refinery in Guyana represents a significant financial and industrial decision requiring long-term strategic planning.

“To this end, we are analysing various alternatives, which we will soon present to our Guyanese counterparts. In the coming months, we will meet to make the final decision,” the DR leader stated.

He further explained that extensive studies and discussions have already taken place between the two nations regarding petroleum exploration. “The Dominican Republic is now ready to finalise agreements on the location of the Berbice Block, which will soon be completed with the Ministry of the Environment,” he noted.

Aiming to enhance bilateral relations, President Dr. Mohamed Irfaan Ali and President Abinader signed several agreements in 2023 in the areas of food security, energy, and human capital development.

President Abinader emphasised that Guyana and the Dominican Republic share a commitment to innovation and economic sovereignty, paving the way for deeper cooperation between the two states.