The Dominican Republic is set to finalise a new oil exploration agreement with Guyana sometime this year, according to the country’s President Luis Rodolfo Abinader Corona.
The President spoke at the opening ceremony of the 2025 edition of the Guyana Energy Conference and Supply Chain Expo.
“Regarding oil exploration, following extensive studies and exchanges between our commissions, the Dominican Republic is now ready to finalise an agreement on the location of the Berbice Block which will soon complete with the Ministry of the Environment, hoping to replicate the success story of your blessed nation,” Mr. Abinader said on Tuesday morning.
The partnership between the two countries has been growing significantly. Guyana and the DR signed several Moranda of Understanding in 2023 when President Ali visited the country’ the two countries agreed to collaborate in the areas of agriculture, energy and skills development.
And on Tuesday, President Abinader said work under the MoUs has advanced.
Outside of oil exploration, a petrochemical plant that will focus primarily on urea and a potential investment in an oil refinery in Guyana are other targets.
The 2025 conference and expo is being held from February 18 to 21 at the Marriott Hotel in Kingston, Georgetown.
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