Dominican Republic Launches Debut Licensing Round
The Dominican Republic launched its first ever licensing round of oil and gas blocks July 10. The Caribbean island has put 14 onshore and offshore blocks up for tender, the ministry of energy and mining reports. The blocks on offer are in the Cibao, Enriquillo, Azua, and San Pedro basins.
Applicants have until October 13 to file required documentation regarding financial and technical capacity. A list of qualified bidders will be published November 8. An auction will take place on November 27 with bids to be approved by the national congress. Operators will have eight to ten years to explore and must drill one well.
A ceremony launching the offer in Houston was attended by 26 companies from 11 countries, according to a ministry statement. Occidental Petroleum's acquisition Anadarko, Chinese Cnooc, Italian Eni, US ExxonMobil, Spain's Repsol, Anglo-Dutch Shell and French Total were among other oil and gas companies. Seismic players and offshore drillers were also noted.
Minister of energy and mines Antonio Isa Conde claimed the companies had shown interest and optimism about the potential of the country. "We are receiving very good signals," said the official.
Wood Mackenzie is advising the ministry and its director of upstream consulting, Juan Agudelo, said the country does not now have any operators searching for new fields. If the rounds attract explorers, it will bring investment, he said.