Dominican Republic to Join Caribbean Energy Exploration Rush
- Government opening areas to oil and gas companies in March
- ‘Virgin’ industry expected to garner interest from BP, Exxon
Photographer: Stanley Chen Xi/Moment RF via Getty Images
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The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean to develop energy production.
The government plans to open two land blocks for oil exploration and two offshore blocks for natural gas exploratory drilling by the end of March, said Energy and Mining Minister Isa Conde in an interview in Santo Domingo. An Exxon spokeswoman said in an email that the company does not comment on future business plans. BP did not respond to an email seeking comment.