The Government of the Dominican Republic has expressed its interest in exploring Guyana’s Berbice offshore oil block, as well as developing a potential new refinery and urea plant, President of the Dominican Republic, Luis Abinader, announced on Tuesday.

Speaking during the opening of the Guyana Energy Conference at the Marriott Hotel, the Dominican Republic President noted that Guyana and the Dominican Republic are making progress in discussions for offshore oil and gas exploration.

While those terms are still being worked out, the two countries appear set to establish a petro-chemical plant for fertilizer.

“We have already completed a feasibility study for establishing a petro-chenical fertilizer plant primarily for Urea at a time when global supply remain frustrated and this product continues to play a crucial role in global food security. This plant will meet the needs of both nations, solidifying our food security efforts,” Abinader noted.

In addition, President Abinader noted that on the question of oil refinery, his country is seriously pursuing the issue but noted that discussions are currently in the planning stages, noting that financial implications are involved.

“To this end, we are analyzing various alternatives which we will soon present to our Guyanese counterpart. In the coming months we will meet to make the final decision,” the President noted.

The conference was told that Guyana and the Dominican Republic are also looking to collaborate in areas such as food security and training in several highly technical areas.

The Guyana and Dominican Republic Chamber of Commerce has already been established and is set to be operational in both countries.

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