Dominican Republic sets eyes on role in Guyana's Berbice Oil Block

The Dominican Republic and Guyana have advanced discussions in oil and gas and regional security, with the Dominican Republic having it eyes set on Guyana’s Berbice oil block.

In a statement today, the Guyana Government said that it continues to strengthen the strong partnership established through the 2023 Memorandum of Understanding (MOU), which outlined cooperation in the areas of energy, oil refinery, agriculture, tourism, and petrochemicals.

Against that backdrop, as well as the increased private-sector collaboration in both countries, the two sides have advanced several initiatives across a number of sectors.

Today, the Government of the Dominican Republic through Refineria Dominicana de Petróleo S.A., continued discussions aimed at deepening cooperation and exploring opportunities for strategic investment within Guyana’s oil and gas sector.

The President of the Dominican Republic Luis Abinader, is currently leading a delegation to Guyana.

Among the areas under consideration are investment interest relating to the Berbice Block, previously held by On Energy, as well as broader discussions on regional energy security and future opportunities for collaboration.

“These engagements align with the Government of Guyana’s long-term vision of enhancing national and regional energy security, while positioning Guyana as an important energy partner within the Caribbean. The two Presidents also welcomed the increasing collaboration between private sector entities in both countries, including efforts to form partnerships and consortia in agriculture, energy, and petrochemicals,” the Government said in a statement.

Both Governments expressed satisfaction with the progress being made under the framework of the MOUs signed in 2023 and reaffirmed their commitment to advancing initiatives that strengthen economic ties and create mutual opportunities for the people of Guyana and the Dominican Republic.