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DR-company given six months to commence activities in Berbice oil Block – Min. Bharrat
(Kaieteur News) – Refineria Dominicana de Petróleo S.A. (Refidomsa) has been given up to six months to begin exploration activities in the Berbice Block. This is according to Minister of Natural Resources Vickram Bharrat.
During an appearance on the Starting Point Podcast, Bharrat said the government has imposed a short timeline for the consortium to demonstrate progress under the three-year exploration agreement. “We have given them a very short time frame to start these activities. Within four to six months, we must see some kind of activities within the Berbice Block,” he noted, adding that the government wants operations in the block to generate a lot of opportunities in Region Six.
(From left) Minister of Natural Resources Vickram Bharrat, President Irfaan Ali, President Luis Abinader of the Dominican Republic (DR) and President of Refidomsa, Samuel Pereyra in Georgetown back in May.
Back in May, the Governments of Guyana and Dominican Republic (DR) inked the agreement for the Spanish-speaking nation through Refidomsa to explore, develop and eventually produce oil or natural gas from the Berbice Block offshore Guyana. The agreement was signed using provisions in the Petroleum Activities Act allowing direct government-to-government negotiations in certain circumstances.
Map showing location of Berbice Block.
The minister explained that the agreement stemmed from discussions between President Irfaan Ali and Dominican Republic President Luis Abinader. “And then the technical team to start to negotiate, and we’ve come to an agreement with which we signed,” he said.
The minister further reminded that the Berbice Block was not specially created for the Dominican Republic. “The Berbice Block was an existing block. This block wasn’t created for any special agreement or for the DR,” Bharrat said. The Berbice Block, which was previously held by CGX Energy subsidiary On Energy. The block was returned to the state in 2023 after it was relinquished. Several exploration wells were drilled in the Berbice Block: Rosehall-1, L’Esperence-1, Yakusari, Albion, L’Esperence-1, Hermitage-1 and Skeldon-1.
This publication reported that Refidomsa will represent the Dominican State and receive a 10% stake in the project without requiring an upfront capital investment. It was also stated that if commercially viable reserves are discovered, the Dominican Republic would gain access to crude oil or natural gas under preferential terms, strengthening the country’s long-term energy security.
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