RD Arouses Interest in Well-known Companies on Oil Potential

Source Press Release
Tags Licensing Rounds, Upstream Activities
Date July 10, 2019

From today until October 13, interested companies will send the required documents. On November 8, the prequalified companies that will go to the auction of 14 onshore and offshore blocks will be published, which will be held on November 27. Once auctioned, the contracts must be signed by the President of the Republic and the Ministry of Energy and Mines and sent to the National Congress.

A total of 26 recognized companies from 11 countries, linked to the exploration and exploitation of hydrocarbons, participated in the first oil round sponsored by the Dominican Republic in this US city, with the purpose of awakening interest for the bidding process. oil blocks identified in the national territory.

The Minister of Energy and Mines, Antonio Isa Conde, stressed that, among the entities participating in the activity, carried out at the Hyatt Regency, there was interest and optimism about the potential of the country in terms of oil and gas. "We are receiving very good signals," said the official, who heads the technical delegation of the institution present in the round.

After the opening of the round, in the first step the interested companies will send - in a term that begins this July 10 and will extend until October 13 - the evidence of their financial and technical capacity, and legal and security documents and environmental responsibility and they will share their questions and observations about the blocks offered. 

In the second step, the Ministry finalizes the versions of the blocks offered and on November 8 publishes the companies that have pre-qualified to go to the auction. 

In the third step of the process, on November 27 companies will deliver the bids by blocks, the auction will be held and the winners of the aforementioned blocks will be announced. 

Then these companies will sign contracts with the Ministry of Energy and Mines and the President of the Republic.

The fourth and last step is the submission of contracts signed to the National Congress for approval. 

The companies that attended the opening of the round were Anadarko, Apache, CGG,  Enersep, ExxonMobil, Global Integral Supply, GTC, IHS Markit, Geophysical Ion, Mertz Energy, Midland Oil Tools Intl, Noble Energy and PGS, of the United States; Repsol, from Spain; Wartsila, from Finland; WesternGeco, Tullow Oil and Cairn Energy, from the United Kingdom; CNOOC, from China; Eni, from Italy; Geopark and Trans-Globe of Canada; Transocean of Switzerland; Total, from France; Shell, from Holland; and Sertecpec, from Ecuador.

There are 14 blocks on offer. Six belong to the Cibao Basin; three to Enriquillo; one to Azua; and four to San Pedro de Macorís. 

The event attracted specialized media coverage in the energy sector such as Harts E & P, SP Global, Upstream Online and Reuters.

Source: EvaluateEnergy® ©2021 EvaluateEnergy Ltd