Dominican Republic launches first licensing round

The Dominican Republic recently launched its first licensing round, putting 14 blocks up for bid across its on- and offshore Cibao, Enriquillo, Azua, and San Pedro basins.

Wood Mackenzie is assisting the Ministry of Energy and Mines with the evaluation, planning and execution of the licensing round.

Blocks will be awarded based on work commitments for the first exploration phase. Operators will have between eight to 10 years to explore and must drill one well.

Commenting on the news, Juan Agudelo, Director of Upstream Consulting at Wood Mackenzie, said: ‘This round aims to boost exploration of oil and gas in the Dominican Republic. The country currently doesn’t have any operators searching for new fields. If the rounds attracts explorers, it will bring investment and help to de-risk the oil and gas potential in the country.’