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Dominican republic has the conditions for natural gas or oil in its territory or its territorial waters

Santo Domingo.- The Dominican Republic has much better conditions than when Israel’s authorities decided to start looking for oil natural gas to reach the energy independence it finally achieved.

Yaakov Mimran, one of Israel’s most reputed researchers in that field, was the official who led the exploration and exploitation of Israel’s natural gas deposits and now advises Dominican Republic’s Energy and Mines Ministry in its process to start exploration.

He said the country has the conditions for natural gas or oil in its territory or its territorial waters, for which the Ministry aims to collect all the dispersed studies conducted in the country thus far.

He said major investors’ interested focus on a project with a barely 10 percent chance of finding natural gas or oil, but notes that the work being done by Dominican officials could identify areas where the chance for success will jump to 35 percent, which would be more attractive for investment.

Mimran played a lead role in the exploration and exploitation of Israel’s natural gas ocean facility known as “Leviathan,” which has led to the Middle Eastern country’s total energy independence.

Quoted by eldia.com.do, the specialist said Dominican authorities collect all geological studies carried out by public and private entities to date to form one database to help assess the possibility of finding commercially exploitable hydrocarbons. “There’s re much more professional material in the Dominican Republic than when we started the route in Israel. We have information that indicates that there’s hydrocarbon on land and sea.”

Source: DT

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Last updated July 29, 2014 at 1:00 AM
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