Economy May 9, 2016 | 4:31 pm

Industries hail the launch of the Hydrocarbons Database

Santo Domingo.- The Greater Santo Domingo Industries Association(AEIH) on Monday called the launch of the Energy and Mines Ministry’s National HydrocarbonsDatabase ‘a transcendental’ event to attract foreign investment and promote anew source of wealth in the country.

AEIH president Antonio Taveras praised the Ministry’s technicaleffort to compile valuable information dispersed during decades to make themavailable to investors, researchers and specialized research centers. "Thisis a sign of will and that it’s possible to make things happen, even withlimited resources; there’s no excuse for the State not to be efficient."

The business leader said it’s possible to separate explorationblocks in the short term and tender them to break with the past practice ofgranting concessions without any transparency.

Taveras stressed that Energy’s initiative deserves supportat the highest political level and from civil society so it can achieve the birthof an industry exploration and hydrocarbons production.

"It’s important to note that the Energy and Mines Ministryisn’t selling illusions or creating ballooned expectations, but insteadprovided a package of objective data, formed with technical rigor, creating aprecedent in the area," the industrial leader said.

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