US company Apache to spend US$85M to seek natural gas

Santo Domingo.- The US company Apache will invest US$85 million to search for and drill in the hydrocarbon block at the San Pedro maritime basin (east).

This company, the first to win a tender for hydrocarbon exploration in the country, will have four years to carry out the corresponding studies and determine if there is exploitable natural gas in that area.

If so, the entrepreneurs will invest to exploit that resource, said Energy and Mines Minister Antonío Isa Conde, on Wed.

The contract to base the negotiations are under a shared production regime, which guarantees 40% of the profits to the Dominican State, said Isa Conde. “They can also be charged with in kind that is, the State can ask the Apache company to pay with natural gas.

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