Economy October 23, 2020 | 9:05 am

US firm will search for oil on Dominican south coast

Santo Domingo.- The government on Thur. signed a contract with the American company Apache Corporation to explore and exploit hydrocarbons in the continental shelf south of San Pedro de Macorís (east).

President Luis Abinader expressed optimism with the project that seeks to develop the hydrocarbon industry. He said it will benefit the country and the foreign company as well.

He said the exploration of hydrocarbons will look for crude oil and natural gas, of great importance in the generation of electricity.

The contract was signed virtually from the National Palace by Energy and Mines Minister Antonio Almonte, and Timothy Custer, senior vice president of Apache Dominican Republic Corporation LDC, a subsidiary of Apache Corporation.