Economy June 25, 2021 | 11:11 am

Deputies OK search for oil in the East

Santo Domingo.-  The Chamber of Deputies approved the contract between the Dominican State and Apache Dominican Republic Corporation LDC (contractor) to explore and exploit hydrocarbons in the Costa Afuera SP2 area of the San Pedro de Macorís basin (east), as result of the first round of oil and gas blocs in the Dominican Republic.

The president of the Chamber of Deputies, Alfredo Pacheco, said that it is not a concession to the mining company, rather a contract for the exploration and exploitation of hydrocarbons in the Costa Afuera SP2 area of the San Pedro de Macorís basin.

The piece was opposed by the Alianza País deputies.

Lower chamber spokesman, José Horacio Rodríguez, explained that there is an inequality in terms of the benefits of the eventual oil production.

The contract establishes 60% in favor of the company and 40% in favor of the State.

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