Economy February 21, 2024 | 8:30 pm

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Refidomsa finds hydrocarbon potential in Dominican basins

Santo Domingo.– Refidomsa, the Dominican Petroleum Refinery, just dropped a bombshell: a new scientific study suggesting that several basins within the country’s borders hold the potential for significant oil and gas deposits.

At a recent press conference, Refidomsa’s president, Dr. Leonardo Aguilera, alongside technicians from the Oil and Gas Research and Exploration Unit who conducted the study in the Azua, San Juan, Enriquillo, and Cibao basins, unveiled the groundbreaking findings.

“This study,” Aguilera emphasized, “will completely reshape our approach to finding major oil and gas reserves. By analyzing the unique geological and geophysical features of our land, we’ve identified promising areas for exploration.”

He further explained that this “first-of-its-kind” study fills a critical gap in understanding the Dominican Republic’s potential for large-scale oil and gas production. Prior efforts, he noted, lacked the systematic approach needed to yield concrete results.

The study, a collaborative effort with the Pedro Henríquez Ureña University (UNPHU) and the University of Santander in Colombia, boasts the backing of renowned laboratories and research centers. Led by Ramón Cruz and Gregorio Rosario, Director and Deputy Director of Refidomsa’s Oil and Gas Research and Exploration Unit, the research was conducted with “meticulous scientific and technological rigor,” Aguilera stressed.

This study, he added, serves as a springboard for further exploration and development. “Our next steps involve quantifying potential reserves and production rates, paving the way for potential extraction,” he explained.

Recognizing the strategic value of this information for the Dominican Republic, Aguilera emphasized their commitment to transparency. “The details of this study will be used to attract potential national and foreign investors interested in joining this exciting venture,” he stated.

He concluded by inviting investors to leverage this valuable tool, complete with geolocated data pinpointing areas with high potential for oil and gas deposits, supported by evidence of favorable geological conditions.

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February 22, 2024 6:15 pm

So assuming they find large oil and gas reserves, how will this affect the DR’s future path towards renewable energy?

Last edited 1 month ago by DCamp21