British oil exploration off Dominican coast

The Director General of Mining has announced the start of exploration for oil reserves off the Dominican coast. Octavio Lopez said that some surveys have demonstrated that there is natural gas in areas under the ocean and this means there is a possibility of oil being there too.

He explained that in the vicinity of the Banco de la Plata and other coastal areas, there is already data available which could suggest the presence of oil.

Lopez said that a British company is starting a survey and it will be the most extensive ever conducted in Dominican waters. The survey is not costing the Dominican Government anything and if the results are positive, bids will be invited from international companies interested in exploratory drilling. This initial British survey is due to be completed in 30 days.

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