Dominican Republic signs agreement with El Salvador to strengthen cooperation in hydrocarbons

The following is a machine translation of a MEM release

With the aim of strengthening bilateral collaboration in the exploration and exploitation of hydrocarbons, the Dominican Republic signed a cooperation agreement with El Salvador during the IX Energy Week, organized by the Latin American Energy Organization (Olade), in Paraguay.

The agreement between the two nations provides for the exchange of experiences, public information, technology and updated knowledge in the exploration and exploitation of subsoil natural resources, such as geothermal and hydrocarbon resources.

The cooperation agreement was signed by the Dominican Minister of Energy and Mines, Joel Santos, and the president of the Executive Hydroelectric Commission of the Lempa River of El Salvador, Daniel Álvarez Camp, who highlighted that the agreement reinforces the commitment of both nations to improve practices to develop responsible mining.

Santos Echavarría said that, through this agreement, ties between these nations in the region will be strengthened to improve the capacities, infrastructure and regulatory frameworks of this sector of vital importance for the development of economies.

“This exchange of experiences between our country and El Salvador will promote actions that contribute to improving practices for carrying out mining activities that meet standards that preserve biodiversity,” said Santos, detailing that working groups will be created to formulate a plan of activities to be carried out to ensure compliance with the proposed terms.

Scope of the agreement

The scope of the agreement establishes the exchange of knowledge, experiences and good practices on the planning and execution of bidding rounds for the exploration and exploitation of hydrocarbons, as well as holding workshops for the formulation of proposals for documents associated with the management of permits and authorizations relevant to the hydrocarbon exploration process.

It also aims to transfer knowledge, experience and good practices between both nations on the development of strategic environmental and social impact assessments, as well as to generate and promote strategic synergies to create opportunities for support and development in the area of geothermal energy.

The countries undertook to develop and implement specific programmes and work plans within the framework of this Cooperation Agreement and to support its implementation.