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-- Hydrocarbon Processing Article --

Guyana and the Dominican Republic are making progress on accords for offshore oil and gas exploration and to build a petrochemical plant and possible refinery in the South American country, Dominican President Luis Abinader said.

The countries signed a memorandum of understanding in 2023 to work jointly on the energy projects.

The Dominican government is interested in exploring Guyana's Berbice offshore block, which was returned to the government by Toronto-listed CGX Energy, as well as developing the potential new refinery and urea plant.

Guyana is pressing a consortium led by Exxon Mobil, which controls all oil and gas output in the country, to deliver natural gas to shore from its floating production facilities to feed power generation, petrochemical and liquefied natural gas (LNG) projects that could expand revenue.

Abinader and Guyanese President Irfaan Ali spoke at an energy conference in Guyana's capital, Georgetown.