With the aim of strengthening bilateral collaboration in the exploration and exploitation of hydrocarbonsDominican Republic signed a cooperation agreement with El Salvadorduring the IX Energy Week, organized by the Latin American Energy Organization (Olade), in Paraguay.
The agreement between both nations contemplates the exchange of experiences, public informationtechnology and updated knowledge regarding the exploration and exploitation of subsoil natural resources, such as geothermal and hydrocarbon resources.
The signing of the cooperation agreement was signed by the Dominican Minister of Energy and Mines, Joel Santos Echavarría, and the president of the Executive Hydroelectric Commission of the Lempa River of El SalvadorDaniel Álvarez Camp, who highlighted that the agreement reinforces the commitment of both nations to improve practices to develop responsible mining.
Santos Echavarría indicated that, through this agreement, ties between these nations in the region will be deepened to improve the capabilities, infrastructure and regulatory frameworks of this sector of vital importance for the development of economies.
“This exchange of experiences of our country with El Salvador will promote actions that contribute to improving the practices to carry out a mining activity that meets standards that preserve biodiversity,” Santos said in a press release.
He detailed that they will create work groups for the formulation of a plan of activities to be executed to ensure compliance with the proposed terms.
Scope of the agreement
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 hydrocarbonsas well as holding workshops for the formulation of proposals for documents associated with the management of permits and authorizations relevant to the exploratory process of hydrocarbons.
In addition, it contemplates transferring knowledge, experiences and good practices between both nations on the development of strategic environmental and social impact assessments, as well as generating and promoting strategic synergies, to create opportunities for support and development in the area of geothermal energy.
The countries They committed to developing and implementing specific programs and work plans as part of the cooperation agreement and accompanying its implementation.
