The Dominican Republic was not granted any special concessions in securing stake in Guyana's Berbice Block and exploration activities are expected to begin within the next four to six months, according to Natural Resources Minister Vickram Bharrat.
The DR, in May 2026, signed a contract for 10% stake in the Berbice Block that could see the Spanish-speaking nation exploring, developing and eventually producing oil or natural gas
Speaking on the Starting Point podcast, Bharrat said the block formed part of Guyana's existing inventory of available acreage after it was relinquished by former licence holder CGX Energy.
He stressed that the acreage was not created specifically for the Dominican Republic, but was allocated following government-to-government negotiations permitted under Guyana's modern petroleum legislation.
Bharrat said the agreement provides for an initial two-year exploration period during which seismic studies and other technical work must commence quickly.
"We have given them a very short timeframe. Within four to six months we must see activities in the Berbice Block," the minister said.
The Berbice Block became available after CGX Energy surrendered both the Berbice and Demerara blocks to concentrate its financial and technical resources on the Corentyne Block, where it has pursued the Wei-1 and Kawa-1 discoveries.
The new agreement follows a Memorandum of Understanding signed between Guyana and the Dominican Republic in April 2025 aimed at deepening cooperation in the hydrocarbons sector, including exploration, refining, logistics, training and energy security. The production sharing agreement signed this year represents one of the first tangible outcomes of that bilateral partnership.
Bharrat explained that Guyana's Petroleum Activities Act 2023 allows government-to-government negotiations for petroleum acreage, replacing the old first-come, first-served approach under the 1986 legislation.
He said companies are now evaluated on their financial strength, technical capacity and international experience before agreements are awarded.
Beyond the exploration itself, the minister expects significant economic benefits for Region Six.
He said seismic work, drilling preparations and eventual exploration activities would create opportunities for transportation providers, housing, contractors, suppliers, logistics companies and other service businesses throughout Berbice.
"If exploration activities ramp up, it will generate employment directly and indirectly and create business opportunities for the region," Bharrat said.
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