The Dominican Republic has been granted a six-month period to demonstrate the presence of commercially viable oil reserves in the contested Berbice Block, a territory claimed by Guyana.
The timeline, reported by regional media outlets including The Rio Times and Dawn, marks a critical juncture in the ongoing maritime boundary dispute between the two nations.
The development carries significant weight for energy markets, as the Guiana Basin has emerged as one of the world’s most prolific new oil provinces.
Any confirmation of hydrocarbons in the disputed zone could alter supply expectations and complicate the operational plans of major operators like ExxonMobil, which has driven the basin’s recent production surge.
Conversely, a failure to find oil within the window may de-escalate tensions but also remove a potential supply wildcard from the market.
This move follows a series of diplomatic and legal maneuvers aimed at resolving the border conflict, which has seen Guyana seek international arbitration while the Dominican Republic maintains its claim based on historical treaties.