The presidents of Argentina, Alberto Fernández, and the Dominican Republic, Luis Abinader, signed on Wednesday in Buenos Aires a declaration of cooperation for the development of hydrocarbons, including the possibility of joint projects in the colossal Vaca Muerta formation.
“These agreements are very important for our country”, said Abinader in a ceremony at the Casa Rosada, seat of the Argentine Executive.
The Dominican president said that the agreement signed on hydrocarbons is “of vital importance” for his country “in a very negative situation in terms of the price of hydrocarbons”.
Abinader said that his government is studying, together with the Argentine state-controlled oil company YPF and other companies in the sector, the possibility of importing liquid fuels.
“We are also going to evaluate the feasibility of exploring, in partnership with YPF, natural gas areas in Vaca Muerta, where there are many opportunities that I believe could be beneficial for both countries,” he said.
Vaca Muerta, with its epicenter in the Argentine province of Neuquén (southwest), is the world’s second largest unconventional gas reserve and the fourth largest oil reserve of this type, but its massive development is still in the early stages.
“Vaca Muerta still has a lot to develop and there are opportunities for us to work together,” said Fernández, who, prior to this event, held a meeting with Abinader and shared lunch with him and his entourage.
At the event, a “road map” for the implementation of a bilateral agreement on transplants was also signed.
“With respect to the transplant agreement, we started with the pediatric area, but we are going to extend it in general terms. We are going to receive the excellent Argentine doctors, who have made great progress in this area,” said Abinader.
A memorandum of understanding on sanitary and phytosanitary matters between the Ministries of Agriculture of the two countries and a technical cooperation agreement to improve wine production practices were also signed.
Abinader said that Argentina, which is an important world producer and exporter of wines, “is a great power in this sector” and “can help a lot in the development of the Dominican wine industry” “with the advice of Argentina’s excellent producers”.
Fernández highlighted the “common view” with Abinader on “the problems facing the world and the region” of Latin America and the Caribbean.
In addition to the agreements signed, both presidents discussed the possibility of cooperation in other areas.
Argentina offered cooperation in satellite development, with technology that could be applied to the prevention of events related to climate change.
In addition, they discussed the possibility of cooperation in nuclear medicine and the tourism sector.
“I am going to surprise President Fernandez with an agreement we are going to make. We receive thousands of Argentines every year and we are very happy. As part of these agreements, all the Argentines who visit us will have a free merengue class”, the Dominican president proposed, amidst applause.