Difficult times are likely to come for the South American state of Guyana, as President Nicolas Maduro has announced his intention to annex the Essequibo region – an oil-rich area of Guyana – following a controversial referendum in neighboring Venezuela. A map he presented on Wednesday also shows that Maduro has serious intentions.
During a cabinet meeting, he proposed submitting a corresponding bill to the National Assembly. Maduro also ordered the state oil company to “immediately” issue permits for oil and gas production and mining in Essequibo.
More than 10.4 million Venezuelans took part in the non-binding referendum on Sunday. According to Venezuelan election authorities, 95 percent of voters supported Venezuela’s claim to Guyana’s Essequibo region, which is rich in oil and other resources.
Guyanese Attorney General Anil Nandlall said on Tuesday he would seek help from the UN Security Council if Venezuela took further steps after the referendum. His country had previously dismissed the referendum as an “existential” threat. Essequibo covers more than two-thirds of the land area of the former British colony. 125,000 of the 800,000 inhabitants live there.
China calls for moderation
Venezuela’s ally China called on the two countries to resolve the dispute. “China has always respected the sovereignty and territorial integrity of all countries,” Foreign Ministry spokesman Wang Wenbin said in Beijing on Wednesday. China has “always supported Venezuela and Guyana in properly resolving border issues.” This is also important for stability in the region.
Significant oil discoveries in the region
Venezuela has claimed the Essequibo region for more than a century. The desire especially increased after oil company ExxonMobil discovered an oil deposit in the area in 2015. In October this year, another major oil discovery was made in the region, increasing Guyana’s reserves to at least ten billion barrels – more than those of oil-rich Kuwait or the United Arab Emirates.
Source: Krone
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