Maduro orders immediate exploration of oil, gas, and mines in Guyanas Essequibo – The Daily Guardia
Venezuelan President Nicolás Maduro has directed state-owned companies to explore and exploit oil, gas, and mines in the disputed Essequibo region of Guyana, according to recent reports. This announcement comes after Maduro’s victory in a referendum on claiming sovereignty over the region.
Maduro’s plan involves granting operating licenses to Venezuelan public companies, including PDVSA and Corporación Venezolana de Guayana, to exploit resources in the Essequibo area. However, the implementation of this plan remains uncertain as it is dependent on a law that is yet to be discussed by the National Assembly.
In addition to this move, Maduro has also created a new Comprehensive Defense Operational Zone (Zodi) for the disputed strip. This is similar to the special military commands present in other regions of Venezuela.
The Essequibo region, measuring approximately 61,600 square miles, accounts for two-thirds of Guyana. However, it has been a subject of territorial dispute between Venezuela and Guyana. Venezuela claims the area based on historical boundaries during the Spanish colonial period.
The dispute over the Essequibo region has seen fluctuations over the years, but it escalated when ExxonMobil discovered oil in the area in 2015. This raised Venezuela’s interest in the region and its potential resources.
Guyana has strongly denounced Venezuela’s actions and the results of the recent referendum, viewing it as an attempt to annex their land. In response to the situation, Guyana has appealed to the International Court of Justice (ICJ). The ICJ has ordered Venezuela not to take any further action on the disputed territory until the court rules on the competing claims.
The outcome of the territorial dispute and the exploitation of resources in the Essequibo region remain uncertain as further legal proceedings unfold. Both countries are awaiting a resolution from the ICJ to determine the rightful ownership of the area.
