Guyana: ExxonMobil Continues Oil and Gas Exploration Amid Territorial Dispute With Venezuela

Guyana and Venezuela are still arguing over the Essequibo region, which is rich in oil and the latest escalation happened as a large US oil company, ExxonMobil, has recently started exploring the area for oil and gas.

ExxonMobil started its exploration for oil and gas just off the Essequibo region's coast. This was also where the Venezuelan military had previously expelled two companies, with the move expected to possibly escalate tensions between Venezuela and Guyana, which issued the license.

Many other countries recognize Essequibo as part of Guyana, not Venezuela, and so do people living in the region. Venezuela has long been claiming the area as its own, but it has recently restarted its claims after oil, gas, and other minerals were discovered there.

Guyana Foreign Affairs Secretary Robert Persaud spoke with the Associated Press and stated that the US oil giant has every right to work in that region "because it is within established Guyana waters in a fully demarcated area."

ExxonMobil admitted that it expects to drill two exploratory wells north and west of its prolific Stabroek block. In that area, there are three oil fields that are producing close to 650,000 barrels of oil a day.

ExxonMobil Guyana President Alistair Routledge addressed the ongoing tensions with Venezuela and stated, "We are not going anywhere," adding that it was the Guyanese government that granted its permit. He added that his company is committed to its operations in Guyana despite the territorial dispute against Venezuela.

The Venezuelan military has previously forced US companies to abandon exploration for oil and gas, with the latest happening in 2019 after a Venezuelan military helicopter forcefully landed in a seismic vessel.

US Looking To Boost Military Aid to Guyana Amid Venezuela Tensions

Meanwhile, the US itself is seeking to protect its oil interest in South America and has already pledged military support to Guyana. The country has promised to help the South American nation in buying new aircraft, helicopters, a fleet of military drones, and even radar technology, which Guyana sorely lacks.

El Pais noted that the details of the US-Guyana deal have not been immediately made clear, with Guyana officials declining to announce how much they are expected to pay the US.

However, US Deputy National Security Advisor, Jon Finer, and Western Hemisphere senior director Juan González, were revealed to have met with Guyanese officials about improving the country's defense capabilities as the possibility of a Venezuelan invasion looms.

Brazil Beefing Up Its Border With Guyana and Venezuela as Tensions Mount

Meanwhile, as tensions are rising between Venezuela and Guyana, their common neighbor, Brazil, which shares a border with both countries, is also beefing up its security forces along the border to prevent the possible conflict from spilling to its territory.

According to Dialogo Americas, dozens of military vehicles and military personnel were sent to Boa Vista, the capital of Roraima state that borders both Venezuela and Guyana. The deployment was done as a warning for both countries should conflict occur.

This article is owned by Latin Post.

Written by: Rick Martin

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