The Guyana Government has issued a formal response to a concerning communique released by the Government of the Bolivarian Republic of Venezuela which objected to the country’s maiden auction of its oil blocks, dubbed the 2022 Licensing Round.
The communique released yesterday not only expressed concerns over Guyana’s intention to auction certain oil blocks in the waters adjacent to its coast but it also contained a thinly veiled threat to take “all the necessary measures” to prevent operations licensed by Guyana in these disputed waters, which Venezuela claims as its own.
The government in a statement released yesterday, said it has not taken this matter lightly and views it as not only a threat to Guyana’s sovereignty but also as a potential risk to regional and international peace and security, along with the interests of its current and prospective investment partners.
At the heart of this escalating dispute is the delineation of maritime boundaries and the assertion of sovereignty over these waters. The government firmly asserted that, according to international law, the waters in question fall within its Exclusive Economic Zone (EEZ). Within this zone, Guyana enjoys sole sovereign rights over the resources within the sea and beneath the seabed.
The government also noted that in the event that Venezuela disputes this territorial delineation, both the United Nations Charter and the Charter of the Organization of American States (OAS) impose a clear obligation: the pursuit of peaceful means to seek resolution. It is imperative to note that these charters explicitly prohibit the threat or use of force against another sovereign state.
Therefore, the Government of Guyana has implored Venezuela to adhere to its international obligations and resolve any disputes through peaceful means. This includes the option of adjudication before the International Court of Justice (ICJ), where Guyana has already sought confirmation of the land boundary between the two nations. By allowing the ICJ to arbitrate any other disputes, both parties can ensure a peaceful, equitable, and internationally lawful resolution.
Guyana and Venezuela have been engaged in a border controversy for years, with Venezuela claiming to be the rightful holder of Guyana’s Essequibo territory.
The 2022 Licensing Round which was initiated in December 2022, attracted bids for eight out of the 14 blocks that were up for tender and it is expected that awards will be made before the end of the year.
