Despite recent aggressive tactics by Venezuela, Guyana’s Vice President, Dr. Bharrat Jagdeo reiterated on Thursday that his country will not back down from developing resources within its maritime borders. He also confirmed that companies bidding on eight the 14 oil blocks have not voiced concerns over Venezuela’s latest moves.
Earlier this week, Venezuela formally rejected Guyana’s ongoing bidding round for oil blocks which have garnered offers from six consortiums of oil companies. Venezuela’s government labeled Guyana’s actions as “illegal.”
“The Bolivarian Republic of Venezuela reiterates that any illicit and arbitrary concession that Guyana grants, has granted or intends to grant in the areas in question is unacceptable and violates its sovereign rights,” said the Venezuelan government in an official statement. “These actions do not generate any type of rights for third parties to participate in this process.”
In response, Guyana’s President, Dr. Irfaan Ali, stressed his country’s right to economic development within its maritime borders. “The Government of Guyana reserves the right to pursue economic development activities in any portion of its sovereign or any appurtenant maritime territories,” he said. “Any unilateral attempt by Venezuela to restrict the exercise by Guyana of its sovereignty and sovereign rights will be wholly inconsistent with the Geneva Agreement and the rule of international law.”
Addressing the media on Thursday, Vice President Jagdeo said, “We have not heard from any of the bidders that they’re concerned about the statement and it’s not surprising that Venezuela would issue such a statement. They have done so almost for every major event when we have tried to utilize the economic resources of our country both on land and in our Exclusive Economic Zone.”
Jagdeo also noted that the stance of Venezuela had met with rejection not only from the Guyanese government but also from the Organization of American States and other key stakeholders.
Confirming that the auction process would proceed as planned, the chief policymaker for Guyana’s oil sector categorically stated that all 14 blocks under auction are within the country’s Exclusive Economic Zone (EEZ). He assured that the country will not back down in the face of spurious claims.
