Guyana not shutting down bid round; “This is our sovereign territory” says Vice President

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Venezuela’s recent remarks and threats over Guyana’s offshore bid round will have no impact on its conclusion said the country’s Vice President, Dr. Bharrat Jagdeo. 

“They have done so for [almost] every major event when we have tried to utilise the economic resources of our country, both on land and in our exclusive economic zones. So, it was not surprising that they would issue such a statement,” he told a news conference on Sept. 21. 

Guyana remains unmoved. 

The country received the backings of the Organisation of American States (OAS) and the United Stated (US) government and others that condemned Venezuela’s aggressive posture. 

The Maduro-led government also issued a direct threat to the oil companies that participated in Guyana’s bid round. But this does not impact the process. 

Jagdeo emphasized, “This is our sovereign Guyanese territory, and the 14 blocks are all in our exclusive economic zone.” 

Guyana says Venezuela’s latest overture puts peace in the region at risk | OilNOW

The Venezuelan government had criticised Guyana’s decision to hold a licensing round for offshore oil blocks in areas Venezuela covets. Accusing Guyana of violating international law, Venezuela warned against any “illegitimate exploitation” and promised to “apply all necessary measures” against companies taking part in the bid. 

If there’s one problem Guyana’s political rivals agree on, it’s Venezuela | OilNOW

Even as its behaviour has driven investors away from its own jurisdiction, the Venezuela government’s statements threaten to undermine Guyana’s bid round by preventing investors from taking root there.

Guyana has firmly refuted Venezuela’s claims. Dr. Mohamed Irfaan Ali, the President of Guyana, has emphasized that Guyana has the exclusive right to exploit resources in its waters.

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