By The Rio Times | Created at 2025-03-03 11:10:05 | Updated at 2025-03-03 20:51:06
10 hours ago
On March 1, 2025, Venezuelan naval forces conducted patrols in contested waters near Guyana, reigniting tensions over the long-standing Essequibo territorial dispute.
Guyanese President Irfaan Ali denounced the incursion, accusing Venezuela of violating Guyana’s exclusive economic zone (EEZ). The incident occurred near ExxonMobil-operated oil facilities, including the Prosperity FPSO platform, located approximately 190 kilometers off Guyana’s coast.
Venezuela’s National Bolivarian Armed Forces (FANB) defended their actions, claiming the patrols were part of Operation “General Domingo Antonio Sifontes,” aimed at protecting Venezuela’s maritime front. The FANB reported detecting 28 foreign vessels engaged in oil exploration and production in the disputed area.
According to Venezuela, these activities, authorized by Guyana and involving multinational corporations like ExxonMobil, violate international law and undermine the Geneva Agreement of 1966, which governs the resolution of the territorial conflict.
The Essequibo region, spanning 159,500 square kilometers and rich in natural resources, has been at the center of a century-old dispute. Venezuela claims historical ownership of the territory, rejecting an 1899 arbitral ruling that awarded it to British Guiana (now Guyana).
Venezuelan Military Patrols Spark Renewed Tensions with Guyana Amid Oil Dispute. (Photo Internet reproduction)The stakes escalated dramatically after ExxonMobil discovered over 11 billion barrels of recoverable oil in Guyana’s Stabroek Block in 2015. This transformed Guyana into one of the world’s fastest-growing oil producers but also intensified Venezuelan claims.
Guyana and Venezuela’s Territorial Dispute
Guyana has sought international support to counter Venezuela’s actions. The United States and organizations like CARICOM condemned Venezuela’s naval maneuvers as threats to regional stability.
Meanwhile, Venezuela criticized these responses as biased and accused foreign powers of exploiting the dispute for economic gain. The conflict also highlights broader geopolitical dynamics. For Venezuela, control over Essequibo could provide an economic lifeline amid sanctions and financial crises.
For Guyana, losing this territory would jeopardize critical oil revenues driving its rapid economic growth. The International Court of Justice (ICJ) is currently reviewing the case, with a binding decision expected in 2026.
As both nations remain entrenched in their positions, the dispute underscores how resource wealth can exacerbate territorial conflicts. With billions of dollars in oil revenues at stake and regional stability hanging in the balance, the Essequibo issue remains a flashpoint for South America.
