Venezuela, Guyana resume hearings over disputed, oil-rich Essequibo

by · UPI

May 4 (UPI) -- Venezuela and Guyana resumed their long-running territorial dispute over the oil-rich Essequibo region with public hearings at the International Court of Justice in The Hague on Monday, marking a key phase in a case filed by Guyana in 2018.

Guyana seeks to uphold the 1899 Arbitral Award, which established the current border. Venezuela rejects the ruling as invalid and argues the matter should be resolved through bilateral negotiations under the 1966 Geneva Agreement.

Guyana's foreign minister, Hugh Hilton Todd, described the case as of "existential importance," saying Venezuela's claim affects more than 70% of his country's sovereign territory.

Local media, including the Guyana Chronicle and Stabroek News, have warned that losing Essequibo would "dismember" the nation, costing land, population and national heritage.

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Venezuela's delegation, led by Foreign Minister Yván Gil, is attending the hearings to "present its historical truth," according to a statement posted on X. The government reiterated that it does not recognize the court's jurisdiction over the dispute.

Caracas maintains that while it will participate in proceedings, the Geneva Agreement remains in force and requires both countries to resolve the dispute through mutually agreed negotiations.

The Essequibo region, covering about 62 square miles, has gained global strategic importance due to vast natural resources. The offshore Stabroek Block alone is estimated to hold more than 11 billion barrels of oil, helping drive Guyana's rapid economic growth.

Beyond oil and natural gas, the territory contains deposits of gold, diamonds and bauxite, as well as critical biodiversity within the Guiana Shield.

In 2023, Venezuela held a referendum aimed at reinforcing its domestic and international position on creating a new Venezuelan state called "Guayana Esequiba."

The referendum triggered strong international concern and heightened tensions with Guyana, which denounced the process as an attempt at unilateral annexation and a direct threat to regional peace amid ongoing legal proceedings in The Hague.

After the capture of President Nicolás Maduro in a U.S. military operation in January, the interim government led by Delcy Rodríguez has maintained Venezuela's longstanding territorial claim.

Rodríguez, who previously oversaw the case before the court, has used nationalist imagery, including maps depicting Venezuela with Essequibo, during public appearances. Guyana has filed formal complaints over those displays.

Under the court's schedule, Guyana was to present its arguments for six hours Monday before the panel of 15 judges. Venezuela is to respond Wednesday. Guyana will present again Friday, with Venezuela to deliver closing arguments May 11.