Page 9 - LatAmOil Week 37 2021

LatAmOil GUYANA LatAmOil

Venezuelan territorial claim draws sharp

response from Guyanese government

THE government of Guyana has raised strong in this regard and our continued support of a
objections to Venezuela’s restatement of its claim national approach to safeguarding Guyana’s sov-
to territory that includes Stabroek, an offshore ereignty,” the party said in a separate statement.
block that contains at least 9bn barrels of oil Both the Venezuelan government and the
equivalent (boe) in recoverable reserves. opposition stated during the talks in Mexico
In a statement published last week, Guyana’s City that they did not believe the matter should
Ministry of Foreign Affairs and International be left to the ICJ. Instead, they urged George-
Co-operation protested against Venezuelan town to negotiate directly with Caracas.
officials’ announcement that both the govern- Venezuelan government officials travelled to
ment and opposition parties were united in Mexico City earlier this month to continue talks
their determination to assert Caracas’ rights to with opposition leaders on political, economic
about two-thirds of Guyana’s land area. If Ven- and social co-operation. The talks have yielded
ezuela were to gain control over this territory, some concrete results, in that opposition parties
which it calls Guayana Esequiba, it would have have said they will participate in the elections
dominion over the offshore oilfields discovered scheduled for November 21, but they have not
at Stabroek. succeeded in convincing the US to lift sanctions
The agreement between Venezuela’s govern- on Venezuela’s lucrative oil industry. ™
ment and opposition “is an overt threat to the
sovereignty and territorial integrity of Guyana,”
the ministry said in its statement.
“Guyana cannot be used as an altar of sacri-
fice for settlement of Venezuela’s internal politi-
cal differences,” it added.
It also indicated that Georgetown would con-
tinue to seek a settlement through the Interna-
tional Court of Justice (ICJ). “The controversy
between Guyana and Venezuela is properly
before the International Court of Justice and
will remain there for peaceful resolution,” it said.
Guyana’s main opposition party APNU/AFC
came out strongly in support of the government,
saying it also favoured plans to work with the
ICJ. “We reiterate our faith in the rule of inter-
national law in pursuit of a peaceful settlement Venezuela has laid claim to territory that includes Stabroek (Image: ONSA)

Hess CEO says Pinktail may be part of

sixth development project at Stabroek

EXXONMOBIL Guyana, a subsidiary of coupled with Whiptail, a discovery announced
US-based ExxonMobil, may include its latest earlier this year ... to be the sixth development.”
find in Guyana’s offshore zone in its sixth devel- Hess drew attention to the high quality of the
opment project at the Stabroek block. oil-bearing sandstone reservoir encountered in
According to the head of Hess, the US inde- the Pinktail-1 well, saying he expected the new
pendent that holds a minority stake in Stabroek, field to “have good economics.”
the newly discovered Pinktail oilfield may be He went on to describe the new discovery
developed together with a nearby site. John Hess, as “very, very important in terms of going up
the CEO of the company, said during a recent the value queue in terms of what our next set of
webcast that Pinktail “has the potential to be developments are.”

Week 37 16•September•2021 www. NEWSBASE .com P9