Clyde and Company, an internationally renowned law firm headquartered in the United Kingdom, states that Venezuelan President, Nicholas Maduro, has been investigating a decision to abandon the territorial controversy it has with Guyana. This probe it said, started in 2019.
The law firm made this known in a report that was commissioned by government last year September and published January, 30, 2020. Specifically, Clyde and Company said it was instructed by the Ministry of Natural Resources to conduct an independent investigation into the decision making processes and systems and, in particular, the circumstances leading to the signing by the Government of the 2016 Agreement it has with ExxonMobil for the Stabroek Block and to report on the findings of such investigation by way of the report.
The law firm has a special section in the report which is dedicated to the territorial controversy with Venezuela. It said that in 2004, during a visit to Guyana by the former Venezuelan president Hugo Chavez, Chavez stated that the Venezuelan government will not be an obstacle for any project to be conducted in the Essequibo. In the same year, Chavez agreed with the former Guyanese president, Bharrat Jagdeo, to set aside Venezuela’s claim to the Essequibo territory in exchange for diplomatic support from international organizations such as the Organization of American States and the United Nations.
Nevertheless, in 2013, Clyde and Company noted that the Venezuelan navy seized an oil exploration vessel operating in waters claimed as Exclusive Economic Zones by both Venezuela and Guyana. Crucially, when in May 2015 ExxonMobil announced that it had struck oil, Venezuela issued a presidential decree which stated that Guyana’s maritime area fell within its national waters.
Clyde and Company said this in turn caused the Government of Guyana to summon the Venezuelan ambassador for further explanation. The law firm also noted that the tensions between the two countries continued in 2015 and was ultimately submitted to the International Court of Justice.
It was keen to note however that in 2019, the Venezuelan President, Nicolas Maduro began an investigation into the decision to abandon the territorial controversy.
