Exxon continues to explore Guyanese oil despite Venezuela’s Complaint

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Exxon continues to explore Guyanese oil despite Venezuela’s Complaint

On Wednesday, the 26th of December, the Exxon was quoted saying that, their oil drilling as well as development offshore Guyana remained unaffected by the unexpected intervention of Venezuelan navy, as the Venezuelan navy confronted two oil exploring ships and turned them east earlier this week.

On the flipside, Venezuela lodged complaints that the Exxon oil exploring ships had been surfing on their water territory. On last Saturday, the 22nd of December, the Venezuelan navy had halted two Exxon oil exploring ship, who had been hired to explore the possible offshore oil on Guyanese water.

However, both of the South American countries had claimed that the occurrence took place on their water territory. The border dispute between Guyana and Venezuela had not been anything new, as these two countries had a decade long history of border dispute.

In fact, the issues had been deteriorating in the recent past, as Guyana had confirmed the location of a large off-shore oil field, which might make them the largest oil producer in South America. On the other hand, the Venezuelan oil production had been languishing, as an aftermath of daedal political dilemma.

In a recent statement, the Exxon officials mentioned that they had been continuing their operation despite Venezuela’s complaint over the issue. The Exxon had been quoted saying in a statement, “Exploration and development drilling is continuing in the southeast area of the Stabroek Block”, while the Venezuelan foreign ministry stated that they had sent a formal protest to Guyana’s government over its decision to allow exploration without consultation.