After the referendum, Venezuela will declare the Essequibo territory of Guyana as the 24th state. President Nicolas Maduro has invited oil companies operating in the oil-rich region to cease operations and begin negotiations.
At the Assembly of the Government of Venezuela with the participation of the Council of State and the Council of Defense, President Nicolas Maduro submitted to the National Assembly a bill creating the 24th state of the country, Guyana Essequibo. This was reported by the publication Ultimas Noticias.
The decision to annex the disputed territory in Guyana was made at a consultative referendum in Venezuela over the weekend. Nicolas Maduro said that a good law is needed to protect the annexed territory.
The Essequibo dispute dates back more than 100 years and has intensified in recent years following the discovery of huge oil reserves in Guyana's disputed offshore sector, which are being exploited by international companies led by ExxonMobil. Reserves are estimated at 10 billion barrels.
At the meeting, President Nicolas Maduro invited oil companies working in the disputed area to stop work within three months.
“And we are open to negotiations. Only in a good way. With respect for international law, with respect for laws, with respect for good neighborliness,” said Nicolas Maduro. He ordered the creation of PDVSA Essequibo and CVG Essequibo, which will be responsible for issuing licenses for the exploration and production of gas, oil and minerals.
The day before, the UN International Criminal Court ruled that Venezuela must refrain from any actions that would call into question Guyana's control over the Essequibo territory. Guyana itself stated that it would appeal to the UN Security Council and the International Court of Justice.
“Unfortunately, President Maduro has chosen the path of ignoring the ruling of the International Court. “This speaks volumes about how President Maduro chooses to operate and also points to the fact that he is not concerned about peace and security in the region,” Guyanese President Irfaan Ali told The Miami Herald.
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