One day after the new “ONE GUYANA” oil production vessel sailed into Guyana’s waters to join the other three FPSOs operating in the Stabroek Block, the Venezuelan government has protested the arrival of the vessel in Guyana and the country’s ongoing development of its oil resources. The new vessel is expected to boost oil production by more than 250,000 barrels of oil per day, eventually taking the daily oil production level to 900,000 barrels.

In a statement today, Venezuela said it categorically rejects the arrival and the eventual operation of the FPSO in the Stabroek Block, stating that it is an “illegal action” that is taking place in an area that it continues to claim.

The oil vessels are all operating within Guyana’s waters. Venezuela continues with its claim of Guyana’s Essequibo and only recently faced international condemnation following an incursion by a Venezuelan Navy vessel in Guyana’s waters near the oil ships.

But according to the Venezuelan Government, “the maneuverer promoted by the Government of Guyana in alliance with ExxonMobil, constitute a violation of fundamental principles of international law, which oblige us to refrain from adopting unilateral measures in areas without agreed delamination. By persisting in this conduct, Guyana demonstrates open disregard for international law and for the commitments assumed in 2023 Argyle agreement recklessly putting the regional peace and stability at risk,” Caracas said.

Venezuela has repeatedly threatened Guyana’s territorial integrity with its claims of Guyana’s territory. It has also flouted an interim order of the International Court and the Argyle Agreement.

However, as Guyana continues to develop its oil resources, the Government of Venezuela is threatening legal action.

“Venezuela does not recognize any concession granted in this space and warns the companies involved that they be subject to legal action and they will not be recognized any rights over illegally exploited resources,” the Venezuelan government continued.

Venezuela said it remains committed to peace and will not accept provocation.

Guyana’s right to exploit resources offshore and in particular in the Essequibo region has been respected by all multinational agencies and the international community.

Guyana has also accused Venezuela of ongoing acts of provocation.

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