There are new reports today that the Exxon Mobil Oil company intends to assist Guyana financially in its efforts to have a judicial settlement of the border controversy with Venezuela.
Senior Government sources have reported that the exxon company has reportedly set aside just under US$20 million to assist Guyana with legal fees and other costs that could be incurred once Guyana moves to have the judicial settlement of the border controversy.
The source explained that there may have been no signing bonus with Exxon, but rather the money was made available to assist with the Venezuelan case.
“Our national sovereignty is riding on this issue and it will be remiss of us if we are not prepared and all resources are not put in place. The actual amount is more than $15M but less than $20M. This is not the first time we are going this route as it was done with the CGX Energy and Suriname after the June 2000 incident with the Surinamese coastguard. The PPP was then in office. This is nothing new. This is not a signing bonus, but rather we are garnering the resources to prepare for the case. This is a sovereignty issue,” the source said.
A few years ago when Guyana moved to seek redress to the other maritime border controversy with Suriname, another oil company offered assistance.
Guyana is now paying close attention to the United Nations and any recommendations it will make.
The UN had promised there was no progress with the Good Officer’s process by the end of this year, it would be recommending that the issue be referred to the International Court.
The Government of Guyana believes the international court might be the best move.