Essequibo: Guyana refuses to negotiate with Caracas

On 11 January, the President of Guyana, Irfaan Ali, reaffirmed that he would not engage in any direct negotiation with Venezuela regarding the disputed region of Essequibo, stressing that the dispute must be settled by the International Court of Justice.

Essequibo is an area rich in hydrocarbons. Long claimed by Caracas, the territory has become a strategic stake following significant offshore oil discoveries.

Keeping this exclusively legal framework creates a level of uncertainty for investors and energy operators, who must factor this volatility into their investment decisions (project launches, adjustments or suspensions based on country risk). The absence of a bilateral agreement reinforces legal constraints and encourages caution among the actors concerned.

In parallel, France has consolidated its presence on the Guianas Plateau with the opening of an embassy in Georgetown, signalling a desire to strengthen bilateral cooperation around regional stability in terms of security and infrastructure.

A key signal for operators exposed to the extractive sector, in an environment where legal certainty remains decisive for strategic planning.