HOUSTON, March 12, 2025 (BSS/AFP) - Guyanese President Irfaan Ali said Tuesday he is seeking a peaceful resolution with Caracas over the disputed oil-rich Essequibo border region and called on his Venezuelan counterpart Nicolas Maduro to honor an expected ruling from the UN's highest court.

Simmering tensions over Essequibo, which each of the neighbors claims as its own, were further inflamed earlier this month, when Guyana denounced what it said was an incursion of a Venezuelan vessel in its waters.

The Venezuelan Armed Forces denied that an incursion took place and Maduro requested a meeting with Ali.

"We are a country that believes in peace," Ali said in Houston, Texas, where he was attending the CERAWeek energy conference. "We will do everything to ensure that our zone (maintains) peace."

He added that Guyana is expecting a ruling on the matter from the International Court of Justice.

"We are awaiting the ruling of the ICJ, and all we're asking to do is to respect the outcome of the ICJ, respect the rule of law."

English-speaking Guyana, long one of the poorest countries in Latin America, has seen heightened tensions with Venezuela over control of the disputed Essequibo territory, a sprawling region rich in natural resources.

Tensions have flared since 2015, after petroleum giant ExxonMobil discovered enormous deposits that gave Guyana, a country of just 800,000 people with a tiny military, the largest crude oil reserves in the world.

The government in Georgetown granted a new contract in April 2024 to ExxonMobil, further heightening tensions.

Georgetown recently requested protective measures from the ICJ in response to Venezuela's call for elections in Essequibo. Venezuela, however, does not recognize ICJ's jurisdiction in the matter.

At the conference, Ali also encouraged investment in his country.

"I just want to say to all the CEOs and investors here that our story in Guyana is much larger than oil and gas," Ail said. "Oil and gas is a catalyst for many other opportunities to develop in the country. I want you to put Guyana on your radar."