Border dispute between Guyana and Venezuela before the International Court of Justice

The International Court of Justice in The Hague began hearings in the decades-long border dispute between Guyana and Venezuela over the Essequibo region.
Guyana’s Foreign Minister Hugh Hilton Todd called the dispute ’existential’ for his country.
The Essequibo region makes up two-thirds of Guyana’s territory and is rich in resources, including oil.
The dispute centers on whether the 1899 arbitration award on the border is legally binding.
Venezuela does not recognize the court’s jurisdiction but is participating in the hearings.
Major offshore oil discoveries have increased the economic importance of the region.