Opinion
- Editorial- Commentary
Sir
Ronald Sanders :
Guyana’s
9/20 raises hopes for oil wealth
On September 20, a Law of the Sea Arbitration Tribunal
unanimously decided on a maritime boundary between
Guyana and Suriname, neighbours on the South American
Atlantic coast and members of the Caribbean Community
and Common Market (Caricom).
In
the words of the Guyana President Bharat Jagdeo, “The
award is very favourable to Guyana.”
It is an award that is legally binding on both countries.
It resolves a disagreement that has been ongoing since
June 3, 2000 when Surinamese troops expelled a rig,
owned by the Canadian Oil company, CGX, from waters
whose ownership was disputed by the two countries.
The
tribunal found that Suriname’s action “constituted
a threat of the use of force in breach of the (Law
of the Sea) Convention, the UN Charter, and general
international law.”
Attempts to reach a neighbourly settlement failed
after a series of encounters which were stalemated.
Finally in February 2004, Guyana sought international
arbitration. But, Suriname argued that the tribunal
had no jurisdiction.
The tribunal disagreed and its award is the result
of proceedings in which both countries employed legal
luminaries and technical experts to vigorously argue
their case.
In
Guyana’s case, its team was led by Sir Shridath
Ramphal, former Commonwealth secretary general and
a former attorney general of Guyana.
It
would have been easy for the Guyana government to
claim a great victory and to show off over the judgment.
It didn’t. Indeed, President Jagdeo chose not
to speak of “winners or losers” saying
instead: “The great achievement of the award
is to open up before Guyana and Suriname the prospect
of practical harmonious cooperation in their economic
development and in their relations as good neighbours.”
The
Guyana government’s posture augured well
for peaceful and co-operative relations in the future
between the two neighbouring states and for the further
development of the Caribbean integration process under
Caricom.
Undoubtedly, there is disappointment in Suriname over
the award, but the government and the nation would
earn its own place in history by showing its respect
for international law in the peaceful settlement of
disputes.
The 163-page judgment accompanied by various maps
is an account of solid research and argument by both
sides. The last thing that could be said by anyone
with the stamina to read the judgment carefully is
that Suriname did not put up a strong fight.
The
tribunal said that the boundary it has established “for
the most part follows the equidistance line between
Guyana and Suriname. However, in the territorial sea,
the boundary follows a N10°E line from the starting
point to the three nautical mile limit, and then a
diagonal line, from the intersection of the N10°E
line and the three nautical mile limit, to the intersection
of the 12 nautical mile limit and the equidistance
line.”
Well what does that mean in practical terms?
For Guyana, it means that the companies it has licensed
to explore for oil can return to the areas in which
they were operating. Specifically, it allows the Canadian
company CGX to re-establish its rig and continue drilling
in an area where it is confident that there is a reservoir
of oil.
Guyana’s
economic fortunes can change by this 9/18: a date
that could live in the memories of Guyanese
for ever. Now, classified as a Highly Indebted Poor
Country by the International Monetary Fund and the
World Bank, an early find and exploitation of oil could
transform the economy of this country, which has always
been rich in natural resources, but plagued by politics
that has divided its two main ethnic groups: the descendants
of African slaves and Indian indentured labourers.
Nothing
will change tomorrow for Guyana or for its people.
They will wake up with the same difficulties
they now face which includes rising inflation, unemployment
and crime. But they will also wake up with a greater
expectation of a better future, and they will look
forward to enjoying the oil wealth of their neighbours
Venezuela and T&T.
Should oil be found and exploited in the commercial
quantities that have been rumoured for years, the Guyanese
people of all races will expect to see their standard
of living and quality of life improve significantly.
The Guyana government would do well to take this time
to study carefully the experiences of other countries
to ensure that oil wealth, if it comes, is managed
properly and transparently by agencies in which there
is broad based and professional representation.
People rightly expect to see revenues from oil spent
on improving health standards, the quality of education,
tackling poverty and creating jobs. And, by and large,
they will expect to see oil wealth distributed even
handedly amongst all races.
The
date 9/20 was, in the words of President Jagdeo, “a
good day for Guyana.” If oil wealth comes in
the future, good governance could give better days
for Guyanese and for other Caricom countries which
could benefit from an improved Guyana economy.
Sir
Ronald Sanders is a business executive and former
Caribbean diplomat
( ronaldsanders29@hotmail.com
).Petroleumworld
not necessarily share these views.
Editor's
Note: This article was first publish in The
Trinidad Guardian, Thursday 27th September, 2007
. Petroleumworld
reprint this article in the interest
of our readers.
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Petroleumworld
10/07/07
Copyright ©2006
Sir
Ronald Sanders.
All Rights Reserved.
