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Venezuela ANNEXES about 70% of Neighboring Guyana - Grabs Oil and Mineral-rich area | The President of Venezuela, Nicolás Maduro announced Tuesday night that the Esequiba Region of Western Guyana is now “Officially” a Territory of Venezuela, with a State Map being Released and Oil Expeditions said to be in the Planning Stages. With this declaration, Venezuela has grabbed about seventy percent (70%) of the country of Guyana. The Guayana Esequiba is a region of about 159,500 km2 (61,600 sq mi) west of the Essequibo River that is currently administered and controlled by Guyana, but claimed by Venezuela as part of its territory. The dispute dates back to the colonial era, when Spain and the Netherlands competed for the control of the area.