Hi, it's Sabrie Beneschoor with Marketplace.

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make your year-end donation now at market.org. Giana and Venezuela decide to talk, not fight over an oil-rich region.

Hello, you're listening to the Marketplace Morning Report live from the BBC World Service.

I'm Leanna Byrne and a very good morning to you.

Guyana and Venezuela have agreed to not use force to settle their dispute over the oil-rich region of

Esquebo. They've been holding emergency talks after a referendum in

Venezuela suggested it could annex the region, and Venezuela's President

Maduro says, he would allow oil exploration there, but Guyana has already signed deals with oil and gas giants, ExxonMobil and Chevron.

Now, Esquebo is not a sliver of land, it's the size of Florida and makes up two-thirds of Guyana,

which was awarded the region by the International Tribunal in 1899. These residents in Esquebo told the BBC how they feel about it all.

Very scared about what could happen because we already know what happened in

Venezuela with Maduro. He already destroyed Venezuela. I have it in my mind that

Venezuela will not make a move towards Guyana at least not by force. We are a zone of peace as they say.

Ralph Gonsalves, the Prime Minister of St. Vincent and the Grenadines is the man who got the

leaders of Guyana and Venezuela to sit together.

The company is in Guyana exploring Venezuela to sit together? The companies in Guyana, exploring for oil, largely American.

If you have anything adverse to American lives or property, you can see where that would lead.

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