(Bloomberg) -- The border dispute between Venezuela and Guyana is unlikely to escalate into a military conflict despite the growing hostile rhetoric between the South American nations, according to Chevron Corp.’s top executive.

“These things are much more often resolved through discussion, negotiation and compromise” than military action, Chief Executive Officer Mike Wirth said Monday in a discussion hosted by the Council on Foreign Relations in Washington. Still, Wirth said Chevron was taking the situation “seriously” and was monitoring it closely. 

Read More: Guyana Says Oil Producers Move Ahead Despite Venezuela’s Threats

Chevron is the only US oil major to have operations in Venezuela. The company recently agreed to buy Hess Corp. for $53 billion, which would give it a 30% stake in Guyana’s offshore oil development.

Chevron has “real experience” with operations in disputed territories around the world, such as the partitioned zone between Saudi Arabia and Kuwait, Wirth said. The company encourages peaceful resolutions but recognizes that can take years to accomplish, he added. 

(Updates with further CEO comments in fourth paragraph.)

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