Venezuelan President Nicolás Maduro, directed the country’s state-owned companies to “immediately” begin exploring and exploiting the oil, gas and mines in Guyana’s Essequibo region.

The territory said to be larger than Greece and rich in oil and minerals, is what Venezuela is claiming as it own.

The announcement on Tuesday, came a day after Maduro got the victory, he sought in a weekend referendum on whether to claim sovereignty over the region.

President Maduro said, he would immediately proceed to grant operating licenses for the exploration, and exploitation of oil, gas and mines in the entire area of Essequibo.

 He also ordered the creation of local subsidiaries of Venezuelan public companies, including oil giant PDVSA and mining conglomerate Corporación Venezolana De Guayana.

It is not clear, how the Maduro administration intends to implement the idea of exercising jurisdiction, over the territory once it’s officially declared part of Venezuela, through a law that is to be soon discussed by the National Assembly.

The National Assembly is controlled by the ruling party.

In addition, to the announcement regarding the exploitation of resources in Essequibo, Mr. Maduro announced Tuesday the creation of a new comprehensive defense operational zone, for the disputed strip, similar to the special military commands that conduct operations in different regions of the country.