US Secures 100-Year Control Over 17 Venezuelan Oil Fields

The US-backed North American Blue Energy Partners (NABEP) has secured 100-year concessions to operate 17 Venezuelan oil fields, holding approximately 65 billion barrels of proven reserves. This deal grants NABEP access to a significant share of Venezuela's vast petroleum resources.

The agreement gives the US Department of War's Office of Strategic Capital a 35% equity stake in NABEP's corporate parent, potentially generating 'hundreds of billions' in value and dividends for the United States. This move is part of Washington's efforts to gain greater control over Venezuelan energy supplies.

NABEP plans to invest up to $100 billion in new oil infrastructure in Venezuela to expand production. In return, the company is expected to make about $200 billion in royalty and tax payments to Venezuelan governments during the first 25 years of the agreement.