US-Venezuela Oil Deal: NABEP Secures Century-Long Access to 17 Fields

A deal between the US and Venezuela has been finalized, giving North American Blue Energy Partners (NABEP) access to 17 oil fields for a century. The deal is expected to require $100 billion in capital investment and will give the Department of Defense's Office of Strategic Capital a 35% equity stake in the joint venture.

NABEP is the second-largest private Venezuelan oil producer, with the granted fields holding around 65 billion barrels of proven reserves. The State Department will have the right to purchase 20% of the oil at cost and the right of first refusal for the remaining 80%.

US President Donald Trump hailed the deal as 'the biggest oil deal, by far, in World history!' but acknowledged it may take years before it makes a difference in US energy supply. The Energy Secretary Chris Wright said additional operators will need to be brought in to meet the scale of the operation.

Analysts have raised concerns about the viability of this deal under future Venezuelan leadership, especially if public sentiment sours on the deal. Interim President Delcy Rodríguez said Venezuela retains ownership and sovereignty over its resources while using capital, technology, and operational capacity to leverage their recovery.