The United States is close to finalizing a major agreement to control oil fields in Venezuela

The U.S. government is negotiating with Venezuela's interim government to acquire an ownership stake in key oil fields, according to an exclusive Axios report.

The initiative is shaping up to be a large-scale geopolitical move aimed at strengthening the country's energy sovereignty and supplying the market amid international instability.

If finalized, the agreement would provide direct access to strategic oil fields that hold nearly 90,000 million barrels in proven reserves.

A decisive boost to strategic reserves

The plan covers more than a dozen production areas previously dominated by interests linked to figures from the former regime and Chinese capital.

The operation addresses the historically low levels of the U.S. Strategic Petroleum Reserve, exacerbated by global supply disruptions stemming from the conflicts in Iran and Ukraine.

"To describe this agreement as enormous would be an underestimation. It's massive," an official speaking on condition of anonymity told Axios.

In exchange for the ownership stake, the regime in Caracas would benefit from investment by private companies, including U.S. firms, to revitalize productive infrastructure and generate more tax revenue for the South American nation.

High-level negotiations and sector restructuring

The high-level talks have been led by Secretary of State Marco Rubio, in coordination with Venezuela's acting president, Delcy Rodríguez, with key participation from White House Deputy Chief of Staff Stephen Miller.

In recent weeks, delegations from the Department of State and the Department of Defense held working meetings in Caracas to outline the project's technical aspects.

The Venezuelan energy industry suffered a prolonged decline following decades of socialist management initiated by Hugo Chávez and continued by Nicolás Maduro, who currently faces charges of narco-terrorism in New York.

With private capital and U.S. oversight, the plan aims to restore the oil fields' operational capacity.

Authorities expect Energy Secretary Chris Wright to visit Venezuela to define strategies to increase production through U.S. companies.