The United States and Venezuela have announced a major agreement to develop 17 oil fields containing an estimated 65 billion barrels of proven reserves, marking a significant expansion of bilateral energy cooperation.
US President Donald Trump said the agreement secures majority US control of the joint venture through a public-private partnership, while Venezuelan Interim President Delcy Rodríguez described it as a milestone that will support economic recovery and infrastructure investment.
Key developments:
- The project includes more than $100 billion in planned investment to increase oil production.
- Venezuelan authorities said the agreement could generate over $209 billion in tax revenue for the state.
- Both governments said the initiative aims to strengthen US-Venezuela relations and enhance regional energy security.
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