U.S. oil company North American Blue Energy Partners (NABEP) will take over some Venezuelan oilfields previously run by Chinese and Russian firms, Reuters reported.
In an exclusive report, Reuters said the takeover is part of a sweeping oil production agreement American President Donald Trump recently announced with Venezuela. Days ago, Trump announced that the U.S. secured access to 64 billion barrels of Venezuela’s proven oil reserves through a partnership with private business.
NABEP is expected to control a total of 17 projects in Venezuela that it plans to develop and ultimately use to supply oil to the U.S. Fourteen of those projects will be newly granted by the Venezuelan government, the officials said to Reuters.
It was further noted that five of the 14 contracts have been operated by Chinese companies under a model promoted by then-President Nicolas Maduro, while one was previously operated by a Russian company, the officials said.
NABEP is an oil exploration and production company, previously owned by U.S. oil tycoon Harry Sargeant. It is now controlled by Venezuelan businessman Alejandro Betancourt.
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