A high-ranking US official stated on 2026-04-12 that Washington seeks for any future elected Venezuelan administration to inherit a stabilized economy capable of sustaining its own operations. ^[1] The Trump administration announced a deal granting US-backed North American Blue Energy Partners majority control over 65 billion barrels of Venezuela's oil reserves. ^[2] The White House released a fact sheet outlining an arrangement where private oil firm North American Blue Energy Partners (NABEP) receives a 100-year lease for 17 oilfields in Venezuela holding approximately 65 billion barrels of oil reserves. ^[3] Under the agreement, the U.S. will take a 35% equity stake in the corporate parent company, receive a guaranteed 20% of the oil production, and hold a right-of-first-refusal to purchase all remaining output. ^[4] A high-ranking US official speaking under conditions of anonymity stated on 2026-04-12 that the oil agreement closed with the interim Venezuelan government led by Delcy Rodriguez is a necessary and prior step for holding future democratic elections in Venezuela. ^[5] The agreement grants US companies access to a significant portion of Venezuela's oil reserves, equivalent to nearly one-fifth of the country's total reserves. ^[6] The US official argued that an election held immediately would not solve Venezuela's institutional difficulties on its own and that the electoral system requires modifications. ^[7] The US official explained that the new oil agreement will allow revenues from oil activity to be directed toward the recovery and modernization of the Venezuelan energy industry. ^[8] A US official said during a conference call on Tuesday that the agreement allows the new government to inherit revenue that can be used to rebuild the country. ^[9] According to a White House factsheet released on Monday, the agreement granted North American Blue Energy Partners 100-year rights over 17 oil fields. ^[10] US officials stated that the agreement would create a stable economic platform to restore Venezuelan democracy after nearly three decades of autocratic rule. ^[11] ExxonMobil and ConocoPhillips left Venezuela in 2007 after their assets were nationalized by the government of former President Hugo Chavez and have repeatedly stated their requirements for legal certainty and contract sanctity have not yet been met. ^[12]