The US government is seeking large benefits from Venezuela's oil reserves, and plans for the Department of Defense to cooperate with controversial energy investor Alejandro Betancur. Betancourt has now become a key intermediary between the US Commission and the two countries. According to people familiar with the matter, the negotiations covered as many as 17 oil fields in Venezuela's major oil basins. Some people familiar with the matter also said that the parties are discussing that the Pentagon Strategic Capital Office will be responsible for supervising the investment. One of the plans being negotiated is for the US to obtain a 100-year oil field lease.

The US government is seeking large benefits from Venezuela's oil reserves, and plans for the Department of Defense to cooperate with controversial energy investor Alejandro Betancur. Betancourt has now become a key intermediary between the US Commission and the two countries. According to people familiar with the matter, the negotiations covered as many as 17 oil fields in Venezuela's major oil basins. Some people familiar with the matter also said that the parties are discussing that the Pentagon Strategic Capital Office will be responsible for supervising the investment. One of the plans being negotiated is for the US to obtain a 100-year oil field lease.