Acting President Delcy Rodriguez confirmed on Saturday that Venezuela has signed 61 oil agreements with the United States, estimating total investment at nearly $76 billion over the next five years. The package includes a bilateral accord to drill 250 rigs across 17 oilfields, marking a significant opening of the country's energy sector to foreign capital following the removal of President Nicolas Maduro in January.
The financial injection targets a sector that has suffered from decades of underinvestment and sanctions. Rodriguez highlighted tangible progress in the western state of Zulia, where crude output has jumped from 70,000 barrels per day to 370,000 bpd. She projects this figure will hit 400,000 bpd by year's end, a recovery that she attributes directly to the new partnership.
Trump's administration has backed this pivot, viewing the stabilization of Venezuelan oil supplies as a strategic win. The agreements are framed as a "win-win," with Rodriguez asserting that the massive capital inflow will translate into direct economic benefits for both nations.
While Rodriguez touted the energy boom, the political transition remains turbulent. Maduro, 63, and his wife Cilia Flores, 70, appeared in a US court earlier this week to face an expanded indictment. The new charges, filed last Thursday, accuse the couple of conspiring to torture political opponents, allegations their lawyers deny. The former president and his wife were captured in a January raid ordered by Trump and are currently held in New York.