A proposed U.S. effort to extract and develop Venezuela’s large oil resources would involve collaboration with Alejandro Betancourt López, a prominent Venezuelan businessman whose family controls North America Blue Energy Partners, the country’s second-largest private oil company.

Four people familiar with the discussions told Sina Finance that the United States intends to back the project through the Pentagon’s Office of Strategic Capital, with Betancourt López’s firm expected to lead operations spanning a substantial portion of Venezuela’s proven oil reserves. The plan includes 17 oil fields.

Venezuelan President Delcy Rodríguez reportedly endorsed the agreement, saying it could contribute to the country’s revival and potentially generate more than $200 billion in tax revenue.

Trump was quoted as saying the deal would give the United States majority control over a large share of Venezuela’s oil reserves.

Details remained unclear by Saturday afternoon, and changes were expected as the project progresses.