An American company will gain control of oil fields in Venezuela.

The American firm North American Blue Energy Partners (NABEP) will assume control of 14 oil production agreements at Venezuelan fields previously operated by several Chinese companies and one Russian company.

Under the terms of the deal, the American company will exercise operational management, while the US government will receive a 35 percent stake in NABEP and priority access to 20 percent of the crude produced at cost. Earlier, US President Donald Trump announced the conclusion of "the largest oil deal in history" between Washington and Caracas.

According to US officials, the deal will give the US control over 65 billion barrels of Venezuelan oil fields. The agreement is expected to attract approximately $100 billion in private investment for Venezuela's economic recovery.

Venezuela is considering leaving OPEC, of which it has been a member since the organization's founding in 1960. This discussion is taking place against the backdrop of deepening cooperation between Caracas and Washington and negotiations on long-term access for American companies to Venezuelan oil fields.

About half of Venezuela's oil production is currently exported to the United States—more than 500,000 barrels per day, out of a total production volume of approximately 1.25 million barrels. Amid growing exports, Caracas is also entering into new agreements with American oil companies, hoping to attract investment and increase production.