The White House announced that the agreement, implemented through the private oil company North American Blue Energy Partners (NABEP), grants the U.S. government a 35% equity stake in NABEP's parent company. The U.S. will also have the right to purchase 20% of its output at production cost and a right of first refusal for the remaining 80%. NABEP has secured a 100-year concession for 17 oil fields in Venezuela, with plans to invest up to $100 billion in new oil infrastructure and an estimated $200 billion in royalties and taxes over the first 25 years. This initiative aims to secure U.S. energy dominance, promote Venezuela's economic recovery, and displace Russian and Chinese companies' control in Venezuela.