Venezuelan interim President Delcy Rodriguez stated on Saturday that an energy pact with the United States will run for 25 years, seek to lift crude output to 1.5 million barrels per day, and maintain national control over natural resources.

Rodriguez praised the deal during a late address as a landmark accord that would support economic recovery and raise government revenue, noting it would help define the country's path ahead.

"This 25-year bilateral project covers the development of 17 key oilfields with a production goal exceeding 1.5 million barrels per day," Rodriguez said on state broadcaster VTV.

"That amount applies only to the bilateral agreement between Venezuela and the United States."

Rodriguez noted that the 1.5 million barrels per day target serves as a starting point and that the overall plan also covers eight new oil blocks as part of broader growth in the energy sector.

US Seeks Stake in Venezuelan Oil Reserves

US President Donald Trump announced on Friday plans for the United States to gain partial control of Venezuela's large oil reserves, wagering that American firms can help rebuild the South American country's struggling energy industry and supply additional crude to ease US fuel costs.

Trump offered limited details on the pact, stating only that the US had gained majority control of more than 65 billion barrels of Venezuela's proven oil reserves via a partnership with private business.

Venezuela holds the world's largest proven oil reserves yet produces only about 1.25 million barrels per day, well below capacity after years of limited investment, poor management and sanctions.

Rodriguez said the agreement could bring roughly $209 billion in revenue to the Venezuelan state at a benchmark price of $65 per barrel, while noting that prices may vary. She added that about $19 from each barrel produced and sold under the deal would go directly to Venezuela, offering a major lift to state income.

Venezuela Retains Control Over Resources

She emphasized that the country keeps ownership and sovereignty over its natural resources while using capital, technology and operational know-how to aid recovery of a key industry hit hard by sanctions.

Earlier on Saturday, groups supporting the government gathered in central Caracas to demonstrate against the US role in Venezuela.

Rodriguez welcomed the agreement after Trump's announcement, saying it would strengthen economic growth and raise government revenue.

Venezuelan officials are set to sign deals next week granting new oil exploration and production rights to several companies, including US firms.

Two sources close to the talks said on Friday that Chevron was among the companies expected to complete negotiations to move its Venezuelan joint ventures into the new energy framework.