The U.S. administration is negotiating with the Venezuelan government to obtain a stake in the country’s national oil reserves. According to sources cited by Axios, U.S. authorities are interested in more than a dozen fields with proven reserves of 90 billion barrels. One U.S. official described the potential deal as “gigantic.”

The discussions involve Secretary of State Marco Rubio, Venezuela’s authorized representative Delcy Rodríguez, and White House Deputy Chief of Staff Stephen Miller. In July, representatives of the State Department and the Pentagon visited Venezuela to work out the details of the deal. U.S. Energy Secretary Chris Wright is scheduled to visit Caracas next week.

The list of assets to be transferred to the United States includes both undeveloped blocks in the Orinoco River basin and producing fields on Lake Maracaibo, some of which are currently being developed by a small Chinese company, Reuters sources said.

The legal structure of the deal is expected to involve a long-term lease, while the distribution of fields among U.S. producers is planned through auctions or tenders. In exchange, Caracas would gain access to private investment and increased revenues from oil sales.

Against this backdrop, Venezuela is considering leaving OPEC, of which it has been a member since 1960, Bloomberg reports. The country has not complied with quotas for many years. Freed from restrictions, it would be able to increase production at will, which could lead to excess supply and lower global oil prices in the long term.