The Trump administration is in talks with Venezuela’s interim government about acquiring a stake in the country’s oil resources, Axios reported on Thursday, citing two US officials.

A deal is still being worked out, with discussions focused on more than a dozen productive oil fields owned by former Venezuelan insiders, as well as interests previously controlled by China.

Under the proposed arrangement, private companies, including American firms, would develop the fields in exchange for a US ownership stake that Axios said would more than double the country’s oil reserves. Revenue from production would go to the Venezuelan government.

Reuters could not immediately verify the report. The White House did not respond to a request for comment.

(Reuters, est)