International oil majors, Chevron and Shell, are nearing agreements to expand oil and gas production in Venezuela, marking the first major deals since the US capture of President Nicolás Maduro in January, five sources familiar with the negotiations said to Reuters.

The potential agreements are part of a broader plan backed by US President Donald Trump to rebuild Venezuela’s oil sector through an estimated $100 billion investment effort after years of underinvestment and mismanagement under Maduro and his predecessor, Hugo Chávez.

Under the proposed terms, Chevron would gain rights to produce in the Ayacucho 8 block located south of its Petropiar project in Venezuela’s heavy-oil belt. The block holds proven resources and could significantly increase Chevron’s extra-heavy crude production and exports. Venezuela’s state oil company PDVSA completed exploration and appraisal in Ayacucho nearly two decades ago, but the area remains largely undeveloped.

Sources said Chevron and PDVSA could extend the well-cluster production system used in Petropiar to Ayacucho 8, allowing output to ramp up relatively quickly. The development would become Chevron’s fifth oil area in Venezuela.

Separately, Shell signed preliminary oil and gas agreements during a recent visit to Caracas by US Interior Secretary Doug Burgum. According to a summary of the deals, Shell plans to develop the Carito and Pirital fields in the Monagas North region in eastern Venezuela, which produce light and medium crude and natural gas used to blend Venezuela’s heavy oil for export.

Shell confirmed it signed agreements with the Venezuelan government and engineering firms Vepica and KBR, as well as oil-services company Baker Hughes, covering offshore gas, onshore oil and gas, exploration, local content, and workforce development.