Chevron is close to a deal to expand its longstanding operations in Venezuela, potentially adding two new heavy-oil fields to its portfolio in the Latin American country. It currently has three joint ventures with PdVSA and is the only big U.S. company active in Venezuela. Halliburton, one of the largest U.S. oil-field-services firms, is also in talks to bring its suite of equipment to oil producers in Venezuela.

The developments position President Trump for a win after months of slow negotiations, according to people familiar with the matter. Chevron and other U.S. energy companies are nearing deals to invest billions of dollars in Venezuela’s oil fields.