Chevron, the oil giant, is anticipated to announce imminently that it will broaden its operations in Venezuela, according to a U.S. official on Tuesday.

The official, who briefed reporters on the anticipated announcement, said that company representatives and Energy Secretary Chris Wright are expected to visit Venezuela on Wednesday, where the new investment will be formally presented.

The official spoke on condition of anonymity, following the ground rules set by the White House for the call.

Chevron stands as the second-largest U.S. oil company and the sole one maintaining a substantial foothold in Venezuela.

This development follows the White House’s confirmation on Monday of its collaboration with North American Blue Energy Partners, a move aligned with President Donald Trump’s initiative to exploit Venezuela’s petroleum sector.