Big Oil has suddenly found itself staring down a new rival in Venezuela: Bigger Oil.

The Trump administration is painting its foray into the Latin American country's oil patch as about more than drilling. Investing in a little-known private operator will give the U.S. the chance, officials argue, to police the corruption that has long troubled the industry there.

American oil executives say that plan sounds like trouble.

Industry leaders and lobbyists from Houston and Midland, Texas, to Washington say they were blindsided by President Trump's brazen push into Venezuela, which is home to some of the world's largest proven oil reserves. Many say they are skeptical the deal can survive future governments in either country because it is unpopular among Democrats in the U.S. and Venezuela's democratic opposition alike.

One Midland executive said it appeared the Trump administration, in a last-ditch effort to cut gasoline prices before November's midterm elections, is turning to socialist-like methods of taking over oil production.

"No one wants to go down there and take over a mess and then get blamed for the mess," said Shad Frazier, a consultant and former oil executive at Apache in Houston. "The worry is, when you have a change in U.S. administration in two years, what happens then? No one likes to invest into chaos."

The U.S. oil industry has long opposed government intervention in the fossil-fuel business-and some executives are worried Trump's first venture into state capitalism in the industry could create a giant with the ability to push them around.

"This government seems to believe...to really shape markets, you need to discipline the companies, and what better way to discipline companies than having a direct stake in them?" said Heiko Borchert, head of advisory services at the Economic Security Forum in Helsinki.

North American Blue Energy Partners, which under Trump's move now has the backing of the U.S. and control of one-fifth of Venezuela's oil reserves, is poised to become a rival to Chevron, the only big U.S. company active in the country. Led by Venezuelan businessman Alejandro Betancourt, the private company is already planning a drilling push over the next few years, an imposing prospect for other oil companies looking to enter the country.

In an interview with a Venezuelan journalist this week, Secretary of State Marco Rubio portrayed the arrangement with the company as a way to impose new guardrails on Venezuela's corruption-plagued oil sector.

"This is going to become a professionalized operation, with the relevant jurisdiction and laws applying to it, so that the money is never used improperly or in a way that is inappropriate," Rubio said in the interview.

Using U.S.-backed audits and financial controls would prevent the patronage system of the Venezuela's Chavista era, Rubio argued.

Earlier this week, a U.S. official offered a starker view: The administration doesn't want Venezuela's oil fields to become "a piggybank for corrupt elements that can just go in and take the profits that it's making and put it in their pockets."

Yet for the titans of American energy, the prospect of a state-backed company with a virtual monopoly over 65 billion barrels of Venezuela's proven reserves injects new uncertainty into the possibility of investing there.

Many championed Trump's second bid for the White House on the hope that the president would unbridle the industry. His lieutenants rolled back environmental regulations and promised permitting reform. Until now, the U.S. hadn't taken a direct stake in the oil industry as it has in the technology, metals and manufacturing sectors, where it often takes an activist role.

After the U.S. captured strongman Nicolás Maduro in January, Trump urged ExxonMobil, ConocoPhillips, Chevron and more than a dozen smaller players to pump $100 billion into the country to revitalize its oil fields. Eight months later, almost all of them remain on the sidelines.

Two wildcatters-both led by Trump allies-joined Chevron and Italian oil giant ENI in signing oil-related investment deals at a ceremony Wednesday in Caracas.

Primavera-co-founded by Fred Ehrsam, a Trump ally who also co-founded Coinbase-will develop two heavy oil fields in the country's Orinoco belt. Aspect Holdings, led by Alex Cranberg, another prominent Republican donor, will conduct a technical study in conjunction with state-run Petróleos de Venezuela.

Last month, Hunt Oil signed an agreement to develop two fields; the Hunt family is also a well-known supporter of Trump and the GOP.

Exxon, Conoco and even some Trump allies such Harold Hamm's Continental Resources and Jeff Hildebrand's Hilcorp Energy have yet to commit to investing in Venezuela.

Chevron, already the largest foreign investor in the country, has made the biggest splash. The company intends to invest $7 billion there over the next five years through its three joint ventures.

ENI, which has operated in Venezuela for decades, also outlined plans to boost its output.

As for North American Blue Energy Partners, it intends to independently operate many of 17 oil fields over which it gained control, according to people familiar with the matter. But there might be opportunities for U.S. companies to co-invest through joint ventures, the people said.

U.S. officials are already flexing their muscles in Venezuela through North American Blue Energy Partners. Some of the fields it now controls were previously operated by Chinese companies.

In a Bloomberg TV interview Wednesday, Energy Secretary Chris Wright acknowledged China wouldn't have any claims to Venezuela's oil revenue or production. And, he said, the deal bolsters Washington's foothold in the region by displacing foreign adversaries.

When asked whether North American Blue Energy Partners would be able to bring in additional partners to help develop the oil fields it now controls, Wright said: "Oh, I'm certain that will happen."