Internacional have confirmed Oscar's potential move to Chelsea is at a "very advanced" stage.
Brazil international Oscar, who is currently in England preparing for the London 2012 Olympics, confirmed last weekend that he has already had a medical with the Blues, and on Monday, Internacional president Giovanni Luigi had confirmed that his side had struck a "verbal agreement" over a deal for the 20-year-old.
Chelsea are believed to be prepared to pay in the region of £25million for the attacking midfielder, and following reports in South America suggesting the signing could go through before the weekend, Luigi has confirmed a deal is close.
"The situation is very advanced, but not finalised yet," he told Terra.
"Oscar has to get his work permit. He needs to have a certain amount of caps to play in England, but I don't believe that will be a problem."
Luigi did not confirm how much Chelsea would be paying, but admitted Oscar's former club Sao Paulo would receive a percentage of the transfer fee.
"I won't confirm the value, but I can guarantee it wasn't in pounds. No cross-border negotiation is made in pounds - it's either Euros or dollars," he added.
"I have also reached an agreement with Sao Paulo over their part. It's Chelsea that will pay that, not Internacional."
The signing of Oscar would take Chelsea's summer spending up to around £65m following the recent arrivals of Marko Marin and Eden Hazard.