By: Energy capital & power

The return of President Donald Trump to the White House could mark a renewed chapter in U.S.-Angola relations, with oil and gas development emerging as a central pillar. With Trump’s unapologetic focus on fossil fuel expansion – encapsulated in his enduring mantra “drill, baby, drill” – Angola, one of Africa’s largest oil producers, stands to benefit from a foreign policy shift that places energy cooperation at its core.

Angola’s hydrocarbon sector has long attracted international interest. The involvement of American majors, particularly ExxonMobil and Chevron, underscores the depth of U.S. engagement in the country’s prolific deepwater basins. With estimated reserves of nine billion barrels of oil and 11 trillion cubic feet of natural gas, Angola remains a frontier for exploration and production. The Trump Administration – aligned with deregulation and increased overseas energy investment – could position Angola as a strategic partner in a broader U.S. energy agenda.

Angola’s American Oil Partners

Through its national concessionaire, the National Oil, Gas and Biofuels Agency (ANPG), Angola recently signed a major agreement with TotalEnergies and ExxonMobil to evaluate deepwater Free Trade Areas in Blocks 17/06 and 32/21. This aligns with Angola’s goal of sustaining oil production above one million barrels per day. If the studies yield positive results, they could lead to full concession contracts and a new wave of offshore output, supported by existing infrastructure for accelerated development.

ExxonMobil remains a cornerstone of U.S. investment in Angola. Production in the country has increased by 30%, with over 2.6 billion barrels produced from Block 15 alone. The company’s presence continues to expand through redevelopment efforts and new discoveries like the Likembe-01 well in the Kizomba B development area. ExxonMobil is reportedly ready to inject up to $15 billion in investment in Angola’s hydrocarbon sector by 2030 – solidifying its long-term strategic interest.

Chevron also plays a leading role, holding a 26% share in Angola’s oil sector through its Cabinda Gulf Oil Company subsidiary. The company operates Blocks 0 and 14 and, in 2023, signed a Memorandum of Understanding with the Angolan government to explore lower-carbon energy opportunities. Chevron has been instrumental in downstream developments, including the Angola LNG project in Soyo, which surpassed 400 LNG cargoes delivered in 2024.

Looking forward, ExxonMobil’s planned $200 million frontier exploration campaign in the Namibe Basin – conducted in partnership with national oil company Sonangol – could unlock significant new reserves. A successful discovery could yield $20–40 billion in national revenue, supporting Angola’s diversification efforts and socioeconomic development.

U.S.-based service companies including Baker Hughes, SLB, Weatherford and Oceaneering are also thriving in Angola. These firms are involved in multi-billion-dollar contracts and long-term infrastructure projects, demonstrating Angola’s attractiveness as a high-return investment destination. Their presence also advances Angola’s goals around local content, technology transfer and community engagement – areas where American firms can align their CSR strategies with national development priorities.

Fueling U.S.-Angola Engagement

President Trump’s second term opens new possibilities for expanding U.S.–Angola energy ties. His administration has made clear that it will prioritize the removal of regulatory barriers to fossil fuel development – not only domestically but also abroad. For African producers like Angola, this signals the potential for increased U.S. investment, stronger government-to-government engagement and a more dynamic energy trade relationship.

Should Trump ease restrictions on fossil fuel financing and position energy development as a core foreign policy objective, Angola could benefit from faster project approvals, deeper access to U.S. capital markets, and enhanced collaboration on large-scale ventures. For a country whose economy remains closely tied to hydrocarbons, this could stimulate industrialization, job creation and revenue generation for broader development.