Indonesia Energy Corporation signed a Memorandum of Understanding (MOU) dated August 18, 2025, with Aguila Energia e Participações Ltda. (AEP), a Brazilian energy company. This MOU establishes a cooperative framework to jointly identify and evaluate potential energy opportunities in Brazil.
This collaboration represents IEC’s initial step to evaluate expansion beyond Indonesia, marking a strategic move into a major global energy market. The cooperation combines IEC’s oil and gas and capital market experience with AEP’s local Brazilian expertise.
Frank Ingriselli, IEC's President, highlighted Brazil as an attractive market for upstream investment due to its Oferta Permanente bid system and opportunities from junior operators divesting fields. This initiative advances IEC's growth strategy to scale production and diversify its portfolio.
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