Indonesia Energy Corporation (IEC) has signed a non-binding Memorandum of Understanding (MOU) with Brazil’s Aguila Energia e Participações Ltda. (AEP) on August 18, 2025, marking its first expansion move beyond Indonesia. The agreement establishes a collaborative framework to jointly identify, assess, and pursue oil and gas and other energy-related opportunities in Brazil, leveraging IEC’s experience in oil, gas, and capital markets, alongside AEP’s local expertise in transaction execution, regulatory affairs, and asset development.
IEC President Frank Ingriselli noted that Brazil’s attractive energy investment landscape, including its year-round Oferta Permanente bid system, availability of undervalued near-producing assets, and low-royalty concession contracts (typically 5–10%), offers compelling entry points for independent energy firms. This international initiative complements IEC’s domestic growth strategy, which includes a planned drilling campaign in Q4 2025 at the Kruh Block, supported by seismic work that increased proved reserves by 60% earlier this year
