INDO News & Events

Indonesia Energy announced pre-drilling progress on its planned next two wells at IEC's Kruh Block. IEC remains on target to commence drilling at the first of these new wells before the end of this first quarter of 2026. The wells are expected to be drilled on a back-to-back basis. Drilling pads for the next 2 wells have been constructed for the K-29 well and delivered for the WK-5 well. Drilling pipe and drill bits and wellheads have been delivered. The drilling rig has been selected and is currently under inspection.

Indonesia Energy announced that it signed a Memorandum of Understanding with Aguila Energia e Participacoes, an affiliate of Rio de Janeiro-based investment firm Aguila Capital, as part of the official signing ceremonies during the summit meetings between President Prabowo Subianto of Indonesia and President Luiz Inacio Lula da Silva of Brazil. The MOU establishes a cooperative, non-binding framework between IEC and AEP to jointly identify, evaluate, and pursue potential opportunities using state funded and other sources of capital to cooperate in the development of two hybrid energy pilot projects integrating solar power and natural gas from AEP's assets in the Northeast region of Brazil. The aim of this effort would be to provide autonomous energy infrastructure for data centers in Brazil, with each project being potentially capable of initial generation capacity of 10 MW, with the potential for progressive expansion up to 400 MW.

Indonesia Energy signed a Memorandum of Understanding dated August 18 with Aguila Energia e Participacoes, an affiliate of Rio de Janeiro-based investment firm Aguila Capital. The MOU establishes a cooperative framework between the parties to jointly identify, evaluate, and pursue potential opportunities to acquire or participate in oil and gas or other energy-related assets and projects located in Brazil, a major global energy market. The cooperation combines IEC's oil and gas and capital market experience with AEP's capabilities in local Brazilian transactions, regulatory engagement, and asset development. The MOU reflects IEC and AEP's shared vision to build a diversified energy portfolio across upstream and downstream segments through disciplined, cross-border cooperation. The MOU is a non-binding statement of intent. IEC and AEP will seek to enter into appropriate definitive agreements for projects on an opportunity-by-opportunity basis.

Indonesia Energy announced that it plans to drill two back-to-back wells on IEC's 63,000 acre Kruh Block commencing in the fourth quarter of 2025. IEC's planned drilling activities are expected to encompass: Two wells being drilled back-to-back to help minimize mobilization costs. A 750 horsepower drilling rig is planned to be used and is currently undergoing final inspection. The wells will be designated "Kruh-29" and "West Kruh-5", representing IEC's first new well drilling activity in West Kruh Field. Surface locations and subsurface geology for both wells have been approved by SKK Migas and Pertamina, the applicable Indonesian government entities. For Kruh-29, land acquisition, logistics, and tubular material procurement have been completed. For West Kruh-5, tender documents for required third party vendors are being prepared. Spudding of Kruh-29 is expected in the middle of the fourth quarter of 2025, with production anticipated to begin by year-end.