Indonesia Energy Signs MOU With Aguila Energia During Summit Meetings Between President Prabowo Subianto Of Indonesia And President Luiz Inácio Lula Da Silva Of Brazil

MOU furthers IEC's efforts with Aquila Energia to explore the promotion of sustainable off grid energy solutions for the growing digital economy in Brazil 

JAKARTA, INDONESIA AND DANVILLE, CA, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Indonesia Energy Corporation (NYSE:INDO) ("IEC"), an oil and gas exploration and production company focused on energy assets in Indonesia, today announced that it signed a Memorandum of Understanding (MOU) with Aguila Energia e Participações Ltda. ("AEP"), 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 Inácio 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.

The recently signed MOU follows an initial non-binding memorandum of understanding signed by IEC and AEP in August 2025 under which the parties agreed more generally to explore acquisitions or participations 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.