Indonesia Energy signs MOU to seek out oil and gas projects in Brazil

Indonesia Energy Corp. Ltd. (IEC), Jakarta, Indonesia, has signed a memorandum of understanding (MOU) with Aguila Energia e Participações Ltda. (AEP) for potential oil and gas projects in Brazil.

The non-binding 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, the companies said in a mid-August release. 

IEC principal assets are its Kruh block (63,000 acres) onshore the Island of Sumatra in Indonesia and its Citarum Block (195,000 acres) onshore on the Island of Java in Indonesia.