Indonesia Energy Corp Ltd Dossier
Qualitative Analysis
Business overview
Indonesia Energy Corp Ltd (NYSE American: INDO) is an independent oil and gas exploration and production company focused on the acquisition and development of strategic, high-growth energy projects in Indonesia. The company's principal assets are its Kruh Block, a producing block covering approximately 63,000 to 64,000 acres onshore on the Island of Sumatra, and its Citarum Block, an exploration block covering approximately 195,000 acres onshore on the Island of Java. Additionally, the company has identified a potential third exploration block known as the Rangkas Area. Incorporated in 2018 and headquartered in Jakarta, Indonesia, the company conducts all of its operations through its direct and indirect wholly-owned operating subsidiaries.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
A continuous drilling campaign targeting the development of 18 new wells through 2030 at the Kruh Block, following the completion of 29 sq. km of 3D seismic work.
Expected impact: Aims to unlock proved net oil reserves of 2,556,125 barrels (as of June 30, 2025) and generate projected future net revenue of USD 222 million.
Appraisal and development plans targeting the 195,000-acre gas-focused Citarum Block onshore Java, including designing a drilling program to drill the first well to delineate the gas discovery in the Jatayu area.
Expected impact: Targets a potential resource value of USD 1 billion.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Marks the company's first expansion initiative beyond Indonesia, combining its oil and gas expertise with AEP's local Brazilian market knowledge to pursue upstream and downstream energy assets.
Terms: Terms of the MOU signed on August 18, 2025, were not publicly disclosed.
BMA was appointed to provide the BMA #9 drilling rig for the K-29 and WK-5 wells at the Kruh Block, securing critical operational equipment and crew.
Terms: Specific financial terms of the drilling contract were not disclosed.