Indonesia and South Korea Agree on MoU to Strengthen Cooperation in the Oil and Gas Sector
Jakarta (ANTARA) - Indonesia and South Korea have agreed on a memorandum of understanding (MoU) on Cooperation in the Field of Offshore Plant Service Industry or a Memorandum of Mutual Understanding (MSP) on cooperation in the field of offshore installation services industry.
The cooperation aims to strengthen synergy between the two countries in the oil and natural gas (migas) sector.
“This MoU is targeted to strengthen synergy between Indonesia and the Republic of Korea in the development of the offshore installation services industry, including technology transfer, enhancement of human resource capacity, as well as the decommissioning and reutilisation of post-operational offshore platforms for oil and natural gas,” said Airlangga in his statement, quoted in Jakarta on Monday.
The agreement was exchanged by the two ministers in the presence of President Prabowo Subianto and President of the Republic of Korea Lee Jae Myung during a bilateral meeting at the Presidential Palace of the Republic of Korea (Blue House), Seoul, on 1 April 2026.
The scope of cooperation covers the development of offshore installation services industry technology, decommissioning of post-operational migas offshore platforms, and reutilisation of those facilities.
In addition, the two countries agreed to enhance communication and collaboration between the public and private sectors, as well as to strengthen capacity and human resource development in the migas sector and related fields.
Furthermore, Coordinating Minister Airlangga stated that this cooperation opens opportunities for national energy business actors, including the Pertamina Group and private companies, to participate in the implementation of the MoU.
“The reutilisation of post-operational oil and natural gas offshore platforms is planned to be used as locations for LNG Receiving Terminals as well as Carbon Capture and Storage sites, and this is open to national energy industry players,” explained the Coordinating Minister.
The MoU is valid for five years from the date of signing and can be extended based on the agreement of both parties.
Although it does not create legally binding international obligations, this agreement serves as an important foundation in strengthening the strategic partnership between Indonesia and Korea in the energy sector, particularly migas.
“This cooperation reflects the commitment of both countries in promoting sustainable economic development, while also strengthening Indonesia’s position as a strategic player in the global energy industry,” Airlangga concluded.