Indonesia Strengthens Energy and Critical Mineral Investment: Pertamina Partners with Halliburton, Freeport Signs Deal with Danantara

PT Pertamina (Persero) and PT Freeport Indonesia’s (PTFI) parent company, Freeport-McMoRan Inc. (FCX), signed memoranda of understanding (MoU) with a number of strategic partners in the United States. The signings took place at the US Business Summit held at the Chamber of Commerce in Washington D.C. on Thursday, 19 February 2026.

At the event, Pertamina entered into a partnership with Halliburton Co., a US-based upstream oil and gas services company. The collaboration focuses on well optimisation, or enhanced oil recovery (EOR). Halliburton is recognised as a comprehensive provider of upstream oil and gas technology, equipment, and technical services, ranging from exploration and production to the maintenance of mature wells.

Meanwhile, Freeport-McMoRan signed an MoU with the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) and BPI Danantara. The partnership is directed towards the development of critical minerals, which represents one of Indonesia’s key investment priorities going forward.

The signing of these various agreements was witnessed directly by President Prabowo Subianto. The President’s presence underscored the Indonesian government’s serious commitment to attracting foreign investment, particularly from the United States, in strategic sectors.

The US Business Summit itself is a significant forum bringing together various stakeholders. The event was attended by the Indonesian Chamber of Commerce and Industry (Kadin), the US Chamber of Commerce (USCC), the US-ASEAN Business Council (USABC), and the US-Indonesia Society (USINDO), marking a joint effort to strengthen bilateral economic ties.