1 April 2026 – Indonesia and Korea have further strengthened bilateral ties in the energy sector through the signing of a Memorandum of Understanding (MoU) on cooperation in the field of offshore plant service industry, marking a promising new phase of collaboration in offshore oil, gas, and energy transition initiatives. 

The MoU was signed in Seoul by Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto and Korea’s Minister of Oceans and Fisheries, Hwang Jong Woo during the Indonesian government’s official visit to Korea from March 31 to April 1, 2026. Its exchange was carried out between Airlangga and Kim Sung Bum, Korea’s Vice Minister of Oceans and Fisheries, in the presence of the President of Indonesia, Prabowo Subianto and President of Korea, Lee Jae Myung. 

The agreement outlines cooperation in the offshore plant service industry, alongside initiatives in capacity building and workforce development. A key feature of the MoU is its emphasis on decommissioning and reutilization of offshore platforms, including their potential conversion into liquefied natural gas (LNG) receiving terminals and carbon capture and storage (CCS) facilities – opening new pathways for sustainable offshore energy management. 

KIORCC has supported ongoing cooperation efforts between the two countries by facilitating supporting stakeholders engagement and enabling discussions among relevant parties, including in current initiatives on decommissioning and rig reutilization. The center remains optimistic that this growing partnership will continue to unlock further opportunities for collaboration between Indonesian and Korean governments and industry players, particularly in advancing innovative solutions in the offshore energy sector.