Companies from Indonesia and the United States are expected to sign a memorandum of understanding worth $34 billion, a senior Indonesian government official said on Monday.

The deal will involve state energy company Pertamina, Exxon Mobil Corp, and Chevron. These firms are among those expected to take part in the agreement to be signed Monday afternoon U.S. time.

The agreement will also include purchases of U.S. agricultural products, such as soybeans, corn, and cotton, according to Pujo Setio, a senior official at Indonesia's ministry of economics.

Pujo Setio confirmed the deal’s total value and noted that the signing will occur later in the day in the United States.

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