Indonesia Energy begins Kruh block drilling

Indonesia Energy Corp. Ltd. (IEC) started drilling the first of its two back-to-back producing wells at Kruh block on Sumatra Island, Indonesia, where IEC is already producing oil from 5 existing wells.

K-27 was spudded Apr. 7. With a target total depth of 3,400 ft, it is expected to take about 45 days to complete drilling operations.

IEC plans to begin drilling the second well, K-28, immediately following completion of K-27. A third new well is expected to begin drilling in June or July, and likely a fourth new well before yearend.

The wells advance IEC’s campaign to complete 18 new production wells in Kruh block by end 2024.

If successful, K-27 and K-28 are expected to produce an average of over 100 b/d each over the first year. Each will cost about $1.5 million to drill and complete.

Kruh block covers 63,753 acres. Out of the total eight proved and potentially oil-bearing structures in the block, three (North Kruh, Kruh, West Kruh fields) have combined proved developed and undeveloped gross crude oil reserves of 4.99 million bbl (net crude oil proved reserves of 2.13 million bbl) and probable undeveloped gross crude oil reserves of 2.59 million bbl (net probable crude oil reserves of 1.12 million bbl) as of Jan. 1, 2019.

IEC holds 100% participating interest in the block.