Indonesia Energy expects to drill new production wells after 3D seismic operations
Indonesia Energy Corporation has provided an operational update and announced that it has completed the recording of 29 sq km of new 3D seismic at its 63,000-acre Kruh Block, located onshore on the Island of South Sumatra. IEC’s 3D seismic program is focused on existing proved reservoirs in the Talangakar and Lemat formations, as well as the shallow oil/gas zones in the K-28 well discovered by IEC in 2022.
IEC anticipates that the results of this seismic work may allow IEC to drill new production wells at Kruh Block by the end of 2024. The company also announced that it expects to begin operations before the end of the year at its 650,000-acre Citarum Block, where reserves could potentially exceed 1 bboe.
Preparations for the new drilling operation are underway, with plans to drill the first well in Q4 of 2024 after the evaluation of the new three-dimensional seismic data is completed.
In September 2023 the joint operation contract with IEC and Pertamina, the Indonesian state-owned oil and gas company, covering the Kruh Block was extended by 5 years from May 2030 to September 2035.
