Indonesia Energy advances 2022 drilling campaign onshore Sumatra

Indonesia Energy Corp. Ltd. expects to begin drilling its next two new wells at the company’s 63,000-acre Kruh block onshore Sumatra within 30 days and a third well before the end of the year’s second quarter.

The wells (Kruh 27, Kruh 28, Kruh 29) will cost about $1.5 million each to drill and complete.

The recently completed Kruh 26 well increased its daily oil production rate by over 50% (OGJ Online, Sept. 16, 2021).

Assuming the drilling campaigns for Kruh 27 and Kruh 28 yield producing wells, IEC's production target is to be producing about 450 boe/d after completion of Kruh 27 and Kruh 28.