Indonesia Energy starts pre-drill work for Kruh block wells

Indonesia Energy Corp. (ICE) has secured road access permits to begin pre-drill work on the next two wells planned at Kruh block, Sumatra Island, Indonesia.

The road to the drill site was impacted by severe flooding in Sumatra, delaying the start of drilling operations by several weeks. IEC has since secured permits to use the main road for the Bina Mitra Artha (BMA) #9 rig, which is on its way to the first well location (well K-29).

Drilling pads for wells K-29 and WK-5 have been constructed and all the long lead items such as drilling pipe and drill bits and wellheads have been delivered. 

The company expects to begin drilling within the next 60 days. 

Three structures in Kruh (North Kruh, Kruh, and West Kruh fields) hold 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’s short-to-medium term objective is to ramp up production by drilling 18 new wells to optimize the block’s upside potential and increase reserve values with seismic surveys.