Indonesia Energy advances drilling operations in Sumatra's Kruh block
Key Highlights
- Indonesia Energy Corp. started drilling operations at Kruh block.
- Following completion K-29, IEC will start drilling WK-5.
Indonesia Energy Corp. (IEC) started operations on the K-29 well in Kruh block, Sumatra Island, Indonesia.
Drilling pads for wells K-29 and WK-5 were constructed in March, with all long-lead items such as drilling pipe, drill bits, and wellheads delivered as part of IEC’s Kruh block drilling program.
Following completion of the K-29 well, IEC plans to start drilling WK-5.
Preparatory operations for drilling at the WK-5 wellsite are progressing as planned, the operator said.
As part of IEC's agreement with Indonesia's state-owned Pertamina for Kruh block, Pertamina will purchase all the crude oil produced from the project and pay IEC in US dollars at the price of Brent after subtracting a small transportation cost.
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.