IEC spuds Kruh well in Sumatra, Indonesia
Indonesia Energy Corporation (IEC) has spudded one of two production wells onshore Sumatra Island after having discovered it to be a potential natural gas-bearing reservoir. Kruh-28 (K-28), located on the over 63,000-acre Kruh block, is the second of two back-to-back oil wells drilled over the past three months.
The gas interval at K-28 was found between the depths of 976 ft and 1,006 ft, with 25 ft net thickness and supported by wireline logging and geologic logging data. It was not encountered in previous oil wells where IEC reported only oil discoveries.
Drilling toward the expected oil zone at 2,836-2,964 ft (subsea TVD depth) is underway.
Three of the eight proved and potentially oil-bearing structures in the Kruh block (North Kruh, Kruh, West Kruh fields) have combined proved developed and undeveloped gross crude oil reserves of 4.99 million barrels of oil (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 Kruh block and plans to drill two more wells along the block by the end of the year – K-28 and the earlier K-27 well each cost about USD1.5million to drill and complete.
IEC intends to complete 18 new production wells in Kruh block by end 2024.
