Indonesia's Kruh Block K-29 Well Commences Production, WK-5 Well to Spud by End of Month

en.Wedoany.com Reported - On October 6, Indonesia Energy Corporation disclosed that the K-29 well in the Kruh Block in Sumatra has begun producing oil, while site preparation and rig assembly for the WK-5 well are underway, with spudding planned before the end of October. WK-5 will continue to use the same rig that previously drilled the K-29 well, with a planned total depth of approximately 5,200 feet.

The K-29 well was spudded on July 25 and completed drilling in August, with a final measured depth of approximately 3,378 feet. The company had previously expected the well to commence production by the end of September. Currently, the wellhead is producing with a pumping unit and undergoing dewatering, with the produced fluids consisting of approximately 60% crude oil and 40% water. The crude oil produced from K-29 is separated into storage tanks, then commingled with crude oil from other producing wells in the Kruh Block and sold to Indonesia's state oil company Pertamina. The company did not disclose the current daily production rate of K-29.

IEC also plans to conduct hydraulic fracturing operations on the K-29 well. Since the drilling equipment and crew remain in the Kruh Block, the company will arrange the fracturing operation under existing operational conditions. After K-29 was completed, the rig was moved to the WK-5 wellsite, where site layout and rig installation are currently underway.

The WK-5 well is planned to be drilled to a significantly greater depth than the K-29 well, targeting deeper horizons identified by IEC through 3D seismic surveys, including a potential gas-bearing zone. The company plans to complete the WK-5 well before the end of 2026. Both K-29 and WK-5 are located in the Kruh Block, which covers an area of approximately 63,000 acres.

IEC subsequently also plans to advance a continuous drilling program in the Kruh, West Kruh, and North Kruh areas. The company disclosed in U.S. securities regulatory filings that it plans to drill 16 new wells from 2027 to 2030, with implementation progress still subject to financing, regulatory permits, drilling equipment and oilfield service resources, and market conditions.