Indonesia Energy Corporation (IEC) has started oil production from well K-29 in the Kruh block in Sumatra and is also prepared to begin drilling the deeper WK-5 well by the end of October 2023. This new well is designed to achieve greater capacities and assess new resources.
Details of Well K-29
The recently drilled well K-29 has reached an approximate depth of 3,400 feet and is currently producing using a jack pump. IEC has announced that this well is undergoing water disposal operations, with produced fluids consisting of about 60 percent oil and 40 percent water. The oil produced from K-29 is separated in storage tanks and combined with the production from other IEC wells before being sold to Indonesia's state-owned oil and gas company, Pertamina.
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Planning for Well WK-5
For well WK-5, site preparation and drilling rig assembly are underway, utilizing the same rig that was used for K-29. This new well will reach an approximate depth of 5,200 feet and will be drilled to target additional layers identified through the company's 3D seismic program. One of these layers includes a layer containing potential natural gas that could help increase production.
IEC has expressed hope that the drilling of well WK-5 will lead to increased production and the discovery of new capacities in its assets in Indonesia, citing recent advancements in the Kruh block. Frank Ingriselli, President of IEC, has stated that the company is looking to increase production and optimize its resources in the region.
Production Outlook in the Kruh Block
Diversity in resources and new discoveries could help enhance the production capacity of the Kruh block. IEC is currently seeking to explore additional exploratory potentials identified through its seismic program. These efforts will continue to expand production and improve economic conditions in the region.
Currently, IEC has not released information about the current production rate of well K-29, but it is clear that the company is striving to increase its production using modern technologies and optimizing processes to serve both domestic and foreign oil markets.
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