Indonesia Energy Corporation (IEC) has officially begun operations on the first of two new wells planned at the Kruh Block in Sumatra. The first well, named K-29, already has its drilling platform in place, and the casing pipes have been delivered to the site. IEC is currently awaiting government approval of the tender for the drilling rig and other major components before it can move forward with full drilling activities. The company views this milestone as a critical step in unlocking the potential of its 63,000-acre Kruh Block asset, which remains a key focus in its development strategy.

IEC highlighted that its Indonesian assets—particularly the Kruh and Citarum Blocks—hold world-class potential that could significantly increase shareholder value. At the 27th H.C. Wainwright Global Investment Conference, IEC’s President Frank Ingriselli emphasised that the project aligns with the company’s long-term strategy of growth through reserve development and increased oil and gas production. The company also reiterated its commitment to providing regular updates to the market as drilling preparations advance and new technical milestones are reached.

Source: https://indoposco.id/ekonomi/2025/09/10/700-desa-indonesia-siap-ekspor-produk-mereka