Indonesia Energy Corp. has lifted its drilling rig and completed critical safety checks at the Kruh Block, keeping the company firmly on schedule to begin its two-well exploration campaign this month.
The oil and gas explorer announced today that rig setup at the K-29 wellsite is finished and internal functional testing is already underway.
The operational milestone follows the completion of rig mobilisation, which had previously faced unexpected logistical hurdles.
Frank Ingriselli, President of IEC, said: “We are very pleased with our operational team’s ability to successfully navigate the previously reported and unexpected logistical and industry-wide challenges affecting Indonesia and global markets.
“We believe our Indonesia assets, combined with the current oil price environment, position IEC favourably to advance our strategy of maximising investment returns and enhancing shareholder value.”
The updated timeline indicates that final rig-up and crew readiness are expected ahead of schedule by the week of June 15.
The company has already synthesised its workforce, hiring 98 out of 102 required personnel, with the final four positions currently being finalised.
Following internal functional testing, Indonesia’s state-owned energy company, Pertamina EP, will conduct a formal government inspection.
This final administrative hurdle remains on track for late June, paving the way for the official spud date (the commencement of drilling) before the end of the month.
Once operations at the K-29 well wrap up, the company intends to immediately pivot to drilling the WK-5 well as part of its broader Kruh Block program.
IEC’s principal assets are its Kruh Block, amounting to 63,000 acres, located onshore on the Island of Sumatra in Indonesia and its Citarum Block, 195,000 acres, located onshore on the Island of Java in Indonesia.