Project UpdateMay 28, 2026, 05:36 PM
Indonesia Energy Completes Rig Mobilization for K-29 Well
AI Summary
Indonesia Energy Corporation announced the completion of rig mobilization for its K-29 well, the first of two planned wells at its 64,000-acre Kruh Block in 2026. Despite industry-wide operational challenges like flooding and diesel shortages, the company successfully advanced preparations. The K-29 well is expected to spud in late June 2026, with drilling at the WK-5 well to follow, capitalizing on strengthened global oil prices.
Key Highlights
- Rig mobilization completed for K-29 well, the first of two planned wells in 2026.
- K-29 well is located at the company's 64,000-acre Kruh Block.
- Installation and rig setup for K-29 expected to be completed by early June 2026.
- Spud date (start of drilling) for K-29 well is estimated for late June 2026.
- Company plans to commence drilling at WK-5 well after K-29 completion.
- Operational challenges faced due to anomalous weather, diesel shortages, and personnel competition.
- Drilling campaign is timely due to strengthened global oil prices.
Price Impact
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