Indonesia Energy Corporation (ICE) has announced the discovery of oil in its Kruh 26 well, onshore Sumtra. The Kruh 26 well was drilled to a depth of 3,376 feet under the previously announced budget of USD1.5 million. The company has announced plans to conduct stimulation work and commence production from the Kruh 25 and 26 wells in October 2021.
Once full production from the two new wells is achieved, it is expected to increase the company’s overall oil production by more than 100 per cent. Both the wells are a part of the 63,000-acre Kruh block in Indonesia.