Indonesia Energy Corporation announced a significant increase of over 60% in proved gross reserves at its Kruh Block. This substantial upgrade follows investments in seismic and other exploration work during 2024.
The company's 2024 investments in seismic work and the Kruh contract extension contributed to this reserve increase. This development enhances the long-term value and production potential of the asset.
This update provides a positive outlook for IEC's planned drilling activity in the second half of 2025. The increased reserves support future production growth and operational expansion.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.