Emerging Energy Group
Welcome to Indonesia Energy Corporation
We are an independent energy company engaged in the oil and gas business with operations primarily in Indonesia.
Our strategy is to build an oil and gas assets portfolio with an optimum mix between medium-sized producing blocks and exploration blocks with significant potential resources.
Our producing asset, Kruh Block, located in Pendopo, South Sumatra province, is a stable and positive cashflow generating oil asset. Our exploration play, Citarum Block, located in the most populated province in Indonesia, only 16 miles south of the capital city of Indonesia, Jakarta, is a de-risked asset with proven presence of hydrocarbons that offers an immense growth opportunity and downstream integration possibilities.
We are also conducting a joint study program to acquire an area that we believe to hold large amounts of crude oil due to its proven petroleum system and location on the Northwest Java basin, the Rangkas Area.
This block covers an area of 258 square kilometers (63,753 acres) and is located in the most prolific oil producing island in Indonesia, Sumatra. Kruh Block produced an average of approximately 9,900 barrels of oil per month (gross) in 2018 from 4 wells. The block’s development program, to be initiated in 2020, includes the drilling of 18 development wells that will boost our revenue stream. We also plan to explore Kruh Block’s upside potential, since our reserves comes from only 3 out of the total 8 proved and potentially oil bearing structures. We hold the operatorship of the block until 2030.
This gas prone block covers an area of 3,925 square kilometers (969,807 acres) and is located in West Java, only 16 miles south of the capital city of Indonesia, Jakarta. The geographic location of the block places it within a short distance of the major gas consumption area in Indonesia. This region has a proven petroleum system due to its long history of exploration and production efforts since the 1960’s. The Northwest Java basin, where Citarum Block is located, currently produces approximately 45,000 barrels of oil per day and 450 million standard cubic per day of gas. We hold the operatorship of the block until 2048.
Joint Study Program – Rangkas Area
Rangkas Area is a high-quality hydrocarbon-bearing area in the onshore West Java, adjacent to our Citarum Block. Reports regarding Rangkas show the discovery of several oil seeps and one gas seep, indicating that the petroleum system in the area is indeed proven. We are currently conducting a Joint Study in the Rangkas Area to assess its petroleum system with the objective of determining its oil and gas potential.
- Indonesia Energy Corporation Announces Commencement of Ten Year Extension of Contract for its Production Asset Kruh Block June 10, 2020Indonesia Energy Corporation Announces Commencement of Ten Year Extension of Contract for its Production Asset Kruh Block
- Indonesia Energy Corporation Interviewed by Stock News Now Regarding 2020 Activities May 28, 2020Indonesia Energy Corporation Interviewed by Stock News Now Regarding 2020 Activities
- Noble Capital Markets Initiates Equity Research Coverage on Indonesia Energy Corporation (NYSE American:INDO) with a price target of $6.00 and a rating of Outperform April 28, 2020Noble Capital Markets Initiates Equity Research Coverage on Indonesia Energy Corporation (NYSE American:INDO) with a price target of $6.00 and a rating of Outperform