Indonesia Energy Corporation Limited
New York Stock Exchange AmericanCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
•
in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Wirawan Jusuf
- Full Time Employees
- 31
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- DEA Tower I Jakarta Indonesia 12950
- IPO Date
- Dec 19, 2019
- CIK
- 0001757840
- Website
- indo-energy.com
- Similar Companies
- Business
- Indonesia Energy Corporation Limited is an independent oil and gas exploration and production company primarily operating in Indonesia, with headquarters in Jakarta and a representative office in Danville, California. The company focuses on the development and production of crude oil, predominantly from the Kruh Block, a 63,000-acre producing asset located onshore in South Sumatra, Indonesia. It also holds exploration rights to the Citarum Block, an approximately 195,000-acre onshore exploration area in West Java, and has identified potential exploration opportunities in the Rangkas area. Indonesia Energy’s product portfolio centers on crude oil sold mainly to the Indonesian domestic market, primarily through Pertamina, with ongoing efforts to increase production through continued drilling and development. Recent company developments include plans to drill two new wells at the Kruh Block in the fourth quarter of 2025 as part of a broader strategy to drill a total of 18 wells in the block, aiming to enhance production volumes and reserve levels. In May 2025, the company announced a 60% increase in proved gross reserves at the Kruh Block, aided by investment in 3D seismic operations and field development. Indonesia Energy also signed a memorandum of understanding with a Brazilian energy company to explore acquisitions and participations in oil and gas or other energy-related assets in Brazil's market, representing a strategic expansion beyond Indonesia. The company completed a private placement in 2022 to raise capital for ongoing operations and growth initiatives. Indonesia Energy operates under production sharing contracts (PSCs) with the Indonesian government for its blocks, focusing on exploration, appraisal, development, and production activities. Its business model relies heavily on crude oil extraction and sales, with plans to support exploration success through advanced seismic surveys and development drilling. The company, founded prior to the 2010s, is positioned within the upstream oil and gas sector, with strategic focus on increasing output and reserves from its existing assets while exploring new resource opportunities domestically and internationally. Recent operational updates include commencement of drilling site preparations, procurement activities, and environmental permit approvals for gas exploration activities at its Citarum Block. Overall, Indonesia Energy Corporation Limited presents a concentrated upstream energy profile with a core emphasis on Indonesian oil fields supplemented by strategic international growth initiatives and operational enhancements aimed at reserve expansion and production optimization.
Indonesia Energy Corporation Reports Rig Mobilization Complete for K-29 Well, the First of Two Planned Wells at Kruh Block in 2026
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Indonesia Energy Signs Memorandum of Understanding During State Visit to Indonesia By Brazilian President Lula da Silva Promoting Energy Cooperation between Indonesia and Brazil
Indonesia Energy Announces That Operations On The First of Two New Wells To Be Drilled at Kruh Block Have Commenced
Indonesia Energy Signs Memorandum of Understanding with Brazilian Energy Company To Explore Energy Opportunities in Brazil
Indonesia Energy Plans to Commence Drilling Two Wells at Kruh Block During the Remainder of 2025
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Indonesia Energy Completes Recording Of New 3D Seismic Operations at its Kruh Block and Expects to Drill New Production Wells By End of Year
Indonesia Energy Commences New 3D Seismic Operations at its Kruh Block and Expects to Drill New Production Wells By End of Year
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Indonesia Energy to Present at The Microcap Conference in Atlantic City on January 31 and again on February 1, 2024