Offshore

Lion Energy Awards Rig for East Seram Well

Lion Energy has awarded the SCD-20 rig to Silver City Drilling for the Bula Karang-1 well in Indonesia’s East Seram PSC, with spud expected in mid-2026.

Illustration (Source: Shutterstock / ID-2028726731)

7, April 2026
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Lion Energy has awarded the SCD-20 rig contract to Silver City Drilling for the Bula Karang-1 exploration well in Indonesia’s East Seram production sharing contract, taking the project a step closer to drilling.

The company said in an ASX filing that Bula Karang-1 is expected to spud in mid-2026. The well will target oil resources in the East Seram block, where the company is progressing its next phase of exploration work.

Bula Karang-1 is planned as a deviated well that will test offshore structures from an onshore drilling site. This well design is intended to cut drilling and development costs while still reaching the reservoirs identified within the prospect area.

The prospect has an estimated P50 oil resource of about 12 million barrels. Drilling results are expected to provide a clearer view of the broader resource potential within the East Seram acreage.

For Lion Energy, the rig award marks an operational milestone ahead of the planned 2026 drilling campaign in Indonesia.

Tags: East Seram, exploration drilling, Indonesia, Lion Energy, Silver City Drilling

Editorial Note:
This article was prepared with the assistance of AI tools to enhance clarity and efficiency.
All information has been reviewed and verified by the HMT News editor.

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