08:27 AM EDT, 09/06/2024 (MT Newswires) -- Criterium Energy (CEQ.V) on Friday named Matthew Klukas, the interim chief executive, as president and CEO.

The company also appointed Andrew Spitzer as chief financial officer. Spitzer, who was previously VP, Corporate Development, takes over from Henry Groen, who resigned and is now a special advisor to Criterium.

The company also confirmed the imminent spud of MGH-43, the first of two planned and operated infill wells to be drilled from a new well-pad within the Mengoepeh (MGH) field in Tungkal PSC, in Sumatra, Indonesia. About 300 bbl/d (150 bbl/d per well) of incremental light oil production is expected to be added from the 2024 program. The volumes from the two wells are expected to be on-stream in November.

The total cost of the program is estimated at US$4.5 million. While Criterium plans to build a pipeline along the fence line in the future, volumes will initially be trucked via an existing access road.