MedcoEnergi

PT Medco Energi Internasional Tbk or MedcoEnergi is an Indonesian oil and gas company. The company operates in Trading and Holding & Related Operations, Exploration for and Production of Oil & Gas, Power, Services, Chemicals and Rental of properties.[2]

PT Medco Energi Internasional Tbk
TypePublic
IDX: MEDC
IndustryOil and gas, Power Generation, Coal Mining, Gas Pipeline, Drilling Services
Founded9 June 1980 (1980-06-09)
HeadquartersJakarta, Indonesia
Key people
Hilmi Panigoro, President Director
Roberto Lorato, CEO
ProductsCrude Oil, Natural Gas, Electricity, Gold, Copper
RevenueIncrease US $ 1,438.2 million (2019)[1]
Decrease US $ 660 million (2019)[1]
Decrease US $ (27) million (2019)[1]
Total assetsIncrease US$ 6.006 billion (2019)
Total equityDecrease US$ 1.356 billion (2019)
Number of employees
4,000 (2019)
Websitewww.medcoenergi.com

History

The company was founded by Indonesian businessman Arifin Panigoro in 1980 and is headquartered in Jakarta, Indonesia.[3][4] In October 2015, the company bought an interest in the Singa gas field in the Lematang Block located in South Sumatra for $22 million[5] and, in May 2019, the company acquired Ophir Energy in a deal valued at $517.6 million.[6]

Also in 2015, the company acquired the Lundin Petroleum AB's Indonesian Oil & Gas asset for $22 million.[7] Since 2020, the company is producing gas form the Meliwis Field, East Java.[8]

As of December 2021, the company has clinched a deal with ConocoPhillips to acquire the assets of ConocoPhillips Indonesia Holding Ltd (CIHL). The acquisition is expected to be concluded in the first quarter of 2022.

Overview of personnel

The group's current President Director is Hilmi Panigoro. Roberto Lorato serves as the group's Director and CEO.[9][10]

See also

References
  1. "Annual Report 2018". MedcoEnergi. p. 19. Retrieved 23 May 2019.
  2. "Medco Energi Internasional". marketwatch. Retrieved November 14, 2020.
  3. "Medco Energi Lands on the Map As It Discovers New Frontiers". Wall Street Journal. 20 November 2007. Retrieved 23 May 2019.
  4. "Moody's Affirms MedcoEnergi Rating B1 Amid the Oil Prices War". theinsiderstories. March 25, 2020. Retrieved November 14, 2020.
  5. "Lundin sells Indonesian assets for $22M". Offshore Energy Today. 9 October 2015. Retrieved 23 May 2019.
  6. "Medco completes Ophir acquisition". Offshore Magazine. Retrieved 23 May 2019.
  7. "Medco buys Lundin's Indonesian business". ogj. October 9, 2015. Retrieved November 14, 2019.
  8. "Medco starts producing gas from Meliwis field". idnfinancials. July 20, 2020. Retrieved November 16, 2020.
  9. "PT. Medco Energi Internasional Tbk". idnfinancials. Retrieved November 16, 2020.
  10. "Roberto Lorato". oilandgascouncil. Retrieved November 16, 2020.
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