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]
 | |
 The Energy Tower in Jakarta, where the headquarters of MedcoEnergi is located | |
| Company type | Public |
|---|---|
| IDX: MEDC | |
| Industry | Oil and gas, Power Generation, Coal Mining, Gas Pipeline, Drilling Services |
| Founded | 9 June 1980 |
| Headquarters | Jakarta, Indonesia |
Key people | Hilmi Panigoro, President Director Roberto Lorato, CEO |
| Products | Crude Oil, Natural Gas, Electricity, Gold, Copper |
| Revenue |  US $ 2,25 billion (2023)[1] |
| US $ 660 million (2019)[1] | |
| US $ 330,67 million (2023)[1] | |
| Total assets |  US$ 7,46 billion (2023) |
| Total equity | US$ 2,02 billion (2023) |
| Owner | PT Medco Daya Abadi Lestari (51.50%) |
Number of employees | 4,000 (2019) |
| Website | www |
History
editThe 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] In 2020, the company started producing gas from the Meliwis Field in East Java.[8]
In December 2021, MedcoEnergi reached a deal with ConocoPhillips to acquire the assets of ConocoPhillips Indonesia Holding Ltd (CIHL). The acquisition was expected to be concluded in the first quarter of 2022.
Overview of personnel
editThe group's current President Director is Hilmi Panigoro. Roberto Lorato serves as the group's Director and CEO.[9][10]
See also
editReferences
edit- ^ a b c "Annual Report 2018". MedcoEnergi. p. 19. Retrieved 23 May 2019.
- ^ "Medco Energi Internasional". marketwatch. Retrieved November 14, 2020.
- ^ "Medco Energi Lands on the Map As It Discovers New Frontiers". Wall Street Journal. 20 November 2007. Retrieved 23 May 2019.
- ^ "Moody's Affirms MedcoEnergi Rating B1 Amid the Oil Prices War". theinsiderstories. March 25, 2020. Retrieved November 14, 2020.
- ^ "Lundin sells Indonesian assets for $22M". Offshore Energy Today. 9 October 2015. Retrieved 23 May 2019.
- ^ "Medco completes Ophir acquisition". Offshore Magazine. Retrieved 23 May 2019.
- ^ "Medco buys Lundin's Indonesian business". ogj. October 9, 2015. Retrieved November 14, 2019.
- ^ "Medco starts producing gas from Meliwis field". idnfinancials. July 20, 2020. Retrieved November 16, 2020.
- ^ "PT. Medco Energi Internasional Tbk". idnfinancials. Retrieved November 16, 2020.
- ^ "Roberto Lorato". oilandgascouncil. Retrieved November 16, 2020.