MedcoEnergi
 | |
 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 |
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]
History
[edit]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] 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
[edit]The group's current President Director is Hilmi Panigoro. Roberto Lorato serves as the group's Director and CEO.[9][10]
See also
[edit]References
[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.