PT Medco Energi Internasional Tbk or MedcoEnergi is an Indonesian oil and gas company. The
company
A company, abbreviated as co., is a Legal personality, legal entity representing an association of legal people, whether Natural person, natural, Juridical person, juridical or a mixture of both, with a specific objective. Company members ...
operates in
Trading
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market (economics), market.
Traders generally negotiate throu ...
and Holding & Related Operations, Exploration for and Production of
Oil & Gas
A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geologica ...
,
Power
Power may refer to:
Common meanings
* Power (physics), meaning "rate of doing work"
** Engine power, the power put out by an engine
** Electric power, a type of energy
* Power (social and political), the ability to influence people or events
Math ...
,
Services
Service may refer to:
Activities
* Administrative service, a required part of the workload of university faculty
* Civil service, the body of employees of a government
* Community service, volunteer service for the benefit of a community or a ...
,
Chemicals
A chemical substance is a unique form of matter with constant chemical composition and characteristic properties. Chemical substances may take the form of a single element or chemical compounds. If two or more chemical substances can be combin ...
and
Rental of properties.
History
The company was founded by
Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania, between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. Comprising over List of islands of Indonesia, 17,000 islands, including Sumatra, ...
n businessman Arifin Panigoro in 1980 and is headquartered in
Jakarta, Indonesia
Jakarta (; , Betawi language, Betawi: ''Jakartè''), officially the Special Capital Region of Jakarta (; ''DKI Jakarta'') and formerly known as Batavia, Dutch East Indies, Batavia until 1949, is the capital and largest city of Indonesia and ...
. In October 2015, the company bought an interest in the Singa gas field in the Lematang Block located in
South Sumatra
South Sumatra () is a Provinces of Indonesia, province of Indonesia, located in the southeast of the island of Sumatra. The capital and largest city of the province is the city of Palembang. The province borders the provinces of Jambi to the north ...
for $22 million and, in May 2019, the company acquired
Ophir Energy in a deal valued at $517.6 million.
Also in 2015, the company acquired the
Lundin Petroleum AB's Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania, between the Indian Ocean, Indian and Pacific Ocean, Pacific oceans. Comprising over List of islands of Indonesia, 17,000 islands, including Sumatra, ...
n
Oil & Gas
A fossil fuel is a flammable carbon compound- or hydrocarbon-containing material formed naturally in the Earth's crust from the buried remains of prehistoric organisms (animals, plants or microplanktons), a process that occurs within geologica ...
asset for $22 million. In 2020, the company started producing gas from the Meliwis Field in
East Java
East Java (, , ) is a Provinces of Indonesia, province of Indonesia located in the easternmost third of Java island. It has a land border only with the province of Central Java to the west; the Java Sea and the Indian Ocean border its northern ...
.
In December 2021, MedcoEnergi reached a deal with
ConocoPhillips
ConocoPhillips Company is an American multinational corporation engaged in hydrocarbon exploration and production. It is based in the Energy Corridor district of Houston, Texas.
The company has operations in 15 countries and has production in t ...
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
The group's current President Director is Hilmi Panigoro. Roberto Lorato serves as the group's Director and CEO.
See also
*
List of petroleum companies
The following is a list of notable companies in the petroleum industry that are engaged in petroleum exploration and production. The list is in alphabetical order by continent and then by country. This list does not include companies only involved ...
References
External links
*
{{DEFAULTSORT:Medcoenergi
1994 initial public offerings
Companies based in Jakarta
Companies listed on the Indonesia Stock Exchange
Companies in the IDX 30
Indonesian companies established in 1980
Oil and gas companies of Indonesia