August 25, 2016 7:35 PM ET

Oil, Gas and Consumable Fuels

Company Overview of PT Medco Energi Internasional Tbk.

Company Overview

PT Medco Energi Internasional Tbk, an integrated energy company, engages in the exploration and production of oil and gas. It operates through Exploration for and Production of Oil and Gas; Services; Chemicals; Coal Mining; Trading; Holding and Related Operations; and Rental Properties segments. The company operates eight exploration and production blocks in Sumatra, Kalimantan, Java, and Sulawesi in Indonesia, as well as holds coal bed methane contracts in Sumatra; and holds oil and gas assets in Oman, Libya, Yemen, Tunisia, and Papua New Guinea. It also operates as an independent power producer, contractor for operations and maintenance services, and contractor for EPC services for power p...

The Energy Building

53rd Floor

SCBD Lot 11A

Jl. Jenderal Sudirman

Jakarta,  12190

Indonesia

Founded in 1980

1,177 Employees

Phone:

62 21 2995 3000

Fax:

62 21 2995 3001

Key Executives for PT Medco Energi Internasional Tbk.

PT Medco Energi Internasional Tbk. does not have any Key Executives recorded.

PT Medco Energi Internasional Tbk. Key Developments

MEDC Seeks To Acquire Offshore Oil And Gas Blocks

PT Medco Energi Internasional Tbk. (JKSE:MEDC) is currently exploring the acquisition of offshore oil and gas blocks in Indonesia, Muhammad Lutfi, President commissioner told Reuters.

ENGIE, Marubeni Eyeing Chevron

ENGIE SA (ENXTPA:ENGI) and Marubeni Corporation (TSE:8002) are planning to place bids for Chevron Corporation (NYSE:CVX) assets. Sources familiar with the matter said that the firms are among several suitors preparing to bid for Chevron’s Asian geothermal energy blocks valued at about $3 billion. According to the news reported sources, seeking anonymity, as saying that the indicative bids are due later in April 2016. A senior company executive told Reuters that PT. Medco Power Indonesia is planning to bid for the assets. Sources added that Aboitiz Equity Ventures Inc. (AP.PS) and Banpu Power (BAP.BK) may also bid for the assets. Sources added that Chevron, which has engaged Citigroup as its adviser for the sale, has kicked off the auction in March 2016. The news report added that Chevron, Marubeni, Engie, Citigroup and Aboitiz declined comment. Banpu Public Company Limited (SET:BANPU) said that it will consider the terms and size of the assets before making a decision. “We have expressed our interest in seeing the data on its asset,” said Fazil Alfitri, President Director of Medco Power, a unit of PT Medco Energi Internasional Tbk. (JKSE:MEDC).

PT Medco Energi Internasional Tbk. Reports Earnings and Production Results for the Year Ended December 31, 2015; Provides Production Guidance for 2016

PT Medco Energi Internasional Tbk. reported earnings and production results for the year ended December 31, 2015. For the period, the company reported gross profit of USD 208 million and USD 90 million operating profit. EBITDA was USD 217 million despite an oil price decline of almost 50% whereas realized gas prices were essentially stable, reflecting the company's mix of oil and fixed price gas contracts. Oil production was stable year on year at 31.6 MBOPD, despite the turmoil in Yemen and was the result of successful efforts to mitigate natural decline in the domestic assets. Gas sales declined slightly reflecting lower customer demand in 2015. For 2016, production is expected to be in the range of 55 MBOEPD to 60 MBOEPD.

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