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December 01, 2015 5:30 PM ET

Oil, Gas and Consumable Fuels

Company Overview of PT Medco Energi Internasional Tbk.

Company Overview

PT Medco Energi Internasional Tbk, together with its subsidiaries, is engaged in the exploration, development, and production of natural gas and crude oil in Indonesia, Asia, Africa, the Middle East, and the United States. It operates through Exploration for and Production of Oil and Gas; Services; Chemicals; Coal Mining; Trading; and Funding for Group Operations segments. The company has production sharing contracts (PSCs) in Sumatra, Kalimantan, East Java, and Central Sulawesi in Indonesia; and has interests in various oil and gas blocks located in Oman, Libya, the United States, and Yemen. It also owns and operates gas-fired and coal-fired power plants, as well as offers power project sup...

The Energy Building

52nd Floor

SCBD Lot 11A

Jl. Jenderal Sudirman

Jakarta,  12190


Founded in 1980

1,569 Employees


62 21 2995 3000


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

Newmont Says Firms Eyeing Indonesian Assets Yet To Meet "Sales Criteria"

Newmont Mining Corporation (NYSE:NEM) said discussions with firms potentially interested in acquiring its Indonesian assets have not met its "sales criteria". Arifin Panigoro, owner of PT Medco Energi Internasional Tbk. (JKSE:MEDC), was seeking government approval to acquire a 76% stake in Newmont's Indonesian unit, resources minister Rizal Ramli said on November 25, 2015. "Newmont receives expressions of interest in our assets from time to time, and consistent with our goal to improve our portfolio and balance sheet, we may consider proposals to acquire our assets," said Omar Jabara, the company's spokesman. "To date, no discussions related to our assets in Indonesia have met all of our sales criteria, which include fully committed funding representing fair value," he said, without naming any companies.

PT Medco Energi Internasional Tbk. Presents at Citi Indonesia Investor Conference 2015, Sep-09-2015

PT Medco Energi Internasional Tbk. Presents at Citi Indonesia Investor Conference 2015, Sep-09-2015 . Venue: Mandarin Oriental Hotel, Jalan M.H. Thamrin, Jakarta Pusat, Daerah Khusus Ibukota, Jakarta 10310, Indonesia.

Oman Extends Medco Contract

Petroleum Development Oman, LLC has extended its one-off production sharing and services agreement, with Medco Energi, paving the way for further development of the Karim Small Fields project in southern Oman. The original 10-year contract, which expires in 2016, has been extended to 2040. It grants Medco a fee from production as well as the reimbursement of all its costs for developing the heavy oil field cluster and includes an obligation to drill three exploration wells in the first two years. PDO said an initial $600 million contract covers the first five years from 2016-21, when around 100 new wells will be drilled. The sum should then increase by $80 million-$130 million per year depending on variables such as the production target and budget.

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