Oil, Gas and Consumable Fuels
Company Overview of PT Medco Energi Internasional Tbk.
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
SCBD Lot 11A
Jl. Jenderal Sudirman
Founded in 1980
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
PT Medco Energi Internasional Tbk Reports Earnings and Production Results for the Year 2014
Mar 30 15
PT Medco Energi Internasional Tbk reported earnings and production results for the year 2014. For the year, the company booked a total net oil and gas sales of USD 701 million a 15.2% lower than the previous year which was USD 827 million. The exploration and production of oil and gas business unit remains as a major contributor by providing 93.4% of the total sales and operating revenues of USD 750 million. The company also posted a operating profit for USD 161 million. EBITDA was calculated at USD 259 million, lower than 2013 figure of USD 351 million. The effective implementation of efficiency strategy as well as the success in reducing the company's borrowing costs through early repayment of several high-interest bearing loans has also contributed to a positive financial performance, maintaining a profit attributable to owner of the parent company amounting to USD 10.1 million, a decline of USD 2.5 million compared to USD 12.6 million in 2013.
For the year, the company has succeeded in arresting the natural decline rate of its matured oil fields in Indonesia by 7%. This is an achievement in and of itself when compared to the average natural decline rate of oil and gas production globally which is in the range of 20%-25%. The decrease in oil production in comparison to 2013 was also attributable to the relinquishment of Sembakung Block to PT Pertamina in December 2013. The company booked a total oil and gas production of 56,000 BOEPD which is lower than the 2013 production of 62,000 BOEPD.
Medco Energi Internasional to Sell Gas from Aceh’s Block A in Indonesia to Pertamina
Jan 29 15
Medco Energi Internasional has agreed to sell gas from Aceh's Block A in Indonesia to Pertamina. The gas sales and purchase agreement (GSPA) for Block A will be used to supply gas demand in the provinces of Aceh and North Sumatera. The final investment decision is expected by mid 2015 and the gas supply is due to start by 2017 for a 13-year contract period. It includes a total gas volume of 198 Trillion British Thermal Unit (TBTU) and a daily gas supply of 58 billion British thermal unit (BBTU) per day.
PT Medco Energi Internasional Tbk. Presents at Credit Suisse 6th Annual ASEAN Conference, Jan-08-2015
Dec 10 14
PT Medco Energi Internasional Tbk. Presents at Credit Suisse 6th Annual ASEAN Conference, Jan-08-2015 . Venue: The Ritz-Carlton, Millenia Singapore, 7 Raffles Avenue, Singapore 039799, Singapore.
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