PT Medco Energi Internasional Tbk or MedcoEnergi is an Indonesian oil and gas company. The company 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. An early form of trade, barter, saw the direct excha ...

and Holding & Related Operations, Exploration for and Production of

Oil & Gas A fossil fuel is a hydrocarbon-containing material formed naturally in the Earth's crust from the remains of dead plants and animals that is extracted and burned as a fuel. The main fossil fuels are coal, oil, and natural gas. Fossil fuels may ...

Power Power most often refers to: * Power (physics), meaning "rate of doing work" ** Engine power, the power put out by an engine ** Electric power * Power (social and political), the ability to influence people or events ** Abusive power Power may a ...

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 p ...

Chemicals A chemical substance is a form of matter having constant chemical composition and characteristic properties. Some references add that chemical substance cannot be separated into its constituent elements by physical separation methods, i.e., wit ...

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 and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guine ...

n businessman Arifin Panigoro in 1980 and is headquartered in Jakarta, Indonesian. In October 2015, the company bought an interest in the Singa gas field in the Lematang Block located in

South Sumatra South Sumatra ( id, Sumatra Selatan) is a province of Indonesia. It is located on the southeast of the island of Sumatra, The province spans and had a population of 8,467,432 at the 2020 Census. The capital of the province is Palembang. The prov ...

for $22 million and, in May 2019, the company acquired

Ophir Energy Ophir Energy plc was an oil and gas exploration and production company based in London. It owned both operating and non-operating assets in Africa, Asia, and Mexico. History The company was founded by Alan Stein and Jonathan Taylor in 2004 with ...

in a deal valued at $517.6 million. Also in 2015, the company acquired the Lundin Petroleum AB's

asset for $22 million. Since 2020, the company is producing gas form the Meliwis Field,

East Java East Java ( id, Jawa Timur) is a Provinces of Indonesia, province of Indonesia located in the easternmost hemisphere 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 bord ...

. As of December 2021, the company has clinched a deal with ConocoPhillips to acquire the assets of ConocoPhillips Indonesia Holding Ltd (CIHL). The acquisition is 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.

References

External links

* {{DEFAULTSORT:Medcoenergi 1994 initial public offerings Companies based in Jakarta Companies listed on the Indonesia Stock Exchange Indonesian companies established in 1980 Oil and gas companies of Indonesia

History

Overview of personnel

See also

References

External links