MedcoEnergi
MedcoEnergi is the first Indonesian company operating in the oil & gas exploration and production business listed in Jakarta Stock Exchange since 1994. Now, MedcoEnergi has transformed itself from local company to become an energy company operating in Indonesia and overseas, with focus on Oil and Gas, power generation and renewable fuels.Our oil and gas exploration and production activities began when MedcoEnergi acquired Tesoro’s exploration and production contracts in East Kalimantan (TAC and PSC) in 1992 and 100% shares of PT Stanvac Indonesia from Exxon and Mobil Oil in 1995. Furthermore, along with the entrance of Mr. John Sadrak Karamoy in 1992.
The successful Initial Public Offering (IPO) in 1994 supported MedcoEnergi to expand the business into chemical industry which utilized gas reserves from the Tarakan Block. A Joint Operating Management Agreement with Pertamina to operate Pertamina’s methanol plant at Bunyu island, East Kalimantan was then
signed in 1997.
In 2004, MedcoEnergi expanded its existing upstream oil and gas activities by acquiring 100% shares of Novus Petroleum Ltd, an Australian oil and gas publicly listed company which had operations in Australian, United States of America, the Middle East and South East Asia, including Indonesia. In that same year, MedcoEnergi also started the operations of an LPG plant, which processed associated gas from oil production in the Kaji/Semoga fields into condensate, lean gas and LPG. Simultaneously, MedcoEnergi also started entering into gas fired power generation business.
Now MedcoEnergi has transformed itself into an integrated energy company with business involvement in oil and gas exploration and production, drilling services, methanol production and most recently, LPG production and power generation.
MedcoEnergi aims to continuously increase its oil and gas production within the next five years, enabling the Company to grow as a company with market capitalization of more than USD 1 billion.
| Type: | NORMAL |
| Address: | The Energy 52nd Fl. SCBD Lot 11A Jl. Jend. Sudirman The Energy 52nd Fl. SCBD Lot 11A Jl. Jend. Sudirman The Energy 52nd Fl. SCBD Lot 11A Jl. Jend. Sudirman Jakarta 12190, Indonesia |
| Website: | http://www.medcoenergi.com/ |
| Phone: | (62-21) 2995 3000 |
| Fax: | (62-21) 2995 3001 |