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Media Release

2018-01-26

MedcoEnergi Wins “Upstream Company of the Year”

JAKARTA, 26 January 2018 – PT Medco Energi Internasional Tbk (“MedcoEnergi”) is pleased to announce that the Company has received the “Upstream Company of the Year” award for 2017, at the recently concluded ceremony by the APAC Energy Council, January 24, 2018, held in Singapore.

MedcoEnergi was shortlisted amongst all the upstream companies in the Asia Pacific region and made it to the final shortlist of 3 nominees which included two foreign energy companies from Australia and Singapore.

In 2017 also, MedcoEnergi received two awards for “Deal of the Year” for the acquisition of the 40% operated interest in South Natuna Sea Block B and “Executive of the Year” awarded to given to our CEO, Roberto Lorato.

Ronald Gunawan, Director & COO of the Company, said “In 2017, MedcoEnergi transformed itself into an integrated offshore and onshore E&P Company through the acquisition of the operated 40% interest in South Natuna Sea Block B. We have been able to integrate the new asset seamlessly, without business interruption, while maintaining safe operations. We consolidated our various operating environments with greater efficiencies and have achieved current production costs of less than US$ 10 / BOE, hence continuing to deliver greater value for our stakeholders."

For more Background on the Council, their website is www.energycouncil.com