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History

Our Journey

Highlights of our journey of growth from a drilling company to become one of the leading oil and gas company in Southeast Asia.

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2020 Thursday, 31/12/2020 MedcoEnergi celebrates its 40th anniversary, weathers the challenges posed by the COVID-19 pandemic and the collapse of oil prices and energy demand.
2019 Tuesday, 31/12/2019 MedcoEnergi expanded its oil & gas business portfolio with the acquisition of Ophir Energy plc, to become a leading energy and natural resources in Southeast Asia.
2018 Friday, 28/12/2018 Received a 20-year of contract extension until 2042 for Tarakan Block, and until 2043 for Rimau Block; Commercial operation of the third unit of Sarulla Geothermal Power Plants
2017 Thursday, 30/11/2017 Completed 3:1 rights issue in December raising Rp2.64 trillion in proceeds; Acquired a controlling interest in Medco Power Indonesia with total shareholdership of 88%
2016 Thursday, 17/11/2016 Acquired an indirect ownership in a copper and gold mining company, Amman Mineral Nusa Tenggara; Acquired 40% Operatorship in the South Natuna Sea Block B
2015 Friday, 05/06/2015 Signed a gas supply agreement for Block A PSC gas with Pertamina with the agreed gas price of US$ 9.45/MMBTU; Received an additional 25 years of operation in Karim Small Fields, Oman
2014 Thursday, 20/11/2014 Acquired eight oil and gas working areas in Tunisia, through an acquisition of Storm Venture International (Barbados) Ltd.
2013 Wednesday, 31/07/2013 Secured project financing for Senoro for US$ 260 million; Completion asset swap with Salamander for Bangkanai with Simenggaris and Bengara.
2012 Friday, 28/12/2012 Acquired Malik Block 9, Yemen; Maiden shipment of 38,000 tons of coal; PROPER Gold for Rimau Block for two consecutive years
2011 Friday, 30/12/2011 Received commerciality approval for Area 47, Libya
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