Our Approach

Stakeholders

MedcoEnergi prioritizes continuous stakeholder engagement to gain a comprehensive understanding of stakeholder expectations, priorities, and needs. This proactive approach enables us to effectively address concerns and maintain a strong social license to operate. We view our stakeholders as valued partners, and through regular engagement and campaigns, we actively seek their feedback to inform and strengthen our targets and programs. Stakeholder engagement is strategically targeted based on their priorities, alignment with our core values, and resource availability. Ultimately, we aim to create long-term stakeholder value by fostering relationships built on mutual trust and transparency.

Shareholders

  • Holding annual shareholder meetings to present MedcoEnergi’s financial results, strategic decisions, and significant corporate actions.
  • Conducting routine meetings between our management team and investors.

Employees

  • Regularly engaging with worker unions representatives on a quarterly basis each year.
  • Organizing communication forums to resolve employee relations matters and discuss employment benefits, terms, and conditions.

Contractors, Suppliers and Business Partners

Incorporating updates on Corporate Governance principles, Corporate Values, Code of Conduct, Code of Supplier, and initiatives in Sustainability and Climate Change in our quarterly newsletter for domestic oil & gas contractors, suppliers, and business partners. Additionally, highlighting these topics during our annual Vendor Days dedicated to our partners in oil and gas and power subsidiaries.

Communities

  • Implementing stakeholder engagements and community development plans.
  • Promoting awareness of our grievance mechanisms through our Social Management System (SMS).
  • Leading anti-corruption collective action programs aimed at fostering integrity among youth and raising awareness about anti-corruption measures.

Government and Regulators

  • Regularly consulting and collaborating with government agencies to empower local communities, support our workforce, mitigate environmental and social impacts, and enhance our efforts to adapt to climate change.
  • Engaging regularly with authorities to provide input on drafts of climate change and environmental regulations.
  • Participating in government initiatives such as the Annual SDG Forum, EBTKE (Renewable Energy & Energy Conservation) Conference and Exhibition, and SKK Migas Media Engagement.

Banks and Investors

  • Annual disclosures of our ESG data in Sustainability Reports.
  • Submitting monitoring reports to our lenders.
  • Publishing quarterly investor updates on our website.
  • Collaborating with banks to adhere to the Equator Principles (EP) for project financing.
  • Conducting online and in-person non-deal roadshows focusing on sustainability and ESG themes.

Non-Government Organizations (NGOs)/Civil Society

  • Consulting and collaborating on programs and initiatives to empower local communities, support our workforce, and mitigate adverse environmental and social impacts.
  • Maintaining correspondence and communication channels to gather feedback.

Consumers

  • Contributing to government objectives of increasing natural gas use in Indonesia, Singapore, and Vietnam.
  • Supplying gas to Indonesian state-owned enterprise PT Pupuk Sriwidjaja Palembang, supporting fertilizer production for farmers in South Sumatra.
  • Delivering electricity to Indonesian state-owned electricity company PT Perusahaan Listrik Negara Persero through Medco Power.

Media

  • Engaging with the media through local and national press conferences.
  • Providing awareness and competency training for journalists in the oil and gas industry.

Academia

  • Partnering with universities to offer access to advanced research and expertise.
  • Implementing capacity-building programs and knowledge-sharing sessions for our workforce.

Membership and Initiatives

Partnering with diverse associations enhances our ability to collaborate and extend our influence within the energy sector. These partnerships not only enable MedcoEnergi to participate actively but also to lead and innovate in securing sustainable energy and natural resources. Additionally, our membership in BSR and CDP ensures we stay informed about industry trends, regulations, and best practices, allowing us to adopt effective strategies proactively.

CountryName of AssociationPosition
IndonesiaAssociation of Indonesian Oil & Gas Industry Remuneration Practitioners (APRIMI)Member
Auditors Forum of SKK Migas - KKKS (FAMI)Steering Committee
Indonesia Carbon Capture and Storage Center (ICCSC)Member
Indonesia Corporate Secretary Association (ICSA)Member
Indonesia Public Relations Association (PERHUMAS)Member
Hydropower Plant Developers Association (APPLTA)Member
Indonesian Business Council for Sustainable Development (IBCSD)Member
Indonesian Employers Association (APINDO)Member
Indonesian Chamber of Commerce and Industry (KADIN)Member
Indonesian Electrical Power Society (MKI) Member
Indonesian Environmental Impact Assessment Forum (FAI)Member
Indonesian Geothermal Association (INAGA)Member
Indonesian Petroleum Association (IPA)Board of Director
Indonesian Independent Power Producers Association (APLSI)Member
Indonesian Renewable Energy Society (METI)Board of Supervisors
International Society of Sustainability Professionals (ISSP)Member
IPA  - Ethics and Compliance CommitteeChairman
IPA - Environmental and Safety CommitteeSecretary
IPA - Energy Transition CommitteeMember
National Centre for Sustainability Reporting - Energy Sector (NCSRE)Chairman
Public Relations Forum of SKK Migas - PSC ContractorSteering Committee
The Climate Reality Project IndonesiaLeader
ThailandOil Industry Environmental Safety Group Association (IESG)Member
Petroleum Institute of Thailand (PTIT)Member
Society of Petroleum Engineers (SPE)Member
OmanOman Chamber of Commerce and Industry (OCCI)Member
Oman Society for Petroleum Services (OPAL)Member