MedcoEnergi 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.

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.

Today, we have expanded our operations from Indonesia to Oman, Yemen, Libya, and The United States of America.  MedcoEnergi is set to double its current production rate by 2015 by delivering successful major development projects and growing its reserves organically and inorganically. In our quest for growth and expansion domestically and globally, we always uphold the highest safety, health, and environmental standards.