1948 - 2024

Raisis Arifin Panigoro

Advisor of MedcoEnergi



It is with heavy heart that we announce the passing of Ibu Raisis Arifin Panigoro, MedcoEnergi's Advisor (2022 - 2024). Her service and contribution made her a role model for all of us.

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Login | Friday, 14 June 2024 |

MedcoEnergi: 35 Years as a National Private Oil and Gas Company

Media Release

2015-06-16

MedcoEnergi: 35 Years as a National Private Oil and Gas Company

Jakarta, June 16, 2015 - PT Medco Energi Internasional Tbk (MedcoEnergi) as the leading national private oil and gas company, celebrates its 35th birthday this month. MedcoEnergi was Indonesia’s first drilling services provider when founded in 1980 as under the name Meta Epsi Pribumi Drilling Company. Since then, MedcoEnergi has grown and become a world known publicly-owned local integrated energy company that has successfully expanded in seven countries.

Several outstanding achievements that have been obtained by MedcoEnergi up to its 35th year, include: started with three oil and gas blocks ownership in 1992, which now consists of 35 blocks located in three continents. The Company also became a role model in terms of conservation and environmental protection as its commitment to continue to implement best practices, in this regard, has successfully won the fourth Gold PROPER award in a row since 2011. MedcoEnergi is the first and only oil and gas exploration and production company in Indonesia to date to win this award, through Rimau Block. Whereas, other assets successfully received the Green PROPER. This achievement has been confirmed MedcoEnergi as a world-class energy company with a sustainable operation.

MedcoEnergi’s track record of success has been tried and tested over the past 35 years. This success, The Company believes, will be followed by the success of Major Projects being carried out such as the integration of Senoro Gas development project and Donggi Senoro LNG, EOR pilot project in Rimau, and the development of geothermal power plants, namely Sarulla, the largest single contract in the world. MedcoEnergi also managed to arrest the rate of production decline to only 7-8%. Abroad, MedcoEnergi has just received a 25-year contract extension in Oman as well as a 90% success rate in exploration activities in Area 47 Libya.

Lukman Mahfoedz, President Director of MedcoEnergi said, "I am proud of MedcoEnergi’s development until today. Thanks to the support and trust of all stakeholders, we continue to be on track in the energy business in Indonesia. MedcoEnergi’s contributions amounted to US$12 billion over 14 years in the form of the State's share oil and gas sales as well as tax payments. To that end, MedcoEnergi wishes the Government’s full support in order to continue to have the opportunity to work in the field of energy in Indonesia.(***)