MedcoEnergi

What MedcoEnergi does

MedcoEnergi (legal name: PT Medco Energi Internasional Tbk) is Indonesia's largest publicly listed oil and gas company, founded in 1980 and headquartered at The Energy Building, SCBD, Jakarta. The company operates across three business segments — Oil & Gas (exploration and production under Production Sharing Contracts), Power generation, and Copper & Gold Mining — with upstream operations spanning Indonesia, Oman (20+ years of operations, including Blocks 60 and 48 with Enhanced Oil Recovery), Malaysia, and Tanzania (consortium member in the $42 billion LNG project alongside Shell, Equinor, ExxonMobil, Pavilion Energy, and TPDC). Its technical footprint includes a 70% controlling stake in the Corridor gas block (acquired for $425 million), accelerated development of the Sakakemang gas block on Sumatra targeting first gas by end of 2027, deepwater offshore LNG participation in Tanzania's Rovuma Basin (~47.13–57.54 TCF proven reserves), and methane reduction initiatives such as nitrogen gas blanketing at the Corridor Block, supporting a stated Net-Zero greenhouse gas trajectory over 25–35 years.

The company generates revenue primarily through commodity sales and contract-based production sharing arrangements in its Oil & Gas segment, alongside Power generation and one-time licensing-style revenue from Copper & Gold Mining. Pricing is not publicly disclosed and is governed by PSC and gas commercialization agreement (GSA) terms negotiated with state off-takers and partners, most prominently Pertamina in Indonesia. Its go-to-market is enterprise field sales via direct PSC relationships and consortium participation for mega-projects, supplemented by capital-markets activity: a dual listing on the Indonesia Stock Exchange (ticker: MEDC) and the U.S. OTCQX Market (since November 21, 2025), plus a USD 500 million bond issued in October 2023 with an 8.96% coupon. Reported revenue for January-September 2025 was USD 1.76 billion (down 1.12% year-on-year) with net profit of USD 85.65 million (down 68.66% year-on-year), against a stated 2026 production target of 170,000 BOE/day — the highest in company history.

MedcoEnergi also operates an internal bSafe mobile application supporting workforce safety onboarding and digital safety-card submission, and has ESG positioning anchored by membership in the Oil & Gas Methane Partnership (OGMP) 2.0 from November 2025. Customer concentration is anchored to large state-owned energy counterparties (notably Pertamina) through long-dated PSCs and GSAs, with further structural counterparty exposure to supermajor consortium partners in Tanzania. The company is led by CEO Roberto Lorato and sits within a 1,001–5,000 employee headcount band.

Name

MedcoEnergi

Legal name

PT Medco Energi Internasional Tbk

Website

https://medcoenergi.com

Company type

Public

Founded year

1980

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MedcoEnergi is Indonesia's largest publicly listed oil and gas company, operating exploration and production under Production Sharing Contracts across Indonesia, Oman, Malaysia, and Tanzania, with additional Power generation and Copper & Gold Mining segments and a 2026 production target of 170,000 BOE/day.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas

SIC

Oil & Gas Field Exploration Services (1382)

akta.pro primary industry

Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH)

Keywords

• Oil and gas exploration
• Upstream energy production
• Natural gas operations
• LNG project development
• Copper and gold mining

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Oil & Gas: Core upstream oil and gas exploration and production operations. MedcoEnergi is Indonesia's largest listed oil and gas company with international operations spanning Southeast Asia and the Middle East. Operations include production sharing contracts in Indonesia, Malaysia, Oman, and participation in Tanzania LNG consortium.
2. Power: Power generation segment operating alongside the oil and gas business.
3. Copper & Gold Mining: Mining operations in copper and gold, established as part of the company's diversified energy portfolio.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

MedcoEnergi is a diversified energy company engaged in the exploration, production, and commercialization of oil and gas resources, power generation, and copper and gold mining. Its operations span Indonesia, Oman, Malaysia, and Tanzania through production sharing contracts, gas commercialization agreements, and consortium arrangements such as the Tanzania LNG project alongside Shell, Equinor, and ExxonMobil. The company sells hydrocarbons and other energy commodities to state energy firms and enterprise offtakers under long-term contracts.

Product overview

MedcoEnergi operates as a diversified energy company with three core business segments: Oil & Gas (exploration and production), Power generation, and Copper & Gold Mining. The company also develops international energy projects including the Tanzania LNG project in partnership with Shell, Equinor, and ExxonMobil. Operations span Indonesia, Oman, Malaysia, and East Africa, with recent expansion into Sakakemang and Corridor gas blocks.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil & Gas MedcoEnergi's primary business segment covering exploration, production, and development of oil and gas resources across Indonesia, Oman, Malaysia, and Tanzania, including the Sakakemang and Corridor gas blocks and participation in the Tanzania LNG consortium.
• Power Power generation business segment operating within Southeast Asia as part of the company's diversified energy portfolio, supporting energy transition and renewable power targets.
• Copper & Gold Mining Mining segment focused on copper and gold extraction and production operations as part of the company's diversified energy and commodity portfolio.

Quantifiable outcome

• Methane emissions reduced by more than 1.5 million tonnes of CO2e, exceeding 2025 interim target toward Net-Zero within 25-35 years

Named customers2 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core, minor and flagship.

• PetronascoreStrategic or Co-development Partner · 5 May 2026Valaris announced a strategic collaboration with Petronas and Halliburton to support the development of Suriname's offshore assets, with Medco Energi referenced as an industry participant in regional offshore developments.
• DIALOGminorStrategic or Co-development Partner · 30 April 2026Enquest Plc signed a Cendramas production sharing contract in Malaysia involving Medco and DIALOG, expanding Medco's presence in Malaysia's offshore sector.
• Tanzania Petroleum Development Corporation (TPDC)flagshipStrategic or Co-development Partner · 1 January 2026TPDC is the state-owned national oil company of Tanzania and part of the landmark $42 billion LNG project consortium alongside Shell, Equinor, ExxonMobil, Pavilion Energy, and Medco Energi. The project aims to develop offshore deepwater gas reserves of approximately 47.13-57.54 TCF off the Indian Ocean coastline with anticipated production capacity exceeding 10 million tonnes annually, targeting first production around 2034.
• ShellflagshipStrategic or Co-development Partner · 1 January 2026Shell serves as a joint operator alongside Equinor of Tanzania's $42 billion LNG mega-project, which represents one of Africa's largest energy investments. The project targets 47.13 TCF of proven offshore natural gas reserves.
• EquinorflagshipStrategic or Co-development Partner · 1 January 2026Equinor serves as a joint operator alongside Shell of Tanzania's $42 billion LNG mega-project, with the Hassan administration's regulatory reforms since 2021 having restored investor confidence after Equinor's 2021 write-down.
• ExxonMobilflagshipStrategic or Co-development Partner · 1 January 2026ExxonMobil is part of the Tanzania LNG consortium developing approximately 47.13 TCF of proven offshore natural gas reserves, representing one of the world's largest LNG export projects.
• Pavilion EnergycoreStrategic or Co-development Partner · 1 January 2026Pavilion Energy is a member of the Tanzania LNG project consortium alongside Shell, Equinor, ExxonMobil, Medco Energi, and Tanzania's TPDC.
• PertaminacoreStrategic or Co-development Partner · 1 January 2026Medco signed a deal with state energy firm Pertamina to restart its ethanol plant as Indonesia prepares to mandate 10% bioethanol blending in gasoline. Also involved in domestic gas supply agreements.
• Oil & Gas Methane Partnership (OGMP)minorOthers · 6 November 2025PT Medco E&P Indonesia, a subsidiary of PT Medco Energi Internasional Tbk (MEDC), joined the Oil & Gas Methane Partnership (OGMP) 2.0, an initiative launched by the United Nations Environment Programme to improve methane emissions measurement and reporting in the oil and gas industry.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• INPEX Corporation: Japan's largest upstream E&P operator with significant Asia-Pacific and international production assets. INPEX is a relevant direct peer given its scale, its LNG-heavy portfolio, and its participation in large multi-country consortium projects analogous to Medco's Tanzania LNG involvement.
• EnQuest PLC: UK-listed upstream E&P operator with a portfolio centered on the UK North Sea and Malaysia. EnQuest is a direct peer and an explicit partner of MedcoEnergi in the Cendramas production sharing contract in Malaysia, operating in similar geographies and asset types.
• Woodside Energy: Australian-based international E&P company with LNG and upstream operations across Asia-Pacific and beyond. Woodside is comparable to MedcoEnergi given its LNG exposure, multi-country asset base, and focus on emerging-market resource development.
• Sapura Energy: Malaysian integrated energy company with upstream E&P and offshore services operations across Southeast Asia. Sapura Energy is a relevant peer given its Malaysian operating base, regional upstream portfolio, and involvement in Malaysian production sharing contracts alongside MedcoEnergi.
• Harbour Energy: UK-listed independent E&P company with diversified upstream operations including Asia-Pacific assets. Harbour Energy is comparable to MedcoEnergi as a mid-sized independent with international production and a focus on production growth through operated and partnered developments.
• PTT Exploration and Production (PTTEP): Thailand's national upstream E&P company with a diversified Southeast Asia and international asset base. PTTEP is directly comparable to MedcoEnergi given its regional upstream focus, multi-country footprint, and similar mix of operated and partnered production-sharing contracts.

Broad incumbents

• Equinor: Norwegian international energy major with significant global LNG and upstream operations. Equinor is comparable as a broad incumbent and explicit co-operator of the Tanzania LNG mega-project alongside MedcoEnergi, providing benchmark supermajor economics for the consortium.
• Pertamina: Indonesian state-owned national oil and gas company operating across upstream, refining, and downstream. Pertamina is a broad incumbent peer given its dominant Indonesian upstream position and role as MedcoEnergi's domestic gas offtake partner, though its portfolio is far broader than Medco's.
• Petronas: Malaysian state-owned integrated oil and gas major with global upstream, LNG, and downstream operations. Petronas is comparable to MedcoEnergi as a regional incumbent operating across the same Southeast Asian geographies, and is referenced in connection with regional offshore developments involving MedcoEnergi.

Emerging players

• Jadestone Energy: Asia-Pacific-focused upstream E&P company with assets in Australia, Malaysia, and Vietnam. Jadestone is comparable to MedcoEnergi given its regional Southeast Asian production focus, though at a smaller scale and with a more concentrated asset base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MedcoEnergi