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Company Profile 2010 New Frontiers . New Discoveries The Energy Company of Choice INDEX Moving In The Right Direction 1 The Historical Beginning 5 Milestones 6 Vision, Mission and Values 8 Map of Operation Areas 10 Oil and Gas E&P Indonesia 12 Competency, Key to Global Exposure 14 Power Generation 16 Downstream Industries 18 Business Ethics 20 The Technology 22 People Development 24 Operating in a Safe and Responsible Way 26 Care for The Environment 28 Empowering Communities 30 MOVING IN THE RIGHT DIRECTION For over two decades, MedcoEnergi, the leading private national oil and gas company in Indonesia, has pursued a business progression that reflects our commitments towards economic growth, social welfare and environmental preservation. Darmoyo Doyoatmojo, CEO of MedcoEnergi Company Profile MedcoEnergi is an Indonesia-based group of integrated companies, engaged in the energy sector with a focus on Oil and Gas E&P, Power Generation and Downstream Industries. As an integrated group of companies engaged At MedcoEnergi, all project executions are carried in the energy sector, MedcoEnergi maintains out with adherence to the highest standards of a STRATEGY to build a portfolio of profitable Good Corporate Governance (GCG) and Safety, growth oriented businesses operating in three Health and Environment (SHE) with dedication major areas: Oil and Gas Exploration and to environmental protection and preservation Production (Oil and Gas E&P), Power Generation as well as the implementation of effective and and Downstream Industries. MedcoEnergi sustainable programs for Corporate Social also strengthens its competitive position as Responsibility (CSR). an established player in the global Oil and Gas E&P business. It continues to transform This strategy underpins MedcoEnergi’s position as its downstream business as a fuel distributor, one of the leading integrated energy companies producer of renewable fuels, and continues to in Indonesia, as well as a respected player in the innovate for the development of other energy global market for Oil and Gas E&P. related business opportunities through the allocation of capital in a new business incubator unit. At the same time, the Company commits to enhance its organizational effectiveness by instilling rigorous financial discipline, fostering a pervasive performance culture and competencies. 3 Company Profile THE HISTORICAL BEGINNING 1980 marked the historical beginning of MedcoEnergi as the first national drilling services company in Indonesia under the name of PT Meta Epsi Pribumi Drilling Company, which was established on 9 June 1980 by Arifin Panigoro and his partner Hertriono Kartowisastro. 5 MILESTONES 1980 Incorporated as an 1997 Entered into the 2003 Signed Gas Supply Indonesian drilling downstream industry Agreement with PLN (state- contractor. through a Joint owned power producer). Management Agreement 1992 Established an Oil and Gas to operate Pertamina’s MEI Euro Finance Ltd., a subsidiary. Methanol Plant on Bunyu subsidiary company of MEI, Island. issued USD 250 million Acquired technical assistance 144A Bonds through the contract and production 1999 Completed Corporate debt Singapore Stock Exchange. sharing contract for two restructuring, followed by oil and gas blocks in East Rights Issue of 10:11. 2004 Acquired Novus Petroleum Kalimantan from Tesoro. Ltd. 2000 Acquired three new 1994 Initial Public Offering working areas: Simenggaris, Inaugurated the Company’s as MedcoEnergi on the Western Madura and first gas-fueled power plant Indonesia Stock Exchange. Senoro-Toili. Discovery of in Batam Island, a Joint Ticker symbol is MEDC. oil field in Soka, South Venture with PLN Batam. Sumatra. 1995 Acquired 100% shares of Inaugurated the LPG plant PT Stanvac Indonesia from 2001 Discovery of new oil field in Kaji, South Sumatra. Exxon and Mobil. Matra-Nova, Sumatra. 2005 Acquired interest in Area 47 1996 Discovery of the giant oil 2002 Acquired 25% working in Libya; and Langsa block field, Kaji and Semoga, interest of the producing and Sembakung block in Rimau Block, South Sumatra. Tuban block. Indonesia MEI Euro Finance Ltd, a Signed Tanjung Jati O&M subsidiary company of MEI power agreement with PLN. issued USD 100 million Eurobonds through the Singapore Stock Exchange. Photography by Mike Perkins Company Profile MILESTONES 2006 Awarded a 45% working 2008 Signed a Production 2009 Signed Asset Purchase interest in Blocks 82 and 83 Sharing Agreement with Agreement with Energy in Yemen. the Ministry of Oil and Resource Technology GOM, Minerals Republic of Yemen Inc. for the acquisition of Commissioned Panaran for Block 82 and 83. Block 316, East Cameron II Gas-fired Power Plant Area, South Addition, OCS-G Completed the sale of PT 2x27.5 MW. Apexindo Pratama Duta 23803, Gulf of Mexico, USA. Tbk, a subsidiary in drilling Awarded the development rig services. Signed Head of Agreement of a geothermal project of between PT Medco Energi 300 MW capacity in Sarulla, Signed a CBM Production CBM Indonesia and Arrow North Sumatra. Sharing Contract (PSC) to Energy (Indonesia) Holdings carry out activities in the Pte Ltd. 2007 Launched exploration of first CBM development in Area 47 in Libya with six Indonesia in Musi Banyuasin Entered the gas distribution Regency, South Sumatra. discovery wells. and coal mining businesses under the “Incubator Launched pilot project for Business” unit. Enhanced Oil Recovery (EOR) in Rimau Block. Established PT Donggi- Senoro LNG (DSLNG). 7 VISION, MISSION, AND VALUES MedcoEnergi’s VISION is to become the Corporate Governance (GCG) and Safety, Energy Company of Choice for our investors, Health and Environment (SHE). shareholders, partners, and employees as Additionally, the Company is dedicated to well as for the greater public community. This environmental protection and preservation vision can only be attained if our MISSION, to as well as the implementation of effective develop profitable investment portfolios from and sustainable programs for Corporate energy resources, is carried out properly and Social Responsibility (CSR). We meet these responsibly. challenges through a continuous commitment MedcoEnergi’s challenge is to realize this to maintaining our Corporate VALUES - MISSION while at the same time ensuring Professional, Ethical, Open, and Innovative - that each project is executed on time, with across MedcoEnergi’s culture. adherence to the highest standards of Good Company Profile MedcoEnergi is strongly committed to the goals of sustainability for its business, the environment and communities in which it operates. By relying on the professionalism of its people, and adhering to good corporate governance, MedcoEnergi strikes a balance between economic, social and environmental performances in order to achieve long-term sustainability for the benefit of future generations. 9 MAP OF OPERATION AREAS MedcoEnergi operates in several countries with its major operation USA in Indonesia. In Indonesia, MedcoEnergi’s oil and gas Procurement and Construction (EPC) and business operates several producing and Project Management, as well as Operating exploration oil and gas blocks with locations and Maintenance (O&M) services. Meanwhile, stretched across the country from the far the Company’s downstream business has an west to the most eastern part. Internationally, LPG plant, fuel storage and distribution facility MedcoEnergi continues to operate a number of for High Speed Diesel (HSD), as well as the producing and exploration oil and gas blocks development of biofuel. and a Service Management Agreement. In the power generation business, MedcoEnergi operates as Independent Power Producer (IPP), and provides services in Project Engineering, Company Profile TUNISIA OMAN LIBYA CAMBODIA YEMEN INDONESIA 11 OIL AND GAS E&P INDONESIA Despite the fact that oil price was declining as demand was also declining, we are optimistic and confident that the energy business, especially the oil and gas business, will remain very promising in the coming years Darmoyo Doyoatmojo, CEO of MedcoEnergi Company Profile MedcoEnergi is the first Indonesian company operating in the oil & gas exploration and production business listed in Jakarta Stock Exchange since 1994. MedcoEnergi’s oil and gas activities in Indonesia focus on upstream activity, exploration, development and production of crude oil and natural gas. In support of the Government of Indonesia’s The GOI has entrusted MedcoEnergi with (GOI) increasing demand in oil and gas, participating interests over more than 10 MedcoEnergi began its Oil and Gas Exploration blocks that stretches from South Sumatra, and Production business since 1992 through the East Java, East Kalimantan, Central Sulawesi, acquisition of Tesoro’s East Kalimantan assets. to Papua, and has contributed significantly to The success in maintaining steady production the nation’s growth. MedcoEnergi operates of oil from East Kalimantan assets, enabled all of those blocks under various production the Company to acquire Exxon and Mobil Oil’s sharing arrangements with Upstream Oil and Stanvac Sumatra assets in 1995 and continued Gas Supervisory Agency (BPMIGAS) which is improving its contribution to the GOI. Since applicable to the new Indonesian Oil and Gas then, MedcoEnergi strives to increase its oil Law and Regulations, namely Production Sharing and gas production and proven reserves with Contract (PSC), Technical Assistance Contract its exploration, development and production (TAC) and Joint Operating Body (JOB). activities of mature fields and newly discovered fields, as well as acquiring
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