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MedcoEnergi is an energy company based in India. MedcoEnergi, short for PT Medco Energi Internasional Tbk, is an Indonesian energy company that was founded on June 9, 1980. Started as drilling contractors, MedcoEnergi has transformed into an integrated energy company with business involvement in oi and gas exploration and production, downstream and power generation. The company also operates two coal mine operations.
MedcoEnergi has the right to explore for and produce oil and gas under 15 different production sharing arrangements with BP Migas, Indonesia's national upstream oil and gas regulator, and in some cases, with Pertamina, Indonesia's state-owned national oil and gas company. As of December 31, 2008, MedcoEnergi produced crude oil and natural gas from nine contract areas located in Sumatra, Java, Sulawesi, Kalimantan and Natuna in Indonesia, and had six exploration contracts and one economic interest in other areas in Indonesia. MedcoEnergi also has stakes in fifteen U.S. blocks as well as one exploration block in Libya, two exploration block in Yemen, one exploration block in Tunisia and two exploration blocks in Cambodia. MedcoEnergi also holds one exploration and development service contract for producing block in Oman.
As part of a corporate strategy aimed at diversifying away from reliance solely on gas projects, MedcoEnergi has begun moving into coal mining via its wholly owned subsidiary, PT. Medco Energi Mining Internasional (MEMI). MEMI has obtained two Mining Rights for coal exploration in Nunukan, East Kalimantan, "through the acquisition of PT Duta Tambang Sumber Alam (DTSA) and PT Duta Tambang Rekayasa (DTR)."
On its website MedcoEnergi states that DTR project, which aims to produce 500,000 tons a year, would be commissioned in November 2011. The company states that coal from the 4 million ton resource would be crushed and loaded onto barges at its own private port and then barged 51 km to Nunukan Anch.It was announced in September 2011 that Medco was going to ship coal to China because of growing demand in the country.
DTSA's proposed project is currently being explored but the company is investigating a 250,000 tonne per annum mine to be commissioned in 2014.
Articles and Resources
- "Kalimantan Coal Exports to China to Start This Year: Medco" The Jakarta Globe, September 7, 2011.
- "Power", MedcoEnergi website, accessed September 2011.
- MedcoEnergi, "Coal Mining", MedcoEnergi website, accessed September 2011.
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