JAKARTA – PT Medco Energi Internasional Tbk (MEDC), through its subsidiary, Medco E&P Grissik Ltd., has completed a 3D seismic acquisition in the Rebonjaro Field, Corridor Block, South Sumatra.

The seismic acquisition was undertaken in collaboration with the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) covering an area of 165 km². It will then provide crucial subsurface data to support planning for the next exploration drilling.

This initiative aligns with MedcoEnergi’s long-term strategy to optimise resource potential, maintain sustainable production, and ensure reliable energy supply in Indonesia.

“Sustained investment in exploration, development, and production optimisation is essential to ensure a reliable gas supply, bolster national energy security, and support economic growth,” said Ronald Gunawan, Director & COO of MedcoEnergi, in an official statement in Jakarta last Thursday (20/3).

For context, the Corridor Block plays a critical role in supplying gas to various key industries in Indonesia, including PT Perusahaan Gas Negara (PGN), PT Pertamina Hulu Rokan, PT Pupuk Sriwijaya, PT Perusahaan Listrik Negara (PLN), and PT Energasindo Heksa Karya, as per the government’s allocation.

As of February 2025, gas production in the Corridor Block was 5% higher than the target set in the 2025 Work Program & Budget (WP&B), reflecting operational efficiency and continuous performance improvements by MedcoEnergi.

On today’s trading session, Friday (21/3), MEDC’s share price fell 1% from IDR 1,000 to IDR 990 per share. MEDC's share price decline over the past six months has reached 20.72%.
(DK/ZH)