PT Medco Energi Internasional Tbk (MedcoEnergi) recorded an increase in oil and gas production in the first half of 2026. The company’s total production reached 170 mboepd, or thousand barrels of oil equivalent per day, up 19 percent from the same period last year.
MedcoEnergi Director and Chief Operating Officer Amri Siahaan said gas remained the company’s main production contributor. Around 72 percent of total production came from gas, in line with rising gas demand across the region.
“Gas accounted for around 72 percent of total production, in line with growing regional gas demand,” Amri said during an online public expose held in Jakarta on Wednesday.
For the full year 2026, MedcoEnergi is maintaining its oil and gas production target at 165–170 mboepd. The company has also retained its capital expenditure budget for its oil and gas business at USD 415 million.
The company’s financial performance also showed growth. In the first quarter of 2026, MedcoEnergi recorded revenue of USD 668.3 million, an increase of 19.2 percent compared with the same period a year earlier.
The company’s EBITDA also rose 5.7 percent to USD 351.1 million. Meanwhile, net profit increased significantly by 282.3 percent to USD 67.4 million.
Amri emphasized that the company remains focused on achieving its operational targets by maintaining cost discipline and sound balance sheet management. MedcoEnergi will also continue optimizing its core assets and pursuing measured expansion to create long-term value for shareholders and stakeholders.
Growth was also recorded in the power generation business through Medco Power. In the first half of 2026, electricity sales reached 2,323 GWh, growing 16.5 percent compared with the same period last year. The figure remains in line with the company’s full-year 2026 electricity sales target of 4,550 GWh.
In terms of clean energy, renewable energy accounted for 26 percent of installed capacity. The figure remains within the range of the company’s long-term target.
MedcoEnergi is also continuing several strategic projects to sustain production growth. Senoro Phase 2A reached full operations in June 2026, while the Bualuang Renewal Plan Phase I began producing in the second quarter of this year.
Meanwhile, development of Sakakemang is still underway, with first gas production targeted for the third quarter of 2027. These projects form part of the company’s efforts to strengthen current production while building a growth base for the coming period.
Amri said the company would maintain its growth momentum through disciplined execution of key projects, while continuing to focus on operational performance, cost control, and maintaining a healthy balance sheet.
Intan Permata is a lifestyle and culture writer at RakyatPost with a passion for wellness, fashion, modern living, and digital trends. She focuses on creating engaging and relatable content that connects with today’s readers through insightful storytelling and fresh perspectives. Intan regularly covers topics ranging from self-care and entertainment to social media culture and contemporary lifestyle movements across Southeast Asia.
