The national energy company PT Medco Energi Internasional Tbk\n(MedcoEnergi) has marked twenty years of its operations in Oman by\nreaffirming its long-term commitment to the partnership within the\nSultanate.<\/p>\n
\u201cWe are present as a partner ready to write the next chapter, and we\nintend to continue investing in the Sultanate of Oman over the long\nterm,\u201d stated MedcoEnergi President Director Hilmi Panigoro during the\ncommemoration of 20 years of MedcoEnergi\u2019s operations in Oman.<\/p>\n
In a statement received in Jakarta on Monday, Hilmi noted that Oman\nserved as MedcoEnergi\u2019s first gateway into the Middle East and remains\none of the most strategic pillars in the company\u2019s international\nportfolio. Since 2006, the company has operated the Karim Small Fields\n(KSF) under a Service Agreement with Petroleum Development Oman (PDO).\nIn 2015, in recognition of MedcoEnergi\u2019s proven capabilities in managing\nKSF, PDO extended the agreement for 25 years, lasting until 2040.<\/p>\n
Over the past two decades, this partnership has revitalised mature\nfields, producing more than 110 million barrels of oil, drilling over\n500 wells, and resulting in seven new field discoveries. According to\nHilmi, the partnership has also contributed to the sustainable\ndevelopment of Omani human resources. Across its operations in Oman,\nMedcoEnergi employs over 200 people, 86 per cent of whom are Omani\nnationals.<\/p>\n
\u201cWorking alongside the Oman Institute for Energy, the company is\ninvesting in the development of young Omani graduates to prepare the\nnext generation of national talent to lead the future of MedcoEnergi in\nOman,\u201d he said.<\/p>\n
MedcoEnergi\u2019s operations in Oman are supported by a strong safety\nrecord. As of March 2026, KSF successfully recorded six consecutive\nyears without a lost-time incident (LTI), surpassing 13 million\nman-hours without LTI.<\/p>\n
MedcoEnergi has also expanded its presence through a partnership with\nOQ Exploration & Production, acquiring a 20 per cent participating\ninterest in Block 60 and Block 48 in 2023. In 2025, Block 60 recorded an\naverage gross production of 67.8 thousand barrels of oil equivalent per\nday (mboepd), peaking at 77.2 mboepd in October, while appraisal\nactivities continue in Block 48 towards a potential Declaration of\nCommerciality. The company also holds a 5 per cent participating\ninterest in Block 56, which entered the structured field development\nstage following a Declaration of Commerciality in 2024.<\/p>\n
Looking ahead, MedcoEnergi plans to further expand its presence in\nOman over the next twenty years through sustained investment in KSF,\nBlock 60, 48, and 56, as well as through the development of Omani human\nresource capabilities in line with Oman Vision 2040.<\/p>\n
The 20th-anniversary commemoration of MedcoEnergi\u2019s operations in\nOman was attended by prominent Omani economist, academic, and business\nconsultant Dr Adham bin Turki Al Said, Oman\u2019s Minister of Energy and\nMinerals Salim bin Nasser bin Said Al Aufi, and other officials from the\nSultanate of Oman alongside company partners, held in Muscat on Sunday,\n17 May 2026.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/medcoenergi-reaffirms-long-term-partnership-commitment-in-oman-1780901172", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }