MedcoEnergi (MEDC) Reports Profit of Rp 1.72 Trillion for 2025, Oil and Gas Production Rises

JAKARTA - PT Medco Energi Internasional Tbk (MEDC) recorded a net profit of US$101 million, equivalent to Rp 1.72 trillion (assuming an exchange rate of Rp 16,990 per US dollar), for the full year 2025. This profit represents a 72.5% decrease compared to the previous year, which stood at US$367 million. The decline was primarily caused by lower contributions from Amman Mineral Internasional, impairments on non-cash assets, dry hole drilling costs in the PSC Beluga block, and weakening commodity prices. CEO of MedcoEnergi, Roberto Lorato, stated that the profit reduction occurred despite the company’s operational performance showing growth, particularly in oil and gas (migas) production. “In 2025, we recorded strong performance for the company and its shareholders,” Roberto said in an official statement, quoted on Friday (3/4/2026). Operationally, MedcoEnergi’s oil and gas production increased to 156,000 barrels of oil equivalent per day (mboepd), driven by contributions from new fields such as Terubuk and Forel in the South Natuna Sea Block B, as well as strong performance in Oman Block 60. On the electricity side, electricity sales reached 4,371 GWh, with approximately 25% coming from renewable energy sources. Nevertheless, the net profit decline was influenced by several factors, including lower contributions from Amman Mineral Internasional, impairments on non-cash assets, dry hole drilling costs, and weakening energy commodity prices. From a financial perspective, MedcoEnergi’s liquidity remains well-maintained with a cash position of US$633 million at the end of 2025. Meanwhile, the net debt-to-EBITDA ratio stood at 2.0 times, still within the company’s target. The company also allocated capital expenditure of US$437 million throughout 2025, including for the development of oil and gas projects and renewable energy, as well as the purchase of the Marlin Natuna floating production storage and offloading (FPSO) facility to ensure production sustainability. “I am very satisfied with the 2025 performance. Entering 2026, we remain committed to delivering added value for stakeholders,” said Hilmi. For 2026, MedcoEnergi targets oil and gas production in the range of 165,000–170,000 mboepd and electricity sales of 4,550 GWh, in line with the company’s efforts to sustain performance growth amid global energy price dynamics.