MedcoEnergi (MEDC) Steps Up Oil and Gas Production Amid Global Turmoil

MedcoEnergi boosts oil and gas production amid global geopolitical uncertainty, supply chain disruptions, and volatility in world energy markets. In Q1 2026, MedcoEnergi’s oil and gas production reached 170 mboepd, up 18 percent from the same period last year. This performance strengthens the company’s position in maintaining national energy supply amid rising energy demand to support economic growth. Senior Vice President, Business Support, MedcoEnergi, Iwan Prajogi, said all development projects are proceeding on schedule despite the uncertain global conditions. ‘Oil and gas production in Q1 2026 rose significantly compared to total production of 156 mboepd in 2025. All development projects are on track,’ Iwan said at IPA Convex 2026 in ICE BSD, Tangerang, on Wednesday May 20, 2026. ‘Five decades of Indonesia’s energy partnerships form an important foundation to stride into the next growth era,’ he said. ‘MedcoEnergi is committed to continuing to take a role through measured, reliable project development that supports national energy resilience,’ he added. Amid rising energy demand, the company is also expanding its focus to various other energy and natural resources sectors to sustain long-term growth. Iwan said MedcoEnergi currently supplies around 21 percent of the nation’s oil and gas needs. The company also has a mix of asset classes from production assets, exploration, to development assets. In addition to operating power plants and gold mining, MedcoEnergi is also one of the largest copper mine operators in Indonesia. ‘When talking about volatility, when talking about turmoil, we always put ourselves in a conservative position. But that does not mean we do not take action as well,’ Iwan said. ‘If there is potential upside, we will certainly take advantage of it,’ he continued. According to Iwan, the company’s ESG achievements in 2025 were supported by technology deployment, implementing a five-year information technology strategy, and strengthening human resources. ‘We continue to push for operational efficiency and the utilization of modern technology to improve productivity and strengthen future investments,’ he said.