MedcoEnergi Oil and Gas Production Rises 18% in Q1 2026

PT Medco Energi International Tbk recorded an increase in oil and gas production in the first quarter of 2026. The rise occurred amid geopolitical uncertainty and volatility in global energy markets. MedcoEnergi posted oil and gas production of 170,000 barrels of oil equivalent per day (boe/d). That figure was up 18 percent from the same period last year. Energy supply is considered important as energy demand continues to rise to support economic growth. ‘Oil and gas production in the first quarter of 2026 rose significantly compared with total production of 156 mboepd in 2025. All development projects are proceeding on schedule,’ said Iwan during the discussion session ‘MedcoEnergi Today: Value. Focus. Growth’ at IPA Convex 2026, ICE BSD Tangerang, on Wednesday (20 May 2026). MedcoEnergi continues gas development through the Corridor Production Sharing Contract (PSC) in South Sumatra. The block is now producing in full under MedcoEnergi’s 70 percent ownership. The Sakakemang PSC project is targeted to enter the Final Investment Decision (FID) stage in Q3 2026. First production from the project is planned to commence in 2027. The company is expanding its regional operations through the Bualuang Phase 1 project in Thailand. The project is scheduled to start operations in Q2 2026. MedcoEnergi will also become the operator of the Cendramas PSC in Malaysia effectively by September 2026.