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Medco Energi is committed to contribute to the Nation’s economic growth and development.We have taken concrete actions to revamp our sustainability policies and business practices and take our strengths in the Energy sector for the benefit of the community in Indonesia.Work to integrate the Ophir assets and organization is well advanced and we are making good progress continuing to upgrade the combined Medco and Ophir portfolio.” Financial Highlights Hilmi Panigoro, President Director, said “I am pleased to see strong operational and financial results.The integration of Ophir operations will continue and secure our position as a leading Southeast Asia energy and natural resources company.” Medco Energi Announces Completion of Acquisition of Ophir Energy plc Jakarta, – PT Medco Energi Internasional Tbk today announces the successful completion of the acquisition of Ophir Energy plc in a recommended all cash offer valued at £408.4 million.Roberto Lorato, CEO said “These are very strong first quarter results driven by the ramp up of production from our Block A, Aceh field and solid performance from our other assets.The vote of confidence from rating agencies was pleasing, as was almost hitting our Net Debt to EBITDA target despite subdued oil prices of /bbl for the quarter.” JAKARTA, – PT Medco Energi Internasional Tbk (“Medco Energi” or the “Company”) is pleased to announce the successful issuance of a seven year 144A/Reg S US0 million (7NC4) bond with a 7.375% coupon.The customer is the state owned company Pertamina, with an agreed gas price of US$ 9.45 per MMBTU.
The approval by Ophir Energy Plc shareholders is clearly another milestone demonstrating our capability to deliver a complex, multi-jurisdictional transaction.
Hilmi Panigoro, President Director of Medco Energi, said, “We are delighted to have successfully completed the acquisition of Ophir, which firmly establishes Medco Energi as a leading oil & gas player in Southeast Asia.
This acquisition further underlines our strategy to selectively expand Medco Energi’s presence and we believe it will create value for all of our stakeholders.” announced its financial results for the quarter ending 31 March 2019 (“1Q 2019”).
Closing the transaction in second quarter will further strengthen our position as a regional integrated energy and natural resources company.” Jakarta, 10 November 2018 – PT Medco Energi Internasional Tbk (“Medco Energi” or the “Company”) announced the Limited Review of its consolidated financial statements for the period ending 30 September 2018 (“9M 2018”).
Roberto Lorato, CEO of the Company said that “Our nine months results were solid, with higher EBITDA and improved operating margins from continued cost discipline.The successful completion of the Block A Aceh gas development confirms our strong project capabilities, whilst the recent approval by Ophir shareholders of our acquisition of Ophir Energy is an exciting opportunity to acquire a complementary portfolio of assets, creating enhanced scale, diversification and growth opportunities for the benefit of our stakeholders, employees, partners and host countries.