MEDCOENERGI
9M 2025 Fact Book
PT Medco Energi Internasional Tbk (IDX Ticker: MEDC)
Financial Data 9M 2025 Consolidated Financials 4
Consolidated Capex Guidance 5
Operational Data Oil and Gas Production and Lifting 7
Reserves and Resources 8
Asset Portfolio 9 - 10
Simplified Funds Flow Structure 11 - 12
Active Gas Contracts 13 - 15
Debt Info Debt Maturity Profile: Bullet vs Installment Per 30 Sep 2025 17
ESG
Sustainability Report 19
Tracking Our Climate Commitments and ESG Performance 20
2
Financial Data
Profitability Ratios (%) | 9M 2025 | 9M 2024 YoY ∆% | |
Gross Margin | 37.5 | 38.1 | (1.7) |
Operating Margin | 28.6 | 30.1 | (5.0) |
EBITDA Margin | 53.9 | 54.9 | (1.9) |
Net Income Margin | 4.9 | 15.3 | (68.2) |
Financial Ratios (x) | 9M 2025 | 9M 2024 YoY ∆% | |
Current Ratio | 1.4 | 1.2 | 11.8 |
Debt to Equity | 1.7 | 1.6 | 8.4 |
EBITDA to Interest | 4.4 | 6.0 | (26.1) |
Net Debt to EBITDA | 2.3 | 2.0 | 13.5 |
Profit & Loss (US$ mn) | 9M 2025 | 9M 2024 YoY ∆% | |
Revenue | 1,757 | 1,783 | (1.5) |
- Oil and gas | 1,598 | 1,611 | (0.8) |
- Power | 133 | 163 | (17.9) |
- Services | 25 | 10 | 158.4 |
DDA | 437 | 436 | 0.3 |
Gross Profit | 658 | 680 | (3.1) |
S, G & A | 149 | 137 | 9.4 |
Operating Income | 503 | 537 | (6.4) |
EBITDA | 946 | 979 | (3.4) |
Net Income | 86 273 | (68.7) | |
Balance Sheet (US$ mn) | 9M 2025 | 9M 2024 YoY ∆% | |
Cash and cash equivalents1 | 755 | 672 | 12.5 |
Investments | 1,788 | 1,811 | (1.3) |
Fixed Assets | 3,711 | 3,243 | 14.4 |
Total Assets | 8,423 | 7,682 | 9.6 |
Total Liabilities | 6,038 | 5,436 | 11.1 |
- Loans | 1,688 | 1,134 | 48.8 |
- Bonds | 1,973 | 2,187 | (9.8) |
- Other Liabilities | 2,378 | 2,115 | 12.4 |
Equity | 2,385 | 2,246 | 6.2 |
Includes restricted cash
4
E&P Capex
2021
2022
2023
2024
9M 2025
2025
Guidance
2026
Guidance
Actual
83
231
262
365
276
Facilities
Development Drilling
43
21
116
106
121
131
168
176
156
103
400
415
Exploration
20
10
10
21
16
Power2 Capex (USD mn)
Power Capex
2021
2022
2023
2024
9M 2025
2025
Guidance
2026
Guidance
Actual
30
33
71
70
21
Gas IPP
Geothermal
15
8
29
3
52
19
27
35
12
5
30
15
Solar PV & Other Renewables
7
1
1
8
5
5
2024 & 9M 2025 included Oman 60 Capex
Medco Power Net Working Interest
E&P1 Capex (USD mn)
Operational Data
Asset | Working Interest |
Indonesia Assets | |
Corridor | 70.0% |
Senoro Toili | 30.0% |
Blok B Natuna | 40.0% |
South Sumatera Block | 65.0% |
Block A | 85.0% |
Madura | 67.5% |
Rimau | 65.0% |
Lematang | 100.0% |
Bangkanai | 70.0% |
Simenggaris | 62.5% |
Tarakan | 100.0% |
Sampang | 45.0% |
Production YTD Sep 2025 | ||
Oil Gas Total | ||
mbopd mmscfd mboepd | ||
2.1 297.8 55.6 | ||
2.1 94.0 20.4 | ||
6.3 62.7 18.1 | ||
1.5 34.9 8.2 | ||
0.7 25.9 5.3 | ||
0.0 20.3 3.6 | ||
2.7 2.3 3.0 | ||
0.0 15.2 2.6 | ||
0.3 11.3 2.4 | ||
0.0 7.7 1.4 | ||
0.9 2.2 1.3 | ||
0.0 5.1 1.0 | ||
16 .6 | 579 .3 | 122 .8 |
12 | 7.0 | 13.2 |
4.5 | 0.0 | 4.5 |
0.0 | 0.0 | 0.0 |
16 .3 | 7 .0 | 17 .7 |
Lifting YTD Sep 2025 | ||
Oil | Gas | Total |
mbopd | bbtupd | mboepd |
1.8 | 280.7 | 50.4 |
1.9 | 103.0 | 19.8 |
6.3 | 52.8 | 15.0 |
1.5 | 31.4 | 7.2 |
0.6 | 20.4 | 4.2 |
0.0 | 18.8 | 2.5 |
2.7 | 0.0 | 2.7 |
0.0 | 13.1 | 2.2 |
0.3 | 11.9 | 2.4 |
0.0 | 7.9 | 1.3 |
0.8 | 2.0 | 1.2 |
0.0 | 5.1 | 0.9 |
16 .1 | 547 .1 | 109 .9 |
11.8 | 5.5 | 12.7 |
5.2 | 0.0 | 5.2 |
0.0 | 0.0 | 0.0 |
17 .0 | 5 .5 | 17 .9 |
Oman 60 20.0%
Bualuang 100.0%
Yemen 9 25.0%
TotalOman KSF
58.5%
Total Production - with Service Contract9.0 0.0 9.0
9.0 0.0 9.0
33 .0 552 .6 127 .8 33 586 140 .5 Total All Production Service Contract 41 .9 586 .3 149 .5 42 .0 552 .6 136 .87
As of 30 Sep 2025:
Classification | Proved Reserves | Proved & Probable Reserves | Contingent Resources | |||||||||
Oil | Gas | Total | Oil | Gas | Total | Oil | Gas | Total | ||||
mbbls | mmscf | mboe | mbbls | mmscf | mboe | mbbls | mmscf | mboe | ||||
West Indonesia | 23,047 | 766,472 | 161,466 | 29,452 | 1,162,753 | 239,792 | 40,628 | 1,311,594 | 277,111 |
East & Central Indonesia Total Domestic | 13,340 | 741,662 | 154,016 | 21,114 | 1,020,570 | 214,967 | 17,102 | 895,405 | 180,356 |
36,387 | 1,508,134 | 315,482 | 50,566 | 2,183,323 | 454,759 | 57,730 | 2,206,999 | 457,467 | |
International | |||||||||
International Asset Total International Grand Total Domestic Proved Developed Reserves International Proved Developed Total Proved Developed Reserves | 39,679 | 48,300 | 48,973 | 61,055 | 64,689 | 73,502 | 27,985 | 3,094,709 | 565,983 |
39,679 | 48,300 | 48,973 | 61,055 | 64,689 | 73,502 | 27,985 | 3,094,709 | 565,983 | |
76,066 | 1,556,435 | 364,454 | 111,621 | 2,248,012 | 528,260 | 85,715 | 5,301,708 | 1,023,451 | |
24,226 | 726,307 | 157,271 | |||||||
29,709 | 6,486 | 30,957 | |||||||
53,935 | 732,793 | 188,228 | |||||||
9M 2025 2P Reserves Life Index (RLI) | |
Years | 11.2 |
9M 2025 2P Reserves Replacement Ratio (RRR) | |
5 - Years Average (%) | 187 |
9M 2025 2P Finding, Development and Acquisition Cost | |
5 - Years Average (USD/boe) | 5.8 |
8
Indonesia Assets
Asset | Working Interest | Expiry | Area (Km2) | 9M 2025 Production | Operator | Partner | Type of Contract | Profit Share to Contractor 1(%) | |
Crude Oil | Natural Gas | ||||||||
Corridor | 70.0% | 2043 | 2,095 | 55.6 | MedcoEnergi | Pertamina Hulu Energi Corridor 30% | PSC Cost Recovery | 22.29 | 39 |
Senoro-Toili | 30.0% | 2047 | 451 | 20.4 | JOB Pertamina - MedcoEnergi | Pertamina 50% Tomori E&P Limited 20% | PSC Cost Recovery | 35 | 40 |
South Natuna Sea Block B | 40.0% | 2028 | 11,155 | 18.1 | MedcoEnergi | Medco Daya Natuna 35% Prime Natuna Inc. 25% | PSC Cost Recovery | 15 | 35 |
South Sumatra Block | 65.0% | 2033 | 4,470 | 8.2 | MedcoEnergi | Medco Daya Makmur 35% | PSC Cost Recovery | 12.5 | 27.5 |
Block A, Aceh | 85.0% | 2031 | 1,681 | 5.3 | MedcoEnergi | Medco Daya Energi Nusantara 15% | PSC Cost Recovery | 15 | 40 |
Madura Offshore - Meliwis | 77.5% | 2027 | 849 | 3.2 | MedcoEnergi | Petronas 22.5% | PSC Cost Recovery | 20 | 35 |
Madura Offshore - | 67.5% | 0.3 | MedcoEnergi | Petronas 22.5% | PSC Cost Recovery | 20 | 35 | ||
Rimau | 60.0% | 2043 | 1,103 | 3.0 | MedcoEnergi | Bahtera Daya Makmur 35% Sumsel Energi Rimau 5% | PSC Gross Split | 58 - 61 | 48 |
Lematang | 100.0% | 2027 | 409 | 2.6 | MedcoEnergi | - | PSC Cost Recovery | 15 | 29.5 |
Bangkanai | 70.0% | 2033 | 1,385 | 2.4 | MedcoEnergi | Saka Bangkanai Klemantan 30% | PSC Cost Recovery | 15 | 35 |
Simenggaris | 62.5% | 2028 | 546 | 1.4 | JOB Pertamina - MedcoEnergi | Pertamina Hulu Energi Simenggaris 37.5% | PSC Cost Recovery | 15 | 35 |
Tarakan | 100.0% | 2042 | 180 | 1.3 | MedcoEnergi | - | PSC Gross Split | 58 - 63 | 65 - 67 |
Sampang | 45.0% | 2027 | 534 | 1.0 | MedcoEnergi | Singapore Petroleum Sampang 40% Cue Sampang Energy Pty 15% | PSC Cost Recovery | 20 | 35 |
Sakakemang | 45%2 | 2040 | N/A | - | MedcoEnergi | PC Sakakemang B.V. (Petronas) 45% MOECO 10% | PSC Cost Recovery | 26.8 | 37.5 |
North Sokang | 100.0% | 2040 | 1,124 | - | MedcoEnergi | - | PSC Cost Recovery | 35 | 40 |
West Bangkanai | 70.0% | 2043 | 5,463 | - | MedcoEnergi | Saka Energi Bangkanai Barat 30% | PSC Cost Recovery | 25 | 35 |
South Sakakemang | 80.0%2 | 2049 | N/A | - | MedcoEnergi | MOECO 20% | PSC Gross Split | 39 - 41 | 39 - 44 |
Beluga | 100.0% | 2053 | 8 | - | MedcoEnergi | - | PSC Cost Recovery | 40 | 45 |
Amanah | 40.0% | 2054 | 1,753 | - | MedcoEnergi | Sele Raya Sejati 30% KUFPEC Indonesia 30% | PSC Cost Recovery | 40 | 45 |
9 1) Effective Post-Government tax and any potential DMO and any local government taxes.
Effective Oct 2025, post-acquisition of Repsol's operating interest
International Assets
Country | Asset | Working Interest | Expiry | Area (Km2) | 9M 2025 Production | Operator | Partner | Type of Contract | Profit Share to Contractor1(%) | |
Crude Oil | Natural Gas | |||||||||
Oman | Karim Small Fields | 58.5% | 2040 | 907 | 9.0 | MedcoEnergi | Oman Oil Company 25% Eng. Abdul Rahman Barham 7.5% Vision Oil&Gas 5% Petrovest General Trade 4% | Service Agreement | 12 - 30 | N/A |
Block 60 | 20.0% | 2048 | 1,485 | 13.2 | OQ Exploration & Production LLC | OQ Exploration & Production LLC 60% Medco Daya Oman Block 60 Pte Ltd 20% | EPSA | 32 - 35 Depend on oil price | 20 - 40 Depend on production rate | |
Thailand | Bualuang | 100.0% | 2035 | 377 | 4.5 | MedcoEnergi | - | Concession | N/A | N/A |
Yemen | Block 9 Malik | 21.25% | 2030 | 4,728 | 0.0 | Calvalley Petroleoum Ltd. | Calvalley Petroleoum Ltd 42.5% Hood Oil Ltd 21.25% | PSA | 20 - 30 Depend on | N/A |
Tanzania | Blocks 1 and 42 | 20.0% | 2028 | 12,296 | - | Shell | Shell 60% Pavilion Energy 20% | PSA | 37.5 - 60 Depend on production rate | TBD |
Oman | Block 48 | 20.0% | 2025 | 2,995 | - | OQ Exploration & Production LLC | OQ Exploration & Production LLC 60% Medco Daya Oman Block 48 Pte Ltd 20% | EPSA | 20 - 30 Depend on oil price and production rate | 20 - 40 Depend on production rate |
Block 56 | 5.0% | 2045 | 5,808 | - | Tethys Oil | Tethys 65% Biyaq LLC 25% Intaj LLC 5% | EPSA | 12.5 - 25 Depend on production rate | 25 - 30 Depend on production rate | |
Mexico | Block 103 | 20.0% | 2023 | 1,999 | - | Repsol | Repsol 40% Petronas 40% | PSC | N/A | N/A |
Block 123 | 20.0% | 2023 | 3,099 | - | Petronas | Petronas 60% PTTEP 20% | PSC | N/A | N/A | |
Effective Prior-Government tax and any potential DMO and any local government taxes.
A new exploration license and an exploration license extension have been granted by the Ministry of Energy of Tanzania.
Mexico Block 10&12 is in relinquishment process, waiting for government approval to close the relinquishment process.
10