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PT Medco Energi Internasional Tbk : MedcoEnergi Strengthens Domestic Gas Supply Through Sakakemang and Corridor Gas Commercialization Agreements
PT Medco Energi Internasional Tbk : MedcoEnergi Strengthens Domestic Gas Supply Through Sakakemang and Corridor Gas Commercialization
About this update from Pt Medco Energi Internasional Tbk
[{"type":"text","content":"\n MedcoEnergi Strengthens Domestic Gas Supply Through Sakakemang and Corridor Gas Commercialization Agreements\n \n \n Jakarta, May 21th 2026 - PT Medco Energi Internasional Tbk (\"MedcoEnergi\") has further strengthened its commitment to supporting domestic energy needs through the signing of several natural gas commercialization agreements during the 50th Indonesia Petroleum Association Convention and Exhibition (IPA Convex) held at the Indonesia Convention Exhibition (ICE) BSD City on May 20, 2026. These agreements are part of MedcoEnergi's ongoing efforts to ensure the availability of natural gas supply to meet Indonesia's energy demand.\n \n \n For the Sakakemang Block, Medco E&P Sakakemang B.V., representing the production sharing contract (PSC) partners of the Sakakemang Working Area and acting as the seller of the state's gas share, signed a framework Gas Sales Agreement (GSA) with PT Perusahaan Gas Negara Tbk and PT Pertamina Patra Niaga. The gas sales volume totals 159 TBTU for the 2027-2037 period, with an estimated value of approximately US$1.296 billion. Development of the Sakakemang Field is planned to be connected to the Corridor Working Area operated by Medco E&P Grissik Ltd. in order to optimize the use of existing domestic gas infrastructure.\n \n \n On the same occasion, MedcoEnergi, through its affiliate Medco E&P Grissik Ltd., representing the PSC partners of the Corridor Working Area, also signed the Fourth Amendment to the GSA with PT Perusahaan Gas Negara Tbk. The amendment includes an extension of natural gas distribution from the Corridor Block for Gas Fuel (BBG) needs in South Sumatra, Riau, Lampung, Banten, Jakarta, and West Java, in accordance with the allocation from Indonesia's Ministry of Energy and Mineral Resources (ESDM), amounting to 4 BBTUD through 2030.\n \n \n Ronald Gunawan, Director & Chief Operating Officer of MedcoEnergi, stated, \"This series of agreements reflects MedcoEnergi's commitment to continuously support the utilization of natural gas for national economic growth through field development, infrastructure optimization, and collaboration with various stakeholders.\" (*)\n \n \n \n PT Medco Energi Internasional Tbk (\"MedcoEnergi\") is a leading Southeast Asian energy and natural resources company listed on the Indonesia Stock Exchange (MEDC-IDX). MedcoEnergi has...