MedcoEnergi announces the acquisition of new stakes in two areas in South Sumatra. The Indonesian company announced the purchase of 45 % of the Sakakemang PSC and 80 % of South Sakakemang, both located in a region for gas development in the country.
MedcoEnergi’s strategic integration of energy assets
The acquisition follows the recent extension of the PSC Corridor, also operated by Medco, and the award of the PSC Amanah. These are established in an area rich in natural gas and with high production potential. In addition, the Sakakemang PSC has a development plan approved by the Indonesian government, which facilitates rapid operational implementation.
[post_relacionado]In parallel, MedcoEnergi has increased its stake in PT Transportasi Gas Indonesia(TGI) to 40%, giving it greater control over a strategic gas pipeline network. strategic pipeline network connecting connecting South Sumatra to markets in Riau, Batam and Singapore.
The acquisitions enhance the company’s presence in the region while aligning with the Indonesian government’s security-of-supply objectives. The integration of proven reserves, access to consolidated infrastructure and familiar regulatory frameworks supports the company’s sustainable growth approach.
Roberto Lorato, CEO of MedcoEnergi, mentioned that the US$90 million investment in these operations will contribute to strengthening the gas value chain in Sumatra and Java. In his words, these moves will generate stable cash flows and expand the company’s role as a key player in the regional energy sector.
Source and photo: MedcoEnergi / PDF