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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.
Roberto Lorato, CEO of Medco Energi, said “The strong demand from bond investors reflects the Company’s record of consistent delivery on its commitments, both our operational performance and deleveraging plans.” Hilmi Panigoro, the President Director of Medco Energi, remarked “We are pleased with the final outcome of the bond issue, and also the credit ratings upgrade which reflects the confidence in our company.
The approval by Ophir Energy Plc shareholders is clearly another milestone demonstrating our capability to deliver a complex, multi-jurisdictional transaction.
Financial Highlights Hilmi Panigoro, President Director, said “The Company performed very well in 2018 despite a challenging business environment and our financial position has further strengthened on the back of our strong operational performance in the Oil, Gas and Power businesses.
The recent approval by Ophir Shareholders is clearly a milestone demonstrating our maturity and capability to manage a complex, multi-jurisdictional transaction.
In January 2015, Medco Energi inked a Gas Sales Agreement of over US$ 2 billion in value, monetizing 200 BCF reserves from the Block A Production Sharing Contract in Aceh Province, Indonesia.
The acquisition of this asset marks a monumental milestone for Medco Energi and our stakeholders including the Indonesian government.
We commit to maintain the world-class standards of safety, environmental stewardship and social responsibility, as well as high quality workforce.
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.