PT Medco Energi Internasional Tbk (MEDC) stated it had succeeded in virtually doubling oil and gasoline manufacturing to 160 thousand barrels of oil equal per day (mboepd) in 2023.
Within the information introduced by PT Medco Energi Internasional Capital Market Supervisor Ridho Wahyudi, Medco’s oil and gasoline manufacturing in 2018 was 85 mboepd, whereas in 2019 oil and gasoline manufacturing elevated to 103 mboepd, then the next 12 months oil and gasoline manufacturing was 100 mboepd.
In 2021, Medco succeeded in producing oil and gasoline of 94 mboepd. Then there was a major improve in manufacturing in two years, particularly to 163 mboepd in 2022 and 160 mboepd in 2023.
“The size of our oil and gasoline manufacturing has doubled in 5 years and is dominated by gasoline manufacturing. From a degree of 80 thousand barrels to 160 thousand barrels,” he stated on the 2024 Indonesia Petroleum Affiliation Convention and Exhibition (IPA Convex) at ICE BSD Tangerang, Tuesday (14/5).
Medco’s improve in oil and gasoline manufacturing is supported by various block operations. At present Medco Energi operates 12 manufacturing blocks, 1 growth block and three exploration blocks unfold throughout Natuna, Sumatra, Kalimantan, Java and Sulawesi. In whole, the nationwide personal oil and gasoline firm owns 36 oil and gasoline blocks unfold throughout three continents.
“Other than Indonesia, we now have oil and gasoline belongings outdoors Indonesia, some are produced in Oman and the biggest is in Thailand,” he defined.
Additionally learn: Medco Energi Runs Group Empowerment Program Round Oil and Gasoline Blocks
He emphasised that Medco Energi is dedicated to sustaining power safety by creating new wells reminiscent of these within the Hall Block, South Sumatra.
Other than working gasoline energy crops (PLTG), Medco additionally operates geothermal energy crops (PLTP) or geothermal and hydroelectric energy crops (PLTA) in Indonesia.
“We now have seven PLTGs unfold throughout South Sumatra, Batam and Riau. We even have a geothermal plant in Sarulla, North Sumatra and a mini hydro plant in West Java,” stated Ridho.
He added that for electrical energy efficiency, Medco Energi additionally opened constructive electrical energy gross sales of 4,155 gigawatt hours (GWh) in 2023.
“Of that quantity, 19% comes from renewable power sources,” he concluded. (Z-8)
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