PT Medco Energi Internasional Tbk ( (PTGIF) ) has released its Q1 earnings. Here is a breakdown of the information PT Medco Energi Internasional Tbk presented to its investors.
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PT Medco Energi Internasional Tbk is a prominent Southeast Asian energy and natural resources company, primarily engaged in oil and gas exploration and production, power generation, and copper and gold mining, with operations centered in Indonesia.
In the first quarter of 2025, PT Medco Energi Internasional Tbk reported a robust financial performance, highlighted by strong EBITDA figures and strategic operational achievements. The company demonstrated resilience despite challenges such as seasonally low gas demand and maintenance activities.
The company’s financial metrics revealed an EBITDA of US$332 million, a net income of US$18 million, and cash reserves of US$876 million. Operationally, oil and gas production reached 143 mboepd, while power generation sales were 871 GWh. Strategic developments included the inauguration of new fields in the South Natuna Sea and a successful exploration in the Rimau Block.
Additionally, MedcoEnergi made significant strides in its power segment with the completion of the East Bali Solar PV project and the start-up of the Ijen Geothermal Phase 1 project. The company also issued US$400 million in senior notes and initiated a share buyback program, reflecting strong financial discipline.
Looking ahead, MedcoEnergi’s management remains focused on sustaining growth and enhancing its portfolio, with expectations of increased oil and gas production and power sales for the full year 2025, while maintaining cost efficiency and capitalizing on new opportunities.