NAMA : MUHAMMAD FAQIH HUSEIN
NPM : 17214215
KELAS : 1EA29
MATKUL : BAHASA INGGRIS (SOFTSKILL)
MATERI : ARTIKEL TENTANG BISNIS (ARTICLE ABOUT BUSINESS)
PT MEDCO ENERGI
INTERNASIONAL Tbk (MEDC)
PT Medco Energi International Tbk
(MEDC), through its subsidiary Medco Oman LLC got a 25-year contract extension.
It is stipulated in the Amendment Agreement KarimSmall Fields (Amendment KSF)
with Petroleum Development of Oman (PDO) on 28 April 2015.
President Director of PT Medco Energi International Tbk Mahfoedz Lukman said the contract amendment KSF is changing the commercial and technical aspects of the operation of the service contract KSF company that had previously been signed by PDO in 2006 for a contract period of 10 years.
"Some of the new things that set out in the Contract Amendment KSF, among others, additional contract period of 25 years," said Lukman, in a statement, in Jakarta, Wednesday (04/29/2015).
He added that changes in the contract to operate the oil field Karim Small Fields effective after the signing of the Amendment KSF, exploration program to drill three wells in the first two years.
There are three schemes for results that are determined by the cost of production, the scheme will provide a better economic value to the contractor, and the provision of incentives for the discovery of oil and gas (oil) based on the amount of resources or oil and gas reserves are found.
As an operator in the Karim Small Fields, Medco control 51 percent stake. While Kuwait Energy Company (KEC) and two local partners, and Oman Oil Company Exploration & Production (OOCEP) has the rest.
Since its operation in 2007, the family-owned company Panigoro it has managed to double oil production Karim Small Fields to reach peak production of 22 thousand barrels of oil per day (bpd) in 2012, with the total number of development wells have been drilled to date reaching more than 250 . Currently, the average amount of oil production by 17 thousand barrels per day.
"We are delighted with the new deal KSF contract, with the changes better commercial value as well as greater opportunities for exploration to find new hydrocarbon sources," he concluded. (Pew / ndw)
Then PT Medco Energi Internasional Tbk (Medco Energi), through a subsidiary, Medco Tunisia Petroleum Limited, has completed the acquisition of 100 percent stake in Storm Ventures International (Barbados) Ltd.
President and Chief Executive Officer (CEO) of Medco Energi, Mahfoedz Lukman said the transaction is effective from January 1, 2014 with a base price of US $ 114 million purchase.
The total value of the transaction amounted to US $ 127.7 million including working capital of US $ 13.7 million. Storm Ventures International (BVI) Ltd. is a subsidiary of Chinook Energy, Inc. listed on the Toronto Stock Exchange, United States.
"This transaction will add to the portfolio of assets Medco E & P abroad and to support the company's future growth," said Lukman, in Jakarta, Thursday (21/08/2014).
Approval of the Government of Tunisia and some partners of the blocks have been acquired on August 18, 2014.
In accordance with the applicable effective date since January 1, 2014, Medco Energi will have ownership interests in eight areas consisting of four exploration blocks, two blocks and two blocks production development.
Lukman stated, These assets, which have the potential for large oil and gas reserves, will make a significant contribution to the production of oil and natural gas and Medco Tunisia will be one of the major players of oil and gas in Tunisia.
Of the eight work areas, five are located on land and is located in the Ghadames Basin, namely Adam, Sud Remada, Bir Ben Tartar, Jenein and Borj El Khadra and three offshore, located in the Pelagian Basin, offshore northeast Tunisia.
MedcoEnergi will be the operator in six blocks, namely the Sud Remada, Bir Ben Tartar, Jenein, Cosmos, Hammamet and Yasmin.
Total current oil production of 2,800 BOPD of block Adam and Bir Ben Tatar. Future production levels will be increased to 16,000 BOEPD through in-fill drilling on the block Bir Ben Tartar production and field development Cosmos, Yasmin and Fushia which is scheduled for completion in 2018. (Pew / Gdn)
PT Medco Energi Internasional Tbk (MedcoEnergi) through a subsidiary also wholly owned, Medco Tunisia Petroleum Limited signed an agreement to acquire 100% shares of Storm Ventures International (Barbados) Ltd. (SVI) with Storm Ventures International (BVI) Ltd.
Director of Medco Energi Lukman said ownership Mafoedz into effect on January 1, 2014 at a purchase price of US $ 114.03 million. This price does not include the value of working capital that will be adjusted on completion of the acquisition.
Storm Ventures International (BVI) Ltd. is a subsidiary of Chinook Energy, Inc. listed on the Toronto Stock Exchange.
"SVI (together with its subsidiaries) is one of the companies active in exploration and production, with the participation of ownership rights in eight work areas E & P in Tunisia," Lukman said in Jakarta, Monday (06/16/2014).
In Tunisia, SVI has four exploration blocks, two blocks and two blocks development of production with a contract period of 30 or 50 years.
Of the eight work areas, five are located in the onshore and three offshore. All blocks are located in the area SVI productive hydrocarbon.
Five blocks in onshore Adam, Sud Remada, Bir Ben Tartar, Jenein and Borj El Khadra is located in the Ghadames Basin, a basin that is equal to the Company blocks in Area 47 Libya, with the findings of a large oil and gas and exploration success rate of 90 percent.
While the other three offshore blocks Cosmos, and Yasmin Hammamet is located in the Pelagian Basin, off the coast of Northeast Tunisia.
The acquisition will be completed after obtaining approval from the Government of Tunisia and several partners in these blocks.
Once the acquisition is completed, MedcoEnergi will add 2P oil and gas reserves and production of oil and gas as much as respectively 12.3 MMBOE and 2,800 BOEPD.
Current production levels are expected to be able to rise up to 16 thousand BOEPD through in-fill drilling in block production (Bir Ben Tartar) and the development of Block Cosmos and Yasmin are scheduled for completion in 2018 and could add 2P oil and gas reserves of 12.6 MMBOE.
"I am excited by this acquisition as it will strengthen and expand the presence of the company, especially in the MENA region. In addition, this acquisition will also support the development of the company through the development of oil and gas projects are new," he concluded. (Pew / NRM)
President Director of PT Medco Energi International Tbk Mahfoedz Lukman said the contract amendment KSF is changing the commercial and technical aspects of the operation of the service contract KSF company that had previously been signed by PDO in 2006 for a contract period of 10 years.
"Some of the new things that set out in the Contract Amendment KSF, among others, additional contract period of 25 years," said Lukman, in a statement, in Jakarta, Wednesday (04/29/2015).
He added that changes in the contract to operate the oil field Karim Small Fields effective after the signing of the Amendment KSF, exploration program to drill three wells in the first two years.
There are three schemes for results that are determined by the cost of production, the scheme will provide a better economic value to the contractor, and the provision of incentives for the discovery of oil and gas (oil) based on the amount of resources or oil and gas reserves are found.
As an operator in the Karim Small Fields, Medco control 51 percent stake. While Kuwait Energy Company (KEC) and two local partners, and Oman Oil Company Exploration & Production (OOCEP) has the rest.
Since its operation in 2007, the family-owned company Panigoro it has managed to double oil production Karim Small Fields to reach peak production of 22 thousand barrels of oil per day (bpd) in 2012, with the total number of development wells have been drilled to date reaching more than 250 . Currently, the average amount of oil production by 17 thousand barrels per day.
"We are delighted with the new deal KSF contract, with the changes better commercial value as well as greater opportunities for exploration to find new hydrocarbon sources," he concluded. (Pew / ndw)
Then PT Medco Energi Internasional Tbk (Medco Energi), through a subsidiary, Medco Tunisia Petroleum Limited, has completed the acquisition of 100 percent stake in Storm Ventures International (Barbados) Ltd.
President and Chief Executive Officer (CEO) of Medco Energi, Mahfoedz Lukman said the transaction is effective from January 1, 2014 with a base price of US $ 114 million purchase.
The total value of the transaction amounted to US $ 127.7 million including working capital of US $ 13.7 million. Storm Ventures International (BVI) Ltd. is a subsidiary of Chinook Energy, Inc. listed on the Toronto Stock Exchange, United States.
"This transaction will add to the portfolio of assets Medco E & P abroad and to support the company's future growth," said Lukman, in Jakarta, Thursday (21/08/2014).
Approval of the Government of Tunisia and some partners of the blocks have been acquired on August 18, 2014.
In accordance with the applicable effective date since January 1, 2014, Medco Energi will have ownership interests in eight areas consisting of four exploration blocks, two blocks and two blocks production development.
Lukman stated, These assets, which have the potential for large oil and gas reserves, will make a significant contribution to the production of oil and natural gas and Medco Tunisia will be one of the major players of oil and gas in Tunisia.
Of the eight work areas, five are located on land and is located in the Ghadames Basin, namely Adam, Sud Remada, Bir Ben Tartar, Jenein and Borj El Khadra and three offshore, located in the Pelagian Basin, offshore northeast Tunisia.
MedcoEnergi will be the operator in six blocks, namely the Sud Remada, Bir Ben Tartar, Jenein, Cosmos, Hammamet and Yasmin.
Total current oil production of 2,800 BOPD of block Adam and Bir Ben Tatar. Future production levels will be increased to 16,000 BOEPD through in-fill drilling on the block Bir Ben Tartar production and field development Cosmos, Yasmin and Fushia which is scheduled for completion in 2018. (Pew / Gdn)
PT Medco Energi Internasional Tbk (MedcoEnergi) through a subsidiary also wholly owned, Medco Tunisia Petroleum Limited signed an agreement to acquire 100% shares of Storm Ventures International (Barbados) Ltd. (SVI) with Storm Ventures International (BVI) Ltd.
Director of Medco Energi Lukman said ownership Mafoedz into effect on January 1, 2014 at a purchase price of US $ 114.03 million. This price does not include the value of working capital that will be adjusted on completion of the acquisition.
Storm Ventures International (BVI) Ltd. is a subsidiary of Chinook Energy, Inc. listed on the Toronto Stock Exchange.
"SVI (together with its subsidiaries) is one of the companies active in exploration and production, with the participation of ownership rights in eight work areas E & P in Tunisia," Lukman said in Jakarta, Monday (06/16/2014).
In Tunisia, SVI has four exploration blocks, two blocks and two blocks development of production with a contract period of 30 or 50 years.
Of the eight work areas, five are located in the onshore and three offshore. All blocks are located in the area SVI productive hydrocarbon.
Five blocks in onshore Adam, Sud Remada, Bir Ben Tartar, Jenein and Borj El Khadra is located in the Ghadames Basin, a basin that is equal to the Company blocks in Area 47 Libya, with the findings of a large oil and gas and exploration success rate of 90 percent.
While the other three offshore blocks Cosmos, and Yasmin Hammamet is located in the Pelagian Basin, off the coast of Northeast Tunisia.
The acquisition will be completed after obtaining approval from the Government of Tunisia and several partners in these blocks.
Once the acquisition is completed, MedcoEnergi will add 2P oil and gas reserves and production of oil and gas as much as respectively 12.3 MMBOE and 2,800 BOEPD.
Current production levels are expected to be able to rise up to 16 thousand BOEPD through in-fill drilling in block production (Bir Ben Tartar) and the development of Block Cosmos and Yasmin are scheduled for completion in 2018 and could add 2P oil and gas reserves of 12.6 MMBOE.
"I am excited by this acquisition as it will strengthen and expand the presence of the company, especially in the MENA region. In addition, this acquisition will also support the development of the company through the development of oil and gas projects are new," he concluded. (Pew / NRM)
PT Medco Energi Internasional Tbk (MEDC) also recorded operating revenues to US $ 552 million during the third quarter of 2014, or down 9.1 percent from the same period last year of US $ 613 million. The decline in oil prices in the international market has pressured the company's financial performance Panigoro the family owned energy.
The average selling price of crude oil during the third quarter 2014 the company approximately US $ 106.3 per barrel, down compared to the same period last year of US $ 108.5 per barrel. While the average gas price of US $ 5.6 per million British thermal units (mmbtu) rose 9 percent, from US $ 5.1 permbtu in 2013.
The increase in gas prices could not be separated from the success of the Company to renegotiate gas sales contracts. Until the end of September 2014, Medco has dredge oil and gas (oil) amounted to 41 million barrels of oil equivalent.
"Exploration and production of oil and gas sector contributed 94 percent of total sales" said President and CEO MedcoEnergi, Lukman Mahfoedz in Jakarta, Wednesday (29/10/2014).
Throughout the third quarter of 2014, Medco posted a gross profit of US $ 199 million and operating income of US $ 138 million. The Company managed to reduce operating costs by 10 percent from US $ 68 million in the third quarter of 2013 to US $ 61 million and record EBITDA (earnings before interest, taxes, depreciation and amortization) of US $ 215 million.
"The profit attributable to owners of the parent (net income from continuing operations of US $ 9.5 million, relatively stable compared with the same period last year," he said.
Findings of Oil and Gas
Throughout the third quarter of 2014, Medco has conducted exploration activities to find new oil and gas reserves in the Green Well-2, Block South Sumatra, Indonesia and the Well P2 and O2, Area 47, Libya.
Medcoi also completed the acquisition of 100 percent stake in Storm Ventures International (Barbados) Ltd. with Chinook Energy, Inc. ownership rights to participation in eight work areas E & P oil and gas in Tunisia.
Not only that, the company demonstrated its commitment to continue to develop the domestic gas market by signing two Gas Sales Agreement (GSA) with PLN and PT MEPPOGEN.
"The gas supply will be used for the generation of electricity in the region of North Kalimantan and South Sumatra," said Lukman. (Ndw)
nice info, tks
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