Company Profile on 1000 Words maximum in English:
BECOMING A STRONGER AND MORE RESILIENT COMPANY
Established in 1980, MedcoEnergi is a leading Southeast Asian energy and natural resources Company listed on the Indonesia Stock Exchange (MEDC-IDX). The Company focused on three key business segments: Oil & Gas, Clean Power Generation and Copper Mining.
MedcoEnergi has interests in 15 Oil & Gas properties in Indonesia, 11 of which are producing. The Company also has interests in 12 Oil & Gas properties in eight other countries with key producing assets in Oman, Thailand and Vietnam and other assets in Malaysia, Yemen, Libya, Tanzania and Mexico.
MedcoEnergi, through its wholly owned subsidiary Medco Power, operates in the power generation industry in Indonesia. Medco Power owns and operates nine small to medium-sized IPP power plants and is developing new power generation facilities while providing Operational and Maintenance services to its own and to third-party power plants. Medco Power promotes clean energy solutions and has interests in gas-fired, geothermal, hydro-electricity and solar PV power plants. This growing renewables portfolio and our interest in PT Amman Mineral Nusa Tenggara operated world class copper and gold mine positions us well to contribute to society’s energy transition.
MedcoEnergi is a regional leader in Environmental, Social and Governance best practice and our 4,000 employees apply their technical expertise and capital discipline to deliver value from our core businesses in Oil & Gas, Power Generation and Copper Mining. Our businesses are well placed to benefit from the rapid economic growth and expanding energy demand in Southeast Asia.
As the Company develops oil and gas for more than four decades, so does the fostering of the relationship to the community development programs. As part of the Company commitment to integrate the interest of the community into our business activities, The Company with the stakeholders develops programs matching with the social, economic, environmental potential and community needs. These programs include enhancing access to basic need, local economic development, education and training, and environment quality enhancement.
Medco E&P provides energy to support sustainable livelihood for communities surrounding the company operations areas. These programs are carried out through the community empowerment that are developed based on social, natural, human resources, physical and local financial capital in sustainable development principles. The objectives of the programs are to continuously empower and develop local potential with the principle of sustainable development, to increase the community’s productivity, and to enhance the community’s economic level.
By creating the synergy between the Company and the community in business, economic, environmental, and socio-cultural sustainability around the operational areas, the implementation of community development programs uses the following several approaches. These approaches are to support the environmental sustainability and local wisdom by its needs and potential of the available resource, encourage direct involvement and participation of all stakeholders, and encourage collective action of the people through establishment and strengthening the community’s spirit. The programs are carried out to increase the welfare of local communities with preserving the environment’s support capacity as well as the ecosystem.
Some of these empowerments comes in different programs. The organic SRI program, launched first in 2008 , supports the farmers surrounding the Company’s operation area near Aceh, South Sumatera, North Kalimantan, and Central Sulawesi. It facilitates the farming business through training and mentoring activities, the community manage to sustain organic farming method by using organic fertilizer, integrate pest management for environment and ecological balance, increase productivity and production quality, and strengthen the organizations and business development of the farm.
Rubber cultivation has also become one of the community program development started in 2011 in South Sumatera Block. Known as BUKOR (Budi Daya Karet Organik), the Company implements the program by mentoring, providing rubber nursery facilities, and facilitating business access for rubber cultivation. BUKOR implements this program by reaching its objectives to facilitate rubber farmers in understanding the cultivation techniques, encourage them to produce Local Micro Organism and compost, recycle crop residues, reduce dependence on chemical fertilizer, reduce pollution, and encourage farmers’ self-reliance.
On the women front, the Company has developed the Herb Medicinal Plant empowerment programs. It is a series of organic farming programs designed for housewives so they can utilize and apply the acquired knowledge in their own yards. This program includes mentoring on plants cultivation, processing, packaging, forming strengthening networks groups, and marketing of herbal products. This program produces home-scaled industries on herbal products approved the District Health Office.
Apart from medicinal plants, organic vegetables (known as SORGA for “sayuran organic”) has also become a farming program developed for the Aceh, South Sumatera, and North Kalimantan. A form of household scale vegetable planting utilizes the home yards, it is an effort to meet the household family needs. This reduces daily expenses by 50% and increases family income and later on evolved into an additional income for the family through joint land management and an activity to support the government program on food resilience.
In 2018, the Company determined that the mushrooms growing in unused oil palm piles in South Sumatera area was safe for consumption. This resulted in the initiation of mushroom cultivation program as new alternative source of additional income, which created the training and mentoring program for farmere groups in Lais Village, Musi Banyuasin, Trijaya Village, Musi Rawas, and Bangunsari village, Muara Enim.
The Fisheries Association’s Center of Fish Seeds was initiated in 2007 through the concept of grouper coral fish cultivation which are the most demanded fish among local people in Kabupaten Kepulauan Anambas (KKA). The program focused on grouper hatching techniques, such as spawning, eggs, and larvae. This program involved 125 fishermen from 12 villages, forming a fish cultivators’ group striving to fulfil the needs and demand for local businesses. Currently, this program has distributed a total of 39,667 fish seeds with a turnover worth Rp 1,245 billion.
The forest honeybee farming program in Lematang Block has been running since 2016 by utilizing Aps Cerana bees which uses food sources from the Acacia flowers. With the replacement of Acacia to Eucalyptus by the plantations rejuvenation in South Sumatera, the Company plants Xanthostemon to become the source of the nectar and restore the forest bee’s habitat. This become a tourist park and honey bee learning centre and honey sales.