April 07, 2026 [Storage Terminals Magazine]- PT Medco Energi Internasional Tbk (“MedcoEnergi”) announced that its wholly-owned subsidiary, Medco Asia Pacific Limited, signed the Cendramas Production Sharing Contract (“Cendramas PSC”) with PETRONAS on 31 March 2026, with the PSC effective from 23 September 2026.

Medco Asia Pacific Limited will hold a 50 percent participating interest in the PSC and act as Operator, with joint venture partners DIALOG Resources Sdn. Bhd. and EnQuest Petroleum Production Malaysia Ltd each holding a 25 percent participating interest.

The Cendramas PSC is located within reasonable vicinity of MedcoEnergi’s South Natuna Sea Block B operations and shares similar geology and technical characteristics, enabling technical synergies and allowing the company to leverage its existing expertise in the region.

Hilmi Panigoro, president director of MedcoEnergi, expressed appreciation for PETRONAS’ trust in MedcoEnergi as operator of the Cendramas PSC, and noted the company’s anticipation of working with its partners to deliver safe, reliable, and efficient operations.

The Cendramas PSC supports MedcoEnergi’s broader strategy to expand its regional portfolio through disciplined execution and a continued focus on long-term value creation.