Indonesian Energy Player Medco Aims To Keep Expanding [Forbes]
ConocoPhillips (COP)
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Source: Forbes
Hilmi Panigoro has diversified Medco into mining and renewables while continuing to expand in oil and gas as well—and moving ahead after a personal loss. uly was a significant month for Hilmi Panigoro, president director of Jakarta-based Medco Energi Internasional, known for its oil and gas operations. That month saw the IPO of copper-and-gold miner Amman Mineral Internasional on Indonesia's stock exchange, which at $10.7 trillion rupiah ($710 million) was the largest IPO in the country this year. Medco owns 21% of Amman, a stake that has helped broaden the company out of its base in fossil fuels. Add to the mix its expansion into renewable energy, with projects in geothermal and solar, and Medco today is a vastly different company from its roots, emerging as a diversified homegrown energy and mining powerhouse in Southeast Asia, with operations in nine countries. Panigoro, 68, says he wants to drive Medco to expand even more, either organically or through acquisitions. “The bigg
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COP
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- 11/6/25 - Beat
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Sec Filings
- 12/23/25 - Form 4
- 12/16/25 - Form 4
- 12/16/25 - Form 4
- COP's page on the SEC website