MEDC Stock: Medco Energi Internasional Profile, Business, Performance and Risks

MEDC is the stock ticker for PT Medco Energi Internasional Tbk, Indonesia's largest national private energy company. Its core business covers oil and gas exploration and production, with additional operations in copper-gold mining and power generation. MEDC is part of Medco Group, founded by the Panigoro family.

MEDC stock summary

As of October 28, 2026.

MedcoEnergi's business

MedcoEnergi runs three core business lines. The largest is oil and gas exploration and production (E&P) through subsidiary PT Medco E&P Indonesia, with working areas spread across Sumatra (Block A, Rimau, South Sumatra, Lematang), Kalimantan (Tarakan, Simenggaris), Java (Bawean), and Sulawesi (Senoro-Toili). The company also operates South Natuna Sea Block B through PT Medco E&P Natuna.

Overseas, MEDC's E&P portfolio spans Area 47 in Libya, the Karim field in Oman, Block 9 Malik in Yemen, and several blocks in Tunisia. Since acquiring Ophir Energy plc in 2019, MEDC also holds working areas in Thailand (Bualuang and Sinphuhorm), Vietnam (Chim Sáo and Dua), and Tanzania (Blocks 1 and 4 in the Mafia Deep Basin).

The second line is copper and gold mining through PT Amman Mineral Nusa Tenggara, formerly PT Newmont Nusa Tenggara, acquired by MedcoEnergi in 2016 for about US$2.6 billion, roughly Rp34 trillion. The Batu Hijau mine in West Sumbawa, West Nusa Tenggara, is the main asset of this segment.

The third line is power generation through PT Medco Power Indonesia. It holds independent power producer (IPP) assets totaling 645 MW, and operates and maintains 2,450 MW of third-party plants across various locations. Its flagship asset is the Sarulla geothermal plant in North Sumatra with 330 MW capacity, described as the world's largest geothermal power plant. MEDC also holds an 11.1% stake in PT Donggi Senoro LNG, which produces 2 million tons of LNG per year in Banggai Regency, Central Sulawesi.

Brief history and IPO

MedcoEnergi was founded on June 9, 1980, by Arifin Panigoro under the name PT Meta Epsi Pribumi Drilling Company, initially as an oil and gas drilling contractor. In 1992, the company transformed into an E&P firm by acquiring exploration and production contracts in Tesoro, East Kalimantan.

1994 marked a turning point. The company changed its name to PT Medco Energi Internasional and officially listed on the Indonesia Stock Exchange. The following year, MEDC acquired 100% of PT Stanvac Indonesia and began operating Block Rimau and Block South Sumatra. Expansion continued with the discovery of the Kaji Semoga oil field in 1996 and entry into the downstream oil and gas business in 1997.

International expansion began in 2005 with a contract in Libya, followed by entry into Oman in 2006 and Yemen in 2008. 2016 marked another major milestone, when MEDC acquired Amman Mineral Nusa Tenggara and took over South Natuna Sea Block B. In 2017, the company completed a 3:1 rights issue that raised Rp2.64 trillion. The acquisition of Ophir Energy plc in 2019 rounded out MEDC's oil and gas portfolio expansion into Southeast Asia and Africa.

Shareholders and management

Based on shareholder registration data as of September 2026 reported by Stockwatch.id, MEDC's ownership structure is as follows:

The company's ultimate beneficial owner (UBO) is Hilmi Panigoro of the Panigoro family. MEDC's free float rose from 21.86% to 21.89% in September 2026, following a share disposal by one board member. At the same time, the number of retail shareholders fell by 2,763 accounts, from 51,650 to 48,887 Single Investor Identification (SID) holders.

The board of directors per that data: President Director Hilmi Panigoro holds 29,900,673 shares or 0.12%, Director Roberto Lorato holds 10,134,130 shares or 0.04% after selling 3 million shares from a prior 0.05% stake, Ronald Gunawan holds 58,345,032 shares or 0.23%, Sanjeev Bansal holds 40,436,623 shares or 0.16%, Amri Siahaan holds 35,201,789 shares or 0.14%, and Benny Setiawan holds 4,171,000 shares or 0.02%. The board of commissioners includes Yani Yuhani Panigoro with 12,794,506 shares or 0.05% and Yaser Raimi A. Panigoro with 4,161,653 shares or 0.02%, while Independent Commissioners Royke Tumilaar and Marsillam Simandjuntak hold no shares. Total director and commissioner ownership stands at 195,145,406 shares, or 0.78% of outstanding shares.

Recent financial performance

The sources we checked do not contain MEDC's revenue or net profit figures for recent periods. Available news coverage focuses more on stock price movement and market sentiment rather than quarterly financial reports. Readers wanting to check MEDC's current fundamentals should access official financial statements through disclosures at idx.co.id or the company's official website.

As qualitative context only, an October 27, 2026 Kontan.co.id report noted that oil prices holding above US$100 per barrel have historically been positive for oil and gas issuers like MEDC, since they tend to widen profit margins from oil and gas sales.

Dividends

No data on MEDC's dividend policy or payment history appears in the sources we checked. Readers wanting to know cum dates, dividend per share, or MEDC's dividend payout ratio should check official announcements directly at idx.co.id.

MEDC stock price movement

As of October 28, 2026, MEDC traded at Rp1,410 per share. This sits in the lower-middle part of its 52-week range of Rp1,005 to Rp2,000, roughly 40% above its annual low and still well below its annual high of Rp2,000.

Over the past month, MEDC fell 5.7%. Over three months, however, the stock rose 11.5%, and over the past year it gained 7.6%. This pattern shows fairly high short-term volatility even as the medium-term trend remains positive.

For comparison, Kompas.com recorded MEDC closing at Rp1,425 on August 19, 2026, up 6.34% in a single day and standing out as one of the biggest gainers on the Kompas100 index that day, even as the broader index fell 0.67% to 825.14. Average daily trading volume over the past three months stood at 55.67 million shares, indicating the stock trades fairly actively.

Recent news and catalysts

Several developments worth tracking:

• October 27, 2026 (Kontan Insight): WTI crude corrected 2.07% to US$101.13 per barrel and Brent fell 1.82% to US$114.60 per barrel, though both remained above US$100 per barrel. Escalating geopolitical tension in the Middle East was cited as the driver of oil price volatility, a factor that could widen margins for oil and gas issuers including MEDC.
• October 11, 2026 (Stockwatch.id): MEDC's free float edged up to 21.89% after Director Roberto Lorato disposed of 3 million shares. Meanwhile, the number of retail shareholders fell by 2,763 accounts in a month.
• September 16, 2026 (Liputan6): BNI Sekuritas included MEDC as one of its trading ideas ahead of the Fed's rate decision, amid the IHSG falling 1.13% with net foreign selling of Rp354 billion. BNI Sekuritas' Head of Retail Research Fanny Suherman noted the index could see a limited rebound, with support at 6,400-6,450 and resistance at 6,500-6,540.
• August 19, 2026 (Kompas.com): MEDC rose 6.34% to Rp1,425, becoming one of the biggest gainers on the Kompas100 index amid a broader index decline.

Peers on the Indonesia Stock Exchange

Risks

• Commodity price volatility. MEDC's revenue is heavily influenced by swings in global oil and gas prices. The October 27, 2026 Kontan report shows how overnight corrections in WTI and Brent prices directly affect sentiment toward oil and gas stocks.
• Ownership concentration. Two entities, PT Medco Daya Abadi Lestari and Diamond Bridge Pte Ltd, together control more than 72% of MEDC shares, leaving a free float of around 21.89% for the public.
• Shrinking retail investor base. September 2026 data showed MEDC's shareholder count dropped by 2,763 accounts in a month, from 51,650 to 48,887 SIDs.
• Regulatory and production sharing contract risk. MEDC's oil and gas E&P business depends on renewing production sharing contracts (PSC) with the government for each operated block.
• International geopolitical risk. Some of MEDC's oil and gas working areas are located in Libya, Yemen, and Tunisia, regions historically prone to political and security instability.
• Short-term share price volatility. A 5.7% drop in the past month, contrasted with an 11.5% gain over three months, shows this stock can move sharply within short periods.

What it means for investors

A few concrete things worth tracking, not buy or sell signals:

• Global oil prices. Since MEDC's revenue is closely tied to commodities, WTI and Brent moving above or below the US$100 per barrel level is a key signal. As of October 26, 2026, Kontan recorded WTI at US$101.13 and Brent at US$114.60 per barrel.
• Price position within the 52-week range. MEDC at Rp1,410 sits well below its annual high of Rp2,000. Movement toward that level or back toward the annual low of Rp1,005 can serve as a reference point for price momentum.
• Official financial reports. Since the news sources we checked don't include recent revenue or profit figures, check MEDC's quarterly financial statements directly at idx.co.id before making any decision.
• Changes in free float and director ownership. Monthly shareholder registration data can signal insider activity, such as Director Roberto Lorato's disposal of 3 million shares in September 2026.
• Sentiment from Fed policy and the rupiah. Oil and gas stocks like MEDC have shown sensitivity to U.S. rate expectations and the rupiah's exchange rate, as seen ahead of the September 2026 FOMC decision.

How to buy MEDC shares

One lot of MEDC stock consists of 100 shares. At Rp1,410 per share as of October 28, 2026, one lot is worth approximately Rp141,000. To buy this stock, investors need to open a securities account with a brokerage licensed by Indonesia's Financial Services Authority (OJK) and registered as an exchange member of the IDX. Once the account is active and funded, orders for MEDC shares can be placed through that brokerage's trading app.

FAQ

Does MEDC regularly pay dividends?

The sources we checked do not mention MEDC's dividend history. For confirmed dividend schedules and amounts, check official disclosures at idx.co.id.

How much is one lot of MEDC stock?

As of October 28, 2026, MEDC traded at Rp1,410 per share, making one lot (100 shares) worth Rp141,000.

Is MEDC part of the LQ45 index?

Not mentioned in the sources we checked. MEDC is confirmed as a constituent of the Kompas100 index, based on an August 2026 Kompas.com report.

Who controls MEDC's shares?

The controlling shareholder is PT Medco Daya Abadi Lestari with 51.50% of shares, followed by Diamond Bridge Pte Ltd with 21.46%. The ultimate beneficial owner is Hilmi Panigoro of the Panigoro family.

What's the difference between MEDC and ENRG?

MEDC is more diversified, spanning oil and gas exploration, copper-gold mining, and power generation, while ENRG (Energi Mega Persada) focuses mainly on oil and gas exploration and production.

When did MEDC list on the Indonesia Stock Exchange?

MedcoEnergi officially changed its name and listed on the Indonesia Stock Exchange in 1994, after being founded in 1980 as a drilling contractor.

This article is for informational purposes and is not a recommendation to buy or sell MEDC shares.