Medco nominated for Bisnis Indonesia Award 2002

JSX listed oil company PT Medco Energi International Tbk has been nominated for Bisnis Indonesia Award 2002 along with other 39 firms listed on the bourse, award organizer said on Wednesday.

The award will go to four categories of companies namely those with the best achievements in share performance in 2001; in share performance over the past 25 years; in financial and marketing performance in 2001; in financial and marketing performance over the past 25 years; and to the best Chief Executive Officer of publicly listed firm.

Medco is involved in oil and gas exploration and production. Founded in 1980 and starting commercial operation in the following year, Medco currently operates 35 oil wells in Sumatra and Kalimantan. It produces on average 82.2 million barrels per day (MBOPD) of oil and 77.2 million cubic feet per day (MMCFD) of gas. Medco?s subsidiary PT Apexindo Pratama Duta operates 15 onshore and offshore drilling rigs.

Bisnis Indonesia Award 2002 is held in conjunction with the 25th anniversary of Indonesian capital market, the 10th anniversary of Jakarta Stock Exchange operation, and the 17th anniversary of Bisnis Indonesia daily. (*)