MedcoEnergi has announced that its subsidiaries, Medco Energi Thailand (Bualuang) Limited and Medco Energi Thailand (E&P) Limited, have received approval from the Government of Thailand for an extension of the production period for the Bualuang Oil Field (Block B8/38) in the Gulf of Thailand. The production period has been extended until October 23, 2035, allowing the Company to continue its operations and further strengthen its commitment to the region.
The Company’s long-term development plan aims to enhance Bualuang's production and maximize asset value through investment in facility debottlenecking, workovers, development drilling, and near-field exploration.
Roberto Lorato Director & Chief Executive Officer of MedcoEnergi said, 'We are proud to receive this extension, which underscores our commitment to operational excellence and sustainable development in Thailand, while rewarding our investment proposition.'
Anastasia Mustika, General Manager of Medco Energi Thailand added, 'MedcoEnergi expresses its gratitude to the Government of Thailand, as well as to all stakeholders, including the Department of Mineral Fuels, local communities and contractors, for their support and collaboration in making this extension possible. This achievement reaffirms the Company’s long-term commitment to responsible energy production.'
The Bualuang production period extension aligns with MedcoEnergi’s strategic priorities to ensure sustainable growth and strengthen its position as a leading energy company in Southeast Asia.
Source: MedcoEnergi
