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Value. Focus. Growth. 2025 Annual Report PT Medco Energi Internasional Tbk
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In a year shaped by change and complexity, MedcoEnergi
sharpened its strategy and responded with clarity and
discipline. Value, Focus and Growth frame our priorities,
guiding how we allocate capital, build operational excellence
across our portfolio, and invest selectively to enhance scale
and expand our energy business. Through these three themes,
we strengthen operational and financial performance, build
long-term competitiveness, and grow our presence across
the markets we serve.
Marlin Natuna FPSO, South Natuna Sea Block B, Riau Islands
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Value. Focus. Growth. Value is built on the strength Operational excellence Growth is driven by selective of Medco’s engine: disciplined drives everything we do. investments that enhance capital allocation, efficient Through the rigorous scale, extend production operations and stable cash application of its principles, potential and expand our generation. By integrating we build efficiency and portfolio. By investing with capabilities across our businesses, resilience that underpin purpose, we strengthen our and executing with rigour, we long-term value for energy business and build the deliver consistent performance our stakeholders. foundation for future value. and reinforce long-term competitiveness.
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Bualuang Platform, Thailand
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Contents
Overview Sustainability Attachments
4 Our Presence 76 Sustainability Policy 120 Share Performance
6 2025 Highlights 77 Climate Action 121 Shareholding Composition
77 Developing Workforce Capabilities 122 Outstanding Securities
2025 Performance 78 Sustainability Highlights 128 Corporate Data
10 Report by the 79 Community Development 129 Company Offices and
President Commissioner Highlights Supporting Institutions
14 Report by the President 130 Company Structure
Director and the CEO Corporate Governance 132 Organisation Structure
18 Achievements that 86 Corporate Governance at a Glance 133 Ultimate Beneficiary
Defined Our Year 87 Implementation of Good Owner Structure
Corporate Governance 134 List of Abbreviations
Management Discussion 88 General Meeting of Shareholders 137 Cross Reference to
OJK Requirements
& Analysis 92 Board of Commissioners (BOC)
94 Board of Directors (BOD) 150 Financial Statements
22 Financial Review
27 New Sales Contracts 98 Nomination and Remuneration
28 Independent Accountant Procedures for the BOC & BOD
28 Material & Affiliate Transactions 99 Committees Reporting to the BOC
105 Committees Reporting to the BOD
106 Corporate Secretary
Business Activities
107 Corporate Audit &
32 Oil & Gas
Integrity Compliance
44 Power
108 Internal Control of
48 Copper & Gold Mining Risk and Compliance
52 Other Businesses 109 Corporate Sustainability
and Risk Management
Company Profile 112 Material Legal Cases
56 Who We Are 112 MedcoEnergi Code of Conduct
57 Vision, Mission and 113 Employees and Management
Corporate Values Shares Ownership Programme
58 Company History 115 Anti-Corruption
60 Value Creation Model 116 Whistleblowing Systems
62 Management 117 BOC & BOD Statement
66 People and Organisation
72 Financial Highlights
73 Operational Highlights
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2025 Management Business Company Corporate
4 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Our Presence
Thailand
25
24
11 12
1
Malaysia 10 15
26
27 16
Malaysia
Su
28 23
m
at
ra
30
13
Kalimantan
29 14
31
3
2
Headquarters 5
The Energy Building, Jakarta 4
6
Pipeline
West Natuna Transportation System
Grissik-Batam-Singapore
Grissik-Duri
Development Stages 32
33 7 8 9
Exploration Java
Development
34 35
Production 36 38
Installed Power 37
Oil & Gas
1 Block A 9 Madura 17 Senoro-Toili 22 Oman
2 Corridor 10 Beluga 18 Donggi Senoro LNG 23 Onshore Receiving Facility, Singapore
3 Sakakemang 11 South Natuna Sea Block B 19 Mexico5 24 Cendramas2
4 South Sumatra Region 12 North Sokang6 20 Tanzania 25 Bualuang, Thailand
5 South Sakakemang3 13 West Bangkanai6 21 Yemen
6 Amanah 14 Bangkanai 1
PSC awarded in March 2026
2
PSC signed in March 2026, effective in September 2026
7 Sampang 15 Simenggaris 4 3
PSC under acquisition, pending government approval
4
PSC under divestment, with a conditional Sale and Purchase Agreement (SPA) signed in
8 Nawasena1 16 Tarakan February 2026
5
PSC under relinquishment, pending government approval
6
PSC terminated in November 2025, pending government approval
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 5
19
22
21
20
18
17
Sulawesi
Papua
Power
26 Sarulla Geothermal 29 Bonjol Geothermal 32 Cibalapulang Mini-hydro 35 East & West Bali Solar PVs
27 Samosir Geothermal 30 DEB, MEB & ELB Gas-fired 33 Pusaka Mini-hydro 36 Sumbawa Solar PV
28 Riau Gas-fired 31 EPE & MPE Gas-fired 34 Ijen Geothermal
Copper & Gold Mining
37 Batu Hijau 38 Elang
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2025 Management Business Company Corporate
6 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
2025 Highlights
Oil & Gas
12 4
Oil & Gas 163 160
152 156
Production
(mboepd)
94 113
Onshore Offshore 129 128 111
Production Assets Production Assets 60
Gas
11 7 34 34 32 41 43
Oil
2021 2022 2023 2024 2025
Exploration & Presence
Development Assets in Countries
2P Reserves
82% 18%
and Contingent
Resources
1,154
(mmboe) 1,040 1,041
896
Onshore Production Offshore Production 996
28% 72%
Contingent
Resources
481 539 493 564
2P Reserves 389
Oil Production Gas Production 2021 2022 2023 2024 2025
Power
6
Operated Gas-fired IPPs
2
Operated Mini-hydro IPPs
2
Operated Geothermal IPP
2
Operated Solar PV
Power Sales, 4,155
4,371
4,371GWh 25%
4,108
Gas-Fired & 3,993
801 831 1,094
Renewables 855
(GWh) 2,718
Total Sales Renewables Sales
870
1,011MW 2,160 MW
3,138 3,353 3,277 3,277
Renewables 1,848
IPP Installed Capacity O&M Capacity Gas-Fired
2021 2022 2023 2024 2025
Copper & Gold Mining
Copper
& Gold
120,000 tonnes/day
Production
731 803
Processing Facilities 463
156
900,000 tonnes/year
Gold (Koz) 464 103
395
312
234 209
Copper (Mlbs)
2021 2022 2023 2024 2025
Smelter Capacity
Copper Cathode Production 79,849 tonnes (equivalent to
176 Mlbs)
Refined Gold Production 124.7 koz
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 7
Our People
6,300+
Employees
13,000+
Contractors
580+
Petrotechnical Professionals
21%
Female in Leadership
124,709
Training Hours
1,013
Training Courses
Environmental, Social & Governance
Improved MSCI ESG Rating1 Maintained CDP Score
AAA
AA
BBB
A A
B B
Nov 2021 Dec 2022 Nov 2023 Nov 2024 Mar 2026 2024 2025
1
In 2026, MedcoEnergi received a rating of AAA in the MSCI ESG Ratings assessment. MSCI Disclaimer
Statement on page 136
REDUCED EMISSIONS In 2025 from 2019 Base Year
Oil & Gas Scope 1 & 2 (GHG) Oil & Gas Methane (CH4)
30% 40%
Financial
Credit Ratings EBITDA (US$ million)
BB- BB-
B+ B+ B+
BB- BB-
B+ B+ B+
1,593
Ba3
1,255 1,272 1,264
B1 B1 B1 B1
667
idAA- idAA- idAA- idAA-
idA+
2021 2022 2023 2024 2025
2021 2022 2023 2024 2025
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2025 Management Business Company Corporate
8 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
2025
Performance
Block A Control Room, Aceh
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 9
10 Report by the
President Commissioner
14 Report by the President
Director and the CEO
18 Achievements that
Defined Our Year
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2025 Management Business Company Corporate 10 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Report by the President Commissioner MedcoEnergi delivered strong progress across its business segments in 2025, reflecting disciplined execution and operational excellence. The recent MSCI ESG AAA rating is a testament to our commitment to be an industry leader. Yani Y. Panigoro President Commissioner
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 11
Affirming Strong Progress
Through Disciplined Oversight AAA
MSCI ESG Rating
MedcoEnergi delivered strong progress across
its business segments in 2025, underscoring the Maintained CDP Score of B
Company’s continued focus on disciplined execution,
operational excellence, and its mission to serve
as a trusted provider of affordable, reliable,
25,000
and sustainable energy.
Under the oversight of the Board of Commissioners,
the Board of Directors ensured that MedcoEnergi Social Beneficiaries
continues to deliver meaningful benefits to the countries From support initiatives
and communities in which it operates. across 15 provinces
The Company remained operationally sound and
financially resilient in a challenging global environment,
thanks to the Directors’ ability to navigate complex
and shifting market conditions without compromising
operational excellence and safety. Their leadership
enabled MedcoEnergi to make tangible progress in
fostering an inclusive and respectful workplace and Exploration continued at the Bonjol and Samosir
remain a leader in sustainability by embedding geothermal projects in West and North Sumatra,
Environmental, Social, and Governance (ESG) respectively. Power sales in 2025 exceeded guidance,
objectives in strategic decisions across its with renewable energy accounting for 25% of
business segments. total sales.
In Mining, PT Amman Mineral Internasional Tbk (AMMN)
Evaluating Progress in
achieved first production of copper cathode and
Strategy Execution refined gold. We affirm MedcoEnergi’s strategic position
In 2025, the Directors remained focused on executing in AMMN as it manages challenges stemming from
the Company’s strategy across the Oil & Gas, Power smelter ramp-up issues and Indonesia’s restrictions
and Mining segments. They continued to allocate capital on concentrate exports. Copper plays a critical role in
prudently, strengthened risk management, and leveraged global energy transition efforts, and this investment
opportunities to enhance the Company’s portfolio supports MedcoEnergi’s long-term growth and
across segments. sustainability objectives.
As a result, the Company achieved major milestones in Ensuring Stability Through
Oil & Gas exploration and production (E&P), brought more Strong Governance
renewable energy projects onstream, and attained key
sustainability targets. The Board of Commissioners carried out its
oversight responsibilities through structured and
Oil & Gas production was in line with guidance, aided ongoing engagement with the Board of Directors.
by first production at Terubuk and Forel fields in South In 2025, five joint meetings were held to review
Natuna Sea Block B. In South Sumatra, MedcoEnergi the Company’s operational and financial
strengthened its gas production and supply capabilities performance, approve its annual work plans
through strategic acquisitions. The Company also and budgets, and monitor its progress against
progressed its E&P sustainability agenda, surpassing strategic priorities.
its 2025 target for Scope 1 and 2 greenhouse gas
emissions reductions. To support the effective discharge of its duties,
in 2025 the Board of Commissioners conducted
In the Power segment, renewables capacity expanded operational site visits and enhanced its collective
with the commencement of commercial operations at capabilities through participation in external social
the Ijen Geothermal and East Bali Solar PV power plants. and academic boards and committees.
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2025 Management Business Company Corporate
12 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Report by
the President Commissioner
Strong governance and clear focus underpin our performance,
advancing climate action and portfolio resilience, and positioning
the Company for sustainable growth and long-term value.
The four committees reporting to the Board played an AAA in March 2026, placing the Company among leading
integral role in strengthening governance, oversight, performers in its peer group. The upgrade reflects
sustainability, and risk management. The Audit Committee continuous improvements in Biodiversity and Land Use,
met quarterly and provided assurance on the integrity of Waste Management, Community Relations, Health
financial reporting, the effectiveness of internal control & Safety, and Corporate Behaviour, as the Company
systems, and compliance with applicable regulations. The continues to embed sustainability into all aspects
Nomination & Remuneration Committee convened three of its business. The Company also maintained a
times to evaluate the performance of the Board against CDP score of B, reflecting continued progress in
agreed KPIs, and to ensure remuneration structures are climate-related actions.
aligned with long-term value creation.
We commend the Management for achieving 97% of the
The Sustainability & Risk Management Committee met Company’s 2025 Tier-1 Sustainability KPIs and Targets and
six times during the year to oversee group-wide risk 92% of Tier-2, as well as for ensuring MedcoEnergi met its
management, the Company’s key business risks, as 2025 interim climate targets and remained on track to meet
well as its sustainability and climate agenda. The Good its 2030 goals.
Corporate Governance Committee continued to reinforce
governance practices through oversight of the Code of We recognise the Company’s strong health and
Conduct, anti-corruption initiatives, and Whistleblowing safety performance, evidenced by zero fatalities and
Management System, ensuring alignment with regulatory a Total Recordable Injury Rate (TRIR) significantly
requirements and international standards. below industry benchmarks. We also acknowledge
continued investment in workforce capability
We commend the Directors for their continued adherence development through training programmes including
to corporate governance frameworks, their focus on digital transformation initiatives, aligned with Medco
strengthening risk management and policy implementation, Leadership Behaviours.
prioritisation of safety and integrity, and commitment
to advancing sustainability objectives, particularly The launch of the Respectful Workplace Policy reinforces
emissions reduction through specific initiatives and the Company’s commitment to providing a safe and
operational excellence. supportive working environment. Women are playing
an increasingly important and equal role in overseeing
Embedding Sustainability strategic initiatives; the proportion of women in leadership
roles at MedcoEnergi has now exceeded 20%.
We affirm the Directors’ strong emphasis on sustainability,
including workforce safety and well-being, and the integration We note the Management’s efforts to embed sustainability
of sustainability considerations into strategic decision-making throughout MedcoEnergi’s operations, guided by our
across all business segments. sustainability roadmap and supported by governance
structures, policies, procedures, and organisational
MedcoEnergi’s ESG performance continued to strengthen
capability building. The Company’s decision to join the
in 2025, reflected in the upgrade of its MSCI ESG rating to
Oil and Gas Methane Partnership (OGMP) 2.0 underscores
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 13
our commitment to reducing methane emissions, In Power, the Company will continue to enhance its ESG
while the launch of in-house asset-level Climate performance and expand its energy transition capabilities,
Change Risk Assessments reflects strengthened including initiating more Solar PV and Geothermal
internal capability. generation capacity.
MedcoEnergi expanded its social support initiatives, At AMMN, priorities will centre on smelter ramp-up
including disaster relief efforts in Sumatra and Thailand, and expanding its processing plant to increase its
where the Company and its employees mobilised rapidly volume capacity.
to provide relief, including basic logistics, clean water,
heavy equipment, and medical support for affected The Commissioners remain confident in MedcoEnergi’s
communities. Collectively, the Company and its strategic direction and its role as a key contributor
employees contributed approximately US$500,000 to a sustainable and resilient energy future. We
towards these relief efforts. Our housing programmes reaffirm our commitment to providing oversight
built 47 units and we empowered 52 local micro, and guidance to ensure the Company continues to
small, and medium enterprises (MSMEs). Notably, deliver long-term value amid geopolitical uncertainty
the Company commemorated its 45th anniversary and market volatility.
through nationwide blood donation drives across its
Appreciation and Gratitude
operational areas in Indonesia, mobilising employees
and partners to contribute towards a target of On behalf of the Board of Commissioners, I extend
1,000 bags of blood to support the country’s blood our sincere appreciation to our shareholders for
transfusion needs. their continued trust and support of the Company
and its leadership. We also express our deep
MedcoEnergi invested US$2.3 million in various social gratitude to our colleagues, whose professionalism
initiatives across its operations. In Indonesia, these and dedication serve a purpose greater than
programmes positively impacted over 25,000 beneficiaries business achievements.
across 15 provinces. The Commissioners remain committed
to guiding the Company in its commitment to pursuing The continued support of our vendors and partners,
responsible growth and creating positive impact for host countries, and local communities remains essential
key stakeholders. to the success of MedcoEnergi’s mission, and we are
grateful for their collaboration.
Looking Ahead
We thank the Management for its leadership and
The Board of Commissioners endorses MedcoEnergi’s commitment throughout a challenging year and for its
2026 theme of creating Value through disciplined capital dedication to MedcoEnergi’s mission of building long-term
allocation and execution; maintaining Focus on operational value with a portfolio of sustainable energy and natural
excellence; and achieving Growth through selective resources businesses.
investments and partnerships that enhance scale,
extend production potential and expand our renewable
energy footprint.
We are confident that these principles will help building
a strong and sustainable energy business.
In Oil & Gas, the Company’s priorities include new
developments, both onshore and offshore, securing
Yani Y. Panigoro
extensions of key Production Sharing Contracts (PSCs),
President Commissioner
and plans to enter into new gas supply agreements.
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2025 Management Business Company Corporate 14 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Report by the President Director and the CEO Despite a 15% decline in realised oil prices, we maintained stable EBITDA, reflecting the strength of our operating model and portfolio resilience. Value, Focus, and Growth will continue to guide our decisions. Hilmi Panigoro and Roberto Lorato President Director and Chief Executive Officer
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 15
US$1.26B
In 2025, MedcoEnergi marked its 45th anniversary in
an operating environment shaped by volatile energy
markets, geopolitical and macroeconomic developments,
and evolving priorities between energy security and
EBITDA
decarbonisation. Energy demand continued to grow
across our region, while climate-related risks and
0.22
regulatory developments require disciplined execution
and stronger sustainability practices.
We maintained operational reliability across our assets Consolidated TRIR
and brought several value-accretive projects onstream,
A strong safety Culture
strengthening portfolio diversification and supporting
Indonesia’s energy transition, with expanding renewable
capacity aligned with the national target of reaching net-zero
emissions by 2060. We also advanced our transition
initiatives, maintaining focus on emissions management
and strengthening transparency in reporting. Achievements and Operational Highlights
The year presented operational challenges, including
At the same time, we strengthened our integrated gas
those arising from extreme weather events in some areas.
value chain through strategic acquisitions in Indonesia,
Despite this, we maintained delivery across our priorities.
where gas plays a critical role in supporting energy security
A key focus was the early integration of operability assurance
and affordability. PT Amman Mineral Internasional Tbk
in major projects to support safe and reliable operations as
(AMMN) also achieved key milestones with first production
new facilities come online.
of copper cathode and refined gold, further integrating the
copper value chain. Oil & Gas
Macroeconomic View In 2025, we maintained stable Oil & Gas production of
156 mboepd, comprising 72% gas and 28% oil. This performance
Global economic growth was projected at 3.2% in
was supported by consistent execution, with unit cash costs
2025 amid persistent macroeconomic and geopolitical
at US$8.6/boe.
uncertainties. Even before the escalation of hostilities
in the Middle East in early 2026, growth was expected We achieved first production from the Forel and Terubuk
to moderate further to 3.1%, as geopolitical and trade fields in South Natuna Sea Block B and expanded our footprint
tensions continue to weigh on investment and consumption. in South Sumatra through the acquisition of Repsol’s 24%
The recent supply disruptions and increase in oil prices will interest in the Corridor PSC - increasing our working interest
add further pressure on global growth and energy demand. to 70% – as well as securing a 45% operating interest in
the Sakakemang PSC and a 40% effective ownership in PT
However, energy demand across Southeast Asia is
Transportasi Gas Indonesia (TGI). Internationally, we extended
expected to remain resilient, supported by underlying
the production licence of the Bualuang Oil Field in Thailand and
demographics, industrialization and urbanization. In 2025,
advanced developments in Oman, including the completion of
Indonesia’s economy grew by 5.1%, supported by domestic
the Bisat-C expansion in Block 60.
demand, although its growth remains exposed to external
pressures, including global economic conditions and Power
commodity price volatility.
In 2025, electricity sales reached 4,371 GWh, with 25% derived
Against this backdrop, MedcoEnergi maintained resilient from renewable sources, supported by new capacity additions and
performance, supported by its gas-weighted portfolio, improved operational efficiency. We commenced operations at
fixed-price contracts, and disciplined execution. Despite the 35 MW Ijen Geothermal Unit 1 and the 25 MWp East Bali
a 15% decline in realised oil prices, EBITDA remained Solar PV projects, while increasing the Energi Listrik Batam
stable at US$1.26 billion, reflecting the strength of the combined-cycle plant capacity from 70 MW to 109 MW by
Company’s operating model and our portfolio resilience. harnessing its exhaust gas heat. We also advanced renewable
We increased our 2025 dividend by 19% per share developments, including initial geothermal drilling at Bonjol and
and continued share buybacks, reflecting disciplined continued subsurface work in Samosir, as well as early-stage
capital allocation. assessment of wind potential in West Sumbawa.
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2025 Management Business Company Corporate
16 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Report by
the President Director and the CEO
We brought several value-accretive projects onstream, strengthening
portfolio diversification and supporting energy transition.
Copper & Gold Mining Sustainability
In the Copper & Gold Mining segment, AMMN produced its MedcoEnergi achieved an upgrade of its MSCI ESG rating
first copper cathode in March and first refined gold in July to AAA, positioning the Company as an industry ‘Leader’ in
from its newly commissioned smelter and precious metals Oil & Gas Exploration and Production sector, and maintained
refinery. This was in addition to producing 446,563 dry a CDP rating of B.
metric tons (dmt) of copper concentrate, containing
208.9 Mlbs of copper and 102.8 koz of gold. We achieved our 2025 GHG and methane reduction interim
targets, with Oil & Gas Scope 1 and 2 GHG and methane
For the full year, AMMN produced 79.8 thousand metric emissions reduced by 30% and 40%, respectively, from
tons of copper cathode and 124.7 koz of refined gold. the 2019 base year, exceeding our interim targets of 20%
However, AMMN reported lower net income during the and 25% for 2025. We also continued to strengthen emissions
year, reflecting the impact of smelter ramp-up and transparency, including through participation in the Oil and
Indonesia’s export restrictions on concentrate. During the Gas Methane Partnership (OGMP) 2.0 via our subsidiary
fourth quarter, AMMN secured a concentrate export permit, PT Medco E & P Indonesia.
supporting operational continuity.
We continue to reduce our emissions while supplying reliable
Health and Safety and affordable energy. Natural gas remains an important
transition fuel. We expanded our lower-carbon Power portfolio,
Safety and operational integrity remain our priority. In 2025,
with renewables accounting for 26% of installed capacity,
we reinforced our safety culture through process, safety
meeting our 2025 interim climate target. East Bali Solar PV
assurance programmes, proactive risk management, and
and Ijen Geothermal projects contributed to this achievement.
operational discipline across our assets.
AMMN achieved a “Fully Meets” rating across all The Copper
MedcoEnergi’s Oil & Gas Total Recordable Incident Rate
Mark criteria for its Batu Hijau mine, confirming full alignment
(TRIR) was 0.15, an increase of 0.05 compared to 2024,
with international ESG standards.
but remained significantly below the international
industry average of 0.81, as reported by the International During the year, MedcoEnergi continued to expand social
Association of Oil & Gas Producers (IOGP) in 2024. investment programmes across education, health, economic
Our offshore assets recorded zero TRIR and zero Lost empowerment, infrastructure, and environmental initiatives.
Time Incidents (LTIs). Non-operated and international These programmes reached more than 25 thousand
assets also maintained zero LTIs. beneficiaries through activities such as house rebuilding,
blood donation drives, and support for micro, small,
In the Power segment, operations recorded zero LTI and
and medium enterprises. In response to severe flooding
occupational illnesses, with cumulative safe working hours
in Sumatra and Thailand, MedcoEnergi and its employees
reaching 56 million, up from 49.7 million hours in 2024.
mobilised quickly to provide relief to affected communities.
However, the overall TRIR of 0.59 highlights the importance
Assistance included basic logistics, clean water, heavy
to further embed our safety culture during the execution
equipment, and medical support.
of new projects.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 17
Investment in people is a key enabler. Through digital In Oil & Gas, our priorities for 2026 include securing production
transformation and structured capability-building continuity and assets growth through licence extensions
programmes, we have strengthened in‑house climate and accelerated development programmes. We expect
capabilities and delivered targeted sustainability and total production to range between 165 and 170 mboepd,
climate change e‑learning across the organisation, supported by a full-year contribution from the additional 24%
reaching more than 5,000 employees since the launch Corridor interest, full-year output from the Terubuk and Forel
of the programme in 2023. In parallel, we issued a Just fields in South Natuna Sea Block B, further drilling in Suban,
Transition Plan to further uphold human rights and support and continued operational reliability across our portfolio.
a fair and inclusive energy transition. Near-term priorities include the completion of Senoro Phase 2A
in 2Q 2026, initial production from the Rimau West Kalabau
Corporate Governance discovery, and the development of Sakakemang with production
Strong governance drives our execution discipline, targeted by 3Q 2027. In March 2026, we entered into the
stakeholder trust, and ethical business practices. Good Cendramas PSC in Malaysia as Operator, further expanding our
Corporate Governance frameworks were strengthened regional footprint.
through enhancing the MedcoEnergi Code of Conduct,
In Power, we expect electricity sales to reach approximately
maintaining 11 (eleven) ISO 37001:2016 Anti-Bribery
4,550 GWh in 2026, supported by continued growth and a
Management System certifications and the full
higher contribution from renewable sources. We will continue
implementation of the ISO 37002:2021 Whistleblowing
focusing on geothermal and solar PV, while leveraging energy
Management System.
storage and digitalisation to enhance operational performance.
We strengthened our policy and governance We are evaluating geothermal prospects in Bonjol and Samosir,
across the organisation through initiatives such as and assessing wind potential in West Sumbawa.
the Respectful Workplace Policy and human rights At AMMN, the focus will be on stabilising smelter operations and
e‑learning programmes. Climate‑related risk governance improving plant reliability as ramp-up continues. The Processing
was further enhanced through in‑house quantitative Plant Expansion Project is expected to reach mechanical completion
Climate Change Risk Assessments (CCRA) and and commissioning in 2026.
the establishment of a dedicated CCRA platform.
In parallel, Enterprise Risk Management was reinforced Appreciation
through regular reviews of key risks, performance, We thank our employees and contractors for their dedication, as
and critical controls. well as our shareholders, host governments, partners, vendors,
and communities for their trust and support. We look forward to
Outlook and Strategic Priorities continued collaboration in our joint endeavours to deliver long-term
value for the benefit of all.
Looking ahead, MedcoEnergi remains focused on
disciplined growth and long-term value creation.
Value, Focus, and Growth will continue to guide
our decisions.
We will prioritise value-accretive investments, maintain
consistent execution, and focus on safety and reliability,
while expanding selectively in areas where we have
clear competitive advantages. We will also continue
strengthening our people, systems, and technology Hilmi Panigoro Roberto Lorato
to support sustainable performance. President Director Chief Executive Officer
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2025 Management Business Company Corporate
18 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Achievements
that Defined Our Year
In 2025, we continued to deliver strong operational and strategic
progress across our portfolio. Our achievements and recognitions
illustrate how MedcoEnergi continues to strengthen its operational
excellence, progress its energy transition, and uphold the highest
standards of responsibility and transparency.
Oil & Gas Power
Achievements Achievements
• Achieved first production at the Terubuk • Commenced commercial operations at the 35 MW Ijen
and Forel fields, South Natuna Sea Block B, Geothermal and 25 MWp East Bali Solar PV power plants.
inaugurated by President Prabowo Subianto. • Increased generating capacity at the Batam ELB gas
• Acquired Repsol’s 24% participating interest IPP from 70 MW to 109 MW by utilising exhaust heat
in the Corridor PSC, bringing MedcoEnergi’s interest to generate additional power.
in the block to 70%. • Completed drilling of the first two exploration wells
• Acquired Repsol’s 45% operated interest in the at the Bonjol Geothermal licence in West Sumatra; Samosir
Sakakemang PSC in South Sumatra. Geothermal in North Sumatra also progressed with
• Increased our effective ownership in TGI subsurface studies.
to 40%, strengthening our influence over
gas transportation infrastructure. Awards
• Secured a 10-year production period extension
• Affirmed commitment to environmental stewardship
for the Bualuang block in Thailand, extending the
through PROPER ratings, with TJB Power Services
contract through 2035.
achieving Green and Medco Ratch Power Riau, Mitra
• Signed a multi-party domestic gas swap Energi Batam, Dalle Energy Batam, and Multidaya Prima
agreement to support Indonesia’s energy supply. Elektrindo achieving Blue.
• Completed an advanced wireless 3D seismic survey • PT Medco Cahaya Geothermal received the PRATAMA
at the Rebonjaro and Sumpal fields, Corridor Block. Award in recognition of its performance in Occupational
• Made a hydrocarbon discovery at the Health and Safety (OHS) and Geothermal Engineering for
West Kalabau-1 exploration well, Rimau Block. a non-producing working area at the project stage.
• Signed the Cendramas PSC Offshore Malaysia • Indonesia Best Electricity Award 2025: Medco Cahaya
operatorship in March 2026, after bidding process Geothermal named Best IPP in the New and Renewable
started in 2025. Energy (NRE) – Technological Innovation category.
Copper & Gold Mining
Awards
Achievements
• Subroto Award 2025: Recognition in the
categories of Oil and Gas Safety, Gas Flaring • Produced the first copper cathode in March 2025
Optimisation, Non-Tax State Revenue (PNBP), and the first refined gold in July 2025.
and Upstream Oil and Gas Financial Performance. • AMNT was certified for The Copper Mark at its
• Patra Nirbhaya Karya Safety Award: Batu Hijau Mine operations in West Sumbawa Regency,
Seven MedcoEnergi assets were recognised in West Nusa Tenggara Province.
three categories for achieving safe working hours.
• SKK Migas Award: 1st place in the Career Awards
Development Monitoring category.
• PRISMA Award 2025: AMNT recognised for
• 2025 ASEAN Risk Award: MedcoEnergi full compliance with Human Rights principles.
recognised for fostering synergy and resilience
• ASEAN Mineral Award 2025: AMNT recognised
through effective risk management.
for Best Practices in Processing.
Page 21
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 19
ESG Commitments Financial Achievements
• Achieved an upgrade of its MSCI ESG rating to AAA • Effective debt management resulted in a
and maintained a CDP score of B. Moody’s credit rating upgrade to Ba3.
• Achieved a reduction of ~1.6 million tCO2e in Scope 1 • Fitch, S&P, and Pefindo reaffirmed their ratings
and 2 GHG emissions from the 2019 baseline, meeting at BB-, BB-, and AA-, respectively.
our existing 2030 interim target of a 30% reduction. • MedcoEnergi became the first Indonesian issuer
Methane emissions were also reduced by 40%, to trade on the OTCQX® Best Market.
out of the 37% target for 2030.
• MEDC share price closed at Rp1,345 on
• Achieved an Oil & Gas TRIR of 0.15 compared to the December 31, 2025, delivering a 22% capital
2024 IOGP industry benchmark of 0.81. gain and contributing to a 27% Total Shareholder
• Joined the Oil & Gas Methane Partnership (OGMP) Return (TSR) in 2025.
2.0 initiative to enhance methane emissions • Total dividends paid in calendar year 2025 were
measurement and reporting in the oil and gas sector. US$80 million, equivalent to IDR 53.4 per share,
• Maintained 11 ISO 37001:2016 Anti Bribery Management a 19% increase per share compared with 2024.
System certifications and fully implemented
ISO 37002:2021 Whistleblowing Management System.
Forel Platform and Marlin Natuna FPSO, South Natuna Sea Block B, Riau Islands
Page 22
2025 Management Business Company Corporate
20 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Management
Discussion &
Analysis
Page 23
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 21
22 Financial Review
27 New Sales Contracts
28 Independent Accountant
28 Material & Affiliate Transactions
Page 24
2025 Management Business Company Corporate 22 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Financial Review In a challenging year marked by sharply weaker oil prices, our stable gas revenues, disciplined execution, and prudent capital management enabled MedcoEnergi to deliver record shareholder returns. Anthony R. Mathias Director & Chief Financial Officer
Page 25
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 23
Financial Returns Through Growth was driven by the start-up of the Terubuk and Forel fields
in South Natuna Sea Block B, the increased working interest in
Operational Excellence Corridor PSC, and continued strong performance in Oman Block 60
Despite a significantly weaker commodity price environment with a new production record.
in 2025 MedcoEnergi was able to deliver steady cash flows
and stable EBITDA. This resilience was underpinned by higher We exited the year with a fourth quarter run rate of approximately
Oil & Gas production and higher Power sales from both organic 176 mboepd, positioning us well for record production in 2026. 2025
growth and acquisitions. year-end Proved and Probable (2P) Reserves increased to 564 mmboe,
resulting in an increased 2P Reserve Life Index to a new high of
New renewable IPP facilities in Ijen and Bali provided incremental 11.4 years.
power generation, and production from new oil and gas fields
was brought onstream in several PSCs including Natuna, Our Power segment delivered results in line with expectations.
Block 60, Senoro and Corridor. Electricity sales rose to 4,371 GWh, slightly ahead of our annual
guidance of 4,300 GWh, supported by the commissioning of the
In addition, targeted acquisitions were made in Sumatra with Ijen Geothermal plant in the first quarter, East Bali Solar PV in the
further interests acquired in both the Corridor PSC, and the third quarter, and the Batam ELB Expansion in the fourth quarter.
TGI pipeline company together with a new position as operator Renewable sources accounted for a growing share of generation,
of the adjacent Sakakemang PSC. The consolidation of the rising to 25% of total power sales in 2025 from 20% in 2024, and
additional Corridor interest added both volume and reserves and we achieved our 2025 renewable installed capacity target of 26%.
allows infrastructure synergies to fast-track early development This expanding scale enabled the Power segment to return to
of Sakakemang PSC. Later in the year we also stepped in to positive net income.
complete and acquire control of the Natuna based Marlin FPSO.
This will allow effective recovery of the oil volumes in the EBITDA and Net Income
Forel field and support the extension of the Block B PSC
2025 EBITDA of US$1,264 million was broadly in line with 2024,
beyond 2028.
despite Brent crude averaging US$69 per barrel during the year,
Through zero-based budgeting, operating mode optimisation, down from US$81 per barrel in 2024.
drilling cost efficiencies, systems automation, and strict
Our average realised oil price declined 15% to US$67 per barrel,
control of discretionary spending, we preserved our position as
while realised gas prices softened modestly from US$7.0 to
a low-cost operator by maintaining cash cost below US$10/boe.
US$6.8 per mmbtu. Our EBITDA from fixed-price domestic gas
We again closed 2025 on guidance for both operating costs
contracts was US$404 million, this structural hedge provided
and capex.
meaningful protection to our cash flow and earnings.
Net income fell year on year, mainly due to lower oil prices and
Higher production from newly commissioned oil and gas fields,
the temporary fall in Amman Mineral Internasional (AMMN)
incremental renewable power generation and capacity, stable
results, together with non-cash impairments.
fixed-price gas income, and targeted accretive acquisitions helped
Despite this, healthy cash flow enabled us to increase dividends offset pricing pressures.
for the third consecutive year and execute an enhanced share
As most of our revenues are denominated in, or linked to
buyback programme. These decisions reflect the strength of our
U.S. dollars while a portion of our operating costs are Indonesian
portfolio, as well as our commitment to disciplined capital allocation
rupiah-based, the depreciation of the rupiah during the year
to generate sustainable long-term returns. Total shareholder
reduced domestic operating costs in U.S. dollar terms.
return was 27% in 2025, a record high for MedcoEnergi.
Our foreign exchange management policy, including the use
In 2025 we continued to strengthen our capital structure and of swap and cross-currency instruments, continues to mitigate
enhance financial flexibility. We reduced outstanding bonds currency risk and protect margins. In 2025 we were able to
through tender offers and open market repurchases, repaid maintain an EBITDA margin of 53%, with Oil & Gas operating
selected facilities, and accessed both international and domestic cash costs of US$8.6/boe.
capital markets to further diversify our funding sources.
Net income was US$101million, 73% below the US$367 million in
2024. The primary drivers were lower contributions from AMMN,
Production Growth
which fell to US$52 million in 2025 from US$133 million in 2024,
Oil & Gas production increased to 156 mboepd, up from weaker realised oil prices, dry hole expenses at the Beluga PSC,
152 mboepd in 2024 and within our guidance range of impairment in infrastructure and divested assets.
155-160 mboepd. Our production mix remains predominantly
gas-weighted at 72%, and is secured under long-term take-or-pay Net finance charges rose to US$324 million from US$307 million
contracts, while around half of total Oil & Gas production is sold in 2024, mostly due to a categorisation change on the absence of
under fixed-price arrangements, reinforcing the stability of TransAsia interest income following its full acquisition and full
our cash generating and earnings base. accounting consolidation.
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2025 Management Business Company Corporate
24 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Financial
Review
Balance Sheet Financing cash flows reflected our continued balanced approach
to funding, refinancing, and deleveraging. During the year,
We closed 2025 with consolidated gross debt of the Company accessed both international and domestic capital
US$3,646 million, compared with US$3,300 million markets while continuing to repurchase bonds and refinance
in 2024. The increase was primarily due to the purchase existing facilities, maintaining flexibility and extending debt maturities
of an FPSO to support production from the Forel field in where appropriate.
South Natuna Sea Block B, and project financing for
renewable and gas IPP power developments. Our disciplined acquisition funding model – typically utilising
approximately 30% internal cash – enabled us to expand our
At the Oil & Gas restricted group level, debt rose portfolio without shareholder dilution while preserving prudent
by US$135 million as a result of the US$280 million leverage metrics.
incremental debt drawn for the Corridor acquisition,
approximately US$61 million held in advance of 2026 Corporate Actions
IDR bond maturities, offset by US$205 million of continued
deleveraging. Net debt-to-EBITDA was approximately 2.0x, Active capital management remained a priority in 2025. Through
compared with 1.8x in 2024 and remained within our targeted tender offers, open market repurchases, and call option exercises,
leverage range. Liquidity remained strong, with a robust we repurchased approximately US$533 million of U.S. dollar bonds.
cash position of US$633 million at year-end, compared We also expanded IDR-denominated facilities to take advantage of
to US$697 million in 2024. favorable domestic liquidity conditions and attractive interest rate
environment, while entering cross-currency swaps to better align
Our receivables balance contains high quality, low risk, liabilities with our predominantly U.S. dollar revenue base.
mainly state-backed counterparties with structured
contractual arrangements. Reflecting our improved scale Despite a relatively bearish oil market in 2025, the Company
and disciplined financial management, Moody’s Investors successfully secured US$1+ billion of corporate and project-level
Service upgraded our credit rating to Ba3 in August 2025. new committed facilities with availability up to 18 months. In
addition, we issued a US$400 million 144A global bond and raised
Cash Flow Rp3.5 trillion (~US$215 million) domestically through Shelf
Registered Bonds.
Operating cash flow remained robust in 2025, supported by
stable EBITDA, disciplined cost management, and the inherent In line with our aims to diversify our capital markets access we
hedge provided by long-term gas contracts. This strong cash commenced trading of our American Depositary Receipts (ADRs)
generation allowed us to fund organic capital expenditures on the OTCQX Best Market under the ticker “MDCOY” in 2025,
of US$402 million in Oil & Gas and US$35 million in Power, making us the first Indonesian issuer to join OTCQX.
while continuing to invest in growth and manage our capital
structure proactively. Total dividends paid in the 2025 calendar year amounted to
US$80 million, equivalent to Rp53.4 per share, representing
Investing cash flows were directed primarily towards a 19% increase per share compared with calendar year 2024.
development drilling in Oman Block 60, Corridor Suban This includes an interim dividend payment of Rp28.4 per share,
revamping and development wells, continued development distributed on November 28, 2025. This continues our track record
in Terubuk and Forel fields in South Natuna Sea Block B, and of consistent dividend growth over the past three years. We also
the completion of renewable power projects (Ijen Geothermal repurchased approximately 465 million shares under our extended
and East Bali Solar PV) and Batam ELB Expansion. buyback programme.
Dividend Payment and Total Return to Shareholders
Book Period 2021 2022 2023 2024
Net Income (US$) 47,019,404 530,882,675 330,675,261 367,358,268
Earnings per share (US$) 0.002497 0.02206 0.01321 0.01466
Dividend per share (US$) 0.0014 0.0026 0.00280 0.0025
Dividend per share (IDR) 20.8697 38.6468 44.806 40.75
Total dividend paid (US$) 35,000,000 65,000,000 70,045,000 63,262,389
Dividend exchange rate (1 US$)1 14,904 14,858/14,868 15,484/16,290 15,581/16,296
Dividend payout ratio (x) 0.74 0.12 0.21 0.17
1 Dividend exchange rate converted to IDR by using Indonesian Central Bank’s mid-rate on the recording date.
Page 27
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 25
Our share price closed at Rp1,345 on December 30, 2025, For 2026, we target Oil & Gas production of 165–170 mboepd,
delivering a 22% capital gain and contributing to a total supported by the full-year contribution of the additional 24%
shareholder return of 27% for the year, including the effect of Corridor interest, full-year output from Terubuk and Forel fields in
cash dividends distributed during 2025. Building on this strong South Natuna Sea Block B, the full onstream of Senoro Phase 2A
finish, our market performance continued to strengthen in early in the second quarter of 2026, additional wells in Corridor Suban,
2026, with the share price rising to Rp1,825 as of March 31, and initial production from the Rimau West Kalabau discovery.
2026. This improvement was supported by the Company’s In early 2026, MedcoEnergi was awarded the oil producing
capital management activities, particularly deleveraging, Cendramas PSC by PETRONAS, strengthening our regional
dividend growth, and share buybacks, which together reflect footprint with this operated position in Malaysia. Power sales
the strength of our cash generation. are expected to increase to approximately 4,550 GWh, reflecting
full-year contributions from the new IPPs in 2025, Ijen Geothermal,
2026 Outlook Bali Solar PV, and the Batam ELB Expansion.
Looking ahead, the commodity price environment Oil & Gas capital expenditures will remain focused on disciplined,
is characterized by extreme volatility and heightened high-return projects, including continued drilling in Oman Block 60,
geopolitical risk. Earlier market consensus had suggested development of Corridor Sambar and Sakakemang slated to come
Brent crude would average in the US$60s, or even lower onstream in 2027, and the Bualuang Phase-1 project in Thailand
in 2026 due to an expected supply surplus. However, due onstream in the second quarter of 2026.
recent events in the Middle East have driven prices above
US$100 per barrel. The outlook now remains caught between We create Value through disciplined execution and enhanced cash
immediate supply security concerns and the long-term generation. We maintain Focus through prudent capital allocation,
potential for a return to fundamental oversupply if, continued deleveraging, and access to diverse funding sources.
or when tensions subside. And we deliver Growth through selective acquisitions, exploration
success, and strong operational execution – as demonstrated by
Our portfolio is positioned to operate throughout this often our results in 2025.
repeated commodity price cycle. We operate most of our
assets, giving us flexibility to high-grade capital spending as MedcoEnergi enters 2026 with a strong asset base, record
needed, and we remain a low-cost operator with cash costs hydrocarbon and power production, an improved reserve life and
below US$10/boe. stable cash flow generation.
Consolidated Statement of Profit or Loss and Other Comprehensive Income (US$)
Increase/
Description 2024 2025 %
(Decrease)
Continuing Operations
Total Sales and Other Operating Revenues 2,399,190,555 2,395,035,969 (4,154,586) 0%
Total Cost of Sales and Other Direct Costs 1,465,722,766 1,458,925,048 (6,797,718) 0%
Gross Profit 933,467,789 936,110,921 2,643,132 0%
Selling, general, and administrative expenses (216,890,499) (227,614,342) (10,723,843) 5%
Other operating expenses-net (45,526,901) (304,492,057) (258,965,156) 569%
Profit before Income Tax Expense from Continuing Operations 671,050,389 404,004,521 (267,045,868) -40%
Income Tax Expense (289,339,733) (290,568,895) (1,229,162) 0%
Profit for the Year from Continuing Operations 381,710,656 113,435,626 (268,275,030) -70%
Discontinued Operations Loss for the year (1,504,141) 108,540 1,612,682 -107%
Profit attributable to
• Equity Holders of the Parent Company 367,358,268 100,923,998 (266,434,270) -73%
• non-controlling interests 12,848,247 12,620,168 (228,079) -2%
Basic Earnings per share attributable to Equity Holders of the
0.01466 0.00408 (0.01058) -72%
Parent Company
Basic Earnings per share attributable from Continuing
0.01472 0.00407 (0.01065) -72%
Operations to Equity Holders of the Parent Company
Return on Equity 17% 5% 0.12652 -71%
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2025 Management Business Company Corporate
26 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Financial
Review
Balance Sheet (US$)
Description 2024 2025 Increase/(Decrease) %
Current Assets 1,816,976,250 1,630,362,374 (186,649,876) -10%
Non-Current Assets 6,109,914,115 6,732,336,691 622,422,576 10%
Total Assets 7,926,890,365 8,362,663,065 435,772,700 5%
Current Liabilities 1,505,385,643 1,386,714,373 (118,671,270) -8%
Non-Current Liabilities 4,070,473,153 4,615,837,186 545,364,033 13%
Total Liabilities 5,575,858,796 6,002,551,559 426,692,763 8%
Total Equity 2,351,031,569 2,360,111,506 9,079,937 0%
Total Liabilities and Equity 7,926,890,365 8,362,663,065 435,772,700 5%
Capital Structure (US$)
Description 2024 % 2025 %
Interest-bearing Liabilities 3,300,082,343 42% 3,646,312,364 44%
Other Liabilities 2,275,776,453 29% 2,356,239,195 28%
Liabilities 5,575,858,796 70% 6,002,551,559 71%
Equity 2,351,031,569 30% 2,360,111,506 28%
Total Liabilities and Equity 7,926,890,365 100% 8,362,663,065 100%
Capital Expenditure (US$)
Description 2024 2025 Increase/(Decrease) %
Oil & Gas 365,258,137 402,096,184 36,838,047 10%
Power 141,525,763 60,476,354 (81,049,409) -57%
Total 506,783,900 462,572,538 (44,211,362) -9%
Capital Expenditure with Power Net portion (US$)
Description 2024 2025 Increase/(Decrease) %
Oil & Gas 365,258,137 402,096,184 36,838,047 10%
Power 70,884,573 35,161,274 (35,723,300) -50%
Total 436,142,710 437,257,458 1,114,747 0%
Cash Flow
Consolidated Statement of Cash Flow (US$)
Description 2024 2025 Increase/(Decrease) %
Net cash provided by operating activities 1,219,541,609 906,288,170 (313,313,439) -26%
Net cash used in investing activities (368,970,436) (756,781,414) (387,810,978) 105%
Net cash used in financing activities (569,204,360) (217,917,243) 351,287,117 -62%
Increase (Decrease) in Cash and Cash Equivalents from
281,366,813 (68,410,487) (349,777,300) -124%
Continuing Operations
Net Increase (Decrease) in Cash and Cash Equivalents from
3,884,547 (51,261) (3,935,808) -101%
Discontinued Operations
Net Foreign Exchange Difference (2,175,865) 543,821 2,719,686 -125%
Cash and Cash Equivalents at Beginning of Year 353,948,953 637,024,448 283,075,495 80%
Cash and Cash Equivalents at End of Year 637,024,448 569,106,521 (67,917,927) -11%
Page 29
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 27
New Sales Contracts Domestic Swap Agreement dated May 21, 2025, between
Medco E&P Grissik Ltd., PetroChina International Jabung Ltd.
Natural Gas and Gas Supply Pte Ltd, dated July 17, 2025 and its amendment
The Company signed or amended numerous Gas Sales dated December 29, 2025.
Agreements (GSAs) in 2025. 10. Mutual Agreement (3rd stage) for Pipeline Gas Delivery between
PT Pertagas Niaga and PT Medco E & P Malaka, signed on
New Agreements: November 19, 2025.
11. Third Amendment to LOA for the Implementation of Natural
1. GSA between PT Medco E & P Indonesia and PT Perusahaan
Gas Price Adjustment between Medco E&P Grissik Ltd and
Gas Negara Tbk (PGN) for Commercial, Industry and
PT Pupuk Sriwidjaja Palembang dated September 26, 2025.
Electricity in South Sumatra and West Java, signed on
12. Fifth Amendment to LOA for the implementation of Natural Gas
February 6, 2025.
Price Adjustment between Medco E&P Grissik Ltd and PT
2. GSA between Medco E&P Natuna Ltd., Premier Oil Natuna
Energasindo Heksa Karya dated September 12, 2025.
Sea B.V., Star Energy (Kakap) Ltd. and PT PGN, for the gas
13. LOA for the implementation of Natural Gas Price Adjustment
swap agreement from Block B, Block A and Kakap, signed
between PT Medco E & P Indonesia and Perusahaan Daerah
on May 21, 2025.
Mura Energi dated September 29, 2025
Amendments and other agreements: 14. Amendment of GSA between Medco E&P Natuna Ltd., Premier
Oil Natuna Sea B.V., Star Energy (Kakap) Ltd. and PT Perusahaan
1. Amendment of GSA between Medco Energi Madura Gas Negara Tbk. (PGN), for the gas swap agreement from Block
Offshore Pty. Ltd. and PT Sarana Cepu Energi for the B, Block A and Kakap dated December 29, 2025.
gas supply from Madura Offshore PSC, signed on 15. Amendment of GSA between PT Medco E & P Simenggaris and
April 24, 2025. PT PLN (Persero) for electricity, dated December 22, 2025.
2. Amendment of GSA between PT Medco E & P Lematang, 16. Amendment of GSA between PT Medco E & P Indonesia, PT
PT Medco E & P Indonesia and PT PLN (Persero)/PT Medco E & P Tarakan, PT PLN (Persero) and PT PLN EPI for
PLN EPI for Electricity in South Sumatra, signed on electricity dated June 25, 2025.
June 25, 2025. 17. Second Amendment of GSA between PT Medco E & P Tarakan
3. Swap Agreement between PT Medco and PT PLN (Persero)/PT PLN EPI for electricity dated
E & P Indonesia, PT Pertamina EP, PT PGN Tbk and
December 31, 2025.
PT Pertamina Gas for Gas Delivery from South Sumatra
Block to West Java, signed on July 4, 2025. Crude Oil, Condensate, and Sulphur
4. Letter of Agreement (LOA) for the Implementation of
Natural Gas Price Adjustment between PT Medco E & P The Company signed numerous crude oil and condensate contracts
Malaka and PT Pertagas Niaga, for fertilizer, electricity and in 2025.
industry, signed on August 29, 2025
New Agreements:
5. Amendment of GSA between PT Medco E & P Indonesia
and PT PGN Tbk for Commercial, Industry and Electricity in 1. Forel Crude Oil Sales and Purchase Agreement (COSPA)
South Sumatra and West Java, signed on November 5, 2025 between Medco Energi Global Pte. Ltd. and Petrolimex
6. Amendment to GSA between Medco E&P Grissik Ltd. Singapore Pte. Ltd., signed on December 30, 2025.
and PT Pertamina Hulu Rokan, for crude lifting, dated 2. Belida COSPA between Medco Energi Global Pte. Ltd. and
November 7, 2025. Petrolimex Singapore Pte. Ltd., signed on December 30, 2025.
7. Amendment to LOA for the Implementation of Natural Gas 3. Belanak COSPA between Medco Energi Global Pte. Ltd. and
Price Adjustment, between Medco E&P Grissik Ltd. and PT Petrolimex Singapore Pte. Ltd., signed on December 30, 2025.
Perusahaan Gas Negara Tbk, for industry, electricity and 4. Grissik Mix Condensate Sales and Purchase Agreement
commercial, dated September 22, 2025. between Medco Energi Global Pte. Ltd. and Mitsui & Co Energy
8. LOA to the GSA dated 21 November 2022 for Delivery of Trading Singapore Pte. Ltd., dated December 15, 2025.
Gas pursuant to the Domestic Swap Agreement dated 5. Senoro Condensate Sales and Purchase Agreement between
21 May 2025, between Medco E&P Grissik Ltd., PetroChina Medco Energi Global Pte. Ltd. and Mitsui & Co Energy Trading
International Jabung Ltd. and Gas Supply Pte Ltd, dated Singapore Pte. Ltd., dated December 15, 2025.
17 July 2025 and its amendment dated December 29, 2025. 6. Bualuang COSPA between Medco Energi Thailand (Bualuang)
9. LOA to the Gas Transportation Agreement dated February Limited and PETCO Trading Labuan Company Ltd., signed on
22, 2023 for Transport Delivery of Gas pursuant to the August 15, 2025.
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2025 Management Business Company Corporate
28 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Financial
Review
Independent Accountant business support agreement. Under this agreement,
the Company agrees to provide and Medco Power agrees
The Board of Commissioners recommended the appointment to receive business support services in certain areas, including:
of KAP Purwanto, Susanti & Surja (previously known as KAP (i) Service Desk, (ii) SAP Service & Support, (iii) BPM Service &
Purwantono, Sungkoro & Surja), a member firm of Ernst Support, (iv) SharePoint Service & Support, and (v) Terminal
& Young Global Limited, a public accounting firm registered with Service. The term of this agreement is until December 31, 2026.
the OJK, as the Company’s external auditor for the 2025 fiscal
year. This appointment was subsequently approved by the MPI is a controlled subsidiary of the Company.
AGMS on June 3, 2025. KAP Purwanto, Susanti & Surja has
consistently maintained its independence in accordance with 4. Cost Sharing Agreement dated December 1, 2025,
professional standards for public accountants, the work between the Company and Medco E & P Subsidiaries
agreement, and the defined audit scope.
On December 1, 2025, the Company and its directly and
Total fees for audit work and other assurance services by KAP indirectly owned subsidiaries of the Company, which are
Purwanto, Susanti & Surja for fiscal year 2025 amounted to (i) PT Medco E & P Indonesia, (ii) PT Medco E&P Malaka,
Rp49.6 billion as per the following details: (iii) Medco E&P Grissik Ltd, (iv) PT Medco E & P Rimau,
(v) PT Medco E&P Tarakan, (vi) Medco E & P Natuna Ltd,
1. Fee for the audit of the consolidated financial statements, (vii) PT Medco E & P Simenggaris, (viii) PT Medco E & P
for the financial year December 31, 2025 were Rp43.5 billion. Tomori Sulawesi, (ix) Medco Energi Madura Offshore Pty Ltd,
2. Other assurance service fees were Rp3.5 billion. (x) Medco Energi Bangkanai Limited, (xi) PT Medco E & P
3. Non-assurance service fees were Rp2.6 billion. Lematang, (xii) Medco LLC, (xiii) Medco Energi Thailand
(Bualuang) Limited, (xiv) Medco Arabia Ltd., entered into a
Material & Affiliate Transactions Cost Sharing Agreement in relation to upgrading its Enterprise
MedcoEnergi maintains a commitment to conducting business Resources Planning system (“ERP System”) by migrating to the
with the highest ethical standards and transparency. We continue SAP S/4HANA version (“SAP S/4HANA”) starting in Year 2025
to review each and every affiliate transaction to make sure that with a completion target in Year 2027. SAP S/4HANA will be
they are performed and delivered in the manner, which is in co-utilised by the subsidiaries of the Company so that they
compliance with Indonesian laws and regulations, especially can carry out their respective business activities economically
OJK Regulation No. 17/POJK.04/2020 and No. 42/POJK.04/2020. and efficiently.
1. Office Space Lease Agreement dated April 1, 2024, 5. Intercompany Loan Agreement dated September 1, 2024,
between the Company and PT Api Metra Graha (“AMG”) between the Company and PT Satria Raksa Buminusa (“SRB”)
On April 1, 2024, the Company and AMG entered into an On September 1, 2024, and as amended on March 24, 2025,
office space lease agreement. The Company intends to the Company entered into an Intercompany Loan Agreement
utilise the spaces on floors 32, 51, 53, and 55, penthouses with SRB, under which the Company agrees to provide a loan to
1, 2, and 3, as well as storage space on level B3 located at SRB with a maximum amount of Rp40,000,000,000 at an annual
the Energy Building, Jl. Jenderal Sudirman Kav. 52-53, Jakarta interest rate of 8.95%. The loan will be used for working capital
12190, and AMG agrees to lease these spaces. The lease to support SRB’s business operations, including operational
term agreed upon by the Company and AMG is from April 1, expenses. The loan term agreed upon by the Company and
2024, to March 31, 2029. The affiliation between the Company SRB is until August 31, 2027.
and AMG lies in the shared members of the Board of Directors/ SRB is a controlled subsidiary of the Company.
Board of Commissioners between the Company and AMG.
6. Operation and Maintenance Agreement dated November 5,
2. Business Support Agreement dated October 31, 2023, 2024, between PT Medco Cahaya Geothermal (“MCG”) and
between the Company and Medco Energi Global PT Medco Power Geothermal Services (“MPGS”)
Pte. Ltd. (“MEG”)
MPGS provides Operation and Maintenance (O&M) services
On October 31, 2023, and amended on November 6, 2024, for the 35MW Blawan Ijen Geothermal Power Plant Phase 1
the Company and MEG entered into a business support (PLTP Ijen) located in East Java, owned by MCG. This agreement
agreement. Under this agreement, the Company agrees is valid for six years from the Commercial Operation Date (COD)
to provide and MEG agrees to receive business support of Unit 1 of PLTP Ijen, which occurred in January 2025.
services in certain areas, including: (i) Service Desk,
(ii) SAP Service & Support, (iii) BPM Service & Support, 7. Operational and Asset Security Services Contract
(iv) SharePoint Service & Support, and (v) Terminal Service. No. 3510007799 dated March 1, 2024, between SRB and
The term of this agreement is until December 31, 2026. PT Medco E&P Rimau (“MEP Rimau”)
MEG is a controlled subsidiary of the Company. SRB provides security personnel and comprehensive operational
security services to support MEP Rimau’s operations across
3. Business Support Agreement dated November 28, 2023, the Rimau Block working area. This agreement is effective from
between the Company and Medco Power March 1, 2024, and will continue until all obligations of the parties
On November 28, 2023, and amended on November 8, are fulfilled, which is expected to be by February 28, 2027. Both
2024, the Company and Medco Power entered into a SRB and MEP Rimau are controlled subsidiaries of the Company.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 29
8. Operational Security Services Agreement No. 3510007864 10. Intercompany Loan Agreement dated October 20,
dated March 1, 2024, between SRB and PT Medco E&P 2025, between the Company and PT Medco LNG
Lematang (“MEP Lematang”) Indonesia ("MLI")
SRB provides comprehensive security personnel services to On October 20, 2025, the Company entered into an
support MEP Lematang’s operations in the MEP Lematang intercompany loan agreement with MLI under which
field in the Lematang area. This agreement is effective from the Company agrees to provide a loan to MLI with a
March 1, 2024, and will continue until all obligations of the maximum amount of Rp1,500,000,000,000, and with
parties are fulfilled, which is expected to be by May 31, 2027. non-interest-bearing loan. The loan term agreed upon by
the Company and MLI is until October 27, 2032.
Both SRB and MEP Lematang are controlled subsidiaries
of the Company. MLI is a controlled subsidiary of the Company.
9. Intercompany Loan Conversion Agreement dated 11. Intercompany Loan Agreement dated October 20, 2025,
December 23, 2025, between the Company and MEG between MLI and SRB
On December 23, 2025, the Company and MEG entered On October 20, 2025, MLI entered into an intercompany
into an Intercompany loan conversion agreement. Under loan agreement with SRB under which MLI agrees to
this agreement, the Company and MEG agree to convert provide a loan to SRB with a maximum amount of
a portion of MEG’s loan towards the Company, originally Rp1,500,000,000,000, and with non-interest-bearing loan.
in GBP (Pound sterling) currency into USD (United States The loan term agreed upon by MLI and SRB is until
Dollar). Subsequent to the conversion, the outstanding October 27, 2032.
balance in the USD currency is US$41,682,391.91.
MLI and SRB are controlled subsidiaries of the Company.
MEG is a controlled subsidiary of the Company.
Suban Plant, Corridor Block, South Sumatra
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2025 Management Business Company Corporate
30 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Business
Activities
Block A Central Processing Plant, Aceh
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 31
32 Oil & Gas
44 Power
48 Copper & Gold Mining
52 Other Businesses
Page 34
2025 Management Business Company Corporate 32 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Oil & Gas 2025 was a pivotal year of strategic growth. As a cost-efficient operator, we delivered operational and safety performance in line with our targets, driven by disciplined commitment to reliability, efficiency, and continual improvement across all our Oil & Gas operations. Ronald Gunawan Director & Chief Operating Officer
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 33
Performance Overview Production
Oil & Gas production remains the core driver of
MedcoEnergi’s performance and the foundation of
the Company’s integrated energy portfolio. In 2025,
156
mboepd (+3%)
Oil & Gas met its production targets while maintaining
a focus on safety and operational improvement despite
softer global oil prices. Production reached 156 mboepd,
in line with the 155–160 mboepd full-year guidance,
supported by first production from the Forel and Number of Assets
27
Terubuk fields in the South Natuna Sea Block B,
the increase in operated ownership of the Corridor PSC
to 70%, and a new production record in Oman Block 60.
Block 60 achieved an average gross production of
16 production and
67.8 mboepd (13.6 mboepd net) with its highest production 11 exploration & development
record of 77.2 mboepd on October 7, following the Bisat-C
expansion. In Thailand, we secured a 10-year production
period extension for the Bualuang block, supporting continued
production through 2035. Reserves Life Index
The Company acquired Repsol’s 45% operating interest in
the Sakakemang PSC and is in the process of acquiring
an 80% operating interest in the South Sakakemang PSC,
11.4
years
located in South Sumatra. The Company also increased
its interest in PT Transportasi Gas Indonesia (TGI), raising
our effective ownership to 40%. On March 31, 2026
MedcoEnergi signed the Cendramas PSC with PETRONAS, 2P Reserves
re-entering Malaysia as the operator of this offshore oil block,
which currently has gross production level of approximately
7,000 bopd. 564
mmboe
MedcoEnergi maintained resilient performance despite
volatile commodity markets and weaker oil prices, supported
by new fields and facilities coming onstream. We remain
focused on delivering affordable, reliable and efficient energy
supply, supporting economic development in the countries
in which we operate. MedcoEnergi continued to advance
its sustainability targets, exceeding its 2025 goals for
reductions in E&P Scope 1 and 2 greenhouse gas (GHG) Together, these projects added gross production capacity
and Methane emissions. of up to 20 mbopd of oil and 60 mmscfd of gas.
Strategic Progress In 2025, the Company increased its participating
interest in the Corridor block from 46% to 70%,
Operational performance following its acquisition from Repsol. The transaction
Production in 2025 averaged 156 mboepd, 3% above 2024, added approximately 58 mmboe of 2P reserves and
with a production mix of 28% oil and 72% gas, reinforcing immediate net production impact of nearly 25 mboepd.
MedcoEnergi’s gas-led growth strategy. The Company’s 12 The asset provides a strong and stable commercial
producing assets in Indonesia contributed 129 mboepd, foundation, supported by fully contracted take-or-pay gas
while international assets in Oman, Yemen and Thailand sales agreements with prime buyers in Singapore and
contributed 27 mboepd. Oil & Gas unit cash costs remained Indonesia, and PSC licence extending to 2043. In addition,
competitive at US$8.6 per boe, within the full-year guidance MedcoEnergi completed a 3D seismic survey in the
of below US$10 per boe. Proved and Probable (2P) reserves Rebonjaro and Sumpal fields, supporting future drilling
increased to 564 mmboe, resulting in a reserves life index of and development activities in 2026.
11.4 years.
In 2024, MedcoEnergi also awarded the Amanah PSC,
In Indonesia, first production from two new projects within an exploration asset located in South Sumatra near
the South Natuna Sea Block B PSC contributed to higher output. its existing assets. These acquisitions, together with
The Terubuk Field, comprising two platforms and six wells, MedcoEnergi’s increased effective ownership in TGI
was brought onstream ahead of schedule in April and July 2025. to 40%, strengthened the Company’s strategic position
The Forel Field achieved first oil production in May 2025. in South Sumatra and Java’s integrated gas value chain.
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2025 Management Business Company Corporate
34 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Oil & Gas
Cash Cost • Oman: Development activities at Oman Block 60 continued, with
75 wells drilled across the Bisat and Abu Butabul (ABB) fields
US$8.6 /boe
for development, appraisal, and exploration. In 2025, Block 60
recorded average production of 13.6 mboepd net, following the
successful Bisat-C expansion, which started coming onstream on
June 16. At Karim Small Fields (KSF), a total of 33 wells were
drilled, including the Anuq West-1 exploration success, which
Oil & Gas Business Capex added 350 bopd from the Ara/Birba reservoir. These activities,
together with other drilling, resulted in 2P reserve additions of
US$402M 9 mmbo, and supported the advancement of long-term growth
through the Ilham Steam Flood Field Development Plan and
Simsim (SSM) Chemical Enhanced Oil Recovery (EOR) pilots.
Operational excellence and safety: The Operational Excellence (OE)
Framework is applied to drive performance in safety, reliability, and
Oil & Gas Business Revenue efficiency, supported by the Plan–Do–Check–Adjust (PDCA) cycle
US$2,189.5M
for continual improvement. Periodic assessments are conducted to
measure maturity and identify improvement areas. In 2025,
OE assessments were completed for Tarakan, Rimau, Lematang,
South Natuna Sea Block B, and Corridor, with strategic improvement
plans identified to enhance maturity.
Scope 1 and 2 MedcoEnergi prioritises a safe and secure working environment
GHG Emissions across all operations. In 2025, safety performance remained strong,
underpinned by structured programmes, proactive risk management,
30%
and operational discipline. Oil & Gas Total Recordable Incident Rate
(TRIR) was 0.15, significantly below the 2024 IOGP industry
benchmark of 0.81. The Company recorded zero illness-related
Reduction medivacs and Process Safety Event (PSE) Tier 1 incidents, with
from base year 2019 improved PSE Tier 2 performance. Key initiatives included Process
Safety Competency Upskilling, Strengthening Safety Critical Element
management, Improving lifting practices and journey management
through Life Saving Rules Implementation, and enhanced ‘Fit to
Work’ health monitoring and medical follow-up programmes.
Indonesia Offshore assets maintained zero TRIR and zero Lost Time
TGI transports natural gas from the Corridor PSC and other South Incidents (LTIs), with seven assets receiving the Patra Nirbhaya Karya
Sumatra–Jambi suppliers through its pipeline network to buyers Safety Award from the ESDM for excellence. Our non-operated
in Riau, as well as Batam and Singapore. This consolidation aligns assets also maintained zero LTIs, while KSF in Oman, recorded
with the Company’s strategy to acquire assets with growth six consecutive years without LTIs. These mitigation measures
potential, established infrastructure, and strong market access. strengthened the safety framework, reflected in a high safety
performance rating in an audit by SKK Migas.
Asset and project highlights:
Transition to low-carbon initiatives: MedcoEnergi remains
• South Natuna Sea Block B: In 2025, average net production committed to minimising its environmental footprint across all assets.
from South Natuna Sea Block B was 19.6 mboepd, up from In 2025, the Company’s second five-year sustainability roadmap
13.2 mboepd in 2024. The increase was supported by first entered its third year. MedcoEnergi delivered all key climate targets.
oil production from the Forel field in May and first production Oil & Gas Scope 1 and 2 GHG emissions and methane emissions
from the Terubuk Well Head Platform (WHP) L in April, were reduced by 30% and 40%, respectively, from the 2019 base
followed by WHP M in July. With these developments, year, exceeding the 2025 targets of 20% and 25%. MedcoEnergi
South Natuna Sea Block B comprises 18 offshore platforms, also joined the Oil & Gas Methane Partnership (OGMP) 2.0,
three productive subsea fields, one floating storage and reinforcing its commitment to methane emissions reduction across
offloading (FSO) unit, and two Floating Production, Storage operations. For further details on ESG performance, please refer to
and Offloading (FPSO)s. Gas from the block is supplied Sustainability Chapter.
to Singapore.
• Corridor: MedcoEnergi’s largest asset, Corridor produced In 2025, a total of 44 initiatives were implemented across the Oil &
59.6 mboepd net, up from the previous year. This increase Gas assets to reduce GHG emissions, delivering an estimated total
was driven by facility optimisation and drilling activities, including reduction of 95,481 tCO2e. This performance achieved through
the completion of the Suban Revamping and Letang Tengah operational optimisation measures such as optimising operating modes,
Rawa (LTR) Expansion projects, as well as the commissioning deactivating compressors, and minimizing flaring during well clean‑up
of three new infill wells. In 2025, the Corridor PSC achieved a and testing activities. Of the total emissions reductions achieved,
direct operating efficiency of 98.8%, reflecting high plant methane (CH4) emissions contributed a reduction of 1,834 tCO2e,
reliability across one oil field and seven gas fields. reflecting targeted efforts to address high‑impact emission sources.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 35
Belida Platform, South Natuna Sea Block B, Riau Islands
MedcoEnergi installed rooftop solar power systems across These initiatives support MedcoEnergi’s contribution to Indonesia’s
the Corridor block working area, reinforcing its commitment energy transition and national net-zero targets.
to sustainability. The installation of 1,500 solar panels is
expected to reduce emissions by up to 934 tCO2e per year. Outlook and Priorities
This initiative forms part of MedcoEnergi’s long-term strategy
In 2026, MedcoEnergi will remain focused on driving
to integrate sustainability across its value chain.
continuous improvements in operational excellence and
The Company delivered improvements in its Fuel Gas sustainability, while ensuring safe, efficient, and reliable
Optimisation Programme through a series of initiatives across operations. Key priorities include securing production continuity
its Oil & Gas assets. A key initiative was the optimisation of and assets growth through block extensions and accelerated
the Waste Heat Boiler (WHB) operating mode at the Grissik development programmes. The Company targets total production
field in the Corridor Block, South Sumatra. By utilising heat from of 165–170 mboepd, supported by the full-year contribution
the combustion of waste gas to produce steam, operations from the additional 24% stake in Corridor, production from
improved efficiency and reduced emissions by approximately the Terubuk and Forel fields in South Natuna Sea Block B,
19,000 tCO2e annually. contribution from Senoro Phase 2A, which is expected to come
onstream in Q2-2026, initial production from the Rimau West
As part of its climate strategy, MedcoEnergi continues to advance Kalabau discovery, and the newly acquired Cendramas block
Carbon Capture and Storage (CCS) initiatives, which will play a offshore Malaysia.
critical role in its long-term decarbonisation efforts. In 2025,
the Company completed a review of potential CCS applications Near-term priorities also include advancing the Sakakemang
across its gas field developments. The Company also continues projects, with production targeted in Q3-2027. MedcoEnergi
to explore the development of a CCS regional hub to serve is well positioned to deliver sustained growth and
industrial emitters, including transboundary sources. long-term value.
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2025 Management Business Company Corporate
36 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Oil & Gas
Net Oil & Gas Production (mboepd) 2021 2022 2023 2024 2025
Indonesia Assets
Corridor, South Sumatra – 70.2 74.4 58.0 59.6
Senoro-Toili, Central Sulawesi 19.1 21.7 20.8 20.5 20.6
South Natuna Sea Block B, Riau Islands 18.3 17.3 14.7 13.2 19.6
South Sumatra, South Sumatra 8.9 9.3 9.4 10.3 8.6
Block A, Aceh 7.1 8.4 6.8 6.8 5.2
Madura Offshore, East Java 5.6 4.3 3.3 3.2 3.5
Rimau, South Sumatra 4.3 4.2 4.1 3.5 3.1
Bangkanai, Cetral Kalimantan 2.9 2.8 2.4 2.3 2.6
Sampang, East Java 2.9 2.5 2.1 1.6 0.9
Lematang, South Sumatra 2.7 2.1 4.1 2.7 2.6
Tarakan, North Kalimantan 1.4 1.3 1.0 1.1 1.2
Simenggaris, North Kalimantan 0.0 0.0 0.3 1.2 1.3
International Assets
Bualuang, Thailand 7.2 5.6 4.8 4.8 4.6
Block 12W, Vietnam* 3.6 2.6 2.9 1.1 –
Sinphuhorm, Thailand** 1.5 1.6 0.2 – –
Block 9, Yemen 1.4 1.1 0.1 0.0 0.0
Block 60, Oman – – 0.7 12.6 13.6
Karim Small Fields, Oman 7.2 7.4 7.6 8.9 9.0
Total Oil & Gas Production 94.1 162.5 159.7 151.9 156.1
* Divested April 2024
** Divested February 2023
Bualuang Platform, Thailand
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 37 Net Oil Production (mbopd) 2021 2022 2023 2024 2025 Indonesia Assets South Natuna Sea Block B, Riau Islands 5.5 4.1 4.2 3.9 7.1 Rimau, South Sumatra 3.9 3.8 3.7 3.1 2.7 Corridor, South Sumatra – 2.9 3.0 2.2 2.3 Senoro-Toili, Central Sulawesi 2.1 2.3 2.2 2.2 2.1 South Sumatra, South Sumatra 2.2 2.0 1.7 1.8 1.5 Block A, Aceh 0.9 1.1 0.9 0.9 0.7 Tarakan, North Kalimantan 1.0 0.9 0.7 0.7 0.8 Bangkanai, Cetral Kalimantan 0.3 0.3 0.3 0.3 0.3 Simenggaris, North Kalimantan 0.0 0.0 0.0 0.0 0.0 Sampang, East Java 0.1 0.1 0.0 0.0 0.0 International Assets Bualuang, Thailand 7.2 5.6 4.8 4.8 4.6 Block 12W, Vietnam* 2.8 2.0 2.2 0.8 – Block 9, Yemen 1.2 0.9 0.0 0.0 0.0 Sinphuhorm, Thailand** 0.0 0.0 0.0 – – Block 60, Oman – – 0.6 11.6 12.1 Karim Small Fields, Oman 7.2 7.4 7.6 8.9 9.0 Total Oil Production 34.4 33.5 32.1 41.3 43.3 Net Gas Production (mmscfd) 2021 2022 2023 2024 2025 Indonesia Assets Corridor, South Sumatra – 374.3 397.4 311.4 319.4 Senoro-Toili, Central Sulawesi 87.9 99.7 95.7 94.3 95.1 South Natuna Sea Block B, Riau Islands 67.7 70.1 55.3 49.0 66.2 Block A, Aceh 34.5 40.9 32.7 32.8 25.1 South Sumatra, South Sumatra 34.4 37.9 39.6 44.6 37.2 Madura Offshore, East Java 31.7 24.3 19.0 18.5 20.0 Bangkanai, Cetral Kalimantan 13.9 13.6 11.3 11.2 12.2 Sampang, East Java 15.2 13.2 10.9 8.3 4.9 Lematang, South Sumatra 15.6 12.0 24.0 15.8 15.2 Rimau, South Sumatra 2.3 2.4 2.5 2.5 2.3 Tarakan, North Kalimantan 2.3 2.1 1.8 2.1 2.1 Simenggaris, North Kalimantan 0.0 0.0 1.7 6.5 7.5 International Assets Sinphuhorm, Thailand** 8.6 9.2 1.3 – – Block 12W, Vietnam* 3.8 2.9 3.5 1.6 – Block 9, Yemen 1.5 1.2 0.4 0.0 – Bualuang, Thailand 0.0 0.0 0.0 0.0 0.0 Block 60, Oman – – 0.2 5.0 7.4 Total Gas Production 319.7 704.1 697.4 603.4 614.6 * Divested April 2024 ** Divested February 2023
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2025 Management Business Company Corporate
38 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Oil & Gas
Indonesian Oil & Gas Assets supply and reflects MedcoEnergi’s commitment to strengthening
Indonesia’s energy resilience.
South Natuna Sea Block B, Riau Islands
In 2025, average production was 49 mboepd gross (17.7 mbopd of
MedcoEnergi is the operator of and holds a 40% interest in
oil and 165.5 mmscfd of gas) and 19.6 mboepd net (7.1 mbopd of oil
the South Natuna Sea Block B PSC comprising 18 offshore
and 66.2 mmscfd of gas). The Company also supplied hydrocarbons
platforms, three producing subsea fields, one FSO, and
to the domestic market through a swap mechanism, supporting
two FPSO units.
national energy supply.
In 2025, MedcoEnergi achieved two key milestones. The
The Company maintained strong safety performance across its
Forel-Bronang field delivered first oil production in May 2025,
operations, achieving zero LTI and zero TRIR. Emission-reduction
reaching 10,000 gross bopd supported by the FPSO Marlin
initiatives included flare reduction at the Belida Lift Gas Plan,
Natuna, Indonesia’s first converted oil tanker into a floating
free-flow operations at Terubuk–Belida, and reactivation of the
production facility by Indonesian engineers and technicians.
subsea power cable to WHP B.
The Company also completed the Terubuk Field development,
comprising two platforms and six wells, brought onstream In 2026, MedcoEnergi plans to drill the West Belut H-04
ahead of schedule in April and July 2025. The Terubuk platforms, development well to maintain gas delivery. The Company is
fully operated by solar power, achieved gross production of progressing the extension of the South Natuna Sea Block B PSC
6,654 bopd of oil and 60 mmscfd of gas. for 20 years beyond October 2028. In the Natuna Sea, MedcoEnergi
also holds a 100% participating interest in the Beluga PSC and has
The inauguration of first production from the Forel and
initiated the termination of the North Sokang PSC in November 2025,
Terubuk fields was officiated by the President of Indonesia,
pending Government approval.
Prabowo Subianto. The project contributes to national energy
Project Highlights
Project Terubuk Project Forel
• Showcase innovative Engineering, Procurement, Construction and • The Forel Project includes the development of two platforms
Installation project management strategies, enabling fast-track and seven wells.
offshore development in marginal fields – from “Front End • The FPSO will support gross oil production from the Forel
Engineering Design to Ready For Start Up” – for unmanned Project of up to 10,000 bopd.
WHPs with gross production target 6,654 bopd and 60mmscfd.
• The project was successfully brought onstream on
• Terubuk Project delivers a scalable model for fast-track offshore May 12, 2025.
development in marginal fields that enables balancing efficiency,
• This project demonstrates innovation and self-reliance in the
sustainability, and profitability execution.
development of offshore production facilities and supports
• Execution Result: Indonesia’s energy security and sovereignty.
• Onstream in April and July 2025 – ahead of the Final Investment
Decision (FID) schedule, and 9% lower FID budget. 20%
average reduction in jacket procurement & fabrication, 13%
long lead items cost savings, and 11% GHG intensity reduction.
Terubuk Platform, South Natuna Sea Block B, Riau Islands Forel Platform, South Natuna Sea Block B, Riau Islands
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 39
Madura Offshore and Sampang, East Java Corridor continues to optimise facility operations and accelerate infill
drilling and exploration programmes to sustain base production and
MedcoEnergi is the operator of and holds a 67.5% interest in
unlock additional reserves. In 2026, the Company plans to continue
the Madura Offshore PSC (and 77.5% in the Meliwis field). It is
development drilling programmes including development of the
also the operator of and holds a 45% interest in the Sampang
Sambar Field, with three wells and a 25km pipeline connecting to
PSC. Both PSCs are located in the East Java Basin in the
the Dayung plant for processing at the Grissik facility.
Madura Strait.
Madura Offshore comprises three producing gas fields, Maleo, South Sumatra Region, South Sumatra
Peluang, and Meliwis, with 2025 gross production of 4.6 mboepd The Company holds a 65% interest in the South Sumatra PSC, a 60%
(26.1 mmscfd) and net production of 3.5 mboepd (20 mmscfd). interest in the Rimau PSC, a 100% interest in the Lematang PSC,
The Sampang PSC comprises two producing gas fields, Wortel and a 40% interest in the Amanah PSC. In 2025, South Sumatra PSC
and Oyong, with 2025 gross production of 2.1 mboepd (49 bcpd produced 13.3 mboepd gross (8.6 mboepd net), Rimau PSC achieved
condensate and 10.8 mmscfd gas) and net production of average production of 4.7 mboepd gross (3.1 mboepd net), and
0.9 mboepd (22 bcpd condensate and 4.9 mmscfd gas). Lematang PSC produced 2.6 mboepd. This performance was supported
by increased gas demand in the South Sumatra market, alongside
In 2025, these assets maintained strong safety performance, improvements in maintenance, facility integrity and reliability
achieving zero TRIR, marking 19 consecutive years without LTI programmes across the South Sumatra and Lematang PSC. Building
for Madura Offshore and 18 years for Sampang. The Company on this momentum, the Company secured gas allocation approval for
also progressed its GHG emissions reduction programme, an amendment to the Gas Sales Agreement (GSA) with Perusahaan
achieving a reduction of 159 tCO2e per 1,000 TOE of hydrocarbon Gas Negara (PGN), and is progressing discussions with additional
production, and optimised diesel fuel consumption for buyers from 2026 onwards.
marine transportation.
In 2025, Lematang PSC implemented a CPP lowering pressure
The Company has submitted a request to the Government programme as part of its production optimisation initiatives, delivering
to extend the Madura Offshore and Sampang PSCs, and the a 10% increase in production above baseline. The Company also
extension process is ongoing. submitted a PSC extension proposal to the Government in April
2025, targeting approval in 2026. This reflects the Company’s
Corridor, South Sumatra
commitments to sustaining long-term operations and revenues,
The Corridor Asset is MedcoEnergi’s largest and most strategic while reducing fuel gas consumption and greenhouse gas emissions
asset, located in South Sumatra and connected to major gas through utilisation of PLN electricity. In November 2025, the Company
pipeline networks. MedcoEnergi is the operator and, following received the Patra Nirbhaya Karya Madya Award from SKK Migas.
the acquisition of Repsol Corridor in mid-2025, holds a 70%
total interest in the Corridor PSC under a cost recovery regime At the Rimau PSC, the Company continues waterflood optimisation
through December 2043. Through PT Medco LNG Indonesia, programmes to maintain base production and enhance production
MedcoEnergi also holds a 40% interest in PT Transportasi Gas at the Kaji Semoga fields. In 2025, the Rimau PSC recorded a
Indonesia, which owns and operates extensive gas pipeline hydrocarbon discovery at the West Kalabau-1 exploration well.
network supplying customers in Central Sumatra, Batam, Formation evaluation and initial analysis confirmed the presence of
and Singapore. hydrocarbons, supporting further development planning. The Company
also obtained Government approval for Put On Production (POP)
Corridor is the third-largest gas producer in Indonesia, with gas at West Kalabau, which was brought onstream in January 2026.
sold under long-term contracts to prime buyers in Indonesia
and Singapore. In 2025, the asset contributed significantly to The Amanah PSC is an exploration block in which the Company
the Company’s production, with gross average production of holds 40% interest. The Company is currently preparing for seismic
107 mboepd (571.6 mmscfd gas and 4.1 mbopd oil/condensate) acquisition, planned for execution in mid-2027. The programme is
and net production of 59.6 mboepd (319.4 mmscfd gas and expected to identify potential hydrocarbon resources, subject to
2.3 mbopd oil/condensate). confirmation through future exploration drilling.
This performance was driven by facility optimisation and drilling Block A, Aceh
activities, including completion of the Suban Revamping and The Company is the operator of and holds an 85% interest in the Block A
LTR Expansion projects and the commissioning of three infill PSC in Aceh. In 2025, Block A PSC recorded average production of
wells. In 2025, the Corridor PSC achieved a direct operating 6.1 mboepd gross (5.2 mboepd net). To maintain production and facility
efficiency of 98.8%, reflecting high reliability across one oil field reliability, the Company executed a planned maintenance programme
and seven gas fields. The asset also advanced GHG emissions alongside wellhead replacement and acid fracturing activities between
reduction initiatives, including nitrogen gas blanketing, solar panel July and September 2025. In December 2025, to support the
installation, power conversion at the Rawa plant, flare reduction, sustainability of Block A gas production, continued exploration and
and optimisation of gas-driven engine operations. development activities, the Company submitted a proposal to
In addition, Corridor completed a 365 km² 3D seismic acquisition extend the PSC by 20 years. The Company also progressed Block A
in the Rebonjaro and Sumpal areas to mature exploration PSC Phase 2 development to maintain gas supply under existing
targets and support future reserves growth through targeted contractual commitments. In November 2025, the Company received
drilling activities. the Patra Nirbhaya Karya Utama award from SKK Migas, recognising
its strong commitment to maintaining high safety standards.
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2025 Management Business Company Corporate
40 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Oil & Gas
North Kalimantan Region achieved production of 68.7 mboepd gross or 20.6 mboepd net,
maintaining gas supply to buyers including Donggi Senoro LNG
The Company owns and operates a 100% interest in the Tarakan
(DSLNG), Panca Amara Utama, PLN, and PGN.
PSC. In 2025, the Tarakan PSC sustained gas delivery under the
existing GSA and recorded average net production of 1.2 mboepd, The South Senoro Development Project, which commenced in
supported by well interventions and facility optimisation, including 2024, made significant progress by the end of 2025 with the
integrity improvements. By the end of 2025, the Tarakan PSC completion of the South Senoro development drilling programme
obtained Government approval for the signing and implementation and partial commissioning including production testing from two
of a new GSA starting in 2026. The company is currently preparing South Senoro wells flowing to the Central Processing Plant (CPP) at
to execute the drilling of two wells by the end of 2026. In November North Senoro. South Senoro’s development will contribute additional
2025, the Company received the Patra Nirbhaya Karya Pratama gas supply to support existing gas sales commitments.
Award from SKK Migas.
Simenggaris
Bangkanai and West Bangkanai, Central Kalimantan
The Company holds a 62.5% participating interest in the Simenggaris
The Company owns and operates a 70% interest in the Bangkanai PSC, which is operated by the Joint Operating Body Pertamina –
PSC and a 70% interest in the West Bangkanai PSC. In 2025, Medco E&P Simenggaris (JOB Simenggaris). In 2025, JOB Simenggaris
average production from the Bangkanai PSC was 3.7 mboepd recorded strong safety performance with zero LTI and achieved
gross (2.6 mboepd net), a 10% increase from 2024 due to average production of 2.1 mboepd gross or 1.3 mboepd net,
successful commencement of condensate delivery through reflecting stable operations. During the year, JOB Simenggaris
pipeline since Q2-2025. Also in 2025, the Company obtained completed development drilling of the SSB 9 well, which was brought
Government approval for the Kerendan Phase II Plan of onstream in December 2025 and executed a workover programme
Development, including improvements to the Bangkanai PSC’s to maintain stable gas supply to Kayan LNG. In February 2026,
terms and conditions. The Company is currently seeking approval the Company has entered into a Conditional Sales and Purchase
for a PSC extension beyond its contract expiry date, as well as Agreement to divest the asset.
amendments to existing terms to enable commercialisation of
stranded gas volumes for both existing buyers and new potential Sakakemang
gas markets. The PSC Extension is expected to support continuity
In 2025, the Company acquired a 45% operating interest in the
of operations while reducing fuel gas consumption and greenhouse
Sakakemang PSC located in South Sumatra. The Sakakemang PSC
gas emissions through the utilisation of PLN electricity. In November
holds an approved Plan of Development from the Indonesian
2025, the Bangkanai PSC received the Patra Nirbhaya Karya
Government with production targeted in Q3-2027 and is strategically
Pratama Award from SKK Migas. The West Bangkanai PSC was
located adjacent to the Medco-operated Corridor PSC. The acquisition
an exploration PSC that expired in November 2025 and the
forms part of the Company’s broader expansion of its core South
Company decided not to pursue its extension.
Sumatra footprint, following its increased Participating Interest in
Senoro-Toili the Corridor PSC and the award of the South Sumatra Amanah
exploration PSC. The Sakakemang PSC is supported by established
The Company holds a 30% participating interest in the Senoro regional infrastructure and market access, aligning with the
Toili PSC, which is operated by the Joint Operating Body Pertamina Government of Indonesia’s programme to strengthen national
– Medco E&P Tomori Sulawesi (JOB Tomori). In 2025, JOB energy security and the Company’s strategy to secure long-life,
Tomori recorded strong safety performance with zero LTI and cash-generating gas assets with growth potential.
Sakakemang Block, South Sumatra
Page 43
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 41
Type of Area
Asset Expiry Participating Interests Status
Contract (Km2)
• Medco E&P Natuna Ltd. 40% (operator)
South Natuna Sea,
PSC 11,155 2028 • PT Medco Daya Natuna 35% Production
Block B, Riau Islands
• Prime Natuna Inc. 25%
Corridor, • Medco E&P Grissik Ltd. 70% (operator)
PSC 2,095 2043 Production
South Sumatra • PT Pertamina Hulu Energi Corridor 30%
• PT Medco E & P Tomori Sulawesi 30%
Senoro-Toili,
PSC JOB 451 2047 • PT Pertamina Hulu Energi Tomori Sulawesi 50% Production
Central Sulawesi
• Tomori E&P Ltd. 20%
• PT Medco E & P Malaka 85% (operator)
Block A, Aceh PSC 1,361 2031 Production
• PT Medco Daya Energi Nusantara 15%
South Sumatra, • PT Medco E & P Indonesia 65% (operator)
PSC 3,279 2033 Production
South Sumatra • PT Medco Daya Makmur 35%
• PT Medco E & P Rimau 60% (operator)
Rimau, PSC
1,101 2043 • PT Bahtera Daya Makmur 35% Production
South Sumatra (gross split)
• PT Sumsel Energi Rimau 5%
• PT Medco E & P Lematang 51% (operator)
Lematang,
PSC 233 2027 • Medco Lematang BV 26% Production
South Sumatra
• Lematang E&P Limited 23%
• Medco Energi Madura Offshore Pty Ltd 67.5% (operator)
Peluang and
Madura • Petronas 22.5%
Maleo fields
Offshore, PSC 849 2027 • Petrogas Pantai Madura 10% Production
East Java Meliwis • Medco Energi Madura Offshore Pty Ltd 77.5% (operator)
field • Petronas 22.5%
• Medco Energi Sampang Pty Ltd. 45% (operator)
Sampang, East Java PSC 534 2027 • Singapore Petroleum Company 40% Production
• Cue Sampang Energy Pty Ltd. 15%
Tarakan, PSC
179 2042 • PT Medco E & P Tarakan 100% Production
Kalimantan (gross split)
Bangkanai, • Medco Energi Bangkanai Ltd. 70% (operator)
PSC 1,385 2033 Production
Kalimantan • PT Saka Bangkanai Klemantan 30%
Simenggaris, • PT Medco E & P Simenggaris 62.5%
PSC JOB 546 2028 Production
Kalimantan* • PT Pertamina Hulu Energi Simenggaris 37.5%
West Bangkanai, • Medco Energi West Bangkanai Ltd. 70% (operator)
PSC 5,463 2043 Exploration
Kalimantan** • PT Saka Energi Bangkanai Barat 30%
North Sokang,
PSC 1,124 2040 PT Medco Energi Natuna Timur 100% Exploration
Riau Islands**
Beluga,
PSC 8,472 2053 PT Medco Energi Beluga 100% Exploration
Riau Islands
• MedcoEnergi Amanah 40% (operator)
Amanah,
PSC 1,753 2054 • PT Sele Raya Sejati (30%) Exploration
South Sumatra
• Kufpec Indonesia (Amanah) B.V. (30%)
Sakakemang, PSC 536 2040 • Medco E&P Sakakemang B.V. 45% (operator) Development
South Sumatra • PC Sakakemang B.V. 45%
• Moeco Sakakemang B.V. 10%
* In the process of divestment, entered into a conditional SPA in February 2026
** PSC terminated in November 2025, and is currently pending government approval
Page 44
2025 Management Business Company Corporate
42 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Oil & Gas
International Oil & Gas Assets Block 60 is a producing asset comprising the Bisat oil field and the
ABB gas and condensate field.
Bualuang, Thailand
During the year, a total of 75 wells were drilled across the Bisat
MedcoEnergi holds a 100% ownership and operating interest
and ABB fields for development, appraisal, and exploration. In 2025,
in the Bualuang field, located in the B8/38 offshore block in the
Block 60 recorded an average gross production of 67.8 mboepd
Gulf of Thailand. The field consists of three platforms producing
(13.6 mboepd net) following the successful Bisat-C Expansion
to a leased FSO unit. With a strong safety record of more than
started coming onstream on June 16. Bisat Permanent Power
11 years without a LTI and managing over 9 million cumulative
Supply project was fully commissioned in December, providing
manhours, the field delivered average net oil production of
complete Bisat Station electrification change over from a gas-fired
4.6 mbopd in 2025. The asset continued to optimise operations
own power plant to the national electrical grid, which will also save
through targeted workover and drilling programme, improving
fuel gas for operations. During this period, Block 60 achieved its
equipment reliability and facility debottlenecking to manage
highest gross production record of 77.2 mboepd on October 7.
produced water efficiently. The debottlenecking project was
brought on stream in October 2025, followed by a combined The block also recorded successful exploration results in
workover and infill drilling campaign that commenced the same the ABBN Haushi–Upper Gharif formation, which entered
month and is expected to continue through Q1-2026. In August development in early 2025 and has begun contributing approximately
2025, the Company signed a Concession Supplementary 13.5 mmscfd of gas and 1,700 gross bcpd. To build on this success,
Agreement with the Government of Thailand, extending the further resource potential is being pursued through exploration
field’s operating horizon by 10 years. drilling of ABB 85 (Lower Gharif) and Nafeesa (NFS 01H6,
Upper Gharif) during 2025.
Karim Small Fields, Oman
In 2025, MedcoEnergi, holding a 58.5% operating interest of To sustain, optimise, and increase production, several initiatives
Karim Small Fields (KSF) Service Contract, continued exploration, are underway, including prioritisation of infill drilling, water shut-off
development, and EOR activities across 34 fields. A drilling trials, application of fishbone technology, implementation of
programme of 33 wells was executed, including the Anuq a refracturing programme, tighter well spacing pilots in Bisat,
West-1 exploration success, adding 350 bopd (gross) from the wellhead compressor in ABB, debottlenecking of Bisat-C & Bisat-C
Ara/Birba reservoir. These activities, combined with infill drilling, Expansion, and evaluation of additional water treatment capacity
waterflood programmes, and steam flood projects, increased through the Bisat-E Project and peripheral water injection.
production to 15.4 mbopd and resulted in 2P reserve additions
Block 48, Oman
of 9 mmbo, and the advancement of long-term growth through
the Ilham Steam Flood Field Development Plan and Simsim As part of the Block 60 transaction, the Company also acquired a
Chemical EOR experiments. 20% interest in Exploration Block 48. Located adjacent to and west
of Block 60, the EPSA for Block 48 was signed in March 2017. On
The asset maintained strong safety performance, achieving November 12, 2025, Block 48 received approval from the Ministry
six consecutive years without LTI, zero Motor Vehicle Incident of Energy and Minerals (MEM) to extend its exploration period for
(MVI), and zero PSE Tier-1 and Tier-2 incidents, while four years, until December 31, 2029. This extension also enables
maintaining compliance with ISO 9001, 14001, 45001, cost recovery of exploration expenditures incurred in the northern
and 37001 standards. area of the block.
Block 56, Oman In 2025, Block 48 achieved a successful exploration result with the
The Company maintains a 5% stake in Onshore Block 56. drilling of MLHS 2H4 (Shuaiba), which demonstrated a stabilised
After discoveries in the block, Tethys, the operator, submitted production rate of 840 bfpd, 292 bopd, with 65% Base Sediment &
a field development programme to the Ministry of Energy and Water, and a cumulative tested oil volume of 5,047.7 barrels.
Minerals for approval and to secure a declaration of commerciality.
Following MEM’s approval of the four‑year exploration extension
On November 19, 2024, the Ministry, through the Joint
and the successful results from MLHS‑2H4, OQ as the operator
Management Committee, approved the field development
plans to appraise the MLHS structure in 2026 as part of preparations
programme and the declaration, extending the validity of the
for a Declaration of Commerciality. In parallel, exploration activities
exploration and production sharing agreement (EPSA) for
will continue, including the acquisition of new 3D Wide-Azimuth
20 years until 2045.
(WAZ) seismic data in the northern area of Block 48 and the
In 2025, the operator focused on testing existing wells to enhance side‑tracking of well MLH‑03 to confirm production potential in
performance understanding, analysing newly acquired seismic the Upper Gharif.
data from Petroleum Development Oman, preparing for execution
Blocks 1 and 4, Tanzania
and engaging with partners through the Operating Committee
Meeting to optimise the overall development programme. The Company holds 20% non-operated interests in each of Blocks 1
and 4, offshore Tanzania. The blocks contain 10 deepwater gas
Block 60, Oman discoveries with certified (2C) contingent resources of 15 tcf (gross).
In December 2023, MedcoEnergi acquired a 20% interest Negotiations with the Government of Tanzania are progressing to
in Block 60, located in western Oman near the border with create a pathway for an investable and competitive LNG project.
Saudi Arabia. The Exploration and EPSA has a duration of The exploration contracts for Blocks 1 and 4 were extended
30 years, ending in 2048, with an option for a 10-year extension. in June 2025 until December 2028.
Page 45
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 43
Block 9 Malik, Yemen Cendramas, Malaysia
The Company holds a 21.25% non-operated interest in Block 9, On March 31, 2026 the Company signed the Cendramas PSC,
which contains four producing oil fields. In 2025 all fields remained re-entering Malaysia as the operator of this offshore oil block.
shut down due to the political situation in the country. The Cendramas PSC is located near South Natuna Sea Block B
area and shares similar geology and technical characteristics.
Blocks 10 & 12, Mexico Medco Asia Pacific Limited is the designated operator, joined by
The Company holds 20% non-operated interests each in the partners DIALOG Resources Sdn. Bhd. and EnQuest Petroleum
deepwater exploration Blocks 10 and 12, located in the Mexican Production Malaysia Ltd.
Ridges and Sureste basins. Both blocks are in the process of
relinquishment, expected to be completed in 2026.
Asset Type of Contract Area (Km2) Expiry Participating Interests Status
Bualuang B8/38 Block, • Medco Energi Thailand (Bualuang) Limited 60%
Concession 377 2035 Production
Thailand • Medco Energi Thailand (E&P) Limited 40%
• Medco Asia Pacific Limited 50% (operator)
Cendramas, Malaysia* PSC 680 2046 • DIALOG Resources Sdn. Bhd. 25% Production
• EnQuest Petroleum Production Malaysia Ltd. 25%
• Medco Oman LLC (operator) 75%
• Oman Oil Company 25%
Karim Small Fields, Service Medco Oman LLC shareholders:
907 2040 Production
Oman agreement • Medco International Enterprise Ltd. 78%
• Eng. Abdul Rahman Barham 10%
• Vision Oil & Gas 6.67%
• Petrovest General Trade 5.33%
• Medco Arabia Ltd. 5%
• Biyaq Oilfield Services LLC 25%
Block 56, Oman EPSA 5,808 2045 Exploration
• Tethys Oil Oman Onshore Ltd. (operator) 65%
• Intaj LLC 5%
• OQ Exploration & Production 60% (operator)
Block 60, Oman EPSA 1,485 2048 • Medco Daya Oman Block 60 Pte Ltd. 20% Production
• Medco Energi Oman Block 60 Pte Ltd. 20%
• OQ Exploration & Production 60% (operator)
Block 48, Oman EPSA 2,995 2048 • Medco Daya Oman Block 48 Pte Ltd. 20% Exploration
• Medco Energi Oman Block 48 Pte Ltd. 20%
• Calvalley Petroleum Ltd. 42.5%
• Hood Oil Ltd. 21.25%
Block 9 Malik, Yemen PSA 4,728 2030 Production
• Yemen Oil and Gas Corporation 15%
• Medco Yemen Malik, Ltd. 21.25%
• Repsol (operator) 40%
Block 10, Mexico PSC 1,999 2023 • Petronas 40% Exploration
• MedcoEnergi 20%
• Petronas (operator) 60%
Block 12, Mexico PSC 3,099 2023 • PTTEP 20% Exploration
• MedcoEnergi 20%
Block 1 and PSA 8,512 2028 • Shell (operator) 60% Development
Block 4, Tanzania and • Pavilion Energy 20%
3,784 • MedcoEnergi 20%
* Existing PSC expires September 22, 2026. New 20-year PSC signed March 31, 2026, effective September 23, 2026.
Page 46
2025 Management Business Company Corporate 44 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Power Our organisational transformation initiatives will enhance operational excellence and sharpen project execution discipline. Eka Satria President Director
Page 47
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 45
Performance Overview Power Sales
Established in 2004, Medco Power Indonesia (Medco Power)
has grown into a leading Independent Power Producer (IPP),
delivering reliable power across Indonesia. Medco Power is
4,371 GWh
MedcoEnergi’s key growth platform for the energy transition.
It owns and operates 15 Gas to Power, Geothermal, Solar PV,
and other Renewables IPPs (both operating and in the pipeline)
Employees
and provides Operation & Maintenance (O&M) services for its
own and third-party power plants across Bali, Batam, Java,
Sumatra, Sumbawa, Timor, and Sulawesi. 1,037
In 2025, Medco Power generated sales of 4,371 GWh, up 6%
year-on-year, with 25% from renewable sources. Medco Power’s
continued expansion of renewable capacity is aligned with
Indonesia’s Electricity Supply Business Plan (RUPTL) 2025-2034, Number of Assets
15
which prioritises renewable energy to support the country’s
net-zero emissions target by 2060. The government plan targets
76% of new power additions from renewable energy, with 71%
expected to come from IPPs such as Medco Power. Operating & in the Pipeline
Strategic Progress
Operational performance and safety: Medco Power’s sales in
2025 exceeded the Company’s full-year guidance of 4,300 GWh.
Power generation increased by 6%, driven by contributions from and Environment (HSE) Management System. In addition, a Social
new renewable IPPs at Ijen and East Bali, as well as improved and Security Management System was implemented to strengthen
performance at Sarulla. In the first half of 2025, the 35 MW Ijen risk assessment and preparedness for potential security threats,
Geothermal Unit 1 and the 25 MWp East Bali Solar PV project ensuring the Company maintained its Social Licence to Operate.
commenced commercial operations and were inaugurated by However, the overall TRIR of 0.59 highlights the importance to further
the President of Indonesia, Prabowo Subianto. In November embed our safety culture during the execution of new projects.
2025, the Energi Listrik Batam (ELB) Expansion reached
commercial operation, adding 39 MW of capacity by utilising Transformation Initiatives: Medco Power launched its Transformation
waste heat from the existing ELB Gas-fired IPP. Initiatives to strengthen execution discipline and improve financial
performance. Supported by an international consulting firm, the programme
Medco Power completed the installation of two 140-metre wind focused on operational reliability, cost efficiency, and governance
measurement towers in West Sumbawa Regency as part of an across assets. Early outcomes include improved coordination, clearer
initial feasibility study to assess site conditions and the region’s accountability, and more structured KPI-based performance monitoring.
renewable energy potential. The programme will continue into 2026, focusing on accelerating
implementation and embedding sustainable performance improvements.
The O&M portfolio expanded with the COD of the second and
final 50 MW unit of Timor-1 CFSPP in August 2025, completing Project and Portfolio Highlights
the plant’s total capacity of 100 MW, as well as two 50 MW
units of Sulut-1 CFSPP in March and July 2025. These additions Ijen Geothermal: In February, Medco Power commenced commercial
strengthened the Company’s O&M capabilities and diversified operations at Ijen, the first geothermal power facility in East Java.
its revenue streams beyond owned generation assets. With a total planned capacity of 110 MW, the plant began operations
with its first unit delivering 35 MW to the Java electricity grid under
We always prioritise the health and safety of our employees as a 30-year power purchase agreement (PPA). Supported by 83
well as contractors, vendors, and local communities. In 2025, transmission towers and a 150kV transmission line, the project
Medco Power recorded zero lost time incidents and occupational enhances local grid stability and is expected to supply electricity to
illnesses, maintained an Independent Level safety culture maturity approximately 85,000 households in the Java-Bali system. Upon full
rating, and achieved 56 million cumulative safe working hours, up completion, the plant is expected to avoid up to 210,000 tCO2e
from 49.7 million in 2024. Medco Power maintained its SMK2 and of emissions annually. Ijen is Medco Power’s second geothermal
SMK3 certifications, along with ISO 45001 for occupational health facility after Sarulla in North Sumatra. The project also received
and safety, ISO 9001 for Quality Management System, and recognition from IBEA as Best Renewable Energy IPP – Technology
ISO 14001 for Environmental Management System. These Innovation, and a PRATAMA Certificate from EBTKE for its
certifications underpin the Company’s integrated Health, Safety implementation of safety and geothermal engineering practices.
Page 48
2025 Management Business Company Corporate
46 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Power
IPP Installed Capacity Over its operational lifetime, the plant is expected to avoid more
than 800,000 tonnes of CO2 emissions.
1,011 MW Energi Listrik Batam Expansion: In November 2025, Medco Power
completed the 39 MW Expansion project at ELB, increasing total
plant capacity to 109 MW combined-cycle plant. By utilising exhaust
heat from gas turbines to generate additional power through a steam
turbine, the plant increases efficiency and reduces carbon intensity
Renewable Sales from 0.8 to 0.5 tonnes of CO2 per MWh, strengthening electricity
25%
supply for Batam and Bintan’s industrial growth.
Bonjol Geothermal: In 2025, Medco Power completed drilling
the first two exploration wells at the Bonjol Geothermal licence
in West Sumatra. The wells were drilled under the Preliminary
Survey and Exploration (PSPE) programme. The area is estimated
to have geothermal potential of up to 60 MW and is included
among the National Strategic Projects under the 2025-2034 RUPTL.
East Bali Solar PV: In July 2025, Medco Power commenced The Company is currently analysing the exploration drilling results
commercial operations at its 25 MWp East Bali Solar PV plant to support progression of the licence to the next phase.
located in Karangasem, East Bali. Over the next two decades,
the facility will supply renewable energy to the local grid,
Environment and Society
displacing conventional power sources and contributing to national Environmental sustainability and social responsibility are integral
efforts to reduce greenhouse gas (GHG) emissions. The plant is to Medco Power’s business practices. Medco Power remains
expected to generate approximately 50 GWh of electricity annually, committed to operating responsibly and contributing to the
equivalent to the energy needs of around 42,000 households. communities it serves.
Power Generated Sales (GWh)
Plant Location Fuel-Type 2021 2022 2023 2024 2025
Gas-fired IPPs
Mitra Energi Batam Riau Islands Gas 553 551 565 574 582
Dalle Energy Batam Riau Islands Gas 629 634 579 617 549
Energi Listrik Batam Riau Islands Gas 521 521 521 523 553
South
Energi Prima Elektrika Gas 71 73 69 72 62
Sumatra
South
Multidaya Prima Elektrindo Gas 74 74 75 75 73
Sumatra
Medco Ratch Power Riau Riau Gas – 1,285 1,544 1,418 1458
Total Gas-fired IPPs 1,848 3,138 3,354 3,277 3,277
Renewable IPPs
Pusaka West Java Mini-hydro 41 42 38 44 46
Cibalapulang West Java Mini-hydro 38 33 21 31 43
North
Sarulla Geothermal 791 757 702 715 686
Sumatra
West Nusa
Sumbawa Solar PV – 23 40 42 38
Tenggara
East Bali East Bali Solar PV – – – – 24
Ijen Unit 1 East Java Geothermal – – – – 257
Total Renewable IPPs 870 855 801 831 1094
Total Power Generated Sales 2,718 3,993 4,155 4,108 4,371
Page 49
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 47
Outlook and Priorities Power Capacity
Following the East Bali Solar PV and the Power Plants and O&M Effective Ownership Gross Capacity
Ijen Geothermal Unit 1, Medco Power will Independent Power Producers (IPPs)
continue to expand its renewable energy
portfolio. Key priorities include advancing Installed
the next phases of Ijen development, Mitra Energi Batam 42% 85 MW
continuing geothermal exploration in
Dalle Energy Batam 48% 85 MW
Bonjol (West Sumatra) and Samosir
(North Sumatra), and completing feasibility Energi Listrik Batam 43% 109 MW
studies for wind development in West
Energi Prima Elektrika 56% 12 MW
Sumbawa for both captive markets
and PLN. Multidaya Prima Elektrindo 51% 12 MW
At the same time, the Company continues Medco Ratch Power Riau 51% 275 MW
to strengthen its gas-to-power portfolio Pusaka, Mini-hydro 100% 9 MW
as a key enabler of the energy transition.
Cibalapulang, Mini-hydro 70% 9 MW
Building on the successful ELB combined
cycle expansion in Batam, Medco Power Sarulla, Geothermal 19% 330 MW
is advancing the expansion of its existing Sumbawa, Solar PV 50% 26 MWp
Batam gas-fired power plant. This project
is designed to support the Batam region, East Bali, Solar PV 51% 25 MWp
where electricity demand remains among Ijen, Geothermal Unit 1 51% 35 MW
the highest in Indonesia, while enhancing
grid reliability and efficiency. Subtotal 1,011 MW
Development
Medco Power will also strengthen
its organisational capabilities and Ijen, Geothermal Unit 2 & 3 51% 75 MW
operational performance by advancing West Bali, Solar PV 51% 25 MWp
its transformation initiatives. In parallel,
Medco Power will pursue strategic Subtotal 100 MW
acquisitions, joint ventures, and Exploration
partnerships to increase capacity and
Bonjol PSPE, Geothermal 100% ~60 MW
access advanced technologies.
Samosir PSPE, Geothermal 100% ~40 MW
Subtotal 100 MW
Total IPPs 1,211 MW
Operation & Maintenance
Installed
TJB Power Services 50% 1.320 MW
Sarulla, Geothermal 62% 330 MW
Riau 62% 275 MW
Sulut-1 Unit 1 & 2 100% 100 MW
Timor-1 Unit 1 & 2 100% 100 MW
Ijen, Geothermal Unit 1 60% 35 MW
Subtotal 2,160 MW
Development
Ijen, Geothermal Unit 2 & 3 60% 75 MW
Subtotal 75 MW
Total Operation & Maintenance 2.235 MW
Total Gross Capacity 3.446 MW
Page 50
2025 Management Business Company Corporate 48 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Copper & Gold Mining A defining year for our copper and gold business, marked by the production of our first copper cathode & refined gold and the resumption of copper concentrate exports, as we navigated evolving market dynamics and operational challenges with disciplined execution across our assets. Rachmat Makkasau President Director PT Amman Mineral Nusa Tenggara
Page 51
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 49
PT Amman Mineral Nusa Tenggara (“AMNT”), a subsidiary Elang Ore Reserves
2.5
of publicly listed PT Amman Mineral Internasional Tbk (IDX:
AMMN), is a leading copper and gold producer operating
the Batu Hijau mine in West Sumbawa Regency, West
Nusa Tenggara Province. This open pit mine, which began billion metric tonnes
commercial operations in 2000, produces clean copper
concentrate containing copper, gold, and silver. Batu Hijau
is the second-largest copper–gold mine in Indonesia,
according to Wood Mackenzie’s Copper & Gold Markets Annual Smelter Feed
900,000
and Asset Benchmarking Report of May 2022.
AMNT operates under an IUPK-OP, a special mining
business licence for production and operations, with a tonnes of copper concentrate
concession area spanning 25,000 hectares, divided into
four blocks. The current IUPK-OP is valid until 2030,
with two 10-year extensions.
Following the inauguration of its copper smelter and precious
metal refinery by President Joko Widodo in September 2024,
AMNT has solidified its position as one of Indonesia’s fully
integrated copper and gold producers. These investments
reinforce the Company’s leadership in advancing Indonesia’s AMNT also received the PRISMA Award from the
industrial transformation. Indonesian Ministry of Human Rights – one of only
eight companies in the country to earn this prestigious
2025 marked a transformational year for the Company, recognition. The award highlights the Company’s strong
as AMNT became a fully integrated mining-to-smelting commitment and compliance with Human Rights (HAM)
producer of refined copper and gold. In parallel, the Company principles through the Business and Human Rights Risk
transitioned to Phase 8 of its mining operations, which Assessment System (PRISMA), a government-designed
typically involves processing lower-grade ore from the instrument encouraging businesses to align with international
outer portions of the porphyry deposit. This transition was frameworks while strengthening national investment
anticipated and forms part of the Company’s long-term mine competitiveness. In addition, AMNT also received the
plan, with operations progressing in line with expectations. Best Practices in Processing Award at the 4th ASEAN
Mineral Awards 2025, recognising excellence in mineral
The Company broadly met its 2025 mining production processing and industry best practices.
guidance, producing 446,563 dry metric tons (dmt) of
copper concentrate, containing 208.9 Million Pounds (Mlbs) Elang Project
of copper and 102.8 kilo ounces (koz) of gold. While copper
production was 8% below guidance, gold production AMNT continues to advance copper and gold development
exceeded guidance by 14%, driven by the processing within its concession area, with a primary focus on Elang
of higher-grade fresh ore in Q4-2025. – one of the world’s largest undeveloped copper–gold
porphyry deposits. Located approximately 60 km east
In smelting and refining, AMNT encountered commissioning- of the Batu Hijau mine, and 12 km north of the south
related challenges, which are not unusual for projects of this coast of Sumbawa Island, Elang represents a major
scale and complexity. Despite these challenges, the Company growth opportunity.
successfully achieved first copper cathode production in
March 2025 and first refined gold production in July 2025, In 2020, our exploration team discovered a second,
marking key milestones in its downstream integration. During deeper porphyry known as Elang South, situated
FY2025, the Company produced 79,849 tonnes (equivalent immediately southwest of the main Elang orebody.
to 176 Mlbs) of copper cathode and 124.7 koz of refined gold. Subsequent core drilling from 2020 to 2024, combined
with engineering and economic studies, indicate that the
In 2025, AMNT received several prestigious recognitions open pit at Elang will be significantly larger than originally
reflecting its operational excellence, market standing, designed. According to the 2024 Joint Ore Reserves
and commitment to responsible business practices. Committee (JORC) report, Elang ore reserves increased
In November 2025, AMNT achieved a “Fully Meets” rating substantially, rising by 79% from 1.4 billion metric tonnes
across all The Copper Mark criteria for its Batu Hijau mine, to 2.5 billion metric tonnes. This increase includes a
confirming full alignment with international environmental, 71% growth in contained copper, from 10.4 billion pounds
social, and governance (“ESG”) standards. The Copper Mark to 17.8 billion pounds, and a 76% increase in contained gold,
is a globally recognised accreditation for responsible copper from 15.0 million ounces to 26.4 million ounces. A Definitive
production practices. This milestone underscores that Feasibility Study (“DFS”) for Elang commenced in 2023 and
responsible mining is embedded at the core of AMNT’s was finalized by the end of 2025, and detailed front-end
operations and corporate identity. engineering work is currently underway.
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2025 Management Business Company Corporate
50 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Copper &
Gold Mining
Smelter and Precious Metals Refinery is expected to produce up to 579 kilo ounces of refined gold,
1.8 million ounces of refined silver, and other by-products.
In compliance with Indonesia’s Coal and Mineral Law No. 3/2020,
which mandates mining companies to develop smelting facilities AMNT produced its first copper cathode in March 2025 and first refined
to enhance the value of mineral commodities, PT Amman Mineral gold in July 2025. However, the copper smelter experienced temporary
Industri (“AMIN”), a subsidiary of PT Amman Mineral Internasional shutdowns in July and August 2025 due to repairs on the Flash
Tbk, has constructed a copper smelter and precious metals Converting Furnace and Sulfuric Acid Plant. Given these challenges,
refinery facility on a 150-hectare site located 1.5 km from AMNT received a concentrate export permit from the Government of
Benete Bay port, West Sumbawa. Indonesia, with a quota of 480,000 dmt valid until the end of April 2026.
The smelter has an annual processing capacity of 900,000 tonnes Repairs were completed ahead of schedule, allowing the smelter
of copper concentrate and it is designed to produce up to 220,000 to resume operations earlier than planned. Since recommissioning,
tonnes per year of Grade A LME copper cathode and 830,000 tonnes production has increased progressively and is tracking above the initial
per year of sulfuric acid. The Precious Metals Refinery (“PMR”) expectations. Throughout this process, AMNT has continued to apply
AMNT Smelter and Precious Metal Refinery, Sumbawa West Nusa Tenggara
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 51
rigorous operational controls and a prudent, risk-based approach In parallel, AMNT is completing construction and commissioning
to ensure the ramp up is conducted safely, reliably, and in line of its 450 MW Combined-Cycle Power Plant (“CCPP”), supported
with established standards. by an LNG terminal and regasification facility at Benete Bay. The
Batu Hijau mine is currently powered by a 112 MW coal-fired power
Expansion Projects plant, a 45 MW diesel power plant, and a 26.8 MWp solar photovoltaic
(“PV”) plant. Construction of the CCPP began in Q1-2023, with
In addition to the smelter, AMNT is also expanding its processing
staged commissioning from 2024 aligned with Company’s power
plant to increase its input capacity to approximately 85 million tonnes
requirements. The Company received its first LNG cargo from
of ore per year, more than doubling the current input capacity of
Pertamina in September 2025, and the regasification plant is now
35 – 40 million tonnes per year. This expansion will enable processing
operational. Commissioning of gas and steam generation units is
of ore from Batu Hijau’s Phase 8 and the future Elang mine, supporting
progressing according to plan. The CCPP will supply uninterrupted
the Company’s long-term growth plans. Construction for the Processing
power to the smelter, the processing plant expansion, and the
Plant Expansion Project commenced in 2021 and is expected to
future Elang project.
achieve mechanical completion and commissioning in 2026.
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2025 Management Business Company Corporate
52 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Other
Businesses
The Energy Building, Jakarta, Indonesia
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 53
PT Api Metra Graha PT Donggi-Senoro LNG (DSLNG)
The Company owns a 49% interest in The Company owns an 11.1% interest
PT Api MetraGraha (AMG). AMG holds in DSLNG, a joint venture company
several assets, including The Energy established in 2007 by a consortium
Building, a 43-storey office tower located consisting of MedcoEnergi, Mitsubishi
in Jakarta’s central business district. Corporation, KOGAS, and Pertamina.
Built in 2006 and in operation since 2008, DSLNG has a capacity of 2.1 million
this premium grade A building is tonnes per year.
MedcoEnergi’s headquarters.
PT Transportasi Gas Indonesia
PT Exspan Petrogas Intranusa The Company owns a 40% interest
PT Exspan Petrogas Intranusa is in PT Transportasi Gas Indonesia (TGI).
a wholly owned subsidiary, which TGI operates more than 1,000 Km of
operates one drilling rig and owns three the gas pipeline (both onshore and
workover rigs, all in active operation. offshore) connecting Grissik in the
Corridor PSC to Duri, Sumatra, and
PT Mitra Energi Pelayaran the Singapore market.
PT Mitra Energi Pelayaran is a wholly
owned subsidiary that provides marine Medco Foundation
and offshore support services through Medco Foundation, a nonprofit
the ownership and operation of a Floating organisation established in 2007,
Production Storage and Offloading (FPSO) is committed to improving the quality
Facility (“FPSO Marlin Natuna”) in Natuna, of life for communities both in areas
Riau Islands Province, and the ownership surrounding our operations and in other
of a supply vessel operating in Pulau Bunyu, parts of the country where assistance is
North Kalimantan Province. most needed. In 2025, Medco Foundation
expanded its tuberculosis elimination and
PT Mitra Energi Gas Sumatera stunting prevention campaigns in schools,
PT Mitra Energi Gas Sumatera is a engaged a greater number of employees
wholly owned subsidiary that provides in blood donation initiatives, constructed
integrated energy infrastructure services decent houses for underprivileged
encompassing gas transportation, pipeline communities in Medco’s operating areas,
operation and maintenance, gas engine strengthened the operation of women
generators, and compressor operation and children empowerment centres,
and maintenance. It owns and operates actively participated in climate change
a 17.5 Km pipeline located in Gunung actions, enhanced competencies and
Megang, Muara Enim, South Sumatra. developed marketing hubs for Medco’s
MSME partners, and delivered healthcare
PT Satria Raksa Buminusa
services, emergency logistics, and
PT Satria Raksa Buminusa is a wholly
access to clean water for disaster
owned subsidiary providing security
victims in Aceh and West Sumatra.
services to MedcoEnergi and several
third-party companies in Indonesia.
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2025 Management Business Company Corporate
54 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Company
Profile
Marlin Natuna FPSO, South Natuna Sea Block B, Riau Islands
Page 57
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 55
56 Who We Are
57 Vision, Mission and
Corporate Values
58 Company History
60 Value Creation Model
62 Management
66 People and Organisation
72 Financial Highlights
73 Operational Highlights
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2025 Management Business Company Corporate
56 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Who We Are
MedcoEnergi is a diversified energy and natural resources group listed on the Indonesia Stock
Exchange (MEDC-IDX) and the OTCQX® Best Market (MDCOY), with three key business sectors:
Oil & Gas, Power, and Copper & Gold Mining. Leveraging its access to capital, natural resources,
assets portfolio & infrastructure, and technical & commercial expertise, the Company drives
value creation by providing affordable, reliable, and sustainable energy, delivering long-term
returns for shareholders and stakeholders while upholding responsible stewardship of the
environment and communities.
Oil & Gas Power
MedcoEnergi primarily produces oil and gas in Indonesia, with Medco Power Indonesia, a wholly owned subsidiary of
additional operations in Oman, Thailand, and Yemen. We have MedcoEnergi, owns and operates 15 Gas to Power, Geothermal,
interests in 17 oil and gas assets in Indonesia, 12 of which Solar PV, and other Renewables IPPs (operating and in the
are producing. Internationally, we have interests in 10 oil and pipeline) and provides operation & maintenance (O&M)
gas properties, with four currently in production, along with services for its own and third-party power plants across Bali,
exploration assets in Oman and development assets in Tanzania. Batam, Java, Sumatra, Sumbawa, Timor, and Sulawesi.
In 2025, average production was 156 mboepd, comprising In 2025, power sales were 4,371 GWh, with 25% derived
72% gas and 28% oil. Key contributions came from South from renewable sources, including the start of commercial
Natuna Sea Block B (Terubuk and Forel) as well as projects in operations at the 35 MW Ijen Geothermal Unit 1, 25 MWp
Corridor, Senoro and Oman. Unit costs were US$8.6 per boe, East Bali Solar PV, and 39 MW Energi Listrik Batam
below guidance and consistent with the Company’s position Expansion project.
as a low-cost operator with cash costs under US$10 per boe
for several years.
In 2025, the Company strengthened its portfolio through the Copper & Gold Mining
acquisition of Repsol’s 24% interest in the Corridor PSC,
increasing its working interest to 70%, as well as securing a
45% operating interest in the Sakakemang PSC and in the MedcoEnergi holds a 20.9% interest in PT Amman Mineral
process of acquiring an 80% operating interest in the South Internasional Tbk (AMMN), a publicly listed copper and gold
Sakakemang PSC in South Sumatra. The Company also mining company. AMMN owns Batu Hijau, the second-largest
increased its effective ownership in PT Transportasi Gas copper–gold mine in Indonesia, and Elang, one of the world’s
Indonesia (TGI) to 40%. largest undeveloped copper–gold porphyry deposits.
In March 2026, MedcoEnergi signed the Cendramas PSC in In 2025, AMMN’s subsidiary PT Amman Mineral Nusa Tenggara
Malaysia as operator, further expanding its regional footprint. (AMNT) produced 446,563 dry metric tonnes (dmt) of copper
concentrate, containing 208.9 Mlbs of copper and 102.8 koz of
gold. During the year, AMNT achieved first production of copper
cathode in March, and refined gold in July from its newly
Sustainability Performance commissioned smelter and precious metals refinery. For the full
year, AMMN produced 79,849 tonnes (equivalent to 176 Mlbs) of
copper cathode and 124.7 koz of refined gold. AMMN also
MedcoEnergi implements a long-term sustainability, climate
secured a concentrate export permit during the fourth quarter,
change, and energy transition strategy with a strong
supporting operational continuity.
foundation of enterprise risk management and a proven track
record in ESG performance.
MSCI elevated us to the ’Leader’ category with an AAA rating
in March 2026, advancing from our previous AA rating. This Financial Performance
rating reflects MSCI’s recognition of MedcoEnergi’s progress
over the past seven years in integrating environmental, social, MedcoEnergi’s financial performance remains resilient, and
and governance (ESG) considerations into its business the Company’s healthy shareholder returns reflect its financial
strategy and operations. We also maintained our B rating from discipline and ability to maintain profitability. In 2025, Moody’s
CDP for our climate disclosures. Investors Service upgraded the Company’s credit rating to Ba3
from B1, with a Stable outlook. Fitch and S&P maintained their
MedcoEnergi remains on track to achieve its goals of reaching
BB- (Stable) ratings and Pefindo reaffirmed its idAA- stance.
net zero greenhouse gas (GHG) emissions for Scope 1 and
Scope 2 by 2050 and Scope 3 by 2060. The Company is In 2025, MedcoEnergi paid dividends totaling US$80 million
strengthening its energy transition capabilities by investing in (Rp53.4 per share), representing a 19% increase per share
the development and upskilling of its diverse workforce. year-on-year.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 57
Vision, Mission
and Corporate Values
Vision
To be the Energy Company of Choice for investors, shareholders,
partners, employees, and communities where we operate.
Mission
To build long-term value with a portfolio of sustainable energy and
natural resources businesses.
Corporate Values
Professional
All employees must conduct themselves in a professional manner by:
• Being competent in their area of expertise.
• Having a “champion spirit”.
• Always seeking self-improvement.
• Having professional capabilities and knowing their own limits.
Ethical
All employees must conduct themselves in an ethical manner by:
• Conducting business fairly with high moral integrity.
• Applying the highest ethical standards at all times.
• Understanding and following the Company’s ethics and Good Corporate Governance policies.
Open
All employees must make efforts to promote transparency by:
• Encouraging informality and openness in communication at all levels.
• Building an environment of trust among employees and management.
• Being open-minded in thought, behaviour, and work.
Innovative
All employees must cultivate a spirit of innovation by:
• Helping to build a culture of trailblazers.
• Continuously searching for innovative solutions to achieve better, safer and cost-effective outcomes.
• Demonstrating intellectual and emotional maturity.
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2025 Management Business Company Corporate
58 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Company
History
Established as Indonesia’s first drilling contractor,
MedcoEnergi has evolved into a diversified energy
and natural resources group with sustainability at
the core of its business strategy across Indonesia,
Southeast Asia, and the Middle East.
1980 1996 2015
Leading the Way Giant Discovery Upstream-Downstream
MedcoEnergi began its journey as Significant gas discoveries were LNG Operations
Indonesia’s first drilling contractor, made at the Kaji and Semoga Indonesia’s first integrated LNG value
following the acquisition of PT Meta fields within the Rimau Block. chain was established, combining
Epsi Pribumi Drilling Company. upstream and downstream activities
2006 in Central Sulawesi.
1992 Going West
Paving the Ground MedcoEnergi entered the
2016
The Company expanded beyond Middle East, operating the Expansion
drilling, becoming an E&P player Karim Small Fields in Oman MedcoEnergi broadened its resource
with upstream operations under a service contract. base through acquisitions in the South
established in East Kalimantan. Natuna Sea Block B PSC and the
2010 Amman Mineral Nusa Tenggara
copper and gold mining company.
1994 New Gas Production
Going Public
MedcoEnergi marked a major
20-year extensions of the
Block A PSC, Aceh and the
2018
milestone by listing on the South Sumatra PSC. Sustainable Growth
Indonesia Stock Exchange (IDX), The Block A Aceh gas facilities came
strengthening its platform
for growth. 2013 onstream, alongside the launch of
MedcoEnergi’s first Sustainability
Renewable Energy Report in accordance with
GRI Standards and 2018–2022
1995 The Company advanced into
renewables by signing the sustainability roadmap.
First Expansion world’s largest single‑contract
Through international expansion geothermal power project in
and domestic asset acquisitions, Sarulla, North Sumatra.
MedcoEnergi commenced
operations in the Rimau and
South Sumatra PSCs.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 59
2019 2022 2025
A Leader in Southeast Asia Reaching New Heights Value. Focus. Growth.
Through the acquisition of Ophir Growth accelerated through MedcoEnergi continues to
Energy plc, MedcoEnergi strengthen the successful acquisition of the strengthen its position as a leading
its position as a leading energy and Corridor PSC, reserve additions energy and natural resources company
natural resources company in across key assets. in Southeast Asia and the Middle East
Southeast Asia. through new oil and gas developments,
renewable energy expansion, and the
2023 first production of Amman Mineral’s
2020 Expanding Our Horizons copper smelter and precious metals
Weathering the Storm Broadened our global footprint
refinery. In 2025, we achieved
first production at the Terubuk and
Despite global disruption from through the successful IPO of
Forel fields, secured an extension
COVID-19 and energy market Amman Mineral, Oman acquisition,
for the Bualuang Oil Field in Thailand,
volatility, MedcoEnergi continued Corridor PSC extension, and Ijen
increased our stakes in the Corridor
to demonstrate resilience geothermal and solar PV projects.
and Sakakemang PSCs, and began
and adaptability.
operations at the Ijen Geothermal
2024 and East Bali Solar PV power plants.
2021 Energy for Growth
Alongside improved financial
performance, our strengthened
Building Our Future Reinforced our global position through ESG ratings reflect our commitment
Secured the extension for managing stronger ESG ratings, the inauguration to sustainability, safety, and
the Senoro‑Toili PSC and signed the of Amman Mineral’s copper smelter, operational excellence.
SPA to acquire ConocoPhillips’ and continued growth in new Oil &
Corridor PSC asset in Sumatra. Gas projects and renewable energy
accross Southeast Asia and the
Middle East.
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2025 Management Business Company Corporate
60 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Value Creation Model
Inputs Value Creation Engine
The resources we deploy to Our business segments translate strategy into action
run and grow the business to deliver affordable, reliable and sustainable energy
Expanding successful
Oil & Gas business model
Access to Capital
Affordable
Asset Portfolio &
Infrastructure
Value.
Focus.
Growth.
S u st
ble
ain
ia
bl
el
a
e R
Technical &
Commercial Expertise
ESG leadership and
long-term decarbonisation
Access to Natural
Resources
Enablers
Ensuring consistent execution and long-term value creation
Governance Capital Discipline
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 61
Outcomes
The long-term impact of our performance
Clean & Renewable Power,
Copper & Gold Mining Long-term value creation
to capture long-term growth for shareholders & stakeholders
Enhanced portfolio
competitiveness
Safe, capable and engaged
workforce & communities
Shareholder returns through
disciplined investment,
dividends and deleveraging Responsible stewardship
of natural resources
Operational Excellence Risk Management & Sustainability
Page 64
2025 Management Business Company Corporate
62 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Adviser Board of
Alwi Shihab Yani Y. Panigoro
Adviser President Commissioner
Nationality and Age: Indonesian, 79 years Nationality and Age: Indonesian, 74 years
Education Education
• Bachelor and Master of Arts degrees from Al-Azhar University, Egypt • Bachelor’s degree in Electrical Engineering from Institut Teknologi
(1966 and 1968) Bandung, Indonesia (1975)
• Ph.D. from University Ain Shams, Egypt (1990) • Master’s degree in Management from Sekolah Tinggi Manajemen–
• Master of Arts degree from Temple University, USA (1991) Bandung, Indonesia (1997)
• Ph.D. from Temple University, USA (1995) Professional Experience/Career Background
• Post Graduate from Harvard University, USA (1996) • Commissioner, MedcoEnergi (1998-2020)
Professional Experience/Career Background • President Director, PT Medco Intidinamika (1998-2020)
• Minister of Foreign Affairs, Republic of Indonesia (1999-2001) • President Director, PT Sarana Jabar Ventura (1994-2002)
• Coordinating Minister of People’s Welfare, Republic of Indonesia • President Commissioner, PT Sarna Bali Venture (2006-2024)
(2004-2005) Concurrent Positions
• Indonesian President’s Special Envoy for the Middle East for the • Member, Nomination & Remuneration Committee (2025-2030)
Organisation of Islamic Cooperation (2006-2011) • Chair, Sustainability & Risk Management Committee (2025-2030)
Concurrent Positions • Chair, GCG Committee (2025-2030)
• Chair, Indonesia MidEast Consultancy (2011-Present) • President Commissioner, PT Sarana Jabar Ventura (2001-Present)
Appointment and Tenure • President Commissioner, PT Medco Intidinamika (2000-Present)
• First appointed Adviser in 2007 • Chair, Indonesian Tuberculosis Association (PPTI) (2024-Present)
• Total years served: 18 • Board of Trustees, Yayasan Kanker Indonesia (YKI) (2025-Present)
Appointment and Tenure
• First appointed President Commissioner in 2020
• Total years served: 27
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 63 Commissioners Yaser R. A. Panigoro Marsillam Simandjuntak Commissioner Independent Commissioner Nationality and Age: Indonesian, 47 years Nationality and Age: Indonesian, 82 years Education Education • Bachelor’s degree in Information Technology from • Medical degree from Universitas Indonesia (1971) American Intercontinental University, USA (2002) • Law degree from Universitas Indonesia (1989) • Master of Business Administration from Loyola Marymount University, Professional Experience/Career Background USA (2012) • Co-chair, Reform Initiative Team on Tax and Customs of the Professional Experience/Career Background Minister of Finance, Indonesia (2006-2010) • Deputy Managing Director, MedcoEnergi Mining Indonesia (2019-2020) • Head, Presidential Working Unit on Programme Management and • Deputy Managing Director, MedcoEnergi Mining Internasional Reform, Indonesia (2006-2009) (2007-2010) • Secretary of Cabinet/Minister of Justice/Attorney General, Indonesia • Business Development Manager, MedcoEnergi (2003) (2000-2001) Concurrent Positions Concurrent Positions • Member, Sustainability & Risk Management Committee (2025-2030) • Chairman, Audit Committee (2025-2030) • Member, Nomination & Remuneration Committee (2025-2030) • Chairman, Nomination & Remuneration Committee (2025-2030) • Member, GCG Committee (2025-2030) • Chairman, GCG Committee (2025-2030) • Director, PT APRAMESIS and PT Ravotri Prima Investama • Member, Sustainability & Risk Management Committee (2025-2030) • Commissioner, PT Amman Mineral Industri Appointment and Tenure • Commissioner, PT Medco Daya Abadi Lestari • First appointed Commissioner in 2010 • Commissioner, PT Multi Fabrindo Gemilang • Total years served: 15 • Commissioner, PT Medco Intidinamika • Commissioner, PT Medco Agro Appointment and Tenure • First appointed Commissioner in 2015 • Total years served: 10
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2025 Management Business Company Corporate
64 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Board of Directors
Hilmi Panigoro Roberto Lorato Anthony R. Mathias
President Director Director & Chief Director & Chief
Executive Officer Financial Officer
Nationality and Age: Indonesian, 70 years Nationality and Age: Italian, 67 years Nationality and Age: British, 59 years
Education Education Education
• Bachelor’s degree in Geological Engineering • Master’s Degree in Mechanical Engineering • Bachelor’s degree in Electrical Engineering
from Institut Teknologi Bandung, from the University of Padua, Italy (1987) from Bradford University, UK (1989)
Indonesia (1981) • Master’s Degree in Energy Economics from • MBA from the Manchester Business School,
• Enrolled in MBA Core Programme of the Scuola Superiore Enrico Mattei, Italy (1988) UK (2004)
Thunderbird University, USA (1984) and • Master’s degree from the London Business • Holds the Competent Boards qualification in
received an MSc from the Colorado School School, UK (1994) Climate Change and completed a course in
of Mines, USA (1988) Professional Experience/Career Background Sustainability, Environment, Economy &
Professional Experience/Career Background • President Director, Premier Oil Indonesia Society from London School of Economics
• President Commissioner, MedcoEnergi (2010-2015) Professional Experience/Career Background
(2008-2015) • Managing Director, ENI Indonesia • Vice President of Finance and Information
• President Director, MedcoEnergi (2006- 2009) Technology, Premier Oil (2012-2015)
(2001-2008) • President & CEO, VICO (2003-2006) • Held various positions with ConocoPhillips
• Director, MedcoEnergi (1998-2001) • Managing Director, Agip, UK (2001-2002) (2006-2012) and Mobil Oil (2013)
Concurrent Positions • Member, IPA Board of Directors (2006-2015) Concurrent Positions
• Member, Sustainability & and President (2008 and 2009) • Member, GCG Committee
Risk Management Committee Concurrent Positions • Member, Sustainability &
• Member, GCG Committee • Member, Sustainability & Risk Management Committee
• Director and Commissioner of several Risk Management Committee Appointment and Tenure
MedcoEnergi group companies • Member, GCG Committee • First appointed Director in 2015
Appointment and Tenure Appointment and Tenure • Total years served: 10
• Re-appointed President Director in 2015 • First appointed Director in 2015 Other Information
• Total years served: 27 • Total years served: 10 • No affiliated relationships with members of
Other Information the BOC and BOD
• No affiliated relationships with members of
the BOC and BOD
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 65
Ronald Gunawan Amri Siahaan
Director & Chief Director & Chief
Operating Officer Administrative Officer
Nationality and Age: Indonesian, 61 years Nationality and Age: Indonesian, 60 years
Education Education
• Bachelor’s degree in Petroleum Engineering • Bachelor’s degree in Mechanical Engineering
from Institut Teknologi Bandung, degree from Institut Teknologi Bandung,
Indonesia (1988) Indonesia (1989)
• Master of Science in Petroleum Engineering • MBA from the University of Leicester, UK (2003)
from the Texas A&M University, USA (2000) • Holds the Competent Boards qualification in
Professional Experience/Career Background Climate Change
• Vice President Operations & Development, Professional Experience/Career Background
Premier Oil (2014-2015) • General Manager, Medco E&P Natuna
• President & General Manager, (2016-2018)
Hess Indonesia (2012-2014) • Vice President Government Affairs & Business
• Various management positions in operations Support, Premier Oil Indonesia (2011-2015)
and projects with Eni Australia and Eni E&P • General Manager Operations and Site Manager
(2007-2012) of Tangguh LNG, BP Indonesia (2009-2011)
• Vice President Assets, VICO Indonesia • Executive Assistant to the COO, Atlantic LNG
(2002-2006) Trinidad & Tobago (2007-2008)
Concurrent Positions • Vice President Semberah Asset,
• Nil VICO Indonesia (2004-2006)
• Vice President SCM, VICO Indonesia (2001-2004)
Appointment and Tenure
• Audit & Internal Control Manager,
• First appointed Director in 2015
BP Indonesia (2001)
• Total years served: 10
Concurrent Positions
Other Information
• Member, GCG Committee
• No affiliated relationships with members of
the BOC and BOD Appointment and Tenure
• First appointed Director in 2015
• Total years served: 10
Other Information
• No affiliated relationships with members of
the BOC and BOD
Page 68
2025 Management Business Company Corporate 66 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments People and Organisation Advancing a digital-ready organisation through people, disciplined processes, and technology to achieve faster decisions and flawless execution. Amri Siahaan Director & Chief Administrative Officer
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 67
As global business environments become increasingly Women represented
11%
digital, data-driven, and performance-focused, expectations
for faster decisions, reliable information, and disciplined
execution continue to rise. In response, MedcoEnergi is
strengthening a digital-ready organisation across People, of the total workforce and
21%
Process, and Technology, where leadership capability,
disciplined governance, and enterprise platforms work
together to enable consistent, data-driven performance
and organisational readiness. of managerial positions
Leadership Continuity and
Workforce Readiness
In 2025, MedcoEnergi strengthened leadership continuity
through a structured Talent Mapping and Succession
Planning framework to ensure readiness across critical roles.
More than 1,100 employees were evaluated, with 23%
Medco Leadership Behaviours (MLB) and embedded in
identified as high-potential talent. The succession review
the Performance Management System, reinforcing
covered nearly 400 targeted positions, reinforcing leadership
accountability and disciplined execution in daily operations.
depth and organisational stability in a more digitally
integrated environment. Capability reinforcement also supported the integration
of the Sakakemang PSC following the acquisition of a 45%
Building on this succession foundation, leadership
participating interest and operatorship. A well-managed
capability development continued through the third
transition aligned governance and operating standards,
batch of the Medco Senior Leadership Development with 78 staff joining MedcoEnergi. The process, led by
Programme (MSLDP), delivered in collaboration with a dedicated Transition – Integration Team, ensured
INSEAD. The programme trained 25 high-potential leaders operational continuity.
from Indonesia, Thailand, Oman, and Singapore on
advanced strategic thinking and execution capabilities. To support consistent execution, MedcoEnergi reinforced
Through strategic business projects and engagement workplace standards. The Respectful Workplace Policy
with the Board of Directors, participants applied Medco was formally launched through a hybrid event attended by
Leadership Behaviours in leadership practice. more than 700 participants, promoting a safe, inclusive,
and professional working environment.
Leadership capability was further strengthened through the
Lead and Inspire programme, which enhanced strategic Diversity and inclusion initiatives continued to progress
perspective and decision-making discipline for 20 participants. through targeted development pathways and the Women
This was followed by a dedicated Coaching Programme that @Work community. In 2025, women represented 11%
translated leadership insights into business-aligned initiatives of the total workforce and 21% of managerial positions,
across functions. reflecting steady advancement in women leadership
representation across the Company.
At the same time, early-career pipeline development
continued through the MedcoEnergi Business Apprentice Industrial relations remained constructive and stable
Programme (MBAP), focused on Finance, Information throughout the year. MedcoEnergi acknowledged 11 labour
Technology, and Planning. From more than 2,700 applicants, unions supported by seven Collective Labour Agreements
11 candidates were selected through a merit-based process (CLAs). During 2025, two CLAs were renewed and one
to strengthen the Company’s future talent pipeline. extended, ensuring continued alignment with regulatory
requirements while maintaining industrial harmony and
Workforce readiness was further reinforced through mutual trust.
more than 550 targeted technical enhancement
sessions, delivering over 124,700 training hours Employee engagement continued to be monitored through
across subsurface, engineering, wells, data science, a Pulse Survey involving approximately 900-1,000 employees
and sustainability programmes, including the Green across business units, supported by an independent third
Ambassadors for Inclusive Climate Action (GAIA) Champions party to ensure objectivity and confidentiality. Survey insights
initiative and Sustainability & Climate Change Fundamentals will guide targeted improvement initiatives to sustain
e-learning programmes. These efforts are anchored in engagement and organisational effectiveness.
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2025 Management Business Company Corporate
68 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
People and
Organisation
Operational Discipline and Process Governance Ethical procurement practices were reinforced through a
Human Rights Policy Workshop attended by nearly 200 vendor
Operational discipline was strengthened through tailored representatives. The 2025 Vendor Day, attended by nearly
organisation design, service performance measurement, 900 participants representing more than 400 suppliers, further
and supply chain governance to support consistent execution strengthened collaboration and alignment on execution standards.
across assets and business units. This has improved execution
consistency, strengthened accountability, and enhanced service In addition, a centralised vendor data management system was
effectiveness and delivery performance across the organisation. implemented across E&P operations in Indonesia, Thailand, and
Oman to enhance supplier transparency and improve delivery
Organisational Effectiveness performance. Selected procurement teams obtained competency
To ensure effectiveness across asset lifecycles, a structured certifications from the National Professional Certification Agency
framework links long-term strategic planning, operating to strengthen professional standards within supply chain functions.
philosophy, and organisation design. This approach ensures
alignment between asset-level structures and corporate Accelerating Digital Transformation To Deliver
standards, providing clarity of accountability and supporting Business Value
efficient decision-making.
Launched in 2022 and overseen by the Company’s leadership team,
HR Shared Service Performance MedcoEnergi’s five-year Digital IT strategy continued its execution
in 2025, marking the third year of implementation. Over the past
The Company implemented Key Performance Indicators (KPIs) for three years, the Company strengthened digital resilience, aligned
the HR Shared Service Centre (SSC), covering hire-to-terminate its IT operating model with business priorities, and established a
processes and the HR Hotline. These KPIs measure response strong foundation for transformation through execution across
times and service effectiveness through the Business Process four strategic pillars.
Management system, strengthening service consistency
and accountability. 1. Strengthening Our Digital Foundation
In 2025, the Company advanced system modernisation through
Sustainable Procurement Practices the commencement of the multi-year SAP S/4HANA migration
Sustainable procurement practices continued to be embedded and enterprise data management initiatives to improve system
across supply chain activities. Under the ONE MEDCO integration and data governance. Monitoring tools, dashboards,
programme, standardised tender requirements incorporate ESG and a centralised command centre were further developed to
criteria, including human rights, responsible sourcing practices, enhance issue detection, minimise operational disruptions, and
and environmental considerations. improve service quality across operations.
Suban Plant, Corridor Block, South Sumatra
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 69
2. Establishing a New Digital Operating Model Digital capability development continued through upskilling
To strengthen execution discipline, the Company established Programmes, including the Data Science Academy and
a centralised IT asset and service management system, Citizen Developer initiatives, complemented by design thinking
enabling systematic and proactive operational support. workshops and the establishment of a Digital Information
The Demand and Portfolio Management process was Technology competency framework. This included the second
further embedded into a formalised value submission batch of the Data Science Academy and the development of
framework to ensure disciplined prioritisation and a Digital Information Technology (DIT) competency model
measurable business value delivery across initiatives. in collaboration with leading IT solution consultants and
Indonesian universities.
3. Driving Digital Transformation Across the Business
Building on these structural improvements, the Company The Company also received recognition for digital innovation
expanded the deployment of Artificial Intelligence and and leadership, including awards at the Society of Petroleum
Machine Learning (AI/ML) across operational and corporate Engineers (SPE) Dubai, the SPE Java Region Hackathon 2025,
functions. We rolled out enterprise-wide AI/ML and internal the SKK Migas AI/ML Hackathon 2025, and SWA Magazine’s
Generative AI platforms to accelerate insights, collaboration, Indonesia Best Digital Innovation 2025.
knowledge management and data-driven decision-making
while maintaining data residency requirements. AI/ML initiatives 4. Strengthening Our Cybersecurity
were implemented to support asset performance optimisation, Cybersecurity readiness was reinforced through enhanced
production efficiency, reliability, and operational safety. monitoring and vulnerability management, supported
by joint simulation and crisis response exercises with
An integrated operational data foundation and visualisation the Medco Emergency & Crisis Management team,
platform was rolled out across multiple production assets to Indonesia’s National Cyber and Crypto Agency (BSSN),
enhance transparency and performance monitoring. Singapore’s Cybersecurity Agency (CSA), and critical
infrastructure partners.
In September 2025, the Company introduced mSeek, its AI
agent designed to improve access to Company information Security awareness was strengthened through quarterly
and accelerate knowledge retrieval, with the initial phase phishing simulations and continuous education initiatives,
focusing on HR-related topics. Complementing this initiative, while data governance practices were reinforced
the Company launched an HR Dashboard leveraging to improve data quality, access control, and consistency
advanced analytics and visualisation tools to integrate key across business units, supporting secure operations and
workforce metrics into a single platform, enabling timely reliable decision-making.
and evidence-based management decisions.
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2025 Management Business Company Corporate
70 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
People and
Organisation
Human Resources Highlights
Demography by Location 2021 2022 2023 2024 2025
Corporate 102 103 116 115 120
Oil & Gas 2,270 2,216 2,188 2,107 2,023
Power 783 807 901 1,013 1,037
Other Business 2,234 1,257 1,636 2,766 2,830
Total Domestic 5,389 4,383 4,841 6,001 6,010
Oman 183 189 195 206 215
Thailand 86 83 87 87 90
Singapore 16 17 19 18 17
Libya 7 7 7 3 3
Tanzania 3 3 3 3 3
Malaysia 5 2 – – –
Total International 300 301 311 317 328
5,689 4,684 5,152 6,318 6,338
2021 2022 2023 2024 2025
Demography
by Gender Proportion
No. of
Proportion
No. of
Proportion
No. of
Proportion
No. of
Proportion
No. of
Employees Employees Employees Employees Employees
Male 89% 5,035 86% 4,035 87% 4,484 89% 5,643 89% 5,641
Female 11% 654 14% 649 13% 668 10% 675 11% 697
100% 5,689 100% 4,684 100% 5,152 100% 6,318 100% 6,338
2021 2022 2023 2024 2025
Demography
by Age Groups (years old) Proportion
No. of
Proportion
No. of
Proportion
No. of
Proportion
No. of
Proportion
No. of
Employees Employees Employees Employees Employees
> 50 14% 801 15% 708 15% 779 14% 940 15% 959
> 40 – 50 34% 1,905 39% 1,824 40% 2,057 38% 2,440 38% 2,422
> 30 – 40 35% 1,994 35% 1,614 32% 1,647 30% 1,915 29% 1,844
> 19 – 30 17% 989 12% 538 13% 669 16% 1,023 18% 1,113
100% 5,689 100% 4,684 100% 5,152 100% 6,318 100% 6,338
2021 2022 2023 2024 2025
Demography
by Education Level Proportion
No. of
Proportion
No. of
Proportion
No. of
Proportion
No. of
Proportion
No. of
Employees Employees Employees Employees Employees
Bachelor’s Degree & Above 44% 2,532 54% 2,505 50% 2,569 41% 2,642 46% 2,934
Diploma 10% 541 12% 557 12% 602 9% 586 10% 648
High School & Non-Degree 46% 2,616 35% 1,622 38% 1,981 48% 3,090 43% 2,756
100% 5,689 100% 4,684 100% 5,152 100% 6,318 100% 6,338
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 71
2021 2022 2023 2024 2025
Years of Service
No. of No. of No. of No. of No. of
Proportion Proportion Proportion Proportion Proportion
Employees Employees Employees Employees Employees
0 – 10 63% 3,612 58% 2,729 60% 3,104 65% 4,142 60% 3,780
> 10 – 20 31% 1,762 36% 1,680 34% 1,724 27% 1,742 33% 2,066
> 20 – 30 5% 268 6% 257 6% 291 6% 396 7% 465
> 30 1% 47 0.4% 18 0.6% 33 0.6% 38 0.4% 27
100% 5,689 100% 4,684 100% 5,152 100% 6,318 100% 6,338
Training 2021 2022 2023 2024 2025
Total Training Course 659 1,131 1,058 1,085 1,013
Total Man-Course 5,826 8,226 9,380 8,210 6,132
Total training hours 60,302 78,841 77,900 136,380 124,709
Training Investment (US$) 1,963,099 3,782,500 3,976,000 3,882,000 3,470,219
Female in
2021 2022 2023 2024 2025
Managerial Positions
Total Managers* 235 311 322 340 347
Total Female Managers** 40 62 63 71 73
% Women in leadership roles 17% 20% 20% 21% 21%
*Assumptions: Total population of Male & Female at Level Managers and above. Scope: Corporate Office, E&P Domestic
**Assumptions: Female population at Level Managers and above. Scope: Corporate Office, E&P Domestic
Karim Small Fields, Oman
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2025 Management Business Company Corporate 72 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Financial Highlights Description 2021 2022 2023 2024 2025 Income Statement (US$ Million) Sales and other operating revenues 1,252.1 2,312.2 2,249.3 2,399.2 2,395.0 Gross profit 550.6 1,246.1 1,033.7 933.5 936.1 Selling, general, and administrative expenses (161.4) (219.9) (241.4) (216.9) (227.6) Operating profit 389.2 1,026.2 792.3 716.6 708.5 Other operating income (expense)-net (119.9) 19.9 (64.4) (45.5) (304.5) Profit (loss) before income tax expense from continuing operations 269.4 1,046.1 727.9 671.1 404.0 Income Tax Expense (222.8) (508.0) (339.7) (289.3) (290.6) Profit (loss) for the year attributable to owners of the parent 47.0 530.9 330.7 367.4 100.9 Profit (loss) for the year attributable to non-controlling interest 15.6 20.5 15.1 12.8 12.6 Total profit (loss) for the year 62.6 551.4 345.8 380.2 113.5 EBITDA 667.3 1,593.5 1,255.2 1,271.8 1,264.0 Total comprehensive income (loss) attributable to owners of the parent 69.4 541.3 330.4 358.4 114.3 Total comprehensive income (loss) attributable to non-controlling interest 15.4 47.3 16.5 9.4 6.9 Total comprehensive income (loss) for the year 84.8 588.5 346.8 367.8 121.1 Profit (loss) attributable to the equity holders of the parent company 47.0 530.9 330.7 367.4 100.9 Earnings Per Share 0.00250 0.02123 0.01321 0.01466 0.00408 Balance Sheet (US$ Million) Cash and cash equivalents 481.0 600.0 353.9 637.0 569.1 Restricted Cash 451.9 137.2 70.8 60.4 59.8 Current Assets 1,701.6 1,751.4 1,546.6 1,817.0 1,630.3 Investment in shares 1,075.4 1,410.9 1,653.0 1,819.8 1,866.2 Total Assets 5,683.9 6,931.9 7,468.3 7,926.9 8,362.7 Current Liabilities 1,006.2 1,379.3 1,422.1 1,505.4 1,386.7 Non-current Liabilities 3,448.4 3,805.1 4,018.7 4,070.5 4,615.8 Total Liabilities 4,454.5 5,184.4 5,440.7 5,575.9 6,002.6 Total Equity attributable to the equity holders of the parent Company 1,072.7 1,557.3 1,828.5 2,118.7 2,153.4 Financial Ratios Return on Assets (%) 1% 8% 4% 5% 1% Return on Equity (%) 4% 34% 18% 17% 5% Net Profit (loss) margin (%) 4% 23% 15% 16% 5% Current Ratio 1.69 1.27 1.09 1.21 1.18 Current Liabilities to total assets ratio 0.18 0.20 0.19 0.19 0.17 Long-term Liabilities to Total Assets Ratio 0.61 0.55 0.54 0.51 0.55 Total liabilities to Equity Ratio 3.62 2.97 2.68 2.37 2.54 Debt to Equity Ratio 2.43 1.80 1.63 1.40 1.54 Net Debt to Equity Ratio 1.67 1.38 1.42 1.11 1.28
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 73
Operational
Highlights
Description 2021 2022 2023 2024 2025
Reserves¹
Proved Oil Reserves-1P (mmboe) 89.2 92.2 119.3 79.5 82.5
Proved Gas Reserves-1P (bcf) 1,000.8 1,396.5 1,409.1 1,472.7 1,644
Total Proved Reserves-1P (mmboe) 278.3 352.6 380.7 353.7 385.7
Proved and Probable Oil Reserves-2P (mmboe) 147.6 145.7 184.2 117.4 123.5
Proved and Probable Gas Reserves-2P (bcf) 1,279.5 1,803.7 1,914.2 2,017.8 2,387.5
Total Proved and Probable-2P (mmboe) 389.2 481.3 538.8 493.4 563.8
Contingent Resources (mmboe) 995.7 1,040.3 1,041.0 895.9 1,153.9
Lifting & sales²
Oil (mbopd)³ 26.4 25.3 23.2 31.7 34.8
Gas (bbtud) 299.8 667.1 659.2 561.9 578.8
Oil & Gas Production (mboepd)³ 86.9 155.2 152.1 143.0 147.1
Service Contract in Oman (mbopd) 7.2 7.4 7.6 8.9 9.0
Average Oil Price (US$/bbl) 68.0 96.2 77.9 78.0 66.6
Average Gas Price (US$ per mmbtu) 6.5 8.2 7.0 7.0 6.8
Power
Generated Power Sales (GWh) 2,718 3,993 4,155 4,108 4,371
Copper & Gold Mining
Copper Production (Mlbs) 233.7 463.9 312.0 394.9 208.9
Gold Production (koz) 156.4 730.7 463.5 802.7 102.8
Average realised copper price (US$ per lbs) 4.2 3.6 3.8 4.2 5.1
Average realised gold price (US$ per oz) 1,799 1,737 1,948 2,397 4,204
Copper Cathode Production (kt) – – – – 79.8
Refined Gold Production (koz) – – – – 124.7
Average realised Copper Cathode price (US$ per tonnes) – – – – 10,609
Average realised Refined Gold price (US$ per oz) – – – – 3,974
1 The Company’s participating interest in reserves including Government share.
2 The Company’s participating interest in oil lifted and gas sold including Government share.
3 Excluding Oman service contract.
Block A, Aceh
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2025 Management Business Company Corporate
74 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Sustainability
School Renovation Programme of TK Palmatak, Riau Islands
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 75
76 Sustainability Policy
77 Climate Action
77 Developing Workforce
Capabilities
78 Sustainability Highlights
79 Community Development
Highlights
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2025 Management Business Company Corporate
76 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Sustainability
This chapter provides an overview of MedcoEnergi’s Sustainability Corruption, Human Rights, Public Policy, Socio-economic
Policy, initiatives and achievements in 2025. Comprehensive Compliance, Supply Chain Management, and Enterprise Risk
insights into our sustainability and ESG performance and progress Management, enabling ethical and responsible business practices
on climate actions, Key Performance Indicators (KPIs) and goals across our operations. The Sustainability Policy is accessible at
are accessible in the MedcoEnergi Sustainability Report 2025 at www.medcoenergi.com. This Policy is managed at the highest level
www.medcoenergi.com. of organisation through the Sustainability and Risk Management
Committee (SRMC). Further details on the SRMC and members’
In line with increased stakeholder demands and complexity of our roles and responsibilities can be found on page 103.
operations, we restructured our sustainability approach in 2017
and refined it through materiality assessments in 2018 and 2022. Recognising the rapid evolution of sustainability expectations and
The 2018 assessment enabled us to establish our Sustainability regulations, MedcoEnergi structured its approach by establishing
Policy, set priorities grounded in contextual realities and maintain our first sustainability roadmap for 2018-2022 following the
robust sustainability strategies that are being cascaded into KPIs 2018 materiality assessment and the second for 2023-2027
and targets. By end of 2025, we achieved 97% of our Tier-1 following the 2022 double materiality assessment. These roadmaps
Sustainability KPIs and Targets and 92% of our Tier-2, as set out are supported by governance structures, policies, procedures,
in our 2023-2027 Sustainability Roadmap. and by building organisational capabilities to drive implementation.
Sustainability Policy The sustainability landscape continued to shift in 2025, shaped
by more volatile energy systems driven by dynamic geopolitical
MedcoEnergi’s Sustainability Policy is built on three core pillars: and macroeconomic conditions and the rapid growth of Artificial
Leadership of and by Our Employees, Environmental and Social Intelligence and data centres. Energy policies increasingly prioritised
Development, and Local Community Empowerment. These pillars affordability and security, even as climate impacts intensified and
reflect our corporate values and good corporate governance pushed for greater resilience and stricter standards. These dynamics
principles. They guide how we operate our business with integrity created both challenges and opportunities for energy companies.¹
and transparency to safeguard our social licence to operate. In this environment, we remain focused on operational excellence
to create value by embedding climate actions and delivering
As the foundation that interconnects and strengthens all pillars,
sustained growth.
our governance framework encompasses Anti-Bribery &
Three Pillars of Sustainability and its Foundation
Leadership of and Environmental and Local Community
by Our Employees Social Development Empowerment
Diversity Emissions Direct & Indirect
Economic Benefits
Employment Environmental Compliance
Partnerships
Personal Accountability Occupational Health & Safety
Alignment with UN Sustainable
Local Communities (Stakeholder Development Goals (SDGs)
Engagement Plan & Operational
Grievance Mechanism)
Security Practices alignment to
United Nations Guiding Principles
(UNGP) for Business and Human
Rights and the Voluntary Principles
on Security and Human Rights
Governance
Anti-Bribery & Corruption (ABC) Socio-economic Compliance Supply Chain Management
Human Rights Public Policy Enterprise Risk Management
1 McKinsey & S&P Global 2025 Sustainability Challenges & Opportunities
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 77
Women@Work Programme, Jakarta
Climate Action respectful workplace practices to support long‑term performance. Our
We continue to advance initiatives that drive our KPIs and net zero talent strategy centres on building a sustainable leadership pipeline
emissions targets by strengthening our Greenhouse Gas (GHG) through Talent Mapping and Succession Planning, enabling us to
emissions reductions efforts. In the Oil & Gas sector, we achieved identify high‑potential employees and develop them in line with
our 2025 targets for Scope 1 and Scope 2 GHG emissions and for Medco Leadership Behaviours to ensure continuity in critical roles.
methane emission reductions, including the target for renewable
The Medco Senior Leadership Development Programme (MSLDP)
energy mix installed capacity in the Power sector. We achieved our
and the MedcoEnergi Business Apprentice Programme (MBAP)
2025 climate interim targets and are on track to meet our 2030 targets.
advance strategic leadership capabilities and accelerate early‑career
This performance was supported by a robust gas-weighted talent development. To attract, retain, and motivate high‑performing
portfolio, which reflects the role of natural gas as a key transition employees, we apply a Total Rewards strategy offering competitive,
energy source. Key portfolio actions included acquiring Repsol’s performance‑based incentives aligned with business priorities.
24% interest in the Corridor PSC and a 45% operating interest
In 2025, we strengthened technical and professional competencies
in the Sakakemang PSC. These actions were complemented by
through our Technical Academies across subsurface, surface
the progress on the Suban facilities upgrade programme and the
engineering, wells, operations, and data science disciplines.
increase of Transgasindo pipeline effective ownership to 40%.
Employee experience and engagement were enhanced through
We were also recognised internationally and nationally through digital HR tools, the Respectful Workplace Policy, Women@Work
CDP2 Climate Change score of B, and inclusion in the IDX LQ45 initiatives, the Pulse Survey, and human rights awareness programmes,
Low Carbon Leaders3, IDX KEHATI ESG Sector Leaders4, and fostering an inclusive and high‑performing workforce.
IDX KEHATI ESG Quality 455 indices. Under MSCI6‘s updated
Addressing climate change risks and opportunities remain a key priority
methodology, MedcoEnergi’s rating has improved to AAA in
for MedcoEnergi, with employee capability essential to advancing
March 2026, placing the Company among the top 11% of the
our climate strategy across the organisation. In 2025, we continued the
MSCI Oil & Gas Exploration & Production universe.
Green Ambassadors for Inclusive Climate Action (GAIA) Champions
initiative and the Sustainability & Climate Change e‑learning Programmes
Developing Workforce Capabilities as core platforms to strengthen sustainability and climate‑related
People are the foundation of MedcoEnergi’s sustainable growth. knowledge and drive operational‑level action, aligned with our
We continue to strengthen workforce capabilities and uphold fair, Sustainability Policy pillar of Leadership of and by Our Employees.
2 CDP (formerly the Carbon Disclosure Project) rates companies’ environmental transparency and performance, ranging from A/A- (Leadership) to F (Insufficient information). Evaluated
annually across climate change, water security, and forests, scores assess Disclosure, Awareness, Management, and Leadership. A higher score indicates better environmental
management and action.
3 IDX LQ45 Low Carbon Leaders is an index that aims to reduce the portfolio-weighted average carbon intensity by 50% compared to the LQ45 (parent index) and exclude coal
production companies while maintaining LQ45 index sectoral availability.
4 IDX KEHATI ESG Sector Leaders is an index containing stocks with an ESG performance assessment above their industrial average value.
5 IDX KEHATI ESG Quality 45 is an index that measures the stock price performance of 45 listed companies, selected by the KEHATI Foundation, that have good Environmental, Social,
and Good Corporate Governance (ESG) performance, as well as a high liquidity and good financial performance.
6 MSCI ESG Ratings measure a company’s management of long-term, financially relevant ESG risks and opportunities. Companies are rated on a scale of AAA (leader) to CCC (laggard).
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2025 Management Business Company Corporate
78 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Sustainability
Liveable House Renovation Programme, East Java
Sustainability Highlights • In collaboration with the Medco Foundation, livable housing initiatives
were delivered to support community development. In 2025, we
Climate Change & Energy Transition successfully built 47 decent houses in Tangerang, and near three of
• We achieved our 2025 key interim targets to ensure our alignment
our assets: Corridor, Lematang (South Sumatra) and Medco Cahaya
in achieving our Climate Change aspirations. Geothermal Ijen (East Java).
• MedcoEnergi achieved 30% reduction in E&P Scope 1 & 2 GHG
emissions from 2019 base year versus a target of 20%, and 40% Health, Safety and Environment
reduction in E&P Methane emissions against target of 25%. In • Oil & Gas safety performance was sustained, with Total Recordable
Power, we achieved our interim target of increasing our renewable Incident Rate (TRIR) of 0.15 demonstrating a better performance than the
mix installed capacity to 26%. average International Association of Oil & Gas Producers (IOGP) TRIR.
• MedcoEnergi’s MSCI ESG rating improved to AAA in March 2026, • Process safety competency upskilling sessions were conducted in 22
placing the Company among the top 11% of the MSCI Oil & Gas batches, covering 557 employees across offshore, onshore and
Exploration & Production universe. Corridor assets.
• MedcoEnergi joined the Oil and Gas Methane Partnership • Mangrove planting activities were initiated in collaboration with Medco
(OGMP) 2.0, reinforcing our commitment to our Net-Zero Foundation, with planting of 4,000 mangrove trees in Karawang,
emissions aspiration. West Java, and 5,000 mangrove trees in Bekasi, West Java.
• Medco Power commenced operations of two renewable assets
– Ijen Geothermal and East Bali Solar PV – and expanded Batam Building Workforce Capability
operations through additional power generation capacity with • Sustainability and climate change e-learning programmes continued,
efficiency improvement through waste heat utilisation. building in-house sustainability and climate expertise of more than
• For the first time, asset-level Climate Change Risk Assessments 5,000 employees since their launch in 2023.
were conducted internally, demonstrating strengthened in-house • The Company also launched the Respectful Workplace Policy,
capability and independent evaluation. to ensure a safe working environment for employees.
• A Just Transition Plan was issued to support an inclusive shift • To strengthen human rights awareness and internal policy understanding,
towards cleaner energy while safeguarding affected stakeholders. Human Rights comic book and complementary e-learning modules
were introduced.
Social, Security and Community
• The Social Management System (SMS) and Medco Security Upholding Integrity
Management System (MSMS) were successfully implemented MedcoEnergi’s dedication to ethical conduct is demonstrated through:
across all operations. • The maintenance of eleven ISO 37001:2016 Anti-Bribery
• MedcoEnergi’s Oil & Gas Security Policy was updated to align Management System (ABMS) certifications.
with stakeholder expectations and ensure compliance with • Full implementation of ISO 37002:2021 Whistleblowing Management
government regulations. System, providing secure and transparent channels for reporting
misconduct across operations.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 79
Community Development Highlights and Corporate Governance Principles. We consider community
development to not be a cost, but a strategic investment that
At MedcoEnergi, we look beyond operational and financial supports long-term sustainability and strengthens our social
performance and integrate purpose into our business practices. licence to operate.
We are committed to creating sustainable value for communities
across our areas of operation through initiatives aligned with the MedcoEnergi’s social approach begins with structured strategic
UN Sustainable Development Goals. planning, informed by comprehensive social risk and impact
assessment, and systematic stakeholder mapping. This process
Community empowerment is a long-standing commitment and a enables us to identify priorities, manage social risks, and allocate
core Sustainability Pillar, embedded within our Corporate Values resources effectively to deliver sustainable and shared value.
Health
Strengthening Community
Healthcare Services
In 2025, MedcoEnergi strengthened community
healthcare services across several regions by providing
targeted support for integrated health posts (Posyandu)
as well as conducting nutrition programmes.
In Riau province, we provided essential healthcare
equipment to four Posyandu serving four villages
to improve the early detection of malnutrition,
prevent stunting and non-communicable diseases,
and strengthen healthcare infrastructure. Our Medco
Ratch Power Riau (MRPR) asset provided equipment Healthcare Equipment Programme, Riau
including baby and adult scales, thermometers,
measuring tapes, and blood glucose monitors.
In Musi Banyuasin and Banyuasin, our Corridor asset
developed seven Posyandu covering 14 villages to
support stunting cases, and help curb the spread of “Capacity-building training for Posyandu staff
AIDS, tuberculosis and malaria. This programme has been highly beneficial. It has significantly
provides training to Posyandu and nutrition post staff, expanded our knowledge and insights,
supplies medical equipment, nutritious food for thereby enabling us to be more
pregnant women and stunted children, and conducts useful to the community.”
health campaigns and education sessions at schools.
Milk packages were provided to 350 pregnant women — Sinta, a 19-year-old youth from
and 350 children. Sumpal Hamlet, Tampang Baru Village,
Musi Banyuasin, South Sumatra.
Infrastructure
Supporting Energy Access
for Underserved Communities
In West Java province, a Medco Power subsidiary joined
PLN’s free electricity installation programme for underprivileged
households in Cianjur. Through the 9 MW PLTM Mini Hydro
Power Plant, PT Pembangkitan Pusaka Parahiangan contributed
to expanding electricity access to communities lacking reliable
power, supporting education, health, economic opportunities,
and improving overall quality of life.
Free Electricity Installation Programme, West Java
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2025 Management Business Company Corporate
80 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Sustainability
Environment
Fostering Coastal
Conservation Awareness
Among Youth
In Thailand, MedcoEnergi
supported the Save Pak Nam
Chumphon Group in raising
awareness among students about
the importance of coastal resources.
In September, 55 secondary school
students learned about mangrove
conservation, eco-friendly products,
and the Blue Crab Bank through
hands-on sessions led by lecturers
from the Prince of Songkla University.
The programme marked the first
such activity in the community,
with our Bualuang asset contributing
about US$2,000.
Mangrove Tree Planting Programme, Thailand
Education
Malay Arts & Culture Preservation Programme, Riau Islands
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 81
Economy
Promoting Economic
Independence via
Sustainable Cricket Farming
In Pekanbaru, MedcoEnergi’s Medco
Ratch Power Riau (MRPR) supported
eco-friendly cricket farming with Joint
Business Group “Temu Kasih” to
promote economic independence and
sustainable practices. Crickets – used
as high-protein feed for songbirds,
ornamental fish, and reptiles – were
cultivated using infrastructure, farming
media, and seed support provided in late
2024. Within eight months, production
grew from 30 sacks per month to over
1,600 sacks, generating Rp28 million in
revenue, nearly ten times higher than the
initial monthly earnings, and established a
stable marketing network.
Cricket Farming, Riau
Preserving Malay Heritage
Through Cultural Partnership
In Anambas Islands Regency, MedcoEnergi partnered Raja Bayu Febri Gunadian,
with the Heritage Association Madah Bertuah Siantan Deputy Regent of
(Perkumpulan Pusaka Madah Bertuah Siantan) to implement
Anambas, expressed
a Malay Arts and Culture Preservation Programme to address
hope that the programme
concerns about declining engagement of younger generations
with Malay traditions. The programme was launched by will enhance learning,
Medco E&P Natuna Ltd. in September 2025 through a Folktale particularly related to Anambas
Seminar and Book Review at Siantan Nur Tarempa. It included culture, and appreciated efforts by
supporting two art studios across Kute Siantan and Palmatak Medco and the Pusaka Madah Bertuah
subdistricts, providing basic training in nine core Malay dances, Siantan Association in initiating it.
documenting folktales for publication, and supplying art
equipment to support ongoing cultural activities in the region.
Reci Kardiman,
Chairperson of the
Pusaka Madah Bertuah
Siantan Association,
noted that the programme
fully supported by Medco
E&P and aligned with the
Regional Government’s vision for cultural
preservation and literacy, is part of a
broader collaborative cultural programme
Heritage Association Madah Bertuah Siantan, Riau Islands
in the Anambas Islands Regency.
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Sustainability
Sumatra Disaster Relief Programme, Aceh
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 83
Disaster Relief and
Community Recovery Support
In 2025, MedcoEnergi, primarily through the Medco Foundation
and with employee support, delivered disaster relief across Aceh,
North Sumatra, and West Sumatra. All activities were coordinated
with local authorities to help restore essential services and
address urgent community needs.
In Aceh, the Company supported flood affected communities by
installing a clean water facility capable of producing up to 25,000
liters per day, benefiting more than 3,000 residents. The facility
was accompanied by community training and is intended to be
sustainably operated by local stakeholders with government support.
Across Sumatra, MedcoEnergi delivered four clean water ultra-
filtration units, deployed heavy equipment for recovery efforts, and
distributed more than 50 tons of humanitarian aid. Medical teams
and Mobile Medical Services were also mobilised in East Aceh,
delivering 500 kg of medicines and serving over 1,700 patients.
Total assistance provided in 2025 exceeded US$500,000.
Clean water support, Aceh
Heavy equipment support, Aceh
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Corporate
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 85
86 Corporate Governance
at a Glance
87 Implementation of Good
Corporate Governance
88 General Meeting of Shareholders
92 Board of Commissioners (BOC)
94 Board of Directors (BOD)
98 Nomination and Remuneration
Procedures for the BOC & BOD
99 Committees Reporting to the BOC
105 Committees Reporting to the BOD
106 Corporate Secretary
107 Corporate Audit &
Integrity Compliance
108 Internal Control of
Risk and Compliance
109 Corporate Sustainability
and Risk Management
112 Material Legal Cases
112 MedcoEnergi Code of Conduct
113 Employees and Management
Shares Ownership Programme
115 Anti-Corruption
116 Whistleblowing Systems
117 BOC & BOD Statement
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86 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate Governance
at a Glance
Reporting Against the Good Corporate Governance (GCG) principles
This report is prepared in strict accordance with relevant regulations and circulars issued by the Indonesian
Financial Services Authority (OJK) on the implementation of GCG guidelines and preparation of Annual Reports
of public companies. It is also aligned with the 2021 Indonesian General Guidelines for Corporate Governance
(PUGKI) issued by the National Committee on Governance Policy (KNKG), which were developed with reference
to global corporate governance principles.
MedcoEnergi reaffirms its commitment to upholding the five GCG pillars of Transparency, Accountability,
Responsibility, Independence, and Fairness.
Please visit pages 87-116 for more information.
Key Highlights
16
Total meetings held across
98.6%
Average meeting
33%
Independent
all committees during the year attendance rate Commissioner ratio
Committees Reporting to the Board of Commissioners
• Audit Committee: Oversees the integrity of financial reporting, internal controls, risk management and
audit processes
• Nomination & Remuneration Committee: Provides guidance on Board composition, succession planning,
performance evaluation and remuneration
• Sustainability & Risk Management Committee: Oversees sustainability strategy, climate and energy
transition priorities and enterprise risk management
• Good Corporate Governance Committee: Promotes and reviews application of corporate governance
principles and ethical standards across the Group
Committees and Functions Supporting the Board of Directors
• Corporate Ethics & Compliance Committee: Oversees ethics, compliance and the implementation of
anti-corruption and whistleblowing frameworks
• Corporate Secretary: Facilitates effective Board processes and ensures compliance with regulatory and
governance requirements
• Corporate Audit & Integrity Compliance: Provides independent assurance on governance, risk management,
internal controls and ethics compliance
• Corporate Sustainability & Risk Management: Supports the integration of sustainability and risk
considerations into business strategy and operations
• Other Units & Functions
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 87
Corporate
Governance
Implementation of Good Corporate Governance GCG Principles and Structure
MedcoEnergi is committed to implementing Good Corporate MedcoEnergi’s GCG practices are founded on five core principles:
Governance (GCG) as a cornerstone of its business practices. Transparency, Accountability, Responsibility, Independence,
The GCG principles provide a framework for enhancing and Fairness.
organisational performance, ensuring the delivery of sustainable
In accordance with the Law of the Republic of Indonesia No. 40
value to both shareholders and stakeholders, and maintaining
of 2007 on Limited Liability Companies (UUPT), the Company’s
long-term business resilience.
governance structure is administered by three bodies:
This commitment is integrated at every level of the organisation and
1. General Meeting of Shareholders (GMS), which holds the
is demonstrated through the consistent application of the Company’s
highest authority and authorities that are not delegated to
Code of Conduct and GCG Implementation Guidelines.
the Board of Commissioners or the Board of Directors.
Legal Basis of GCG Implementation 2. Board of Commissioners (BOC), which is responsible for
overseeing and advising the Board of Directors. The BOC
MedcoEnergi’s GCG principles are reviewed periodically and aligned is supported by the Audit Committee, the Nomination &
with the latest regulatory requirements, ensuring compliance with Remuneration Committee, the Sustainability & Risk
the following prevailing laws and regulations: Management Committee, and the GCG Committee.
1. Regulation of the Financial Services Authority (POJK) No. 21/POJK. 3. Board of Directors (BOD), which is responsible for leading
04/2015 dated November 16, 2015 regarding the Implementation and managing all business activities of the Company. The
of Corporate Governance Guidelines in Public Companies; BOD is supported by the Corporate Ethics and Compliance
2. Circular Letter of the Financial Services Authority (SEOJK) Committee, the Corporate Secretary, and the Corporate
No. 32/SEOJK.04/2015 dated November 17, 2015 regarding Audit & Integrity Compliance and Corporate Sustainability
Corporate Governance Guidelines of Public Companies; & Risk Management functions.
3. POJK No. 29/POJK.04/2016 dated July 29, 2016 regarding
Annual Reports of Issuers or Public Companies;
4. SEOJK No. 16/SEOJK.04/2021 concerning Format and Content
of Annual Reports of Issuers or Public Companies
General Meetings of Shareholders
Board of Board of
Commissioners Directors
Audit Corporate Audit
Committee MedcoEnergi’s & Integrity
Good Corporate Governance Compliance
Nomination & Principles
Remuneration Corporate
Committee 01 02 Sustainability
Transparency Accountability & Risk
Sustainability & Management
The Company must The Company must
Risk Management
provide material and be managed in accordance
Committee Corporate
relevant information by with the interests of the
Secretary
ways that are easy for company, shareholders,
Good Corporate stakeholders to access and stakeholders.
Governance and to understand. Corporate Ethics
Committee & Compliance
Committee
05 04 03
Fairness Independence Responsibility Other Units
The Company The company must be The Company must & Functions
must be managed in managed independently; comply with all relevant
accordance with the it must avoid domination laws and regulations, and
principles of fairness by any one function over perform responsibly with
and equality. any of the others or regards to community
interventions from and environment.
other parties.
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Corporate
Governance
General Meeting of Shareholders Vote Counting Mechanism
The highest authority in the Company lies with the shareholders, At the 2025 AGMS, the Company appointed Mrs. Leolin Jayayanti,
exercised through the General Meeting of Shareholders (GMS) in S.H., M.Kn. as a public notary to assist in the vote counting and
accordance with prevailing laws and the Company’s Articles of prepare the minutes. Voting was conducted through both physical
Association. The Company holds an Annual GMS (AGMS), and, and electronic mechanisms.
when necessary, an Extraordinary GMS (EGMS) is also convened for
In accordance with Article 47 of POJK 15, shareholders with voting
approving specific agenda. The AGMS serves as the primary forum
rights who attended the Meeting but abstained were deemed to
for shareholders to direct the Company’s course, while an EGMS
have cast the same vote as the majority of shareholders who cast
is called when shareholders or management deem it necessary.
valid votes.
Equitable Treatment and Protection of Shareholders
MedcoEnergi upholds the principle of fair and equal treatment of
all shareholders, including minority and independent shareholders.
Each share carries one vote at the GMS, and all shareholders are
entitled to the same rights and protections, including, among others:
• Voting on GMS resolutions at the GMS, including amendments
to the Articles of Association of the Company, issuance of new
shares, appointment of the BOC and members of the BOD,
as well as mergers, divestments, and material acquisitions as
required under POJK 17/POJK.04/2020 (POJK 17/2020) on
Material Transaction and Changes in Business Activities.
• Access to regular and timely information on performance,
corporate actions, GMS minutes, and other relevant disclosures
through the Company’s website, Corporate Secretary, and/or
Investor Relations.
• Pre-emptive rights in share issuance.
• Approval through the GMS of material conflict-of-interest
transactions, as required under POJK 17/2020 and POJK
42/POJK. 04/2020, on Affiliated Transactions and Conflict of
Interest Transactions.
• Voting by custodians on behalf of shareholders at the GMS,
with sufficient time provided for consultation prior to exercising
voting rights.
• Assurance of adequate information on specific corporate actions
such as share issuances, share buyback programmes, conflict-of-
interest transactions, and other significant transactions.
The 2025 AGMS
Date & Time Tuesday, June 3, 2025, 2.30 – 4.12 p.m. Western Indonesian Time
Notifications To comply with Articles 13, 14, and 17 of POJK 15, and Articles 19 paragraphs 2, 3, and 18 of
the Company’s Articles of Association, the Board of Directors carried out the following:
• Notification of the AGMS plan and agenda to OJK through a letter dated April 11, 2025.
• Announcement of the AGMS to shareholders via the Indonesia Stock Exchange (IDX) website,
the Company’s website, and the eASY.KSEI platform on April 22, 2025.
Invitation to the AGMS published via the IDX Website, the Company’s Website, and the eASY.
KSEI platform on May 8, 2025.
Venue Soehanna Hall, The Energy Building, SCBD Lot. 11A, Jl. Jend. Sudirman Kav.52-53,
Jakarta 12190
Attendance of shareholders 20,490,178,480 shares, or representing 82.99% of 25,136,231,252 shares, forming all issued
and/or their proxies or paid up shares of the Company, prior to the deduction of 446,630,288 treasury shares
Attendance quorum In accordance with Article 86 paragraph (1) and Article 88 paragraph (1) of Law No. 40 of 2007
on Limited Liability Companies (as amended from time to time), Article 41 of Financial Services
Authority (OJK) Regulation No. 15/POJK.04/2020 on Planning and Implementation of the
General Meeting Shareholders of Public Company (POJK 15), and Article 22 paragraph (1) and
Article 25 paragraph (1) of the Company’s Articles of Association, the quorum requirements
were fulfilled, therefore, the Meeting could proceed and adopt valid decisions.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 89
AGMS Resolutions and Actions
Details of the AGMS resolutions and the actions taken in response are as follows:
Voting Results AGMS Resolution Action Taken
1st Agenda Agree Receive and approve the Report of the BOD and the Report Approved and ratified at the
Approval on the Report of 20,490,173,480 of the BOC of the Company regarding the activities carried AGMS, granting release and
the BOD and the BOC of shares out by the Company for the financial year ended December discharge (acquit et de charge)
the Company regarding the 31, 2024, as well as the ratification of the balance sheet and to the members of the Board
activities conducted by the Abstain profit and loss statement (“Financial Statements”) for the of Directors and Board of
Company for the financial 237,493,819 financial year ended December 31, 2024, which have been Commissioners of the
year ended December 31, shares audited by the Public Accounting Firm Purwantono, Sungkoro Company from responsibility
2024 (“Annual Report”) & Surja, as evidenced by its letter No. 00493/2.1032/ for the management and
and the ratification on the Disagree AU.1/02/0696-5/1/III/2025 dated March 28, 2025, with the supervision of the Company
balance sheet and income 5,000 opinion “FAIR WITHOUT EXCEPTIONS”, and subsequently carried out during the relevant
statement (“Financial shares grant full release and discharge (acquit et de charge) to the financial year.
Statements”) for the members of the BOD and BOC of the Company from their
financial year ended responsibilities for the management and supervision of the
December 31, 2024 and Company during the relevant financial year.
to give full release and
discharge (acquit et de
charge) to the BOD and
BOC of the Company
from their responsibilities
with respect to the
management and
supervision performed
in the preceding year.
2nd Agenda Agree 1. Approved the utilisation of the Net Profit Attributable to • On June 4, 2025, the
Determination of 20,487,816,567 the Shareholders of the Company for the financial year Company announced the
utilisation of Net Income shares ended December 31, 2024, amounting to Schedule and Procedures for
for financial year ended US$367,358,268 with the following details: the Distribution of Cash
December 31, 2024 Abstain • Distributed 17.23% of the net profit attributable to the Dividends on the IDX and
233,017,333 owners of the Company’s parent entity for 2024, OJK websites, as well as on
shares amounting to US$63,294,037, as cash dividends to all the Company’s official
shareholders of the Company. The cash dividend website.
Disagree distribution shall take into account the interim dividend • On June 18, 2025, the
2,361,913 that had been distributed by the Company to its Company announced the
shares shareholders on November 1, 2024. Accordingly, middle exchange rate
following the distribution of the interim dividend to the determined by Bank
Company’s shareholders in the amount of Indonesia on the recording
US$25,338,499, equivalent to Rp15.75 per share, the date, which was June 17,
final cash dividend to be distributed upon approval of 2025. For shareholders
this AGMS amounts to US$37,955,538, which without physical share
represents the difference between the total net profit certificates who are either
for the 2024 financial year allocated as dividends and Indonesian nationals or
the interim dividend previously distributed. This final foreign nationals domiciled
cash dividend is equivalent to Rp25 per share, based in Indonesia, dividend
on the Company’s issued and paid-up capital (excluding payments were made in
treasury shares) of 24,678,690,964 shares, with the Indonesian Rupiah,
Rupiah equivalent calculated using the Bank Indonesia equivalent to the amount of
middle exchange rate on the last date of share dividends paid in United
ownership entitled to receive the cash dividend. States Dollars, based on the
• Recorded the remaining net profit for the 2024 financial middle exchange rate set by
year, amounting to US$304,064,231, as Retained Bank Indonesia on the
Earnings. recording date.
• On July 4, 2025, the
2. Authorised the BOD of the Company to take all necessary Company distributed the
actions in connection with the distribution of the cash 2024 Cash Dividend in the
dividend to each shareholder, including announcing the amount of Rp
procedures and payment schedule for the cash dividend 617,905,125,100.
in daily newspapers, as described above.
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Corporate
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AGMS Resolutions and Actions (continued)
Voting Results AGMS Resolution Action Taken
3rd Agenda Agree 1. Approved the appointment of the Public Accounting On July 24, 2025, the Company
Approval on the 21,131,152,579 Firm Purwantono, Sungkoro & Surja, registered with received a letter regarding the
appointment of an shares the OJK to audit the Balance Sheet, Profit and Loss name change of the Public
Independent Public Statement, and other components of the Consolidated Accounting Firm (“KAP”) from
Accountant who will Abstain Financial Statements of the Company and its Purwantono, Sungkoro & Surja
audit the Company’s 259,266,901 Subsidiaries for the year ending December 31, 2025. to Purwantono, Susanti & Surja.
Financial Statement shares 2. Delegated authority to the BOC of the Company to: The appointment of KAP
for the year ending a. Determine the audit fee of the Public Accountant; Purwantono, Susanti & Surja
December 31, 2025 Disagree and was made through a letter of
and to determine the 271,375,017 b. Appoint a substitute Public Accounting Firm and agreement No. 0300/PSS/09/2025
honorarium of such shares determine reasonable terms and conditions for dated September 23, 2025.
Public Accountant. such appointment, if the Public Accounting Firm The total fee for the audit of the
appointed by this AGMS is unable to carry out or Consolidated Financial Statements
continue its duties for any reason, including legal of 2025 was Rp49.6 billion.
reasons, capital market laws and regulations,
or if no agreement is reached on the audit fee.
4th Agenda Agree 1. Approved the dismissal and reappointment of all On June 10, 2025, Notary Leolin
Approval of the dismissal 20,217,317,630 members of the BOC and BOD of the Company for a Jayayanti, Bachelor of Law,
and reappointment of all shares term of five (5) years, starting from the closing of this Master of Notarial Law, prepared
members of the Board AGMS until the closing of the AGMS in 2030, without and signed the Deed of Statement
of Commissioners and Abstain prejudice to the rights of the General Meeting of of Meeting Resolutions (“PKR”)
Board of Directors of the 233,932,333 Shareholders to dismiss any member of the Board of No. 14, confirming the dismissal
Company for a term of shares Directors or Board of Commissioners at any time. and reappointment of all members
five (5) years, starting Thus, the composition of the Company’s Board of of the Company’s BOC and BOD
from the closing of this Disagree Commissioners and Board of Directors are as follows: for a term of five (5) years,
Meeting until the closing 272,860,850 effective from the closing of this
of the Annual General shares Board of Commissioners Meeting until the closing of the
Meeting of Shareholders Mrs. Yani Y. Panigoro – President Commissioner AGMS in 2030, without prejudice
in 2030, without prejudice Mr. Marsillam Simandjuntak – Independent to the GMS’s right to dismiss
to the rights of the Commissioner members at any time.
General Meeting of Mr. Yaser Raimi Panigoro – Commissioner
Shareholders to dismiss Board of Directors On the same date, the Company
any member of the Mr. Hilmi Panigoro – President Director received the Acknowledgment
Board of Directors or Mr. Roberto Lorato – Director of Notification of Company Data
Board of Commissioners Mr. Anthony Robert Mathias – Director Changes from the Ministry of
at any time. Mr. Amri Siahaan – Director Law of the Republic of Indonesia,
Mr. Ronald Gunawan – Director Directorate General of Legal
Administration, Number
2. Granted authority to the BOD to state the resolution AHU-AH.01.09-0295750,
in a separate notarial deed, notify and/or register following the submission of
it with the relevant government authorities, and the amended Company data to
undertake any other necessary actions in connection the Legal Entity Administration
with the reappointment of the members of the System, based on Notarial Deed
BOD and the BOC of the Company. No. 14 dated 10 June 2025.
5th Agenda Agree 1. Approved the determination of salaries and benefits Salary and allowance payments
Approval on the 20,358,978,703 for the BOC and the BOD of the Company for the year to the Company’s BOC and BOD
determination of the shares 2025 (including tax), effective from January 1, 2025 for the period January 2025 to
remuneration of the until December 31, 2025, with a maximum amount of May 2025 have been realised.
Board of Directors and the Abstain US$33.03 million, including share-based payments of Furthermore, payments for the
Board of Commissioners 238,592,133 up to 49,563,350 shares of the Company, and ratified period June to December 2025
for the period of January shares the payment of salaries and benefits that have been have also been completed.
– December 2025. paid to the BOC and BOD of the Company for the
Disagree period January 2025 to May 2025.
131,199,777 2. Delegated the authority to the Board of Commissioners
shares to determine the policy to distribute bonuses, salary
and benefit to each member of the BOC and the BOD,
including other forms of benefits for the BOD.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 91
Voting Results AGMS Resolution Action Taken
6th Agenda Agree 1. Approved the buyback of the Company’s shares Based on the revision Disclosure
To approve the Company’s 19,545,682,669 that have been issued and listed on the IDX, up to of Information issued on
plan to conduct shares shares a maximum of 240,000,000 shares or 0.95% of the September 29, 2025, the
buyback in accordance Company’s issued and paid-up capital, to be carried Company announced to its
with OJK Regulation Abstain out in accordance with OJK Regulation No. 29/2023 shareholders that the Company
No. 29/2023 on Share 237,688,233 on Share Buybacks by Public Companies. has decided to cancel the share
Buyback Issued by shares 2. Approved and granted authority, with substitution buyback programme which had
Public Companies (“OJK rights, either in part or in whole, to the BOD of the previously been approved by
Regulation No. 29/2023“). Disagree Company to undertake all necessary actions in the shareholders at the AGMS
944,495,811 connection with the Company’s share buyback. on June 3, 2025, with the share
shares buyback plan for a period of
12 months from the date of the
AGMS approval. The Company
intends to proceed with Share
Buyback Phase II as was
announced on September 4,
2025. The Company reiterates
that it has always complied with
the provisions of Article 15
of POJK 29/2023, whereby
share buybacks were never
conducted concurrently with the
share buyback period approved
by shareholders, either based
on the previous general meeting
of shareholders or based on the
AGM decision on June 3, 2025.
7th Agenda Agree 1. Approved the transfer of shares resulting from the Due to the elimination of the 6th
To approve the transfer of 19,536,693,169 share buyback through the implementation of a Agenda as requested by OJK, the
shares resulting from the shares share ownership programme for employees and/or implementation of the 7th Agenda
buyback by implementing the BOD and BOC of the Company, its Subsidiaries, was therefore not implemented.
the share ownership Abstain and affiliated companies;
programme by the 233,930,333 2. Approved and granted authority, with substitution
employees and/or the shares rights, either in part or in whole, to the BOD of the
Board of Directors and the Company to undertake all necessary actions in
Board of Commissioners Disagree connection with the re-transfer of shares resulting
of the Company, the 953,485,311 from the share buyback through the implementation
Company’s Subsidiaries shares of a share ownership programme for employees
and affiliated company. and/or the BOD and BOC of the Company,
its Subsidiaries, and affiliated companies.
8th Agenda – – The 8th Agenda was presented
Report on the realisation solely for reporting purposes,
of use of proceeds from therefore there is no voting
the Bonds Public Offering. and resolution.
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Corporate
Governance
Board of Commissioners Under the Company’s Articles of Association, the following
key decisions require the BOC’s approval:
In accordance with the Company’s Articles of Association,
the BOC is responsible for overseeing the management of • Borrowing or lending funds on behalf of the Company.
the Company by the BOD and providing advice regarding the • Providing guarantees or acting as guarantor.
execution of their duties. The BOC also ensures compliance • Pledging or encumbering Company assets.
with applicable laws and all resolutions of the GMS. • Purchasing, selling, or transferring Company assets outside
normal business operations.
Composition of the BOC • Participating in other companies or making equity investments.
The BOC comprises three (3) members. As stipulated • Establishing or divesting subsidiaries.
by the UUPT, relevant POJK, and BOC Charter, at least • Approving the Company’s Development Plan and annual
30% of the BOC must be independent. Accordingly, Work Plan & Budget.
one (1) member serves as an Independent Commissioner. • Reviewing, approving, and signing the Annual Report prepared
The current members of the BOC were reappointed at by the BOD.
the AGMS held June 3, 2025. As of the end of 2025,
the composition and terms of office of the members of BOC Charter
the BOC members are as follows: The BOC operates in accordance with the GCG Implementation
Guidelines, which is formulated based on Indonesian laws
and regulations, including relevant OJK regulations on the
Name Position Term of Office
Board of Commissioners and corporate governance. This
Yani Y. Panigoro President Commissioner 5 years document is periodically reviewed and serves as the primary
Commissioner 22 years guideline for the BOC’s working relationship with the BOD
and other governance organs, and for upholding the five
Yaser R. A. Panigoro Commissioner 10 years GCG principles.
Marsillam Independent 15 years
Meetings
Simandjuntak Commissioner
As stipulated in the Company’s Articles of Association and
the GCG Guidelines, the BOC must meet at least quarterly
Duties and Responsibilities and hold joint meetings with the BOD at least once every quarter.
The BOC oversees the BOD’s management of the Company, All Commissioners are also required to attend each General
ensures effective risk management and internal control, and Meeting of Shareholders.
monitors the implementation of GCG across the organisation.
The BOC chairs the AGMS, monitors both internal and In 2025, the BOC convened five (5) meetings, conducted
external audits, evaluates the performance of the BOC concurrently with joint BOC & BOD meetings. All meetings
and BOD, and provides recommendations regarding utilised a hybrid format, enabling both in-person and
remuneration for both boards. virtual participation.
Name Title Duties and Responsibilities
Yani Y. Panigoro President • Supervises and provides advice to the BOD, together with other Commissioners, to support
Commissioner effective management of the Company.
• Chairs the Sustainability & Risk Management Committee.
• Serves as a member of the Nomination & Remuneration Committee and the GCG Committee.
• Presides over meetings of the BOC, as well as the joint BOC & BOD meetings.
Yaser R. A. Panigoro Commissioner • Supervises and provides advice to the BOD, together with other Commissioners, in managing
the Company.
• Serves as a member of the Sustainability & Risk Management Committee, the Nomination &
Remuneration Committee and the GCG Committee.
Marsillam Independent • Supervises and provides independent advice to the BOD, together with other Commissioners,
Simandjuntak Commissioner in managing the Company.
• Chairs the Audit Committee, the Nomination & Remuneration Committee and the GCG Committee.
• Serves as a member of the Sustainability & Risk Management Committee.
Commissioners’ Attendance at Meetings in 2025
Name BOC Meeting Joint BOC & BOD Meetings AGMS 3 June 2025
Yani Y. Panigoro 100% 100% 100%
Yaser R. A. Panigoro 100% 100% 0%
Marsillam Simandjuntak 100% 100% 100%
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 93
Competency Improvement for the BOC performance. Based on these assessments, the Committee
MedcoEnergi is committed to maintaining a highly competent BOC. proposes remuneration packages for each Commissioner and
Each Commissioner is required to participate in activities such as Director to the BOC, which are then submitted for shareholder
orientation for newly appointed members, joint site visits with approval at the AGMS.
the BOD, specialised training, relevant professional association
memberships, and involvement in external social or academic BOC Assessment on Committees Performance
boards and committees. The BOC is assisted by the Audit Committee, Sustainability & Risk
Management Committee, Nomination & Remuneration Committee,
In 2025, the BOC advanced its competency through operational site and GCG Committee. The BOC evaluates the performance of each
visits and active participation as members of trustee or supervisory committee and its members at the end of every financial year,
board of social and/or academic organisations outside the Company. considering criteria such as achievement of annual performance
Specific examples of these activities undertaken by BOC members targets and attendance of each member at meetings.
in 2025 are provided in the table below.
Throughout 2025, all committees effectively supported the
Performance Appraisal of the BOC and BOD BOC in supervising the Company and providing recommendations.
Performance monitoring for the BOD, BOC, and individual Committee members demonstrated strong engagement, with full
Board members are conducted through quarterly joint BOD and attendance at every meeting and active participation in discussions
BOC meetings, as well as an annual assessment following the and decision-making.
publication of the annual financial report. The Nomination &
Remuneration Committee evaluates performance using clear Performance Appraisal of the BOC and BOD
criteria: achievement of key performance indicators (KPIs) and
team performance contracts. The results are reviewed and Indicators Target Results
approved by the BOC at the joint BOC & BOD meetings.
1 HSE and Sustainability 100% 100%
Throughout 2025, the specific results of these measurements 2 Availability and Production 100% 90%
are as follows (see table on the right).
3 Growth 100% 140%
The Nomination & Remuneration Committee plays a critical role 4 Operational Excellence 100% 100%
in determining appropriate remuneration for the BOC and BOD.
Recommendations take into account business development results, 5 Financial 100% 110%
individual competencies, and alignment with overall company Average Results 100% 108%
BOC Competency Improvement Activities
Name Activities Organiser Place and Date
Yani Participated in MedcoEnergi Safari Ramadhan and MedcoEnergi Palembang, March 10-11, 2025;
Y. Panigoro Management Visits to Corridor and MPI Ijen Ijen, March 13-14, 2025
Participated in IPA Convex 2025 IPA South Tangerang, May 20-22, 2025
Participated in the inauguration of the operation and Ministry of Energy Bondowoso, East Java,
construction of renewable energy power plants in 15 and Natural Resources June 26, 2025
Provinces in Indonesia of Indonesia
Served as a speaker at the BPW Indonesia International Forum BPW Indonesia (Business Jakarta, August 20, 2025
2025 titled “Women Bridging Nations and Driving Sustainable and Professional Women
Futures: Embracing AI and Green Business Transformation” Indonesia)
Participated in the Board Annual Meeting of Stop TB Stop TB Partnership Jakarta, October 2, 2025
Partnership Indonesia for 2025 Indonesia
Participated in a capability-building sharing session titled MedcoEnergi Jakarta, October 31, 2025
“2025 Global Shifts in Sustainability Transformation” Sustainability & Risk
presented by Environmental Resources Management (ERM) Management Committee
Served as a speaker at the “Inspirational Keyperson” Kompas.Com Jakarta, December 22, 2025
Mother’s Day Programme
Yaser Participated in the Board Annual Meeting of Stop TB Stop TB Partnership Jakarta, October 2, 2025
R. A. Panigoro Partnership Indonesia for 2025 Indonesia
Participated in a capability-building sharing session titled MedcoEnergi Jakarta, October 31, 2025
“2025 Global Shifts in Sustainability Transformation”, Sustainability & Risk
presented by Environmental Resources Management (ERM) Management Committee
Marsillam Participated in a capability-building sharing session titled MedcoEnergi Jakarta, October 31, 2025
Simandjuntak “2025 Global Shifts in Sustainability Transformation”, Sustainability & Risk
presented by Environmental Resources Management (ERM) Management Committee
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Corporate
Governance
Board of Directors Name Position Term of Office
The Board of Directors is the Company’s primary executive body,
Hilmi Panigoro President Director 10 years & 1 month
holding full authority and responsibility for the management and
operation of the Company to achieve its objectives. The BOD has Roberto Lorato Director & CEO 10 years & 1 month
the authority to represent MedcoEnergi both inside and outside Anthony R. Mathias Director & CFO 10 years & 1 month
the court, in accordance with the Articles of Association and
applicable laws and regulations. Ronald Gunawan Director & COO 10 years & 1 month
Amri Siahaan Director & CAO 10 years & 1 month
Composition of the BOD
The BOD comprises five (5) members. The current BOD was first
appointed at the EGMS on November 25, 2015 and was subsequently
reappointed for two (2) additional terms at the AGMS held June 25,
2020 and June 3, 2025. As of the end of 2025, the composition and
term of office of the BOD are as follows (see table on the right).
Duties and Responsibilities
Name Title Duties and Responsibilities
Hilmi Panigoro President • Oversees all Company activities, including development and operations.
Director • In collaboration with the CEO, ensures MedcoEnergi’s functioning, management, and
control. This includes implementing work plans and budgets, adhering to relevant laws and
regulations, and upholding communications policies for government and investor relations.
Roberto Lorato Director & • Manages all Company activities, including development and operations, with the support of
Chief Executive other Directors.
Officer • Collaborates with the President Director on planning, management, and oversight.
• Responsible for planning the work plan and budget and guaranteeing compliance with applicable
laws, regulations, and communication policies regarding government and investor relations.
• Responsible for exploration, production, marketing, sales, occupational health and safety,
social and environmental programmes, budget management, treasury, accounting, corporate
finance, HR development, organisation and business processes, strategic planning, and
business development.
• Ensures the development and implementation of Sustainability & Risk Management policies
and programmes.
Anthony R. Mathias Director & • Oversees and controls the Company’s work plan and budget.
Chief Financial • Develops policies and activities related to formulating and evaluating MedcoEnergi’s strategic
Officer plan and investment appraisals.
• Builds relationships with investors
• Determines, manages, and controls policies concerning the Finance Directorate’s work plan
and the Company budget.
• Responsible for treasury, accounting, tax, financial management, and preparing financial reports.
• Plans, manages, and controls work programmes and budgets, monitors performance,
oversees MedcoEnergi’s treasury, accounting policies, financial reports, taxation, and
long-term financing policies.
Ronald Gunawan Director & • Establishes, manages, and controls MedcoEnergi’s E&P operations and supporting facilities.
Chief Operating • Oversees planning and management of the Oil & Gas assets.
Officer • Plans, manages, and controls work plans and budgets for the Operations Directorate and
evaluates its achievements.
• Develops policies related to Operations, E&P, production, sales and marketing, and corporate
social responsibility.
Amri Siahaan Director & • Establishes, manages, and controls MedcoEnergi’s policies regarding human resources,
Chief Administrative education and training, business processes, and corporate culture.
Officer • Oversees the planning, management, and control of the work plan and budget for the
Administrative Directorate, covering human resources & general services, supply chain
management, relations and security, digital information technology, E&P finance, and the
board administration office sub-directorates.
• Evaluates the sub-directorates’ achievements and develops policies for workforce planning,
human resource development, and empowerment across all divisions within the Directorate
of Administrative.
• Responsible for remuneration, industrial relations, developing management systems, and
shaping MedcoEnergi’s corporate culture.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 95
BOD Charter In 2025, the BOD held twelve (12) meetings, five (5) joint BOC
The BOD operates in accordance with the GCG Implementation and BOD meetings, and one AGMS. All meetings were conducted
Guidelines, which is formulated based on Indonesian laws and in a hybrid format, allowing both in-person and virtual participation
regulations, including relevant OJK regulations on the Board of to ensure flexibility and inclusivity.
Directors and corporate governance. The document, which is
periodically reviewed, serves as the guideline for the BOD’s Competency Improvement for the BOD
duties, responsibilities, and working relationships with other To enhance the effectiveness of each member, all Directors
organs of the Company. participated in various competency development activities
throughout 2025 as listed below.
Meetings
As stated in the Articles of Association and GCG Guidelines, the BOD is
required to hold monthly meetings, convene joint meetings with the
BOC at least quarterly, and attend all General Meetings of Shareholders.
Directors’ Attendance at Meetings
Name BOD Meeting Joint BOC & BOD meetings AGMS 3 June 2025
Hilmi Panigoro 100% 100% 100%
Roberto Lorato 100% 100% 100%
Anthony R. Mathias 100% 100% 100%
Ronald Gunawan 100% 100% 100%
Amri Siahaan 100% 100% 100%
BOD Competency Improvement Activities
Name Activities Organiser Place and Date
Hilmi Presented at Advantage Oman Forum 2025 – Industry Dialogue Oman Ministry of Oman,
Panigoro Commerce, Industry and April 23, 2025
Investment Promotion
Presented at IPA Convex 2025, Plenary Session: Balancing Risk and Indonesian Petroleum South Tangerang,
Opportunities in Global Energy Portfolio Association (IPA) May 20, 2025
Presented as a guest lecturer at Universitas Pertamina Universitas Pertamina Jakarta,
June 10, 2025
Participated in Energy Asia 2025 Petronas Kuala Lumpur,
June 16, 2025
Presented at a focus group discussion with SKK Migas SKK Migas Yogyakarta,
August 1, 2025
Participated in the Indonesia International Geothermal Convention & Indonesian Geothermal Jakarta,
Exhibition Association September 17, 2025
Participated in a capability-building sharing session titled “2025 Global Shifts MedcoEnergi Jakarta,
in Sustainability Transformation”, presented by Environmental Resources Sustainability & Risk October 31, 2025
Management (ERM) Management Committee
Presented at an academic forum at ITB Faculty of Mining and Petroleum ITB Bandung,
Engineering November 13, 2025
Presented at the CEO Networking 2025 themed “Managing Global Trade OJK & IDX Jakarta,
and Empowering Business Strategy” November 18, 2025
Attended and presented at a focus group discussion with the House of DPR RI Jakarta,
Representatives Commission XII December 4, 2025
Presented as a guest lecturer at Master of Management Faculty of Universitas Indonesia Jakarta,
Economics and Business Universitas Indonesia December 8, 2025
Presented at the Thunderbird School of Global Management Thunderbird School of Jakarta,
Global Management December 10, 2025
Served as a speaker at a leadership sharing session for Medco Senior Leadership MedcoEnergi Jakarta,
Development Programme (MSLDP) alumni: “Leading the Medco Way” December 12, 2025
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Corporate
Governance
BOD Competency Improvement Activities (continued)
Name Activities Organiser Place and Date
Roberto Represented senior management in the MedcoEnergi 2030 USD Bond Deal Morgan Stanley, Singapore,
Lorato Roadshow Standard Chartered May 5-9, 2025
Attended and presented at the Oman Petroleum & Energy Show (OPES) Ministry of Energy and Muscat, Oman,
2025 Minerals of Oman May 12-13, 2025
Attended and presented at the APAC Energy Capital Assembly 2025 The Energy Council Singapore,
June 9-10, 2025
Attended and presented at Energy Asia 2025 Petronas Kuala Lumpur,
June 16-17, 2025
Participated in Gastech 2025 Assolombarda and Milan,
Assorisorse September 9-12, 2025
Attended and presented at Singapore International Energy Week 2025 Singapore’s Energy Singapore,
Market Authority (EMA) October 23-27, 2025
Participated in a capability-building sharing session titled “2025 Global Shifts MedcoEnergi Jakarta,
in Sustainability Transformation”, presented by Environmental Resources Sustainability & Risk October 31, 2025
Management (ERM) Management Committee
Anthony Served as the main presenter at the MedcoEnergi 2030 USD Bond Deal Morgan Stanley, Singapore,
R. Mathias Roadshow Standard Chartered May 5-9, 2025
Presented at the Mandiri Investment Forum 2025 Bank Mandiri & Mandiri Jakarta,
Sekuritas February 14, 2025
Presented at the Nomura Investment Forum Asia 2025 Nomura Singapore,
June 4, 2025
Presented at the HSBC 9th Annual Asia Credit Conference HSBC Corporate and Hong Kong,
Institutional Banking June 17-18, 2025
Presented at the Deutsche Bank Indonesia Credit Connect 2025 Deutsche Bank Jakarta,
August 25, 2025
Presented at the JP Morgan Indonesia Forum 2025 J.P. Morgan Jakarta,
September 4, 2025
Participated in APPEC 2025 (Asia Pacific Petroleum Conference) S&P Global Commodity Singapore,
Insights September 8-11, 2025
Participated in a capability-building sharing session titled “2025 Global Shifts MedcoEnergi Jakarta,
in Sustainability Transformation”, presented by Environmental Resources Sustainability & Risk October 31, 2025
Management (ERM) Management Committee
Participated in WECA (World Energy Capital Assembly) 2025 The Energy Council London,
December 1-3, 2025
Ronald Served as a facilitator at the Indonesia Drilling & Well Intervention Forum SKK Migas Bandung,
Gunawan (IDWF) 2025 February 16-17, 2025
Participated in Medco Senior Leadership Development Programme MedcoEnergi Jakarta,
(MSLDP) – Strategic Business Initiatives Presentation February 20, 2025
Participated in MedcoEnergi Safari Ramadan 2025 and Management MedcoEnergi Palembang,
Visit to Rimau March 13-14, 2025
Participated in Advantage Oman Forum 2025 Oman Ministry of Oman,
Commerce, Industry and April 26-30, 2025
Investment Promotion
Participated in the Oman Petroleum & Energy Show (OPES) 2025 Ministry of Energy and Muscat, Oman,
Minerals of Oman May 11-14, 2025
Participated and presented at IPA Convex 2025 IPA South Tangerang,
May 20-22, 2025
Participated in Energy Asia 2025 Petronas Kuala Lumpur,
June 16-18, 2025
Page 99
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 97
Name Activities Organiser Place and Date
Ronald Participated in CEO Forum 2025 SKK Migas Jakarta,
Gunawan July 30, 2025
(continued)
Participated in Management Visit for Bualuang PPE Supplementary MedcoEnergi Bangkok, Thailand,
Agreement Signing at DMF Office August 20-22, 2025
Participated in Singapore International Energy Week (SIEW) 2025 Singapore’s EMA Singapore,
October 26-28, 2025
Participated in a capability-building sharing session titled “2025 Global Shifts MedcoEnergi Jakarta,
in Sustainability Transformation”, presented by Environmental Resources Sustainability & Risk October 31, 2025
Management (ERM) Management Committee
Attended the Grand Launching of Indonesia’s Oil & Gas Exploration (IONGE) Indonesia’s Ministry Jakarta,
2025 of Energy and November 25, 2025
Mineral Resources
Amri Participated in MedcoEnergi Safari Ramadhan and Management Visits to MedcoEnergi Palembang,
Siahaan Corridor and MPI Ijen March 10-11, 2025;
Ijen,
March 13-14, 2025
Presented at the Onboarding Programme on Upstream Oil & Gas Business SKK Migas Jakarta,
Process and Career Development May 7, 2025
Attended and presented at the Oman Petroleum & Energy Show (OPES) Ministry of Energy and Muscat, Oman,
2025 Minerals of Oman May 10-14, 2025
Participated in IPA Convex 2025 IPA South Tangerang,
May 20-22, 2025
Presented at the CGS Meet & Greet CGS International Online,
Sekuritas Indonesia August 14, 2025
Presented at the Public Expose (Pubex) Live 2025 IDX Online,
September 10, 2025
Participated in a capability-building sharing session titled “2025 Global Shifts MedcoEnergi Jakarta,
in Sustainability Transformation”, presented by Environmental Resources Sustainability & Risk October 31, 2025
Management (ERM) Management Committee
Presented at MedcoEnergi National Media Gathering 2025 MedcoEnergi Bandung,
November 15, 2025
Participated in Management site visit to Energi Listrik Batam MedcoEnergi Batam,
December 3-4, 2025
BOD Assessment on Committee and Support 2. Dedicated Teams: Each Director is supported by a dedicated
Team Performance team, ensuring efficient and structured information flow.
Weekly meetings are held within individual support teams
MedcoEnergi promotes a collaborative environment to ensure
and across the BOD, Business Unit Directors, Senior Vice
the BOD is fully supported in fulfilling its management and
Presidents, and Vice Presidents. These sessions facilitate
oversight responsibilities. The BOD is supported by a robust
in-depth discussions on company operations and support
support structure, including the Corporate Ethics and Compliance
informed decision-making.
Committee (CECC) and dedicated management teams:
This dynamic approach enables the BOD to remain well-informed
1. Corporate Ethics and Compliance Committee (CECC):
on critical issues and deliver effective strategic guidance for the
Established by a BOD resolution on October 1, 2024,
sustainable success of MedcoEnergi.
the CECC oversees the Company’s compliance with laws,
regulations, and industry standards by approving policies, The BOD conducts an annual assessment of the performance of
monitoring programme effectiveness, and ensuring alignment the teams supporting each Director and the CECC, based on the
with best practices. It also promotes ethical conduct across established procedures and criteria. The evaluation process includes
the organisation by establishing a code of ethics, providing a review of each team member’s achievements against the annual
training and guidance, managing confidential reporting team performance contracts and attendance of each CECC member
channels, investigating misconduct, and protecting at meetings.
whistleblowers from retaliation.
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98 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Nomination and Remuneration Procedures Remuneration Procedure
The procedure and implementation of remuneration for the
for the BOC and BOD BOC and BOD are as follows:
Nomination Procedure
In accordance with the Company’s Articles of Association 1. Determination of Remuneration
and prevailing regulations, the nomination of members of the • The Nomination & Remuneration Committee reviews
BOC and BOD is conducted through the following process: and recommends remuneration for each BOC and BOD
member annually, considering factors such as annual
• The Nomination & Remuneration Committee, established performance, scope of work, duties and responsibilities
by the BOC, identifies and evaluates potential candidates. and best practices in the industry.
• The Committee assesses candidates based on integrity, • The proposed remuneration is submitted by the BOC
reputation, compliance with applicable laws and regulations, to the GMS for shareholder approval.
professional competence and relevant industry expertise,
through interviews and input from other parties. 2. Remuneration Structure
• The Committee’s assessment process follows formal, The remuneration for BOC and BOD members consists of
transparent, and non-discriminatory criteria, with due salary, allowances, and performance incentives/bonuses, which
consideration given for diversity and equal opportunity. may be in the form of cash and/or Company shares under the
• Following a thorough evaluation, the Committee submits Management Share Award Programme (MSAP). The MSAP
its recommendations to the BOC. scheme was introduced to encourage BOC and BOD to achieve
• Final nominations are proposed by the BOC at the GMS and sustain long-term, sustainable financial performance.
for shareholder approval. Company shares are not granted to Independent Commissioners
to maintain their independence.
3. Remuneration Amount
For 2025, the AGMS on June 3, 2025 approved an aggregate
maximum remuneration of US$33.03 million (including payment
in the form of Management Shares Award Programme in the
total of 49,563,350 shares), effective from January 1 to
December 31, 2025. The Company paid an aggregate actual
remuneration of US$35.4 million in 2025 to the BOC and BOD,
including 49,563,350 Company shares.
Page 101
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 99
Committees Reporting to the BOC Profiles of Audit Committee Members
Ferry Sanjaya, an Indonesian citizen, born in 1971, domiciled in
Audit Committee Jakarta, holds a bachelor’s degree in accounting from STIE Jayakarta
The Audit Committee assists the BOC in overseeing business (1994). He has over 20 years of experience in accounting and
ethics, financial reporting, risk management, internal control, consolidated reporting in the oil and energy sectors, primarily at
and the management of internal and external auditors. It also PT Medco Energi Internasional Tbk, focusing on financial reporting
ensures compliance with applicable laws and regulations. and consolidation, regulatory compliance, and operational efficiency.
He also serves as a member of the Audit Committee of PT Medco
Audit Committee Charter Power Indonesia, CEO of PT Indonesia Hijau Dwidaya, and Finance
The BOC established the Audit Committee Charter on February 5, Director of PT Indonesia Hijau Papan.
2014. The charter governs several aspects, including objectives,
key responsibilities and duties, member and composition, Hendry, an Indonesian citizen, born in 1978, domiciled in Jakarta,
rights and meetings. holds a bachelor’s degree in accounting from Atma Jaya Catholic
University and professional licences including Ak, CA, CPA, and AP
Rights of Audit Committee from the Ministry of Finance. He serves as lead auditor for several
The Audit Committee has full access to all assets, personnel oil and gas companies and oil trading companies, including Pertamina
data, documents, facilities and funding documents relevant to E&P. He is also a member of the Audit Committee of PT Medco
MedcoEnergi. In carrying out its responsibilities, the Audit Committee Power Indonesia and is Managing Partner and Assurance Leader
works closely with the Corporate Audit & Integrity Compliance at KAP Hendry, Ferdy & Rekan.
Division. With the BOC approval, the Audit Committee may
appoint a third party to assist in the performance of its duties. For the profile of Ronny Siahaan, refer to the Corporate Audit
& Integrity Compliance section in page 108. For the profile of
Duties and Responsibilities of Audit Committee Marsillam Simandjuntak, refer to the Management section
The Audit Committee’s duties and responsibilities include, in page 63.
but are not limited to, the following:
Independence of Audit Committee
• Reviewing and assessing the adequacy of audits undertaken All Audit Committee members carry out their duties independently
by external auditors and giving its opinion on the audit results and have no affiliations or conflicts of interest that could affect their
of the Company’s financial statements; impartiality or ability to perform their responsibilities objectively.
• Recommending the appointment of an external auditor;
• Evaluating the performance, competence, independence and
objectivity of the internal and external auditors;
• Reviewing internal audit plans, reports and significant findings;
• Reviewing the Company’s risk management processes to
ensure effective identification and mitigation of financial and
business risks;
• Assessing the effectiveness of internal control systems;
• Reviewing compliance with the Company’s Code of Conduct,
conflict of interest guidelines, and policies and procedures,
including the effectiveness of fraud-risk management;
• Reviewing the Company’s compliance with capital market
laws and regulations, among others.
Audit Committee Composition
According to the Audit Committee Charter, the Committee comprises
three members, including one Independent Commissioner and two
non-Commissioner members appointed from outside the Company.
Throughout 2025, the composition of the Audit Committee
remained unchanged. Since November 4, 2022, the Committee’s
members have been as follows:
Name Position Basis of Appointment Term of Office
Marsillam Simandjuntak Chair/Independent Commissioner BOC Resolution 2025-2030
No. RESO-011/MGT/
Ferry Sanjaya Member/Independent Party
MEDC/V/2025
Hendry Member/Independent Party dated 8 May 2025
Secretary:
Ronny Siahaan, Senior Manager for Corporate Audit & Integrity Compliance
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2025 Management Business Company Corporate
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Corporate
Governance
Audit Committee Training and Competency Development in 2025
Name Training and Competency Development Organiser Place & Date
Ferry (Webinar) Journal Mekari Training: Digital Accounting, Audit Trail and Mekari Academy Online,
Sanjaya Cloud-Based Reporting February 4, 2025
Odoo Functional and Audit Workshop: ERP Audit Modules, Financial Arkana Solusi Digital Tangerang,
Reporting, System Integration March 15-16, 2025
(Webinar) Journal & ERP Synchronization Training: Cross- Platform Mekari Academy Online,
Data Synchronization, Audit Efficiency April 25, 2025
(Webinar) Good Corporate Governance Implementation Training: GCG Arcarta Consultant Online,
Principles, Case Studies, Internalization Strategies June 12-13, 2025
(Webinar) Mekari Journal Training: Digital Accounting and Audit Trail Mekari Academy Online,
October 7, 2025
(Webinar) Mekari Community Training: Audit Efficiency & Reporting Mekari Academy Online,
November 5, 2025
Webinar: Indonesia Economic Outlook 2026-Global Fragmentation & FISIP UI-Federal International Online,
National Growth Strategy Finance (FIFGroup) November 24, 2025
Hendry Seminar: Navigating Digital Accounting: Aligning Skills with Finance- ACCA- Institute of Indonesia Online,
Tech Innovations Public Accountant (IAPI) May 22, 2025
Future-Proofing Economics: The Strategic Role of Accountants in Institute of Indonesia Indonesia Stock
Turbulence Time Chartered Accountant (IAI) Exchange (IDX),
May 23, 2025
Workshop: Standard Quality Management 1, Standard Quality IAPI Online,
Management 2 and Audit Standard 220 May 26-27, 2025
Continued Professional Development Capital Market: Accounting and IAPI- Financial Services Bandung,
Audit Aspects as well as Risk Management in the Financial Statements Authority of Indonesia (OJK) June 23, 2025
of Securities Companies, including Sharia Securities Companies
Greenhouse Gas (GHG) Calculation, Mitigation, Audit and Reporting National Centre for Jakarta,
Corporate Reporting (NCCR) July 28-29, 2025
Sustainability Disclosure Standards and Challenges in Implementation IAI Online,
within Sustainable Finance Transformation August 11, 2025
Workshop Public Accountant in Banking Sector- PPD Certification IAPI)-OJK Jakarta,
August 19-21, 2025
Continued Professional Development: Accounting and Audit and related IAPI)- OJK Jakarta,
regulation for financial reporting FinTech Included Sharia FinTech. August 29, 2025
Sharing session: Socialization of Sustainability Disclosure Standards IAI Online,
IFRS S1 and IFRS S2 December 12, 2025
Audit Committee Meetings and Implementation reviewing the Company’s quarterly and annual financial
of Duties in 2025 statements and assuring the BOC of their compliance with
The Audit Committee meets at least once per quarter and may Indonesia’s Financial Accounting Standards and OJK requirements.
hold additional meetings as needed. In 2025, the Audit Committee Based on the Committee’s recommendation, the BOC approved the
fulfilled its duties and responsibilities as described above, including consolidated 2025 financial statements and related disclosures.
Members Attendance at the Quarterly Meetings for January – December 2025
Name Number of Meetings Meetings Attended Attendance (%)
Marsillam Simandjuntak 4 4 100%
Ferry Sanjaya 4 4 100%
Hendry 4 4 100%
Ronny Siahaan 4 4 100%
Page 103
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 101
Nomination and Remuneration Committee
Nomination and Remuneration Committee Charter
The Committee was reestablished at the BOC meeting on
January 13, 2016, and operates under a Charter ratified by
the BOC on May 18, 2016, in accordance with OJK Regulation
No. 34/POJK.04/2014 (“OJK Regulation No 34/2014”). The
Charter outlines the Committee’s roles and responsibilities,
membership composition and structure, and working procedures.
Duties & Responsibilities of Nomination
and Remuneration Committee
In line with OJK Regulation No.34/2014 and its Charter,
the Nomination & Remuneration Committee performs its
duties independently and reports directly to the BOC.
The Committee’s main functions are:
Nomination Remuneration
1. Recommending to the BOC 1. Recommending to the BOC
the composition of the BOC the structure, policies and
and BOD, nomination amounts of remuneration.
criteria, and performance 2. Assisting the BOC in
evaluations for each conducting performance
Commissioner and Director. evaluations and
2. Assisting the BOC in recommending remuneration
evaluating each adjustments to each
Commissioner’s and Commissioner and Director. Profiles of Nomination and Remuneration Committee Members
Director’s performance Profiles of the Chair and members who are also Commissioners
against their respective KPIs. can be found in the Management section in pages 62-63.
3. Developing and The curriculum vitae of the Committee member who is not a
recommending competency BOC member is provided as follows:
development programmes
Cisca W. Alimin, Member
for Commissioners
Indonesian citizen, 54-years old. Earned a Bachelor of Science
and Directors.
degree in Business Administration from the University of Indianapolis
4. Proposing qualified
in 1992; Obtained a Corporate Secretary Certificate from the
candidates for the BOC and/
Management Institute of the Faculty of Economics, University of
or BOD to be submitted to
Indonesia and the Indonesian Capital Market Foundation in 2001.
the GMS.
Rejoined MedcoEnergi in 2015 and currently serves as Senior
Manager of the Board Administration Office, Commissioners of
Composition of Nomination and Remuneration Committee PT Exspan Petrogas Intranusa, PT Satria Raksa Buminusa, PT Mitra
In accordance with OJK Regulation No. 34/2014 and the Committee Energi Gas Sumatera, PT Mitra Energi Pelayaran, PT Bangkanai
Charter, appointments and dismissals of Committee members must LNG Indonesia, and Supervisory Board of Medco Foundation.
be decided at a BOC meeting. Previously served as Corporate Secretary (2007–2012), Compliance
Lead (2005–2007), Section Head of Compliance (2000–2005),
The Committee must consist of at least three members: an Section Head in Investor Relations (1998–2000), and Office
Independent Commissioner, another commissioner, and an officer Supervisor (1995–1998). Earlier roles included Assistant Executive
from the Board Administration Office. The Committee Chair must be at PT Trisaka Adireksa (1994) and at Mobil Oil Indonesia Inc. (1993).
an Independent Commissioner, and the Secretary must be an officer
from the Board Administration Office. Committee members’ terms Independence of Nomination and Remuneration Committee
cannot exceed those of the BOC, though reappointment is permitted. The Nomination and Remuneration Committee is chaired by an
Independent Commissioner. All members uphold good corporate
The Committee member composition has been reaffirmed following governance by acting objectively, professionally, and independently.
the approval of the shareholders to reappoint the members of BOC.
Based on the BOC Resolution No. RESO-011/MGT/MEDC/V/2025 The Committee operates free from pressure or intervention from
dated May 8, 2025, the composition of the Committee is as follows: any party and is committed to avoiding conflicts of interest.
Name Title Independence Term of Office
Marsillam Simandjuntak – Independent Commissioner Chair Independent 2025-2030
Yani Y. Panigoro – Commissioner Member Affiliate 2025-2030
Yaser R. A. Panigoro – Commissioner Member Affiliate 2025-2030
Cisca W. Alimin – Senior Manager, Board Administration Office Member Independent 2025-2030
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Corporate
Governance
Nomination and Remuneration Committee Training and Competency Development in 2025
Training and competency development activities for BOC members are disclosed in the relevant BOC section on page 93.
Name Organiser Place & Date
Cisca Participated in Pendalaman POJK No. 29/POJK.04/2016 Indonesia Corporate Jakarta,
W. Alimin tentang Laporan Tahunan Emiten atau Perusahaan Publik & POJK Secretary Association January 22, 2025
– Senior No. 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan
Manager, bagi Lembaga Jasa Keuangan, Emiten, dan Perusahaan Publik
Board
Participated in MedcoEnergi Safari Ramadhan and Management MedcoEnergi Palembang, March 10-11,
Administration
Visits to Corridor and MPI Ijen 2025; Ijen, March 13-14,
Office
2025
Participated in IPA Convex 2025 IPA South Tangerang,
May 20-22, 2025
Participated in the inauguration of the operation and construction Ministry Energy and Natural Bondowoso, East Java,
of renewable energy power plants in 15 Provinces in Indonesia Resources of Indonesia June 26, 2025
Participated in the Board Annual Meeting of Stop TB Partnership Stop TB Partnership Jakarta,
Indonesia for 2025 Indonesia October 2, 2025
Participated in a capability-building sharing session titled MedcoEnergi Sustainability Jakarta,
“2025 Global Shifts in Sustainability Transformation”, & Risk Management October 31, 2025
presented by Environmental Resources Management (ERM) Committee
Participated in Finance for Non Finance: Memahami Angka Indonesia Corporate Jakarta,
untuk Komunikasi yang Efektif Secretary Association December 3, 2025
Nomination and Remuneration Committee Meetings
In 2025, the Nomination & Remuneration Committee held three (3) meetings, on January 16, 2025, May 8, 2025 and December 11, 2025.
January 16, 2025 May 8, 2025 December 11, 2025
Attendance
Name Remuneration Nomination and Nomination (%)
review remuneration review review
Marsillam Simandjuntak – Chair Present Present Present 100%
Yani Y. Panigoro – Member Present Present Present 100%
Yaser R. A. Panigoro – Member Present Present Present 100%
Cisca W. Alimin – Member and Secretary Present Present Present 100%
Nomination and Remuneration Committee Acknowledging the BOC’s and BOD’s substantial contributions
Implementation of Duties in 2025 to the Company’s strong performance in 2024, the Committee
In 2025, the Committee fulfilled all its functions as stipulated in recommended a higher remuneration budget for 2025 to reflect
the Committee Charter approved by the BOC on May 18, 2016. their expanded responsibilities, which included certain amount
of shares to be distributed to the BOC and BOD as part of the
Implementation of the Remuneration Function remuneration and Management Share Award Programme (MSAP).
At the January 16 meeting, the Committee reviewed the 2024
salaries of BOC and BOD members relative to their duties and Implementation of the Nomination Function
responsibilities, and recommended appropriate adjustments In 2025, the term of office of the BOC and the BOD came to an end.
for 2025. In view of the continued improvement in the performance of the
BOC and BOD, the Nomination and Remuneration Committee, at
At the 8 May 2025 meeting, the Committee reviewed its meeting held on May 8, 2025, recommended the reappointment
the BOC’s and BOD’s performance against the 2024 team of the incumbent members of the BOC and BOD who had served
performance contracts and KPIs. The Committee also evaluated during the 2020-2025 term. The Committee conducted another
the Company’s 2025 plans as outlined in the 2025 team review on the performance and structure members of the BOC
performance contracts and KPIs. and BOD at its meeting dated December 11, 2025.
Page 105
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 103
Sustainability and Risk Management Committee Profiles of SRMC Members
For profiles of Yani Y. Panigoro, Marsillam Simandjuntak,
The Sustainability and Risk Management Committee (SRMC)
and Yaser R.A Panigoro, see Company Profile – Board of
provides advisory support and oversight to the BOD in
Commissioners, pages 62-63.
MedcoEnergi’s sustainability and enterprise risk management
agenda, including climate change and energy transition. For profiles of Hilmi Panigoro, Roberto Lorato, and
Anthony R. Mathias see Company Profile – Board of Directors,
Duties and Responsibilities of SRMC
pages 64-65.
The Committee’s main duties and responsibilities are to:
1. Issue directives to align sustainability and risk management The profile of the Committee Secretary is provided as follows:
with the Company’s strategy and formally authorise changes
to the Company’s sustainability and risk management policies; Firman Dharmawan, Secretary
2. Ensure an effective risk management system is in place to Indonesian citizen, 58-years old, holds a bachelor’s degree in
mitigate risks that may affect the Company’s sustainable growth; Mechanical Engineering from Institut Teknologi Bandung and a
3. Review and provide recommendations on key business Master of Science in Energy Management from City University,
and operational risks, sustainability programmes and key London. Certified in sustainability (CSRS), risk management
performance indicators. (QRMO, ERMCP), and procurement (C.P.M.-Lifetime). Joined
MedcoEnergi in 2018 as Head of Corporate Sustainability &
Composition of SRMC Risk Management Division. Previously served as Director of
In accordance with the SRMC Charter dated October 1, 2022, Procurement Modernization Project at Millenium Challenge
the SRMC consists of at least five members: Account – Indonesia (2015-2018), and held various management
• Three members represent the BOC of MedcoEnergi. and specialist roles in procurement and projects at Premier Oil
• Three members represent the BOD of MedcoEnergi: Indonesia (2014-2015), the World Bank Headquarters and Jakarta
the President Director, the Chief Executive Officer, and the Office (2001-2013), Premier Oil Natuna Sea Ltd (1999-2001),
Chief Financial Officer. and ARCO Indonesia (1993-1999).
Composition of the Sustainability and Risk Management Committee as of December 31, 2025
Name Position Basis of Appointment Term of Office
Yani Y. Panigoro Chair/Commissioner BOC Resolution 2025-2030
No. RESO-011/MGT/MEDC/V/2025
Marsillam Simandjuntak Member/Independent Commissioner
dated May 8, 2025
Yaser R. A. Panigoro Member/Commissioner
Hilmi Panigoro Member/President Director
Roberto Lorato Member/Chief Executive Officer (CEO)
Anthony R. Mathias Member/Director & Chief Financial Officer (CFO)
Secretary: Firman Dharmawan, Head of Corporate Sustainability & Risk Management
SRMC Meetings and Implementation of Duties in 2025
The Committee members meet periodically to discharge their duties The Committee also evaluated the effectiveness of the Enterprise
and responsibilities, and maintain proper records of their proceedings. Risk Management principles, framework, and processes, as well as
Throughout 2025, the Committee convened six (6) times, focusing on the Sustainability Strategy. Additionally, it monitored the progress
key risks associated with the Company's strategic business activities and outcomes of specific sustainability programmes, including those
– such as acquisitions, divestments, new projects, and financing. addressing climate change risks and strategy.
Name Number of Meetings Number of Attendance Attendance (%)
Yani Y. Panigoro 6 6 100%
Marsillam Simandjuntak 6 6 100%
Yaser R. A. Panigoro 6 6* 100%
Hilmi Panigoro 6 6 100%
Roberto Lorato 6 6 100%
Anthony R. Mathias 6 6 100%
Firman Dharmawan 6 6* 100%
*Attendance includes meetings represented by another SRMC member or designated representative in accordance with the SRMC Charter
Page 106
2025 Management Business Company Corporate
104 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Good Corporate Governance (GCG) Committee Profiles of GCG Committee Members
For profiles of Marsillam Simandjuntak, Yani Y. Panigoro, and
GCG Committee Charter
Yaser R.A Panigoro, see Company Profile – Board of Commissioners,
The BOC established the GCG Committee on February 5, 2014,
pages 62-63.
in accordance with the GCG Committee Charter signed by the BOC.
The Committee assists the BOC in supervising, monitoring, and For profiles of Hilmi Panigoro, Roberto Lorato, Anthony R. Mathias,
ensuring the consistent implementation of GCG and corporate and Amri Siahaan, see Company Profile – Board of Directors,
values practices across all levels of MedcoEnergi. pages 64-65.
Duties and Responsibilities of GCG Committee GCG Committee Training and Competency Development in 2025
As outlined in the Charter, the GCG Committee’s key responsibilities For training and competency development of Marsillam
and duties are: Simandjuntak, Yani Y Panigoro, Yaser R.A Panigoro, see page 93.
• Reviewing and evaluating GCG principles and standards to be
implemented across the MedcoEnergi Group; For training and competency development of Hilmi Panigoro,
• Periodically reviewing GCG policies set by the BOD to ensure they Roberto Lorato, Anthony R. Mathias, and Amri Siahaan,
are in line with GCG principles and recommending adjustments, see pages 95-97.
amendments and improvements as required;
• Evaluating potential conflicts of interest or other violations within
GCG Committee Implementation of Duties in 2025
the BOD of the MedcoEnergi Group and recommending In 2025, the GCG Committee reviewed key programme deliverables,
appropriate actions; including prevention commitments through the Statement of
• Reviewing the BOD’s annual report on GCG implementation;
Adherence and the Contractor Statement of Ethical Compliance,
• Promoting consistent implementation of GCG practices, with
education and awareness initiatives, collective action, whistleblowing
Committee members serving as role models for the system and ethics hotline, audit and assurance activities, compliance
MedcoEnergi Group. risk profile, the organisation’s anti-corruption journey, and initiatives
to enhance governance through technology.
Composition of GCG Committee
The BOC appoints the members of the GCG Committee, which must comprise at least five members: three from the BOC and two of the BOD.
The Committee is chaired by an Independent Commissioner.
Name Position Basis of Appointment Term of Office
Marsillam Simandjuntak Chair/Independent Commissioner BOC Resolution 2025-2030
No. RESO-011/MGT/MEDC/V/2025
Yani Y. Panigoro Member/Commissioner
dated May 8, 2025
Yaser R. A. Panigoro Member/Commissioner
Hilmi Panigoro Member/President Director
Roberto Lorato Member/CEO
Anthony R. Mathias Member/CFO
Amri Siahaan Member/CAO
Secretary: Ronny Siahaan, Senior Manager for Corporate Audit & Integrity Compliance
GCG Committee Meetings in 2025
The 2025 GCG Committee meeting attendance was as follows:
Name Number of Meetings Number of Attendance Attendance (%)
Yani Y. Panigoro 1 1 100%
Marsillam Simandjuntak 1 1 100%
Yaser R. A. Panigoro 1 1 100%
Hilmi Panigoro 1 1 100%
Roberto Lorato 1 1 100%
Anthony R. Mathias 1 1 100%
Amri Siahaan 1 1 100%
Ronny Siahaan 1 1 100%
Page 107
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 105
Committees Reporting to the BOD
Corporate Ethics and Compliance Committee (CECC)
The Corporate Ethics and Compliance Committee (CECC) was
established on October 1, 2024, by a resolution of the BOD to
oversee the company’s ethics and compliance functions.
Duties and Responsibilities of CECC
The CECC is responsible for overseeing the Company’s ethics,
compliance, and whistleblowing framework to ensure fairness,
objectivity, and transparency. The CECC reviews and evaluates
the implementation and enforcement of the Company’s Code of
Ethics, anti-bribery and compliance policies, and the effectiveness
of monitoring, detection, and reporting systems. It also ensures
impartial handling of ethics-related incidents, protection of
whistleblowers, and consistent application of corrective actions.
The CECC’s role is aligned with OJK regulations and international
best practices, including the ISO 37001 Anti-Bribery Management
Systems and the ISO 37002 Whistleblowing Management Systems.
Composition of CECC
The committee is chaired by the Chief Administrative Officer and
includes senior leaders. Additional representatives from relevant
functions may be invited as needed, depending on the issues
being addressed.
Name Position Basis of Appointment Effective Date
Amri Siahaan Chair/Director & CAO BOD Resolution October 1, 2024
No: INT-001/BOD/MEDC/IX/2024
Ronald Gunawan Member/Director & COO
dated September 30, 2024
Anthony R. Mathias Member/Director & CFO
Siendy K Wisandana Member/VP Corporate Legal Counsel & Corporate Secretary
Iwan Prajogi Member/Senior VP Business Support BOD Resolution June 19, 2025
No: INT-004/MGT/INA/MEDC/
VIII/2025
Tia N. Ardianto Member/VP Human Resources & General Services BOD Resolution October 1, 2024
No: INT-001/BOD/MEDC/IX/2024
Ronny Siahaan Secretary/Senior Manager for Corporate Audit &
dated September 30, 2024
Integrity Compliance
CECC Meetings
The CECC holds regular meetings to address emerging risks or urgent matters. The 2025 CECC meeting attendance was as follows:
Name Number of Meetings Number of Attendance Attendance (%) Reason for Absence
Amri Siahaan 2 2 100% N/A
Ronald Gunawan 2 2 100% N/A
Anthony R. Mathias 2 1 50% Business trip
Siendy K Wisandana 2 2 100% N/A
Iwan Prajogi 2 2 100% N/A
Tia N. Ardianto 2 2 100% N/A
Ronny Siahaan 2 2 100% N/A
Page 108
2025 Management Business Company Corporate
106 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Corporate Secretary 2. Advising the BOC and BOD and all corporate functions on
legal matters, especially in ensuring compliance with capital
The appointment of Corporate Secretary at MedcoEnergi was in markets laws and regulations and financial sector policies.
accordance with Financial Services Authority (OJK) Regulation 3. Assisting BOC and BOD and all corporate functions
No. 35/POJK.04/2014 dated December 8, 2014. in implementing corporate governance, including:
Profile of Corporate Secretary a. disclosing information through the Company’s website
Siendy VP Corporate Legal Counsel and Corporate and press releases;
K. Wisandana Secretary, Indonesian citizen, born in 1969 b. submitting periodical reports to OJK and Indonesia
Stock Exchange (IDX);
Corporate Memo No. INT-1520/TAL/MEDC/ preparing and organising annual and extraordinary
Legal Basis of c.
XII/2016 regarding Corporate Secretary general meetings;
Appointment
dated December 28, 2016 d. organising and documenting the BOD and/or BOC
• Hanafiah Soeharto Ponggawa (1991) meetings on legal matters; and
Career
• Hadiputranto, Hadinoto & Partners (1991-2003) e. conducting orientation programmes on relevant Company
History
• MedcoEnergi (2003 – now) Law, Capital Market Law, Development and Strengthening of
the Financial Sector (P2SK Law) and/or other laws and
Education Bachelor of Law, Parahyangan
regulations which are relevant for the affairs of the Company
History Catholic University (1991)
and our Directors and Commissioners.
Domicile DKI Jakarta
4. Acting as liaison between the Company and the shareholders,
E-mail corporate.secretary@medcoenergi.com the OJK, IDX, Shares Administrative Bureau, Indonesia Central
Securities Depository KSEI), Ministry of Law, Ministry of Energy
Duties and Responsibilities of Corporate Secretary and Mineral Resources, and other stakeholders.
The duties and responsibilities of the Corporate Secretary include
the following: Implementation of Corporate Secretary’s Duties and Function
In 2025, the Corporate Secretary Unit assisted BOC and BOD in
1. Monitoring developments in capital market regulations and (i) facilitating effective communication between MedcoEnergi’s
financial sector policies, particularly those issued by OJK BOD and stakeholders, (ii) strengthening the Company’s
under Law No. 8 Year 1995 on Capital Market and Law No. 4 engagement with institutions and Government authorities; and
Year 2023 on the Development and Strengthening of the (iii) ensuring compliance with prevailing OJK and IDX regulations,
Financial Sector (P2SK Law). as well as the Company’s Articles of Association.
Training and Competency Development Programme in 2025
Throughout 2025, the Corporate Secretary has participated in various trainings and events as follows:
Date Event Organiser
January 14, 2025 Webinar: Discriminatory Practices from the Perspective of Business Competition Law Hukumonline
January 16, 2025 Socialization SPT 2025 through Coretax DJP
January 23, 2025 Seminar: Management Inspiration Programme IDX
February 6, 2025 Socialization of OJK Regulation Number 45/2024 on the Development and Strengthening OJK
of Issuers and Public Companies (POJK 45/2024)
February 18, 2025 Webinar: Developments in Labour Law Regulations and Best Practices in Indonesia Hukumonline
February 25, 2025 Seminar: Elevating ESG: A Dive into MSCI’s Methodologies, Tools & Insights on IDX
Financial Performance
February 25, 2025 Webinar: Sustainability Report Awareness IDX (Zoom Webinar)
March 3, 2025 Dialogue with Capital Market Participants IDX
March 7, 2025 Socialization of eASY.KSEI Batch 3 Year 2025 KSEI (Zoom Webinar)
May 14, 2025 Socialization of Amendments to Exchange Regulation Number I-P on the Listing of IDX
Structured Warrants on the Exchange
May 19-24, 2025 Basic Level I Professional Education for Legal Consultants in the Financial Sector Hukumonline and
Association of Legal
Consultants for the
Financial Sector
May 20, 2025 Webinar: GRI Financial Services (Banking, Insurance and Capital Market) Sector Standard: IDX and AEI
Exposure Drafts (Zoom Webinar)
May 23, 2025 Seminar: Future-Proofing Economies: The Strategic Role of Accountants in IDX and IAI
Turbulent Times”
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 107
Date Event Organiser
August 26, 2025 Socialization POJK No. 14/2025 on the Electronic General Meeting of Shareholders (GMS), AEI-OJK
Electronic Bondholders Meeting (EBHM), and Electronic Sukuk General Meeting. (Zoom Webinar)
August 27, 2025 Webinar: Focus Group Discussion POJK No. 9/2025 on the Dematerialization of OJK
Equity Securities and Management of Unclaimed Assets in the Capital Market. (Zoom Webinar)
August 27-28, 2025 Understanding Financial Literacy for Legal Practitioners and Professionals Hukumonline
August 28, 2025 Socialization SEOJK No. 10/SEOJK.04/2025 on the Electronic Submission of Reports on AEI-OJK
Ownership or Changes in Share Ownership & Activities of Pledging Shares of Public Companies. (Zoom Webinar)
September 13, 2025 Webinar: Workshop on IFRS Sustainability Standards IDX–UN SSE
(Zoom Webinar)
September 23, 2025 Webinar: Exploration of e-GMS: Practical Alternatives to the Securities Administration AEI-Bima Registra
Bureau (Biro Administrasi Efek - BAE) System for Ease and Transparency for Issuers (Zoom Webinar)
October 9, 2025 Invitation to Capital Market Participants Dialogue with the Minister of Finance of the IDX
Republic of Indonesia
October 29, 2025 Webinar: Socialization of Sustainability Disclosure Standards (IFRS 1 and IFRS 2) IDX-IAI (Zoom Webinar)
November 5, 2025 Workshop: Strategic Funding with Sukuk: Preparing for 2026 Opportunities IDX
November 17, 2025 Orange Forum 2025 From the South, for the Future: Financing Global Sustainability IDX
through Inclusion
December 9, 2025 Webinar: Human Rights Due Diligence GRI-IDX-AEI
(Zoom Webinar)
December 11, 2025 Training: Implementation of Capital Market Governance: Mastering Regulations on Hukumonline.com
Material Transactions, Affiliated Transactions, and Legal Risk Mitigation
Corporate Audit & Integrity Compliance The Division also regularly assesses and recommends
improvements to risk management processes and evaluates risk
The Head of Corporate Audit & Integrity Compliance (A&IC) reports exposure in the Company’s operations and information system,
directly to the CEO and oversees the internal audit function for with the following objectives:
MedcoEnergi and its subsidiaries, evaluating the effectiveness of
governance, risk management, internal controls, and ethics a. Achieving the Company’s strategic objectives.
compliance across the organisation. b. Maintaining the reliability and integrity of financial and
operational information.
The Corporate Audit & Integrity Compliance Division has been c. Maintaining the effectiveness and efficiency of operations
restructured to enhance its capabilities. The Division currently and programmes.
includes: Ethics and Compliance Offshore and General; Ethics d. Safeguarding assets.
and Compliance Corridor and Onshore; General Audit; Integrity e. Ensuring compliance with laws, regulations, policies,
Compliance; and A&IC Excellence. These departments work procedures, and contracts.
collaboratively to support corporate strategy, strengthen
organisational capabilities, and improve the effectiveness of The A&IC Division supports the BOD in fostering a culture that
the Internal Audit function. embraces ethics, honesty and integrity, and in managing fraud
and fraud risks across the Company.
Duties and Responsibilities of Corporate A&IC Function
The Division has developed comprehensive compliance Fraud prevention: The Division monitors and evaluates the
programmes to prevent, detect, and respond to bribery, Company’s internal controls for detecting and mitigating fraud,
corruption, and fraud risks across all assets operated by the evaluates the fraud risk assessments within the Company and
Company, its subsidiaries, and joint ventures. among third-party contractors, assesses the adequacy of related
controls and recommends improvements.
To ensure effective programmes, the Corporate Audit & Integrity
Compliance Division assesses and recommends improvements Fraud detection: The Division conducts data analysis, manages
to governance with the following objectives: fraud risk, and performs audit, verification and other activities to
detect, identify, monitor and prevent fraud.
a. Promoting high standards of business ethics within the Company.
b. Ensuring effective fraud risk management. Fraud response: The Division responds to issues raised through the
c. Collecting information on risk, anti-bribery, and anti-corruption internal ethics hotline and/or whistleblower channel, investigates any
risk controls across the Company. Code of Conduct breach or fraud, manages investigations, reports
findings and any situations that may give rise to wrongdoing directly
to the BOD, and provides recommendations for corrective action.
Page 110
2025 Management Business Company Corporate
108 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Position of Corporate A&IC Function in the Organisation organisation. With the Audit Management System introduced in
2024, audit activities – from planning and execution to reporting –
are now more efficient and proactive in identifying and addressing
risks. The Corporate Ethics and Compliance Committee (CECC),
President comprising senior leadership, enhances internal audit effectiveness
Director by overseeing whistleblower reports and ensuring fair and
consistent disciplinary actions.
Internal audit also strengthens the company’s integrity and
anti-corruption measures by conducting regular audits of the
Anti-Bribery Management System (ABMS), certified under
Director ISO 37001:2016 across multiple assets. In 2025, the team
& CEO completed 22 vendor audits focused on logistics and inspection
and to assess contract compliance and internal controls.
The Ethics Liaison Officer (ELO) and Compliance Champion
programmes have been expanded to foster ethical awareness and
audit readiness. Internal audit is also key to implementing due
diligence for third-party risk management, including anti-money
laundering and sanctions compliance assessments.
To reinforce governance, internal audit has adopted ISO 37002:2021
Director Director Director
for whistleblower management and monitors the effectiveness of
& COO & CAO & CFO
grievance mechanisms and fraud risk controls.
The internal audit function holds regular meetings with:
• GCG Committee (see page 104)
Head of • Audit Committee (see page 100)
Corporate • CEC Committee (see page 105)
Audit & • BOD
Integrity
Compliance Internal Control of Risk and Compliance
Framework
MedcoEnergi implements an internal control system to safeguard
Company assets and investments as part of its GCG practices.
The system includes:
Profile of Head of Corporate A&IC Function 1. A structured internal control framework;
Ronny Siahaan 2. A programme to assess and manage business risks;
Indonesian citizen, born in 1968. Joined MedcoEnergi in 2012 3. An information and communication system;
and was appointed Senior Manager for Corporate Audit & 4. Control and monitoring activities, including internal audit,
Integrity Compliance in September 2018. Previously served anti-corruption and anti-bribery controls assured by
as Senior Manager of Finance Control and Government Audit an independent third party and a certification body;
(2012-2014) and Senior Manager of Internal Audit for Medco E&P 5. Application across all divisions and subsidiaries,
Indonesia (2014-2017). Earlier roles included Finance Control and covering all duties and authorities at every level.
Accounting Manager at Pertamina Hulu Energi Offshore North West
Java (2009-2012), various management roles at BP West Java, Effectiveness Review
BP Berau, BP Upstream Indonesia, and BP Petrochemical and The internal control system is implemented at every level
Downstream (1999-2009). Ronny Siahaan holds certifications, of the organisation, with each division and subsidiary
including ERMCP, PECB Certified ISO37001 LA., PECB Certified responsible for evaluating its effectiveness as risk owners.
ISO37001 LI., API., and CfrA. Also serves as Adviser and Chair The Corporate Audit & Integrity Compliance Division is
for a professional auditor and compliance forum in the oil and tasked to evaluate the efficiency and effectiveness of the
gas industry. overall system.
Internal Audit Charter Statement of the BOD on Internal Control Adequacy
The Company’s Internal Audit Charter, prepared by the Audit
Committee, was approved by the BOC on January 2, 2012, The BOD affirms that there are no transactions of a material
and updated on February 7, 2022. It has been communicated nature, individually or in the aggregate, that have not been
and implemented across the MedcoEnergi Group. properly recorded in the accounting records underlying the
consolidated financial statements. Furthermore, there are no
Implementation of Duties in 2025 significant deficiencies, including material weaknesses, in the
MedcoEnergi’s internal audit function plays a pivotal role in design or operation of internal controls that could adversely
the Corporate Governance Assurance Framework, promoting affect the Company’s ability to record, process, summarise,
ethical conduct, transparency, and compliance throughout the and report financial data.
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 109
Corporate Sustainability and Risk Management Risk Management Framework and Governance Structure
The Corporate Sustainability and Risk Management Division reports MedcoEnergi applies a proactive ERM Framework aligned with
directly to the CEO and provides strategic support to the BOD. ISO 31000:2018 Principles, Framework, and Process. This approach
This Division is responsible for developing and implementing the ensures a systematic and comprehensive process for identifying,
infrastructure for the Company’s Sustainability and Enterprise Risk assessing, evaluating, mitigating, and monitoring risks across all
Management (ERM) Framework, including Human Rights, Climate business activities.
Change Strategy and Energy Transition initiatives. Through this
The Company is committed to managing and mitigating risks,
Division, the BOD oversees the preparation of the sustainability
with ongoing reviews to ensure the effectiveness of its controls.
report, ensuring its accuracy, completeness and alignment with
MedcoEnergi takes a proactive approach to risk mitigation with
relevant sustainability reporting requirements, frameworks and
a policy of zero-tolerance of deviations from our stringent health,
standards. The Sustainability and Risk Management Committee,
safety, environment, and regulatory compliance frameworks.
consisting of Commissioners and Directors, sets the agenda and
provides recommendations on risk management to ensure the
Company’s long-term sustainability.
Risk
Management
Principles
Continual Integrated
Improvement
Human & Structured &
Cultural Factors Comprehensive
Value Creation
& Protection
Best Available Customised
Information
Risk Risk
Management Dynamic Inclusive Management
Framework Process
Scope, Context, Criteria
Improvement Integration
Risk Assessment
Communication &
Risk Identification
Monitoring &
Consultation
Review
Leadership & Risk Analysis
Commitment
Risk Evaluation
Evaluation Design
Risk Treatment
Implementation Recording &
Reporting
MedcoEnergi’s Risk Management Framework ISO 31000:2018
Page 112
2025 Management Business Company Corporate
110 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Strategic level
el
Lev
• Issues directives to align risk management to the overall
SRMC ¹ company strategy
gic
• Review key risks escalated by the Board of Directors (BOD)
ate
• Provide recommendation to the Board of Commission (BOC)
Str
vel
Tactical level
l Le
• Ensure and oversee implementation and
Board of Directors effectiveness of risk management processes
tica
(BOD) • Review all key risks at a periodic interval
Tac
• Review and recommend risk management
process improvements
el
Lev
Head – ERM Function Operational level
nal
• Implement risk management processes
Functional & Asset Head / Subsidiary Directors ²
tio
• Track risk indicators
era
Function / Subsidiary Risk Champions • Update the BOD on risks through reports
Op
Risk Owners
1 Sustainablility Risk Management Committee (SRMC);
2 Functional/Asset Heads are the Heads of sub-directorate,
division, and asset or block as defined in the approved
reporting governance structure.
MedcoEnergi’s Risk Management Governance Structure
The ERM governance structure defines clear lines of authority Risk Management Basis
at the strategic, tactical and operational levels across the Group.
At MedcoEnergi, the basis for risk management implementation
It covers risks related to strategy execution, financial performance,
is as follows:
operations, information technology security, regulatory, people
and organisation, health and safety, and ESG, including third-party 1. Enterprise Risk Management Policy of MedcoEnergi
risks from suppliers and contractors. The framework also provides dated July 1, 2022.
clear and structured guidance for both the BOC and the BOD, 2. Sustainability Risk Management Committee Charter
with regular monitoring and reporting to ensure continuous dated September 16, 2022.
improvement of risk mitigation strategies. 3. ISO 31000:2018 Risk Management – Principles, Framework
and Process Guidelines.
Key Risk Factors and Mitigation Measures 4. Sustainability Policy dated May 8, 2020.
MedcoEnergi systematically identifies, assesses, evaluates, 5. Good Corporate Governance Implementation Guidelines.
and monitors risks on a regular basis, considering both internal
and external factors that may impact the business. The 2025
risk assessment identified the following key risks:
Risk Control Measures
1. We are dependent on our ability The Company actively explores, develops, and acquires new reserves to replace those depleted
to produce from and/or develop or divested, thereby maintaining or enhancing production levels. Scenario-based planning is also
existing reserves, replace existing undertaken to ensure strategic options are available for reserve replacement and long-term
reserves and find and develop production continuity.
additional reserves for our core
oil and gas business.
Page 113
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 111
Risk Control Measures
2. The volatility of prices for crude oil Half (50%) of the Company’s natural gas production is sold under long-term fixed-gas price
could adversely affect the Group’s contract, which gives some protection to the volatility of crude prices.
financial condition and results Crude oil prices are continuously monitored, and scenario analyses are conducted to assess the
of operations. financial and operational implications of potential price movements. In the event of sustained
low oil prices, the Company implements cost optimisation measures, including reductions in
production costs and adjustments to capital and exploration activities.
The Company conducts an annual review of its hedging policy and undertakes regular monitoring
of cash flow and forward curves.
3. Our business is capital intensive. The Company functional currency is denominated in USD. Funding sources are a mix of USD-
Volatility in currency and interest and IDR-denominated facilities, predominantly with fixed interest rates. Where appropriate, the
rates or restricted access to funding Company enters into Currency and Interest Rate hedging to mitigate volatility risks. Maintaining a
may affect our financial condition. diverse range of banking relationships for diversified types of funds raising remains our strategy
to secure access to funding. In addition, capital efficiency opportunities are continuously explored
to optimise operational efficiencies and support overall financial performance.
4. Our business is subject to significant The Company maintains compliance with Indonesian laws and regulations through coordination
government laws and regulation. with relevant central and local government authorities in relation to the operation of its Indonesian
assets, including the Ministry of Finance, Ministry of Energy and Mineral Resources (MEMR),
Ministry of Manpower, OJK, IDX, and SKK Migas. The Company also maintains compliance with
applicable laws and regulations in other jurisdictions or countries where it operates. In addition,
the Company actively monitors new legislation and staying updated by participating in various
legal communities, seminars conducted by the above stakeholders or other credible legal Institutions.
5. Our main operations are subject We have established a Health, Safety, and Environment Management System (HSEMS) aligned
to significant operating hazards, with ISO 45001, ISO 14001 and IOGP 456, supported by Company standards, guidelines, and
including fires, explosions, blowouts, operating procedures to ensure the consistent implementation of comprehensive HSE practices
oil spills, natural disasters, climate across our operations. In addition, we have developed a climate change strategy and conduct
change, and extreme weather. regular risk assessments to strengthen business resilience.
6. We are dependent on key personnel We have established a Capability Development framework and platform, which includes a talent
as well as the availability of qualified management and succession planning system, facilitates people development through various
technical personnel. programmes, movement across assets and functions to fill competency gaps. We implement
technical training and leadership programmes to strengthen workforce capabilities.
In addition, organisational reviews are also conducted to ensure alignment with business needs.
7. Increasing scrutiny and changing We have a five-year Sustainability Roadmap, KPIs, and Targets for the implementation of
expectations from our investors, sustainability programmes and initiatives, including climate change. We have conducted
customers and employees with capability-building activities of ESG risks to our workers. We have also integrated environmental,
respect to ESG practices may social, and governance aspects across our operations and projects. We closely monitor the
impose additional costs on us or stakeholder expectations within a dynamic market to ensure that our sustainability practices align
expose us to new or additional risks. with the evolving requirements of the disclosure framework.
8. Governance Risk & Compliance We uphold our Code of Conduct across all operations, anchored on the principles of Ethics and
(fraud, bribery, corruption, and Integrity. To mitigate fraud, bribery, corruption, and ethical misconduct risks, we implement
violations of business ethics). international best practices and compliance standards, including ISO 37001 (Anti-Bribery Management
System) and ISO 37002 (Whistleblowing Management System). These are reinforced through regular
audits, integrity compliance reviews, and ethics programmes, ensuring continuous improvement and
alignment with applicable laws, regulations, and stakeholder expectations.
9. Our business could be negatively We strengthened our Social Management System (SMS) through cross-functional collaboration
affected by social risks and security across company functions and enhanced team competencies to effectively identify, manage,
threats, including cybersecurity and mitigate social risks. It is also focused on fostering stakeholder engagement and ensuring
threats, destructive forms of that grievance mechanisms are aligned with the United Nationals Guiding Principles on Business
protest and opposition by activists and Human Rights (UNGP) criteria. The Company protects assets through the Medco Security
and other disruptions. Management System (MSMS) and an integrated plan covering physical systems, risk assessments,
and the Zero Incident Programme. Security is further reinforced by cooperation with state forces
assigned to national vital objects (Objek Vital Nasional – Obvitnas), external security service
providers (Badan Usaha Jasa Pengamanan – BUJP), and proactive measures such as stakeholder
engagement, personnel security, and intelligence monitoring.
Our cybersecurity practices are aligned with Information Security Management System (ISMS)
standards. Key initiatives include upgrading our security infrastructure, establishing a 24/7
Security Operations Centre (SOC), reinforcing governance frameworks, and fostering a security-
conscious culture through awareness programmes and regular exercises.
10. Our business was materially and The Company implemented an Operational Continuity Plan to maintain business resilience.
adversely affected by the COVID-19 The Plan outlines immediate actions in response to significant infections among staff members
pandemic and could be impacted and provides detailed procedures for operational personnel. It applies to all business units and is
negatively by any resurgence or tailored to each asset.
other future outbreaks.
Page 114
2025 Management Business Company Corporate
112 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Effectiveness Review Business Continuity
MedcoEnergi periodically reviews and evaluates its risk management MedcoEnergi has established a Business Continuity Policy and
practices in accordance with ISO 31000:2018. In 2025, an internal risk Standard aligned with ISO 22301:2019. Plans are in place to ensure
management maturity assessment was conducted, covering culture, the continuity of critical business functions and assets in the event
governance, processes, reporting, analytics, and data management. of disruptions, including a disaster recovery plan to restore all critical
The results provided the basis for updating the risk management systems and data in the event of a data centre incident. Annual
strategy roadmap, further strengthening the Company’s enterprise- disaster recovery exercises validate these recovery procedures and
wide capabilities in managing risks and opportunities. test the Company’s ability to restore all critical systems and data.
Statement of BOC and BOD on Adequacy of the Implementation Material Legal Cases
The Board of Commissioners and Board of Directors affirm that
MedcoEnergi’s risk management system is effective and adequate. Until the end of 2025, the Company, members of the Board of
This system enables the proactive identification and management Commissioners and Board of Directors were not involved in any
of risks and opportunities to create, optimise, and protect enterprise legal cases that materially impacted the Company’s continued
and stakeholder value. Risk management is fully integrated into the business operations.
Company’s practices and serves as an essential management tool.
MedcoEnergi Code of Conduct
Insurance Cover for Company Assets in Certain Countries
Key Principles of Code of Conduct
MedcoEnergi maintains adequate insurance coverage to safeguard
The MedcoEnergi Code of Conduct outlines the fundamental
its assets and support operational activities. Insurance packages
principles that guide the behaviour of the BOC, BOD, employees
are reviewed at least annually to ensure they are fit for purpose
and stakeholders in performing their duties and responsibilities.
and cost efficient. Current insurance policies cover property,
The main points of the Code cover our commitments and
general cargo, rigs, hulls, machinery, motor vehicles, airports,
responsibilities, protection of employees and workplaces, protection
loss of production income, and political violence. The Company
of the Company’s interest and assets, respect for stakeholders,
also provides employee insurance and standard general liability
and compliance with the law, as illustrated in the figure below.
insurance for energy companies.
Protecting Our Protecting Our
Our Commitment Employees and Company’s Interests Respecting Our Obeying
& Responsibilities Our Workplaces and Assets Stakeholders the Law
• Our Corporate • Diversity, Equity, • Conflicts of Interest • Our Business • Corruption
Values and Code and Inclusion (DEI) - Relationships Partners and and Bribery
of Conduct • Respectful - Outside Work Suppliers - Facilitating
• Sustainability, Workplaces - Gift and Entertainment - Confidentiality Payments
Climate Change & • Personal Data - Self-Dealing and Proprietary • Preventing
Energy Transition Protection - Other Conflicts Information with Money
• Human Rights • Safe Workplaces of Interest Business Partners Laundering
• Expectations - Health, Safety, • Accuracy of Financial and Suppliers • Involvement
of Everyone and Environment Reporting - Fair Competition in Politics
• Expectations (HSE) • Protecting Company’s and Dealings • Compliance
of Supervisors - Substance Abuse Assets - Gathering with International
• Raising Concerns • Mental Health - Protecting the Competitive Trade Regulations
- Whistleblowing & Wellbeing Company’s Information Intelligence
- No Retaliation - Document Retention • Our Communities
• Disciplinary Actions - External Knowledge - Upholding Our
Sharing Corporate Social
• Intellectual Property Responsibilities
Rights • Our Government
• Information Technology - Contracting with
and Communication Government
System
- Business and Social
Media Communications
• Insider Trading
Page 115
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 113
Code Enhancement MedcoEnergi’s Third-Party Risk Management Programme is a
In 2025, MedcoEnergi conducted the Code of Conduct comprehensive, risk-based framework designed to ensure ethical,
benchmarking and enhancement initiative. This process resulted compliant, and sustainable engagement with vendors and contractors
in the enhancement of eleven (11) items – including Human Rights, across its global operations. The programme is structured around six
Personal Data Protection, Respectful Workplace, Business and pillars: Commit, Contract, Communicate & Educate, Evaluate, Source
Social Media Communications, Preventing Money Laundering, & Procure, and Detect. These pillars guide the integration of corporate
Whistleblowing, Diversity, Equity and Inclusion, Indigenous Rights policies – such as the Code of Conduct, Anti-Bribery Management
and Local Community Engagement, Gifts & Entertainment and System (ABMS), and Anti-Money Laundering (AML) – into vendor
Government Hosting, Intellectual Property Rights, Artificial and contractor relationships. Since 2024, MedcoEnergi expanded
Intelligence and Ethical Technology Use. Four (4) new items were its compliance efforts by updating contract terms to include human
also introduced: Working Remote and Technology, Sustainability, rights and sustainability clauses, conducting due diligence on high-risk
Climate Change and Energy Transition, Mental Health and suppliers, and requiring Contractor Statement of Ethical Compliance
Wellbeing, and International Trade Regulation. (CSEC) from vendors’ top management. In 2025, we received 87%
CSEC from our vendors’ top management.
Communication, Education, and Assurance
The programme also emphasises proactive education and engagement
All employees, as well as members of the BOC and BOD, and
through Vendor Day events, compliance newsletters, and training
related stakeholders, are expected to understand, uphold, and
sessions in Indonesia, Thailand, and Oman. MedcoEnergi strengthened
implement the Code of Conduct to promote good corporate
its surveillance and audit mechanisms, completing 22 vendor audits
governance across MedcoEnergi.
engaged in logistics and inspection focused on anti-bribery, contract
Throughout 2025, the Company reinforced adherence to the compliance, and internal controls. Conflict of Interest declarations were
Code of Conduct through the annual Statement of Adherence for extended to over 4,114 contract service workers, and whistleblowing
all employees, ethical compliance declarations from vendors’ systems were aligned with ISO 37002:2021 standards to ensure
top management, and conflict of interest declarations for all transparency and protection. These initiatives reflect MedcoEnergi’s
employees and service contractor personnel across all assets commitment to maintaining a responsible supply chain, mitigating
of Corridor, Onshore, and Offshore. third-party risks, and aligning with international best practices in
corporate governance and sustainability.
Communication and education initiatives in 2025 included:
• Empowering Ethics Liaison Officers (ELO) in Corporate and E&P, Employees and Management
including international assets, with 90 personnel, and Compliance Shares Ownership Programme
Champions in Power, with 24 personnel, to foster an ethical culture
and facilitate the socialisation of the Code of Conduct. MedcoEnergi has implemented share ownership programmes for
• Internal media campaigns through 15 published e-newsletters on both employees (ESAP) and management (MSAP). Launched in
topics such as anti-corruption, compliance, anti-money laundering, 2017 with shareholders approval, these programmes are designed
anti-bribery, workplace investigations, sanction compliance, to encourage employee retention and foster a shared sense
collective actions in combat corruption, and integrity. of ownership.
• Classroom and online training sessions covering business ethics,
respectful workplace practices, anti-bribery, data privacy, induction Insider Trading and Blackout Period Policies
programmes for new hires, and lessons learned from audit activities. MedcoEnergi is committed to preventing and mitigating insider
• Targeted workshops at onshore and offshore assets, mid-year and trading. Under the Code of Conduct, members of MedcoEnergi’s
opening coordination sessions for ELOs, compliance champion BOC and BOD, employees, and affiliated parties are prohibited
workshops, and field compliance risk sessions. from trading the Company’s shares or other securities during
blackout or restriction periods if they have access to non-public
These efforts demonstrate MedcoEnergi’s prevention strategy and material information about the Company.
commitment to consistently promoting awareness, understanding,
and enforcement of the Code of Conduct among internal and This commitment is further reinforced through the Insider
external stakeholders across the organisation. Trading Policy and a Blackout Period Policy, which set out
specific restrictions and control, including prohibition on trading
Strengthening Supplier Partnerships: of securities during defined blackout periods for individuals
MedcoEnergi Code of Supplier with access to non-public material information.
To reinforce its commitment to ethical and sustainable business
2025 Programme Highlights
practices, MedcoEnergi implemented the MedcoEnergi Code of
Supplier on December 22, 2022. As part of the Code of Conduct For the 2025 ESAP, MedcoEnergi allocated a maximum of
benchmarking and enhancement initiative conducted in 2025, 16,663,500 shares to be granted to 170 selected employees.
we reviewed and refined the Code of Supplier to further clarify The shares will vest in 2026, 2027 and 2028.
expectations for all vendors, including suppliers of services,
equipment, materials, and other goods, along with agents, In 2025, MedcoEnergi transferred the third tranche of shares
consultants, contractors, subcontractors, and consortiums, vesting from the 2022 ESAP, the second tranche vesting from
to align with our standards. Adherence to this code is essential the 2023 ESAP and the first tranche vesting from the 2024 ESAP.
for business continuity and building stakeholder trust. A total of 21,916,700 shares were awarded to the 2022, 2023
and 2024 ESAP recipients.
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2025 Management Business Company Corporate
114 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
The Company continued awarding shares through MSA programme Directors of subsidiaries. In total, the Company transferred 81,229,980
to non-independent members of the BOC, members of BOD, shares to ESAP and MSAP recipients using the remaining treasury
Senior Management, and members of Directors of subsidiaries shares resulting from the share buyback programmes in 2024 and 2025.
as part of the 2024 Performance Incentive in 2025. The AGMS
on June 3, 2025, approved the award of 49,563,350 shares to To fulfil future ESAP and MSAP requirements in 2025 and 2026,
non-independent members of the BOC and the members of BOD. the Company completed the share buyback programme approved at
Additionally, the BOD Resolutions dated June 13, 2025 approved the 2024 AGMS. A total of 100,000,000 shares were purchased
the award of 9,749,930 shares in the form of MSAP to the from October 2024 to end of March 2025. As of 31 December 2025,
Company’s Senior Management and Directors of subsidiaries. the Company recorded 57,518,408 shares as the remaining treasury
shares available for future distribution. This balance is sufficient to
Following the approval at the AGMS on June 3 2025, a total of meet the third tranche vesting under the 2023 ESAP, the second
49,563,350 shares were awarded to members of the Non-Independent tranche vesting under the 2024 ESAP, and the first tranche vesting
BOC and BOD in June and December 2025. The Company also awarded under the 2025 ESAP in 2026, as well as the 2025 Performance
9,749,930 shares to a Senior Vice President of the Company and Incentive MSAP. However, to fulfil ESAP and MSAP commitments
from 2026 onward, more shares shall be purchased in 2026.
Terms and Conditions of the ESAP and MSAP
ESAP MSAP
Eligibility Employees of MedcoEnergi and wholly-owned subsidiaries, Non-independent Commissioners and Directors of
or employees seconded under certain criteria to subsidiaries MedcoEnergi, Directors of wholly owned or majority-owned
or affiliates of the Company. subsidiaries, representative Directors at the Company’s
affiliates, and selected senior management of the Company.
Share Base An equivalent number of the actual shares of the Company An equivalent number of the actual shares of the Company
for ESAP stock. Upon meeting vesting criteria, the ESAP will be stock. Upon meeting the vesting criteria, the MSAP will be
and MSAP converted into shares of Company stock. converted into actual shares of the Company Stock.
Vesting Over a three-year period with the following schedule: a. Retention Programme: The shares will vest at the end of
Period 30% after one year, 30% after two years and 40% after a specified period;
three years. b. Performance Incentive Bonus: No vesting period.
Share The shares to be awarded via the ESAP will remain a. Retention Programme: The shares to be awarded will be
Ownership with MedcoEnergi until vesting. Upon vesting, shares are converted into shares by transferring the equivalent number
transferred to individual employee’s account and become of MedcoEnergi’s actual shares to eligible recipients;
fully owned by the employee. b. Performance Incentive Bonus: The shares to be awarded
will be converted into shares by transferring the equivalent
number of the Company’s actual shares to eligible
recipients on the effective granting date.
Voting and No voting or dividend rights before vesting. After vesting, Retention Programme and Performance Incentive Bonus: Upon
Dividend the shares will be fully owned by the employee and will have transfer, the shares will be fully owned by the employees and
Rights voting rights and rights to dividends when declared. will carry voting and dividends rights, subject to declaration.
Tax Any income tax liability generated by the share award will be Any income tax liability generated by the share award will be
paid by the employee. paid by the recipient.
Other Other terms and conditions with regards to eligibility factors Other terms and conditions may apply for specific Retention
and/or events which may need to be taken into consideration Programme MSAPs.
are stated in a separate policy issued by the Human
Resources and General Services Sub Directorate.
ESAP and MSAP Distribution
Description Number of Shares
Treasury shares balance at January 1, 2025 71,453,088
ESAP 2022 third tranche, 2023 second tranche, 2024 first tranche 21,921,400
MSAP Senior Management & BOD subsidiaries 9,749,930
MSAP non-independent Commissioners and BOD 49,563,350
Total awards 81,234,680
Treasury shares acquired in 2025 67,300,000
Treasury shares balance on December 31, 2025 57,518,408
Page 117
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 115
Disclosure of Share Ownership by BOC and BOD This achievement strengthens our governance framework and
enhances our ability to prevent, detect, and respond to risks of bribery,
Members of the BOC and BOD are obliged by the Code of Conduct
corruption and fraud. Annually, the ABMS certification body (external
to disclose any purchase and ownership of MedcoEnergi shares.
party) conducts regular audit across all ten (10) assets and one (1)
To comply with POJK No. 4 of 2024 on Reports on Ownership of or
business process. The selected disclosures of GRI indicators in 2025
Any Changes in Shares Ownership in Public Companies and Reports
Sustainability Report, including GRI 205: Anti-Corruption, have been
on Pledge over Public Company Shares, the Company requires each
assured by an independent external party.
member of the BOC and BOD to regularly update their share
ownership information. Anti-Corruption and Anti-Bribery Training and Socialisation
In 2025, members of the BOC and BOD reported changes in their MedcoEnergi is committed to preventing corruption and bribery
MedcoEnergi share ownership in January, June, July, August, by actively engaging all employees through regular training and
September, and December. All disclosures were reported to the awareness programmes. These efforts ensure that everyone
OJK within the required timeframe. understands and upholds the Company’s anti-corruption and
bribery standards.
Anti-Corruption
In 2025, MedcoEnergi implemented several initiatives to
Corporate Anti-Corruption Policy strengthen anti-corruption and bribery awareness and compliance:
MedcoEnergi demonstrates its commitment to its anti-corruption
GRI 205-1.2.4
and bribery policy through the Code of Conduct, which applies to
Developed an anti-corruption training and communication
all operations. The Company requires its business partners, such as
programme that is tailored to risk exposure and specific job
suppliers of services, equipment, materials and other goods, agents,
functions. Training materials are differentiated for governance body
consultants, contractors, subcontractors, buyers and companies
members, employees, contractors, and business partners,
with whom we partner on a joint venture, consortium or other basis,
emphasising real-life scenarios and sector-specific corruption risks.
to comply with the prevailing regulation and policy on corruption.
Individuals or groups identified as high-risk – such as procurement,
Framework project management, and government relations – received
enhanced and scenario-based training. The Company also conducts
MedcoEnergi’s anti-corruption framework is built on GRI 205: regular communication campaigns, workshops, and learning
Anti-Corruption and the ISO 37001:2016 Anti-Bribery Management sessions to reinforce ethical conduct, promote the whistleblowing
System (ABMS), which is designed to detect, prevent, and system, and strengthen understanding of anti-bribery obligations in
respond to bribery and corruption. Since adopting ISO 37001:2016 accordance with ISO 37001 standards.
in 2018, the Company has continuously enhanced its effectiveness.
We have integrated the framework into our governance structure, GRI 205-1.2.5
policies, and operational procedures, aligning it with the Company’s Delivered anti-corruption training at key stages of engagement and
Code of Conduct and ethical values. Key measures include regular on a recurring basis to ensure continued awareness and compliance.
corruption risk assessments, internal audits, mandatory training All new employees received anti-corruption orientation during the
for all organisational levels, and a secure whistleblowing mechanism onboarding process, while existing staff participated in mandatory
to ensure confidentiality and integrity of reports. Our approach annual refresher training. Business partners, including vendors and
is guided by global best practices and the principles outlined in contractors, are required to undergo integrity briefings prior to formal
ISO 37001:2016 and GRI 205, reinforcing our commitment engagement and may be subject to periodic follow-up sessions
to transparency, accountability, and ethical business conduct. based on risk assessments. The training programme’s effectiveness
is evaluated annually, with results reported to the A&IC function and
Certifications and Assurance the Board of Directors as part of the Company’s ethical compliance
The ISO 37001:2016 ABMS has been implemented and performance monitoring.
certified across ten (10) assets and one (1) business process.
Please refer to the Sustainability Report (Anti-Corruption Collective
Details of our ISO 37001:2016 ABMS journey are available at the
Actions) for details on anti-corruption initiatives.
MedcoEnergi Website.
ISO 37001:2016 ABMS Implementation Journey
2019 2020 2021 2022 2023 2024
South Natuna Procure-to-Pay (P2P) MPI subsidiaries Medco Bualuang Corridor Medco Oman and
Sea Block B, in Oil & Gas Domestic (MEI/DEB,ELB, TJBPS) Riau IPP/Medco
1st certified PSC and Medco Power and JOB Tomori Ratch Power Riau
in Indonesia Head Office, (MRPR)
1st awarded to power
companies in Indonesia
Page 118
2025 Management Business Company Corporate
116 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Governance
Whistleblowing System policies. MedcoEnergi enforces a zero-tolerance policy for any
kind of retaliation and takes all claims of retaliation seriously;
Reporting Mechanism substantiated cases may result in disciplinary action up to and
MedcoEnergi has established whistleblowing channels for, both including dismissal or termination.
internal (Internal Ethics Hotline) and external (External Ethics Hotline)
By safeguarding the whistleblower’s identity and providing a
stakeholders, enabling anonymous reporting of potential violations
transparent follow-up process, the Company ensures protection
and misconduct in good faith. In place since 2008, the system
for individuals who report concerns in good faith regarding integrity
strengthens the implementation of GCG principles and internal
or compliance at MedcoEnergi.
control systems, and is guided by the GCG Implementation
Guidelines and the Code of Conduct. Whistleblowing Management System
Since 2010, Deloitte has managed MedcoEnergi’s whistleblower MedcoEnergi continues to enhance its whistleblowing infrastructure
system to ensure independence. Whistleblowing is reserved for to strengthen transparency and accountability. The Company is
matters such as fraud, corruption, breaches of the Code of Conduct adopting the ISO 37002:2021 Whistleblowing Management System,
and other policies, conflicts of interest, financial statement fraud, providing comprehensive guidance on implementing, managing, and
bribery, misconduct and any other unethical behaviour. improving our reporting channels. Implementation activities in 2025
included developing umbrella policies related to the Whistleblowing
Deloitte screens and categorises each report, may request additional Policy, the Whistleblowing Management System Manual, and
information or supporting documents from the whistleblower, and Investigative Examination Procedures.
then submits reports to the Company’s President Commissioner,
President Director and Head of Corporate Audit & Integrity Incident Disclosures
Compliance for investigation and necessary follow-up actions.
MedcoEnergi is committed to fostering a culture of integrity and
To improve accessibility, MedcoEnergi has expanded its ethical conduct across all levels of the organisation. In 2025, the
whistleblower system to include website and telephone reporting Company concluded 53 fraud investigations out of 86 alleged
in both Indonesian and English, WhatsApp Messenger, and violations, substantiating 25 fraud incidents involving issues such
multilingual support in Thai, Arabic, and Mandarin. Reports may be as extortion, theft, embezzlement, counterfeiting, illegal gratuities,
submitted via the MedcoEnergi website, www.medcoenergi.com, gift and entertainment, relationship with supplier, undeclared
or through Deloitte Indonesia as an independent external reporting outside work, cost markup, and abuse of subcontracting.
channel at https://idn.deloitte-halo.com/lapor-medcoenergi/.
In 2025, appropriate disciplinary actions were taken against 52
Protection for Whistleblowers employees, contractors, and business partners, with 29 sanctions
related to fraud incidents and 23 to business ethics incidents.
All reports are treated with confidentiality, thoroughly investigated, Sanctions ranged from verbal warnings and reprimands to written
and validated in accordance with applicable laws and Company warnings and terminations, depending on the severity of the offence.
External Ethics Hotline
(managed by appointed independent party)
Indonesia Mandarin
Phone Phone
0800-150-3020 0800-150-3020
Text Messages (SMS) & WhatsApp Messenger Text Messages (SMS) & WhatsApp Messenger
(+62) 8138 870 3300 (+62) 8138 870 3300
Thai Arabic
Phone Phone
1800-010-316 8007-4565
Text Messages (SMS) Text Messages (SMS)
(+66) 65986 1887 (+27) 72 014 4445
WhatsApp Messenger WhatsApp Messenger
(+62) 8138 870 3300 (+62) 8138 870 3300
Direct website: https://idn.deloitte-halo.com/lapor-medcoenergi/ | Email: lapor-medcoenergi@tipoffs.com.sg
Page 119
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 117
Board of Commissioners & Board of Directors Statement
Regarding the Responsibilities towards the 2025 Annual Report PT Medco Energi Internasional Tbk.
We, the undersigned, being the members of the Board of Commissioners and Board of Directors of The Company, hereby, declare that we
are fully responsible for preparation and presentation of the 2025 Annual Report and 2025 Financial Statements. All information in the 2025
Annual Report and 2025 Financial Statements have been fully and accurately disclosed and the Reports do not contain false information or
omitted information or material facts.
In witness whereof, the undersigned have drawn up this statement truthfully.
Jakarta, April 30, 2026
Prepared by:
Hilmi Panigoro Roberto Lorato
President Director Director & Chief Executive Officer
Anthony R. Mathias Ronald Gunawan Amri Siahaan
Director & Chief Financial Officer Director & Chief Operating Officer Director & Chief Administrative Officer
Approved by:
Yani Y. Panigoro
President Commissioner
Marsillam Simandjuntak Yaser R. A. Panigoro
Independent Commissioner Commissioner
Page 120
2025 Management Business Company Corporate
118 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Attachments
Page 121
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 119
120 Share Performance
121 Shareholding Composition
122 Outstanding Securities
128 Corporate Data
129 Company Offices and
Supporting Institutions
130 Company Structure
132 Organisation Structure
133 Ultimate Beneficiary
Owner Structure
134 List of Abbreviations
137 Cross Reference to
OJK Requirements
150 Financial Statements
Page 122
2025 Management Business Company Corporate
120 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Share
Performance
Number of Shares Outstanding
Years Q1 Q2 Q3 Q4
2025 25,136,231,252 25,136,231,252 25,136,231,252 25,136,231,252
2024 25,136,231,252 25,136,231,252 25,136,231,252 25,136,231,252
2023 25,136,231,252 25,136,231,252 25,136,231,252 25,136,231,252
2022 25,136,231,252 25,136,231,252 25,136,231,252 25,136,231,252
2021 25,136,231,252 25,136,231,252 25,136,231,252 25,136,231,252
2020 17,920,454,106 17,920,454,272 25,062,414,682 25,136,231,252
2019 17,839,338,081 17,839,350,245 17,844,051,544 17,916,081,914
2018 17,728,923,467 17,728,923,467 17,794,313,493 17,829,347,601
Stock Price – IDR per share
Q1 Q2 Q3 Q4
Years
High Low Close High Low Close High Low Close High Low Close
2025 1,235 900 1,025 1,540 875 1,245 1,400 1,100 1,370 1,750 1,215 1,345
2024 1,520 1,105 1,430 1,635 1,205 1,335 1,405 1,175 1,265 1,460 1,015 1,100
2023 1,430 855 1,010 1,115 840 890 1,705 880 1,610 1,600 980 1,155
2022 570 545 555 660 630 635 925 865 915 1,030 1,010 1,015
2021 590 555 570 650 635 640 560 530 550 478 464 466
2020 339 322 327 393 383 383 358 336 338 630 590 590
2019 1,025 720 890 910 745 810 875 720 690 950 630 865
2018 1,575 890 1,210 1,300 965 965 1,075 745 1,000 1,025 620 685
Market Capitalisation (IDR billion)
Years Q1 Q2 Q3 Q4
2025 25,765 31,295 34,437 33,808
2024 35,945 33,557 31,797 27,650
2023 25,387 22,371 40,469 29,032
2022 13,951 15,962 23,000 25,513
2021 14,328 16,087 13,825 11,713
2020 6,917 8,100 8,471 14,830
2019 15,877 14,450 12,312 15,497
2018 21,452 17,108 17,794 12,213
Trading Volume Share
Years Q1 Q2 Q3 Q4
2025 1,720,373,100 3,369,469,300 2,327,145,900 3,146,314,600
2024 3,868,450,900 2,721,209,800 2,597,403,800 3,035,058,000
2023 4,716,983,885 3,725,812,343 8,449,413,660 8,185,177,754
2022 6,007,759,384 5,253,136,126 8,894,128,300 4,035,586,131
2021 6,681,771,328 3,209,133,708 4,731,090,404 3,444,119,092
2020 3,686,528,675 4,975,106,870 8,255,507,540 8,940,846,664
2019 2,514,532,104 994,398,900 1,254,670,304 2,441,557,976
2018 4,362,092,320 1,865,615,204 2,473,777,688 2,101,325,604
Page 123
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 121
Shareholding
Composition
Historical Listings
Corporate Action Date Ratio Number of Outstanding Shares Par Value
Series I Warrants 31 December 2020 1:1 25,136,231,252 25
Rights Issue 14 September 2020 5:2 25,062,414,682 25
Rights Issue 14 December 2017 3:1 17,728,923,467 25
Stock Split 14 September 2017 4:1 13,329,805,800 25
Stock Split 2 June 2000 1:5 3,332,451,450 100
Rights Issue 2 December 1999 10:11 666,490,290 500
Stock Split 18 August 1998 1:2 344,760,000 500
Bonus Shares 18 July 1996 10:7 172,380,000 1,000
IPO 12 October 1994 – 101,400,000 1,000
Shareholder List – More than 5% Ownership as of 31 December 2025
Shareholders Shares Percentage
PT Medco Daya Abadi Lestari 12,944,140,124 51.50%
Diamond Bridge Pte. Ltd. 5,395,205,771 21.46%
Total 18,339,345,895 72.96%
Public Shareholder List – Below 5% Ownership as of 31 December 2025
Shareholder Category Number Shareholders Shares Percentage
Foreign Institutions 212 2,762,862,590 10.99%
Individuals 38,042 1,472,356,034 5.86%
Mutual Funds 139 372,313,970 1.48%
Local Institutions 142 1,566,269,272 6.23%
Insurance Companies 149 491,119,728 1.95%
Pension Funds 48 103,850,966 0.41%
Foundations 13 27,205,897 0.11%
Cooperatives 4 906,900 0.00%
Total 38,749 6,796,885,357 27.04%
Members of the Board of Commissioners and members of the Board of Directors who own shares of the Company as of
31 December 2025
Shares Percentage
Commissioner
1. Yani Yuhani Panigoro (Commissioner) 11,195,706 0.04%
2. Yaser Raimi A. Panigoro (Commissioner) 3,528,813 0.01%
Directors
1. Hilmi Panigoro (President Director) 36,528,083 0.15%
2. Roberto Lorato (CEO) 174,528,380 0.69%
3. Anthony R. Mathias (CFO) 29,426,182 0.12%
4. Ronald Gunawan (COO) 66,201,072 0.26%
5. Amri Siahaan (CAO) 43,219,619 0.17%
Page 124
2025 Management Business Company Corporate
122 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Outstanding
Securities
MedcoEnergi Bonds
Currency: IDR
Indonesia Stock Exchange
2021 2022 2023 2024 2025
Shelf Registered Public Offering Rupiah Bond III Phase III Year 2020 Tranche B with Interest Rate of 9.30% due on 20 February 2025
Bond rating A+ (Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 476,300,000,000 476,300,000,000 476,300,000,000 476,300,000,000
Unamortised discounts (1,576,615,487) (1,231,203,165) (626,393,106) (82,158,523) PAID
Total Outstanding 474,723,384,513 475,068,796,835 475,673,606,894 476,217,841,477
Total Interest expense 44,295,900,000 44,295,900,000 44,295,900,000 44,295,900,000
Shelf Registered Public Offering Rupiah Bond IV Phase I Year 2021 Tranche B with Interest Rate of 8.50% due on 9 September 2026
Bond rating A+ (Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 600,000,000,000 600,000,000,000 600,000,000,000 600,000,000,000 600,000,000,000
Unamortised discounts (6,334,216,649) (5,268,958,387) (3,786,814,427) (2,548,095,219) (1,105,102,356)
Total Outstanding 593,665,783,351 594,731,041,613 596,213,185,573 597,451,904,781 598,894,897,644
Total Interest expense 16,008,333,333 51,000,000,000 51,000,000,000 51,000,000,000 51,000,000,000
Shelf Registered Public Offering Rupiah Bond IV Phase II Year 2021 Tranche B with Interest Rate of 8.50% due on 23 November 2026
Bond rating A+ (Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 58,195,000,000 58,195,000,000 58,195,000,000 58,195,000,000 58,195,000,000
Unamortised discounts (1,407,221,373) (1,035,838,985) (754,172,020) (530,216,974) (266,722,577)
Total Outstanding 56,787,778,627 57,159,161,015 57,440,827,980 57,664,783,026 57,928,277,423
Total Interest expense 522,138,472 4,946,575,000 4,946,575,000 4,946,575,000 4,946,575,000
Shelf Registered Public Offering Rupiah Bond IV Phase III Year 2022 Tranche A with Interest Rate of 7.00% due on 26 July 2025
Bond rating AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 1,892,315,000,000 1,892,315,000,000 1,892,315,000,000
Unamortised discounts (9,249,893,678) (4,906,333,710) (1,310,402,965) PAID
Total Outstanding 1,883,065,106,322 1,887,408,666,290 1,891,004,597,035
Total Interest expense 58,136,121,944 132,462,050,000 132,462,050,000
Shelf Registered Public Offering Rupiah Bond IV Phase III Year 2022 Tranche B with Interest Rate of 8.10% due on 26 July 2027
Bond rating AA-(Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 521,415,000,000 521,415,000,000 521,415,000,000 521,415,000,000
Unamortised discounts (2,548,747,598) (1,847,351,321) (1,426,156,623) (925,845,998)
Total Outstanding 518,866,252,402 519,567,648,679 519,988,843,377 520,489,154,002
Total Interest expense 18,536,303,250 42,234,615,000 42,234,615,000 42,234,615,000
Shelf Registered Public Offering Rupiah Bond IV Phase III Year 2022 Tranche C with Interest Rate of 9.00% due on 26 July 2029
Bond rating AA-(Pefindo) AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 586,270,000,000 586,270,000,000 586,270,000,000 586,270,000,000
Unamortised discounts (2,865,767,679) (2,327,559,782) (2,055,715,213) (1,712,677,782)
Total Outstanding 583,404,232,321 583,942,440,218 584,214,284,787 584,557,322,218
Total Interest expense 23,157,665,000 52,764,300,000 52,764,300,000 52,764,300,000
Page 125
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 123
Currency: IDR
Indonesia Stock Exchange
2021 2022 2023 2024 2025
Shelf Registered Public Offering Rupiah Bond V Phase I Year 2023 Tranche A with Interest Rate of 6.95% due on 7 July 2026
Bond rating AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 150,000,000,000 150,000,000,000 150,000,000,000
Unamortised discounts (1,814,518,368) (1,180,918,936) (431,681,925)
Total Outstanding 148,185,481,632 148,819,081,064 149,568,318,075
Total Interest expense 5,125,625,000 10,425,000,000 10,425,000,000
Shelf Registered Public Offering Rupiah Bond V Phase I Year 2023 Tranche B with Interest Rate of 7.30% due on 7 July 2028
Bond rating AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 260,000,000,000 260,000,000,000 260,000,000,000
Unamortised discounts (3,383,877,640) (2,839,182,364) (2,169,498,119)
Total Outstanding 256,616,122,360 257,160,817,636 257,830,501,881
Total Interest expense 9,331,833,333 18,980,000,000 18,980,000,000
Shelf Registered Public Offering Rupiah Bond V Phase I Year 2023 Tranche C with Interest Rate of 8.15% due on 7 July 2030
Bond rating AA-(Pefindo) AA-(Pefindo) AA-(Pefindo)
Total 590,000,000,000 590,000,000,000 590,000,000,000
Unamortised discounts (7,923,979,000) (7,248,453,327) (6,353,727,399)
Total Outstanding 582,076,021,000 582,751,546,673 583,646,272,601
Total Interest expense 23,641,791,667 48,085,000,000 48,085,000,000
Shelf Registered Public Offering Rupiah Bond V Phase II Year 2024 Tranche A with Interest Rate of 7.35% due on 13 February 2027
Bond rating AA-(Pefindo) AA-(Pefindo)
Total 208,855,000,000 208,855,000,000
Unamortised discounts (636,580,535) (442,993,679)
Total Outstanding 208,218,419,465 208,412,006,321
Total Interest expense 13,730,475,792 15,350,842,500
Shelf Registered Public Offering Rupiah Bond V Phase II Year 2024 Tranche B with Interest Rate of 7.90% due on 13 February 2029
Bond rating AA-(Pefindo) AA-(Pefindo)
Total 427,955,000,000 427,955,000,000
Unamortised discounts (1,444,689,842) (1,226,839,496)
Total Outstanding 426,510,310,158 426,728,160,504
Total Interest expense 30,239,775,806 33,808,445,000
Shelf Registered Public Offering Rupiah Bond V Phase II Year 2024 Tranche C with Interest Rate of 8.50% due on 13 February 2031
Bond rating AA-(Pefindo) AA-(Pefindo)
Total 863,190,000,000 863,190,000,000
Unamortised discounts (830,293,460) (2,781,385,742)
Total Outstanding 862,359,706,540 860,408,614,258
Total Interest expense 65,626,417,500 73,371,150,000
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2025 Management Business Company Corporate
124 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Outstanding
Securities
Currency: IDR
Indonesia Stock Exchange
2021 2022 2023 2024 2025
Shelf Registered Public Offering Rupiah Bond V Phase III Year 2025 Tranche A with Interest Rate of 7.75% due on 7 January 2030
Bond rating AA-(Pefindo)
Total 1,675,000,000,000
Unamortised discounts (5,017,282,079)
Total Outstanding 1,669,982,717,921
Total Interest expense 127,648,958,333
Shelf Registered Public Offering Rupiah Bond V Phase III Year 2025 Tranche B with Interest Rate of 8.25% due on 7 January 2032
Bond rating AA-(Pefindo)
Total 825,000,000,000
Unamortised discounts (2,641,954,126)
Total Outstanding 822,358,045,874
Total Interest expense 66,928,125,000
Shelf Registered Public Offering Rupiah Bond VI Phase I Year 2025 Tranche A with Interest Rate of 7.75% due on 25 June 2032
Bond rating AA-(Pefindo)
Total 500,000,000,000
Unamortised discounts (1,683,669,520)
Total Outstanding 498,316,330,480
Total Interest expense 20,128,472,222
Shelf Registered Public Offering Rupiah Bond VI Phase I Year 2025 Tranche B with Interest Rate of 8.25% due on 25 June 2035
Bond rating AA-(Pefindo)
Total 500,000,000,000
Unamortised discounts (1,723,197,965)
Total Outstanding 498,276,802,035
Total Interest expense 21,427,083,333
As of December 31, 2025, the proceeds
Utilisation of Public Offering Proceeds
from Bond V Phase III have been fully utilised
to refinance IDR bonds maturing in 2025 and Bond Issuance Net Proceeds (Rp bn) Utilise (Rp bn) Remaining (Rp bn)
to repurchase USD senior notes. Proceeds
from Bond VI Phase I are earmarked for Bond V Phase III 2,488 2,488 –
refinancing bonds maturing in 2026 and the Bond VI Phase I 990 – 990
redemption of 2028 bonds in accordance
with the respective prospectuses. A summary Total 3,478 2,488 990
of use of proceeds is presented in the
accompanying table on the right.
Page 127
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 125
Currency: US$
Singapore Stock Exchange (SGX)
2021 2022 2023 2024 2025
US$144a SGX listed bond, coupon 7.375%. Issued in 2019, maturing 14 May 2026
B1 (Moody’s)/B+ B1 (Moody’s)/B+ B1 (Moody’s)/B+ B1 (Moody’s)/BB- Ba3 (Moody’s)/BB-
Bond rating
(S&P)/B+ (Fitch) (S&P)/B+ (Fitch) (S&P)/B+ (Fitch) (S&P)/BB- (Fitch) (S&P)/BB- (Fitch)
Total 650,000,000 533,606,000 473,758,000 242,319,000 91,724,000
Buyback – 116,394,000 176,242,000 407,681,000 558,276,000
Unamortised discounts (11,862,173) (6,983,649) (5,037,353) (1,190,693) (160,721)
Total Outstanding 638,137,827 526,622,351 468,720,647 241,128,307 91,563,279
Total Interest expense 47,937,500 42,975,117 39,218,276 26,688,834 11,639,112
US$144a SGX listed bond, coupon 6.375%. Issued in 2020, maturing 30 January 2027
B1 (Moody’s)/B+ B1 (Moody’s)/B+ B1 (Moody’s)/B+ B1 (Moody’s)/BB- Ba3 (Moody’s)/BB-
Bond rating
(S&P)/B+ (Fitch) (S&P)/B+ (Fitch) (S&P)/B+ (Fitch) (S&P)/BB- (Fitch) (S&P)/BB- (Fitch)
Total 650,000,000 590,095,000 508,397,000 435,283,000 107,774,000
Buyback – 59,905,000 141,603,000 216,687,000 542,226,000
Unamortised discounts (20,915,321) (16,216,889) (11,035,005) (7,544,600) (849,252)
Total Outstanding 629,084,679 573,878,111 497,361,995 427,738,400 106,924,748
Total Interest expense 41,437,500 39,242,120 36,610,960 30,900,574 15,713,383
US$144a SGX listed bond, coupon 6.95%. Issued in 2021, maturing 12 November 2028
B1 (Moody’s)/B+ B1 (Moody’s)/B+ B1 (Moody’s)/B+ B1 (Moody’s)/BB- Ba3 (Moody’s)/BB-
Bond rating
(S&P)/B+ (Fitch) (S&P)/B+ (Fitch) (S&P)/B+ (Fitch) (S&P)/BB- (Fitch) (S&P)/BB- (Fitch)
Total 400,000,000 384,800,000 299,417,000 299,417,000 261,006,000
Buyback – 15,200,000 100,583,000 100,583,000 138,994,000
Unamortised discounts (18,679,223) (17,548,405) (10,466,659) (8,747,262) (5,859,024)
Total Outstanding 381,320,777 367,251,595 288,950,341 290,669,738 255,146,976
Total Interest expense 3,706,667 27,721,697 25,990,023 20,809,482 19,877,251
US$144a SGX listed bond, coupon 8.96%. Issued in 2023, maturing 27 April 2029
B1 (Moody’s)/B+ B1 (Moody’s)/BB- Ba3 (Moody’s)/BB-
Bond rating
(S&P)/B+ (Fitch) (S&P)/BB- (Fitch) (S&P)/BB- (Fitch)
Total 500,000,000 500,000,000 482,000,000
Buyback – – 18,000,000
Unamortised discounts (19,736,601) (17,147,296) (13,500,044)
Total Outstanding 480,263,399 482,852,704 468,499,956
Total Interest expense 7,964,444 44,675,556 43,904,000
US$144a SGX listed bond, coupon 8.625%. Issued in 2025, maturing 19 May 2030
Ba3 (Moody’s)/BB-
Bond rating
(S&P)/BB- (Fitch)
Total 400,000,000
Buyback –
Unamortised discounts (14,492,212)
Total Outstanding 385,507,788
Total Interest expense 21,179,167
Page 128
2025 Management Business Company Corporate
126 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Outstanding
Securities
Medco Power Indonesia Bonds
Currency: IDR
Indonesia Stock Exchange (IDX)
2021 2022 2023 2024 2025
Shelf Registered Public Offering Rupiah Bond I Year 2018 Tranche C with Interest Rate of 10.75% due on 4 July 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 258,000,000,000 258,000,000,000 258,000,000,000 258,000,000,000
Unamortised discounts (2,068,528,110) (1,570,501,721) (1,014,724,014) (394,498,125) PAID
Total Outstanding 255,931,471,890 256,429,498,279 256,985,275,986 257,605,501,875
Total Interest expense 27,735,000,000 27,735,000,000 27,735,000,000 27,735,000,000
Rupiah Sukuk Wakalah I Year 2018 Tranche C with Interest Rate of 10.75% due on 4 July 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 43,000,000,000 43,000,000,000 43,000,000,000 43,000,000,000
Unamortised discounts (344,754,685) (261,750,287) (169,120,669) (65,749,688) PAID
Total Outstanding 42,655,245,315 42,738,249,713 42,830,879,331 42,934,250,312
Total Interest expense 4,622,500,000 4,622,500,000 4,622,500,000 4,622,500,000
Rupiah Sukuk Wakalah II Year 2019 Tranche C with Interest Rate of 11.1% due on 23 May 2026
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000
Unamortised discounts (260,086,518) (212,443,649) (158,845,109) (98,546,401) (30,709,958)
Total Outstanding 10,039,913,482 10,087,556,351 10,141,154,891 10,201,453,599 10,269,290,042
Total Interest expense 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche A with Interest Rate 8.00% due on 4 August 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 280,000,000,000 280,000,000,000 280,000,000,000
Unamortised discounts (2,336,465,132) (1,491,143,000) (572,377,808) PAID
Total Outstanding 277,663,534,868 278,508,857,000 279,427,622,192
Total Interest expense 9,271,111,111 22,400,000,000 22,400,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche B with Interest Rate 9.25% due on 4 August 2027
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 220,000,000,000 220,000,000,000 220,000,000,000 220,000,000,000
Unamortised discounts (3,267,703,236) (2,685,235,664) (2,044,028,099) (1,338,156,799)
Total Outstanding 216,732,296,764 217,314,764,336 217,955,971,901 218,661,843,201
Total Interest expense 8,422,638,889 20,350,000,000 20,350,000,000 20,350,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche A with Interest Rate 9.00% due on 30 December 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 469,690,000,000 469,690,000,000 469,690,000,000
Unamortised discounts (1,917,509,425) (1,992,861,024) (1,042,223,123) PAID
Total Outstanding 467,772,490,575 467,697,138,976 468,647,776,877
Total Interest expense 117,422,500 42,272,100,000 42,272,100,000
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche B with Interest Rate 9.50% due on 30 December 2027
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 130,310,000,000 130,310,000,000 130,310,000,000 130,310,000,000
Unamortised discounts (531,990,575) (1,111,159,395) (878,325,660) (621,738,000)
Total Outstanding 129,778,009,425 129,198,840,605 129,431,674,340 129,688,262,000
Total Interest expense 34,387,361 12,379,450,000 12,379,450,000 12,379,450,000
Page 129
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 127
2021 2022 2023 2024 2025
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche A with Interest Rate 8.55% due on 18 January 2027
Bond rating A (Pefindo) A (Pefindo)
Total 175,995,000,000 175,995,000,000
Unamortised discounts (590,672,159) (320,477,920)
Total Outstanding 175,404,327,841 175,674,522,080
Total Interest expense 13,793,608,125 15,047,572,500
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche B with Interest Rate 9.50% due on 18 January 2029
Bond rating A (Pefindo) A (Pefindo)
Total 494,490,000,000 494,490,000,000
Unamortised discounts (3,261,453,025) (2,577,390,764)
Total Outstanding 491,228,546,975 491,912,609,236
Total Interest expense 43,061,837,500 46,976,550,000
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche B with Interest Rate 10.00% due on 18 January 2031
Bond rating A (Pefindo) A (Pefindo)
Total 79,515,000,000 79,515,000,000
Unamortised discounts (769,724,277) (657,635,688)
Total Outstanding 78,745,275,723 78,857,364,312
Total Interest expense 7,288,875,000 7,951,500,000
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche A with Interest Rate 7.75% due on 7 February 2028
Bond rating A (Pefindo)
Total 125,035,000,000
Unamortised discounts (334,390,114)
Total Outstanding 124,700,609,886
Total Interest expense 8,801,943,021
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche B with Interest Rate 9.00% due on 7 February 2030
Bond rating A (Pefindo)
Total 816,955,000,000
Unamortised discounts (4,299,801,226)
Total Outstanding 812,655,198,774
Total Interest expense 66,786,071,250
Rupiah Shelf Registered Sukuk Wakalah I Phase IV Year 2025 Tranche C with Interest Rate 9.50% due on 7 February 2032
Bond rating A (Pefindo)
Total 208,010,000,000
Unamortised discounts (1,606,971,570)
Total Outstanding 206,403,028,430
Total Interest expense 17,949,529,583
Rupiah Shelf Registered Bonds I Phase I Year 2025 Tranche A with Interest Rate 8.75% due on 1 July 2030
Bond rating A (Pefindo)
Total 300,000,000,000
Unamortised discounts (3,334,963,464)
Total Outstanding 296,665,036,536
Total Interest expense 13,343,750,000
Rupiah Shelf Registered Bonds I Phase I Year 2025 Tranche B with Interest Rate 9.25% due on 1 July 2032
Bond rating A (Pefindo)
Total 200,000,000,000
Unamortised discounts (3,212,659,869)
Total Outstanding 196,787,340,131
Total Interest expense 9,404,166,667
Page 130
2025 Management Business Company Corporate
128 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Corporate
Data
Company Name PT Medco Energi Internasional Tbk
PT Medco Energi Internasional Tbk (“MedcoEnergi”) is a leading Southeast Asian energy and
natural resources company listed on the Indonesia Stock Exchange (MEDC-IDX). MedcoEnergi
has three key business segments, Oil & Gas, Power, and Copper & Gold Mining. MedcoEnergi
explores for and produces oil & gas primarily in Indonesia and is expanding its presence in
Business Activity
Southeast Asia and the Middle East. The Group operates gas-fired, geothermal, Solar PV and
mini-hydro power plants in Indonesia through Medco Power and through a non-consolidated
interest in PT Amman Mineral Internasional Tbk operates a large Indonesian Copper & Gold
mine.
Date of Establishment 9 June 1980
Notarial deed No. 19 before Imas Fatimah, S.H., dated 9 June 1980. The deed of establishment
was approved by the Ministry of Justice of the Republic of Indonesia in its decision letter
Legal Basis of Establishment
No. Y.A.5/192/4 dated 7 April 1981 and was published in State Gazette No. 102, Supplement
No. 1020 dated 22 December 1981.
PT Medco Daya Abadi Lestari: 51.50%
Share Ownership Diamond Bridge Pte. Ltd. : 21.46%
Public : 27.04%
Authorised Capital 55,000,000,000 shares
Issued and Fully Paid Up Capital 25,136,231,252 shares
Listing Date 12 October 1994
• Indonesia Stock Exchange (MEDC-IDX)
Exchange • Singapore Stock Exchange (SGX, USD Bonds)
• OTCQX® Best Market (MDCOY)
Company Address The Energy Building 53rd Floor, SCBD lot 11A, Jl. Jenderal Sudirman, Jakarta 12190.
Siendy K. Wisandana
Corporate Secretary Phone : +62-21 2995 3000
E-mail : corporate.secretary@medcoenergi.com
Website www.medcoenergi.com
In compliance with OJK Regulation No.8/POJK.04/2015 regarding Public Company website.
Page 131
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 129
Company Offices and
Supporting Institutions
Company Offices Supporting Institutions
PT Medco Energi Stock Exchange Listing Rating Agencies
Internasional Tbk Bursa Efek Indonesia PT Pemeringkat Efek
The Energy Buiding 53rd Floor, SCBD Stock Exchange Building Tower 1 Indonesia (PEFINDO)
Lot 11A Jl. Jenderal Sudirman Kav. 52-53 Equity Tower 30th Floor,
Jl. Jenderal Sudirman Kav. 52-53 Jakarta 12190, Indonesia Sudirman Central Business District Lot 9
Jakarta 12190, Indonesia Tel: +62-21 0800 100 9000 Jl. Jenderal Sudirman Kav. 52-53
Jakarta 12190, Indonesia
Medco Energi Global Pte Ltd Singapore Exhange Securities
Tel: +62-21 5096 8469
12 Marina Boulevard, #18-01A, Trading Limited
Marina Bay Financial Centre Tower 3, 11 North Buona Vista Drive, #06-07 Moody’s Investors Service
Singapore 018982 The Metropolis Tower 2 Singapore Pte. Ltd.
Singapore 138589 71 Robinson Road
Medco Energi Thailand Tel: +65 6236 8888 #05-01/02
Q House Lumpini, Singapore 068895
Building 28th Floor, Unit 2802 Share Registrar Tel: +65 6398 8300
No.1 South Sathorn Road, Sathorn PT Sinartama Gunita
Bangkok 10120, Thailand Fitch Ratings Singapore Pte Ltd.
Menara Tekno Lantai 7 1 Wallich Street
Medco Oman LLC Jl. Fachrudin No. 19, RT 01/RW 07 Guoco Tower #19-01
Bait Al Reem 1st Floor Building #81. Kelurahan Kampung Bali, Kecamatan Singapore 078881
Block #234, Way #3409 Tanah Abang Tel: +65 6796 7200
Ath-Thaqafah Al Wizaraath Jakarta Pusat 10250
Street Al Khuwair, Muscat Sultanate of Indonesia S&P Global Ratings
Oman 133 Oman Tel: +62-21 392 2332 (Hunting) Singapore Pte. Ltd.
Fax: +62-21 392 3003 12 Marina Boulevard #23-01
Medco Yemen Holding Marina Bay Financial Centre Tower 3
Of Faj-Attan St., Bait Salami, Indonesian Central Singapore 018982
Hadda Area
Securities Depository (KSEI) Tel: +65 6530 6401
Near Safer E&P (SEPOC)
P.O. Box 16609 PT Kustodian Sentral Efek Indonesia
Sana’a - Republic of Yemen Indonesia Stock Exchange Building
Tower I, 5th Floor
PT Medco Power Indonesia
Jl. Jenderal Sudirman Kav. 52-53
The Energy, 8th Floor, SCBD Lot 11A
Jakarta 12190, Indonesia
Jl. Jenderal Sudirman Kav. 52-53
Tel: +62-21 515 2855
Jakarta 12190, Indonesia
PT Amman Mineral Internasional Tbk Public Accounting Firm
The Energy, 28th Floor, SCBD Lot 11A Purwantono, Susanti & Surja
Jl. Jenderal Sudirman Kav. 52-53 (member of Ernst & Young Global Limited)
Jakarta 12190, Indonesia
Indonesia Stock Exchange Building
Tower II, 7th Floor
Jl. Jenderal Sudirman Kav. 52-53
Jakarta 12190, Indonesia
Tel: +62-21 5289 5000
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2025 Management Business Company Corporate
130 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Company
Structure
PT Medco E&P Indonesia PT Medco E&P Bangkanai PT Medco LNG Indonesia PT Medco Energi Nusantara PT Medco Downstream
Indonesia
PT Medco E&P Simenggaris PT Medco Energi Amanah PT Donggi Senoro LNG
PT Medco LPG Kaji
PT Medco E&P Malaka PT Medco Energi Beluga PT Exspan Petrogas
Intranusa PT Medco Ethanol Lampung
PT Medco E&P Tarakan PT Medco Energi Natuna Timur
PT Mitra Energi PT Medco Methanol Bunyu
PT Medco E&P Rimau PT Medco Energi Bangkanai Gas Sumatera
PT Medco E&P Lematang PT Medco E&P Nunukan PT Mitra Energi
Pelayaran
PT Medco E&P PT Medco E&P Lakshmi
Tomori Sulawesi PT Bangkanai LNG
Indonesia
PT Medco E&P Bengara PT Medco Energi Madura
PT Satria Raksa Buminusa
PT Medco Sampang Indonesia PT Medco Energi Nawasena
PT Transportasi Gas
Indonesia
PT Medco Energi Jwala PT Medco CBM Pendopo
PT Medco Energi Linggau
PT Api Metra Graha PT Amman Mineral PT Medco Methanol Bunyu
Internasional Tbk
PT Musi Raksa
PT Amman Mineral Buminusa
Nusa Tenggara
PT Mahakam Raksa
Buminusa
Ophir Energy Limited
Salamander Energy Limited
Ophir Jaguar 1 Limited Salamander Energy Group Limited
Ophir Jaguar 2 Limited Medco Energi Thailand Medco Energi
DOMPET Limited
(E&P) Limited Bangkanai Limited
Ophir SPV Pty Ltd. Ophir Asia Pacific Pty Ltd. Salamander Energy (Lao) Medco Energi Central Dominion Tanzania
Company Limited Kalimantan Limited Limited
Medco Energi Madura Medco Energi Sampang
Offshore Pty Ltd. Pty Ltd. Medco Energi Kerendan Medco Energi West Dominion Oil & Gas
Limited Bangkanai Limited Limited
Ophir Indonesia Ophir Energy Dominion Oil & Gas
(S.E.Sangatta) Limited* Indonesia Limited Limited (Tanzania)
Salamander Energy Medco Energi Thailand
(S.E.Asia) Limited (Bulauang) Limited
Salamander Energy
(Bualuang Holdings)
Limited
Page 133
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 131
Medco Strait Services Pte. Ltd. Medco Far East Limited PT Medco Power Internasional
Petroleum Exploration & Production Kuala Langsa (Block-A) Limited PT Medco Power Indonesia
International Limited
Medco Indonesia Holding B.V. PT Medco Kansai Power Indonesia PT Dalle Panaran
Lematang E&P Limited
Medco Lematang B.V. PT Energi Prima Elektrika PT Medco Geothermal Nusantara
Medco South China Sea Pte. Ltd.
PT Multidaya Prima Elektrindo PT Medco Power Sentral Sumatera
Medco Natuna Pte. Ltd.
Medco Oak Tree Pte. Ltd. PT Dalle Energy Batam PT Medco Ratch Power Riau
Medco E&P Natuna Ltd.
Medco Bell Pte. Ltd. PT Medco Energi Menamas PT Medcopower Servis Indonesia
Medco Singapore
Operations Pte. Ltd. Medco Maple Tree Pte. Ltd. PT Mitra Energi Batam PT Medco Power Energi Services
Medco Petroleum Services Limited Medco Cypress Tree Pte. Ltd. PT Universal Batam Energy PT Medcopower Elektrika Indonesia
Medco Laurel Tree Pte. Ltd. Medco Orchid Pte. Ltd. PT Energi Listrik Batam PT Medco Solar Pasifik
Medco Energi Global Pte. Ltd. Medco Melati Limited PT Medco General Power Services PT Medco Pasifik Solar Transmisi
MedcoEnergi Oman PT TJB Power Services PT Medco Hidro Indonesia
Block 48 Limited
PT Medco Power PT Nawakara Energi Sumpur
MedcoEnergi Oman Geothermal Services
Far East Energy Trading Pte. Ltd.
Block 60 Limited
PT Sangsaka Hidro Barat
Fortuna International PT Medco Geothermal Sarulla
Medco Yemen Malik Limited (Barbados) Inc. PT Pembangkitan Pusaka
PT Medco Geopower Sarulla Parahiangan
Medco Yemen Amed Limited Medco E&P Corridor S.A.
Sarulla Operations Ltd PT Sangsaka Agro Lestari
Medco International
Medco International Enterprise Ltd.
Ventures Limited
PT Medco Geothermal Indonesia PT Bio Jatropha Indonesia
Medco International Services Medco LLC
PT Medco Cahaya Geothermal PT Sangsaka Hidro Ciseureuh
Pte. Ltd.
Medco Arabia Ltd.
PT Medco Geothermal Sumatera PT Sangsaka Hidro Lestari
Medco E&P Sakakemang B.V.
PT Medcopower Energi Baru PT Sangsaka Hidro Selatan
Medco E&P Corridor Holding Ltd. Far East Energy Trading Pte. Ltd.
Medco E&P Grissik Ltd. PT Medcopower Surya Nusantara PT Sangsaka Hidro Kasmar
Medco Energi USA Inc.
Transasia Pipeline Company PT Medcopower Transportasi Listrik PT Sangsaka Hidro Baliase
Medco Energi US. LLC
Pvt. Ltd.
PT Medcopower Solar Sumbawa PT Sangsaka Hidro Patikala Lima
PT Medco Power Geothermal Energi PT Medco Solar Bali Barat
Medco Power Global Pte Ltd PT MedcosolarBali Timur
Pacific Medco Solar Energy Pte Ltd PT Indo Medco Power
PT TeknologiData Infrastruktur PT Muara Enim Multi Power
Dominion Petroleum Ophir Holdings Limited Ophir Holdings & Services Ophir Equatorial
Limited (UK) Limited Guinea(BlockR)Limited
Ophir East Africa Holdings Limited
Dominion Petroleum Dominion Petroleum
Acquisitions Limited Ophir East Africa Ophir Tanzania (Block 1) Kenya Limited
Ventures Limited Limited
Ophir Mexico Limited
Ophir Gas Marketing Limited Ophir Pipeline Limited
Ophir Mexico
Fahari Gas Marketing Ruvuma Pipeline Operations,
Company Limited Company Limited S.A. de C.V
Ophir LNG Limited
Active Company
Mzalendo Gas Processing
Company Limited Dormant Company
* Liquidated in 2026
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2025 Management Business Company Corporate
132 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Organisation
Structure
President Director
Hilmi Panigoro
Director & Chief Executive Officer
Roberto Lorato
Director & Chief
Director & Chief Director & Chief Financial Officer Sr. VP International Sr. VP Business MPI President Medco Energi Global
Operating Officer Administrative Officer E&P and CCUS Development Director Managing Director
Anthony
Ronald Gunawan Amri Siahaan Craig D. Stewart Sanjeev Bansal Eka Satria Emmy Teo
R. Mathias
Sr. VP MPI Director
Onshore Asset Sr. VP Business VP Shared General Manager VP
& Chief Financial
Support Service Centre Thailand New Ventures
Officer
I Nyoman
Iwan Prajogi Krista Anastasia Mustika Faizan Rahan Myrta Sri Utami
A. Sidi Mantra
Sr. Manager
Sr. VP MPI Director
VP Human Resources Corporate Planning & Country Manager
Offshore Asset Sr. Manager & Chief Operating
& General Services Investment Appraisal Oman Corporate Portfolio Officer
Ignatius Tenny Candarashmi Management
Tia N. Ardianto Ahmad Syaifudin Imron Gazali
Wibowo P. Pastika
VP E&P Finance MPI Director & Chief
Sr. VP Sr. Manager General Manager Head Legal Business
Planning and Business
Corridor Asset Corporate Tax Libya (MIVL) Development
Gita N. Development Officer
Tri Laksono Villanueva Aris Cahyadi Akram Sassi Andri Budiman Femi Sastrena
VP Technical VP Digital Information Sr. Manager
Assurance & Technology Corporate Accounting
Andreas Sutjahjo Satriyo Wicaksono Johan K. Djaja VP Corporate Head of Corporate
Legal Counsel & Sr. Manager Sustainability &
Corporate Secretary Audit & Integrity Risk Management
VP Project Compliance
VP Supply Chain Sr. Manager
Development & Siendy Firman
Management Corporate Treasury Ronny Siahaan
Eng. Excellence
K. Wisandana Dharmawan
Bayu Sari Adji Kenneth Gunawan Hasni Prihartadi
Manager Ethics Manager Corporate
VP VP Relations & Sr. Manager Senior Counsel Sustainability
Exploration Security Corporate Finance & Compliance General
Non-Capital Market
& Offshore
Agustina
Feriyanto Arif Rinaldi Reza Aldi Rico Jusuf M. Teguh Budiman Parwitosari
VP Wells Sr. Manager
Board Administration Manager Manager Corporate
Ida Bagus Capital Market Senior Counsel
Manager Ethics &
Risk Management
Office Compliance Corridor
Budiarta Capital Market
Cisca W. Alimin & Onshore Eko S. Wibowo
VP Health, Safety
& Environment Manager
General Audit Manager Corporate
Febry Climate & Energy
A. Setyawan Soesetyo Transition
Eri Perbowo
VP E&P Legal Manager Integrity
R. Iman Suseno Compliance
Widi Wijayanto
VP Commercial Manager Audit &
IC Excellence
Esther H.
General Manager
Marianto
Repsol Sakakemang
B.V.
Sr. Manager
E&P Planning
Dini S. Sunardi
Sr. Manager Non- Board of Directors
Operated Assets PT Medco Energi Internasional Tbk
Bagus Nugroho
Organisation Chart as of 31 December 2025
Page 135
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 133
Ultimate Beneficiary
Owner Structure
Yaser Raimi Arifin Maera
Panigoro Panigoro
55.2% 44.8%
PT APRAMESIS META
INVESTAMA
M. Ihsan Hilmi
Hilmi Panigoro Nathan Barki Sudjiono Timan
Panigoro
99.90% 0.1% 45% 55%
PT KALIBIRU LESTARI PT ACADIA ABADI
BERSAMA LESTARI
PT KALIBIRU
51% DAMAI ABADI 49%
30%
Tan Hang Huat 35% PT KALIBIRU 35%
ENERGI LESTARI
75.10%
100%
PT MEDCO ABADI 24.90%
PREMIUM RETURN LESTARI
VENTURES LTD
100%
98.84% 1.16% 79.90% 20.10%
DIAMOND BRIDGE
PT MEDCO DAYA
PTE LTD PT MEDCO DUTA PUBLIC
ABADI LESTARI
21.46%
0.12% 51.50% 26.92%
PT MEDCO ENERGI INTERNASIONAL TBK
Page 136
2025 Management Business Company Corporate
134 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
List of
Abbreviations
Abbreviation Meaning Abbreviation Meaning
1P Proved Reserves DEB PT Dalle Energy Batam
2P Proved and Probable Reserves DFS Definitive Feasibility Study
A&IC Audit & Integrity Compliance DIT Digital Information Technology
ABB Abu Butabul DSLNG PT Donggi Senoro LNG
ABMS Anti-Bribery Management System E&P Exploration & Production
ADR American Depositary Receipt EBITDA Earnings before Interest, Tax, Depreciation
and Amortisation
AGMS Annual General Meeting of Shareholders
EGMS Extraordinary General Meeting of Shareholders
AI/ML Artificial Intelligence and Machine Learning
ELB PT Energi Listrik Batam
AMG PT Api Metra Graha
ELO Ethics Liaison Officer
AMIN PT Amman Mineral Industri
EOR Enhanced Oil Recovery
AML Anti-Money Laundering
EPE PT Energi Prima Elektrika
AMMN PT Amman Mineral Internasional Tbk
EPSA Exploration and Production Sharing Agreement
AMNT PT Amman Mineral Nusa Tenggara
ERM Environmental Resources Management/
APAC Asia Pacific
Enterprise Risk Management
bbtud Billion British Thermal Units Per Day
ERP Enterprise Resources Planning
bcf Billion Cubic Feet
ESAP Employee Shares Award Programme
bcpd Barrel Condensate Per Day
ESG Environmental, Social and Governance
bfpd Barrel Fluid Per Day
FID Final Investment Decision
BOC Board of Commissioners
FPSO Floating Production Storage and Offloading
BOD Board of Directors
FSO Floating Storage and Offloading
boe Barrel of Oil Equivalent
GAIA Green Ambassadors for Inclusive Climate Action
bopd Barrel Oil Per Day
GBP Pound Sterling
boepd Barrel Oil Equivalent Per Day
GCG Good Corporate Governance
BSSN National Cyber and Crypto Agency
GHG Greenhouse Gas
CAO Chief Administrative Officer
GMS General Meeting of Shareholders
CCPP Combined Cycle Power Plant
GRI Global Reporting Initiative
CCRA Climate Change Risk Assessment
GSA Gas Sales Agreement
CCS Carbon Capture & Storage
GWh Giga Watt hour
CCUS Carbon Capture, Utilisation and Storage
HR Human Resources
CDP Carbon Disclosure Project
HSE Health, Safety and Environment
CECC Corporate Ethics and Compliance Committee
IDR Indonesian Rupiah
CEO Chief Executive Officer
IDX Indonesia Stock Exchange
CFO Chief Financial Officer
IOGP International Association of Oil & Gas Producers
CFSPP Coal-Fired Steam Power Plant
IONGE Indonesia’s Oil & Gas Exploration
CH4 Methane
IPA Indonesian Petroleum Association
CLA Collective Labour Agreement
IPP Independent Power Producer
COD Commercial Operation Date
ISO International Organisation for Standardisation
Company PT Medco Energi Internasional Tbk.
ITB Institut Teknologi Bandung
COO Chief Operating Officer
JOB Joint Operating Body
COSPA Crude Oil Sales and Purchase Agreement
JORC Joint Ore Reserve Committee
COVID-19 Coronavirus Disease 2019
Koz Thousand ounces
CPP Central Processing Plant
KPI Key Performance Indicator
CSA Cybersecurity Agency
KSEI Indonesia Central Securities Depository
CSEC Contractor Statement of Ethical Compliance
KSF Karim Small Fields
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 135
Abbreviation Meaning Abbreviation Meaning
lbs pound PLN Perusahaan Listrik Negara (State Electricity Company)
LLC Limited Liability Company PMR Precious Metals Refinery
LME London Metal Exchange POJK Peraturan Otoritas Jasa Keuangan
(Financial Services Authority Regulation)
LNG Liquefied Natural Gas
POP Put On Production
LOA Letter of Agreement
PPA Power Purchase Agreement
Ltd. Limited
PROPER Program Penilaian Peringkat Kinerja Perusahaan dalam
LTI Lost Time Injury
Pengelolaan Lingkungan (Company Performance
LTR Letang Tengah Rawa Rating Programme in Environmental Management)
MBAP MedcoEnergi Business Apprentice Programme PSA Production Sharing Agreement
mboepd Thousand Barrels Of Oil Equivalent Per Day PSE Process Safety Event
mbopd Thousand Barrels Of Oil Per Day PSC Production Sharing Contract
MCG PT Medco Cahaya Geothermal PSP-E Preliminary Survey and Exploration
MEB PT Mitra Energi Batam PT Perseroan Terbatas (Limited Liability Company)
MEG Medco Energi Global Pte. Ltd. Pte Ltd Private Limited
MEGS PT Mitra Energi Gas Sumatera PTTEP PTT Exploration and Production Public
MEM Ministry of Energy and Minerals Company Limited
MEMR Ministry of Energy and Mineral Resources Pty Ltd Proprietary Limited
MLB Medco Leadership Behaviours PV Photovoltaic
Mlbs Million pounds Pvt Ltd Private Limited
MLI PT Medco LNG Indonesia RUPTL Electricity Supply Business Plan
mmbo Million Barrels of Oil SEOJK Surat Edaran Otoritas Jasa Keuangan (Circular
Letter of the Financial Services Authority)
mmboe Million Barrels of Oil Equivalent
SGX Singapore Stock Exchange
mmbtu Million British Thermal Unit
SIEW Singapore International Energy Week
mmscfd Million Standard Cubic Feet Per Day
SKK Migas Oil & Gas Regulatory Special Task Force
MPE PT Multidaya Prima Elektrindo
SMS Social Management System
MPGS PT Medco Power Geothermal Services
SOL Sarulla Operations Ltd
MPI PT Medco Power Indonesia
SPA Sales and Purchase Agreement
MRPR PT Medco Ratch Power Riau
SPE Society of Petroleum Engineers
MSCI Morgan Stanley Capital International
SRB PT Satria Raksa Buminusa
MSLDP Medco Senior Leadership Development Programme
SRMC Sustainability and Risk Management Committee
MSME Micro, Small and Medium Enterprise
SSC Shared Service Centre
MSMS Medco Security Management System
TB Tuberculosis
MTBL Medco Thailand Bualuang Limited
tcf Trillion Cubic Feet
MW Mega Watt
TCFD Task Force on Climate-related Financial Disclosures
MWp Mega Watt peak
tCO2e Tons of CO2 Equivalents
OGMP Oil and Gas Methane Partnership
TGI PT Transportasi Gas Indonesia
OJK Otoritas Jasa Keuangan (Financial Services
Authority) TJBPS PT TJB Power Services
O&M Operation & Maintenance TRIR Total Recordable Incident Rate
OPES Oman Petroleum & Energy Show UN United Nations
oz ounce UNGP United Nations Guiding Principles
PDCA Plan-Do-Check-Adjust USD United States Dollar
PGN PT Perusahaan Gas Negara Tbk WHB Waste Heat Boiler
PKR Deed of Statement of Meeting Resolutions WHP Well Head Platform
plc Public Limited Company YKI Yayasan Kanker Indonesia
Page 138
2025 Management Business Company Corporate 136 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments Disclaimer As of 23 Mar 2026, PT Medco Energi Internasional Tbk received an MSCI ESG Rating of AAA. Disclaimer Statement The use by PT Medco Energi Internasional Tbk of any MSCI Solutions LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of PT Medco Energi Internasional Tbk by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
Page 139
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 137
Cross Reference to
OJK Requirements
Description Page
I. General Provision
1. In this Financial Services Authority Circular Letter what is meant by:
a. The Annual Report is a report on the Board of Directors and Board of Commissioners accountability in
managing and supervising issuers or public companies within a period of 1 (one) fiscal year to the general
meeting of shareholders prepared based on the provisions of the Financial Services Authority Regulation
concerning the Annual Report of issuers or public companies
b. Issuers are parties who make public offerings
c. A Public Company is a company whose shares are owned by at least 300 (three hundred) shareholders and
has a paid-up capital of at least Rp3,000,000,000.00 (three billion rupiah) or a number of shareholders and
paid-up capital as determined by the Financial Services Authority
d. A Public Company is an Issuer that has made a public offering of equity securities or a Publicly-listed Company
e. A Sustainability Report is a report published to the public that contains the economic, financial, social, and
environmental performance of a financial service institution, Issuer, and Public Company in running a
sustainable business
f. Board of Directors:
(1) For an Issuer or a Public Company in the form of a limited liability company, it is the Board of Directors
as referred to in the Financial Services Authority Regulation concerning the Board of Directors and Board
of Commissioners of an Issuer or Public Company; and
(2) For an Issuer or a Public Company in the form of a legal entity other than a limited liability company, it is
the body that carries out the management of the legal entity as referred to in the laws and regulations
concerning the legal entity.
g. Board of Commissioners:
(1) For an Issuer or a Public Company in the form of a limited liability company, the Board of Commissioners
as referred to in the Financial Services Authority Regulation concerning the Board of Directors and Board
of Commissioners of an Issuer or Public Company; and
(2) For the Issuer or Public Company in the form of a legal entity other than a limited liability company, it is
the body that supervises the legal entity as referred to in the laws and regulations concerning the legal
entity.
h. General Meeting of Shareholders hereinafter abbreviated as GMS:
(1) For an Issuer or a Public Company in the form of a limited liability company, it is the GMS as referred to
in the Financial Services Authority Regulation concerning the Planning and Organizing of the General
Meeting of Shareholders of a Public Company; and
(2) For an Issuer or Public Company in the form of a legal entity other than a limited liability company,
it is the body that has authority that is not given to any other body that carries out management and
supervisory functions, within the limits specified in the legislation and/or articles of association governing
the legal entity.
2. The Annual Report of Issuers or Public Companies is an important source of information for investors or
shareholders as one of the basic considerations in making investment decisions and a means of supervision of
Issuers or Public Companies.
3. Along with the development of the capital market and the increasing need for information disclosure by
investors or shareholders, the Board of Directors and the Board of Commissioners are required to present
quality, accurate, and accountable information through the Annual Reports of Issuers or Public Companies.
4. Annual Reports that are prepared regularly and informatively can provide convenience for investors or
shareholders and stakeholders in obtaining the required information.
5. This Financial Services Authority Circular is a guideline for Issuers or Public Companies that must be applied in
preparing Annual Reports and Sustainability Reports.
II. Format of Annual Report
1. Annual Report should be presented in the printed format and in electronic document copy.
2. The printed version of the Annual Report should be printed on light-coloured paper of fine quality, in A4 size,
bound and can be reproduced in good quality.
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Cross Reference to
OJK Requirements
Description Page
3. The Annual Report may present information in the form of pictures, graphs, tables, and/or diagrams by
including clear titles and/or descriptions, so that they are easy to read and understand.
4. The Annual Report presented in electronic document format is the Annual Report converted into pdf format.
III. Content Of Annual Report
1. Annual Report should contain at least the following information:
a. Summary of key financial information; 72
b. Stock information (if any); 120-121
c. The Board of Directors report; 14-17
d. The Board of Commissioners report; 10-13
e. Profile of Issuer or Public Company; 54-73, 130-135
f. Management discussion and analysis; 20-29
g. Good Corporate Governance applied by the Issuer or Public Company; 84-116
h. Corporate social and environmental responsibility of the Issuer or Public Company; 74-83
i. Audited Financial Statement; and 150
j. Statement that the Board of Directors and the Board of Commissioners are fully responsible for the
117
Annual Report;
2. Description of Content of Annual Report
a. Summary of Key Financial Information
Summary of Key Financial Information contains financial information presented in comparison with
previous 3 (three) fiscal years or since commencement of business if the Issuers or the Public Company
commencing the business less than 3 (three) years, at least contain:
(1) income/sales;
(2) gross profit;
(3) profit (loss);
(4) total profit (loss) attributable to equity holders of the parent entity and non-controlling interest;
(5) total comprehensive profit (loss);
(6) total comprehensive profit (loss) attributable to equity holders of the parent entity and non controlling
interest;
(7) earning (loss) per share; 72-73
(8) total assets;
(9) total liabilities;
(10) total equities;
(11) profit (loss) to total assets ratio;
(12) profit (loss) to equities ratio;
(13) profit (loss) to income ratio;
(14) current ratio;
(15) liabilities to equities ratio;
(16) liabilities to total assets ratio; and
(17) other information and financial ratios relevant to the Issuer or Public Company and type of industry;
b. Stock Information
Stock Information (if any) at least contains:
(1) shares issued for each three-month period in the last 2 (two) fiscal years (if any), at least covering: 120
(a) number of outstanding shares;
(b) market capitalisation based on the price at the Indonesia Stock Exchange where the shares listed on;
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 139
Description Page
(c) highest share price, lowest share price, closing share price at the Stock Exchange where the shares
listed on; and
(d) share volume at the Stock Exchange where the shares listed on;
Information in point a) should be disclosed by the Issuer, the public company whose shares is listed or not 120
listed in the Indonesia Stock Exchange;
Information in point b), point c), and point d) only be disclosed if the Issuer is a public company whose
shares is listed in the Indonesia Stock Exchange;
(2) in the event of corporate actions, including stock split, reverse stock, dividend, bonus share, and
change in par value of shares, then the share price referred to in point 1), should be added with
explanation on:
(a) date of corporate action;
(b) stock split ratio, reverse stock, dividend, bonus shares, and change in par value of shares; N/A
(c) number of outstanding shares prior to and after corporate action; and
(d) The number of convertible securities exercised (if any); and
(e) share price prior to and after corporate action;
(3) in the event that the company’s shares were suspended and/or delisted from trading during the year
under review, then the Issuers or Public Company should provide explanation on the reason for the N/A
suspension and/or delisting; and
(4) in the event that the suspension and/or delisting as referred to in point 3) was still in effect until the date
of the Annual Report, then the Issuer or the Public Company should also explain the corporate actions N/A
taken by the company in resolving the suspension and/or delisting;
c. The Board of Directors Report
The Board of Directors Report should at least contain the following items:
(1) the performance of the Issuer or Public Company, at least covering:
(a) strategy and strategic policies of the Issuer or Public Company;
(b) Role of the Board of Directors in formulating strategies and strategic policies of Issuers or Public
Companies; 14-17
(c) Process carried out by the Board of Directors to ensure the implementation of the Issuer’s or Public
Company’s strategy;
(d) comparison between achievement of results and targets; and
(e) challenges faced by the Issuer or Public Company;
(2) description on business prospects;
(3) implementation of good corporate governance by Issuer or Public Company; and 17
(4) changes in the composition of the Board of Directors and the reason behind (if any); –
d. The Board of Commissioners Report
The Board of Commissioners Report should at least contain the following items:
(1) Assessment on the performance of the Board of Directors in managing the Issuer or the Public Company; 11
(2) Supervision on the implementation of the strategy of the Issuer or Public Company; 11
(3) View on the business prospects of the Issuer or Public Company as established by the Board of Directors; 13
(4) View on the implementation of the corporate governance by the Issuer or Public Company; 12
(5) Changes in the composition of the Board of Commissioners and the reason behind (if any); and –
e. Profile of the Issuer or Public Company
Profile of the Issuer or Public Company should cover at least:
(1) Name of Issuer or Public Company, including change of name, reason of change, and the effective date
128
of the change of name during the year under review;
(2) access to Issuer or Public Company, including branch office or representative office, where public can
have access of information of the Issuer or Public Company, which include:
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(a) Address;
(b) Telephone number;
(c) Facsimile number; 129
(d) E-mail address; and
(e) Website address;
(3) Brief history of the Issuer or Public Company; 58-59
(4) Vision and mission of the Issuer or Public Company, including corporate culture and/or company values; 57
(5) Line of business according to the latest Articles of Association, and types of products and/or services
128
produced;
(6) Operational area of the Issuer or Public Company, representing the geographical scope of its business
4-5
activities;
(7) Organisational structure of the Issuer or Public Company presented in chart form, at least 1 (one) level
below the Board of Directors, including committees under the Board of Directors and the Board of 132
Commissioners, along with names and titles;
(8) List of memberships in industry association, both national and international, related to the
N/A
implementation of sustainable finance;
(9) The Board of Directors profiles include:
(a) Name and short description of duties and functions;
(b) Latest photograph;
(c) Age;
(d) Citizenship;
(e) Education;
(f) history position, covering information on:
(i) Legal basis for appointment as member of the Board of Directors to the said Issuer or Public
Company; 64-65
(ii) Dual position, as member of the Board of Directors, member of the Board of Commissioners, and/
or member of committee, and other position (if any); and
(iii) Working experience and period in and outside the Issuer or Public Company;
(g) Affiliation with other members of the Board of Directors, members of the Board of Commissioners,
majority and controlling shareholders, either directly or indirectly to individual owners, including
names of affiliated parties. In the event that a member of the Board of Directors has no affiliation, the
Issuer or Public Company shall disclose this matter; and
(h) Changes in the composition of the members of the Board of Directors and the reasons for the
changes. In the event that there is no change in the composition of the members of the Board of
Directors, this matter shall be disclosed;
(10) The Board of Commissioners profiles, at least include:
(a) Name;
(b) Latest photograph;
(c) Age;
(d) Citizenship;
62-63
(e) Education;
(f) History position, covering information on:
(i) Legal basis for the appointment as member of the Board of Commissioners who is not
Independent Commissioner at the said Issuer or Public Company;
(ii) Legal bases for the first appointment as member of the Board of Commissioners who also
Independent Commissioner at the said Issuer or Public Company;
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(iii) Dual position; as member of the Board of Commissioners, member of the Board of Directors, and/
or member of committee and other position (if any); and
(iv) Working experience and period in and outside the Issuer or Public Company;
(g) Affiliation with other members of the Board of Commissioners, major shareholders, and controllers
either directly or indirectly to individual owners, including names of affiliated parties; In the event that
a member of the Board of Commissioners has no affiliation, the Issuer or Public Company shall
62-63
disclose this matter;
(h) Statement of independence of Independent Commissioner in the event that the Independent
Commissioner has been appointed more than 2 (two) periods (if any);
(i) Changes in the composition of the members of the Board of Commissioners and the reasons for the
changes. In the event that there is no change in the composition of the members of the Board of
Commissioners, this matter shall be disclosed;
(11) In the event that there were changes in the composition of the Board of Commissioners and/or the
Board of Directors occurring between the period after year-end until the date the Annual Report
N/A
submitted, then the last and the previous composition of the Board of Commissioners and/or the Board
of Directors shall be stated in the Annual Report;
(12) Number of employees by gender, position, age, education level, and employment status (permanent/
70-71
contracted) in the fiscal year; Disclosure of information can be presented in tabular form.
(13) Names of shareholders and ownership percentage at the end of the fiscal year, including:
(a) Shareholders having 5% (five percent) or more shares of Issuer or Public Company;
(b) Commissioners and Directors who own shares of the Issuers or Public Company; and 121
(c) Groups of public shareholders, or groups of shareholders, each with less than 5% (five percent)
ownership shares of the Issuers or Public Company;
(14) The percentage of indirect ownership of the shares of the Issuer or Public Company by members of the
Board of Directors and members of the Board of Commissioners at the beginning and end of the fiscal
N/A
year, including information on shareholders registered in the shareholder register for the benefit of
indirect ownership of members of the Board of Directors and members of the Board of Commissioners;
(15) Number of shareholders and ownership percentage at the end of the fiscal year, based on:
(a) Ownership of local institutions;
(b) Ownership of foreign institutions; 121
(c) Ownership of local individual; and
(d) Ownership of foreign individual;
(16) Information on major shareholders and controlling shareholders the Issuers of Public Company, directly
133
or indirectly, and also individual shareholder, presented in the form of scheme or diagram;
(17) Name of subsidiaries, associated companies, joint venture controlled by Issuers or Public Company, with
entity, percentage of stock ownership, line of business, total assets and operating status of the Issuers 51-53, 130-131
of Public Company (if any);
For subsidiaries, include the addresses of the said subsidiaries; 129
(18) Chronology of share listing, number of shares, par value, and bid price from the beginning of listing up to
the end of the financial year, and name of Stock Exchange where the Issuers of Public Company shares 121
are listed;
(19) Other securities listing information other than the securities as referred to in number 18), which have not
yet matured in the fiscal year, at least contain the name of the securities, year of issue, interest rate/ 122-127
yield, maturity date, offering value, and securities rating (if any);
(20) Information on the use of a Public Accountant (AP) and a Public Accounting firm (KAP) services and their
networks/associations/alliances include:
28
(a) name and address;
(b) period of assignment;
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(c) information on audit and/or non-audit services provided;
(d) Audit and/or non-audit fees for each assignment given during the fiscal year; and
28
(e) In the event that AP and KAP and their network/association/alliance, which are appointed do not
provide non-audit services, then the information is disclosed; and
(21) Name and address of capital market supporting institutions and/or professionals other than AP and KAP 129
f. Management Discussion and Analysis
Management Analysis and Discussion Annual should contain discussion and analysis on financial
statements and other material information emphasising material changes that occurred during the year
under review, at least including:
(1) Operational review per business segment, according to the type of industry of the Issuer or Public
Company including:
(a) Production, including process, capacity, and growth; 30-53
(b) Income/sales; and
(c) Profitability;
(2) comprehensive financial performance analysis which includes a comparison between the financial
performance of the last 2 (two) fiscal years, and explanation on the causes and effects of such changes,
among others concerning:
(a) Current assets, non-current assets, and total assets;
(b) Short term liabilities, long term liabilities, total liabilities; 20-29
(c) Equities;
(d) Sales/operating revenues, expenses and profit (loss), other comprehensive revenues, and total
comprehensive profit (loss); and
(e) Cash flows
(3) The capacity to pay debts by including the computation of relevant ratios; 72
(4) Accounts receivable collectability of the Issuer or Public Company, including the computation of the
N/A
relevant ratios;
(5) Capital structure and management policies concerning capital structure, including the basis for
24, 26
determining the said policy;
(6) discussion on material ties for the investment of capital goods, including the explanation on at least:
(a) The purpose of such ties;
(b) Source of funds expected to fulfil the said ties; 24, 26
(c) Currency of denomination; and
(d) Steps taken by the Issuer of Public Company to protect the position of a related foreign currency against risks;
(7) Discussion on investment of capital goods which was realised in the last fiscal year, at least include:
(a) Type of investment of capital goods;
24, 26
(b) Objective of the investment of capital goods; and
(c) Value of the investment of capital goods;
(8) Material Information and facts that occurring after the date of the accountant’s report (if any); N/A
(9) Information on the prospects of the Issuer or the Company in connection with industry,economy in
24-25
general, accompanied with supporting quantitative data if there is a reliable data source;
(10) Comparison between target/projection at beginning of year and result (realisation), concerning:
(a) Income/sales;
(b) Profit (loss);
N/A
(c) Capital structure; or
(d) Dividend policy; or
(e) Others that deemed necessary for the Issuer or Public Company;
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(11) Target/projection at most for the next one year of the Issuer or Public Company, concerning:
(a) Income/sales;
(b) Profit (loss);
N/A
(c) Capital structure; or
(d) Dividend policy;
(e) Or others that deemed necessary for the Issuer or Public Company;
(12) Marketing aspects of the company’s products and/or services the Issuer or Public Company, among
N/A
others marketing strategy and market share;
(13) Description regarding the dividend policy during the last 2 (two) fiscal years, at least:
(a) Dividend policy, including the percentage of dividends distributed relative to net income;
(b) The date of the payment of cash dividend and/or date of distribution of non-cash dividend;
(c) Amount of dividend per share (cash and/or non cash); and 24
(d) Amount of dividend per year paid;
Disclosure of information can be presented in tabular form. In the event that the Issuer or Public
Company does not distribute dividends in the last 2 (two) years, this matter shall be disclosed.
(14) Use of proceeds from Public Offerings, under the condition of:
(a) during the year under review, on which the Issuer has the obligation to report the realisation of the
use of proceeds, then the realisation of the cumulative use of proceeds until the year end should be
disclosed; and 124
(b) In the event that there were changes in the use of proceeds as stipulated in the Regulation of the
Financial Services Authority on the Report of the Utilisation of Proceeds from Public Offering, then
Issuer should explain the said changes;
(15) Material information (if any), among others concerning investment, expansion, divestment, acquisition,
debt/capital restructuring, transactions with related parties and transactions with conflict of interest that
occurred during the year under review, among others include:
(a) Transaction date, value, and object;
(b) Name of transacting parties; 26-27
(c) Nature of related parties (if any);
(d) Description of the fairness of the transaction; and
(e) Compliance with related rules and regulations;
(f) In the event that there is an affiliation relationship, apart from disclosing the information as referred to
in letter a) to letter e), the Issuer or Public Company also discloses information:
(i) A statement from the Board of Directors that the affiliate transaction has gone through adequate
procedures to ensure that the affiliate transaction is carried out in accordance with generally
N/A
accepted business practices, by complying with the arms-length principle; and
(ii) The role of the Board of Commissioners and the audit committee in carrying out adequate
procedures to ensure that affiliated transactions are carried out in accordance with generally
accepted business practices, by complying with the arms-length principle;
(g) For affiliated transactions or material transactions which are business activities carried out to generate
business income and are carried out regularly, repeatedly, and/or continuously, an explanation is
added that the affiliated transactions or material transactions are business activities carried out to
generate operating income. and run regularly, repeatedly, and/or continuously;
(h) For disclosure of affiliated transactions and/or conflict of interest transactions resulting from the
26-27
implementation of affiliated transactions and/or conflict of interest transactions that have been
approved by independent shareholders, additional information regarding the date of the GMS which
approved the affiliated transactions and/or conflict of interest transactions is added;
(i) In the event that there is no affiliated transaction and/or conflict of interest transaction, then this shall
be disclosed;
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(16) Changes in regulation which have a significant impact on the Issuer or Public Company and their effects
N/A
on the financial statements (if any); and
(17) Changes in the accounting policy, rationale and impact on the financial statement (if any); N/A
g. Good Corporate Governance of the Issuer or Public Company
Good Corporate Governance of the Issuer or Public Company contains at least:
(1) GMS, at least contains:
(a) Information regarding the resolutions of the GMS in the fiscal year and 1 (one) year prior to the fiscal
year include:
(i) Resolutions of the GMS in the fiscal year and 1 (one) year before the fiscal year realised in the
fiscal year; and 87-91
(ii) Resolutions of the GMS in the fiscal year and 1 (one) year before the fiscal year that have not been
realised and the reasons for not realising them;
(b) In the event that the Issuer or Public Company uses an independent party in the conduct of the GMS
to calculate the votes, then this matter shall be disclosed;
(2) The Board of Directors, covering:
(a) The tasks and responsibilities of each member of the Board of Directors;
(b) Statement that the Board of Directors has already have board manual or charter;
(c) Policies and implementation of the frequency of meetings of the Board of Directors, meetings of the
Board of Directors with the Board of Commissioners, and the level of attendance of members of the
Board of Directors in the meeting including attendance at the GMS;
(d) Training and/or competency development of members of the Board of Directors:
(i) Policies for training and/or improving the competence of members of the Board of Directors,
including an orientation programme for newly appointed members of the Board of Directors
(if any); and 94-97
(ii) Training and/or competency improvement attended by members of the Board of Directors in the
fiscal year (if any);
(e) The Board of Directors’ assessment of the performance of the committees that support the
implementation of the Board of Directors’ duties for the fiscal year shall at least contain:
(i) Performance appraisal procedures; and
(ii) The criteria used are performance achievements during the fiscal year, are competence and
attendance at meetings; and
(f) In the event that the Issuer or Public Company does not have a committee that supports the
implementation of the duties of the Board of Directors, this matter shall be disclosed.
(3) The Board of Commissioners, among others include:
(a) Duties and responsibilities of the Board of Commissioners;
(b) Statement that the Board of Commissioners has already have the board manual or charter;
(c) Policies and implementation of the frequency of meetings of the Board of Commissioners, meetings
of the Board of Commissioners with the Board of Directors and the level of attendance of members
of the Board of Commissioners in these meetings including attendance at the GMS;
(d) Training and/or competency improvement of members of the Board of Commissioners:
92-93
(i) Policy on competency training and/or development of members of the Board of Commissioners,
including orientation programmes for newly appointed members of the Board of Commissioners
(if any); and
(ii) Competency training and/or development attended by members of the Board of Commissioners in
the fiscal year (if any);
(e) The assessment on the performance of the Board of Directors and Board of Commissioners and the
implementation, at least covering:
(i) procedure for the implementation of performance assessment;
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(ii) Criteria used are performance achievements during the fiscal year, competency and attendance
at meetings; and
(iii) Assessor;
(f) Board of Commissioners’ assessment of the performance of the Committees that support the
93
implementation of the duties of the Board of Commissioners in the fiscal year includes:
(i) Performance appraisal procedures; and
(ii) The criteria used are performance achievements during the fiscal year, competency and
attendance at meetings;
(4) The nomination and remuneration of the Board of Directors and the Board of Commissioners shall at
least contain:
(a) Nomination procedure, including a brief description of the policies and process for nomination of
members of the Board of Directors and/or members of the Board of Commissioners; and
(b) Procedures and implementation of remuneration for the Board of Directors and the Board of
Commissioners, among others:
98
(i) Procedures for determining remuneration for the Board of Directors and the Board of
Commissioners;
(ii) The remuneration structure of the Board of Directors and the Board of Commissioners such as
salary, allowances, tantiem/bonus and others; and
(iii) The amount of remuneration for each member of the Board of Directors and member of the
Board of Commissioners
(5) Sharia Supervisory Board, for Issuer or Public Company that conduct business based on sharia law,
as stipulated in the articles of association, at least containing:
(a) name;
(b) Legal basis for the appointment of the sharia supervisory board;
N/A
(c) Period of assignment of the sharia supervisory board;
(d) duty and responsibility of Sharia Supervisory Board; and
(e) frequency and procedure in providing advice and suggestion, as well as the compliance of Sharia
Principles by the Issuer or Public Company in the Capital Market;
(6) Audit Committee, among others covering:
(a) Name and position in the committee;
(b) Age;
(c) Citizenship;
(d) Education background;
(e) History of position; including:
(i) Legal basis for appointment as committee member;
(ii) Dual position, as member of Board of Commissioners, member of Board of Directors, and/or
member of committee, and other position (if any); and 99-100
(iii) working experience and period in and outside the Issuer or Public Company;
(f) Period and terms of office of the member of Audit Committee;
(g) statement of independence of the Audit Committee;
(h) Training and/or competency improvement that have been followed in the fiscal year (if any);
(i) Policies and implementation of the frequency of audit committee meetings and the level of
attendance of audit committee members in those meetings; and
(j) the activities of the Audit Committee in the year under review, in accordance with the Audit
Committee Charter;
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(7) The nomination & remuneration committee or function of the Issuer or Public Company, at least containing:
(a) Name and position in committee membership;
(b) Age;
(c) Nationality;
(d) Educational history;
(e) Position history, including information on:
(i) Legal basis for appointment as committee member;
(ii) Concurrent positions, either as a member of the Board of Commissioners, member of the Board
of Directors, and/or committee member and other positions (if any); and
(iii) Work experience and period of time both inside and outside the Issuer or Public Company;
(f) Period and term of office of the committee members;
101-102
(g) Statement of committee independence;
(h) Training and/or competency improvement that have been followed in the fiscal year (if any);
(i) Description of duties and responsibilities;
(j) A statement that it has a guideline or charter;
(k) Policies and implementation of the frequency of meetings and the level of attendance of members at
the meeting;
(l) Brief description of the implementation of activities in the fiscal year; and
(m) In the event that no nomination & remuneration committee is formed, the Issuer or Public Company
is sufficient to disclose the information as referred to in letter i) to letter l) and disclose:
(i) Reasons for not forming the committee; and
(ii) The party carrying out the nomination and remuneration function;
(8) Other committees owned by Issuers or Public Companies in order to support the functions and tasks of
the Board of Directors (if any) and / or committees that support the functions and duties of the Board of
Commissioners, the least contains:
(a) Name and position in the Committee;
(b) Age;
(c) Citizenship;
(d) Education background;
(e) History of position, including:
(i) Legal basis for the appointment as member of the committee;
(ii) Dual position, as member of Board of Commissioners, member of Board of Directors, and/or
member of committee, and other position (if any); and 103-105
(iii) Working experience and period in and outside the Issuer or Public Company;
(f) Period and terms of office of the member of Audit Committee;
(g) Statement of committee independence;
(h) Training and/or competency improvement that have been followed in the fiscal year (if any); and
(i) Description of duties and responsibilities;
(j) A statement that the committee has had guidelines or charters;
(k) Policies and implementation of the frequency of committee meetings and the level of attendance of
committee members at the meeting; and
(l) A brief description of the committee’s activities for the fiscal year;
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(9) Corporate Secretary, including:
(a) name;
(b) domicile;
(c) history of position, including:
(i) legal basis for the appointment as Corporate Secretary; and 106-107
(ii) working experience and period in and outside the Issuer or Public Company;
(d) education background;
(e) education and/or training during the year under review; and
(f) brief description on the implementation of duties of the Corporate Secretary in the year under review;
(10) Internal Audit Unit, among others including:
(a) Name of Head of Internal Audit Unit;
(b) History of position, including:
(i) Legal basis for the appointment as Head of Internal Audit Unit; and
(ii) Working experience and period in and outside the Issuer or Public Company;
(c) Qualification or certification as internal auditor (if any);
107-108
(d) Education and/or training during the year under review;
(e) Structure and position of Internal Audit Unit;
(f) Description of duties and responsibilities;
(g) Statement that the Internal Audit Unit has already have Internal Audit Unit charter; and
(h) Brief description on the implementation of duties of the Internal Audit Unit during the reporting year,
including its activities and coordination with the Board of Directors, Board of Commissioners, and/or
Audit Committee;
(11) Description on internal control system adopted by the Issuer or Public Company, at least covering:
(a) Financial and operational control, and compliance to the other prevailing rules; and
(b) Review on the effectiveness of internal control systems; 108
(c) Statement of the Board of Directors and/or Board of Commissioners on the adequacy of the internal
control system;
(12) Risk management system implemented by the company, at least includes:
(a) General description about the company’s risk management system the Issuer or Public Company;
109-111
(b) Types of risk and the management; and
(c) Review the effectiveness of the risk management system applied by the Issuer or Public Company;
(d) Statement of the Board of Directors and/or the Board of Commissioners or the audit committee on
103
the adequacy of the risk management system;
(13) Legal cases that have a material impact faced by Issuers or Public Companies, subsidiaries, members of
the Board of Directors and members of the Board of Commissioners (if any), at least contain:
(a) Substance of the case/claim; 112
(b) Status of settlement of case/claim; and
(c) Potential impacts on the condition of the Issuer or Public Company;
(14) information about administrative sanctions imposed to Issuer or Public Company, members of the
Board of Commissioners and the Board of Directors, by the Capital Market Authority and other 112
authorities during the last fiscal year (if any);
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(15) information about codes of conduct of the Issuer or Public Company, includes:
(a) Key points of the code of conduct;
(b) Socialisation of the code of conduct and enforcement; and 112-113
(c) Statement that the code of conduct is applicable for the Board of Commissioners, the Board of
Directors, and employees of the Issuer of Public Company;
(16) A brief description of the policy of providing long-term performance-based compensation to management
and/or employees owned by the Issuer or Public Company (if any), including the management stock
ownership programmes (MSOP) and/or programmes employee stock ownership (ESOP);
(a) Number of shares and/or options;
113-114
(b) Implementation period;
(c) Requirements for eligible employees and/or management; and
(d) Exercise price or determination of exercise price;
(17) A brief description of the information disclosure policy regarding:
(a) Share ownership of members of the Board of Directors and members of the Board of Commissioners
no later than 3 (three) working days after the occurrence of ownership or any change in ownership of 115
shares of a Public Company; and
(b) Implementation of the policy;
(18) Description of whistleblowing system at the Issuer or Public Company (if any), among others include:
(a) Mechanism for violation reporting;
(b) Protection for the whistleblower;
(c) Handling of violation reports;
116
(d) Unit responsible for handling of violation report; and
(e) Results from violation report handling, at least includes:
(i) Number of complaints received and processed during the fiscal year; and
(ii) Follow up of complaints;
(19) A description of the anti-corruption policy of the Issuer or Public Company, at least containing:
(a) Programmes and procedures implemented in overcoming corrupt practices, kickbacks, fraud,
115
bribery and/or gratification in Issuers or Public Companies; and
(b) Anti-corruption training/socialisation to employees of Issuers or Public Companies;
(20) Implementation of the Guidelines of Corporate Governance for Public Companies for Issuer issuing
Equity-based Securities or Public Company, including:
(a) statement regarding recommendation that have been implemented; and/or N/A
(b) description of recommendation that have not been implemented, along with the reason and
alternatives of implementation (if any);
h. Social and Environmental Responsibility of the Issuer or Public Company
(1) The information disclosed in the social and environmental responsibility section is a Sustainability Report
as referred to in the Financial Services Authority Regulation Number 51/POJK.03/2017 concerning the
Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies,
at at least includes:
(a) Explanation of the sustainability strategy;
(b) Overview of sustainability aspects (economic, social, and environmental);
(c) Brief profile of the Issuer or Public Company;
(d) Explanation of the Board of Directors;
(e) Sustainability governance;
(f) Sustainability performance;
(g) Written verification from an independent party, if any;
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(h) Feedback sheet for readers, if any; and
(i) The response of the Issuer or Public Company to the previous year’s report feedback;
(2) The Sustainability Report as referred to in number 1) must be prepared in accordance with the Technical
Guidelines for the Preparation of a Sustainability Report for Issuers and Public Companies as contained in
Appendix II which is an integral part of this Financial Services Authority Circular Letter;
(3) Information on the Sustainability Report in number 1) can:
(a) Disclosed in other relevant sections outside the Social and Environmental Responsibility section, such
as the Directors’ explanation regarding the Sustainability Report disclosed in the section related to the
Directors’ Report; and/or
(b) Refers to other sections outside the Social and Environmental Responsibility section by still referring
to the Technical Guidelines for the Preparation of Sustainability Reports for Issuers and Public
Companies as listed in Appendix II which is an integral part of this Financial Services Authority
Circular Letter, such as the profile of the Issuer or Public Company;
(4) The Sustainability Report as referred to in number 1) is an inseparable part of the Annual Report but can
be presented separately from the Annual Report;
(5) In the event that the Sustainability Report is presented separately from the Annual Report, the
information disclosed in the Sustainability Report must:
(a) Contains all the information as referred to in number 1); and
(b) Prepared in accordance with the Technical Guidelines for the Preparation of a Sustainability Report for
Issuers and Public Companies as listed in Appendix II which is an integral part of this Financial
Services Authority Circular Letter;
(6) In the event that the Sustainability Report is presented separately from the Annual Report, then the
Social and Environmental Responsibility section contains information that has been disclosed in the
Sustainability Report which is presented separately from the Annual Report; and
(7) Submission of the Sustainability Report which is presented separately from the Annual Report must be
submitted together with the Annual Report.
i. Audited Annual Financial Statement
Financial Statements included in Annual Report should be prepared in accordance with the Financial
Accounting Standards in Indonesia and audited by an Accountant. The said financial statement should be
included with statement of responsibility for financial report as stipulated in the legislations in the Capital
Markets sector governing the responsibility of the Board of Directors on the financial report or the
legislations in the Capital Markets sector governing the periodic reports of securities company in the event
the Issuer is a Securities Company; and
j. Letter of Statement of the Board of Directors and the Board of Commissioners regarding the Responsibility
for Annual Reporting
Letter of statement of the Board of Directors and the Board of Commissioners regarding the responsibility
for Annual Reporting should be prepared according to the format of letter of statement of member of Board
of Directors and the Board of Commissioners regarding the responsibility for Annual Reporting as attached
in the Attachment, which is an integral part of this Circulation Letter of the Financial Services Authority.
Page 152
2025 Management Business Company Corporate
150 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
PT Medco Energi Internasional Tbk
dan entitas anaknya/and its subsidiaries
Laporan keuangan konsolidasian
tanggal 31 Desember 2025
dan untuk tahun yang berakhir pada tanggal tersebut
beserta laporan auditor independen/
Consolidated financial statements
as of December 31, 2025 and for the year then ended
with independent auditor's report
Page 153
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 151
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN KEUANGAN CONSOLIDATED
KONSOLIDASIAN FINANCIAL STATEMENTS
TANGGAL 31 DESEMBER 2025 AS OF DECEMBER 31, 2025
DAN UNTUK TAHUN YANG BERAKHIR PADA AND FOR THE YEAR THEN ENDED
TANGGAL TERSEBUT WITH INDEPENDENT AUDITOR'S REPORT
BESERTA LAPORAN AUDITOR INDEPENDEN
Daftar Isi Table of Contents
Halaman/
Page
Surat Pernyataan Direksi Statement of the Board of Directors
Laporan Auditor Independen Independent Auditor’s Report
Consolidated Statement of Financial
Laporan Posisi Keuangan Konsolidasian .................. 1-3 ................................................................. Position_
Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss
Komprehensif Lain Konsolidasian ........................ 4-6 ........................and Other Comprehensive Income_
Consolidated Statement of Changes in
Laporan Perubahan Ekuitas Konsolidasian .............. 7-8 .................................................................... Equity_
Laporan Arus Kas Konsolidasian ................................ 9-10 ...................Consolidated Statement of Cash Flows
Notes to the Consolidated Financial
Catatan Atas Laporan Keuangan Konsolidasian .... 11-342 .............................................................Statements_
Informasi Keuangan Entitas Induk.............................. 343-352 ......................…Parent Entity Financial Information
Informasi Tambahan ..................................................... 353-359 ......................................Supplementary Information
***************************
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2025 Management Business Company Corporate 152 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 153
Page 156
2025 Management Business Company Corporate
154 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen Independent Audit or’s Report
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 6/ 1/ IV/ 2026
Pemegang Saham, Dewan Komisaris, dan Direksi The Shareholders and t he Boards of
PT Medco Energi Int ernasional Tbk Commissioners and Direct ors
PT Medco Energi Int ernasional Tbk
Opini Opinion
Kami telah mengaudit laporan keuangan We have audited the accompanying consolidated
konsolidasian PT Medco Energi Internasional Tbk financial statements of PT Medco Energi
(“ Perusahaan” ) dan entitas anaknya (secara Internasional Tbk (the “ Company” ) and its
kolektif disebut sebagai “ Grup” ) terlampir, yang subsidiaries (collectively referred to as the
terdiri dari laporan posisi keuangan konsolidasian “ Group” ), which comprise the consolidated
tanggal 31 Desember 2025, serta laporan statement of financial position as of December 31,
laba rugi dan penghasilan komprehensif lain 2025, and the consolidated statement of profit or
konsolidasian, laporan perubahan ekuitas loss and other comprehensive income,
konsolidasian, dan laporan arus kas konsolidasian consolidated statement of changes in equity, and
untuk tahun yang berakhir pada tanggal tersebut, consolidated statement of cash flows for the year
serta catatan atas laporan keuangan then ended, and notes to the consolidated financial
konsolidasian, termasuk informasi kebijakan statements, including material accounting policy
akuntansi material. information.
Menurut opini kami, laporan keuangan In our opinion, the accompanying consolidated
konsolidasian terlampir menyajikan secara wajar, financial statements present fairly, in all material
dalam semua hal yang material, posisi keuangan respects, the consolidated financial position of the
konsolidasian Grup tanggal 31 Desember 2025, Group as of December 31, 2025, and its
serta kinerja keuangan dan arus kas consolidated financial performance and cash flows
konsolidasiannya untuk tahun yang berakhir pada for the year then ended, in accordance with
tanggal tersebut, sesuai dengan Standar Indonesian Financial Accounting Standards.
Akuntansi Keuangan di Indonesia.
i
KAP Purwanto Susanti dan Surja
Registered Public Accountants KMK No. 69/ MK/ SK/ 2025
A member firm of Ernst & Young Global Limited
Page 157
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 155
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Basis opini Basis for opinion
Kami melaksanakan audit kami berdasarkan We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Institut Standards on Auditing established by the
Akuntan Publik Indonesia (“ IAPI” ). Tanggung Indonesian Institute of Certified Public Accountants
jawab kami menurut standar tersebut diuraikan (“ IICPA” ). Our responsibilities under those
lebih lanjut dalam paragraf Tanggung Jawab standards are further described in the Auditor’s
Auditor terhadap Audit atas Laporan Keuangan Responsibilit ies for the Audit of the Consolidated
Konsolidasian pada laporan kami. Kami Financial St atements paragraph of our report.
independen terhadap Grup berdasarkan We are independent of the Group in accordance
ketentuan etika yang relevan dalam audit kami with the ethical requirements relevant to our audit
atas laporan keuangan konsolidasian di Indonesia, of the consolidated financial statements in
dan kami telah memenuhi tanggung jawab etika Indonesia, and we have fulfilled our other
lainnya berdasarkan ketentuan tersebut. Kami ethical responsibilities in accordance with such
yakin bahwa bukti audit yang telah kami peroleh requirements. We believe that the audit evidence
adalah cukup dan tepat untuk menyediakan suatu we have obt ained is sufficient and appropriate to
basis bagi opini kami. provide a basis for our opinion.
Hal audit ut ama Key audit mat t ers
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our
pertimbangan profesional kami, merupakan hal- professional judgment, were of most significance in
hal yang paling signifikan dalam audit kami atas our audit of the consolidated financial statements
laporan keuangan konsolidasian periode kini. Hal- of t he current period. Such key audit mat t ers were
hal audit utama tersebut disampaikan dalam addressed in the context of our audit of the
konteks audit kami atas laporan keuangan consolidated financial statements taken as a whole,
konsolidasian secara keseluruhan, dan dalam and in forming our opinion thereon, and we do not
merumuskan opini kami atas laporan keuangan provide a separate opinion on such key audit
konsolidasian terkait, dan kami tidak menyatakan matters. For each key audit matter below, our
suatu opini terpisah atas hal-hal audit utama description of how our audit addressed such key
tersebut. Untuk setiap hal audit utama di bawah audit matter is provided in such context.
ini, penjelasan kami tentang bagaimana audit
kami merespons hal tersebut disampaikan dalam
konteks tersebut.
ii
Page 158
2025 Management Business Company Corporate
156 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan Consolidated Financial Statements paragraph of
Konsolidasian pada laporan kami, termasuk our report, including in relation to the key audit
sehubungan dengan hal-hal audit utama yang matters communicated below. Accordingly, our
dikomunikasikan di bawah ini. Oleh karena itu, audit included the performance of procedures
audit kami mencakup pelaksanaan prosedur yang designed to respond to our assessment of the risks
didesain untuk merespons penilaian kami atas of material misst atement of the accompanying
risiko kesalahan penyajian material dalam laporan consolidated financial statements. The results of
keuangan konsolidasian terlampir. Hasil prosedur our audit procedures, including the procedures
audit kami, termasuk prosedur yang dilakukan performed to address the key audit matters below,
untuk merespons hal-hal audit utama di bawah ini, provide the basis for our opinion on the
menyediakan basis bagi opini kami atas laporan accompanying consolidated financial statements.
keuangan konsolidasian terlampir.
Estimasi atas cadangan minyak dan gas bumi Estimation of oil and gas reserves
Penjelasan atas hal audit utama: Description of the key audit matter:
Cadangan minyak dan gas bumi digunakan dalam Oil and gas reserves are used in the calculation of
perhitungan depresiasi, deplesi, dan amortisasi the depreciation, depletion and amortization
(“ DD&A” ) aset minyak dan gas bumi Grup, expenses (“ DD&A” ) of the Group’s oil and gas
pengujian penurunan nilai aset minyak dan gas properties, impairment testing of oil and gas
bumi, dan penilaian atas pemulihan aset pajak properties, and assessment of recoverability of
tangguhan dari kegiatan operasi minyak dan gas deferred tax assets related to oil and gas
bumi, yang merupakan pos material dalam operations, which are material line items in the
laporan keuangan konsolidasian terlampir. accompanying consolidated financial statements.
Grup telah melibatkan pakar internal The Group has involved management’s internal
(pakar cadangan) dan pakar eksternal manajemen experts (reservoir engineers) and external experts
(konsultan teknik perminyakan independen) (independent petroleum engineering consultants)
dalam estimasi cadangan minyak dan gas bumi. in the estimation of the oil and gas reserves.
iii
Page 159
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 157
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Estimasi atas cadangan minyak dan gas bumi Estimation of oil and gas reserves (continued)
(lanjutan)
Penjelasan atas hal audit utama: (lanjutan) Description of the key audit matter: (continued)
Sebagaimana diungkapkan pada Catatan 3 As described in Note 3 to the accompanying
atas laporan keuangan konsolidasian terlampir, consolidated financial statements, the estimation
estimasi atas cadangan minyak dan gas bumi of oil and gas reserves is complex as t he
bersifat kompleks karena asumsi yang digunakan assumptions used involve significant judgments
melibatkan pertimbangan dan estimasi signifikan, and estimates, among others, price assumptions,
antara lain, asumsi harga, prakiraan produksi, dan production forecasts, and future operating and
asumsi biaya operasi dan biaya modal masa capital cost assumptions.
depan.
Pengungkapan manajemen atas DD&A dan The management’s disclosures on the DD&A and
pengujian penurunan nilai aset minyak dan gas impairment test of oil and gas properties, and
bumi, serta penilaian atas pemulihan aset pajak assessment of recoverability of deferred tax assets
tangguhan masing-masing diungkapkan pada are included in Notes 18 and 38, respectively,
Catatan 18 dan 38 atas laporan keuangan to the accompanying consolidated financial
konsolidasian terlampir. statements.
Respons audit: Audit response:
Kami memeroleh pemahaman atas proses We obtained an understanding of the oil and
estimasi cadangan minyak dan gas bumi Grup gas reserves estimation process of the Group
dan kami menilai kompetensi, kapabilitas, dan and assessed the competence, capability, and
objektivitas pakar internal dan eksternal object ivity of management’s internal and external
manajemen yang terlibat dalam proses estimasi experts who were involved in the estimation
cadangan minyak dan gas bumi. process of the oil and gas reserves.
iv
Page 160
2025 Management Business Company Corporate
158 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Estimasi atas cadangan minyak dan gas bumi Estimation of oil and gas reserves (continued)
(lanjutan)
Respons audit: (lanjutan) Audit response: (continued)
Kami menganalisis pergerakan material atas We analyzed material movements in the reserves
cadangan minyak dan gas bumi pada tahun volume during the year and assessed whether the
berjalan dan menilai apakah kenaikan atau increases or decreases in the reserves volume had
penurunan tersebut terjadi pada periode taken place in the proper period through inspection
yang tepat melalui inspeksi dokumen pendukung of underlying supporting documents, such as
seperti laporan produksi, rencana pengembangan production reports, plan of developments and gas
dan perjanjian pasokan gas, jika dapat diterapkan. supply agreements, as applicable. We evaluated
Kami mengevaluasi kewajaran asumsi-asumsi the reasonableness of the key assumptions
utama yang mendasari penentuan cadangan underlying reserves determination by comparing
dengan membandingkan prakiraan harga forecast oil and gas prices used in the reserves
minyak dan gas bumi yang digunakan calculation with price forecasts published by
dalam perhitungan cadangan dengan prakiraan independent global energy firm and by comparing
harga yang dipublikasikan oleh perusahaan production volume, production costs and capital
energi independen global serta membandingkan expenditures forecasts with the Group’s long-term
prakiraan volume produksi, biaya produksi dan planning and historical results.
biaya modal dengan rencana jangka panjang Grup
dan hasil historis.
Kami menguji apakah data pada laporan We tested whether the data in the oil and gas
cadangan minyak dan gas bumi telah secara reserves report were consistently applied in the
konsisten digunakan pada pos laporan keuangan related financial statement items, such as DD&A,
terkait, seperti DD&A, pengujian penurunan nilai impairment test of oil and gas properties, and
aset minyak dan gas bumi, serta penilaian atas assessment of recoverability of deferred tax assets
pemulihan aset pajak tangguhan dari operasi related to oil and gas operations.
minyak dan gas bumi.
v
Page 161
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 159
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kombinasi bisnis Business combination
Penjelasan atas hal audit utama: Description of the key audit matter:
Pada bulan Juni 2025, Grup telah menyelesaikan In June 2025, the Group completed the acquisition
akuisisi 100% kepemilikan saham atas Fortuna of 100% share ownership in Fortuna International
International (Barbados), Inc. (“ FIBI” ) yang (Barbados) Inc. (“ FIBI” ) which holds 24% indirect
memilik 24% hak partisipasi tidak langsung pada participating interest in Corridor block located in
blok Corridor yang berlokasi di Indonesia dengan Indonesia for a total consideration transferred of
jumlah imbalan yang dialihkan sebesar AS$394,3 US$394.3 million.
juta.
Sesuai dengan PSAK 103: Kombinasi Bisnis, Grup In accordance with PSAK 103: Business
telah melakukan alokasi harga pembelian (“ PPA” ) Combination, the Group performed a provisional
sementara pada tanggal akuisisi, di mana jumlah purchase price allocation (“ PPA” ) at the acquisition
imbalan yang dialihkan dialokasikan pada nilai date, whereby the total consideration transferred
wajar aset teridentifikasi yang diperoleh dan was allocated to the fair values of the identifiable
liabilitas yang diambil alih, yang menghasilkan assets acquired and liabilities assumed, resulting in
goodwill sebesar AS$101,2 juta. a goodwill amounting to US$101.2 million.
Akuntansi kombinasi bisnis merupakan hal audit The business combination accounting is a key audit
utama karena dampaknya yang material matter because of the material impact s to the
terhadap laporan keuangan konsolidasian dan consolidated financial statements and significant
pertimbangan signifikan digunakan oleh judgment s have been exercised by management
manajemen dalam menentukan estimasi awal in establishing the initial estimates of the fair
nilai wajar aset teridentifikasi yang diperoleh dan values of the identifiable assets acquired and
liabilitas yang diambil alih, termasuk penilaian liabilities assumed, including the valuation of the
atas aset minyak dan gas bumi yang diperoleh, acquired oil and gas properties, which rely in part
yang sebagian bergant ung pada beberapa on certain key assumptions. The Group has
asumsi-asumsi utama. Grup telah melibatkan involved management’s internal experts (reservoir
pakar internal (pakar cadangan dan pakar engineers and valuation specialists) and external
penilaian) dan pakar eksternal manajemen experts (independent petroleum engineering
(konsultan teknik perminyakan independen) consultants) in the valuation of the acquired oil and
dalam melakukan penilaian aset minyak dan gas gas properties.
bumi yang diperoleh.
Kebijakan akuntansi Grup untuk kombinasi bisnis The Group's accounting policy for business
disampaikan pada Catatan 2 atas laporan combinations is set out in Note 2 to the
keuangan konsolidasian terlampir dan rincian accompanying consolidated financial statements
atas kombinasi bisnis diungkapkan pada Catatan and the details of the business combination are
47 atas laporan keuangan konsolidasian disclosed in Note 47 to the accompanying
terlampir. consolidated financial statements.
vi
Page 162
2025 Management Business Company Corporate
160 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Hal-hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kombinasi bisnis (lanjutan) Business combination (continued)
Respons audit: Audit response:
Kami memeroleh pemahaman atas metodologi We obtained an understanding of management’s
dan proses akuntansi kombinasi bisnis. Kami methodology and business combination accounting
memeroleh dan mengevaluasi perjanjian jual beli processes. We obtained and evaluated the sale and
untuk memeroleh pemahaman atas transaksi purchase agreement to gain understanding of the
tersebut dan untuk memastikan konsistensi transaction and to ensure consistency between
antara akuntansi kombinasi bisnis dengan syarat business combination accounting and the terms
dan ketentuan dalam perjanjian jual beli and conditions in the sale and purchase and
dan perjanjian lain yang berhubungan. Kami other related agreements. We evaluated the
mengevaluasi kesesuaian proses manajemen appropriateness of the management’s process in
dalam mengidentifikasi aset yang diperoleh dan identifying the assets acquired and liabilities
liabilitas yang diambil alih. assumed.
Kami menguji akurasi dan kelengkapan PPA dan We tested the accuracy and complet eness of the
perhitungan pendukungnya dengan sumber data PPA and its supporting calculations to source
dan perjanjian yang mendasari. inputs and underlying agreement.
Kami mengevaluasi penilaian atas aset minyak We evaluated the valuation of the acquired oil and
dan gas bumi yang diperoleh, yang ditentukan gas properties, which are based on estimated
berdasarkan arus kas masa depan dan laporan future cash flows and oil and gas reserves report.
cadangan minyak dan gas bumi. Kami menilai We assessed the competency, capability, and
kompetensi, kapabilitas, dan objektivitas pakar object ivity of management’s internal and external
internal dan eksternal manajemen yang terlibat experts who were involved in the valuation of the
dalam melakukan penilaian aset minyak dan gas acquired oil and gas properties. We obtained the
bumi yang diperoleh. Kami memeroleh laporan reserves report on the oil and gas properties and
cadangan minyak dan gas bumi dan memint a inquired with management’s reserves experts to
keterangan kepada pakar cadangan manajemen understand whether the reserves estimates
untuk memperoleh pemahaman apakah estimasi are consistent with the Group’s reserves policy.
cadangan telah konsisten dengan kebijakan We evaluated the reasonableness of key
cadangan Grup. Kami mengevaluasi kewajaran assumptions used in the valuation of the acquired
asumsi-asumsi utama yang digunakan dalam oil and gas properties such as the future oil and gas
penilaian aset minyak dan gas bumi yang prices used by comparing with forecast of oil and
diperoleh seperti harga minyak dan gas masa gas prices published by independent global energy
depan dengan membandingkannya dengan firm. We involved our auditor’s internal expert to
prakiraan harga minyak dan gas bumi yang test the appropriateness of discount rate applied to
dipublikasikan oleh perusahaan energi the future cash flows.
independen global. Kami melibatkan pakar auditor
internal untuk menguji kesesuaian tingkat
diskonto yang digunakan atas arus kas masa
depan.
vii
Page 163
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 161
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Hal-hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kombinasi bisnis (lanjutan) Business combination (continued)
Kami mengevaluasi kecukupan pengungkapan We evaluated the adequacy of disclosures related
sehubungan dengan kombinasi bisnis ini pada to this business combination in the notes to the
catatan atas laporan keuangan konsolidasian accompanying consolidated financial statements.
terlampir.
Informasi lain Ot her informat ion
Manajemen bertanggung jawab atas informasi Management is responsible for t he ot her
lain. Informasi lain terdiri dari informasi yang information. Other information comprises the
tercantum dalam Laporan Tahunan 2025 information included in the 2025 Annual Report
PT Medco Energi Internasional Tbk (“ Laporan PT Medco Energi Internasional Tbk (the “ Annual
Tahunan” ) selain laporan keuangan konsolidasian Report” ) other than the accompanying
terlampir dan laporan auditor independen kami. consolidated financial statements and our
Laporan Tahunan diharapkan akan tersedia bagi independent auditor’s report thereon. The Annual
kami setelah tanggal laporan auditor independen Report is expect ed to be made available to us after
ini. the date of this independent auditor’s report.
Opini kami atas laporan keuangan konsolidasian Our opinion on the accompanying consolidated
terlampir tidak mencakup Laporan Tahunan, dan financial statements does not cover the Annual
oleh karena itu, kami tidak menyatakan bentuk Report, and accordingly, we do not express any
keyakinan apapun atas Laporan Tahunan form of assurance on the Annual Report.
tersebut.
Sehubungan dengan audit kami atas laporan In connection with our audit of the accompanying
keuangan konsolidasian terlampir, tanggung consolidated financial statements, our
jawab kami adalah untuk membaca Laporan responsibilit y is to read the Annual Report when it
Tahunan ketika tersedia dan, dalam becomes available and, in doing so, consider
melaksanakannya, mempertimbangkan apakah whether the Annual Report is materially
Laporan Tahunan mengandung inconsistent with the accompanying consolidated
ketidakkonsistensian material dengan laporan financial statements or our knowledge obtained in
keuangan konsolidasian terlampir atau the audit, or otherwise appears to be materially
pemahaman yang kami peroleh selama audit, misstated.
atau mengandung kesalahan penyajian material.
Ketika kami membaca Laporan Tahunan, jika When we read the Annual Report, if we conclude
kami menyimpulkan bahwa terdapat suatu that there is a material misstatement therein, we
kesalahan penyajian material di dalamnya, kami are required to communicate the matter to those
diharuskan untuk mengomunikasikan hal charged with governance and take appropriate
tersebut kepada pihak yang bertanggung jawab actions based on the applicable laws and
atas tata kelola dan melakukan tindakan yang regulations.
tepat berdasarkan peraturan perundang-
undangan yang berlaku.
viii
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2025 Management Business Company Corporate
162 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap charged wit h governance for t he consolidat ed
laporan keuangan konsolidasian financial st at ement s
Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation and
dan penyajian wajar laporan keuangan fair presentation of the consolidated financial
konsolidasian tersebut sesuai dengan Standar statements in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia, dan atas Accounting Standards, and for such internal
pengendalian internal yang dianggap perlu oleh cont rol as management det ermines is necessary
manajemen untuk memungkinkan penyusunan to enable the preparation of consolidated financial
laporan keuangan konsolidasian yang bebas statements that are free from material
dari kesalahan penyajian material, baik yang misstatement, whether due to fraud or error.
disebabkan oleh kecurangan maupun kesalahan.
Dalam penyusunan laporan keuangan In preparing the consolidated financial statements,
konsolidasian, manajemen bertanggung jawab management is responsible for assessing the
untuk menilai kemampuan Grup dalam Group’s ability to continue as a going concern,
mempertahankan kelangsungan usahanya, disclosing, as applicable, matters related to going
mengungkapkan, sesuai dengan kondisinya, hal- concern, and using the going concern basis of
hal yang berkaitan dengan kelangsungan usaha, accounting, unless management either intends to
dan menggunakan basis akuntansi kelangsungan liquidate the Group or to cease its operations, or
usaha, kecuali manajemen memiliki intensi untuk has no realistic alternative but to do so.
melikuidasi Grup atau menghentikan operasi, atau
tidak memiliki alternatif yang realistis selain
melaksanakannya.
Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for
bertanggung jawab untuk mengawasi proses overseeing the Group’s financial reporting process.
pelaporan keuangan Grup.
ix
Page 165
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 163
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian consolidat ed financial st at ement s
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obt ain reasonable assurance
memadai tentang apakah laporan keuangan about whether the consolidated financial
konsolidasian secara keseluruhan bebas dari statements taken as a whole are free from material
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error, and
disebabkan oleh kecurangan maupun kesalahan, to issue an independent auditor’s report that
dan untuk menerbitkan laporan auditor includes our opinion. Reasonable assurance
independen yang mencakup opini kami. Keyakinan is a high level of assurance, but is not a guarantee
memadai merupakan suatu tingkat keyakinan that an audit conducted in accordance with
tinggi, namun bukan merupakan suatu jaminan Standards on Auditing established by the IICPA will
bahwa audit yang dilaksanakan berdasarkan always detect a material misstatement when it
Standar Audit yang ditet apkan oleh IAPI akan exists. Misstatement s can arise from fraud or error
selalu mendeteksi kesalahan penyajian material and are considered material if, individually or in the
ketika hal tersebut ada. Kesalahan penyajian aggregate, they could reasonably be expected to
dapat disebabkan oleh kecurangan maupun influence the economic decisions of users taken
kesalahan dan dianggap material jika, baik secara on the basis of these consolidated financial
individual maupun agregat, dapat diekspektasikan statements.
secara wajar akan memengaruhi keputusan
ekonomi yang diambil oleh pengguna berdasarkan
laporan keuangan konsolidasian tersebut.
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, Auditing established by the IICPA, we exercise
kami menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga:
Mengidentifikasi dan menilai risiko kesalahan Ident ify and assess the risks of material
penyajian material dalam laporan keuangan misstatement of the consolidated financial
konsolidasian, baik yang disebabkan oleh statements, whether due to fraud or error,
kecurangan maupun kesalahan, mendesain design and perform audit procedures
dan melaksanakan prosedur audit yang responsive to such risks, and obtain audit
responsif terhadap risiko tersebut, serta evidence that is sufficient and appropriate to
memeroleh bukti audit yang cukup dan tepat provide a basis for our opinion. The risk of not
untuk menyediakan basis bagi opini kami. detecting a material misstatement resulting
Risiko tidak terdeteksinya suatu kesalahan from fraud is higher than for one resulting from
penyajian material yang disebabkan oleh error, as fraud may involve collusion, forgery,
kecurangan lebih tinggi dari yang disebabkan intentional omissions, misrepresentations, or
oleh kesalahan, karena kecurangan dapat override of internal control.
melibatkan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
pengabaian atas pengendalian internal.
x
Page 166
2025 Management Business Company Corporate
164 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, Auditing established by the IICPA, we exercise
kami menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Memeroleh suatu pemahaman tentang Obtain an understanding of internal control
pengendalian internal yang relevan dengan relevant to the audit in order to design audit
audit untuk mendesain prosedur audit yang procedures that are appropriate in the
tepat sesuai dengan kondisinya, tetapi bukan circumstances, but not for the purpose of
untuk tujuan menyatakan opini atas expressing an opinion on t he effect iveness of
keefektivitasan pengendalian internal Grup. the Group’s internal control.
Mengevaluasi ketepatan kebijakan akuntansi Evaluate the appropriateness of accounting
yang digunakan serta kewajaran estimasi policies used and the reasonableness of
akuntansi dan pengungkapan terkait yang accounting estimates and related disclosures
dibuat oleh manajemen. made by management.
Menyimpulkan ketepatan penggunaan basis Conclude on the appropriateness of
akuntansi kelangsungan usaha oleh management's use of the going concern basis
manajemen dan, berdasarkan bukti audit yang of accounting and, based on the audit evidence
diperoleh, apakah terdapat suatu obtained, whether a material uncertainty exists
ketidakpastian material yang terkait dengan related to events or conditions that may cast
peristiwa atau kondisi yang dapat significant doubt on the Group's ability to
menyebabkan keraguan signifikan atas continue as a going concern. If we conclude
kemampuan Grup untuk mempertahankan that a material uncertainty exists, we are
kelangsungan usahanya. Ketika kami required to draw attention in our independent
menyimpulkan bahwa terdapat suatu auditor’s report to the related disclosures in
ketidakpastian material, kami diharuskan the consolidated financial statements or, if
untuk menarik perhatian dalam laporan such disclosures are inadequate, to modify our
auditor independen kami ke pengungkapan opinion. Our conclusion is based on the audit
terkait dalam laporan keuangan konsolidasian evidence obtained up to the date of our
atau, jika pengungkapan tersebut tidak independent auditor’s report. However, future
memadai, memodifikasi opini kami. events or conditions may cause the Group to
Kesimpulan kami didasarkan pada bukti audit cease to continue as a going concern.
yang diperoleh hingga tanggal laporan auditor
independen kami. Namun, peristiwa atau
kondisi masa depan dapat menyebabkan Grup
tidak dapat mempertahankan kelangsungan
usaha.
xi
Page 167
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 165
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00450/ 2.1505/ AU.1/ 02/ 0696- Report No. 00450/ 2.1505/ AU.1/ 02/ 0696-
6/ 1/ IV/ 2026 (lanjutan) 6/ 1/ IV/ 2026 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, Auditing established by the IICPA, we exercise
kami menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Mengevaluasi penyajian, struktur, dan isi Evaluate the overall presentation, structure,
laporan keuangan konsolidasian secara and content of the consolidated financial
keseluruhan, termasuk pengungkapannya, statements, including the disclosures, and
dan apakah laporan keuangan konsolidasian whether the consolidated financial statements
mencerminkan transaksi dan peristiwa yang represent the underlying transactions and
mendasarinya dengan suatu cara yang events in a manner that achieves fair
mencapai penyajian wajar. present ation.
Memeroleh bukti audit yang cukup dan tepat Obtain sufficient appropriate audit evidence
terkait informasi keuangan entitas atau regarding the financial information of the
aktivitas bisnis dalam Grup untuk menyatakan entities or business activities within the Group
opini atas laporan keuangan konsolidasian. to express an opinion on the consolidated
Kami bertanggung jawab atas arahan, financial statements. We are responsible for
supervisi, dan pelaksanaan audit grup. Kami the direction, supervision, and performance of
tetap bertanggung jawab sepenuhnya atas the group audit. We remain solely responsible
opini audit kami. for our audit opinion.
Kami mengomunikasikan kepada pihak yang We communicate with those charged with
bertanggung jawab atas tata kelola mengenai, governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang planned scope and timing of the audit and
direncanakan atas audit serta temuan audit significant audit findings, including any significant
signifikan, termasuk setiap defisiensi signifikan deficiencies in internal control that we identify
dalam pengendalian internal yang teridentifikasi during our audit.
oleh kami selama audit.
Kami juga memberikan suatu pernyataan kepada We also provide those charged with governance
pihak yang bertanggung jawab atas tata kelola with a statement that we have complied
bahwa kami telah mematuhi ketentuan etika with relevant ethical requirements regarding
yang relevan mengenai independensi, dan independence, and to communicate with them
mengomunikasikan kepada pihak tersebut seluruh all relationships and other matters that may
hubungan, serta hal-hal lain yang dianggap secara reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami, independence, and where applicable, related
dan, jika relevan, pengamanan terkait. safeguards.
xii
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2025 Management Business Company Corporate 166 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
Page 169
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 167
The original consolidated financial statements
included herein are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT
KONSOLIDASIAN OF FINANCIAL POSITION
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
2025 2024
Notes
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 2,4 569.106.521 637.024.448 Cash and cash equivalents
Investasi jangka pendek 2,5 — 11.025.523 Short-term investments
Deposito dan rekening bank yang Restricted time deposits and cash
dibatasi penggunaannya 2,13 59.818.375 60.411.625 in banks
Piutang usaha 2,6 Trade receivables
- Pihak berelasi 23.483 8.442 Related parties -
- Pihak ketiga 392.919.324 361.303.415 Third parties -
Piutang lain-lain 2,7 Other receivables
- Pihak berelasi 158.088.018 109.155.022 Related parties -
- Pihak ketiga 121.174.654 120.933.309 Third parties -
Piutang sewa pembiayaan - bagian
yang jatuh tempo dalam satu Finance lease receivables -
tahun 2,8 32.938.882 30.826.137 current maturities
Aset keuangan konsesi - bagian
yang jatuh tempo dalam satu Concession financial assets -
tahun 2,9 34.124.246 33.383.537 current maturities
Persediaan 2,10 144.461.794 156.124.598 Inventories
Pajak dibayar di muka 2,11 19.117.738 2.260.789 Prepaid taxes
Estimasi pengembalian pajak 2,11 1.910.961 1.776.473 Estimated claim for tax refunds
Investasi pada saham 2,14 — 115.657.000 Investment in shares
Beban dibayar di muka 2,12 11.585.573 9.572.024 Prepaid expenses
Aset derivatif 2,27 1.365.489 1.873.705 Derivative assets
Aset dimiliki untuk dijual 2,39 9.462.160 43.461.065 Assets held for sale
Aset lancar lain-lain 20 74.229.156 122.179.138 Other current assets
Jumlah Aset Lancar 1.630.326.374 1.816.976.250 Total Current Assets
ASET TIDAK LANCAR NON-CURRENT ASSETS
Piutang lain-lain 2,7 Other receivables
- Pihak berelasi 681.428 502.193 Related parties -
- Pihak ketiga 19.308.215 15.312.282 Third parties -
Piutang sewa pembiayaan - setelah
dikurangi bagian yang jatuh tempo Finance lease receivables - net of
dalam satu tahun 2,8 207.339.725 119.966.586 current maturities
Aset keuangan konsesi - setelah
dikurangi bagian yang jatuh tempo Concession financial assets - net
dalam satu tahun 2,9 555.229.858 547.347.966 of current maturities
Deposito dan rekening bank yang Restricted time deposits and cash
dibatasi penggunaannya 2,13 3.891.761 — in banks
Estimasi pengembalian pajak 2,11 23.035.192 4.621.359 Estimated claim for tax refunds
Aset pajak tangguhan 2,38 108.814.080 130.565.420 Deferred tax assets
Investasi pada saham 2,14 1.866.174.845 1.819.827.099 Investment in shares
Aset tetap 2,15 141.681.535 109.403.217 Property, plant and equipment
Aset hak guna 2,16 204.647.517 235.228.298 Right-of-use assets
Aset eksplorasi dan evaluasi 2,17 302.691.162 241.560.433 Exploration and evaluation assets
Aset minyak dan gas bumi 2,18 2.987.654.355 2.672.120.077 Oil and gas properties
Goodwill 2,19 140.271.937 39.066.445 Goodwill
Aset derivatif 2,27 18.446.924 25.924.201 Derivative assets
Aset lain-lain 20 152.468.157 148.468.539 Other assets
Jumlah Aset Tidak Lancar 6.732.336.691 6.109.914.115 Total Non-current Assets
JUMLAH ASET 8.362.663.065 7.926.890.365 TOTAL ASSETS
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
1
Page 170
2025 Management Business Company Corporate
168 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements
included herein are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT
KONSOLIDASIAN (lanjutan) OF FINANCIAL POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Pinjaman bank jangka pendek 2,28 2.979.383 54.691.856 Short-term bank loans
Utang usaha 2,21 Trade payables
- Pihak berelasi 40.654.452 37.769.518 Related parties -
- Pihak ketiga 234.857.701 305.828.073 Third parties -
Utang lain-lain 2,23 Other payables
- Pihak berelasi 31.974.578 15.168.241 Related parties -
- Pihak ketiga 144.142.236 132.091.345 Third parties -
Utang pajak 2,25 99.342.911 76.869.454 Taxes payable
Accrued expenses and other
Biaya akrual dan provisi lain-lain 2,26 261.487.071 276.060.037 provisions
Liabilitas derivatif 2,27 6.606.096 12.653.816 Derivative liabilities
Liabilitas yang secara langsung
berhubungan dengan aset dimiliki Liabilities directly associated with
untuk dijual 2,39 14.805.155 13.817.699 assets held for sale
Pinjaman jangka panjang yang jatuh Current maturities of long-term
tempo dalam satu tahun 2 debts
- Pinjaman bank 28 196.398.717 162.501.916 Bank loans -
- Pinjaman dari instansi Loans from non-bank - financial -
keuangan non-bank 29 4.019.024 14.871 institutions .
- Obligasi Rupiah 29 48.316.555 211.478.310 Rupiah bonds -
- Obligasi Dolar AS 29 91.563.279 — US Dollar bonds -
Liabilitas sewa 24 95.819.308 130.372.051 Lease liabilities
Liabilitas kontrak 22 113.747.907 76.068.456 Contract liabilities
Jumlah Liabilitas Jangka Pendek 1.386.714.373 1.505.385.643 Total Current Liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Liabilitas jangka panjang setelah
dikurangi bagian yang jatuh tempo Long-term liabilities - net of current
dalam satu tahun 2 maturities
- Pinjaman bank 28 1.410.351.161 1.028.429.769 Bank loans -
- Pinjaman dari instansi Loans from non-bank - financial -
keuangan non-bank 29 100.971.156 69.990.180 institutions .
- Obligasi Rupiah 29 575.633.622 330.777.880 Rupiah bonds -
- Obligasi Dolar AS 29 1.216.079.467 1.442.197.561 US Dollar bonds -
Liabilitas sewa 24 156.760.446 147.515.311 Lease liabilities
Liabilitas kontrak 22 48.710.349 83.090.632 Contract liabilities
Utang lain-lain 2,23 80.457.921 91.048.352 Other payables
Liabilitas pajak tangguhan 2,38 779.941.770 686.476.118 Deferred tax liabilities
Liabilitas imbalan kerja jangka Long-term employee benefits
panjang 2,42 46.937.038 35.598.353 liabilities
Liabilitas derivatif 2,27 45.910.312 30.742.102 Derivative liabilities
Asset abandonment and site
Liabilitas pembongkaran aset dan restoration obligations and other
restorasi area dan provisi lain-lain 2,51 154.083.944 124.606.895 provisions
Jumlah Liabilitas Jangka Panjang 4.615.837.186 4.070.473.153 Total Non-current Liabilities
Jumlah Liabilitas 6.002.551.559 5.575.858.796 Total Liabilities
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
2
Page 171
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 169
The original consolidated financial statements
included herein are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT
KONSOLIDASIAN (lanjutan) OF FINANCIAL POSITION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
(lanjutan) (continued)
EKUITAS EQUITY
Modal saham - nilai nominal Capital stock - par value
Rp25 per saham Rp25 par value per share
- Modal dasar Authorized -
55.000.000.000 saham pada
tanggal 31 Desember 2025 dan 55,000,000,000 shares as of
2024 December 31, 2025 and 2024
- Diterbitkan dan disetor penuh Issued and fully paid -
25.136.231.252 saham pada
tanggal 31 Desember 2025 dan 25,136,231,252 shares as of
2024 121.798.946 121.798.946 December 31, 2025 and 2024
- Saham treasuri Treasury shares -
455.609.908 saham pada tanggal 455,609,908 shares as of
31 Desember 2025 dan December 31, 2025 and
71.453.088 saham pada tanggal 71,453,088 shares as of
31 Desember 2024 (2.207.682) (346.230) December 31, 2024
31 119.591.264 121.452.716
Tambahan modal disetor 32 476.689.503 498.076.092 Additional paid-in capital
Dampak perubahan transaksi Effects of changes in equity
ekuitas entitas anak/entitas transactions of subsidiaries/
asosiasi 33 (48.782.535) (72.514.729) associates
Selisih kurs karena penjabaran
laporan keuangan 2 (34.338.295) (35.151.908) Translation adjustments
Penyesuaian nilai wajar atas Fair value adjustment on cash flow
instrumen lindung nilai arus kas 2 27.125.896 11.809.109 hedging instruments
Selisih nilai transaksi dengan Difference in value of transactions
kepentingan nonpengendali 2 6.400.562 6.400.562 with non-controlling interests
Bagian laba/(rugi) komprehensif lain Share of other comprehensive
dari entitas asosiasi dan ventura income/(loss) of associates and
bersama 14 (715.693) 6.296.231 joint venture
Pengukuran kembali program Remeasurement of defined benefit
imbalan pasti 42 41.979.157 37.729.025 program
Saldo laba Retained earnings
- Ditentukan penggunaannya 10.435.835 10.435.835 Appropriated -
- Tidak ditentukan penggunaannya 1.555.001.288 1.534.193.218 Unappropriated -
Jumlah ekuitas yang dapat Total equity attributable to the
diatribusikan kepada pemilik equity holders of the parent
entitas induk 2.153.386.982 2.118.726.151 company
Kepentingan nonpengendali 30 206.724.524 232.305.418 Non-controlling interests
Jumlah Ekuitas 2.360.111.506 2.351.031.569 Total Equity
JUMLAH LIABILITAS DAN TOTAL LIABILITIES AND
EKUITAS 8.362.663.065 7.926.890.365 EQUITY
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
3
Page 172
2025 Management Business Company Corporate
170 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements
included herein are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT OF PROFIT
KOMPREHENSIF LAIN KONSOLIDASIAN OR LOSS AND OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir pada For the Year Ended
Tanggal 31 Desember 2025 December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
OPERASI YANG DILANJUTKAN CONTINUING OPERATIONS
PENDAPATAN REVENUES
Pendapatan dari kontrak dengan Revenue from contracts with
pelanggan 2,34 2.343.476.916 2.349.410.717 customers
Pendapatan keuangan 2,34 51.559.053 49.779.838 Finance income
JUMLAH PENDAPATAN 2.395.035.969 2.399.190.555 TOTAL REVENUES
BEBAN POKOK PENDAPATAN
DAN BIAYA LANGSUNG COST OF REVENUES AND
LAINNYA OTHER DIRECT COSTS
Penyusutan, deplesi dan 2,15,16, Depreciation, depletion and
amortisasi 18,35 547.503.076 547.526.380 amortization
Biaya produksi dan lifting 2,35 470.485.103 417.391.591 Production and lifting costs
Biaya pembelian minyak mentah 2,35 303.970.629 342.597.021 Cost of crude oil purchases
Beban pokok penjualan tenaga Cost of electric power sales and
listrik dan jasa terkait lainnya 2,35 81.648.418 122.415.206 related services
Biaya jasa 2 41.196.782 28.422.734 Cost of services
Beban eksplorasi 2,35 14.121.041 7.369.834 Exploration expenses
JUMLAH BEBAN POKOK
PENDAPATAN DAN BIAYA TOTAL COST OF REVENUES
LANGSUNG LAINNYA 1.458.925.049 1.465.722.766 AND OTHER DIRECT COSTS
LABA KOTOR 936.110.920 933.467.789 GROSS PROFIT
Beban penjualan, umum dan Selling, general and administrative
administrasi 2,36 (227.614.342) (216.890.499) expenses
Beban pendanaan 24,28,29 (324.239.414) (307.332.759) Finance costs
Keuntungan penyesuaian nilai Gain on fair value adjustment of
wajar aset keuangan 2,14 22.715.386 29.957.902 financial assets
Pendapatan bunga 37 34.094.456 85.868.447 Interest income
Bagian laba dari entitas asosiasi Share of net profit of associates
dan ventura bersama 2,14 87.929.583 113.101.263 and joint venture
Keuntungan pembelian diskon 48 – 51.586.361 Bargain purchase
Pendapatan dividen 14 20.590.500 18.870.000 Dividend income
Kerugian dari kombinasi bisnis Loss on business combination
–
secara bertahap 2,14 (15.440.850) achieved in stages
14,15,17,
(128.785.128) (29.455.169)
Kerugian penurunan nilai aset 18 Loss on impairment of assets
Beban lain-lain 37 (38.369.653) (21.136.896) Other expenses
Pendapatan lain-lain 37 21.572.213 28.454.800 Other income
LABA SEBELUM PAJAK INCOME BEFORE TAX
PENGHASILAN DARI OPERASI EXPENSE FROM CONTINUING
YANG DILANJUTKAN 404.004.521 671.050.389 OPERATIONS
BEBAN PAJAK PENGHASILAN 2,38 (290.568.895) (289.339.733) INCOME TAX EXPENSE
PROFIT FOR THE YEAR ENDED
LABA TAHUN BERJALAN DARI FROM CONTINUING
OPERASI YANG DILANJUTKAN 113.435.626 381.710.656 OPERATION
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
4
Page 173
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 171
The original consolidated financial statements
included herein are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT
KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) OF PROFIT OR LOSS AND OTHER
Untuk Tahun yang Berakhir pada COMPREHENSIVE INCOME (continued)
Tanggal 31 Desember 2025 For the Year Ended
(Disajikan dalam Dolar Amerika Serikat, December 31, 2025
kecuali dinyatakan lain) (Expressed in United States Dollar,
unless otherwise stated)
Catatan/
Notes 2025 2024
OPERASI YANG DIHENTIKAN DISCONTINUED OPERATIONS
Laba/(Rugi) setelah beban pajak Profit/(Loss) after income tax
penghasilan dari operasi yang expense from discontinued
dihentikan 39 108.540 (1.504.141) operations
LABA TAHUN BERJALAN 113.544.166 380.206.515 PROFIT FOR THE YEAR
PENGHASILAN OTHER COMPREHENSIVE
KOMPREHENSIF LAIN INCOME
PENGHASILAN OTHER COMPREHENSIVE
KOMPREHENSIF LAIN YANG INCOME THAT WILL BE
AKAN DIREKLASIFIKASI KE RECLASSIFIED TO PROFIT OR
LABA RUGI LOSS
Selisih kurs karena penjabaran
laporan keuangan (2.706.416) (2.193.713) Translation adjustment
Penyesuaian nilai wajar atas
instrumen lindung nilai arus kas Fair value adjustment on cash flow
- setelah dikurangi pajak 27 13.186.146 (4.803.600) hedging instruments - net of tax
Bagian rugi komprehensif lain Share of other comprehensive
entitas asosiasi dan ventura loss of associates and joint
bersama (7.011.924) (5.230.508) ventures
PENGHASILAN
KOMPREHENSIF LAIN YANG OTHER COMPREHENSIVE
TIDAK AKAN INCOME THAT WILL NOT BE
DIREKLASIFIKASI KE LABA RECLASSIFIED TO PROFIT OR
RUGI LOSS
Pengukuran kembali program Remeasurement of defined benefit
imbalan kerja 3.252.882 (136.556) program
Pajak penghasilan terkait dengan Income tax related to the account
pos yang tidak that will not be reclassified to
direklasifikasikan ke laba rugi 933.007 (59.848) profit or loss
JUMLAH LABA
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 121.197.861 367.782.290 INCOME FOR THE YEAR
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
5
Page 174
2025 Management Business Company Corporate
172 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements
included herein are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENT
KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) OF PROFIT OR LOSS AND OTHER
Untuk Tahun yang Berakhir pada COMPREHENSIVE INCOME (continued)
Tanggal 31 Desember 2025 For the Year Ended
(Disajikan dalam Dolar Amerika Serikat, December 31, 2025
kecuali dinyatakan lain) (Expressed in United States Dollar,
unless otherwise stated)
Catatan/
Notes 2025 2024
LABA TAHUN BERJALAN
YANG DAPAT DIATRIBUSIKAN PROFIT FOR THE YEAR
KEPADA ATTRIBUTABLE TO
Equity holders of the parent
Pemilik entitas induk company
Laba tahun berjalan dari operasi Profit for the year from continuing
yang dilanjutkan 100.815.458 368.862.409 operations
Laba/(Rugi) tahun berjalan dari Profit/(loss) for the year from
operasi yang tidak dilanjutkan 108.540 (1.504.141) discontinued operations
Laba tahun berjalan yang Profit for the year attributable to
diatribusikan kepada pemilik equity holders of the parent
entitas induk 100.923.998 367.358.268 company
Laba tahun berjalan yang
diatribusikan kepada Profit for the year attributable to
kepentingan nonpengendali 2,30 12.620.168 12.848.247 non-controlling interests
113.544.166 380.206.515
JUMLAH LABA
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME FOR THE YEAR
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Equity holders of the parent
Pemilik entitas induk company
Laba komprehensif tahun
berjalan dari operasi yang Comprehensive income for the
dilanjutkan 114.184.066 359.916.305 year from continuing operations
Laba/(rugi) komprehensif tahun Comprehensive income/(loss) for
berjalan dari operasi yang the year from discontinued
dihentikan 108.540 (1.504.141) operations
Laba komprehensif tahun Comprehensive income for the
berjalan yang diatribusikan year attributable to equity
kepada pemilik entitas induk 114.292.606 358.412.164 holders of the parent company
Laba komprehensif tahun
berjalan yang diatribusikan Comprehensive income for the
kepada kepentingan year attributable to non-
nonpengendali 2,30 6.905.255 9.370.126 controlling interests
121.197.861 367.782.290
LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE
YANG DAPAT DIATRIBUSIKAN ATTRIBUTABLE TO EQUITY
KEPADA PEMILIK ENTITAS HOLDERS OF THE PARENT
INDUK 2,40 0,00408 0,01466 COMPANY
LABA PER SAHAM DASAR BASIC EARNINGS PER SHARE
DARI OPERASI YANG ATTRIBUTABLE FROM
DILANJUTKAN YANG DAPAT CONTINUING OPERATIONS TO
DIATRIBUSIKAN KEPADA EQUITY HOLDERS OF THE
PEMILIK ENTITAS INDUK 2,40 0,00407 0,01472 PARENT COMPANY
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
6
Page 175
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 173
The original consolidated financial statements
included herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2025 For the Year Ended December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Diatribusikan kepada pemilik entitas induk/Attributable to the equity holders of the parent company
Bagian Laba
Dampak (Rugi)
Perubahan Komprehensif
Transaksi Penyesuaian Selisih Nilai Lain dari
Ekuitas Anak/ Nilai Wajar Transaksi Entitas
Entitas atas dengan Asosiasi dan
Asosiasi/ Instrumen Kepentingan Ventura
Effect of Selisih Kurs Lindung Nilai Nonpengendali/ Bersama/Share Pengukuran
Tambahan Changes in karena Arus Kas/Fair Difference in of Other Kembali Kepentingan
Modal Equity Penjabaran Value Value of Comprehensive Program Non-
Saldo Laba/Retained Earnings
Modal Saham Disetor/ Transactions Laporan Adjustment Transactions Income (Loss) Imbalan Pasti/ pengendali/
Saham/ Treasuri/ Additional of Keuangan/ on Cash Flow with Non- of Associates Remeasurement Ditentukan Tidak Ditentukan Non- Jumlah
Catatan/ Capital Treasury Paid in Subsidiaries/ Translation Hedging controlling and Joint of Defined Penggunaannya/ Pengunaannya/ controlling Ekuitas/Total
Notes Stock Shares Capital Associates Adjustment Instruments Interest Ventures Benefit Program Appropriated Unappropriated Jumlah/Total Interest Equity
Saldo tanggal 31 Desember 2023
Balance, December 31, 2023 121.798.946 (517.173) 496.239.219 (72.514.729) (37.367.121) 17.532.866 6.400.562 11.526.739 37.936.077 10.435.835 1.237.072.077 1.828.543.298 199.052.694 2.027.595.992
Laba tahun berjalan/
Profit for the year – – – – – – – – – – 367.358.268 367.358.268 12.848.247 380.206.515
Penghasilan komprehensif lain/
Other comprehensive income – – – – 2.215.213 (5.723.757) – (5.230.508) (207.052) – – (8.946.104) (3.478.121) (12.424.225)
Jumlah laba (rugi) komprehensif tahun berjalan/
Total comprehensive income (loss) for the period – – – – 2.215.213 (5.723.757) – (5.230.508) (207.052) – 367.358.268 358.412.164 9.370.126 367.782.290
Dividen tunai/
Cash dividend 41 – – – – – – – – – – (70.237.127) (70.237.127) – (70.237.127)
Pembagian dividen untuk kepentingan nonpengendali/
Dividend distribution to non-controlling interest 30 – – – – – – – – – – – – (9.816.625) (9.816.625)
Pembayaran berbasis saham/
Share-based payments 31,32 – 497.777 6.802.261 – – – – – – – – 7.300.038 – 7.300.038
Pembelian kembali saham/
Shares buyback 31,32 – (326.834) (4.965.388) – – – – – – – – (5.292.222) – (5.292.222)
Akuisisi entitas asosiasi menjadi entitas anak/
Acquisition of an associate to become a subsidiary 30 – – – – – – – – – – – – 33.699.223 33.699.223
Saldo tanggal 31 Desember 2024
Balance, December 31, 2024 121.798.946 (346.230) 498.076.092 (72.514.729) (35.151.908) 11.809.109 6.400.562 6.296.231 37.729.025 10.435.835 1.534.193.218 2.118.726.151 232.305.418 2.351.031.569
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan The accompanying notes to the consolidated financial statements form an integral part of these
dari laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements taken as a whole.
7
Page 176
2025 Management Business Company Corporate
174 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements
included herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN (lanjutan) CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (continued)
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2025 For the Year Ended December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Diatribusikan kepada pemilik entitas induk/Attributable to the equity holders of the parent company
Bagian Laba
Dampak (Rugi)
Perubahan Komprehensif
Transaksi Penyesuaian Selisih Nilai Lain dari
Ekuitas Anak/ Nilai Wajar Transaksi Entitas
Entitas atas dengan Asosiasi dan
Asosiasi/ Instrumen Kepentingan Ventura
Effect of Selisih Kurs Lindung Nilai Nonpengendali/ Bersama/Share Pengukuran
Tambahan Changes in karena Arus Kas/Fair Difference in of Other Kembali Kepentingan
Modal Equity Penjabaran Value Value of Comprehensive Program Non-
Saldo Laba/Retained Earnings
Modal Saham Disetor/ Transactions Laporan Adjustment Transactions Income (Loss) Imbalan Pasti/ pengendali/
Saham/ Treasuri/ Additional of Keuangan/ on Cash Flow with Non- of Associates Remeasurement Ditentukan Tidak Ditentukan Non- Jumlah
Catatan/ Capital Treasury Paid in Subsidiaries/ Translation Hedging controlling and Joint of Defined Penggunaannya/ Pengunaannya/ controlling Ekuitas/Total
Notes Stock Shares Capital Associates Adjustment Instruments Interest Ventures Benefit Program Appropriated Unappropriated Jumlah/Total Interest Equity
Saldo tanggal 31 Desember 2024
Balance, December 31, 2024 121.798.946 (346.230) 498.076.092 (72.514.729) (35.151.908) 11.809.109 6.400.562 6.296.231 37.729.025 10.435.835 1.534.193.218 2.118.726.151 232.305.418 2.351.031.569
Laba tahun berjalan/
Profit for the year – – – – – – – – – – 100.923.998 100.923.998 12.620.168 113.544.166
Penghasilan komprehensif lain/
Other comprehensive income – – – – 813.613 15.316.787 – (7.011.924) 4.250.132 – – 13.368.608 (5.714.913) 7.653.695
Jumlah laba (rugi) komprehensif tahun berjalan/
Total comprehensive income (loss) for the period – – – – 813.613 15.316.787 – (7.011.924) 4.250.132 – 100.923.998 114.292.606 6.905.255 121.197.861
Dividen tunai/
Cash dividend 41 – – – – – – – – – – (80.115.928) (80.115.928) – (80.115.928)
Pembagian dividen untuk kepentingan nonpengendali/
Dividend distribution to non-controlling interest 30 – – – – – – – – – – – – (12.038.311) (12.038.311)
Setoran modal dari kepentingan nonpengendali/
Capital contribution from non-controlling interest 30 – – – – – – – – – – – – 5.101.120 5.101.120
Penyesuaian ekuitas pada entitas asosiasi/
Equity adjustment in Associates 14 – – – (10.104.360) – – – – – – – (10.104.360) – (10.104.360)
Selisih transaksi dengan entitas sepengendali/
Difference in transaction with entity under common control – – – – – – – – – – – – (25.548.958) (25.548.958)
Pembayaran berbasis saham/
Share-based payments 31,32 – 393.625 5.730.638 – – – – – – – – 6.124.263 – 6.124.263
Pembelian kembali saham/
Shares buyback 31,32 – (2.255.077) (27.117.227) – – – – – – – – (29.372.304) – (29.372.304)
Akuisisi entitas asosiasi menjadi entitas anak/
Acquisition of an associate to become a subsidiary – – – 33.836.554 – – – – – – – 33.836.554 33.836.554
Saldo tanggal 31 Desember 2025
Balance, December 31, 2025 121.798.946 (2.207.682) 476.689.503 (48.782.535) (34.338.295) 27.125.896 6.400.562 (715.693) 41.979.157 10.435.835 1.555.001.288 2.153.386.982 206.724.524 2.360.111.506
Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan The accompanying notes to the consolidated financial statements form an integral part of these
dari laporan keuangan konsolidasian secara keseluruhan. consolidated financial statements taken as a whole.
8
Page 177
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 175
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS CONSOLIDATED
KONSOLIDASIAN STATEMENT OF CASH FLOWS
Untuk Tahun yang Berakhir pada For the Year Ended
Tanggal 31 Desember 2025 December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar, unless
kecuali dinyatakan lain) otherwise stated)
Catatan/
Notes 2025 2024
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
OPERASI OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 2.424.341.104 2.427.934.308 Cash receipts from customers
Pembayaran kas kepada pemasok Cash paid to suppliers and
dan karyawan (1.173.759.012) (871.870.332) employees
Kas yang dihasilkan dari kegiatan
usaha 1.250.582.092 1.556.063.976 Cash generated from operations
Pembayaran pajak penghasilan (344.293.922) (336.522.367) Income tax paid
Kas neto diperoleh dari aktivitas Net cash provided by operating
operasi 906.288.170 1.219.541.609 activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING
INVESTASI ACTIVITIES
Penjualan investasi pada saham 14 134.527.000 14.097.000 Sale of investment in shares
Cash dividends received from
Dividen kas dari entitas asosiasi 14 40.790.764 18.870.000 associates
Penerimaan uang muka 22.800.000 – Addition of advance
Penerimaan bunga 21.395.622 19.702.925 Interest received
Penerimaan dari pencairan Proceeds from redemption of short-
investasi jangka pendek 8.500.000 – term investments
Penerimaan (penambahan) piutang Receipt of (additions) other
lain-lain dari pihak berelasi 4.766.948 (1.389.779) receivables from related parties
Penerimaan dari pelepasan aset Proceeds from disposal of
eksplorasi dan evaluasi 3.000.000 5.000.000 exploration and evaluation assets
Penerimaan dari pelepasan aset Proceeds from disposal of
tetap 2.759.396 26.873 property, plant, and equipment
Penerimaan dari pelepasan Entitas Proceeds from disposal of
Anak atau asosiasi 39,48 – 117.885.931 subsidiaries or associate
Penerimaan dari piutang lain-lain 7 – 1.000.000 Receipt of other receivables
Penerimaan piutang dari entitas Proceeds from collection of
asosiasi 14 – 8.506.915 receivable due from associate
Penambahan investasi jangka
panjang 14 – (18.490.410) Addition of long-term investment
Additions to concession financial
Penambahan pada aset konsesi 9 (3.530.973) (9.916.007) assets
Penambahan kepemilikan di Addition in ownership in non-
kepentingan nonpengendali (12.780.000) – controlling interest
Penambahan aset lain-lain (17.411.184) (112.919.976) Additions to other assets
Penambahan aset eksplorasi dan Addition to exploration and
evaluasi 17 (68.601.051) (15.343.106) evaluation assets
Penempatan aset keuangan pada Placement on financial assets at
biaya perolehan diamortisasi (91.307.524) – amortized cost
Acquisitions of property, plant and
Perolehan aset tetap 15 (93.925.421) (25.510.692) equipment
Penambahan aset minyak dan gas
bumi 18 (352.721.301) (343.864.015) Additions to oil and gas properties
Akuisisi bisnis setelah dikurangi Acquisition of business net of cash
kas yang diperoleh 48 (355.043.690) (26.626.095) acquired
Kas neto digunakan untuk Net cash used in investing
aktivitas investasi (756.781.414) (368.970.436) activities
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
9
Page 178
2025 Management Business Company Corporate
176 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS CONSOLIDATED STATEMENT
KONSOLIDASIAN (lanjutan) OF CASH FLOWS (continued)
Untuk Tahun yang Berakhir pada For the Year Ended
Tanggal 31 Desember 2025 December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, (Expressed in United States Dollar,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2025 2024
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
PENDANAAN FINANCING ACTIVITIES
Hasil yang diperoleh dari: Proceeds from:
– Pinjaman bank 55 1.058.445.758 559.273.413 Bank loans -
– Pinjaman jangka panjang 55 741.486.198 205.539.304 Other long-term debt -
Penarikan (penempatan) deposito Withdrawal of (increase in)
dan rekening bank yang dibatasi restricted time deposits and cash
penggunaannya 13 (3.298.511) 10.509.782 in banks
Pembayaran dividen kas dari Cash dividends payment of
Entitas Anak kepada kepentingan Subsidiaries to non-controlling
nonpengendali 30 (13.334.428) (10.037.620) interest
Penyelesaian liabilitas derivatif 55 (16.756.833) (18.527.910) Settlement of derivative liabilities
Pembelian saham treasuri 31,32 (29.372.304) (5.292.222) Purchase of treasury shares
Pembelian kembali obligasi (71.934.788) (49.612.669) Repurchase of bonds
Pembayaran dividen 41 (80.115.928) (70.237.127) Dividend payment
Pembayaran liabilitas sewa 24,55 (169.837.111) (177.006.252) Repayment of lease liabilities
Pembayaran beban pendanaan (285.330.146) (252.917.106) Payment of financing charges
– Utang jangka panjang lainnya 55 (670.798.294) (391.571.643) Other long-term debt -
– Pinjaman bank 55 (677.070.856) (369.324.310) Bank loans -
Pembayaran atas: Payments of:
Kas neto digunakan untuk Net cash used in financing
aktivitas pendanaan (217.917.243) (569.204.360) activities
NET INCREASE (DECREASE) IN
KENAIKAN (PENURUNAN) NETO CASH AND CASH
KAS DAN SETARA KAS DARI EQUIVALENTS FROM
OPERASI YANG DILANJUTKAN (68.410.487) 281.366.813 CONTINUING OPERATIONS
NET INCREASE (DECREASE) IN
KENAIKAN (PENURUNAN) NETO CASH AND CASH
KAS DAN SETARA KAS DARI EQUIVALENTS FROM
OPERASI YANG DIHENTIKAN 39 (51.261) 3.884.547 DISCONTINUED OPERATIONS
PERBEDAAN NILAI TUKAR NET FOREIGN EXCHANGE
NETO 543.821 (2.175.865) DIFFERENCE
CASH AND CASH
KAS DAN SETARA KAS PADA EQUIVALENTS AT BEGINNING
AWAL TAHUN 637.024.448 353.948.953 OF YEAR
CASH AND CASH
KAS DAN SETARA KAS PADA EQUIVALENTS AT END OF
AKHIR TAHUN 4 569.106.521 637.024.448 YEAR
Catatan atas laporan keuangan konsolidasian terlampir The accompanying notes to the consolidated financial
merupakan bagian yang tidak terpisahkan dari laporan statements form an integral part of these consolidated
keuangan konsolidasian secara keseluruhan. financial statements taken as a whole.
10
Page 179
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 177
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM 1. GENERAL
a. Informasi Umum a. General Information
PT Medco Energi Internasional Tbk PT Medco Energi Internasional Tbk
(“Perusahaan”) didirikan di dalam kerangka (the “Company”) was established within the
Undang-undang Penanaman Modal Dalam framework of the Domestic Capital Investment
Negeri No. 6 Tahun 1968 yang telah diubah Law No. 6 Year 1968 as amended by Law No.
dengan Undang-Undang No. 12 tahun 1970, 12 Year 1970, based on notarial deed No. 19 of
berdasarkan Akta Notaris No. 19 oleh Imas Imas Fatimah, S.H., dated June 9, 1980. The
Fatimah, S.H., pada tanggal 9 Juni 1980. Akta deed of establishment was approved by the
pendirian ini disetujui oleh Menteri Kehakiman Ministry of Justice of the Republic of Indonesia
Republik Indonesia dengan Surat Keputusan in its decision letter No. Y.A.5/192/4 dated April
No.Y.A.5/192/4 tanggal 7 April 1981 dan 7, 1981 and was published in State Gazette No.
diumumkan dalam Berita Negara Republik 102, Supplement No. 1020 dated December 22,
Indonesia No. 102, Tambahan No. 1020 tanggal 1981.
22 Desember 1981.
Anggaran Dasar Perusahaan beberapa kali The Company’s Articles of Association have
mengalami perubahan, di mana perubahan been amended several times, the latest
terakhir dilakukan untuk penyesuaian dengan amendments of which were made to adjust to
Klasifikasi Baku Lapangan Usaha Indonesia the Standard Classification of Indonesian
(Indonesia KBLI) 2020 dan ketentuan mengenai Business Fields (Indonesia KBLI) 2020 and the
pengumuman informasi keuangan pada surat provision regarding the announcement of the
kabar. Perubahan terakhir diaktakan dengan financial information in the newspaper. The
Akta Notaris Leolin Jayayanti, S.H., M.Kn., No. latest amendments were covered by Notarial
69 tanggal 26 Juni 2023, yang telah dilaporkan Deed No. 69 dated June 26, 2023 of Leolin
dan dicatat oleh Menteri Hukum dan Hak Asasi Jayayanti, S.H., M.Kn, which has been reported
Manusia dalam surat keputusannya No. and recorded by the Minister of Law and Human
AHU-0035936.AH.01.02 tahun 2023 tanggal 26 Rights in his decision letter No.
Juni 2023. AHU-0035936.AH.01.02 year 2023 dated June
26, 2023.
Perusahaan berdomisili di Jakarta dan kantor The Company is domiciled in Jakarta and its
pusat beralamat di The Energy Building Lantai head office is located at The Energy Building
53, SCBD Lot. 11A, Jl. Jend. Sudirman Kav. 53rd Floor, SCBD Lot. 11A, Jl. Jend. Sudirman
52-53, Jakarta 12190. Kav. 52-53, Jakarta 12190.
Sesuai dengan Pasal 3 Anggaran Dasar In accordance with Article 3 of the Company's
Perusahaan, ruang lingkup aktivitas Articles of Association, the scope of its activities
Perusahaan terdiri atas, antara lain, melakukan comprises, among others, carrying out activities
aktivitas perusahaan holding dan melakukan of a holding company and providing
jasa konsultasi manajemen. Ruang lingkup management consulting services. The scope of
aktivitas utama entitas anak meliputi the main activities of its subsidiaries includes
pertambangan dan penggalian, industri, mining and quarrying, industry, trade,
perdagangan, jasa konstruksi, pengangkutan, construction services, transportation, contract
pekerjaan kontrak, distribusi, jasa teknik dan services, distribution, industry and technical
industri, termasuk penyediaan tenaga listrik dan services, including electricity power supply and
jasa pendukung tenaga listrik lainnya. other supporting electricity services. The
Perusahaan memulai kegiatan operasi Company started its commercial operations on
komersialnya pada tanggal 13 Desember 1980. December 13, 1980.
Perusahaan dan entitas anaknya (bersama- The Company and subsidiaries (collectively
sama disebut “Grup”) memiliki karyawan tetap referred to as the “Group”) have approximately
masing-masing sekitar 3.331 (tidak diaudit) dan 3,331 (unaudited) and 3,327 (unaudited)
3.327 (tidak diaudit) pada tanggal 31 Desember permanent employees as of December 31, 2025
2025 dan 2024. and 2024, respectively.
11
Page 180
2025 Management Business Company Corporate
178 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
a. Informasi Umum (lanjutan) a. General Information (continued)
Pada tanggal 31 Desember 2025, entitas induk As of December 31, 2025, the Company’s direct
langsung Perusahaan adalah PT Medco Daya parent company is PT Medco Daya Abadi
Abadi Lestari dan entitas induk terakhir Lestari and ultimate parent company is PT
Perusahaan adalah PT Kalibiru Energi Lestari. Kalibiru Energi Lestari. As of December 31,
Pada tanggal 31 Desember 2024, entitas induk 2024, the Company’s direct and ultimate parent
langsung dan terakhir Perusahaan adalah PT company was PT Medco Daya Abadi Lestari.
Medco Daya Abadi Lestari.
b. Penawaran Umum Efek Saham dan Obligasi b. The Company’s Share and Bonds Offering
Perusahaan
Saham Perusahaan ditawarkan perdana The Company’s shares of stock were initially
kepada masyarakat dan dicatatkan di Bursa offered to the public and listed in the Indonesia
Efek Indonesia pada tanggal 12 Oktober 1994. Stock Exchange on October 12, 1994. The
Penawaran perdana saham Perusahaan Company’s initial public offering of 22,000,000
sejumlah 22.000.000 saham dengan nilai shares with a par value of Rp1,000 per share,
nominal Rp1.000 per saham, disetujui untuk was approved for listing on September 13, 1994
dicatatkan pada tanggal 13 September 1994 by the Capital Market and Financial Institution
oleh Badan Pengawas Pasar Modal dan Supervisory Agency (BAPEPAM-LK, formerly
Lembaga Keuangan (BAPEPAM-LK, dahulu Capital Market Supervisory Agency/BAPEPAM)
Badan Pengawas Pasar Modal/BAPEPAM) in its letter No. S-1588/PM/1994.
dengan suratnya No. S-1588/PM/1994.
Perusahaan juga melakukan Penawaran Umum The Company also made a Limited Public
Terbatas I dengan maksimum 379.236.000 Offering I of a maximum of 379,236,000 shares
saham yang disetujui untuk dicatatkan pada which were approved for listing on November
tanggal 16 November 1999 oleh Ketua 16, 1999 by the Chairman of BAPEPAM-LK
BAPEPAM-LK melalui suratnya No. S-2244/ through its letter No. S-2244/PM/1999.
PM/1999. Saham baru sebanyak 321.730.290 321,730,290 new shares were issued and listed
saham diterbitkan dalam penawaran ini dan on the JSE on November 19, 1999.
dicatatkan di BEJ pada tanggal 19 November
1999.
Hak Memesan Efek Terlebih Dahulu 2017 Pre-emptive Rights 2017
Pada tanggal 29 November 2017, Perusahaan On November 29, 2017, the Company received
menerima pernyataan efektif dari Otoritas Jasa an effective statement from the Financial
Keuangan terkait rencana Penawaran Umum Services Authority regarding the planned
Terbatas II kepada para pemegang saham Limited Public Offering II to the Company's
Perusahaan dalam rangka penerbitan Hak shareholders for the purpose of issuing
Memesan Efek Terlebih Dahulu (“PUT II Preemptive Rights (“PUT II HMETD”) of
HMETD”) atas 4.399.117.667 saham biasa atas 4,399,117,667 common shares on behalf of or
nama atau sebesar 33,33% dari modal in the amount of 33.33% of the issued and fully
ditempatkan dan disetor penuh Perusahan. paid capital of the Company. On December 28,
Pada tanggal 28 Desember 2017, Perusahaan 2017, the Company obtained
memperoleh dana sebesar Rp2,639,470,600,200 (before deducting
Rp2.639.470.600.200 (sebelum dikurangi biaya transaction costs) through this PUT II HMETD
transaksi) melalui PUT II HMETD ini (Catatan (Note 31).
31).
12
Page 181
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 179
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran Umum Efek Saham dan Obligasi b. The Company’s Share and Bonds Offering
Perusahaan (lanjutan) (continued)
Waran Warrants
Tanggal Penawaran Tahap/ Periode/ Setara Saham/ Jumlah Penerimaan/
Umum/ Series Period Shares Equivalent Total Proceeds
Public Offering Date
Desember 2017/ Waran Seri I Tahap I/ 1 Juli 2018 – 100.424.134 lembar saham/ Rp62.765.083.750 (setara dengan
December 2017 Series I Warrants 31 Desember 2018/ 100,424,134 shares AS$4.361.209)/
Exercise Window I July 1, 2018 – Rp62,765,083,750 (equivalent to
Penawaran Umum December 31, 2018 US$4,361,209)
Terbatas II/ Waran Seri I Tahap II/ 1 Januari 2019 – 86.734.313 lembar saham/ Rp56.275.587.200 (setara dengan
Limited Public Offering Series I Warrants 31 Desember 2019/ 86,734,313 shares AS$4.021.291)/
II Exercise Window II January 1, 2019 – Rp56,275,587,200 (equivalent to
December 31, 2019 US$4,021,291)
Waran Seri I Tahap III/ 1 Januari 2020 – 78.197.793 lembar saham/ Rp45.737.642.020 (setara dengan
Series I Warrants 31 Desember 2020/ 78,197,793 shares AS$3.234.455)/
Exercise Window III January 1, 2020 – Rp45,737,642,020 (equivalent to
December 31, 2020 US$3,234,455)
Hak Memesan Efek Terlebih Dahulu 2020 Pre-emptive Rights 2020
Pada tanggal 31 Agustus 2020, Perusahaan On August 31, 2020, the Company received an
menerima pernyataan efektif dari Otoritas Jasa effective statement from the Financial Services
Keuangan terkait rencana Penawaran Umum Authority regarding plans for Limited Public
Terbatas III kepada para pemegang saham Offering III to the Company's shareholders for
Perusahaan dalam rangka penerbitan Hak the purpose of issuing Pre-emptive Rights
Memesan Efek Terlebih Dahulu (“PUT III (“PUT III HMETD”) for a maximum of
HMETD“) atas maksimum 7.500.000.000 7,500,000,000 ordinary shares or an amount
lembar saham biasa atau sebesar 41,85% dari equal to 41.85% of the issued and fully paid-up
modal ditempatkan dan disetor penuh capital of the Company with an exercise price of
Perusahaan dengan harga pelaksanaan Rp250 Rp250 per share. The Company obtained
per lembar saham. Perusahaan memperoleh proceeds of Rp1,785,487,886,250 (before
dana sebesar Rp1.785.487.886.250 (sebelum deducting transaction costs) through PUT III
dikurangi biaya transaksi) melalui PUT III HMETD for the realization of the issuance of
HMETD atas realisasi penerbitan 7.141.951.545 7,141,951,545 new shares. The Company has
saham baru. Perusahaan telah menerima received all of the proceeds from PUT III
seluruh dana dari PUT III HMETD pada bulan HMETD in September 2020 (Note 31).
September 2020 (Catatan 31).
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, all of the
seluruh saham Perusahaan masing-masing Company’s 25,136,231,252 shares, respectively
sejumlah 25.136.231.252 tercatat di Bursa Efek are listed on the Indonesia Stock Exchange.
Indonesia.
13
Page 182
2025 Management Business Company Corporate
180 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran Umum Efek Saham dan Obligasi b. The Company’s Share and Bonds Offering
Perusahaan (lanjutan) (continued)
Perusahaan telah menerbitkan Penawaran The Company has Non-convertible, Fixed Rate
Umum Obligasi Tanpa Hak Konversi dengan Bonds Offering as follows:
Tingkat Bunga Tetap sebagai berikut:
Target Dana/
Tanggal Penerbitan Fund Target Issuance Date
Juli 2004 (Rupiah) 1.500.000.000.000 July 2004 (Rupiah)
Juni 2009 (Rupiah) 1.500.000.000.000 June 2009 (Rupiah)
Juli 2011 (Dolar AS) 150.000.000 July 2011 (US Dollar)
Juni 2012 (Rupiah) 1.500.000.000.000 June 2012 (Rupiah)
Desember 2012 (Rupiah) 4.500.000.000.000 December 2012 (Rupiah)
Juli 2016 (Rupiah) 5.000.000.000.000 July 2016 (Rupiah)
April 2018 (Rupiah) 5.000.000.000.000 April 2018 (Rupiah)
September 2021 (Rupiah)1) 5.000.000.000.000 September 2021 (Rupiah)1)
Juli 2023 (Rupiah)1) 5.000.000.000.000 July 2023 (Rupiah)1)
Juni 2025 (Rupiah)2) 5.000.000.000.000 June 2025 (Rupiah)2)
1) Pada tanggal 31 Desember 2025 dan 2024, obligasi ini merupakan Obligasi 1) As of December 31, 2025 and 2024, these bonds represent Rupiah Shelf Registered
Berkelanjutan Rupiah IV dan V, masing - masing Tahap I, II dan III dan masih terutang Bonds IV and V, Phase I, II and III, respectively, and are still outstanding as disclosed
seperti yang disajikan pada Catatan 29. in Note 29.
2) Pada tanggal 31 Desember 2025, obligasi ini merupakan Obligasi Berkelanjutan Rupiah 2) As of December 31, 2025, this bond represents Rupiah Shelf Registered Bonds VI
VI Tahap I dan masih terutang seperti yang disajikan pada Catatan 29. Phase I and is still outstanding as disclosed in Note 29.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, all of the
seluruh obligasi Perusahaan yang beredar pada Company’s bonds outstanding as of those dates
tanggal tersebut, tercatat di Bursa Efek are listed on the Indonesia Stock Exchange
Indonesia (“BEI”). (“IDX”).
c. Dewan Komisaris dan Direksi dan Komite Audit c. Boards of Commissioners and Directors and
Audit Committee
Susunan Dewan Komisaris dan Direksi The members of the Company’s Boards of
Perusahaan pada tanggal 31 Desember 2025 Commissioners and Directors as of December
dan 2024 adalah sebagai berikut: 31, 2025 and 2024 are as follows:
Dewan Komisaris: Board of Commissioners:
Komisaris Utama Yani Yuhani Panigoro President Commissioner
Komisaris Independen Marsillam Simandjuntak Independent Commissioner
Komisaris Yaser Raimi A. Panigoro Commissioner
Direksi: Board of Directors:
Direktur Utama Hilmi Panigoro President Director
Direktur Roberto Lorato Director
Direktur Anthony R. Mathias Director
Direktur Ronald Gunawan Director
Direktur Amri Siahaan Director
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
susunan Komite Audit Perusahaan adalah members of the Company’s Audit Committee
sebagai berikut: are as follows:
Ketua Komite Audit Marsillam Simandjuntak Chairman of Audit Committee
Anggota Komite Audit Hendry Member of Audit Committee
Anggota Komite Audit Ferry Sanjaya Member of Audit Committee
14
Page 183
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 181
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak d. Subsidiaries
i. Pada tanggal 31 Desember 2025 dan i. As of December 31, 2025 and 2024, the
2024, Perusahaan telah Company has consolidated all of its
mengkonsolidasikan semua entitas subsidiaries in line with its accounting
anaknya sesuai dengan kebijakan policy as described in Note 2b, “Principles
sebagaimana diuraikan dalam Catatan 2b, of Consolidation”. For disclosure purposes,
“Prinsip Konsolidasi”. Untuk tujuan only sub-holding entities or subsidiaries
pengungkapan, hanya entitas sub-holding which are material in terms of total assets/
atau entitas anak yang material terhadap liabilities and/or revenue/net income to the
laporan keuangan konsolidasian Grup dari Group’s consolidated financial statements
jumlah aset/liabilitas dan/atau pendapatan/ are presented in the table below:
laba neto yang disajikan dalam tabel di
bawah ini:
Tanggal
perolehan
Dimulainya izin Jumlah aset (sebelum
Negara kegiatan eksplorasi/ Persentase kepemilikan efektif/ eliminasi) dalam jutaan/
Domisili/ komersial/ eksploitasi/ Effective percentage of Total assets
Country of Start of Date of ownership (before elimination)
Domicile commercial exploration/ in millions
operations exploitation
permit
obtained 2025 2024 2025 2024
Eksplorasi dan produksi minyak dan gas/
Exploration and production of oil and gas
PT Medco E & P Tarakan 1) Indonesia 1992 14 Jan’ 2002 100,00 100,00 15,20 13,51
PT Medco E & P Indonesia 1) Indonesia 1995 28 Nov’ 2013 100,00 100,00 177,02 158,92
PT Medco E & P Tomori Sulawesi 1) Indonesia 2005 4 Dec’ 1997 100,00 100,00 225,69 256,48
PT Medco E & P Simenggaris 1) 3) Indonesia 2009 24 Feb’ 1998 100,00 100,00 37,03 50,23
Tahap
eksplorasi/
PT Medco Energi Natuna Timur 1) Indonesia 26 Nov' 2010 100,00 100,00 2,21 7,63
Exploration
stage
PT Medco E & P Lematang 1) Indonesia 2003 6 Apr’ 1987 100,00 100,00 488,82 462,63
Medco Lematang BV 2) Netherlands 2003 6 Apr’ 1987 100,00 100,00 121,57 116,29
PT Medco E & P Malaka 1) Indonesia 2019 1 Sep’ 1991 100,00 100,00 383,32 524,35
PT Medco E & P Rimau 1) Indonesia 2005 23 Apr' 2003 100,00 100,00 86,32 89,07
British
Medco Yemen Malik Ltd 2) Virgin 2012 – 100,00 100,00 24,82 24,62
Islands
Cayman
Lematang E&P Limited 2) 2008 6 Apr' 1987 100,00 100,00 56,03 51,15
Islands
Medco LLC 2) Oman 2001 Jan' 2006 78,00 78,00 80,12 70,74
Medco International Ventures Ltd 2) 3) Libya 2011 12 Mar' 2005 100,00 100,00 0,21 0,44
Medco E&P Natuna Ltd 2) Bermuda 1979 19 Jan' 1999 100,00 100,00 556,51 556,51
Tahap
eksplorasi/
Ophir Tanzania (Block 1) Limited 2) Jersey 08 Dec' 2005 100,00 100,00 123,13 123,11
Exploration
stage
British
Medco Energi Bangkanai Ltd 2) Virgin 2016 30 Dec’ 2003 100,00 100,00 228,94 217,71
Islands
Medco Energi Central Kalimantan Ltd 2) Belize 2016 30 Dec’ 2003 100,00 100,00 61,01 57,57
Medco Energi Kerendan Limited 2) Mauritius 2016 30 Dec’ 2003 100,00 100,00 16,22 14,49
British
Medco Energi West Bangkanai
Virgin – 15 May 2013 100,00 100,00 0,30 0,28
Limited 2)
Islands
Tahap
eksplorasi/
Ophir Mexico Operations, S.A de C.V 2) Mexico 02 Feb' 2018 100,00 100,00 3,35 3,28
Exploration
stage
British
Medco Energi Thailand (Bualuang)
Virgin 2008 24 Oct' 1996 100,00 100,00 188,98 177,59
Limited 2)
Islands
MedcoEnergi Oman Block 60 Ltd
(dahulu/formerly Medco Energi (BVI) Oman 2011 19 Mar' 2011 100,00 100,00 1.151,54 930,76
Ltd) 2)
15
Page 184
2025 Management Business Company Corporate
182 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Tanggal
perolehan
Dimulainya izin Jumlah aset (sebelum
Negara kegiatan eksplorasi/ Persentase kepemilikan efektif/ eliminasi) dalam jutaan/
Domisili/ komersial/ eksploitasi/ Effective percentage of Total assets
Country of Start of Date of ownership (before elimination)
Domicile commercial exploration/ in millions
operations exploitation
permit
obtained 2025 2024 2025 2024
Eksplorasi dan produksi minyak dan gas/ (lanjutan)
Exploration and production of oil and gas
(continued)
United
Medco Energi Thailand (E&P) Limited 2) 2008 24 Oct' 1996 100,00 100,00 317,12 85,69
Kingdom
Medco Energi Madura Offshore Pty Ltd 2) Australia 2006 04 Dec' 1997 100,00 100,00 46,36 254,25
Medco Energi Sampang Pty Ltd 2) Australia 2007 04 Dec' 1997 100,00 100,00 26,69 124,91
Medco E&P Grissik Ltd 2) Bermuda 1980 09 Feb' 1976 100,00 100,00 1.843,05 1.744,56
British
Medco E&P Corridor Holding Ltd 2) Virgin 1980 09 Feb' 1976 100,00 100,00 1.555,29 1.672,74
Islands
Medco E&P Corridor, S.A.U (dahulu/
Spain 100,00 – 435,69 –
formerly Repsol Corridor S.A.U) 2)
Tahap
eksplorasi/
Medco E&P Sakakemang B.V. 2) Netherlands 18 May 2010 100,00 – 45,96 –
Exploration
stage
Fortuna International Barbados, Inc 2) Barbados 100,00 – 280,81 –
Jasa penunjang operasi minyak dan gas/
Support services for oil and gas activities
PT Exspan Petrogas Intranusa 2) Indonesia 100,00 100,00 8,97 11,48
PT Mitra Energi Gas Sumatera 2) Indonesia 100,00 100,00 70,88 7,64
Medco Singapore Operation Pte Ltd 2) Singapore 100,00 100,00 2,20 1,99
PT Medco LNG Indonesia 1) Indonesia 100,00 100,00 624,63 252,21
Perdagangan/
Trading
Medco Energi Global Pte Ltd 2) Singapore 100,00 100,00 3.278,94 3.008,46
Energi Listrik/
Power
PT Medco Power Internasional 1) Indonesia 100,00 100,00 66,00 67,98
PT Medco Power Indonesia 2) Indonesia 100,00 100,00 468,04 425,47
PT Medcopower Servis Indonesia 2) Indonesia 62,00 62,00 4,44 4,83
PT Mitra Energi Batam 2) Indonesia 42,39 42,39 38,06 37,18
PT Dalle Energy Batam 2) Indonesia 47,99 47,99 45,76 26,98
PT TJB Power Services 2) Indonesia 49,88 49,88 15,45 13,78
PT Medco Power Sentral Sumatera 2) Indonesia 100,00 100,00 39,50 40,46
PT Medco Geothermal Indonesia 2) Indonesia 100,00 100,00 72,97 59,74
PT Medco Cahaya Geothermal 2) Indonesia 51,00 51,00 277,52 259,30
PT Medco Geothermal Sarulla 2) Indonesia 62,00 62,00 7,16 7,46
PT Energi Prima Elektrika 2) Indonesia 55,50 55,50 5,18 7,20
PT Energi Listrik Batam 2) Indonesia 43,39 43,39 136,39 114,53
PT Multidaya Prima Elektrindo 2) Indonesia 51,00 51,00 9,51 10,48
PT Pembangkitan Pusaka
Indonesia 100,00 100,00 12,43 11,39
Parahiangan 2)
PT Dalle Panaran 2) Indonesia 100,00 100,00 0,63 0,65
PT Indo Medco Power 2) Indonesia 100,00 100,00 0,12 0,12
PT Universal Batam Energy 2) Indonesia 42,00 42,00 17,48 13,71
16
Page 185
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 183
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Tanggal
perolehan
Dimulainya izin Jumlah aset (sebelum
Negara Persentase kepemilikan efektif/ eliminasi) dalam jutaan/
kegiatan eksplorasi/
Domisili/ Effective percentage of Total assets
komersial/ eksploitasi/
Country ownership (before elimination)
Start of Date of
of in millions
commercial exploration/
Domicile
operations exploitation
permit
obtained 2025 2024 2025 2024
Energi Listrik/ (lanjutan)
Power (continued)
PT Medco Energi Menamas 2) Indonesia 59,99 59,99 8,99 9,34
PT Medco General Power Services 2) Indonesia 59,76 59,76 4,38 4,54
PT Sangsaka Hidro Lestari 2) Indonesia 56,00 56,00 0,06 0,06
PT Sangsaka Agro Lestari 2) Indonesia 70,00 70,00 0,47 0,49
PT Sangsaka Hidro Selatan 2) Indonesia 69,93 69,93 0,06 0,06
PT Sangsaka Hidro Kasmar 2) Indonesia 67,20 67,20 0,89 0,92
PT Sangsaka Hidro Cisereuh 2) Indonesia 69,99 69,99 0,06 0,06
PT Sangsaka Hidro Patikala Lima 2) Indonesia 67,20 67,20 0,06 0,06
PT Sangsaka Hidro Baliase 2) Indonesia 67,20 67,20 0,09 0,10
PT Sangsaka Hidro Barat 2) Indonesia 100,00 100,00 0,74 0,77
PT Nawakara Energi Sumpur 2) Indonesia 80,00 80,00 0,93 0,96
PT Bio Jatropha Indonesia 2) Indonesia 69,99 69,99 14,92 14,69
PT Medco Ratch Power Riau 2) Indonesia 51,00 51,00 357,06 365,87
PT Medcopower Transportasi Listrik 2) Indonesia 100,00 100,00 0,11 0,08
PT Medcosolar Bali Timur 2) Indonesia 51,00 51,00 23,06 14,85
PT Medco Solar Bali Barat 2) Indonesia 51,00 51,00 2,90 3,02
PT Medco Kansai Power Indonesia 2) Indonesia 60,00 60,00 134,55 134,98
Lain-lain/
Others
Medco Straits Services Pte Ltd 1) Singapore 100,00 100,00 1.339,34 1.428,22
Medco Oak Tree Pte Ltd 2) Singapore 100,00 100,00 589,35 587,90
Medco Bell Pte Ltd 2) Singapore 100,00 100,00 620,43 620,06
Medco Laurel Tree Pte Ltd 2) Singapore 100,00 100,00 391,51 391,34
Medco Maple Tree Pte Ltd 2) Singapore 100,00 100,00 492,20 491,22
Medco Cypress Tree Pte Ltd 2) Singapore 100,00 – 386,80 –
United
Ophir Energy Ltd 2) 100,00 100,00 2.920,05 2.980,11
Kingdom
PT Satria Raksa Buminusa 2) Indonesia 100,00 100,00 104,13 10,39
Petroleum Exploration & Production Cayman
100,00 100,00 18,61 18,61
International Ltd 2) Islands
Medco International Services Pte Ltd 2) Singapore 100,00 100,00 72,65 31,29
Medco Energi USA Inc 2) 3) USA 100,00 100,00 189,01 189,01
PT Mitra Energi Pelayaran 2) Indonesia 100,00 100,00 226,20 118,36
Transasia Pipeline Company Pvt Ltd 2) Mauritius 100,00 85,00 62,81 304,07
17
Page 186
2025 Management Business Company Corporate
184 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Rincian entitas anak yang tidak aktif, tidak The subsidiaries that are not active, not
signifikan atau dimiliki secara tidak significant or owned indirectly by the
langsung oleh Perusahaan pada tanggal Company as of December 31, 2025 and
31 Desember 2025 dan 2024 adalah 2024 are as follows:
sebagai berikut:
Persentase kepemilikan efektif/
Effective percentage of ownership
2025 2024
Eksplorasi dan produksi minyak dan gas/
Exploration and production of oil and gas
PT Medco Energi Madura 1) 100,00 100,00
PT Medco CBM Pendopo 2) 100,00 100,00
PT Medco Energi Jwala (dahulu/formerly PT Medco Energi Belida) 1) 100,00 100,00
PT Medco E & P Sembakung 1) 100,00 100,00
PT Medco Energi Beluga 1) 100,00 100,00
PT Medco E & P Bengara Indonesia 1) 100,00 100,00
Medco Simenggaris Pty Ltd 1) 100,00 100,00
Medco Arabia Ltd 2) 100,00 100,00
Medco Energi US LLC 2) 3) 100,00 100,00
MedcoEnergi Oman Block 48 Ltd 2) 100,00 100,00
Medco Yemen Amed Ltd 2) 100,00 100,00
Medco International Entreprise Ltd 2) 100,00 100,00
Medco International Entreprise Cro Ltd 2) 100,00 100,00
Medco Far East Limited 1) 100,00 100,00
Medco Asia Pacific Ltd 2) 100,00 100,00
PT Medco E & P Bangkanai 1) 100,00 100,00
PT Medco E & P Nunukan 1) 100,00 100,00
Medco South China Sea Pte Ltd 2) 100,00 100,00
Medco Natuna Pte Ltd 2) 100,00 100,00
Medco Melati Limited (dahulu/formerly Medco Yemen Holding Ltd) 2) 100,00 100,00
Medco Indonesia Holding BV 1) 100,00 100,00
Ophir Holdings & Services (UK) Limited 2) 100,00 100,00
Ophir Holdings Limited 2) 100,00 100,00
Ophir Asia Limited 2) 4) – 100,00
Dominion Petroleum Limited 2) 100,00 100,00
Salamander Energy Ltd 2) 100,00 100,00
Ophir Mexico Limited 2) 100,00 100,00
Ophir Equatorial Guinea (Block R) Limited 2) 100,00 100,00
Ophir Myanmar (Block AD-3) Limited 2) 4) – 100,00
Ophir East Africa Holdings Limited 2) 100,00 100,00
Ophir East Africa Ventures Limited 2) 100,00 100,00
Ophir Pipeline Limited 2) 100,00 100,00
Ophir Gas Marketing Limited 2) 100,00 100,00
18
Page 187
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 185
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Persentase kepemilikan efektif/
Effective percentage of ownership
2025 2024
Eksplorasi dan produksi minyak dan gas/ (lanjutan)
Exploration and production of oil and gas (continued)
Ophir LNG Limited 2) 100,00 100,00
Dominion Oil & Gas Limited 2) 100,00 100,00
Dominion Oil & Gas Limited (Tanzania) 2) 100,00 100,00
Dominion Petroleum Acquisitions Limited 2) 100,00 100,00
DOMPET Limited 2) 100,00 100,00
Dominion Tanzania Limited 2) 100,00 100,00
Dominion Petroleum Kenya Limited 2) 100,00 100,00
Salamander Energy (Bualuang Holdings) Limited 2) 100,00 100,00
Salamander Energy (Lao) Company Limited 2) 100,00 100,00
Salamander Energy (S.E. Asia) Limited 2) 100,00 100,00
Ophir Indonesia (S.E. Sangatta) Limited 2) 100,00 100,00
Salamander Energy Group Limited 2) 100,00 100,00
Ophir Energy Indonesia Limited 2) 100,00 100,00
Ophir Jaguar 1 Limited 2) 100,00 100,00
Ophir Jaguar 2 Limited 2) 100,00 100,00
Ophir Spv Pty Ltd 2) 100,00 100,00
Ophir Asia Pacific Pty Ltd 2) 100,00 100,00
PT Medco Energi Bangkanai 1) 100,00 100,00
PT Bangkanai LNG Indonesia (dahulu/formerly PT Medco Energi Sampang) 1) 100,00 100,00
PT Medco Energi Amanah (dahulu/formerly PT Medco Power Generation Indonesia) 1) 100,00 100,00
Jasa penunjang operasi minyak dan gas/
Support services for oil and gas activities
PT Medco Energi CBM Indonesia 1) 100,00 100,00
Medco Petroleum Services Ltd 2) 100,00 100,00
Perdagangan/
Trading
PT Medco Sampang Indonesia 1) 100,00 100,00
Far East Energy Trading Pte Ltd 2) 100,00 100,00
Produksi kimia dan perdagangan/
Production and trading of chemicals
PT Medco Downstream Indonesia 1) 3) 100,00 100,00
PT Medco LPG Kaji 2) 3) 100,00 100,00
PT Medco Methanol Bunyu 2) 3) 100,00 100,00
PT Medco Ethanol Lampung 2) 3) 100,00 100,00
Energi Listrik/
Power
PT Muara Enim Multi Power 2) 80,00 80,00
PT Medco Geothermal Nusantara 2) 100,00 100,00
PT Medco Hidro Indonesia 2) 100,00 100,00
PT Medcopower Energi Baru 2) 100,00 100,00
PT Medcopower Surya Nusantara 2) 100,00 100,00
PT Medcopower Elektrika Indonesia 2) 100,00 100,00
PT Medco Power Geothermal Services 2) 60,00 60,00
PT Medco Pasific Solar Transmisi 2) 100,00 100,00
PT Medco Power Geothermal Energi 2) 100,00 100,00
19
Page 188
2025 Management Business Company Corporate
186 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
Persentase kepemilikan efektif/
Effective percentage of ownership
2025 2024
Lain-lain/Others
PT Medco Solar Pasifik 2) 100,00 100,00
Medco Power Global Pte Ltd 2) 100,00 100,00
PT Medco Sarana Balaraja 1) 100,00 100,00
PT Musi Raksa Buminusa 2) 100,00 100,00
PT Mahakam Raksa Buminusa 2) 99,00 99,00
PT Medco Energi Nusantara 1) 100,00 100,00
PT Medco Energi Linggau 2) 100,00 100,00
PT Medco Geothermal Sumatera 2) 100,00 100,00
PT Medco Power Energi Services 2) 100,00 100,00
Medco Platinum Road Pte Ltd 2) 4) – 100,00
Medco Orchid Tree Pte Ltd 2) 100,00 –
1) Entitas anak dengan kepemilikan langsung oleh PT Medco Energi Internasional Tbk 1) Subsidiaries held directly by PT Medco Energi Internasional Tbk
2) Entitas anak dengan kepemilikan tidak langsung 2) Subsidiaries held indirectly through subsidiary undertakings
3) Entitas anak diklasifikasikan sebagai aset tersedia untuk dijual atau operasi yang 3) Subsidiaries classified as asset held for sale or discontinued operation (Note 39)
dihentikan (Catatan 39)
4) Entitas anak dibubarkan pada tahun 2025 4) Subsidiaries dissolved in 2025
ii. Grup mempunyai operasi bersama minyak ii. The Group has interests in the following
dan gas atau Kontrak Jasa/Perjanjian domestic petroleum joint operations or
Partisipasi dan Pembagian Ekonomi di Service Contracts/Participation and
dalam negeri sebagai berikut: Economic Sharing Agreements:
Hak Kepemilikan (%)/Interest (%)
Daerah Operasi 2025 2024 Operation Area
PSC Sumatera Selatan 65,00 65,00 PSC South Sumatera
PSC Tarakan 100,00 100,00 PSC Tarakan
PSC Rimau 65,00 65,00 PSC Rimau
JOB Senoro-Toili 30,00 30,00 JOB Senoro-Toili
PSC Lematang 100,00 100,00 PSC Lematang
JOB Simenggaris 62,50 62,50 JOB Simenggaris
PSC Blok “A” Aceh (Blok A) 85,00 85,00 PSC Block “A” Aceh (Block A)
PSC Laut Natuna Selatan Blok B PSC South Natuna Sea Block B
(Blok B) 40,00 40,00 (Block B)
PSC Bangkanai 70,00 70,00 PSC Bangkanai
PSC Bangkanai Barat 70,00 70,00 PSC West Bangkanai
PSC Madura Offshore (Madura) 67,50 67,50 PSC Madura Offshore (Madura)
PSC Sampang 45,00 45,00 PSC Sampang
PSC Sokang Utara 100,00 100,00 PSC North Sokang
PSC Blok Corridor 70,00 46,00 PSC Block Corridor
GKPB Sarulla Geothermal Operation 18,07 18,07 JOCG Sarulla Geothermal Operation
PSC Beluga 100,00 100,00 PSC Beluga
PSC Amanah 40,00 40,00 PSC Amanah
PSC Sakakemang 45,00 – PSC Sakakemang
PSC: Kontrak Bagi Hasil PSC: Production Sharing Contract
JOB: Badan Operasi Bersama JOB: Joint Operating Body
GKPB: Grup Kontraktor Pengendalian Bersama JOCG: Joint Operation Contractor Group
20
Page 189
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 187
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
iii. Grup mempunyai operasi bersama minyak iii. The Group has interests in the following
dan gas atau Kontrak Jasa/Perjanjian overseas petroleum joint operations or
Partisipasi dan Pembagian Ekonomi di luar Service Contracts/Participation and
negeri sebagai berikut: Economic Sharing Agreements as follows:
Hak Kepemilikan (%)/Interest (%)
Operasi Bersama Negara/Country 2025 2024 Joint Operations
Blok 8/38 (Bualuang) Thailand 100,00 100,00 Block 8/38 (Bualuang)
Nimr - Karim Area Oman 58,50 58,50 Nimr - Karim Area
Blok 56 Oman 5,00 5,00 Block 56
Blok 9 Yaman/Yemen 21,25 21,25 Block 9
Blok 1 dan 4 Tanzania 20,00 20,00 Block 1 and 4
Blok 10 dan 12 Mexico 20,00 20,00 Block 10 and 12
Blok 48 Oman 20,00 20,00 Block 48
Blok 60 Oman 20,00 20,00 Block 60
iv. Grup mempunyai pembangkit listrik dengan iv. The Group has power plants with the
kapasitas terpasang sebagai berikut: installed capacity as follows:
Kapasitas Terpasang (MW)/
Installed Capacity (MW)
Entitas Wilayah/Region 2025 2024
PT Medco Power Indonesia Sumatera Selatan/South Sumatera – 7
PT Mitra Energi Batam Batam 85 85
PT Dalle Energy Batam Batam 85 85
PT Energi Listrik Batam Batam 106 76
PT Energi Prima Elektrika Palembang 12 12
PT Multidaya Prima Elektrindo Palembang 12 12
PT Bio Jatropha Indonesia Jawa Barat/West Java 9 9
PT Pembangkitan Pusaka Parahiangan Jawa Barat/West Java 9 9
PT Medco Ratch Power Riau Riau 275 275
PT Medco Cahaya Geothermal 1) Jawa Timur/East Java 110 110
PT Medcosolar Bali Timur 2) Bali Timur/Eastern Bali 25 25
1) Pada tanggal 31 Desember 2024 masih dalam proses konstruksi dan telah mecapai 1) On December 31, 2024 was still in construction process and has reached 1st stage
operasi komersial tahap 1 pada bulan Februari 2025 dengan kapasitas 35MW. commercial operations in February 2025 with capacity of 35MW.
2) Pada tanggal 31 Desember 2024 masih dalam proses konstruksi dan telah 2) On December 31, 2024 was still in construction process and has reached full
mencapai operasi komersial penuh pada bulan Juli 2025. commercial operations in July 2025.
21
Page 190
2025 Management Business Company Corporate
188 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
v. Selama tahun 2025, Grup melakukan v. During 2025, the Group performed several
sejumlah reorganisasi entitas sub-holding reorganization of sub-holding entities or
atau entitas anak sebagai berikut: subsidiaries as follows:
• Pada bulan September 2025, • In September 2025, the Company (as
Perusahaan (sebagai pihak yang the Lender), PT Mitra Energi
memberikan pinjaman), PT Mitra Pelayaran (“MEP”) as the borrower,
Energi Pelayaran (“MEP”) sebagai PT Mitra Energi Gas Sumatera
peminjam, PT Mitra Energi Gas (“MEGS”) and PT Medco LNG
Sumatera (“MEGS”) dan PT Medco Indonesia (“MLI”) entered into a
LNG Indonesia (“MLI”) sepakat untuk series of transactions, agreed to sign
menandatangani perjanjian novasi novation agreements to novate the
atas Perjanjian Pinjaman antara Loan Agreement between
Perusahaan dan MEP dengan total the Company and MEP totaling
Rp 1 triliun. Selanjutnya, para pihak Rp 1 trillion. The parties then entered
menyepakati Perjanjian Konversi into the Loan to Equity Conversion
Hutang menjadi Ekuitas sesuai Agreement pursuant to the
dengan reorganisasi pemegang shareholding reorganization. After the
saham. Setelah reorganisasi, struktur reorganization, the shareholding
pemegang saham menjadi sebagai structure became as follows: MEI still
berikut: MEI tetap memiliki 99,9% owns 99.9% direct ownership in MLI,
kepemilikan langsung di MLI, which then MLI being the shareholder
kemudian MLI menjadi pemegang of 99.9% MEGS (previously MEI was
saham 99,9% MEGS (sebelumnya the shareholder of 99.9% MEGS) and
MEI yang menjadi pemegang saham MEGS still owns 99.9% direct
99,9% MEGS), dan MEGS tetap ownership in MEP.
memiliki 99,9% kepemilikan langsung
di MEP.
• Pada September 2025, Perusahaan • In September 2025, the Company
dan MLI sepakat untuk and MLI entered into Shares Sale
menandatangani Perjanjian Jual dan and Purchase Agreements of totaling
Beli Saham sebanyak 99,9% saham 99.9% shares in PT Bangkanai LNG
di PT Bangkanai LNG Indonesia Indonesia (“BLI”), amounting to
(“BLI”), senilai Rp50,9 juta. Setelah Rp50.9 million. Upon effectiveness of
transaksi efektif, MLI menjadi the transaction, MLI became the
pemegang saham 99,9% BLI. shareholder of 99.9% BLI.
• Pada Oktober 2025, MLI sepakat • In October 2025, MLI agreed to inject
untuk memberikan setoran modal capital into PT Satria Raksa
kepada PT Satria Raksa Buminusa Buminusa (“SRB”) totaling
(“SRB”) senilai Rp300.862.500 untuk Rp300,862,500 for 95.16% shares.
95,16% kepemilikan saham. Setelah After the capital injection, the total
setoran modal, jumlah modal disetor paid-up capital of SRB became
yang dimiliki SRB menjadi Rp316,162,500,000.
Rp316.162.500.000.
• Pada Desember 2025, Transasia • In December 2025, Transasia
Pipeline Company Pvt. Ltd. (“TPC - Pipeline Company Pvt. Ltd. (“TPC –
sebagai pihak Penjual”) dan MLI as the Seller”) and MLI (as the Buyer)
(sebagai pihak Pembeli) entered into Shares Sale and
menandatangani Perjanjian Jual dan Purchase Agreement to sell and
Beli Saham untuk menjual dan transfer the 543,746 shares
mengalihkan 543.746 lembar saham representing 40% of the subscribed
yang mewakili 40% dari modal and paid-up capital in PT
ditempatkan dan disetor penuh pada Transportasi Gas Indonesia (“TGI”).
PT Transportasi Gas Indonesia Upon effectiveness of the
(“TGI”). Setelah transaksi tersebut transaction, MLI became the
efektif, MLI menjadi pemegang shareholder of 40% TGI.
saham atas 40% kepemilikan di TGI.
22
Page 191
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 189
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas Anak (lanjutan) d. Subsidiaries (continued)
vi. Grup melakukan sejumlah akuisisi dan vi. The Group has undertaken acquisitions
divestasi/penjualan aset sebagaimana and divestments/sale of assets as
diungkapkan dalam Catatan 48. disclosed in Note 48.
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL - POLICIES INFORMATION
a. Dasar Penyusunan Laporan Keuangan a. Basis of the Preparation of the
Konsolidasian Consolidated Financial Statements
Laporan keuangan konsolidasian telah The consolidated financial statements have
disajikan sesuai dengan Standar Akuntansi been prepared in accordance with Indonesian
Keuangan (“SAK”), yang terdiri dari Financial Accounting Standards (“SAK”), which
Pernyataan Standar Akuntansi Keuangan comprise the Statements of Financial
(“PSAK”) dan Interpretasi Standar Akuntansi Accounting Standards (“PSAK”) and
Keuangan (“ISAK”) yang dikeluarkan oleh Interpretations of Financial Accounting
Dewan Standar Akuntansi Keuangan Ikatan Standards (“ISAK”) issued by the Financial
Akuntan Indonesia (“DSAK IAI”) dan Peraturan Accounting Standards Board of the Indonesian
serta Pedoman Penyajian dan Pengungkapan Institute of Accountants (“DSAK IAI”) and the
Laporan Keuangan yang dikeluarkan oleh Regulations and the Guidelines on Financial
Otoritas Jasa Keuangan (“OJK”). Statements Presentation and Disclosures
issued by Financial Services Authority (“OJK”).
Laporan keuangan konsolidasian disusun The consolidated financial statements have
berdasarkan konsep akrual, kecuali arus kas been prepared on the accrual basis, except for
konsolidasian, dengan menggunakan konsep the consolidated statement of cash flows,
biaya historis, kecuali seperti yang disebutkan using the historical cost concept of accounting,
dalam catatan atas laporan keuangan except as disclosed in the relevant Notes to
konsolidasian yang relevan. the consolidated financial statements herein.
Laporan arus kas konsolidasian yang disajikan The consolidated statement of cash flows,
dengan menggunakan metode langsung, which has been prepared using the direct
menyajikan penerimaan dan pengeluaran kas method, presents receipts and disbursements
dan setara kas yang diklasifikasikan ke dalam of cash and cash equivalents classified into
aktivitas operasi, investasi dan pendanaan. operating, investing and financing activities.
Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the Group
Grup adalah selaras bagi tahun yang dicakup are consistently applied for the years covered
oleh laporan keuangan konsolidasian, kecuali by the consolidated financial statements,
untuk standar akuntansi baru dan revisi seperti except for new and revised accounting
diungkapkan pada Catatan 2ee dibawah ini. standards as disclosed in Note 2ee below.
Grup telah menyusun laporan keuangan The Group has prepared the consolidated
konsolidasian dengan dasar bahwa Grup akan financial statements on the basis that it will
menjaga kelangsungan usaha. continue to operate as a going concern.
Mata uang pelaporan yang digunakan dalam The presentation currency used in the
penyusunan laporan keuangan konsolidasian preparation of the consolidated financial
adalah Dolar Amerika Serikat (”Dolar AS”), statements is the United States Dollar (“US
yang juga merupakan mata uang fungsional Dollar”), which also the Company’s functional
Perusahaan dan mata uang pelaporan Grup. currency and the Group’s presentation
Setiap entitas dalam Grup menentukan mata currency. Each entity in the Group determines
uang fungsionalnya masing-masing dan its own functional currency and measures its
mengukur transaksinya dalam mata uang transactions in its respective functional
fungsional tersebut. currency.
23
Page 192
2025 Management Business Company Corporate
190 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip-prinsip Konsolidasi b. Principles of Consolidation
Laporan keuangan konsolidasian terdiri dari The consolidated financial statements
laporan keuangan Perusahaan dan entitas comprise the financial statements of the
anaknya seperti dijelaskan pada Catatan 1d. Company and its subsidiaries as described in
Note 1d.
Laporan keuangan konsolidasian meliputi The consolidated financial statements include
laporan keuangan Grup pada tanggal 31 accounts of the Group at December 31 each
Desember setiap tahun. Kendali diperoleh bila year. Control is achieved when the Group is
Grup terekspos atau memiliki hak atas imbal exposed, or has rights, to the variable returns
hasil variabel dari keterlibatannya dengan from its involvement with the investee and has
investee dan memiliki kemampuan untuk the ability to affect those returns through its
mempengaruhi imbal hasil tersebut melalui power over the investee. Thus, the Group
kekuasaannya atas investee. Dengan controls an investee if and only if the Group
demikian, Grup mengendalikan investee jika has all of the following:
dan hanya jika Grup memiliki seluruh hal
berikut ini:
(a) kekuasaan atas investee, yaitu hak yang (a) power over the investee, is existing rights
ada saat ini yang memberi Grup that give the Group the current ability to
kemampuan saat ini untuk mengarahkan direct the relevant activities of the
aktivitas yang relevan dari investee; investee;
(b) eksposur atau hak atas imbal hasil (b) exposure or rights, to variable returns
variabel dari keterlibatannya dengan from its involvement with the investee;
investee; dan and
(c) kemampuan untuk menggunakan (c) the ability to use its power over the
kekuasaannya atas investee untuk investee to affect its returns.
mempengaruhi jumlah imbal hasil.
Bila Grup memiliki hak suara atau hak serupa When the Group has less than a majority of
kurang dari mayoritas dari suatu investee, the voting or similar rights of an investee, the
Grup mempertimbangkan semua fakta dan Group considers all relevant facts and
keadaan yang relevan dalam mengevaluasi circumstances in assessing whether it has
apakah mereka memiliki kekuasaan atas power over an investee, including:
investee, termasuk:
(a) pengaturan kontraktual dengan pemilik (a) the contractual arrangement with the
hak suara lainnya dari investee; other vote holders of the investee;
(b) hak yang timbul atas pengaturan (b) rights arising from other contractual
kontraktual lain; dan arrangements; and
(c) hak suara dan hak suara potensial yang (c) the Group’s voting rights and potential
dimiliki Grup. voting rights.
Grup menilai kembali apakah mereka The Group re-assesses whether or not it
mengendalikan investee bila fakta dan controls an investee if facts and circumstances
keadaan mengindikasikan adanya perubahan indicate that there are changes to one or more
terhadap satu atau lebih dari ketiga elemen of the three elements of control.
pengendalian.
Entitas anak dikonsolidasi secara penuh sejak Subsidiaries are fully consolidated from the
tanggal akuisisi, yaitu tanggal Perusahaan date of acquisition, being the date on which
memperoleh pengendalian, sampai dengan the Company obtained control, and continue to
tanggal kehilangan pengendalian. Aset, be consolidated until the date such control
liabilitas, penghasilan dan beban dari entitas ceases. Assets, liabilities, income and
anak yang diakuisisi pada tahun tertentu expenses of a subsidiary acquired during the
disertakan dalam laporan keuangan year are included in the consolidated financial
konsolidasian sejak tanggal Grup memperoleh statements from the date the Group obtains
kendali sampai tanggal Grup tidak lagi control and until the date the Group ceases to
mengendalikan entitas anak tersebut. control the subsidiary.
24
Page 193
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 191
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip Konsolidasi (lanjutan) b. Principles of Consolidation (continued)
Seluruh laba rugi dan setiap komponen Profit or loss and each component of other
penghasilan komprehensif lain (“PKL”) comprehensive income (“OCI”) are attributed
diatribusikan pada pemilik entitas induk dan to the equity holders of the parent of the Group
pada kepentingan nonpengendali (“KNP”), and to the non-controlling interests (“NCI”),
walaupun hal ini akan menyebabkan saldo even if this results in the NCI having a deficit
KNP yang defisit. Bila dipandang perlu, balance. When necessary, adjustments are
penyesuaian dilakukan terhadap laporan made to the financial statements of
keuangan entitas anak untuk diselaraskan subsidiaries to bring their accounting policies
dengan kebijakan akuntansi Grup. into line with the Group’s accounting policies.
Laporan keuangan (konsolidasian) entitas The (consolidated) financial statements of the
anak dibuat untuk periode pelaporan yang subsidiaries are prepared for the same
sama dengan Perusahaan, menggunakan reporting period as the Company, using
kebijakan akuntansi yang konsisten. consistent accounting policies.
Semua akun dan transaksi antar Grup yang All material intercompany accounts and
material, termasuk keuntungan atau kerugian transactions, including unrealized gains or
yang belum direalisasi, jika ada, dieliminasi losses, if any, are eliminated to reflect the
untuk mencerminkan posisi keuangan dan financial position and the results of operations
hasil operasi Grup sebagai satu kesatuan of the Group as one business entity.
usaha.
Perubahan dalam bagian kepemilikan entitas A change in the parent’s ownership in a
induk pada entitas anak, yang tidak subsidiary, without loss of control, is
mengakibatkan hilangnya pengendalian, accounted for as an equity transaction. In case
dicatat sebagai transaksi ekuitas. Jika of loss of control over a subsidiary, the Group
kehilangan pengendalian atas suatu entitas derecognizes the related assets (including
anak, maka Grup menghentikan pengakuan goodwill), liabilities, non-controlling interest
aset terkait (termasuk goodwill), kewajiban, (NCI) and other componets of equity, while
kepentingan nonpengendali (KNP) dan any resulting gain or loss is recognized in profit
komponen ekuitas lainnya, sementara laba or loss. Any investment retained is recognized
atau rugi yang dihasilkan dicatat di laporan at fair value.
laba rugi. Nilai investasi yang dipertahankan
dicatat pada nilai wajarnya.
c. Kombinasi Bisnis c. Business Combinations
Kombinasi bisnis dicatat dengan Business combinations are accounted for
menggunakan metode akuisisi. Biaya using the acquisition method. The cost of an
perolehan dari suatu akuisisi diukur dari nilai acquisition is measured as the aggregate of
agregat imbalan yang dialihkan, diukur pada the consideration transferred, measured at
nilai wajar pada tanggal akuisisi dan jumlah acquisition date fair value and the amount of
setiap KNP pada pihak yang diakuisisi. Untuk any NCI in the acquiree. For each business
setiap kombinasi bisnis, Grup mengukur KNP combination, the Group measures the NCI in
pada entitas yang diakuisisi pada nilai wajar the acquiree either at fair value or at the
atau pada proporsi kepemilikan KNP atas aset proportionate share of the acquiree’s
neto yang teridentifikasi dari entitas yang identifiable net assets. Transaction costs
diakuisisi. Biaya-biaya akuisisi yang timbul incurred are directly expensed and included in
dibebankan langsung dan dicatat dalam “Selling, General and Administrative
“Beban Penjualan, Umum dan Administrasi”. Expenses”.
25
Page 194
2025 Management Business Company Corporate
192 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis (lanjutan) c. Business Combinations (continued)
Grup menentukan bahwa mereka telah The Group determines that it has acquired a
mengakuisisi bisnis ketika rangkaian aktivitas business when the acquired set of activities
dan aset yang diakuisisi mencakup input dan and assets include an input and a substantive
proses substantif yang bersama-sama secara process that together significantly contribute to
signifikan berkontribusi pada kemampuan the ability to create outputs. The acquired
untuk menghasilkan output. Proses yang process is considered substantive if it is critical
diperoleh adalah substantif jika penting bagi to the ability to continue producing outputs,
kemampuan untuk terus menghasilkan output, and the inputs acquired include an organized
dan input yang diperoleh mencakup tenaga workforce with the necessary skills,
kerja yang terorganisir dengan keterampilan, knowledge, or experience to perform that
pengetahuan, atau pengalaman yang process or it significantly contributes to the
diperlukan untuk melakukan proses itu atau ability to continue producing outputs and is
secara signifikan berkontribusi pada considered unique or scarce or cannot be
kemampuan untuk terus menghasilkan output replaced without significant cost, effort, or
dan dianggap unik atau langka atau tidak delay in the ability to continue producing
dapat diganti tanpa biaya, usaha, atau outputs.
penundaan yang signifikan dalam kemampuan
untuk terus menghasilkan output.
Ketika melakukan akuisisi atas sebuah bisnis, When the Group acquires a business, it
Grup mengklasifikasikan dan menentukan aset assesses the financial assets acquired and
keuangan yang diperoleh dan liabilitas liabilities assumed for appropriate
keuangan yang diambil alih berdasarkan pada classification and designation in accordance
persyaratan kontraktual, kondisi ekonomi dan with the contractual terms, economic
kondisi terkait lain yang ada pada tanggal circumstances and pertinent conditions as at
akuisisi. the acquisition date.
Imbalan kontinjensi yang akan dibayarkan oleh Any contingent consideration to be transferred
Grup diakui pada nilai wajar pada tanggal by the Group will be recognized at fair value at
akuisisi. Perubahan nilai wajar atas imbalan the acquisition date. Subsequent changes to
kontinjensi setelah tanggal akuisisi yang the fair value of the contingent consideration
diklasifikasikan sebagai aset atau liabilitas, which is deemed to be an asset or liability will
akan diakui dalam laporan laba rugi atau be recognized in accordance with PSAK 109
sebagai penghasilan komprehensif lain sesuai either in profit or loss or as other
dengan PSAK 109 Imbalan kontinjensi lain comprehensive income. Other contingent
yang tidak termasuk dalam PSAK 109 diukur consideration that is not within the scope of
sebesar nilai wajar pada setiap tanggal PSAK 109 is measured at fair value at each
pelaporan dengan perubahan nilai wajar yang reporting date with changes in fair value
diakui pada laba rugi. recognized in profit or loss.
Bila pencatatan awal kombinasi bisnis belum If the initial accounting for a business
dapat diselesaikan pada tanggal pelaporan, combination is incomplete by the end of the
Grup melaporkan jumlah sementara bagi pos reporting, the Group reports provisional
yang pencatatannya belum dapat diselesaikan amounts for the items for which the accounting
tersebut. is incomplete.
26
Page 195
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 193
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis (lanjutan) c. Business Combinations (continued)
Periode pengukuran adalah periode setelah The measurement period is the period after
tanggal akuisisi yang didalamnya Grup dapat the acquisition date during which the Group
melakukan penyesuaian atas jumlah may adjust the provisional amounts
sementara yang diakui dalam kombinasi bisnis recognized for a business combination. During
tersebut. Selama periode pengukuran, Grup the measurement period, the Group
mengakui penambahan aset atau liabilitas bila recognizes additional assets or liabilities if new
terdapat informasi terbaru yang diperoleh information is obtained about facts and
mengenai fakta dan keadaan pada tanggal circumstances that existed as of the
akuisisi, yang bila diketahui pada saat itu, acquisition date and, if known, would have
akan menyebabkan pengakuan atas aset dan resulted in the recognition of those assets and
liabilitas pada tanggal tersebut. liabilities as of that date.
Periode pengukuran berakhir pada saat The measurement period ends as soon as the
pengakuisisi menerima informasi yang Group receives the information it was seeking
diperlukan mengenai fakta dan keadaan pada about facts and circumstances that existed as
tanggal akuisisi atau mengetahui bahwa of the acquisition date or learns that more
informasi lainnya tidak dapat diperoleh, namun information is not obtainable but shall not
tidak lebih dari satu tahun dari tanggal akuisisi. exceed one year from the acquisition date.
Pada tanggal akuisisi, goodwill awalnya diukur At acquisition date, goodwill is initially
pada harga perolehan yang merupakan selisih measured at cost being the excess of the
lebih nilai agregat dari imbalan yang dialihkan aggregate of the consideration transferred and
dan jumlah setiap KNP atas selisih jumlah dari the amount recognized for NCI over the net
aset teridentifikasi yang diperoleh dan liabilitas identifiable assets acquired and liabilities
yang diambil alih. assumed.
Jika imbalan tersebut lebih rendah dari nilai If this consideration is lower than the fair value
wajar aset neto entitas anak yang diakuisisi, of the net assets of the subsidiary acquired,
selisih tersebut diakui pada laba rugi sebagai the difference is recognized in profit or loss as
keuntungan dari pembelian dengan diskon gain on bargain purchase after previously
setelah sebelumnya manajemen melakukan assessing the identification and fair value
penilaian atas identifikasi dan nilai wajar dari measurement of the acquired assets and the
aset yang diperoleh dan liabilitas yang diambil assumed liabilities.
alih.
Setelah pengakuan awal, goodwill diukur pada After initial recognition, goodwill is measured
jumlah tercatat dikurangi akumulasi kerugian at cost less accumulated impairment losses, if
penurunan nilai, jika ada. Untuk tujuan uji any. For the purpose of impairment testing,
penurunan nilai, goodwill yang diperoleh dari goodwill acquired in a business combination is
suatu kombinasi bisnis dialokasikan sejak allocated from the acquisition date to each of
tanggal akuisisi kepada setiap unit penghasil the Group’s cash-generating units (“CGU”) that
kas (“UPK”) dari Grup yang diharapkan akan are expected to receive benefit from the
memperoleh manfaat dari kombinasi tersebut, combination, irrespective of whether other
terlepas dari apakah aset atau liabilitas lain assets or liabilities of the acquirer are assigned
dari pihak yang mengakuisisi dialokasikan to those CGUs.
kepada UPK tersebut.
Jika goodwill telah dialokasikan pada suatu Where goodwill forms part of a CGU and part
UPK dan operasi tertentu dalam UPK tersebut of the operation within that CGU is disposed
dilepas, maka goodwill yang terasosiasi of, the goodwill associated with the operation
dengan operasi yang dilepas tersebut disposed of is included in the carrying amount
dimasukkan dalam jumlah tercatat operasi of the operation when determining the gain or
tersebut ketika menentukan keuntungan atau loss on disposal of the operation. Goodwill
kerugian dari pelepasan operasi. Goodwill disposed of in this circumstance is measured
yang dilepaskan tersebut diukur berdasarkan based on the relative values of the operation
nilai relatif operasi yang dilepas dan porsi UPK disposed of and the portion of the CGU
yang ditahan. retained.
27
Page 196
2025 Management Business Company Corporate
194 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis (lanjutan) c. Business Combinations (continued)
Kombinasi Bisnis Entitas Sepengendali Business Combination of Entities Under
Common Control
Berdasarkan PSAK 338, karena transaksi Under PSAK 338, since the transaction of
kombinasi bisnis entitas sepengendali tidak business combination of entities under
mengakibatkan perubahan substansi ekonomi common control does not result in a change of
kepemilikan atas bisnis yang dipertukarkan, the economic substance of the ownership of
transaksi tersebut diakui pada nilai tercatat businesses which are exchanged, the said
berdasarkan metode penyatuan kepemilikan. transaction is recognized at its carrying
Dalam menerapkan metode penyatuan amount using the pooling-of-interest method.
kepemilikan, unsur-unsur laporan keuangan In applying the pooling-of-interest method, the
dari entitas yang bergabung, untuk tahun components of the financial statements of the
terjadinya kombinasi bisnis entitas combining entities, for the year during which
sepengendali dan untuk tahun komparatif the business combination of entities under
sajian, disajikan seolah-olah penggabungan common control occurred and for the
tersebut telah terjadi sejak awal tahun entitas comparative year, are presented in such a
yang bergabung berada dalam manner as if the combination has occurred
sepengendalian. Selisih antara jumlah imbalan since the beginning of the year of the
yang dialihkan dalam kombinasi bisnis entitas combining entity under common control.
sepengendali atau jumlah imbalan yang Difference in value of considerations
diterima dalam pelepasan bisnis entitas transferred in a business combination of
sepengendali, jika ada, dengan nilai tercatat entities under common control or
bisnis tersebut dicatat sebagai bagian dari considerations received in a disposal of
akun "Tambahan Modal Disetor" pada laporan business of entities under common control, if
posisi keuangan konsolidasian. any, with its carrying amount is recognized as
part of "Additional Paid-in Capital" in the
consolidated statements of financial position.
d. Penentuan Nilai Wajar d. Determination of Fair Value
Grup mengukur instrumen keuangan seperti The Group measures financial instruments
derivatif dan investasi jangka pendek pada such as derivatives and short-term
nilai wajar pada setiap tanggal pelaporan. investments at fair value at each reporting
Pengungkapan nilai wajar untuk instrumen date. Fair value related disclosures for
keuangan disajikan dalam Catatan 46. financial instruments are disclosed in Note 46.
Nilai wajar adalah harga yang akan diterima Fair value is the price that would be received
untuk menjual suatu aset atau harga yang to sell an asset or paid to transfer a liability in
akan dibayar untuk mengalihkan suatu an orderly transaction between market
liabilitas dalam transaksi teratur antara pelaku participants at the measurement date. The fair
pasar pada tanggal pengukuran. Pengukuran value measurement is based on the
nilai wajar berdasarkan asumsi bahwa presumption that the transaction to sell the
transaksi untuk menjual aset atau asset or transfer the liability takes place either:
mengalihkan liabilitas terjadi di:
• Pasar utama untuk aset dan liabilitas • In the principal market for the asset or
tersebut; atau liability; or
• Jika tidak terdapat pasar utama, di pasar • In the absence of a principal market, in the
yang paling menguntungkan untuk aset most advantageous market for the asset or
atau liabilitas tersebut liability.
28
Page 197
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 195
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Penentuan Nilai Wajar (lanjutan) d. Determination of Fair Value (continued)
Grup harus memiliki akses ke pasar utama The principal or the most advantageous
atau pasar yang paling menguntungkan market must be accessible by the Group.
tersebut.
Nilai wajar aset dan liabilitas diukur The fair value of an asset and a liability is
menggunakan asumsi yang akan digunakan measured using the assumptions that market
pelaku pasar ketika menentukan harga aset participants would use when pricing the asset
atau liabilitas tersebut, dengan asumsi bahwa or liability, assuming that market participants
pelaku pasar bertindak dalam kepentingan act in their economic best interest.
ekonomi terbaiknya.
Pengukuran nilai wajar dari suatu aset A fair value measurement of a non-financial
nonkeuangan memperhitungkan kemampuan asset takes into account a market participant's
pelaku pasar untuk menghasilkan manfaat ability to generate economic benefits by using
ekonomi dengan menggunakan aset dalam the asset in its highest and best use or by
penggunaan tertinggi dan terbaiknya atau selling it to another market participant that
dengan menjualnya kepada pelaku pasar lain would use the asset in its highest and best
yang akan menggunakan aset tersebut pada use.
penggunaan tertinggi dan terbaiknya.
Grup menggunakan teknik penilaian yang The Group uses valuation techniques that are
sesuai dalam keadaan dan dimana data yang appropriate in the circumstances and for which
memadai tersedia untuk mengukur nilai wajar, sufficient data are available to measure fair
memaksimalkan penggunaan input yang dapat value, maximizing the use of relevant
diobservasi yang relevan dan meminimalkan observable inputs and minimizing the use of
penggunaan input yang tidak dapat unobservable inputs.
diobservasi.
Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is
diukur atau diungkapkan dalam laporan measured or disclosed in the consolidated
keuangan konsolidasian dikategorikan dalam financial statements are categorized within the
hierarki nilai wajar, sebagaimana dijelaskan di fair value hierarchy, described as follows,
bawah ini, berdasarkan tingkatan level input based on the lowest level input that is
yang terendah yang signifikan terhadap significant to the fair value measurement as a
pengukuran nilai wajar secara keseluruhan: whole:
• Level 1 - harga kuotasian (tanpa • Level 1 - quoted (unadjusted) market
penyesuaian) di pasar aktif untuk aset atau prices in active markets for identical assets
liabilitas yang identik. or liabilities.
• Level 2 - teknik penilaian di mana tingkat • Level 2 - valuation techniques for which the
level input terendah yang signifikan lowest level input that is significant to the
terhadap pengukuran nilai wajar dapat fair value measurement is directly or
diobservasi baik secara langsung atau indirectly observable.
tidak langsung.
• Level 3 - teknik penilaian dimana tingkat • Level 3 - valuation techniques for which the
level input terendah yang signifikan lowest level input that is significant to the
terhadap pengukuran nilai wajar tidak fair value measurement is directly or
dapat diobservasi baik secara langsung indirectly unobservable.
atau tidak langsung.
29
Page 198
2025 Management Business Company Corporate
196 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Penentuan Nilai Wajar (lanjutan) d. Determination of Fair Value (continued)
Untuk aset dan liabilitas yang diukur nilai For assets and liabilities that are recognized in
wajarnya secara berulang dalam laporan the consolidated financial statements at fair
keuangan konsolidasian, Grup menentukan value on a recurring basis, the Group
apakah perpindahan antar level hierarki telah determines whether transfers have occurred
terjadi dengan melakukan evaluasi between levels in the hierarchy by re-
pengelompokan pada setiap akhir periode assessing categorization at the end of each
pelaporan. reporting period.
Komite Valuasi Grup menentukan kebijakan The Group’s Valuation Committee determines
dan prosedur terkait pengukuran nilai wajar the policies and procedures for recurring fair
yang sering dilakukan, seperti aset finansial value measurement, such as unquoted
tanpa kuotasian, dan untuk pengukuran tidak financial assets, and for non-recurring
berulang, seperti aset yang dimiliki untuk dijual measurement, such as assets held for sales in
dalam operasi yang dihentikan. Komite Valuasi discontinued operations. The Valuation
terdiri dari pimpinan divisi Corporate Planning Committee is comprised of the head of the
and Investor Relations Grup. Group’s Corporate Planning and Investor
Relations.
Penilai independen terlibat dalam penilaian Independent appraisers are involved for
untuk aset-aset yang signifikan, seperti valuation of significant assets, such as
investasi pada aset finansial tanpa kuotasian. investment in unquoted financial assets.
Keterlibatan penilai independen ini dilakukan Involvement of independent appraisers is
secara tahunan oleh Komite Valuasi setelah determined annually by the Valuation
didiskusikan dengan dan persetujuan oleh Committee after discussion with and approval
Direktur Perusahaan. Kriteria penunjukan by the Company’s Director. Selection criteria
termasuk pengetahuan pasar, reputasi, include market knowledge, reputation,
independensi dan standar profesional yang independence and whether professional
diterapkan. Komite Valuasi memutuskan, standards are maintained. The Valuation
setelah diskusi dengan penilai independen, Committee decides, after discussions with the
mengenai teknik valuasi dan input untuk independent appraisers, which valuation
digunakan untuk setiap penilaian. techniques and inputs to use for each
valuation.
Pada setiap tanggal pelaporan, divisi At each reporting date, the Group’s Corporate
Corporate Planning and Investor Relations Planning and Investor Relations together with
Grup bersama dengan divisi Aset Non-operasi the Group’s Non-operated Assets Division
Grup, menganalisa pergerakan atas nilai aset analysis the movements in the values of asset
yang mengharuskan untuk diukur ulang atau which are required to be remeasured or re-
dinilai ulang sesuai dengan kebijakan Grup. assessed as per the Group’s accounting
Untuk keperluan analisa, Komite Valuasi policies. For this analysis, the Valuation
melakukan verifikasi untuk input-input utama Committee verifies the major inputs applied in
yang ada pada perhitungan valuasi terakhir the latest valuation by agreeing the information
dan melakukan pencocokan informasi dalam in the valuation computation to contracts and
perhitungan dengan kontrak-kontrak dan other relevant documents, they also compares
dokumen-dokumen terkait, mereka juga the change in the fair value of each asset and
membandingkan perubahan nilai wajar untuk liability with relevant external sources to
setiap aset dan liabilitas dengan sumber determine whether the change is reasonable.
eksternal terkait untuk menentukan apakah
perubahan tersebut cukup wajar.
30
Page 199
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 197
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Penentuan Nilai Wajar (lanjutan) d. Determination of Fair Value (continued)
Untuk keperluan pengungkapan nilai wajar, For the purpose of fair value disclosures, the
Grup telah menentukan kelas aset dan Group has determined classes of assets and
liabilitas berdasarkan sifat, karakteristik dan liabilities based on the nature, characteristics
risiko atas aset atau liabilitas tersebut dan and risks of the asset or liability and the level
level hierarki nilai wajar seperti dijelaskan di of the fair value hierarchy as explained above.
atas.
e. Transaksi dan Saldo dalam Mata Uang e. Foreign Currency Transactions and
Asing Balances
Laporan keuangan konsolidasian disajikan The consolidated financial statements are
dalam Dolar AS, yang merupakan mata uang presented in US Dollar, which is the
fungsional Perusahaan dan mata uang Company’s functional currency and the
penyajian Grup. Setiap entitas dalam Grup Group’s presentation currency. Each entity in
menentukan mata uang fungsionalnya sendiri the Group determines its own functional
dan laporan keuangannya diukur currency and their financial statements are
menggunakan mata uang fungsional. measured using that functional currency.
Transaksi dan Saldo Transactions and Balances
Seluruh aset dan liabilitas moneter dalam All monetary assets and liabilities denominated
mata uang selain Dolar AS dijabarkan ke Dolar in currencies other than US Dollar are
AS dengan menggunakan kurs tengah Bank translated to US Dollar at the Bank of
Indonesia yang berlaku pada tanggal Indonesia’s middle exchange rates prevailing
pelaporan. Keuntungan atau kerugian neto on the reporting date. The resulting net foreign
dari selisih kurs dikreditkan atau dibebankan exchange gains or losses are credited or
ke operasi berjalan. charged to current operations.
Grup Perusahaan Group Companies
Untuk tujuan konsolidasi, aset dan liabilitas For consolidation purposes, assets and
entitas anak, yang mempunyai mata uang liabilities of subsidiaries with functional
fungsional selain Dolar AS dijabarkan ke mata currency other than US Dollar are translated
uang penyajian Grup yaitu Dolar AS dengan into the Group presentation currency which is
menggunakan pedoman berikut ini: the US Dollar using the following basis:
(a) Aset dan liabilitas, baik moneter dan non- (a) Assets and liabilities, both monetary and
moneter, dijabarkan dengan menggunakan non-monetary, are translated using the
kurs tukar yang berlaku pada akhir tanggal rates of exchange prevailing at the end of
pelaporan, sedangkan akun-akun ekuitas financial reporting date, while equity
dijabarkan dengan menggunakan kurs accounts are translated using historical
tukar historis; rates of exchange;
(b) Pendapatan dan beban serta arus kas (b) Revenues and expenses and cash flows
dijabarkan dengan menggunakan kurs are translated using average rates of
tukar rata-rata; exchange;
(c) Selisih kurs tukar yang terjadi dikreditkan (c) The resulting foreign exchange differences
atau dibebankan ke akun “Penghasilan arising on translation for consolidation are
Komprehensif Lain - Selisih Kurs karena recognized in “Other Comprehensive
Penjabaran Laporan Keuangan” yang Income - Translation Adjustments”, under
disajikan pada bagian Ekuitas di laporan the Equity section of the consolidated
posisi keuangan konsolidasian, sampai statements of financial position, until the
pelepasan investasi neto yang disposal of the net investment or the
bersangkutan atau kegiatan usaha luar foreign operation.
negeri.
31
Page 200
2025 Management Business Company Corporate
198 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
e. Transaksi dan Saldo dalam Mata Uang e. Foreign Currency Transactions and
Asing (lanjutan) Balances (continued)
Kurs yang digunakan pada tanggal At December 31, 2025 and 2024, the
31 Desember 2025 dan 2024 atas saldo exchange rates used for significant foreign
dalam mata uang asing yang signifikan adalah currency-denominated balances are as
sebagai berikut: follows:
2025 2024
Rupiah/AS$1 0,000060 0,000062 Rupiah/US$1
Euro/AS$1 1,1771 1,0427 Euro/US$1
Dolar Australia/AS$1 0,6707 0,6238 Australian Dollar/US$1
Dolar Singapura/AS$1 0,7787 0,7375 Singapore Dollar/US$1
Poundsterling Britania Raya/AS$1 1,3506 1,2581 Great Britain Poundsterling/US$1
Thailand Baht/AS$1 0,0317 0,0295 Thailand Baht/US$1
Vietnam Dong/AS$1 0,000038 0,000039 Vietnam Dong/US$1
f. Transaksi-transaksi dengan Pihak-Pihak f. Transactions with Related Parties
Berelasi
Grup mempunyai transaksi dengan pihak The Group has transactions with related
berelasi sebagaimana didefinisikan pada parties as defined in PSAK 224.
PSAK 224.
Transaksi ini dilakukan berdasarkan The transactions are made based on terms
persyaratan yang disetujui oleh kedua belah agreed by the parties. Such terms may not be
pihak. Beberapa persyaratan tersebut mungkin the same as those of the transactions between
tidak sama dengan persyaratan yang unrelated parties.
dilakukan dengan pihak-pihak yang tidak
berelasi.
Seluruh transaksi dan saldo dengan pihak- All significant transaction and balances with
pihak berelasi yang signifikan diungkapkan related parties are disclosed in the notes to the
dalam catatan atas laporan keuangan consolidated financial statements.
konsolidasian.
g. Setara Kas dan Kas di Bank dan Deposito g. Cash Equivalents and Restricted Cash in
Berjangka yang Dibatasi Penggunaannya Banks and Time Deposits
Deposito berjangka dan investasi jangka Time deposits and other short-term
pendek lainnya dengan jangka waktu tiga investments with a maturity date of three
bulan atau kurang sejak tanggal penempatan months or less at the time of placement which
yang tidak digunakan sebagai jaminan atau are not used as collateral or are not restricted
dibatasi penggunaannya, diklasifikasikan as to use, are classified as “Cash Equivalents”.
sebagai “Setara Kas”.
32
Page 201
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 199
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
g. Setara Kas dan Kas di Bank dan Deposito g. Cash Equivalents and Restricted Cash in
Berjangka yang Dibatasi Penggunaannya Banks and Time Deposits (continued)
(lanjutan)
Deposito dan rekening bank yang dibatasi Restricted time deposits and cash in banks
penggunaannya yang akan digunakan untuk which will be used to pay currently maturing
membayar utang yang jatuh tempo dalam satu obligations is presented under current assets.
tahun disajikan sebagai aset lancar. Rekening Other current accounts and time deposits
bank lainnya dan deposito berjangka yang which are pledged or restricted as to use are
dipakai sebagai agunan atau dibatasi presented under non-current assets.
penggunaannya disajikan sebagai aset tidak
lancar.
h. Persediaan h. Inventories
Persediaan minyak mentah, suku cadang dan Inventories of crude oil, spare parts and
perlengkapan untuk operasi dinyatakan supplies used for operations are stated at cost
sebesar biaya perolehan atau nilai realisasi or net realizable value, whichever is lower.
neto, mana yang lebih rendah. Biaya Cost is determined using the weighted
perolehan ditentukan dengan menggunakan average method or the average method. Net
metode rata-rata tertimbang atau metode rata- realizable value is a reasonable selling price in
rata. Nilai realisasi neto adalah estimasi harga normal process less the estimated costs of
jual yang wajar di dalam proses usaha normal completion and estimated costs necessary to
setelah dikurangi dengan estimasi biaya untuk make the sale. Allowance for decline in value
menyelesaikan dan estimasi biaya and obsolescence of inventories is provided
penjualannya yang diperlukan. Cadangan based on a review of the individual inventory
untuk penurunan nilai keusangan persediaan items at the end of the year.
ditentukan berdasarkan penelaahan terhadap
keadaan masing-masing persediaan pada
akhir tahun.
i. Aset Tetap i. Property, Plant and Equipment
Aset tetap, kecuali tanah, dinyatakan sebesar Property, plant and equipment, except land,
biaya perolehan dikurangi akumulasi are stated at cost less accumulated
penyusutan dan penurunan nilai. Biaya depreciation and impairment losses. Such cost
perolehan aset tetap termasuk biaya includes the cost of replacing part of the
penggantian bagian dari aset tetap pada saat property, plant and equipment when that cost
terjadinya biaya, jika kriteria pengakuannya is incurred, if the recognition criteria are met.
terpenuhi. Demikian pula, ketika pemeriksaan Likewise, when a major inspection is
utama dilakukan, biaya pemeriksaan diakui performed, its cost is recognized in the
sebagai nilai tercatat aset sebagai carrying amount of the property, plant and
penggantian jika kriteria pengakuan terpenuhi. equipment as a replacement if the recognition
Semua biaya perbaikan dan perawatan yang criteria are satisfied. All other repairs and
tidak memenuhi kriteria pengakuan diakui maintenance costs that do not meet the
pada laporan laba rugi pada saat terjadinya. recognition criteria are recognized in profit or
loss as incurred.
33
Page 202
2025 Management Business Company Corporate
200 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
i. Aset Tetap (lanjutan) i. Property, Plant and Equipment (continued)
Penyusutan dihitung dengan menggunakan Depreciation is computed using the straight-
metode garis lurus berdasarkan estimasi masa line method based on the estimated useful
manfaat ekonomis aset tetap sebagai berikut: lives of the property, plant and equipment as
follows:
Tahun/
Years
Bangunan dan prasarana 20 Buildings and improvements
Mesin 8 - 25 Machinery
Perlengkapan pengeboran, marine vessels, dan
8 - 30 Drilling rigs, marine vessels, and equipments
peralatan
Kendaraan bermotor 4 - 10 Vehicles
Leasehold improvements 3-8 Leasehold improvements
Peralatan kantor dan lainnya 3-5 Office and other equipment
Peralatan 4 Tools
Tanah dinyatakan berdasarkan biaya Land is stated at cost and is not depreciated.
perolehan dan tidak disusutkan.
Biaya pengurusan legal hak atas tanah dalam The legal cost of land rights in the form of
bentuk Hak Guna Bangunan (“HGB”) yang Building Usage Rights (“HGB”) incurred when
dikeluarkan ketika tanah diperoleh pertama the land was acquired initially is recognized as
kali diakui sebagai bagian dari biaya perolehan part of the cost of the land under “Property,
tanah pada akun “Aset Tetap” dan tidak Plant and Equipment” account and not
diamortisasi. Sementara biaya pengurusan amortized. Meanwhile the extension or the
perpanjangan atau pembaruan legal hak atas legal renewal costs of land rights are
tanah diakui sebagai aset tak berwujud dan recognized as intangible assets and amortized
diamortisasi sepanjang umur hukum hak atau over the shorter of the rights’ legal life or land’s
umur ekonomis tanah, mana yang lebih economic life.
pendek.
Aset tetap dihentikan pengakuannya dari An item of property, plant and equipment is
laporan posisi keuangan konsolidasian pada derecognized from the consolidated
saat penjualan atau saat tidak ada manfaat statements of financial position upon disposal
masa depan dari penggunaan atau penjualan or when no future economic benefits are
aset tersebut. Segala keuntungan dan expected from its use or disposal. Any gain or
kerugian yang timbul dari penghentian loss arising on derecognition of the asset
pengakuan aset (dihitung sebagai perbedaan (calculated as the difference between the net
hasil penjualan neto dan nilai tercatat dari disposal proceeds and the carrying amount of
aset) diakui dalam laporan laba rugi pada saat the asset) is recognized in profit or loss in the
aset dihentikan pengakuannya. period the asset is derecognized.
Nilai sisa aset, estimasi umur ekonomis dan The assets’ residual values, useful lives and
metode penyusutan ditelaah dan disesuaikan method of depreciation are reviewed and
secara prospektif setiap tanggal pelaporan adjusted prospectively, if appropriate, at each
keuangan, jika memadai. financial reporting date.
Aset tetap dalam pembangunan dinyatakan Construction in progress is stated at cost. The
sebesar biaya perolehan. Akumulasi biaya accumulated costs are reclassified to the
perolehan direklasifikasi ke akun aset tetap appropriate property, plant and equipment
yang bersangkutan pada saat pembangunan account when the construction is substantially
selesai dan aset tersebut telah siap untuk completed and the asset is ready for its
digunakan. intended use.
34
Page 203
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 201
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Investasi pada Entitas Asosiasi dan j. Investment in Associates and Joint
Ventura Bersama Ventures
Entitas asosiasi adalah entitas yang An associate is an entity over which the Group
terhadapnya Grup memiliki pengaruh has significant influence. Significant influence
signifikan. Pengaruh signifikan adalah is the power to participate in the financial and
kekuasaan untuk berpartisipasi dalam operating policy decisions of the investee, but
keputusan kebijakan keuangan dan not control or joint control over those policies.
operasional investee, tetapi tidak
mengendalikan atau mengendalikan bersama
atas kebijakan tersebut
Ventura bersama adalah pengaturan bersama A joint venture is a type of joint arrangement
dimana para pihak yang memiliki whereby the parties that have joint control of
pengendalian bersama atas pengaturan the arrangement have rights to the net assets
memiliki hak atas aset neto dari ventura of the joint venture. Joint control is the
bersama. Pengendalian bersama adalah contractually agreed sharing of control of an
persetujuan kontraktual untuk berbagi arrangement, which exists only when
pengendalian atas suatu pengaturan, yang decisions about the relevant activities require
ada hanya ketika keputusan tentang aktivitas unanimous consent of the parties sharing
relevan mensyaratkan persetujuan dengan control.
suara bulat dari seluruh pihak yang berbagi
pengendalian.
Pertimbangan yang dibuat dalam menentukan The considerations made in determining
pengaruh signifikan adalah serupa dengan significant influence are similar to those
hal-hal yang diperlukan dalam menentukan necessary to determine control over
kendali atas entitas anak. subsidiaries.
Sesuai dengan metode ekuitas, investasi pada Under the equity method, the investment in an
entitas asosiasi dan ventura bersama diakui associate and joint venture is initially
pada awalnya sebesar biaya perolehan. Nilai recognized at cost. The carrying amount of the
tercatat investasi tersebut selanjutnya investment is adjusted to recognize changes in
disesuaikan untuk mengakui perubahan pasca the Group’s share of net assets of the
perolehan dalam bagian Grup atas aset neto associate and joint venture since the
dari entitas asosiasi dan ventura bersama acquisition date. Goodwill relating to the
tersebut sejak tanggal akuisisi. Goodwill associate and joint venture is included in the
sehubungan dengan entitas asosiasi diakui carrying amount of the investment and is
dalam nilai tercatat investasi dan tidak neither amortized nor individually tested for
diamortisasi maupun dilakukan pengujian impairment.
penurunan nilai secara individual.
35
Page 204
2025 Management Business Company Corporate
202 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Investasi pada Entitas Asosiasi dan j. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Laporan laba rugi dan penghasilan The consolidated statements of profit or loss
komprehensif lain konsolidasian and other comprehensive income reflects the
mencerminkan bagian Grup atas hasil operasi Group’s share of the results of operations of
dari entitas asosiasi dan ventura bersama. Bila the associates and joint venture. Any change
terdapat perubahan dalam pendapatan in other comprehensive income (OCI) of those
komprehensif lainnya pada entitas asosiasi investees is presented as part of the Group’s
dan ventura bersama, disajikan sebagai OCI. In addition, when there has been a
pendapatan komprehensif lainnya Grup. Bila change recognized directly in the equity of the
terdapat perubahan yang diakui langsung associate, the Group recognizes its share of
pada ekuitas dari entitas asosiasi, Grup any changes, when applicable, in the
mengakui bagiannya atas perubahan tersebut consolidated statements of changes in equity.
dan mengungkapkan hal ini, jika dapat Unrealized gains and losses resulting from
diterapkan, dalam laporan perubahan ekuitas transactions between the Group and the
konsolidasian. Laba atau rugi yang belum associate and joint venture are eliminated to
direalisasi sebagai hasil dari transaksi antara the extent of the interest in the associate and
Grup dengan entitas asosiasi dan ventura joint venture.
bersama dieliminasi sesuai dengan jumlah
kepentingan Grup dalam entitas asosiasi dan
ventura bersama.
Gabungan bagian Grup atas laba rugi entitas The aggregate of the Group’s share of profit or
asosiasi disajikan pada muka laporan laba rugi loss of an associate is shown on the face of
dan penghasilan komprehensif lain the consolidated statement of profit or loss and
konsolidasian (sebagai laba atau rugi) di luar other comprehensive income (as profit or loss)
laba usaha dan mencerminkan laba atau rugi outside operating profit and represents profit or
setelah pajak dan kepentingan nonpengendali loss after tax and NCI in the subsidiaries of the
pada entitas anak dari entitas asosiasi. associate.
Laporan keuangan entitas asosiasi dan The financial statements of the associate and
ventura bersama disusun untuk periode joint venture are prepared for the same
pelaporan yang sama dengan Grup. Jika reporting period as the Group. When
diperlukan, penyesuaian dilakukan untuk necessary, adjustments are made to bring
menyeragamkan dengan kebijakan akuntansi their accounting policy in line with those of the
Grup. Group.
Setelah penerapan metode ekuitas, Grup After application of the equity method, the
menentukan apakah diperlukan untuk Group determines whether it is necessary to
mengakui rugi penurunan nilai atas investasi recognize an impairment loss on its investment
dalam entitas asosiasi dan ventura bersama. in its associate and joint venture.
Grup menentukan pada setiap tanggal At its reporting date, the Group determines
pelaporan apakah terdapat bukti yang objektif whether there is objective evidence that the
yang mengindikasikan bahwa investasi dalam investment in the associate is impaired. If
entitas asosiasi mengalami penurunan nilai. there is such evidence, the Group calculates
Dalam hal terdapat bukti yang objektif, Grup the amount of impairment as the difference
menghitung jumlah penurunan nilai between the recoverable amount of the
berdasarkan selisih antara jumlah terpulihkan associate and joint venture and its carrying
atas investasi dalam entitas asosiasi dan value, and then recognizes the loss as “Share
ventura bersama dan nilai tercatatnya dan of net income (loss) of associates and joint
mengakui kerugian tersebut sebagai “Bagian venture” in the statement of profit or loss.
laba (rugi) dari entitas asosiasi dan ventura
bersama” di dalam laporan laba rugi.
36
Page 205
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 203
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Investasi pada Entitas Asosiasi dan j. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Pada saat kehilangan pengaruh signifikan Upon loss of significant influence over the
terhadap entitas asosiasi dan ventura associate and joint venture, the Group
bersama, Grup mengukur dan menilai measures and recognizes any retained
investasi yang tersisa pada nilai wajarnya. investment at its fair value. Any difference
Selisih yang timbul atas nilai tercatat dengan between the carrying amount of the associate
nilai wajarnya pada saat kehilangan pengaruh upon loss of significant influence or joint
signifikan dan hasil yang diterima pada saat control and the fair value of the retained
pelepasan diakui dalam laporan laba rugi. investment and proceeds from disposal is
recognized in statement of profit or loss.
k. Sewa k. Leases
Grup menilai pada awal kontrak apakah suatu The Group assesses at contract inception
kontrak adalah, atau mengandung, sewa. whether a contract is, or contains, a lease.
Artinya, jika kontrak memberikan hak untuk That is, if the contract conveys the right to
mengendalikan penggunaan aset control the use of an identified asset for a
teridentifikasi untuk suatu periode waktu period of time in exchange for consideration.
sebagai pertukaran untuk imbalan.
Grup sebagai Penyewa The Group as Lessee
Grup menerapkan pendekatan pengakuan dan The Group applies a single recognition and
pengukuran tunggal untuk seluruh sewa, measurement approach for all leases, except
kecuali untuk sewa jangka pendek dan sewa for short-term leases and leases of low-value
aset bernilai rendah. Grup mengakui liabilitas assets. The Group recognizes lease liabilities
sewa untuk melakukan pembayaran sewa dan to make lease payments and right-of-use
aset hak-guna yang memberikan hak untuk assets representing the right to use the
menggunakan aset pendasarnya. underlying assets.
Aset hak-guna Right-of-use assets
Grup mengakui aset hak-guna pada tanggal The Group recognizes right-of-use assets at
permulaan sewa (yaitu, pada tanggal aset the commencement date of the lease (i.e., the
pendasar tersedia untuk digunakan). Aset hak- date the underlying asset is available for use).
guna diukur pada biaya perolehan dikurangi Right-of-use assets are measured at cost, less
akumulasi penyusutan dan rugi penurunan any accumulated depreciation and impairment
nilai, dan disesuaikan untuk setiap pengukuran losses, and adjusted for any remeasurement
kembali liabilitas sewa. Biaya perolehan aset of lease liabilities. The cost of right-of-use
hak-guna meliputi jumlah liabilitas sewa yang assets includes the amount of lease liabilities
diakui, biaya langsung awal yang dikeluarkan, recognized, initial direct costs incurred, and
dan pembayaran sewa yang dilakukan pada lease payments made at or before the
atau sebelum tanggal permulaan, dikurangi commencement date less any lease incentives
dengan insentif sewa yang diterima. received.
37
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2025 Management Business Company Corporate
204 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Sewa (lanjutan) k. Leases (continued)
Grup sebagai Penyewa (lanjutan) The Group as Lessee (continued)
Aset hak-guna (lanjutan) Right-of-use assets (continued)
Aset hak-guna didepresiasi dengan metode Right-of-use assets are depreciated on a
garis lurus selama jangka waktu yang lebih straight-line basis over the shorter of the lease
pendek antara masa sewa dan estimasi umur term and the estimated useful lives of the
manfaat aset, sebagai berikut: assets, as follows:
Tahun/
Years
Peralatan 2-6 Equipment
Bangunan dan prasarana 2 - 13 Building and land improvement
Mesin 2-6 Machinery
Kendaraan 2-5 Vehicles
Jika kepemilikan aset sewa beralih kepada If ownership of the leased asset transfers to
Grup pada akhir masa sewa atau biaya the Group at the end of the lease term or the
perolehan merefleksikan penyewa akan cost reflects the exercise of a purchase option,
mengeksekusi opsi beli, depresiasi dihitung depreciation is calculated using the estimated
dengan mengunakan estimasi umur manfaat useful life of the asset. The right-of-use assets
aset. Aset hak-guna juga diuji penurunan are also subject to impairment in accordance
nilainya sesuai dengan PSAK 236 “Penurunan with PSAK 236 “Impairment of Assets”.
Nilai Aset”.
Liabilitas sewa Lease liabilities
Pada tanggal dimulainya sewa, Grup At the commencement date of the lease, the
mengakui liabilitas sewa yang diukur pada Group recognizes lease liabilities measured at
nilai kini pembayaran sewa yang harus the present value of lease payments to be
dilakukan selama masa sewa. Pembayaran made over the lease term. The lease
sewa mencakup pembayaran tetap (termasuk payments include fixed payments (including
pembayaran tetap secara substansi) dikurangi in-substance fixed payments) less any lease
piutang insentif sewa, pembayaran sewa incentives receivable, variable lease payments
variabel yang bergantung pada indeks atau that depend on an index or a rate, and
tarif, dan jumlah yang diharapkan akan amounts expected to be paid under
dibayar dibawah jaminan nilai sisa. guaranteed residual value. The lease
Pembayaran sewa juga mencakup harga payments also include the exercise price of a
pelaksanaan dari opsi pembelian yang secara purchase option reasonably certain to be
wajar pasti akan dilaksanakan oleh Grup dan exercised by the Group and payments of
pembayaran denda untuk penghentian sewa, penalties for terminating the lease, if the lease
jika masa sewa mencerminkan Grup term reflects the Group exercising the option
melaksanakan opsi untuk mengakhiri. to terminate. Variable lease payments that do
Pembayaran sewa variabel yang tidak not depend on an index or a rate are
bergantung pada indeks atau tarif diakui recognized as expenses (unless they are
sebagai beban (kecuali terjadi untuk incurred to produce inventories) in the period
menghasilkan persediaan) pada periode in which the event or condition that triggers
dimana peristiwa atau kondisi yang memicu the payment occurs.
terjadinya pembayaran.
38
Page 207
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 205
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Sewa (lanjutan) k. Leases (continued)
Grup sebagai Penyewa (lanjutan) The Group as Lessee (continued)
Liabilitas sewa (lanjutan) Lease liabilities (continued)
Dalam menghitung nilai kini pembayaran In calculating the present value of lease
sewa, Grup menggunakan suku bunga payments, the Group uses its incremental
pinjaman inkremental pada tanggal dimulainya borrowing rate at the lease commencement
sewa karena tingkat bunga implisit dalam date because the interest rate implicit in the
sewa tidak dapat segera ditentukan. Setelah lease is not readily determinable. After the
tanggal permulaan, jumlah liabilitas sewa commencement date, the amount of lease
ditingkatkan untuk mencerminkan liabilities is increased to reflect the accretion of
penambahan bunga dan dikurangi untuk interest and reduced for the lease payments
pembayaran sewa yang dilakukan. Selain itu, made. In addition, the carrying amount of
nilai tercatat liabilitas sewa diukur kembali jika lease liabilities is remeasured if there is a
ada modifikasi, perubahan jangka waktu sewa, modification, a change in the lease term, a
perubahan pembayaran sewa (misalnya, change in the lease payments (e.g., changes
perubahan pembayaran masa depan akibat to future payments resulting from a change in
perubahan indeks atau kurs yang digunakan an index or rate used to determine such lease
untuk pembayaran sewa) atau perubahan payments) or a change in the assessment of
penilaian opsi untuk membeli aset yang an option to purchase the underlying asset.
mendasarinya.
Sewa jangka-pendek dan sewa aset bernilai- Short-term leases and leases of low-value
rendah assets.
Grup memilih untuk tidak mengakui aset hak- The Group has elected not to recognize right-
guna dan liabilitas sewa untuk sewa jangka- of-use assets and lease liabilities for short-
pendek yang memiliki masa sewa 12 bulan term leases that have a lease term of 12
atau kurang dan sewa atas aset bernilai- months or less and leases of low-value assets.
rendah. Grup mengakui pembayaran sewa The Group recognizes the lease payments
terkait dengan sewa ini sebagai beban dengan associated with these leases as expense on a
dasar garis lurus selama masa sewa. straight-line basis over the lease term.
Sewa pada operasi bersama Lease in joint operations
Pada saat Grup, dalam kapasitasnya sebagai When the Group, in its capacity as operator,
operator, menandatangani perjanjian sewa has entered into a lease contract on behalf of
atas nama mitra operasi bersama, liabilitas a joint operation partner, as lease liability is
sewa diakui pada jumlah di mana Grup recognized to the extent that the Group has
memiliki tanggung jawab utama atas liabilitas primary responsibility for the lease liability. A
sewa. Piutang sewa pembiayaan diakui jika finance sub-lease is recognized if the related
aset hak guna terkait tersebut disubsewa right-of-use assets is subleased to the joint
kepada mitra operasi bersama. Ini terutama operation partner. This is usually the case
pada saat mitra operasi bersama memiliki hak when the joint operation partner has the right
untuk mengendalikan penggunaan aset to direct the use of the assets. Judgement is
tersebut. Pertimbangan dibutuhkan untuk required to determine the entity rights and
menentukan hak dan kewajiban entitas atas obligations for lease contracts within joint
kontrak sewa dengan operasi bersama. Hal ini operations. This includes the evaluation of
termasuk evaluasi atas apakah perjanjian whether the lease arrangement contains a
sewa dalam operasi bersama tersebut sublease within the joint operation.
mengandung subsewa.
39
Page 208
2025 Management Business Company Corporate
206 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
k. Sewa (lanjutan) k. Leases (continued)
Grup sebagai Pesewa The Group as Lessor
Metode untuk mengalokasikan penerimaan The method for allocating gross earnings to
kotor ke periode akuntansi disebut sebagai accounting periods is referred to as the
“metode aktuarial”. Metode aktuarial “actuarial method”. The actuarial method
mengalokasikan sewa antara pendapatan allocates rentals between finance income and
keuangan dan pembayaran kembali dari repayment of capital in each accounting period
modal di setiap periode akuntansi di mana in such a way that finance income will emerge
pendapatan keuangan akan muncul sebagai as a constant rate of return on the lessors net
tingkat imbal balik tetap pada investasi bersih investment in the lease.
penyewa di dalam suatu sewa.
Pendapatan dari penyerahan tenaga listrik Revenue from delivery of electric power to the
kepada pelanggan sejauh komponen investasi customer to the extent of the investment
dari transaksi pendapatan diperhitungkan component of the revenue transaction is
sebagai transaksi sewa pembiayaan dimana accounted for as finance lease transaction
Grup adalah pesewa. whereby the Group are the lessors.
l. Aset Keuangan Konsesi l. Concession Financial Assets
PT Medco Ratch Power Riau (“MRPR”), PT PT Medco Ratch Power Riau (“MRPR”), PT
Medco Cahaya Geothermal (“MCG”) dan PT Medco Cahaya Geothermal (“MCG”) and PT
Medcosolar Bali Timur (“MSBT”) menerapkan Medcosolar Bali Timur (“MSBT”) apply ISAK
ISAK No. 112, "Perjanjian Konsesi Jasa". ISAK No. 112, “Service Concession Arrangements”.
No. 112 menetapkan kriteria pengendalian ISAK No. 112 sets out the control criteria for
untuk perjanjian konsesi: concession arrangements:
• Pemberi konsesi mengendalikan atau • The grantor controls or regulates the
meregulasi jasa apa yang harus services that the operator must provide
diberikan oleh operator dengan using the infrastructure, to whom it must
infrastruktur, kepada siapa jasa harus provide them, and at what price, and
diberikan dan berapa harganya, dan
• Pemberi konsesi mengendalikan atas • The grantor controls any significant
setiap kepentingan residu signifikan residual interest in the infrastructure at
dalam infrastruktur pada akhir masa the end of the concession term through
perjanjian melalui kepemilikan, hak ownership, beneficial entitlement or
manfaat, atau bentuk lain. otherwise.
Ciri umum adalah: The common features are:
• Pihak yang memberikan perjanjian jasa • The party granting the service
(pemberi konsesi) merupakan entitas arrangement (the grantor) is a public
sektor publik, termasuk badan sector entity, including a governmental
pemerintah, atau entitas sektor swasta body, or a private sector entity to which
yang telah diberikan tanggung jawab atas the responsibility for the service has
jasa tersebut. been devolved.
• Operator bertanggung jawab setidaknya • The operator is responsible for at least
untuk sebagian pengelolaan infrastruktur some of the management of the
dan jasa terkait dan tidak hanya infrastructure and related services and
bertindak sebagai agen untuk does not merely act as an agent on
kepentingan pemberi konsesi. behalf of the grantor.
40
Page 209
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 207
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Aset Keuangan Konsesi (lanjutan) l. Concession Financial Assets (continued)
Ciri umum adalah: (lanjutan) The common features are: (continued)
• Kontrak menerapkan harga awal yang • The contract sets the initial prices to be
akan dikenakan oleh operator dan levied by the operator and regulates price
mengatur perubahan harga selama revisions over the period of the service
periode perjanjian jasa. arrangement.
• Operator diwajibkan untuk menyerahkan • The operator is obliged to hand over the
infrastruktur kepada pemberi konsesi infrastructure to the grantor in a specified
pada akhir periode perjanjian dalam condition at the end of the period of
kondisi yang telah ditentukan, dengan arrangement, for little or no incremental
sedikit atau tanpa imbalan tambahan, consideration, irrespective of which party
terlepas dari pihak yang awalnya initially financed it.
membiayai infrastruktur.
Karena Perjanjian Jual Beli Tenaga Listrik Since the Power Purchase Agreement (“PPA”)
(“PJBTL”) oleh MRPR, MCG dan MSBT entered by MRPR, MCG and MSBT have
mempunyai ciri umum perjanjian jasa dan common features of a concession
infrastruktur yang timbul dari kontrak tersebut arrangement and the infrastructure arising
dikendalikan oleh pemberi konsesi, kontrak from those contracts is controlled by the
tersebut dianggap sebagai perjanjian konsesi grantor, those contracts are considered
jasa. PJBTL memberikan jaminan ambil atau service concession arrangements. The PPA
bayar yang berarti bahwa operator memiliki provides take or pay guarantees which means
hak tak bersyarat untuk menerima kas atau the operator has an unconditional right to
aset keuangan lainnya dari pemberi konsesi. receive cash or another financial asset from
Oleh karena itu, MRPR, MCG, dan MSBT the grantor. As such, MRPR, MCG, and
menerapkan model aset keuangan untuk MSBT applied the financial asset model for its
perjanjian konsesi jasanya. service concession arrangement.
m. Aset Minyak dan Gas Bumi m. Oil and Gas Properties
Aset minyak dan gas bumi disajikan sebagai Oil and gas properties are stated at cost, less
biaya perolehan, dikurangi akumulasi deplesi/ accumulated depletion/depreciation and
depresiasi dan akumulasi kerugian penurunan accumulated impairment losses.
nilai.
Biaya awal aset terdiri dari harga beli atau The initial cost of an asset comprises its
biaya konstruksi (jika sebelumnya aset purchase price or construction cost (if the
diklasifikasikan sebagai aset dalam asset was previously classified as assets in
pengembangan), biaya-biaya yang terkait development), any costs directly attributable to
untuk mengoperasikan aset, estimasi awal bringing the asset into operation, the initial
kewajiban penghentian aset dan, untuk aset estimate of the decommissioning obligation
yang memenuhi (yang relevan), biaya and, for qualifying assets (where relevant),
pinjaman. Harga beli atau biaya konstruksi borrowing costs. The purchase price or
adalah jumlah keseluruhan yang dibayarkan construction cost is the aggregate amount paid
dan nilai wajar atau pertimbangan lain and the fair value of any other consideration
terhadap aset yang diperoleh. given to acquire the asset.
Biaya pengeboran sumur pengembangan dan The costs of drilling of development wells and
sumur tes stratigrafi tahap pengembangan, development-type stratigraphic test wells,
platform, perlengkapan sumur dan fasilitas platforms, well equipment and related
produksi terkait, dikapitalisasi sebagai aset production facilities, are capitalized as
sumur, perlengkapan dan fasilitas dalam uncompleted wells, equipment and facilities.
pengerjaan. Biaya tersebut dipindahkan ke Such costs are transferred to wells and related
aset sumur, perlengkapan dan fasilitas terkait equipment and facilities upon completion.
pada saat pengeboran atau konstruksi selesai.
41
Page 210
2025 Management Business Company Corporate
208 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
m. Aset Minyak dan Gas Bumi (lanjutan) m. Oil and Gas Properties (continued)
Penyusutan, deplesi dan amortisasi atas aset Depreciation, depletion and amortization of oil
minyak dan gas bumi, kecuali untuk aset and gas properties, except uncompleted wells,
sumur, perlengkapan dan fasilitas dalam equipment and facilities, are calculated based
pengerjaan, dihitung dengan menggunakan on the unit-of-production method, using the
metode satuan unit produksi, dengan gross production divided by gross proved and
menggunakan produksi kotor yang dibagi developed reserves for wells and divided by
dengan cadangan kotor yang terbukti dan gross proved and developed and gross proved
telah dikembangkan untuk aset sumur dan and undeveloped reserves for facilities.
dibagi dengan cadangan kotor yang terbukti Depreciation for support asset facilities and
dan telah dikembangkan dan terbukti dan equipment is calculated using straight-line
belum dikembangkan untuk aset fasilitas. method over 4 to 20 years.
Penyusutan atas fasilitas pendukung dan
peralatan dihitung dengan menggunakan
metode garis lurus selama 4 sampai dengan
20 tahun.
Entitas anak yang bergerak di bidang The subsidiaries engaged in exploration and
eksplorasi dan produksi minyak dan gas bumi production of oil and gas have no legal
tidak mempunyai kepemilikan secara hukum ownership in the producing assets and oil and
atas aset produksi maupun atas cadangan gas reserves, but rather have the right to
minyak dan gas bumi, tetapi mempunyai hak operate the assets and receive a share of
untuk mengoperasikan aset tersebut dan production and/or revenues from the sale of oil
menerima bagian dari produksi dan/atau and gas in accordance with the respective
pendapatan dari penjualan minyak dan gas contracts.
bumi sesuai dengan kontrak yang berlaku.
n. Aset Eksplorasi dan Evaluasi n. Exploration and Evaluation Assets
Beban eksplorasi dan evaluasi termasuk biaya Exploration and evaluation expenditures
geologi dan geofisika, biaya pengeboran including geological and geophysical costs,
sumur eksplorasi termasuk biaya pengeboran costs of drilling exploratory wells, including the
sumur tes stratigrafi tahap eksplorasi, dan costs of drilling exploratory-type stratigraphic
biaya lainnya yang terkait untuk mengevaluasi test wells, and other costs in relation to
kelayakan teknis dan komersialitas dari evaluating the technical feasibility and
minyak dan gas yang diekstraksi dikapitalisasi commercial viability of extracting oil and gas
dan disajikan terpisah sebagai Aset Eksplorasi are capitalized and presented separately as
dan Evaluasi di laporan posisi keuangan Exploration and Evaluation Assets in the
konsolidasian. consolidated statements of financial position.
Jika tidak ditemukan potensi cadangan yang If no potentially commercial hydrocarbons are
secara ekonomis dapat diperoleh, aset discovered, the exploration asset is written off
eksplorasi dan evaluasi dihapus melalui laba through profit or loss as a dry hole. If
rugi sebagai sumur kering. Jika cadangan extractable hydrocarbons are found and
terbukti ditemukan dan layak dikembangkan subject to further appraisal activity, it is
tergantung pada aktivitas penilaian lebih lanjut, probable that they can be commercially
pengeluaran disajikan sebagai aset eksplorasi developed, the costs continue to be carried as
dan evaluasi pada saat kegiatan mengevaluasi an exploration and evaluation asset while
kelayakan tersebut sedang berlangsung. progress is made in assessing the
commerciality of the hydrocarbons.
42
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 209
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Aset Eksplorasi dan Evaluasi (lanjutan) n. Exploration and Evaluation Assets
(continued)
Pemulihan aset eksplorasi dan evaluasi The recoverability of exploration and
tergantung pada keberhasilan pengembangan evaluation assets depends on the successful
dan eksploitasi komersial daerah development and commercial exploitation in
pengembangan (area of interest) tersebut. such area (area of interest). Exploration and
Aset eksplorasi dan evaluasi diuji untuk evaluation assets are tested for impairment if
penurunan nilai bila fakta dan kondisi certain facts and circumstances indicate that
mengindikasikan bahwa jumlah tercatatnya the carrying amount of the assets may exceed
mungkin melebihi jumlah terpulihkannya. the recoverable value. In such conditions, the
Dalam keadaan tersebut, maka entitas harus entity must measure, present and disclose the
mengukur, menyajikan dan mengungkapkan impairment loss as required under PSAK 236.
rugi penurunan nilai terkait sesuai dengan
PSAK 236.
Aset eksplorasi dan evaluasi ditransfer ke The exploration and evaluation assets are
“Aset minyak dan gas bumi” pada akun “Aset transferred to “Oil and gas properties” in the
minyak dan gas bumi” setelah ditetapkan “Oil and gas properties” account after the well
bahwa sumur memiliki nilai ekonomis untuk area is determined to have commercial
dikembangkan. reserves for further development.
o. Saham Treasuri o. Treasury Stock
Perolehan kembali modal saham sebagai Reacquisition of capital stock to be held as
saham treasuri yang akan diterbitkan kembali treasury stock for future reissuance is
di masa yang akan datang dicatat dengan recorded by using par value method. Under
menggunakan metode nilai nominal. this method, the par value of treasury stock is
Berdasarkan metode ini, nilai nominal saham presented as a reduction from the capital stock
treasuri disajikan sebagai pengurang akun account. If the treasury stock had been
modal saham. Apabila saham treasuri tersebut originally issued at a price above par value,
semula diterbitkan dengan harga di atas nilai the related additional paid-in capital account is
nominal, akun tambahan modal disetor terkait adjusted. Any excess of the reacquisition cost
akan disesuaikan. Selisih lebih harga over the original issuance price is adjusted to
perolehan kembali atas harga penerbitan awal retained earnings.
disesuaikan ke saldo laba.
p. Biaya Emisi Efek Ekuitas p. Stock Issuance Cost
Biaya emisi efek ekuitas disajikan sebagai Stock issuance costs are presented as
pengurang “Tambahan Modal Disetor” sebagai deduction from “Additional Paid-in Capital” in
bagian dari ekuitas pada laporan posisi the equity section in the consolidated
keuangan konsolidasian. statements of financial position.
q. Program Pensiun dan Imbalan Kerja q. Pension and Other Employment Benefits
Lainnya
Grup menyelenggarakan program pensiun dan The Group provided the following pension and
imbalan kerja lainnya berikut untuk karyawan other employment benefits for permanent
tetap dan/atau karyawan tertentu: employees and/or specific employees:
• Program pensiun iuran pasti pada • Defined contribution pension plan for
Perusahaan dan entitas anak yang employees of the Company and
bergerak di bidang minyak dan gas bumi; subsidiaries in oil and gas operations;
• Program pensiun imbalan pasti pada • Defined benefit pension plan for employees
entitas anak yang bergerak di bidang of subsidiaries in oil and gas operations;
minyak dan gas bumi;
43
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2025 Management Business Company Corporate
210 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Program Pensiun dan Imbalan Kerja q. Pension and Other Employment Benefits
Lainnya (lanjutan) (continued)
Grup menyelenggarakan program pensiun dan The Group provided the following pension and
imbalan kerja lainnya berikut untuk karyawan other employment benefits for permanent
tetap dan/atau karyawan tertentu: (lanjutan) employees and/or specific employees:
(continued)
• Imbalan pasca-kerja sesuai dengan • Post-employment benefits in accordance
Undang-Undang Tenaga Kerja; dan with the requirements of Labor Law; and
• Penghargaan Jubilee setelah beberapa • Jubilee awards upon completion of a
tahun masa kerja. certain number of years of services.
Grup juga menyediakan imbalan pasca-kerja In addition, the Group also provided the post-
untuk personil manajemen utama sesuai employment benefits for its key management
dengan kebijakan Grup. personnel in accordance with the Group policy.
Program Imbalan Pasti Defined Benefit Program
Beban atas pemberian imbalan dalam The cost of providing benefits under the
program imbalan manfaat pasti ditentukan defined benefits plan is determined using the
dengan metode Projected Unit Credit dengan Projected Unit Credit method with actuarial
penilaian aktuaria yang dilakukan pada setiap valuations being carried out at the end of each
akhir periode pelaporan tahunan. annual reporting period.
Grup mengakui perubahan atas liabilitas The Group recognizes the following changes
imbalan pasti neto berikut pada biaya produksi in the net defined benefit obligation under
dan lifting dan beban penjualan, umum dan production and lifting cost and selling, general
administrasi pada laporan laba rugi dan and administrative expenses in the
penghasilan komprehensif lain konsolidasian: consolidated statements of profit or loss and
other comprehensive income:
• Biaya jasa yang terdiri dari biaya jasa kini, • Service costs comprise current service
biaya jasa lalu dan keuntungan dan costs, past-service costs and gains and
kerugian atas kurtailmen. losses on curtailments.
• Beban atau pendapatan bunga neto. • Net interest expense or income.
Kurtailmen terjadi apabila Grup mengurangi A curtailment occurs when the Group either
secara signifikan jumlah pekerja yang significantly reduce the number of employees
ditanggung oleh program, terminasi atau covered by a plan, termination or suspension
penghentian program. of the program.
Program Pensiun Iuran Pasti Defined Contribution Program
Biaya atas program pensiun iuran pasti The costs of the defined contribution plans are
tersebut diakui pada saat terjadinya. recognized when incurred.
Imbalan Jangka Panjang Lainnya Other Long-Term Benefits
Beban imbalan jangka panjang lainnya The cost of providing other long-term
ditentukan dengan metode Projected Unit employee benefits is determined using the
Credit dengan metode yang disederhanakan di Projected Unit Credit method using simplified
mana metode ini tidak mengakui pengukuran method of not recognizing remeasurements in
kembali dalam penghasilan komprehensif lain. other comprehensive income. The net total of
Total nilai neto dari biaya jasa kini, biaya service cost, net interest on the net defined
bunga neto atas liabilitas (aset) imbalan pasti benefit liability (asset) and remeasurements of
neto dan pengukuran kembali liabilitas (aset) the net defined benefit liability (asset) is
imbalan pasti neto diakui pada laba rugi. recognized in profit or loss.
44
Page 213
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 211
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
r. Liabilitas Pembongkaran Aset Restorasi r. Asset Abandonment and Site Restoration
Area Obligations
Grup mengakui liabilitas pembongkaran dan The Group recognizes its obligations for future
pemindahan aset, dan restorasi area atas dismantlement and transfer of assets, and site
fasilitas produksi minyak dan gas bumi, sumur, restoration of oil and gas production facilities,
pipa dan aset-aset yang terkait sesuai dengan wells, pipelines and related assets in
persyaratan dalam kontrak bagi hasil atau accordance with the provisions in the
sesuai dengan peraturan yang berlaku. production sharing contracts or in line with
applicable regulations.
Estimasi awal biaya pembongkaran dan The initial estimated costs for dismantlement
pemindahan aset minyak dan gas bumi dan and site restoration of oil and gas properties
restorasi area diakui sebagai komponen biaya are recognized as part of the acquisition costs
perolehan aset, yang kemudian disusutkan/ of the assets, and are subsequently
dideplesikan dengan menggunakan metode depreciated/depleted using the unit-of-
satuan unit produksi yang sejalan dengan tarif production method in line with the selected
deplesi aset yang dipilih. assets depletion rate.
Dalam banyak kasus, aktivitas pembongkaran In most instances, the dismantlement and
dan pemindahan aset, dan restorasi area transfer of assets, and site restoration
fasilitas produksi minyak dan gas, sumur, pipa activities of oil and gas production facilities,
saluran dan aset terkait terjadi pada beberapa wells, pipelines and related assets will occur
tahun di masa yang akan datang. Provisi atas several years in the future. The provision for
liabilitas pembongkaran dan pemindahan aset, future dismantlement and transfer of assets,
dan restorasi area di masa yang akan datang and site restoration obligations is the best
adalah berupa estimasi terbaik pada tanggal estimate of the present value of the future
pelaporan keuangan atas nilai kini dari expenditures required to undertake the
pengeluaran di masa yang akan datang untuk dismantlement and transfer of assets, and site
melaksanakan liabilitas pembongkaran dan restoration obligations at the reporting date,
pemindahan aset, dan restorasi area tersebut, based on current legal requirements.
sesuai dengan ketentuan hukum yang berlaku
pada tanggal pelaporan.
Estimasi tersebut ditelaah setiap tahun dan Such estimates are reviewed on an annual
disesuaikan bila diperlukan. Penyesuaian atas basis and adjusted each year as required.
nilai kini dari liabilitas pembongkaran dan Adjustments to the present value of the
pemindahan aset, dan restorasi area dismantlement and transfer of assets, and site
dibukukan sebagai penyesuaian atas nilai restoration obligations are recorded as
tercatat aset yang bersangkutan dengan adjustment to the carrying amount of the
jumlah yang sama. Jika penurunan liabilitas associated asset in the same amount. If a
melebihi nilai tercatat aset, maka kelebihan decrease in the liability exceeds the carrying
tersebut diakui segera dalam laba rugi. amount of the asset, the excess shall be
recognised immediately in profit or loss.
Pembalikan dari efek diskonto dalam The unwinding of the effect of discounting the
penghitungan provisi diakui sebagai beban provision is recognized as a finance cost.
pendanaan.
Pengeluaran yang terkait dengan pemulihan, The costs related to restoration, rehabilitation
rehabilitasi dan lingkungan hidup yang terjadi and living environment which occurred in the
pada tahap produksi dibebankan sebagai production phase are expensed as part of
bagian dari biaya produksi. production cost.
45
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2025 Management Business Company Corporate
212 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan s. Financial Instruments
Instrumen keuangan adalah setiap kontrak A financial instrument is any contract that
yang memberikan aset keuangan bagi satu gives rise to a financial asset of one entity and
entitas dan liabilitas keuangan atau ekuitas a financial liability or equity instrument of
bagi entitas lain. another entity.
i. Aset Keuangan i. Financial Assets
Pengakuan dan Pengukuran Awal Initial Recognition and Measurement
Aset keuangan diklasifikasikan, pada Financial assets are classified, at initial
saat pengakuan awal, yang selanjutnya recognition, as subsequently measured
diukur pada biaya perolehan at amortized cost, fair value through other
diamortisasi, nilai wajar melalui comprehensive income (OCI), and fair
penghasilan komprehensif lain (OCI) dan value through profit or loss.
nilai wajar melalui laba rugi.
Klasifikasi aset keuangan pada The classification of financial assets at
pengakuan awal tergantung pada initial recognition depends on the
karakteristik arus kas kontraktual aset financial asset’s contractual cash flow
keuangan dan model bisnis Grup untuk characteristics and the Group’s business
mengelolanya. Dengan pengecualian model for managing them. With the
piutang usaha yang tidak mengandung exception of trade receivables that do not
komponen pembiayaan yang signifikan contain a significant financing component
atau yang mana Grup telah menerapkan or for which the Group has applied the
panduan praktisnya, Grup pada awalnya practical expedient, the Group initially
mengukur aset keuangan pada nilai measures a financial asset at its fair
wajarnya ditambah, dalam hal aset value plus, in the case of a financial asset
keuangan tidak diukur pada nilai wajar not at fair value through profit or loss,
melalui laba rugi, biaya transaksi. Piutang transaction costs. Trade receivables that
usaha yang tidak mengandung do not contain a significant financing
komponen pembiayaan yang signifikan component or for which the Group has
atau yang mana Grup telah menerapkan applied the practical expedient are
panduan praktis diukur pada harga measured at the transaction price
transaksi yang ditentukan berdasarkan determined under PSAK 115.
PSAK 115.
46
Page 215
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 213
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Pengakuan dan Pengukuran Awal Initial Recognition and Measurement
(lanjutan) (continued)
Selisih antara harga transaksi dan nilai The difference between the transaction
wajar aset keuangan pada pengakuan price and fair value of financial assets
awal ditangguhkan bila nilai wajarnya upon initial recognition is deferred, if the
diestimasi menggunakan input yang tidak fair value is estimated using
dapat diobservasi. Bila, selain waktu, unobservable inputs. The deferred loss is
tidak terdapat faktor lain yang amortized using the straight-line method
diidentifikasi oleh pelaku pasar dalam if, other than time, there are no factors
pertimbangan untuk menentukan harga identified that market participants would
aset keuangan tersebut, kerugian yang take into account when pricing the
ditangguhkan tersebut diamortisasi financial asset. Any outstanding amount
dengan menggunakan metode garis is immediately recognized in profit or loss
lurus. Setiap jumlah yang masih tersisa when the financial asset is derecognized
segera diakui dalam laba rugi pada saat or when the inputs becomes observable.
aset keuangan tersebut dihentikan
pengakuannya atau ketika input tersebut
menjadi dapat diobservasi.
Agar aset keuangan dapat In order for a financial asset to be
diklasifikasikan dan diukur pada biaya classified and measured at amortized
perolehan diamortisasi atau nilai wajar cost or fair value through OCI, it needs to
melalui OCI, aset keuangan tersebut give rise to cash flows that are ‘solely
perlu menghasilkan arus kas yang payments of principal and interest
‘semata dari pembayaran pokok dan (“SPPI”)’ on the principal amount
bunga (“SPPI”)’ dari jumlah pokok outstanding. This assessment is referred
terutang. Penilaian ini disebut sebagai to as the SPPI test and is performed at
pengujian SPPI dan dilakukan pada an instrument level. Financial assets with
tingkat instrumen. Aset keuangan dengan cash flows that are not SPPI are
arus kas yang bukan SPPI classified and measured at fair value
diklasifikasikan dan diukur pada nilai through profit or loss, irrespective of the
wajar melalui laba rugi, terlepas dari business model.
model bisnisnya.
Pembelian atau penjualan aset keuangan Purchases or sales of financial assets
yang mensyaratkan penyerahan aset that require delivery of assets within a
dalam kurun waktu yang ditetapkan oleh time frame established by regulation or
peraturan atau kebiasaan yang berlaku di convention in the marketplace (regular
pasar (pembelian yang lazim/regular) way trades) are recognized on the trade
diakui pada tanggal perdagangan, yaitu date, i.e., the date that the Group
tanggal Grup berkomitmen untuk commits to purchase or sell the assets.
membeli atau menjual aset tersebut.
47
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2025 Management Business Company Corporate
214 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Pengukuran Setelah Pengakuan Awal Subsequent Measurement
Aset keuangan Grup diklasifikasikan The Group’s financial assets are
sebagai berikut: classified as follows:
PSAK 109
Kas dan setara kas Aset keuangan yang diukur pada biaya Cash and cash equivalents
perolehan diamortisasi/
Financial assets measured at amortized cost
Deposito dan rekening bank Aset keuangan yang diukur pada biaya Restricted time deposits and
yang dibatasi penggunaannya perolehan diamortisasi/ cash in banks
Financial assets measured at amortized cost
Piutang usaha dan lain-lain Aset keuangan yang diukur pada biaya Trade and other receivables
perolehan diamortisasi/
Financial assets measured at amortized cost
Asset keuangan konsesi Aset keuangan yang diukur pada biaya Concession financial assets
perolehan diamortisasi/
Financial assets measured at amortized cost
Piutang sewa pembiayaan Aset keuangan yang diukur pada biaya Finance lease receivables
perolehan diamortisasi/
Financial assets measured at amortized cost
Uang jaminan Aset keuangan yang diukur pada biaya Security deposits
perolehan diamortisasi/
Financial assets measured at amortized cost
Investasi jangka pendek Aset keuangan yang diukur pada nilai wajar Short-term investments
melalui laba rugi/
Financial assets measured at fair value through
profit or loss
Investasi jangka panjang Aset keuangan yang diukur pada nilai wajar Long-term investments (FVTPL)
(FVTPL) melalui laba rugi/
Financial assets measured at fair value through
profit or loss
Investasi jangka panjang Aset keuangan yang diukur pada nilai wajar Long-term investments
(FVTOCI) melalui penghasilan komprehensif lain/ (FVTOCI)_
Financial assets at fair value through OCI
Investasi pada instrumen utang Aset keuangan yang diukur pada biaya Investment in debt instruments
perolehan diamortisasi/
Financial assets measured at amortized cost
Aset derivatif Aset keuangan yang diukur pada nilai wajar Derivative assets
melalui laba rugi/
Financial assets measured at fair value through
profit or loss
48
Page 217
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 215
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Pengukuran Setelah Pengakuan Awal Subsequent Measurement
Untuk tujuan pengukuran selanjutnya, For purposes of subsequent
aset keuangan diklasifikasikan dalam measurement, financial assets are
empat kategori: classified in four categories:
• Aset keuangan pada biaya perolehan • Financial assets at amortized cost
diamortisasi (instrumen utang); (debt instruments);
• Aset keuangan pada nilai wajar • Financial assets at fair value through
melalui OCI tanpa pendauran laba OCI with no recycling of cumulative
rugi kumulatif setelah penghentian gain or losses upon derecognition
pengakuan (instrumen ekuitas); (equity instrument);
• Aset keuangan pada nilai wajar • Financial assets at fair value through
melalui OCI dengan pendauran laba OCI with recycling of cumulative
rugi kumulatif (instrumen utang); gains and losses (debt instruments);
• Aset keuangan pada nilai wajar • Financial assets at fair value through
melalui laba rugi profit or loss
Aset keuangan pada biaya perolehan Financial assets at amortized cost
diamortisasi (instrumen utang) (debt instruments)
Aset keuangan pada biaya perolehan Financial assets at amortized cost are
diamortisasi selanjutnya diukur dengan subsequently measured using the
menggunakan metode suku bunga efektif effective interest rate (“EIR”) method and
(“SBE”) dan diuji penurunan nilainya. are subject to impairment. Gains and
Keuntungan dan kerugian diakui dalam losses are recognized in profit or loss
laba rugi pada saat aset keuangan when the financial asset is derecognized,
dihentikan pengakuannya, dimodifikasi modified or impaired.
atau mengalami penurunan nilai.
Aset keuangan yang ditetapkan pada Financial assets designated at fair
nilai wajar melalui OCI (instrumen value through OCI (equity
ekuitas) (FVTOCI) instruments) (FVTOCI)
Setelah pengakuan awal, Grup dapat Upon initial recognition, the Group can
membuat pilihan yang tidak dapat elect to classify irrevocably its equity
dibatalkan untuk mengklasifikasikan investments as equity instruments
investasi ekuitasnya sebagai instrumen designated at fair value through OCI
ekuitas yang ditetapkan pada nilai wajar when they meet the definition of equity
melalui OCI jika definisi ekuitas under PSAK 232: Financial Instruments:
berdasarkan PSAK 232: Instrumen Presentation, and are not held for trading.
Keuangan: Penyajian, dipenuhi dan tidak The classification is determined on an
dimiliki untuk diperdagangkan. Klasifikasi instrument-by-instrument basis.
ditentukan berdasarkan instrumen per
instrumen.
49
Page 218
2025 Management Business Company Corporate
216 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Pengukuran Setelah Pengakuan Awal Subsequent Measurement (continued)
(lanjutan)
Aset keuangan yang ditetapkan pada Financial assets designated at fair
nilai wajar melalui OCI (instrumen value through OCI (equity
ekuitas) (FVTOCI) (lanjutan) instruments) (FVTOCI) (continued)
Keuntungan dan kerugian dari aset Gains and losses on these financial
keuangan ini tidak pernah didaur ulang assets are never recycled to profit or
ke laba rugi. Dividen diakui sebagai loss. Dividends are recognized as other
pendapatan lain-lain dalam laporan laba income in the statement of profit or loss
rugi pada saat hak pembayaran telah when the right of payment has been
ditetapkan, kecuali jika Grup established, except when the Group
mendapatkan manfaat dari hasil tersebut benefits from such proceeds as a
sebagai pemulihan sebagian biaya recovery of part of the cost of the
perolehan aset keuangan, dalam hal ini, financial asset, in which case, such gains
keuntungan tersebut akan dicatat di OCI. are recorded in OCI. Equity instruments
Instrumen ekuitas yang ditetapkan pada designated at fair value through OCI are
nilai wajar melalui OCI tidak tunduk pada not subject to impairment assessment.
evaluasi penurunan nilai.
Grup membuat pilihan yang tidak dapat The Group elected to classify irrevocably
dibatalkan untuk mengklasifikasikan its non-listed equity investments under
investasi ekuitas yang tidak this category.
diperdagangkan tertentu dalam kategori
ini.
Aset keuangan pada nilai wajar Financial assets at fair value through
melalui laba rugi (FVTPL) profit or loss (FVTPL)
Aset keuangan pada nilai wajar melalui Financial assets at fair value through
laba rugi termasuk aset keuangan yang profit or loss include financial assets held
dimiliki untuk diperdagangkan, aset for trading, financial assets designated
keuangan yang ditetapkan pada upon initial recognition at fair value
pengakuan awal pada nilai wajar melalui through profit or loss, or financial assets
laba rugi, atau aset keuangan yang wajib mandatorily required to be measured at
diukur pada nilai wajar. Aset keuangan fair value. Financial assets are classified
diklasifikasikan sebagai kelompok as held for trading if they are acquired for
diperdagangkan jika mereka diperoleh the purpose of selling or repurchasing in
untuk tujuan dijual atau dibeli kembali the near term. Derivatives, including
dalam waktu dekat. Derivatif, termasuk separated embedded derivatives, are
derivatif melekat yang dipisahkan, juga also classified as held for trading unless
diklasifikasikan sebagai dimiliki untuk they are designated as effective hedging
diperdagangkan kecuali jika ditetapkan instruments.
sebagai instrumen lindung nilai yang
efektif.
Aset keuangan yang diukur pada nilai Financial assets at fair value through
wajar melalui laba rugi dicatat dalam profit or loss are carried in the
laporan posisi keuangan konsolidasian consolidated statement of financial
pada nilai wajar dengan perubahan nilai position at fair value with net changes in
wajar neto diakui dalam laporan laba rugi fair value recognized in profit or loss.
dan penghasilan komprehensif lain
konsolidasian.
50
Page 219
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 217
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Pengukuran Setelah Pengakuan Awal Subsequent Measurement (continued)
(lanjutan)
Aset keuangan pada nilai wajar Financial assets at fair value through
melalui laba rugi (FVTPL) (lanjutan) profit or loss (FVTPL) (continued)
Kategori ini mencakup investasi jangka This category includes short-term
pendek dan investasi ekuitas yang tidak investments and non-listed equity
diperdagangkan di mana Grup tidak investments which the Group had not
membuat pilihan yang tidak dapat irrevocably elected to classify at fair value
dibatalkan untuk diklasifikasikan pada through OCI. Dividends on listed equity
nilai wajar melalui OCI. Dividen atas investments are also recognized as other
investasi ekuitas Perusahaan tercatat income in the profit or loss when the right
juga diakui sebagai pendapatan lain-lain of payment has been established.
dalam laba rugi pada saat hak
pembayaran telah ditetapkan.
Derivatif yang melekat dalam kontrak A derivative embedded in a hybrid
hibrida, dengan liabilitas keuangan atau contract, with a financial liability or non-
kontrak utama non-keuangan, dipisahkan financial host, is separated from the host
dari host dan dicatat sebagai derivatif and accounted for as a separate
terpisah jika: karakteristik dan risiko derivative if: the economic characteristics
ekonomi tidak terkait erat dengan kontrak and risks are not closely related to the
utama; instrumen terpisah dengan host; a separate instrument with the
persyaratan yang sama seperti derivatif same terms as the embedded derivative
melekat akan memenuhi definisi derivatif; would meet the definition of a derivative;
dan kontrak hibrida tidak diukur pada nilai and the hybrid contract is not measured
wajar melalui laba rugi. at fair value through profit or loss.
Derivatif melekat diukur pada nilai wajar Embedded derivatives are measured at
dengan perubahan nilai wajar diakui fair value with changes in fair value
dalam laba rugi. Penilaian ulang hanya recognized in profit or loss.
terjadi jika terdapat perubahan dalam Reassessment only occurs if there is
persyaratan kontrak yang secara either a change in the terms of the
signifikan mengubah arus kas yang contract that significantly modifies the
seharusnya diperlukan atau reklasifikasi cash flows that would otherwise be
aset keuangan keluar dari kategori nilai required or a reclassification of a financial
wajar melalui laba rugi. asset out of the fair value through profit
or loss category.
51
Page 220
2025 Management Business Company Corporate
218 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Penghentian Pengakuan Derecognition
Penghentian pengakuan atas suatu aset A financial asset, or where applicable, a
keuangan, atau, bila dapat diterapkan part of a financial asset or part of a group
untuk bagian dari aset keuangan atau of similar financial assets, is
bagian dari kelompok aset keuangan derecognized when:
serupa, terjadi apabila:
i. Hak kontraktual atas arus kas yang i. The contractual rights to receive the
berasal dari aset keuangan tersebut cash flows from these assets have
berakhir atau aset telah dialihkan; ceased to exist or the assets have
been transferred;
ii. Grup telah mengalihkan hak untuk ii. The Group has transferred its rights
menerima arus kas yang berasal to receive cash flows from the asset
dari aset keuangan tersebut atau or has assumed an obligation to pay
menanggung kewajiban untuk the received cash flows in full
membayar arus kas yang diterima without material delay to a third
tersebut tanpa penundaan yang party under a “pass-through”
signifikan terhadap pihak ketiga arrangement, and either (a) the
melalui suatu kesepakatan Group has transferred substantially
penyerahan dan (a) Grup secara all the risk and rewards of the
substansial mengalihkan seluruh financial assets, or (b) the Group
risiko dan manfaat atas kepemilikan has neither transferred nor retained
aset keuangan tersebut, atau (b) substantially all the risk and rewards
Grup secara substansial tidak of the financial assets, but has
mengalihkan maupun tidak transferred control of the financial
mempertahankan seluruh risiko dan asset.
manfaat atas kepemilikan aset
keuangan tersebut, namun telah
mengalihkan pengendalian atas
aset keuangan tersebut.
Ketika Grup telah mengalihkan haknya When the Group has transferred its rights
untuk menerima arus kas dari aset atau to receive cash flows from an asset or
telah menandatangani perjanjian pass- has entered into a pass-through
through, Grup mengevaluasi apakah, dan arrangement, it evaluates if, and to what
sejauh mana, telah mempertahankan extent, it has retained the risks and
risiko dan manfaat kepemilikan. Ketika rewards of ownership. When it has
Grup tidak mengalihkan atau neither transferred nor retained
mempertahankan secara substansial substantially all of the risks and rewards
seluruh risiko dan manfaat dari aset, atau of the asset, nor transferred control of the
mengalihkan pengendalian atas aset, asset, the Group continues to recognize
Grup terus mengakui aset yang ditransfer the transferred asset to the extent of its
tersebut sejauh keterlibatannya secara continuing involvement. In that case, the
berkelanjutan. Dalam kasus tersebut, Group also recognize an associated
Grup juga mengakui liabilitas terkait. Aset liability. The transferred asset and the
alihan dan liabilitas terkait diukur atas associated liability are measured on a
dasar yang mencerminkan hak dan basis that reflects the rights and
kewajiban yang dimiliki Grup. obligations that the Group has retained.
52
Page 221
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 219
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Penghentian Pengakuan (lanjutan) Derecognition (continued)
Keterlibatan berkelanjutan yang Continuing involvement that takes the
berbentuk pemberian jaminan atas aset form of a guarantee over the transferred
alihan diukur sebesar jumlah yang lebih asset is measured at the lower of the
rendah antara jumlah tercatat aset alihan original carrying amount of the asset and
dan jumlah maksimal imbalan yang the maximum amount of consideration
mungkin harus dibayar kembali oleh received that the Group could be required
Grup. to repay.
Penurunan Nilai Impairment
Grup mengakui penyisihan untuk The Group recognizes an allowance for
kerugian kredit ekspektasian ("ECL") expected credit losses (“ECL”) for all debt
untuk seluruh instrumen utang yang tidak instruments not held at fair value through
dimiliki pada nilai wajar melalui laba rugi. profit or loss. ECL are based on the
ECL didasarkan pada selisih antara arus difference between the contractual cash
kas kontraktual yang jatuh tempo sesuai flows due in accordance with the contract
dengan kontrak dan seluruh arus kas and all the cash flows that the Group
yang diperkirakan akan diterima Grup, expects to receive, discounted at an
didiskontokan dengan SBE awal. Arus approximation of the original EIR. The
kas ekspektasian akan mencakup arus expected cash flows will include cash
kas dari penjualan agunan yang dimiliki flows from the sale of collateral held or
atau perbaikan risiko-kredit lain yang other credit enhancements that are
merupakan bagian dari persyaratan integral to the contractual terms.
kontraktual.
ECL diakui dalam dua tahap. Untuk ECLs are recognized in two stages. For
eksposur kredit yang belum ada credit exposures for which there has not
peningkatan risiko kredit yang signifikan been a significant increase in credit risk
sejak pengakuan awal, ECL dilakukan since initial recognition, ECL are provided
untuk kerugian kredit yang diakibatkan for credit losses that result from default
oleh peristiwa gagal bayar yang mungkin events that are possible within the next
terjadi dalam 12 bulan ke depan (ECL 12 12-months (a 12-month ECL). For those
bulan). Untuk eksposur kredit yang telah credit exposures for which there has
terjadi peningkatan risiko kredit yang been a significant increase in credit risk
signifikan sejak pengakuan awal, since initial recognition, a loss allowance
penyisihan kerugian dilakukan untuk is required for credit losses expected
kerugian kredit yang diperkirakan selama over the remaining life of the exposure,
sisa umur eksposur, terlepas dari waktu irrespective of the timing of the default (a
gagal bayar (ECL sepanjang umur). lifetime ECL).
Untuk piutang usaha dan aset keuangan For trade and other receivables and other
lainnya yang diukur pada biaya financial assets measured at amortized
perolehan diamortisasi, Grup costs, the Group applies a simplified
menerapkan pendekatan yang approach in calculating ECL. Therefore,
disederhanakan dalam menghitung ECL. the Group does not track changes in
Oleh karena itu, Grup tidak menelusuri credit risk, but instead recognizes a loss
perubahan dalam risiko kredit, tetapi allowance based on lifetime ECLs at
mengakui penyisihan kerugian each reporting date, adjusted for forward-
berdasarkan ECL sepanjang umur pada looking factors specific to the debtors and
setiap tanggal pelaporan, disesuaikan the economic environment.
dengan faktor-faktor perkiraan masa
depan yang spesifik bagi debitur dan
lingkungan ekonomi.
53
Page 222
2025 Management Business Company Corporate
220 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Penurunan Nilai (lanjutan) Impairment (continued)
Grup menganggap aset keuangan gagal The Group considers a financial asset in
bayar ketika pembayaran kontraktual default when contractual payments are
telah lewat 90 hari. Namun, dalam kasus 90 days past due. However, in certain
tertentu, Grup juga dapat cases, the Group may also consider a
mempertimbangkan aset keuangan financial asset to be in default when
mengalami gagal bayar ketika informasi internal or external information indicates
internal atau eksternal menunjukkan that the Group is unlikely to receive the
bahwa Grup tidak mungkin menerima outstanding contractual amounts in full
jumlah kontraktual yang terutang secara before taking into account any credit
penuh sebelum memperhitungkan setiap enhancements held by the Group. A
perbaikan risiko-kredit yang dimiliki oleh financial asset is written off when there is
Grup. Aset keuangan dihapuskan jika no reasonable expectation of recovering
tidak ada ekspektasi yang wajar untuk the contractual cash flows.
memulihkan arus kas kontraktual.
ii. Liabilitas Keuangan ii. Financial Liabilities
Pengakuan dan Pengukuran Awal Initial Recognition and Measurement
Liabilitas keuangan diklasifikasikan Financial liabilities are classified as
sebagai liabilitas keuangan yang diukur financial liabilities at fair value through
pada nilai wajar melalui laba rugi dan profit or loss and other financial liabilities.
liabilitas keuangan lainnya. Grup The Group determines the classification
menetapkan klasifikasi atas liabilitas of its financial liabilities at initial
keuangan pada saat pengakuan awal. recognition.
Liabilitas keuangan pada awalnya diukur Financial liabilities are recognized initially
pada nilai wajar dan, dalam hal pinjaman at fair value and, in the case of loans and
dan utang, ditambah biaya transaksi borrowings, inclusive of directly
yang dapat diatribusikan secara attributable transaction costs.
langsung.
Liabilitas keuangan Grup meliputi utang The Group’s financial liabilities include
usaha dan utang lain-lain, biaya akrual, trade and other payables, accrued
pinjaman bank jangka pendek, pinjaman expenses, short-term bank loans, long-
jangka panjang, liabilitas sewa dan term debts, lease liabilities and derivative
liabilitas derivatif. liabilities.
Pengakuan Setelah Pengukuran Awal Subsequent Measurement
Pengukuran selanjutnya dari liabilitas The measurement of financial liabilities
keuangan ditentukan oleh klasifikasinya depends on their classification as
sebagai berikut: described below:
54
Page 223
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 221
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
ii. Liabilitas Keuangan (lanjutan) ii. Financial Liabilities (continued)
Pengakuan Setelah Pengukuran Awal Subsequent Measurement (continued)
(lanjutan)
Liabilitas keuangan pada biaya perolehan Financial liabilities at amortized cost
diamortisasi (Utang dan pinjaman) (Loans and borrowings)
(i) Utang dan Pinjaman Jangka Panjang (i) Long-term Interest-bearing Loans and
yang Dikenakan Bunga Borrowings
Ini adalah kategori yang paling This is the category most relevant to
relevan dengan Grup. Setelah the Group. After initial recognition,
pengakuan awal, utang dan pinjaman long-term interest-bearing loans and
berbunga jangka panjang diukur borrowings are measured at
dengan biaya perolehan diamortisasi amortized acquisition costs using EIR
dengan menggunakan metode SBE. method. Gains and losses are
Keuntungan dan kerugian diakui recognized in the profit or loss when
dalam laba rugi pada saat liabilitas the liabilities are derecognized as well
dihentikan pengakuannya dan juga as through the EIR amortization
melalui proses amortisasi SBE. process.
Biaya perolehan diamortisasi dihitung Amortized cost is calculated by taking
dengan mempertimbangkan setiap into account any discount or premium
diskonto atau premium atas on acquisition and fee or costs that
perolehan dan komisi atau biaya yang are an integral part of the EIR. The
merupakan bagian tidak terpisahkan EIR amortization is included in
dari SBE. Amortisasi SBE dicatat finance costs in the profit or loss.
sebagai beban keuangan pada laba
rugi.
Kategori ini umumnya berlaku untuk This category generally applies to
utang dan pinjaman berbunga. Untuk interest-bearing loans and
informasi lebih lanjut, lihat Catatan borrowings. For more information,
28. refer to Note 28.
(ii) Utang dan Akrual (ii) Payables and Accruals
Liabilitas untuk utang usaha dan Liabilities for current trade and other
utang lain-lain jangka pendek dan accounts payable and accrued
biaya masih harus dibayar dinyatakan expenses are stated at carrying
sebesar jumlah tercatat (jumlah amounts (notional amounts), which
nosional), yang kurang lebih sebesar approximate their fair values.
nilai wajarnya.
Liabilitas Keuangan yang Diukur pada Financial Liabilities at Fair Value through
Nilai Wajar Melalui Laba Rugi Profit or Loss
Liabilitas keuangan yang diukur pada Financial liabilities at fair value through
nilai wajar melalui laba rugi termasuk profit or loss include financial liabilities
liabilitas keuangan yang dimiliki untuk held for trading and financial liabilities
diperdagangkan dan liabilitas keuangan designated upon initial recognition as at
yang ditetapkan pada pengakuan awal fair value through profit or loss.
sebagai nilai wajar melalui laba rugi.
55
Page 224
2025 Management Business Company Corporate
222 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Instrumen Keuangan (lanjutan) s. Financial Instruments (continued)
ii. Liabilitas Keuangan (lanjutan) ii. Financial Liabilities (continued)
Liabilitas Keuangan yang diukur pada Financial Liabilities at Fair Value through
Nilai Wajar Melalui Laba Rugi (lanjutan) Profit or Loss (continued)
Liabilitas keuangan diklasifikasikan Financial liabilities are classified as held
sebagai kelompok diperdagangkan jika for trading if they are incurred for the
mereka terjadi untuk tujuan pembelian purpose of repurchasing in the near term.
kembali dalam waktu dekat. Derivatif Separated embedded derivatives are
melekat yang dipisahkan juga also classified as held for trading unless
diklasifikasikan sebagai kelompok they are designated as effective hedging
diperdagangkan kecuali ditetapkan instruments.
sebagai instrumen lindung nilai yang
efektif.
Keuntungan atau kerugian atas liabilitas Gains or losses on liabilities held for
yang dimiliki untuk diperdagangkan trading are recognized in profit or loss.
diakui dalam laba rugi.
Liabilitas keuangan yang ditetapkan pada Financial liabilities designated upon initial
pengakuan awal pada nilai wajar melalui recognition at fair value through profit or
laba rugi ditetapkan pada tanggal awal loss are designated at the initial date of
pengakuan, dan hanya jika kriteria dalam recognition, and only if the criteria in
PSAK 109 terpenuhi. PSAK 109 are satisfied.
Penghentian Pengakuan Derecognition
Liabilitas keuangan dihentikan A financial liability is derecognized when
pengakuannya ketika liabilitas yang the obligation under the liability is
ditetapkan dalam kontrak dihentikan atau discharged or cancelled or has expired.
dibatalkan atau kadaluwarsa.
Ketika kewajiban keuangan yang ada When an existing financial liability is
digantikan oleh yang lain dari pemberi replaced by another from the same
pinjaman yang sama dengan persyaratan lender on substantially different terms, or
yang secara substansial berbeda, atau the terms of an existing liability are
persyaratan dari kewajiban yang ada substantially modified, such an exchange
secara substansial dimodifikasi, or modification is treated as the
pertukaran atau modifikasi tersebut derecognition of the original liability and
diperlakukan sebagai penghentian the recognition of a new liability. The
pengakuan kewajiban awal dan difference in the respective carrying
pengakuan kewajiban baru. Selisih nilai amounts is recognized in the
tercatat masing-masing diakui pada consolidated statement of profit or loss
laporan laba rugi dan penghasilan and other comprehensive income.
komprehensif lain konsolidasian.
iii. Saling Hapus Instrumen Keuangan iii. Offsetting Financial Instruments
Aset keuangan dan liabilitas keuangan Financial assets and financial liabilities
disalinghapuskan dan jumlah netonya are offset and the net amount is reported
dilaporkan pada laporan posisi keuangan in the consolidated statement of financial
konsolidasian ketika terdapat hak yang position when there is a legally
berkekuatan hukum untuk melakukan enforceable right to offset the recognized
saling hapus atas jumlah yang telah amounts and there is an intention to
diakui tersebut dan adanya niat untuk settle on a net basis, or realize the asset
menyelesaikan secara neto, atau untuk and settle the liability simultaneously.
merealisasikan aset dan menyelesaikan
liabilitas secara bersamaan.
56
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 223
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
t. Instrumen Keuangan Derivatif dan t. Derivative Financial Instruments and Hedge
Akuntansi Lindung Nilai Accounting
Grup menggunakan instrumen keuangan The Group uses derivative financial
derivatif seperti swap tingkat suku bunga antar instruments such as cross currency interest
mata uang, kontrak forward mata uang asing, rate swaps, foreign currency forward
swap antar mata uang dan kontrak komoditas contracts, cross-currency swaps and
untuk melakukan lindung nilai atas risiko mata commodity contracts to hedge its foreign
uang asing, risiko tingkat suku bunganya dan currency risks, interest rate risks and
risiko harga komoditas. Instrumen keuangan commodity price risk. Such derivative financial
derivatif tersebut pada awalnya diakui sebesar instruments are initially recognized at fair value
nilai wajar pada tanggal kontrak derivatif on the date on which a derivative contract is
dimulai dan selanjutnya diukur kembali pada entered into and are subsequently remeasured
nilai wajar. Derivatif dicatat sebagai aset at fair value. Derivatives are carried as
keuangan saat nilai wajarnya positif dan financial assets when the fair value is positive
sebagai liabilitas keuangan saat nilai wajarnya and as financial liabilities when the fair value is
negatif. negative.
Grup menerapkan akuntansi lindung nilai atas The Group applies hedge accounting to
transaksi lindung nilai yang memenuhi kriteria hedging transactions that meet the criteria for
akuntansi lindung nilai. hedge accounting.
Untuk tujuan akuntansi lindung nilai, lindung For the purpose of hedge accounting, hedges
nilai diklasifikasikan sebagai lindung nilai atas are classified as fair value hedge, cash flow
nilai wajar, lindung nilai atas arus kas dan hedge and hedge of a net investment in a
lindung nilai atas investasi neto dalam foreign operation.
kegiatan usaha luar negeri.
Pada awal hubungan lindung nilai, Grup At the inception of a hedge relationship, the
merancang dan mendokumentasikan Group formally designates and documents the
hubungan lindung nilai yang diinginkannya hedge relationship to which it wishes to apply
untuk menerapkan akuntansi lindung nilai hedge accounting, the risk management
secara formal, tujuan dan strategi manajemen objective and strategy for undertaking the
risiko untuk melakukan lindung nilai. hedge.
Dokumentasi tersebut mencakup identifikasi The documentation includes identification of
instrumen lindung nilai, item lindung nilai, sifat the hedging instrument, the hedged item, the
risiko yang dilindungi nilai dan bagaimana nature of the risk being hedged and how the
Grup akan menilai apakah hubungan lindung Group will assess whether the hedging
nilai tersebut memenuhi persyaratan relationship meets the hedge effectiveness
efektivitas lindung nilai (termasuk analisis requirements (including the analysis of
sumber ketidakefektifan lindung nilai dan sources of hedge ineffectiveness and how the
bagaimana rasio lindung nilai ditentukan). hedge ratio is determined). A hedging
Hubungan lindung nilai memenuhi syarat relationship qualifies for hedge accounting if it
untuk akuntansi lindung nilai jika memenuhi meets all of the following effectiveness
semua persyaratan efektivitas berikut: requirements:
i. Ada 'hubungan ekonomik' antara item i. There is ‘an economic relationship’
lindung nilai dan instrumen lindung nilai. between the hedged item and the
hedging instrument.
ii. Pengaruh risiko kredit tidak ii. The effect of credit risk does not
'mendominasi perubahan nilai' yang ‘dominate the value changes’ that result
dihasilkan dari hubungan ekonomik from that economic relationship.
tersebut.
57
Page 226
2025 Management Business Company Corporate
224 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
t. Instrumen Keuangan Derivatif dan t. Derivative Financial Instruments and Hedge
Akuntansi Lindung Nilai (lanjutan) Accounting (continued)
iii. Rasio lindung nilai dari hubungan lindung iii. The hedge ratio of the hedging relationship
nilai adalah rasio yang sama yang is the same as that resulting from the
dihasilkan dari kuantitas item lindung quantity of the hedged item that the Group
nilaian yang aktual digunakan oleh Grup actually hedges and the quantity of the
melindungi nilai sejumlah kuantitas hedging instrument that the Group actually
instrumen lindung nilaian yang secara uses to hedge that quantity of hedged item.
aktual digunakan oleh Grup untuk
melindungi sejumlah kuantitas item lindung
nilaian.
Lindung nilai yang memenuhi semua kriteria Hedges that meet all the qualifying criteria for
kualifikasian untuk akuntansi lindung nilai yang hedge accounting are accounted for, as
dicatat, seperti yang dijelaskan di bawah ini: described below:
Lindung Nilai Arus Kas Cash Flow Hedge
Grup mempunyai kontrak forward dan swap The Group entered into forward and cross-
antar mata uang yang digunakan sebagai currency swap contracts that are used to
lindung nilai atas eksposur perubahan dalam hedge for the exposure to changes in cash
arus kas sehubungan dengan perubahan nilai flows due to changes in foreign exchange
tukar mata uang asing. Grup juga mempunyai rates. The Group also entered into commodity
kontrak collar komoditas dan kontrak opsi collar and commodity options contract that are
komoditas yang digunakan sebagai lindung used as a hedge for the exposure to changes
nilai atas eksposur perubahan harga in commodity price. Such forward, swap and
komoditas. Kontrak forward, swap dan opsi commodity contracts are accounted for under
komoditas tersebut dicatat dengan hedge accounting.
menggunakan akuntansi lindung nilai.
Grup merancang hanya elemen spot dari The Group designates only the spot element of
kontrak forward dan swap antar mata uang the forward and cross-currency swap contracts
serta nilai intrinsik opsi komoditas sebagai and the intrinsic value of commodity options as
instrumen lindung nilai. Unsur masa depan hedging instruments. The forward element of
dari kontrak forward dan swap antar mata forward and cross-currency swap contracts as
uang, serta komponen nilai waktu dari opsi well as the time value component of
komoditas diakui dalam OCI dan commodity options are recognized in OCI and
diakumulasikan dalam komponen terpisah dari accumulated in a separate component of
ekuitas sebagai bagian dari penyesuaian nilai equity under fair value adjustment on cash
wajar atas instrumen lindung nilai arus kas. flow hedging instruments. Because the
Karena lindung nilai arus kas Grup tidak Group’s cash flow hedges does not lead to the
menyebabkan pengakuan item-item non- recognition of non-financial items on balance
keuangan di neraca, jumlah yang terakumulasi sheet, the amount accumulated in OCI is
dalam OCI direklasifikasi ke laba rugi sebagai reclassified to profit or loss as a
penyesuaian reklasifikasi pada periode atau reclassification adjustment in the same period
periode yang sama di mana arus kas yang or periods during which the hedged cash flows
dilindung nilai memengaruhi laba atau affect profit or loss.
kerugian.
58
Page 227
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 225
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
u. Pengakuan Pendapatan dan Beban u. Revenue and Expense Recognition
Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers is
diakui ketika pengendalian barang atau jasa recognized when control of the goods or
dialihkan kepada pelanggan dengan jumlah services are transferred to the customer at an
yang mencerminkan imbalan yang diharapkan amount that reflects the consideration to which
akan menjadi hak Grup dalam pertukaran the Group expects to be entitled in exchange
barang dan jasa tersebut. Grup telah for those goods or services. The Group has
menyimpulkan bahwa Grup adalah prinsipal concluded that it is the principal in all of its
dalam semua pengaturan pendapatannya revenue arrangements since it controls the
karena Grup mengendalikan barang atau jasa goods or services before transferring them to
sebelum mentransfernya ke pelanggan. the customer.
Saldo Kontrak Contract Balances
• Aset kontrak • Contract assets
Jika Grup melaksanakan transfer barang If the Group performs by transferring
atau jasa kepada pelanggan sebelum goods or services to a customer before
pelanggan membayar imbalan atau the customer pays consideration or
sebelum pembayaran jatuh tempo, aset before payment is due, a contract asset
kontrak diakui untuk imbalan yang is recognized for the earned
diperoleh yang bersyarat. consideration that is conditional.
• Piutang usaha • Trade receivables
Piutang merupakan hak Grup atas A receivable represents the Group’s right
sejumlah imbalan yang tidak bersyarat to an amount of consideration that is
(yaitu, hanya berlalunya waktu yang unconditional (i.e., only the passage of
diperlukan sebelum pembayaran imbalan time is required before payment of the
jatuh tempo). consideration is due).
• Liabilitas kontrak • Contract liabilities
Jika pelanggan membayar imbalan If a customer pays consideration before
sebelum Grup mentransfer barang the Group transfers goods to the
kepada pelanggan, liabilitas kontrak customer, a contract liability is
diakui pada saat pembayaran dilakukan recognized when the payment is made or
atau pembayaran jatuh tempo (mana the payment is due (whichever is earlier).
yang lebih awal). Liabilitas kontrak diakui Contract liabilities are recognized as
sebagai pendapatan pada saat Grup revenue when the Group performs under
melakukan kewajiban pelaksanaan the contract.
berdasarkan kontrak.
Grup mempertimbangkan apakah ada janji lain The Group considers whether there are other
dalam kontrak yang merupakan kewajiban promises in the contract that are separate
pelaksanaan terpisah pada mana sebagian performance obligations to which a portion of
dari harga transaksi perlu dialokasikan. Grup the transaction price needs to be allocated
mempertimbangkan pengaruh dari imbalan (example guarantee, customer loyalty points).
variabel, keberadaan komponen pendanaan The Group considers the effects of variable
yang signifikan, imbalan non-kas, dan utang consideration, the existence of significant
imbalan kepada pelanggan (jika ada). financing components, non-cash
consideration, and consideration payable to
the customer (if any).
59
Page 228
2025 Management Business Company Corporate
226 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
u. Pengakuan Pendapatan dan Beban u. Revenue and Expense Recognition
(lanjutan) (continued)
(i) Imbalan variabel (i) Variable consideration
Jika imbalan dalam kontrak mencakup If the consideration in a contract includes
jumlah variabel, Grup mengestimasi a variable amount, the Group estimates
jumlah imbalan yang menjadi haknya the amount of consideration to which it
sebagai imbalan atas pengalihan barang will be entitled in exchange for
kepada pelanggan. Imbalan variabel transferring the goods to the customer.
diestimasi pada awal kontrak dan The variable consideration is estimated at
dibatasi hingga kemungkinan besar contract inception and constrained until it
bahwa pembalikan pendapatan yang is highly probable that a significant
signifikan dalam jumlah pendapatan revenue reversal in the amount of
kumulatif yang diakui tidak akan terjadi cumulative revenue recognized will not
ketika ketidakpastian terkait dengan occur when the associated uncertainty
imbalan variabel kemudian diselesaikan. with the variable consideration is
subsequently resolved.
(ii) Komponen pendanaan yang signifikan (ii) Significant financing component
Dalam kontrak tertentu, Grup juga In certain contracts, the Group receives
menerima uang muka jangka panjang long-term advances from customers.
dari pelanggan. Uang muka jangka Long-term advances from customers are
panjang dari pelanggan tersebut subject to market interest rates.
merupakan subjek terhadap tingkat Otherwise, the transaction price for such
bunga pasar. Harga transaksi untuk contracts is discounted, using the rate
kontrak tersebut didiskontokan, that would be reflected in a separate
menggunakan tarif yang akan tercermin financing transaction between the Group
dalam transaksi pendanaan terpisah and its customers at contract inception, to
antara Grup dan pelanggannya pada take into consideration the significant
permulaan kontrak, untuk financing component.
mempertimbangkan komponen
pendanaan yang signifikan.
Untuk uang muka jangka pendek dari For any short-term advances from its
pelanggan, dengan menggunakan customers, using the practical expedient
panduan praktis dalam PSAK 115, Grup in PSAK 115, the Group does not adjust
tidak menyesuaikan jumlah imbalan yang the promised amount of consideration for
dijanjikan atas dampak komponen the effects of a significant financing
pendanaan signifikan jika diharapkan, component if it expects, at contract
pada awal kontrak, bahwa periode antara inception, that the period between the
pengalihan barang atau jasa yang transfer of the promised good or service
dijanjikan kepada pelanggan dan ketika to the customer and when the customer
pelanggan membayar barang atau jasa pays for that good or service will be one
itu satu tahun atau kurang. year or less.
60
Page 229
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 227
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
u. Pengakuan Pendapatan dan Beban u. Revenue and Expense Recognition
(lanjutan) (continued)
Pendapatan dari Penjualan Minyak dan Gas Revenue from Sales of Oil and Gas
Bumi
Pendapatan dari penjualan minyak, gas bumi Revenue from the sale of oil, natural gas and
dan barang-barang lainnya diakui pada saat other items is recognized at the point in time
pengendalian produk dialihkan ke pelanggan, when control of the product is transferred to
yang umumnya ketika produk secara fisik the customer, which is generally when the
dipindahkan ke dalam kapal, pipa atau product is physically transferred into a vessel,
mekanisme pengiriman lainnya dan pelanggan pipe or other delivery mechanism and the
menerima produk. Akibatnya, kewajiban customer accepts the product. Consequently,
pelaksanaan Grup dianggap hanya terkait the Group’s performance obligations are
dengan penjualan minyak, gas bumi considered to relate only to the sale of oil,
berdasarkan pengaturan kontrak yang berlaku. natural gas under the contractual
Biaya pengangkutan dan pengapalan arrangements in place. The transportation and
sehubungan dengan pengalihan produk ke shipping cost associated with the transfer of
tempat penjualan diakui sebagai biaya the product to the point of sale is recognized
penjualan. as a selling cost.
Berdasarkan ketentuan pengaturan bagi hasil Under the terms of the relevant production
yang relevan, Grup berhak atas bagian sharing arrangements, the Group is entitled to
keikutsertaannya dalam minyak dan gas bumi its participating share in the oil and natural gas
berdasarkan hak partisipasi Grup. Pendapatan based on the Group’s working interest.
dari kontrak dengan pelanggan diakui Revenue from contracts with customers is
berdasarkan volume aktual yang dijual kepada recognized based on the actual volumes sold
pelanggan. Tidak ada penyesuaian yang to customers. No adjustments are made to
dilakukan pada pendapatan untuk setiap revenue for any differences between volumes
perbedaan antara volume yang dijual ke sold to customers and unsold volumes which
pelanggan dan volume yang tidak terjual yang the Group is entitled to sell based on its
berhak dijual Grup berdasarkan hak working interest. Revenue in respect of such
partisipasinya. Pendapatan sehubungan volumes is only recognized when there is a
dengan volume tersebut hanya diakui jika ada transfer of output to the Group’s customers.
transfer output ke pelanggan Grup. Namun, However, where liftings do not match working
jika liftings tidak sesuai dengan hak partisipasi interest or entitlement interest, an adjustment
atau kepemilikan, penyesuaian dilakukan pada is made to cost of revenue representing the
beban pokok pendapatan yang mencerminkan amount due to/from partners representing
jumlah terutang/tagihan dari partner yang overlifting/underlifting movements.
merupakan pergerakan overlifting/underlifting.
Pendapatan dari Usaha Kelistrikan Revenue from Power Business
Pendapatan yang berkaitan dengan komponen Revenue related to the other components of
lain dari harga tenaga listrik yang dikirimkan the price of electric power delivered (cost of
(biaya gas, perawatan dan overhead) diakui gas, maintenance and overhead) is recognized
sebagai pendapatan pada saat penyerahan as revenue upon delivery of electric power to
tenaga listrik ke pelanggan. Kontrol dialihkan customer. Control is transferred at a point in
pada suatu titik waktu, umumnya setelah time, generally upon delivery to the customer.
pengiriman ke pelanggan.
Pendapatan dari operasi dan pemeliharaan, Revenue from operations and maintenance,
dan jasa lainnya diakui pada saat jasa and other services is recognized when
diberikan. Pengendalian ditransfer secara services is rendered. Control is transferred
bertahap dan pelanggan secara bersamaan over time as the customers simultaneously
menerima dan mengkonsumsi jasa yang receives and consumes the benefits provided
diberikan oleh Grup. by the Group.
61
Page 230
2025 Management Business Company Corporate
228 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
u. Pengakuan Pendapatan dan Beban u. Revenue and Expense Recognition
(lanjutan) (continued)
Pendapatan dan Biaya Konstruksi Construction Revenue and Cost
Pendapatan dan biaya dari kegiatan kontrak Revenue and costs from long-term contract
jangka panjang diakui berdasarkan tahap activities are recognized based on the stage of
penyelesaian yang ditentukan berdasarkan completion which is determined based on the
proporsi biaya kontrak yang terjadi untuk proportion of contract costs incurred for work
pekerjaan yang dilakukan sampai saat ini performed to date compared to the estimated
dibandingkan dengan perkiraan jumlah biaya total contract costs.
kontrak.
Grup mengakui pendapatan konstruksi dari The Group recognizes construction revenues
waktu ke waktu menggunakan metode input over time using the input method based on the
berdasarkan laporan bulanan atas proses monthly report over the completed
penyelesaian konstruksi. construction progress.
Pendapatan dari Usaha Lainnya Revenue from Others
Pendapatan dari usaha lainnya terutama Revenue from others pertains mainly to
berkaitan dengan pendapatan dari jasa. Grup revenue from services. The Group recognizes
mengakui pendapatan dari jasa ini dari waktu revenue from these services over time, using
ke waktu, dengan menggunakan metode input an input method to measure progress towards
untuk mengukur proses menuju kepuasan complete satisfaction of the service, because
penuh atas layanan tersebut, karena the customer simultaneously receives and
pelanggan secara bersamaan menerima dan consumes the benefits provided by the Group.
menggunakan manfaat yang diberikan oleh
Grup.
Pendapatan yang dihasilkan dari pengaturan Revenue resulting from arrangements that are
yang tidak dianggap sebagai kontrak dengan not considered contracts with customers is
pelanggan disajikan sebagai pendapatan dari presented as revenue from other sources.
sumber lain.
Modifikasi Kontrak Contract Modifications
Kontrak Grup dengan pelanggan dapat The Group’s contracts with customers may be
dinegosiasikan dari waktu ke waktu dan negotiated from time to time and certain
ketentuan tertentu seperti penetapan harga provisions such as pricing and working interest
dan hak partisipasi dapat diubah dalam may be amended in the agreement. Subject to
perjanjian. Tunduk pada sifat perubahan ini, the nature of these changes, the Group
Grup memperhitungkan modifikasi kontrak accounts for modification of the existing
yang ada berdasarkan volume komitmen yang contract based on agreed volume
disepakati sebelum dan setelah modifikasi commitments before and after the contract
kontrak dan perubahan harga yang timbul dari modification and the price changes arising
modifikasi. from the modification.
Beban Expenses
Beban diakui pada saat terjadinya dengan Expenses are recognized as incurred on an
menggunakan metode akrual. accrual basis.
v. Perpajakan v. Taxation
Beban pajak penghasilan terdiri dari pajak kini The income tax expense comprises current
dan pajak tangguhan. Pajak diakui dalam and deferred tax. Tax is recognized in the
laporan laba rugi, kecuali jika pajak tersebut statement of profit or loss, except to the extent
terkait dengan transaksi atau kejadian yang that it relates to items recognized in other
diakui di penghasilan komprehensif lain atau comprehensive income or directly in equity. In
langsung diakui ke ekuitas. Dalam hal ini, this case, the tax is also recognized in other
pajak tersebut masing-masing diakui dalam comprehensive income or directly in equity,
penghasilan komprehensif lain atau ekuitas. respectively.
62
Page 231
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 229
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
v. Perpajakan (lanjutan) v. Taxation (continued)
Pajak Kini Current Tax
Beban pajak kini ditentukan berdasarkan laba Current tax expense is determined based on
kena pajak dalam tahun yang bersangkutan. the taxable income for the year. Tax rates
Tarif pajak yang digunakan untuk menghitung used to compute the amount are those that
jumlah tersebut adalah yang telah berlaku atau have been enacted or substantively enacted at
secara substantif telah berlaku pada tanggal the reporting date.
pelaporan.
Aset dan liabilitas pajak kini untuk tahun Current tax assets and liabilities for the current
berjalan dan tahun sebelumnya diukur sebesar and prior years are measured at the amounts
jumlah yang diharapkan dapat direstitusi dari expected to be recovered from or paid to the
atau dibayarkan kepada otoritas perpajakan. tax authorities.
Koreksi terhadap liabilitas perpajakan dicatat Amendments to taxation obligations are
saat surat ketetapan pajak diterima dan recorded when an assessment is received and
apabila dilakukan banding, ketika hasil if appealed, when the result of the appeal is
banding sudah diputuskan. Kekurangan/ determined. The underpayment/overpayment
kelebihan pembayaran pajak penghasilan of income tax are recorded as part of "Current
dicatat sebagai bagian dari “Beban Pajak Kini” Tax" in the consolidated statements of profit or
dalam laporan laba rugi dan penghasilan loss and other comprehensive income.
komprehensif lain konsolidasian. Bunga dan Interests and penalties are presented as part
denda disajikan sebagai bagian dari beban of other operating expenses since they are not
operasi lainnya karena tidak dianggap sebagai considered as part of the income tax expense.
bagian dari beban pajak penghasilan.
Sebagai tanggapan terhadap penerapan In response to the implementation of the
kerangka Pilar 2 Organisasi untuk Kerja Sama Organisation for Economic Co-operation and
dan Pembangunan Ekonomi (Organisation for Development (“OECD”) Pillar 2 framework rule
Economic Co-operation and Development (“Pillar 2”), on December 31, 2024, Indonesian
atau "OECD"), pada tanggal 31 Desember Government implemented Pillar 2 framework
2024, Pemerintah Indonesia menetapkan through Ministry of Finance Regulation No.
aturan kerangka Pilar 2 (:Pillar 2”) melalui 136/2024 (PMK 136/2024). The Pillar 2 model
Peraturan Menteri Keuangan No. 136/2024 rules as implemented under PMK 136/2024
(PMK 136/2024). Pilar 2 sesuai PMK 136/2024 will take effect for fiscal years beginning on or
akan berlaku untuk tahun fiskal yang dimulai after January 1, 2025. For the year ended
pada atau setelah tanggal 1 Januari 2025. December 31, 2025, the Group has applied
Untuk tahun yang berakhir pada 31 Desember amendments to PSAK 212: Income Taxes,
2025, Grup telah menerapkan amandemen which provide mandatory temporary exception
PSAK 212: Pajak Penghasilan, yang from recognizing or disclosing deferred taxes
memberikan pengecualian wajib sementara related to Pillar 2. PMK 136/2024 applies new
dari pengakuan atau pengungkapan pajak taxing mechanisms under which a
tangguhan terkait Pilar 2. PMK 136/2024 Multinational Enterprises (“MNE”) should pay a
menerapkan mekanisme perpajakan baru top-up tax in a jurisdiction whenever their
yang mensyaratkan Perusahaan Multinasional efective tax rate, determined on a jurisdictional
("PMN") untuk membayar pajak tambahan basis under the Pillar2, is below a 15%
padayurisdiksi tertentu ketika tarif pajak efektif minimum rate.
yang ditentukan per yurisdiksi menurut Pilar 2
lebih rendah dari tarif minimum 15%.
63
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2025 Management Business Company Corporate
230 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
v. Perpajakan (lanjutan) v. Taxation (continued)
Pajak Tangguhan Deferred Tax
Pajak tangguhan diakui dengan menggunakan Deferred tax is recognized using the liability
metode liabilitas atas perbedaan temporer method on temporary differences between the
antara perhitungan akuntansi dan basis financial and the tax bases of assets and
perhitungan pajak atas aset dan kewajiban liabilities at the financial reporting date.
pada tanggal pelaporan.
Aset dan liabilitas pajak tangguhan diakui atas Deferred tax assets and liabilities are
perbedaan temporer antara jumlah tercatat recognized for temporary differences between
aset dan liabilitas pada laporan posisi the carrying amount of assets and liabilities
keuangan dengan dasar pengenaan pajaknya with their tax bases at the financial reporting
pada setiap tanggal pelaporan. Aset pajak date. Deferred tax assets are recognized for all
tangguhan diakui untuk seluruh perbedaan deductible temporary differences and
temporer yang boleh dikurangkan dan accumulated tax losses that have not been
akumulasi rugi pajak yang belum utilized, if taxable income is likely to be
dikompensasikan, bila kemungkinan besar available so that the temporary differences can
laba kena pajak akan tersedia sehingga be deducted and the unutilized tax losses can
perbedaan temporer dapat dikurangkan dan be utilized.
rugi pajak belum dikompensasikan tersebut
dapat dimanfaatkan.
Liabilitas pajak tangguhan dan aset pajak Deferred tax liabilities and deferred tax assets
tangguhan (jika memenuhi kriteria) diakui atas (if they meet the criteria) are recognized for
perbedaan temporer kena pajak terkait dengan temporary differences associated with
investasi pada entitas anak dan asosiasi, investments in subsidiaries and associates,
kecuali yang waktu pembalikannya dapat unless the timing of the reversal of temporary
dikendalikan dan kemungkinan besar differences can be controlled and it is probable
perbedaan temporer tersebut tidak akan that the temporary differences will not be
dibalik di masa depan yang dapat reversed in the foreseeable future.
diperkirakan.
Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of deferred tax assets is
pada setiap tanggal pelaporan dan nilai reviewed at each reporting date and is
tercatat aset pajak tangguhan tersebut reduced to the extent that it is no longer
diturunkan apabila laba fiskal mungkin tidak probable that sufficient taxable income will be
memadai untuk mengkompensasi sebagian available in the future to enable some or all of
atau semua manfaat aset pajak tangguhan. the benefits of the deferred tax assets to be
Aset pajak tangguhan yang belum diakui realized. Deferred tax assets that have not
sebelumnya ditelaah pada setiap tanggal been recognized previously are reviewed at
pelaporan dan diakui sepanjang laba kena each reporting date and recognized to the
pajak yang akan datang kemungkinan besar extent that it has become probable that
akan tersedia untuk dipulihkan. sufficient taxable income will be available to
enable the deferred tax assets to be
recovered.
Aset dan liabilitas pajak tangguhan diukur Deferred tax assets and liabilities are
berdasarkan tarif pajak yang diharapkan akan measured based on tax rates that are
dipakai pada tahun saat aset terealisasi dan expected to apply to the year when the assets
liabilitas diselesaikan berdasarkan tarif pajak are realized and liabilities are settled based on
dan peraturan perpajakan yang berlaku atau the tax rates and tax laws that have been
yang secara substantif berlaku pada tanggal enacted or substantively enacted at the
laporan posisi keuangan konsolidasian. consolidated statements of financial position
date.
64
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 231
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
v. Perpajakan (lanjutan) v. Taxation (continued)
Pajak Tangguhan (lanjutan) Deferred Tax (continued)
Aset pajak tangguhan dan liabilitas pajak Deferred tax assets and deferred tax liabilities
tangguhan saling hapus jika terdapat hak are offset if there is a legal right to off-set
secara hukum untuk melakukan saling hapus deferred tax assets against deferred tax
atas aset pajak tangguhan terhadap liabilitas liabilities and the deferred tax assets and
pajak tangguhan atau aset dan liabilitas pajak liabilities pertain to the same entity.
tangguhan pada entitas yang sama.
Pajak tangguhan terkait pos yang diakui di luar Deferred tax relating to items recognized
laba atau rugi diakui di luar laba atau rugi. outside profit or loss is recognized outside
Pajak tangguhan pos terkait diakui sesuai profit or loss. Deferred tax items are
dengan transaksi yang mendasari yaitu diakui recognized in correlation to the underlying
pada penghasilan komprehensif lain atau transaction either in other comprehensive
langsung ke ekuitas. income or directly in equity.
Grup melakukan saling hapus aset pajak The Group offsets deferred tax assets and
tangguhan dan liabilitas pajak tangguhan jika deferred tax liabilities if and only if it has a
dan hanya jika memiliki hak yang berkekuatan legally enforceable right to set off current tax
hukum untuk saling hapus aset pajak kini dan assets and current tax liabilities and the
liabilitas pajak kini dan aset pajak tangguhan deferred tax assets and deferred tax liabilities
dan liabilitas pajak tangguhan terkait dengan relate to income taxes levied by the same
pajak penghasilan yang dikenakan oleh taxation authority on either the same taxable
otoritas perpajakan yang sama atas baik entity or different taxable entities which intend
entitas kena pajak yang sama atau entitas either to settle current tax liabilities and assets
kena pajak yang berbeda yang bermaksud on a net basis, or to realise the assets and
untuk menyelesaikan liabilitas dan aset pajak settle the liabilities simultaneously, in each
kini secara neto, atau untuk merealisasikan future period in which significant amounts of
aset dan menyelesaikan liabilitas secara deferred tax liabilities or assets are expected
bersamaan, pada setiap periode masa depan to be settled or recovered.
di mana jumlah liabilitas atau aset pajak
tangguhan yang signifikan diharapkan untuk
diselesaikan atau dipulihkan.
Entitas anak yang terlibat dalam kegiatan Subsidiaries involved in oil and gas exploration
eksplorasi dan produksi minyak dan gas bumi and production in Indonesia are subject to
di Indonesia dikenai tarif pajak penghasilan income tax at rates ranging from 36.25% to
sebesar antara 36,25% sampai 48%. 48%.
Entitas anak yang terlibat dalam kegiatan Subsidiaries involved in oil and gas exploration
eksplorasi dan produksi minyak dan gas bumi and production outside Indonesia are subject
di luar Indonesia dikenai berbagai tarif pajak to various corporate income tax rates ranging
penghasilan badan sebesar antara 15% from 15% to 55%.
sampai 55%.
Entitas anak yang beroperasi dalam bidang Subsidiaries involved in non-oil and gas
selain minyak dan gas bumi di Indonesia activities in Indonesia are subject to corporate
dikenakan tarif pajak sebesar antara 22% income tax rates from 22% to 34%.
sampai 34%.
65
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2025 Management Business Company Corporate
232 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
v. Perpajakan (lanjutan) v. Taxation (continued)
Pajak Pertambahan Nilai (PPN) Value Added Tax (VAT)
Jumlah PPN neto yang terpulihkan dari, atau The net amount of VAT recoverable from, or
terutang kepada, kantor pajak termasuk payable to, the taxation authorities is included
sebagai bagian dari piutang atau utang pada as part of receivables or payables in the
laporan posisi keuangan konsolidasian. consolidated statement of financial position.
Pajak Final Final Tax
Grup memiliki pendapatan yang dikenakan The Group has earnings that is subject to final
pajak final terutama dari pendapatan bunga. tax mainly from interest income.
Sesuai peraturan perpajakan di Indonesia, In accordance with the tax regulation in
pajak final dikenakan atas nilai bruto transaksi, Indonesia, final tax is applied to the gross
dan tetap dikenakan walaupun atas transaksi value of transactions, even when the parties
tersebut pelaku transaksi mengalami kerugian. carrying the transaction are recognizing
losses.
Pajak final tidak termasuk dalam lingkup yang Final tax is scoped out from PSAK 212:
diatur oleh PSAK 212: Pajak Penghasilan. Income Tax.
w. Penurunan Nilai Aset Non-Keuangan w. Impairment of Non-Financial Assets
Pada setiap akhir periode pelaporan, Grup At end of each reporting period, the Group
menilai apakah terdapat indikasi suatu aset assesses whether there is an indication that an
mengalami penurunan nilai. Jika terdapat asset may be impaired. If any such indication
indikasi tersebut, atau pada saat pengujian exists, or when annual impairment testing for
tahunan penurunan nilai aset (yaitu, goodwill an asset (i.e., goodwill acquired in a business
yang diperoleh dalam suatu kombinasi bisnis) combination) is required, the Group makes an
diperlukan, maka Grup membuat estimasi estimate of the asset’s recoverable amount.
jumlah terpulihkan aset tersebut.
Jumlah terpulihkan yang ditentukan untuk aset An asset’s recoverable amount is the higher of
individual adalah jumlah yang lebih tinggi the asset’s or CGU’s fair value less costs to
antara nilai wajar aset atau UPK dikurangi sell and its value in use, and is determined for
biaya untuk menjual dan nilai pakainya, dan an individual asset, unless the asset does not
ditentukan untuk aset individual, kecuali aset generate cash inflows that are largely
tersebut tidak menghasilkan arus kas masuk independent of those from other assets or
yang sebagian besar independen dari aset lain groups of assets. Where the carrying amount
atau kelompok aset lain. Jika nilai tercatat aset of an asset exceeds its recoverable amount,
lebih besar daripada nilai terpulihkannya, the asset is considered impaired and is written
maka aset tersebut mengalami penurunan nilai down to its recoverable amount. The
dan nilai tercatat aset diturunkan menjadi impairment losses of continuing operations are
sebesar nilai terpulihkannya. Rugi penurunan recognized in profit or loss as “impairment
nilai dari operasi yang dilanjutkan diakui pada losses”.
laporan laba rugi sebagai “kerugian atas
penurunan nilai aset”.
66
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 233
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
w. Penurunan Nilai Aset Non-Keuangan w. Impairment of Non-Financial Assets
(lanjutan) (continued)
Pemulihan rugi penurunan nilai untuk aset Reversal on impairment loss for non-financial
non-keuangan selain goodwill, diakui jika, dan assets other than goodwill would be
hanya jika, terdapat perubahan estimasi yang recognized if, and only if, there has been a
digunakan dalam menentukan jumlah change in the estimates used to determine the
terpulihkan aset sejak pengujian penurunan assets’ recoverable amount since the last
nilai terakhir kali. Pembalikan tersebut dibatasi impairment test was carried out. The reversal
sehingga jumlah tercatat aset tidak melebihi is limited so that the carrying amount of the
jumlah terpulihkannya maupun jumlah tercatat, asset does not exceed its recoverable amount,
setelah dikurangi penyusutan, seandainya nor exceed the carrying amount that would
tidak ada rugi penurunan nilai yang telah have been determined, net of depreciation,
diakui untuk aset tersebut pada tahun had no impairment loss been recognized for
sebelumnya. Pembalikan rugi penurunan nilai the asset in prior years. Reversal of an
diakui segera dalam laba rugi. Setelah impairment loss is recognized immediately in
pembalikan tersebut, penyusutan aset tersebut profit or loss. After such a reversal, the
disesuaikan di periode mendatang untuk depreciation charge on the related asset is
mengalokasikan jumlah tercatat aset yang adjusted in future periods to allocate the
direvisi, dikurangi nilai sisanya, dengan dasar asset’s revised carrying amount, less any
yang sistematis selama sisa umur manfaatnya. residual value, on a systematic basis over its
remaining useful life.
Goodwill diuji untuk penurunan nilai setiap Goodwill is tested for impairment annually (on
tahun (pada tanggal 31 Desember) dan ketika December 31) and when circumstances
keadaan yang mengindikasikan bahwa nilai indicate that the carrying value may be
tercatat mungkin mengalami penurunan nilai. impaired. Impairment is determined for
Penurunan nilai bagi goodwill ditetapkan goodwill by assessing the recoverable amount
dengan menentukan jumlah terpulihkan dari of each CGU (or group of CGUs) to which the
setiap UPK (atau kelompok UPK) dimana goodwill relates. Where the recoverable
goodwill terkait. Jika jumlah terpulihkan dari amount of the CGU is less than its carrying
UPK kurang dari jumlah tercatatnya, rugi amount, an impairment loss is recognized.
penurunan nilai diakui.
Kerugian penurunan nilai yang berhubungan Impairment losses relating to goodwill cannot
dengan goodwill tidak dapat dibalik pada be reversed in future periods.
periode yang akan datang.
x. Pengaturan Bersama x. Joint Arrangement
Operasi Bersama Joint Operation
Operasi bersama adalah salah satu jenis A joint operation is a type of joint arrangement
pengaturan bersama dimana para pihak yang whereby the parties that have joint control of
memiliki pengendalian bersama atas the arrangement have rights to the assets and
pengaturan tersebut memiliki hak atas aset obligations for the liabilities, relating to the
dan kewajiban atas liabilitas, terkait dengan arrangement.
pengaturan tersebut.
Grup memiliki kepemilikan dalam operasi The Group has interests in several joint
bersama dimana Grup termasuk salah satu operation whereby the Group includes as a
pihak yang memiliki pengendalian bersama party which have joint control of a joint
atas operasi bersama (operator bersama). operation (joint operator).
67
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2025 Management Business Company Corporate
234 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
x. Pengaturan Bersama (lanjutan) x. Joint Arrangement (continued)
Operasi Bersama (lanjutan) Joint Operation (continued)
Ketika entitas mengakuisisi kepentingan dalam When an entity acquires an interest in a joint
operasi bersama yang aktivitas operasi operation in which the activity of the joint
bersamanya merupakan bisnis, kombinasi operation constitutes a business, it shall apply,
bisnis entitas tersebut, menerapkan seluruh all of the principles on business combinations
prinsip akuntansi kombinasi bisnis. Hal ini accounting. This applies to the acquisition of
diterapkan untuk akuisisi kepentingan awal both the initial interest and additional interests
dan kepentingan tambahan dalam operasi in a joint operation in which the activity of the
bersama yang aktivitas operasi bersamanya joint operation constitutes a business.
merupakan bisnis.
Ketika Grup melakukan transaksi dengan When the Group enters into a transaction with
operasi bersama, di mana Grup merupakan a joint operation in which it is a joint operator,
salah satu operator bersama, maka Grup the Group shall recognize gains and losses
mengakui keuntungan dan kerugian yang resulting from such a transaction only to the
dihasilkan dari transaksi tersebut hanya extent of the other parties’ interests in the joint
sebatas kepentingan para pihak lain dalam operation.
operasi bersama tersebut.
Ketika Grup kehilangan pengendalian Upon loss of joint control, the Group measures
bersama, Grup mengakui dan mencatat and recognizes its remaining investment at its
investasi yang tersisa pada nilai wajar. fair value. Any difference between the carrying
Perbedaan antara nilai tercatat dari entitas amount of the former jointly controlled entity
pengendalian bersama dahulu saat kehilangan upon loss of joint control and the fair value of
pengendalian bersama dan nilai wajar the remaining investment and gain from
investasi yang tersisa dan pendapatan dari disposal is recognized in profit or loss. When
pelepasan dicatat dalam laba atau rugi. Ketika the remaining investment constitutes
investasi tersisa menunjukkan pengaruh yang significant influence, it is accounted for as
signifikan, maka investasi akan dicatat sebagai investment in an associates.
investasi pada entitas asosiasi.
Ventura Bersama Joint Venture
Ventura bersama adalah pengaturan bersama Joint ventures are a joint arrangement
yang mengatur bahwa para pihak yang whereby the parties that have joint control of
memiliki pengendalian bersama atas the arrangement have rights to the net assets
pengaturan memiliki hak atas aset neto of the arrangement. Investment in joint
pengaturan tersebut. Investasi pada ventura ventures are accounted for using the equity
bersama dicatat menggunakan metode method.
ekuitas.
y. Informasi Segmen y. Segment Information
Segmen adalah komponen Grup yang dapat A segment is a distinguishable component of
dibedakan dalam menghasilkan produk the Group that is engaged either in providing
tertentu (segmen bisnis), atau dalam certain products (business segment), or in
menghasilkan produk dalam sebuah providing products within a particular economic
lingkungan ekonomi khusus (segmen environment (geographical segment), which is
geografis), yang merupakan subjek yang subject to risks and rewards that are different
mempunyai risiko dan manfaat yang berbeda from those of other segments.
dari segmen lainnya.
68
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 235
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
y. Informasi Segmen (lanjutan) y. Segment Information (continued)
Segmen pendapatan, beban, hasil, aset dan Segment revenue, expenses, results, assets,
liabilitas termasuk hal-hal yang dapat and liabilities include items directly attributable
diatribusikan secara langsung terhadap to a segment as well as those that can be
sebuah segmen dan juga yang dapat allocated on a reasonable basis to that
dialokasikan pada dasar yang wajar pada segment. They are determined before
segmen tersebut. Segmen tersebut ditentukan intragroup balances and intragroup
sebelum saldo intragrup dan transaksi transactions are eliminated.
intragrup dieliminasi.
Untuk tujuan manajemen, Grup dibagi menjadi For management purposes, the Group is
segmen operasi berdasarkan produk dan jasa organized into operating segments based on
yang dikelola secara independen oleh masing- their products and services which are
masing pengelola segmen yang bertanggung independently managed by the respective
jawab atas kinerja dari masing-masing segment managers responsible for the
segmen. Para pengelola segmen melaporkan performance of the respective segments under
secara langsung kepada manajemen their charge. The segment managers report
Perusahaan yang secara teratur mengkaji laba directly to the management who regularly
segmen sebagai dasar untuk mengalokasikan review the segment results in order to allocate
sumber daya ke masing-masing segmen dan resources to the segments and to assess the
untuk menilai kinerja segmen. Pengungkapan segment performance. Additional disclosures
tambahan pada masing-masing segmen on each of these segments are shown in Note
terdapat dalam Catatan 44, termasuk faktor 44, including the factors used to identify the
yang digunakan untuk mengidentifikasi reportable segments and the measurement
segmen yang dilaporkan dan dasar basis of segment information.
pengukuran informasi segmen.
z. Provisi z. Provisions
Provisi diakui ketika Grup memiliki kewajiban Provisions are recognized when the Group has
kini (bersifat hukum dan/atau konstruktif) yang a present obligation, (legal and/or constructive)
diakibatkan oleh peristiwa di masa lalu, dan as a result of a past event, and it is probable
besar kemungkinannya arus keluar sumber that an outflow of resources embodying
daya yang mengandung manfaat ekonomis economic benefits will be required to settle the
akan diperlukan untuk menyelesaikan obligation and a reliable estimate can be made
kewajiban dan estimasi yang andal mengenai of the amount of the obligation.
jumlah kewajiban tersebut dapat dibuat.
Provisi ditelaah pada setiap tanggal pelaporan Provisions are reviewed at each reporting date
dan disesuaikan untuk mencerminkan estimasi and adjusted to reflect the current best
terbaik yang paling kini. Jika arus keluar estimate. If it is no longer probable that an
sumber daya untuk menyelesaikan kewajiban outflow of resources embodying economic
kemungkinan besar tidak terjadi, maka provisi benefits will be required to settle the obligation,
dibatalkan. the provision is reversed.
aa. Laba (rugi) per Saham aa. Earnings (loss) per Share
Laba (rugi) per saham dasar dihitung dengan Basic earnings (loss) per share amounts are
membagi laba (rugi) tahun berjalan yang dapat computed by dividing the profit (loss) for the
diatribusikan kepada pemilik entitas induk year attributable to owners of the parent entity
dengan jumlah rata-rata tertimbang saham by the weighted average number of ordinary
biasa yang beredar pada periode yang shares outstanding during the period after
bersangkutan setelah memperhitungkan giving effect to the bonus element from right
dampak elemen bonus dari penawaran umum issue.
terbatas dengan hak memesan efek terlebih
dahulu.
69
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2025 Management Business Company Corporate
236 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
aa. Laba (rugi) per Saham (lanjutan) aa. Earnings (loss) per Share (continued)
Laba (rugi) bersih per saham dilusian dihitung Diluted earnings (loss) per share is calculated
dengan membagi laba (rugi) tahun berjalan by dividing the profit (loss) for the year
yang dapat diatribusikan kepada pemilik modal attributable to ordinary equity holders of the
biasa atas entitas induk dengan jumlah rata- parent entity by the weighted average number
rata tertimbang saham biasa yang beredar of ordinary shares outstanding during the year
pada tahun berjalan ditambah dengan rata- plus the weighted average number of ordinary
rata tertimbang saham biasa yang akan shares that would be issued on conversion of
diterbitkan konversi semua instrumen all the dilutive potential ordinary shares into
berpotensi saham biasa yang bersifat dilutif ordinary shares.
dengan menjadi saham biasa.
bb. Biaya Pinjaman bb. Borrowing Costs
Biaya pinjaman yang dapat diatribusikan Borrowing costs that are directly attributable to
langsung dengan perolehan, pembangunan the acquisition, construction and production of
atau pembuatan aset kualifikasian a qualifying asset are capitalized as part of the
dikapitalisasi sebagai bagian biaya perolehan cost of the related assets. Otherwise,
aset tersebut. Biaya pinjaman lainnya diakui borrowing costs are recognized as expenses
sebagai beban pada saat terjadi. Biaya when incurred. Borrowing costs consist of
pinjaman terdiri dari biaya bunga dan biaya interests and other financing charges that the
lain yang ditanggung oleh Grup sehubungan Group incurs in connection with the borrowing
dengan peminjaman dana. of funds.
cc. Aset Dimiliki untuk Dijual dan Operasi yang cc. Assets Held for Sale and Discontinued
Dihentikan Operations
Aset Dimiliki untuk Dijual Assets Held for Sale
Aset tidak lancar diklasifikasikan sebagai Non-current assets are classified as held for
dimiliki untuk dijual jika nilai tercatatnya akan sale if their carrying amounts will be recovered
dipulihkan terutama melalui transaksi principally through a sale transaction rather
penjualan daripada melalui pemakaian than through continuing use.
berlanjut.
Dalam hal ini, aset harus berada dalam For this to be the case, the asset must be
keadaan dapat dijual dengan syarat-syarat available for immediate sale in its present
yang biasa dan umum untuk penjualan aset condition subject only to terms that are usual
tersebut dan penjualannya harus sangat and customary for sales of such assets and its
mungkin terjadi. sale must be highly probable.
Aset dimiliki untuk dijual diukur pada nilai yang Assets held for sale are measured at the lower
lebih rendah antara nilai tercatat dan nilai of their carrying amount and fair value less
wajar setelah dikurangi biaya untuk menjual. costs to sell.
Aset tetap dan aset tak berwujud tidak Property, plant and equipment and intangible
didepresiasi atau diamortisasi setelah assets are not depreciated or amortized once
diklasifikasikan sebagai dimiliki untuk dijual. classified as held for sale.
Aset dan liabilitas diklasifikasikan sebagai Assets and liabilities classified as held for sale
tersedia untuk dijual disajikan terpisah sebagai are presented separately as current items in
bagian lancar pada laporan posisi keuangan the consolidated statements of financial
konsolidasian. position.
70
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 237
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
cc. Aset Dimiliki untuk Dijual dan Operasi yang cc. Assets Held for Sale and Discontinued
Dihentikan (lanjutan) Operations (continued)
Operasi yang Dihentikan Discontinued Operations
Operasi yang dihentikan disajikan terpisah dari Discontinued operations are excluded from the
hasil usaha operasi yang dilanjutkan dan results of continuing operations and presented
disajikan sebagai suatu jumlah tunggal laba as a single amount as profit or loss after tax
atau rugi setelah pajak dari operasi yang from discontinued operations in the
dihentikan dalam laporan laba rugi dan consolidated statements of profit or loss and
penghasilan komprehensif lain konsolidasian. other comprehensive income. The
Informasi komparatif periode sebelumnya comparative prior period information are re-
diklasifikasikan kembali untuk menyelesaikan presented to align with such presentation.
dengan penyajian tersebut.
Pengungkapan tambahan disajikan pada Additional disclosures are provided in Note 39.
Catatan 39. Catatan laporan keuangan lainnya All other notes to the financial statements
terutama merupakan jumlah untuk operasi mainly include amounts for continuing
yang dilanjutkan, kecuali disebutkan lain. operations, unless otherwise mentioned.
dd. Peristiwa Setelah Periode Pelaporan dd. Events After Reporting Period
Peristiwa setelah akhir periode yang Post period events that provide additional
memberikan informasi tambahan tentang information about the Group’s position at end
posisi Grup pada akhir periode pelaporan of reporting period (adjusting events) are
(peristiwa penyesuaian) dicerminkan dalam reflected in the consolidated financial
laporan keuangan konsolidasian. Peristiwa statements. Post year-end events that are not
setelah akhir tahun yang tidak disesuaikan adjusting events are disclosed in the notes to
diungkapkan dalam catatan atas laporan consolidated financial statements when
keuangan konsolidasian jika material. material.
ee. Perubahan Kebijakan Akuntansi ee. Changes in Accounting Principles
Grup menerapkan untuk pertama kalinya The Group applied for the first-time certain
beberapa standar dan amandemen tertentu standards and amendments, which are
yang efektif untuk periode tahunan yang effective for annual periods beginning on or
dimulai pada atau setelah 1 Januari 2025 after 1 January 2025 (unless otherwise
(kecuali dinyatakan lain). Grup tidak stated). The Group has not early adopted any
melakukan penerapan dini atas standar, other standard, interpretation or amendment
interpretasi, atau amandemen lain yang telah that has been issued but is not yet effective.
diterbitkan namun belum efektif.
Amandemen PSAK 221: Kekurangan Amendment of PSAK 221: Lack of
Ketertukaran Exchangeability
Amandemen tersebut menetapkan bagaimana The amendments specifies how an entity
entitas harus menilai apakah suatu mata uang should assess whether a currency is
dapat dipertukarkan serta bagaimana entitas exchangeable and how it should determine a
harus menentukan kurs spot ketika spot exchange rate when exchangeability is
ketertukaran (exchangeability) tidak tersedia. lacking. The amendments also require
Amandemen tersebut juga mensyaratkan disclosure of information that enables users of
pengungkapan informasi yang memungkinkan its financial statements to understand how the
pengguna laporan keuangan untuk memahami currency not being exchangeable into the
bagaimana ketidakmampuan mata uang other currency affects, or is expected to affect,
tersebut untuk dipertukarkan dengan mata the entity’s financial performance, financial
uang lainnya memengaruhi, atau diharapkan position and cash flows.
akan memengaruhi, kinerja keuangan, posisi
keuangan, dan arus kas entitas.
Amandemen ini tidak berdampak terhadap This amendment did not have any impact on
laporan keuangan konsolidasian Grup. the Group’s consolidated financial statements.
71
Page 240
2025 Management Business Company Corporate
238 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian Grup The preparation of the Group’s consolidated
mengharuskan manajemen untuk membuat financial statements requires management to make
pertimbangan, estimasi dan asumsi yang judgments, estimates and assumptions that affect
mempengaruhi jumlah pendapatan, beban, aset the reported amounts of revenues, expenses,
dan liabilitas yang dilaporkan, dan pengungkapan assets and liabilities, and the disclosure of
atas liabilitas kontinjensi, pada tanggal pelaporan. contingent liabilities, at the reporting date.
Ketidakpastian mengenai estimasi dan asumsi Uncertainty about these estimates and assumptions
tersebut dapat mengakibatkan penyesuaian could result in outcomes that require a material
material terhadap nilai tercatat dari aset dan adjustment to the carrying amount of the asset or
liabilitas di masa yang akan datang. liability affected in the future.
Pertimbangan Judgments
Pertimbangan berikut ini dibuat oleh manajemen The following judgments are made by management
dalam rangka penerapan kebijakan akuntansi Grup in the process of applying the Group’s accounting
yang memiliki pengaruh paling signifikan atas policies that have the most significant effects on the
jumlah yang diakui dalam laporan keuangan amounts recognized in the consolidated financial
konsolidasian: statements:
Mengevaluasi dampak periode opsi pada masa Evaluating the impact of option periods on lease
sewa - Grup sebagai penyewa terms - Group as lessee
Grup menentukan masa sewa sebagai periode The Group determines the lease term as the non-
sewa yang tidak dapat dibatalkan, dan juga periode cancellable term of the lease, together with any
yang dicakup oleh opsi untuk memperpanjang sewa periods covered by an option to extend the lease if
jika opsi cukup pasti untuk dieksekusi, atau periode it is reasonably certain to be exercised, or any
yang dicakup oleh opsi untuk menghentikan sewa periods covered by an option to terminate the lease,
jika opsi cukup pasti untuk tidak dieksekusi. if it is reasonably certain not to be exercised.
Untuk kontrak sewa yang memiliki opsi For any contracts with include extension and
perpanjangan dan penghentian, Grup menerapkan termination options, the Group applies judgment in
pertimbangan dalam mengevaluasi apakah cukup evaluating whether it is reasonably certain whether
pasti untuk mengeksekusi opsi perpanjangan atau or not to exercise the option to renew or terminate
penghentian sewa. Dengan kata lain, Grup the lease. That is, it considers all relevant factors
mempertimbangkan semua faktor relevan yang that create an economic incentive for it to exercise
menciptakan insentif ekonomi untuk melakukan either the renewal or termination. After the
perpanjangan atau penghentian. Setelah tanggal commencement date, the Group reassesses the
permulaan, Grup menilai ulang masa sewa jika lease term if there is a significant event or change
terdapat peristiwa atau perubahan signifikan dalam in circumstances that is within its control and affects
kondisi yang berada dalam pengendalian Grup dan its ability to exercise or not to exercise the option to
mempengaruhi kemampuan untuk mengeksekusi renew or to terminate. Further explanation are
atau untuk tidak mengeksekusi opsi perpanjangan provided in Note 24.
atau penghentian. Penjelasan lebih lanjut
diungkapkan pada Catatan 24.
Evaluasi atas subsewa Evaluation of sublease
Dalam mengimplementasikan dan menerapkan In implementing and applying PSAK 116, the matter
PSAK 116, membedakan antara operator dan of distinguishing between operators and joint
operasi bersama sebagai penyewa, termasuk operations as lessees, including sublease
pertimbangan adanya subsewa, merupakan hal considerations, has been deemed critical. It
yang sangat penting. Hal ini melibatkan tingkat involves a considerable degree of judgment with
pertimbangan yang cukup besar dengan dampak significant impact for the lease-related amounts
signifikan untuk jumlah sewa yang diakui sebagai recognized as assets and liabilities.
aset dan liabilitas.
72
Page 241
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 239
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Pajak Penghasilan Income Tax
Pertimbangan signifikan dilakukan dalam Significant judgment is involved in determining the
menentukan provisi atas pajak penghasilan badan. provision for corporate income tax. There are
Terdapat transaksi dan perhitungan tertentu yang certain transactions and computations for which the
penentuan pajak akhirnya tidak dapat ditentukan ultimate tax determination is uncertain in the
secara pasti dalam kegiatan usaha normal. Grup ordinary course of business. The Group recognizes
mengakui liabilitas atas pajak penghasilan badan liabilities for corporate income tax based on
berdasarkan estimasi apakah akan terdapat estimation of whether additional corporate income
tambahan pajak penghasilan badan yang akan tax will be due.
terutang.
Berdasarkan peraturan perpajakan yang berlaku Based on the tax regulations currently enacted, the
saat ini, manajemen mempertimbangkan apakah management judged if the amounts recorded under
jumlah yang tercatat dalam akun di atas dapat the above account are recoverable and refundable
dipulihkan dan direstitusi oleh Kantor Pajak. Nilai by the Tax Office. The carrying amount of the
tercatat atas tagihan dan keberatan/banding atas Group’s claims for tax refund and tax assessments
hasil pemeriksaan pajak Grup pada tanggal under objection/appeal as of December 31, 2025
31 Desember 2025 dan 2024 adalah masing- and 2024 amounting to US$24,946,153 and
masing sebesar AS$24.946.153 dan AS$6.397.832. US$6,397,832, respectively. Further explanations
Penjelasan lebih lanjut atas akun ini akan diberikan regarding this account are provided in Note 11.
pada Catatan 11.
Klasifikasi Aset dan Liabilitas Keuangan Classification of Financial Assets and Liabilities
Untuk menentukan kategori klasifikasi dan To determine the financial instruments classification
pengukuran instrumen keuangan, PSAK 109 and measurement category, PSAK 109 requires all
mengharuskan semua aset keuangan, kecuali financial assets, except equity instruments and
instrumen ekuitas dan derivatif, untuk dievaluasi derivatives, to be assessed based on a combination
berdasarkan kombinasi dari model bisnis entitas of the entity’s business model for managing the
untuk mengelola aset dan karakteristik arus kas assets and the instruments’ contractual cash flow
kontraktual instrumen. Klasifikasi instrumen characteristics. The classification of financial
keuangan pada saat pengakuan awal tergantung instruments at initial recognition depends on their
pada perjanjian kontraktual dan model bisnis untuk contractual terms and the business model for
mengelola instrumen tersebut. managing the instruments.
Grup menentukan model bisnis tersebut The Group determines its business model at the
menggunakan tingkat yang terbaik yang level that best reflects how it manages groups of
mencerminkan bagaimana perusahaan mengatur financial assets to achieve its business objective,
aset keuangan untuk mencapai tujuan bisnisnya, such that the risks that affect the performance of
hal tersebut mempengaruhi kinerja model bisnisnya the business model (and the financial assets held
(dan aset keuangan yang dikelola oleh model within that business model) and, in particular, the
bisnis) dan secara khusus, bagaimana risiko way those risks are managed. As a second step of
tersebut dikelola. Sebagai langkah selanjutnya dari its classification process, the Group assesses the
proses klasifikasi, Grup mengevaluasi perjanjian contractual terms of the financial asset to identify
kontraktual aset keuangan untuk menentukan whether they meet the SPPI test.
apakah mereka memenuhi persyaratan tes SPPI.
Klasifikasi aset dan liabilitas keuangan diungkapkan The classification of the financial assets and
pada Catatan 2s. liabilities are disclosed in Note 2s.
73
Page 242
2025 Management Business Company Corporate
240 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Pengaturan Bersama Joint Arrangements
Pertimbangan diperlukan untuk menentukan kapan Judgment is required to determine when the Group
Grup memiliki pengendalian bersama terhadap has joint control over an arrangement, which
sebuah pengaturan, yang memerlukan penilaian requires an assessment of the relevant activities
dari aktivitas yang relevan dan apabila keputusan and when the decisions in relation to those activities
sehubungan dengan aktivitas tersebut require unanimous consent.
mengharuskan persetujuan dengan suara bulat.
Grup menetapkan bahwa aktivitas relevan bagi The Group has determined that the relevant
Grup untuk pengaturan bersama adalah aktivitas activities for its joint arrangements are those
yang berhubungan dengan keputusan keuangan, relating to the financial, operational and capital
operasional dan modal dari pengaturan tersebut. decisions of the arrangement. The considerations
Pertimbangan-pertimbangan yang dibuat dalam made in determining joint control are similar to
menentukan pengendalian bersama adalah sama those necessary to determine control over
dengan penentuan pengendalian atas entitas anak. subsidiaries.
Pertimbangan juga diperlukan untuk menentukan Judgment is also required to classify a joint
klasifikasi suatu pengaturan bersama. arrangement. Classifying the arrangement requires
Pengklasifikasian tersebut mengharuskan Grup the Group to assess their rights and obligations
menilai hak dan kewajibannya yang timbul dari arising from the arrangement. Specifically, the
pengaturan bersama. Secara khusus, Grup Group considers:
mempertimbangkan:
• Struktur pengaturan bersama - apakah dibentuk • The structure of the joint arrangement - whether
melalui kendaraan terpisah; it is structured through a separate vehicle;
• Ketika pengaturan bersama dibentuk melalui • When the arrangement is structured through a
kendaraan terpisah, Grup juga separate vehicle, the Group also considers the
mempertimbangkan hak dan kewajiban para rights and obligations arising from:
pihak yang timbul dari:
- Bentuk hukum dari kendaraan terpisah; - The legal form of the separate vehicle;
- Persyaratan pengaturan kontraktual; dan - The terms of the contractual arrangement;
and
- Fakta dan keadaan lainnya, jika relevan. - Other relevant facts and circumstances.
Penilaian tersebut sering memerlukan This assessment often requires significant
pertimbangan yang signifikan. Kesimpulan yang judgment. A different conclusion about both joint
berbeda baik atas kesimpulan mengenai control and whether the arrangement is a joint
pengendalian bersama dan apakah suatu operation or a joint venture, may materially impact
pengaturan adalah sebuah operasi bersama atau the accounting treatment.
ventura bersama, dapat secara material
mempengaruhi perlakuan akuntansinya.
74
Page 243
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 241
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Penilaian Perjanjian Kontraktual Contractual Arrangement Assessment
Manajemen menggunakan pertimbangannya dalam The management exercises its judgment in
menentukan apakah perjanjian kontraktual dengan determining whether or not the contractual
PT Perusahaan Listrik Negara (Persero) (“PLN”), arrangements with PT Perusahaan Listrik Negara
PT PLN Batam, PT PLN (Persero) Wilayah (Persero) (“PLN”), PT PLN Batam, PT PLN
Sumatera Selatan, Jambi dan Bengkulu (“PLN (Persero) Wilayah Sumatera Selatan, Jambi dan
WS2JB”) dan PT Perusahaan Listrik Negara Bengkulu (“PLN WS2JB”) and PT Perusahaan
Distribusi Jawa Barat (“PLNDJB”) termasuk dalam Listrik Negara Distribusi Jawa Barat (“PLNDJB”) fall
ruang lingkup ISAK 112, “Perjanjian Konsesi Jasa”. within the scope of ISAK 112, “Service Concession
Berdasarkan evaluasi manajemen terhadap syarat Arrangements”. Based on management’s
dan ketentuan perjanjian, diputuskan bahwa suatu evaluation of the terms of the arrangement, it
perjanjian termasuk dalam ruang lingkup ISAK 112 determines that the arrangement is within the scope
jika memenuhi kriteria pengendalian dalam ISAK of ISAK 112 if it meets the control criteria set out in
112 sebagai berikut: ISAK 112 as follows:
• Pemberi konsesi mengendalikan atau • The grantor controls or regulates what services
meregulasi jasa apa yang harus diberikan oleh the operator must provide with the
operator dengan infrastruktur, kepada siapa infrastructure, to whom it must provide them,
jasa harus diberikan dan berapa harganya; dan and at what price; and
• Pemberi konsesi mengendalikan - melalui
kepemilikan, hak manfaat, atau bentuk lain - • The grantor controls - through ownership,
atas setiap kepentingan residu signifikan dalam beneficial entitlement or otherwise-any
infrastruktur pada akhir masa perjanjian. significant residual interest in the infrastructure
at the end of the term of the arrangement.
Dasar bagi Grup untuk mengakui konsesi aset The basis for the Group to recognize concession
keuangan telah disajikan pada Catatan 2l. financial assets has been disclosed in Note 2l.
Jika perjanjian tidak termasuk dalam ruang lingkup If the arrangement does not fall within ISAK 112,
ISAK 112, manajemen menggunakan the management also exercises its judgment in
pertimbangannya dalam menentukan apakah determining if the arrangement contains a lease
perjanjian mengandung suatu sewa dan lebih lanjut and further determines the classification of the
menentukan klasifikasi dari sewa tersebut. lease. Based on such evaluation, the management
Berdasarkan evaluasi, manajemen telah has determined that the arrangement with PLN
menentukan bahwa perjanjian dengan PLN tidak does not fall within the scope of ISAK 112 as the
termasuk dalam ruang lingkup ISAK 112 karena fulfillment of the arrangement is dependent on the
pemenuhan perjanjian bergantung pada use of a specific asset or assets (the asset) and the
penggunaan satu atau beberapa aset spesifik dan arrangement conveys a right to use the asset. The
perjanjian tersebut memberikan suatu hak untuk management classifies the lease as finance lease if
menggunakan aset tersebut. Manajemen based on management’s evaluation, the term of the
mengklasifikasikan sewa sebagai sewa arrangement constitutes a substantial portion of the
pembiayaan karena berdasarkan evaluasi economic life of the asset, and at the inception of
manajemen, syarat perjanjian mencakup sebagian the lease, the present value of the minimum lease
besar umur ekonomi aset dan pada awal sewa, nilai payments amounts to substantially the fair value of
kini dari jumlah pembayaran sewa minimum secara the leased assets.
substansial mendekati nilai wajar aset sewaan.
75
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2025 Management Business Company Corporate
242 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi Estimates and Assumptions
Asumsi utama masa depan dan sumber utama The key assumptions concerning the future and
ketidakpastian estimasi lain pada tanggal pelaporan other key sources of estimation uncertainty at the
yang memiliki risiko signifikan yang mungkin reporting date that have a significant risk of causing
mengakibatkan penyesuaian yang material a material adjustment to the carrying amounts of
terhadap nilai tercatat aset dan liabilitas untuk assets and liabilities within the next financial period
periode berikutnya diungkapkan di bawah ini. Grup are disclosed below. The Group based its estimates
mendasarkan estimasi dan asumsi pada parameter and assumptions on parameters available when the
yang tersedia pada saat laporan keuangan consolidated financial statements were prepared.
konsolidasian disusun. Asumsi dan situasi Existing circumstances and assumptions about
mengenai perkembangan masa depan tersebut future developments may change due to market
mungkin berubah akibat perubahan pasar atau changes or circumstances arising beyond the
situasi yang timbul di luar kendali Grup. Perubahan control of the Group. Such changes in the
asumsi tersebut tecermin ketika terjadi. assumptions are reflected when they occur.
Alokasi Biaya Perolehan dan Penurunan Nilai Purchase Price Allocation and Goodwill Impairment
Goodwill
Akuntansi akuisisi mengharuskan penggunaan Acquisition accounting requires extensive use of
estimasi akuntansi secara ekstensif dalam accounting estimates to allocate the purchase price
mengalokasikan biaya perolehan ke nilai pasar to the reliable fair market values of the assets and
wajar yang andal atas aset dan liabilitas yang liabilities purchased, including intangible assets.
diakuisisi, termasuk aset tak berwujud. Sesuai Under PSAK 103, goodwill is not amortized and is
PSAK 103, goodwill tidak diamortisasi dan diuji subject to an annual impairment testing. Further
untuk penurunan nilai setiap tahun. Penjelasan details are disclosed in Notes 19 and 48.
lebih lanjut diungkapkan pada Catatan 19 dan 48.
Penurunan Nilai Aset Non-Keuangan Impairment of Non-Financial Assets
Grup mengevaluasi apakah terdapat indikator The Group assesses whether there are any
penurunan nilai untuk semua aset non-keuangan indicators of impairment for all non-financial assets
(kecuali goodwill, yang dievaluasi secara tahunan (except goodwill, which is assessed annually
tanpa memperhitungkan ada tidaknya indikator) regardless of indicators) at each reporting date.
pada setiap tanggal pelaporan. Ketika terdapat When an indicator of impairment exists, a formal
indikator penurunan nilai, estimasi formal atas estimate of the recoverable amount is made, which
jumlah terpulihkan dilakukan, yang merupakan considered to be the higher of the fair value less
jumlah yang lebih tinggi antara nilai wajarnya cost to sell and value in use.
dikurangi biaya pelepasan dengan nilai pakainya.
Penilaian tersebut memerlukan penggunaan The assessments require the use of estimates and
estimasi dan asumsi seperti harga minyak jangka assumptions such as long-term oil prices, discount
panjang, tingkat diskonto, biaya operasional, rates, operating costs, future capital requirements,
kebutuhan modal masa depan, biaya penutupan, decommissioning costs, exploration potential,
potensi eksplorasi, cadangan dan kinerja reserves and operating performance (which
operasional (termasuk volume produksi dan includes production and sales volumes). These
penjualan). Estimasi dan asumsi ini terpengaruh estimates and assumptions are subject to risk and
oleh risiko dan ketidakpastian. Oleh karena itu, uncertainty. Therefore, there is possibility that
terdapat kemungkinan bahwa perubahan keadaan changes in circumstances will impact these
dapat mempengaruhi proyeksi tersebut, yang akan projections, which may impact the recoverable
berpengaruh terhadap jumlah terpulihkan. amount.
Asumsi-asumsi utama yang digunakan untuk The key assumptions used to determine the
menentukan jumlah terpulihkan untuk beberapa recoverable amount for the different Cash
Unit Penghasil Kas diungkapkan pada Catatan 18. Generating Units are disclosed in Note 18.
76
Page 245
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 243
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Imbalan Pensiun dan Imbalan Pasca Kerja Lainnya Pension and Other Post-Employment Benefits
Penentuan kewajiban dan biaya pensiun dan The determination of the Group’s obligations and
imbalan pasca kerja lainnya Grup bergantung pada cost for pension and other post-employment
pemilihan asumsi yang digunakan oleh aktuaris benefits is dependent on the assumptions used by
independen. Asumsi tersebut meliputi tingkat the independent actuaries. These assumptions
diskonto, tingkat kenaikan gaji tahunan, tingkat include discount rates, future annual salary
pengunduran diri karyawan tahunan, tingkat increases, annual employee turn-over rate,
kecacatan, umur pensiun dan tingkat kematian. disability rate, retirement age and mortality rate.
Grup berkeyakinan bahwa asumsi tersebut adalah While the Group believes that its assumptions are
wajar dan sesuai, namun dikarenakan sifat jangka reasonable and appropriate, due to the long-term
panjang dari liabilitas ini, estimasi tersebut adalah nature of these obligations, such estimates are
subyek dari ketidakpastian yang signifikan. subject to significant uncertainty. Further details of
Penjelasan lebih rinci diungkapkan dalam Catatan the Group’s long-term employee benefit liabilities
42. are disclosed in Note 42.
Aset Pajak Tangguhan Deferred Tax Assets
Aset pajak tangguhan diakui atas seluruh rugi fiskal Deferred tax assets are recognized for all unused
dan beda temporer yang dapat dikurangkan yang tax losses and deductable temporary difference to
belum digunakan sepanjang besar the extent that it is probable that taxable profit will
kemungkinannya bahwa penghasilan kena pajak be available against which the tax losses and
akan tersedia sehingga rugi fiskal tersebut dan deductible temporary difference can be utilized.
beda temporer yang dapat dikurangkan dapat Significant estimation by management are required
digunakan. Estimasi signifikan oleh manajemen to determine the amount of deferred tax assets that
diperlukan dalam menentukan jumlah aset pajak can be recognized, based upon the likely timing and
tangguhan yang dapat diakui, berdasarkan saat the level of future taxable profits, together with
penggunaan dan tingkat penghasilan kena pajak future tax planning strategies.
disertai dengan strategi perencanaan pajak masa
depan.
Pada tanggal 31 Desember 2025 dan 2024, Grup As of December 31, 2025 and 2024, the Group has
memiliki aset pajak tangguhan yang tidak diakui. deferred tax assets that have not been recognized.
Penjelasan lebih rinci diungkapkan dalam Catatan Further details are disclosed in Note 38.
38.
Liabilitas Pembongkaran Aset dan Restorasi Area Asset Abandonment and Site Restoration
Obligations
Grup mengakui provisi untuk liabilitas The Group has recognized provision for asset
pembongkaran aset dan restorasi area terkait abandonment and site restoration obligations
dengan sumur minyak dan gas bumi, fasilitas dan associated with its oil and gas wells, facilities and
infrastruktur terkait. Dalam menentukan nilai provisi, infrastructures. In determining the amount of the
asumsi dan estimasi yang diperlukan adalah tingkat provision, assumptions and estimations are
diskonto dan biaya yang diharapkan untuk required in relation to discount rates and the
membongkar dan memindahkan semua peralatan expected cost to dismantle and remove all the
dari daerah pengeboran dan restorasi area. structures from the site and restore the site. Further
Penjelasan lebih rinci diungkapkan dalam details are disclosed in Note 51.
Catatan 51.
77
Page 246
2025 Management Business Company Corporate
244 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Estimasi Cadangan Reserve Estimates
Cadangan minyak dan gas bumi terbukti adalah Proved oil and gas reserves are the estimated
perkiraan jumlah minyak mentah dan gas alam quantities of crude oil and natural gas which
yang berdasarkan data geologis dan teknis dapat geological and engineering data demonstrate with
diambil dengan tingkat kepastian yang memadai di reasonable certainty to be recoverable in future
tahun-tahun mendatang dari cadangan yang ada years from known reservoirs under existing
berdasarkan kondisi ekonomi dan operasi yang economic and operating conditions, for example
sekarang ada, misalnya terkait dengan harga dan price and cost on the date the estimate was made.
biaya pada tanggal estimasi tersebut dibuat. Proved reserves include:
Cadangan terbukti meliputi:
(i) cadangan terbukti dikembangkan: jumlah (i) proved developed reserves: amounts of
hidrokarbon yang diharapkan akan diambil hydrocarbons that are expected to be
melalui metode sumur, fasilitas, dan operasi retrieved through existing wells, facilities and
yang sekarang ada; dan operating methods; and
(ii) cadangan terbukti yang belum dikembangkan: (ii) undeveloped proved reserves: amounts of
jumlah hidrokarbon yang diharapkan dapat hydrocarbons that are expected to be
diambil setelah adanya pengeboran, fasilitas retrieved following new drilling, facilities and
dan metode operasi baru. operating methods.
Akurasi dari cadangan terbukti tergantung pada The accuracy of proved reserve estimates depends
sejumlah faktor, asumsi dan variabel seperti: on a number of factors, assumptions and variables
kualitas data geologi, teknis dan ekonomi yang such as: the quality of available geological,
tersedia beserta interpretasi dan pertimbangan technical and economic data available along with
terkait, hasil pengeboran, pengujian dan produksi related interpretation and judgment, results of
setelah tanggal estimasi, kinerja produksi reservoir, drilling, testing and production after the date of the
teknik produksi, proyeksi tingkat produksi di masa estimates, the production performance of the
mendatang, estimasi besaran biaya dan waktu reservoirs, production techniques, projecting future
terjadinya pengeluaran pengembangan, rates of production, the anticipated cost and timing
ketersediaan pasar komersial, harga komoditi yang of development expenditures, the availability for
diharapkan, dan nilai tukar. commercial market, anticipated commodity prices,
and exchange rates.
Karena asumsi ekonomis yang digunakan untuk As the economic assumptions used to estimate
mengestimasi cadangan berubah dari waktu ke reserves change from year to year, and additional
waktu dan tambahan data geologi yang dihasilkan geological data are generated during the course of
selama operasi, estimasi cadangan dapat berubah operations, estimates of reserves may change from
dari waktu ke waktu. Perubahan cadangan yang year to year. Changes in reported reserves may
dilaporkan dapat mempengaruhi hasil dan posisi affect the Group’s financial results and financial
keuangan Grup dalam berbagai cara, di antaranya: position in a number of ways, including:
- Penyusutan dan amortisasi yang ditentukan - Depreciation and amortization which are
berdasarkan unit produksi, atau jika masa determined on a unit of production basis, or where
manfaat ekonomi sumur aset berubah. the useful economic lives of assets change.
- Provisi biaya pembongkaran, restorasi lokasi aset - Decommissioning, site restoration and
dan hal-hal yang berkaitan dengan lingkungan environmental provision may change where
dapat berubah apabila terjadi perubahan dalam changes in estimated reserves that affect
perkiraan cadangan yang mempengaruhi expectations about the timing or cost of these
ekspektasi tentang waktu atau biaya kegiatan ini. activities.
- Nilai tercatat aset/liabilitas pajak tangguhan dapat - The carrying value of deferred tax assets/liabilities
berubah karena perubahan estimasi pemulihan may change due to changes in estimation of the
manfaat pajak. likely recovery of the tax benefits.
78
Page 247
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 245
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Unit produksi (UOP) depresiasi aset minyak dan Units of production (UOP) depreciation of oil and
gas bumi gas properties
Aset minyak dan gas bumi didepresiasi Oil and gas properties are depreciated using the
menggunakan metode unit produksi (UOP) units of production (UOP) method over total proved
berdasarkan cadangan terbukti dikembangkan dan developed and undeveloped proved reserves. This
cadangan terbukti belum dikembangkan. Hal ini results in a depreciation/amortization charged
menghasilkan depresiasi/amortisasi yang proportional to the depletion of the anticipated
dibebankan proporsional dengan deplesi dari sisa remaining production from the block/asset.
produksi blok/aset yang diantisipasi.
Umur setiap aset, yang dinilai tiap tahun, The life of each item, which is assessed at least
memperhitungakan batas umur fisik aset dan annually, has regard to both its physical life
penilaian kini jumlah terpulihkan ekonomis dari blok limitations and present assessments of
dimana aset berada. Perhitungan ini memerlukan economically recoverable reserves of the block at
estimasi dan asumsi, termasuk jumlah cadangan which the asset is located. These calculations
yang dapat dipulihkan dan estimasi belanja modal require the use of estimates and assumptions,
masa depan. Perhitungan tarif UOP depresiasi dan including the amount of recoverable reserves and
amortisasi akan berdampak bila produksi aktual di estimates of future capital expenditure. The
masa depan berbeda dengan perkiraan masa kini calculation of the UOP rate of depreciation and
berdasarkan jumlah cadangan terbukti, atau amortization will be impacted to the extent that
perubahan estimasi belanja modal masa depan. actual production in the future is different from
current forecast production based on total proved
reserves, or future capital expenditure estimates
change.
4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
2025 2024
Kas 64.845 53.218 Cash on hand
Bank Cash in banks
Pihak berelasi Related party
Rupiah Rupiah
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Indonesia
1906 Tbk 1) – 2.405.799 1906 Tbk 1)
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Indonesia
1906 Tbk 1) – 3.054.307 1906 Tbk 1)
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 98.303.406 47.204.899 PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 7.967.144 5.751.711 (Persero) Tbk
CITIBANK N.A. 7.053.203 1.152.464 CITIBANK N.A.
PT Bank Syariah Indonesia Tbk 4.639.341 2.353.524 PT Bank Syariah Indonesia Tbk
PT Bank Maybank Indonesia Tbk 1.318.664 9.611.666 PT Bank Maybank Indonesia Tbk
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Indonesia
1906 Tbk 1) 1.101.093 – 1906 Tbk 1)
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 546.903 1.371.548 (Persero) Tbk
Lain-lain (masing-masing di bawah
AS$500.000) 1.044.253 198.946 Others (each below US$500,000)
79
Page 248
2025 Management Business Company Corporate
246 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)
2025 2024
Bank (lanjutan) Cash in banks (continued)
Pihak ketiga (lanjutan) Third parties (continued)
Dolar Amerika Serikat United States Dollar
PT Bank Mandiri (Persero) Tbk 86.916.476 95.756.518 PT Bank Mandiri (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 60.713.468 4.831 (Persero) Tbk
Australia and New Zealand Banking Australia and New Zealand Banking
Group Ltd 55.545.361 84.300.145 Group Ltd
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 32.738.294 32.203.493 (Persero) Tbk
Standard Chartered Bank 26.955.393 37.140.030 Standard Chartered Bank
MUFG Bank Ltd 14.972.283 1.398.182 MUFG Bank Ltd
PT Bank QNB Indonesia Tbk 11.950.101 3.436.282 PT Bank QNB Indonesia Tbk
The Hongkong and Shanghai The Hongkong and Shanghai
Banking Corporation Ltd 9.562.802 12.004.365 Banking Corporation Ltd
CITIBANK N.A. 5.947.582 4.775.126 CITIBANK N.A.
PT Bank DBS Indonesia 3.459.762 5.906.863 PT Bank DBS Indonesia
Alizz Islamic Bank 2.434.294 6.787.217 Alizz Islamic Bank
JP Morgan 1.814.230 – JP Morgan
PT Bank Syariah Indonesia Tbk 893.325 622.027 PT Bank Syariah Indonesia Tbk
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Indonesia
1906 Tbk 1) 478.474 – 1906 Tbk 1)
ING Bank N.V. 251.097 51.562.076 ING Bank N.V.
Lain-lain (masing-masing di bawah
AS$500.000) 579.769 504.043 Others (each below US$500,000)
Dolar Singapura Singapore Dollar
DBS Bank Singapore Ltd 919.736 713.507 DBS Bank Singapore Ltd
CITIBANK N.A. 282.511 746.047 CITIBANK N.A.
Lain-lain (masing-masing di bawah
AS$500.000) 70.156 – Others (each below US$500,000)
Riyal Oman Omani rial
Alizz Islamic Bank 1.032.064 1.344.278 Alizz Islamic Bank
Muscat Bank 269.291 103.514 Muscat Bank
Baht Thailand Thailand Baht
The Hongkong and Shanghai The Hongkong and Shanghai
Banking Corporation Ltd 1.412.834 3.921.612 Banking Corporation Ltd
Standard Chartered Bank 7.511 7.204 Standard Chartered Bank
Mata uang asing lainnya 420.753 185.325 Other foreign currencies
Sub-jumlah 441.601.574 416.527.549 Sub-total
80
Page 249
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 247
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)
2025 2024
Setara kas Cash equivalents
Deposito berjangka Time deposits
Pihak berelasi Related party
Rupiah Rupiah
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Indonesia
1906 Tbk 1) – 20.758.569 1906 Tbk 1)
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara Indonesia
1906 Tbk 1) – 41.000.000 1906 Tbk 1)
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 15.179.955 1.222.003 PT Bank Mandiri (Persero) Tbk
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk 1) 1.430.104 – Indonesia 1906 Tbk 1)
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 1.191.753 1.918.079 (Persero) Tbk
PT Bank Syariah Indonesia Tbk 595.877 – PT Bank Syariah Indonesia Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk – 1.237.471 (Persero) Tbk
Dolar Amerika Serikat United States Dollar
PT Bank Mandiri (Persero) Tbk 45.250.000 35.250.000 PT Bank Mandiri (Persero) Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
(Persero) Tbk 23.900.000 – (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 21.000.000 3.500.000 (Persero) Tbk
Australia and New Zealand Banking Australia and New Zealand Banking
Group Ltd 18.100.000 12.950.000 Group Ltd
Bank of New York Mellon 445.366 51.766.975 Bank of New York Mellon
The Hongkong and Shanghai The Hongkong and Shanghai
Banking Corporation Ltd 347.047 50.840.584 Banking Corporation Ltd
Sub-jumlah 127.440.102 220.443.681 Sub-total
Jumlah 569.106.521 637.024.448 Total
1) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk tidak lagi 1) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk ceased to be a related
diklasifikasikan sebagai pihak berelasi bagi Grup. party of the Grup.
Rekening di bank memiliki tingkat bunga Accounts in banks earn interest at floating rates
mengambang sesuai dengan tingkat penawaran based on the offered rate from each bank.
pada masing-masing bank.
2025 2024
Tingkat bunga per tahun Interest rates per annum
Deposito berjangka Time deposits
Rupiah 2,25% - 7,20% 2,25% - 6,5% Rupiah
Dolar Amerika Serikat 4,00% - 5,50% 1,00% - 5,60% United States Dollar
Tidak ada kas dan setara kas yang dijaminkan There are no cash and cash equivalents that are
sebagai jaminan pada tanggal 31 Desember 2025 pledged as collateral as of December 31, 2025 and
dan 2024. 2024.
Kas dan setara kas termasuk kas yang ditempatkan Cash and cash equivalents includes the cash
ke dalam rekening khusus devisa hasil ekspor dari placed in a special account for foreign exchange
sumber daya alam sesuai dengan Peraturan export proceeds from natural resources in
Pemerintah No. 36 Tahun 2023. accordance with the Government Regulation No. 36
of 2023.
81
Page 250
2025 Management Business Company Corporate
248 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
5. INVESTASI JANGKA PENDEK 5. SHORT-TERM INVESTMENTS
Akun ini terdiri dari: This account consists of:
2025 2024
Surat berharga yang diperdagangkan Marketable securities-for trading
Dolar Amerika Serikat United States Dollar
Dana kelolaan bank dan institusi Managed funds by banks and
keuangan – 11.025.523 financial institution
Dana kelolaan bank dan institusi keuangan terdiri Investments in managed funds by banks and
dari saham-saham perusahaan publik, pendapatan financial institution consists of shares of listed
tetap/surat utang, pasar uang dan instrumen companies, fixed income/notes, money market and
keuangan lainnya. other financial instruments.
Pada 29 Desember 2025, Perusahaan telah On December 29, 2025, the Company fully settled
menyelesaikan seluruh investasi jangka pendeknya its short-term investments as part of its cash
sebagai bagian dari strategi pengelolaan kas. management strategy. The Company recognized
Perusahaan mengakui kerugian dari perubahan loss on fair value of US$2.5 million from the
nilai wajar sebesar sebesar AS$2,5 juta atas disposal of short-term investment in 2025.
pelepasan investasi jangka pendek pada tahun
2025.
6. PIUTANG USAHA 6. TRADE RECEIVABLES
Rincian dari akun ini adalah sebagai berikut: The details of this account are as follows:
a. Berdasarkan pelanggan a. By customer
2025 2024
Pihak berelasi Related parties
PT Api Metra Graha 23.483 8.442 PT Api Metra Graha
Sub-jumlah 23.483 8.442 Sub-total
Pihak ketiga Third parties
Pelanggan luar negeri 212.147.256 183.287.077 Foreign customers
Pelanggan dalam negeri 172.961.612 178.673.554 Local customers
Sub-jumlah 385.108.868 361.960.631 Sub-total
Aset kontrak 8.502.742 – Contract asset
Akumulasi penyisihan kerugian Accumulated provision for expected
kredit ekspektasian (692.286) (657.216) credit losses
Neto 392.919.324 361.303.415 Net
Jumlah 392.942.807 361.311.857 Total
Pada tanggal 31 Desember 2025, aset kontrak As of December 31, 2025, contract asset
merupakan akumulasi biaya mobilisasi kontrak represent the unamortised accumulated
O&M Timor di Grup yang belum diamortisasi dan mobilization costs O&M Timor in the Group and
pendapatan yang belum ditagih atas pendapatan unbilled revenue for incentive fee based on
insentif berdasarkan pencapaian kinerja annual operational performance.
operasional tahunan.
82
Page 251
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 249
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)
b. Berdasarkan umur b. By aging category
2025 2024
Lancar dan tidak mengalami
penurunan nilai 371.726.105 315.909.615 Neither past due nor impaired
Telah jatuh tempo dan tidak
mengalami penurunan nilai: Past due and not impaired:
1 - 30 hari 9.300.317 22.375.108 1 - 30 days
31 - 60 hari 215.038 5.367.493 31 - 60 days
61 - 90 hari 1.614.286 4.400.942 61 - 90 days
91 - 120 hari 929.622 2.450.163 91 - 120 days
Lebih dari 120 hari 9.160.439 10.808.536 More than 120 days
Telah jatuh tempo dan mengalami
penurunan nilai: Past due and impaired:
Lebih dari 120 hari 689.286 657.216 More than 120 days
Jumlah 393.635.093 361.969.073 Total
Akumulasi penyisihan kerugian kredit Accumulated provision for expected
ekspektasian (692.286) (657.216) credit losses
Neto 392.942.807 361.311.857 Net
Piutang usaha tidak dikenakan bunga dan Trade receivables are non-interest bearing and
umumnya dikenakan syarat pembayaran generally on 30 to 35 days term of payment.
selama 30 sampai dengan 35 hari.
c. Berdasarkan mata uang c. By currency
2025 2024
Dolar Amerika Serikat 372.014.446 343.711.231 United States Dollar
Rupiah 21.620.647 18.257.842 Rupiah
Jumlah 393.635.093 361.969.073 Total
Akumulasi penyisihan kerugian Accumulated provision for expected
kredit ekspektasian (692.286) (657.216) credit losses
Neto 392.942.807 361.311.857 Net
d. Akumulasi penyisihan kerugian kredit d. Accumulated provision for expected credit
ekspektasian losses
Perubahan dalam penyisihan kerugian kredit The changes in the provision for expected credit
ekspektasian adalah sebagai berikut: losses are as follows:
2025 2024
Saldo awal tahun 657.216 666.588 Balance at beginning of year
Penyisihan selama tahun berjalan 38.910 (9.372) Provision during the year
Pembalikan selama tahun berjalan (3.725) – Reversal of provision during the year
Selisih kurs (115) – Foreign exchange differences
Saldo akhir tahun 692.286 657.216 Balance at end of year
83
Page 252
2025 Management Business Company Corporate
250 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)
d. Akumulasi penyisihan kerugian kredit d. Accumulated provision for expected credit
ekspektasian (lanjutan) losses (continued)
Tabel di bawah ini menunjukkan kualitas kredit The table below shows the credit quality and the
dan eksposur maksimum terhadap risiko kredit maximum exposure to credit risk based on the
berdasarkan peringkat risiko kredit pelanggan customers credit risk rating from published
dari lembaga pemeringkat yang dipublikasikan rating agencies as of December 31, 2025 and
per 31 Desember 2025 dan 2024: 2024:
Tingkat kerugian kredit
ekspektasian/ Kerugian kredit
Expected credit loss rate ekspektasian/
2025 range Expected credit loss 2025
Piutang usaha : Trade receivables:
Pengelompokan Performing bucket
Tingkat tinggi 0,001%-0,026% 6.420 High grade
Tingkat standar 0,064%-0,110% 268.430 Standard grade
Tingkat rendah – – Low grade
Tidak dikelompokkan Non-performing bucket
Mengalami penurunan
nilai secara individual 100% 417.436 Individually impaired
Jumlah 692.286 Total
Tingkat kerugian kredit
ekspektasian/ Kerugian kredit
Expected credit loss rate ekspektasian/
2024 range Expected credit loss 2024
Piutang usaha : Trade receivables:
Pengelompokan Performing bucket
Tingkat tinggi 0,001% - 0,026% 9.065 High grade
Tingkat standar 0,066% - 0,219% 295.682 Standard grade
Tingkat rendah – – Low grade
Tidak dikelompokkan Non-performing bucket
Mengalami penurunan
nilai secara individual 100% 352.469 Individually impaired
Jumlah 657.216 Total
Piutang usaha dari pelanggan tertentu Trade receivables from certain customers are
dijaminkan sebagai jaminan untuk pinjaman pledged as collaterals for several bank loans
bank (Catatan 28). (Note 28).
Grup telah menerapkan metode yang The Group applies the simplified approach to
disederhanakan untuk menghitung kerugian calculate for expected credit losses as
kredit ekspektasian sesuai dengan PSAK 109 prescribed by PSAK 109, which permits the use
yang mengizinkan penggunaan cadangan of the lifetime expected loss provision for all
kerugian ekspektasian seumur hidup untuk trade receivables. To measure the expected
seluruh piutang usaha. Untuk mengukur credit losses, trade receivables have been
kerugian kredit ekspektasian, piutang usaha grouped based on customer credit rating.
telah dikelompokkan berdasarkan peringkat
kredit pelanggan.
Manajemen berkeyakinan bahwa penyisihan The management believes that the provisions
kerugian kredit ekspektasian cukup untuk for expected credit losses are sufficient to cover
menutup kemungkinan kerugian atas losses from impairment of such receivables.
penurunan nilai piutang terkait.
84
Page 253
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 251
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
7. PIUTANG LAIN-LAIN 7. OTHER RECEIVABLES
Akun ini terdiri dari: This account consists of:
a. Berdasarkan jenis a. By party/nature
2025 2024
Pihak berelasi Related parties
PT Medco Daya Natuna 103.883.363 54.692.852 PT Medco Daya Natuna
PT Medco Daya Makmur 26.800.395 28.267.514 PT Medco Daya Makmur
PT Bahtera Daya Makmur 22.655.616 16.499.829 PT Bahtera Daya Makmur
Pacific Medco Solar Energy Pte Ltd 4.271.045 3.880.143 Pacific Medco Solar Energy Pte Ltd
PT Medco Daya Energi Nusantara 798.597 1.440.036 PT Medco Daya Energi Nusantara
PT Api Metra Graha 196.034 196.034 PT Api Metra Graha
PT Medco Daya Sentosa 164.396 – PT Medco Daya Sentosa
PT Medco Daya Abadi Lestari – 4.680.807 PT Medco Daya Abadi Lestari
Jumlah 158.769.446 109.657.215 Total
Bagian jangka panjang 681.428 502.193 Long-term portion
Bagian yang jatuh tempo dalam
satu tahun 158.088.018 109.155.022 Current portion
Pihak ketiga Third parties
Pajak Pertambahan Nilai (PPN) yang Reimbursable Value Added Tax
dapat ditagihkan 94.554.444 91.677.569 (VAT)
Piutang Operasi Bersama 39.943.784 36.933.449 Receivables from Joint Operations
Piutang underlifting 25.720.543 29.276.329 Underlifting receivable
Piutang atas uang muka 17.641.640 12.428.664 Advance receivables
Pinjaman karyawan 8.120.170 6.234.387 Loans to employees
Piutang bunga 3.177.993 3.098.181 Interest receivables
Lain-lain (masing-masing dibawah
AS$2.000.000) 1.564.120 5.890.907 Others (each below US$2,000,000)
Jumlah 190.722.694 185.539.486 Total
Bagian jangka panjang 66.109.670 63.340.765 Long-term portion
Akumulasi penyisihan kerugian kredit Accumulated provision for expected
ekspektasian (46.801.455) (48.028.483) credit losses
Bagian jangka panjang - neto 19.308.215 15.312.282 Long-term portion - net
Bagian yang jatuh tempo dalam satu
tahun 124.613.024 122.198.721 Current portion
Akumulasi penyisihan kerugian kredit Accumulated provision for expected
ekspektasian (3.438.370) (1.265.412) credit losses
Bagian yang jatuh tempo dalam
satu tahun - neto 121.174.654 120.933.309 Current portion - net
85
Page 254
2025 Management Business Company Corporate
252 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
7. PIUTANG LAIN-LAIN (lanjutan) 7. OTHER RECEIVABLES (continued)
b. Berdasarkan mata uang b. By currency
2025 2024
Dolar Amerika Serikat 235.736.878 185.469.689 United States Dollar
Rupiah 108.578.903 105.319.806 Rupiah
Baht Thailand 3.105.916 2.486.609 Thailand Baht
Dolar Singapura 1.401.991 1.327.631 Singapore Dollar
Euro 668.452 592.966 Euro
Jumlah 349.492.140 295.196.701 Total
Bagian jangka panjang 66.791.098 63.842.958 Long-term portion
Akumulasi penyisihan kerugian Accumulated provision for expected
kredit ekspektasian (46.801.455) (48.028.483) credit losses
Bagian jangka panjang - neto 19.989.643 15.814.475 Long-term portion - net
Bagian yang jatuh tempo dalam satu
tahun 282.701.042 231.353.743 Current portion
Akumulasi penyisihan kerugian Accumulated provision for expected
kredit ekspektasian (3.438.370) (1.265.412) credit losses
Bagian yang jatuh tempo dalam
satu tahun - neto 279.262.672 230.088.331 Curent portion - net
c. Akumulasi penyisihan kerugian kredit c. Accumulated provision for expected credit
ekspektasian losses
2025 2024
Saldo awal tahun 49.293.895 49.067.290 Balance at beginning of year
Penambahan penyisihan selama
tahun berjalan 1.036.595 511.179 Provision during the year
Penghapusan penyisihan selama
tahun berjalan – (284.574) Write-off during the year
Selisih kurs (90.665) – Foreign exchange differences
Saldo akhir periode/tahun 50.239.825 49.293.895 Balance at end of period/year
Tabel di bawah ini menunjukkan kualitas kredit The table below shows the credit quality and the
dan eksposur maksimum terhadap risiko kredit maximum exposure to credit risk based on the
berdasarkan peringkat risiko kredit pelanggan customers credit risk rating from published
dari lembaga pemeringkat yang dipublikasikan rating agencies as of December 31, 2025 and
per 31 Desember 2025 dan 2024: 2024:
Tingkat kerugian kredit
ekspektasian/ Kerugian kredit
Expected credit loss rate ekspektasian/
2025 range Expected credit loss 2025
Piutang lain-lain: Other receivables:
Pengelompokan Performing bucket
Tingkat tinggi – – High grade
Tingkat standar 0,065%-0,532% 247.351 Standard grade
Tingkat rendah – – Low grade
Tidak dikelompokkan Non-performing bucket
Mengalami penurunan
nilai secara individual 100% 49.992.474 Individually impaired
Jumlah 50.239.825 Total
86
Page 255
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 253
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
7. PIUTANG LAIN-LAIN (lanjutan) 7. OTHER RECEIVABLES (continued)
c. Akumulasi penyisihan kerugian kredit c. Accumulated provision for expected credit
ekspektasian (lanjutan) losses (continued)
Tingkat kerugian kredit
ekspektasian/ Kerugian kredit
Expected credit loss rate ekspektasian/
2024 range Expected credit loss 2024
Piutang lain-lain: Other receivables:
Pengelompokan Performing bucket
Tingkat tinggi 0,017%-0,017% 12 High grade
Tingkat standar 0,039%-0,114% 186.871 Standard grade
Tingkat rendah – – Low grade
Tidak dikelompokkan Non-performing bucket
Mengalami penurunan
nilai secara individual 100% 49.107.012 Individually impaired
Jumlah 49.293.895 Total
Pihak berelasi Related parties
a. Piutang dari PT Medco Daya Natuna (“MDN”), a. Receivables from PT Medco Daya Natuna
PT Medco Daya Makmur (“MDM”), PT Bahtera (“MDN”), PT Medco Daya Makmur (“MDM”),
Daya Makmur (“BDM”) dan PT Medco Daya PT Bahtera Daya Makmur (“BDM”) and PT
Energi Nusantara (“MDEN”) merupakan Medco Daya Energi Natuna (“MDEN”) are
piutang operasi bersama masing-masing di receivables from joint operations in South
Laut Natuna Selatan Blok B, Blok Sumatera Natuna Sea Block B, South Sumatera Block,
Selatan, Blok Rimau dan Blok A (Aceh). Rimau Block and Block A (Aceh), respectively.
Piutang atas cash call terkait operasi bersama The receivables from cash call related to joint
blok migas dikenakan bunga atas operations oil and gas blocks are charged with
keterlambatan pembayaran sebesar LIBOR/ late payment interest at LIBOR/SOFR plus
SOFR ditambah margin 2-3% per tahun yang 2-3% per annum which is determined based
ditentukan berdasarkan Joint Operating on the Joint Operating Agreement.
Agreement.
b. Pada tanggal 31 Desember 2024, piutang dari b. As of December 31, 2024, receivable from PT
PT Medco Daya Abadi Lestari (“MDAL”) Medco Daya Abadi Lestari (“MDAL”)
merupakan piutang atas penjualan 2% represents the receivable on the sale of the
kepemilikan saham MGeoPS Perusahaan ke 2% of MGeoPS shares of the Company to
MDAL. MDAL.
c. Piutang dari PT Api Metra Graha (“AMG”) c. Receivable from PT Api Metra Graha (“AMG”)
merupakan piutang terkait sewa ruangan is related to the Company’s office space lease
kantor Perusahaan di gedung The Energy. in The Energy building.
d. Piutang dari Pacific Medco Solar Energy Pte d. Receivables from Pacific Medco Solar Energy
Ltd. merupakan uang muka sehubungan Pte Ltd. represent advances in connection with
dengan proyek Pulau Bulan. Pulau Bulan Project.
87
Page 256
2025 Management Business Company Corporate
254 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
7. PIUTANG LAIN-LAIN (lanjutan) 7. OTHER RECEIVABLES (continued)
Pihak ketiga Third parties
a. Piutang Pajak Pertambahan Nilai (PPN) yang a. Reimbursable Value Added Tax (VAT)
dapat ditagihkan merupakan PPN yang represents VAT paid by subsidiaries involved
dibayarkan oleh entitas anak yang bergerak di in oil and gas exploration and production in
bidang eksplorasi dan produksi minyak dan Indonesia which are reimbursable from Satuan
gas bumi di Indonesia, yang dapat ditagih Kerja Khusus Pelaksana Kegiatan Usaha Hulu
kembali masing dari Satuan Kerja Khusus Minyak dan Gas Bumi (SKK Migas).
Pelaksana Kegiatan Usaha Hulu Minyak dan
Gas Bumi (SKK Migas).
b. Piutang atas uang muka merupakan uang b. Advance receivables pertain to advances for
muka untuk proyek pembangunan pembangkit power plant construction project. These
listrik. Piutang ini berjangka waktu lebih dari receivables are due more than one year.
satu tahun.
c. Piutang Operasi Bersama merupakan piutang c. Receivables from Joint Operations represent
dari mitra Operasi Bersama yang berkaitan receivables from Joint Operations partners
dengan aktivitas eksplorasi dan produksi relating to oil and gas exploration and
minyak dan gas bumi. production activities.
d. Piutang underlifting merupakan piutang dari d. The underlifting receivables relates to
SKK Migas dan mitra operasi bersama untuk receivables from SKK Migas and joint
anak usaha yang bergerak pada bidang operations partners for subsidiaries engaged
minyak dan gas bumi. in oil and gas sector.
Grup telah menerapkan metode yang The Group applies the simplified approach to
disederhanakan untuk menghitung kerugian kredit calculate expected credit losses prescribed by
ekspektasian sesuai dengan PSAK 109 yang PSAK 109 which permits the use of the lifetime
mengizinkan penggunaan cadangan kerugian expected loss provision for all trade and other
ekspektasian seumur hidup untuk seluruh piutang receivables. To measure the expected credit
usaha dan lain-lain. Untuk mengukur kerugian losses, other receivables have been grouped based
kredit ekspektasian, piutang lain-lain telah on credit rating of each counterparty.
dikelompokkan berdasarkan peringkat kredit setiap
rekanan.
Manajemen berkeyakinan bahwa penyisihan The management believes that the provisions for
kerugian kredit ekspektasian piutang lain-lain cukup expected credit losses of other receivables are
untuk menutup kemungkinan kerugian atas sufficient to cover losses from impairment of the
penurunan nilai piutang lain-lain. other receivables.
88
Page 257
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 255
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
8. PIUTANG SEWA PEMBIAYAAN 8. FINANCE LEASE RECEIVABLES
Akun ini terutama terdiri dari Perjanjian Pembelian This account comprises mainly of Power Purchase
Listrik entitas anak tertentu yang dimiliki oleh PT Agreement of certain subsidiaries of PT Medco
Medco Power Indonesia yang dicatat sebagai sewa Power Indonesia that are accounted for as finance
pembiayaan dan sublease aset hak guna. Syarat leases and sublease of right-of-use assets. The
perjanjian kontraktual sewa disajikan pada Catatan terms of the contractual lease arrangements are
49b. disclosed in Note 49b.
Pembayaran sewa minimum di masa mendatang The future minimum lease payments under finance
dalam sewa pembiayaan dengan nilai kini lease with the present value of the net minimum
pembayaran sewa minimum adalah sebagai lease payments are as follows:
berikut:
2025 2024
Kurang dari satu tahun 50.762.388 42.529.075 Within one year
Lebih dari satu tahun sampai lima After one year but not more than five
tahun 140.242.739 101.207.621 years
Lebih dari lima tahun 233.974.267 48.062.491 More than five years
Jumlah 424.979.394 191.799.187 Total
Dikurangi jumlah yang terkait dengan
bunga (211.025.029) (67.668.736) Less amount applicable to interest
Nilai kini dari pembayaran sewa Present value of minimum lease
minimum 213.954.365 124.130.451 payments
Penyesuaian nilai wajar 26.324.242 26.662.272 Fair value adjustment
Jumlah 240.278.607 150.792.723 Total
Dikurangi bagian yang jatuh tempo
dalam satu tahun (32.938.882) (30.826.137) Less current maturities
Bagian jangka panjang - neto 207.339.725 119.966.586 Long-term maturities - net
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, all finance
piutang sewa pembiayaan telah diasuransikan lease receivables were insured with various
kepada berbagai perusahaan asuransi insurance companies (Note 15). Management
(Catatan 15). Manajemen memiliki keyakinan believes that the insurance coverage is adequate to
bahwa nilai pertanggungan cukup untuk menutupi cover possible losses on the assets insured.
kemungkinan kerugian atas aset yang
dipertanggungkan.
Berdasarkan penelaahan status akun piutang sewa Based on the review of finance lease receivables as
pembiayaan pada tanggal 31 Desember 2025 dan of December 31, 2025 and 2024, management is of
2024, manajemen berpendapat bahwa seluruh the opinion that all finance lease receivables are
piutang sewa pembiayaan dapat direalisasikan dan realizable and no provision for impairment is
tidak ada penyisihan kerugian penurunan nilai yang necessary to be provided.
dibutuhkan.
Aset proyek tertentu dalam akun piutang sewa Certain project assets in finance lease receivables
pembiayaan tertentu digunakan sebagai jaminan account are used as collateral to the loans obtained
atas utang yang diperoleh oleh Entitas Anaknya by its Subsidiaries (Note 28).
(Catatan 28).
89
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2025 Management Business Company Corporate
256 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
9. ASET KEUANGAN KONSESI 9. CONCESSION FINANCIAL ASSETS
Akun ini merupakan piutang dari PT Perusahaan This account represents receivable from PT
Listrik Negara (Persero) (“PLN”) terkait Kontrak Perusahaan Listrik Negara (Persero) (“PLN”)
Penjualan Energi kepada PT Medco Cahaya related to the Energy Sales Contract with PT Medco
Geothermal (“MCG”), PT Medcosolar Bali Timur Cahaya Geothermal (“MCG”), PT Medcosolar Bali
(“MSBT”) dan PT Medco Ratch Power Riau Timur (“MSBT”) and PT Medco Ratch Power Riau
(“MRPR”) yang dicatat sebagai konsesi jasa. (“MRPR”) that are accounted for as service
Pergerakan dari aset konsesi adalah sebagai concession arrangement. The movements in the
berikut: concession financial assets are as follows:
2025 2024
Saldo awal 580.731.503 493.871.285 Beginning balance
Penambahan: Additions:
Pendapatan konstruksi 16.777.849 80.607.801 Construction revenue
Finance income from service
Pendapatan bunga dari jasa konsesi 37.541.923 37.807.226 concession
Penerimaan dari PLN (45.697.171) (31.554.809) Collection from PLN
Jumlah 589.354.104 580.731.503 Total
Dikurangi bagian yang jatuh
tempo dalam satu tahun 34.124.246 33.383.537 Less current maturities
Bagian jangka panjang - neto 555.229.858 547.347.966 Long-term maturities - net
Berdasarkan penelaahan status akun-akun aset Based on the review of concession financial assets
keuangan konsesi pada 31 Desember 2025 dan as of December 31, 2025 and 2024, management
2024, manajemen berpendapat bahwa seluruh aset is of the opinion that all concession financial assets
keuangan konsesi dapat direalisasikan dan tidak are realizable and no provision for impairment is
ada penyisihan kerugian penurunan nilai yang necessary to be provided.
dibutuhkan.
10. PERSEDIAAN 10. INVENTORIES
Persediaan terdiri dari: Inventories consist of:
2025 2024
Suku cadang, perlengkapan sumur
dan lainnya 147.528.319 142.487.608 Spareparts, well supplies and others
Persediaan minyak mentah 4.225.111 13.913.875 Crude oil inventories
Jumlah 151.753.430 156.401.483 Total
Akumulasi cadangan keusangan dan Accumulated allowance for
penurunan nilai (7.291.636) (276.885) obsolescence and decline in value
Neto 144.461.794 156.124.598 Net
Jumlah persediaan yang diakui sebagai beban Total inventories recognized as expense for the
untuk tahun yang berakhir pada tanggal 31 years ended December 31, 2025 and 2024
Desember 2025 dan 2024 masing-masing sebesar amounted to US$19 million and US$17.2 million,
AS$19 juta dan AS$17,2 juta, yang disajikan pada respectively, which are presented in the cost of
beban pokok pendapatan (biaya produksi dan revenue (production and lifting costs).
lifting).
90
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 257
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
10. PERSEDIAAN (lanjutan) 10. INVENTORIES (continued)
Pada tanggal 31 Desember 2025 dan 2024, seluruh As of December 31, 2025 and 2024, all inventories
persediaan telah diasuransikan kepada berbagai were insured with various insurance companies
perusahaan asuransi (Catatan 15 dan 18). (Notes 15 and 18). Management believes that the
Manajemen memiliki keyakinan bahwa nilai insurance coverage is adequate to cover possible
pertanggungan cukup untuk menutupi kemungkinan losses on the assets insured.
kerugian atas aset yang dipertanggungkan.
Pada tanggal 31 Desember 2025 dan 2024, tidak As of December 31, 2025 and 2024, there are no
ada persediaan yang dijaminkan sebagai jaminan. inventories that are pledged as collateral.
Perubahan dalam cadangan keusangan dan The changes in the allowance for obsolescence and
penurunan nilai adalah sebagai berikut: decline in value are as follows:
2025 2024
Saldo awal tahun 276.885 276.885 Balance at beginning of year
Penambahan penyisihan selama tahun
berjalan 7.014.751 – Increase in provision during the year
Saldo akhir tahun 7.291.636 276.885 Balance at end of year
Berdasarkan hasil penelaahan terhadap kondisi Based on the review of the physical condition and
fisik dan nilai realisasi neto dari persediaan pada net realizable values of inventories as of December
tanggal 31 Desember 2025 dan 2024, manajemen 31, 2025 and 2024, management is of the opinion
berpendapat bahwa cadangan keusangan dan that the allowance for obsolescence and decline in
penurunan nilai persediaan adalah cukup. value is adequate.
11. PAJAK DIBAYAR DIMUKA DAN ESTIMASI 11. PREPAID TAXES AND ESTIMATED CLAIMS FOR
PENGEMBALIAN PAJAK TAX REFUNDS
Rincian akun ini adalah sebagai berikut: The details of this account are as follows:
a. Pajak dibayar dimuka a. Prepaid taxes
2025 2024
Perusahaan The Company
Pajak Pertambahan Nilai (PPN) 198.411 660.379 Value Added Tax (VAT)
Lebih bayar Pajak Penghasilan Corporate Income Tax
Badan 6 – overpayments
Sub-jumlah 198.417 660.379 Sub-total
Entitas anak Subsidiaries
PPN 2.162.365 1.087.618 VAT
Lebih bayar Pajak Penghasilan Corporate Income Tax
Badan 16.756.956 512.792 overpayments
Sub-jumlah 18.919.321 1.600.410 Sub-total
Jumlah 19.117.738 2.260.789 Total
91
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2025 Management Business Company Corporate
258 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
11. PAJAK DIBAYAR DIMUKA DAN ESTIMASI 11. PREPAID TAXES AND ESTIMATED CLAIMS FOR
PENGEMBALIAN PAJAK (lanjutan) TAX REFUNDS (continued)
Rincian akun ini adalah sebagai berikut: The details of this account are as follows:
b. Estimasi pengembalian pajak b. Estimated claims for tax refunds
2025 2024
Perusahaan The Company
Pajak Penghasilan Badan Corporate Income Tax
Tahun 2025 56.079 – Year 2025
Tahun 2024 17.973 17.973 Year 2024
Tahun 2023 – 4.619 Year 2023
Sub-jumlah 74.052 22.592 Sub-total
Entitas anak Subsidiaries
Pajak Penghasilan Badan Corporate Income Tax
Tahun 2025 1.116.434 – Year 2025
Tahun 2024 458.709 2.335.288 Year 2024
Tahun 2023 1.335.084 1.764.028 Year 2023
Tahun 2020 – 142.249 Year 2020
Tahun 2019 – 430.159 Year 2019
PPN VAT
Tahun 2025 21.835.963 – Year 2025
Tahun 2024 125.911 1.180.412 Year 2024
Tahun 2023 – 4.376 Year 2023
Tahun 2020 – 48.840 Year 2020
Tahun 2019 – 165.047 Year 2019
Tahun 2018 – 49.030 Year 2018
Tahun 2016 – 255.811 Year 2016
Sub-jumlah 24.872.101 6.375.240 Sub-total
Jumlah 24.946.153 6.397.832 Total
Dikurangi bagian yang jatuh tempo
dalam satu tahun (1.910.961) (1.776.473) Less current maturities
Bagian jangka panjang 23.035.192 4.621.359 Long-term maturities
12. BEBAN DIBAYAR DI MUKA 12. PREPAID EXPENSES
Akun ini terdiri dari beban dibayar di muka jangka This account consists of short-term prepayments
pendek sebagai berikut: with details as follows:
2025 2024
Asuransi 5.786.259 4.678.582 Rental
Sewa 4.244.560 3.469.847 Insurance
Lain-lain 1.554.754 1.423.595 Others
Jumlah 11.585.573 9.572.024 Total
92
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 259
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
13. DEPOSITO DAN REKENING BANK YANG 13. RESTRICTED TIME DEPOSITS AND CASH IN
DIBATASI PENGGUNAANNYA BANKS
Rincian akun ini adalah sebagai berikut: The details of this account are as follows:
2025 2024
Lancar Current
Pihak ketiga Third party
Rupiah Rupiah
Deposito yang dibatasi
penggunaannya Restricted time deposit
PT Bank Rakyat Indonesia (Persero) PT Bank Rakyat Indonesia (Persero)
Tbk 1.215.519 1.532.603 Tbk
Dolar Amerika Serikat United States Dollar
Rekening bank yang dibatasi
penggunaannya Restricted cash in banks
Bank of New York Mellon 44.044.874 38.272.581 Bank of New York Mellon
Standard Chartered Bank - Cabang Standard Chartered Bank - Singapore
Singapura 9.685.533 9.108.765 Branch
DBS Bank Ltd 3.521.479 10.729.872 DBS Bank Ltd
PT Bank Syariah Indonesia Tbk 1.350.970 767.804 PT Bank Syariah Indonesia Tbk
Jumlah 59.818.375 60.411.625 Total
Tidak lancar Non-current
Rupiah Rupiah
Rekening bank yang dibatasi
penggunaannya Restricted cash in banks
PT Bank Negara Indonesia (Persero) PT Bank Negara Indonesia (Persero)
Tbk 3.891.761 – Tbk
Jumlah 3.891.761 – Total
2025 2024
Tingkat bunga per tahun Interest rate per annum
Deposito dan rekening bank yang Restricted time deposits and cash in
dibatasi penggunaannya banks
Rupiah 3,00% - 5,75% 3,75% - 5,00% Rupiah
Dolar Amerika Serikat 0,90% - 4,85% 0,00% - 5,55% United States Dollar
93
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2025 Management Business Company Corporate
260 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
13. DEPOSITO DAN REKENING BANK YANG 13. RESTRICTED TIME DEPOSITS AND CASH IN
DIBATASI PENGGUNAANNYA (lanjutan) BANKS (continued)
Bank/ Periode/ Deskripsi/
Bank Period Description
Deposito berjangka yang dibatasi
penggunaannya (Rupiah)/
Restricted time deposit (Rupiah)
PT Bank Rakyat Indonesia (Persero) Tbk 31 Desember 2025 dan Jaminan atas penerbitan Bank Garansi untuk Jaminan Pelaksanaan
2024/ sehubungan dengan Perjanjian Operasi dan Pemeliharaan di TJBPS /
December 31, 2025 and
Underlying for Bank Guarantee issued for Performance Bond in
2024
connection with Operation and Maintenance Agreement in TJBPS.
Saldo bank yang dibatasi penggunaannya
(Dolar AS)/
Restricted cash in bank (US Dollar)
Standard Chartered Bank - Singapore Branch 31 Desember 2025 dan Interest reserve account untuk pembayaran bunga atas obligasi Dolar
2024/ AS yang diterbitkan oleh Medco Oak Tree Pte. Ltd., entitas anak yang
December 31, 2025 and dimiliki sepenuhnya/
2024 Interest reserve account for interest payment of US Dollar Bonds
issued by Medco Oak Tree Pte. Ltd., wholly-owned subsidiaries.
DBS Bank Ltd 31 Desember 2025 dan Interest reserve account untuk pembayaran bunga atas obligasi Dolar
2024/ AS yang diterbitkan oleh Medco Energi Internasional Tbk. dan Medco
December 31, 2025 and Laurel Tree Pte. Ltd., entitas anak yang dimiliki sepenuhnya/
2024 Interest reserve account for interest payment of US Dollar Bonds
issued by Medco Energi Internasional Tbk. and Medco Laurel Tree
Pte. Ltd., wholly-owned subsidiaries.
Bank of New York Mellon 31 Desember 2025 dan Interest reserve account untuk pembayaran bunga atas obligasi Dolar
2024/ AS yang diterbitkan oleh Medco Bell Pte. Ltd., Medco Maple Tree Pte.
December 31, 2025 and Ltd. dan Medco Cypress Tre Pte. Ltd., entitas anak yang dimiliki
2024 sepenuhnya/
Interest reserve account for interest payment of US Dollar Bonds
issued by Medco Bell Pte. Ltd., Medco Maple Tree Pte. Ltd. and
Medco Cypress Tree Pte. Ltd., wholly-owned subsidiary.
PT Bank Syariah Indonesia Tbk 31 Desember 2025 dan Debt service account untuk pembayaran pokok pinjaman dan bunga
2024/ atas fasilitas pembiayaan dari PT Bank Syariah Indonesia (Persero)
December 31, 2025 and Tbk untuk ELB/
2024
Debt service account for loan principal and interest payments on
financing facility from PT Bank Syariah Indonesia (Persero) Tbk for
ELB.
PT Bank Negara Indonesia (Persero) Tbk 31 Desember 2025/ Rekening yang digunakan untuk menampung seluruh pendapatan
December 31, 2025 yang diperoleh PT Medco Energi Pelayaran, rekening pencadangan
pembayaran kewajiban, rekening pembayaran kewajiban (pokok dan
bunga), rekening untuk menampung dana pencadangan perawatan
berkala dan biaya premi asuransi atas aset kapal yang dibiayai, dan
rekening untuk menampung kelebihan dana sesuai dengan Cash
Waterfall yang diatur di Escrow Account Agreement/
Account used to collect all income earned by PT Medco Energi
Pelayaran, debt service reserve account, debt service payment
account (principal and interest), account to accommodate funds for
periodic maintenance reserves and insurance premium costs for the
financed ship assets, and account to accommodate excess funds in
accordance with the Cash Waterfall regulated in the Escrow Account
Agreement. s
94
Page 263
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 261
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM 14. INVESTMENT IN SHARES
t
Akun ini terdiri dari sebagai berikut: This account consists of the following:
2025
Selisih kurs
karena Nilai tercatat
Persentase Nilai tercatat 1 penjabaran 31 Desember
kepemilikan Januari 2025/ Penambahan/ laporan Perubahan 2025/
/Percentage Carrying value Additions keuangan/ ekuitas/ Carrying value
of January 1, Pengurangan/ Translation Equity December 31,
ownership 2025 (Deductions) adjustments changes 2025
Lancar/Current
Investasi ekuitas pada nilai wajar melalui laba rugi/
Equity investments at fair value through profit or loss
Entitas asosiasi/Associates
PT Sumber Mineral Citra Nusantara (SMCN) 18,00 % 115.657.000 (115.657.000) 4) – – –
Jumlah/Total 115.657.000 (115.657.000) – – –
Tidak lancar/Non-current
Metode ekuitas/Equity method
Entitas asosiasi/Associates
PT Amman Mineral Internasional Tbk. (AMI) 20,92 % 1.128.220.753 – – 37.290.737 1.165.511.490
PT Api Metra Graha (AMG) 49,00 % 108.151.823 – (1.592.435) 3.777.609 110.336.997
Lain-lain/Others 4.501.096 – (22.080) 157.549 4.636.565
Sub-jumlah entitas asosiasi/Sub-total
associates 1.240.873.672 – (1.614.515) 41.225.895 1.280.485.052
Ventura bersama/Joint venture
PT Transportasi Gas Indonesia (TGI) 40,00 % 245.942.426 – – 3.142.428 249.084.854
PT Medco Geopower Sarulla (MGeoPS) 49,00 % 152.172.811 – – 1.773.969 153.946.780
Sub-jumlah ventura bersama/Sub-total joint
venture 398.115.237 – – 4.916.397 403.031.634
Sub-jumlah metode ekuitas/Sub-total equity
method 1.638.988.909 – (1.614.515) 46.142.292 1.683.516.686
Investasi ekuitas pada nilai wajar/
Equity investments at fair value
PT Donggi Senoro LNG (DSLNG) 11,11 % 176.671.784 2.553.215 2) – – 179.224.999
PT Teknologi Data Infrastruktur (TDI) 3,28 % 4.166.406 (579.321) (153.925) – 3.433.160
Sub-jumlah investasi ekuitas pada nilai wajar/
Sub-total equity investment at fair value 180.838.190 1.973.894 (153.925) – 182.658.159
Jumlah/Total 1.819.827.099 1.973.894 (1.768.440) 46.142.292 1.866.174.845
95
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2025 Management Business Company Corporate
262 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
Akun ini terdiri dari sebagai berikut: This account consists of the following:
2024
Selisih kurs Nilai tercatat
Nilai tercatat karena 31 Desember
Persentase 1 Januari penjabaran 2024/
kepemilikan 2024/ Penambahan/ laporan Pendapatan Perubahan Carrying
/Percentage Carrying value Additions keuangan/ bunga/ ekuitas/ value
of January 1, Pengurangan/ Reklasifikasi/ Translation Interest Equity December
ownership 2024 (Deductions) Reclassification adjustments income changes 31, 2024
Lancar/Current
Investasi ekuitas pada nilai
wajar melalui laba rugi/
Equity investments at fair
value through profit or loss
Entitas asosiasi/
Associates
PT Sumber Mineral
Citra Nusantara
(SMCN) 18,00 % – – 115.657.000 4) – – – 115.657.000
Jumlah/Total – – 115.657.000 – – – 115.657.000
Tidak lancar/Non-current
Metode ekuitas/Equity
method
Entitas asosiasi/
Associates
PT Amman Mineral
Internasional Tbk.
(AMI) 20,92 % 1.000.635.322 – – (608.563) – 128.193.994 1.128.220.753
PT Api Metra Graha
(AMG) 49,00 % 107.814.797 – – (1.711.127) – 2.048.153 108.151.823
Lain-lain/Others 50,00 % 4.252.677 – – 36.939 – 211.480 4.501.096
Sub-jumlah entitas
asosiasi/Sub-total
associates 1.112.702.796 – – (2.282.751) – 130.453.627 1.240.873.672
Ventura bersama/Joint
venture
PT Transportasi Gas
Indonesia (TGI) 40,00 % – 244.138.107 3) – – – 1.804.319 245.942.426
PT Medco Geopower
Sarulla (MGeoPS) 49,00 % 148.802.743 – – – – 3.370.068 152.172.811
Transasia Pipeline
Company Pvt. Ltd
("Transasia") 50,00 % 113.001.319 (120.349.626) 3) – – 34.863.487 (27.515.180) –
Sub-jumlah ventura
bersama/Sub-total
joint venture
261.804.062 123.788.481 – – 34.863.487 (22.340.793) 398.115.237
Sub-jumlah metode
ekuitas/Sub-total
equity method 1.374.506.858 123.788.481 – (2.282.751) 34.863.487 108.112.834 1.638.988.909
Investasi ekuitas pada nilai
wajar/
Equity investments at fair
value
PT Donggi Senoro
LNG (DSLNG) 11,11 % 172.942.882 3.728.902 2) – – – – 176.671.784
PT Sumber Mineral
Citra Nusantara
` (SMCN) 18,00 % 103.525.000 12.132.000 1) (115.657.000) 4) – – – –
PT Teknologi Data
Infrastruktur (TDI) 5,00 % 2.010.892 2.622.150 – (224.558) – (242.078) 4.166.406
Sub-jumlah investasi
ekuitas pada nilai
wajar/
Sub-total equity
investment at fair
value 278.478.774 18.483.052 (115.657.000) (224.558) – (242.078) 180.838.190
Jumlah/Total 1.652.985.632 142.271.533 (115.657.000) (2.507.309) 34.863.487 107.870.756 1.819.827.099
96
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 263
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
Akun ini terdiri dari sebagai berikut: This account consists of the following:
1) Pada tahun yang berakhir pada 31 Desember 2024, Grup mengakui penyesuaian 1) For the year ended December 31, 2024, the Group recognized a gain on fair value
nilai wajar atas investasi pada PT Sumber Mineral Citra Nusantara sebesar in PT Sumber Mineral Citra Nusantara amounting US$12,132,000.
AS$12.132.000.
2) Pada tahun yang berakhir pada 31 Desember 2025 dan 2024, Grup mengakui 2) For the years ended December 31, 2025 and 2024, the Group recognized
penyesuaian nilai wajar atas investasi pada PT Donggi Senoro LNG (DSLNG) adjustment on fair value of investment in PT Donggi Senoro LNG (DSLNG)
sebesar AS$21.423.215 dan AS$17.825.902. Grup telah menerima pengembalian amounting to US$21,423,215 and US$17,825,902. The Group has received capital
modal dari PT DSLNG sebesar AS$18.870.000 dan AS$14.097.000 masing-masing redemptions from PT DSLNG amounting to US$18,870,000 and US$14,097,000 in
di tahun 2025 dan 2024. year 2025 and 2024, respectively.
3) Selama tahun 2024, Grup mengakuisisi tambahan 15% dan kemudian 35% 3) In 2024 the Group has acquired additional 15% and subsequently 35% share
kepemilikan saham di Transasia Pipeline Company Pvt. Ltd. (“Transasia”), dimana ownership in Transasia Pipeline Company Pvt. Ltd. (“Transasia”), whereas
Transasia memiliki 40% saham PT Transportasi Gas Indonesia (“TGI”). Dengan Transasia owned 40% share ownership in PT Transportasi Gas Indonesia (“TGI”).
penambahan saham ini maka Grup menjadi memiliki persentase kepemilikan 85% With the acquisition, the Group owns 85% share ownership since the effective date
sejak tanggal efektif pada November 2024, sehingga Grup melakukan konsolidasi in November 2024, therefore the Group consolidated Transasia and has revised the
atas Transasia dan mengakui revisi nilai wajar untuk menunjukkan alokasi harga fair value to reflect the fair purchase price allocation (Note 48) and recorded 40%
pembelian yang wajar (Catatan 48) dan melakukan pencatatan menggunakan investment share in TGI using equity method.
metode ekuitas atas 40% investasi saham di TGI.
4) Pada November 2024, Perusahaan menjual seluruh kepemilikan nya di SMCN 4) In November 2024, the Company sold all of its ownership in SMCN with an agreed
dengan harga kesepakatan AS$115.657.000. Selanjutnya, Perusahaan telah price at US$115,657,000. Subsequently, the Company has received the full
menerima pembayaran penuh. settlement.
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in
entitas asosiasi dan ventura bersama: associates and joint venture:
2025
Dampak
perubahan
Pendapatan transaksi
Persentase Laba (rugi) tahun komprehensif Dividen yang ekuitas/ Effect of
kepemilikan/ berjalan/ Profit lain/ Other dideklarasikan/ changes in
Percentage of (loss) for the comprehensive Dividends equity
ownership year income declared transactions Jumlah/ Total
Entitas asosiasi/Associates
Metode ekuitas/Equity method
PT Amman Mineral Internasional
Tbk. (AMI)
20,92 % 52.086.407 (4.691.310) – (10.104.360) 37.290.737
PT Api Metra Graha (AMG) 49,00 % 3.776.091 1.518 – – 3.777.609
Lain-lain/Others 50,00 % 157.549 – – – 157.549
Sub-jumlah/Sub-total 56.020.047 (4.689.792) – (10.104.360) 41.225.895
Ventura bersama/Joint venture
Metode ekuitas/Equity method
PT Medco Geopower Sarulla 49,00 % 3.516.780 (1.742.811) – – 1.773.969
(MGeoPS)
PT Transportasi Gas Indonesia
(TGI)
40,00 % 28.392.756 – (25.250.328) – 3.142.428
Sub-jumlah/Sub-total 31.909.536 (1.742.811) (25.250.328) – 4.916.397
Jumlah/Total 87.929.583 (6.432.603) (25.250.328) (10.104.360) 46.142.292
97
Page 266
2025 Management Business Company Corporate
264 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in
entitas asosiasi dan ventura bersama: associates and joint venture:
2024
Dampak
perubahan
Pendapatan transaksi
Persentase Laba (rugi) tahun komprehensif Dividen yang ekuitas/ Effect of
kepemilikan/ berjalan/ Profit lain/ Other dideklarasikan/ changes in
Percentage of (loss) for the comprehensive Dividends equity
ownership year income declared transactions Jumlah/ Total
Entitas asosiasi/Associates
Metode ekuitas/Equity method
PT Amman Mineral
Internasional Tbk. (AMI)
20,92 % 133.238.434 (5.044.440) – – 128.193.994
PT Api Metra Graha (AMG) 49,00 % 2.844.596 (796.443) – – 2.048.153
Lain-lain/Others 50,00 % 211.480 – – – 211.480
Sub-jumlah/Sub-total 136.294.510 (5.840.883) – – 130.453.627
Investasi ekuitas pada nilai
wajar/
Equity investments at fair value
PT Teknologi Data
Infrastruktur (TDI) 5,00 % – (242.078) – – (242.078)
Sub-jumlah/Sub-total – (242.078) – – (242.078)
Ventura bersama/Joint venture
Metode ekuitas/Equity method
PT Medco Geopower Sarulla
(MGeoPS)
49,00 % 2.517.615 852.453 – – 3.370.068
PT Transportasi Gas 1)
Indonesia (TGI) 40,00 % 1.804.319 – – – 1.804.319
Transasia Pipeline Company
2)
Pvt. Ltd ("Transasia")
50,00 % (27.515.180) – – – (27.515.180)
Sub-jumlah/Sub-total (23.193.246) 852.453 – – (22.340.793)
Jumlah/Total 113.101.264 (5.230.508) – – 107.870.756
1) Informasi Laporan laba rugi bulan berjalan sejak tanggal efektif akuisisi 1) Profiit (loss) for the month after the effective date of acquisition
2) Informasi laporan laba rugi tahun berjalan hanya sampai dengan tanggal efektif 2) Profit (loss) for the year is only up to the effective date of acquisition, subsequent
akuisisi, hasil laba rugi setelah tanggal akuisisi dikonsolidasi ke Grup results after acquisition are consolidated to the Group
98
Page 267
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 265
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
Tabel berikut menyajikan ringkasan informasi The following table illustrates the summarized
keuangan entitas asosiasi dan ventura bersama: financial information of the associates and joint
venture:
Laporan posisi keuangan: Statement of financial position:
2025
Kepentingan
Liabilitas Liabilitas Ekuitas Non- Bagian Grup
jangka jangka entitas induk/ Pengendali/ Persentase atas aset Penyesuaian Nilai tercatat
Aset lancar/ Aset tidak pendek/ panjang/ Non- Equity of Non- kepemilikan/ neto/ The ekuitas/ investasi/
Current lancar/ Non- Current current parent controlling Percentage Group's share Equity Investment
assets current assets liabilities liabilities company interest of ownership of net assets adjustment carrying value
Entitas asosiasi/
Associates
PT Amman Mineral
Internasional
Tbk. (AMI) 3.152.403.000 10.718.245.000 1.409.937.000 7.029.599.000 5.338.096.000 93.016.000 20,92 % 1.116.729.683 48.781.807 1.165.511.490
PT Api Metra Graha
(AMG) 58.445.371 78.765.036 4.335.902 50.492.710 82.381.795 – 49,00 % 40.367.081 69.969.916 110.336.997
Lain-lain/Others 3.688.953 15.223.487 910.986 9.395.850 8.605.604 – 50,00 % 4.302.802 333.763 4.636.565
Sub-jumlah/Sub-
total 3.214.537.324 10.812.233.523 1.415.183.888 7.089.487.560 5.429.083.399 93.016.000 1.161.399.566 119.085.486 1.280.485.052
Ventura bersama/Joint
venture
PT Transportasi
Gas Indonesia
(TGI) 175.484.972 115.798.560 37.849.706 17.198.727 236.235.099 – 40,00 % 94.494.039 154.590.815 249.084.854
PT Medco
Geopower
Sarulla
(MGeoPS) 70.543.878 448.904.421 236.128.810 65.723.486 217.596.003 – 49,00 % 106.622.043 47.324.737 153.946.780
Sub-jumlah/Sub-
total 246.028.850 564.702.981 273.978.516 82.922.213 453.831.102 – 201.116.082 201.915.552 403.031.634
Jumlah/Total 3.460.566.174 11.376.936.504 1.689.162.404 7.172.409.773 5.882.914.501 93.016.000 1.362.515.648 321.001.038 1.683.516.686
2024
Kepentingan
Liabilitas Liabilitas Ekuitas Non- Bagian Grup
jangka jangka entitas induk/ Pengendali/ Persentase atas aset Penyesuaian Nilai tercatat
Aset lancar/ Aset tidak pendek/ panjang/ Non- Equity of Non- kepemilikan/ neto/ The ekuitas/ investasi/
Current lancar/ Non- Current current parent controlling Percentage Group's share Equity Investment
assets current assets liabilities liabilities company interest of ownership of net assets adjustment carrying value
Entitas asosiasi/
Associates
PT Amman Mineral
Internasional
Tbk. (AMI) 2.332.417.000 8.789.071.000 1.156.468.000 4.716.620.000 5.159.842.000 88.558.000 20,92 % 1.079.438.946 48.781.807 1.128.220.753
PT Api Metra Graha
(AMG) 54.552.558 83.467.524 6.324.905 53.772.916 77.922.261 – 49,00 % 38.181.907 69.969.916 108.151.823
Lain-lain/Others 3.656.279 16.053.215 1.534.108 9.840.714 8.334.672 – 50,00 % 4.167.333 333.763 4.501.096
Sub-jumlah/Sub-
total 2.390.625.837 8.888.591.739 1.164.327.013 4.780.233.630 5.246.098.933 88.558.000 1.121.788.186 119.085.486 1.240.873.672
Ventura bersama/Joint
venture
PT Transportasi
Gas Indonesia
(TGI) 158.783.906 117.635.346 28.132.805 19.907.421 228.379.026 – 40,00 % 91.351.611 154.590.815 245.942.426
PT Medco
Geopower
Sarulla
(MGeoPS) 92.764.692 446.819.480 260.826.915 64.781.599 213.975.658 – 49,00 % 104.848.074 47.324.737 152.172.811
Sub-jumlah/Sub-
total 251.548.598 564.454.826 288.959.720 84.689.020 442.354.684 – 196.199.685 201.915.552 398.115.237
Jumlah/Total 2.642.174.435 9.453.046.565 1.453.286.733 4.864.922.650 5.688.453.617 88.558.000 1.317.987.871 321.001.038 1.638.988.909
99
Page 268
2025 Management Business Company Corporate
266 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
Tabel berikut menyajikan ringkasan informasi The following table illustrates the summarized
keuangan entitas asosiasi dan ventura bersama: financial information of the associates and joint
(lanjutan) venture: (continued)
Laporan laba rugi dan penghasilan Statement of profit or loss and other
komprehensif lain: comprehensive income:
2025
Penghasilan Jumlah
(rugi) penghasilan
komprehensif (rugi)
Lain/ komprehensif/ Persentase Bagian investor
Pendapatan Other Total kepemilikan/ atas laba (rugi)/
neto/ Net Laba (rugi)/ comprehensive comprehensive Percentage of Investor's share
revenues Profit (loss) income (loss) income (loss) ownership on profit (loss)
Entitas asosiasi/Associates
PT Amman Mineral Internasional
Tbk. (AMI) 1.846.521.000 248.979.000 (22.425.000) 226.554.000 20,92 % 52.086.407
PT Api Metra Graha (AMG) 21.778.018 7.706.309 3.098 7.709.407 49,00 % 3.776.091
Lain-lain/Others 1.851.806 315.098 – 315.098 50,00 % 157.549
Sub-jumlah/Sub-total 1.870.150.824 257.000.407 (22.421.902) 234.578.505 56.020.047
Ventura bersama/Joint venture
PT Transportasi Gas Indonesia
(TGI) 143.861.686 70.793.871 – 70.793.871 40,00 % 28.392.756
PT Medco Geopower Sarulla
(MGeoPS) 43.559.755 7.177.103 (3.556.758) 3.620.345 49,00 % 3.516.780
Sub-jumlah/Sub-total 187.421.441 77.970.974 (3.556.758) 74.414.216 31.909.536
Jumlah/Total 2.057.572.265 334.971.381 (25.978.660) 308.992.721 87.929.583
2024
Penghasilan Jumlah
(rugi) penghasilan
komprehensif (rugi)
Lain/ komprehensif/ Persentase Bagian investor
Pendapatan Other Total kepemilikan/ atas laba (rugi)/
neto/ Net Laba (rugi)/ comprehensive comprehensive Percentage of Investor's share
revenues Profit (loss) income (loss) income (loss) ownership on profit (loss)
Entitas asosiasi/Associates
PT Amman Mineral Internasional
Tbk. (AMI) 2.663.630.000 636.895.000 (24.113.000) 612.782.000 20,92 % 133.238.434
PT Api Metra Graha (AMG) 22.409.927 5.805.298 (1.625.393) 4.179.905 49,00 % 2.844.596
Lain-lain/Others 2.027.672 422.961 – 422.961 50,00 % 211.480
Sub-jumlah/Sub-total 2.688.067.599 643.123.259 (25.738.393) 617.384.866 136.294.510
Ventura bersama/Joint venture
PT Transportasi Gas Indonesia
(TGI) 131.142.201 63.125.817 242.568 63.368.385 40,00 % 1.804.319 1)
PT Medco Geopower Sarulla
(MGeoPS) 43.256.763 5.137.989 1.739.699 6.877.688 49,00 % 2.517.615
Transasia Pipeline Company
Pvt. Ltd ("Transasia") 14.245.838 (65.143.305) – (65.143.305) 50,00 % (27.515.180) 2)
Sub-jumlah/Sub-total 188.644.802 3.120.501 1.982.267 5.102.768 (23.193.246)
Jumlah/Total 2.876.712.401 646.243.760 (23.756.126) 622.487.634 113.101.264
1) Informasi Laporan laba rugi bulan berjalan sejak tanggal efektif akuisisi 1) Profiit (loss) for the month after the effective date of acquisition
2) Informasi laporan laba rugi tahun berjalan hanya sampai dengan tanggal efektif 2) Profit (loss) for the year is only up to the effective date of acquisition, subsequent
akuisisi, hasil laba rugi setelah tanggal akuisisi dikonsolidasi ke Grup results after acquisition are consolidated to the Group
100
Page 269
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 267
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
Entitas asosiasi dan ventura bersama tidak The associates and joint venture had no capital
mempunyai komitmen modal dan liabilitas commitments or contingent liabilities as of
kontinjensi pada tanggal 31 Desember 2025 dan December 31, 2025 and 2024.
2024.
Tidak ada pembatasan signifikan atas kemampuan There are no significant restrictions on the ability of
entitas asosiasi dan ventura bersama untuk associates and joint venture entity to transfer funds
mentransfer dana kepada Grup, kecuali untuk AMG. to the Group, except for AMG.
a. Entitas asosiasi dan ventura bersama – metode a. Associate and join ventures – equity method
ekuitas
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
Pada tahun 2021, setelah divestasi 2% In 2021, after the 2% divestment of PT Medco
kepemilikan saham yang dimiliki oleh PT Medco Power Indonesia’s (“MPI”) share ownership in
Power Indonesia (“MPI”) atas MGeoPS kepada MGeoPS to PT Medco Daya Abadi Lestari, the
PT Medco Daya Abadi Lestari, sisa investasi remaining investment is accounted using equity
dicatat menggunakan metode ekuitas. method.
Perusahaan memberikan jaminan atas pinjaman The Company guaranteed the loan which is
yang diperoleh Sarulla Operations Ltd (SOL) obtained by Sarulla Operations Ltd (SOL) at the
sebesar kepemilikan efektif Perusahaan di SOL amount equivalent to its effective ownership in
sebesar 18,07% pada tanggal 31 Desember SOL amounted to 18.07% as of December 31,
2025 dan 2024. 2025 and 2024.
Sehubungan dengan perjanjian pinjaman bank In relation with the bank loan agreement of SOL,
SOL, SOL tidak diperbolehkan untuk SOL is not allowed to distribute dividends to its
membagikan dividen kepada para pemegang shareholders without written consent from the
sahamnya tanpa persetujuan tertulis dari bank. bank.
Pada tanggal 26 April 2024, Agen Fasilitas On April 26, 2024, Global Facility Agent (“GFA”)
Global Facility Agent (“GFA”) menyampaikan announced the existence of Event of Default due
bahwa telah terjadi Peristiwa Cidera Janji to the historic Debt Service Coverage Ratio
(“Event of Default”) karena rasio Debt Service (“DSCR”) below the required ratio value as of
Coverage Ratio (“DSCR”) historis pada tanggal March 24, 2024, September 24, 2023,
24 Maret 2024, 24 September 2023, 24 September 24, 2021, March 24, 2021 and
September 2021, 24 Maret 2021 dan 24 September 24, 2020.
September 2020 berada di bawah nilai rasio
yang dipersyaratkan.
Pada tanggal 27 September 2024, 30 Maret On September 27, 2024, March 30, 2022,
2022, 3 Oktober 2022 dan 30 Maret 2023, SOL October 3, 2022 and March 30, 2023, SOL has
telah menginformasikan kepada Pemberi informed the Lenders that the minimum required
Pinjaman bahwa Debt Service Coverage Ratio historical Debt Service Coverage Ratio on the
historis, masing-masing, pada Tanggal Calculation Date of September 24, 2024, March
Perhitungan 24 September 2024, 24 Maret 24, 2022, September 24, 2022 and March 24,
2022, 24 September 2022 dan 24 Maret 2023 2023, respectively, was met. SOL has also
telah mencapai nilai yang dipersyaratkan. SOL continuously inform the lender of the situation
juga telah menginformasikan perkembangan developments.
situasi kepada Pemberi Pinjaman.
101
Page 270
2025 Management Business Company Corporate
268 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
a. Entitas asosiasi dan ventura bersama – metode a. Associate and join ventures – equity method
ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
(lanjutan) (continued)
Dengan mempertimbangkan tindakan yang Taking into account the ongoing actions to repair
sedang berlangsung untuk memperbaiki sumur the well and associated production facilities,
dan fasilitas produksi terkait, termasuk including preparing for a long-term recovery plan
mempersiapkan rencana perbaikan jangka and achieved the above financial covenants as
panjang serta terpenuhinya ketentuan keuangan of September 24, 2024. SOL's management
pada tanggal 24 September 2024, manajemen believes that the lenders will not exercise their
SOL berkeyakinan bahwa pemberi pinjaman rights to take over the SOL project or require
tidak akan menggunakan hak mereka untuk SOL to repay outstanding loans, for at least the
mengambil alih proyek SOL atau meminta SOL next 12 months, even though the DSCR for
untuk melunasi pinjaman yang belum dibayar, certain periods during 2020 - 2024 were below
setidaknya selama 12 bulan ke depan, the required ratio value and not yet obtained the
walaupun batasan DSCR di periode tertentu waiver from creditors.
selama tahun 2020 - 2024 di bawah nilai rasio
yang dipersyaratkan dan belum mendapatkan
pembebasan (waiver) dari para kreditur.
SOL telah memperoleh persetujuan Pemberi SOL has obtained the Lenders’ approval on the
Pinjaman terkait dengan rencana perbaikan long-term recovery plan, in which the sponsors
jangka panjang yang mana para sponsor telah have agreed to provide Standby Letter of Credit
sepakat untuk menerbitkan Standby Letter of (“SBLC”) to guarantee the fulfillment of SOL’s
Credit (“SBLC”) untuk memastikan terpenuhi payment terms to the Lenders in accordance to
kewajiban pembayaran SOL kepada pemberi the loan agreement during the long-term
pinjaman selama periode pelaksanaan recovery period. Recoverability of interest in
perbaikan jangka panjang tersebut. Pemulihan SOL is dependent on risk and uncertainty over
kepentingan di SOL bergantung kepada risiko the success of running a long-term improvement
dan ketidakpastian atas keberhasilan effort. The carrying amount of the interest in
menjalankan usaha perbaikan jangka panjang. SOL does not include any adjustments that may
Nilai tercatat atas kepentingan di SOL tidak arise from these uncertainties.
mencakup penyesuaian yang mungkin timbul
dari ketidakpastian tersebut.
Untuk tujuan pengujian penurunan nilai pada For impairment testing purposes on December
tanggal 31 Desember 2025 dan 2024, 31, 2025 and 2024, the calculation of
perhitungan jumlah terpulihkan investasi pada recoverable amount of the investment in shares
penyertaan saham berdasarkan proyeksi arus of stock is based on discounted cash flow
kas yang didiskontokan dari rencana bisnis yang projections from the business plan covering
mencakup periode kontrak jangka panjang. long-term contract period. The assessment
Penilaian tersebut memerlukan penggunaan require the use of estimates and assumptions
estimasi dan asumsi seperti tingkat diskonto, such as discount rate, gas prices, reserves,
harga gas, cadangan, beban modal, biaya capital expenses, operating costs and operating
operasi dan kinerja operasi (termasuk volume performance (which includes production and
produksi dan penjualan). Jumlah terpulihkan sales volumes). The recoverable amount is
dihitung oleh penilai independen. Perhitungan calculated by an independent appraiser. The
nilai wajar dikategorikan level 3 dari hirarki nilai calculation of fair value is categorized level 3 of
wajar. the fair value hierarchy.
102
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 269
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
a. Entitas asosiasi dan ventura bersama – metode a. Associate and join ventures – equity method
ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
(lanjutan) (continued)
Asumsi-asumsi utama yang digunakan Key assumptions used
Paragraf berikut menunjukkan informasi tentang The following paragraph shows the information
input signifikan yang tidak dapat diobservasi. about significant unobservable inputs.
a. Tingkat diskonto a. Discount rate
Pada tanggal 31 Desember 2025 dan 2024, As at December 31, 2025 and 2024, the pre-
tingkat diskonto sebelum pajak yang tax discount rate applied to the cash flow
diterapkan pada proyeksi arus kas masing- projection is within the range of 6.80% -
masing berada dalam kisaran 6,80% - 8,24% 8.24% and 6.68% - 8.38%, respectively.
dan 6,68% - 8,38%. b. Capital expenses, operating costs and
b. Pengeluaran modal, biaya operasi dan operating performances
kinerja operasi These assumptions are based on the
Asumsi-asumsi ini didasarkan pada kinerja MGeoPS operating performance, capital
operasi MGeoPS, beban modal dan rencana expenses and budget plan.
anggaran. c. Electricity tariff
c. Tarif listrik These assumptions are based on electricity
Asumsi ini didasarkan pada kontrak sales contract with PLN.
penjualan listrik dengan PLN.
Berdasarkan hasil penelaahan atas investasi di Based on the review for investment in MGeoPS,
MGeoPS, manajemen berpendapat bahwa management believes that the recoverable
jumlah terpulihkan investasi melebihi nilai amount exceeds the book value therefore there
tercatatnya sehingga tidak diperlukan cadangan is no provision for impairment needed as
penurunan nilai pada tanggal 31 Desember December 31, 2025 and 2024.
2025 dan 2024.
PT Amman Mineral Internasional Tbk. PT Amman Mineral Internasional Tbk.
(“AMI”) (“AMI”)
Sehubungan dengan perjanjian pinjaman bank In relation with the bank loan agreement of PT
PT Amman Mineral Nusa Tenggara (AMNT), AMI Amman Mineral Nusa Tenggara (AMNT), AMI is
hanya diizinkan untuk membagikan dividen only allowed to distribute dividends to its
kepada pemegang saham hanya pada atau shareholders only on or after the initial public
setelah penawaran umum perdana atas saham offering of AMI shares.
AMI.
Pada tanggal 7 Juli 2023, AMI telah terdaftar di On July 7, 2023, AMI was listed on the
Bursa Efek Indonesia (“BEI”) dengan kode Indonesia Stock Exchange (“IDX”), with ticker
emiten AMMN, melalui IPO dengan harga AMMN, through an IPO with an offering price of
penawaran Rp1.695 per lembar saham. AMI Rp1,695 per share. AMI issued 6.32 billion
menerbitkan 6,32 miliar lembar saham baru common new shares to the public representing
kepada masyarakat yang merupakan 8,8% dari 8.8% of total issued shares.
total saham telah diterbitkan.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan evaluasi manajemen, tidak management’s assessment, there are no
terdapat indikasi atau tidak ada faktor yang circumstances or no significant factors that
signifikan bahwa nilai tercatat investasi di AMI would indicate the carrying value of investment
mengalami penurunan nilai. in AMI may be impaired.
103
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2025 Management Business Company Corporate
270 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
a. Entitas asosiasi dan ventura bersama – metode a. Associate and join ventures – equity method
ekuitas (lanjutan) (continued)
PT Api Metra Graha (“AMG”) PT Api Metra Graha (“AMG”)
Sehubungan dengan perjanjian pinjaman bank In relation with the bank loan agreement of
AMG, AMG tidak diperbolehkan untuk AMG, AMG is not allowed to distribute dividends
membagikan dividen kepada para pemegang to its shareholders without written consent from
sahamnya tanpa persetujuan tertulis dari bank. the bank.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan evaluasi manajemen, tidak management’s assessment, there are no
terdapat indikasi atau tidak ada faktor yang circumstances or no significant factors that
signifikan bahwa nilai tercatat investasi di AMG would indicate the carrying value of investment
mengalami penurunan nilai. in AMG may be impaired.
Transasia Pipeline Company Pvt. Ltd. Transasia Pipeline Company Pvt. Ltd.
(“Transasia”) (“Transasia”)
Transasia Pipeline Company Pvt. Ltd. Transasia Pipeline Company Pvt. Ltd.
(“Transasia”) adalah perusahaan tertutup yang (“Transasia”) is a private company incorporated
didirikan di Mauritius. Transasia adalah in Mauritius. Transasia is an investment holding
perusahaan induk investasi dengan 40% company with a 40% ownership in PT
kepemilikan pada PT Transportasi Gas Transportasi Gas Indonesia (“TGI”), a company
Indonesia (“TGI”), yaitu perusahaan yang engaged in the transportation of natural gas
bergerak di bidang transportasi gas alam melalui through its pipeline. TGI is incorporated and
jalur pipa yang dimilikinya. TGI didirikan dan domiciled in the Republic of Indonesia.
berdomisili di Republik Indonesia.
Pada Maret 2022, Perusahaan melalui Medco In March 2022, the Company through Medco
Energi Global Pte. Ltd., entitas anak yang Energi Global Pte. Ltd., a wholly-owned
dimiliki sepenuhnya oleh Perusahaan, telah subsidiary of the Company, entered into an
mengakuisisi seluruh saham ConocoPhillips agreement to acquire all shares of
Indonesia Holding Ltd., termasuk di dalamnya ConocoPhillips Indonesia Holding Ltd., where
berupa 35% kepemilikan dalam Transasia. the acquisition includes 35% ownership in
Transasia.
Pada tanggal 2 Februari 2024, Medco E & P On February 2, 2024, Medco E & P Corridor
Corridor Holding Ltd (“MEPCHL”) dan Repsol Holding Ltd (“MEPCHL”) and Repsol
Transgasindo S.a.r.l (“Repsol”) menandatangani Transgasindo S.a.r.l (“Repsol”) signed a Share
Perjanjian Jual Beli Saham terkait pengalihan Sale and Purchase Agreement regarding the
15% kepemilikan saham di Transasia dari transfer of 15% of shares in Transasia from
Repsol kepada MEPCHL. Transaksi tersebut Repsol to MEPCHL. The transaction was
telah diselesaikan pada tanggal 28 Mei 2024 completed on May 28, 2024 and MEPCHL’s
dan porsi kepemilikan saham MEPCHL di share ownership in Transasia became 50%.
Transasia menjadi 50%.
Kemudian, pada tanggal 1 Agustus 2024, Then, on August 1, 2024, MEPCHL acquired
MEPCHL mengakuisisi 35% kepemilikan saham 35% of shares in Transasia from Petronas
di Transasia dari Petronas International International Corporation Ltd. The transaction
Corporation Ltd. Transaksi tersebut telah was completed and effective on November 29,
diselesaikan dan efektif tanggal 29 November 2024, bringing MEPCHL's shareholding in
2024 sehingga porsi kepemilikan saham Transasia to 85% (Note 48).
MEPCHL di Transasia menjadi 85% (Catatan
48).
104
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 271
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
a. Entitas asosiasi dan ventura bersama – metode a. Associate and join ventures – equity method
ekuitas (lanjutan) (continued)
Transasia Pipeline Company Pvt. Ltd. Transasia Pipeline Company Pvt. Ltd.
(lanjutan) (continued)
Berdasarkan Transasia Joint Venture Based on the Transasia Joint Venture
Agreement, dengan kepemilikan hingga 85%, Agreement, with ownership of up to 85%, the
Perusahaan dianggap memiliki pengendalian. Company is considered to have control. Thus,
Dengan demikian, Perusahaan telah the Company has consolidated Transasia since
mengkonsolidasikan Transasia sejak tanggal its effective date.
efektifnya.
Pada tanggal 29 Juli 2025, MEPCHL dan SPC On July 29, 2025, MEPCHL and SPC Indo-
Indo-Pipeline Co. Ltd. (“SPC”) menandatangani Pipeline Co. Ltd. (“SPC”) entered into a Share
Perjanjian Jual Beli Saham terkait pengalihan Sale and Purchase Agreement regarding the
15% kepemilikan saham di Transasia dari SPC transfer of 15% of the shares in Transasia from
kepada MEPCHL. Transaksi ini mengakibatkan SPC to MEPCHL. This transaction resulted in
MEPCHL menjadi pemegang saham tunggal MEPCHL becoming the sole shareholder in
dalam Transasia. Transaksi ini diselesaikan Transasia. The transaction was completed on 16
pada tanggal 16 September 2025, setelah September 16, 2025, following the fulfilment of
terpenuhinya seluruh syarat dan ketentuan all conditions precedent under the Share Sale
dalam Perjanjian Jual Beli Saham. and Purchase Agreement.
Pada bulan Desember 2025, Transasia (selaku In December 2025, Transasia (as the Seller)
Penjual) dan PT Medco LNG Indonesia (“MLI”) and PT Medco LNG Indonesia (“MLI”) (as the
(selaku Pembeli) menandatangani Perjanjian Buyer) entered into Shares Sale and Purchase
Jual Beli Saham untuk menjual dan Agreement to sell and transfer the 543,746
mengalihkan 543.746 saham yang mewakili shares representing 40% of the subscribed and
40% dari modal ditempatkan dan disetor penuh paid-up capital in PT Transportasi Gas
pada PT Transportasi Gas Indonesia. Setelah Indonesia. Upon effectiveness of the
transaksi tersebut efektif, MLI menjadi transaction, MLI became the shareholder of 40%
pemegang saham atas 40% kepemilikan di TGI. TGI.
PT Transportasi Gas Indonesia PT Transportasi Gas Indonesia
PT Transportasi Gas Indonesia (“TGI”) adalah PT Transportasi Gas Indonesia (“TGI”) is a
perusahaan tertutup yang didirikan dan private company incorporated and domiciled in
berdomisili di Republik Indonesia. TGI bergerak the Republic of Indonesia. TGI engaged in the
di bidang transportasi gas alam melalui jalur transportation of natural gas through its pipeline.
pipa yang dimilikinya.
Infrastruktur pipa gas TGI, yang terdiri dari TGI’s gas infrastructures, which consist of the
Jaringan Pipa Transmisi Grissik-Duri (“GD”) dan Grissik-Duri (“GD”) Pipeline and Grissik-
Grissik-Singapura (“GS”) diserahterimakan dari Singapore (“GS”) Pipeline were transferred from
PT Perusahaan Gas Negara (Persero) Tbk. PT Perusahaan Gas Negara (Persero) Tbk.
(“PGN”) – pemegang saham mayoritas TGI. TGI (“PGN”) – the majority shareholder. TGI began
mulai mengoperasikan Jaringan Pipa Transmisi operating the GD Pipeline on the date of the
GD sejak tanggal Perjanjian Pengalihan Aset, Asset Transfer Agreement, which was on
yaitu tanggal 9 Maret 2002, dan Jaringan Pipa March 9, 2002 and the GS Pipeline on the date
Transmisi GS sejak tanggal pengalihan aset, of asset transfer, which was on June 2, 2004.
yaitu tanggal 2 Juni 2004.
Pada tanggal 19 Juni 2025, Transasia telah On June 19, 2025, Transasia received a
menerima pembayaran dividen dari TGI sebesar dividend payment from TGI amounting to
AS$25,3 juta. US$25.3 million.
105
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2025 Management Business Company Corporate
272 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
a. Entitas asosiasi dan ventura bersama – metode a. Associate and join ventures – equity method
ekuitas (lanjutan) (continued)
PT Transportasi Gas Indonesia (lanjutan) PT Transportasi Gas Indonesia (continued)
Efektif sejak Desember 2025, Grup, melalui MLI, Effective December 2025, the Group effectively
secara efektif memiliki 40% kepemilikan atas owned 40% investment of the subscribed shares
saham yang ditempatkan di TGI (lihat Catatan in TGI through MLI (see note 1d).
1d).
Berdasarkan hasil penelaahan atas investasi di Based on the review for investment in TGI at the
TGI pada akhir tahun, manajemen berpendapat end of the year, management believes that the
bahwa jumlah terpulihkan investasi melebihi recoverable amount exceeds its the book value,
nilai tercatatnya sehingga tidak diperlukan therefore, there is no provision for impairment
cadangan penurunan nilai pada tanggal 31 needed as December 31, 2025 and 2024.
Desember 2025 dan 2024.
b. Investasi ekuitas pada nilai wajar melalui laba b. Equity investments at fair value through profit or
rugi loss
Grup memiliki investasi saham (saham tidak The Group has investments in shares of stock
diperdagangkan) yang diklasifikasikan oleh Grup (unlisted shares) that are classified by the Group
sebagai aset keuangan yang diukur pada nilai as financial assets at fair value through profit or
wajar melalui laba rugi sesuai dengan PSAK loss in accordance with PSAK 109, with details
109, dengan rincian sebagai berikut: as follows:
PT Donggi Senoro LNG (“DSLNG”) PT Donggi Senoro LNG (“DSLNG”)
Perusahaan melalui anak perusahaannya, PT The Company, through its subsidiary, PT Medco
Medco LNG Indonesia (“MLI”) memiliki 11,11% LNG Indonesia (“MLI”) holds a 11.11% interest
saham DSLNG, sebuah perusahaan yang in the equity of DSLNG, a company which was
didirikan pada Desember 2007 untuk established in December 2007 to produce LNG
memproduksi LNG dengan persediaan dasar with gas feed stock from Donggi and Senoro gas
gas dari lapangan gas Donggi dan Senoro. fields. DSLNG started commercial operations in
DSLNG mulai beroperasi secara komersial pada July 2015.
Juli 2015.
Asumsi-asumsi utama yang digunakan Key assumptions used
Perhitungan nilai wajar penyertaan saham pada The calculation of fair value of the investment in
tanggal 31 Desember 2025 dan 2024 dilakukan shares of stock as of December 31, 2025 and
oleh penilai independen berdasarkan proyeksi 2024 are performed by independent appraiser
arus kas yang didiskontokan dari rencana bisnis based on discounted cash flow projections from
yang mencakup periode kontrak jangka panjang the business plan covering the long-term
dan metode guideline publicly traded companies contract period and guideline publicly traded
(GPTC). Penilaian tersebut memerlukan companies (GPTC) method. The assessment
penggunaan estimasi dan asumsi seperti tingkat require the use of estimates and assumptions
diskonto, harga gas, cadangan, beban modal, such as discount rate, gas prices, reserves,
biaya operasi dan kinerja operasi (termasuk capital expenses, operating costs and operating
volume produksi dan penjualan). Perhitungan performance (which includes production and
nilai wajar dikategorikan level 3 dari hirarki nilai sales volumes). The calculation of fair value is
wajar. categorized level 3 of the fair value hierarchy.
106
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 273
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
b. Investasi ekuitas pada nilai wajar melalui laba b. Equity investments at fair value through profit or
rugi (lanjutan) loss (continued)
PT Donggi Senoro LNG (“DSLNG”) (lanjutan) PT Donggi Senoro LNG (“DSLNG”)
(continued)
Paragraf berikut menunjukkan informasi tentang The following paragraph shows the information
input signifikan yang tidak dapat diobservasi. about significant unobservable inputs.
a. Tingkat diskonto a. Discount rate
Pada tanggal 31 Desember 2025 dan 2024, As at December 31, 2025 and 2024, the pre-
tingkat diskonto sebelum pajak yang tax discount rate applied to the cash flow
diterapkan pada proyeksi arus kas berada projection is within the range of 7.65% and
pada kisaran 7,65% dan 9,12%. 9.12%.
b. Harga LNG b. LNG prices
Perkiraan harga LNG didasarkan pada Forecasted LNG prices are based on
perkiraan manajemen, data transaksi seperti management’s estimates, transaction data
perjanjian penjualan dan data pasar yang such as sales agreements and available
tersedia. market data.
c. Pengeluaran modal, biaya operasi dan c. Capital expenses, operating costs and
kinerja operasi operating performances
Asumsi-asumsi ini didasarkan pada kinerja These assumptions are based on the
operasi Perusahaan, beban modal dan Company’s operating performance, capital
rencana anggaran. Manajemen memiliki expenses and budget plan. The
kendali penuh atas biaya, dan yakin bahwa management has full control over the costs,
asumsi tersebut cukup wajar dan akan dapat and believes the assumptions are
dicapai. reasonable and will be achievable.
d. Cadangan d. Reserves
Asumsi ini didasarkan pada laporan These assumptions are based on the
cadangan dan informasi dari konsultan reserves report and information from
cadangan independen dan teknis. independent reserves and technical
consultants.
Perubahan asumsi yang digunakan oleh Changes to the assumptions used by the
manajemen untuk menentukan nilai wajar, management to determine the fair value, in
khususnya tingkat diskonto, dapat berdampak particular the discount rate, can have significant
signifikan terhadap hasil penilaian nilai wajar. impact on the result of the fair value
assessment.
Manajemen berpendapat bahwa tidak ada Management is of the opinion that there was no
kemungkinan perubahan yang wajar atas salah reasonably possible change in any of the key
satu asumsi utama yang disebutkan di atas assumptions stated above that would cause the
yang akan menyebabkan jumlah tercatat secara carrying amount to materially exceed its
material melebihi jumlah terpulihkannya. recoverable amount.
Pada tanggal 12 Juni 2024, PT MLI telah On June 12, 2024, PT MLI received a dividend
menerima pembayaran dividen dari DSLNG payment from DSLNG amounting to US$18.87
sebesar AS$18,87 juta. million.
Pada Desember 2024, DSLNG (sebagai pihak In December 2024, DSLNG (as the buyer) and
pembeli) dan PT MLI (sebagai pihak penjual) PT MLI (as the seller) mutually agreed the sale
bersama-sama sepakat untuk transaksi jual dan and purchase of 140,970 shares of DSLNG at
beli saham DSLNG sebanyak 140.970 lembar the total amount of US$14.1 million.
dengan nilai total AS$14,1 juta.
Pada tanggal 13 Juni 2025, PT MLI telah On June 13, 2025, PT MLI received a dividend
menerima pembayaran dividen dari DSLNG payment from DSLNG amounting to
sebesar AS$20,6 juta. US$20.6 million.
107
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2025 Management Business Company Corporate
274 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
b. Investasi ekuitas pada nilai wajar melalui laba b. Equity investments at fair value through profit or
rugi (lanjutan) loss (continued)
PT Donggi Senoro LNG (“DSLNG”) (lanjutan) PT Donggi Senoro LNG (“DSLNG”)
(continued)
Pada Oktober 2025, DSLNG (sebagai pihak In October 2025, DSLNG (as the buyer) and PT
pembeli) dan PT MLI (sebagai pihak penjual) MLI (as the seller) mutually agreed the sale and
bersama-sama sepakat untuk transaksi jual dan purchase of 188,700 shares of DSLNG at the
beli saham DSLNG sebanyak 188.700 lembar total amount of US$18.87 million.
dengan nilai total AS$18,87 juta.
PT Sumber Mineral Citra Nusantara PT Sumber Mineral Citra Nusantara
(“SMCN”) (“SMCN”)
Pada 29 November 2024, Perusahaan (sebagai On November 29, 2024, the Company (as the
pihak Penjual) menandatangani Perjanjian Jual Seller) has entered into a conditional share sale
Beli Kepemilikan Saham Bersyarat (“CSPA”) and purchase agreement (CSPA) with PT Citra
dengan PT Citra Inti Niaga (“CIN”) sebagai pihak Inti Niaga (“CIN”) as the Purchaser, an unrelated
pembeli, yang merupakan pihak tidak berelasi party and as the majority shareholder of SMCN,
sekaligus sebagai pemegang saham mayoritas to sell the Company’s 18% ownership in SMCN
SMCN, untuk melepas 18% kepemilikan saham to CIN for (1) a consideration of US$115.6
Perusahaan di SMCN kepada CIN sebesar (1) million, which amount shall be received at the
sejumlah AS$115,6 juta, yang akan diterima latest April 30, 2025, and (2) an additional
paling lambat 30 April 2025, dan (2) contingent payment, payable to the Seller on the
pembayaran kontingen tambahan, yang akan second anniversary of the first shipment of
dibayarkan kepada Penjual pada tahun kedua concentrate (or any other form of sealable
dari pengiriman pertama konsentrat (atau copper, gold or silver product) produced from
bentuk lain dari produk tembaga, emas atau Elang mine (“the First Commercial Shipment”),
perak yang tersegel) yang diproduksi dari subject to the performance and the timing of the
wilayah pengembangan Elang (Pengiriman First Commercial Shipment. The decision to sell
Komersial Pertama) tergantung kepada kinerja the investment in SMCN is in line with the
dan waktu terhadap Pengiriman Komersial Company’s strategy to monetize the investment
Pertama. Keputusan untuk melepas investasi di in SMCN. As of December 31, 2024, the
SMCN selaras dengan strategi Perusahaan Company classified the investment in SMCN
untuk memonetisasi investasi di SMCN. Sampai shares as short-term investment. Subsequently,
dengan 31 Desember 2024, Perusahaan the Group has received the full settlement.
mengklasifikasikan investasi di SMCN sebagai
investasi jangka pendek. Selanjutnya, Grup
telah menerima pelunasan penuh.
Asumsi-asumsi utama yang digunakan Key assumptions used
Perhitungan nilai wajar penyertaan saham pada The calculation of fair value of the investment in
ditentukan menggunakan pendekatan pasar shares of stock is determined using market
dengan menggunakan metode guideline publicly approach using guideline publicly traded
traded companies (“GPTC”) berdasarkan companies (“GPTC”) method based on
laporan penilai independen. Berdasarkan independent appraisal report. Under the market
metode pendekatan pasar GPTC, nilai wajar approach GPTC method, the fair value is
diperoleh dari harga perdagangan sejumlah derived from trading price multiples of selected
perusahaan publik yang sebanding (yaitu: set of comparable public companies (i.e.:
perusahaan pemandu) dengan objek penilaian guideline companies) to the valuation object at
pada tanggal penilaian. Perbandingan rasio the valuation date. The comparative ratios used
yang digunakan adalah Price to Earning, Price are Price to Earnings, Price to Sales and Market
to Sales dan Market Value of Invested Capital to Value of Invested Capital to Book Value of
Book Value of Invested Capital. Perhitungan Invested Capital. The calculation of fair value is
nilai wajar dikategorikan level 3 dari hirarki nilai categorized level 3 of the fair value hierarchy.
wajar.
108
Page 277
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 275
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
14. INVESTASI PADA SAHAM (lanjutan) 14. INVESTMENT IN SHARES (continued)
b. Investasi ekuitas pada nilai wajar melalui laba b. Equity investments at fair value through profit or
rugi (lanjutan) loss (continued)
PT Sumber Mineral Citra Nusantara PT Sumber Mineral Citra Nusantara
(“SMCN”) (lanjutan) (“SMCN”) (continued)
Perubahan asumsi yang digunakan oleh Changes to the assumptions used by the
manajemen untuk menentukan nilai wajar, management to determine the fair value, in
khususnya harga pasar, dapat berdampak particular the market prices, can have significant
signifikan terhadap hasil penilaian nilai wajar. impact on the result of the fair value
assessment.
Manajemen berpendapat bahwa tidak ada Management is of the opinion that there was no
kemungkinan perubahan yang wajar atas salah reasonably possible change in any of the key
satu asumsi utama yang disebutkan di atas assumptions stated above that would cause the
yang akan menyebabkan jumlah tercatat secara carrying amount to materially exceed its
material melebihi jumlah terpulihkannya. recoverable amount.
15. ASET TETAP 15. PROPERTY, PLANT AND EQUIPMENT
S
Akun ini terdiri dari sebagai berikut: This account consists of the following:
2025
Saldo Akhir 31
Saldo Awal 1 Desember
Januari 2025/ Penjabaran 2025/
Beginning Laporan Ending
Balance Keuangan/ Balance
January 1, Penambahan/ Pengurangan/ Reklasifikasi/ Translation December 31,
2025 Additions Deductions Reclassification Adjustments 2025
Biaya Perolehan Acquisition Cost
Tanah 10.291.408 – – 54.021 (161.927) 10.183.502 Land
Bangunan dan prasarana 11.492.304 869.482 (10.925) – (106.628) 12.244.233 Buildings and improvements
Mesin 42.654.559 5.250.383 (12.700.650) – (1.484.228) 33.720.064 Machinery
Perlengkapan pengeboran,
marine vessels, dan Drilling rigs, marine
peralatan 52.449.350 192.647.923 – – – 245.097.273 vessels, and equipments
Kendaraan bermotor 4.386.792 544.559 (115.882) – (91.516) 4.723.953 Vehicles
Peralatan kantor dan
lainnya 19.454.982 2.227.653 (1.049.169) 27.760 (264.176) 20.397.050 Office and other equipment
Leasehold improvements 14.506.686 – (284.711) – (156.352) 14.065.623 Leasehold improvements
Peralatan 4.398.842 28.190 – – (791) 4.426.241 Tools
Aset Tetap dalam
Pembangunan 65.759.328 8.100.700 (283.516) (70.692.656) (27.510) 2.856.346 Construction in Progress
Jumlah Biaya Perolehan 225.394.251 209.668.890 (14.444.853) (70.610.875) (2.293.128) 347.714.285 Total Acquisition Costs
Akumulasi Penyusutan Accumulated Depreciation
Bangunan dan prasarana 7.535.212 581.643 (4.006) – (57.801) 8.055.048 Buildings and improvements
Mesin 21.541.831 5.837.360 (12.700.650) – (861.854) 13.816.687 Machinery
Perlengkapan pengeboran,
marine vessels, dan Drilling rigs, marine
peralatan 39.212.110 2.836.447 – (85.164) – 41.963.393 vessels, and equipments
Kendaraan bermotor 2.783.433 294.626 (115.882) 47.138 (54.619) 2.954.696 Vehicles
Peralatan kantor dan
lainnya 16.855.614 2.514.958 (553.033) 14.265 (175.992) 18.655.812 Office and other equipment
Leasehold improvements 6.409.241 2.313.132 (284.711) – (55.920) 8.381.742 Leasehold Improvements
Peralatan 3.095.939 21.053 – 36.502 – 3.153.494 Tools
Jumlah Akumulasi Total Accumulated
Penyusutan 97.433.380 14.399.219 (13.658.282) 12.741 (1.206.186) 96.980.872 Depreciation
Akumulasi Penurunan Nilai Accumulated Impairment
Penurunan Nilai 18.557.654 90.494.224 – – – 109.051.878 Impairment
Nilai Tercatat 109.403.217 141.681.535 Carrying Value
109
Page 278
2025 Management Business Company Corporate
276 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
15. ASET TETAP (lanjutan) 15. PROPERTY, PLANT AND EQUIPMENT
(continued)
Akun ini terdiri dari sebagai berikut: (lanjutan) This account consists of the following: (continued)
2024
Saldo Akhir 31
Saldo Awal 1 Desember
Januari 2024/ Penjabaran 2024/
Beginning Laporan Ending
Balance Keuangan/ Balance
January 1, Penambahan/ Pengurangan/ Reklasifikasi/ Translation December 31,
2024 Additions Deductions Reclassification Adjustments 2024
Biaya Perolehan Acquisition Cost
Tanah 10.030.608 445.408 – – (184.608) 10.291.408
10.291.408 Land
Bangunan dan prasarana 11.486.406 106.765 – – (100.867) 11.492.304
11.492.304 Buildings and improvements
Mesin 43.748.107 6.581.133 (6.206.003) – (1.468.678) 42.654.559
42.654.559 Machinery
Perlengkapan pengeboran,
marine vessels, dan Drilling rigs, marine
peralatan 53.094.234 195.468 (45.601) (794.751) – 52.449.350 vessels, and equipments
Kendaraan bermotor 2.785.180 1.719.268 (42.042) – (75.614) 4.386.792
4.386.792 Vehicles
Peralatan kantor dan
lainnya 18.623.660 1.505.558 (420.422) 189 (254.003) 19.454.982
19.454.982 Office and other equipment
Leasehold improvements 14.601.018 95.848 – – (190.180) 14.506.686
14.506.686 Leasehold Improvements
Peralatan 3.526.958 77.954 – 794.562 (632) 4.398.842
4.398.842 Tools
Aset Tetap dalam
Pembangunan 16.209.748 49.571.273 – – (21.693) 65.759.328
65.759.328 Construction in progress
Jumlah Biaya Perolehan 174.105.919 60.298.675 (6.714.068) – (2.296.275) 225.394.251
225.394.251 Total Acquisition Costs
Akumulasi Penyusutan Accumulated Depreciation
Buildings and
Bangunan dan prasarana 7.041.968 562.395 – – (69.151) 7.535.212
7.535.212 improvements
Mesin 21.993.353 5.749.972 (5.424.068) (35.579) (741.847) 21.541.831
21.541.831 Machinery
Perlengkapan pengeboran,
marine vessels, dan Drilling rigs, marine
peralatan 39.917.615 950.675 – (1.656.180) – 39.212.110 vessels, and equipments
Kendaraan bermotor 2.499.377 428.094 (37.082) (55.780) (51.176) 2.783.433
2.783.433 Vehicles
Peralatan kantor dan
lainnya 15.108.177 2.334.586 (370.708) (2.759) (213.682) 16.855.614
16.855.614 Office and other equipment
Leasehold improvements 4.137.471 2.326.804 – – (55.034) 6.409.241
6.409.241 Leasehold improvements
Peralatan 1.356.779 15.078 – 1.724.082 – 3.095.939
3.095.939 Tools
Jumlah Akumulasi Total Accumulated
Penyusutan 92.054.740 12.367.604 (5.831.858) (26.216) (1.130.890) 136.645.490
97.433.380 Depreciation
Akumulasi Penurunan Nilai Accumulated Impairment
Penurunan Nilai 17.375.873 1.181.781 – – – 18.557.654
18.557.654 Impairment
Nilai Tercatat 64.675.306 70.191.107
109.403.217 Carrying Value
Beban penyusutan dialokasikan sebagai berikut: Allocation of depreciation expense is as follows:
2025 2024
Operasi yang dilanjutkan Continuing Operations
Beban pokok penjualan dan Cost of revenues and other direct
biaya langsung lainnya 9.155.244 7.442.452 costs_-
Beban penjualan, umum dan Selling, general and administrative
administrasi (Catatan 36) 5.243.975 4.925.152 expenses (Note 36)
Jumlah 14.399.219 12.367.604 Total
110
Page 279
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 277
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
15. ASET TETAP (lanjutan) 15. PROPERTY, PLANT AND EQUIPMENT
(continued)
Tidak ada aset tetap yang digunakan sebagai There is no property, plant and equipment used as
jaminan atas utang yang diperoleh oleh collateral to the loans obtained by the Company
Perusahaan dan Entitas Anaknya. and its Subsidiaries.
Aset tetap dalam pembangunan Construction in progress
Aset dalam pembangunan sebagian besar Construction in progress mostly represents office
merupakan renovasi kantor dan konstruksi renovation and construction of preparation for solar
persiapan pembangkit listrik tenaga surya dengan power plant with details as follows:
keterangan sebagai berikut:
2025 2024
Mesin Machinery
Nilai tercatat 4.162.793 77.084.775 Carrying value
Persentase penyelesaian 4% 70 % Percentage of completion
Estimasi tahun penyelesaian 2029 2025 Estimated completion year
Manajemen berkeyakinan tidak terdapat hambatan Management believes that there will be no
dalam proses penyelesaian aset tetap dalam difficulties in the completion of the construction in
pembangunan. progress.
Tidak ada biaya pinjaman yang dikapitalisasi ke There were no borrowing costs capitalized to
aset tetap untuk tahun yang berakhir pada tanggal property, plant and equipment for the year ended
31 Desember 2025 dan biaya pinjaman yang December 31, 2025 and the borrowing costs
dikapitalisasi ke aset tetap untuk tahun yang capitalized to property, plant and equipment for the
berakhir pada tanggal 31 Desember 2024 adalah year ended December 31, 2024 amounted to
sebesar AS$1.867.400. Suku bunga efektif yang US$1,867,400. The effective interest rates used to
digunakan untuk menentukan biaya pinjaman yang determine the borrowing costs eligible for
dikapitalisasi sebesar 6,68% untuk tahun yang capitalization was 6.68% or the year ended
berakhir pada tanggal 31 Desember 2024. December 31, 2024.
Seluruh persediaan (Catatan 10) dan aset tetap, All inventories (Note 10) and property, plant and
kecuali tanah, termasuk aset tetap dalam perjanjian equipment, except land, including property, plant
mengandung sewa (Catatan 8) telah diasuransikan and equipment under an arrangement containing a
terhadap risiko kebakaran, pencurian dan risiko lease (Note 8) were insured against fire, theft and
lainnya dengan nilai pertanggungan sebesar other possible risks for US$1,5 billion and Rp332
AS$1,5 miliar dan Rp332 miliar pada tanggal 31 billion as of December 31, 2025 and US$1.4 billion
Desember 2025 dan AS$1,4 miliar dan Rp363,9 and Rp363.9 billion as of December 31, 2024.
miliar pada tanggal 31 Desember 2024. Manajemen Management believes that the insurance coverage
berkeyakinan bahwa nilai pertanggungan tersebut is adequate to cover possible losses on the assets
adalah cukup untuk menutupi kemungkinan insured.
kerugian atas aset yang dipertanggungkan.
Pada tanggal 31 Desember 2025 dan 2024 aset As of December 31, 2025 and 2024, the
tetap dalam pembangunan terutama merupakan construction in progress mainly represents
konstruksi mesin PT Energi Listrik Batam (ELB). construction of machinery of PT Energi Listrik
Aset dalam penyelesaian diestimasikan selesai Batam (ELB). Construction in progress is estimated
pada tahun 2025. to be fully completed in 2025.
111
Page 280
2025 Management Business Company Corporate
278 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
15. ASET TETAP (lanjutan) 15. PROPERTY, PLANT AND EQUIPMENT
(continued)
Pada tanggal 31 Desember 2025 dan 2024, biaya As of December 31, 2025 and 2024, the cost of
perolehan aset tetap yang telah disusutkan penuh property, plant and equipment that have been fully
namun masih digunakan oleh Grup masing-masing depreciated but are still being used by the Group
sebesar AS$15 juta terdiri atas mesin dan peralatan amounted to US$15 million, respectively, consisting
kantor dan lainnya. of machinery and office and other equipment.
Pada tanggal 31 Desember 2025, Grup melakukan As of December 31, 2025, the Group assessed
penelaahan atas indikasi penurunan nilai aset tetap indications of impairment of property, plant and
sesuai dengan PSAK 236. Berdasarkan evaluasi equipment in accordance with PSAK 236. Based on
manajemen, terdapat indikasi penurunan nilai yang management’s evaluation, indications of impairment
terutama disebabkan oleh perubahan asumsi were identified, primarily due to changes in oper-
operasi dan proyeksi arus kas dari PT Mitra Energi ating assumptions and cash flow projections of PT
Pelayaran (“MEP”) dan Grup mengakui kerugi Mitra Energi Pelayaran (“MEP”), and the Group
penurunan nilai sebesar AS$90.494.224, yang recognized an impairment loss of US$90,494,224,
dicatat sebagai Kerugian Penurunan Nilai Asset. which was recorded under Loss on Impairment of
Jumlah terpulihkan pada tanggal 31 Desember Assets. The recoverable amount as of December
2025 ditentukan berdasarkan perhitungan arus kas 31, 2025 was determined based on post-tax
diskonto setelah pajak. Arus kas didiskontokan discounted cash flows (“DCF”) calculations. The
dengan tingkat diskonto sebelum pajak sebesar cash flows were discounted at a rate of 8.39% for
8,39% untuk MEP. MEP.
Pada 31 Desember 2025 dan 2024, manajemen As of December 31, 2025 and 2024, the
berpendapat bahwa penyisihan penurunan nilai management is of the opinion that the allowance for
yang dicadangkan adalah cukup dan tidak impairment losses were adequate and no further
diperlukan penurunan nilai lebih lanjut atas aset impairment on the remaining property, plant and
tetap lainnya. equipment is necessary.
16. ASET HAK GUNA 16. RIGHT-OF-USE ASSETS
Grup menyewa beberapa aset termasuk peralatan The Group leases several assets including
kantor dan lainnya, bangunan dan prasarana, equipment, building and land improvements,
mesin, dan kendaraan, yang pada umumnya machinery and vehicles which generally have lease
memiliki masa sewa antara 2 sampai 13 tahun. terms between 2 to 13 years.
Grup mempunyai sewa tertentu dengan masa sewa The Group also has certain leases with lease terms
12 bulan atau kurang dan sewa bernilai rendah. of 12 months or less and low value leases. The
Grup menerapkan pengecualian pengakuan sewa Group applies the short-term lease and lease of
jangka pendek dan sewa bernilai rendah untuk low-value assets recognition exemptions for these
sewa tersebut. leases.
112
Page 281
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 279
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
16. ASET HAK GUNA (lanjutan) 16. RIGHT-OF-USE ASSETS (continued)
Nilai tercatat untuk aset hak guna adalah sebagai The carrying value of right-of-use assets are as
berikut: follows:
2025
Saldo Awal Saldo Akhir 31
1 Januari Desember
2025/ Penjabaran 2025/
Beginning Laporan Ending
Balance Keuangan/ Balance
January 1, Penambahan/ Pengurangan/ Translation December 31,
2025 Additions Deductions Adjustments 2025
Biaya perolehan At cost
Bangunan dan prasarana 42.840.212 28.975.328 (18.368.403) (36.556) 53.410.581 Building and land improvements
Mesin 314.720.108 58.481.313 (162.932.995) – 210.268.426 Machinery
Peralatan 7.560.699 2.655.524 (247.449) – 9.968.774 Equipment
Kendaraan 131.284.749 7.392.216 (15.648.411) 6.337 123.034.891 Vehicles
Jumlah 496.405.768 97.504.381 (197.197.258) (30.219) 396.682.672 Total
Akumulasi penyusutan Accumulated depreciation
Bangunan dan prasarana 32.656.771 9.402.075 (18.368.403) (57.080) 23.633.363 Building and land improvements
Mesin 185.227.168 86.370.674 (162.932.995) – 108.664.847 Machinery
Peralatan 2.325.943 1.892.505 (247.449) – 3.970.999 Equipment
Kendaraan 40.967.588 30.434.464 (15.648.410) 12.304 55.765.946 Vehicles
Jumlah 261.177.470 128.099.718 (197.197.257) (44.776) 192.035.155 Total
Nilai tercatat 235.228.298 204.647.517 Carrying value
2024
Saldo Awal Reklasifikasi Saldo Akhir
1 Januari ke operasi 31 Desember
2024/ Penjabaran yang 2024/
Beginning Laporan dihentikan/ Ending
Balance Keuangan/ Reclass to Balance
January 1, Penambahan/ Pengurangan/ Translation Discontinued December 31,
2024 Additions Deductions Adjustments Operations 2024
Biaya perolehan At cost
Building and land
Bangunan dan prasarana 44.800.924 5.533.416 (6.480.498) (135.411) (878.219) 42.840.212 improvements
Mesin 275.734.219 110.148.607 (71.162.718) – – 314.720.108 Machinery
Peralatan 8.683.314 787.917 (1.910.532) – – 7.560.699 Equipment
Kendaraan 119.145.440 41.976.970 (29.319.472) (60.220) (457.969) 131.284.749 Vehicles
Jumlah 448.363.897 158.446.910 (108.873.220) (195.631) (1.336.188) 496.405.768 Total
Akumulasi penyusutan Accumulated depreciation
Building and land
Bangunan dan prasarana 30.669.763 9.317.109 (6.480.498) (83.157) (766.446) 32.656.771 improvements
Mesin 158.914.543 97.475.343 (71.162.718) – – 185.227.168 Machinery
Peralatan 2.272.866 1.963.609 (1.910.532) – – 2.325.943 Equipment
Kendaraan 41.229.771 29.250.406 (29.319.472) 7.434 (200.551) 40.967.588 Vehicles
Jumlah 233.086.943 138.006.467 (108.873.220) (75.723) (966.997) 261.177.470 Total
Nilai tercatat 215.276.954 235.228.298 Carrying value
Pada tanggal 31 Desember 2025 dan 2024, Grup As of December 31, 2025 and 2024, the Group
mengakui aset hak guna atas sewa dengan PT Api recognized right-of-use assets related to leases
Metra Graha (pihak berelasi) masing-masing with PT Api Metra Graha (related party) amounting
sebesar AS$24.093.205 dan AS$9.274.534. to US$24,093,205 and US$9,274,534, respectively.
113
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2025 Management Business Company Corporate
280 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
16. ASET HAK GUNA (lanjutan) 16. RIGHT-OF-USE ASSETS (continued)
Beban penyusutan untuk asset hak guna yang Depreciation expenses of right-of-use assets have
diakui pada laporan laba rugi: been charged to the statement of profit or loss as
follows:
2025 2024
Beban pokok penjualan dan biaya
langsung lainnya 44.850.071 46.265.876 Cost of revenue and other direct costs
Beban penjualan, umum dan Selling, general and administrative
administrasi (Catatan 36) 2.743.515 2.804.583 expenses (Note 36)
Jumlah 47.593.586 49.070.459 Total
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan evaluasi manajemen, tidak terdapat management’s assessment, there are no
indikasi atau tidak ada faktor yang signifikan bahwa circumstances or no significant factors that would
nilai tercatat aset hak guna mengalami penurunan indicate the carrying value of right-of-use assets
nilai. may be impaired.
17. ASET EKSPLORASI DAN EVALUASI 17. EXPLORATION AND EVALUATION ASSETS
Jumlah/
Amount
Saldo akhir 31 Desember 2023/ Ending balance, December 31, 2023/
Saldo awal 1 Januari 2024 241.321.738 Beginning balance, January 1, 2024
Penambahan 15.601.090 Additions
Direklasifikasi ke aset minyak dan gas bumi (10.362.395) Reclassified to oil and gas properties
Pelepasan hak partisipasi (5.000.000) Divestment of participating interest
Saldo akhir 31 Desember 2024 241.560.433 Ending balance, December 31, 2024
Penambahan 76.048.155 Additions
Akuisisi entitas anak (Catatan 48) 5.269.179 Acquisition of subsidiaries (Note 48)
Direklasifikasi ke aset minyak dan gas bumi (238.981) Reclassified to oil and gas properties
Pelepasan hak partisipasi (3.000.000) Divestment of participating interest
Penurunan nilai (9.121.893) Impairment
Sumur kering (7.825.731) Dry hole
Saldo akhir 31 Desember 2025 302.691.162 Ending balance, December 31, 2025
Berdasarkan penelaahan aset eksplorasi dan Based on the review of exploration and evaluation
evaluasi, manajemen berkeyakinan tidak diperlukan assets, management believes that no further
penurunan nilai lebih lanjut untuk aset eksplorasi impairment of exploration and evaluation assets as
dan evaluasi pada tanggal 31 Desember 2025 dan of December 31, 2025 and 2024 is necessary.
2024.
Akuisisi entitas anak selama tahun 2025 Acquisition of subsidiaries in 2025 involving
merupakan penambahan terkait akuisisi acquisition of participating interest in Corridor PSC.
participating interest pada PSC Corridor. Dengan Through the acquisition, the Group has been able
akuisisi ini Grup telah meningkatkan participating to increase its participating interest in Corridor PSC
interest dalam PSC Corridor dari 46% menjadi from 46% to 70%.
70%.
114
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 281
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
18. ASET MINYAK DAN GAS BUMI 18. OIL AND GAS PROPERTIES
a. Aset Minyak dan Gas Bumi a. Oil and Gas Properties
Akun ini terdiri dari sebagai berikut: This account consists of the following:
2025 2024
Sumur dan perlengkapan terkait dan Wells and related equipment and
fasilitasnya 5.968.306.499 5.048.097.050 facilities
Sumur, perlengkapan dan fasilitas Uncompleted wells, equipment and
dalam pengerjaan 286.307.267 387.569.600 facilities
Operated acreage 402.155.092 402.155.092 Operated acreage
Peralatan dan gudang 15.503.028 23.060.783 Equipment and warehouse
Kendaraan bermotor 326.886 326.886 Vehicles
Jumlah 6.672.598.772 5.861.209.411 Total
Akumulasi penyusutan, deplesi dan Accumulated depreciation, depletion
amortisasi dan cadangan and amortization and impairment
penurunan nilai (3.684.944.417) (3.189.089.334) reserves
Nilai Tercatat 2.987.654.355 2.672.120.077 Carrying Amount
2025
Saldo Awal 1
Januari 2025/ Saldo Akhir 31
Beginning Desember 2025/
Balance Ending Balance
Lokasi/ January 1, Penambahan/ Pengurangan/ December 31,
Area Kepemilikan Location 2025 Additions Deductions 2025 Area of Interest
Blok A Aceh 274.136.295 7.494.424 24.901.355 256.729.364 Block A
Grissik1) Sumatera 687.820.712 517.884.641 177.786.979 1.027.918.374 Grissik
Sumatera Selatan Sumatera 31.448.033 5.447.645 10.462.997 26.432.681 South Sumatera
Rimau Sumatera 22.613.069 5.798.636 3.124.016 25.287.689 Rimau
Lematang Sumatera 3.697.361 311.166 1.618.375 2.390.152 Lematang
Senoro-Toili Sulawesi 151.864.350 28.111.628 23.824.585 156.151.393 Senoro-Toili
Tarakan Kalimantan 5.147.687 4.801.243 3.251.843 6.697.087 Tarakan
Bangkanai Kalimantan 209.440.597 673.398 7.037.594 203.076.401 Bangkanai
Blok B Riau Islands 412.407.852 74.774.586 106.922.872 380.259.566 Block B
Madura East Java 27.110.505 – 12.985.380 14.125.125 Madura
Bualuang Thailand 224.715.445 55.204.210 43.822.461 236.097.194 Bualuang
Blok 9 Yemen 7.309.757 – – 7.309.757 Block 9
Blok 60 Oman 609.567.624 125.068.704 93.394.344 641.241.984 Block 60
Berbagai Lokasi/
Lain-lain Various Location 4.840.790 97.505 1.000.707 3.937.588 Others
2.672.120.077 825.667.786 510.133.508 2.987.654.355
1) Penambahan termasuk akuisisi 24% participating interest di Block Corridor 1) Additions include acquisition 24% participating interest in Block Corridor
sebesar AS$427.730.821 (Catatan 48). amounting to US$427,730,821 (Note 48).
115
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2025 Management Business Company Corporate
282 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
18. ASET MINYAK DAN GAS BUMI (lanjutan) 18. OIL AND GAS PROPERTIES (continued)
a. Aset Minyak dan Gas Bumi (lanjutan) a. Oil and Gas Properties (continued)
Akun ini terdiri dari sebagai berikut: (lanjutan) This account consists of the following:
(continued)
2024
Saldo Awal 1 Saldo Akhir 31
Januari 2024 Desember
Beginning 2024/
Balance Ending Balance
Lokasi/ January 1, Penambahan/ Pengurangan/ December 31,
Area Kepemilikan Location 2024 Additions Deductions 2024 Area of Interest
Blok A Aceh 300.865.035 7.904.060 34.632.800 274.136.295 Block A
Grissik Sumatera 829.588.882 44.796.401 186.564.571 687.820.712 Grissik
Sumatera Selatan Sumatera 32.034.063 10.166.658 10.752.688 31.448.033 South Sumatera
Rimau Sumatera 22.675.225 3.508.929 3.571.085 22.613.069 Rimau
Lematang Sumatera 5.491.624 469.144 2.263.407 3.697.361 Lematang
Senoro-Toili Sulawesi 152.384.478 22.828.446 23.348.574 151.864.350 Senoro-Toili
Tarakan Kalimantan 3.166.375 3.771.380 1.790.068 5.147.687 Tarakan
Simenggaris1) Kalimantan 68.491.656 3.762.510 72.254.166 – Simenggaris
Bangkanai Kalimantan 231.186.535 1.049.717 22.795.655 209.440.597 Bangkanai
Kepulauan Riau/
Blok B Riau Islands 343.730.180 122.880.712 54.203.040 412.407.852 Block B
Jawa Timur/
Madura East Java 17.202.791 20.218.152 10.310.438 27.110.505 Madura
Bualuang Thailand 238.606.362 25.611.037 39.501.954 224.715.445 Bualuang
Blok 9 Yaman/Yemen 7.288.565 22.073 881 7.309.757 Block 9
Blok 60 Oman 626.457.750 74.948.274 91.838.400 609.567.624 Block 60
Berbagai Lokasi/
Lain-lain Various Location 222.743 6.663.844 2.045.797 4.840.790 Others
2.879.392.264 348.601.337 555.873.524 2.672.120.077
1) Pengurangan termasuk reklasifikasi ke aset yang dimiliki untuk dijual dan 1) Deductions include reclassification to assets held for sale and discontinued
operasi yang dihentikan (Catatan 39). operations (Note 39).
Pada tahun 2025, Grup merevisi estimasi cadangan In 2025, the Group revised the estimated proved
terbukti dan terduga (P1 dan P2) di wilayah kerja and probable reserves (P1 and P2) in Senoro-Toili,
Senoro-Toili, Bangkanai dan Corridor berdasarkan Bangkanai and Corridor area based on the
laporan penilai independen yang diperoleh dari independent appraisal reports from independent
konsultan teknik independen perusahaan serta di technical consultants as well as in Rimau, South
wilayah kerja Rimau, Sumatera Selatan, Lematang, Sumatera, Lematang, Tarakan, Block A, Block B,
Tarakan, Blok A, Blok B, Sampang, Madura, Sampang, Madura, Bualuang and Oman Block 60
Bualuang dan Oman Blok 60 berdasarkan laporan area based on the Company’s internal report. As a
internal Perusahaan. Penyesuaian atas saldo result, the depletion expense decreased by
estimasi cadangan tersebut menurunkan beban US$115.3 million.
deplesi sebesar AS$115,3 juta.
Pada tahun 2024, Grup merevisi estimasi cadangan In 2024, the Group revised the estimated proved
terbukti dan terduga (P1 dan P2) di wilayah kerja and probable reserves (P1 and P2) in Senoro-Toili
Senoro-Toili dan Blok A berdasarkan laporan and Block A area based on the independent
penilai independen yang diperoleh dari konsultan appraisal reports from independent technical
teknik independen perusahaan serta di wilayah consultants as well as in Rimau, South Sumatera,
kerja Rimau, Sumatera Selatan, Lematang, Lematang, Tarakan, Block B, Sampang, Bangkanai,
Tarakan, Blok B, Sampang, Bangkanai, Madura, Madura, Grissik, Bualuang and Oman Block 60
Grissik, Bualuang dan Oman Blok 60 berdasarkan area based on the Company’s internal report. As a
laporan internal Perusahaan. Penyesuaian atas result, the depletion expense decreased by
saldo estimasi cadangan tersebut menurunkan US$88.9 million.
beban deplesi sebesar AS$88,9 juta.
116
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 283
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
18. ASET MINYAK DAN GAS BUMI (lanjutan) 18. OIL AND GAS PROPERTIES (continued)
a. Aset Minyak dan Gas Bumi (lanjutan) a. Oil and Gas Properties (continued)
Dampak perubahan estimasi cadangan terbukti The impact of the change in the estimated
dan terduga (P1 dan P2) tersebut pada periode proved and probable reserves (P1 and P2) in
mendatang menambah (mengurangi) beban the future periods is addition (deduction) to the
deplesi sebagai berikut: depletion expenses as follows:
Jumlah/
Amount
Tahun Year
2026 (133.377.694) 2026
2027 (38.542.935) 2027
2028 105.892.981 2028
2029 34.626.586 2029
2030 28.943.038 2030
Jumlah (2.458.024) Total
Tidak terdapat beban bunga dan beban There is no interest and other financing costs
pendanaan lainnya yang dikapitalisasi sebagai that are capitalized as oil and gas properties for
aset minyak dan gas bumi untuk tahun yang the years ended December 31, 2025 and 2024.
berakhir pada 31 Desember 2025 dan 2024.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, all wells,
seluruh sumur, area tambang dan perlengkapan mining areas and related equipment and
dan fasilitas terkait yang dimiliki entitas anak facilities of subsidiaries involved in oil and gas
yang bergerak di bidang eksplorasi dan exploration and production are insured for
produksi minyak dan gas bumi diasuransikan US$13.8 billion US$13.2 billion, respectively.
dengan nilai pertanggungan masing-masing Management believes the insurance coverage
sebesar AS$13,8 miliar dan AS$13,2 miliar. is adequate to cover possible losses on the
Manajemen berkeyakinan bahwa nilai assets insured.
pertanggungan tersebut adalah cukup untuk
menutupi kemungkinan kerugian atas aset yang
dipertanggungkan.
b. Uji penurunan nilai atas aset eksplorasi dan b. Impairment test on exploration and evaluation
evaluasi, dan aset minyak dan gas bumi assets, and oil and gas properties
Pengujian penurunan nilai atas aset minyak dan Impairment test on oil and gas properties is
gas bumi dilakukan ketika terdapat suatu performed when circumstances indicate that the
indikasi bahwa nilai tercatat aset minyak dan CGU’s carrying value may be impaired. In this
gas bumi tersebut mengalami penurunan. matter, the management of the Group
Dalam hal ini, manajemen Grup menentukan determined the participating interests in the
hak kepemilikan pada masing-masing blok respective blocks as a CGU.
sebagai satu UPK.
117
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2025 Management Business Company Corporate
284 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
18. ASET MINYAK DAN GAS BUMI (lanjutan) 18. OIL AND GAS PROPERTIES (continued)
b. Uji penurunan nilai atas aset eksplorasi dan b. Impairment test on exploration and evaluation
evaluasi, dan aset minyak dan gas bumi assets, and oil and gas properties (continued)
(lanjutan)
Grup mempertimbangkan berbagai faktor The Group considers various external and
eksternal dan internal ketika menelaah indikator internal factors when reviewing for indicators of
penurunan nilai, seperti perubahan signifikan impairment, such as significant changes with an
dengan dampak yang buruk pada entitas yang adverse effect on the entity have taken place
telah terjadi selama tahun berjalan, suku bunga during the year, market interest rates or other
pasar atau tingkat pengembalian investasi yang market rates of return on investments have
naik selama tahun berjalan, keusangan atau increased during the year, obsolescence or
kerusakan fisik suatu aset, analisa harga physical damage of an asset, analysis of actual
minyak dan gas bumi aktual, perkiraan harga oil and gas prices, forecasted oil prices and
minyak dan kecenderungan harga minyak trend of global oil prices, among other factors.
global dan faktor - faktor lainnya.
Pada tanggal 31 Desember 2024, manajemen As of December 31, 2024, management made
melakukan evaluasi atas jumlah terpulihkan dan an evaluation of the recoverable amount and
nilai tercatat atas minyak dan gas dan the carrying amount of oil and gas properties
membukukan penurunan nilai sebagai berikut: and recorded the impairment losses as follows:
2024
Jumlah
terpulihkan/ Penurunan nilai/
Recoverable Nilai tercatat/ Impairment
amount Carrying amount losses
Aset minyak dan gas
bumi Oil and gas properties
Simenggaris 1) 22.313.542 42.341.756 20.028.214 Simenggaris 1)
1) Disajikan sebagai aset yang dimiliki untuk dijual 1) Classified as assets held-for-sale
Mutasi cadangan penurunan nilai adalah Movements in allowance for impairment losses
sebagai berikut: are as follows:
2025 2024
Saldo awal 467.766.828 447.738.614 Beginning balance
Penurunan nilai tahun berjalan – 20.028.214 Impairment during the year
Saldo akhir 467.766.828 467.766.828 Ending balance
118
Page 287
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 285
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
18. ASET MINYAK DAN GAS BUMI (lanjutan) 18. OIL AND GAS PROPERTIES (continued)
b. Uji penurunan nilai atas aset eksplorasi dan b. Impairment test on exploration and evaluation
evaluasi, dan aset minyak dan gas bumi assets, and oil and gas properties (continued)
(lanjutan)
Grup memperhitungkan jumlah terpulihkan The Group calculated the recoverable amount
berdasarkan nilai pakai yang dihitung based on value in use calculation using cash
berdasarkan proyeksi arus kas. Nilai wajar flow projection. The fair value was determined
ditentukan dengan menggunakan perhitungan by using a post-tax discounted cashflow (“DCF”)
arus kas diskonto setelah pajak. calculation.
Proyeksi arus kas didasarkan pada produksi The cashflow projection is based on production
dan rencana pengembangan yang telah and development forecast approved by
disetujui oleh manajemen yang mencakup management covering the estimated period of
estimasi periode kontrak. Periode proyeksi contract. The period of projection ranges from 2
berkisar antara 2 - 28 tahun. - 28 years.
Asumsi yang digunakan Key assumptions used
Perhitungan nilai pakai untuk aset minyak dan The calculation of value in use for oil and gas
gas bumi sangat sensitif terhadap asumsi- properties is most sensitive to the following
asumsi di bawah ini: assumptions:
a. Lifting a. Lifting
b. Harga b. Prices
c. Tingkat diskonto c. Discount rates
d. Beban operasi dan modal d. Operating and capital expenses
Lifting: Lifting tahunan yang diproyeksikan ini Lifting: The projected annual lifting is based on
berdasarkan rencana bisnis manajemen dengan management business plan considering the
mempertimbangkan kondisi saat ini dan current conditions and future expectations.
ekspektasi masa depan.
Harga: Harga perkiraan minyak dan gas Prices: Forecasted oil and gas prices are based
didasarkan pada estimasi manajemen dan data on management’s estimation and available
pasar yang tersedia. market data.
Kenaikan sepuluh persen (10%) pada proyeksi The increase of ten percent (10%) in oil price
harga minyak akan menaikkan jumlah forecast will increase the recoverable amount of
terpulihkan aset minyak dan gas bumi sebesar oil and gas properties by US$223.6 million as of
AS$223,6 juta pada tanggal 31 Desember 2024. December 31, 2024.
Tingkat diskonto: Pada tanggal 31 Desember Discount rates: As of December 31, 2024 the
2024, tingkat diskonto sebelum pajak yang pre-tax discount rate applied to the cash flow
diterapkan pada proyeksi arus kas berada pada projection is within the range of 13.54% -
kisaran 13,54% - 23,15%. 23.15%.
Kenaikan satu persen (1%) pada tingkat The increase of one percent (1%) in discount
diskonto akan menurunkan jumlah terpulihkan rate will decrease the recoverable amount of oil
aset minyak dan gas bumi sebesar AS$173,4 and gas properties by US$173.4 million as of
juta pada tanggal 31 Desember 2024. December 31, 2024.
Beban operasi dan modal: Asumsi ini Operating and capital expenses: These
didasarkan pada perencanaan beban operasi assumptions are based on the Group’s
dan modal Grup. Manajemen memiliki kontrol operating and capital expenses plan. The
penuh atas biaya, dan percaya bahwa asumsi management has full control over the costs and
akan tercapai. believes that assumptions will be achievable.
119
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2025 Management Business Company Corporate
286 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
18. ASET MINYAK DAN GAS BUMI (lanjutan) 18. OIL AND GAS PROPERTIES (continued)
b. Uji penurunan nilai atas aset eksplorasi dan b. Impairment test on exploration and evaluation
evaluasi, dan aset minyak dan gas bumi assets, and oil and gas properties (continued)
(lanjutan)
Asumsi yang digunakan (lanjutan) Key assumptions used (continued)
Perubahan terhadap asumsi yang digunakan Changes to the assumptions used by the
oleh manajemen dalam menentukan jumlah management to determine the recoverable
terpulihkan, khususnya tingkat diskonto dan amount, in particular the discount rate and oil
harga minyak, dapat berdampak signifikan pada price, can have significant impact on the result
hasil pengujian. Manajemen berkeyakinan of the impairment assessment. Management is
bahwa tidak terdapat kemungkinan yang of the opinion that there was no reasonably
beralasan bahwa asumsi utama tersebut di atas possible change in any of the key assumptions
dapat berubah sehingga nilai yang terpulihkan stated above that would cause the recoverable
masing-masing UPK menjadi lebih rendah dari amount of the CGU to decline materially below
nilai yang tercatat secara material. its carrying amount.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan evaluasi manajemen, tidak management’s assessment, there are no
terdapat indikasi atau tidak ada faktor yang circumstances or no significant factors that
signifikan bahwa nilai tercatat aset minyak dan would indicate the carrying value of oil and gas
gas bumi mengalami penurunan nilai. assets may be impaired.
Berdasarkan penelaahan atas aset minyak dan Based on the review of the individual oil and gas
gas bumi secara individu, selain kerugian properties, other than the impairment losses
penurunan nilai yang diakui di atas, manajemen recognized above, the management believes
berkeyakinan bahwa tidak diperlukan that no further impairment in value of oil and gas
penurunan nilai lebih lanjut atas aset minyak properties is necessary as of December 31,
dan gas bumi pada tanggal 31 Desember 2024. 2025 and 2024.
19. GOODWILL 19. GOODWILL
Goodwill dicatat dari akuisisi operasi bisnis PT Goodwill was recorded as the part of the
Medco Power Internasional, ConocoPhillips acquisitions of the business operations of PT
Singapore Operations Pte Limited dan Fortuna Medco Power Internasional, ConocoPhillips
International (Barbados) Inc, yang menciptakan Singapore Operations Pte Limited and Fortuna
sinergi dengan portofolio Grup yang ada. International (Barbados) Inc, that created synergies
with the Group’s existing portfolio.
Goodwill tersebut tidak diharapkan dapat Goodwill is not expected to be deductible for tax
dikurangkan untuk tujuan pelaporan pajak. purposes.
Akuisisi Repsol Corridor S.A.U Acquisition of Repsol Corridor S.A.U
Pada tanggal 26 Juni 2025, Far East Energy On June 26, 2025, Far East Energy Trading Pte.
Trading Pte. Ltd. dan Repsol E&P S.a.r.l Ltd, and Repsol E&P S.a.r.l signed a Share Sale
menandatangani Perjanjian Jual Beli Saham untuk and Purchase Agreement to acquire Fortuna
mengakuisisi Fortuna International (Barbados), Inc. International (Barbados), Inc ("FIBI") which holds an
(“FIBI”) yang memiliki 24% partisipasi tidak indirect 24% participating interest in the Corridor
langsung pada Kontrak Kerja Sama (PSC) Corridor PSC, through Repsol Corridor S.A.U.
melalui Repsol Corridor S.A.U.
f
120
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 287
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
19. GOODWILL (lanjutan) 19. GOODWILL (Continued)
Akuisisi Repsol Corridor S.A.U (lanjutan) Acquisition of Repsol Corridor S.A.U
(continued)
Transaksi tersebut efektif pada tanggal 28 Juli The transaction above is effective on July 28, 2025.
2025. Berdasarkan alokasi harga pembelian, Based on the purchase price allocation, the
Perusahaan mengakui goodwill provisional atas Company recognized provisional goodwill from this
akuisisi ini sebesar AS$101.205.492 (Catatan 48). acquisition amounting to US$101,205,492 (Note
48).
Akuisisi PT Medco Power Internasional (“MPIn”) Acquisition of PT Medco Power Internasional
(“MPIn”)
Saldo goodwill dari akuisisi MPIn telah melalui The goodwill balance from the acquisition of MPIn
serangkaian transaksi, sehingga pada saat ini has been through series of transactions, resulted to
Perusahaan memiliki 100% kepemilikan langsung the current 100% ownership in MPIN by the
di MPIn, dimana MPIn memiliki 51% kepemilikan di Company, where MPIn has 51% ownership in MPI.
MPI. Selain itu, Perusahaan juga memiliki 49% On top of that, the Company also has 49% direct
kepemilikan langsung di MPI. Sisa saldo goodwill ownership in MPI. Goodwill balance from the
dari akuisisi MPIn sebesar AS$38.049.241. acquisition of MPIn amounted to US$38,049,241.
Akuisisi ConocoPhillips Singapore Operations Acquisition of ConocoPhillips Singapore
Pte Limited (“CSOP”) Operations Pte Limited (“CSOP”)
Pada tanggal 18 September 2016, Medco Natuna On September 18, 2016, Medco Natuna Pte. Ltd.
Pte. Ltd. menandatangani Share Purchase and signed a Share Purchase and Sale Agreement
Sale Agreement (“SPA”) dengan ConocoPhillips (“SPA”) with ConocoPhillips Indonesia Holding
Indonesia Holding Limited (“ConocoPhillips”) dan Limited (“ConocoPhillips”) and ConocoPhillips
ConocoPhillips Company, untuk mengakuisisi 100% Company, to acquire 100% shares of its
saham anak perusahaannya, ConocoPhillips subsidiaries, ConocoPhillips Singapore Operations
Singapore Operations Pte Limited (“CSOP”) Pte Limited (“CSOP”) with acquisition price
dengan nilai pembelian sebesar AS$1.000.000. amounting to US$1,000,000. Goodwill that was
Saldo goodwill yang timbul dari akuisisi ini sebesar recognized from this acquisition amounted to
AS$1.017.204. US$1,017,204.
Uji penurunan nilai terhadap Goodwill Impairment test on Goodwill
Dalam menguji apakah penurunan nilai goodwill In assessing whether impairment on goodwill is
diperlukan, nilai tercatat goodwill dialokasikan ke required, the carrying value of goodwill is allocated
aset atau UPK yang relevan untuk mendapatkan to the relevant assets or CGU to obtain combined
nilai tercatat kombinasian. Nilai tercatat carrying value. The combined carrying value is
kombinasian tersebut dibandingkan dengan nilai compared with CGU’s recoverable amount. The
terpulihkan UPK. Grup menguji penurunan nilai Group performs testing of goodwill impairment
goodwill setiap tahun (pada tanggal 31 Desember) annually (on December 31) or when circumstances
atau ketika keadaan yang mengindikasikan bahwa indicate that the carrying value may be impaired.
nilai tercatat mungkin mengalami penurunan nilai.
Grup mempertimbangkan berbagai faktor eksternal The Group considers various external and internal
dan internal ketika menelaah indikator penurunan factors when reviewing for indicators of impairment
nilai selama periode interim sehubungan UPK, during the interim period as it relates to the CGU,
seperti perubahan signifikan dengan dampak yang such as significant changes with an adverse effect
buruk pada entitas yang telah terjadi selama tahun on the entity have taken place during the year,
berjalan, suku bunga pasar atau tingkat market interest rates or other market rates of return
pengembalian investasi yang telah naik selama on investments thus have increased during the
tahun berjalan, keusangan atau kerusakan fisik year, obsolescence or physical damage of an asset
suatu aset dan kontrak jangka panjang dengan and long-term contracts with customers, among
pembeli dan faktor-faktor lainnya. other factors.
121
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2025 Management Business Company Corporate
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The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
19. GOODWILL (lanjutan) 19. GOODWILL (Continued)
Uji penurunan nilai terhadap Goodwill (lanjutan) Impairment test on Goodwill (continued)
Untuk tujuan pengujian penurunan nilai pada For impairment testing purposes on December 31,
tanggal 31 Desember 2025 dan 2024, jumlah 2025 and 2024, the recoverable amounts of the
terpulihkan UPK ditentukan berdasarkan “nilai CGU are determined based on “value-in-use” using
pakai” (value-in-use) dengan menggunakan metode discounted cash flows method. The following is the
arus kas yang didiskontokan. Berikut adalah summary of key assumptions used:
ringkasan dari asumsi utama yang digunakan:
Asumsi-asumsi utama yang digunakan Key assumptions used
PT Medco Power Internasional (“MPIn”) PT Medco Power Internasional (“MPIn”)
Jumlah terpulihkan UPK ditentukan berdasarkan The recoverable amount of the CGU has been
jumlah terpulihkan penilaian bisnis MPIn yang determined based on the recoverable amount of
terdiri dari MPI dan entitas anaknya dengan MPIn business valuation comprised of MPI and its
menggunakan proyeksi arus kas yang subsidiaries using discounted cash flow projections
didiskontokan dari rencana bisnis selama 11 from the business plan covering 11-year period to
sampai dengan 36 tahun yang merupakan periode 36-year period which represents contract period for
kontrak entitas-entitas tersebut dengan pelanggan. the respective entities with their customers.
a. Tingkat diskonto: tingkat diskonto sebelum a. Discount rate: the pre-tax discount rate used as
pajak yang digunakan pada tanggal 31 of December 31, 2025 and 2024 was 8.69% -
Desember 2025 dan 2024 masing-masing 11.76% and 7.81% - 11.15%, respectively
adalah 8,69% - 11,76% dan 7,81% - 11,15% derived from the post-tax weighted average
yang dihasilkan dari rata-rata biaya modal cost of capital (WACC) of the respective CGUs,
tertimbang setelah dikurangi pajak (WACC) with risk free rate of 5.33% - 6.70% and 5.61%
dari UPK, dengan tingkat bunga bebas risiko - 7.11%, respectively, and cost of debt of
masing-masing adalah 5,33% - 6,70% dan 6.00% - 8.44% and 6.39% - 9.21%,
5,61% - 7,11%, dan biaya utang masing- respectively, which are already adjusted based
masing adalah 6,00% - 8,44% dan 6,39% - on the current condition of MPI and its
9,21% yang sudah disesuaikan berdasarkan subsidiaries.
kondisi kini MPI dan entitas anaknya.
b. Harga listrik dan jasa perawatan: asumsi harga b. Electricity rates and maintenance service rates:
selama periode proyeksi berdasarkan data forecasted prices over the projection period are
historis dan estimasi manajemen atas fluktuasi based on historical rates and management’s
harga masa depan dan penyesuaian. estimates on future price fluctuation and
adjustments.
c. Biaya produksi listrik dan belanja modal: c. Electricity production costs and capital
asumsi ini berdasarkan biaya produksi historis expenditures: these assumptions are based on
dan rencana belanja modal. historical production costs and planned capital
expenditures.
Manajemen berpendapat bahwa tidak ada Management is of the opinion that there was no
kemungkinan perubahan yang wajar atas salah reasonably possible change in any of the key
satu asumsi utama yang disebutkan di atas yang assumptions stated above that would cause the
akan menyebabkan jumlah tercatat secara material carrying amount to materially exceed its
melebihi jumlah terpulihkannya. recoverable amount.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, based on
berdasarkan evaluasi manajemen, jumlah management’s assessment, the total recoverable
terpulihkan dari UPK lebih tinggi dari nilai tercatat amount of the CGU is higher than the CGU’s
UPK sehingga manajemen berpendapat tidak carrying amount. Therefore, management is of the
terdapat kerugian penurunan nilai yang diperlukan opinion that there are no impairment losses
atas goodwill dari akuisisi MPIn. necessary on the goodwill arising from MPIn
acquisition.
122
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 289
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
20. ASET LAIN-LAIN 20. OTHER ASSETS
Rincian akun ini adalah sebagai berikut: The details of this account are as follows:
2025 2024
Lancar Current
Uang muka kontrak kepada pihak
berelasi 62.346.323 86.649.781 Contract advance to a related party
Uang muka 8.399.345 30.965.972 Advances
Uang muka pemasaran 3.483.488 4.563.385 Marketing advance
Jumlah 74.229.156 122.179.138 Total
Tidak lancar Non-current
Investasi pada instrumen utang 89.569.973 - Investment in debt instruments
Uang muka atas liabilitas
pembongkaran aset dan restorasi Advance of asset abandonment and
area 38.996.531 27.299.707 site restoration obligation
Uang muka untuk pembelian/sewa 17.229.152 118.969.944 Advance payments for purchase/rental
Setoran jaminan 1.045.216 1.049.870 Security deposits
Lain-lain 5.627.285 1.149.018 Others
Jumlah 152.468.157 148.468.539 Total
Investasi Pada Instrumen Utang Investment In Debt Instruments
Tanggal jatuh
tempo/ Jumlah/Amount
Maturity date 2025 2024
Rupiah Rupiah
Oktober 2030/
Obligasi bunga tetap - Seri A October 2030 44.793.157 – Fixed rate bonds - Series A
Oktober 2032/
Obligasi bunga tetap - Seri B October 2032 44.776.816 – Fixed rate bonds - Series B
Jumlah 89.569.973 – Total
Pada bulan Oktober 2025, Grup berpartisipasi In October 2025, the Group participated in the
dalam penerbitan instrumen utang jangka panjang private issuance of long-term fixed-rate debt
dengan suku bunga tetap yang ditawarkan secara instruments by PT Danantara Investment
terbatas oleh PT Danantara Investment Management (Persero) (”DIM”) and subscribed to
Management (Persero) (”DIM”) dan menempatkan these debt instruments at a nominal value of Rp 1.5
dana pada instrumen utang tersebut pada nilai trillion. These debt instruments are government
nominal Rp 1.5 triliun. Instrumen utang tersebut debt instruments issued as part of a national
merupakan instrumen utang pemerintah yang funding program. These debt instruments bear a
diterbitkan sebagai bagian dari program pendanaan fixed annual coupon rate of 2% and comprise 2
nasional. Instrumen utang tersebut memberikan series: Series A, with a contractual maturity of 5
tingkat kupon tetap sebesar 2% per tahun dan years, and Series B, with a contractual maturity of 7
memiliki dua seri yaitu Seri A dengan jangka waktu years.
kontraktual 5 tahun dan Seri B dengan jangka
waktu kontraktual 7 tahun.
123
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2025 Management Business Company Corporate
290 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
20. ASET LAIN-LAIN (lanjutan) 20. OTHER ASSETS (continued)
Investasi Pada Instrumen Utang (lanjutan) Investment In Debt Instruments (continued)
Mutasi jumlah tercatat instrumen utang: Movement of carrying amount of debt instruments:
2025 2024
Saldo awal – – Beginning balance
Penempatan aset keuangan 91.307.524 – Placement of financial assets
Kerugian ditangguhkan (17.257.659) – Deferred loss
Pendapatan bunga 678.395 – Interest income
Selisih kurs karena penjabaran laporan
keuangan (1.938.454) – Translation adjustment
Saldo akhir setelah penyesuaian Ending balance after valuation
penilaian 72.789.806 – adjustment
Berikut ini adalah mutasi kerugian yang ditangguhkan The following shows the movement on the deferred
dari aset keuangan: loss of financial assets:
2025 2024
Saldo awal – – Beginning balance
Penambahan selama tahun berjalan 17.257.659 – Placement of financial assets
Amortisasi tahun berjalan (486.390) – Deferred loss amortization
Selisih kurs karena penjabaran laporan
keuangan 8.898 – Translation adjustment
Saldo akhir setelah penyesuaian Ending balance after valuation
penilaian 16.780.167 – adjustment
Grup mengkategorikan aset keuangan ini sebagai The Group categorizes these financial assets as
instrumen Level 3 karena input penilaian tidak Level 3 instruments as valuation inputs cannot be
dapat direferensikan pada data yang dapat referenced to observable data. The fair value were
diobservasi. Nilai wajar diestimasi dengan estimated using future contractual cash flows
mendiskontokan arus kas kontraktual masa depan discounted by rates currently available for debt on
menggunakan tingkat bunga yang saat ini tersedia similar terms, credit risk and remaining maturities,
untuk instrumen aset keuangan dengan syarat, adjusted in accordance with the specific
risiko kredit, dan jatuh tempo yang serupa dan characteristics of the assets. Sources of
disesuaikan dengan karakteristik khusus aset unobservable inputs primarily include: issuance was
tersebut. Sumber input yang tidak dapat limited to certain investors, limited transferability,
diobservasi terutama mencakup karakteristik and an issuer’s option to repurchase at its nominal
berikut: penawaran yang terbatas pada investor value.
tertentu, pembatasan atas pengalihan, dan opsi
penerbit untuk membeli kembali pada nilai
nominalnya.
124
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 291
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
20. ASET LAIN-LAIN (lanjutan) 20. OTHER ASSETS (continued)
Uang muka Advances
Uang muka kontrak kepada pihak berelasi Contract advance to a related party is advance to
merupakan uang muka kepada PT Medco Daya PT Medco Daya Abadi Lestari (MDAL) which is
Abadi Lestari (MDAL) yang dikenakan bunga serta interest bearing and pertaining to crude oil
terkait dengan transaksi minyak mentah (Catatan transaction (Note 49).
49).
Uang muka terutama merupakan uang muka yang Advances mainly represents deposit payment to
dibayarkan kepada pihak ketiga sehubungan third party in respect of a potential investment
dengan investasi potensial yang sedang ditinjau which is under review by the Group.
oleh Grup.
Uang muka pemasaran merupakan uang muka Marketing advance is advance to Meta Pacific
yang dibayarkan kepada Meta Pacific Resources Resources Pte. Ltd. to provide marketing activities
Pte. Ltd. terkait dengan pemberian jasa pemasaran including but not limited to procurement of
termasuk namun tidak terbatas pada pengadaan prepayment facilities related to the marketing of the
fasilitas uang muka sehubungan dengan crude oil of the Group.
pemasaran minyak mentah Grup.
Saldo uang muka untuk pembelian/sewa terdiri Advance payments for purchase/rental represent
atas pembayaran-pembayaran uang muka yang payments made in relation to the acquisition/rental
dibuat berkaitan dengan perolehan/sewa berbagai of various assets.
aset.
21. UTANG USAHA 21. TRADE PAYABLES
Rincian akun ini adalah sebagai berikut: The details of this account are as follows:
a. Berdasarkan Pemasok a. By Supplier
2025 2024
Pihak berelasi Related parties
Medco Daya Oman Block 60 Pte Ltd 36.733.109 16.744.412 Medco Daya Oman Block 60 Pte Ltd
PT Medco Daya Energi Nusantara 1.409.130 1.807.182 PT Medco Daya Energi Nusantara
PT Transportasi Gas Indonesia 1.326.289 1.329.841 PT Transportasi Gas Indonesia
PT Medco Daya Natuna 1.048.052 7.769.147 PT Medco Daya Natuna
PT Medco Daya Abadi Lestari 137.872 – PT Medco Daya Abadi Lestari
PT Bahtera Daya Makmur – 4.543.295 PT Bahtera Daya Makmur
PT Medco Daya Makmur – 5.575.641 PT Medco Daya Makmur
Sub-jumlah 40.654.452 37.769.518 Sub-total
Pihak ketiga Third parties
Pemasok dalam negeri 185.728.318 272.393.462 Local suppliers
Pemasok luar negeri 49.129.383 33.434.611 Foreign suppliers
Sub-jumlah 234.857.701 305.828.073 Sub-total
Jumlah 275.512.153 343.597.591 Total
125
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2025 Management Business Company Corporate
292 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
21. UTANG USAHA (lanjutan) 21. TRADE PAYABLES (continued)
Rincian akun ini adalah sebagai berikut: The details of this account are as follows:
b. Berdasarkan Umur b. By Aging Category
2025 2024
Sampai dengan 1 bulan 252.232.348 318.189.238 Up to 1 month
1 - 3 bulan 3.685.088 3.900.167 1 - 3 months
3 - 6 bulan 1.762.223 2.504.015 3 - 6 months
6 bulan - 1 tahun 10.106.683 7.356.497 6 months - 1 year
Lebih dari 1 tahun 7.725.811 11.647.674 More than 1 year
Jumlah 275.512.153 343.597.591 Total
c. Berdasarkan Mata Uang c. By Currency
2025 2024
Dolar Amerika Serikat 235.269.722 291.139.807 United States Dollar
Rupiah 33.686.121 48.950.364 Rupiah
Baht Thailand 6.351.170 2.080.988 Thailand Baht
Dolar Singapura – 27.051 Singapore Dollar
Lain-lain 205.140 1.399.381 Others
Jumlah 275.512.153 343.597.591 Total
Utang usaha dari pemasok dalam negeri maupun Trade payables to local and foreign suppliers, joint
luar negeri, mitra operasi bersama dan pihak venture partners and related parties where the
berelasi di mana Perusahaan merupakan operator Company is the PSC Operator are non-interest
PSC tidak dikenakan bunga, tidak dijaminkan dan bearing, unsecured and generally have credit terms
secara umum mempunyai masa kredit sampai of up to one month.
dengan satu bulan.
22. LIABILITAS KONTRAK 22. CONTRACT LIABILITIES
Liabilitas kontrak termasuk uang muka jangka Contract liabilities include short-term and long-term
pendek dan panjang yang diterima untuk advances received to deliver oil and gas to
mengirimkan minyak dan gas bumi kepada customers.
pelanggan.
Rincian liabilitas kontrak adalah sebagai berikut: The details of contract liabilities are as follows:
2025 2024
Petco Trading Labuan Company Ltd 80.000.000 – Petco Trading Labuan Company Ltd
Shell International Eastern Trading Shell International Eastern Trading
Company 68.307.792 149.090.909 Company
PT Perusahaan Listrik Negara PT Perusahaan Listrik Negara
(Persero) 13.578.384 9.646.920 (Persero)
Lain-lain (masing-masing di bawah
AS$1.000.000) 572.080 421.259 Others (each below US$1,000,000)
Jumlah 162.458.256 159.159.088 Total
Bagian yang jatuh tempo dalam satu
tahun (113.747.907) (76.068.456) Current portion
Bagian jangka panjang 48.710.349 83.090.632 Long-term portion
126
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 293
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
22. LIABILITAS KONTRAK (lanjutan) 22. CONTRACT LIABILITIES (continued)
Pada tahun 31 Desember 2025 dan 2024, sebagian As of December 31, 2025 and 2024, most of the
besar liabilitas kontrak Grup merupakan uang muka Group's contract liabilities consist of advances on
atas penjualan minyak mentah (Catatan 34), di crude oil sales (Note 34), where on 2025 and 2024
mana untuk tahun 2025 dan 2024, telah diakui revenue has been recognized amounting to
sebagai pendapatan dari kontrak dengan US$80,783,117 and US$130,909,091, respectively
pelanggan sebesar AS$80.783.117 dan (Note 49).
US$130,909,091 (Catatan 49).
23. UTANG LAIN-LAIN 23. OTHER PAYABLES
2025 2024
Pihak berelasi Related Parties
PT Medco Daya Natuna 17.438.114 3.343.292 PT Medco Daya Natuna
PT Medco Daya Makmur 12.181.955 9.566.698 PT Medco Daya Makmur
PT Medco Daya Energi Nusantara 1.354.195 1.254.360 PT Medco Daya Energi Nusantara
PT Bahtera Daya Makmur 917.355 873.957 PT Bahtera Daya Makmur
PT Api Metra Graha 82.959 128.901 PT Api Metra Graha
PT Medco Daya Abadi Lestari – 1.033 PT Medco Daya Abadi Lestari
Jumlah 31.974.578 15.168.241 Total
Pihak ketiga Third Parties
OQ Exploration and Production LLC 52.733.791 61.405.192 OQ Exploration and Production LLC
PT Ormat Geothermal Power 46.850.405 31.905.405 PT Ormat Geothermal Power
Kewajiban pajak atas First Tranche Tax payable on First Tranche
Petroleum 41.377.730 41.260.783 Petroleum
Utang kepada Operasi Bersama 18.599.981 21.132.657 Payables to Joint operations
Utang untuk pembiayaan kegiatan Payables for construction and
konstruksi dan operasi 10.582.740 10.167.494 operation activities financing
Mitsui Oil Exploration Co., Ltd. 8.170.435 5.565.000 Mitsui Oil Exploration Co., Ltd.
Solar Philippines Power Project Solar Philippines Power Project
Holdings, Inc. 5.238.437 5.288.691 Holdings, Inc.
PT Sangsaka Hidro Tiara (SHT) 2.614.138 2.713.844 PT Sangsaka Hidro Tiara (SHT)
KPIC Netherlands B.V. and Kanden KPIC Netherlands B.V. and Kanden
Power-Tech Corp. 2.706.459 3.007.205 Power-Tech Corp.
Utang kepada Lundin Sea Holding B.V. 1.129.739 1.492.358 Payable to Lundin Sea Holding B.V.
Asuransi 805.855 1.025.071 Insurance
Lain-lain (masing-masing di bawah
AS$2.000.000) 33.790.447 38.175.997 Others (each below US$2,000,000)
Jumlah 224.600.157 223.139.697 Total
Bagian yang jatuh tempo dalam satu
tahun (144.142.236) (132.091.345) Current portion
Bagian jangka panjang 80.457.921 91.048.352 Long-term portion
127
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2025 Management Business Company Corporate
294 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
23. UTANG LAIN-LAIN (lanjutan) 23. OTHER PAYABLES (continued)
Utang kepada PT Medco Daya Makmur (“MDM”), Payables to PT Medco Daya Makmur (“MDM”), PT
PT Bahtera Daya Makmur (“BDM”), PT Medco Bahtera Daya Makmur (“BDM”), PT Medco Daya
Daya Natuna (“MDN”) dan PT Medco Daya Energi Natuna (“MDN”) and PT Medco Daya Energi
Nusantara ("MDEN") terkait dengan aktivitas Nusantara ("MDEN") in relation to exploration and
eksplorasi dan produksi untuk kontrak kerjasama di production activities to joint operations in South
Blok Sumatera Selatan, Rimau, Blok A, dan Blok B. Sumatera blocks, Rimau, Block A, and Block B.
Utang kepada OQ Exploration and Production LLC Payables to OQ Exploration and Production LLC in
terkait dengan sisa pembayaran yang ditangguhkan relation to deferred payment of purchase 20% non-
atas pembelian 20% non-operated participating operated participating interest in Exploration and
interest pada Exploration and Production Sharing Production Sharing Agreement (EPSA) in Block 60
Agreement (EPSA) Blok 60 dan Blok 48 Oman. and Block 48 in Oman.
Utang kepada Operasi Bersama merupakan utang Payables to Joint Operations represent payables for
atas aktivitas eksplorasi dan produksi yang exploration and production activities related to joint
berkaitan dengan kontrak kerjasama dimana Grup operations where the Group is not the operator.
bukan merupakan operator.
Kewajiban pajak atas First Tranche Petroleum Tax payable on First Tranche Petroleum (FTP) is
(FTP) merupakan bagian kurang bayar pajak part of underpayment of income tax and dividend
penghasilan badan dan pajak dividen atas bagian tax on FTP share of subsidiaries involved in oil and
FTP entitas anak yang bergerak di bidang gas exploration and production in Indonesia. The
eksplorasi dan produksi minyak dan gas bumi di Subsidiaries will pay the tax if the balance of
Indonesia. Entitas Anak akan membayar pajak accumulative FTP has exceeded the balance of the
tersebut apabila saldo akumulasi FTP lebih besar unrecovered cost.
daripada saldo unrecovered cost.
Utang untuk pembiayaan kegiatan konstruksi dan Payables for construction and operation activities
operasi merupakan utang atas pembiayaan proyek financing represent payables for financing power
pembangunan dan untuk operasi proyek plant construction and for the operation of power
pembangkit tenaga listrik. plant projects.
Utang kepada PT Ormat Geothermal Power The amount payable to PT Ormat Geothermal
merupakan utang terkait biaya eksplorasi dan Power represents payable related to exploration
evaluasi tenaga panas bumi. and evaluation costs of the geothermal power plant.
Utang kepada Mitsui Oil Exploration Co., Ltd. The amount payable to Mitsui Oil Exploration Co.,
merupakan utang terkait pengembangan Proyek Ltd. represents payable related to development of
Panas Bumi Bonjol. Bonjol Geothermal Project.
Utang kepada KPIC Netherlands B.V. (KPN) dan Payable to KPIC Netherlands B.V. (KPN) and
Kanden Power-Tech Corporation (KPT) merupakan Kanden Power-Tech Corporation (KPT) represents
utang yang belum terselesaikan terkait dengan outstanding amount related to the transaction
transaksi antara MPI dengan KPN dan KPT dalam between MPI with KPN and KPT on the
pengembangan bisnis produsen listrik independen development of gas independent power producer
gas ("gas-IPP") dan operasi & pemeliharaan (“gas-IPP”) and operation & maintenance (“O&M”)
("O&M") di Indonesia. businesses in Indonesia.
128
Page 297
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 295
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
23. UTANG LAIN-LAIN (lanjutan) 23. OTHER PAYABLES (continued)
Utang kepada SHT merupakan biaya konstruksi Payable to SHT represents construction costs of
pembangkit listrik tenaga mini-hydro yang the mini-hydro power plant advanced by SHT.
dibayarkan oleh SHT.
Asuransi merupakan utang terkait asuransi medis Insurance mainly represents payable related to
dan kesehatan karyawan. medical and health insurance of employees.
Utang kepada Solar Philippines Power Project The amount payable to Solar Philippines Power
Holdings, Inc. merupakan utang terkait biaya Project Holdings, Inc. represents payable related to
pengembangan proyek pembangkit listrik Solar Bali project development cost of Solar West Bali and
Barat dan Solar Bali Timur. Solar East Bali power plant.
Utang kepada Lundin Sea Holding B.V. merupakan Payable to Lundin Sea Holding B.V. represents the
jumlah yang akan dibayar oleh Medco Lematang amount to be paid by Medco Lematang B.V., a
B.V., entitas anak, pada saat pendapatan dari Blok subsidiary, once the revenue from the Lematang
Lematang setelah periode perpanjangan telah Block after the extension has reached certain
mencapai kondisi yang disebutkan pada perjanjian. condition as stipulated in the agreement.
24. LIABILITAS SEWA 24. LEASE LIABILITIES
Liabilitas sewa jangka panjang merupakan The long-term lease liabilities represent the
pengakuan liabilitas sewa (PSAK 116) atas recognition of lease liabilities (PSAK 116) from
perjanjian sewa peralatan kantor dan lainnya, sewa equipment rental, building and land improvement
bangunan dan prasarana, sewa mesin, dan sewa rental, machinery rental, and vehicle rental.
kendaraan.
Pembayaran sewa minimum masa yang akan Future minimum lease payment may be analyzed
datang dianalisis sebagai berikut: as follows:
2025 2024
Saldo awal 277.887.362 238.461.411 Beginning balance
Ditambah: Add:
Penambahan tahun berjalan 127.502.838 198.673.707 Addition in current year
Akresi bunga 18.658.605 19.055.160 Accretion of interest
Dikurangi: Less:
Pembayaran liabilitas sewa (169.837.111) (177.006.252) Repayment of lease liabilities
Penyesuaian kurs (1.631.940) (927.546) Foreign exchange adjustment
Reklasifikasi ke operasi yang Reclassification to discontinued
dihentikan – (369.118) operations
Saldo akhir 252.579.754 277.887.362 Ending balance
Dikurangi bagian yang jatuh tempo
dalam satu tahun (95.819.308) (130.372.051) Less current maturities
Bagian jangka panjang - neto 156.760.446 147.515.311 Long-term maturities - net
Lebih dari satu tahun sampai lima After one year but not more than five
tahun 156.425.296 147.267.434 years
Lebih dari lima tahun 335.150 247.877 More than five years
Jumlah 156.760.446 147.515.311 Total
Grup tidak menghadapi risiko likuiditas signifikan The Group does not face a significant liquidity risk
sehubungan dengan liabilitas sewa yang dimiliki. with regard to its lease liabilities.
Pada tanggal 31 Desember 2025 dan 2024, Grup As of December 31, 2025 and 2024, the Group
mengakui liabilitas sewa atas sewa dengan PT Api recognized lease liabilities related to leases with PT
Metra Graha (pihak berelasi) masing-masing Api Metra Graha (related party) amounting to
sebesar AS$24.199.474 dan AS$9.279.999. US$24,199,474 and US$9,279,999, respectively.
129
Page 298
2025 Management Business Company Corporate
296 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
24. LIABILITAS SEWA (lanjutan) 24. LEASE LIABILITIES (continued)
Pembayaran sewa minimum masa depan Future minimum lease payments under the lease
berdasarkan perjanjian sewa dengan nilai sekarang agreements together with the present value of
atas pembayaran sewa minimum adalah sebagai minimum lease payments are as follows:
berikut:
2025 2024
Dalam satu tahun 109.411.891 145.857.245 Within one year
Lebih dari satu tahun sampai lima After one year but not more than five
tahun 167.971.632 160.509.279 years
Lebih dari lima tahun 335.226 309.773 More than five years
Jumlah pembayaran sewa minimum di
masa depan 277.718.749 306.676.297 Total future minimum lease payments
Jumlah beban keuangan di masa
depan (25.138.995) (28.788.935) Amount representing finance charges
Nilai sekarang atas pembayaran Present value of minimum lease
sewa minimum 252.579.754 277.887.362 payments
Jumlah yang diakui pada laporan laba rugi dan Amount recognized in the statement of profit or loss
penghasilan komprehensif lain yang berkaitan and other comprehensive income related to leases
dengan sewa adalah sebagai berikut: are as follows:
2025 2024
Depreciation expense of right-of-use
Beban penyusutan aset hak-guna 47.593.586 49.070.459 assets
Beban yang berkaitan dengan sewa
jangka pendek dan aset bernilai Expenses relating to short-term leases
rendah 32.839.767 28.415.166 and low-value asset
Pembayaran sewa variable 8.058.892 5.562.860 Variable lease payments
Beban bunga atas liabilitas sewa 8.384.042 6.850.832 Interest on lease liabilities
Total 96.876.287 89.899.317 Total
Grup memiliki arus kas keluar berkaitan dengan The Group had total cash outflows related to
sewa, termasuk pembayaran sewa variabel, sewa leases, including variable lease payment, short-
jangka pendek dan sewa bernilai rendah pada term and low-value assets lease payments as of
tanggal 31 Desember 2025 dan 2024, masing- December 31, 2025 and 2024, amounting to
masing sebesar AS$210.735.770, dan US$210,735,770 and US$210,984,278.
AS$210.984.278.
Pada tanggal 31 Desember 2025 dan 2024, opsi As of December 31, 2025 and 2024, the extension
sewa memiliki harga sewa yang bersifat akan options have lease rate that will be re-negotiated
dinegosiasikan kembali saat periode kontrak after contract period end.
selesai.
Pada tanggal 31 Desember 2025 dan 2024, Grup As of December 31, 2025 and 2024, the Group has
tidak memiliki intensi untuk mengeksekusi opsi no intention to execute termination option on the
terminasi atas kontrak sewa yang ada. available lease contracts.
130
Page 299
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 297
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK 25. TAXES PAYABLE
Akun ini terdiri dari: This account consists of:
2025 2024
Perusahaan The Company
Pajak yang dipungut: Withholding tax:
Pasal 4(2) 7.340 19.965 Article 4(2)
Pasal 21 3.608.083 3.414.871 Article 21
Pasal 23 44.318 18.936 Article 23
Pasal 26 10.537 100 Article 26
Sub-jumlah 3.670.278 3.453.872 Sub-total
Entitas Anak Subsidiaries
Pajak Penghasilan (PPh) Badan 53.149.177 63.423.129 Corporate income tax
Pajak yang dipungut: Withholding tax:
Pasal 4(2) 30.732.736 862.201 Article 4(2)
Pasal 15 24.729 21.374 Article 15
Pasal 21 472.769 854.972 Article 21
Pasal 23 1.031.750 1.007.933 Article 23
Pasal 25 82.444 97.724 Article 25
Pasal 26 4.777.865 389.627 Article 26
Pajak pertambahan nilai (PPN) 5.401.163 6.758.622 Value-added Tax (VAT)
Sub-jumlah 95.672.633 73.415.582 Sub-total
Jumlah 99.342.911 76.869.454 Total
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut:
Jumlah Keberatan/
Jumlah Penilaian
Banding menurut Nomor dan Tanggal Status pada tanggal Status pada tanggal
Menurut Otoritas
Jenis Pajak dan Masa/ Jenis/ Group/ Surat Pajak/ 31 Desember 2025/ 31 Desember 2024/
Pajak/
Type of tax and period Type Amount objection/ Number and date of Status as of Status as of
Amount assessed
appeal according to latest tax letters December 31, 2025 December 31, 2024
by Tax Authority
the Group
PT TJB Power Services (TJBPS)
PPN July-2016/ SKP Kurang Bayar Rp343.148.076 Nihil/ PUT-004849.16/2021/ Banding dikabulkan Banding/Appeal
VAT July-2016 Tambahan/ Additional Nil PP/M.IVB Tahun 2025 seluruhnya/ Appeal is
Underpayment of Tax 20 Februari 2025/ fully granted
Assessment Letter February 20, 2025
PPN September 2016/ SKP Kurang Bayar Rp1.147.586.586 Nihil/ PUT-004850.16/2021/ Peninjauan Kembali Banding/Appeal
VAT September 2016 Tambahan/Additional Nil PP/M.IVB Tahun 2025 diajukan oleh DJP/
Underpayment of Tax 20 Februari 2025/ Judicial review filed by
Assessment Letter February 20, 2025 DGT
PPh Pasal 26 September SKP Kurang Bayar/ Rp1.278.674.504 Nihil/ PUT-004848.13/2021/ Peninjauan Kembali Banding/Appeal
2016/ Underpayment of Tax Nil PP/M.IVB Tahun 2025 diajukan oleh DJP/
WHT Art 26 September Assessment Letter 20 Februari 2025/ Judicial review filed by
2016 February 20, 2025 DGT
131
Page 300
2025 Management Business Company Corporate
298 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK (lanjutan) 25. TAXES PAYABLE (continued)
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries (continued)
(lanjutan)
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut: (lanjutan) (continued)
Jumlah Keberatan/
Jumlah Penilaian
Jenis Pajak dan Banding menurut Nomor dan Tanggal Status pada tanggal Status pada tanggal
Menurut Otoritas
Masa/ Jenis/ Group/ Surat Pajak/ 31 Desember 2025/ 31 Desember 2024/
Pajak/
Type of tax and Type Amount objection/ Number and date of Status as of Status as of
Amount assessed by
period appeal according to latest tax letters December 31, 2025 December 31, 2024
Tax Authority
the Group
PT TJB Power Services (TJBPS) (lanjutan) / (continued)
PPh Badan Tahun 2016/ SKP Kurang Bayar/ Rp3.624.483.370 Rp980.804.510 PUT-004847.15/2021/ Peninjauan Kembali Banding/Appeal
Corporate Income Tax Underpayment of Tax PP/M.IVB Tahun 2025 diajukan oleh DJP/
Year 2016 Assessment Letter 20 Februari 2025/ Judicial review filed by
February 20, 2025 DGT
PPN Maret 2018/ Surat Tagihan Pajak/Tax Rp792.422.654 Nihil/ PUT-000159.99/2021/ Gugatan dikabulkan Gugatan/Lawsuit
VAT March 2018 Collection Letter Nil PP/M.IVB Tahun 2025 seluruhnya/
20 Februari 2025/ Lawsuit is fully granted
February 20, 2025
PPN Juni 2019/ SKP Lebih Bayar/ Rp755.668.191 Rp1.336.639.627 PUT-011141.16/2021/ Peninjauan Kembali Banding/Appeal
VAT June 2019 Overpayment of Tax PP/M.IVB Tahun 2025 diajukan oleh DJP/
Assessment Letter 20 Februari 2025/ Judicial review filed by
February 20, 2025 DGT
PPN Februari, Maret, Surat Tagihan Pajak/ Rp807.970.989 Rp132.800 Berbagai nomor/ Peninjauan Kembali Gugatan/Lawsuit
April, Juli 2019/ Tax Collection Letter Various numbers diajukan oleh DJP/
VAT February, March, 20 Februari 2025/ Judicial review filed by
April, July 2019 February 20, 2025 DGT
PPN Agustus 2020/ SKP Lebih Bayar/ Rp746.870.324 Rp1.536.216.887 PUT-011217.16/2022/ Peninjauan Kembali Banding/Appeal
VAT August 2020 Overpayment of Tax PP/M.IVB Tahun 2025 diajukan oleh DJP/
Assessment Letter 20 Februari 2025/ Judicial review filed by
February 20, 2025 DGT
PPh 26 September. SKP Kurang Bayar/ Rp2.173.051.770 Nihil/ Berbagai nomor/ Selesai/Closed Keberatan dikabulkan
Oktober, November, Underpayment of Tax Nil Various numbers seluruhnya/
Desember 2018/ Assessment Letter 26 Juli 2024/ Objection is fully
WHT Art 26 September, July 26, 2024 granted
October, November,
December 2018
PPN April, Mei, Juni SKP Lebih Bayar/ Rp3.484.826.434 Rp3.509.760.902 Berbagai nomor/ Keberatan/ Keberatan/
2023/ Overpayment of Tax Various numbers Objection Objection
VAT April, May, June Assessment Letter 25 Maret 2024/
2023 March 25, 2024
PPN Juli, Agustus, SKP Lebih Bayar/ Rp4.039.284.109 Rp4.055.032.621 Berbagai nomor/ Keberatan/ Keberatan/
September 2023/ Overpayment of Tax Various numbers Objection Objection
VAT July, August, Assessment Letter Mei-Juni 2024/
September 2023 May-June, 2024
PT Energi Listrik Batam (ELB)
PPh Badan Tahun 2020/ SKP Nihil/ Rugi Fiskal/Tax Loss Rugi Fiskal/Tax Loss 00010/506/20/217/25 Keberatan/ —
Corporate Income Tax Nil of Tax Assessment US$2,048,672 US$2,348,672 4 November 2025/ Objection
Year 2020 Letter November 4, 2025
PT Medco Power Indonesia (MPI)
PPh Pasal 26 Januari SKP Kurang Bayar/ Rp161.431.931 Nihil/ KEP-00069/KEB-CT/ Banding/ Keberatan/
2022/ Underpayment of Tax Nil WPJ.07/2025 Appeal Objection
WHT Art 26 January Assessment Letter 14 Oktober 2025/
2022 October 14, 2025
PPh Badan Tahun 2023/ SKP Lebih Bayar/ Rugi Fiskal/Tax Loss Rugi Fiskal/Tax Loss 00040/406/23/081/25 Keberatan/ —
Corporate Income Tax Overpayment of Tax Rp170.640.362.534 Rp317.713.535.609 8 Agustus 2025/ August Objection
Year 2023 Assessment Letter 8, 2025
PPN Membangun SKP Kurang Bayar/ Rp3.071.157.248 Nihil/ PUT-64340/PP/ Peninjauan Kembali —
Sendiri Tahun 2009/ Underpayment of Tax Nil M.VIIIB/16/2015 diajukan oleh DJP/
VAT on Self- Assessment Letter 30 September 2015/ Judicial Review filed by
Construction Activities September 30, 2015 DGT
Year 2009
132
Page 301
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 299
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK (lanjutan) 25. TAXES PAYABLE (continued)
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries (continued)
(lanjutan)
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut: (lanjutan) (continued)
Jumlah Keberatan/
Jumlah Penilaian
Banding menurut Nomor dan Tanggal Status pada tanggal Status pada tanggal
Menurut Otoritas
Jenis Pajak dan Masa/ Jenis/ Group/ Surat Pajak/ 31 Desember 2025/ 31 Desember 2024/
Pajak/
Type of tax and period Type Amount objection/ Number and date of Status as of Status as of
Amount assessed
appeal according to latest tax letters December 31, 2025 December 31, 2024
by Tax Authority
the Group
PT Mitra Energi Batam (MEB)
PPh Badan Tahun 2019/ SKP Lebih Bayar/ Rp3.229.558.100 Rp12.519.271.350 PUT-011763.15/2022/ Peninjauan Kembali Banding dikabulkan
Corporate Income Tax Overpayment of Tax PP/M.IIIB Tahun 2024 diajukan oleh DJP/ sebagian/
Year 2019 Assessment Letter 29 Oktober 2024/ Judicial Review filed by Appeal is partially
October 29, 2024 DGT granted
PPh 21 Desember 2019/ SKP Kurang Bayar/ Rp175.434.607 Nihil/ PUT-011762.10/2022/ Selesai/Closed Banding dikabulkan
WHT Art 21 December Underpayment of Tax Nil PP/M.IIIB Tahun 2024 seluruhnya/
2019 Assessment Letter 29 Oktober 2024/ Appeal is fully granted
October 29, 2024
PPh Badan Tahun 2020/ SKP Lebih Bayar/ Kompensasi rugi Kompensasi rugi fiskal/ PUT-004252.15/2023/ Peninjauan Kembali Banding dikabulkan
Corporate Income Tax Overpayment of Tax fiskal nihil/ Tax loss carried forward PP/M.IIIB Tahun 2024 diajukan oleh DJP/ sebagian/
Year 2020 Assessment Letter Zero tax loss carried of Rp12.759.250.307 29 Oktober 2024/ Judicial Review filed by Appeal is partially
forward October 29, 2024 DGT granted
PT Dalle Energy Batam (DEB)
PPh Badan Tahun 2019/ SKP Lebih Bayar/ Rp1.008.760.284 Rp7.960.998.326 PUT-011749.15/2022/ Peninjauan Kembali Banding/Appeal
Corporate Income Tax Overpayment of Tax PP/M.XXB diajukan oleh DJP/
Year 2019 Assessment Letter 8 Mei 2025/ Judicial Review filed by
May 8, 2025 DGT
PPh Badan Tahun 2023/ SKP Lebih Bayar/ Rp10.900.761.992 Rp22.012.817.892 00030/406/23/217/25 Keberatan/Objection —
Corporate Income Tax Overpayment of Tax 28 April 2025/ April 28,
Year 2023 Assessment Letter 2025
PT Bio Jatropha Indonesia (BJI)
PPh Pasal 23 Januari – SKP Kurang Bayar/ Rp5.614.008.876 Nihil/ Berbagai nomor/ Peninjauan Kembali Peninjauan Kembali
Desember 2019/ Underpayment of Tax Nil Various numbers ditolak oleh Mahkamah diajukan oleh DJP/
WHT Art 23 January – Assessment Letter 16 Mei 2024/ Agung/Judicial Review Judicial Review filed by
December 2019 May 16, 2024 is rejected by Supreme DGT
Court
PPh Pasal 23 Januari – SKP Kurang Bayar/ Rp2.663.607.207 Rp2.537.952 Berbagai nomor/ Peninjauan Kembali Peninjauan Kembali
Desember 2020/ Underpayment of Tax Various numbers ditolak oleh Mahkamah diajukan oleh DJP/
WHT Art 23 January – Assessment Letter 15 April 2025/ Agung/Judicial Review Judicial Review filed by
December 2020 April 15, 2025 is rejected by Supreme DGT
Court
PT Pembangkitan Pusaka Parahiangan (PPP)
PPh Pasal 23 Mei 2023/ SKP Kurang Bayar/ Rp7.370.640.332 Rp1.001.040.299 00002/203/23/429/25 Keberatan/Objection —
WHT Art 23 May 2023 Underpayment of Tax 24 April 2025/ April 24,
Assessment Letter 2025
PT Medco Geothermal Sarulla (MGS)
PPN Desember 2024/ SKP Lebih Bayar/ Rp1.929.940.449 Rp2.113.035.193 00064/407/24/095/25 Keberatan/Objection —
VAT December 2024 Overpayment of Tax 18 Desember 2025/
Assessment Letter December 18, 2025
133
Page 302
2025 Management Business Company Corporate
300 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK (lanjutan) 25. TAXES PAYABLE (continued)
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries (continued)
(lanjutan)
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut: (lanjutan) (continued)
Jumlah Keberatan/
Jumlah Penilaian
Banding menurut Nomor dan Tanggal Status pada tanggal Status pada tanggal
Menurut Otoritas
Jenis Pajak dan Masa/ Jenis/ Group/ Surat Pajak/ 31 Desember 2025/ 31 Desember 2024/
Pajak/
Type of tax and period Type Amount objection/ Number and date of Status as of Status as of
Amount assessed
appeal according to latest tax letters December 31, 2025 December 31, 2024
by Tax Authority
the Group
PT Medco E & P Rimau (MEPR)
PPN Januari, Maret, SKP Kurang Bayar/ Rp69.562.199 Nihil/Nil Surat Ketetapan Pajak Keberatan/ —
Agustus 2022/ Underpayment of Tax Kurang Bayar Berbagai Objection
VAT January, March, Assessment Letter nomor/
August 2022 Tax Assessment Letter
Various numbers
31 Juli 2025/
July 31, 2025
PT Medco E & P Indonesia (MEPI)
PPh Pasal 23 Januari – SKP Kurang Bayar/ Rp2.663.214.107 Nihil/ Surat Putusan Peninjauan Kembali/ Peninjauan Kembali/
Desember 2011/ Underpayment of Tax Nil Pengadilan Judicial Review Judicial Review
WHT Art 23 January – Assessment Letter Pajak No./
December 2011 Tax Court Decision
Letter No.
PUT-000796.12
26 Agustus 2020/
August 26, 2020
PPN Januari – Desember SKP Kurang Bayar/ Rp682.009.461 Nihil/ Surat Putusan Selesai/Closed Banding dikabulkan
2018/ Underpayment of Tax Nil Pengadilan Berbagai sebagian/Appeal is
VAT January – December Assessment Letter Nomor/ Tax Court partially granted
2018 Verdict Various
Numbers
Agustus 2024/
August 2024
PPh Pasal 26 Februari SKP Kurang Bayar/ Rp13.329.777 Nihil/ Surat Putusan Selesai/Closed Banding dikabulkan
2019/ Underpayment of Tax Nil Pengadilan Pajak seluruhnya/Appeal is
WHT Art 26 February Assessment Letter No./Tax Court Verdict fully granted
2019 No.
PUT-009863.13
8 Agustus 2024/
August 8,2024
PPN April - November SKP Kurang Bayar/ Rp318.464.158 Nihil/Nil Surat Ketetapan Pajak Keberatan/ —
2022/ Underpayment of Tax Kurang Bayar Berbagai Objection
VAT April - November Assessment Letter nomor/
2022 Tax Assessment Letter
Various numbers
30 Juli 2025/
July 30, 2025
134
Page 303
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 301
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK (lanjutan) 25. TAXES PAYABLE (continued)
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries (continued)
(lanjutan)
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut: (lanjutan) (continued)
Jumlah Keberatan/
Jumlah Penilaian
Banding menurut Nomor dan Tanggal Status pada tanggal Status pada tanggal
Menurut Otoritas
Jenis Pajak dan Masa/ Jenis/ Group/ Surat Pajak/ 31 Desember 2025/ 31 Desember 2024/
Pajak/
Type of tax and period Type Amount objection/ Number and date of Status as of Status as of
Amount assessed
appeal according to latest tax letters December 31, 2025 December 31, 2024
by Tax Authority
the Group
Medco E&P Natuna Limited (MEPN)
PPN November & SKP Kurang Bayar/ Rp366.854.540 Nihil/ Putusan Pengadilan Peninjauan Kembali Banding dikabulkan
Desember 2017/ Underpayment of Tax Nil Pajak Berbagai Nomor/ diajukan oleh DJP/ seluruhnya/
VAT November & Assessment Letter Tax Court Decision Judicial Review filed by Appeal is fully granted
December 2017 Letter Various Numbers DGT
November 2024/
November 2024
PPN Januari, Februari, SKP Kurang Bayar/ Rp3.151.944.790 Nihil/ Putusan Pengadilan Peninjauan Kembali Banding dikabulkan
April, Juli, Agustus, Underpayment of Tax Nil Pajak Berbagai Nomor/ diajukan oleh DJP/ seluruhnya/
September 2017/ Assessment Letter Tax Court Decision Judicial Review filed by Appeal is fully granted
VAT January, February, Letter Various Numbers DGT
April, July, August, November 2024/
September 2017 November 2024
PPh Pasal 23 Mei, SKP Kurang Bayar/ Rp197.873.948 Nihil/ Surat Putusan Mahkamah Agung Peninjauan Kembali/
Agustus, Oktober, Underpayment of Tax Nil Mahkamah Agung menolak Peninjauan Judicial Review
Desember 2018/ Assessment Letter Berbagai nomor/ Kembali/Supreme Court
WHT Art 23 May, August, Supreme Court Decision rejected Judicial Review
October, December 2018 Letter
Various numbers
Juni dan September
2024, Maret 2025/
June & September
2024, March 2025
PPh Pasal 15 Januari – SKP Kurang Bayar/ Rp802.232.914 Nihil/ Surat Putusan Mahkamah Agung Peninjauan Kembali/
Desember 2018/ Underpayment of Tax Nil Pengadilan Berbagai menolak Peninjauan Judicial Review
WHT Art 15 January – Assessment Letter nomor/ Kembali/Supreme Court
December 2018 Tax Court Decision Rejected Judicial
Letter Review
Various numbers
10 Oktober 2023/
October 10, 2023
PPN Februari, Mei, Juli, SKP Kurang Bayar/ Rp1.540.634.850 Nihil/ Putusan Mahkamah Selesai/Closed Mahkamah Agung
Agustus, Oktober, Underpayment of Tax Nil Agung Berbagai Nomor/ menolak Peninjauan
November, Desember Assessment Letter Supreme Court Decision Kembali/
2018/ Letter Various Numbers Supreme Court rejected
VAT February, May, July, Desember 2024/ Judicial Review
August, October, December 2024
November, December
2018
PPh Pasal 23 Desember SKP Kurang Bayar/ Rp23.139.746 Nihil/ Surat Putusan Banding dikabulkan Banding/Appeal
2019/ Underpayment of Tax Nil Pengadilan Pajak No./ sebagian/Appeal is
WHT Art 23 December Assessment Letter Tax Court Decision partially granted
2019 Letter No.
PUT-000886.12
19 November 2025/
November 19, 2025
PPN Januari – Desember SKP Kurang Bayar/ Rp431.381.187 Nihil/ Surat Putusan Banding dikabulkan Banding/Appeal
2019/ Underpayment of Tax Nil Pengadilan sebagian/Appeal is
VAT January – December Assessment Letter Pajak Berbagai Nomor/ partially granted
2019 Tax Court Decision
Letter Various Numbers
19 November 2025/
November 19, 2025
135
Page 304
2025 Management Business Company Corporate
302 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK (lanjutan) 25. TAXES PAYABLE (continued)
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries (continued)
(lanjutan)
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut: (lanjutan) (continued)
Jumlah Keberatan/
Jumlah Penilaian
Banding menurut Nomor dan Tanggal Status pada tanggal Status pada tanggal
Menurut Otoritas
Jenis Pajak dan Masa/ Jenis/ Group/ Surat Pajak/ 31 Desember 2025/ 31 Desember 2024/
Pajak/
Type of tax and period Type Amount objection/ Number and date of Status as of Status as of
Amount assessed
appeal according to latest tax letters December 31, 2025 December 31, 2024
by Tax Authority
the Group
Medco E&P Bangkanai Limited (MEPBL)
PPN September 2019/ SKP Kurang Bayar/ Rp135.561.323 Nihil/ Putusan Mahkamah Mahkamah Agung Peninjauan Kembali
VAT September 2019 Underpayment of Tax Nil Agung No./ menolak Peninjauan oleh DJP/
Assessment Letter Supreme Court Kembali/ Judicial Review by DGT
Decision Letter Supreme Court rejected
No. Judicial Review
1792/B/PK/Pjk/2025
28 April 2025/
April 28, 2025
PPN Juli, November SKP Kurang Bayar/ Rp14.498.026 Nihil/ Surat Putusan Selesai/ Peninjauan Kembali
2019/ Underpayment of Tax Nil Pengadilan Closed oleh DJP/
VAT July, November 2019 Assessment Letter Pajak Berbagai Nomor/ Judicial Review by DGT
Tax Court Decision
Letter Various Numbers
28 Juni 2024/
June 28, 2024
Medco E&P Grissik Limited (MEPG)
PPh Pasal 26 April, Juli, SKP Kurang Bayar/ Rp543.123.478 Nihil/ Surat Putusan Keberatan dikabulkan Keberatan/
Desember 2020/ Underpayment of Tax Nil Keberatan Berbagai seluruhnya/ Objection
WHT Art 26 April, July, Assessment Letter Nomor/ Objection is fully
December 2020 Tax Objection Decision granted
Letter Various Number
16 Juli 2025/
July 16, 2025
PPh Pasal 26 September SKP Kurang Bayar/ Nihil/ Nihil/ Surat Putusan Keberatan dikabulkan —
2021/ WHT Art 26 Underpayment of Tax Nil Nil Keberatan No./Tax seluruhnya/
September 2021 Assessment Letter Objection Decision Objection is fully
Letter No. KEP-00064/ granted
KEB-CT/WPJ.07/2025
9 Oktober 2025/
October 9, 2025
PPN Agustus, Oktober, SKP Kurang Bayar/ Rp105.788.453 Rp65.480.861 Surat Putusan Banding / —
Desember 2021 / VAT Underpayment of Tax Keberatan Appeal
August, October, Assessment Letter Pajak Berbagai Nomor/
December 2021 Tax Objection Decision
Letter
Various numbers
13 November 2025/
November 13, 2025
Medco Energi Sampang Pty LTd (MESPL)
PPN Desember 2020/ SKP Kurang Bayar/ Rp22.164.930 Nihil/Nil Surat Ketetapan Pajak Keberatan/ —
VAT December 2020 Underpayment of Tax Kurang Bayar No. / Objection
Assessment Letter Tax Assessment Letter
No.
00022/287/20/081/25
22 September 2025/
September 22, 2025
136
Page 305
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 303
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
25. UTANG PAJAK (lanjutan) 25. TAXES PAYABLE (continued)
Surat Ketetapan Pajak (SKP) – Entitas Anak Tax Assessment Letters – Subsidiaries (continued)
(lanjutan)
Klaim pajak Grup yang masih belum terselesaikan The Group’s unresolved tax claims due to the
akibat terbitnya Surat Ketetapan Pajak sampai issuance of Tax Assessment Letters up to
tanggal 31 Desember 2025 dan 2024 adalah December 31, 2025 and 2024 are as follows:
sebagai berikut: (lanjutan) (continued)
Manajemen berkeyakinan Grup telah menaati Management believes the Group has fully complied
ketentuan perpajakan yang berlaku di Indonesia with the tax requirements in Indonesia and in other
dan di yurisdiksi pajak lainnya. Oleh karena itu, tax jurisdictions. Therefore, management is of the
manajemen berpendapat tidak diperlukan opinion that no provision is necessary for uncertain
pencadangan atas ketidakpastian posisi perpajakan tax position from the above mentioned Tax
dari Surat Ketetapan Pajak yang disebutkan di atas. Assessment Letters.
26. BIAYA AKRUAL DAN PROVISI LAIN-LAIN 26. ACCRUED EXPENSES AND OTHER
PROVISIONS
Akun ini terdiri dari: This account consists of:
2025 2024
Kontrak jasa 134.406.085 126.839.526 Contract services
Bunga 34.904.417 62.267.734 Interest
Gaji dan Bonus 32.683.409 40.859.825 Salaries and bonuses
Pemasok 22.517.807 15.520.923 Suppliers
Jasa profesional 9.006.042 6.319.537 Professional fees
Operasi bersama 4.066.706 4.631.121 Joint operations
Sewa 2.473.146 1.587.793 Rentals
Beban operasional lainnya 21.429.459 18.033.578 Other operating expenses
Jumlah 261.487.071 276.060.037 Total
Kontrak jasa merupakan akrual dari berbagai servis Contract services represent accrual of various
yang berkaitan dengan aktivitas eksplorasi dan services relating to oil and gas exploration and
produksi minyak dan gas bumi, kegiatan production activities, drilling activities, construction
pengeboran, kegiatan konstruksi, jasa konsultan works, technical consulting services, supply works
teknis, tenaga kerja dan kegiatan peminjaman and lender's activities related to ELB CCPP and ljen
terkait dengan proyek ELB CCPP dan Pembangkit Geothermal Power Plant project.
Listrik Tenaga Panas Bumi Ijen.
Bunga yang masih harus dibayar terdiri dari bunga Accrued interest consist of interest on short-term
atas pinjaman bank jangka pendek dan jangka and long-term bank borrowings, bonds, and other
panjang, obligasi dan hutang jangka panjang long-term debts.
lainnya.
Liabilitas kepada pemasok terkait dengan aktivitas Liabilities to suppliers represent operational
dan transaksi operasional dimana tagihan dengan activities and transactions for which the related
jumlah tersebut belum diterima oleh Grup. invoices for such amounts have not yet been
received by the Group.
137
Page 306
2025 Management Business Company Corporate
304 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF 27. DERIVATIVES
2025 2024
Liabilitas Liabilitas
Aset Derivatif/ Derivatif/ Keuntungan Aset Derivatif/ Derivatif/ Keuntungan
Pihak ketiga/Third Derivative Derivative (Kerugian)/ Derivative Derivative (Kerugian)/
parties Jenis/Type Assets Liabilities Gain (Loss) Assets Liabilities Gain (Loss)
Perusahaan/The Company
Perjanjian swap atas
PT DBS Bank mata uang silang/
Indonesia Cross-currency swaps – 6.345.697 (1.759.643) – 4.586.054 (3.351.705)
Perjanjian swap atas
PT Bank UOB mata uang silang/
Indonesia Cross-currency swaps 57.535 7.144.281 (72.302) – 7.014.444 (6.322.317)
Perjanjian swap atas
PT Bank Permata mata uang silang/
Tbk Cross-currency swaps – – – – – 401.805
Perjanjian swap atas
PT Bank Mandiri mata uang silang/
(Persero) Tbk Cross-currency swaps – 7.573.583 3.065.408 – 10.638.991 (3.480.399)
Perjanjian swap atas
PT Bank CIMB Niaga mata uang silang/
Tbk Cross-currency swaps 178.399 6.465.005 3.742.878 346.181 10.375.665 (6.432.640)
Perjanjian swap atas
PT Bank Maybank mata uang silang/
Indonesia Tbk Cross-currency swaps 908.320 16.538.690 (5.404.151) – 10.226.219 (7.604.858)
Perjanjian swap atas
PT Bank ANZ mata uang silang/
Indonesia Cross-currency swaps – 756.001 (201.456) – 554.545 (554.545)
Perjanjian swap atas
PT Bank OCBC NISP mata uang silang/
Tbk Cross-currency swaps – 48.011 (48.011) – – –
PT Bank Rakyat Perjanjian swap atas
Indonesia mata uang silang/
(Persero) Tbk Cross-currency swaps – 7.645.140 (7.645.140) – – –
Perjanjian collar
komoditas/Commodity
Natixis collar – – – – – (115.422)
Perjanjian collar
Morgan Stanley & Co komoditas/Commodity
International Plc collar – – – – – 83.019
Perjanjian collar
komoditas/Commodity
ING Bank N.V. collar – – – – – (192.428)
Perjanjian collar
Standard Chartered komoditas/Commodity
Bank collar – – – – – (134.866)
138
Page 307
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 305
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
2025 2024
Liabilitas Liabilitas
Aset Derivatif/ Derivatif/ Keuntungan Aset Derivatif/ Derivatif/ Keuntungan
Pihak ketiga/Third Derivative Derivative (Kerugian)/ Derivative Derivative (Kerugian)/
parties Jenis/Type Assets Liabilities Gain (Loss) Assets Liabilities Gain (Loss)
PT Medco E & P Malaka ("MEPM")
Perjanjian swap atas
PT Bank ANZ tingkat suku bunga/
Indonesia Interest rate swap – – (1.082.342) 1.082.342 – 327.343
Perjanjian swap atas
tingkat suku bunga/
ING Bank N.V. Interest rate swap – – (1.067.967) 1.067.967 – 301.804
Perjanjian swap atas
tingkat suku bunga/
Societe Generale Interest rate swap – – (1.058.575) 1.058.575 – 271.146
PT Medco Ratch Power Riau ("MRPR")
Perjanjian swap atas
tingkat suku bunga/
MUFG Bank Ltd Interest rate swap 7.168.646 – (2.159.217) 9.327.863 – 947.121
Sumitomo Mitsui Perjanjian swap atas
Banking tingkat suku bunga/
Corporation Interest rate swap 7.172.211 – (2.141.187) 9.313.398 – 941.529
Perjanjian swap atas
International Finance tingkat suku bunga/
Corporation Interest rate swap 4.327.302 – (1.274.278) 5.601.580 – 518.880
Jumlah/Total 19.812.413 52.516.408 (17.105.983) 27.797.906 43.395.918 (24.396.533)
Dikurangi yang jatuh tempo dalam satu tahun/
Less current portion 1.365.489 6.606.096 1.873.705 12.653.816
Bagian jangka panjang/Long-term portion 18.446.924 45.910.312 25.924.201 30.742.102
Keuntungan (kerugian) yang terealisasi atau
belum direalisasi yang diakui pada laporan
laba rugi dan penghasilan komprehensif lain
konsolidasian/ Realized or unrealized gain
(loss) on derivatives recognized in
consolidated statement of profit or loss and
other comprehensive income (30.292.129) (19.592.933)
Pendapatan komprehensif lainnya atas
lindung nilai atas arus kas/ Other
comprehensive income of cash flow
hedge 13.186.146 (4.803.600)
139
Page 308
2025 Management Business Company Corporate
306 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Grup melakukan transaksi forward atas mata uang The Group entered into foreign exchange forward,
asing, swap atas mata uang silang dan swap atas cross-currency swaps and interest rate swaps
tingkat suku bunga sebagai instrumen lindung nilai hedging instruments to manage its foreign currency
untuk mengelola risiko atas mata uang asing dan and interest rate risks. The Group also entered into
tingkat bunga. Grup juga mempunyai kontrak collar commodity collar and commodity options contract
komoditas dan kontrak opsi komoditas yang that are used as a hedge for the exposure to
digunakan sebagai lindung nilai atas eksposur changes in commodity price. All contracts entered
perubahan harga komoditas. Seluruh kontrak yang into by the Group have underlying obligations.
dilakukan Grup mempunyai kewajiban yang
mendasari.
Lindung nilai arus kas - risiko mata uang asing Cash flow hedges - foreign currency risk
Kontrak cross-currency swap dan foreign currency Cross-currency swaps and foreign currency forward
forward ditetapkan sebagai instrumen lindung nilai contracts are designated as hedging instruments in
dalam lindung nilai arus kas dari transaksi perkiraan cash flow hedges of forecast transactions in
dalam Rupiah Indonesia. Transaksi perkiraan ini Indonesian Rupiah. These forecast transactions are
sangat mungkin diperkirakan untuk pembayaran highly probable for the Group’s payment of salaries,
gaji, pembelian barang dan pembayaran utang purchases of materials and repayment of liabilities
Grup dalam Rupiah Indonesia. in Indonesian Rupiah.
Lindung nilai arus kas - risiko suku bunga Cash flow hedges - interest rate risk
Grup memiliki utang dengan suku bunga The Group has liabilities with floating and fixed
mengambang dan tetap. Grup menetapkan kontrak interest rate. The Group designates interest rate
swap suku bunga sebagai lindung nilai arus kas swaps as cash flow hedges to mitigate the volatility
untuk memitigasi volatilitas dari suku bunga. of interest rate.
Risiko harga komoditas Commodity price risk
Grup menjual minyak mentah secara berkelanjutan. The Group sells crude oil on an ongoing basis. The
Peningkatan volatilitas harga minyak telah increased volatility in oil prices has led to the
menyebabkan keputusan untuk masuk ke dalam decision to enter into commodity option contracts to
kontrak opsi komoditas untuk melindungi risiko hedge the downside price risk from crude oil sales.
penurunan harga dari penjualan minyak mentah.
Terdapat hubungan ekonomi antara item yang There is an economic relationship between the
dilindung nilai dan instrumen lindung nilai karena hedged items and the hedging instruments as the
ketentuan instrumen lindung nilai cocok dengan terms of the hedging instruments match the terms
persyaratan transaksi perkiraan yang sangat of the expected highly probable forecast
mungkin diperkirakan (contoh jumlah notional dan transactions (i.e., notional amount and expected
tanggal pembayaran yang diharapkan). payment date).
Untuk menguji efektivitas lindung nilai, Grup To test the hedge effectiveness, the Group uses the
menggunakan metode derivatif hipotetis dan hypothetical derivative method and compares the
membandingkan perubahan nilai wajar instrumen changes in the fair value of the hedging instruments
lindung nilai terhadap perubahan nilai wajar item against the changes in fair value of the hedged
yang dilindung nilai yang disebabkan oleh risiko items attributable to the hedged risks.
yang dilindung nilai.
Ketidakefektifan lindung nilai dapat timbul dari: The hedge ineffectiveness can arise from:
• Perbedaan dalam waktu arus kas dari item • Differences in the timing of the cash flows of
yang dilindung nilai dan instrumen lindung the hedged items and the hedging
nilai; instruments;
• Indeks yang berbeda (dan kurva yang • Different indexes (and accordingly different
berbeda) yang terkait dengan risiko lindung curves) linked to the hedged risk of the
nilai dari item yang dilindungi dan instrumen hedged items and hedging instruments;
lindung nilai;
140
Page 309
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 307
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Ketidakefektifan lindung nilai dapat timbul dari: The hedge ineffectiveness can arise from:
(lanjutan) (continued)
• Risiko kredit rekanan yang memengaruhi • The counterparties’ credit risk differently
pergerakan nilai wajar instrumen lindung nilai impacting the fair value movements of the
dan item yang dilindung nilai secara berbeda; hedging instruments and hedged items; and
dan
• Perubahan pada perkiraan arus kas dari item • Changes to the forecasted amount of cash
yang dilindung nilai dan instrumen lindung flows of hedged items and hedging
nilai. instruments.
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: undertaken by the Group is as follows:
Nilai Notional/Notional Amount Tanggal Tanggal
Pihak ketiga/ Syarat dan ketentuan/
Dalam mata uang Efektif/ Pertukaran Akhir/
Third parties Dalam AS$/ Terms and conditions
asing/ In foreign Effective Date Final Exchange Date
In US$
currency
Perjanjian swap silang atas mata uang/
Cross-currency swap
PT Bank 49.170.252 Rp800.000.000.000 7 Juli 2025/ 7 Januari 2030/ Perusahaan menerima tingkat bunga tetap per
Maybank July 7, 2025 January 7, 2030 tahun atas nilai nominal Rupiah dan
Indonesia Tbk membayar pada tingkat bunga tetap atas nilai
nominal Dolar AS setiap tanggal 6 Juli, 6
PT Bank 24.562.481 Rp400.000.000.000 7 Juli 2025/ 7 Januari 2030/ Oktober, 6 Januari dan 6 April. Pada
Maybank July 7, 2025 January 7, 2030 pertukaran akhir, Perusahaan membayar nilai
Indonesia Tbk nominal Dolar AS dan menerima nilai nominal
PT Bank Mandiri 29.096.478 Rp475.000.000.000 7 Juli 2025/ 7 Januari 2030/ Rupiah/
(Persero) Tbk July 7, 2025 January 7, 2030 The Company shall receive a fixed interest
rate on the Rupiah notional amount and pay a
PT Bank 26.121.696 Rp425.000.000.000 7 Juli 2025/ 7 Januari 2032/ fixed interest rate on the US Dollar notional
Maybank July 7, 2025 January 7, 2032 amount every July 6, October 6, January 6 and
Indonesia Tbk April 6. On the final exchange date, the
PT Bank UOB 24.524.831 Rp400.000.000.000 7 Juli 2025/ 7 Januari 2032/ Company pays the US Dollar notional amount
Indonesia July 7, 2025 January 7, 2032 and receives the Rupiah notional amount.
PT Bank UOB 30.599.755 Rp500.000.000.000 25 Juni 2025/ 25 Juni 2032/ Perusahaan menerima tingkat bunga tetap per
Indonesia June 25, 2025 June 25, 2032 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 24 Juni, 24 September, 24
Desember dan 24 Maret. Pada pertukaran akhir,
Perusahaan membayar nilai nominal Dolar AS dan
menerima nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notiocal amount
PT Bank Maybank 30.590.395 Rp500.000.000.000 25 Juni 2025/ 25 Juni 2035/ every 24 June, 24 September, 24 Desember and
Indonesia June 25, 2025 June 25, 2035 24 March. On the final exchange date, the
Company pays the US Dollar notional amount and
receives the Rupiah notional amount.
PT Bank CIMB 15.000.000 Rp246.225.000.000 24 Juni 2025/ 23 Juni 2030/ Perusahaan menerima tingkat bunga tetap per
Niaga Tbk June 24, 2025 June 23, 2030 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 23 Maret, 23 Juni, 23
September dan 23 Desember. Perusahaan
membayar nilai nominal Dolar AS dan menerima
nilai nominal Rupiah pada setiap tiga bulan
PT Bank Maybank 45.287.221 Rp747.375.000.000 24 Juni 2025/ 23 Juni 2030/
sampai dengan pertukaran akhir sesuai dengan
Indonesia June 24, 2025 June 23, 2030
jadwal pembayaran/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
PT Bank Mandiri 55.000.000 Rp906.400.000.000 24 Juni 2025/ 23 Juni 2030/
every March 23, June 23, September 23 and
(Persero) Tbk June 24, 2025 June 23, 2030
December 23. The Company pays the US Dollar
notional amount and receives the Rupiah notional
amount for every three months up to the final
exchange date based on the repayment schedule.
141
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2025 Management Business Company Corporate
308 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount Tanggal Tanggal
Pihak ketiga/ Syarat dan ketentuan/
Dalam mata uang Efektif/ Pertukaran Akhir/
Third parties Dalam AS$/ Terms and conditions
asing/ In foreign Effective Date Final Exchange Date
In US$
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank Rakyat 153.374.233 Rp2.500.000.000.000 2 Juni 2025/ 25 Mei 2035/ Perusahaan menerima tingkat bunga tetap per
Indonesia Tbk June 2, 2025 May 25, 2035 tahun atas nilai nominal Rupiah dan
membayar pada tingkat bunga tetap atas nilai
nominal Dolar AS setiap tanggal 25 Agustus,
25 November, 25 Februari dan 25 Mei.
Perusahaan membayar nilai nominal Dolar AS
dan menerima nilai nominal Rupiah pada
setiap tiga bulan sampai dengan pertukaran
akhir sesuai dengan jadwal pembayaran/
The Company shall receive a fixed interest
rate on the Rupiah notional amount and pay a
fixed interest rate on the US Dollar notional
amount every August 25, November 25,
February 25 and May 25. The Company pays
the US Dollar notional amount and receives
the Rupiah notional amount for every three
months up to the final exchange date based on
the repayment schedule.
PT Bank CIMB 9.000.000 Rp147.690.000.000 22 Mei 2025/ 18 September 2029/ Perusahaan menerima tingkat bunga tetap per
Niaga Tbk May 22, 2025 September 18, 2029 tahun atas nilai nominal Rupiah dan
membayar pada tingkat bunga tetap atas nilai
nominal Dolar AS setiap tanggal 18 Juni, 18
September, 18 Desember dan 18 Maret.
Perusahaan membayar nilai nominal Dolar AS
PT Bank OCBC 22.789.041 Rp374.310.000.000 22 Mei 2025/ 18 September 2029/ dan menerima nilai nominal Rupiah pada
NISP May 22, 2025 September 18, 2029 setiap tiga bulan sampai dengan pertukaran
akhir sesuai dengan jadwal pembayaran/
The Company shall receive a fixed interest
rate on the Rupiah notional amount and pay a
fixed interest rate on the US Dollar notional
amount every June 18, September 18,
PT Bank 31.780.822 Rp522.000.000.000 22 Mei 2025/ 18 September 2029/
December 18 and March 18. The Company
Maybank May 22, 2025 September 18, 2029
pays the US Dollar notional amount and
Indonesia
receives the Rupiah notional amount for every
three months up to the final exchange date
based on the repayment schedule.
PT Bank Maybank 20.352.074 Rp314.032.500.000 13 Februari 13 Februari 2031/ Perusahaan menerima tingkat bunga tetap per
Indonesia Tbk 2025/ February 13, 2031 tahun atas nilai nominal Rupiah dan membayar
February 13, pada tingkat bunga tetap atas nilai nominal Dolar
2025 AS setiap tanggal 12 Februari, 12 Mei, 12 Agustus
dan 12 November. Pada pertukaran akhir,
Perusahaan membayar nilai nominal Dolar AS dan
menerima nilai nominal Rupiah/
PT Bank UOB 20.352.074 Rp314.032.500.000 13 Februari 13 Februari 2031/ The Company shall receive a fixed interest rate on
Indonesia 2025/ February 13, 2031 the Rupiah notional amount and pay a fixed
February 13, interest rate on the US Dollar notional amount
2025 every February 12, May 12, August 12 and
November 12. On the final exchange date, the
Company pays the US Dollar notional amount and
receives the Rupiah notional amount.
142
Page 311
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 309
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount Tanggal Tanggal
Pihak ketiga/ Syarat dan ketentuan/
Dalam mata uang Efektif/ Pertukaran Akhir/
Third parties Dalam AS$/ Terms and conditions
asing/ In foreign Effective Date Final Exchange Date
In US$
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank DBS 48.122.449 Rp766.350.000.000 18 Desember 18 September 2029/ Perusahaan menerima tingkat bunga tetap per
Indonesia 2024/ September 18, 2029 tahun atas nilai nominal Rupiah dan membayar
December 18, pada tingkat bunga tetap atas nilai nominal Dolar
2024 AS setiap tanggal 18 Maret, 18 Juni, 18
September dan 18 Desember. Perusahaan
membayar nilai nominal Dolar AS dan menerima
nilai nominal Rupiah pada setiap tiga bulan
sampai dengan pertukaran akhir sesuai dengan
jadwal pembayaran/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
PT Bank UOB 18.000.000 Rp286.650.000.000 18 Desember 18 September 2029/
every March 18, June 18, September 18 and
Indonesia 2024/ September 18, 2029
December 18. The Company pays the US Dollar
December 18,
notional amount and receives the Rupiah notional
2024
amount for every three months up to the final
exchange date based on the repayment schedule.
PT Bank CIMB 23.985.891 Rp388.571.428.571 23 Juli 2024/ 23 Maret 2029/ Perusahaan menerima tingkat bunga tetap per
Niaga Tbk July 23, 2024 March 23, 2029 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 23 Juli, 23 Oktober, 23 Januari,
dan 23 April. Perusahaan membayar nilai nominal
Dolar AS dan menerima nilai nominal Rupiah pada
setiap tiga bulan sampai dengan pertukaran akhir
sesuai dengan jadwal pembayaran/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
PT Bank Mandiri 23.985.891 Rp388.571.428.571 23 Juli 2024/ 23 Maret 2029/ every July 23, October 23, January 23 and April
(Persero) Tbk July 23, 2024 March 23, 2029 23. The Company pays the US Dollar notional
amount and receives the Rupiah notional amount
for every three months up to the final exchange
date based on the repayment schedule.
143
Page 312
2025 Management Business Company Corporate
310 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount Tanggal Tanggal
Pihak ketiga/ Syarat dan ketentuan/
Dalam mata uang Efektif/ Pertukaran Akhir/
Third parties Dalam AS$/ Terms and conditions
asing/ In foreign Effective Date Final Exchange Date
In US$
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank Mandiri 58.679.707 Rp960.000.000.000 21 Juni 2024/ 23 Maret 2029/ Perusahaan menerima tingkat bunga tetap per
(Persero) Tbk June 21, 2024 March 23, 2029 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 23 Juli, 23 Oktober, 23 Januari,
dan 23 April. Perusahaan membayar nilai nominal
Dolar AS dan menerima nilai nominal Rupiah pada
PT Bank CIMB 44.214.153 Rp711.405.714.287 31 May 2024/ 23 Maret 2029/ setiap tiga bulan sampai dengan pertukaran akhir
Niaga Tbk May 31, 2024 March 23, 2029 sesuai dengan jadwal pembayaran/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
PT Bank Maybank 28.288.543 Rp457.142.857.142 31 May 2024/ 23 Maret 2029/ every July 23, October 23, January 23 and April
Indonesia Tbk May 31, 2024 March 23, 2029 23. The Company pays the US Dollar notional
amount and receives the Rupiah notional amount
for every three months up to the final exchange
date based on the repayment schedule.
PT Bank UOB 18.285.714 Rp294.308.571.429 31 May 2024*/ 23 Maret 2029/ Perusahaan menerima tingkat bunga tetap per
Indonesia May 31, 2024* March 23, 2029 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 23 Juli, 23 Oktober, 23 Januari,
dan 23 April. Pertukaran awal terjadi pada tanggal
efektif dimana Perusahaan membayar nilai
nominal Rupiah dan menerima nilai nominal Dolar
AS. Perusahaan membayar nilai nominal Dolar AS
dan menerima nilai nominal Rupiah pada setiap
tiga bulan sampai dengan pertukaran akhir sesuai
dengan jadwal pembayaran/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
every July 23, October 23, January 23 and April
23. Initial exchange occurred on the effective date
in which the Company paid the Rupiah notional
amount and received the US Dollar notional
amount. The Company pays the US Dollar
notional amount and receives the Rupiah notional
amount for every three months up to the final
exchange date based on the repayment schedule.
Catatan: Note:
* tanggal pertukaran awal * initial exchange date
144
Page 313
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 311
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount Tanggal Tanggal
Pihak ketiga/ Syarat dan ketentuan/
Dalam mata uang Efektif/ Pertukaran Akhir/
Third parties Dalam AS$/ Terms and conditions
asing/ In foreign Effective Date Final Exchange Date
In US$
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank ANZ 13.388.141 Rp208.855.000.000 13 Februari 13 Februari 2027/ Perusahaan menerima tingkat bunga tetap per
Indonesia 2024/ February 13, 2027 tahun atas nilai nominal Rupiah dan membayar
February 13, pada tingkat bunga tetap atas nilai nominal Dolar
2024 AS setiap tanggal 12 Februari, 12 Mei, 12 Agustus
dan 12 November. Pada pertukaran akhir,
Perusahaan membayar nilai nominal Dolar AS dan
menerima nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
every February 12, May 12, August 12 and
November 12. On the final exchange date, the
PT Bank CIMB 27.454.131 Rp427.955.000.000 13 Februari 13 Februari 2029/ Company pays the US Dollar notional amount and
Niaga Tbk 2024/ February 13, 2029 receives the Rupiah notional amount.
February 13,
2024
PT Bank Maybank 15.000.000 Rp235.125.000.000 13 Februari 13 Februari 2031/
Indonesia Tbk 2024/ February 13, 2031
February 13,
2024
PT Bank Maybank 13.718.676 Rp214.28.5714.285 10 November 23 Juni 2028/ Perusahaan menerima tingkat bunga tetap per
Indonesia Tbk 2023*/ June 23, 2028 tahun atas nilai nominal Rupiah dan membayar
November 10, pada tingkat bunga tetap atas nilai nominal Dolar
2023* AS setiap tanggal 23 Juni, 23 September, 23
Desember, dan 23 Maret. Pertukaran awal terjadi
pada tanggal efektif dimana Perusahaan
membayar nilai nominal Rupiah dan menerima
PT Bank CIMB 41.474.654 Rp642.857.142.859 8 November 23 Juni 2028/ nilai nominal Dolar AS. Perusahaan membayar
Niaga Tbk 2023*/ June 23, 2028 nilai nominal Dolar AS dan menerima nilai nominal
November 8, Rupiah pada setiap tiga bulan sampai dengan
2023* pertukaran akhir sesuai dengan jadwal
pembayaran/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
PT Bank Mandiri 72.936.833 Rp1.157.142.857.142 7 November 23 Juni 2028/ interest rate on the US Dollar notional amount
(Persero) Tbk 2023*/ June 23, 2028 every June 23, September 23, December 23 and
November 7, March 23. Initial exchange occurred on the
2023* effective date in which the Company paid the
Rupiah notional amount and received the US
PT Bank DBS 34.985.423 Rp557.142.857.143 6 November 23 Juni 2028/ Dollar notional amount. The Company pays the
Indonesia 2023*/ June 23, 2028 US Dollar notional amount and receives the
November 6, Rupiah notional amount for every three months up
2023* to the final exchange date based on the
repayment schedule.
PT Bank UOB 34.985.423 Rp557.142.857.143 6 November 23 Juni 2028/
Indonesia 2023*/ June 23, 2028
November 6,
2023*
PT Bank DBS 43.086.037 Rp685.714.285.714 1 November 23 Juni 2028/
Indonesia 2023*/ June 23, 2028
November 1,
2023*
PT Bank Maybank 42.991.491 Rp685.714.285.714 1 November 23 Juni 2028/
Indonesia Tbk 2023*/ June 23, 2028
November 1,
2023*
Catatan: Note:
* tanggal pertukaran awal * initial exchange date
145
Page 314
2025 Management Business Company Corporate
312 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount
Tanggal Tanggal
Pihak ketiga/ Dalam mata uang Syarat dan ketentuan/
Dalam AS$/ Efektif/ Pertukaran Akhir/
Third parties asing/ In foreign Terms and conditions
In US$ Effective Date Final Exchange Date
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank CIMB 10.000.000 Rp150.000.000.000 7 Juli 2023*/ 7 Juli 2026/ Perusahaan menerima tingkat bunga tetap per
Niaga Tbk July 7, 2023* July 7, 2026 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 6 Juli, 6 Oktober, 6 Januari dan
6 April. Pertukaran awal terjadi pada tanggal
efektif dimana Perusahaan membayar nilai
nominal Rupiah dan menerima nilai nominal Dolar
PT Bank UOB 17.333.333 Rp260.000.000.000 7 Juli 2023*/ 7 Juli 2028/ AS. Pada pertukaran akhir, Perusahaan
Indonesia July 7, 2023* July 7, 2028 membayar nilai nominal Dolar AS dan menerima
nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
every July 6, October 6, January 6 and April 6.
PT Bank Maybank 39.333.333 Rp590.000.000.000 7 Juli 2023*/ 7 Juli 2030/ Initial exchange occurred on the effective date in
Indonesia Tbk July 7, 2023* July 7, 2030 which the Company paid the Rupiah notional
amount and received the US Dollar notional
amount. On the final exchange date, the Company
pays the US Dollar notional amount and receives
the Rupiah notional amount.
PT Bank Mandiri 59.606.880 Rp892.315.000.000 26 Juli 2022*/ 26 Juli 2025/ Perusahaan menerima tingkat bunga tetap per
(Persero) Tbk July 26, 2022* July 26, 2025 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 25 Juli, 25 Oktober, 25 Januari
Telah diselesaikan pada dan 25 April. Pertukaran awal terjadi pada tanggal
bulan Juli 2025/ efektif dimana Perusahaan membayar nilai
Settled in July 2025 nominal Rupiah dan menerima nilai nominal Dolar
AS. Pada pertukaran akhir, Perusahaan
PT Bank CIMB 43.420.174 Rp650.000.000.000 26 Juli 2022*/ 26 Juli 2025/ membayar nilai nominal Dolar AS dan menerima
Niaga Tbk July 26, 2022* July 26, 2025 nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
Telah diselesaikan pada the Rupiah notional amount and pay a fixed
bulan Juli 2025/ interest rate on the US Dollar notional amount
Settled in July 2025 every July 25, October 25, January 25 and April
25. Initial exchange occurred on the effective date
PT Bank DBS 23.380.094 Rp350.000.000.000 26 Juli 2022*/ 26 Juli 2025/ in which the Company paid the Rupiah notional
Indonesia July 26, 2022* July 26, 2025 amount and received the US Dollar notional
amount. On the final exchange date, the Company
Telah diselesaikan pada pays the US Dollar notional amount and receives
bulan Juli 2025/ the Rupiah notional amount.
Settled in July 2025
PT Bank DBS 6.662.225 Rp100.000.000.000 26 Juli 2022/ 26 Juli 2027/ Perusahaan menerima tingkat bunga tetap per
Indonesia July 26, 2022 July 26, 2027 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
AS setiap tanggal 25 Juli, 25 Oktober, 25 Januari
PT Bank Maybank 28.075.616 Rp421.415.000.000 26 Juli 2022/ 26 Juli 2027/ dan 25 April. Pada pertukaran akhir, Perusahaan
Indonesia Tbk July 26, 2022 July 26, 2027 membayar nilai nominal Dolar AS dan menerima
nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
PT Bank Maybank 19.058.628 Rp286.070.000.000 26 Juli 2022/ 26 Juli 2029/ the Rupiah notional amount and pay a fixed
Indonesia Tbk July 26, 2022 July 26, 2029 interest rate on the US Dollar notional amount
every July 25, October 25, January 25 and April
25. On the final exchange date, the Company
PT Bank UOB 20.000.000 Rp300.200.000.000 26 Juli 2022/ 26 Juli 2029/ pays the US Dollar notional amount and receives
Indonesia July 26, 2022 July 26, 2029 the Rupiah notional amount.
Catatan: Note:
* tanggal pertukaran awal * initial exchange date
146
Page 315
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 313
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount
Tanggal Tanggal
Pihak ketiga/ Dalam mata uang Syarat dan ketentuan/
Dalam AS$/ Efektif/ Pertukaran Akhir/
Third parties asing/ In foreign Terms and conditions
In US$ Effective Date Final Exchange Date
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank Mandiri 14.437.951 Rp210.000.000.000 15 Juni 2022*/ 23 Juni 2024/ Perusahaan menerima tingkat bunga tetap per
(Persero) Tbk June 15, 2022* June 23, 2024 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
Telah diselesaikan pada AS setiap tanggal 23 Juni, 23 September, 23
bulan Juni 2024/ Desember dan 23 Maret. Pertukaran awal terjadi
Settled in June 2024 pada tanggal efektif dimana Perusahaan
membayar nilai nominal Rupiah dan menerima
nilai nominal Dolar AS. Perusahaan membayar
nilai nominal Dolar AS dan menerima nilai nominal
Rupiah pada setiap tiga bulan sampai dengan
pertukaran akhir sesuai dengan jadwal
pembayaran/
PT Bank Maybank 14.428.032 Rp210.000.000.000 15 Juni 2022*/ 23 Juni 2024/ The Company shall receive a fixed interest rate on
Indonesia Tbk June 15, 2022* June 23, 2024 the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
Telah diselesaikan pada every June 23, September 23, December 23 and
bulan Juni 2024/ March 23. Initial exchange occurred on the
Settled in June 2024 effective date in which the Company paid the
Rupiah notional amount and received the US
Dollar notional amount. The Company pays the
US Dollar notional amount and receives the
Rupiah notional amount for every three months up
to the final exchange date based on the
repayment schedule.
PT Bank DBS 33.068.996 Rp470.902.500.000 23 November 23 November 2024/ Perusahaan menerima tingkat bunga tetap per
Indonesia 2021*/ November 23, 2024 tahun atas nilai nominal Rupiah dan membayar
November 23, pada tingkat bunga tetap atas nilai nominal Dolar
2021* AS setiap tanggal 22 November, 22 Februari, 22
Telah diselesaikan pada Mei dan 22 Agustus. Pertukaran awal terjadi pada
bulan November 2024/ tanggal efektif dimana Perusahaan membayar
Settled in November nilai nominal Rupiah dan menerima nilai nominal
2024 Dolar AS. Pada pertukaran akhir, Perusahaan
membayar nilai nominal Dolar AS dan menerima
PT Bank CIMB 33.092.235 Rp470.902.500.000 23 November 23 November 2024/ nilai nominal Rupiah/
Niaga Tbk 2021*/ November 23, 2024 The Company shall receive a fixed interest rate on
November 23, the Rupiah notional amount and pay a fixed
2021* interest rate on the US Dollar notional amount
Telah diselesaikan pada every November 22, February 22, May 22 and
bulan November 2024/ August 22. Initial exchange occurred on the
Settled in November effective date in which the Company paid the
2024 Rupiah notional amount and received the US
PT Bank UOB 4.089.599 Rp58.195.000.000 23 November 23 November 2026/ Dollar notional amount. On the final exchange
Indonesia 2021*/ November 23, 2026 date, the Company pays the US Dollar notional
November 23, amount and receives the Rupiah notional amount.
2021*
Catatan: Note:
* tanggal pertukaran awal * initial exchange date
147
Page 316
2025 Management Business Company Corporate
314 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount
Tanggal Tanggal
Pihak ketiga/ Dalam mata uang Syarat dan ketentuan/
Dalam AS$/ Efektif/ Pertukaran Akhir/
Third parties asing/ In foreign Terms and conditions
In US$ Effective Date Final Exchange Date
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank Mandiri 28.070.175 Rp400.000.000.000 9 September 9 September 2024/ Perusahaan menerima tingkat bunga tetap per
(Persero) Tbk 2021*/ September 9, 2024 tahun atas nilai nominal Rupiah dan membayar
September 9, pada tingkat bunga tetap atas nilai nominal Dolar
2021* Telah diselesaikan pada AS setiap tanggal 8 September, 8 Desember, 8
bulan September 2024/ Maret dan 8 Juni. Pertukaran awal terjadi pada
Settled in September tanggal efektif dimana Perusahaan membayar
2024 nilai nominal Rupiah dan menerima nilai nominal
Dolar AS. Pada pertukaran akhir, Perusahaan
membayar nilai nominal Dolar AS dan menerima
nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
every September 8, December 8, March 8 and
June 8. Initial exchange occurred on the effective
date in which the Company paid the Rupiah
notional amount and received the US Dollar
notional amount. On the final exchange date, the
Company pays the US Dollar notional amount and
receives the Rupiah notional amount.
PT Bank Mandiri 10.526.316 Rp150.000.000.000 9 September 9 September 2026/
(Persero) Tbk 2021*/ September 9, 2026
September 9,
2021*
PT Bank Maybank 31.545.741 Rp450.000.000.000 9 September 9 September 2026/
Indonesia Tbk 2021*/ September 9, 2026
September 9,
2021*
PT Bank Mandiri 31.862.745 Rp455.000.000.000 2 Juni 2021*/ 23 Juni 2024/ Perusahaan menerima tingkat bunga tetap per
(Persero) Tbk June 2, 2021* June 23, 2024 tahun atas nilai nominal Rupiah dan membayar
pada tingkat bunga tetap atas nilai nominal Dolar
Telah diselesaikan pada AS setiap tanggal 23 Juni, 23 September, 23
bulan Juni 2024/ Desember dan 23 Maret. Pertukaran awal terjadi
Settled in June 2024 pada tanggal efektif dimana Perusahaan
membayar nilai nominal Rupiah dan menerima
nilai nominal Dolar AS. Perusahaan membayar
PT Bank Permata 7.342.657 Rp105.000.000.000 2 Juni 2021*/ 23 Juni 2024/ nilai nominal Dolar AS dan menerima nilai nominal
Tbk June 2, 2021* June 23, 2024 Rupiah pada setiap tiga bulan sampai dengan
pertukaran akhir sesuai dengan jadwal
Telah diselesaikan pada pembayaran/
bulan Juni 2024/ The Company shall receive a fixed interest rate on
Settled in June 2024 the Rupiah notional amount and pay a fixed
interest rate on the US Dollar notional amount
every June 23, September 23, December 23 and
March 23. Initial exchange occurred on the
PT Bank UOB 4.895.105 Rp70.000.000.000 2 Juni 2021*/ 21 Juni 2024/ effective date in which the Company paid the
Indonesia June 2, 2021* June 21, 2024 Rupiah notional amount and received the US
Dollar notional amount. The Company pays the
Telah diselesaikan pada US Dollar notional amount and receives the
bulan Juni 2024/ Rupiah notional amount for every three months up
Settled in June 2024 to the final exchange date based on the
repayment schedule.
Catatan: Note:
* tanggal pertukaran awal * initial exchange date
148
Page 317
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 315
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Nilai Notional/Notional Amount
Tanggal Tanggal
Pihak ketiga/ Dalam mata uang Syarat dan ketentuan/
Dalam AS$/ Efektif/ Pertukaran Akhir/
Third parties asing/ In foreign Terms and conditions
In US$ Effective Date Final Exchange Date
currency
Perjanjian swap silang atas mata uang (lanjutan)/
Cross-currency swap (continued)
PT Bank UOB 14.593.214 Rp200.000.000.000 20 Februari 20 Februari 2025/ Perusahaan menerima tingkat bunga tetap per
Indonesia 2020*/ February 20, 2025 tahun atas nilai nominal Rupiah dan membayar
February 20, pada tingkat bunga tetap atas nilai nominal Dolar
2020* AS setiap tanggal 19 Februari, 19 Mei, 19 Agustus
Telah diselesaikan pada dan 19 November. Pertukaran awal terjadi pada
bulan Februari 2025/ tanggal efektif dimana Perusahaan membayar
Settled in February 2025 nilai nominal Rupiah dan menerima nilai nominal
Dolar AS. Pada pertukaran akhir, Perusahaan
membayar nilai nominal Dolar AS dan menerima
nilai nominal Rupiah/
The Company shall receive a fixed interest rate on
PT Bank CIMB 20.160.525 Rp276.300.000.000 20 Februari 20 Februari 2025/ the Rupiah notional amount and pay a fixed
Niaga Tbk 2020*/ February 20, 2025 interest rate on the US Dollar notional amount
February 20, every February 19, May 19, August 19 and
2020* November 19. Initial exchange occurred on the
Telah diselesaikan pada effective date in which the Company paid the
bulan Februari 2025/ Rupiah notional amount and received the US
Settled in February 2025 Dollar notional amount. On the final exchange
date, the Company pays the US Dollar notional
amount and receives the Rupiah notional amount.
Perjanjian swap atas suku bunga/
Interest rate swap
Australia and New 46.700.000 N/A 27 Maret 2023/ 31 Desember 2028/ MEPM menerima tingkat suku bunga
Zealand Banking March 27, 2023 December 31, 2028 mengambang dengan basis compounding SOFR
Group Limited per tahun dan membayar pada tingkat suku bunga
Telah diselesaikan lebih tetap per tahun setiap tanggal 31 Maret, 30 Juni,
cepat pada bulan Juni 30 September dan 31 Desember/
2025/ MEPM shall receive a floating compunding SOFR-
Terminated in Juni 2025 based interest rate per annum and pay a fixed
interest rate per annum every March 31, June 30,
Societe Generale 46.700.000 N/A 27 Maret 2023/ 31 Desember 2028/
March 27, 2023 December 31, 2028 September 30 and December 31.
Telah diselesaikan lebih
cepat pada bulan Juni
2025/
Terminated in Juni 2025
ING Bank N.V. 46.700.000 N/A 27 Maret 2023/ 31 Desember 2028/
March 27, 2023 December 31, 2028
Telah diselesaikan lebih
cepat pada bulan Juni
2025/
Terminated in Juni 2025
MUFG Bank, Ltd. 54.482.798 N/A 27 November 18 Maret 2039/ MRPR menerima suku bunga mengambang USD-
2019/ March 18, 2039 SOFR 6 bulan ditambah spread dan membayar
November 27, suku bunga tetap per tahun setiap tanggal 23
2019 Februari dan 23 Agustus/
MRPR shall receive a floating 6 months USD-
Sumitomo Mitsui 54.482.798 N/A 27 November 18 Maret 2039/ SOFR based interest rate plus spread and pay a
Banking 2019/ March 18, 2039 fixed interest rate per annum on every February
Corporation November 27, 23 and August 23.
2019
International 31.676.045 N/A 27 November 18 Maret 2039/
Finance 2019/ March 18, 2039
Corporation November 27,
2019
Catatan: Note:
* tanggal pertukaran awal * initial exchange date
149
Page 318
2025 Management Business Company Corporate
316 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Tanggal Tanggal Pertukaran
Pihak ketiga/ Nilai Notional/ Syarat dan ketentuan/
Efektif/ Akhir/
Third parties Notional Amount Terms and conditions
Effective Date Final Exchange Date
Perjanjian Collar komoditas pada Brent/
Commodity Collar agreement on Brent
Morgan Stanley & 60.000 barel/ 1 April 2024/ 30 September 2024/ Jika harga mengambang pada saat tanggal
Co. International 60,000 barrels April 1, 2024 September 30, 2024 pembayaran lebih besar dari harga kesepakatan
plc tertinggi, maka pada tanggal pembayaran,
Telah diselesaikan pada Perusahaan akan membayar selisihnya/
bulan September 2024/ If the floating price in respect of a payment date is
Settled in September greater than the upper strike price, then on the
2024 relevant payment date, the Company will pay the
difference.
Morgan Stanley & 90.000 barel/ 1 April 2024/ 31 Desember 2024/
Co. International 90,000 barrels April 1, 2024 December 31, 2024 Jika harga mengambang pada saat tanggal
plc pembayaran lebih rendah dari harga kesepakatan
tertinggi dan sama atau lebih tinggi dari harga
Telah diselesaikan pada kesepakatan terendah, maka tidak ada settlement/
bulan Desember 2024/ If the floating price in respect of a payment date is
Settled in December lower than the upper strike price and equal to or
2024 greater than the lower strike price, then no
ING Bank N.V. 100.000 barel/ 1 March 2024/ 31 Desember 2024/ settlement.
100,000 barrels March 1, 2024 December 31, 2024 Jika harga mengambang pada saat tanggal
pembayaran lebih rendah dari harga kesepakatan
Telah diselesaikan pada terendah, maka pada tanggal pembayaran, pihak
bulan Desember 2024/ ketiga akan membayar selisihnya/
Settled in December If the floating price in respect of a payment date is
2024 lower than the lower strike price, then on the
J.P. Morgan 60.000 barel/ 1 March 2024/ 31 Agustus 2024/ relevant payment date, the counterparty will pay
60,000 barrels March 1, 2024 August 31, 2024 the difference.
Telah diselesaikan pada
bulan Agustus 2024/
Settled in August 2024
J.P. Morgan 100.000 barel/ 1 March 2024/ 31 Desember 2024/
100,000 barrels March 1, 2024 December 31, 2024
Telah diselesaikan pada
bulan Desember 2024/
Settled in December
2024
J.P. Morgan 60.000 barel/ 1 Februari 2024/ 31 Juli 2024/
60,000 barrels February 1, 2024 July 31, 2024
Telah diselesaikan pada
bulan Juli 2024/
Settled in July 2024
150
Page 319
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 317
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVES (continued)
Informasi lebih lanjut mengenai berbagai kontrak Further information relating to the derivatives
derivatif Grup adalah sebagai berikut: (lanjutan) undertaken by the Group is as follows: (continued)
Tanggal
Pihak ketiga/ Nilai Notional/ Tanggal Pertukaran Akhir/ Syarat dan ketentuan/
Efektif/
Third parties Notional Amount Final Exchange Date Terms and conditions
Effective Date
Perjanjian Collar Komoditas pada Brent/ (lanjutan)
Commodity Collar Agreement on Brent (continued)
Morgan Stanley & 120.000 barel/ 1 Januari 2024/ 31 Desember 2024/ Jika harga mengambang pada saat tanggal
Co. International 120,000 barrels January 1, 2024 December 31, 2024 pembayaran lebih besar dari harga kesepakatan
plc tertinggi, maka pada tanggal pembayaran,
Telah diselesaikan pada Perusahaan akan membayar selisihnya/
bulan Desember 2024/ If the floating price in respect of a payment date
Settled in December 2024 is greater than the upper strike price, then on
Morgan Stanley & 120.000 barel/ 1 Januari 2024/ 31 Desember 2024/ the relevant payment date, the Company will
Co. International 120,000 barrels January 1, 2024 December 31, 2024 pay the difference.
plc
Jika harga mengambang pada saat tanggal
Telah diselesaikan pada
pembayaran lebih rendah dari harga
bulan Desember 2024/
kesepakatan tertinggi dan sama atau lebih tinggi
Settled in December 2024
dari harga kesepakatan terendah, maka tidak
Natixis 120.000 barel/ 1 Januari 2024/ 31 Desember 2024/
ada settlement/
120,000 barrels January 1, 2024 December 31, 2024
If the floating price in respect of a payment date
is lower than the upper strike price and equal to
Telah diselesaikan pada
or greater than the lower strike price, then no
bulan Desember 2024/
settlement.
Settled in December 2024
Standard Chartered Bank 120.000 barel/ 1 Januari 2024/ 31 Desember 2024/ Jika harga mengambang pada saat tanggal
120,000 barrels January 1, 2024 December 31, 2024 pembayaran lebih rendah dari harga
kesepakatan terendah, maka pada tanggal
Telah diselesaikan pada pembayaran, pihak ketiga akan membayar
bulan Desember 2024/ selisihnya/
Settled in December 2024 If the floating price in respect of a payment date
ING Bank N.V. 120.000 barel/ 1 Januari 2024/ 31 Desember 2024/ is lower than the lower strike price, then on the
120,000 barrels January 1, 2024 December 31, 2024 relevant payment date, the counterparty will pay
the difference.
Telah diselesaikan pada
bulan Desember 2024/
Settled in December 2024
ING Bank N.V. 120.000 barel/ 1 September 2023/ 31 Agustus 2024/
120,000 barrels September 1, 2023 August 31, 2024
Telah diselesaikan pada
bulan Agustus 2024/
Settled in August 2024
Natixis 120.000 barel/ 1 Agustus 2023/ 31 Juli 2024/
120,000 barrels August 1, 2023 July 31, 2024
Telah diselesaikan pada
bulan Juli 2024/
Settled in July 2024
Standard Chartered Bank 120.000 barel/ 1 Agustus 2023/ 31 Juli 2024/
120,000 barrels August 1, 2023 July 31, 2024
Telah diselesaikan pada
bulan Juli 2024/
Settled in July 2024
Morgan Stanley & 120.000 barel/ 1 Juli 2023/ 30 Juni 2024/
Co. International 120,000 barrels July 1, 2023 June 30, 2024
plc
Telah diselesaikan pada
bulan Juni 2024/
Settled in June 2024
Morgan Stanley & 120.000 barel/ 1 Juli 2023/ 30 Juni 2024/
Co. International 120,000 barrels July 1, 2023 June 30, 2024
plc
Telah diselesaikan pada
bulan Juni 2024/
Settled in June 2024
151
Page 320
2025 Management Business Company Corporate
318 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK 28. BANK LOANS
a. Pinjaman bank a. Bank loans
2025
Pembayaran
Jatuh tempo selama periode
dalam satu berjalan/
Debitur/ Jumlah/ Jangka Pendek/ tahun/Maturing Jangka Panjang/ Payments during
Kreditur/Lenders Borrower Total Short-term within one year Non-current the period
Dolar AS/US Dollar
Pinjaman Sindikasi/ PT Medco E & P Tomori
Syndicated loan 1) Sulawesi – – – – 3.000.000
PT Medco E & P Malaka – – – – 141.000.000
Konsorsium Pemberi Pinjaman
Riau/Riau Lenders Consortium 2) PT Medco Ratch Power Riau 186.350.112 – 10.942.306 175.407.806 10.236.350
Pinjaman Sindikasi/ Syndicated
loan 3) Medco E&P Grissik Ltd. – – – – 155.000.000
PT Bank QNB Indonesia Perusahaan/The Company – – – – 33.000.000
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
PT Bank Woori Saudara Indonesia
1906 Tbk 5) PT Medco Power Indonesia – – – – 3.089.563
- Fasilitas Kredit Pendanaan Umum/
General Financing Credit Facility
PT Bank Syariah Indonesia Tbk PT Energi Listrik Batam 67.080.759 – 11.155.019 55.925.740 24.273.728
- Fasilitas Musyarakah
Mutanaqishah/Musyarakah
Mutanaqishah Facility
- Fasilitas Musyarakah/Musyarakah
Facility
- Fasilitas Kafalah bil Ujrah/Kafalah
bil Ujrah Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Solar Bali Timur 9.012.312 – 504.332 8.507.980 1.345.500
- Fasilitas Kredit Investasi/
Investment Credit Facility
PT Bank Mandiri (Persero) Tbk PT Medco Power Indonesia - - – – 2.357.647
- Fasilitas Pinjaman Non-Cash/Non-
Cash Loan Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Power Indonesia - - – – 17.053.414
- Fasilitas Pinjaman Non-Cash/Non-
Cash Loan Facility
PT Bank Tabungan Negara
(Persero) Tbk PT Medco Power Indonesia - - – – 7.962.102
- Fasilitas Pinjaman Non-Cash/Non-
Cash Loan Facility
Pinjaman Sindikasi/ Syndicated Medco E&P Grissik Ltd. 108.330.357 – 23.683.393 84.646.964 1.669.643
loan 4)
Pinjaman Sindikasi/ Syndicated Far East Energy Trading Pte. 167.419.643 – 36.601.607 130.818.036 2.580.357
loan 4) Ltd.
PT Bank CIMB Niaga Tbk Perusahaan/The Company – – – – 45.000.000
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
Standard Chartered Bank Perusahaan/The Company – – – – 50.000.000
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
PT Bank Maybank Indonesia Tbk Perusahaan/The Company – – – – 14.000.000
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
Sub-jumlah/Sub-total 538.193.183 – 82.886.657 455.306.526 511.568.304
152
Page 321
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 319
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
2025
Pembayaran
Jatuh tempo selama tahun
dalam satu berjalan/
Jangka Pendek/ tahun/Maturing Jangka Panjang/ Payments during
Kreditur/Lenders Debitur/Borrower Jumlah/Total Short-term within one year Non-current the year
Rupiah/Rupiah
PT Bank Mandiri (Persero) Tbk Perusahaan/The Company 572.041.474 – 72.756.525 499.284.949 54.304.335
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Power Indonesia – – – – 491.628
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Syariah Indonesia Tbk PT Medco Power Indonesia 15.062.385 – 1.585.514 13.476.871 807.522
- Fasilitas Musyarakah/Musyarakah
Facility
PT Bank Tabungan Negara
(Persero) Tbk PT Medco Power Indonesia 7.508.045 – 2.145.156 5.362.889 24.490.904
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Mandiri (Persero) Tbk PT Medco Power Indonesia 40.503.666 – 4.767.012 35.736.654 7.371.675
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Syariah Indonesia Tbk PT Energi Listrik Batam – – – – 16.752.600
- Fasilitas Musyarakah/Musyarakah
Facility
PT Bank Maybank Indonesia Tbk PT Medco Power Indonesia 2.979.383 2.979.383 – – 44.661.569
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
PT Bank KEB Hana Indonesia PT Medco Power Indonesia 7.954.952 – 1.072.578 6.882.374 1.001.509
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank DBS Indonesia Perusahaan/The Company 124.955.310 – 27.767.847 97.187.463 14.067.571
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Negara Indonesia PT Medco Solar Bali Timur 2.020.375 – 113.061 1.907.314 192.421
(Persero) Tbk
- Fasilitas Kredit Investasi/
Investment Credit Facility
PT Bank Rakyat Indonesia (Persero) Perusahaan/The Company 148.969.134 – 744.846 148.224.288 –
Tbk
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Negara Indonesia PT Mitra Energi Pelayaran 107.446.967 – 5.603.563 101.843.404 1.360.818
(Persero) Tbk
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Mandiri (Persero) Tbk PT Satria Raksa Buminusa 76.421.166 – 1.370.516 75.050.650 –
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
Sub-jumlah/Sub-total 1.105.862.857 2.979.383 117.926.618 984.956.856 165.502.552
Jumlah/Total 1.644.056.040 2.979.383 200.813.275 1.440.263.382 677.070.856
Dikurangi diskonto yang belum
diamortisasi/ Less unamortized
discount 34.326.779 – 4.414.558 29.912.221
Neto/Net 1.609.729.261 2.979.383 196.398.717 1.410.351.161
153
Page 322
2025 Management Business Company Corporate
320 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
2024
Pembayaran
Jatuh tempo selama tahun
dalam satu berjalan/
Jangka Pendek/ tahun/Maturing Jangka Panjang/ Payments during
Kreditur/Lenders Debitur/Borrower Jumlah/Total Short-term within one year Non-current the year
Dolar AS/US Dollar
Pinjaman Sindikasi/ PT Medco E & P Tomori
Syndicated loan 1) Sulawesi 3.000.000 – – 3.000.000 –
PT Medco E & P Malaka 141.000.000 – – 141.000.000 –
Konsorsium Pemberi Pinjaman PT Medco Ratch Power
Riau/Riau Lenders Consortium 2) Riau 196.586.462 – 10.236.350 186.350.112 9.596.579
Pinjaman Sindikasi/
Syndicated loan 3) Medco E&P Grissik Ltd. 155.000.000 – 80.700.000 74.300.000 –
PT HSBC Indonesia Perusahaan/The Company – – – – 35.000.000
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank DBS Indonesia Perusahaan/The Company – – – – 50.000.000
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
PT Bank Woori Saudara Indonesia
1906 Tbk 5) PT Medco Power Indonesia 3.250.000 – – 3.250.000 36.450.000
- Fasilitas Kredit Pendanaan Umum/
General Financing Credit Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Power Indonesia 14.645.835 14.645.835 – – 29.289.669
- Fasilitas Kredit Term Loan/ Credit
Term Loan Facility
PT Bank Syariah Indonesia Tbk PT Medco Power Indonesia – – – – 7.200.000
- Fasilitas Musyarakah
Mutanaqishah/Musyarakah
Mutanaqishah Facility
- Fasilitas Musyarakah/ Musyarakah
Facility
- Fasilitas Kafalah bil Ujrah/ Kafalah
bil Ujrah Facility
PT Bank Syariah Indonesia Tbk PT Energi Listrik Batam 29.636.717 – 5.986.029 23.650.688 5.670.593
- Fasilitas Musyarakah
Mutanaqishah/Musyarakah
Mutanaqishah Facility
- Fasilitas Musyarakah/Musyarakah
Facility
- Fasilitas Kafalah bil Ujrah/Kafalah bil
Ujrah Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Solar Bali Timur 5.267.668 – – 5.267.668 –
- Fasilitas Kredit Investasi/
Investment Credit Facility
PT Bank Mandiri (Persero) Tbk PT Medco Power Indonesia 2.205.376 2.205.376 – – 10.846.729
- Fasilitas Pinjaman Non-Cash/Non-
Cash Loan Facility
PT Bank Tabungan Negara
(Persero) Tbk PT Medco Power Indonesia 7.440.104 7.440.104 – – 6.218.925
- Fasilitas Pinjaman Non-Cash/Non-
Cash Loan Facility
Sub-jumlah/Sub-total 558.032.162 24.291.315 96.922.379 436.818.468 190.272.495
Rupiah/Rupiah
PT Bank Mandiri (Persero) Tbk Perusahaan/The Company 532.112.362 – 55.686.177 476.426.185 78.164.533
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Power Indonesia 472.370 472.370 – – 28.041.571
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
154
Page 323
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 321
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
2024
Pembayaran
Jatuh tempo selama tahun
dalam satu berjalan/
Jangka Pendek/ tahun/Maturing Jangka Panjang/ Payments during
Kreditur/Lenders Debitur/Borrower Jumlah/Total Short-term within one year Non-current the year
Rupiah/Rupiah (lanjutan)/(continued)
PT Bank Syariah Indonesia Tbk PT Medco Power Indonesia 11.142.247 – 557.112 10.585.135 28.428.094
- Fasilitas Musyarakah/Musyarakah
Facility
PT Bank Tabungan Negara
(Persero) Tbk PT Medco Power Indonesia 29.896.074 20.986.285 1.113.724 7.796.065 15.253.558
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Mandiri (Persero) Tbk PT Medco Power 6.466.945 6.466.945 – – 18.802.843
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Syariah Indonesia Tbk PT Energi Listrik Batam 12.080.458 – – 12.080.458 –
- Fasilitas Musyarakah/Musyarakah
Facility
PT Bank Maybank Indonesia Tbk PT Medco Power Indonesia 45.526.901 2.474.941 2.165.574 40.886.386 10.361.216
- Fasilitas Kredit Jangka Pendek/
Short Term Loan Facility
PT Bank KEB Hana Indonesia PT Medco Power Indonesia 9.281.029 – 1.020.913 8.260.116 –
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank DBS Indonesia Perusahaan/The Company 72.392.031 – 7.239.203 65.152.828 –
- Fasilitas Kredit Term Loan/Credit
Term Loan Facility
PT Bank Negara Indonesia
(Persero) Tbk PT Medco Solar Bali Timur 869.761 – – 869.761 –
- Fasilitas Kredit Investasi/
Investment Credit Facility
Sub-jumlah/Sub-total 720.240.178 30.400.541 67.782.703 622.056.934 179.051.815
Jumlah/Total 1.278.272.340 54.691.856 164.705.082 1.058.875.402 369.324.310
Dikurangi diskonto yang belum
diamortisasi/ Less unamortized
discount 32.648.799 – 2.203.166 30.445.633
Neto/Net 1.245.623.541 54.691.856 162.501.916 1.028.429.769
Catatan: Notes:
(1) Pinjaman sindikasi PT Medco E & P Malaka dan PT Medco E & P Tomori (1) Syndicated loan of PT Medco E & P Malaka and PT Medco E & P Tomori
Sulawesi terdiri dari Australia and New Zealand Banking Group Limited, ING Sulawesi from lenders which comprised of Australia and New Zealand Banking
Bank N.V., Cabang Singapura, PT Bank ANZ Indonesia, Societe Generale, Group Limited, ING Bank N.V., Singapore Branch, PT Bank ANZ Indonesia,
Cabang Singapura, PT Bank DBS Indonesia, PT Bank Mandiri (Persero) Tbk, Societe Generale, Singapore Branch, PT Bank DBS Indonesia, PT Bank Mandiri
Cabang Singapura, BNP Paribas, Credit Agricole Corporate and Investment (Persero) Tbk, Singapore Branch, BNP Paribas, Credit Agricole Corporate and
Bank, MUFG Bank, Ltd. dan PT Bank UOB Indonesia. Investment Bank, MUFG Bank, Ltd. and PT Bank UOB Indonesia.
(2) Konsorsium pemberi pinjaman untuk PT Medco Ratch Power Riau terdiri dari (2) Consortium of lenders for PT Medco Ratch Power Riau comprised of Asian
Asian Development Bank (ADB), dan International Finance Corporation (IFC), Development Bank (ADB) and International Finance Corporation (IFC), and
serta lembaga keuangan swasta yang terdiri dari MUFG Bank Ltd (MUFG) dan private financial institutions consist of MUFG Bank Ltd (MUFG) and Sumitomo
Sumitomo Mitsui Banking Corporation (SMBC). MUFG dan SMBC secara Mitsui Banking Corporation (SMBC). MUFG and SMBC altogether referred to as
bersama-sama disebut sebagai “Peserta”. Selanjutnya, ADB, IFC dan Peserta “Participants”. ADB, IFC, and the Participants altogether referred to as
secara bersama-sama disebut sebagai “Pemberi Pinjaman”. “Lenders”.
(3) Pinjaman sindikasi Medco E&P Grissik Ltd. terdiri dari PT Bank Mandiri (3) Syndicated loan of Medco E&P Grissik Ltd. from lenders which comprised of PT
(Persero) Tbk, Australia and New Zealand Banking Group Limited, Cabang Bank Mandiri (Persero) Tbk, Australia and New Zealand Banking Group Limited,
Singapura, Credit Agricole Corporate and Investment Bank, Cabang Singapura, Singapore Branch, Credit Agricole Corporate and Investment Bank, Singapore
DBS Bank Ltd., ING Bank N.V., Cabang Singapura, MUFG Bank, Ltd., Cabang Branch, DBS Bank Ltd., ING Bank N.V., Singapore Branch, MUFG Bank, Ltd.,
Singapura, Standard Chartered Bank (Singapore) Limited dan United Overseas Singapore Branch, Standard Chartered Bank (Singapore) Limited and United
Bank Limited. Overseas Bank Limited.
(4) Pinjaman sindikasi Medco E&P Grissik Ltd. dan Far East Energy Trading Pte. (4) Syndicated loan of Medco E&P Grissik Ltd. and Far East Energy Trading Pte.
Ltd. dengan Australia and New Zealand Banking Group Limited, Cabang Ltd. with Australia and New Zealand Banking Group Limited, Singapore Branch,
Singapura, ING Bank N.V., Cabang Singapura, MUFG Bank, Ltd. dan Standard ING Bank N.V., Singapore Branch, MUFG Bank, Ltd. and Standard Chartered
Chartered Bank (Singapore) Limited sebagai Para Pemberi Pinjaman Awal. Bank (Singapore) as Original Lenders.
(5) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk tidak lagi (5) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk ceased to be a
diklasifikasikan sebagai pihak berelasi bagi Grup. related party of the Grup.
155
Page 324
2025 Management Business Company Corporate
322 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Tabel berikut menyajikan tentang tingkat bunga The following table provides the range of
atas pinjaman bank: interest rate on bank loans:
2025 2024
Tingkat bunga per tahun Interest rate per annum
Rupiah 3,00% - 8,50% 4,55% - 8,50% Rupiah
Dolar Amerika Serikat 4,60% - 8,59% 3,92% - 8,60% United States Dollar
Berdasarkan perjanjian atas pinjaman-pinjaman Based on the agreements for the loans above,
di atas, Grup harus mematuhi batasan-batasan the Group must comply with certain restrictions,
tertentu, antara lain untuk memperoleh including obtaining written approval from the
persetujuan tertulis dari pemberi pinjaman lender before carrying out certain transactions
sebelum melakukan transaksi-transaksi tertentu such as entering into a business merger,
seperti mengadakan penggabungan usaha, takeover, liquidation or change of status and
pengambilalihan, likuidasi atau perubahan status Articles of Association, reducing the authorized
serta Anggaran Dasar, mengurangi modal dasar, capital, placed and fully paid; restrictions on
ditempatkan dan disetor penuh; pembatasan lending to third parties; negative guarantee, with
dalam pemberian pinjaman kepada pihak ketiga; some special exceptions; restrictions on
penjaminan negatif, dengan beberapa changing main activities and declaring and
pengecualian khusus; pembatasan dalam paying dividends exceeding a certain percentage
mengubah aktivitas utama dan mengumumkan of consolidated net profit; and must comply with
dan membayar dividen melebihi persentase certain financial ratios.
tertentu dari laba neto konsolidasian; dan harus
mematuhi rasio-rasio keuangan tertentu.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
manajemen berpendapat bahwa Grup mematuhi management is of the opinion that the Group has
semua pembatasan-pembatasan tersebut dan complied with all of these restrictions and the
Grup telah memenuhi semua rasio keuangan Group has complied with all financial ratios
yang dipersyaratkan dalam perjanjian pinjaman required under the loan agreements or has
atau telah memperoleh pelepasan dari obtained a release from the financial ratio
persyaratan rasio keuangan sebelum tanggal 31 requirements prior to December 31, 2025 and
Desember 2025 dan 2024, kecuali untuk entitas 2024, except for certain subsidiaries that obtain
anak tertentu yang memperoleh pelepasan atas releases on the specified financial ratio
persyaratan rasio keuangan yang ditentukan. requirements.
Perusahaan The Company
Mandiri - Fasilitas Kredit Term Loan I Mandiri - Term Loan I Credit Facility
Pada tanggal 28 Mei 2021, Perusahaan On May 28, 2021, the Company entered into a
menandatangani perjanjian kredit dengan PT credit agreement with PT Bank Mandiri
Bank Mandiri (Persero) Tbk. sebesar (Persero) Tbk. of Rp1,500,000,000,000 with a
Rp1.500.000.000.000 dengan jangka waktu 3 term of 3 years.
tahun.
Selama tahun 2024, Perusahaan telah During 2024, the Company has paid scheduled
melakukan pembayaran cicilan terjadwal installment to PT Bank Mandiri (Persero) Tbk on
kepada PT Bank Mandiri (Persero) Tbk atas the credit term loan facility I with total of
fasilitas kredit term loan I sebesar Rp1,125,000,000,000. On June 21, 2024, the
Rp1.125.000.000.000. Pada tanggal 21 Juni Company has fully repaid the facility.
2024, Perusahaan telah melunasi seluruh
fasilitas tersebut.
156
Page 325
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 323
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Perusahaan The Company
Mandiri - Fasilitas Kredit Term Loan II Mandiri - Term Loan II Credit Facility
Pada tanggal 14 September 2023, Perusahaan On September 14, 2023, the Company signed a
menandatangani perjanjian fasilitas kredit credit facility agreement with PT Bank Mandiri
dengan PT Bank Mandiri (Persero) Tbk untuk (Persero) Tbk for term loan II facility of
fasilitas pinjaman berjangka II sebesar Rp5,250,000,000,000 with 57-month tenor. On
Rp5.250.000.000.000 dengan tenor 57 bulan. November 2023, the Company has fully
Pada Bulan November 2023, Perusahaan withdrawn this facility. The Company has also
melakukan penarikan atas seluruh fasilitas entered into a “Cross Currency Swap”
tersebut. Perusahaan juga telah melakukan transaction to convert its Rupiah obligations into
transaksi “Pertukaran Mata Uang US Dollar whereby the Company will pay a fixed
Silang” (“Cross Currency Swap”) untuk interest rate in US Dollar and receive a fixed
mengubah kewajiban Rupiah menjadi Dolar AS interest rate in Rupiah.
dimana Perusahaan akan membayarkan suku
bunga tetap dalam Dolar AS dan menerima
suku bunga tetap dalam Rupiah.
Selama tahun 2024, Perusahaan telah During 2024, the Company has paid scheduled
melakukan pembayaran cicilan terjadwal installment to PT Bank Mandiri (Persero) Tbk on
kepada PT Bank Mandiri (Persero) Tbk atas the credit term loan facility II with total of
fasilitas kredit term loan II dengan total sebesar Rp150,000,000,000.
Rp150.000.000.000.
Selama tahun 2025, Perusahaan telah During 2025, the Company has paid scheduled
melakukan pembayaran cicilan terjadwal installment to PT Bank Mandiri (Persero) Tbk on
kepada PT Bank Mandiri (Persero) Tbk atas the credit term loan facility II with total of
fasilitas kredit term loan II dengan total sebesar Rp600,000,000,000.
Rp600.000.000.000.
Mandiri - Fasilitas Kredit Term Loan III Mandiri - Term Loan III Credit Facility
Pada tanggal 3 April 2024, Perusahaan On April 3, 2024, the Company signed a credit
menandatangani perjanjian kredit fasilitas term facility agreement with PT Bank Mandiri
loan III dengan PT Bank Mandiri (Persero) Tbk (Persero) Tbk for term loan III facility of
sebesar Rp3.500.000.000.000 dengan jangka Rp3,500,000,000,000 with 60-month tenor. As
waktu 60 bulan. Pada bulan Juni 2024, of June 2024, the Company has made full
Perusahaan telah melakukan penarikan atas withdrawals on the facility. The Company has
seluruh fasilitas kredit tersebut. Perusahaan also entered into a “Cross Currency Swap”
juga telah melakukan transaksi “Pertukaran transaction to convert its Rupiah obligations into
Mata Uang Silang” (“Cross Currency Swap”) US Dollar whereby the Company will pay a fixed
untuk mengubah kewajiban Rupiah menjadi interest rate in US Dollar and receive a fixed
Dolar AS dimana Perusahaan akan interest rate in Rupiah.
membayarkan suku bunga tetap dalam Dolar
AS dan menerima suku bunga tetap dalam
Rupiah.
Selama tahun 2025, Perusahaan telah During 2025, the Company has paid scheduled
melakukan pembayaran cicilan terjadwal installment to PT Bank Mandiri (Persero) Tbk on
kepada PT Bank Mandiri (Persero) Tbk atas the credit term loan III facility with total of
fasilitas kredit term loan III dengan total sebesar Rp300,000,000,000.
Rp300.000.000.000.
157
Page 326
2025 Management Business Company Corporate
324 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Perusahaan (lanjutan) The Company (continued)
Mandiri - Fasilitas Kredit Term Loan IV Mandiri - Term Loan IV Credit Facility
Pada tanggal 19 Juni 2025, Perusahaan On June 19, 2025, the Company signed a credit
menandatangani perjanjian kredit fasilitas term facility agreement with PT Bank Mandiri
loan IV dengan PT Bank Mandiri (Persero) Tbk (Persero) Tbk for term loan IV facility of
sebesar Rp3.000.000.000.000 dengan jangka Rp3,000,000,000,000 with 60-month tenor.
waktu 60 bulan.
Pada tanggal 24 Juni 2025, Perusahaan On June 24, 2025, the Company has withdrawn
melakukan penarikan sebesar Rp1,900,000,000,000 on this facility. The
Rp1.900.000.000.000 atas fasilitas tersebut. Company has entered into a “Cross Currency
Perusahaan telah melakukan transaksi Swap” (“CCS”) to convert its Rupiah obligation
“Pertukaran Mata Uang Silang” (“Cross to US Dollar in which the Company will pay
Currency Swap”) untuk mengubah kewajiban fixed interest rate in US Dollar and receive fixed
Rupiah menjadi Dolar AS dimana Perusahaan interest rate in Rupiah.
akan membayarkan suku bunga tetap dalam
Dolar AS dan menerima suku bunga tetap
dalam Rupiah.
Mandiri - Fasilitas Kredit Jangka Pendek Mandiri - Revolving Short-term Credit Facility
Pada tanggal 8 Maret 2018, Perusahaan On March 8, 2018, the Company signed a Short
menandatangani perjanjian Fasilitas Kredit Term Credit Facility (“Facility”) agreement with
Jangka Pendek (“Fasilitas”) dengan PT Bank PT Bank Mandiri (Persero) Tbk, which extended
Mandiri (Persero) Tbk dengan tenor satu tahun annually .
dan telah diperpanjang setiap tahunnya.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, there is no
tidak terdapat saldo terutang atas fasilitas ini. outstanding balance from this facility.
DBS - Fasilitas Perbankan DBS - Banking Facility
Pada tanggal 28 September 2010, Perusahaan On September 28, 2010, the Company entered
menandatangani perjanjian Fasilitas Perbankan into a Banking Facility (“Facility”) agreement
(“Fasilitas”) dengan PT Bank DBS Indonesia, with PT Bank DBS Indonesia, which extended
yang diperpanjang setiap tahunnya. annually.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, there is no
tidak terdapat saldo terutang atas fasilitas ini. outstanding balance from this facility.
DBS - Fasilitas Kredit Term Loan DBS - Term Loan Credit Facility
Pada tanggal 18 September 2024, Perusahaan On September 18, 2024, the Company signed a
menandatangani perjanjian fasilitas kredit term term loan credit facility agreement with PT Bank
loan dengan PT Bank DBS Indonesia sebesar DBS Indonesia of Rp2,330,000,000,000 with a
Rp2.330.000.000.000 dengan jangka waktu 5 term of 5 years.
tahun.
Pada tanggal 23 Oktober 2024 dan 22 Mei On October 23, 2024 and May 22, 2025, the
2025, Perusahaan melakukan penarikan Company has withdrawn Rp1,170,000,000,000
sebesar Rp1.170.000.000.000 dan and Rp1,160,000,000,000 from this facility. The
Rp1.160.000.000.000 atas fasilitas tersebut. Company has also entered into a “Cross
Perusahaan juga telah melakukan transaksi Currency Swap” transaction to convert its
“Pertukaran Mata Uang Silang” (“Cross Rupiah obligations into US Dollar whereby the
Currency Swap”) untuk mengubah kewajiban Company will pay a fixed interest rate in US
Rupiah menjadi Dolar AS dimana Perusahaan Dollar and receive a fixed interest rate in
akan membayarkan suku bunga tetap dalam Rupiah.
Dolar AS dan menerima suku bunga tetap
dalam Rupiah.
158
Page 327
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 325
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Perusahaan (lanjutan) The Company (continued)
DBS - Fasilitas Kredit Term Loan (lanjutan) DBS - Term Loan Credit Facility (continued)
Selama tahun 2025, Perusahaan telah During 2025, the Company has paid scheduled
melakukan pembayaran cicilan terjadwal installment to PT Bank DBS Indonesia on the
kepada PT Bank DBS Indonesia atas fasilitas credit term loan facility of Rp233,000,000,000
kredit term loan sebesar Rp233.000.000.000.
HSBC - Fasilitas Perbankan HSBC - Banking Facility
Pada tanggal 6 Agustus 2018, Perusahaan On August 6, 2018, the Company entered into a
menandatangani perjanjian perbankan corporate banking agreement with PT Bank
korporasi dengan PT Bank HSBC Indonesia HSBC Indonesia with one year tenor which shall
dengan tenor satu tahun yang akan secara be automatically extended each year.
otomatis diperpanjang pada setiap tahunnya.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, there is no
tidak terdapat saldo terutang atas fasilitas ini. outstanding balance from this facility.
Standard Chartered Bank - Fasilitas Perbankan Standard Chartered Bank - Banking Facility
Pada tanggal 12 Juni 2000, Perusahaan On June 12, 2000, the Company signed Facility
menandatangani Surat Fasilitas dengan Letter with Standard Chartered Bank which shall
Standard Chartered Bank dimana akan terus be automatically extended each year.
diperpanjang secara otomatis pada setiap
tahunnya.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, there is no
tidak terdapat saldo terutang atas fasilitas ini. outstanding balance from this facility.
QNB - Fasilitas Kredit QNB - Credit Facility
Pada tanggal 4 Januari 2023, Perusahaan On January 4, 2023, the Company signed
menandatangani Perjanjian Fasilitas Kredit Credit Facility Agreement with PT Bank QNB
dengan PT Bank QNB Indonesia, dimana akan Indonesia, which shall be automatically
terus diperpanjang secara otomatis pada setiap extended each year.
tahunnya.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
saldo terutang adalah nil untuk fasilitas ini. outstanding balance are none from this facility.
Maybank - Fasilitas Kredit Maybank - Credit Facility
Pada tanggal 31 Agustus 2023, Perusahaan On August 31, 2023, the Company signed
menandatangani Perjanjian Fasilitas Kredit Credit Facility Agreement with PT Bank
dengan PT Bank Maybank Indonesia Tbk, yang Maybank Indonesia Tbk, which extended
diperpanjang setiap tahunnya. annually.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
saldo terutang adalah nil untuk fasilitas ini. outstanding balance are none from this facility.
BRI - Fasilitas Kredit Term Loan BRI - Term Loan Credit Facility
Pada tanggal 26 Mei 2025, Perusahaan On May 26, 2025, the Company signed a credit
menandatangani perjanjian kredit fasilitas term facility agreement with PT Bank Rakyat
loan dengan PT Bank Rakyat Indonesia Indonesia (Persero) Tbk for term loan facility
(Persero) Tbk sebesar Rp8.000.000.000.000 amounting to Rp8,000,000,000,000 with 120-
dengan jangka waktu 120 bulan. month tenor.
159
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2025 Management Business Company Corporate
326 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Perusahaan (lanjutan) The Company (continued)
BRI - Fasilitas Kredit Term Loan (lanjutan) BRI - Term Loan Credit Facility (continued)
Pada tanggal 2 Juni 2025, Perusahaan On June 2, 2025, the Company has withdrawn
melakukan penarikan atas fasilitas sebesar Rp2,500,000,000,000 from the facility. The
Rp2.500.000.000.000. Perusahaan juga telah Company has entered into a “Cross Currency
melakukan transaksi “Pertukaran Mata Uang Swap” (“CCS”) for the Rupiah obligations to US
Silang” (“CCS”) untuk mengubah liabilitas Dollar in which the Company will pay fixed US
Rupiah menjadi Dolar AS di mana Perusahaan Dollar interest rate and receive fixed Rupiah
akan membayar suku bunga tetap dalam Dolar interest rate.
AS dan menerima suku bunga tetap dalam
Rupiah.
CIMB Niaga - Fasilitas Kredit CIMB Niaga - Credit Facility
Pada tanggal 28 Mei 2025, Perusahaan On May 28, 2025, the Company signed Credit
menandatangani Perjanjian Fasilitas Kredit Facility Agreement with PT Bank CIMB Niaga
dengan PT Bank CIMB Niaga Tbk, yang Tbk, which extended annually.
diperpanjang setiap tahunnya.
Pada tanggal 31 Desember 2025, saldo As of December 31, 2025, outstanding balance
terutang adalah nil untuk fasilitas ini. is none from this facility.
Entitas anak Subsidiaries
PT Medco E & P Malaka (“MEPM”) dan PT PT Medco E & P Malaka (“MEPM”) and PT
Medco E & P Tomori Sulawesi (“MEPTS”) Medco E & P Tomori Sulawesi (“MEPTS”)
Pada tanggal 19 Oktober 2018, MEPM dan On October 19, 2018, MEPM and MEPTS
MEPTS menandatangani Senior Secured entered into a Senior Secured Facility
Facility Agreement dengan Australia and New Agreement with Australia and New Zealand
Zealand Banking Group Limited, ING Bank N.V., Banking Group Limited, ING Bank N.V.,
Cabang Singapura, dan Societe Generale Singapore Branch, and Societe Generale
(bersama-sama disebut “Pemberi Pinjaman (together the “MEPM and MEPTS Syndicated
Sindikasi MEPM dan MEPTS”) (yang kemudian Lenders”) (later amended on December 27,
diubah pada tanggal 27 Desember 2018 2018 to become a Syndicated Agreement with
menjadi Perjanjian Sindikasi dengan perubahan major changes to the syndicated parties) with a
utama pada pihak-pihak sindikasi) dengan nilai maximum of up to US$500,000,000 which will
maksimal sampai dengan AS$500.000.000 mature on September 30, 2024. On December
yang akan jatuh tempo pada tanggal 30 23, 2022, MEPM and MEPTS signed an
September 2024. Pada tanggal 23 Desember Amendment and Restatement Agreement with
2022, MEPM dan MEPTS menandatangani MEPM and MEPTS Syndication Loan Lender
Perjanjian Perubahan dan Pernyataan Kembali for a loan up to US$420,000,000 which will
dengan Pemberi Pinjaman Sindikasi MEPM dan mature on December 30, 2028.
MEPTS dengan nilai maksimal sampai dengan
AS$420.000.000 yang akan jatuh tempo pada
tanggal 30 Desember 2028.
Pada tanggal 30 Juni 2025, MEPM dan MEPTS On June 30, 2025, MEPM and MEPTS has
telah melakukan pembayaran atas fasilitas made repayment total of US$144,000,000.
sebesar AS$144.000.000.
160
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 327
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
Medco E&P Grissik Ltd. ("MEPG") Medco E&P Grissik Ltd. ("MEPG")
Pada tanggal 23 Oktober 2023, MEPG, entitas On October 23, 2023, MEPG, an indirect wholly
anak yang secara tidak langsung dimiliki owned subsidiary of the Company, signed an
seluruhnya oleh Perusahaan, telah Amendment and Restatement Agreement
menandatangani Perjanjian Perubahan dan relating to MEG Facility Agreement originally
Pernyataan Kembali sehubungan dengan dated December 11, 2021, with Mandated Lead
Perjanjian Fasilitas MEG awalnya tertanggal 11 Arrangers of US$350,000,000 which will mature
Desember 2021, dengan Mandated Lead on December 30, 2026.
Arrangers senilai AS$350.000.000 yang akan
jatuh tempo pada 30 Desember 2026.
Pada tanggal 23 Oktober 2024, MEPG On October 23, 2024, MEPG has withdrawn
melakukan penarikan atas fasilitas sebesar US$155,000,000 from the facility.
AS$155.000.000.
Pada tanggal 23 Juni 2025, MEPG melakukan On June 23, 2025, MEPG has made voluntary
pembayaran dipercepat atas fasilitas sebesar prepayment total of US$155,000,000.
AS$155.000.000.
Medco E&P Grissik Ltd. (“MEPG”) dan Far East Medco E&P Grissik Ltd. (“MEPG”) and Far East
Energy Trading Pte. Ltd. ("FEET") Energy Trading Pte. Ltd. ("FEET")
Pada tanggal 26 Juni 2025, MEPG dan FEET, On June 26, 2025, MEPG and FEET, an indirect
entitas anak yang secara tidak langsung dimiliki wholly owned subsidiary of the Company,
seluruhnya oleh Perusahaan, telah signed a Facility Agreement with Australia and
menandatangani Perjanjian Fasilitas dengan New Zealand Banking Group Limited,
Australia and New Zealand Banking Group Singapore Branch, ING Bank N.V., Singapore
Limited, Cabang Singapura, ING Bank N.V., Branch, MUFG Bank, Ltd. and Standard
Cabang Singapura, MUFG Bank, Ltd. dan Chartered Bank (Singapore) Limited (later
Standard Chartered Bank (Singapore) Limited amended on September 25, 2025 to become a
(yang kemudian diubah pada tanggal 25 Syndicated Agreement with major changes to
September 2025 menjadi Perjanjian Sindikasi the syndicated parties) of US$500,000,000
dengan perubahan utama pada pihak-pihak which will mature on December 31, 2028.
sindikasi) senilai AS$500.000.000 yang akan
jatuh tempo pada 31 Desember 2028.
Pada tanggal 25 Juli 2025, MEPG dan FEET On July 25, 2025, MEPG and FEET made a
telah melakukan penarikan atas Perjanjian withdraw of Facility Agreement of
Fasilitas sebesar AS$280.000.000. US$280,000,000.
Pada bulan Desember 2025, MEPG dan FEET In December 2025, MEPG and FEET has paid
telah melakukan pembayaran cicilan terjadwal scheduled installment for Facility Agreement of
atas Perjanjian Fasilitas sebesar AS$4.250.000. US$4,250,000.
PT Mitra Energi Pelayaran ("MEP") PT Mitra Energi Pelayaran ("MEP")
Pada tanggal 1 Juli 2025, PT Mitra Energi On July 1, 2025, PT Mitra Energi Pelayaran
Pelayaran ("MEP"), entitas anak yang secara ("MEP"), an indirect wholly owned subsidiary of
tidak langsung dimiliki seluruhnya oleh the Company, signed a Term Loan Facility
Perusahaan, telah menandatangani Perjanjian Agreement with PT Bank Negara Indonesia
Fasilitas Pinjaman Berjangka dengan PT Bank (Persero) Tbk (“BNI”) of Rp1,826,000,000,000
Negara Indonesia (Persero) Tbk (“BNI”) senilai with 120-month tenor. In September 2025, MEP
Rp1.826.000.000.000 dengan jangka waktu 120 has made full withdrawals on the facility.
bulan. Pada bulan September 2025, MEP telah
melakukan penarikan atas seluruh fasilitas
tersebut.
161
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2025 Management Business Company Corporate
328 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Mitra Energi Pelayaran ("MEP") (lanjutan) PT Mitra Energi Pelayaran ("MEP") (continued)
Pada bulan Desember 2025, MEP telah In December 2025, MEP has paid scheduled
melakukan pembayaran cicilan terjadwal installment for Term Loan facility to BNI of
kepada BNI atas fasilitas Pinjaman Berjangka Rp22,825,000,000.
sebesar Rp22.825.000.000.
PT Satria Raksa Buminusa ("SRB") PT Satria Raksa Buminusa ("SRB")
Pada tanggal 10 Desember 2025, PT Satria On December 10, 2025, PT Satria Raksa
Raksa Buminusa ("SRB"), entitas anak yang Buminusa ("SRB"), an indirect wholly owned
secara tidak langsung dimiliki seluruhnya oleh subsidiary of the Company, signed a Term Loan
Perusahaan, telah menandatangani Perjanjian Facility Agreement with PT Bank Mandiri
Fasilitas Term Loan dengan PT Bank Mandiri (Persero) Tbk of Rp1,282,500,000,000 with
(Persero) Tbk sebesar Rp1.282.500.000.000 longest tenor of 7 years. In December 2025,
dengan jangka waktu terpanjang selama 7 SRB has made full withdrawals on the facility. In
tahun. Pada bulan Desember 2025, SRB telah 2025, the Company recognize deferred gain for
melakukan penarikan atas seluruh fasilitas difference between the transaction price and fair
kredit tersebut. Pada tahun 2025 Perusahaan value of the bank loan to PT Bank Mandiri
mengakui keuntungan yang ditangguhkan atas Persero Tbk of US$14,7 million which recorded
selisih harga transaksi dan nilai wajar pinjaman as part of bank loan carrying amount.
bank ke PT Bank Mandiri Persero Tbk sebesar
US$14.7 juta yang dicatat sebagai bagian nilai
tercatat pinjaman bank.
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak Subsidiaries
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
Pada tanggal 20 Maret 2019, PT Medco Ratch On March 20, 2019, PT Medco Ratch Power
Power Riau (“MRPR”) menandatangani Riau (“MRPR”) entered into a financing
perjanjian pendanaan dengan konsorsium agreement with a consortium of lenders to
pemberi pinjaman untuk menyediakan provide funding in an aggregate amount of
pendanaan dengan jumlah agregat sekitar approximately US$222 million related to the
AS$222 juta terkait dengan pengembangan development of a 275-megawatt (MW) gas-fired
fasilitas pembangkit listrik tenaga gas 275- power plant facility with a maturity date of due in
megawatt (MW) dengan waktu jatuh tempo March 2039. The consortium of lenders consists
pada Maret 2039. Konsorsium pemberi of Asian Development Bank (“ADB”),
pinjaman terdiri dari Asian Development Bank International Finance Corporation (“IFC”),
(“ADB”), International Finance Corporation MUFG Bank Ltd (“MUFG”) and Sumitomo Mitsui
(“IFC”), MUFG Bank Ltd (“MUFG”) dan Banking Corporation (“SMBC”). This facility is
Sumitomo Mitsui Banking Corporation secured by fixed assets used in the concession
(“SMBC”). Fasilitas ini dijamin dengan aset service project assets, rights to receivables from
tetap yang digunakan dalam aset proyek jasa the project and pledge of shares in the project.
konsesi, hak atas piutang atas proyek dan gadai
saham dalam proyek.
Pada tanggal 28 Juni 2023, MRPR On June 28, 2023, MRPR signed an
menandatangani perjanjian Amendemen dan Amendment and Restatement agreement to the
Pernyataan Kembali atas Perjanjian Senior Senior Secured Debt Agreement with the
Secured Debt dengan Konsorsium pemberi Consortium of lenders related to the change of
pinjaman terkait pergantian Suku Bunga Acuan the Reference Interest Rate to Daily Non-
menjadi Daily Non-Cumulative Compounded Cumulative Compounded SOFR.
SOFR.
162
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 329
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
(lanjutan) (continued)
Selama tahun 2025 dan 2024, MRPR During 2025 and 2024, MRPR made scheduled
melakukan pembayaran cicilan terjadwal ke installments to the Riau Lenders Consortium
Konsorsium Pemberi Pinjaman Riau, masing- amounting US$10,236,350 and US$9,596,579,
masing sebesar AS$10.236.350 dan respectively.
AS$9.596.579.
PT Medco Power Indonesia (“MPI”) PT Medco Power Indonesia (“MPI”)
PT Bank Woori Saudara Indonesia 1906 Tbk - PT Bank Woori Saudara Indonesia 1906 Tbk -
Fasilitas Kredit Pendanaan Umum General Funding Credit Facility
Pada tanggal 27 Mei 2019, MPI On May 27, 2019, MPI signed a credit facility
menandatangani perjanjian kredit dengan PT agreement with PT Bank Woori Saudara
Bank Woori Saudara Indonesia 1906 Tbk Indonesia 1906 Tbk (“BWS”) amounting to
(“BWS”) sebesar AS$20.000.000 dengan jangka US$20,000,000 with 2 years tenor. The loan
waktu 2 tahun. Fasilitas ini tidak dijamin dengan facility is unsecured. The facilities have been
agunan khusus. Jatuh tempo fasilitas ini telah extended several times to August 25, 2023. On
diperpanjang beberapa kali hingga 25 Agustus August 25, 2023, MPI has extend the credit
2023. Pada 25 Agustus 2023, MPI melakukan facility with BWS for US$11,500,000 with 9
perpanjangan fasilitas kredit di BWS sebesar months tenor.
AS$11.500.000 dengan jangka waktu 9 bulan.
Pada tanggal 25 Januari 2024, MPI melakukan On January 25, 2024, MPI has made voluntary
pelunasan dipercepat sebesar AS$11.000.000 repayment amounting to US$11,000,000 to
kepada BWS. BWS.
Pada tanggal 30 Mei 2024, MPI melakukan On May 30, 2024, MPI signed a credit facility
penandatanganan perjanjian kredit dengan agreement with BWS US$8,000,000 with 2
BWS sebesar AS$8.000.000 dengan jangka years tenor. The loan facility is unsecured.
waktu 2 tahun. Fasilitas ini tidak dijamin dengan
agunan khusus.
Selama tahun 2024, MPI melakukan penarikan During 2024, MPI has withdrawn BWS facility
atas fasilitas BWS sebesar AS$3.250.000. US$3,250,000.
Pada tanggal 13 Januari 2025, MPI melakukan On January 13, 2025, MPI has fully repaid
pelunasan sebesar AS$3.250.000 dari BWS. US$3,250,000 from BWS.
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah Musyarakah Facility
Pada tanggal 25 September 2020, MPI On September 25, 2020, MPI signed credit
menandatangani perjanjian fasilitas kredit facility agreement with PT Bank BNI Syariah
dengan PT Bank BNI Syariah (“BNI Syariah”) (“BNI Syariah”) with a total facility of
dengan total fasilitas sebesar Rp400,000,000,000. The loan facility is
Rp400.000.000.000. Fasilitas ini tidak dijamin unsecured.
dengan agunan khusus.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp155,500,000,000 to BSI.
Rp155.500.000.000 kepada BSI.
163
Page 332
2025 Management Business Company Corporate
330 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah dan Kafalah bil Ujrah Musyarakah and Kafalah bil Ujrah Facility
Pada tanggal 28 Mei 2021, MPI On May 28, 2021, MPI signed Akad
menandatangani Akad Musyarakah sebesar Musyarakah US$30,000,000 and Kafalah bil
AS$30.000.000 dan Kafalah bil Ujrah sebesar Ujrah US$10,000,000 with BSI, with 3 years
AS$10.000.000 dengan BSI, dengan jangka tenor. On May 31, 2021, MPI utilized the facility
waktu 3 tahun. Pada tanggal 31 Mei 2021, MPI US$13,000,000. The loan facility is unsecured.
melakukan penarikan atas fasilitas tersebut
sebesar AS$13.000.000. Fasilitas ini tidak
dijamin dengan agunan khusus.
Pada tanggal 7 Februari 2024, MPI melakukan On February 7, 2024, MPI has made voluntary
pelunasan dipercepat sebesar AS$7.200.000 repayment US$7,200,000 to BSI.
BSI.
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah Musyarakah Facility
Pada tanggal 27 April 2022, MPI On April 27, 2022, MPI has entered into a Line
menandatangani perjanjian Line Facility Facility Musyarakah Credit Facility with BSI
Pembiayaan Musyarakah dengan BSI sebesar Rp750,000,000,000 with 4 years tenor from the
Rp750.000.000.000 dengan jangka waktu 4 signing date. On May 17, 2022, MPI has
tahun dari tanggal penandatanganan. Pada withdrawn Rp750,000,000,000.
tanggal 17 Mei 2022, MPI melakukan penarikan
atas fasilitas ini sebesar Rp750.000.000.000.
Pada tanggal 15 Agustus 2022, BSI melakukan On August 15, 2022, BSI transferred a loan of
pengalihan pinjaman senilai Rp336.875.000.000 Rp336,875,000,000 to PT Sarana Multi
kepada PT Sarana Multi Infrastruktur (Persero) Infrastruktur (Persero) (“SMI”) and the loan
(“SMI”) dan pinjaman tersebut menjadi pinjaman become syndicated loan.
sindikasi.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled
pembayaran cicilan terjadwal dan percepatan installment and early full repayment to BSI
pelunasan pembayaran atas hutang BSI amounting to Rp295,000,000,000.
sebesar Rp295.000.000.000.
PT Bank Negara Indonesia (Persero) Tbk - PT Bank Negara Indonesia (Persero) Tbk -
Fasilitas Term Loan Term Loan Facility
Pada tanggal 28 Juni 2021, MPI On June 28, 2021, MPI signed Term Loan
menandatangani Perjanjian Fasilitas Term Loan Credit Facility agreement Rp399,000,000,000
sebesar Rp399.000.000.000 dengan PT Bank with PT Bank Negara Indonesia (Persero) Tbk.
Negara Indonesia (Persero) Tbk. (“BNI”). (“BNI”). This facility is unsecured.
Fasilitas ini tidak dijamin dengan agunan
khusus.
164
Page 333
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 331
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Negara Indonesia (Persero) Tbk - PT Bank Negara Indonesia (Persero) Tbk -
Fasilitas Term Loan (lanjutan) Term Loan Facility (continued)
Pada 29 Maret 2022, MPI mengajukan On March 29, 2022, MPI proposed an extension
perpanjangan availability period atas fasilitas of the availability period for the Term Loan
Term Loan di BNI. Pada 19 April 2022, BNI facility at BNI. On April 19, 2022, BNI gave
memberikan persetujuan atas permohonan approval for the application. On April 22, 2022,
tersebut. Pada 22 April 2022, MPI melakukan MPI has withdrawn the facility
penarikan fasilitas tersebut sebesar Rp200,000,000,000.
Rp200.000.000.000.
Pada tanggal 4 Maret 2024, MPI melakukan On March 4, 2024, MPI has made voluntary
pelunasan dipercepat sebesar repayment Rp399,000,000,000 to BNI.
Rp399.000.000.000 kepada BNI.
PT Bank Tabungan Negara (Persero) Tbk – PT Bank Tabungan Negara (Persero) Tbk –
Fasilitas Corporate Line Corporate Line Facility
Pada tanggal 22 November 2022, MPI telah On November 22, 2022, MPI has signed
menandatangani perjanjian Corporate Line Corporate Line Facility agreement with PT Bank
Facility dengan PT Bank Tabungan Negara Tabungan Negara (Persero) Tbk (“BTN”) which
(Persero) Tbk (“BTN”) yang terdiri dari Non- consist of Non-Cash Loan Rp350,000,000,000
Cash Loan sebesar Rp350.000.000.000 dengan with one year tenor since signing date and Cash
jangka waktu satu tahun sejak tanggal Loan Rp150,000,000,000 with 5 year tenor
penandatanganan dan Cash Loan sebesar since signing date.
Rp150.000.000.000 dengan jangka waktu 5
tahun sejak tanggal penandatanganan.
Pada tanggal 8 Februari 2023, MPI melakukan On February 8, 2023, MPI has withdrawn it's
penarikan pinjaman dari BTN sebesar facility Rp150,000,000,000 from BTN.
Rp150.000.000.000.
Pada tanggal 21 Desember 2023, MPI On December 21, 2023, MPI signed additional
menandatangani tambahan fasilitas Non-Cash Non-Cash Loan facility Rp500,000,000,000 and
Loan menjadi Rp500.000.000.000 dan maturity date extention to November 22, 2025.
perpanjangan jangka waktu fasilitas hingga 22
November 2025.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp6,000,000,000 to BTN.
Rp6.000.000.000 kepada BTN.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp18,000,000,000 to BTN.
Rp18.000.000.000 kepada BTN.
165
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2025 Management Business Company Corporate
332 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
Pada tanggal 26 April 2023, MPI telah On April 26, 2023, MPI has signed Term Loan
menandatangani perjanjian Term Loan dengan Facility agreement with PT Bank Mandiri Tbk
PT Bank Mandiri Tbk ("BMRI") sebesar ("BMRI") amounting to Rp750,000,000,000 with
Rp750.000.000.000 dengan jangka waktu 36 36 months tenor since signing date or until
bulan dari tanggal penandatanganan fasilitas December 31, 2025, whichever occurs earlier.
atau tanggal 31 Desember 2025, mana yang This facility is unsecured.
lebih dahulu terjadi. Fasilitas ini tidak dijamin
dengan agunan khusus.
Pada tanggal 27 Maret 2025, MPI telah On March 27, 2025, MPI has signed Term Loan
menandatangani perjanjian Fasilitas Term Loan Facility agreement with BMRI
dengan BMRI sebesar Rp1.000.000.000.000 Rp1,000,000,000,000 with 48 months tenor
dengan jangka waktu 48 bulan dari tanggal since signing date or until March 31, 2029,
penandatanganan fasilitas atau tanggal 31 whichever occurs earlier.
Maret 2029, mana yang lebih dahulu terjadi.
Pada tanggal 21 Agustus 2025, MPI melakukan On August 21, 2025, MPI has withdrawn
penarikan pinjaman sebesar Rp679,732,556,455 from BMRI.
Rp679.732.556.455 dari BMRI.
PT Bank Maybank Indonesia Tbk PT Bank Maybank Indonesia Tbk
Pada tanggal 16 Mei 2024, MPI melakukan On May 16, 2024, MPI signed a credit facility
penandatanganan perjanjian kredit dengan PT agreement with PT Bank Maybank Indonesia
Bank Maybank Indonesia Tbk ("Maybank") Tbk ("Maybank") Rp780,000,000,000 with
sebesar Rp780.000.000.000 dengan rincian: details:
– Tranche A dan B dengan total plafon – Tranche A and B with total maximum
maksimal Rp700.000.000.000 dengan credit Rp700,000,000,000 with 60
jangka waktu 60 bulan sejak tanggal months tenor since signing date.
penandatanganan.
– Pinjaman Promes Berulang sampai – Revolving Promissory Loan with
maksimal Rp80.000.000.000 dengan maximum credit Rp80,000,000,000
jangka waktu sampai 13 Mei 2025. with tenor until May 13, 2025.
Fasilitas ini tidak dijamin dengan agunan This facility is unsecured loan.
khusus.
Pada 21 Mei dan 24 Juni 2024, MPI melakukan On May 21 and June 24, 2024, MPI has
penarikan pinjaman masing-masing sebesar withdrawn Rp167,769,000,000 and
Rp167.769.000.000 dan Rp80.000.000.000 dari Rp80,000,000,000, respectively, from Maybank.
Maybank.
Pada tanggal 24 Juli 2024, MPI melakukan On July 24, 2024, MPI has settled revolving
pelunasan pinjaman promes berulang sebesar loan Rp80,000,000,000 to Maybank.
Rp80.000.000.000 dari Maybank.
Pada tanggal 18 dan 24 September 2024, PT On September 18 and 24, 2024, PT Medco
Medco Power Indonesia melakukan penarikan Power Indonesia has withdrawn revolving
pinjaman promes berulang dengan total promissory loan Rp80,000,000,000 to Maybank.
Rp80.000.000.000 dari Maybank.
166
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 333
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Maybank Indonesia Tbk (lanjutan) PT Bank Maybank Indonesia Tbk (continued)
Pada tanggal 1 dan 11 Oktober 2024, MPI On October 1 and 11, 2024, MPI has withdrawn
melakukan penarikan pinjaman sebesar Rp496,875,000,000 and Rp35,356,000,000
Rp496.875.000.000 dan Rp35.356.000.000 dari from Maybank.
Maybank.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp4,194,225,000 to Maybank.
Rp4.194.225.000 kepada Maybank.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled
cicilan terjadwal dan pembayaran promes installment and revolving promissory loan
berulang sebesar Rp57.500.000.000 kepada Rp57,500,000,000 to Maybank.
Maybank.
Pada tanggal 21 Agustus 2025, MPI telah On August 21, 2025, MPI has made fully early
melakukan pelunasan dipercepat atas seluruh repayment of Maybank outstanding loan
hutang Maybank sebesar Rp671.652.887.500. Rp671,652,887,500.
PT Bank KEB Hana Indonesia ("Bank Hana") PT Bank KEB Hana Indonesia ("Bank Hana")
Pada 19 Juni 2024, MPI melakukan On June 19, 2024, MPI signed a credit facility
penandatangan perjanjian kredit dengan PT agreement with PT Bank KEB Hana Indonesia
Bank KEB Hana Indonesia sebesar Rp150,000,000,000. This facility is unsecured.
Rp150.000.000.000. Fasilitas ini tidak dijamin
dengan agunan khusus.
Pada 26 Juni 2024, MPI melakukan penarikan On June 26, 2024, MPI has withdrawn
pinjaman sebesar Rp150.000.000.000 dari Rp150,000,000,000 from Bank Hana.
Bank Hana.
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp16,500,000,000 to Bank Hana.
Rp16.500.000.000 kepada Bank Hana.
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Pembiayaan Berdasarkan Prinsip Syariah Facility
Syariah
Pada 18 Desember 2024, MPI melakukan On December 18, 2024, MPI signed syariah
penandatangan perjanjian berdasarkan prinsip facility agreement with PT Bank Syariah
syariah dengan PT Bank Syariah Indonesia Indonesia Tbk (Persero) ("BSI")
(Persero) Tbk ("BSI") sebesar Rp750,000,000,000. This facility is unsecured.
Rp750.000.000.000. Fasilitas ini tidak dijamin
dengan agunan khusus.
Pada 23 Desember 2024, MPI melakukan On December 23, 2024, MPI has withdrawn
penarikan pinjaman sebesar Rp180,081,000,000 from BSI.
Rp180.081.000.000 dari BSI.
Pada 7 Januari 2025, MPI melakukan penarikan On Janury 7, 2025, MPI has withdrawn
pinjaman sebesar Rp86.000.000.000 dari BSI. Rp86,000,000,000 from BSI.
167
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2025 Management Business Company Corporate
334 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
Entitas anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Power Indonesia (“MPI”) (lanjutan) PT Medco Power Indonesia (“MPI”) (continued)
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Pembiayaan Berdasarkan Prinsip Syariah Facility (continued)
Syariah (lanjutan)
Selama tahun 2025, MPI telah melakukan During 2025, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp13,304,050,000 to BSI.
Rp13.304.050.000 kepada BSI.
PT Energi Listrik Batam (“ELB”) PT Energi Listrik Batam (“ELB”)
PT Bank Syariah Indonesia (Persero) Tbk - PT Bank Syariah Indonesia (Persero) Tbk -
Fasilitas Musyarakah Mutanaqishah, Musyarakah Mutanaqishah, Musyarakah, and
Musyarakah, dan Kafalah bil Ujrah Kafalah bil Ujrah Facility
Pada Desember 2016, PT Energi Listrik Batam In December 2016, PT Energi Listrik Batam
(“ELB”) menandatangani Perjanjian Fasilitas (“ELB”) signed a Musyarakah Mutanaqishah,
Musyarakah Mutanaqishah, Musyarakah, dan Musyarakah, and Kafalah bil Ujrah Facility with
Kafalah bil Ujrah dengan PT Bank Syariah PT Bank Syariah Mandiri US$51,000,000 with a
Mandiri sebesar AS$51.000.000 dengan tenor ten year tenor. This facility is secured by fixed
sepuluh tahun. Fasilitas ini dijamin dengan aset assets used in leasing, rights over receivables,
tetap yang digunakan dalam sewa guna usaha, ELB shares owned by PT Universal Batam
hak atas piutang, saham ELB yang dimiliki oleh Energy and PT Universal Gas Energy and
PT Universal Batam Energy dan PT Universal guarantee letter from MPI.
Gas Energy dan surat jaminan dari MPI.
Berdasarkan perjanjian pinjaman, ELB Based on the loan agreement, ELB is required
diharuskan untuk memelihara beberapa to maintain several restricted bank accounts at
rekening bank yang dibatasi penggunaannya di BSI with a minimum balance as specified in the
BSI dengan saldo minimum sebagaimana loan agreement.
ditentukan dalam perjanjian pinjaman.
Selama tahun 2024, ELB melakukan penarikan During 2024, ELB has withdrawn US$4,000,000
pinjaman sebesar AS$4.000.000 dari BSI. from BSI.
Selama tahun 2024, ELB melakukan During 2024, ELB has paid scheduled and
pembayaran cicilan terjadwal dan tidak unscheduled installment US$5,670,593 to BSI.
terjadwal sebesar AS$5.670.593 kepada BSI.
Selama tahun 2025, ELB melakukan During 2025, ELB has paid scheduled and
pembayaran cicilan terjadwal dan tidak unscheduled installment US$5,989,011 to BSI.
terjadwal sebesar AS$5.989.011 kepada BSI.
Selama tahun 2025, ELB melakukan penarikan During 2025, ELB has withdrawn
pinjaman sebesar AS$55.917.785 dari BSI. US$55,917,785 from BSI.
168
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 335
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
a. Pinjaman bank (lanjutan) a. Bank loans (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Cahaya Geothermal ("MCG") PT Medco Cahaya Geothermal ("MCG")
Sepanjang tahun 2024, MCG melakukan During 2024, MCG issued SKBDN UPAS and
penerbitan SKBDN UPAS dan LC UPAS kepada LC UPAS to various vendors
berbagai macam vendor sejumlah Rp470,076,245,801 and US$10,702,340 for
Rp470.076.245.801 dan AS$10.702.340 untuk Ijen Geothermal project. This issuance utilized
keperluan proyek PLTP Ijen. Penerbitan ini MPI's WCC facility from BNI, MPI's Non-Cash
menggunakan fasilitas KMK MPI di BNI, Kredit Loan Facility from BMRI, and MPI's Non-Cash
Non-Tunai MPI dari BMRI, dan Kredit Non-Tunai Loan Facility from BTN.
Perusahaan dari BTN.
Selama tahun 2025, MCG melakukan During 2025, MCG issued SKBDN UPAS and
penerbitan SKBDN UPAS dan LC UPAS kepada LC UPAS to various vendors Rp3,325,613,246
berbagai macam vendor sejumlah for Ijen Geothermal project. This issuance
Rp3.325.613.246 untuk keperluan proyek PLTP utilized MPI's WCC facility from BNI, MPI's Non-
Ijen. Penerbitan ini menggunakan fasilitas KMK Cash Loan Facility from BMRI, and MPI's Non-
MPI di BNI, Kredit Non-Tunai MPI dari BMRI, Cash Loan Facility from BTN.
dan Kredit Non-Tunai Perusahaan dari BTN.
PT Medcosolar Bali Timur ("MSBT") PT Medcosolar Bali Timur ("MSBT")
Pada 20 Maret 2024, PT Medcosolar Bali Timur On March 20, 2024, PT Medcosolar Bali Timur
menandatangani Perjanjian Pembiayaan Proyek signed a Project Financing Agreement
sebesar AS$13.263.000 dan Rp50.218.000.000 US$13,263,000 and Rp50,218,000,000 with BNI
dengan BNI dengan jangka waktu 15 tahun. with a term of 15 years. This financing aims to
Pembiayaan ini bertujuan untuk pembangunan build the East Bali PLTS with a capacity of 25
PLTS Bali Timur kapasitas 25 MWp di MWp in Karangasem Regency, Bali. This facility
Kabupaten Karangasem, Bali. Fasilitas ini is guaranteed by project assets, rights to
dijamin dengan aset proyek, hak atas piutang, receivables, and a pledge of shares in the
dan gadai saham dalam proyek. project.
Selama tahun 2024, MSBT melakukan During 2024, MSBT has withdrawn
penarikan pinjaman sebesar AS$3.922.168 dan US$3,922,168 and Rp10,886,914,801 from BNI.
Rp10.886.914.801 dari BNI.
Selama tahun 2025, MSBT melakukan During 2025, MSBT has withdrawn
penarikan pinjaman sebesar AS$5.090.144 dan US$5,090,144 and Rp23,019,016,625 from BNI.
Rp23.019.016.625 dari BNI.
169
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2025 Management Business Company Corporate
336 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
28. PINJAMAN BANK (lanjutan) 28. BANK LOANS (continued)
b. Fasilitas yang belum terpakai b. Unused Bank Facilities
Pada tanggal 31 Desember 2025, Grup memiliki As of December 31, 2025, the Group has the
fasilitas kredit bank dan fasilitas umum bank following Unused Bank Credit Facilities and
yang belum terpakai sebagai berikut: General Banking Facility:
Fasilitas yang Tidak
Jumlah Fasilitas Dipakai Pada Tanggal
Maksimum/ 31 Desember 2025/
Kreditur/Lenders Fasilitas/Facility
Maximum Facility Unused Portion of the
Amount Facility as of
December 31, 2025
Fasilitas Umum Bank/General Banking Facility
Standard Chartered Fasilitas Perbankan/ AS$125.000.000/ AS$122.865.704/
Bank, Jakarta Banking Facility US$125,000,000 US$122,865,704
PT Bank Mandiri (Persero) Tbk Fasilitas Non-Cash Loan, revolving loan & AS$427.082.588/ AS$227.429.086/
Perbankan/ US$427,082,588 US$227,429,086
Non-Cash Loan Facility, Revolving loan &
Banking Facility
PT Bank Rakyat Indonesia Fasilitas Kredit/ AS$476.701.228/ AS$327.732.094/
Credit Facility US$476,701,228 US$327,732,094
PT Bank DBS Indonesia Fasilitas Perbankan/ AS$50.000.000/ AS$50.000.000/
Banking Facility US$50,000,000 US$50,000,000
The Hongkong and Shanghai Banking Fasilitas Perbankan Korporasi (Letter of AS$60.000.000/ AS$53.922.127/
Corporation Ltd Credit, Guarantee and Revolving Loan)/ US$60,000,000 US$53,922,127
Corporate Facility Agreement (Letter of Credit,
Guarantee and Revolving Loan)
PT Bank QNB Indonesia (Persero) Tbk Fasilitas Perbankan/ AS$18.000.000/ AS$18.000.000/
Banking Facility US$18,000,000 US$18,000,000
PT Bank Maybank Indonesia Tbk Fasilitas Kredit/ AS$46.917.531/ AS$23.638.148/
Credit Facility US$46,917,531 US$23,638,148
PT Bank CIMB Niaga Tbk Fasilitas Kredit/ AS$55.958.765/ AS$55.958.765/
Credit Facility US$55,958,765 US$55,958,765
PT Bank Negara Indonesia Tbk Fasilitas Perbankan/ AS$85.250.000/ AS$80.523.845/
Banking Facility US$85,250,000 US$80,523,845
PT Bank Tabungan Negara (Persero) Fasilitas Non-Cash Loan/ AS$50.649.505/ AS$43.365.643/
Tbk Non-Cash Loan Facility US$50,649,505 US$43,365,643
PT Bank Woori Saudara Indonesia 1906 Fasilitas Kredit/ AS$8.000.000/ AS$8.000.000/
Tbk 1) Credit Facility US$8,000,000 US$8,000,000
Pemberi Pinjaman PT Sarana Multi Fasilitas Pembiayaan Proyek/ AS$144.900.000/ AS$39,909,820/
Infrastruktur - MCG/ Project Financing Facility US$144,900,000 US$39,909,820
PT Sarana Multi Infrastruktur Loan
Lender - MCG
Pemberi Pinjaman Sindikasi MEPG dan Perjanjian Sindikasi/ AS$417.803.000/ AS$142.053.000/
FEET/ Syndication Agreement US$417,803,000 US$142,053,000
MEPG and FEET Syndication Loan
Lender
Pemberi Pinjaman Sindikasi MEPM dan Perjanjian Sindikasi/ AS$98.287.671/ AS$98.287.671/
MEPTS/ Syndication Agreement US$98,287,671 US$98,287,671
MEPM and MEPTS Syndication Loan
Lender
PT Bank Syariah Indonesia Tbk - ELB Fasilitas Pembiayaan Proyek & Non-Cash AS$10.000.000/ AS$1.682.128/
Financing/ US$10,000,000 US$1,682,128
Project Financing Facility & Non-Cash
Financing
PT Bank Negara Indonesia (Persero) Fasilitas Pembiayaan Proyek/ AS$16.255.373/ AS$5.222.686/
Tbk - MSBT Project Financing Facility US$ 16,255,373 US$5,222,686
1) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk tidak lagi 1) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk ceased to be a related
diklasifikasikan sebagai pihak berelasi bagi Grup. party of the Grup.
170
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 337
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA 29. OTHER LONG-TERM DEBTS
2025 2024
Obligasi Rupiah Rupiah Bonds
Obligasi Berkelanjutan Rupiah Shelf Registered
Rupiah III: Bonds III:
Tahap III – 29.470.363 Phase III
Obligasi Berkelanjutan Rupiah Shelf Registered
Rupiah IV: Bonds IV:
Tahap I 35.752.592 37.124.118 Phase I
Tahap II 3.467.703 3.600.730 Phase II
Tahap III 66.004.350 185.620.592 Phase III
Obligasi Berkelanjutan Rupiah Shelf Registered
Rupiah V: Bonds V:
Tahap I 59.587.654 61.873.531 Phase I
Tahap II 89.381.480 92.810.296 Phase II
Tahap III 148.969.134 – Phase III
Obligasi Berkelanjutan Rupiah Shelf Registered
Rupiah VI: Bonds VI:
Tahap I 59.587.654 – Phase I
Obligasi Rupiah I – 15.963.371 Rupiah Shelf Registered I
Sukuk Wakalah Rupiah I – 2.660.562 Rupiah Sukuk Wakalah I
Sukuk Wakalah Rupiah II 613.753 637.297 Rupiah Sukuk Wakalah II
Sukuk Wakalah Rupiah Berkelanjutan I: Rupiah Shelf Registered Sukuk Wakalah I:
Tahap I 13.109.284 30.936.766 Phase I
Tahap II 7.764.867 37.124.119 Phase II
Tahap III 44.690.740 46.405.148 Phase III
Tahap IV 68.525.801 – Phase IV
Obligasi Rupiah Berkelanjutan MPI I: Rupiah Shelf Registered Bonds MPI I:
Tahap I 29.793.826 – Phase I
Jumlah 627.248.838 544.226.893 Total
Dikurangi diskonto yang belum diamortisasi (3.298.661) (1.970.703) Less unamortized discount
Neto 623.950.177 542.256.190 Net
Dikurangi bagian jangka pendek (48.316.555) (211.478.310) Less current portion
Bagian jangka panjang 575.633.622 330.777.880 Long-term portion
Obligasi Dolar AS* US Dollar Bonds*
Tanggal terbit pada 14 Mei 2019 91.724.000 242.319.000 Issue date on May 14, 2019
Tanggal terbit pada 30 Januari 2020 107.774.000 433.913.000 Issue date on January 30, 2020
Tanggal terbit pada 12 November 2021 261.006.000 299.417.000 Issue date on November 12, 2021
Tanggal terbit pada 27 Oktober 2023 482.000.000 500.000.000 Issue date on October 27, 2023
Tanggal terbit pada 19 Mei 2025 400.000.000 – Issue date on May 19, 2025
Jumlah 1.342.504.000 1.475.649.000 Total
Dikurangi diskonto yang belum diamortisasi (34.861.254) (33.451.439) Less unamortized discount
Neto 1.307.642.746 1.442.197.561 Net
Dikurangi bagian jangka pendek (91.563.279) – Less current portion
Bagian jangka panjang 1.216.079.467 1.442.197.561 Long-term portion
Pinjaman dari instansi Loans from non-bank
keuangan non-bank financial institutions
PT Sarana Multi Infrastruktur 104.990.180 69.990.180 PT Sarana Multi Infrastruktur
PT Mandiri Tunas Finance - 14.871 PT Mandiri Tunas Finance
Jumlah 104.990.180 70.005.051 Total
Dikurangi bagian jangka pendek (4.019.024) (14.871) Less current portion
Bagian jangka panjang 100.971.156 69.990.180 Long-term portion
*) Jumlah pokok yang beredar termasuk Obligasi yang telah dibeli *) The principal amount outstanding include Bonds that have been
kembali. repurchased.
171
Page 340
2025 Management Business Company Corporate
338 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts
lainnya adalah sebagai berikut: are as follows:
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Perusahaan/The Company
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Maret 2020/ 10,80% Terutang Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp380.000.000.000 Indonesia Indonesia March 2020 setiap kuartal/ dengan agunan khusus/
II Tahap IV dengan dilanjutkan dengan (PEFINDO) : AA- Stock Exchange Telah dilunasi pada 10.80% Payable These bonds are
tanggal terbit 30 transaksi swap (2023) Maret 2020/ quarterly unsecured.
Maret 2017/ menjadi Has been fully
Rupiah Shelf AS$28.539.241/ repaid in
Registered Bonds II Tranche A March 2020
Phase IV with issue Rp380,000,000,000
date on March 30, and
2017 swapped into
US$28,539,241
Seri B Maret 2022/ 11,30% Terutang
Rp1.000.000.000/ March 2022 setiap kuartal/
Tranche B Telah dilunasi pada 11.30% Payable
Rp1,000,000,000 Maret 2022/ quarterly
Has been fully repaid
in
March 2022
Seri C Maret 2024/ 11,80% Terutang
Rp7.000.000.000/ March 2024 setiap kuartal/
Tranche C Telah dilunasi pada 11.80% Payable
Rp7,000,000,000 Maret 2024/ quarterly
Has been fully repaid
in
March 2024
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Februari 2023/ 8,90% Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp1.023.700.000.000 Indonesia Indonesia February 2023 Terutang setiap dengan agunan khusus/
III Tahap III dengan dilanjutkan dengan (PEFINDO) : AA- Stock kuartal/ These bonds are
tanggal terbit 20 transaksi swap (2024) Exchange Telah dilunasi pada 8.90% unsecured.
Februari 2020/ menjadi Februari 2023/ Payable
Rupiah Shelf AS$74.695.367/ Has been fully quarterly
Registered Bonds III Tranche A repaid in February
Phase III with issue Rp1,023,700,000,000 2023
date on February 20, and swapped into
2020 US$74,695,367
Seri B Februari 2025/ 9,30% Terutang
Rp476.300.000.000 February 2025 setiap kuartal/
dilanjutkan dengan Telah dilunasi pada 9.30% Payable
transaksi swap Februari 2025/ quarterly
menjadi Has been fully
AS$34.753.740/ repaid in February
Tranche B 2025
Rp476,300,000,000
and swapped into
US$34,753,740
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ September 2024/ 7,75% Terutang Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp400.000.000.000 Indonesia Indonesia September 2024 setiap kuartal/ dengan agunan khusus/
IV Tahap I dengan dilanjutkan dengan (PEFINDO): AA- Stock Telah dilunasi pada 7.75% Payable These bonds are
tanggal terbit 9 transaksi swap (2025) Exchange September 2024/ quarterly unsecured.
September 2021/ menjadi Has been fully
Rupiah Shelf AS$28.070.175/ repaid in September
Registered Bonds IV Tranche A 2024
Phase I with issue Rp400,000,000,000
date on September 9, and swapped into
2021 US$28,070,175
Seri B September 2026/ 8,50% Terutang
Rp600.000.000.000 September 2026 setiap kuartal/
dilanjutkan dengan 8.50% Payable
transaksi swap quarterly
menjadi
AS$42.072.057/
Tranche B
Rp600,000,000,000
and swapped into
US$42,072,057
172
Page 341
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 339
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Perusahaan/The Company (lanjutan/continued)
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ November 2024/ 7,75% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp941.805.000.000 Indonesia Indonesia November 2024 kuartal/ dengan agunan khusus/
IV Tahap II dengan dilanjutkan dengan (PEFINDO): AA- Stock Telah dilunasi pada 7.75% Payable These bonds are
tanggal terbit 23 transaksi swap (2025) Exchange November 2024/ quarterly unsecured.
November 2021/ menjadi Has been fully
Rupiah Shelf AS$66.161.231/ repaid in November
Registered Bonds IV Tranche A 2024
Phase II with issue Rp941,805,000,000
date on November and swapped into
23, 2021 US$66,161,231
Seri B November 2026/ 8,50% Terutang setiap
Rp58.195.000.000 November 2026 kuartal/
dilanjutkan dengan 8.50% Payable
transaksi swap quarterly
menjadi
AS$4.089.599/
Tranche B
Rp58,195,000,000
and swapped into
US$4,089,599
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Juli 2025/ 7,00% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp1.892.315.000.000 Indonesia Indonesia July 2025 kuartal/ dengan agunan khusus/
IV Tahap III dengan dilanjutkan dengan (PEFINDO): AA- Stock Telah dilunasi pada 7.00% Payable These bonds are
tanggal terbit 26 Juli transaksi swap (2025) Exchange Juli 2025/ quarterly unsecured.
2022/ menjadi Has been fully
Rupiah Shelf AS$126.407.148/ repaid in July 2025
Registered Bonds IV Tranche A
Phase III with issue Rp1,892,315,000,000
date on July 26, 2022 and swapped into
US$126,407,148
Seri B Juli 2027/ 8,10% Terutang setiap
Rp521.415.000.000 July 2027 kuartal/
dilanjutkan dengan 8.10% Payable
transaksi swap quarterly
menjadi
AS$34.737.841/
Tranche B
Rp521,415,000,000
and swapped into
US$34,737,841
Seri C Juli 2029/ 9,00% Terutang setiap
Rp586.270.000.000 July 2029 kuartal/
dilanjutkan dengan 9.00% Payable
transaksi swap quarterly
menjadi
AS$39.058.628/
Tranche C
Rp586,270,000,000
and swapped into
US$39,058,628
173
Page 342
2025 Management Business Company Corporate
340 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Perusahaan/The Company (lanjutan/continued)
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Juli 2026/ 6,95% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp150.000.000.000 Indonesia Indonesia July 2026 kuartal/ dengan agunan khusus/
V Tahap I dengan dilanjutkan dengan (PEFINDO): AA- Stock 6.95% Payable These bonds are
tanggal terbit 7 Juli transaksi swap (2025) Exchange quarterly unsecured.
2023/ menjadi
Rupiah Shelf AS$10.000.000/
Registered Bonds V Tranche A
Phase I with issue Rp150,000,000,000
date on July 7, 2023 and swapped into
US$10,000,000
Seri B Juli 2028/ 7,30% Terutang setiap
Rp260.000.000.000 July 2028 kuartal/
dilanjutkan dengan 7.30% Payable
transaksi swap quarterly
menjadi
AS$17.333.333/
Tranche B
Rp260,000,000,000
and swapped into
US$17,333,333
Seri C Juli 2030/ 8,15% Terutang setiap
Rp590.000.000.000 July 2030 kuartal/
dilanjutkan dengan 8.15% Payable
transaksi swap quarterly
menjadi
AS$39.333.333/
Tranche C
Rp590,000,000,000
and swapped into
US$39,333,333
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Februari 2027/ 7,35% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp208.855.000.000 Indonesia Indonesia February 2027 kuartal/ dengan agunan khusus/
V Tahap II dengan dilanjutkan dengan (PEFINDO): AA- Stock 7.35% Payable These bonds are
tanggal terbit 13 transaksi swap (2025) Exchange quarterly unsecured.
Februari 2024/ menjadi
Rupiah Shelf AS$13.388.141/
Registered Bonds V Tranche A
Phase II with issue Rp208,855,000,000
date on February 13, and swapped into
2024 US$13,388,141
Seri B Februari 2029/ 7,90% Terutang setiap
Rp427.955.000.000 February 2029 kuartal/
dilanjutkan dengan 7.90% Payable
transaksi swap quarterly
menjadi
AS$27.454.131/
Tranche B
Rp427,955,000,000
and swapped into
US$27,454,131
Seri C Februari 2031/ 8,50% Terutang setiap
Rp863.190.000.000 February 2031 kuartal/
dilanjutkan dengan 8.50% Payable
transaksi swap quarterly
menjadi
AS$55.704.148/
Tranche C
Rp863,190,000,000
and swapped into
US$55,704,148
174
Page 343
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 341
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Perusahaan/The Company (lanjutan/continued)
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Januari 2030/ 7,75% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp1.675.000.000.000 Indonesia Indonesia January 2030 kuartal/ dengan agunan khusus/
V Tahap III dengan dilanjutkan dengan (PEFINDO): AA- Stock 7.75% Payable These bonds are
tanggal terbit 7 transaksi swap (2025) Exchange quarterly unsecured.
Januari 2025/ menjadi
Rupiah Shelf AS$102.829.211/
Registered Bonds V Tranche A
Phase III with issue Rp1,675,000,000,000
date on January 7, and swapped into
2025 US$102,829,211
Seri B Januari 2032/ 8,25% Terutang setiap
Rp825.000.000.000 January 2032 kuartal/
dilanjutkan dengan 8.25% Payable
transaksi swap quarterly
menjadi
AS$50.646.528/
Tranche B
Rp825,000,000,000
swapped into
US$50,646,528
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Juni 2032/ 7,75% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp500.000.000.000 Indonesia Indonesia June 2032 kuartal/ dengan agunan khusus/
VI Tahap I dengan dilanjutkan dengan (PEFINDO): AA- Stock 7.75% Payable These bonds are
tanggal terbit 25 Juni transaksi swap (2025) Exchange quarterly unsecured.
2025/ menjadi
Rupiah Shelf AS$30.599.755/
Registered Bonds VI Tranche A
Phase I with issue Rp500,000,000,000
date on June 25, and swapped into
2025 US$30,599,755
Seri B Juni 2035/ 8,25% Terutang setiap
Rp500.000.000.000 June 2035 kuartal/
dilanjutkan dengan 8.25% Payable
transaksi swap quarterly
menjadi
AS$30.590.395/
Tranche B
Rp500,000,000,000
swapped into
US$30,590,395
175
Page 344
2025 Management Business Company Corporate
342 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Medco Power Indonesia
Obligasi Rupiah I Seri A PT Pemeringkat Efek Bursa Efek Juli 2021/ 9,75% Terutang setiap Obligasi ini tidak dijamin
dengan tanggal terbit Rp279.000.000.000/ Indonesia Indonesia/ July 2021 kuartal/ dengan agunan khusus/
4 Juli 2018/ Tranche A (PEFINDO): A (2025) Indonesia 9.75% Payable These bonds are
Rupiah Shelf Rp279,000,000,000 Stock Exchange Telah dilunasi pada quarterly unsecured.
Registered Bonds I Juli 2021/
with issue date on Seri B Juli 2023/ 10,25% Terutang
July 4, 2018 Rp63.000.000.000/ July 2023 setiap kuartal/
Tranche B 10.25% Payable
Rp63,000,000,000 Telah dilunasi pada quarterly
Juli 2023/
Seri C Juli 2025/ 10,75% Terutang
Rp258.000.000.000/ July 2025 setiap kuartal/
Tranche C 10.75% Payable
Rp258,000,000,000 Telah dilunasi pada quarterly
Juli 2025/
Sukuk Wakalah Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Juli 2021/ 9,75% Terutang setiap Obligasi ini tidak dijamin
Rupiah I dengan Rp153.000.000.000/ Indonesia Indonesia July 2021 kuartal/ dengan agunan khusus/
tanggal terbit 4 Juli Tranche A (PEFINDO): A (sy) Stock Exchange 9.75% Payable These bonds are
2018/ Rp153,000,000,000 (2025) Telah dilunasi pada quarterly unsecured.
Rupiah Sukuk Juli 2021/
Wakalah I with issue Has been fully repaid
date on July 4, 2018 in July 2021
Seri B Juli 2023/ 10,25% Terutang
Rp404.000.000.000/ July 2023 setiap kuartal/
Tranche B 10.25% Payable
Rp404,000,000,000 Telah dilunasi pada quarterly
Juli 2023/
Has Been fully repaid
in July 2023
Seri C Juli 2025/ 10,75% Terutang
Rp43.000.000.000/ July 2025 setiap kuartal/
Tranche C 10.75% Payable
Rp43,000,000,000 Telah dilunasi pada quarterly
Juli 2025/
Sukuk Wakalah Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Mei 2022/ 10,00% Terutang Obligasi ini tidak dijamin
Rupiah II dengan Rp832.700.000.000/ Indonesia Indonesia May 2022 setiap kuartal/ dengan agunan khusus/
tanggal terbit 23 Mei Tranche A (PEFINDO): A (sy) Stock Exchange 10.00% Payable These bonds are
2019/ Rp832,700,000,000 (2025) Telah dilunasi pada quarterly unsecured.
Rupiah Sukuk Mei 2022/
Wakalah II with issue Has been fully repaid
date on May 23, 2019 in May 2022
Seri B Mei 2024/ 10,55% Terutang
Rp7.000.000.000/ May 2024 setiap kuartal/
Tranche B 10.55% Payable
Rp7,000,000,000 Telah dilunasi pada quarterly
Mei 2024/
Has been fully repaid
in May 2024
Seri C Mei 2026/ 11,10% Terutang
Rp10.300.000.000/ May 2026 setiap kuartal/
Tranche C 11.10% Payable
Rp10,300,000,000 quarterly
176
Page 345
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 343
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Medco Power Indonesia (lanjutan/continued)
Sukuk Wakalah Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Agustus 2025/ 8,00% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp280.000.000.000/ Indonesia Indonesia August 2025 kuartal/ dengan agunan khusus/
I Tahap I dengan Tranche A (PEFINDO): A (sy) Stock Exchange 8.00% Payable These bonds are
tanggal terbit 4 Rp280,000,000,000 (2025) Telah dilunasi pada quarterly unsecured.
Agustus 2022/ Agustus 2025/
Rupiah Shelf Has been fully repaid
Registered Sukuk in August 2025
Wakalah I Phase I
with issue date on
August 4, 2022 Seri B Agustus 2027/ 9,25% Terutang setiap
Rp220.000.000.000/ August 2027 kuartal/
Tranche B 9.25% Payable
Rp220,000,000,000 quarterly
Sukuk Wakalah Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Desember 2025/ 9,00% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp469.690.000.000/ Indonesia Indonesia December 2025 kuartal/ dengan agunan khusus/
I Tahap II dengan Tranche A (PEFINDO): A (sy) Stock Exchange 9.00% Payable These bonds are
tanggal terbit 30 Rp469,690,000,000 (2025) Telah dilunasi pada quarterly unsecured.
Desember 2022/ Desember 2025/
Rupiah Shelf Has been fully repaid
Registered Sukuk in Desember 2025
Wakalah I Phase II
with issue date on
December 30, 2022 Seri B Desember 2027/ 9,50% Terutang setiap
Rp130.310.000.000/ December 2027 kuartal/
Tranche B 9.50% Payable
Rp130,310,000,000 quarterly
Sukuk Wakalah Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Januari 2027/ 8,55% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp175.995.000.000 Indonesia Indonesia January 2027 kuartal/ dengan agunan khusus/
I Tahap III dengan Tranche A (PEFINDO): A (sy) Stock Exchange 8.55% Payable These bonds are
tanggal terbit 18 Rp175,995,000,000 (2025) quarterly unsecured.
Januari 2024/
Rupiah Shelf
Registered Sukuk Seri B Januari 2029/ 9,50% Terutang setiap
Wakalah I Phase III Rp494.490.000.000 January 2029 kuartal/
with issue date on Tranche B 9.50% Payable
January 18, 2024 Rp494,490,000,000 quarterly
Seri C Januari 2031/ 10,00% Terutang
Rp79.515.000.000 January 2031 setiap kuartal/
Tranche C 10.00% Payable
Rp79,515,000,000 quarterly
Sukuk Wakalah Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Februari 2028/ 7,75% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp125.035.000.000 Indonesia Indonesia February 2028 kuartal/ dengan agunan khusus/
I Tahap IV dengan Tranche A (PEFINDO): A (sy) Stock Exchange 7.75% Payable These bonds are
tanggal terbit 7 Rp125,035,000,000 (2025) quarterly unsecured.
Februari 2025/
Rupiah Shelf
Registered Sukuk Seri B Februari 2030/ 9,00% Terutang setiap
Wakalah I Phase IV Rp816.955.000.000 February 2030 kuartal/
with issue date on Tranche B 9.00% Payable
February 7, 2025 Rp816,955,000,000 quarterly
Seri C Februari 2032/ 9,50% Terutang setiap
Rp208.010.000.000 February 2032 kuartal/
Tranche C 9.50% Payable
Rp208,010,000,000 quarterly
Obligasi Seri A PT Pemeringkat Efek Bursa Efek Indonesia/ Juli 2030/ 8,75% Terutang setiap Obligasi ini tidak dijamin
Berkelanjutan Rupiah Rp300.000.000.000/ Indonesia Indonesia July 2030 kuartal/ dengan agunan khusus/
I Tahap I dengan Tranche A (PEFINDO): A (sy) Stock Exchange 8.75% Payable These bonds are
tanggal terbit 1 Juli Rp300,000,000,000 (2025) quarterly unsecured.
2025/
Rupiah Shelf
Registered Bonds I Seri B Juli 2032/ 9,25% Terutang setiap
Phase I with issue Rp200.000.000.000/ July 2032 kuartal/
date on July 1, 2025 Tranche B 9.25% Payable
Rp200,000,000,000 quarterly
177
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2025 Management Business Company Corporate
344 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kupon
Utang Jangka
Pokok/ Peringkat/ Terdaftar/ Jatuh Tempo/ per tahun/ Jaminan/
Panjang/
Principal Rating Listed Maturity Coupon Security
Long-Term Debt
per annum
Medco Platinum Road Pte Ltd
Obligasi Dolar AS AS$500.000.000/ Moody’s Investor Singapore Exchange Januari 2025/ 6,75% Obligasi ini dijamin
dengan tanggal terbit US$500,000,000 Service: B1 (2024) Securities Trading January 2025 Terutang setiap tanpa syarat oleh
30 Januari 2018/ Fitch Ratings: BB- Limited setengah tahun/ Perusahaan dan entitas
US Dollar Bonds with (2024) Telah dilunasi pada 6.75% anak tertentu/
issue date on January Standard & Poor’s Mei 2024/ Payable semi- These bonds are
30, 2018 Rating Services: BB- Has been fully repaid annually unconditionally
(2024) on May 2024 guaranteed by the
Company and certain
subsidiaries.
Medco Oak Tree Pte Ltd
Obligasi Dolar AS AS$650.000.000/ Moody’s Investor Singapore Exchange Mei 2026/ 7,375% Obligasi ini dijamin
dengan tanggal terbit US$650,000,000 Service: Ba3 (2025) Securities Trading May 2026 Terutang tanpa syarat oleh
14 Mei 2019/ Fitch Ratings: BB- Limited Setiap Perusahaan dan entitas
US Dollar Bonds with (2025) Setengah anak tertentu/
issue date on May 14, Standard & Poor’s tahun/ These bonds are
2019 Rating Services: BB- 7.375% unconditionally
(2025) Payable guaranteed by the
semi-annually Company and certain
subsidiaries.
Medco Bell Pte Ltd
Obligasi Dolar AS AS$650.000.000/ Moody’s Investor Singapore Exchange Januari 2027/ 6,375% Obligasi ini dijamin
dengan tanggal terbit US$650,000,000 Service: Ba3 (2025) Securities Trading January 2027 Terutang tanpa syarat oleh
30 Januari 2020/ Fitch Ratings: BB- Limited setiap Perusahaan dan entitas
US Dollar Bonds with (2025) setengah anak tertentu/
issue date on January Standard & Poor’s tahun/ These bonds are
30, 2020 Rating Services: BB- 6.375% unconditionally
(2025) Payable guaranteed by the
semi-annually Company and certain
subsidiaries.
Medco Laurel Tree Pte Ltd
Obligasi Dolar AS AS$400.000.000/ Moody’s Investor Singapore Exchange November 2028/ 6,95% Obligasi ini dijamin
dengan tanggal terbit US$400,000,000 Service: Ba3 (2025) Securities Trading November 2028 Terutang tanpa syarat oleh
12 November 2021/ Fitch Ratings: BB- Limited setiap Perusahaan dan entitas
US Dollar Bonds with (2025) setengah anak tertentu/
issue date on Standard & Poor’s tahun/ These bonds are
November 12, 2021 Rating Services: BB- 6.95% unconditionally
(2025) Payable guaranteed by the
semi-annually Company and certain
subsidiaries.
Medco Maple Tree Pte Ltd
Obligasi Dolar AS AS$500.000.000/ Moody’s Investor Singapore Exchange April 2029/ 8,96% Obligasi ini dijamin
dengan tanggal terbit US$500,000,000 Service: Ba3 (2025) Securities Trading April 2029 Terutang tanpa syarat oleh
27 Oktober 2023/ Fitch Ratings: BB- Limited setiap Perusahaan dan entitas
US Dollar Bonds with (2025) setengah anak tertentu/
issue date on October Standard & Poor’s tahun/ These bonds are
27, 2023 Rating Services: BB- 8.96% unconditionally
(2025) Payable guaranteed by the
semi-annually Company and certain
subsidiaries.
Medco Cypress Tree Pte Ltd
Obligasi Dolar AS AS$400.000.000/ Moody’s Investor Singapore Exchange May 2030/ 8,625% Obligasi ini dijamin
dengan tanggal terbit US$400,000,000 Service: Ba3 (2025) Securities Trading May 2030 Terutang tanpa syarat oleh
19 Mei 2025/ Fitch Ratings: BB- Limited setiap Perusahaan dan entitas
US Dollar Bonds with (2025) setengah anak tertentu/
issue date on May 19, Standard & Poor’s tahun/ These bonds are
2025 Rating Services: BB- 8.625% unconditionally
(2025) Payable guaranteed by the
semi-annually Company and certain
subsidiaries.
178
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 345
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
Kreditur/Lenders Tanggal efektif pinjaman/ Jadwal pelunasan/
Jaminan/Security
Loan effectivity date Repayment Schedule
PT Medco Power Indonesia
PT Mandiri Tunas Finance April 2021/ April 2026/ Fasilitas ini dijamin dengan kendaraan
April 2021 April 2026 yang diperoleh/
Fasilitas Pembiayaan Investasi/ This facility is collateralized by acquired
Investment Financing Facility Telah dilunasi pada Agustus 2025/ vehicles.
Has been fully repaid in August 2025
PT Sarana Multi Infrastruktur (Persero) Agustus 2022/ Maret 2026/ Fasilitas ini tidak dijamin dengan agunan
August 2022 March 2026 khusus/
Fasilitas Musyarakah/ This facility is unsecured.
Musyarakah Facility Telah dilunasi pada Oktober 2024/
Has been fully repaid in October 2024
PT Medco Cahaya Geothermal
PT Sarana Multi Infrastruktur (Persero) Januari 2023/ Desember 2042/ Fasilitas ini dijamin dengan seluruh asset
January 2023 December 2042 proyek, hak atas piutang, dan seluruh
Fasilitas Pembiayaan Proyek/ gadai saham dalam proyek/
Project Financing Facility This facility is collateralized by all of the
project’s assets, rights over receivables on
the project, and a pledge of all shares in
the project.
Berdasarkan syarat-syarat dan kondisi-kondisi dari Under the terms and conditions of the long-term
perjanjian sehubungan dengan kewajiban jangka obligations, the Group is subject to various
panjang tersebut, Grup harus mematuhi covenants, among others, obtaining approval from
pembatasan tertentu, antara lain memperoleh the lenders/designated trustees prior to undertaking
persetujuan dari pemberi pinjaman/wali amanat certain actions such as: mergers or acquisitions,
yang ditunjuk sebelum melakukan tindakan- reducing the authorized, issued and fully paid
tindakan seperti: merger atau akuisisi, mengurangi capital stock of the Company, changing the main
modal dasar, diterbitkan dan disetor penuh dari business activities of the Company; restrictions on
modal saham Perusahaan, mengubah bisnis utama granting loans to third parties, pledging and
Perusahaan; pembatasan atas pemberian transferring the Company’s assets, issuing senior
pinjaman kepada pihak ketiga, menjaminkan dan debt, filing for bankruptcy or delaying loan
mengalihkan aset Perusahaan, menerbitkan payments prior to the payment of bond interest and
obligasi senior, mengajukan permintaan bangkrut principal, and declaring and paying dividends in
atau penundaan pembayaran pinjaman sebelum excess of a certain percentage of consolidated net
pembayaran pokok dan bunga obligasi, dan income and requirement to comply with certain
mengumumkan dan membayar dividen melebihi financial ratios.
persentase tertentu dari laba neto konsolidasian
dan harus memenuhi rasio keuangan tertentu.
a. Pembatasan-pembatasan atas Pinjaman a. Debt covenants
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, in
manajemen berpendapat, bahwa Grup management's opinion, the Group is in
mematuhi pembatasan atas semua liabilitas compliance with the covenants of all long-term
jangka panjang. obligations.
Manajemen menyatakan bahwa selama Management represented that during the
periode pelaporan dan sampai pada tanggal reporting periods and as of the completion date
penyelesaian laporan keuangan of the consolidated financial statements, the
konsolidasian, Grup tidak pernah mengalami Group has never defaulted on paying its
kondisi gagal bayar atas obligasi yang telah maturing bonds.
jatuh tempo.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Group
Grup telah memenuhi semua rasio keuangan has complied with all financial ratios required to
yang dipersyaratkan dalam perjanjian. be maintained under the agreements.
179
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2025 Management Business Company Corporate
346 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
b. Wali Amanat b. Trustees
Grup telah menunjuk Wali Amanat sebagai The Group engaged Trustees to act as the
perantara antara Grup dengan Pemegang intermediaries between the Group and the
Obligasi. Adapun Wali Amanat untuk Obligasi Bondholders. The Trustee for Shelf Registered
Berkelanjutan Rupiah III Tahap I, Obligasi Rupiah Bonds III Phase I, Shelf Registered
Berkelanjutan Rupiah IV Tahap I, II dan III, Rupiah Bonds IV Phase I, II and III, Shelf
Obligasi Berkelanjutan Rupiah V Tahap I, II dan Registered Rupiah Bonds V Phase I, II and III
III dan Obligasi Berkelanjutan Rupiah VI Tahap I and Shelf Registered Rupiah Bonds VI Phase I
adalah PT Bank Mega Tbk. Untuk Obligasi is PT Bank Mega Tbk. For Shelf Registered
Berkelanjutan Rupiah III Tahap II, III, Grup Rupiah Bonds III Phase II, III, The Group has
menunjuk PT Bank Rakyat Indonesia (Persero) appointed PT Bank Rakyat Indonesia (Persero)
Tbk sebagai Wali Amanat. Grup juga telah Tbk as the Trustee. The Group has also
menunjuk The Bank of New York Mellon appointed The Bank of New York Mellon
Corporation sebagai Wali Amanat untuk Corporation to act as Trustee for its US Dollar
Obligasi Dolar AS. Adapun untuk Obligasi Bonds. For Shelf Registered Rupiah Bonds I
Rupiah I dan Sukuk Wakalah Rupiah I, II, III dan and Rupiah Sukuk Wakalah I, II, III and IV of PT
IV PT Medco Power Indonesia, Grup telah Medco Power Indonesia, the Group has
menunjuk PT Bank Mega Tbk sebagai Wali appointed PT Bank Mega Tbk to act as Trustee.
Amanat.
c. Lain-lain c. Others
Obligasi Rupiah Rupiah Shelf Registered Bonds
Perusahaan The Company
Pada tanggal 13 Februari 2024, Perusahaan On February 13 2024, the Company issued a
menerbitkan Obligasi Berkelanjutan Rupiah Shelf Registered Rupiah Bond for
sebesar Rp1.500.000.000.000 ("PUB V Tahap Rp1,500,000,000,000 ("PUB V Phase II")
II") yang terbagi dalam tiga seri yaitu: consisting of three tranches:
• Seri A sebesar Rp208.855.000.000 • Tranche A of Rp208,855,000,000 with
dengan tenor 3 tahun; 3-year tenor;
• Seri B sebesar Rp427.955.000.000 • Tranche B of Rp427,955,000,000 with
dengan tenor 5 tahun; 5-year tenor;
• Seri C sebesar Rp863.190.000.000 • Tranche C of Rp863,190,000,000 with
dengan tenor 7 tahun. 7-year tenor.
Perusahaan juga telah melakukan transaksi The Company has entered into a “Cross
“Pertukaran Mata Uang Silang” (“CCS”) untuk Currency Swap” (“CCS”) for the Rupiah
mengubah liabilitas Rupiah menjadi Dolar AS di liabilities to US Dollar in which the Company will
mana Perusahaan akan membayar suku bunga pay fixed US Dollar interest rate and receive
tetap dalam Dolar AS dan menerima suku fixed Rupiah interest rate.
bunga tetap dalam Rupiah.
Pada tanggal 28 Maret 2024, Perusahaan telah On March 28, 2024, the Company has fully
melunasi Obligasi Berkelanjutan Rupiah II repaid Rupiah Shelf Registered Bonds II Phase
Tahap IV Seri C sebesar Rp7.000.000.000. IV Tranche C of Rp7,000,000,000.
180
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 347
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Obligasi Rupiah (lanjutan) Rupiah Shelf Registered Bonds (continued)
Perusahaan (lanjutan) The Company (continued)
Pada tanggal 9 September 2024, Perusahaan On September 9, 2024, the Company has fully
telah melunasi Obligasi Berkelanjutan Rupiah IV repaid Rupiah Shelf Registered Bonds IV Phase
Tahap I Seri A sebesar Rp400.000.000.000. I Tranche A of Rp400,000,000,000. The final
Penyelesaian akhir untuk transaksi “Pertukaran settlement for the “Cross Currency
Silang Mata Uang” (“CCS”) terkait obligasi ini Swap” (“CCS”) transaction related to this bonds
telah diselesaikan. has been completed.
Pada tanggal 22 November 2024, Perusahaan On November 22, 2024, the Company has fully
telah melunasi Obligasi Berkelanjutan Rupiah IV repaid Rupiah Shelf Registered Bonds IV Phase
Tahap II Seri A sebesar Rp941.805.000.000. II Tranche A of Rp941,805,000,000.The final
Penyelesaian akhir untuk transaksi “Pertukaran settlement for the “Cross Currency
Silang Mata Uang” (“CCS”) terkait obligasi ini Swap” (“CCS”) transaction related to this bonds
telah diselesaikan. has been completed.
Pada tanggal 7 Januari 2025, Perusahaan On January 7, 2025, the Company issued a
menerbitkan Obligasi Berkelanjutan Rupiah Shelf Registered Rupiah Bond for
sebesar Rp2.500.000.000.000 ("PUB V Tahap Rp2,500,000,000,000 ("PUB V Phase III")
III") yang terbagi dalam dua seri yaitu: consisting of two tranches:
• Seri A sebesar Rp1.675.000.000.000 • Tranche A of Rp1,675,000,000,000
dengan tenor 5 tahun; with 5-year tenor;
• Seri B sebesar Rp825.000.000.000 • Tranche B of Rp825,000,000,000 with
dengan tenor 7 tahun. 7-year tenor.
Perusahaan juga telah melakukan transaksi The Company has entered into a “Cross
“Pertukaran Mata Uang Silang” (“CCS”) untuk Currency Swap” (“CCS”) for the Rupiah
mengubah liabilitas Rupiah menjadi Dolar AS di liabilities to US Dollar in which the Company will
mana Perusahaan akan membayar suku bunga pay fixed US Dollar interest rate and receive
tetap dalam Dolar AS dan menerima suku fixed Rupiah interest rate.
bunga tetap dalam Rupiah.
Pada tanggal 19 Februari 2025, Perusahaan On February 19, 2025, the Company has fully
telah melunasi Obligasi Berkelanjutan Rupiah III repaid Rupiah Shelf Registered Bonds III Phase
Tahap III Seri B sebesar Rp476.300.000.000. III Tranche B of Rp476,300,000,000.The final
Penyelesaian akhir untuk transaksi “Pertukaran settlement for the “Cross Currency
Silang Mata Uang” (“CCS”) terkait obligasi ini Swap” (“CCS”) transaction related to this bonds
telah diselesaikan. has been completed.
181
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2025 Management Business Company Corporate
348 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Obligasi Rupiah (lanjutan) Rupiah Shelf Registered Bonds (continued)
Perusahaan (lanjutan) The Company (continued)
Pada tanggal 25 Juni 2025, Perusahaan On June 25, 2025, the Company issued a Shelf
menerbitkan Obligasi Berkelanjutan Rupiah Registered Rupiah Bond for
sebesar Rp1.000.000.000.000 ("PUB VI Tahap Rp1,000,000,000,000 ("PUB VI Phase I")
I") yang terbagi dalam dua seri yaitu: consisting of two tranches:
• Seri A sebesar Rp500.000.000.000 • Tranche A of Rp500,000,000,000 with
dengan tenor 7 tahun; 7-year tenor;
• Seri B sebesar Rp500.000.000.000 • Tranche B of Rp500,000,000,000 with
dengan tenor 10 tahun. 10-year tenor.
Perusahaan juga telah melakukan transaksi The Company has entered into a “Cross
“Pertukaran Mata Uang Silang” (“CCS”) untuk Currency Swap” (“CCS”) for the Rupiah
mengubah liabilitas Rupiah menjadi Dolar AS di liabilities to US Dollar in which the Company will
mana Perusahaan akan membayar suku bunga pay fixed US Dollar interest rate and receive
tetap dalam Dolar AS dan menerima suku fixed Rupiah interest rate.
bunga tetap dalam Rupiah.
Pada tanggal 25 Juli 2025, Perusahaan telah On July 25, 2025, the Company has fully repaid
melunasi Obligasi Berkelanjutan Rupiah IV Rupiah Shelf Registered Bonds IV Phase III
Tahap III Seri A sebesar Rp1.892.315.000.000. Tranche A of Rp1,892,315,000,000. The final
Penyelesaian akhir untuk transaksi “Pertukaran settlement for the “Cross Currency
Silang Mata Uang” (“CCS”) terkait obligasi ini Swap” (“CCS”) transaction related to this bonds
telah diselesaikan. has been completed.
Fasilitas Kredit Credit Facility
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak Subsidiaries
PT Medco Power Indonesia PT Medco Power Indonesia
Pada tanggal 15 Agustus 2022, BSI melakukan On August 15, 2022, BSI transferred a loan of
pengalihan pinjaman senilai Rp336.875.000.000 Rp336,875,000,000 to PT Sarana Multi
kepada PT Sarana Multi Infrastruktur (Persero) Infrastruktur (Persero) and the Musyarakah loan
dan pinjaman Musyarakah tersebut menjadi become syndicated loan.
pinjaman sindikasi.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled
pembayaran cicilan terjadwal kepada PT installment to PT Sarana Multi Infrastruktur
Sarana Multi Insfrastruktur (Persero) sebesar (Persero) Rp39,375,000,000.
Rp39.375.000.000.
Pada tanggal 3 Oktober 2024, MPI telah On October 3, 2024, MPI has made an early full
melakukan percepatan pelunasan pembayaran repayment to SMI amounting to
atas hutang SMI sebesar Rp218.750.000.000. Rp218,750,000,000.
PT Medco Cahaya Geothermal PT Medco Cahaya Geothermal
Pada 11 Januari 2023, PT Medco Cahaya On January 11, 2023, PT Medco Cahaya
Geothermal menandatangani Perjanjian Geothermal signed project financing agreement
Pembiayaan Proyek sebesar AS$70.000.000 US$70,000,000 with PT Sarana Multi
dengan PT Sarana Multi Infrastruktur, dengan Infrastruktur, with 20 years tenor. This financing
jangka waktu 20 tahun. Pembiayaan ini aims to finance the Ijen Geothermal Power
bertujuan untuk pembangunan PLTP Ijen unit 1 Plant phase-1 capacity 31.4 MW in Blawan-Ijen.
182
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 349
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Fasilitas Kredit (lanjutan) Credit Facility (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
PT Medco Cahaya Geothermal (lanjutan) PT Medco Cahaya Geothermal (continued)
Selama tahun 2024, PT Medco Cahaya During 2024, PT Medco Cahaya Geothermal
Geothermal melakukan penarikan pinjaman dari has withdrawn loan US$62,131,796 from PT
PT Sarana Multi Infrastruktur (Persero) sebesar Sarana Multi Infrastruktur (Persero), include
AS$62.131.796, termasuk fasilitas bunga masa Interest During Construction US$1,374,143.
konstruksi sebesar AS$1.374.143.
Pada tanggal 22 Mei 2025, PT Medco Cahaya On May 22, 2025, PT Medco Cahaya
Geothermal menandatangani amandemen Geothermal has signed amendment of project
Perjanjian Pembiayaan Proyek dengan PT financing agreement with PT Sarana Multi
Sarana Multi Infrastruktur dengan total fasilitas Infrastruktur with amended total facility
yang diamandemen AS$144.900.000. US$144,900,000.
Pada 27 Mei 2025, PT Medco Cahaya On May 27, 2025, PT Medco Cahaya
Geothermal melakukan penarikan pinjaman dari Geothermal has withdrawn loan US$35,000,000
PT Sarana Multi Infrastruktur (Persero) sebesar from PT Sarana Multi Infrastruktur (Persero).
AS$35.000.000.
Sukuk Wakalah Rupiah Rupiah Sukuk Wakalah
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak Subsidiaries
Pada tanggal 18 Januari 2024, Medco Power On January 18, 2024, Medco Power Indonesia
Indonesia menerbitkan Sukuk Wakalah issued a Shelf Registered Sukuk Wakalah I
Berkelanjutan I Tahap III Tahun 2024 sebesar Phase III of 2024 for Rp750,000,000,000
Rp750.000.000.000 yang terbagi dalam tiga seri consisting of three tranches:
yaitu:
• Seri A sebesar Rp175.995.000.000 • Tranche A Rp175,995,000,000 with 3-
dengan tenor 3 tahun; year tenor;
• Seri B sebesar Rp494.490.000.000 • Tranche B Rp494,490,000,000 with 5-
dengan tenor 5 tahun; year tenor;
• Seri C sebesar Rp79.515.000.000 • Tranche C Rp79,515,000,000 with 7-
dengan tenor 7 tahun. year tenor.
Pada tanggal 23 Mei 2024, MPI melakukan On May 23, 2024, MPI has fully settled Sukuk
pelunasan pokok Sukuk Wakalah II tahun 2019 Wakalah II year 2019 tranche B
seri B sebesar Rp7.000.000.000. Rp7,000,000,000.
Pada tanggal 7 Februari 2025, Medco Power On February 7, 2025, Medco Power Indonesia
Indonesia menerbitkan Sukuk Wakalah issued a Shelf Registered Sukuk Wakalah I
Berkelanjutan I Tahap IV Tahun 2025 sebesar Phase IV of 2025 for Rp1,150,000,000,000
Rp1.150.000.000.000 yang terbagi dalam tiga consisting of three tranches:
seri yaitu:
• Seri A sebesar Rp125.035.000.000 • Tranche A Rp125,035,000,000 with 3-
dengan tenor 3 tahun; year tenor;
• Seri B sebesar Rp816.955.000.000 • Tranche B Rp816,955,000,000 with 5-
dengan tenor 5 tahun; year tenor;
• Seri C sebesar Rp208.010.000.000 • Tranche C Rp208,010,000,000 with 7-
dengan tenor 7 tahun. year tenor.
183
Page 352
2025 Management Business Company Corporate
350 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Sukuk Wakalah Rupiah (lanjutan) Rupiah Sukuk Wakalah (continued)
PT Medco Power Indonesia (“MPI”) dan Entitas PT Medco Power Indonesia (“MPI”) and
Anak (lanjutan) Subsidiaries (continued)
Pada tanggal 4 Juli 2025, MPI melakukan On July 4, 2025, MPI has fully settled Bonds I
pelunasan pokok Obligasi I Tahun 2018 Seri C Year 2018 Tranche C amounting to
sebesar Rp258.000.000.000. Rp258,000,000,000.
Pada tanggal 4 Juli 2025, MPI melakukan On July 4, 2025, MPI has fully settled Sukuk
pelunasan pokok Sukuk Wakalah I Seri C tahun Wakalah I Tranche C year 2018 amounting to
2018 sebesar Rp43.000.000.000. Rp43,000,000,000.
Pada tanggal 1 Juli 2025, PT Medco Power On July 1, 2025, PT Medco Power Indonesia
Indonesia menerbitkan Penawaran Umum issued a Shelf Registered Rupiah Bond I Phase
Berkelanjutan I Tahap I Tahun 2025 sebesar I of 2025 for Rp500,000,000,000 consisting of
Rp500.000.000.000 yang terbagi dalam dua seri two tranches:
yaitu:
• Seri A sebesar Rp300.000.000.000 • Tranche A Rp300,000,000,000 with 5-
dengan tenor 5 tahun; years tenor;
• Seri B sebesar Rp 200.000.000.000 • Tranche B Rp200,000,000,000 with 7-
dengan tenor 7 tahun. years tenor.
Pada tanggal 4 Agustus 2025, MPI melakukan On August 4, 2025, MPI has fully settled Shelf
pelunasan pokok PUB Sukuk Wakalah I Seri A Registered Sukuk Wakalah I Tranche A year
tahun 2022 sebesar Rp280.000.000.000. 2022 amounting to Rp280,000,000,000.
Pada tanggal 30 Desember 2025, MPI On December 30, 2025, MPI has fully settled
melakukan pelunasan pokok PUB Sukuk Shelf Registered Sukuk Wakalah II Tranche A
Wakalah II Seri A tahun 2022 sebesar year 2022 amounting to Rp469,960,000,000.
Rp469.960.000.000.
Obligasi Dolar AS US Dollar Bonds
Medco Platinum Road Pte. Ltd. Medco Platinum Road Pte. Ltd.
Pada tanggal 30 Januari 2018, Medco Platinum On January 30, 2018, Medco Platinum Road
Road Pte. Ltd. entitas anak yang dimiliki Pte. Ltd. a wholly-owned subsidiary of MSS,
sepenuhnya oleh MSS, menerbitkan Senior issued a US$500,000,000 Senior Notes due in
Notes sebesar AS$500.000.000 yang akan 2025, with coupon rate of 6.75% per annum,
jatuh tempo pada tahun 2025, dengan kupon which are unconditionally and irrevocably
sebesar 6,75% per tahun, yang dijamin tanpa guaranteed by the Company and certain
syarat dan tidak dapat dibatalkan oleh subsidiaries.
Perusahaan dan entitas anak tertentu.
Senior Notes ini akan jatuh tempo pada tanggal The Senior Notes will mature on January 30,
30 Januari 2025, dan bunganya akan mulai 2025, and interest will be accrued from January
dicatat dari tanggal 30 Januari 2018 dan 30, 2018 payable semi-annually in arrears
terutang setiap tengah tahun mulai tanggal 30 commencing on July 30, 2018. The Senior
Juli 2018. Senior Notes ini tercatat pada Notes are listed on the Singapore Exchange
Singapore Exchange Securities Trading Limited. Securities Trading Limited.
Pada tanggal 6 Mei 2024, Medco Platinum On May 6, 2024, Medco Platinum Road Pte.
Road Pte. Ltd. telah melakukan pelunasan lebih Ltd. has conducted early repayment
awal (penebusan) atas sisa dari seluruh Senior (redemption) of the entire remaining outstanding
Notes termasuk dengan bunga dan biaya Senior Notes including interest and premium for
premium sebesar AS$34.177.373. US$34,177,373.
184
Page 353
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 351
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Obligasi Dolar AS (lanjutan) US Dollar Bonds (continued)
Medco Oak Tree Pte. Ltd. Medco Oak Tree Pte. Ltd.
Pada tanggal 14 Mei 2019, Medco Oak Tree On May 14, 2019, Medco Oak Tree Pte. Ltd. a
Pte. Ltd. entitas anak yang dimiliki sepenuhnya wholly owned indirect subsidiary, issued a
secara tidak langsung, menerbitkan Senior US$650,000,000 Senior Notes due in 2026, with
Notes sebesar AS$650.000.000 yang akan coupon rate of 7.375% per annum, which are
jatuh tempo pada tahun 2026, dengan kupon irrevocably and unconditionally guaranteed by
sebesar 7,375% per tahun, yang tidak dapat the Company and certain subsidiaries.
dibatalkan dan dijamin tanpa syarat oleh
Perusahaan dan entitas anak tertentu.
Senior Notes ini akan jatuh tempo pada tanggal The Senior Notes will mature on May 14, 2026
14 Mei 2026 dan bunganya akan mulai dicatat and its interest will be accrued from May 14,
dari tanggal 14 Mei 2019 dan terutang setiap 2019 and payable semi-annually in arrears
tengah tahun mulai tanggal 14 November 2019. commencing on November 14, 2019. The
Senior Notes ini tercatat pada Singapore Senior Notes are listed on the Singapore
Exchange Securities Trading Limited. Exchange Securities Trading Limited.
Selama tahun 2024, Grup, melalui Perusahaan, During 2024, the Group, through the Company,
telah melakukan pembelian kembali utang has bought back Medco Oak Tree Pte. Ltd.
Senior Notes Medco Oak Tree Pte. Ltd. dengan Senior Notes US$25,527,000 from the market.
nilai nominal sebesar AS$25.527.000 dari In June and October 2024, the corresponding
pasar. Pada bulan Juni dan Oktober 2024, amount has been marked down for cancellation.
jumlah tersebut dilakukan pembatalan.
Pada bulan Juni dan Oktober 2024, Medco Oak In June and October 2024, Medco Oak Tree
Tree Pte. Ltd. telah menyelesaikan dan Pte. Ltd. completed and paid the tender offer for
membayar penawaran tender untuk percepatan the early repayment of its Senior Notes of
pelunasan dari Senior Notes masing-masing US$148,809,000 and US$57,103,000,
sebesar AS$148.809.000 dan AS$57.103.000. respectively.
Pada bulan Juni 2025, Medco Oak Tree Pte. In June 2025, Medco Oak Tree Pte. Ltd.
Ltd. telah menyelesaikan dan membayar completed and paid the tender offer for the early
penawaran tender untuk percepatan pelunasan repayment of its Senior Notes of
dari Senior Notes sebesar AS$150.595.000. US$150,595,000.
Medco Bell Pte. Ltd. Medco Bell Pte. Ltd.
Pada tanggal 30 Januari 2020, Medco Bell Pte. On January 30, 2020, Medco Bell Pte. Ltd. a
Ltd. entitas anak yang dimiliki sepenuhnya, wholly-owned subsidiary, issued US$650 million
menerbitkan Senior Notes sebesar AS$650 juta Senior Notes listed on the Singapore Exchange
yang tercatat pada Singapore Exchange Securities Trading Limited. The Senior Notes
Securities Trading Limited. Senior Notes ini will mature in 2027 and are unconditionally
akan jatuh tempo pada tahun 2027 dan dijamin guaranteed and irrevocably by the Company
tanpa syarat dan tidak dapat dibatalkan oleh and certain subsidiaries. Its proceeds were used
Perusahaan dan entitas anak tertentu. Hasilnya mainly for refinancing purpose. The coupon is
telah digunakan terutama untuk tujuan 6.375% per annum, which will start to be
refinancing. Kupon adalah sebesar 6,375% per accrued from January 30, 2020 and payable
tahun, yang bunganya akan mulai dicatat dari semi-annually in arrears commencing on July
tanggal 30 Januari 2020 dan akan terutang 30, 2020.
setiap tengah tahun mulai tanggal 30 Juli 2020.
185
Page 354
2025 Management Business Company Corporate
352 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Obligasi Dolar AS (lanjutan) US Dollar Bonds (continued)
Medco Bell Pte. Ltd. (lanjutan) Medco Bell Pte. Ltd. (continued)
Selama bulan Januari hingga November 2024, During January to November 2024, the Group,
Grup, melalui Perusahaan, telah melakukan through the Company, has bought back Medco
pembelian kembali utang Senior Notes Medco Bell Pte. Ltd. Senior Notes US$22,989,000 from
Bell Pte. Ltd. dengan nilai nominal sebesar the market. In June and October 2024, the
AS$22.989.000 dari pasar. Pada bulan Juni dan corresponding amount has been marked down
Oktober 2024, jumlah tersebut dilakukan for cancellation.
pembatalan.
Pada tanggal 24 Oktober 2024, Medco Bell Pte. On October 24, 2024, Medco Bell Pte. Ltd.
Ltd. telah menyelesaikan dan membayar completed and paid the tender offer for the early
penawaran tender untuk percepatan pelunasan repayment of its Senior Notes US$50,125,000.
dari Senior Notes sebesar AS$50.125.000.
Selama bulan Desember 2024, Grup, melalui During December 2024, the Group, through the
Perusahaan, telah melakukan pembelian Company, has bought back Medco Bell Pte. Ltd.
kembali utang Senior Notes Medco Bell Pte. Senior Notes US$1,370,000 from the market.
Ltd. dengan nilai nominal sebesar
AS$1.370.000 dari pasar.
Selama bulan Januari hingga Juni 2025, Grup, During January to June 2025, the Group,
melalui Perusahaan, telah melakukan through the Company, has bought back Medco
pembelian kembali utang Senior Notes Medco Bell Pte. Ltd. Senior Notes US$15,205,000 from
Bell Pte. Ltd. dengan nilai nominal sebesar the market. In June 2025, the US$16,575,000
AS$15.205.000 dari pasar. Pada bulan Juni has been marked down for cancellation.
2025, jumlah sebesar AS$16.575.000 telah
dilakukan pembatalan.
Pada bulan Juni 2025, Medco Bell Pte. Ltd. In June 2025, Medco Bell Pte. Ltd. completed
telah menyelesaikan dan membayar penawaran and paid the tender offer for the early
tender untuk percepatan pelunasan dari Senior repayment of its Senior Notes of
Notes sebesar AS$310.934.000. US$310,934,000.
Medco Laurel Tree Pte. Ltd. Medco Laurel Tree Pte. Ltd.
Pada tanggal 12 November 2021, Medco Laurel On November 12, 2021, Medco Laurel Tree Pte.
Tree Pte. Ltd., entitas anak yang dimiliki Ltd., a wholly-owned subsidiary, issued US$400
sepenuhnya, menerbitkan Senior Notes sebesar million Senior Notes listed on the Singapore
AS$400 juta yang tercatat pada Singapore Exchange Securities Trading Limited. The
Exchange Securities Trading Limited. Senior Senior Notes will mature in 2028 and are
Notes ini akan jatuh tempo pada tahun 2028 unconditionally guaranteed and irrevocably by
dan dijamin tanpa syarat dan tidak dapat the Company and certain subsidiaries. Its
dibatalkan oleh Perusahaan dan entitas anak proceeds were used mainly for refinancing
tertentu. Hasilnya telah digunakan terutama purpose. The coupon is 6.95% per annum,
untuk tujuan refinancing. Kupon adalah sebesar which will start to be accrued from November
6,95% per tahun, yang bunganya akan mulai 12, 2021 and payable semi-annually in arrears
dicatat dari tanggal 12 November 2021 dan commencing on May 12, 2022.
akan terutang setiap tengah tahun mulai tanggal
12 Mei 2022.
Selama tahun 2025, Grup, melalui Perusahaan, During 2025, the Group, through the Company,
telah melakukan pembelian kembali utang has bought back Medco Laurel Tree Pte. Ltd.
Senior Notes Medco Laurel Tree Pte. Ltd. Senior Notes US$38,411,000 from the market
dengan nilai nominal sebesar AS$38.411.000 and the amount has been marked down for
dari pasar dan jumlah tersebut telah dilakukan cancellation.
pembatalan.
186
Page 355
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 353
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
29. UTANG JANGKA PANJANG LAINNYA (lanjutan) 29. OTHER LONG-TERM DEBTS (continued)
c. Lain-lain (lanjutan) c. Others (continued)
Obligasi Dolar AS (lanjutan) US Dollar Bonds (continued)
Medco Maple Tree Pte. Ltd. Medco Maple Tree Pte. Ltd.
Pada tanggal 27 Oktober 2023, Medco Maple On October 27, 2023, Medco Maple Tree Pte.
Tree Pte. Ltd., entitas anak yang dimiliki Ltd., a wholly-owned subsidiary, issued
sepenuhnya, menerbitkan Senior Notes sebesar US$500,000,000 million Senior Notes listed on
AS$500.000.000 yang terdaftar pada Singapore the Singapore Exchange Securities Trading
Exchange Securities Trading Limited. Senior Limited. The Senior Notes will mature in 2029
Notes ini akan jatuh tempo pada tahun 2029 and are unconditionally and irrevocably
dan dijamin tanpa syarat dan tidak dapat guaranteed by the Company and certain
dibatalkan oleh Perusahaan dan entitas anak subsidiaries. The coupon is 8.96% per annum,
tertentu. Kupon adalah sebesar 8,96% per which will start to be accrued from October 27,
tahun, yang bunganya akan mulai terutang dari 2023 and payable semi-annually in arrears
tanggal 27 Oktober 2023 dan akan dibayar commencing on April 27, 2024.
setiap tengah tahun mulai tanggal 27 April 2024.
Selama bulan Januari hingga Juni 2025, Grup, During January to June 2025, the Group,
melalui Perusahaan, telah melakukan through the Company, has bought back Medco
pembelian kembali utang Senior Notes Medco Maple Tree Pte. Ltd. Senior Notes
Maple Tree Pte. Ltd. dengan nilai nominal US$18,000,000 from the market. In June 2025,
sebesar AS$18.000.000 dari pasar. Pada bulan the corresponding amount has been marked
Juni 2025, jumlah tersebut telah dilakukan down for cancellation.
pembatalan.
Medco Cypress Tree Pte. Ltd. Medco Cypress Tree Pte. Ltd.
Pada tanggal 19 Mei 2025, Medco Cypress On May 19, 2025, Medco Cypress Tree Pte.
Tree Pte. Ltd., entitas anak yang dimiliki Ltd., a wholly-owned subsidiary, issued US$400
sepenuhnya, menerbitkan Senior Notes sebesar million Senior Notes listed on the Singapore
AS$400 juta yang tercatat pada Singapore Exchange Securities Trading Limited. The
Exchange Securities Trading Limited. Senior Senior Notes will mature in 2030 and are
Notes ini akan jatuh tempo pada tahun 2030 unconditionally and irrevocably guaranteed by
dan dijamin tanpa syarat dan tidak dapat the Company and certain subsidiaries. The
dibatalkan oleh Perusahaan dan entitas anak coupon is 8.625% per annum, which will start to
tertentu. Kupon adalah sebesar 8,625% per be accrued from May 19, 2025 and payable
tahun, yang bunganya akan mulai dicatat dari semi-annually in arrears commencing
tanggal 19 Mei 2025 dan akan terutang setiap November 19, 2025.
tengah tahun mulai tanggal 19 November 2025.
187
Page 356
2025 Management Business Company Corporate
354 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
30. KEPENTINGAN NONPENGENDALI 30. NON-CONTROLLING INTERESTS
Akun ini terdiri dari: This account consists of:
2025
Bagian atas
Jumlah
Penghasilan
Kepentingan (Rugi)
Nonpengendali Komprehensif
pada Awal pada Tahun Selisih Transaksi Kepentingan
Tahun/ Berjalan/ dengan Entitas Nonpengendali
Non- Share in Total Sepengendali/ pada Akhir
controlling Comprehensive Difference Value Pembagian Setoran Tahun/
Interests at Income (Loss) With Entity Dividen/ Modal/ Non-controlling
Beginning of of the Current Under Common Dividend Capital Interest at End of
Year Year Control Distribution Distribution Year
PT Medco Kansai PT Medco Kansai
Power Indonesia 58.906.190 4.071.301 – (5.229.788) – 57.747.703 Power Indonesia
PT Medco Ratch Power PT Medco Ratch Power
Riau 70.482.841 (323.312) – – – 70.159.529 Riau
PT Medco Cahaya PT Medco Cahaya
Geothermal 34.949.388 2.723.154 – – – 37.672.542 Geothermal
PT Dalle Energy Batam 8.570.006 (105.439) – (425.099) – 8.039.468 PT Dalle Energy Batam
PT Medco Energi PT Medco Energi
Menamas 11.483.361 (283.320) – – – 11.200.041 Menamas
PT Medco General PT Medco General
Power Services 4.573.070 547.481 – (10.926) – 5.109.625 Power Services
Medco Oman LLC 2.212.708 6.148.604 – (5.231.600) – 3.129.712 Medco Oman LLC
PT Multidaya Prima PT Multidaya Prima
Elektrindo 3.101.328 (48.208) – (91.047) – 2.962.073 Elektrindo
PT Universal Batam PT Universal Batam
Energy 4.194.831 879.030 – (913.087) 5.101.120 9.261.894 Energy
Transasia Pipeline Transasia Pipeline
Company Pvt. Ltd. 32.790.795 (7.241.837) (25.548.958) – – – Company Pvt. Ltd.
Lain-lain 1.040.900 537.801 – (136.764) – 1.441.937 Others
Jumlah 232.305.418 6.905.255 (25.548.958) (12.038.311) 5.101.120 206.724.524 Total
2024
Bagian atas
Jumlah
Penghasilan
(Rugi)
Komprehensif
Kepentingan pada Tahun Kepentingan
Nonpengendali pada Berjalan/ Akuisisi Nonpengendali pada
Awal Tahun/ Share in Total Entitas Anak/ Akhir Tahun/
Non-controlling Comprehensive Pembagian Dividen/ Acquisition Non-controlling
Interests at Income (Loss) of Dividend of Interest at End of
Beginning of Year the Current Year Distribution Subsidiaries Year
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 59.487.500 973.720 (1.555.030) – 58.906.190 Indonesia
PT Medco Ratch Power PT Medco Ratch Power
Riau 70.240.886 3.939.866 (3.697.911) – 70.482.841 Riau
PT Medco Cahaya PT Medco Cahaya
Geothermal 32.130.956 2.818.432 – – 34.949.388 Geothermal
PT Dalle Energy Batam 9.803.970 (1.233.964) – – 8.570.006 PT Dalle Energy Batam
PT Medco Energi PT Medco Energi
Menamas 11.495.694 (12.333) – – 11.483.361 Menamas
PT Medco General Power PT Medco General Power
Services 4.590.778 (17.708) – – 4.573.070 Services
Medco Oman LLC 2.166.896 4.005.812 (3.960.000) – 2.212.708 Medco Oman LLC
PT Multidaya Prima PT Multidaya Prima
Elektrindo 3.147.079 (45.751) – – 3.101.328 Elektrindo
PT Universal Batam PT Universal Batam
Energy 3.917.220 881.295 (603.684) – 4.194.831 Energy
Transasia Pipeline Transasia Pipeline
Company Pvt. Ltd. – (908.428) – 33.699.223 32.790.795 Company Pvt. Ltd.
Lain-lain 2.071.715 (1.030.815) – – 1.040.900 Others
Jumlah 199.052.694 9.370.126 (9.816.625) 33.699.223 232.305.418 Total
188
Page 357
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 355
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
30. KEPENTINGAN NONPENGENDALI (lanjutan) 30. NON-CONTROLLING INTERESTS (continued)
Ekuitas kepemilikan nonpengendali atas ekuitas The equity interest held by non-controlling interests
adalah sebagai berikut: is as follows:
2025 2024
PT Medco Cahaya Geothermal 49,00 % 49,00 % PT Medco Cahaya Geothermal
PT Medco Ratch Power Riau 49,00 % 49,00 % PT Medco Ratch Power Riau
PT Medco Kansai Power Indonesia 40,00 % 40,00 % PT Medco Kansai Power Indonesia
PT Universal Batam Energy 30,00 % 30,00 % PT Universal Batam Energy
Medco Oman LLC 22,00 % 22,00 % Medco Oman LLC
PT Dalle Energy Batam 20,01 % 20,01 % PT Dalle Energy Batam
PT Multidaya Prima Elektrindo 15,00 % 15,00 % PT Multidaya Prima Elektrindo
Transasia Pipeline Company Pvt. Ltd. –% 15,00 % Transasia Pipeline Company Pvt. Ltd.
PT Medco General Power Services 0,40 % 0,40 % PT Medco General Power Services
PT Medco Energi Menamas 0,01 % 0,01 % PT Medco Energi Menamas
Lain-Lain: Others:
PT MedcoSolar Bali Timur 49,00 % 49,00 % PT MedcoSolar Bali Timur
PT MedcoSolar Bali Barat 49,00 % 49,00 % PT MedcoSolar Bali Barat
PT Sangsaka Agro Lestari 30,00 % 30,00 % PT Sangsaka Agro Lestari
PT Muara Enim Multi Power 20,00 % 20,00 % PT Muara Enim Multi Power
PT Nawakara Energi Sumpur 20,00 % 20,00 % PT Nawakara Energi Sumpur
PT Energi Prima Elektrika 7,50 % 7,50 % PT Energi Prima Elektrika
PT Dalle Panaran 0,99 % 0,99 % PT Dalle Panaran
PT Medco Geothermal Sarulla 0,04 % 0,04 % PT Medco Geothermal Sarulla
PT Indo Medco Power 0,02 % 0,02 % PT Indo Medco Power
PT Medco Geothermal Indonesia 0,01 % 0,01 % PT Medco Geothermal Indonesia
PT Medco Kansai Power Indonesia dan Entitas PT Medco Kansai Power Indonesia and
Anak (“MKPI”) Subsidiaries (“MKPI”)
Pada tanggal 5 Maret 2021, PT Medco Kansai On March 5, 2021, PT Medco Kansai Power
Power Indonesia (“MKPI”) dan MPI Indonesia (“MKPI”) and MPI signed a sales and
menandatangani perjanjian jual beli untuk purchase agreement to execute the purchase of
melaksanakan pembelian entitas anak MPI yang MPI subsidiaries engaged in Gas IPP and O&M
bergerak di bisnis Gas IPP dan O&M (selain businesses (except for MRPR) by way of
MRPR) dengan memindahkan entitas-entitas anak transferring such subsidiaries to be owned by
tersebut untuk dimiliki oleh MKPI. Setelah transaksi MKPI. Upon effective of the transaction, Group held
efektif, Grup memiliki porsi kepentingan the portion of equity interest held by non-controlling
nonpengendali pada PT Medco Kansai Power interest in PT Medco Kansai Power Indonesia
Indonesia (“MKPI”) adalah sebesar 40%. (“MKPI”) is 40%.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2025 2024
Aset Lancar 125.721.828 122.276.978 Current Assets
Aset Tidak Lancar 189.259.472 148.753.189 Non-current Assets
Liabilitas Jangka Pendek 48.123.140 38.634.982 Current Liabilities
Liabilitas Jangka Panjang 92.186.738 61.731.930 Non-current Liabilities
Kepentingan non-pengendali 30.003.012 23.391.443 Non-controlling Interest
189
Page 358
2025 Management Business Company Corporate
356 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
30. KEPENTINGAN NONPENGENDALI (lanjutan) 30. NON-CONTROLLING INTERESTS (continued)
PT Medco Kansai Power Indonesia dan Entitas PT Medco Kansai Power Indonesia and
Anak (“MKPI”) (lanjutan) Subsidiaries (“MKPI”) (continued)
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain comprehensive income
2025 2024
Pendapatan 98.001.195 77.275.730 Revenues
Beban pokok pendapatan (62.709.902) (49.828.172) Cost of revenues
Laba kotor 35.291.293 27.447.558 Gross profit
Beban penjualan, umum dan Selling, general and administrative
administrasi (19.628.737) (18.646.482) expenses
Beban pendanaan (2.774.421) (2.573.943) Finance costs
Pendapatan bunga 3.637.397 2.768.146 Finance income
Pendapatan lain-lain 7.371.095 5.134.591 Other income
Beban lain-lain (1.202.604) (1.411.828) Other expense
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 22.694.023 12.718.042 EXPENSE
Beban pajak penghasilan (4.449.701) (1.993.281) Income tax expense
LABA PERIODE BERJALAN 18.244.322 10.724.761 PROFIT FOR THE PERIOD
Penghasilan komprehensif lain 3.454.262 1.984.798 Other comprehensive income
JUMLAH LABA KOMPREHENSIF TOTAL COMPREHENSIVE INCOME
PERIODE BERJALAN 21.698.584 12.709.559 FOR THE PERIOD
Laba komprehensif periode berjalan Total comprehensive income for the
yang diatribusikan kepada: period attributable to:
Pemilik entitas induk 17.743.127 10.231.399 Equity holders of the parent
Kepentingan nonpengendali 3.955.457 2.478.160 Non-controlling interests
JUMLAH 21.698.584 12.709.559 TOTAL
Ringkasan laporan arus kas Summarized statement of cash flows
2025 2024
Arus kas diperoleh dari aktivitas Cash flows provided by operating
operasi 6.562.633 25.336.018 activities
Arus kas digunakan untuk aktivitas
investasi (8.126.710) (10.684.777) Cash flows used in investing activities
Arus kas diperoleh dari (digunakan Cash flows provided by (used in)
untuk) aktivitas pendanaan 4.329.571 (9.132.975) financing activities
Net increase in cash and cash
Kenaikan neto - kas dan setara kas 2.765.494 5.518.266 equivalents
Cash and cash equivalents at
Kas dan setara kas awal tahun 81.183.854 79.191.104 beginning of year
Effect of foreign exchange rate
Efek dari perbedaan nilai tukar (1.029.222) (3.525.516) changes
Kas dan setara kas akhir periode/ Cash and cash equivalents at end
tahun 82.920.126 81.183.854 of period/year
190
Page 359
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 357
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
30. KEPENTINGAN NONPENGENDALI (lanjutan) 30. NON-CONTROLLING INTERESTS (continued)
Lain-lain Others
Pada tahun 2025, Medco LLC mengumumkan In 2025, Medco LLC declared dividends amounting
dividen sebesar AS$23.780.000, dimana sebesar to US$23,780,000, whereby dividends amounting to
US$1.980.000 telah didistribusikan kepada pihak US$1,980,000 was paid to non-controlling interest
nonpengendali pada Juni 2025, dan sebesar on June 2025, and the rest US$3,251,600 was paid
US$3.251.600 didistribusikan kepada pihak to non-controlling interest on December 2025.
nonpengendali pada Desember 2025.
Pada tahun 2024, Medco LLC mengumumkan In 2024, Medco LLC declared dividends amounting
dividen sebesar AS$18.000.000, dimana sebesar to US$18,000,000, whereby dividends amounting to
AS$2.640.000 telah didistribusikan kepada pihak US$ 2,640,000 was paid to non-controlling interest
nonpengendali dan sisanya sebesar AS$1.320.000 and the rest US$ 1,320,000 was paid on January
dibayarkan kepada pihak nonpengendali pada 2025.
Januari 2025.
Pada tahun 2024, PT Medco Geothermal Sarulla In 2024, PT Medco Geothermal Sarulla and PT
and PT Medco Kansai Power Indonesia Medco Kansai Power Indonesia distributed interim
mendistribusikan dividen interim hasil kinerja tahun dividends for performance result 2023 whereby
2023 setara dengan AS$910,688 yang telah dividends equivalent to US$910,688 were paid to
dibayarkan kepada pihak nonpengendali. non-controlling interest.
31. MODAL SAHAM 31. CAPITAL STOCK
2025
Persentase
Jumlah Saham/ Kepemilikan/
Number of Percentage of Jumlah/Amount
Pemegang Saham/Shareholders Shares Ownership Rp‘000 AS$/US$
PT Medco Daya Abadi Lestari 12.944.140.124 52,45 % 323.603.503 62.721.519
Diamond Bridge Pte Ltd 5.395.205.771 21,86 % 134.880.144 26.142.756
PT Medco Duta 30.044.500 0,12 % 751.113 145.582
Dewan Komisaris/Board of Commissioners
Yani Yuhani Panigoro 11.195.706 0,05 % 279.893 54.249
Yaser Raimi A. Panigoro 3.528.813 0,01 % 88.220 17.099
Dewan Direksi/Board of Directors
Roberto Lorato 174.528.380 0,71 % 4.363.210 845.687
Ronald Gunawan 66.201.072 0,27 % 1.655.027 320.781
Amri Siahaan 43.219.619 0,18 % 1.080.490 209.423
Anthony Robert Mathias 29.426.182 0,12 % 735.655 142.586
Hilmi Panigoro 36.528.083 0,15 % 913.202 176.999
Masyarakat (masing-masing di bawah 5%)/
Public (each below 5%) 5.946.603.094 24,08 % 148.665.077 28.814.583
Sub-jumlah/Sub-total 24.680.621.344 100,00 % 617.015.534 119.591.264
Saham treasuri/Treasury stock 455.609.908 11.390.248 2.207.682
Jumlah/Total 25.136.231.252 628.405.782 121.798.946
191
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2025 Management Business Company Corporate
358 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
31. MODAL SAHAM (lanjutan) 31. CAPITAL STOCK (continued)
2024
Persentase
Jumlah Saham/ Kepemilikan/
Number of Percentage of Jumlah/Amount
Pemegang Saham/Shareholders Shares Ownership Rp‘000 AS$/US$
PT Medco Daya Abadi Lestari 12.944.140.124 51,64 % 323.603.503 62.721.519
Diamond Bridge Pte Ltd 5.395.205.771 21,53 % 134.880.144 26.142.756
PT Medco Duta 30.044.500 0,12 % 751.113 145.582
Dewan Komisaris/Board of Commissioners
Yani Yuhani Panigoro 8.703.146 0,03 % 217.579 42.172
Yaser Raimi A. Panigoro 2.223.533 0,01 % 55.588 10.774
Dewan Direksi/Board of Directors
Roberto Lorato 168.421.200 0,67 % 4.210.530 816.094
Ronald Gunawan 71.810.642 0,29 % 1.795.266 347.962
Amri Siahaan 52.081.449 0,21 % 1.302.036 252.363
Anthony Robert Mathias 40.035.752 0,16 % 1.000.894 193.995
Hilmi Panigoro 31.269.683 0,12 % 781.742 151.519
Masyarakat (masing-masing di bawah 5%)/
Public (each below 5%) 6.320.842.364 25,22 % 158.021.059 30.627.980
Sub-jumlah/Sub-total 25.064.778.164 100,00 % 626.619.454 121.452.716
Saham treasuri/Treasury stock 71.453.088 1.786.328 346.230
Jumlah/Total 25.136.231.252 628.405.782 121.798.946
Berdasarkan Penawaran Umum Terbatas II (“PUT Based on Limited Public Offering II in 2017 (“PUT
II”) tahun 2017, Perusahaan menerbitkan II”), the Company issue a total of 4,399,117,667
sebanyak-banyaknya 4.399.117.667 Waran Seri I, Series I Warrants, which represent 33.33% of the
yang merupakan 33,33% dari jumlah modal total issued and paid-up capital as of the
ditempatkan dan disetor penuh pada saat submission of the registration statement and based
pernyataan pendaftaran dan berdasarkan asumsi on the assumption that the Series I Warrants are
dilaksanakannya Waran Seri I sebelum PUT II. exercised prior to the PUT II. Every 1 right share of
Untuk setiap 1 saham hasil pelaksanaan HMETD HMETD shall be accompanied by 1 Series I
tersebut melekat 1 Waran Seri I bagi pemegang Warrant granted to the Pre-Emptive Right holders
HMETD yang melaksanakan haknya. Waran Seri I exercising their rights. The Series I Warrants may
dapat dilaksanakan mulai tanggal 1 Juli 2018 be exercised from July 1, 2018 until December 11,
sampai dengan tanggal 11 Desember 2020, dimana 2020, where each holder of 1 Series I Warrant shall
setiap pemegang 1 Waran Seri I berhak untuk be entitled to purchase 1 share of the Company,
membeli 1 saham Perusahaan dengan ketentuan subject to the following provisions:
sebagai berikut:
- Tahap I dimulai pada tanggal 1 Juli 2018 - Exercise Window I shall commence from July
sampai dengan 31 Desember 2018 dengan 1, 2018 until December 31, 2018, with the
Harga Pelaksanaan Waran Tahap I Rp625 per Exercise Price for the Warrant Exercise
saham; Window I of Rp625 per share;
- Tahap II dimulai pada tanggal 1 Januari 2019 - Exercise Window II shall commence from
sampai dengan 31 Desember 2019 dengan January 1, 2019 until December 31, 2019,
Harga Pelaksanaan Waran Tahap II Rp650 with the Exercise Price for the Warrant
per saham; Exercise Window II of Rp650 per share;
- Tahap III dimulai pada tanggal 1 Januari 2020 - Exercise Window III shall commence from
sampai dengan 11 Desember 2020 dengan January 1, 2020 until December 11, 2020,
Harga Pelaksanaan Waran Tahap III Rp675 with the Exercise Price for the Warrant
per saham. Exercise Window III of Rp675 per share.
192
Page 361
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 359
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
31. MODAL SAHAM (lanjutan) 31. CAPITAL STOCK (continued)
Terkait dengan Penawaran Umum Terbatas II Hak In connection with the Issuance of Pre-Emptive
Memesan Efek Terlebih Dahulu (“PUT II HMETD”) Rights II (“PUT II HMETD”) in December 2017,
di bulan Desember 2017, para pemegang saham shareholders that exercised their rights were issued
yang melaksanakan haknya diberikan waran yang one detachable warrant (“Warrants”) per share
dapat diperjualbelikan secara terpisah (“Waran”) subscribed for in the rights offering. Encore Energy
per saham yang dipesan. Encore Energy Pte. Ltd., Pte. Ltd., Clio Capital Ventures Pte. Ltd., PT
Clio Capital Ventures Pte. Ltd., PT Multifabrindo Multifabrindo Gemilang and PT Medco Duta
Gemilang dan PT Medco Duta mengalihkan hak transferred their entitlement of PUT II HMETD
mereka dalam PUT II HMETD kepada PT Medco offering to PT Medco Daya Abadi Lestari (“MDAL”).
Daya Abadi Lestari (“MDAL”). Selain dari Waran In addition to the Warrants received pursuant to this
yang diterima dari pengalihan ini, pada tanggal transfer, on the issue date of the Warrants, MDAL
penerbitan Waran, MDAL juga menerima Waran also received Warrants from the shares that it
dari saham yang dipesannya dalam PUT II HMETD. subscribed from PUT II HMETD. The Warrants are
Waran tersebut dapat dipergunakan antara bulan exercisable between July 2018 to December 2020.
Juli 2018 sampai dengan bulan Desember 2020.
Anggaran Dasar Perusahaan mengalami The Company's Articles of Association has been
perubahan berdasarkan Akta Notaris No. 12 amended based on notarial deed No. 12 dated
tanggal 5 Juni 2020, yang telah diterima dan dicatat June 5, 2020, which has been accepted and
oleh Menteri Hukum dan Hak Asasi Manusia dalam recorded by the Minister of Law and Human Rights
surat keputusannya No. AHU-AH.01.03-0238595. in his decision letter No. AHU-AH.01.03-0238595.
Perubahan Anggaran Dasar dilakukan untuk The amendment of the Articles of Association was
meningkatkan modal ditempatkan dan modal made to increase the issued and paid-up capital of
disetor Perusahaan dari Rp447.902.047.850 the Company from Rp447,902,047,850 to
menjadi sebesar Rp448.011.354.300, di mana Rp448,011,354,300, in which the additional paid-up
penambahan setoran sebesar Rp109.306.450 capital amounting to Rp109,306,450 was the result
merupakan hasil pelaksanaan konversi Waran Seri of conversion of Series I Warrants from January 1,
I dari tanggal 1 Januari 2020 sampai dengan 2020 to June 2, 2020.
tanggal 2 Juni 2020.
Pemegang saham Perusahaan menyetujui The shareholders of the Company have approved
penambahan modal ditempatkan dan disetor to increase issued and paid-up capital of the
Perusahaan dengan memberikan (i) Hak Memesan Company by providing (i) Pre-Emptive Rights
Efek Terlebih Dahulu (HMETD), untuk (HMETD), issue a total of 4,450,000 shares with
mengeluarkan sebanyak-banyaknya 4.450.000 nominal value of Rp25 per share, which will be
saham dengan nilai nominal Rp25 per saham, yang conducted after the Company obtain the Letter of
akan dilakukan setelah efektifnya Pernyataan Effectivity and (ii) Warrants, issue a total of
Pendaftaran dan (ii) Waran, untuk mengeluarkan 4,450,000 shares with nominal value of Rp25 per
sebanyak-banyaknya 4.450.000 saham dengan share thus, the total number of shares to be issued
nilai nominal Rp25 per saham, sehingga jumlah by Company is 8,900,000 shares with nominal
saham yang akan diterbitkan Perusahaan adalah value of Rp25 per shares.
sebanyak-banyaknya 8.900.000 saham dengan
nilai nominal Rp25 per saham.
193
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2025 Management Business Company Corporate
360 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
31. MODAL SAHAM (lanjutan) 31. CAPITAL STOCK (continued)
Pada tanggal 31 Agustus 2020, Perusahaan On August 31, 2020, the Company obtained
menerima pernyataan efektif dari Otoritas Jasa effective letter from Financial Services Authority
Keuangan terkait rencana Penawaran Umum related to the Limited Public Offering III to the
Terbatas III kepada para pemegang saham shareholders of the Company through the Issuance
Perusahaan dalam rangka penerbitan Hak of Pre-Emptive Rights (“PUT III HMETD”) with
Memesan Efek Terlebih Dahulu (“PUT III HMETD“) maximum 7,500,000,000 ordinary registered shares
atas maksimum 7.500.000.000 lembar saham biasa or 41.85% of the Company’s issued and paid-up
atau sebesar 41,85% dari modal ditempatkan dan capital with exercise price of Rp250 per share. The
disetor penuh Perusahaan dengan harga Company generated funds amounting to
pelaksanaan Rp250 per lembar saham. Rp1,785,487,886,250 (before deduction of
Perusahaan memperoleh dana sebesar transaction cost) through this PUT III HMETD on
Rp1.785.487.886.250 (sebelum dikurangi biaya the realization of the issuance of 7,141,951,545
transaksi) melalui PUT III HMETD atas realisasi new shares. The Company has received all funds
penerbitan 7.141.951.545 saham baru. Perusahaan from PUT III HMETD in September 2020.
telah menerima seluruh dana dari PUT III HMETD
pada bulan September 2020.
Pada tanggal 5 Oktober 2020, Perusahaan telah On October 5, 2020, The Company has changed
mengubah ketentuan Waran Seri I sebagaimana the clause of Series I Warrants as stated in the
tercantum dalam Akta Perubahan I dan Pernyataan Deed of Amendment I and Restatement of the
Kembali Atas Pernyataan Penerbitan Waran Seri I Statement of Issuance of Series I Warrants in the
Dalam Rangka Penawaran Umum Terbatas II yang event of a Limited Public Offering II which was held
telah dilaksanakan tanggal 20 November 2017 on November 20, 2017 in connection with The
sehubungan dengan Perusahaan telah menerima Company has received letter of effectivity from
pernyataan efektif dari Otoritas Jasa Keuangan Financial Services Authority regarding limited public
terkait rencana Penawaran Umum Terbatas III offering III to the shareholders (“PUT III HMETD”).
kepada para pemegang saham Perusahaan (“PUT Therefore, the adjustment price for Series I
III HMETD”). Dengan demikian, harga penyesuaian Warrants is from Rp675 per share to Rp581 per
Waran Seri I adalah semula Rp675 per saham share effective on October 5, 2020.
menjadi Rp581 per saham efektif per tanggal 5
Oktober 2020.
Anggaran Dasar Perusahaan telah mengalami The Company’s Articles of Association has been
perubahan berdasarkan Akta Notaris No. 27 amended based on Notarial Deed No. 27 dated
tanggal 9 Februari 2021, yang telah diterima dan February 9, 2021, which has been accepted and
dicatat oleh Menteri Hukum dan Hak Asasi Manusia recorded by the Minister of Law and Human Rights
dalam surat No. AHU-AH.01.03-0089920 TH 2021. in letter No. AHU-AH.01.03-0089920 TH 2021. The
Perubahan Anggaran Dasar dilakukan untuk amendment of the Articles of Association was made
meningkatkan modal ditempatkan dan modal to increase the issued and paid up capital of the
disetor Perusahaan dari Rp448.011.354.300 Company from Rp448,011,354,300 to
menjadi sebesar Rp626.560.142.925, di mana Rp626,560,142,925, in which the additional paid-up
penambahan setoran sebesar Rp178.548.788.625 capital amounting to Rp178,548,788,625 was the
merupakan hasil pelaksanaan PUT III dengan result of the exercise of PUT III with HMETD.
HMETD.
Anggaran Dasar Perusahaan telah mengalami The Company’s Articles of Association has been
perubahan berdasarkan Akta Notaris No. 39 amended based on Notarial Deed No. 39 dated
tanggal 15 Februari 2021, yang telah diterima dan February 15, 2021, which has been accepted and
dicatat oleh Menteri Hukum dan Hak Asasi Manusia recorded by the Minister of Law and Human Rights
dalam surat keputusannya No. AHU- in his decision letter No. AHU-AH.01.03-0098327.
AH.01.03-0098327. Perubahan Anggaran Dasar The amendment of the Articles of Association was
dilakukan untuk meningkatkan modal ditempatkan made to increase the issued and paid-up capital of
dan modal disetor Perusahaan dari the Company from Rp626,560,142,925 to
Rp626.560.142.925 menjadi sebesar Rp628,405,781,300, in which the additional paid-up
Rp628.405.781.300, di mana penambahan setoran capital amounting to Rp1,845,638,375 was the
sebesar Rp1.845.638.375 merupakan hasil result of conversion of Series I Warrants from June
pelaksanaan konversi Waran Seri I dari tanggal 2 2, 2020 to December 11, 2020.
Juni 2020 sampai dengan tanggal 11 Desember
2020.
194
Page 363
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 361
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
31. MODAL SAHAM (lanjutan) 31. CAPITAL STOCK (continued)
Pada tanggal 6 Juli 2021, Perusahaan On July 6, 2021, the Company announced its plan
mengumumkan rencana untuk membeli kembali to buy back up to 0.8% of its paid-up capital. For
maksimum sebanyak 0,8% dari jumlah saham this buy-back program, the Company set aside
Perusahaan yang telah diterbitkan. Dana yang funds in the amount of Rp130.5 billion. The buy-
dicadangkan untuk melakukan program pembelian back program will be conducted within a period of
kembali saham ini adalah sebesar Rp130,5 milyar. 18 months from the announcement. During 2021,
Program ini akan dilakukan dalam kurun waktu 18 the Company had repurchased 190,000,000 shares
bulan setelah pengumuman tersebut. Selama tahun for the total cost of Rp95,245,934,189 (equivalent to
2021, Perusahaan telah melakukan pembelian US$6,659,577).
kembali sebanyak 190.000.000 lembar saham
dengan nilai sebesar Rp95.245.934.189 (setara
dengan AS$6.659.577).
Berdasarkan Akta Notaris Leolin Jayayanti, S.H., Based on Notarial Deed of Leolin Jayayanti, S.H.,
M.Kn No. 86 tanggal 30 Agustus 2021, yang telah M.Kn No. 86 dated August 30, 2021, which has
disetujui oleh Menteri Hukum dan Hak Asasi been approved by the Minister of Law and Human
Manusia dalam surat keputusannya No. Rights in his decision letter no.
AHU-0051458.AH.01.02 tanggal 22 September AHU-0051458.AH.01.02 dated September 22,
2021, Perusahaan mengubah Anggaran Dasar 2021, the Company amended its Article of
terkait peningkatan modal dasar dari semula Association to increase the authorized capital from
Rp950.000.000.000 yang terbagi atas Rp950,000,000,000 consisting of 38,000,000,000
38.000.000.000 lembar saham biasa, dengan nilai ordinary registered shares with par value of Rp25,
nominal Rp25, menjadi Rp1.375.000.000.000 yang to become Rp1,375,000,000,000 consisting of
terbagi atas 55.000.000.000 lembar saham biasa, 55,000,000,000 ordinary registered shares with par
dengan nilai nominal Rp25. value of Rp25.
Selama tahun 2025, Perusahaan telah melakukan During 2025, the Company had repurchased its
pembelian kembali atas saham beredar di pasar outstanding shares from the market with amount of
sebesar 67.300.000 lembar saham berdasarkan 67,300,000 shares following Annual General
Rapat Umum Pemegang Saham Tahunan dan Meeting of Shareholders and 398,091,500 shares
398.091.500 lembar saham berdasarkan Surat OJK following OJK Letter S-17/D.04/2025 concerning
S-17/D.04/2025 perihal Kebijakan Pelaksanaan the Policy for Implementing Share Buybacks Issued
Pembelian Kembali Saham yang Dikeluarkan oleh by Public Companies in Significantly Fluctuating
Perusahaan Terbuka dalam Kondisi Pasar yang Market Conditions.
Berfluktuasi secara Signifikan.
Selama tahun 2024, Perusahaan telah melakukan During 2024, the Company had repurchased its
pembelian kembali atas saham beredar di pasar outstanding shares from the market with amount of
sebesar 67.449.900 lembar saham berdasarkan 67,449,900 shares following Annual General
Rapat Umum Pemegang Saham Tahunan. Meeting of Shareholders.
Selama tahun 2025, Perusahaan telah melakukan During 2025, the Company has transferred
transfer 81.234.680 lembar saham (setara dengan 81,234,680 shares (equivalent to US$6,124,263)
AS$6.124.263) yang berasal dari saham treasuri from the Company treasury shares in connection
sehubungan dengan pelaksanaan Program with the execution of the Management Share Award
Pemberian Saham Manajemen dan Program Program and Employee Share Award Program
Pemberian Saham Karyawan (Catatan 32). (Note 32).
Selama tahun 2024, Perusahaan telah melakukan During 2024, the Company has transferred
transfer 102.728.180 lembar saham (setara dengan 102,728,180 shares (equivalent to US$7,300,038)
AS$7.300.038) yang berasal dari saham treasuri from the Company treasury shares in connection
sehubungan dengan pelaksanaan Program with the execution of the Management Share Award
Pemberian Saham Manajemen dan Program Program and Employee Share Award Program
Pemberian Saham Karyawan (Catatan 32). (Note 32).
195
Page 364
2025 Management Business Company Corporate
362 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
32. TAMBAHAN MODAL DISETOR DAN 32. ADDITIONAL PAID-IN CAPITAL AND SHARE-
PEMBAYARAN BERBASIS SAHAM BASED PAYMENT
Tambahan Modal Disetor Additional Paid-In Capital
Akun ini terdiri dari: This account consists of:
2025 2024
Penjualan 22.000.000 saham melalui
penawaran umum perdana kepada Sale of 22,000,000 shares through
masyarakat pada tahun 1994 33.500.000 33.500.000 initial public offering in 1994
Penjualan kembali saham 1.073.325 1.073.325 Resale of shares
Pembagian saham bonus pada tahun
1998 (32.254.579) (32.254.579) Distribution of bonus shares in 1998
Penerbitan 321.730.290 saham
melalui penawaran umum terbatas I Issuance of 321,730,290 shares
kepada pemegang saham pada through rights offering I to
tahun 1999 139.908.988 139.908.988 shareholders in 1999
Penurunan modal disetor dari saham Deduction of additional paid-in capital
treasuri (82.234.950) (55.117.723) on treasury stock
Penjualan kembali saham treasuri 74.812.936 74.812.936 Resale of treasury stock
Pembayaran berbasis saham 37.249.649 31.125.386 Share-based payment
Pembagian saham treasuri sebagai Distribution of treasury shares under
Share Award Program (3.616.355) (3.222.730) Share Award Program
Penerbitan saham melalui PUT II
HMETD, setelah dikurangi biaya Issuance of shares through PUT II
transaksi 183.530.378 183.530.378 HMETD, net of transaction cost
Agio dari pelaksanaan waran (Catatan Premium from exercise of warrants
31) 11.139.284 11.139.284 (Note 31)
Selisih transaksi dengan entitas Difference in transaction with entity
sepengendali 5.696.682 5.696.682 under common control
Penerbitan 7.141.951.545 saham Issuance of 7,141,951,545 shares
melalui PUT III HMETD, setelah through PUT III HMETD, net of
dikurangi biaya transaksi 107.884.145 107.884.145 transaction cost
Jumlah 476.689.503 498.076.092 Total
196
Page 365
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 363
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
32. TAMBAHAN MODAL DISETOR DAN 32. ADDITIONAL PAID-IN CAPITAL AND SHARE-
PEMBAYARAN BERBASIS SAHAM (lanjutan) BASED PAYMENT (continued)
Pembayaran Berbasis Saham Share-Based Payment
Program ini terdiri atas berbagai jenis kompensasi The program involves different types of share-
berbasis saham yang hanya dapat diselesaikan based compensation which can only be settled by
dengan ekuitas (yaitu saham treasuri yang dimiliki equity (i.e. the treasury shares held by the
oleh Perusahaan). Jenis-jenis kompensasi berbasis Company). The types of share-based compensation
saham adalah sebagai berikut: are as follows:
a. Program Pemberian Saham Manajemen a. Management Shares Award Program (MSAP)
(MSAP)
Blocked Share Program adalah program yang Blocked Share Program is applicable program
berlaku untuk Dewan Direksi dan Manajemen for Board of Directors and Senior Management
Senior Perusahaan. Jumlah saham yang of the Company. The number of shares
diberikan akan disesuaikan dalam hal terdapat awarded will be adjusted in case there is rights
hak memesan efek terlebih dahulu (rights issue, bonus shares issue and stock split.
issue), penerbitan saham bonus dan
pemecahan saham.
Unblocked Share Program-executive level Unblocked Share Program-executive level is
berlaku bagi Dewan Direksi, Dewan Komisaris applicable for Board of Directors, Board of
dan Manajemen Senior Perusahaan. Commissioners and Senior Management of the
Company.
Unblocked Share Program-senior management Unblocked Share Program-senior management
level berlaku untuk Manajemen Senior level is applicable for the Company’s senior
Perusahaan yang bekerja di Perusahaan atau management who are working at the Company
diperbantukan pada entitas anak Grup. or seconded to the Group’s subsidiaries.
b. Program Pemberian Saham Karyawan b. Employee Shares Award Program (ESAP)
(ESAP)
ESAP berlaku untuk karyawan Perusahaan dan ESAP is applicable for the eligible employees of
PT Medco E & P Indonesia ("MEPI"), entitas the Company and PT Medco E & P Indonesia
anak yang dimiliki sepenuhnya, yang memenuhi (“MEPI”), wholly owned subsidiary, who are
syarat, baik mereka yang bekerja di working in either the Company or seconded to
Perusahaan atau diperbantukan pada entitas other subsidiaries or affiliates of the Group
anak atau entitas asosiasi Grup. Karyawan based on certain criteria. For the employee to
yang berhak menerima sejumlah saham dari be entitled to receive the number of shares
setiap tahap, setiap karyawan yang berhak available in each tranche, the respective
harus tetap bekerja sampai dengan tanggal employee must remain in service up to each
vesting masing-masing atau karyawan akan vesting date, otherwise, the employee forfeits
kehilangan hak untuk menerimanya. the rights to receive them.
Pemberian saham dapat dilaksanakan pada The shares award will be executed on or after
atau setelah tanggal vesting dengan the vesting date by issuing the treasury shares
menerbitkan saham treasuri yang dimiliki held by the Company to the shares accounts of
Perusahaan ke rekening saham masing-masing each respective person. Accelerating vesting
karyawan. Percepatan penerimaan saham period can be considered if any of following
dapat dipertimbangkan apabila: (1) pensiun, (2) events occurred: (1) retirement, (2) termination
pemutusan hubungan kerja dikarenakan kondisi due to medical condition, (3) death or
kesehatan, (3) kematian atau disabilitas permanent disabilities, (4) change of control,
permanen, (4) perubahan kontrol, dan (5) and (5) employee rationalization.
rasionalisasi karyawan.
197
Page 366
2025 Management Business Company Corporate
364 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
32. TAMBAHAN MODAL DISETOR DAN 32. ADDITIONAL PAID-IN CAPITAL AND SHARE-
PEMBAYARAN BERBASIS SAHAM (lanjutan) BASED PAYMENT (continued)
Informasi lain mengenai pembayaran berbasis Further information relating to share-based
saham adalah sebagai berikut: payment are as follows:
Jumlah penghargaan saham/ Tanggal pemberian/ Tanggal Vesting/
Number of Shares Awarded Grant Date Vesting Date
Program Pemberian Saham Manajemen/Management Share Award Program
Unblocked Share – Executive level
26.006.000 saham/ 9 Januari 2024/ Vest pada tanggal pemberian/
26,006,000 shares January 9, 2024 Vested immediately
14.799.420 saham/ 30 Mei 2024/ Vest pada tanggal pemberian/
14,799,420 shares May 30, 2024 Vested immediately
21.924.000 saham/ 12 Desember 2024/ Vest pada tanggal pemberian/
21,924,000 shares December 12, 2024 Vested immediately
4.082.000 saham/ 12 Desember 2024/ Vest pada tanggal pemberian/
4,082,000 shares December 12, 2024 Vested immediately
23.557.350 saham/ 13 Juni 2025/ Vest tanggal 16 Juni 2025/
23,557,350 shares June 13, 2025 Vested on June 16, 2025
26.006.000 saham/ 23 Desember 2025/ Vest pada tanggal pemberian/
26,006,000 shares December 23, 2025 Vested Immediately
Program Pemberian Saham Manajemen/Management Share Award Program
Unblocked Share – Senior management level
4.234.000 saham/ 9 Januari 2024/ Vest pada tanggal pemberian/
4,234,000 shares January 9, 2024 Vested immediately
3.583.480 saham/ 30 Mei 2024/ Vest pada tanggal pemberian/
3,583,480 shares May 30, 2024 Vested immediately
203.730 saham/ 3 Juli 2024/ Vest pada tanggal pemberian/
203,730 shares July 3, 2024 Vested Immediately
3.276.000 saham/ 12 Desember 2024/ Vest pada tanggal pemberian/
3,276,000 shares December 12, 2024 Vested immediately
958.000 saham/ 12 Desember 2024/ Vest pada tanggal pemberian/
958,000 shares December 12, 2024 Vested immediately
2.552.290 saham/ 13 Juni 2025/ Vest tanggal 16 Juni 2025/
2,552,290 shares June 13, 2025 Vested on June 16, 2025
2.993.340 saham/ 20 Juni 2025/ Vest tanggal 23 Juni 2025/
2,993,340 shares June 20, 2025 Vested on June 23, 2025
4.234.000 saham/ 23 Desember 2025/ Vest pada tanggal pemberian/
4,234,000 shares December 23, 2025 Vested immediately
Program Pemberian Saham Karyawan/Employee Share Award Program
14.996.500 saham/ 1 Juni 2024/ Vest dalam tiga tahapan:/
14,996,500 shares June 1, 2024 Vest in three phases:
Tahap 1: 1 Juni 2025/
Phase 1: June 1, 2025
Tahap 2: 1 Juni 2026/
Phase 2: June 1, 2026
Tahap 3: 1 Juni 2027/
Phase 3: June 1, 2027
16.732.000 saham/ 10 Juli 2025/ Vest dalam tiga tahapan:/
16,732,000 shares July 10, 2025 Vest in three phases:
Tahap 1: 1 Juni 2026/
Phase 1: June 1, 2026
Tahap 2: 1 Juni 2027/
Phase 2: June 1, 2027
Tahap 3: 1 Juni 2028/
Phase 3: June 1, 2028
198
Page 367
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 365
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
32. TAMBAHAN MODAL DISETOR DAN 32. ADDITIONAL PAID-IN CAPITAL AND SHARE-
PEMBAYARAN BERBASIS SAHAM (lanjutan) BASED PAYMENT (continued)
Informasi lain mengenai pembayaran berbasis Further information relating to share-based
saham adalah sebagai berikut: (lanjutan) payment are as follows: (continued)
Beban yang diakui pada tahun pelaporan adalah The expenses recognized for each of the year are
sebagai berikut: as follows:
2025 2024
Program Pemberian Saham
Manajemen Management Share Award Program
Unblocked share executive level 4.083.707 5.091.208 Unblocked share executive level
Unblocked share senior Unblocked share senior
management level 814.719 949.104 management level
Program Pemberian Saham Karyawan 1.225.837 1.259.726 Employee Share Award Program
Jumlah 6.124.263 7.300.038 Total
33. DAMPAK PERUBAHAN TRANSAKSI EKUITAS 33. EFFECTS OF CHANGES IN EQUITY
ENTITAS ANAK/ENTITAS ASOSIASI TRANSACTIONS OF SUBSIDIARIES/
ASSOCIATES
Pada tanggal 31 Desember 2025 dan 2024, akun As of December 31, 2025 and 2024, this account
ini terutama merupakan selisih dari penambahan mainly represents difference in additional ownership
kepemilikan kepentingan non-pengendali dan of non-controlling interest and changes in equity
perubahan transaksi ekuitas entitas anak/asosiasi. transactions of subsidiaries/associates.
199
Page 368
2025 Management Business Company Corporate
366 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
34. PENDAPATAN 34. REVENUES
Di bawah ini adalah disagregasi pendapatan grup Set out below is the disaggregation of the Group’s
dari kontrak dengan pelanggan dan sewa dan total revenue from contracts with customers and
pendapatan bunga untuk tahun yang berakhir pada total lease and finance income for the years ended
tanggal 31 Desember 2025 dan 2024: December 31, 2025 and 2024:
a. Berdasarkan tipe barang atau jasa a. By type of good or service
2025
Kontrak
operasi dan Jumlah
Kontrak jasa penjualan
Kontrak penjualan pelayanan/ Kontrak dari kontrak/ Sewa dan
penjualan listrik/Sales Operation penjualan Total pendapatan
minyak dan Kontrak of and jasa lainnya/ Revenue bunga/
gas bumi/Oil konstruksi/ electricity maintenance Other from contract Lease and
and gas Construction power service service with finance
contract contract contract contract contract customers income Jumlah/Total
Pendapatan dari kontrak Revenue from contracts
dengan pelanggan with customers
Kontrak penjualan Oil and gas sales
minyak dan gas bumi 2.189.485.678 – – – – 2.189.485.678 – 2.189.485.678 contract
Kontrak konstruksi – 16.777.850 – – – 16.777.850 – 16.777.850 Construction contract
Sales of electricity power
Kontrak penjualan listrik – – 73.759.895 – – 73.759.895 – 73.759.895 contracts
Operation and
Kontrak operasi dan jasa maintenance
pelayanan – – – 38.605.338 – 38.605.338 – 38.605.338 contracts
Kontrak penjualan jasa
lainnya – – – – 24.848.155 24.848.155 – 24.848.155 Other service contract
Jumlah pendapatan dari Total revenue from
kontrak 2.189.485.678 16.777.850 73.759.895 38.605.338 24.848.155 2.343.476.916 – 2.343.476.916 contracts
Lease of electricity
Sewa pembangkit listrik – – – – – – 10.931.050 10.931.050 power plant
Pendapatan bunga dari Finance income from
jasa konsesi – – – – – – 37.541.923 37.541.923 service concession
Pendapatan bunga dari Finance income from
sewa – – – – – – 3.086.080 3.086.080 lease
Jumlah pendapatan sewa Total lease and finance
dan bunga – – – – – – 51.559.053 51.559.053 income
Jumlah 2.189.485.678 16.777.850 73.759.895 38.605.338 24.848.155 2.343.476.916 51.559.053 2.395.035.969 Total
200
Page 369
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 367
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
34. PENDAPATAN (lanjutan) 34. REVENUES (continued)
Di bawah ini adalah disagregasi pendapatan grup Set out below is the disaggregation of the Group’s
dari kontrak dengan pelanggan dan sewa dan total revenue from contracts with customers and
pendapatan bunga untuk tahun yang berakhir pada total lease and finance income for the year ended
tanggal 31 Desember 2025 dan 2024: (lanjutan) December 31, 2025 and 2024: (continued)
a. Berdasarkan tipe barang atau jasa (lanjutan) a. By type of good or service (continued)
2024
Kontrak
operasi dan Jumlah
Kontrak jasa penjualan
Kontrak penjualan pelayanan/ Kontrak dari kontrak/ Sewa dan
penjualan listrik/Sales Operation penjualan Total pendapatan
minyak dan Kontrak of and jasa lainnya/ Revenue bunga/
gas bumi/Oil konstruksi/ electricity maintenance Other from contract Lease and
and gas Construction power service service with finance
contract contract contract contract contract customers income Jumlah/Total
Pendapatan dari kontrak Revenue from contracts
dengan pelanggan with customers
Kontrak penjualan Oil and gas sales
minyak dan gas bumi 2.178.006.390 – – – – 2.178.006.390 – 2.178.006.390 contract
Kontrak konstruksi – 80.607.801 – – – 80.607.801 – 80.607.801 Construction contract
Sales of electricity
Kontrak penjualan listrik – – 47.046.274 – – 47.046.274 – 47.046.274 power contracts
Operation and
Kontrak operasi dan jasa maintenance
pelayanan – – – 29.137.872 – 29.137.872 – 29.137.872 contracts
Kontrak penjualan jasa
lainnya – – – – 14.612.380 14.612.380 – 14.612.380 Other service contract
Jumlah pendapatan dari Total revenue from
kontrak 2.178.006.390 80.607.801 47.046.274 29.137.872 14.612.380 2.349.410.717 – 2.349.410.717 contracts
Lease of electricity
Sewa pembangkit listrik – – – – – – 10.025.500 10.025.500 power plant
Pendapatan bunga dari Finance income from
jasa konsesi – – – – – – 37.807.226 37.807.226 service concession
Pendapatan bunga dari Finance income from
sewa – – – – – – 1.947.112 1.947.112 lease
Jumlah pendapatan sewa Total lease and finance
dan bunga – – – – – – 49.779.838 49.779.838 income
Jumlah 2.178.006.390 80.607.801 47.046.274 29.137.872 14.612.380 2.349.410.717 49.779.838 2.399.190.555 Total
201
Page 370
2025 Management Business Company Corporate
368 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
34. PENDAPATAN (lanjutan) 34. REVENUES (continued)
b. Berdasarkan pasar geografis b. By geographic market
2025
Kontrak
operasi dan
jasa Total
Kontrak Kontrak pelayanan/ Kontrak penjualan Sewa dan
penjualan penjualan Operation penjualan dari kontrak/ pendapatan
minyak dan Kontrak listrik/Sales and jasa lainnya/ Total bunga/
gas bumi/Oil konstruksi/ of electricity maintenance Other revenue from Lease and
and gas Construction power service service contract with finance
contract contract contract contract contract customers income Jumlah/Total
Pasar Geografis Geographic Market
Indonesia 881.930.308 16.777.850 73.759.895 38.605.338 24.848.155 1.035.921.546 51.382.049 1.087.303.595 Indonesia
Luar negeri 1.307.555.370 – – – – 1.307.555.370 177.004 1.307.732.374 Foreign
Jumlah 2.189.485.678 16.777.850 73.759.895 38.605.338 24.848.155 2.343.476.916 51.559.053 2.395.035.969 Total
2024
Kontrak
operasi dan
jasa Kontrak Total
Kontrak Kontrak pelayanan/ penjualan penjualan Sewa dan
penjualan penjualan Operation jasa dari kontrak/ pendapatan
minyak dan Kontrak listrik/Sales and lainnya/ Total revenue bunga/
gas bumi/Oil konstruksi/ of electricity maintenance Other from contract Lease and
and gas Construction power service service with finance
contract contract contract contract contract customers income Jumlah/Total
Pasar Geografis Geographic Market
Indonesia 894.230.596 80.607.801 47.046.274 29.137.872 14.612.380 1.065.634.923 49.645.276 1.115.280.199 Indonesia
Luar negeri 1.283.775.794 – – – – 1.283.775.794 134.562 1.283.910.356 Foreign
Jumlah 2.178.006.390 80.607.801 47.046.274 29.137.872 14.612.380 2.349.410.717 49.779.838 2.399.190.555 Total
Waktu pengakuan pendapatan didasarkan pada Timing of revenue recognition is based on the
pemenuhan kewajiban kinerja, baik pada titik satisfaction of the performance obligation, either
waktu tertentu atau sepanjang waktu. at a point in time or over time. Generally, the
Umumnya, pendapatan dari kontrak dengan revenue from contracts with customers on oil
pelanggan atas minyak dan gas dan penjualan and gas and sales of electricity power are
tenaga listrik diakui pada suatu waktu, recognized at a point in time, while construction,
sedangkan konstruksi dan operasi dan operation and maintenance and other services
pemeliharaan serta jasa lainnya diakui dari are recognized over time.
sepanjang waktu.
Di bawah ini adalah rekonsiliasi pendapatan Set out below is reconciliation of the revenue
dari kontrak dengan pelanggan dengan jumlah from contracts with customers with the amounts
yang diungkapkan dalam informasi segmen disclosed in the segment information for the
untuk tahun yang berakhir pada tanggal 31 year ended December 31, 2025 and 2024:
Desember 2025 dan 2024:
2025
Kontrak Total
operasi dan penjualan
jasa dari kontrak/
Kontrak Kontrak pelayanan/ Kontrak Total Sewa dan
penjualan penjualan Operation penjualan revenue pendapatan
minyak dan Kontrak listrik/Sales and jasa lainnya/ from bunga/
gas bumi/Oil konstruksi/ of electricity maintenance Other contract Lease and
and gas Construction power service service with finance Jumlah/
contract contract contract contract contract customers income Total
Pelanggan Customers
Pelanggan eksternal 2.189.485.678 16.777.850 73.759.895 38.605.338 24.848.155 2.343.476.916 51.559.053 2.395.035.969 External customers
Antar segmen 344.084.562 – 11.654 – 34.543.174 378.639.390 – 378.639.390 Inter-segment
Jumlah 2.533.570.240 16.777.850 73.771.549 38.605.338 59.391.329 2.722.116.306 51.559.053 2.773.675.359 Total
Penyesuaian dan eliminasi Inter-segment adjustment
antar segmen (344.084.562) – (11.654) – (34.543.174) (378.639.390) – (378.639.390) and elimination
Jumlah 2.189.485.678 16.777.850 73.759.895 38.605.338 24.848.155 2.343.476.916 51.559.053 2.395.035.969 Total
202
Page 371
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 369
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
34. PENDAPATAN (lanjutan) 34. REVENUES (continued)
b. Berdasarkan pasar geografis (lanjutan) b. By geographic market (continued)
2024
Kontrak
operasi dan
jasa Total
Kontrak Kontrak pelayanan/ Kontrak penjualan Sewa dan
penjualan penjualan Operation penjualan dari kontrak/ pendapatan
minyak dan Kontrak listrik/Sales and jasa lainnya/ Total revenue bunga/
gas bumi/Oil konstruksi/ of electricity maintenance Other from contract Lease and
and gas Construction power service service with finance
contract contract contract contract contract customers income Jumlah/Total
Pelanggan Customers
Pelanggan eksternal 2.178.006.390 80.607.801 47.046.274 29.137.872 14.612.380 2.349.410.717 49.779.838 2.399.190.555 External customers
Antar segmen 337.100.074 – 12.116 – 20.953.518 358.065.708 – 358.065.708 Inter-segment
Jumlah 2.515.106.464 80.607.801 47.058.390 29.137.872 35.565.898 2.707.476.425 49.779.838 2.757.256.263 Total
Inter-segment
Penyesuaian dan eliminasi adjustment and
antar segmen (337.100.074) – (12.116) – (20.953.518) (358.065.708) – (358.065.708) elimination
Jumlah 2.178.006.390 80.607.801 47.046.274 29.137.872 14.612.380 2.349.410.717 49.779.838 2.399.190.555 Total
c. Berdasarkan pelanggan c. By Customer
2025 2024
Pihak berelasi Related parties
PT Medco Daya Natuna 2.220.782 649.596 PT Medco Daya Natuna
PT Bahtera Daya Makmur 263.098 98.704 PT Bahtera Daya Makmur
PT Medco Daya Makmur 72.130 10.476 PT Medco Daya Makmur
PT Medco Daya Energi Nusantara – 18.595 PT Medco Daya Energi Nusantara
Sub-jumlah 2.556.010 777.371 Sub-total
Pihak ketiga Third parties
Pelanggan dalam negeri 1.084.747.585 1.114.502.828 Local customers
Pelanggan luar negeri 1.307.732.374 1.283.910.356 Foreign customers
Sub-jumlah 2.392.479.959 2.398.413.184 Sub-total
Jumlah 2.395.035.969 2.399.190.555 Total
Rincian pendapatan dari pelanggan yang The details of revenues from customers which
melebihi 10% dari jumlah pendapatan yang exceeded 10% of the total revenues for each
dilaporkan berasal dari: year are as follows:
2025 2024
% Terhadap % Terhadap
Total Total
Pendapatan/ Pendapatan/
Jumlah/ % of Total Jumlah/ % of Total
Amount Revenue Amount Revenue
Shell International Eastern Shell International Eastern
Trading Company 417.282.005 17,42% 278.717.634 11,62% Trading Company
Glencore Singapore Pte. Ltd. 325.547.831 13,59% 415.739.137 17,33% Glencore Singapore Pte. Ltd.
PT Perusahaan Gas Negara, PT Perusahaan Gas Negara,
Tbk 267.386.326 11,16% 267.842.921 11,16% Tbk
Jumlah 1.010.216.162 962.299.692 Total
203
Page 372
2025 Management Business Company Corporate
370 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
35. BEBAN POKOK PENDAPATAN DAN BIAYA 35. COST OF REVENUES AND OTHER DIRECT
LANGSUNG LAINNYA COSTS
Grup mempunyai beban-beban sebagai berikut The Group incurred the following costs to operate,
dalam mengoperasikan, memproses dan menjual process and sell its products and services:
produk dan jasanya:
a. Biaya Produksi dan Lifting a. Production and Lifting Costs
Akun ini terdiri dari: This account consists of:
2025 2024
Biaya overhead operasi lapangan 198.943.812 192.958.380 Field operations overhead
Operasi dan pemeliharaan 164.579.476 133.896.142 Operations and maintenance
Biaya kontrak minyak dan gas bumi 61.969.345 59.177.609 Cost of oil and gas contracts
Pendukung operasi 27.457.375 19.477.648 Operational support
Pipeline cost and transportation
Biaya pipa dan transportasi 17.535.095 11.881.812 fees
Jumlah 470.485.103 417.391.591 Total
b. Beban Pokok Penjualan Tenaga Listrik dan Jasa b. Cost of Electric Power Sales and Related
Terkait Lainnya Services
Akun ini terdiri dari: This account consists of:
2025 2024
Biaya produksi listrik 40.297.997 27.073.623 Electricity production costs
Operasi dan pemeliharaan 16.777.106 15.009.562 Operations and maintenance
Biaya konstruksi 16.131.528 73.055.026 Construction costs
Gaji dan imbalan 8.441.787 7.276.995 Salaries and benefits
Jumlah 81.648.418 122.415.206 Total
c. Penyusutan, Deplesi dan Amortisasi c. Depreciation, Depletion and Amortization
Akun penyusutan, deplesi dan amortisasi, This account represents depreciation, depletion
adalah sebagai berikut: and amortization for the following:
2025 2024
Operasi minyak dan gas bumi 535.903.644 537.201.940 Oil and gas operations
Tenaga listrik 6.075.056 6.051.572 Electric power
Kontrak lainnya dan jasa terkait 5.524.376 4.272.868 Other contracts and related services
Jumlah 547.503.076 547.526.380 Total
204
Page 373
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 371
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
35. BEBAN POKOK PENDAPATAN DAN BIAYA 35. COST OF REVENUES AND OTHER DIRECT
LANGSUNG LAINNYA (lanjutan) COSTS (continued)
d. Beban Eksplorasi d. Exploration Expenses
Akun ini terdiri dari: This account consists of:
2025 2024
Sumur kering 7.829.695 – Dry hole
Overhead eksplorasi 6.238.782 6.155.824 Exploration overhead
Biaya geologi dan geofisika 52.564 1.214.010 Geological and Geophysical
Jumlah 14.121.041 7.369.834 Total
e. Biaya Pembelian Minyak Mentah e. Cost of Crude Oil Purchases
Akun ini terdiri dari biaya pembelian minyak This account consists of cost of crude oil
mentah oleh Grup dari SKK Migas, PT purchased by the Group from SKK Migas, PT
Pertamina Hulu Energi Tomori Sulawesi, PT Pertamina Hulu Energi Tomori Sulawesi, PT
Pertamina Hulu Energi Jambi Merang, PT Pertamina Hulu Energi Jambi Merang, PT
Pertamina EP, PT Medco Daya Abadi Lestari, Pertamina EP, PT Medco Daya Abadi Lestari
dan Oman Oil Company Exploration and and Oman Oil Company Exploration and
Production (OOCEP) PXF B.V. Production (OOCEP) PXF B.V.
Tidak terdapat pembelian dari satu pihak yang There were no purchases from a single vendor
melebihi 10% dari pendapatan untuk tahun which exceeded 10% of the total revenues for
yang berakhir pada tanggal 31 Desember 2025 the year ended December 31, 2025 and 2024.
dan 2024. d
36. BEBAN PENJUALAN, UMUM, DAN 36. SELLING, GENERAL AND ADMINISTRATIVE
ADMINISTRASI EXPENSES
Akun ini terdiri dari: This account consists of:
2025 2024
Umum dan administrasi General and administrative
Salaries, wages and other employee
Gaji, upah dan imbalan kerja lainnya 135.516.363 131.188.382 benefits
Honorarium profesional 17.144.823 17.376.525 Professional fees
Jasa 12.132.578 9.516.824 Service
Sewa 10.440.718 9.967.527 Rental
Perawatan dan perbaikan 8.505.372 5.289.956 Repairs and maintenance
Penyusutan (Catatan 15 dan 16) 7.987.490 7.729.735 Depreciation (Notes 15 and 16)
Beban kontrak 6.436.191 5.929.924 Contract charges
Asuransi 6.379.943 4.234.618 Insurance
Pendidikan 1.954.495 2.237.099 Education
Lain-lain (dibawah AS$1.000.000) 9.421.339 13.097.400 Others (each below US$1,000,000)
Sub-jumlah 215.919.312 206.567.990 Sub-total
Penjualan Selling
Iklan dan promosi 5.622.443 4.760.464 Advertising and promotions
Perjalanan dinas 5.090.723 5.434.499 Business travel
Beban jamuan 551.118 90.837 Entertainment
Beban ekspor 430.746 36.709 Export expenses
Sub-jumlah 11.695.030 10.322.509 Sub-total
Jumlah 227.614.342 216.890.499 Total
205
Page 374
2025 Management Business Company Corporate
372 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
37. PENDAPATAN DAN BEBAN LAIN-LAIN 37. OTHER INCOME AND OTHER EXPENSES
a. Pendapatan bunga a. Interest income
Pada tahun 2025, pendapatan bunga terutama In 2025, interest income mostly represents
merupakan pendapatan bunga dari uang muka interest income from advances pertaining to
yang dikenakan bunga terkait dengan transaksi crude oil transaction and interests from banks
minyak mentah, bunga bank dan deposito. and deposit.
Pada tahun 2024, pendapatan bunga terutama In 2024, interest income mostly represents
merupakan pendapatan bunga dari pinjaman interest income from shareholder loan of
pemegang saham Transasia Pipeline Company Pvt. Transasia Pipeline Company Pvt. Ltd. (Note
Ltd. (Catatan 14). Pendapatan bunga juga 14). Interest income also includes interest from
termasuk pendapatan bunga dari uang muka yang advances pertaining to crude oil transaction and
dikenakan bunga terkait dengan transaksi minyak interests from banks and deposit.
mentah, bunga bank dan deposito.
b. Pendapatan lain-lain b. Other income
Akun ini terdiri dari: This account consists of:
2025 2024
Imbalan manajemen kepada
rekanan PSC 7.670.937 7.700.141 Management fee to PSC partners
Keuntungan atas pembaruan
kontrak piutang sewa Gain on contract renewal of finance
pembiayaan 3.945.765 – lease receivables
Klaim asuransi 1.572.580 2.346.262 Insurance claim
Keuntungan dari pencairan obligasi 12.699 273.331 Gain on bond redemption
Pembalikan atas provisi dan akrual – 4.436.291 Reversal provision and accrual
Keuntungan dari selisih nilai tukar – 7.660.794 Gain on foreign exchange
Lain-lain 8.370.232 6.037.981 Others
Jumlah 21.572.213 28.454.800 Total
c. Beban lain-lain c. Other expenses
Akun ini terdiri dari: This account consists of:
2025 2024
Provisi dan Penghapusan PPN (8.260.552) (7.339.925) Provision and Write-off VAT
Provisi atas persediaan usang dan Provision for obsolete and declining
penurunan nilai persediaan (6.680.247) – inventory value
Biaya penawaran tender (6.179.442) – Tender offer costs
Penalti dan pajak non-korporasi (4.670.750) – Penalty and non-corporate taxes
Penelitian dan pengembangan bisnis (2.806.217) (5.215.944) Business research and development
Kerugian dari selisih nilai tukar (2.720.038) – Loss on foreign exchange
Kerugian dari surat berharga yang Loss on unrealised marketable
belum direalisasikan (2.512.823) – securities
Lain-lain (4.539.584) (8.581.027) Others
Jumlah (38.369.653) (21.136.896) Total
206
Page 375
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 373
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN 38. TAXATION
a. Beban pajak Perusahaan dan entitas anak a. Income tax expense of the Company and
terdiri dari sebagai berikut: subsidiaries consists of the following:
2025 2024
Operasi yang dilanjutkan Continuing Operations
Beban pajak kini Current income tax expense
Entitas anak Subsidiaries
Beban pajak kini (401.438.492) (415.024.628) Current income tax expense
Penghasilan pajak 77.502.351 79.002.436 Tax income
Sub-jumlah (323.936.141) (336.022.192) Sub-total
Manfaat pajak tangguhan Deferred tax benefit
Perusahaan 7.075.828 5.944.275 The Company
Entitas anak 26.291.418 40.738.184 Subsidiaries
Sub-jumlah 33.367.246 46.682.459 Sub-total
Jumlah Beban Pajak dari Operasi Total Income Tax Expense
yang dilanjutkan (290.568.895) (289.339.733) Continuing Operations
b. Pajak Kini b. Current Income Tax
Rekonsiliasi antara laba sebelum beban pajak A reconciliation between profit before income
penghasilan dari operasi yang dilanjutkan tax expense from continuing operations per
menurut laporan laba rugi dan penghasilan consolidated statements of profit or loss and
komprehensif lain konsolidasian dan laba kena other comprehensive income and the
pajak (rugi fiskal) Perusahaan adalah sebagai Company’s taxable income (tax loss) is as
berikut: follows:
2025 2024
Laba konsolidasian sebelum beban Consolidated profit before income
pajak penghasilan dari operasi tax expense from continuing
yang dilanjutkan 404.004.521 671.050.389 operations
Penyesuaian konsolidasi 15.377.126 4.584.354 Consolidation adjustment
Laba sebelum beban pajak Profit before income tax expense of
penghasilan entitas anak (499.419.651) (630.048.484) subsidiaries
Laba (rugi) sebelum pajak - Profit (loss) before income tax - the
Perusahaan (80.038.004) 45.586.259 Company
Pendapatan dividen dari entitas
Dividend income from subsidiaries
anak 76.991.200 157.670.668
Jumlah laba (rugi) sebelum pajak - Total profit (loss) before income tax -
Perusahaan (3.046.804) 203.256.927 the Company
207
Page 376
2025 Management Business Company Corporate
374 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
b. Pajak Kini (lanjutan) b. Current Income Tax (continued)
Rekonsiliasi antara laba sebelum beban pajak A reconciliation between profit before income
penghasilan dari operasi yang dilanjutkan tax expense from continuing operations per
menurut laporan laba rugi dan penghasilan consolidated statements of profit or loss and
komprehensif lain konsolidasian dan laba kena other comprehensive income and the
pajak (rugi fiskal) Perusahaan adalah sebagai Company’s taxable income (tax loss) is as
berikut: (lanjutan) follows: (continued)
2025 2024
Perbedaan temporer Temporary differences
Keuntungan surat berharga yang Unrealized Gain on marketable
belum direalisasikan – (27.707) securities
Pembayaran berbasis saham 1.485.912 (3.747.584) Share-based payment
Imbalan kerja 4.435.963 987.017 Employee benefits
Penyusutan 2.787.135 2.073.347 Depreciation
Bagian laba dari entitas asosiasi (55.862.498) (136.083.030) Share of net income of associates
Gain on Fair Value of Financial
Laba nilai wajar atas aset keuangan – (12.132.000) Assets
Lain-lain (1.611.118) – Others
Perbedaan tetap Permanent differences
Pendapatan bunga 78.727.849 65.185.301 Interest income
Beban yang tidak dapat dikurangkan 12.489.853 13.960.778 Non-deductible expenses
Pendapatan yang dikenai pajak final (5.438.293) (4.300.810) Income subjected to final income tax
Pendapatan dividen dari entitas
anak (76.991.200) (157.670.668) Dividend income from subsidiaries
Divestasi entitas anak (21.121.493) – Divestment of a Subsidiary
Lain-lain (1.444.532) (2.022.106) Others
Rugi fiskal tahun berjalan -
Perusahaan (65.589.226) (30.520.535) Tax loss for the year - the Company
Rugi fiskal tahun lalu (81.254.441) (90.508.536) Prior year tax losses
Penyesuaian terkait Tahun Pajak Adjustment related to 2022 Fiscal
2022 – 39.774.630 Tax
Rugi fiskal kumulatif - Perusahaan (146.843.667) (81.254.441) Accumulated tax loss - the Company
Dikurangi pembayaran Pajak
Penghasilan di muka pasal 23 dan Less prepayment of income tax
25 51.256 18.025 article 23 and 25
Kelebihan Pajak Penghasilan Overpayment of Corporate
Badan 51.256 18.025 Income Tax
Jumlah rugi fiskal Perusahaan untuk tahun 2025 The amount of the Company’s tax loss for the
sesuai dengan perhitungan di atas akan year 2025, as stated in the above, will be
dilaporkan oleh Perusahaan dalam Surat reported by the Company in its income tax
Pemberitahuan Tahunan (“SPT”) PPh badan ke return (“SPT”) to be submitted to the Tax Office.
Kantor Pajak.
Jumlah rugi fiskal Perusahaan untuk tahun The amount of the Company’s tax loss for the
2024, sesuai dengan perhitungan di atas telah year 2024, as stated in the above, has been
dilaporkan oleh Perusahaan dalam Surat reported by the Company in its 2024 income tax
Pemberitahuan Tahunan (“SPT”) PPh badan return ("SPT") submitted to the Tax Office.
tahun 2024 ke Kantor Pajak.
208
Page 377
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 375
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
b. Pajak Kini (lanjutan) b. Current Income Tax (continued)
Berdasarkan Surat Ketetapan Pajak tahun Based on 2023 Tax Assessment Letter, in 2025,
2023, pada tahun 2025, Perusahaan telah the Company has recorded adjustment of
mencatat penyesuaian atas laba/rugi fiskal, taxable income balance for 2023 tax period to
sehingga laba fiskal untuk tahun 2023 menjadi US$26,804,256.
sebesar AS$26.804.256.
Berdasarkan Surat Ketetapan Pajak tahun Based on 2022 Tax Assessment Letter, in 2024,
2022, pada tahun 2024, Perusahaan telah the Company has recorded adjustment of
mencatat penyesuaian atas laba/rugi fiskal, taxable income balance for 2022 tax period to
sehingga laba fiskal untuk tahun 2022 menjadi US$23,929,650. Furthermore, the Company
sebesar AS$23.929.650. Selain itu, Perusahaan also received Tax Underpayment Assessment
juga menerima Surat Ketetapan Pajak Kurang Letter (SKPKB) for Value Added Tax (VAT) of
Bayar (SKPKB) untuk Pajak Pertambahan Nilai August 2022 Tax Period amounting to
(PPN) untuk masa pajak Agustus 2022, di mana Rp3,927,000 which paid on April 29, 2024.
terdapat jumlah kurang bayar Perusahaan
sebesar Rp3.927.000 yang dibayarkan pada
tanggal 29 April 2024.
c. Pajak Tangguhan c. Deferred Tax
2025
(Dibebankan)
Aset/Liabilitas pajak Dikreditkan ke
tangguhan atas laporan laba rugi
entitas anak yang dan penghasilan
diklasifikasikan komprehensif
sebagai milik untuk lain
dijual dan operasi konsolidasian/
yang dihentikan/ (Charged)
Deferred tax assets/ Credited to
liabilities of consolidated
subsidiaries statement of
Penambahan classified as held for profit or other 31 Desember
dari akuisisi/ sale and loss and 2025/
1 Januari 2025/ Addition from discontinued comprehensive December 31,
January 1, 2025 acquisition operations income 2025
Aset Pajak Tangguhan Deferred Tax Assets
Biaya yang belum
terpulihkan 111.769.575 – – (2.433.706) 109.335.869 Unrecovered costs
Liabilitas sewa pembiayaan 7.747.348 – – 7.456.393 15.203.741 Finance lease liabilities
Property, plant and
Aset tetap 9.273.730 – – (812.288) 8.461.442 equipment
Asset abandonment and
Liabilitas pembongkaran site restoration
dan restorasi area 10.857.336 – – (3.632.989) 7.224.347 obligations
Liabilitas imbalan kerja 3.374.894 – – (1.678.943) 1.695.951 Employee benefit liabilities
Rugi fiskal yang dibawa ke
masa depan – – – 713.467 713.467 Tax loss carryforward
Keuntungan/kerugian mata
uang asing yang belum Unrealized gain/loss of
direalisasi 970.443 – – (352.492) 617.951 foreign exchange
Persediaan 71.932 – – 362.035 433.967 Inventories
Liabilitas kontrak 222.948 – – (15.570) 207.378 Contract liabilities
Penyesuaian nilai wajar Fair value adjustment of
investasi pada entitas investment in
anak/entitas asosiasi 8.555.480 – – (8.555.480) – subsidiaries/ associate
Piutang Sewa Pembiayaan (5.003.746) – – (190.520) (5.194.266) Finance lease receivables
Aset minyak dan gas bumi (7.145.589) – – (5.570.846) (12.716.435) Oil and gas properties
Aset Hak Guna (7.582.177) – – (7.053.751) (14.635.928) Right-of-use assets
Lainnya (2.546.754) – – 13.350 (2.533.404) Others
Aset Pajak Tangguhan - Net Deferred Tax Assets -
Grup - Neto 130.565.420 – – (21.751.340) 108.814.080 the Group
209
Page 378
2025 Management Business Company Corporate
376 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
c. Pajak Tangguhan (lanjutan) c. Deferred Tax (continued)
2025
(Dibebankan)
Aset/Liabilitas pajak Dikreditkan ke
tangguhan atas laporan laba rugi
entitas anak yang dan penghasilan
diklasifikasikan komprehensif
sebagai milik untuk lain
dijual dan operasi konsolidasian/
yang dihentikan/ (Charged)
Deferred tax assets/ Credited to
liabilities of consolidated
subsidiaries statement of
Penambahan classified as held for profit or other 31 Desember
dari akuisisi/ sale and loss and 2025/
1 Januari 2025/ Addition from discontinued comprehensive December 31,
January 1, 2025 acquisition operations income 2025
Liabilitas Pajak Deferred Tax Liabilities
Tangguhan
Aset minyak dan gas bumi (653.266.123) (153.378.878) – 19.900.789 (786.744.212) Oil and gas properties
Aset keuangan konsesi (74.906.276) – – 1.171.012 (73.735.264) Concession financial assets
Piutang sewa pembiayaan (56.347.463) – – 778.635 (55.568.828) Finance lease receivables
Aset Hak Guna (25.781.072) – – (10.666.371) (36.447.443) Right-of-use assets
Penyesuaian nilai wajar Fair value adjustment of
investasi pada entitas investment in
anak/entitas asosiasi (75.864.708) – – 39.541.476 (36.323.232) subsidiaries/ associate
Instrumen lindung nilai (11.896.013) – – 7.789.018 (4.106.995) Hedging instruments
Dividen anak perusahaan
yang belum Subsidiary dividends that
terdistribusikan (8.468.233) – – 8.468.233 – have not been distributed
Pembayaran berbasis
saham (30.350) – – 30.350 – Share-based payment
Beda temporer atas
Investasi pada entitas Temporary difference from
anak dan entitas asosiasi investment in subsidiaries
yang dicatat sebagai aset which were classified as
tersedia untuk dijual 4.937 – – (4.937) – assets held for sale
Kerugian kredit
ekspektasian 2.967 – – 66.067 69.034 Expected credit loss
Asset abandonment and
Liabilitas pembongkaran site restoration
dan restorasi area 3.602.385 (1.466.972) – 131.289 2.266.702 obligations
Persediaan 1.062.679 – – 1.718.566 2.781.245 Inventories
Liabilitas kontrak 2.202.646 – – 1.029.954 3.232.600 Contract liabilities
Keuntungan/kerugian mata
uang asing yang belum Unrealized gain/loss of
direalisasi 2.283.358 – – 1.057.326 3.340.684 foreign exchange
Liabilitas imbalan kerja 10.219.990 123.935 – (3.924.212) 6.419.713 Employee benefit liabilities
Rugi fiskal yang dibawa ke
masa depan 12.094.579 – – 883.084 12.977.663 Tax loss carry forward
Biaya yang belum
terpulihkan 61.162.516 – – (9.825.908) 51.336.608 Unrecovered costs
Liabilitas sewa pembiayaan 77.036.865 – – (15.834.587) 61.202.278 Finance lease liabilities
Property, plant and
Aset tetap 49.411.892 – – 17.972.042 67.383.934 equipment
Lainnya 999.306 – – 974.437 1.973.743 Others
Liabilitas Pajak
Tangguhan - Grup - Net Deferred Tax liabilities
Neto (686.476.118) (154.721.915) – 61.256.263 (779.941.770) - the Group
Jumlah Beban Pajak Total Deferred Tax
Tangguhan Grup 39.504.923 Expense of the Group
Beban Pajak Tangguhan Deferred Tax Expense
dari penghasilan from other
komprehensif lain (2.078.694) comprehensive income
Dampak selisih kurs (477.083) Effect of foreign exchange
Beban Pajak Tangguhan
pada aset dimiliki untuk Reclassification to asset
dijual (3.581.900) held for sale
Beban Pajak Tangguhan Net Deferred Tax Expense
Neto dari Operasi yang from Continuing
Dilanjutkan 33.367.246 Operations
210
Page 379
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 377
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
c. Pajak Tangguhan (lanjutan) c. Deferred Tax (continued)
2024
(Dibebankan)
Aset/Liabilitas pajak Dikreditkan ke
tangguhan atas laporan laba rugi
entitas anak yang dan penghasilan
diklasifikasikan komprehensif
sebagai milik untuk lain
dijual dan operasi konsolidasian/
yang dihentikan/ (Charged)
Deferred tax assets/ Credited to
liabilities of consolidated
subsidiaries statement of
Penambahan classified as held for profit or other 31 Desember
dari akuisisi/ sale and loss and 2024/
1 Januari 2024/ Addition from discontinued comprehensive December 31,
January 1, 2024 acquisition operations income 2024
Aset Pajak Tangguhan Deferred Tax Assets
Biaya yang belum
terpulihkan 118.391.579 – (2.612.112) (4.009.892) 111.769.575 Unrecovered costs
Asset abandonment and
Liabilitas pembongkaran site restoration
dan restorasi area 13.497.181 – (871.546) (1.768.299) 10.857.336 obligations
Property, plant and
Aset tetap 1.020.351 – – 8.253.379 9.273.730 equipment
Penyesuaian nilai wajar Fair value adjustment of
investasi pada entitas investment in
anak/entitas asosiasi – – – 8.555.480 8.555.480 subsidiaries/ associate
Liabilitas sewa pembiayaan 6.509.060 – (641.377) 1.879.665 7.747.348 Finance lease liabilities
Liabilitas imbalan kerja 1.003.578 – (11.434) 2.382.750 3.374.894 Employee benefit liabilities
Keuntungan/kerugian mata
uang asing yang belum Unrealized gain/loss of
direalisasi 1.333.184 – (1.216.746) 854.005 970.443 foreign exchange
Liabilitas kontrak 429.428 – (273.050) 66.570 222.948 Contract liabilities
Persediaan 71.932 – 112.192 (112.192) 71.932 Inventories
Penurunan nilai Pajak Impairment of Value Added
Pertambahan Nilai 28.501 – – (28.501) – Tax
Piutang Sewa Pembiayaan (105.930) – – (4.897.816) (5.003.746) Finance lease receivables
Aset minyak dan gas bumi 2.430.548 – (4.491.718) (5.084.419) (7.145.589) Oil and gas properties
Aset Hak Guna (6.335.395) – 624.425 (1.871.207) (7.582.177) Right-of-use assets
Lainnya (9.811) – – (2.536.943) (2.546.754) Others
Aset Pajak Tangguhan - Net Deferred Tax Assets -
Grup - Neto 138.264.206 – (9.381.366) 1.682.580 130.565.420 the Group
211
Page 380
2025 Management Business Company Corporate
378 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
c. Pajak Tangguhan (lanjutan) c. Deferred Tax (continued)
2024
(Dibebankan)
Aset/Liabilitas pajak Dikreditkan ke
tangguhan atas laporan laba rugi
entitas anak yang dan penghasilan
diklasifikasikan komprehensif
sebagai milik untuk lain
dijual dan operasi konsolidasian/
yang dihentikan/ (Charged)
Deferred tax assets/ Credited to
liabilities of consolidated
subsidiaries statement of
Penambahan classified as held for profit or other 31 Desember
dari akuisisi/ sale and loss and 2024/
1 Januari 2024/ Addition from discontinued comprehensive December 31,
January 1, 2024 acquisition operations income 2024
Liabilitas Pajak
Tangguhan Deferred Tax Liabilities
Aset minyak dan gas bumi (732.002.355) – – 78.736.232 (653.266.123) Oil and gas properties
Penyesuaian nilai wajar Fair value adjustment of
investasi pada entitas investment in
anak/entitas asosiasi (70.070.278) – – (5.794.430) (75.864.708) subsidiaries/ associate
Aset keuangan konsesi (23.579.976) – – (51.326.300) (74.906.276) Concession financial assets
Piutang sewa pembiayaan (45.379.139) – – (10.968.324) (56.347.463) Finance lease receivables
Aset Hak Guna (38.727.967) – – 12.946.895 (25.781.072) Right-of-use assets
Instrumen lindung nilai (11.366.356) – – (529.657) (11.896.013) Hedging instruments
Dividen anak perusahaan
yang belum Subsidiary dividends that
terdistribusikan (8.468.233) – – – (8.468.233) have not been distributed
Pembayaran berbasis
saham (45.144) – – 14.794 (30.350) Share-based payment
Kerugian kredit
ekspektasian 27.066 – – (24.099) 2.967 Expected credit loss
Beda temporer atas
Investasi pada entitas Temporary difference from
anak dan entitas asosiasi investment in subsidiaries
yang dicatat sebagai aset which were classified as
tersedia untuk dijual – – – 4.937 4.937 assets held for sale
Persediaan 793.014 – – 269.665 1.062.679 Inventories
Liabilitas kontrak 2.800.291 – – (597.645) 2.202.646 Contract liabilities
Keuntungan/kerugian mata
uang asing yang belum Unrealized gain/loss of
direalisasi 3.284.853 – – (1.001.495) 2.283.358 foreign exchange
Asset abandonment and
Liabilitas pembongkaran site restoration
dan restorasi area 8.319.272 – – (4.716.887) 3.602.385 obligations
Liabilitas imbalan kerja 13.661.365 – – (3.441.375) 10.219.990 Employee benefit liabilities
Rugi fiskal yang dibawa ke
masa depan 12.258.393 – – (163.814) 12.094.579 Tax loss carry forward
Property, plant and
Aset tetap (196.400) – – 49.608.292 49.411.892 equipment
Biaya yang belum
terpulihkan 76.375.492 – – (15.212.976) 61.162.516 Unrecovered costs
Liabilitas sewa pembiayaan 80.854.571 – – (3.817.706) 77.036.865 Finance lease liabilities
Lainnya 491.952 – – 507.354 999.306 Others
Liabilitas Pajak
Tangguhan - Grup - Net Deferred Tax liabilities
Neto (730.969.579) – – 44.493.461 (686.476.118) - the Group
Jumlah Beban Pajak
Total Deferred Tax
Tangguhan Grup
46.176.041 Expense of the Group
Beban Pajak Tangguhan Deferred Tax Expense
dari penghasilan from other
komprehensif lain 589.504 comprehensive income
Dampak selisih kurs (83.086) Effect of foreign exchange
Beban Pajak Tangguhan Net Deferred Tax Expense
Neto dari Operasi yang from Continuing
Dilanjutkan 46.682.459 Operations
212
Page 381
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 379
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
c. Pajak Tangguhan (lanjutan) c. Deferred Tax (continued)
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
aset pajak tangguhan yang tidak diakui adalah unrecognized deferred tax assets amounted to
masing-masing sebesar AS$197.093.280 dan US$197,093,280 and US$83,330,452
AS$83.330.452 dari rugi fiskal yang dapat respectively resulted from the tax losses carried
dikompensasi dan biaya yang belum forward and unrecovered costs. These tax
terpulihkan. Rugi fiskal tersebut terkait kepada losses relate to subsidiaries which have
entitas anak yang masih mengalami kerugian, incurred losses, have not yet expired and may
belum kadaluwarsa dan tidak dapat digunakan not be used to offset taxable profits elsewhere
untuk disalinghapuskan dengan penghasilan in the Group and unrecovered costs that relates
kena pajak entitas lain dalam Grup dan biaya to subsidiaries involved in oil and gas
yang belum terpulihkan terkait entitas anak exploration and production which will be
yang bergerak dalam eksplorasi dan produksi recovered through sales of oil and gas when the
minyak dan gas bumi yang dapat terpulihkan production started.
melalui penjualan minyak dan gas bumi ketika
sudah berproduksi.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the Group
Grup memiliki estimasi rugi pajak sebagai has an estimated tax losses carry forward as
berikut: follows:
Tahun
kadaluwarsa/
Expiry year 2025
Tahun pajak 2025 2030 598.630.162 2025 fiscal year
Tahun pajak 2024 2029 67.805.622 2024 fiscal year
Tahun pajak 2023 2028 54.467.670 2023 fiscal year
Tahun pajak 2022 2027 40.041.588 2022 fiscal year
Tahun pajak 2021 2026 36.426.970 2021 fiscal year
Jumlah 797.372.012 Total
Tahun
kadaluwarsa/
Expiry year 2024
Tahun pajak 2024 2029 56.472.604 2024 fiscal year
Tahun pajak 2023 2028 53.976.348 2023 fiscal year
Tahun pajak 2022 2027 41.482.840 2022 fiscal year
Tahun pajak 2021 2026 33.776.966 2021 fiscal year
Tahun pajak 2020 2025 23.850.651 2020 fiscal year
Jumlah 209.559.409 Total
213
Page 382
2025 Management Business Company Corporate
380 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
d. Rekonsiliasi antara beban pajak dengan hasil d. A reconciliation between the income tax
perhitungan menggunakan tarif pajak statutory expense and the amount computed by applying
yang berlaku atas laba konsolidasian sebelum the statutory tax rate to consolidated profit
beban pajak penghasilan dari operasi yang before income tax expense from continuing
dilanjutkan adalah sebagai berikut: operations is as follows:
2025 2024
Laba konsolidasian sebelum beban Consolidated profit before income
pajak penghasilan dari operasi tax expense from continuing
yang dilanjutkan 404.004.521 671.050.389 operations
Beban pajak menggunakan tarif
pajak efektif yang berlaku (216.051.103) (211.032.423) Tax expense using statutory tax rate
Dampak pajak dari perbedaan tetap (63.348.506) (130.544.913) Tax effects of permanent differences
Aset pajak tangguhan yang tidak
diakui (30.387.892) 13.688.531 Unrecognized deferred tax assets
Beda temporer atas entitas asosiasi Temporary difference on investment
yang tidak diakui 19.218.606 38.377.323 is not recognized
Lain-lain — 171.749 Others
Beban Pajak – Neto (290.568.895) (289.339.733) Tax Expense – Net
e. Pajak Penghasilan Pilar Dua e. Pillar Two income taxes
Pengenaan Pajak Minimum Global (“Peraturan The Global Anti-Base Erosion (“Pillar 2 Rules”)
Pillar 2”) diadopsi di Indonesia pada akhir tahun were adopted in Indonesia at the end of 2024
2024 melalui penerbitan Peraturan Menteri through the issuance of the Ministry of Finance
Keuangan Republik Indonesia No. 136 Tahun Regulation of the Republic of Indonesia No. 136
2024 yang mulai berlaku sejak 1 Januari 2025. Year 2024 which applicable starting January 1,
Berdasarkan peraturan tersebut, Grup termasuk 2025. Under these rules, the Group falls within
dalam cakupan dan diwajibkan untuk the scope and is required to apply Pillar 2
menerapkan Peraturan Pillar 2. Perusahaan Rules. The Company and its subsidiaries are
dan entitas anaknya dianggap sebagai entitas considered constituent entities of PT Kalibiru
konstituen dari PT Kalibiru Energi Lestari Energi Lestari (“KEL”) of which KEL is the
(“KEL”) di mana KEL merupakan entitas induk ultimate parent entity (“UPE”). Similar rules
utama (ultimate parent entity atau “UPE”). have also been enacted in several other
Peraturan serupa juga sudah diberlakukan di jurisdictions in which the Group operates, some
beberapa yurisdiksi lain tempat Grup of which have been applicable since January 1,
beroperasi, yang sebagian telah berlaku sejak 1 2024, and others are effective for the financial
Januari 2024 dan sebagian lainnya berlaku years beginning January 1, 2025.
untuk tahun buku yang dimulai pada 1 Januari
2025.
Grup telah melakukan penilaian atas potensi The Group has assessed its potential exposure
eksposurnya atas kewajiban untuk membayar from the requirement to pay top-up tax under
pajak tambahan berdasarkan Peraturan Pillar 2 Pillar 2 Rules and the applicable safe harbour
dan ketentuan safe harbour yang berlaku, yaitu provisions, namely, the transitional country-by-
transitional country-by-country report safe country report safe harbour (“CbCR Safe
harbor (“CbCR Safe Harbor”). Berdasarkan Harbor”). Based on its assessment under the
penilaian sesuai dengan Peraturan Pillar 2 full Pillar 2 Rules and CbCR Safe Harbour, the
secara penuh dan CbCR Safe Harbor, Grup Group has determined that no top-up tax is
menentukan bahwa tidak terdapat pajak payable under the Pillar 2 Rules.
tambahan yang terutang berdasarkan Peraturan
Pillar 2.
214
Page 383
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 381
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
38. PERPAJAKAN (lanjutan) 38. TAXATION (continued)
e. Pajak Penghasilan Pilar Dua (lanjutan) e. Pillar Two income taxes (continued)
Untuk tahun yang berakhir pada tanggal 31 For the year ended December 31, 2025, the
Desember 2025, Grup telah menerapkan Group has applied amendment to PSAK 212:
amandemen PSAK 212: Pajak Penghasilan, Income Taxes, which provides mandatory
yang memberikan pengecualian wajib temporary exception from recognizing or
sementara dari pengakuan atau pengungkapan disclosure of deferred taxes related to Pillar 2
pajak tangguhan terkait Peraturan Pillar 2. Rules.
Berdasarkan informasi yang tersedia saat ini, Based on currently available information, the
Grup tidak mengharapkan adanya dampak Group does not expect any material impact on
material terhadap laporan keuangan the consolidated financial statements.
konsolidasian.
39. ASET TIDAK LANCAR YANG 39. NON-CURRENT ASSETS CLASSIFIED AS HELD
DIKLASIFIKASIKAN SEBAGAI DIMILIKI UNTUK FOR SALE AND DISCONTINUED OPERATIONS
DIJUAL DAN OPERASI YANG DIHENTIKAN
Aset tidak lancar yang diklasifikasikan sebagai Non-current assets classified as held for sale and
dimiliki untuk dijual dan operasi yang dihentikan discontinued operations
Rincian dari akun ini adalah sebagai berikut: The details of this account are as follows:
2025 2024
PT Medco E & P Simenggaris 8.716.825 42.420.696 PT Medco E & P Simenggaris
PT Medco Downstream Indonesia 518.801 518.804 PT Medco Downstream Indonesia
Medco International Ventures Limited 205.799 438.842 Medco International Ventures Limited
Medco Energi US LLC 20.735 82.723 Medco Energi US LLC
Jumlah 9.462.160 43.461.065 Total
Liabilitas yang secara langsung berhubungan dengan Liabilities directly associated with the non-current assets
aset tidak lancar yang diklasifikasikan sebagai dimiliki classified as held for sale and discontinued operations
untuk dijual dan operasi yang dihentikan
Rincian dari akun ini adalah sebagai berikut: The details of this account are as follows:
2025 2024
PT Medco E & P Simenggaris 10.589.969 9.479.551 PT Medco E & P Simenggaris
PT Medco Downstream Indonesia 3.208.888 3.331.949 PT Medco Downstream Indonesia
Medco International Ventures Limited 1.006.298 1.006.199 Medco International Ventures Limited
Jumlah 14.805.155 13.817.699 Total
215
Page 384
2025 Management Business Company Corporate
382 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
39. ASET TIDAK LANCAR YANG 39. NON-CURRENT ASSETS CLASSIFIED AS HELD
DIKLASIFIKASIKAN SEBAGAI DIMILIKI UNTUK FOR SALE AND DISCONTINUED OPERATIONS
DIJUAL DAN OPERASI YANG DIHENTIKAN (continued)
(lanjutan)
Medco Energi USA Inc. dan entitas anaknya Medco Energi USA Inc, and its subsidiaries
Pada Oktober 2018, manajemen memutuskan In October 2018, management decided to divest its
untuk melepaskan asetnya di wilayah Amerika assets on North America region. On February 7,
Utara. Pada tanggal 7 Februari 2019, Medco Energi 2019, Medco Energi US LLC (“MEUS”), wholly-
US LLC (“MEUS”), entitas anak yang secara tidak owned indirect subsidiary of the Company, signed
langsung dimiliki seluruhnya oleh Perusahaan, Asset Purchase and Sale Agreement (“the
menandatangani Asset Purchase and Sale Agreement”) with Sanare Energy Partners LLC
Agreement (“Perjanjian”) dengan Sanare Energy (“Sanare”) for the sale of Main Pass Block located
Partners LLC (“Sanare”) untuk penjualan Blok Main in Gulf of Mexico with purchase price of
Pass di teluk Meksiko dengan harga penjualan US$150,000.
sebesar AS$150.000.
Transaksi tersebut telah selesai pada tahun 2019, The transaction is completed in 2019, upon the
setelah penyelesaian penjualan, MEUS tidak completion of the sale, MEUS has no operations
memiliki operasi dan terus diklasifikasikan dan and continues to be classified and presented as
disajikan sebagai bagian dari operasi yang part of discontinued operations.
dihentikan.
PT Medco Downstream Indonesia (“MDI Grup”) PT Medco Downstream Indonesia (“MDI Group”)
Sejalan dengan tujuan dari Grup agar lebih fokus In line with the objective of the Group to focus on
mengembangkan unit usaha dengan lini bisnis the oil and gas business, as of June 30, 2025 and
minyak dan gas bumi, pada tanggal 30 Juni 2025 2024 the Group recorded its investment in PT
dan 2024 Grup mencatat investasinya pada PT Medco Downstream Indonesia (“MDI”), PT Medco
Medco Downstream Indonesia (“MDI”), PT Medco LPG Kaji (“MLK”), PT Medco Methanol Bunyu
LPG Kaji (“MLK”), PT Medco Methanol Bunyu (“MMB”) and PT Medco Ethanol Lampung (“MEL”)
(“MMB”) dan PT Medco Ethanol Lampung (“MEL”) as part of discontinued operations.
sebagai bagian dari operasi yang dihentikan.
Medco International Ventures Limited ("MIVL") Medco International Ventures Limited ("MIVL")
Pada tanggal 24 May 2024, Medco dan National Oil On May 24, 2024, Medco and National Oil
Corporation of Libya ("NOC") telah menyelesaikan Corporation of Libya ("NOC") have completed the
pengalihan seluruh hak partisipasi Perseroan (50%) transfer of the Company’s entire (50%) participating
dalam Perjanjian Bagi Hasil Eksplorasi dan interest in the Contract Area 47 Exploration and
Produksi (“EPSA”) di Kontrak Area 47 dan seluruh Production Sharing Agreement (“EPSA”), and its
kepemilikan saham Perseroan (24,5%) di Joint entire (24.5%) shareholding in the Joint Operating
Operating Company, Nafusah Oil Operations B.V. Company, Nafusah Oil Operations B.V.
Setelah penyelesaian penjualan, MIVL tidak Upon the completion of the sale, MIVL has no
memiliki operasi dan terus diklasifikasikan dan operations and continues to be classified and
disajikan sebagai bagian dari operasi yang presented as part of discontinued operations.
dihentikan.
PT Medco E & P Simenggaris PT Medco E & P Simenggaris
Pada kuartal III tahun 2024, Dewan Direktur In third quarter of 2024, the Company’s Board of
Perusahaan menyetujui pelepasan aset dalam Blok Directors approved to divest its assets in
Simenggaris sehingga Perusahaan memutuskan Simenggaris Block. Therefore, the Company
untuk mengklasifikasikan dan menyajikan aset dan decided to classify PT Medco E & P Simenggaris'
liabilitas PT Medco E & P Simenggaris sebagai aset assets and liabilities as available for sale in current
dan liabilitas yang dimiliki untuk dijual pada bagian portion. Subsequently, on February 2026, the
lancar. Selanjutnya, pada Februari 2026, Company has entered into a Sales and Purchase
Perusahaan telah menandatangani Perjanjian Jual Agreement with conditions precedent.
Beli dengan kondisi pendahuluan.
216
Page 385
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 383
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
39. ASET TIDAK LANCAR YANG 39. NON-CURRENT ASSETS CLASSIFIED AS HELD
DIKLASIFIKASIKAN SEBAGAI DIMILIKI UNTUK FOR SALE AND DISCONTINUED OPERATIONS
DIJUAL DAN OPERASI YANG DIHENTIKAN (continued)
(lanjutan)
PT Medco E & P Simenggaris (lanjutan) PT Medco E & P Simenggaris (continued)
Untuk tahun yang berakhir pada tanggal 31 For the year ended December 31, 2025, the Group
Desember 2025, Grup mengakui kerugian atas recognized loss on fair value less costs to sell
pengukuran nilai wajar aset dikurangi biaya untuk amounting to US$28.1 million related to the
menjual sebesar AS$28,1 juta terkait dengan intention of the Group to sell PT Medco E&P
rencana Grup untuk menjual PT Medco E&P Simenggaris.
Simenggaris.
Sehubungan dengan rencana-rencana Grup As a result of the above plans, for the year ended
tersebut di atas, untuk tahun yang berakhir pada December 31, 2025 and 2024, the Group presented
tanggal 31 Desember 2025 dan 2024, Grup the profit (loss) after tax from discontinued
menyajikan laba (rugi) setelah pajak dari operasi operations as a single line item in the consolidated
yang dihentikan sebagai suatu jumlah tunggal statements of profit or loss and other
dalam laporan laba rugi dan penghasilan comprehensive income.
komprehensif lain konsolidasian.
Pada tanggal posisi keuangan pada periode As of the financial position date in the particular
diklasifikasikannya entitas-entitas dan investasi period when those entities and investments were
tersebut sebagai dimiliki untuk dijual, aset dan classified as held for sale, the assets and liabilities
liabilitas disajikan secara terpisah dalam jumlah were presented separately as single line item as
tunggal sebagai aset dan liabilitas yang dimiliki assets and liabilities held for sale from other assets
untuk dijual dari aset lain-lain dan liabilitas lain-lain and other liabilities in the consolidated statements
dalam laporan posisi keuangan konsolidasian dan of financial position and are not netted off against
tidak saling hapus satu sama lain. each other.
Akun-akun laba rugi utama dari operasi yang The main profit or loss accounts of discontinued
dihentikan adalah sebagai berikut: operations are presented below:
2025 2024
Pendapatan dari kontrak dengan
pelanggan – 24.158.581 Revenues from contract with customer
Beban pokok penjualan dan biaya
langsung lainnya – (2.861.309) Cost of sales and other direct costs
Laba kotor – 21.297.272 Gross profit
Beban penjualan umum dan Selling general and administrative
administrasi (809.183) (1.795.751) expenses
Beban pendanaan (5.254) (934.339) Finance costs
Pendapatan bunga 7.694 42.683 Finance income
Keuntungan/(kerugian) dari selisih kurs 909.225 (688.254) Gain/(loss) on foreign exchange
Keuntungan atas pelepasan entitas
anak – 726.595 Gain on disposal subsidiaries
Lainnya – neto 6.058 (22.125.214) Others - net
Laba/(Rugi) sebelum beban pajak
penghasilan dari operasi yang Profit/(Loss) before income tax expense
dihentikan 108.540 (3.477.008) from discontinued operations
Beban pajak penghasilan – 1.972.867 Income tax expense
Laba/(Rugi) setelah beban pajak Profit/(Loss) after income tax
penghasilan dari operasi yang expense from discontinued
dihentikan 108.540 (1.504.141) operations
217
Page 386
2025 Management Business Company Corporate
384 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
39. ASET TIDAK LANCAR YANG 39. NON-CURRENT ASSETS CLASSIFIED AS HELD
DIKLASIFIKASIKAN SEBAGAI DIMILIKI UNTUK FOR SALE AND DISCONTINUED OPERATIONS
DIJUAL DAN OPERASI YANG DIHENTIKAN (continued)
(lanjutan)
Kelas-kelas utama dari aset dan liabilitas yang The major classes of assets and liabilities classified
dimiliki untuk dijual pada tanggal 31 Desember as held for sale as of December 31, 2025 and 2024,
2025 dan 2024 adalah sebagai berikut: are presented below:
2025 2024
ASET ASSETS
Kas dan setara kas 926.012 2.443.625 Cash and cash equivalents
Piutang usaha Trade receivables
- Pihak ketiga 981.977 1.179.908 Third parties -
Piutang lain-lain Other receivables
- Pihak ketiga 369.583 3.475.259 Third parties -
Persediaan 414.139 898.162 Inventories
Beban dibayar di muka 11.197 2.055 Prepaid expenses
Aset pajak tangguhan 4.826.891 9.381.366 Deferred tax asset
Aset tetap - neto 518.801 518.801 Property, plant and equipment – net
Aset hak guna - neto 1.402.134 1.289.067 Right of use assets – net
Aset minyak dan gas bumi 28.081.051 24.251.821 Oil and gas properties
Aset lain-lain 11.425 21.001 Other assets
Aset yang dimiliki untuk dijual 37.543.210 43.461.065 Assets held for sale
LIABILITAS LIABILITIES
Utang usaha pihak ketiga 1.418.551 1.045.328 Trade payables third parties
Utang lain-lain 3.034.930 2.694.670 Other payables
Utang pajak 212.869 118.220 Taxes payable
Biaya akrual 7.843.570 6.173.682 Accrued expenses
Liabilitas sewa 1.319.913 1.184.445 Lease liabilities
Liabilitas kontrak 679.177 620.569 Contract liabilities
Liabilitas pembongkaran aset dan restorasi Asset abandonment and site restoration
area dan provisi lain-lain 296.145 1.980.785 obligations
Liabilitas yang secara langsung berhubungan Liabilities directly associated with assets held
dengan aset yang dimiliki untuk dijual 14.805.155 13.817.699 for sale
Kerugian atas pengukuran nilai wajar Impairment loss on assets recognized at fair
dikurangi biaya untuk menjual (28.081.050) – value less cost to sell
(Liabilitas)/aset neto yang secara langsung
berhubungan dengan yang dimiliki untuk Net (liabilities)/assets directly associated
dijual atau pelepasan grup (5.342.995) 29.643.366 with held for sale or disposal group
Kas neto dari operasi yang dihentikan adalah The net cash flows of discontinued operations are
sebagai berikut: presented below:
2025 2024
ARUS KAS CASH FLOWS
Aktivitas investasi 20.961 – Investing activities
Aktivitas operasi (72.222) 3.884.547 Operating activities
Aktivitas pendanaan – – Financing activities
(Penurunan)/kenaikan neto pada arus kas (51.261) 3.884.547 Net (decrease)/increase in cashflows
218
Page 387
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 385
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
40. LABA (RUGI) PER SAHAM 40. EARNINGS (LOSS) PER SHARE
a. Laba per saham a. Earnings per share
2025
Laba Periode
Berjalan yang
Diatribusikan Kepada Rata-rata Tertimbang
Pemilik Entitas Induk/ Saham Biasa yang
Profit for the Period Beredar/
Attributable to Equity Weighted Average
Holders of the Parent Number of Ordinary Laba per Saham/
Company Outstanding Share Earnings per Share
Laba per saham dasar 100.923.998 24.761.620.035 0,00408 Basic earnings per share
2024
Laba Periode
Berjalan yang
Diatribusikan Kepada Rata-rata Tertimbang
Pemilik Entitas Induk/ Saham Biasa yang
Profit for the Period Beredar/
Attributable to Equity Weighted Average
Holders of the Parent Number of Ordinary Laba per Saham/
Company Outstanding Share Earnings per Share
Laba per saham dasar 367.358.268 25.053.803.009 0,01466 Basic earnings per share
b. Laba per saham dari operasi yang dilanjutkan b. Earnings per share from continuing operation
2025
Laba Periode
Berjalan dari Operasi
yang Dilanjutkan
yang Diatribusikan
Kepada Pemilik
Entitas Induk/
Profit for the Period Rata-rata Tertimbang
from Continuing Saham Biasa yang
Operation Beredar/
Attributable to Equity Weighted Average
Holders of the Parent Number of Ordinary Laba per Saham/
Company Outstanding Share Earnings per Share
Laba per saham dasar 100.815.458 24.761.620.035 0,00407 Basic earnings per share
2024
Laba Periode
Berjalan dari Operasi
yang Dilanjutkan
yang Diatribusikan
Kepada Pemilik
Entitas Induk/
Profit for the Period Rata-rata Tertimbang
from Continuing Saham Biasa yang
Operation Beredar/
Attributable to Equity Weighted Average
Holders of the Parent Number of Ordinary Laba per Saham/
Company Outstanding Share Earnings per Share
Laba per saham dasar 368.862.409 25.053.803.009 0,01472 Basic earnings per share
219
Page 388
2025 Management Business Company Corporate
386 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
40. LABA (RUGI) PER SAHAM (lanjutan) 40. EARNINGS (LOSS) PER SHARE (continued)
c. Laba (rugi) per saham dari operasi yang c. Earnings (loss) per share from discontinued
dihentikan operation
2025
Laba Periode
Berjalan dari Operasi
yang Dihentikan yang
Diatribusikan Kepada
Pemilik Entitas Induk/
Profit for the Period Rata-rata Tertimbang
from Discontinued Saham Biasa yang
Operation Beredar/
Attributable to Equity Weighted Average
Holders of the Parent Number of Ordinary Laba per Saham/
Company Outstanding Share Earnings per Share
Laba per saham dasar 108.540 24.761.620.035 0,000004 Basic earnings per share
2024
Rugi Periode Berjalan
dari Operasi yang
Dihentikan yang
Diatribusikan Kepada
Pemilik Entitas Induk/
Loss for the Period Rata-rata Tertimbang
from Discontinued Saham Biasa yang
Operation Beredar/
Attributable to Equity Weighted Average
Holders of the Parent Number of Ordinary Rugi per Saham/
Company Outstanding Share Loss per Share
Rugi per saham dasar (1.504.141) 25.053.803.009 (0,00006) Basic loss per share
Untuk tahun yang berakhir pada tanggal 31 For the years ended December 31, 2025 and 2024,
Desember 2025 dan 2024, Perusahaan tidak the Company did not calculate diluted earnings per
menghitung laba per saham dilusian karena tidak share since there was no potentially dilutive
terdapat saham biasa yang berpotensi dilutif (anti ordinary shares (anti dilutive).
dilutif).
Jumlah rata-rata tertimbang saham The weighted average number of shares takes into
memperhitungkan efek rata-rata tertimbang dari account the weighted average effect of changes in
perubahan saham treasuri selama tahun berjalan. treasury shares during the year.
Tidak ada transaksi lain yang melibatkan saham There have been no other transactions involving
biasa maupun saham biasa potensial antara ordinary shares or potential ordinary shares
tanggal pelaporan dan pengesahan laporan between the reporting date and the date of
keuangan konsolidasian ini. authorization of these consolidated financial
statements.
220
Page 389
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 387
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
41. SALDO LABA DAN DIVIDEN KAS 41. RETAINED EARNINGS AND CASH DIVIDENDS
a. Dividen Kas a. Cash Dividend
Pada tanggal 3 Juni 2024, Direksi dan Dewan On June 3, 2024, The Board of Directors and
Komisaris telah menyetujui pembagian dividen the Board of Commissioners have approved the
kas sesuai dengan hasil RUPST tertanggal 30 distribution of cash dividend as per AGMS dated
Mei 2024 sebesar AS$44.866.556 dari laba May 30, 2024 of a US$44,866,556 from the
tahun buku 2023 senilai Rp29,32 per saham. profit for the 2023 financial year in the amount
Dividen kas ini telah dibayarkan pada tanggal of Rp29.32 per shares. The cash dividends
27 Juni 2024. were paid on June 27, 2024.
Pada tanggal 1 Oktober 2024, Direksi dan On October 1, 2024, The Board of Directors and
Dewan Komisaris telah menyetujui pembagian the Board of Commissioners have approved the
dividen kas interim sebesar AS$25.370.571 dari distributin of US$25,370,571 interim cash
laba Interim Triwulan yang berakhir pada dividend from the profit for the Quarterly Interim
tanggal 30 September 2024 senilai Rp15,75 per ended on September 30, 2024, in the amount of
saham. Dividen kas interim telah dibayarkan Rp15.75 per shares. The interim cash dividend
pada tanggal 31 Oktober 2024. were paid on October 31, 2024.
Pada tanggal 4 Juni 2025, Direksi dan Dewan On June 4, 2025, The Board of Directors and
Komisaris telah menyetujui pembagian dividen the Board of Commissioners have approved the
kas sesuai dengan hasil RUPST tertanggal 3 distribution of cash dividend as per AGMS dated
Juni 2025 sebesar AS$37.923.889 dari laba June 3, 2025, of a US$37,923,889 from the
tahun buku 2024 senilai Rp25 per saham. profit for the 2024 financial year in the amount
Dividen kas ini telah dibayarkan pada tanggal 3 of Rp25 per shares. The cash dividends were
Juli 2025. paid on July 3, 2025.
Pada tanggal 31 Oktober 2025, Direksi dan On October 31, 2025, The Board of Directors
Dewan Komisaris telah menyetujui pembagian and the Board of Commissioners have
dividen kas interim sebesar AS$42.192.039 dari approved the distributin of US$42,192,039
laba Interim Triwulan yang berakhir pada interim cash dividend from the profit for the
tanggal 30 September 2025 senilai Rp28,45 per Quarterly Interim ended on September 30, 2025
saham. Dividen kas interim telah dibayarkan in the amount of Rp28.45 per shares. The
pada tanggal 27 November 2025. interim cash dividend were paid on November
27, 2025.
b. Saldo Laba yang Ditentukan Penggunaannya b. Appropriated Retained Earning
Perusahaan membentuk dana cadangan umum The company established general reserve in
sesuai dengan Undang–Undang Republik accordance with The Limited Liability Company
Indonesia No. 40 Tahun 2007 tentang Law of the Republic of Indonesia No. 40 of
Perseroan Terbatas. Pada tanggal 31 2007. Balance of the appropriated retained
Desember 2025 dan 2024, saldo laba yang earnings of the Company at December 31, 2025
dicadangkan Perusahaan adalah masing- and 2024, amounted to US$10,435,835,
masing sebesar AS$10.435.835. respectively.
221
Page 390
2025 Management Business Company Corporate
388 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA 42. EMPLOYEE BENEFITS LIABILITIES
a. Program Pensiun Iuran Pasti a. Defined Contribution Pension Plan
Entitas anak yang bergerak di bidang eksplorasi Subsidiaries involved in oil and gas exploration
dan produksi minyak gas bumi telah and production activities have established
menyelenggarakan program pensiun iuran pasti defined contribution pension plans covering all
untuk semua karyawan tetap lokalnya. Program their local permanent employees. These plans
ini akan memberikan manfaat pensiun yang provide pension benefits which calculated
dihitung berdasarkan gaji dan masa kerja based on salaries and years of service of the
karyawan. employees.
Program pensiun dikelola oleh Dana Pensiun The pension plans are managed by Dana
Lembaga Keuangan (DPLK), PT Bank Negara Pensiun Lembaga Keuangan (DPLK), PT Bank
Indonesia (Persero) Tbk yang akta pendiriannya Negara Indonesia (Persero) Tbk whose deeds
disetujui oleh Menteri Keuangan Republik of establishment were approved by the Minister
Indonesia dengan surat keputusannya No. Kep. of Finance of the Republic of Indonesia in his
1100/KM.17/1998 tanggal 23 November 1998 decision letters No. Kep. 1100/KM.17/1998
dan No. Kep.171-KMK/7/1993 tanggal dated November 23, 1998 and No. Kep.171-
16 Agustus 1993, DPLK Manulife Indonesia KMK/7/1993 dated August 16, 1993, DPLK
yang telah mendapatkan pengesahan dari Manulife Indonesia were approved by the
Menteri Keuangan Republik Indonesia dengan Minister of Finance of the Republic of Indonesia
surat keputusannya No. KEP-231/KM.17/1994 in his decision letters No. KEP-231/KM.17/1994
tanggal 5 Agustus 1994, dan DPLK Allianz dated August 5, 1994, and DPLK Allianz
Indonesia, PT Asuransi Allianz Life Indonesia Indonesia, PT Asuransi Allianz Life Indonesia
yang telah mendapatkan pengesahan Menteri were approved by the Minister of Finance of the
Keuangan Republik Indonesia No. 513/ Republic of Indonesia in his decision letters No.
KMK.017/1996 tanggal 16 Agustus 1996. 513/KMK.017/1996 dated August 16, 1996.
Program pensiun tersebut didanai dengan The pension plans are funded by contributions
kontribusi baik dari Perusahaan dan entitas from both the Company and its subsidiaries at
anak masing-masing sebesar 6% dan 6% dari 6% and 6% of gross salaries and their
gaji kotor dan dari karyawan masing-masing employees at 2% or 4% and 2% to 14% of
sebesar 2% atau 4% dan 2% sampai dengan gross salaries, respectively.
14% dari gaji kotor.
Untuk tahun yang berakhir pada tanggal For the year ended December 31, 2025 and
31 Desember 2025 dan 2024, biaya atas 2024, the defined contribution pension cost of
pensiun iuran pasti dari Perusahaan dan entitas Company and subsidiaries involved in oil and
anak yang bergerak dalam eksplorasi dan gas exploration and production amounting to
produksi minyak dan gas bumi masing-masing US$3,718,037 and US$4,206,651, respectively.
sejumlah AS$3.718.037 dan AS$4.206.651.
222
Page 391
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 389
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
b. Program Pensiun Imbalan Pasti b. Defined Benefit Pension Plan
Liabilitas imbalan kerja yang diakui oleh Employee benefits liabilities which was
Perusahaan pada tanggal 31 Desember 2025 recognized by the Company as of the date
dan 2024 adalah sebagai berikut: December 31, 2025 and 2024, are as follows:
2025 2024
Liabilitas pensiun imbalan pasti Present value of defined benefit
(Undang-Undang) 30.839.903 28.669.970 obligation (Labor Law)
Present value of defined benefit
Liabilitas pensiun imbalan pasti 6.308.400 3.413.145 obligation
Liabilitas penghargaan jubilee 9.788.735 3.515.238 Jubilee awards obligation
Saldo akhir tahun 46.937.038 35.598.353 Balance at end of year
Liabilitas imbalan kerja - jangka Employee benefits liabilities -
panjang 46.937.038 35.598.353 long-term portion .
Grup mengakui liabilitas pensiun imbalan pasti The Group recognizes defined benefit obligation
untuk karyawan yang bekerja di bidang minyak for employees involved in oil and gas operations
dan gas bumi sesuai dengan peraturan yang in accordance with applicable regulations. The
berlaku. Program pensiun imbalan pasti didanai defined benefit pension plan is being funded by
dengan penempatan dana pada PT AXA Mandiri placing funds in PT AXA Mandiri Financial
Financial Service. Service.
Grup juga mengakui manfaat pasca-kerja The Group also recognizes post-employment
lainnya untuk pegawai yang bukan anggota benefits expense for non-members of the
program pensiun imbalan pasti sesuai dengan defined benefit pension plan in accordance with
Undang-Undang Ketenagakerjaan dan Labor Law and the prevailing Group policy.
kebijakan Grup yang berlaku.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024,
jumlah orang yang berhak memperoleh imbalan respectively, the numbers of people eligible for
tersebut adalah masing-masing 2.634 orang the benefits were 2,634 personnel (unaudited)
(tidak diaudit) dan 2.276 orang (tidak diaudit). and 2,276 personnel (unaudited).
223
Page 392
2025 Management Business Company Corporate
390 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
b. Program Pensiun Imbalan Pasti (lanjutan) b. Defined Benefit Pension Plan (continued)
i. Analisa liabilitas pensiun imbalan pasti i. An analysis of defined benefit obligations
yang diakui di dalam laporan posisi recognized in the consolidated statements
keuangan konsolidasian adalah sebagai of financial position were as follows:
berikut:
2025 2024
Nilai sekarang liabilitas pensiun Present value of defined benefit
imbalan pasti 129.393.523 110.656.512 obligations
Nilai wajar aset program (130.875.250) (119.709.552) Fair value of plan asset
Kelebihan pendanaan liabilitas Overfunded defined benefit
pensiun imbalan kerja (1.481.727) (9.053.040) obligations
Batasan pengakuan aset 7.790.127 12.466.185 Limitation on asset recognition
Saldo akhir tahun 6.308.400 3.413.145 Balance at end of year
Liabilitas imbalan kerja - jangka Employee benefits liabilities -
panjang 6.308.400 3.413.145 long-term portion
Saldo akhir tahun 6.308.400 3.413.145 Balance at end of year
ii. Analisa biaya pensiun imbalan pasti pada ii. An analysis of the defined benefit costs in
laporan laba rugi dan penghasilan the consolidated statements of profit or
komprehensif lain konsolidasian adalah loss and other comprehensive income
sebagai berikut: were as follows:
2025 2024
Biaya jasa kini 7.920.377 7.078.668 Current service cost
Beban bunga (232.670) (17.961) Interest cost
Biaya jasa lalu (149) – Past service cost
Jumlah 7.687.558 7.060.707 Total
224
Page 393
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 391
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
b. Program Pensiun Imbalan Pasti (lanjutan) b. Defined Benefit Pension Plan (continued)
iii. Mutasi liabilitas yang diakui atas beban iii. The movements of liabilities recognized for
imbalan kerja di laporan posisi keuangan the provision for employee service
konsolidasian adalah sebagai berikut: entitlements in the consolidated
statements of financial position were as
follows:
2025 2024
Saldo awal tahun 3.413.145 5.658.256 Balance at beginning of year
Biaya imbalan kerja pada tahun Employee benefit costs for the
berjalan 7.687.558 7.060.707 year
Jumlah yang diakui pada Total amount recognized in other
penghasilan komprehensif lain (1.308.723) (3.388.137) comprehensive income
Kontribusi pada tahun berjalan (3.447.130) (4.425.487) Contributions for the year
Imbalan kerja yang dibayarkan (9.341) (20.947) Benefits paid
Effect of foreign exchange
Dampak selisih kurs (27.109) (1.471.247) differences
Saldo akhir periode/tahun 6.308.400 3.413.145 Balance at end of period/year
iv. Mutasi nilai kini kewajiban berdasarkan iv. The movements of present value of
perhitungan aktuari adalah sebagai obligation based on independent actuary’s
berikut: calculation were as follows:
2025 2024
Saldo awal tahun 110.656.512 110.883.615 Balance at beginning of year
Efek dari akuisisi anak Effect from acquisition of
perusahaan 11.843.492 – subsidiary
Beban bunga 7.706.085 6.573.761 Interest cost
Biaya jasa kini 7.920.377 7.078.668 Current service cost
Biaya jasa lalu (149) – Past service cost
Imbalan kerja yang dibayarkan: Benefits paid:
Perusahaan (9.341) (20.947) Company
Dana pensiun (10.826.975) (8.675.796) Pension fund
Kerugian (laba) aktuarial atas: Actuarial loss (gain) due to:
Changes in financial
Perubahan asumsi finansial 6.966.091 (3.111.193) assumption
Penyesuaian historis 1.875.771 2.921.511 Experience adjustments
Effect of foreign exchange
Dampak selisih kurs (6.738.340) (4.993.107) differences
Saldo akhir tahun 129.393.523 110.656.512 Balance at end of year
225
Page 394
2025 Management Business Company Corporate
392 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
b. Program Pensiun Imbalan Pasti (lanjutan) b. Defined Benefit Pension Plan (continued)
v. Mutasi nilai wajar aset program adalah v. The movements of fair value of plan
sebagai berikut: assets were as follows:
2025 2024
Saldo awal tahun 119.709.552 122.629.376 Balance at beginning of year
Efek dari akuisisi anak Effect from acquisition of
perusahaan 11.843.492 – subsidiary
Pendapatan bunga atas aset
program 8.876.952 7.714.675 Interest income on plan asset
Imbal hasil atas aset program 5.314.204 (2.045.392) Return on plan assets
Kontribusi pada tahun berjalan 3.447.130 4.425.487 Contributions for the year
Pembayaran manfaat dari aset
program (10.826.975) (8.675.796) Benefits paid by plan asset
Effect of foreign exchange
Dampak selisih kurs (7.489.105) (4.338.798) differences
Saldo akhir tahun 130.875.250 119.709.552 Balance at end of year
vi. Kategori utama atas aset program imbalan vi. The major categories of plan assets as a
sebagai persentase dari nilai wajar aset percentage of the fair value of the total
program adalah sebagai berikut: plan assets were as follows:
2025 2024
Obligasi pemerintah 28 % 50 % Government bonds
Obligasi perusahaan 12 % 17 % Corporate bonds
Deposito berjangka 60 % 33 % Time deposits
Jumlah 100 % 100 % Total
226
Page 395
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 393
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
b. Program Pensiun Imbalan Pasti (lanjutan) b. Defined Benefit Pension Plan (continued)
vii. Liabilitas pensiun imbalan pasti dihitung vii. The defined benefit obligations were
dengan menggunakan asumsi sebagai calculated using the following
berikut: assumptions:
2025 2024
Tingkat diskonto 4,81% - 7,06% 6,88% - 7,14% Discount rates
Tingkat pengembalian yang
diharapkan dari aset: Expected rate of return on assets:
- Portofolio Rupiah 0% - 7,06% 0% - 7,14% Rupiah portfolio -
Tingkat proyeksi kenaikan gaji 5,0% - 6,0% 5,0% - 6,0% Salary increment rate
Tingkat mortalitas TMI 2019 TMI 2019 Mortality rate
Tingkat morbiditas (tingkat
disabilitas) 10 % 0,75% - 10% Morbidity rate (disability rate)
tingkat mortalitas/ tingkat mortalitas/
mortality rate mortality rate
Tingkat pengunduran diri 1% - 6% 1% - 6% Resignation rate
terutama sesuai terutama sesuai
tingkat usia/ tingkat usia/
primarily in line with primarily in line with
age profile age profile
Usia pensiun normal (dalam
tahun) 58 - 60 58 - 60 Normal retirement age (in year)
Proporsi pengambilan pensiun
normal 100 % 100 % Proportion of normal retirements
Tingkat pensiun dini 1% - 5% 1% - 5% Early retirement rate
dari tingkat dari tingkat
kelangsungan hidup/ kelangsungan hidup/
of survival rate of survival rate
Analisa sensitivitas kuantitatif untuk asumsi- The quantitative sensitivity analysis for
asumsi yang signifikan pada tanggal significant assumptions as of
31 Desember 2025 dan 2024 adalah sebagai December 31, 2025 and 2024, were as follows:
berikut:
Tingkat diskonto/ Kenaikan gaji dimasa depan/ Future
Discount rates salary increase rate
Pengaruh nilai Pengaruh nilai
kini atas kini atas
kewajiban kewajiban
imbalan kerja/ imbalan kerja/
Effect on Effect on
present value on present value on
Persentase/ benefit Persentase/ benefit
Percentage obligation Percentage obligation
2025 2025
Kenaikan 1% (9.304.034) 1% 9.509.388 Increase
Penurunan (1)% 10.712.016 (1)% (8.396.492) Decrease
2024 2024
Kenaikan 1% (8.336.684) 1% 7.690.134 Increase
Penurunan (1)% 9.412.442 (1)% (6.967.325) Decrease
227
Page 396
2025 Management Business Company Corporate
394 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
b. Program Pensiun Imbalan Pasti (lanjutan) b. Defined Benefit Pension Plan (continued)
Jadwal jatuh tempo dari liabilitas imbalan pasti Undiscounted maturity profile of defined benefit
yang tidak didiskontokan pada tanggal obligations as of December 31, 2025 and 2024,
31 Desember 2025 dan 2024 adalah sebagai were as follows:
berikut:
2025 2024
Kurang dari 1 tahun 8.187.649 8.975.237 Within one year
1 tahun 13.950.800 7.637.986 1 year
2 - 5 tahun 41.165.398 60.839.570 2 - 5 years
Lebih dari 5 tahun 298.388.538 292.189.766 More than 5 years
Jumlah 361.692.385 369.642.559 Total
c. Undang-Undang Ketenagakerjaan dan Imbalan c. Labor Law and Other Post-employment Benefits
Pascakerja Lainnya
Grup juga mengakui manfaat pasca-kerja The Group also recognizes post-employment
lainnya untuk pegawai yang bukan anggota benefits for employees who are non-members
program pensiun imbalan pasti dan personil of the defined benefit plan and key
manajemen kunci sesuai dengan Undang- management in accordance with Labor Law and
Undang Ketenagakerjaan dan kebijakan Grup current Group’s policy.
yang berlaku.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
jumlah karyawan yang berhak memperoleh numbers of employees eligible for the benefits
imbalan tersebut adalah masing-masing were 926 personnel (unaudited) and 843
sebanyak 926 orang (tidak diaudit) dan 843 personnel (unaudited), respectively.
orang (tidak diaudit).
Pada tanggal 31 Desember 2025, liabilitas As of December 31, 2025, the employee
imbalan kerja ditetapkan berdasarkan benefits liabilities are determined based on the
perhitungan aktuaris independen Steven and calculation of independent actuaries, Steven
Mourits yang laporannya tertanggal and Mourits as set forth in their reports dated
2 Maret 2026 dan Yusi dan Rekan yang March 2, 2026 and Yusi and Partner as set forth
laporannya tertanggal 25 Maret 2026. in their reports dated March 25, 2026.
Pada tanggal 31 Desember 2024, liabilitas As of December 31, 2024, the employee
imbalan kerja ditetapkan berdasarkan benefits liabilities are determined based on the
perhitungan aktuaris independen Steven and calculation of independent actuaries, Steven
Mourits yang laporannya tertanggal and Mourits as set forth in their reports dated
22 Januari 2025 dan Yusi dan Rekan yang January 22, 2025 and Yusi and Partner as set
laporannya tertanggal 7 Maret 2025 dan 14 forth in their reports dated March 7, 2025 and
Maret 2025. March 14, 2025.
228
Page 397
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 395
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
c. Undang-Undang Ketenagakerjaan dan Imbalan c. Labor Law and Other Post-employment Benefits
Pascakerja Lainnya (lanjutan) (continued)
i. Analisa liabilitas Undang-Undang i. An analysis of the Labor Law and other
Ketenagakerjaaan dan imbalan pasca- post-employment benefits obligations
kerja lainnya yang diakui di dalam recognized in the consolidated
laporan posisi keuangan konsolidasian statements of financial position were as
adalah sebagai berikut: follows:
2025 2024
Nilai sekarang liabilitas pensiun Present value of defined benefit
imbalan pasti 37.685.196 34.746.443 obligations
Nilai wajar aset program (6.845.293) (6.076.473) Fair value of plan assets
Saldo akhir tahun 30.839.903 28.669.970 Balance at end of year
ii. Analisa biaya Undang-Undang ii. An analysis of the Labor Law and other
Ketenagakerjaan dan imbalan pasca- post-employment benefits costs in the
kerja lainnya pada laporan laba rugi dan consolidated statements of profit or loss
penghasilan komprehensif lain and other comprehensive income were
konsolidasian adalah sebagai berikut: as follows:
2025 2024
Biaya jasa kini 3.768.278 2.950.590 Current service cost
Beban bunga 1.753.840 1.391.772 Interest cost
Biaya jasa lalu 5.186 18.349 Past service cost
Lain-lain 129.455 100.618 Others
Jumlah 5.656.759 4.461.329 Total
iii. Mutasi liabilitas yang diakui atas beban iii. The movements of liabilities recognized
imbalan kerja di laporan posisi keuangan for the provision for employee service
konsolidasian adalah sebagai berikut: entitlements in the consolidated
statements of financial position were as
follows:
2025 2024
Saldo awal tahun 28.669.970 23.425.639 Balance at beginning of year
Biaya imbalan kerja pada Employee benefit costs for the
periode/tahun berjalan 5.656.759 4.461.329 period/year
Jumlah yang diakui pada Total amount recognized in other
penghasilan komprehensif lain (1.944.159) 3.522.652 comprehensive income
Imbalan kerja yang dibayarkan (859.030) (411.150) Benefits paid
Effect of foreign exchange
Dampak selisih kurs (683.637) (2.328.500) differences
Saldo akhir tahun 30.839.903 28.669.970 Balance at end of year
229
Page 398
2025 Management Business Company Corporate
396 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
c. Undang-Undang Ketenagakerjaan dan Imbalan c. Labor Law and Other Post-employment Benefits
Pascakerja Lainnya (lanjutan) (continued)
iv. Nilai kini kewajiban berdasarkan iv. The movements of present value of
perhitungan aktuari adalah sebagai obligation based on independent
berikut: actuary’s calculation were as follows:
2025 2024
Saldo awal tahun 34.746.443 28.523.080 Balance at beginning of year
Biaya jasa kini 3.768.278 2.950.590 Current service cost
Beban bunga 2.196.682 1.722.519 Interest cost
Biaya jasa lalu 5.186 18.349 Past service cost
Imbalan kerja yang dibayarkan: Benefits paid:
Perusahaan (859.030) (411.150) Company
Dana pensiun (1.449.684) – Pension fund
Kerugian (keuntungan) aktuaria
atas: Actuarial loss (gain) due from:
Changes in financial
Perubahan asumsi financial 1.990.026 (487.740) assumption
Penyesuaian historis (3.993.935) 423.035 Experience adjustments
Effect of foreign exchange
Dampak selisih kurs 1.281.230 2.007.760 differences
Saldo akhir tahun 37.685.196 34.746.443 Balance at end of year
v. Mutasi nilai wajar aset program adalah v. The movements of fair value of plan
sebagai berikut: assets were as follows:
2025 2024
Saldo awal tahun 6.076.473 5.097.441 Balance at beginning of year
Pendapatan bunga atas aset
program 442.842 330.747 Interest income on plan asset
Kontribusi pada periode/tahun
berjalan – – Contributions for the period/year
Pembayaran manfaat dari aset
program (595.877) – Benefits paid by plan asset
Imbal hasil atas aset program (851.928) (70.962) Return on plan assets
Effect of foreign exchange
Dampak selisih kurs 1.773.783 719.247 differences
Saldo akhir periode/tahun 6.845.293 6.076.473 Balance at end of period/year
230
Page 399
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 397
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
c. Undang-Undang Ketenagakerjaan dan Imbalan c. Labor Law and Other Post-employment Benefits
Pascakerja Lainnya (lanjutan) (continued)
vi. Penghargaan Jubilee: vi. Jubilee Awards:
Pegawai permanen dari Grup berhak Permanent employees of the Group are
atas penghargaan Jubilee. Penghargaan entitled to Jubilee Awards. Jubilee
Jubilee akan dibayarkan kepada Awards are paid to employees upon
pegawai setelah menyelesaikan completion of a certain number of years
sejumlah tahun masa kerjanya. Estimasi of services. Estimated Jubilee awards
penghargaan Jubilee adalah sebagai were as follows:
berikut:
2025 2024
Nilai sekarang liabilitas pensiun Present value of defined benefit
imbalan pasti 9.788.735 3.515.238 obligations
Tabel berikut ini menyajikan komponen The following table summarizes the
beban dan liabilitas imbalan kerja jangka consolidated components of employees’
panjang lainnya konsolidasian: other long term benefit expense and
liabilities:
2025 2024
Biaya jasa kini 562.338 197.151 Current service cost
Beban bunga 397.987 149.293 Interest cost
Biaya jasa lalu 152.229 654.147 Past service cost
Kerugian aktuaria yang diakui 1.651.096 – Actuarial loss recognized
Penilaian kembali atas imbalan Remeasurement of other long
jangka panjang lainnya 464.324 355.542 term employee benefits
Jumlah 3.227.974 1.356.133 Total
Mutasi liabilitas yang diakui atas beban The movements of liabilities recognized
imbalan kerja di laporan posisi keuangan for the provision for employee service
konsolidasian adalah sebagai berikut: entitlements in the consolidated
statements of financial position were as
follows:
2025 2024
Saldo awal tahun 3.515.238 2.439.209 Balance at beginning of year
Biaya imbalan kerja pada tahun Employee benefit costs for the
berjalan 3.227.974 1.356.133 year
Effect from acquisition of
Efek akuisisi anak Perusahaan 3.145.882 - subsidiary
Jumlah yang diakui pada
penghasilan komprehensif Total amount recognized in
lain - 2.041 other comprehensive income
Imbalan kerja yang dibayarkan (296.311) (113.313) Benefits paid
Effect of foreign exchange
Dampak selisih kurs 195.952 (168.832) differences
Saldo akhir tahun 9.788.735 3.515.238 Balance at end of year
231
Page 400
2025 Management Business Company Corporate
398 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
c. Undang-Undang Ketenagakerjaan dan Imbalan c. Labor Law and Other Post-employment Benefits
Pascakerja Lainnya (lanjutan) (continued)
vii. Liabilitas atas Undang-Undang vii. The Labor Law and other post-
Ketenagakerjaan dan imbalan pasca- employment benefits obligations were
kerja lainnya pada dihitung dengan calculated using the following
menggunakan asumsi sebagai berikut: assumptions:
2025 2024
Tingkat diskonto 4,81% - 7,06% 6,88% - 7,14% Discount rates
Tingkat proyeksi kenaikan gaji 5,0% - 6,0% 5,0% - 6,0% Salary increment rate
Tingkat mortalitas TMI 2019 TMI 2019 Mortality rate
Tingkat morbiditas (tingkat
disabilitas) 10 % 10 % Morbidity rate (disability rate)
tingkat mortalitas/ tingkat mortalitas/
mortality rate mortality rate
Tingkat pengunduran diri 0% - 10% 0% - 10% Resignation rate
terutama sesuai terutama sesuai
tingkat usia/ tingkat usia/
primarily in line with primarily in line with
age profile age profile
Proporsi pengambilan pensiun Proportion of normal
normal 100 % 100 % retirements
Analisa sensitivitas kuantitatif untuk The quantitative sensitivity analysis for
asumsi-asumsi yang signifikan pada significant assumptions as of December
tanggal 31 Desember 2025 dan 2024, 31, 2025 and 2024, were as follows:
adalah sebagai berikut:
Tingkat diskonto/ Kenaikan gaji dimasa depan/
Discount rates Future salary increase rate
Pengaruh nilai Pengaruh nilai
kini atas kini atas
kewajiban kewajiban
imbalan kerja/ imbalan kerja/
Effect on Effect on
present value present value
Persentase/ on benefit Persentase/ on benefit
Percentage obligation Percentage obligation
2025 2025
Kenaikan 1% (1.976.487) 1% 1.861.647 Increase
Penurunan (1)% 2.161.879 (1)% (1.737.878) Decrease
2024 2024
Kenaikan 1% (1.023.239) 1% 1.289.692 Increase
Penurunan (1)% 1.440.848 (1)% (901.358) Decrease
232
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 399
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
42. LIABILITAS IMBALAN KERJA (lanjutan) 42. EMPLOYEE BENEFITS LIABILITIES (continued)
c. Undang-Undang Ketenagakerjaan dan Imbalan c. Labor Law and Other Post-employment Benefits
Pascakerja Lainnya (lanjutan) (continued)
vii. Liabilitas atas Undang-Undang vii. The Labor Law and other post-
Ketenagakerjaan dan imbalan pasca- employment benefits obligations were
kerja lainnya pada dihitung dengan calculated using the following
menggunakan asumsi sebagai berikut: assumptions: (continued)
(lanjutan)
Jadwal jatuh tempo dari liabilitas imbalan The undiscounted maturity profile of
pasti yang tidak didiskontokan pada defined benefit obligations as of
tanggal 31 Desember 2025 dan 2024 December 31, 2025 and 2024, were as
adalah sebagai berikut: follows:
2025 2024
Kurang dari 1 tahun 1.071.011 18.578.252 Within one year
1 tahun 1.496.417 946.440 1 year
2 - 5 tahun 35.375.782 6.247.096 2 - 5 years
Lebih dari 5 tahun 59.536.339 82.161.173 More than 5 years
Jumlah 97.479.549 107.932.961 Total
Durasi rata-rata liabilitas imbalan pasti The average duration of the defined benefits
diakhir tahun pelaporan untuk Grup berkisar obligation at the end of reporting year for the
antara 1 sampai 17 tahun pada tanggal Group were approximately 1 to 17 years for
31 Desember 2025 dan berkisar antara 1 December 31, 2025, and approximately 1 to
sampai 18 tahun pada tanggal 18 years for December 31, 2024.
31 Desember 2024.
Manajemen berkeyakinan bahwa saldo Management believes that the balance of
liabilitas imbalan kerja tersebut cukup untuk employee benefits liabilities is sufficient to
memenuhi imbalan minimum sesuai dengan cover the minimum benefits required under
Undang-Undang Tenaga Kerja. the Labor Law.
233
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2025 Management Business Company Corporate
400 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
43. SIFAT HUBUNGAN DAN TRANSAKSI- 43. NATURE OF RELATIONSHIPS AND
TRANSAKSI DENGAN PIHAK-PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
a. Sifat Hubungan Berelasi a. Nature of Relationships
Pihak berelasi/ Sifat dari hubungan/ Sifat dari transaksi/
Related parties Nature of relationship Nature of transaction
PT Bank Woori Saudara Pada tanggal 31 Desember 2024, Grup Pada tanggal 31 Desember 2024, kas di bank, deposito
Indonesia 1906 1) mempunyai pemegang saham berjangka yang dibatasi penggunaannya digunakan untuk
mayoritas yang sama dengan jaminan utang karyawan dan pinjaman bank/
Perusahaan/ As of December 31, 2024, cash in bank, restricted time deposit
As of December 31, 2024, Group has used as collateral for employees’ loan and bank loan
the same majority shareholder with the
Company
PT Amman Mineral Internasional Dimiliki oleh Grup sebesar 20,92%. –
Tbk (“AMI”) PT Amman Mineral Industri adalah
entitas anak dari AMI/
20.92% owned by the group.
PT Amman Mineral Industri is a
subsidiary of AMI
PT Medco Daya Abadi Lestari Entitas induk langsung Perusahaan/ Piutang dari PT Medco Daya Abadi Lestari (“MDAL”) merupakan
(“MDAL”) Direct parent entity of the Company piutang atas penjualan 2% kepemilikan saham MGeoPS
Perusahaan ke MDAL/
Receivable from PT Medco Daya Abadi Lestari (“MDAL”)
represents the receivable on the sale of the 2% of MGeoPS
shares of the Company to MDAL
Penalti dari uang muka yang dikenakan bunga terkait transaksi
minyak mentah/
Penalty from advance with interest pertaining to crude oil
transaction
Uang muka yang dikenakan bunga terkait dengan transaksi
minyak mentah dan akan dibayarkan saat berakhirnya
perjanjian/
Advance with interest pertaining to crude oil transaction and will
be paid at the end of agreement
Pendapatan bunga/
Finance income
PT Medco Daya Sentosa (“MDS”) Mempunyai pemegang saham Biaya tagihan terkait penggantian biaya proyek/
mayoritas yang sama dengan Billing fee related to project cost reimbursement
Perusahaan/
Has the same majority shareholder with
the Company
1) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk tidak lagi 1) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk ceased to be a related
diklasifikasikan sebagai pihak berelasi bagi Grup. party of the Grup.
234
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 401
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
43. SIFAT HUBUNGAN DAN TRANSAKSI- 43. NATURE OF RELATIONSHIPS AND
TRANSAKSI DENGAN PIHAK-PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
(lanjutan) (continued)
a. Sifat Hubungan Berelasi (lanjutan) a. Nature of Relationships (continued)
Pihak berelasi/ Sifat dari hubungan/ Sifat dari transaksi/
Related parties Nature of relationship Nature of transaction
PT Medco Daya Energi Mempunyai pemegang saham Piutang operasi bersama di Blok A (Aceh)/
Nusantara (“MDEN”) mayoritas yang sama dengan Receivables from joint operations in Block A (Aceh)
Perusahaan/
Has the same majority shareholder Utang usaha dari aktivitas operasi minyak dan gas/
with the Company Trade payables from oil and gas operations
Utang ini merupakan porsi utang hasil alokasi dari biaya Grup
yang dibebankan kepada anak-anak Perusahaan/
This payable represents the portion of payables resulting from
the allocation of the Group fees charge to the subsidiaries
Pendapatan keuangan merupakan subsewa kepada mitra
operasi bersama/
Finance income pertaining to sublease to joint operation
partner
PT Medco Daya Natuna (“MDN”) Mempunyai pemegang saham Piutang operasi bersama di Laut Natuna Selatan Blok B/
mayoritas yang sama dengan Receivables from joint operations in South Natuna Sea Block
Perusahaan/ B
Has the same majority shareholder
with the Company Utang usaha dari aktivitas operasi minyak dan gas/
Trade payables from oil and gas operations
Utang ini merupakan porsi utang hasil alokasi dari biaya Grup
yang dibebankan kepada anak-anak Perusahaan/
This payable represents the portion of payables resulting from
the allocation of the Group fees charge to the subsidiaries
Pendapatan keuangan merupakan subsewa kepada mitra
operasi bersama/
Finance income pertaining to sublease to joint operation
partner
PT Medco Daya Makmur Mempunyai pemegang saham Piutang operasi bersama di Blok Sumatera Selatan/
(“MDM”) mayoritas yang sama dengan Receivables from joint operations in South Sumatera Block
Perusahaan/
Has the same majority shareholder Utang usaha dari aktivitas operasi minyak dan gas/
with the Company Trade payables from oil and gas operations
Utang kepada operasi bersama di Blok Sumatera Selatan/
Payables to joint operations in South Sumatera Block
Pendapatan keuangan merupakan subsewa kepada mitra
operasi bersama/
Finance income pertaining to sublease to joint operation
partner
Medco Daya Oman Block 60 Pte Mempunyai pemegang saham Utang usaha dari aktivitas operasi minyak dan gas/
Ltd mayoritas yang sama dengan Trade payables from oil and gas operations
Perusahaan/
Has the same majority shareholder
with the Company
235
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2025 Management Business Company Corporate
402 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
43. SIFAT HUBUNGAN DAN TRANSAKSI- 43. NATURE OF RELATIONSHIPS AND
TRANSAKSI DENGAN PIHAK-PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
(lanjutan) (continued)
a. Sifat Hubungan Berelasi (lanjutan) a. Nature of Relationships (continued)
Pihak berelasi/ Sifat dari hubungan/ Sifat dari transaksi/
Related parties Nature of relationship Nature of transaction
PT Bahtera Daya Makmur Mempunyai pemegang saham Piutang operasi bersama di Blok Rimau/
(“BDM”) mayoritas yang sama dengan Receivables from joint operations in Rimau Block
Perusahaan/
Has the same majority shareholder Piutang usaha dari aktivitas operasi minyak dan gas/
with the Company Trade receivables from oil and gas operations
Utang usaha dari aktivitas operasi minyak dan gas/
Trade payables from oil and gas operations
Utang kepada operasi bersama di Blok Rimau/
Payables to joint operations in Rimau Block
Pendapatan keuangan merupakan subsewa kepada mitra
operasi bersama/
Finance income pertaining to sublease to joint operation
partner
PT Api Metra Graha (“AMG”) Dimiliki oleh Grup sebesar 49% sejak Piutang atas jasa keamanan/
Maret 2019/ Receivable from security services
49%-owned by the Group since
March 2019 Piutang atas setoran jaminan terkait dengan perpanjangan
sewa gedung The Energy setelah masa kontraknya habis
pada tahun 2019. Pada tanggal 26 Maret 2020, piutang ini
dikonversi menjadi uang muka sewa ruangan kantor
Perusahaan di gedung The Energy untuk periode April 2020
hingga September 2029/
Booking deposit for office space lease extension in The
Energy Building which will be expired after the contract expired
in 2019. On March 26, 2020, this receivable was converted as
advance for the Company’s office space lease in The Energy
building for the period from April 2020 until September 2029
Asset hak guna atas sewa/
Right-of-use asset related to lease
Utang atas sewa ruang kantor/
Payable for office space rent
Liabilitas sewa atas sewa/
Lease liabilities related to leases
Pendapatan dari sewa ruangan kantor/
Revenue from office space lease
Pacific Medco Solar Energy Pte Pihak berelasi yang memiliki pengaruh Piutang lain-lain/
Ltd. signifikan atas entitas anak/ Other Receivables
Related party having significant
influence
PT Transportasi Gas Indonesia Dimiliki oleh Grup sebesar 40%/ Utang usaha atas biaya saluran pipa/
40% owned by the Group Trade payables related to pipeline fee
236
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 403
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
43. SIFAT HUBUNGAN DAN TRANSAKSI- 43. NATURE OF RELATIONSHIPS AND
TRANSAKSI DENGAN PIHAK-PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
(lanjutan) (continued)
b. Transaksi-transaksi dengan Pihak-pihak b. Transactions with Related Parties
Berelasi
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its related
pihak-pihak berelasi. parties.
2025 2024
Persentase Persentase
terhadap terhadap
jumlah (%)/ jumlah (%)/
Jumlah/ Percentage to Jumlah/ Percentage to
Amount related totals (%) Amount related totals (%)
Aset Assets
Kas dan setara kas Cash and cash equivalents
PT Bank Woori Saudara PT Bank Woori Saudara Indonesia
Indonesia 1906 Tbk 1) – – 67.218.675 0,847983 1906 Tbk 1)
Piutang usaha Trade receivables
PT Api Metra Graha 23.483 0,000281 8.442 0,000106 PT Api Metra Graha
Piutang lain-lain Other Receivables
PT Medco Daya Natuna 103.883.363 1,242228 54.692.852 0,689966 PT Medco Daya Natuna
PT Medco Daya Makmur 26.800.395 0,320477 28.267.514 0,356603 PT Medco Daya Makmur
PT Bahtera Daya Makmur 22.655.616 0,270914 16.499.829 0,208150 PT Bahtera Daya Makmur
Pacific Medco Solar Energy Pte
Ltd 4.271.045 0,051073 3.880.143 0,048949 Pacific Medco Solar Energy Pte Ltd
PT Medco Daya Energi Nusantara 798.597 0,009550 1.440.036 0,018166 PT Medco Daya Energi Nusantara
PT Api Metra Graha 196.034 0,002344 196.034 0,002473 PT Api Metra Graha
PT Medco Daya Sentosa 164.396 0,001966 – – PT Medco Daya Sentosa
PT Medco Daya Abadi Lestari – – 4.680.807 0,059050 PT Medco Daya Abadi Lestari
Uang muka kepada pihak berelasi Advances to a related Party
PT Medco Daya Abadi Lestari 62.346.323 0,745532 86.649.781 1,093112 PT Medco Daya Abadi Lestari
Aset hak guna Right-of-use assets
PT Api Metra Graha 24.093.205 0,288104 9.274.534 0,117001 PT Api Metra Graha
Setoran jaminan Security Deposits
PT Api Metra Graha 1.104.496 0,013207 1.747.309 0,022043 PT Api Metra Graha
237
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2025 Management Business Company Corporate
404 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
43. SIFAT HUBUNGAN DAN TRANSAKSI- 43. NATURE OF RELATIONSHIPS AND
TRANSAKSI DENGAN PIHAK-PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
(lanjutan) (continued)
b. Transaksi-transaksi dengan Pihak-pihak b. Transactions with Related Parties (continued)
Berelasi (lanjutan)
2025 2024
Persentase Persentase
terhadap terhadap
jumlah (%)/ jumlah (%)/
Jumlah/ Percentage to Jumlah/ Percentage to
Amount related totals (%) Amount related totals (%)
Liabilitas Liabilities
Pinjaman Bank Bank loans
PT Bank Woori Saudara PT Bank Woori Saudara Indonesia
Indonesia 1906 Tbk 1) – – 3.250.000 0,058287 1906 Tbk 1)
Utang usaha Trade payables
Medco Daya Oman Block 60 Pte
Ltd 36.733.109 0,611958 16.744.412 0,300302 Medco Daya Oman Block 60 Pte Ltd
PT Medco Daya Energi Nusantara 1.409.130 0,023476 1.807.182 0,032411 PT Medco Daya Energi Nusantara
PT Transportasi Gas Indonesia 1.326.289 0,022095 1.329.841 0,023850 PT Transportasi Gas Indonesia
PT Medco Daya Natuna 1.048.052 0,017460 7.769.147 0,139335 PT Medco Daya Natuna
PT Medco Daya Abadi Lestari 137.872 0,002297 – – PT Medco Daya Abadi Lestari
PT Medco Daya Makmur – – 5.575.641 0,099996 PT Medco Daya Makmur
PT Bahtera Daya Makmur – – 4.543.295 0,081482 PT Bahtera Daya Makmur
Utang lain-lain Other payables
PT Medco Daya Natuna 17.438.114 0,290512 3.343.292 0,059960 PT Medco Daya Natuna
PT Medco Daya Makmur 12.181.955 0,202946 9.566.698 0,171574 PT Medco Daya Makmur
PT Medco Daya Energi Nusantara 1.354.195 0,022560 1.254.360 0,022496 PT Medco Daya Energi Nusantara
PT Bahtera Daya Makmur 917.355 0,015283 873.957 0,015674 PT Bahtera Daya Makmur
PT Api Metra Graha 82.959 0,001382 128.901 0,002312 PT Api Metra Graha
PT Medco Daya Abadi Lestari – – 1.033 0,000019 PT Medco Daya Abadi Lestari
Liabilitas sewa jangka panjang Long-term lease liabilities
PT Api Metra Graha 24.199.474 0,403153 9.279.999 0,166432 PT Api Metra Graha
Transaksi Transactions
Pendapatan dari jasa Revenue from services
PT Medco Daya Natuna 2.220.782 0,092724 649.596 0,027076 PT Medco Daya Natuna
PT Bahtera Daya Makmur 263.098 0,010985 98.704 0,004114 PT Bahtera Daya Makmur
PT Medco Daya Makmur 72.130 0,003012 10.476 0,000437 PT Medco Daya Makmur
PT Medco Daya Energi Nusantara – – 18.595 0,000775 PT Medco Daya Energi Nusantara
Biaya pembelian minyak mentah Cost of crude oil purchase
Medco Daya Oman Block 60 Pte
Ltd 208.492.185 14,290809 139.271.962 9,501931 Medco Daya Oman Block 60 Pte Ltd
PT Medco Daya Abadi Lestari 83.736.068 5,739573 75.499.997 5,151042 PT Medco Daya Abadi Lestari
PT Medco Daya Energi Nusantara – – 3.331.355 0,227284 PT Medco Daya Energi Nusantara
Sewa ruang kantor Office space lease
PT Api Metra Graha 7.322.101 0,501883 4.237.735 0,289123 PT Api Metra Graha
Pendapatan bunga Finance income
PT Medco Daya Abadi Lestari 4.481.978 13,145768 12.177.842 14,181975 PT Medco Daya Abadi Lestari
1) Efektif pada tahun 2025, PT Bank Woori Saudara Indonesia 1906 Tbk tidak lagi 1) Effective in 2025, PT Bank Woori Saudara Indonesia 1906 Tbk ceased to be a related
diklasifikasikan sebagai pihak berelasi bagi Grup. party of the Grup.
238
Page 407
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 405
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
43. SIFAT HUBUNGAN DAN TRANSAKSI- 43. NATURE OF RELATIONSHIPS AND
TRANSAKSI DENGAN PIHAK-PIHAK BERELASI TRANSACTIONS WITH RELATED PARTIES
(lanjutan) (continued)
c. Kompensasi manajemen kunci c. Compensation to key management
Manajemen kunci terdiri dari Komisaris dan Key management pertains to the
Direksi Perusahaan. Commissioners and Directors of the Company.
Jumlah kompensasi dan imbalan lain kepada The total compensation and other benefits for
Dewan Komisaris dan Direksi untuk tahun yang the Commissioners and Directors for the years
berakhir pada tanggal 31 Desember 2025 dan ended December 31, 2025 and 2024, consist of:
2024 terdiri dari:
2025 2024
Dewan Komisaris Board of Commissioners
Imbalan jangka pendek 5.163.748 3.113.155 Short-term compensations
Sub-Jumlah 5.163.748 3.113.155 Sub-total
Dewan Direksi Board of Directors
Imbalan jangka pendek 26.113.937 24.167.970 Short-term compensations
Imbalan pasca-kerja (pencadangan) 2.887.825 2.450.494 Post-retirement benefits (provision)
Sub-Jumlah 29.001.762 26.618.464 Sub-total
Pembayaran berbasis saham untuk Share-based payments for
Komisaris dan Direksi 4.081.279 4.924.082 Commissioners and Directors
Jumlah 38.246.789 34.655.701 Total
239
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2025 Management Business Company Corporate
406 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
44. INFORMASI SEGMEN 44. SEGMENT INFORMATION
Grup mengklasifikasikan dan mengevaluasi The Group classifies and evaluates its financial
informasi keuangan mereka menjadi pelaporan information into reportable operating segments
segmen usaha yang dikelompokkan menjadi enam which are grouped into six (6) strategic business
(6) kelompok bisnis strategis: groups:
a. Segmen Usaha a. Operating Segments
Grup bergerak di bidang usaha sebagai berikut: The Group is engaged in the following business
activities:
i. Eksplorasi dan produksi minyak dan gas i. Exploration and production of oil and gas
bumi
ii. Jasa ii. Services
iii. Listrik iii. Power
iv. Kimia iv. Chemicals
v. Perdagangan v. Trading
vi. Holding dan operasional terkait vi. Holding and related operations
Segmen usaha dari operasi yang dihentikan The operating segments of discontinued
dan/atau dimiliki untuk dijual adalah sebagai operations and/or held for sale are as follows
berikut (Catatan 39): (Note 39):
Entitas anak/ Segmen/ Periode/
Subsidiaries Segment Period
31 Desember 2025 dan 2024/
PT Medco Methanol Bunyu Kimia/Chemicals
December 31, 2025 and 2024
31 Desember 2025 dan 2024/
PT Medco LPG Kaji Kimia/Chemicals
December 31, 2025 and 2024
31 Desember 2025 dan 2024/
PT Medco Ethanol Lampung Kimia/Chemicals
December 31, 2025 and 2024
31 Desember 2025 dan 2024/
PT Medco Downstream Ind. Kimia/Chemicals
December 31, 2025 and 2024
Informasi geografis dari operasi yang dihentikan The geographical information of discontinued
dan dimiliki untuk dijual adalah sebagai berikut operations and held for sale are as follows
(Catatan 39): (Note 39):
Entitas anak/ Informasi Geografis/ Periode/
Subsidiaries Geographical Information Period
Amerika Serikat/United 31 Desember 2025 dan 2024/
Medco Energi US LLC
States of America (USA) December 31, 2025 and 2024
Amerika Serikat/United 31 Desember 2025 dan 2024/
Medco Energi USA Inc
States of America (USA) December 31, 2025 and 2024
31 Desember 2024/
Ophir Vietnam Block 12W B.V. Vietnam
December 31, 2024
Afrika dan Timur Tengah/ 31 Desember 2025 dan 2024/
MIVL Libya Branch
Africa and Middle East December 31, 2025 and 2024
240
Page 409
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 407
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
44. INFORMASI SEGMEN (lanjutan) 44. SEGMENT INFORMATION (continued)
a. Segmen Usaha (lanjutan) a. Operating Segments (continued)
2025
Eksplorasi
dan produksi Holding
minyak dan dan
gas bumi/ operasional Operasi
Exploration terkait/ yang
for and Holding dihentikan/
production Jasa/ Listrik/ Perdagangan/ and related Discontinued Eliminasi/ Konsolidasi/
of oil and gas Service Power Trading operations operations Elimination Consolidation
Penjualan eksternal/
External sales 1.525.515.157 24.848.155 177.616.056 667.056.601 – – – 2.395.035.969
Penjualan antar segmen/
Intersegment sales 344.084.562 34.543.174 11.654 – – – (378.639.390) –
Jumlah penjualan dan
pendapatan usaha
lainnya/
Total sales and other
operating revenues 1.869.599.719 59.391.329 177.627.710 667.056.601 – – (378.639.390) 2.395.035.969
Laba kotor/
Gross profit 837.019.186 12.670.172 89.904.235 9.380.250 – – (12.862.923) 936.110.920
Beban penjualan, umum dan
administrasi/
Selling, general and
administrative expenses (131.802.326) (4.888.572) (41.751.661) (5.863.024) (73.707.435) – 30.398.676 (227.614.342)
Keuntungan (Kerugian) atas
penyesuaian nilai wajar
aset keuangan/
Gain (Loss) on fair value
adjustment of financial
assets – 21.423.215 1.292.171 – – – – 22.715.386
Kerugian penurunan nilai
aset/
Loss on impairment of assets (37.191.112) (90.494.224) (1.099.792) – – – – (128.785.128)
Bagian laba (rugi) dari entitas
entitas asosiasi dan
ventura bersama/
Share of net income (loss) of
associate and joint
venture (18.989) 28.392.756 3.693.318 – 55.862.498 – – 87.929.583
Pendapatan bunga/
Interest income 12.110.933 831.316 6.913.203 8.711.876 7.781.254 – (2.254.126) 34.094.456
Beban pendanaan/
Finance costs (172.410.176) (5.408.695) (48.120.028) (25.391.430) (75.163.736) – 2.254.651 (324.239.414)
Pendapatan dividen/
Dividend income – 20.590.500 – – 76.991.200 – (76.991.200) 20.590.500
Pendapatan lain-lain/
Other income 10.427.051 – 6.294.736 485.206 26.960.494 – (22.595.274) 21.572.213
Beban lain-lain/
Other expenses (20.864.438) (126.816) 4.910.003 (517.326) (21.771.076) – – (38.369.653)
Laba (rugi) sebelum manfaat
(beban) pajak
penghasilan dari
operasi yang
dilanjutkan/
Profit (loss) before income
tax benefit (expense)
from continuing
operations 497.270.129 (17.010.348) 22.036.185 (13.194.448) (3.046.801) – (82.050.196) 404.004.521
241
Page 410
2025 Management Business Company Corporate
408 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
44. INFORMASI SEGMEN (lanjutan) 44. SEGMENT INFORMATION (continued)
a. Segmen Usaha (lanjutan) a. Operating Segments (continued)
2025
Eksplorasi
dan produksi Holding
minyak dan dan
gas bumi/ operasional Operasi
Exploration Jasa dan terkait/ yang
for and lainnya/ Holding dihentikan/
production Service and Listrik/ Perdagangan/ and related Discontinued Eliminasi/ Konsolidasi/
of oil and gas others Power Trading operations operations Elimination Consolidation
Beban pajak penghasilan/
Income tax expense (279.914.398) (9.223.510) (7.829.270) (677.545) 7.075.828 – – (290.568.895)
Kepentingan
nonpengendali/
Non-controlling interests (6.148.605) 7.241.837 (13.713.400) – – – – (12.620.168)
Laba (rugi) setelah beban
pajak penghasilan
dari operasi yang
Profit dihentikan/
(loss) after income
tax expense from
discontinued
operations – – – – – (81.941.656) 82.050.196 108.540
LABA (RUGI) PERIODE
BERJALAN YANG
DIATRIBUSIKAN
KEPADA PEMILIK
ENTITAS INDUK/
PROFIT (LOSS) FOR
THE PERIOD
ATTRIBUTABLE
TO OWNERS OF
THE PARENT
COMPANY 211.207.126 (18.992.021) 493.515 (13.871.993) 4.029.027 (81.941.656) – 100.923.998
Aset segmen/
Segment assets 15.378.886.584 323.439.283 1.131.857.315 1.418.427.794 9.257.633.088 753.208 (21.014.509.052) 6.496.488.220
Investasi jangka panjang/
Long-term investments 277.188 428.309.853 161.739.317 – 1.275.848.487 – – 1.866.174.845
JUMLAH ASET/
TOTAL ASSETS 15.379.163.772 751.749.136 1.293.596.632 1.418.427.794 10.533.481.575 753.208 (21.014.509.052) 8.362.663.065
LIABILITAS
Liabilitas segmen/
LIABILITIES
Segment liabilities 11.684.783.349 1.417.824.128 801.102.470 3.725.222.123 9.306.517.071 81.611.470 (21.014.509.052) 6.002.551.559
Pembelian barang modal/
Capital expenditures 411.505.353 83.201.718 23.813.880 – 257.795 – – 518.778.746
Penyusutan, deplesi dan
amortisasi/
Depreciation, depletion
and amortization 536.175.637 5.780.008 9.271.597 815.969 3.447.355 – – 555.490.566
Transaksi non kas selain
depresiasi, deplesi
dan amortisasi/
Non-cash transactions
other than
depreciation,
depletion and
amortization 19.880.106 313.417 1.318.896 – 2.035.163 – – 23.547.582
242
Page 411
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 409
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
44. INFORMASI SEGMEN (lanjutan) 44. SEGMENT INFORMATION (continued)
a. Segmen Usaha (lanjutan) a. Operating Segments (continued)
2024 (Direklasifikasikan kembali/ As Reclassified)
Eksplorasi
dan produksi Holding
minyak dan dan
gas bumi/ operasional Operasi
Exploration Jasa dan terkait/ yang
for and lainnya/ Holding dihentikan/
production Service and Listrik/ Perdagangan/ and related Discontinued Eliminasi/ Konsolidasi/
of oil and gas others Power Trading operations operations Elimination Consolidation
Penjualan eksternal/
External sales 1.501.334.688 14.612.380 204.624.673 678.618.814 – – – 2.399.190.555
Penjualan antar segmen/
Intersegment sales 337.100.074 20.953.518 12.116 – – – (358.065.708) –
Jumlah penjualan dan
pendapatan usaha
lainnya/
Total sales and other
operating revenues 1.838.434.762 35.565.898 204.636.789 678.618.814 – – (358.065.708) 2.399.190.555
Laba kotor/
Gross profit 853.636.763 2.870.295 73.369.843 9.974.299 – – (6.383.411) 933.467.789
Beban penjualan, umum dan
administrasi/
Selling, general and
administrative expenses (114.652.881) (3.966.702) (38.817.875) (7.670.238) (79.376.274) – 27.593.471 (216.890.499)
Keuntungan atas
penyesuaian nilai wajar
aset keuangan/
Gain on fair value adjustment
of financial assets – 17.825.902 – – 12.132.000 – – 29.957.902
Kerugian penurunan nilai
aset/
Loss on impairment of assets (19.885.063) (1.181.781) (8.388.325) – – – – (29.455.169)
Bagian laba (rugi) dari entitas
entitas asosiasi dan
ventura bersama/
Share of net income (loss) of
associate and joint
venture (27.537.535) 1.804.319 2.751.449 – 136.083.030 – – 113.101.263
Pendapatan bunga/
Interest income 70.212.910 1.590.340 3.801.747 15.647.973 5.612.760 – (10.997.283) 85.868.447
Keuntungan pembelian
diskon/
Bargain purchase 51.586.361 – – – – – – 51.586.361
Beban pendanaan/
Finance costs (188.163.858) (11.107.357) (43.371.805) (19.424.794) (56.263.552) – 10.998.607 (307.332.759)
Pendapatan dividen/
Dividend income 1.309.215 18.870.000 – – 157.670.668 – (158.979.883) 18.870.000
Kerugian dari kombinasi
bisnis secara bertahap/
Loss on business
combination achieved in
stages (15.440.850) – – – — – – (15.440.850)
Pendapatan lain-lain/
Other income 32.088.597 1.152.163 8.262.563 — 30.742.600 – (43.791.123) 28.454.800
Beban lain-lain/
Other expenses (14.900.400) – (2.390.570) (501.621) (3.344.305) – – (21.136.896)
243
Page 412
2025 Management Business Company Corporate
410 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
44. INFORMASI SEGMEN (lanjutan) 44. SEGMENT INFORMATION (continued)
a. Segmen Usaha (lanjutan) a. Operating Segments (continued)
2024 (Direklasifikasikan kembali/ As Reclassified)
Eksplorasi
dan produksi Holding
minyak dan dan
gas bumi/ operasional Operasi
Exploration Jasa dan terkait/ yang
for and lainnya/ Holding dihentikan/
production Service and Listrik/ Perdagangan/ and related Discontinued Eliminasi/ Konsolidasi/
of oil and gas others Power Trading operations operations Elimination Consolidation
Laba (rugi) sebelum
manfaat (beban)
pajak penghasilan
dari operasi yang
dilanjutkan/
Profit (loss) before
income tax benefit
(expense) from
continuing
operations 628.253.259 27.857.179 (4.782.973) (1.974.381) 203.256.927 – (181.559.622) 671.050.389
Beban pajak penghasilan/
Income tax expense (285.999.110) (5.173.968) (3.374.784) (736.146) 5.944.275 – – (289.339.733)
Kepentingan
nonpengendali/
Non-controlling interests (4.005.813) 908.428 (9.750.862) – – – – (12.848.247)
Laba setelah beban pajak
penghasilan dari
operasi yang
dihentikan/
Profit after income tax
expense from
discontinued
operations – – – – – (183.063.763) 181.559.622 (1.504.141)
LABA (RUGI) PERIODE
BERJALAN YANG
DIATRIBUSIKAN
KEPADA PEMILIK
ENTITAS INDUK/
PROFIT (LOSS) FOR
THE PERIOD
ATTRIBUTABLE
TO OWNERS OF
THE PARENT
COMPANY 338.248.336 23.591.639 (17.908.619) (2.710.527) 209.201.202 (183.063.763) – 367.358.268
Aset segmen/
Segment assets 13.555.913.924 277.940.941 1.058.926.980 1.246.195.315 6.857.536.936 1.065.050 (17.006.172.880) 5.991.406.266
Investasi jangka panjang/
Long-term investments 297.992 422.614.210 160.542.321 – 1.352.029.576 – – 1.935.484.099
JUMLAH ASET/
TOTAL ASSETS 13.556.211.916 700.555.151 1.219.469.301 1.246.195.315 8.209.566.512 1.065.050 (17.006.172.880) 7.926.890.365
LIABILITAS
Liabilitas segmen/
LIABILITIES
Segment liabilities 10.288.051.275 1.315.876.042 731.793.874 3.083.694.257 6.879.414.950 283.201.278 (17.006.172.880) 5.575.858.796
Pembelian barang modal/
Capital expenditures 357.730.160 1.347.926 34.940.912 3.862 610.960 – – 394.633.820
Penyusutan, deplesi dan
amortisasi/
Depreciation, depletion
and amortization 537.490.079 4.366.002 9.087.599 816.614 3.495.821 – – 555.256.115
Transaksi non kas selain
depresiasi, deplesi
dan amortisasi/
Non-cash transactions
other than
depreciation,
depletion and
amortization 20.492.008 6.960 1.189.266 (345.159) 1.915.974 – – 23.259.049
244
Page 413
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 411
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
44. INFORMASI SEGMEN (lanjutan) 44. SEGMENT INFORMATION (continued)
b. Segmen Geografis b. Geographic Segments
Pendapatan Revenues
2025 2024
Indonesia 1.087.303.595 1.115.280.199 Indonesia
Luar negeri Overseas
Asia 1.139.435.053 1.069.056.041 Asia
Afrika dan Timur Tengah 168.297.321 188.417.198 Africa and Middle East
Amerika Serikat dan Eropa - 26.437.117 United States of America and Europe
Jumlah 2.395.035.969 2.399.190.555 Total
Jumlah Aset Total Assets
2025 2024
Indonesia 15.646.743.304 11.763.777.452 Indonesia
Luar negeri Overseas
Asia 12.265.149.053 11.257.994.329 Asia
Afrika dan Timur Tengah 1.026.186.360 1.000.538.963 Africa and Middle East
United States of America and
Amerika Serikat dan Eropa 439.093.400 4.221.268 Europe
Jumlah 29.377.172.117 24.026.532.012 Total
Eliminasi (21.014.509.052) (16.099.641.647) Elimination
Setelah eliminasi 8.362.663.065 7.926.890.365 After elimination
Pada tahun 2025, Grup melakukan perubahan In 2025, Group changes its internal Group structure
dalam struktur organisasi internal Grup yang that cause the composition of its reportable
menyebabkan komposisi segmen yang dilaporkan segment change, the Group reclassified its
berubah, Grup mereklasifikasikan kembali segmen operating segment for the year ended December
usaha untuk tahun yang berakhir pada tanggal 31 31, 2024 to reflect the change of its reportable
Desember 2024 untuk mencerminkan perubahan segment composition. The reclassification has no
dalam komposisi segmen tersebut. Reklasifikasi impact on the Group’s consolidated revenue, profit
tersebut tidak berdampak terhadap pada for the year, total assets, or cash flows.
pendapatan, laba tahun berjalan, total aset,
maupun arus kas konsolidasian Grup.
245
Page 414
2025 Management Business Company Corporate
412 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
45. ASET DAN LIABILITAS MONETER DALAM 45. MONETARY ASSETS AND LIABILITIES
MATA UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities
mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows:
2025
Dalam mata uang aslinya
Setara AS$
(dalam jutaan)/
(dalam satuan
In original currency (in millions)
penuh)/
Rupiah/ US$ Equivalent
Lain-lain/Others
Rupiah (full amount)
Aset Assets
Kas dan setara kas 2.355.718 53 144.786.552 Cash and cash equivalents
Deposito dan rekening bank yang Restricted time deposits and cash in
dibatasi penggunaannya 85.710 – 5.107.280 banks
Piutang usaha 362.838 – 21.620.647 Trade receivables
Piutang lain-lain 1.822.171 100 113.755.262 Other receivables
Liabilitas Liabilities
Utang usaha (565.320) (200) (40.242.431) Trade payables
Utang pajak (259.413) (144) (20.014.680) Taxes payable
Accrued expenses and other
Biaya akrual dan provisi lain-lain (1.751.765) (147) (106.876.644) provision
Pinjaman jangka panjang lainnya (10.526.490) – (627.248.838) Other long-term debt
Pinjaman bank (18.558.590) – (1.105.862.857) Bank loans
Liabilitas Neto (27.035.141) (338) (1.614.975.709) Net Liabilities
2024
Dalam mata uang aslinya
Setara AS$
(dalam jutaan)/
(dalam satuan
In original currency (in millions)
penuh)/
Rupiah/ US$ Equivalent
Lain-lain/Others
Rupiah (full amount)
Aset Assets
Kas dan setara kas 1.538.407 150 102.208.166 Cash and cash equivalents
Deposito dan rekening bank yang Restricted time deposits and cash in
dibatasi penggunaannya 24.770 – 1.532.603 banks
Piutang usaha 295.083 – 18.257.842 Trade receivables
Piutang lain-lain 1.702.179 87 109.727.012 Other receivables
Liabilitas Liabilities
Utang usaha (791.136) (72) (52.457.784) Trade payables
Utang pajak (212.825) (233) (20.024.651) Taxes payable
Accrued expenses and other
Biaya akrual dan provisi lain-lain (867.582) – (53.680.361) provision
Pinjaman jangka panjang lainnya (8.795.795) – (544.226.893) Other long-term debt
Pinjaman bank (11.640.522) – (720.240.178) Bank loans
Liabilitas Neto (18.747.421) (68) (1.158.904.244) Net Liabilities
246
Page 415
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 413
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN 46. FINANCIAL INSTRUMENTS
a. Nilai Wajar atas Instrumen Keuangan a. Fair Values of Financial Instruments
Tabel berikut menyajikan klasifikasi instrumen The following table presents the classification of
keuangan dan membandingkan nilai tercatat financial instruments and compare the carrying
dan estimasi nilai wajar dari instrumen amounts and estimated fair values of the
keuangan Grup yang dicatat di laporan posisi financial instruments of the Group that are
keuangan konsolidasian 31 Desember 2025 carried in the consolidated statements of
dan 2024: financial position as of December 31, 2025 and
2024:
2025 2024
Nilai Tercatat/ Nilai Tercatat/
Carrying Nilai Wajar/ Carrying Nilai Wajar/
Amounts Fair Value Amounts Fair Value
Aset Keuangan Financial Assets
Aset lancar Current assets
Piutang sewa
pembiayaan 32.938.882 32.938.882 30.826.137 30.826.137 Finance lease receivables
Concession financial
Aset keuangan konsesi 34.124.246 34.124.246 33.383.537 33.383.537 assets
Investasi jangka pendek – – 11.025.523 11.025.523 Short-term investments
Aset derivatif 1.365.489 1.365.489 1.873.705 1.873.705 Derivative assets
Aset tidak lancar Non-current assets
Piutang sewa
pembiayaan 207.339.725 275.098.424 119.966.586 135.982.600 Finance lease receivables
Concession financial
Aset keuangan konsesi 555.229.858 600.194.763 547.347.966 625.066.681 assets
Investasi jangka panjang 182.658.159 182.658.159 180.838.190 180.838.190 Long-term investment
Aset derivatif 18.446.924 18.446.924 25.924.201 25.924.201 Derivative assets
Jumlah Aset Keuangan 1.032.103.283 1.144.826.887 951.185.845 1.044.920.574 Total Financial Assets
Liabilitas Keuangan Financial Liabilities
Liabilitas jangka
pendek Current liabilities
Pinjaman bank jangka
pendek 2.979.383 2.979.383 54.691.856 54.691.856 Short-term bank loan
Pinjaman jangka panjang
yang jatuh tempo Current maturities of long-
dalam satu tahun: term debt:
Pinjaman bank 196.398.717 196.398.717 162.501.916 162.501.916 Bank loans
Pinjaman dari instansi Loan from a non-bank
keuangan non-bank 4.019.024 4.019.024 14.871 14.871 financial institution
Obligasi Rupiah 48.316.555 48.316.555 211.478.310 211.478.310 Rupiah bonds
Obligasi Dolar AS 91.563.279 91.563.279 – – US Dollar bonds
Liabilitas derivatif 6.606.096 6.606.096 12.653.816 12.653.816 Derivative liabilities
Liabilitas jangka
panjang Non-current liabilities
Pinjaman jangka
panjang: Long-term debts:
Pinjaman bank 1.410.351.161 1.334.914.597 1.028.429.769 982.922.113 Bank loans
Pinjaman dari instansi Loan from a non-bank
keuangan non-bank 100.971.156 73.132.741 69.990.180 42.479.051 financial institution
Obligasi Rupiah 575.633.622 601.358.347 330.777.880 336.830.716 Rupiah bonds
Obligasi Dolar AS 1.216.079.467 1.297.054.193 1.442.197.561 1.503.895.960 US Dollar bonds
Liabilitas derivatif 45.910.312 45.910.312 30.742.102 30.742.102 Derivative liabilities
Jumlah Liabilitas
Keuangan 3.698.828.772 3.702.253.244 3.343.478.261 3.338.210.711 Total Financial Liabilities
247
Page 416
2025 Management Business Company Corporate
414 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
a. Nilai Wajar atas Instrumen Keuangan a. Fair Values of Financial Instruments
(lanjutan) (continued)
Metode dan asumsi berikut ini digunakan untuk The following methods and assumptions were
mengestimasi nilai wajar untuk kelompok used to estimate the fair value of each class of
instrumen keuangan yang praktis untuk financial instruments for which it is practicable to
memperkirakan nilai tersebut: estimate such value:
i. Instrumen keuangan dicatat pada nilai i. Financial instruments carried at fair value
wajar
Investasi jangka pendek diukur pada Short-term investments are measured at
harga kuotasian yang dipublikasikan pada published quoted market prices in an
pasar aktif. active market.
Instrumen derivatif diukur pada nilai Fair values of derivative instruments are
wajarnya berdasarkan teknik penilaian estimated using appropriate valuation
yang wajar dengan nilai input pasar yang techniques with market observable inputs.
dapat diobservasi.
Pada tanggal 31 Desember 2025 dan As of December 31, 2025 and 2024, the
2024, nilai wajar investasi jangka panjang fair value of the equity investment in
di DSLNG ditentukan menggunakan arus DSLNG is determined using a discounted
kas yang didiskontokan dan metode cash flow model and Guideline Publicly
Guideline Publicly Traded Companies Traded Companies (GPTC) method. The
(GPTC). Penilaian tersebut mengharuskan valuation requires management to make
manajemen untuk membuat asumsi certain assumptions about the model
tertentu tentang input model, termasuk inputs, including forecast cash flows, the
perkiraan arus kas, tingkat diskonto, risiko discount rate, credit risk, and volatility. The
kredit, dan volatilitas. Probabilitas dari probabilities of the various estimates within
berbagai estimasi dalam kisaran tersebut the range can be reasonably assessed
dapat dinilai secara wajar dan digunakan and are used in management’s estimate of
dalam estimasi manajemen atas nilai fair value for these non-listed equity
wajar untuk investasi ekuitas yang tidak investments.
terdaftar ini.
Pada tanggal 31 Desember 2024, nilai As of December 31, 2024, the fair value of
wajar investasi jangka panjang di SMCN the equity investment in SMCN is
ditentukan menggunakan pendekatan determined using market approach using
pasar dengan menggunakan metode Guideline Publicly Traded Companies
Guideline Publicly Traded Companies (GPTC) method. Under the market
(GPTC). Berdasarkan metode pendekatan approach GPTC method, the fair value is
pasar GPTC, nilai wajar diperoleh dari derived from trading price multiples of
harga perdagangan sejumlah perusahaan selected set of comparable public
publik yang sebanding (yaitu perusahaan companies (i.e. guideline companies) to
pemandu) dengan objek penilaian pada the valuation object at the valuation date.
tanggal penilaian.
ii. Pinjaman dan utang ii. Loans and borrowings
Nilai wajar dari pinjaman jangka panjang The fair values of long-term debts (bank
(pinjaman bank, pinjaman dari instansi loans, loan from a non-bank institution,
keuangan non-bank, dan wesel jangka and medium-term notes), are determined
menengah) dihitung berdasarkan arus kas based on discounted cash flows method.
yang didiskontokan.
Nilai wajar dari pinjaman jangka panjang The fair values of long-term debts (Rupiah
(obligasi Rupiah dan obligasi Dolar AS) bonds and US Dollar bonds), are
dihitung berdasarkan harga kuotasian determined based on published quoted
yang dipublikasikan pada pasar aktif. market prices in an active market.
248
Page 417
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 415
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
a. Nilai Wajar atas Instrumen Keuangan a. Fair Values of Financial Instruments
(lanjutan) (continued)
Metode dan asumsi berikut ini digunakan untuk The following methods and assumptions were
mengestimasi nilai wajar untuk kelompok used to estimate the fair value of each class of
instrumen keuangan yang praktis untuk financial instruments for which it is practicable to
memperkirakan nilai tersebut: (lanjutan) estimate such value: (continued)
ii. Pinjaman dan utang (lanjutan) ii. Loans and borrowings (continued)
Liabilitas sewa diestimasi menggunakan Lease liabilities are estimated using a
model diskonto arus kas. discounted cash flow model.
Pada tanggal 31 Desember 2025 dan 2024, As of December 31, 2025 and 2024, the
nilai tercatat instrumen keuangan berikut ini carrying amount of the following financial
mendekati nilai wajarnya: instruments is a reasonable approximation of its
fair value:
i. Instrumen keuangan yang jatuh tempo i. Financial instruments with short-term
dalam jangka pendek maturities
Nilai wajar kas dan setara kas, deposito Fair values of cash and cash equivalents,
dan rekening bank yang dibatasi restricted time deposits and cash in banks,
penggunaannya, piutang usaha dan lain- trade and other receivables (excluding
lain (kecuali PPN yang dapat ditagihkan), reimbursable VAT), short-term bank loans,
pinjaman bank jangka pendek, utang trade and other payables, and accrued
usaha dan utang lain-lain, dan biaya expenses approximate their carrying
akrual mendekati nilai tercatatnya karena amounts due to the short-term maturities
jatuh temponya dalam jangka pendek dan and nature of the financial instruments.
sifat instrumen keuangan tersebut.
ii. Instrumen keuangan lainnya ii. Other financial instrument
Nilai wajar dari bagian tidak lancar setoran The fair values of non-current security
jaminan (termasuk pada Aset Lain-lain) deposits (included in Other Assets), are
adalah sama dengan nilai tercatat karena the same as their carrying amounts
nilai wajarnya tidak dapat diukur secara because their fair values cannot be
andal, tanpa menimbulkan biaya yang measured reliably, without incurring
berlebihan. Tidak praktis untuk excessive costs. It is not practical to
memperkirakan nilai wajar dari instrumen estimate the fair value of these instruments
ini dikarenakan instrumen ini tidak memiliki because there are no fixed repayment
jangka waktu pembayaran yang tetap, terms, although these are not expected to
meskipun tidak diharapkan dapat be settled within twelve (12) months after
diselesaikan dalam waktu dua belas (12) financial reporting date.
bulan setelah tanggal pelaporan.
Aset keuangan yang nilai wajarnya Financial assets for which fair values are
diungkapkan: disclosed:
Aset keuangan konsesi diestimasi Concession financial assets are estimated using
menggunakan model diskonto arus kas. a discounted cash flow model. The valuation
Penilaian tersebut mengharuskan manajemen requires management to make certain
untuk membuat asumsi tertentu tentang input assumptions about the model inputs, including
model, termasuk perkiraan arus kas, tingkat forecast cash flows, the discount rate, credit
diskonto, risiko kredit, dan volatilitas. risk, and volatility. The probabilities of the
Probabilitas dari berbagai estimasi dalam various estimates within the range can be
kisaran tersebut dapat dinilai secara wajar dan reasonably assessed and are used in
digunakan dalam estimasi manajemen atas nilai management’s estimate of fair value.
wajar.
249
Page 418
2025 Management Business Company Corporate
416 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
a. Nilai Wajar atas Instrumen Keuangan a. Fair Values of Financial Instruments
(lanjutan) (continued)
Hierarki nilai wajar pada tanggal The hierarchy of fair value as of
31 Desember 2025 dan 2024 adalah sebagai December 31, 2025 and 2024, are as follows:
berikut:
2025
Harga pasar yang Input yang
dikuotasikan signifikan dan Input yang
untuk aset dapat diobservasi signifikan
dan liabilitas secara langsung tetapi tidak
yang sama maupun tidak dapat
(Level 1)/ langsung diobservasi
Market value (Level 2)/ (Level 3)/
quotation for Significant Significant
similar input and input
assets and observable directly but
Jumlah/ liabilities or indirectly unobservable
Total (Level 1) (Level 2) (Level 3)
Aset diukur pada nilai Assets measured at fair
wajar value
Aset Keuangan Financial Assets
Piutang sewa pembiayaan 308.037.306 - - 308.037.306 Finance lease receivables
Investasi jangka panjang 182.658.159 - - 182.658.159 Long-term investment
Derivatif pada lindung Derivatives in effective
nilai efektif hedge
Aset derivatif 19.812.413 - 19.812.413 - Derivative assets
Liabilitas diukur pada Liabilities measured at
nilai wajar fair value
Liabilitas keuangan Financial Liabilities
Derivatif pada lindung Derivatives in effective
nilai efektif hedge
Liabilitas derivatif 52.516.408 - 52.516.408 - Derivative liabilities
Aset yang nilai wajarnya Assets for which fair
diungkapkan value is disclosed
Aset keuangan Financial Assets
Concession financial
Aset keuangan konsesi 634.319.009 - - 634.319.009 assets
Liabilitas yang nilai Liabilities for which fair
wajarnya diungkapkan value is disclosed
Liabilitas keuangan Financial Liabilities
Pinjaman bank jangka
pendek 2.979.383 2.979.383 - - Short-term bank loan
Pinjaman jangka panjang
yang jatuh tempo dalam Current maturities of long-
satu tahun: term debt:
Pinjaman bank 196.398.717 - 196.398.717 - Bank loans
Pinjaman dari instansi Loans from non-bank
keuangan non-bank 4.019.024 - 4.019.024 - financial institution
Obligasi Rupiah 48.316.555 48.316.555 - - Rupiah bonds
Obligasi Dolar AS 91.563.279 91.563.279 - - US Dollar bonds
Pinjaman jangka panjang: Long-term debts:
Pinjaman bank 1.334.914.597 - 1.334.914.597 - Bank loans
Pinjaman dari instansi Loans from non-bank
keuangan non-bank 73.132.741 - 73.132.741 - financial institution
Obligasi Rupiah 601.358.347 601.358.347 - - Rupiah bonds
Obligasi Dolar AS 1.297.054.193 1.297.054.193 - - US Dollar bonds
250
Page 419
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 417
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
a. Nilai Wajar atas Instrumen Keuangan a. Fair Values of Financial Instruments
(lanjutan) (continued)
Hierarki nilai wajar pada tanggal The hierarchy of fair value as of
31 Desember 2025 dan 2024 adalah sebagai December 31, 2025 and 2024, are as follows:
berikut: (lanjutan) (continued)
2024
Harga pasar yang Input yang
dikuotasikan signifikan dan Input yang
untuk aset dapat diobservasi signifikan
dan liabilitas secara langsung tetapi tidak
yang sama maupun tidak dapat
(Level 1)/ langsung diobservasi
Market value (Level 2)/ (Level 3)/
quotation for Significant Significant
similar input and input
assets and observable directly but
Jumlah/ liabilities or indirectly unobservable
Total (Level 1) (Level 2) (Level 3)
Aset diukur pada nilai Assets measured at fair
wajar value
Aset Keuangan Financial Assets
Piutang sewa Finance lease
pembiayaan 166.808.737 - - 166.808.737 receivables
Investasi jangka pendek 11.025.523 11.025.523 - - Short-term investments
Investasi jangka panjang 180.838.190 - - 180.838.190 Long-term investment
Derivatif pada lindung Derivatives in effective
nilai efektif hedge
Aset derivatif 27.797.906 - 27.797.906 - Derivative assets
Liabilitas diukur pada Liabilities measured at
nilai wajar fair value
Liabilitas keuangan Financial Liabilities
Derivatif pada lindung Derivatives in effective
nilai efektif hedge
Liabilitas derivatif 43.395.918 - 43.395.918 - Derivative liabilities
Aset yang nilai wajarnya Assets for which fair
diungkapkan value is disclosed
Aset keuangan Financial Assets
Concession financial
Aset keuangan konsesi 658.450.218 - - 658.450.218 assets
Liabilitas yang nilai Liabilities for which fair
wajarnya diungkapkan value is disclosed
Liabilitas keuangan Financial Liabilities
Pinjaman bank jangka
pendek 54.691.856 54.691.856 - - Short-term bank loan
Pinjaman jangka panjang
yang jatuh tempo dalam Current maturities of long-
satu tahun: term debt:
Pinjaman bank 162.501.916 - 162.501.916 - Bank loans
Pinjaman dari instansi Loans from non-bank
keuangan non-bank 14.871 - 14.871 - financial institution
Obligasi Rupiah 211.478.310 211.478.310 - - Rupiah bonds
Obligasi Dolar AS - - - - US Dollar bonds
Pinjaman jangka panjang: Long-term debts:
Pinjaman bank 982.922.113 - 982.922.113 - Bank loans
Pinjaman dari instansi Loans from non-bank
keuangan non-bank 42.479.051 - 42.479.051 - financial institution
Obligasi Rupiah 336.830.716 336.830.716 - - Rupiah bonds
Obligasi Dolar AS 1.503.895.960 1.503.895.960 - - US Dollar bonds
251
Page 420
2025 Management Business Company Corporate
418 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
Liabilitas keuangan pokok Grup meliputi The principal financial liabilities of the Group
pinjaman jangka pendek dan jangka panjang, consist of short-term and long-term debts, trade
utang usaha dan lain-lain, dan biaya akrual. and other payables, and accrued expenses. The
Tujuan utama dari liabilitas keuangan ini adalah main purpose of these financial liabilities is to
untuk mengumpulkan dana untuk operasi Grup. raise funds for the operations of the Group. The
Grup mempunyai berbagai aset keuangan Group has various financial assets such as
seperti piutang usaha dan kas dan setara kas, trade receivables and cash and cash
yang dihasilkan langsung dari kegiatan equivalents, which arise directly from its
usahanya. operations.
Risiko utama yang timbul dari instrumen The main risks arising from the Group’s financial
keuangan Grup adalah risiko suku bunga, risiko instruments are interest rate risk, foreign
fluktuasi nilai tukar mata uang asing, risiko exchange rate risk, credit risk, liquidity risk and
kredit, risiko likuiditas dan risiko volatilitas price volatility risk. The importance of managing
harga. Pentingnya untuk mengelola risiko ini these risks has significantly increased in light of
telah meningkat secara signifikan dengan the considerable change and volatility in both
mempertimbangkan perubahan dan volatilitas Indonesian and international financial markets.
pasar keuangan baik di Indonesia maupun The Company’s Directors review and approve
internasional. Direksi Perusahaan menelaah the policies for managing these risks which are
dan menyetujui kebijakan untuk mengelola summarized below:
risiko-risiko yang dirangkum di bawah ini:
i. Risiko suku bunga i. Interest rate risk
Kebijakan Grup terkait dengan risiko suku The Group’s policy relating to interest rate
bunga adalah dengan mengelola biaya risk is to manage interest cost through a
bunga melalui kombinasi pinjaman dengan mix of fixed and variable rate debts. The
suku bunga tetap dan variabel. Grup Group evaluates the comparability of the
mengevaluasi perbandingan suku bunga fixed rate to floating rate of its short-term
tetap terhadap suku bunga mengambang bank loans and long-term debts in line with
dari pinjaman bank jangka pendek dan movements of relevant interest rates in the
pinjaman jangka panjang sejalan dengan financial markets. Based on
perubahan suku bunga yang relevan di management’s assessment, the new
pasar keuangan. Berdasarkan evaluasi financing will be priced either on a fixed
manajemen, pembiayaan baru akan rate or floating rate basis.
ditentukan harganya pada suku bunga
tetap atau mengambang.
Grup memiliki risiko tingkat suku bunga The Group’s exposure to the risk of
pasar yang terutama berasal dari changes in market interest rates relates
pergerakan suku bunga piutang pasar dan primarily to movement of receivable
liabilitas jangka panjang dengan tingkat market interest and long-term obligations
suku bunga mengambang. Untuk with floating interest rates. In order to
mengelola risiko suku bunga, Grup manage interest rate risk, the Group
melakukan transaksi Swap Suku Bunga. entered into Interest Rate Swaps.
252
Page 421
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 419
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
i. Risiko suku bunga (lanjutan) i. Interest rate risk (continued)
Tabel di bawah ini menyajikan nilai The following table sets out the carrying
tercatat, berdasarkan periode jatuh tempo amounts, by maturity, of the Group’s
dari instrumen keuangan Grup yang financial instruments that are exposed to
terkena dampak risiko suku bunga: interest rate risk:
2025
Lebih dari
Dalam jangka 5 tahun/
waktu 1 tahun/ 1-2 tahun/ 2-5 tahun/ More than 5 Jumlah/
Keterangan Within 1 year 1-2 years 2-5 years years Total Description
Aset derivatif 1.365.489 - 355.017 18.091.907 19.812.413 Derivative assets
Pinjaman bank jangka
panjang 88.603.281 130.621.550 184.877.739 243.557.955 647.660.525 Long-term bank loans
Liabilitas derivatif 6.606.096 3.024.724 32.765.637 10.119.951 52.516.408 Derivative liabilities
2024
Lebih dari
Dalam jangka 5 tahun/
waktu 1 tahun/ 1-2 tahun/ 2-5 tahun/ More than 5 Jumlah/
Keterangan Within 1 year 1-2 years 2-5 years years Total Description
Aset derivatif 1.873.705 1.773.169 8.250.279 15.900.753 27.797.906 Derivative assets
Pinjaman bank jangka
panjang 86.686.029 100.878.134 126.023.162 33.267.280 346.854.605 Long-term bank loans
Liabilitas derivatif 12.653.816 4.457.133 21.217.850 5.067.119 43.395.918 Derivative liabilities
Bunga atas instrumen keuangan yang Interest on financial instruments classified
diklasifikasikan sebagai tingkat suku as floating rate is repriced at intervals of
bunga mengambang direvisi dalam jangka less than one year. Interest on financial
waktu kurang dari satu tahun. Sedangkan instruments classified as fixed rate is fixed
untuk yang termasuk dalam klasifikasi until the maturity of the financial
sebagai tingkat suku bunga tetap adalah instrument. The other financial instruments
tetap sampai dengan jatuh tempo of the Group that are not included in the
instrumen keuangan tersebut. Instrumen table above are either non-interest bearing
keuangan Grup lainnya yang tidak or have fixed interest rates and are
termasuk dalam tabel di atas adalah therefore not subject to interest rate risk.
instrumen keuangan yang tidak dikenakan As of December 31, 2025, bank loan
bunga atau dengan suku bunga tetap dan classified as fixed rate constitute 60.4% of
oleh karena itu tidak terkena dampak the total bank loans.
risiko perubahan suku bunga. Pada
tanggal 31 Desember 2025, pinjaman
bank dengan bunga tetap mencakup
60,4% dari jumlah keseluruhan pinjaman
bank.
Grup melakukan transaksi swap atas The Group entered into interest rate swaps
tingkat suku bunga sebagai instrumen hedging instruments to manage its interest
lindung nilai untuk mengelola risiko atas rate risk.
tingkat bunga.
253
Page 422
2025 Management Business Company Corporate
420 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
i. Risiko suku bunga (lanjutan) i. Interest rate risk (continued)
Pada tanggal 31 Desember 2025, jika As of December 31, 2025, if the borrowing
tingkat suku bunga pinjaman meningkat/ rate increases/decreases by 0.5% with all
menurun sebesar 0,5% dengan semua other variables held constant, the
variabel lain konstan, laba konsolidasian consolidated profit before income tax
sebelum beban pajak penghasilan dari expense from continuing operations will be
operasi yang dilanjutkan akan lebih lower or higher by US$8.03 million, as a
rendah atau tinggi sebesar AS$8,03 juta result of higher or lower interest expense
sebagai akibat dari lebih tinggi atau on borrowings.
rendah beban bunga dari pinjaman.
Pada tanggal 31 Desember 2024, jika As of December 31, 2024, if the borrowing
tingkat suku bunga pinjaman meningkat/ rate increases/decreases by 0.5% with all
menurun sebesar 0,5% dengan semua other variables held constant, the
variabel lain konstan, rugi konsolidasian consolidated loss before income tax
sebelum beban pajak penghasilan dari expense from continuing operations will be
operasi yang dilanjutkan akan lebih tinggi higher or lower by US$5.95 million, as a
atau rendah sebesar AS$5,95 juta sebagai result of higher or lower interest expense
akibat dari lebih tinggi atau rendah beban on borrowings.
bunga dari pinjaman.
Grup terekspos pada LIBOR USD (‘IBOR’) The Group is exposed to the USD LIBOR
yang terdampak pada reformasi acuan (‘IBOR’) which are subject to interest rate
suku bunga. Eksposur timbul atas aset benchmark reform. The exposures arise
dan liabilitas keuangan derivatif dan non- on derivatives and non-derivative financial
derivatif (misalnya utang). assets and liabilities (e.g. debt).
Seperti tercantum dalam Catatan 27, Grup As listed in Note 27, the Group has cash
memiliki hubungan lindung nilai arus kas flow hedge relationships affected by the
yang dipengaruhi oleh reformasi acuan interest rate benchmark reform. Hedged
suku bunga. Item lindung nilaian dalam items in these hedges include issued USD
lindung nilai ini termasuk utang suku LIBOR floating rate debt. Hedging
bunga mengambang LIBOR USD yang instruments include IBOR based interest
diterbitkan. Instrumen lindung nilai rate swaps and a LIBOR-linked cross
termasuk swap atas tingkat suku bunga currency swap. The Group also has bank
berbasis IBOR dan swap atas mata uang borrowings which are not designated in
asing terkait LIBOR. Grup juga memiliki hedging relationships.
pinjaman bank yang tidak ditetapkan
dalam hubungan lindung nilai.
Sejak Oktober 2020, Grup telah Since October 2020, the Group has closely
memantau pasar dan berbagai macam monitored the market and various working
perusahaan mengenai perkembangan companies regarding development of
penghentian LIBOR dan dampaknya LIBOR cessation and its impact to the
terhadap industri terkait. Hal ini termasuk related industry. This includes
pengumuman yang dibuat oleh regulator announcements made by LIBOR
LIBOR (termasuk UK Financial Conduct regulators (including the UK Financial
Authority (FCA), New York Fed, dan US Conduct Authority (FCA), New York Fed,
Commodity Futures Trading Commission) and the US Commodity Futures Trading
serta International Benchmark Commission) as well as International
Administration (IBA) sebagai administrator Benchmark Administration (IBA) as LIBOR
LIBOR. administrator.
254
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 421
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
i. Risiko suku bunga (lanjutan) i. Interest rate risk (continued)
Menanggapi pengumuman tersebut, Grup In response to the announcements, the
telah membentuk Program Transisi LIBOR Group has conducted LIBOR Transition
untuk mengidentifikasi kontrak di seluruh Program to identify contracts across the
perusahaan yang mengacu pada LIBOR companies referring to LIBOR and develop
dan mengembangkan rencana kerja dan work plans and corresponding timelines to
jadwal yang sesuai untuk mempersiapkan prepare for the transition. The Program
transisi. Program ini terdiri dari sebagian comprised of most of the functions within
besar fungsi yang ada di dalam Grup: the Group: corporate finance and treasury,
corporate finance dan treasuri, keuangan finance and reporting, finance functional
dan pelaporan, finance functional excellence, accounting, tax, legal,
excellence, akuntansi, pajak, hukum, planning, commercial, supply chain, and
perencanaan, komersial, supply chain, risk management with one project
dan manajemen risiko dengan satu coordinator. The Steering Committee leads
koordinator proyek. Komite Pengarah the LIBOR Transition Program and
memimpin Program Transisi LIBOR dan consists of two Directors and a Vice
terdiri dari dua orang Direktur dan seorang President.
Vice President.
Risiko yang timbul dari reformasi acuan Risks arising from the interest rate
suku bunga benchmark reform
Risiko utama Grup yang timbul dari The key risks for the Group arising from
transisi adalah: the transition are:
• Risiko basis suku bunga: • Interest rate basis risk:
Terdapat dua elemen terkait risiko ini There are two elements to this risk as
seperti yang diuraikan di bawah ini: outlined below:
– Jika negosiasi bilateral dengan – If bilateral negotiations within the
pihak lain Grup tidak berhasil Group’s counterparties are not
diselesaikan sebelum successfully concluded before the
penghentian USD LIBOR, cessation of USD LIBOR, there
terdapat ketidakpastian moderat are moderate uncertainties with
terkait dengan tingkat suku bunga regard to the interest rate that
yang akan berlaku. Hal ini would apply. This gives rise to
menimbulkan risiko suku bunga additional interest rate risk that
tambahan yang tidak diantisipasi was not anticipated when the
saat kontrak ditandatangani. contracts were signed into. The
Grup sedang bekerja sama Group is working closely with all
dengan semua pihak lain untuk counterparties to avoid this from
menghindari terjadinya hal occurring.
tersebut.
– Risiko basis suku bunga dapat – Interest rate basis risk may arise
timbul jika instrumen non-derivatif if a non-derivative instrument and
dan instrumen derivatif yang the derivative instrument held to
dimiliki untuk mengelola risiko manage the interest risk on the
suku bunga pada instrumen non- non-derivative instrument,
derivatif, transisi ke suku bunga transition to alternative
acuan alternatif pada waktu yang benchmark rates at different
berbeda. times.
255
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2025 Management Business Company Corporate
422 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
i. Risiko suku bunga (lanjutan) i. Interest rate risk (continued)
Risiko yang timbul dari reformasi acuan Risks arising from the interest rate
suku bunga (lanjutan) benchmark reform (continued)
Risiko utama Grup yang timbul dari The key risks for the Group arising from
transisi adalah: (lanjutan) the transition are: (continued)
• Akuntansi • Accounting
Pada Juni 2020, Dewan Standar In June 2020, Financial Accounting
Akuntansi Keuangan Institut Akuntan Standards Board of the Indonesian
Indonesia menerbitkan Amandemen Institute of Accountants issued
PSAK 109 Instrumen Keuangan, Amendment of PSAK 109 Financial
Amandemen PSAK 239 Instrumen Instruments, Amendment of PSAK
Keuangan: Pengakuan dan 239 Financial Instruments:
Pengukuran, dan Amandemen PSAK Recognition and Measurements, and
107 Instrumen Keuangan: Amendment of PSAK 107 Financial
Pengungkapan Reformasi IBOR. Instruments: Disclosures on IBOR
Perubahan tersebut akan Reform. Such change will affect
mempengaruhi arus kas masa depan future cash flows in both contractual
di kedua instrumen keuangan suku floating rate financial instruments
bunga mengambang kontraktual currently referenced to IBOR, and
yang saat ini mengacu pada IBOR, highly probable forecast transactions
dan perkiraan transaksi yang sangat for which IBOR is designated as the
mungkin terjadi di mana IBOR hedged risk. If transition to alternative
ditetapkan sebagai risiko lindung benchmark rates for certain contracts
nilai. Jika transisi ke suku bunga is finalized in a manner that does not
acuan alternatif untuk kontrak permit the application of the reliefs
tertentu difinalisasi dengan cara yang introduced in the Phase 2
tidak termasuk dalam keringanan amendments, this could lead to
pada amandemen Fase 2, hal ini discontinuation of hedge accounting
dapat mengakibatkan pengakhiran relationships, increased volatility in
hubungan akuntansi lindung nilai, profit or loss if redesignated hedges
peningkatan volatilitas pada laba rugi are not fully effective and volatility in
jika lindung nilai yang ditetapkan the profit or loss if non-derivative
ulang tidak efektif, dan volatilitas financial instruments are modified or
pada laba rugi jika instrumen derecognized. The Group is aiming to
keuangan non-derivatif dimodifikasi agree changes to contracts that
atau dihentikan pengakuannya. Grup would allow PSAK 109 reliefs to
menargetkan untuk menyetujui apply.
perubahan kontrak yang memenuhi
kriteria keringanan PSAK 109.
256
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 423
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
i. Risiko suku bunga (lanjutan) i. Interest rate risk (continued)
Risiko yang timbul dari reformasi acuan Risks arising from the interest rate
suku bunga (lanjutan) benchmark reform (continued)
Risiko utama Grup yang timbul dari The key risks for the Group arising from
transisi adalah: (lanjutan) the transition are: (continued)
• Risiko komersial: • Commercial risk:
Fallback language yang tidak ada Missing fallback language in Gas
dalam perjanjian Gas Sales Sales Agreements (“GSA”) and
Agreements (“GSA”) dan Crude Oil Crude Oil Sales and Purchase
Sales and Purchase Agreement Agreement (“COSPA”) where USD
(“COSPA”) di mana USD LIBOR LIBOR is used as a reference for late
digunakan sebagai acuan untuk payment interest might lure the buyer
bunga keterlambatan pembayaran to not pay on-time as LIBOR ceased
dapat menarik pembeli untuk tidak to exists. Additionally, amendments
membayar tepat waktu karena to GSA and COSPA require
LIBOR akan dihilangkan. Selain itu, regulator’s approval (i.e. SKK Migas)
amandemen GSA dan COSPA and may take some time. The Group
memerlukan persetujuan regulator is currently waiting for direction from
(yaitu SKK Migas) dan mungkin SKK Migas on the replacement rate.
memerlukan waktu lebih. Grup saat
ini sedang menunggu arahan dari
SKK Migas mengenai tarif
penggantian tersebut.
ii. Risiko fluktuasi nilai tukar mata uang asing ii. Foreign exchange rate fluctuation risk
Pembukuan Grup dilakukan dalam mata The Group maintains its bookkeeping in
uang Dolar AS, oleh karena itu, US Dollar, therefore, a portion of its
pendapatan, beban, aset dan liabilitas revenues, expenses, assets and liabilities
dalam mata uang selain Dolar AS memiliki which are denominated in currencies other
eksposur terhadap nilai tukar mata uang than US Dollar are exposed to currency
tersebut terhadap Dolar AS. Aktivitas exchange rates against US Dollar. The oil
eksplorasi dan produksi minyak dan gas and gas exploration and production
Grup di berbagai negara tidak terlepas activities of the Group in various countries
dari eksposur mata uang setempat. are also exposed to the currency
exchange fluctuations of the local
currencies.
Untuk mengelola risiko mata uang, Grup In order to manage currency risk, the
menandatangani beberapa kontrak swap Group entered into several cross-currency
atas mata uang silang dan kontrak swap and forward contracts. As of
forward. Pada tanggal 31 Desember 2025 December 31, 2025 and 2024, these
dan 2024, kontrak ini dicatat sebagai contracts are accounted for as
transaksi yang tidak ditetapkan sebagai transactions that are not designated as
lindung nilai kecuali kontrak lindung nilai hedging contracts except for cash flow
atas arus kas, dimana keuntungan atau hedging contracts, in which the gain or
kerugian yang timbul dari bagian efektif loss arising from the effective portion of
lindung nilai atas arus kas dikreditkan atau cash flow hedge is credited or charged to
dibebankan di penghasilan komprehensif other comprehensive income (Note 27).
lain (Catatan 27).
257
Page 426
2025 Management Business Company Corporate
424 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
ii. Risiko fluktuasi nilai tukar mata uang asing ii. Foreign exchange rate fluctuation risk
(lanjutan) (continued)
Entitas anak tertentu Grup memiliki mata Certain subsidiaries of the Group have
uang fungsional dalam Rupiah. Entitas functional currencies in Rupiah. These
anak ini terkena dampak atas selisih nilai subsidiaries are exposed to foreign
kurs atas pembelian dan beban utama exchange risk as the costs of their major
dalam mata uang yang berbeda dengan purchases and expenses are denominated
mata uang fungsionalnya. Namun, entitas in other currencies different from their
anak ini memiliki lindung nilai alami karena functional currency. However, these
pendapatan tertentu, beban utama dan subsidiaries have natural hedge due to
pendanaan dalam Dolar AS. certain revenues, major expenses and
financing are in US Dollar.
Pada tanggal 31 Desember 2025, jika nilai As of December 31, 2025, if the exchange
tukar Dolar AS terhadap mata uang asing rate of the US Dollar against foreign
meningkat/menurun sebanyak 10% currencies increases/decreases by 10%
dengan semua variabel lain konstan, laba with all other variables held constant, the
konsolidasian sebelum beban pajak consolidated profit before income tax
penghasilan dari operasi yang dilanjutkan expense from continuing operations will be
akan lebih rendah/tinggi sebesar AS$161 lower/higher by US$161 million primarily
juta terutama sebagai akibat dari kerugian/ as a result of foreign exchange losses/
keuntungan selisih kurs dari translasi aset gains on translations of net monetary
dan liabilitas moneter neto. assets and liabilities.
Pada tanggal 31 Desember 2024, jika nilai As of December 31, 2024, if the exchange
tukar Dolar AS terhadap mata uang asing rate of the US Dollar against foreign
meningkat/menurun sebanyak 10% currencies increases/decreases by 10%
dengan semua variabel lain konstan, rugi with all other variables held constant, the
konsolidasian sebelum manfaat pajak dari consolidated loss before income tax
operasi yang dilanjutkan akan lebih tinggi/ expense from continuing operations will be
rendah sebesar AS$116 juta terutama higher/lower by US$116 million primarily
sebagai akibat dari kerugian/keuntungan as a result of foreign exchange losses/
selisih kurs dari translasi aset dan liabilitas gains on translations of net monetary
moneter neto. assets and liabilities.
iii. Risiko kredit iii. Credit risk
Risiko kredit adalah risiko dimana salah Credit risk is the risk that one party to
satu pihak atas instrumen keuangan akan financial instruments will fail to discharge
gagal memenuhi kewajibannya dan its obligation and will incur a financial loss
menyebabkan pihak lain mengalami to the other party.
kerugian keuangan.
Eksposur paling besar adalah sebesar The most significant exposure to the credit
nilai tercatat aset keuangan sebagaimana risk is represented by the carrying
diungkapkan pada Catatan 6, 7, 8 dan 9 amounts of financial assets as shown in
atas laporan keuangan konsolidasian. Notes 6, 7, 8 and 9 of the consolidated
financial statements.
258
Page 427
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 425
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
iii. Risiko kredit (lanjutan) iii. Credit risk (continued)
Kas dan setara kas Cash and cash equivalents
Sehubungan dengan kas di bank dan With respect to cash in banks and time
deposito berjangka yang ditempatkan deposits with financial institutions, the
pada institusi keuangan, Grup hanya Group transacts only with financially
bertransaksi dengan institusi keuangan financial institutions and banks with high
dan bank yang sehat. Risiko kredit atas credit ratings. Credit risk arising from
penempatan rekening koran dan deposito placement of current accounts and
dikelola oleh manajemen sesuai dengan deposits is managed in accordance with
kebijakan Grup. Investasi atas kelebihan the Group’s policy. Investments of surplus
dana dibatasi untuk tiap-tiap bank dan funds are limited for each bank and this
kebijakan ini dievaluasi setiap tahun oleh policy is evaluated annually by the
direksi. Batas tersebut ditetapkan untuk directors. Such limits are set to
meminimalkan risiko konsentrasi kredit minimize any significant concentration of
sehingga mengurangi kemungkinan credit risk and therefore mitigate financial
kerugian akibat kebangkrutan bank-bank loss through potential failure of the banks.
tersebut.
Grup menyimpan kas dan setara kasnya The Group has placements of its cash and
di dua bank yang secara individu masing- cash equivalents in two banks that
masing mewakili 11,05%-43,16% dan individually represented 11.05%-43.16%
10,57%-28,22% dari jumlah kas dan and 10.57%-28.22% of the total cash and
setara kas pada tanggal 31 Desember cash equivalents as of December 31, 2025
2025 dan 2024. and 2024, respectively.
Deposito dan rekening bank yang dibatasi The Group’s restricted time deposits and
penggunaannya milik Grup ditempatkan cash in banks are placed in one bank that
pada satu bank yang masing-masing represented 69.13% and 63.35% of the
mewakili 69,13% dan 63,35% dari jumlah total restricted time deposits and cash in
deposito dan rekening bank yang dibatasi banks as of December 31, 2025 and 2024,
penggunaannya pada tanggal respectively. Identified concentrations of
31 Desember 2025 dan 2024. Identifikasi credit risk, if any, are controlled and
konsentrasi kredit, bila ada, telah managed accordingly.
dikendalikan dan dikelola sedemikian
rupa.
259
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2025 Management Business Company Corporate
426 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
iii. Risiko kredit (lanjutan) iii. Credit risk (continued)
Piutang usaha Trade receivables
Risiko kredit yang dihadapi Grup berasal The Group is exposed to credit risk arising
dari kredit yang diberikan kepada from the credit granted to its customers.
pelanggan. Grup melakukan hubungan The Group trades only with recognized
usaha hanya dengan pihak ketiga yang and creditworthy third parties. It is the
diakui dan kredibel. Grup memiliki Group’s policy that all customers who wish
kebijakan untuk semua pelanggan yang to trade on credit terms are subject to
akan melakukan perdagangan secara credit verification procedures. In addition,
kredit harus melalui prosedur verifikasi receivable balances are monitored on an
kredit. Sebagai tambahan, jumlah piutang ongoing basis to reduce the exposure to
dipantau secara terus menerus untuk bad debts.
mengurangi risiko piutang yang tidak
tertagih.
Pada tanggal 31 Desember 2025 dan As of December 31, 2025 and 2024, the
2024, pelanggan Grup dengan piutang Group’s customers with trade receivables
usaha lebih dari 10% dari jumlah piutang over than 10% of the Group’s trade
usaha Grup adalah sebagai berikut: receivables are as follows:
2025 2024
Shell International Eastern Shell International Eastern
Trading Company 15 % 9% Trading Company
PT Perusahaan Gas Negara, Tbk 13 % 14 % PT Perusahaan Gas Negara, Tbk
Sembcorp Gas Pte. Ltd. 10 % 15 % Sembcorp Gas Pte. Ltd.
Gas Supply Pte. Ltd 7% 10 % Gas Supply Pte. Ltd
a. Berdasarkan area geografis a. By geographical area
2025
Piutang Usaha/ Piutang Lain-lain/
Trade Receivables Other Receivables
Indonesia 181.500.825 240.140.273 Indonesia
Luar negeri: Overseas:
Asia 115.966.495 3.277.057 Asia
Timur Tengah dan Afrika Utara 96.167.773 8.164.914 Middle East and North Africa
Inggris – 3.355.452 United Kingdom
Jumlah 393.635.093 254.937.696 Total
2024
Piutang Usaha/ Piutang Lain-lain/
Trade Receivables Other Receivables
Indonesia 182.630.302 184.143.595 Indonesia
Luar negeri: Overseas:
Asia 144.239.740 2.749.055 Asia
Timur Tengah dan Afrika Utara 30.230.253 13.381.422 Middle East and North Africa
United States of America and
Amerika Serikat dan Eropa 4.868.778 3.245.060 Europe
Jumlah 361.969.073 203.519.132 Total
260
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 427
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
iii. Risiko kredit (lanjutan) iii. Credit risk (continued)
Piutang usaha (lanjutan) Trade receivables (continued)
b. Berdasarkan jenis debitur b. By debtor
2025
Piutang Usaha/ Piutang Lain-lain/
Trade Receivables Other Receivables
Pihak-pihak berelasi 23.483 158.769.446 Related parties
Pihak ketiga: Third parties:
Badan Usaha Milik Negara 145.831.790 169.445 State-owned enterprises
Perusahaan Multinasional 215.647.417 17.108.922 Multinational companies
Pemerintah Indonesia 5.450.760 5.653.607 Government of Indonesia
Individual 4.994.679 7.814.696 Individuals
Perusahaan lainnya 21.686.964 65.421.580 Other companies
Jumlah 393.635.093 254.937.696 Total
2024
Piutang Usaha/ Piutang Lain-lain/
Trade Receivables Other Receivables
Pihak-pihak berelasi 8.442 109.657.215 Related parties
Pihak ketiga: Third parties:
Badan Usaha Milik Negara 143.232.289 16.857.754 State-owned enterprises
Perusahaan Multinasional 184.864.170 13.891.660 Multinational companies
Pemerintah Indonesia 5.460.654 10.817.107 Government of Indonesia
Individual 544.279 6.251.667 Individuals
Perusahaan lainnya 27.859.239 46.043.729 Other companies
Jumlah 361.969.073 203.519.132 Total
iv. Risiko likuiditas iv. Liquidity risk
Risiko likuiditas didefinisikan sebagai The liquidity risk is defined as a risk where
risiko saat posisi arus kas Grup the cash flow position of the Group
menunjukkan bahwa pendapatan jangka indicates that the short-term revenue is not
pendek tidak cukup untuk menutupi sufficient to cover the short-term
pengeluaran jangka pendek. Kebutuhan expenditures. The Group liquidity
likuiditas Grup secara historis timbul dari requirements have historically arisen from
kebutuhan untuk membiayai investasi dan the need to finance investments and
pengeluaran barang modal dan untuk operational and capital expenditures.
mendanai operasional.
261
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2025 Management Business Company Corporate
428 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
iv. Risiko likuiditas (lanjutan) iv. Liquidity risk (continued)
Dalam mengelola risiko likuiditas, Grup In the management of liquidity risk, the
memantau dan menjaga tingkat kas dan Group monitors and maintains a level of
setara kas yang dianggap memadai untuk cash and cash equivalents deemed
membiayai operasional Grup dan untuk adequate to finance the Group’s
mengatasi dampak dari fluktuasi arus kas. operations and to mitigate the effects of
Grup juga secara rutin mengevaluasi fluctuations in cash flows. The Group also
proyeksi arus kas dan arus kas aktual, regularly evaluates the projected and
termasuk jadwal jatuh tempo pinjaman actual cash flows, including long-term loan
jangka panjang, dan terus menelaah maturity profiles, and continuously
kondisi pasar keuangan untuk memelihara assesses the conditions in the financial
fleksibilitas pendanaan dengan cara market to maintain flexibility in funding by
menjaga ketersediaan komitmen fasilitas keeping committed credit facilities
kredit. Kegiatan ini bisa meliputi pinjaman available. These activities may include
bank dan penerbitan ekuitas pasar modal. bank loans and issuance of equity in the
capital market.
Tabel di bawah ini menyajikan periode The table below presents the maturity
jatuh tempo liabilitas keuangan Grup period of the Group’s financial liabilities
berdasarkan pembayaran kontraktual based on undiscounted contractual
yang tidak didiskontokan: payments:
2025
Lebih dari
Dalam jangka 5 tahun/
waktu 1 tahun/ 1-2 tahun/ 2-5 tahun/ More than Jumlah/
Keterangan Within 1 year 1-2 years 2-5 years 5 years Total Description
Utang usaha Trade payables
- Pihak berelasi 40.654.452 – – – 40.654.452 Related parties -
- Pihak ketiga 234.857.701 – – – 234.857.701 Third parties -
Utang lain-lain Other payables
- Pihak berelasi 31.974.578 – – – 31.974.578 Related parties -
- Pihak ketiga 144.142.236 20.664.819 144.142.236
11.572.305 144.142.236
48.220.797 224.600.157 Third parties -
Biaya akrual 261.487.071 – – – 261.487.071 Accrued expenses
Pinjaman bank Bank loans
- Pokok pinjaman 203.792.658 310.672.087 716.580.950 413.010.345 1.644.056.040 Principal -
- Beban bunga masa Future imputed - interest -
depan 112.207.838 93.981.663 141.445.271 121.131.681 468.766.453 charges
Pinjaman dari instansi Loans from non-bank
keuangan non-bank financial institutions
- Pokok pinjaman 4.019.024 4.132.413 14.173.675 82.665.068 104.990.180 Principal -
- Beban bunga masa Future imputed - interest -
depan 5.931.945 5.704.870 16.429.157 46.405.358 74.471.330 charges
Obligasi Dolar AS US Dollar bond
- Pokok pinjaman 91.724.000 107.774.000 1.143.006.000 – 1.342.504.000 Principal -
- Beban bunga masa Future imputed - interest -
depan 105.181.169 96.391.823 155.136.360 – 356.709.352 charges
Obligasi Rupiah Rupiah bond
- Pokok pinjaman 48.772.196 74.876.355 314.366.881 189.233.406 627.248.838 Principal -
- Beban bunga masa Future imputed - interest -
depan 51.147.756 45.195.577 94.675.707 22.091.694 213.110.734 charges
Liabilitas sewa 109.411.891 80.990.066 86.981.566 335.226 277.718.749 Lease liabilities
Liabilitas derivatif 6.606.096 3.024.724 32.765.637 10.119.951 52.516.408 Derivative liabilities
262
Page 431
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 429
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
iv. Risiko likuiditas (lanjutan) iv. Liquidity risk (continued)
2024
Lebih dari
Dalam jangka 5 tahun/
waktu 1 tahun/ 1-2 tahun/ 2-5 tahun/ More than Jumlah/
Keterangan Within 1 year 1-2 years 2-5 years 5 years Total Description
Utang usaha Trade payables
- Pihak berelasi 37.769.518 – – – 37.769.518 Related parties -
- Pihak ketiga 305.828.073 – – – 305.828.073 Third parties -
Utang lain-lain Other payables
- Pihak berelasi 15.168.241 – – – 15.168.241 Related parties -
- Pihak ketiga 132.091.345 19.151.824 22.297.339 49.599.189 223.139.697 Third parties -
Biaya akrual 276.060.037 – – – 276.060.037 Accrued expenses
Pinjaman bank Bank loans
- Pokok pinjaman 219.396.938 201.137.023 682.882.957 174.855.422 1.278.272.340 Principal -
- Beban bunga masa Future imputed - interest -
depan 89.020.090 71.705.942 124.289.157 72.948.019 357.963.208 charges
Pinjaman dari instansi Loans from non-bank financial
keuangan non-bank institutions
- Pokok pinjaman 14.871 1.908.884 8.416.112 59.665.184 70.005.051 Principal -
- Beban bunga masa Future imputed - interest -
depan 5.179.487 5.179.272 15.105.513 56.838.833 82.303.105 charges
Obligasi Dolar AS US Dollar bond
- Pokok pinjaman – 242.319.000 1.233.330.000 – 1.475.649.000 Principal -
- Beban bunga masa Future imputed - interest -
depan 111.142.462 99.832.306 145.239.247 – 356.214.015 charges
Obligasi Rupiah Rupiah bond
- Pokok pinjaman 211.564.474 50.643.175 187.185.374 94.833.870 544.226.893 Principal -
- Beban bunga masa Future imputed - interest -
depan 37.615.299 26.776.357 47.772.500 7.135.663 119.299.819 charges
Liabilitas sewa 145.857.245 67.073.320 93.435.959 309.773 306.676.297 Lease liabilities
Liabilitas derivatif 12.653.816 4.457.133 21.217.850 5.067.119 43.395.918 Derivative liabilities
263
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2025 Management Business Company Corporate
430 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
b. Tujuan dan Kebijakan Manajemen Risiko b. Risk Management Objectives and Policies
(lanjutan) (continued)
v. Risiko volatilitas harga v. Price volatility risk
Harga jual minyak Grup berdasarkan pada The selling price of the Group’s oil is
harga Indonesian Crude Price (ICP) yang based on the price of Indonesian Crude
ditetapkan oleh Kementerian Energi dan Price (ICP) that is determined by the
Sumber Daya Mineral setiap bulannya. Ministry of Energy and Mineral Resources
Sebagai akibatnya, harga yang diterima on a monthly basis. As a result, the price
oleh Grup untuk produksi minyak, akan of oil that is produced by the Group will
tergantung dari banyak faktor di luar depend largely on factors beyond the
kendali Grup. control of the Group.
Sebagian besar gas dijual di Indonesia The natural gas produced in Indonesia is
dihitung berdasarkan sistem kontrak largely sold on contract basis with fixed
dengan harga tetap dan dengan price and mechanism that allows certain
menggunakan mekanisme tingkat eskalasi level of escalation annually. There exists a
tertentu yang diterapkan setiap tahunnya. potential risk of opportunity loss when the
Dalam hal ini terdapat risiko potensi market price of oil and gas far exceeded
hilangnya peluang pada saat kenaikan the escalation cap in the contract.
harga pasar minyak dan gas bumi jauh
melebihi tingkat eskalasi dalam kontrak.
Minyak bumi Grup yang diproduksi di The Group’s oil produced in Thailand is
Thailand dijual berdasarkan harga pasar sold on the spot market on the basis of the
Brent. Sehingga, risiko yang dihadapi Brent market price. Therefore, the risk
Grup serupa dengan dampak fluktuasi faced by the Group is similar to the effects
harga minyak dan gas bumi. of oil and gas price fluctuation.
Grup memiliki eksposur terhadap risiko The Group is exposed to the risk of
fluktuasi harga komoditas di pasar fluctuations in prevailing market
terhadap produk minyak dan gas yang commodity prices on the mix of oil and gas
dihasilkan. Kebijakan Grup untuk products that it produces. The Group’s
mengelola risiko ini melalui penggunaan policy is to manage these risks through the
harga berbasis kontrak dengan pelanggan use of contract-based prices with
dan kontrak komoditas derivatif ditetapkan customers and derivative commodity
sebagai lindung nilai. contracts that are accounted for as
designated hedges.
c. Manajemen Modal c. Capital Management
Tujuan Grup ketika mengelola modal adalah: The Group’s objectives when managing capital
are:
• Mempertahankan basis modal yang kuat • To maintain a strong capital base so as to
sehingga dapat mempertahankan maintain investor, creditor and market
kepercayaan investor, kreditur dan pasar; trust; and
dan
• Mempertahankan kelangsungan • To sustain future development of the
pembangunan usaha di masa depan. business.
264
Page 433
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 431
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
46. INSTRUMEN KEUANGAN (lanjutan) 46. FINANCIAL INSTRUMENTS (continued)
c. Manajemen Modal (lanjutan) c. Capital Management (continued)
Grup secara berkala meninjau dan mengelola The Group regularly reviews and manages their
struktur modal mereka untuk memastikan capital structure to ensure optimal structure and
struktur yang optimal serta tingkat shareholder returns, taking into consideration
pengembalian pemegang saham, dengan the future capital requirements of the Group and
mempertimbangkan kebutuhan modal masa capital efficiency, prevailing and projected
depan dari Grup dan efisiensi modal, profitability, projected operating cash flows,
profitabilitas yang berlaku dan diproyeksikan, projected capital expenditures and projected
proyeksi arus kas operasi, proyeksi strategic investment opportunities.
pengeluaran modal dan proyeksi peluang
investasi strategis.
Untuk tujuan pengelolaan modal, manajemen For capital management purposes,
menganggap seluruh ekuitas yang diatribusikan management regards total equity attributable to
kepada pemilik entitas induk sebagai modal. the owners of parent company as capital. The
Jumlah modal pada tanggal 31 Desember 2025 amount of capital as of December 31, 2025 and
dan 2024 masing-masing sebesar AS$2.153,4 2024 is US$2,153.4 million and US$2,118.7
juta dan A$2.118,7 juta yang dianggap optimal million, respectively, which the management
oleh manajemen setelah memperhatikan considers as optimal having considered the
pengeluaran modal yang diproyeksikan dan projected capital expenditures and the projected
proyeksi peluang investasi strategis. Dan juga, strategic investment opportunities. Also, over
selama beberapa tahun, laba sebelum pajak the past years, earnings before income tax,
penghasilan, bunga, penyusutan dan amortisasi interest, depreciation and amortization
(EBITDA) telah menjadi kendali penting Grup (EBITDA) has become an important control
serta juga bagi bank pemberi pinjaman. figure for the Group as well as for the lending
Pertumbuhan yang berkelanjutan dan optimal banks. The continuing optimal development of
dari Grup tergantung pada kemampuan mereka the Group depends on its strong self-financing
mandiri dalam pendanaan (EBITDA). ability (EBITDA).
Tidak terdapat perubahan pendekatan Grup There are no changes in the Group’s approach
untuk pengelolaan modal sepanjang periode to capital management during the reporting
pelaporan. period.
265
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2025 Management Business Company Corporate
432 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
47. KESEPAKATAN BAGI HASIL MINYAK DAN GAS 47. OIL AND GAS PRODUCTION SHARING
ARRANGEMENTS
a. Kesepakatan Bagi Hasil - Indonesia a. Production Sharing Arrangements -
Indonesia
Mayoritas entitas anak yang bergerak di bidang The majority of subsidiaries engaged in the oil
minyak dan gas bumi berlokasi di Indonesia dan and gas sector are located in Indonesia and
beroperasi berdasarkan berbagai kesepakatan operate under various production sharing
bagi hasil dengan SKK Migas. Uraian umum agreements with SKK Migas. The general
kesepakatan dan ketentuan dalam peraturan description of the agreements and provisions in
baru minyak dan gas bumi yang berlaku the applicable new regulations on oil and gas
tersebut adalah sebagai berikut: are as follows:
i. Kontrak Bagi Hasil (PSC) - Indonesia i. Production Sharing Contract (PSC) -
Indonesia
PSC diberikan untuk mencari dan PSCs are awarded to seek and develop
mengembangkan cadangan hidrokarbon commercial hydrocarbon reserves in certain
komersial di area tertentu sebelum areas prior to commercial production.
berproduksi secara komersial. Kontraktor Contractors are generally required to
pada umumnya diwajibkan untuk relinquish a certain percentage of the contract
menyerahkan kembali persentase tertentu dari area by a certain date, unless the area relates
area kontrak pada tanggal tertentu, kecuali to a field surface where oil and natural gas
jika area tersebut terkait dengan permukaan has been discovered.
lapangan di mana telah ditemukan minyak
dan gas bumi.
Tanggung jawab dari kontraktor dalam PSC The responsibilities of the contractor in a PSC
umumnya termasuk menyediakan dana atas generally include providing funding for all
semua aktivitas serta menyiapkan dan activities and preparing and implementing
melaksanakan program kerja dan anggaran. work programs and budgets. In return, the
Sebagai imbalannya, kontraktor diizinkan contractor is permitted to carry out the lifting of
untuk melakukan lifting atas minyak mentah crude oil and gas production which is their
dan produksi gas yang menjadi haknya. right.
Bagi hasil dalam bentuk First Tranche Production sharing in the form of First
Petroleum (FTP) sebesar 20% dari total Tranche Petroleum (FTP) of 20% of total
produksi sebelum dikurangi cost recovery production before deducting cost recovery is
tersedia untuk Pemerintah dan kontraktor available to the Government and contractors
sesuai dengan persentase hak bagi hasil in accordance with the percentage of their
masing-masing. respective production sharing rights.
Jumlah produksi setelah FTP adalah jumlah The amount of production after FTP is the
yang tersedia untuk cost recovery bagi amount available for cost recovery for
kontraktor yang dihitung berdasarkan contractors which is calculated based on
referensi atas harga minyak mentah yang reference to the prevailing crude oil price in
berlaku di Indonesia dan harga gas aktual. Indonesia and the actual gas price. After the
Setelah kontraktor memulihkan semua biaya contractor recovers all costs incurred, the
yang dikeluarkan, Pemerintah berhak Government is entitled to a certain share of
memperoleh pembagian tertentu dari hasil the remaining production of crude oil and
produksi minyak mentah dan gas bumi yang natural gas, then the contractor is entitled to
tersisa, selanjutnya kontraktor berhak atas the remainder as a share of equity (profit).
sisanya sebagai bagian ekuitas (laba).
266
Page 435
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 433
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
47. KESEPAKATAN BAGI HASIL MINYAK DAN GAS 47. OIL AND GAS PRODUCTION SHARING
(lanjutan) ARRANGEMENTS (continued)
a. Kesepakatan Bagi Hasil - Indonesia a. Production Sharing Arrangements -
(lanjutan) Indonesia (continued)
i. Kontrak Bagi Hasil (PSC) - Indonesia i. Production Sharing Contract (PSC) -
(lanjutan) Indonesia (continued)
Kontraktor diwajibkan untuk membayar pajak The contractor is required to pay corporate tax
badan atas bagian labanya berdasarkan tarif on its share of profits based on the prevailing
pajak yang berlaku di Indonesia pada saat tax rate in Indonesia at the time the PSC is
PSC tersebut ditandatangani. signed.
PSC di Indonesia wajib memenuhi Domestic PSCs in Indonesia are required to comply with
Market Obligation (DMO) dimana kontraktor the Domestic Market Obligation (DMO)
harus menyediakan kepada pasar domestik whereby the contractor must provide to the
sebanyak yang lebih rendah antara 25% dari domestic market the lower of 25% of (i) the
(i) bagian kontraktor sebelum pajak atas total contractor's share before tax of total oil
produksi minyak bumi dan (ii) bagian laba production and (ii) the contractor's share of
kontraktor atas minyak. profits on oil.
ii.Badan Operasi Bersama (JOB) - Indonesia ii.Joint Operation Agency (JOB) - Indonesia
Dalam JOB, kegiatan operasional dilakukan In JOB, operational activities are carried out
oleh Badan Operasi Bersama yang dikepalai by a Joint Operating Body headed by
oleh PT Pertamina (Persero) dan dibantu oleh PT Pertamina (Persero) and assisted by
kontraktor sebagai pihak kedua dalam JOB. contractors as the second party in the JOB. In
Dalam JOB, 37,5%-50% dari produksi JOB, 37.5%-50% of production belongs to
merupakan milik Pertamina, dan sisanya Pertamina, and the rest is a part that can be
adalah bagian yang dapat dibagikan kepada distributed to parties in the same way as PSC.
pihak-pihak dengan cara yang sama seperti
PSC.
Grup pada saat ini memiliki 15 PSC dan 2 JOB The Group currently has 15 PSCs and 2 JOBs
di Indonesia. in Indonesia.
Sisa komitmen biaya untuk kegiatan The remaining commitment for development
pengembangan dan eksplorasi terkait dengan and exploration expenditures relating to the
kontrak-kontrak di atas pada tanggal contracts above as of December 31, 2025 and
31 Desember 2025 dan 2024 masing-masing 2024, is amounting to US$203.9 million and
sebesar AS$203,9 juta dan AS$190,7 juta. US$190.7 million, respectively.
267
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2025 Management Business Company Corporate
434 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
47. KESEPAKATAN BAGI HASIL MINYAK DAN GAS 47. OIL AND GAS PRODUCTION SHARING
(lanjutan) ARRANGEMENTS (continued)
b. Kesepakatan Bagi Hasil - Internasional b. Production Sharing Arrangements -
International
(1) Grup memiliki kesepakatan bagi hasil di (1) The Group has production sharing
Yaman dan Tanzania serta kontrak jasa di arrangements in Yemen and Tanzania and
Oman dengan kerangka fiskal sebagai also a service contract in Oman with the
berikut: following fiscal arrangements:
Perjanjian Bagi Hasil Konsesi/
Kepemilikan Negara Operasi/ Jangka Waktu Concession Production Sharing Agreement
Entitas Anak/
Blok/ Country of Kontrak/
Subsidiaries Pemerintah Setempat/ Entitas Anak/
Block Ownership Operations Contract Term
Local Government Subsidiaries
Medco Oman LLC Karim Small Oman 25 tahun/ 88% atas laba dari jumlah 12% atas laba dari jumlah
Fields/ 25 years produksi/ produksi/
Karim Small Fields 88% of profit from total 12% of profit from total
production production
Medco Arabia Ltd Blok 56/ Oman 20 tahun/ 75% atas laba dari jumlah 25% atas laba dari jumlah
Block 56 20 years produksi untuk minyak dan produksi untuk minyak dan
70% untuk gas/ 30% untuk gas/
75% of profit from total 25% of profit from total
production for oil and 70% production for oil and 30%
for gas for gas
Medco Yemen Blok 9/ Yaman/ 25 tahun/ Kisaran 70%-80% atas laba Kisaran 20%-30% atas laba
Malik Ltd Block 9 Yemen 25 years minyak (untuk produksi minyak (untuk produksi
25.000 bopd sampai dengan 25.000 bopd sampai dengan
100.000 bopd)/ 100.000 bopd)/
70%-80% range of profit oil 20%-30% range of profit oil
(for production of 25,000 (for production of 25,000
bopd up to 100,000 bopd) bopd up to 100,000 bopd)
Ophir Tanzania Blok 1/ Tanzania 11 tahun/ Minyak/Oil Minyak/Oil
(Block 1) Limited Block 1 11 years *) - 40% - 60% laba dari - 40% - 60% laba dari
minyak tergantung pada minyak tergantung pada
kenaikan tingkat total kenaikan tingkat total
produksi harian/ produksi harian/
40% - 60% of profit oil 40% - 60% of profit oil
depending on increments depending on increments
of daily total production of daily total production
rate rate
Gas Gas
- Akan ditentukan setelah - Akan ditentukan setelah
ada penemuan komersial ada penemuan komersial
gas alam yang tidak gas alam yang tidak
terkait/ terkait/
To be determined once To be determined once
there is a commercial there is a commercial
discovery of non- discovery of non-
associated natural gas associated natural gas
Ophir Tanzania Blok 4/ Tanzania 11 tahun/ Minyak/Oil Minyak/Oil
(Block 1) Limited Block 4 11 years *) - 42,5% - 62,5% laba dari - 37,5% - 57,5% laba dari
minyak tergantung pada minyak tergantung pada
kenaikan tingkat total kenaikan tingkat total
produksi harian/ produksi harian/
42.5% - 62.5% of profit oil 37.5% - 57.5% of profit oil
depending on increments depending on increments
of daily total production of daily total production
rate rate
Gas Gas
- Akan ditentukan setelah - Akan ditentukan setelah
ada penemuan komersial ada penemuan komersial
gas alam yang tidak gas alam yang tidak
terkait/ terkait/
To be determined once To be determined once
there is a commercial there is a commercial
discovery of non- discovery of non-
associated natural gas associated natural gas
268
Page 437
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 435
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
47. KESEPAKATAN BAGI HASIL MINYAK DAN GAS 47. OIL AND GAS PRODUCTION SHARING
(lanjutan) ARRANGEMENTS (continued)
b. Kesepakatan Bagi Hasil - Internasional b. Production Sharing Arrangements -
(lanjutan) International (continued)
(1) Grup memiliki kesepakatan bagi hasil di (1) The Group has production sharing
Yaman, dan Tanzania serta kontrak jasa di arrangements in Yemen, and Tanzania and
Oman dengan kerangka fiskal sebagai also a service contract in Oman with the
berikut: (lanjutan) following fiscal arrangements: (continued)
Perjanjian Bagi Hasil Konsesi/
Kepemilikan Negara Operasi/ Jangka Waktu Concession Production Sharing Agreement
Entitas Anak/
Blok/ Country of Kontrak/
Subsidiaries Pemerintah Setempat/ Entitas Anak/
Block Ownership Operations Contract Term
Local Government Subsidiaries
MedcoEnergi Blok 60/ Oman 30 tahun sejak Minyak/Oil: 65% - 85% laba Minyak/Oil: 35% - 15% laba
Oman Block 60 Block 60 declaration of dari minyak tergantung pada dari minyak tergantung pada
Limited commerciality harga minyak mentah harga minyak mentah
terakhir, yaitu bulanan/ bulanan/
hingga 7 April 65% - 85% of profit oil 35% - 15% of profit oil
2048/ depending on monthly crude depending on monthly crude
30 years as of oil price oil price
latest declaration Gas: 60% - 80% dari laba Gas: 40% - 20% dari laba
of commerciality, gas tergantung rata-rata gas tergantung rata-rata
i.e. until April 7, produksi gas harian untuk produksi gas harian untuk
2048 bulan tersebut/ bulan tersebut/
60% - 80% of profit natural 40% - 20% of profit natural
gas depending on the gas depending on the
average daily net production average daily net production
of natural gas for the relevant of natural gas for the relevant
month month
MedcoEnergi Blok 48/ Oman Fase Kedua Minyak/Oil: 70% - 80% laba Minyak/Oil: 20% - 30% laba
Oman Block 48 Block 48 periode eksplorasi dari minyak tergantung pada dari minyak tergantung pada
Limited hingga 31 rata-rata produksi harian/ rata-rata produksi harian/
Desember 2025 70% - 80% of profit oil 20% - 30% of profit oil
dan dapat depending on average of depending on average of
diperpanjang daily production daily production
apabila ada
declaration of
commerciality/ Gas: 60% - 80% laba dari Gas: 20% - 40% laba dari
Second Phase gas tergantung pada rata- gas tergantung pada rata-
exploration period rata produksi harian gas rata produksi harian gas
extension until bumi untuk bulan yang bumi untuk bulan yang
December 31, relevan/ relevan/
2025 and may be 60% - 80% of profit gas 20% - 40% of profit gas
extended if there depending on average daily depending on average daily
is declaration of net production of natural gas net production of natural gas
commerciality for the relevant month for the relevant month
*) Izin eksplorasi untuk Blok 1 dan Blok 4 berakhir *) Exploration licenses for Block 1 and Block 4
pada Desember 2024. Shell sebagai Operator expired in December 2024. Shell as the Operator
diberitahu oleh Tanzania Petroleum Development was notified by Tanzania Petroleum Development
Corporation (TPDC) bahwa Kementerian Energi Corporation (TPDC) that the Ministry of Energy
telah mengeluarkan pemberitahuan rencana has issued a notice of intention to grant a New
untuk memberikan Izin Eksplorasi Baru untuk Exploration License for Block 1 and an Extension
Blok 1 dan Perpanjangan untuk Blok 4. for Block 4.
Penyelesaian persyaratan dengan pemerintah Finalization of the terms with the government is
masih berlangsung dan diharapkan akan selesai still underway and anticipated to be completed in
dalam waktu dekat. the near future.
269
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2025 Management Business Company Corporate
436 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
47. KESEPAKATAN BAGI HASIL MINYAK DAN GAS 47. OIL AND GAS PRODUCTION SHARING
(lanjutan) ARRANGEMENTS (continued)
b. Kesepakatan Bagi Hasil - Internasional b. Production Sharing Arrangements -
(lanjutan) International (continued)
(2) Grup memiliki kesepakatan royalti dengan (2) The Group has royalty arrangements with the
pengaturan fiskal sebagai berikut: following fiscal arrangements:
Kepemilikan Negara Operasi/ Jangka Waktu
Entitas Anak/ Kesepakatan Royalti/
Blok/ Country of Kontrak/
Subsidiaries Royalty Arrangements
Block Ownership Operations Contract Term
Ophir Mexico Blok 10/ Mexico 35 tahun/ - Biaya kontrak selama tahap eksplorasi/
Operations, S.A. Block 10 35 years Contract fee during exploration phase
DE C.V.
- Royalti ditentukan untuk setiap jenis hidrokarbon yang
persentasenya dihitung berdasarkan formula tertentu/
Royalty determined for each type of hydrocarbon which
percentage is calculated based on a specific formula
- 20% jumlah produksi/20% total production
Ophir Mexico Blok 12/ Mexico 35 tahun/ - Biaya kontrak selama tahap eksplorasi/
Operations, S.A. Block 12 35 years Contract fee during exploration phase
DE C.V.
- Royalti ditentukan untuk setiap jenis hidrokarbon yang
persentasenya dihitung berdasarkan formula tertentu/
Royalty determined for each type of hydrocarbon which
percentage is calculated based on a specific formula
- 20% jumlah produksi/20% total production
- Medco Energi Blok B8/38/ Thailand 20 tahun/ - 5% - 15% royalti berdasarkan penjualan kotor dan
(Thailand) Block B8/38 20 years volume pembuangan bulanan/
Bualuang Limited 5% - 15% royalty based on monthly gross sale and
- Medco Energi disposal volume
(Thailand) E&P
Limited - Manfaat Remunerasi Khusus (pajak tak terduga)/
Special Remuneration Benefit (windfall tax)
Komitmen pengeluaran yang masih tersisa The total remaining commitment for exploration
untuk kegiatan eksplorasi sehubungan dengan expenditures related to the contracts above as
kontrak-kontrak tersebut pada 31 Desember of December 31, 2025 and 2024 is amounting to
2025 dan 2024 masing-masing sebesar AS$0,1 US$0.1 million and US$0.1 million, respectively.
juta dan AS$0,1 juta.
48. AKUISISI DAN PENGALIHAN YANG SIGNIFIKAN 48. SIGNIFICANT ACQUISITIONS AND DISPOSALS
Selama periode pelaporan, Grup melakukan During the reporting period, the Group made several
beberapa akuisisi entitas anak dan ventura acquisitions of subsidiaries and joint venture,
bersama, termasuk akuisisi dan pelepasan including acquisitions and disposals of ownership
kepemilikan dan/atau hak partisipasi (seluruh atau interests and/or participating interest (a whole or in
sebagian), dimana akuisisi dan pelepasan yang part), whereby the significant acquisitions and
signifikan disajikan di paragraf berikut. disposals are disclosed in the succeeding
paragraphs herein.
Grup telah membuat analisa penilaian provisional The Group has performed a provisional valuation
atas nilai wajar sementara aset teridentifikasi yang analysis of the provisional fair value of identifiable
diperoleh dan liabilitas yang diambil alih. assets acquired and liabilities assumed. Using a
Menggunakan sejumlah pertimbangan untuk number of judgment on the acquisitions, the Group
akuisisinya, Grup telah mengestimasi alokasi atas has estimated the allocation of the costs of the
aset dan liabilitas tersebut. acquisitions to the identifiable assets and liabilities.
270
Page 439
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 437
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
48. AKUISISI DAN PENGALIHAN YANG SIGNIFIKAN 48. SIGNIFICANT ACQUISITIONS AND DISPOSALS
(lanjutan) (continued)
Nilai wajar yang disajikan adalah jumlah sementara The fair values disclosed are provisional due to
mengingat kompleksitas dari akuisisi dan sifat complexity of the acquisitions and the inherent
ketidakpastian yang inheren dari sektor minyak dan uncertain nature of the oil and gas sector,
gas bumi, terutama dalam menentukan penilaian particularly in valuing oil and gas properties and
aset minyak dan gas bumi dan pertambangan. mining properties. The revision of the fair values of
Revisi atas nilai wajar aset dan liabilitas yang the assets acquired and liabilities assumed will be
diakuisisi akan diselesaikan paling lambat dalam 12 completed within 12 months from the acquisition.
bulan sejak tanggal akuisisi.
Alokasi harga pembelian provisional digunakan This provisional purchase price allocation has been
pada laporan posisi keuangan konsolidasian dan used in the consolidated statements of financial
laporan laba rugi dan penghasilan komprehensif position and profit or loss and other comprehensive
lainnya. Alokasi harga pembelian final akan income. The final purchase price allocation will be
ditentukan pada saat Grup telah menyelesaikan determined when the Group has completed the
penilaian yang rinci dan perhitungan lain yang detailed valuations and necessary calculations. The
dianggap perlu. Alokasi final mungkin berbeda final allocation could differ materially from the
secara material dari alokasi provisional. Alokasi final provisional allocation. The final allocation may
mungkin termasuk; (1) perubahan nilai wajar dari include; (1) changes in fair values of oil and gas
aset minyak dan gas bumi; (2) perubahan dalam properties; (2) changes in allocations to intangible
alokasi aset tak berwujud seperti teknologi dan assets such as technology and customer
hubungan pelanggan serta goodwill (pembelian relationships as well as goodwill (bargain purchase);
dengan diskon); dan (3) perubahan lain dari aset and (3) other changes to assets and liabilities.
dan liabilitas.
i. Pada tanggal 30 Juli 2025, Medco International i. On July 30, 2025, Medco International Services
Services Pte. Ltd. ("MISP") dan Medco Energi Pte. Ltd. ("MISP") and Medco Energi Global
Global Pte. Ltd. ("MEGP") menandatangani Pte. Ltd. ("MEGP") signed a Shares Sale and
Perjanjian Jual Beli Saham dengan Repsol Purchase Agreement with Repsol Exploracion
Exploracion S.A. untuk penjualan dan S.A. for the sale and purchase of 100% of the
pembelian 100% modal saham Repsol share capital of Repsol Sakakemang B.V. which
Sakakemang B.V., yang memiliki 45% owns 45% operating participating interest in
participating interest sekaligus bertindak PSC Sakakemang and Repsol Exploracion
sebagai operator di PSC Sakakemang, serta South Sakakemang S.L.U which owns 80%
Repsol Exploracion South Sakakemang S.L.U., operating participating interest in PSC South
yang memiliki 80% participating interest Sakakemang. The acquisition of Sakakemang
sekaligus bertindak sebagai operator di PSC PSC closed on November 7, 2025, and subject
South Sakakemang. Akuisisi PSC Sakakemang to certain future contingent conditions being
telah selesai pada 7 November 2025, dan satisfied, the Group shall pay a contingent
dengan ketentuan bahwa apabila kondisi- consideration. As of the date of this report, the
kondisi kontinjensi di masa mendatang acquisition of South Sakakemang PSC is not
terpenuhi, Grup akan membayarkan sejumlah yet effective.
uang tunai sebagai pertimbangan kontinjensi.
Hingga tanggal laporan ini, akuisisi PSC South
Sakakemang belum efektif.
ii. Pada 26 Juni 2025, Far East Energy Trading ii. On June 26, 2025, Far East Energy Trading
Pte. Ltd, entitas anak yang secara tidak Pte. Ltd, an indirect wholly-owned subsidiary of
langsung dimiliki seluruhnya oleh Perusahaan, the Company, and Repsol E&P S.a.r.l signed a
dan Repsol E&P S.a.r.l menandatangani Share Sale and Purchase Agreement to acquire
Perjanjian Jual Beli Saham untuk mengakuisisi Fortuna International (Barbados), Inc ("FIBI")
Fortuna International (Barbados), Inc ("FIBI") which holds an indirect 24% interest in the
yang memiliki 24% interest tidak langsung pada Corridor PSC, through Repsol Corridor S.A.U.
PSC Corridor, melalui Repsol Corridor S.A.U. in a recommended cash offer valued at
dengan rekomendasi pembelian kas sejumlah US$394.3 million.
AS$394,3 juta.
271
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2025 Management Business Company Corporate
438 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
48. AKUISISI DAN PENGALIHAN YANG SIGNIFIKAN 48. SIGNIFICANT ACQUISITIONS AND DISPOSALS
(lanjutan) (continued)
Pada 28 Juli 2025, transaksi akuisisi telah On July 28, 2025, the acquisition has
selesai dilakukan. Dengan demikian, successfully completed. Therefore, the
Perusahaan berhasil meningkatkan Company has been able to increase its
participating interest di blok Corridor dari participating interest in Corridor Block from 46%
sebelumnya 46% menjadi 70%. Berdasarkan to 70%. Under the Shares Sale and Purchase
Perjanjian Jual Beli Saham, Grup diwajibkan Agreement, the Group shall pay for a future
untuk membayar imbalan kontinjensi di masa contingent consideration, however Management
depan, namun, Manajemen berkeyakinan believes that the contingent conditions are
bahwa kondisi-kondisi kontinjensi tersebut kecil unlikely being satisfied.
kemungkinannya untuk terpenuhi.
Nilai wajar sementara dari aset teridentifikasi The provisional fair values of the identifiable
yang diperoleh dan liabilitas yang diambil alih assets acquired and liabilities assumed of FIBI
FIBI pada tanggal efektif akuisisi (28 Juli 2025) at the effective date of acquisition (July 28,
adalah: 2025) were:
Nilai Wajar Sementara
(AS$)/
Provisional Fair Value
(US$)
Aset Assets
Kas dan setara kas 11.643.141 Cash and cash equivalents
Piutang usaha 20.925.959 Trade receivables
Piutang lain-lain 13.653.254 Other receivables
Persediaan 5.541.383 Inventories
Pajak dibayar dimuka 3.905.009 Prepaid taxes
Aset eksplorasi dan evaluasi 5.269.179 Exploration and evaluation assets
Aset minyak dan gas bumi 427.730.821 Oil and gas properties
Aset lain-lain 3.901.522 Other assets
Sub-jumlah 492.570.268 Sub-total
Liabilitas Liabilities
Utang usaha 7.677.027 Trade payables
Utang pajak 4.602.650 Taxes payables
Utang lain-lain 92.849 Other payables
Biaya akrual 32.064.789 Accrued expenses
Liabilitas pajak tangguhan 154.721.916 Deferred tax liabilities
Liabilitas imbalan kerja jangka panjang 329.614 Long-term employee benefits liabilities
Sub-jumlah 199.488.845 Sub-total
Nilai wajar aset neto teridentifikasi 293.081.423 Total identifiable net assets at fair values
Goodwill (Catatan 19) 101.205.492 Goodwill (Note 19)
Imbalan pembelian yang dialihkan 394.286.915 Purchase consideration transferred
Dikurangi kas yang diperoleh dari entitas
anak yang diakuisisi (11.643.141) Net cash of the acquired subsidiary
Akuisisi entitas anak, setelah dikurangi Acquisition of a subsidiary, net of cash
kas yang diperoleh 382.643.774 acquired
272
Page 441
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 439
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
48. AKUISISI DAN PENGALIHAN YANG SIGNIFIKAN 48. SIGNIFICANT ACQUISITIONS AND DISPOSALS
(lanjutan) (continued)
Nilai wajar yang disajikan adalah jumlah The fair value disclosed are provisional as of
sementara pada tanggal 28 Juli 2025 July 28, 2025, due to the complexities of the
dikarenakan kompleksitas dari akuisisi, acquisition, in particular, in valuing the
terutama dalam menentukan nilai investasi di investment value in FIBI. The review of the fair
FIBI. Penelaahan atas nilai wajar aset dan value of the assets and liabilities acquired will
liabilitas yang diperoleh akan diselesaikan be completed within 12 months of the
paling lambat dalam waktu 12 bulan sejak acquisition at the latest. The goodwill
tanggal akuisisi. Goodwill yang diakui terutama recognized primarily represents expected
merepresentasikan keuntungan ekonomis di future economic benefits arising from
masa mendatang yang berasal dari kemajuan improvements in development of reservoir
dari pengembangan pemulihan cadangan, dan recovery, and future exploration opportunities,
peluang eksplorasi masa depan, yang tidak which are not separately identifiable or
dapat diidentifikasi secara terpisah atau diakui recognized as intangible assets.
sebagai aset tidak berwujud.
Efektif tanggal 16 Oktober 2025, Repsol Effective on October 16, 2025, Repsol Corridor
Corridor, S.A.U telah melakukan perubahan S.A.U has changed its registered company
nama perusahaan terdaftar menjadi Medco name to Medco E&P Corridor S.A.U.
E&P Corridor, S.A.U.
Dari tanggal akuisisi hingga tanggal 31 From the date of acquisition until December 31,
Desember 2025, akuisisi FIBI telah 2025, FIBI has contributed US$102.3 million to
berkontribusi sebesar AS$102,3 juta terhadap the Group’s revenue and US$36 million to the
pendapatan Grup dan AS$36 juta terhadap laba Group’s profit before taxes. If the acquisition
sebelum pajak penghasilan Grup. Apabila had taken place at January 1, 2025, the
akuisisi telah dilakukan sejak 1 Januari 2025, contribution of FIBI to the Group’s revenue and
kontribusi FIBI terhadap pendapatan dan laba profit before taxes for the period ended
sebelum pajak Grup untuk tahun yang berakhir December 31, 2025 would have been US$246.4
pada 31 Desember 2025 dapat menjadi million and US$101.5 million, respectively.
masing-masing sebesar AS$246,4 juta dan
AS$101,5 juta.
iii. Pada tanggal 20 Juni 2025, PT Mitra Energi iii. On June 20, 2025, PT Mitra Energi Pelayaran,
Pelayaran, entitas anak yang secara tidak an indirect wholly-owned subsidiary of the
langsung dimiliki seluruhnya oleh Perusahaan, Company, entered into a Conditional Sale and
menandatangani Perjanjian Jual Beli Bersyarat Purchase Agreement (CSPA) for the acquisition
(PJBB) untuk akuisisi FPSO Marlin Natuna dari of the FPSO Marlin Natuna from PT Hanochem
PT Hanochem Tiaka Samudera. Transaksi ini Tiaka Samudera. The transaction was
diselesaikan pada tanggal 23 September 2025, completed on September 23, 2025, following
setelah terpenuhinya seluruh syarat dan the fulfilment of all conditions precedent under
ketentuan dalam PJBB (Catatan 15). the CSPA (Note 15).
iv. Pada tanggal 1 Agustus 2024, MEPCHL iv. On August 1, 2024, MEPCHL acquired 35% of
mengakuisisi 35% kepemilikan saham di shares in Transasia Pipeline Company Pvt. Ltd.
Transasia Pipeline Company Pvt. Ltd. dari from Petronas International Corporation Ltd.
Petronas International Corporation Ltd. The transaction was completed on November
Transaksi tersebut telah diselesaikan tanggal 29, 2024, bringing MEPCHL's shareholding in
29 November 2024 sehingga porsi kepemilikan Transasia to 85%.
saham MEPCHL di Transasia menjadi 85%.
Berdasarkan Transasia Joint Venture Based on the Transasia Joint Venture
Agreement, dengan kepemilikan hingga 85%, Agreement, with ownership of up to 85%, the
Perusahaan dianggap memiliki pengendalian. Company is considered to have control. Thus,
Dengan demikian, Perusahaan telah the Company has consolidated Transasia since
mengkonsolidasikan Transasia sejak tanggal its effective date.
efektifnya.
273
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2025 Management Business Company Corporate
440 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
48. AKUISISI DAN PENGALIHAN YANG SIGNIFIKAN 48. SIGNIFICANT ACQUISITIONS AND DISPOSALS
(lanjutan) (continued)
Nilai wajar final dari aset teridentifikasi yang The final fair values of the identifiable assets
diperoleh dan liabilitas yang diasumsikan atas acquired and the assumed liabilities of
Transasia pada tanggal 29 November 2024 Transasia as of November 29, 2024
(tanggal efektif akuisisi) sebagaimana (acquisition effective date) are disclosed below:
diungkapkan di bawah ini:
Nilai Wajar Final
(AS$)/
Final Fair Value
(US$)
Aset Assets
Kas dan setara kas 419.063 Cash and cash equivalents
Investasi jangka panjang 244.138.106 Long-term investments
Sub-jumlah 244.557.169 Sub-total
Liabilitas Liabilities
Biaya akrual dan provisi lain-lain 19.835.203 Accrued expenses and other provisions
Utang lain-lain 60.481 Other payables
Sub-jumlah 19.895.684 Sub-total
Aset neto pada nilai wajar 224.661.485 Net assets at fair value
Bagian kepentingan nonpengendali atas aset neto
teridentifikasi (33.699.223) Non-controlling interest of identifiable net assets
Nilai wajar kepemilikan saham Perusahaan di Fair value of the Company's equity interest in
Transasia sebelum kombinasi bisnis (112.330.743) Transasia held before the business combination
Nilai wajar aset neto teridentifikasi 78.631.519 Total identifiable net assets at fair values
Keuntungan pembelian diskon (51.586.361) Bargain purchase
Imbalan pembelian yang dialihkan 27.045.158 Purchase consideration transferred
Dikurangi kas yang diperoleh dari entitas anak
yang diakuisisi (419.063) Net cash of the acquired subsidiary
Akusisi entitas anak, setelah dikurangi kas Acquisition of a subsidiary, net of cash
yang diperoleh 26.626.095 acquired
Bagian kepentingan nonpengendali diukur pada The non-controlling interest is measured at the
proporsi kepemilikan kepentingan non- proportionate share in the non-controlling of the
pengendali atas aset neto teridentifikasi dari acquiree's identifiable net assets.
pihak diakuisisi.
Grup mengakui kerugian neto sebesar AS$15,4 The Group recognized a loss of US$15.4 million
juta atas pengukuran kembali 50% kepentingan as a result of the remeasurement of its
yang dimiliki sebelumnya di Perusahaan pada previously held 50% equity interest in the
nilai wajar tanggal akuisisi. Kerugian ini diakui Company at its acquisition date fair value. The
di laporan laba rugi dan penghasilan loss is recognized in the December 31, 2024
komprehensif lain konsolidasian tanggal 31 consolidated statement of profit or loss and
Desember 2024. other comprehensive income.
274
Page 443
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 441
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
48. AKUISISI DAN PENGALIHAN YANG SIGNIFIKAN 48. SIGNIFICANT ACQUISITIONS AND DISPOSALS
(lanjutan) (continued)
Grup mengakui keuntungan pembelian diskon Group recognized bargain purchase of US$51.6
sebesar AS$51,6 juta sebagai hasil akuisisi million as a result of the acquisition of 35% of
35% kepemilikan saham di Transasia Pipeline shares in Transasia from Petronas International
Company Pvt. Ltd. dari Petronas International Corporation Ltd. Management believes that the
Corporation Ltd. Manajemen berkeyakinan Group acquire Transasia for less than the fair
bahwa akuisisi Transasia dengan nilai yang value of its assets because of the synergies and
lebih rendah dari nilai wajar asetnya karena also planned restructuring of Transasia will be
integrasi dengan kegiatan usaha Grup dan beneficial for the Group.
restrukturisasi Transasia yang direncanakan
akan menguntungkan untuk Grup.
Selanjutnya, pada tanggal 29 Juli 2025, Subsequently, on July 29, 2025, MEPCHL and
MEPCHL dan SPC Indo-Pipeline Co. Ltd. SPC Indo-Pipeline Co. Ltd. (“SPC”) entered into
(“SPC”) menandatangani Perjanjian Jual Beli a Share Sale and Purchase Agreement
Saham terkait pengalihan 15% kepemilikan regarding the transfer of 15% of the shares in
saham di Transasia Pipeline Company Pvt. Ltd. Transasia Pipeline Company Pvt. Ltd.
(“Transasia”) dari SPC kepada MEPCHL. (“Transasia”) from SPC to MEPCHL. This
Transaksi ini akan mengakibatkan MEPCHL transaction will result in MEPCHL becoming the
menjadi pemegang saham tunggal dalam sole shareholder in Transasia. The transaction
Transasia. Transaksi ini diselesaikan pada was completed on 16 September 2025,
tanggal 16 September 2025, setelah following the fulfilment of all conditions
terpenuhinya seluruh syarat dan ketentuan precedent under the Share Sale and Purchase
dalam Perjanjian Jual Beli Saham. Agreement.
v. Pada tanggal 24 May 2024, Medco dan v. On May 24, 2024, Medco and National Oil
National Oil Corporation of Libya ("NOC") telah Corporation of Libya ("NOC") have completed
menyelesaikan pengalihan seluruh participating the transfer of the Company’s entire (50%)
interest Perseroan (50%) dalam Perjanjian Bagi participating interest in the Contract Area 47
Hasil Eksplorasi dan Produksi (“EPSA”) di Exploration and Production Sharing Agreement
Kontrak Area 47 dan seluruh kepemilikan (“EPSA”), and its entire (24.5%) shareholding in
saham Perseroan (24,5%) di Joint Operating the Joint Operating Company, Nafusah Oil
Company, Nafusah Oil Operations B.V. Operations B.V (Note 39).
(Catatan 39).
vi. Pada tanggal 19 April 2024, Perusahaan vi. On April 19, 2024, the Company has completed
menyelesaikan divestasi dari seluruh sahamnya the divestment of its entire share capital in
pada Ophir Vietnam Block 12W B.V. ("OVBV") Ophir Vietnam Block 12W B.V. (“OVBV”) to
kepada Bitexco Energy Company Limited. Bitexco Energy Company Limited. OVBV holds
OVBV memegang 31,875% partisipasi interes a 31.875% participating interest in Chim Sao
di Chim Sao dan Dua (Block 12W), lapangan and Dua (Block 12W), the producing oil and gas
minyak dan gas yang berproduksi di Vietnam. field located in Vietnam.
275
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2025 Management Business Company Corporate
442 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN COMMITMENTS
a. Perjanjian Pasokan Gas ("GSA") a. Gas Supply Agreement ("GSA")
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco E & P Indonesia
PT Perusahaan Gas Negara Efektif sejak tanggal 8 Komitmen untuk memasok gas 27 November 2033 atau berakhirnya
Tbk (“PGN”) – City Gas September 2020 berdasarkan dengan perkiraan total jumlah produksi gas di Blok South
Palembang Perjanjian Jual Beli Gas kontrak sebesar 1.931,60 MMSCF/ Sumatera, mana yang terjadi lebih
tanggal 15 Maret 2022/ Commitment to supply gas of with dahulu/
Effective since September 8, indicative total contract quantity of November 27, 2033 or until end of
2020 through Gas Sales 1,931.60 MMSCF. the production South Sumatera
Purchase Agreement dated Block, whichever occurs first.
March 15, 2022
PT MEPPO-GEN – Blok 13 November 2018; terakhir Komitmen untuk memasok gas (joint 31 Desember 2027 atau sampai
South Sumatera & Lematang diubah pada tanggal 17 contract dengan PT Medco E & P terpenuhinya total jumlah kontrak,
Oktober 2019/ Lematang (“MEPL”)) dengan total yang mana terjadi lebih dahulu/
November 13, 2018; last jumlah kontrak sebesar 27.330,90 December 31, 2027 or until total
amendment dated October BBTU dari South Sumatera PSC contract quantity has been fully
17, 2019 (Total jumlah kontrak joint supply supplied, whichever occurs first.
sebesar 40.136,20 BBTU)/
Commitment to supply gas (joint
contract with PT Medco E & P
Lematang (“MEPL”)) with total
contract quantity of 27,330.90 BBTU
from South Sumatera PSC (Total
joint supply contract quantity
40,136.20 BBTU).
Perusahaan Daerah Mura 4 Agustus 2009; diubah Komitmen untuk memasok gas 31 Desember 2027 dari tanggal
Energi terakhir tanggal 25 Maret dengan jumlah kontrak 6.039 BBTU/ dimulai atau sampai terpenuhinya
2022/ Commitment to supply gas with total jumlah kontrak, mana yang terjadi
August 4, 2009; last contract of 6,039 BBTU. lebih dahulu/
amendment dated March 25, December 31, 2027 since the start
2022 date or until total contract quantity
has been fully supplied, whichever
occurs first.
PT Mitra Energi Buana 24 Juli 2006; diubah terakhir Komitmen untuk memasok gas 31 Desember 2027 atau sampai
tanggal 11 Juli 2024 dengan jumlah kontrak 26.172 terpenuhinya total jumlah kontrak,
July 24, 2006; last BBTU/ yang mana terjadi lebih dahulu/
amendment dated July 11, Commitment to supply gas with total December 31, 2027 or until total
2024 gas contract quantity of 26,172 contract quantity has been fully
BBTU. supplied, whichever occurs first.
PT Perusahaan Gas Negara 4 Mei 2018/ Komitmen untuk memasok gas 20 Juli 2027 atau sampai dengan
(Persero) Tbk – City Gas May 4, 2018 untuk memenuhi kebutuhan gas berakhirnya produksi gas bumi dari
Muba rumah tangga di Kabupaten Musi wilayah kerja, yang mana terjadi
Banyuasin dengan total jumlah lebih dahulu/
kontrak sebesar 871 BBTU/ July 20, 2027 or until the end of
Commitment to supply gas to meet production of gas from contract
the needs of households in area, whichever occurs first.
Kabupaten Musi Banyuasin with
total contract quantity of 871 BBTU.
276
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 443
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco E & P Indonesia (lanjutan/continued)
PT Pertamina (Persero) - City Efektif tanggal 30 Januari Komitmen untuk memasok gas 20 Juli 2027 atau sampai dengan
Gas Muara Enim 2018 melalui Kesepakatan dengan total jumlah kontrak sebesar berakhirnya produksi gas bumi dari
Bersama; diubah terakhir 855,25 MMSCF/ wilayah kerja, yang mana terjadi
melalui Perjanjian Jual Beli Commitment to supply gas with total lebih dahulu/
Gas tanggal 15 November contract quantity of 855.25 MMSCF. July 20, 2027 or until the end of
2019/ production of gas from contract area,
Effective since January 30, whichever occurs first.
2018 through Mutual
Agreement; last amendment
through Gas Sales Purchase
Agreement dated November
15, 2019
PT Perusahaan Listrik Negara 19 September 2017; diubah Komitmen untuk memasok dan 31 Januari 2027 atau sampai
(Persero) - Blok South terakhir kali pada tanggal 25 menjual gas (joint supply dengan terpenuhinya jumlah kontrak
Sumatera & Lematang Juni 2025/ MEPL) dengan jumlah kontrak penyerahan gas, yang mana yang
September 19, 2017; last sebanyak 50.932,8 BBTU (Jumlah terjadi lebih dahulu/
amended dated on June 25, kontrak joint supply sebesar 70.260 January 31, 2027 or until such
2025 BBTU)/ quantity has been fully supplied,
Commitment to supply and sell gas whichever occurs first.
(joint supply with MEPL) with total
contract quantity of 50,932.8 BBTU
(Total joint supply contract quantity
70,260 BBTU).
PT Pupuk Sriwidjaja PJBG 1 Desember 2021; Komitmen untuk memasok gas 27 November 2033 atau sampai
Palembang - Blok South perubahan terakhir melalui dengan jumlah kontrak 45.225 seluruh jumlah yang disepakati telah
Sumatera Amendemen tanggal 25 BBTU/ dipasok, yang mana terjadi lebih
November 2022/ Commitment to supply gas with total dahulu/
GSA December 1, 2021; last gas contract quantity of 45,225 November 27, 2033 or until such
amendment dated November BBTU. quantity has been fully supplied,
25, 2022 whichever occurs first.
PT Pupuk Sriwidjaja PJBG 20 September 2023/ Komitmen untuk memasok dan 27 November 2033 atau sampai
Palembang - Blok South GSA September 20, 2023 menjual gas (joint supply dengan terpenuhinya jumlah kontrak
Sumatera & Lematang MEPL) dengan jumlah kontrak penyerahan gas dari MEPI, yang
sebanyak 31.150 BBTU (Jumlah mana yang terjadi lebih dahulu/
kontrak joint supply sebesar 41.829 November 27, 2033 or until such
BBTU)/ quantity from MEPI has been fully
Commitment to supply and sell gas supplied, whichever occurs first.
(joint supply with MEPL) with total
contract quantity of 31,150 BBTU
(Total joint supply contract quantity
41,829 BBTU).
PT Perusahaan Gas Negara PJBG 6 Februari 2025; Komitmen untuk memasok gas 4 Tahun sejak tanggal dimulai atau
Tbk perubahan terakhir melalui untuk memenuhi kebutuhan sampai dengan terpenuhinya Jumlah
Amendemen tanggal 5 komersial, industri dan kelistrikan Total Kontrak ("JTK"), mana yang
November 2025/ pelanggan PGN di Sumatera lebih dahulu tercapai/
GSA February 6, 2025; last Selatan dan Jawa Barat dengan total 4 years since start date or until Total
amendment on November 5, jumlah kontrak sebesar 3.743 BBTU/ Contract Quantity ("TCQ") fulfilled,
2025 Commitment to supply gas to meet whichever occurs first.
the commercial needs, industry and
electricity for PGN customers in
Southern Sumatera and West Java
with total contract quantity of 3,743
BBTU.
277
Page 446
2025 Management Business Company Corporate
444 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco E & P Tarakan ("MEPT")
PT PLN (Persero) - Blok PJBG 25 November 2022; PJBG berakhir pada 31 Desember Sejak 1 Januari 2026 sampai
Tarakan (MEPI sebagai perubahan terakhir melalui 2025 dan diperpanjang sampai 31 dengan 31 Desember 2030 atau
Penjual untuk periode sejak 1 Amendemen tanggal 25 Juni Desember 2030 dengan total jumlah sampai terpenuhinya jumlah kontrak
Januari 2022 sampai dengan 2025/ kontrak 2.990 BBTU. SKK Migas penyerahan gas, yang mana yang
13 Januari 2022 & MEPT GSA November 25, 2022; last telah mengeluarkan surat izin Prinsip terjadi lebih dahulu/
sebagai Penjual untuk amendment on June 25, Pengaliran Gas tertanggal 24 Since January 1, 2026 until
periode sejak 14 Januari 2022 2025. Desember 2025 untuk pengaliran December 31, 2030 or until such
sampai dengan berakhirnya Gas Tarakan periode 1 Januari 2026 quantity has been fully supplied,
PJBG)/ dan selanjutnya. Saat ini whichever occurs first.
PT PLN (Persero) - Tarakan Amendemen PJBG dalam proses
Block (MEPI as Seller for tanda tangan/
period from January 1, 2022 GSA is expired on December 31,
until January 13, 2022 & 2025 and extended until December
MEPT as Seller from period 31, 2030 with total contract value of
January 14, 2022 until the 2,990 BBTU. SKK Migas has issued
end of GSA) Gas Delivery Permit dated
December 24, 2025 for Tarakan Gas
Delivery period of January 1, 2026
onwards. Currently GSA
Amendemen is on signing process.
PT Perusahaan Gas Negara PJBG 21 Juni 2024 Komitmen untuk memasok gas Sejak tanggal 14 Januari 2022
Tbk (perjanjian berlaku efektif sejumlah 0,30 MMSCFD dengan sampai dengan berakhirnya
sejak 14 Januari 2022)/ total jumlah kontrak 982,20 MMSCF/ produksi gas wIlayah kerja Tarakan
GSA June 21, 2024 Commitment to supply gas 0,30 atau berakhirnya PSC Tarakan,
(agreement effective since MMSCFD with total gas contract mana yang terjadi lebih dahulu/
January 14, 2022) quantity of 982,20 MMSCF. Effective since January 14, 2022
until the end of production of gas
from contract area or the end of PSC
Tarakan, whichever occurs first.
PT Medco E & P Lematang ("MEPL")
PT MEPPO-GEN - Blok South 13 November 2018, diubah Komitmen untuk memasok gas 31 Desember 2027 atau sampai
Sumatera & Lematang terakhir tanggal 17 Oktober sebanyak 10,8-11,6 BBTUD (joint terpenuhinya total jumlah kontrak,
2019/ contract dengan PT Medco E & P yang mana terjadi lebih dahulu/
November 13, 2018, last Indonesia (MEPI)) dengan total December 31, 2027 or until total
amendment dated October jumlah kontrak sebesar 12.805,3 contract quantity has been fully
17, 2019 BBTU (Jumlah kontrak joint supply supplied, whichever occurs first.
sebesar 40.136,2 BBTU)/
Commitment to supply 10.8-11.6
BBTUD of gas (joint contract with PT
Medco E & P Indonesia (MEPI)) with
total contract quantity of 12,805.3
BBTU (Total joint supply contract
quantity 40,136.2 BBTU).
PT Perusahaan Listrik Negara 21 Maret 2007, diubah Komitmen untuk memasok dan 31 Januari 2027 atau sampai
(Persero) - Blok South terakhir berdasarkan PJBG menjual gas (joint supply dengan terpenuhinya jumlah kontrak
Sumatera & Lematang tanggal 19 September 2017/ MEPI) dengan jumlah kontrak penyerahan gas, yang mana terjadi
March 21, 2007, last sebanyak 19.327,2 BBTU (Jumlah lebih dahulu/
amendment as per GSA kontrak joint supply sebesar 70.260 January 31, 2027 or until such
dated September 19, 2017 BBTU)/ quantity has been fully supplied,
Commitment to supply and sell gas whichever occurs first.
(joint supply with MEPI) with total
contract quantity of 19,327.2 BBTU
(Total joint supply contract quantity
70,260 BBTU).
PT Pupuk Sriwidjaja PJBG 20 September 2023/ Komitmen untuk memasok dan 5 April 2027 atau sampai
Palembang - Blok South GSA September 20, 2023 menjual gas (joint supply dengan terpenuhinya jumlah kontrak
Sumatera & Lematang MEPI) dengan jumlah kontrak penyerahan gas dari MEPI, yang
sebanyak 10.679 BBTU (Jumlah mana yang terjadi lebih dahulu/
kontrak joint supply sebesar 41.829 April 5, 2027 or until such quantity
BBTU)/ from MEPI has been fully supplied,
Commitment to supply and sell gas whichever occurs first.
(joint supply with MEPI) with total
contract quantity of 10,679 BBTU
(Total joint supply contract quantity
41,829 BBTU).
278
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 445
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco E & P Malaka ("MEPM")
PT Pertamina (Persero) - 27 Januari 2015, diubah Komitmen untuk memasok gas Sampai dengan terpenuhinya total
Telah dinovasikan kepada PT terakhir pada tanggal 2 dengan jumlah volume sebanyak jumlah kontrak, atau gas tidak lagi
Pertagas Niaga/ Oktober 2020/ 198 TBTU/ mempunyai nilai ekonomis, atau
PT Pertamina (Persero) - Has January 27, 2015, last Commitment to supply gas with a berakhirnya PSC Blok A, mana yang
been novated to PT Pertagas amendment dated October 2, total volume of 198 TBTU. lebih dahulu terjadi/
Niaga 2020 Up to when the total amount of the
contract has been fully supplied, or
gas no longer has an economic
value, or the expiration of Block A
PSC, whichever occurs first.
PT Medco E & P Tomori Sulawesi ("MEPTS")
PT Perusahaan Listrik Negara 6 Februari 2018/ Komitmen untuk memasok gas Pada saat total jumlah kontrak telah
(Persero) February 6, 2018 untuk memenuhi kebutuhan listrik di terpenuhi atau sampai dengan
Sulawesi Tengah dengan nilai tanggal berakhirnya hak pengelolaan
kontrak 15,63 TBTU/ wilayah kerja PSC Senoro-Toili, yang
Commitment to supply gas to fulfill mana lebih dahulu terjadi/
the electricity needs in Central When the total contract quantity has
Sulawesi with total contract been fully supplied or until the
commitment of 15.63 TBTU. expiration date of the right of
utilization of the contract area
Senoro-Toili PSC, whichever occurs
first.
PT Panca Amara Utama 13 Maret 2014; diubah Komitmen untuk memasok gas Pada saat total jumlah kontrak telah
terakhir tanggal 11 Januari sebanyak 248.200 MMSCF/ terpenuhi atau sampai dengan
2018/ Commitment to supply 248,200 tanggal berakhirnya hak pengelolaan
March 13, 2014; last MMSCF of gas. wilayah kerja PSC Senoro-Toili, yang
amendment dated mana lebih dahulu terjadi/
January 11, 2018 When the total contract quantity has
been fully supplied or until the
expiration date of the right of
utilization of the contract area
Senoro-Toili PSC, whichever occurs
first.
PT Donggi Senoro LNG 22 Januari 2009; diubah Komitmen untuk memasok gas 15 tahun setelah tanggal operasi
terakhir pada tanggal sebanyak 277,8 BBTU dengan total komersial dari LNG Plant, atau saat
19 Agustus 2021/ contract 1.417,775 TBTU jumlah kontrak terpenuhi atau pada
January 22, 2009; last Commitment to supply 277.8 BBTU saat berakhirnya PSC Senoro-Toili,
amendment on of gas with total contract Quantity of yang mana terjadi lebih dahulu/
August 19, 2021 1,417.775 TBTU. 15 years from the LNG Plant
commercial operation date, or when
such quantity in the agreement has
been fully supplied or until the
termination of the Senoro-Toili PSC,
whichever occurs first.
PT Perusahaan Gas Negara 22 September 2023/ Komitmen untuk memasok gas Sampai dengan tanggal berakhirnya
(Persero) Tbk September 22, 2023 untuk memenuhi kebutuhan Jargas hak pengelolaan wilayah kerja PSC
di Kab. Banggai, Sulawesi Tengah Senoro-Toili/
dengan nilai kontrak 581 MMSCF/ Until the expiration date of the right
Commitment to supply gas to fulfill of utilization of the contract area
City Gas network in Banggai, Central Senoro-Toili PSC.
Sulawesi with total contract
commitment of 581 MMSCF
279
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2025 Management Business Company Corporate
446 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco E & P Simenggaris ("MEPS")
PT Kayan LNG Nusantara 20 Mei 2020/ Komitmen untuk memasok gas Sampai dengan tanggal berakhirnya
May 20, 2020 Jumlah Total Kontrak (“JTK”) hak pengelolaan wilayah kerja yaitu
sebanyak 47.091 MMSCF/ 23 Februari 2028 atau sampai
Commitment to supply gas with Total terpenuhinya JTK/
Contract Quantity (“TCQ”) of 47,091 Until the end of PSC term which is
MMSCF. February 23, 2028 or until the TCQ
is fulfilled.
PT Perusahaan Listrik Negara 6 Februari 2018: terakhir Komitmen untuk memasok 8 BBTU Pada saat terpenuhinya total jumlah
(Persero) diubah melalui Kesepakatan gas dengan nilai kontrak 21,6 BCF/ kontrak atau sampai dengan
Pengakiran Lebih Awal atas Commitment to supply 8 BBTU of berakhirnya hak pengelolaan
PJBG pada tanggal 13 gas with total contract value of 21.6 wilayah kerja yaitu tanggal 23
September 2024 (efektif sejak BCF. Februari 2028, mana yang terjadi
4 Agustus 2023)/ terlebih dahulu. Efektif sejak tanggal
February 6, 2018: last 4 Agustus 2023 telah dilakukan
amended on September 13, pengakhiran lebih awal atas PBG/
2024 through Early At the time when total contract
Termination Agreement of quantity in the agreement has been
GSA (effective since August fully supplied or until the expiration
4, 2023) of the right of utilization of the
contract area, February 23, 2028,
whichever occurs first. Effective
since August 4, 2023, GSA has been
end through Early Termination
Agreement.
PT Perusahaan Listrik Negara 17 Oktober 2014; terakhir Komitmen untuk memasok gas 5 tahun sejak 30 November 2020
(Persero) diubah melalui amendemen dengan total nilai kontrak 805 (yang akan dituangkan dalam
pada tanggal 30 Juni 2022/ MMSCF/ Amendemen PJBG) atau sampai
October 17, 2014; last Commitment to supply gas with total dengan terpenuhinya jumlah
amended on June 30, 2022 contract value of 805 MMSCF. kontrak, mana yang lebih dahulu
terjadi/
5 years since November 30, 2020
(which will be made through GSA
Amendment) or until the fulfillment of
the total amount of the contract,
whichever occurs first.
280
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 447
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco Energi Sampang Pty. Ltd. ("MESP")
PT Indonesia Power (“IP”) 19 Juli 2003; diubah terakhir Komitmen untuk memasok seluruh Hingga 3 Desember 2027
melalui Addendum Keenam gas dari Wilayah Kerja Sampang berdasarkan surat Menteri ESDM
PJBG Sampang pada tanggal dengan indikasi Jumlah Total hal Penetapan Alokasi dan
19 Juni 2024 telah Kontrak (JTK) 30,6 TBTU Pemanfaatan serta Harga Gas Bumi
ditandatangani Medco dan PT (2022-2027)/ dari Wilayah Kerja Sampang kepada
PLN IP serta JVs partner/ The commitment to supply gas from PT PLN (Persero) dan atau Anak
July 19, 2003; last amended Sampang Working Area with an Perusahaan yang Berusaha di
through 6th Addendum of indication of Total Contract Quantity Bidang Penyediaan Energi Primer
Sampang GSA on June 19, (TCQ) of 30.6 TBTU (2022-2027). dan atau Pembangkitan tertanggal
2024 is signed within Medco, 26 Maret 2024/
PT PLN IP and JVs partner. Until 3 December 2027 based on
letter from the Minister of Energy
and Mineral Resources regarding
the Determination of Allocation and
Utilization as well as Natural Gas
prices from the Sampang Working
Area to PT PLN (Persero) and / or
subsidiaries engaged in the
provision of Primary Energy and / or
Power Generation dated March 26,
2024.
Pada tanggal 14 Juni 2024 SKK
Migas mengirimkan surat
Persetujuan Penandatanganan
Addendum Keenam PJBG Sampang
antara Medco dan PLN Indonesia
Power/
On June 14, 2024 SKK Migas sent
Approval letter to sign the 6th
Sampang GSA Addendum between
Medco and PLN Indonesia Power.
Pada tanggal 19 Juni 2024,
Addendum Keenam PJBG Sampang
telah ditandatangani oleh Medco dan
PLN Indonesia Power serta JVs
partner/
On June 19, 2024 the 6th Addendum
of Sampang GSA is signed by
Medco and PLN Indonesia Power,
as well as JVs partner.
281
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2025 Management Business Company Corporate
448 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco Energi Madura Offshore Pty. Ltd. ("MEMO")
PT Perusahaan Gas Negara 31 Mei 2005; diubah terakhir Komitmen untuk memasok seluruh Hingga 3 Desember 2027/
(Persero) Tbk (“PGN”) melalui Addendum Kelima gas dari Lapangan Maleo dan Until December 3, 2027.
PJBG Maleo tanggal 21 Juni Peluang dengan indikasi Jumlah
2024/ Total Kontrak (JTK) 8 TBTU/ Pada tanggal 20 Maret 2024 SKK
May 31, 2005; last The commitment to supply gas from Migas menyampaikan salinan surat
amendment through 5th the Maleo and Peluang Field with an Menteri ESDM hal Penetapan
Addendum of Maleo GSA indication of Total Contract Quantity Alokasi dan Pemanfaatan serta
dated June 21, 2024. (TCQ) of 8 TBTU. Harga Gas Bumi dari Wilayah Kerja
Madura Offshore kepada PT
Perusahaan Gas Negara (Persero)
(Tbk) tertanggal 8 Maret 2024/
On March 20, 2024, SKK Migas sent
a copy of the letter from the Minister
of Energy and Mineral Resources
regarding the Determination of
Allocation and Utilization as well as
Natural Gas prices from the Madura
Offshore Working Area to PT
Perusahaan Gas Negara (Persero)
(Tbk) dated March 8, 2024.
Pada tanggal 27 Maret 2024 SKK
Migas mengirimkan surat
Persetujuan Penandatanganan
Addendum Kelima PJBG Maleo
antara Medco dan PGN/
On March 27, 2024 SKK Migas sent
Approval letter to sign the 5th Maleo
GSA Addendum between Medco
and PGN.
Pada tanggal 21 Juni 2024,
Addendum Kelima PJBG Maleo
ditandatangani oleh Medco dan
PGN/
On June 21, 2024 the 5th Addendum
of Maleo GSA is signed by Medco
and PGN.
PT Perusahaan Gas Negara 19 Februari 2019; diubah Komitmen untuk memasok gas dari Hingga 3 Desember 2027/
(Persero) Tbk (“PGN”) terakhir melalui Amendemen Lapangan Meliwis dengan indikasi Until December 3, 2027.
Kedua PJBG Meliwis yang Jumlah Total Kontrak (JTK) 28,3
ditandatangani 26 Juli 2024 TBTU/ Pada tanggal 20 Maret 2024 SKK
dan berlaku efektif sejak 1 The commitment to supply gas from Migas menyampaikan salinan surat
September 2023/ the Meliwis Field with an indication Menteri ESDM hal Penetapan
February 19, 2019; last of Total Contract Quantity (TCQ) of Alokasi dan Pemanfaatan serta
amendment through The 2nd 28.3 TBTU. Harga Gas Bumi dari Wilayah Kerja
Amendment of Meliwis GSA Madura Offshore kepada PT
which is signed on July 26, Perusahaan Gas Negara (Tbk)
2024 and effective since tertanggal 8 Maret 2024/
September 1, 2023 On March 20, 2024, SKK Migas sent
a copy of the letter from the Minister
of Energy and Mineral Resources
regarding the Determination of
Allocation and Utilization as well as
Natural Gas prices from the Madura
Offshore Working Area to PT
Perusahaan Gas Negara (Tbk)
dated March 8, 2024.
Pada tanggal 26 Juli 2024,
Amendemen Kedua PJBG Meliwis
ditandatangani Medco dan PGN/
On July 26, 2024 the 2nd
Amendment of Meliwis GSA is
signed by Medco and PGN.
282
Page 451
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 449
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco Energi Madura Offshore Pty. Ltd. ("MEMO") (lanjutan/continued)
PT Sarana Cepu Energi 1 Januari 2024/ Komitmen untuk memasok gas dari Hingga 31 Desember 2025/
("SCE") January 1, 2024 Wilayah Kerja Madura Offshore Until December 31, 2025
dengan indikasi maksimum kontrak
keseluruhan 3,62 TBTU/ Perpanjangan PJBG setelah 31
The commitment to supply gas from Desember 2024, dituangkan dalam
Madura Offshore Contract Area with Kesepakatan Bersama Jual Beli Gas
an indication of total contract dari Lapangan Meliwis WK Madura
maximum of 3.62 TBTU. Offshore yang ditandatangani antara
Medco Energi Madura Offshore Pty.
Sebagaimana diubah terakhir Ltd. dan PT Sarana Cepu Energi
melalui permohonan persetujuan ("SCE") tanggal 6 Januari 2025
alokasi ke MESDM dengan indikasi untuk jangka waktu 1 Januari 2025 -
kontrak keseluruhan 0,37 TBTU/ 31 Desember 2025 ("KB SCE
As last amended through gas 2025"), tunduk pada persetujuan
allocation request approval to MEMR alokasi dan harga gas dari Menteri
with an indication of total contract ESDM. Telah didapat Ijin prinsip
maximum of 0.37 TBTU. pengaliran gas dari SKK Migas. Gas
akan dialirkan apabila sudah didapat
persetujuan alokasi gas dan
perpanjangan ijin niaga SCE dari
Pemerintah/
Signed Mutual Agreement of gas
sales from Meliwis Field Madura
Offshore Block between Medco
Energi Madura Offshore Pty. Ltd and
PT Sarana Cepu Energi ("SCE")
dated January 6, 2025 for SCE GSA
extension period contract of January
1, 2025 until December 31, 2025
("SCE KB 2025"), subject to gas
allocation approval and price
determination from Minister EMR.
Obtained Principal Delivery Permit
from SKK Migas. The gas will be
delivered if the gas allocation
approval and SCE gas trading permit
approval are obtained from
Government.
PJBG berakhir pada 31 Desember
2025 dan tidak diperpanjang/
GSA is expired on December 31,
2025 and not extended.
Medco Energi Bangkanai Limited ("MEBL")
PT Perusahaan Listrik Negara 28 Juni 2011; diubah terakhir Komitmen untuk memasok gas dari Hingga kontrak PSC berakhir, 29
(Persero) (“PLN”) melalui Kesepakatan Lapangan Kerendan sampai Desember 2033 atau sampai
Bersama tanggal 20 perkiraan Jumlah Total Kontrak perkiraan JMKK 130 TBTU, mana
Desember 2019/ ("JTK") 130 TBTU/ yang lebih dahulu terjadi/
June 28, 2011; last The commitment to supply gas from Until end of PSC contract, December
amendment through Mutual the Kerendan Field until Total 29, 2033 or MTCQ of 130 TBTU is
Agreement dated Contract Quantity (“TCQ”) of 130 achieved, whichever occurs first.
December 20, 2019 TBTU.
Medco E&P Grissik Ltd (“MEPG”)
Gas Supply Pte. Ltd. 21 November 2022/ Dengan PJBG ini, pengaliran Periode pasokan adalah sampai
(“GSPL”) November 21, 2022 pasokan gas dari WK Corridor telah dengan 31 Desember 2028 atau
dimulai pada tanggal 12 Agustus pada saat terpenuhinya jumlah
2023 dan jumlah kontrak bagian kontrak, yang mana yang terjadi
Corridor adalah sebesar 241,46 lebih dulu/
TBTU/ Supply period is until December 31,
With this GSA the delivery of gas 2028 or upon fulfillment of the
supply from WK Corridor has started contract quantity, whichever occurs
on August 12, 2023 and the contract first.
volume for Corridor is 241.46 TBTU.
283
Page 452
2025 Management Business Company Corporate
450 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco E&P Grissik Ltd (“MEPG”) (lanjutan/continued)
Gas Supply Pte. Ltd. Surat Perjanjian atas PJBG Untuk mendukung permintaan SKK Selama Periode Swap, yaitu sampai
(“GSPL”) GSPL - Penyaluran Gas Migas, berdasarkan DSA, MEPG dengan 31 Desember 2025 kecuali
berdasarkan Domestic Swap dan Petrochina International Jabung diakhiri lebih awal/
Agreement tanggal 21 Mei Ltd ("PCJL") sebagai Penjual During Swap Period up to December
2025 ("DSA") tanggal 17 Juli bersama GSPL sebagai Pembeli 31, 2025 unless terminated earlier.
2025 ("Surat Perjanjian") / dari PJBG GSPL, menandatangani
Letter of Agreement to the Surat Perjanjian atas PJBG GSPL
GSPL GSA - Delivery of Gas untuk menyepakati penyerahan
Pursuant to the Domestic sebagian gas dalam PJBG GSPL
Swap Agreement dated May selama periode DSA dilakukan
21, 2025 ("the DSA") dated berdasarkan ketentuan DSA/
July 17, 2025 ("LOA") To support SKK Migas request,
based on the DSA, MEPG and
Petrochina International Jabung Ltd
("PCJL") as Sellers together with
GSPL as Buyer under the GSPL
GSA, have signed Letter of
Agreement to GSPL GSA, to agree
that a portion of the delivery of Gas
based on the GSPL GSA during the
swap period is performed based on
the terms of the DSA.
Mekanisme DSA adalah pengaliran
gas swap ke pihak domestik (PGN)
dilakukan oleh MEPG dan PCJL
atas nama WNG SG, berdasarkan
pengaliran gas swap yang dilakukan
WNG SG ke GSPL atas nama
MEPG dan PCJL, dalam volume
yang sama, max 27 BBTUD/
The DSA mechanism is that the
swap gas delivery to the domestic
buyer (PGN) is performed by MEPG
and PCJL on behalf of WNG SG,
based on the swap gas delivery
performed by WNG SG to GSPL on
behalf of MEPG and PCJL, in the
same volume equivalent, max at 27
BBTUD.
PT Perusahaan Gas Negara Perjanjian Jual Beli Gas Komitmen untuk memasok Sampai dengan 31 Desember 2028
Tbk – (“PGN”) BBG Jargas tanggal 14 Oktober 2021 dan kebutuhan gas untuk penyediaan atau sampai dengan terpenuhinya
terakhir diubah melalui Bahan Bakar Gas untuk Transportasi total jumlah kontrak, yang mana
Amendemen Ketiga tanggal Jalan dan untuk kebutuhan Jaringan terjadi lebih dahulu/
19 Desember 2023/ Gas Rumah Tangga dan Pelanggan Until December 31, 2028 or until the
Gas Sales and Purchase Kecil di wilayah Kab. Musi total contract quantity has been fully
Agreement dated October Banyuasin, Kab. Banyuasin, Kota supplied, whichever occurs first.
14, 2021 and lastly amended Lampung, Kab. Siak, Kab. OKU
through the Third Timur dan Kab. Serang dengan
Amendment dated December jumlah kontrak sebesar 14 TBTU/
19, 2023. Commitment to supply Gas Fuel for
Road Transportation and for
Household Gas Networks and Small
Customers for Musi Banyuasin
Regency, Banyuasin Regency,
Lampung City, Siak Regency, OKU
Timur Regency and Serang
Regency with the contract quantity of
14 TBTU.
284
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 451
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco E&P Grissik Ltd (“MEPG”) (lanjutan/continued)
PT Perusahaan Gas Negara Perjanjian Jual Beli Gas Komitmen untuk memasok sektor Sampai dengan 31 Desember 2028
Tbk tanggal 19 Desember 2023 industri dan kelistrikan di Sumatera atau sampai dengan terpenuhinya
("PJBG"), kemudian diubah Bagian Tengah, Kepulauan Riau, total jumlah kontrak, yang mana
melalui Surat Perjanjian Sumatera Selatan dan Jawa Barat terjadi lebih dahulu/
tanggal 28 Februari 2025 dan dengan jumlah kontrak sebesar Until December 31, 2028 or until the
terakhir diubah melalui 482,3 TBTU/ total contract quantity has been fully
Amendemen Surat Perjanjian Commitment to supply gas for supplied, whichever occurs first.
tanggal 22 September 2025/ industrial and electricity sectors in
Gas Sale and Purchase Central Sumatera, Riau Islands,
Agreement date December South Sumatera and West Java with
19, 2023 ("GSA"), then the contract quantity of 482.3 TBTU.
amended through Letter of
Agreement ("LOA") dated Surat Perjanjian dan
February 28, 2025 and lastly Amandemennya merupakan
amended through an dokumen yang mendasari
Amendment to the LOA dated implementasi atas Penyesuaian
September 22, 2025. Harga Gas Bumi atas Keputusan
Menteri Energi dan Sumber Daya
Mineral terkait ("Kepmen ESDM").
Perbedaan harga antara PJBG
dengan Kepmen ESDM tidak
mempengaruhi pendapatan MEPG/
The LOA and its Amendment are the
underlying documents for the
implementation of the Natural Gas
Price Adjustment based on the
related Minister of Energy and
Mineral Resources Decrees
("Minister Decree"). The price
difference between the GSA and
Minister Decree does not affect
MEPG's revenue.
PT Perusahaan Gas Negara Surat Perjanjian atas PJBG Penyesuaian Harga Gas Bumi Sesuai periode PJBG/
Tbk (PGN) PGN tanggal 22 September sebagai implementasi Keputusan as per GSPA period
2025/ Menteri Energi dan Sumber Daya
Letter of Agreement to PGN Mineral nomor 76.K/MG.01/
GSPA, dated September 22, MEM.M/2025 dan nomor 77.K/
2025 MG.01/MEM.M/2025 ("Kepmen
MESDM"). Perbedaan harga antara
PJBG dengan Kepmen MESDM
tidak mempengaruhi pendapatan
MEPG /
Implementation of Natural Gas Price
Adjustments to implement of the
Minister of Energy and Mineral
Resources Decree number 76.K/
MG.01/MEM.M/2025 and number
77.K/MG.01/MEM.M/2025 ("MEMR
Decree"). The price difference
between the GSA and the MEMR
Decree does not affect MEPG's
revenue.
285
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2025 Management Business Company Corporate
452 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco E&P Grissik Ltd (“MEPG”) (lanjutan/continued)
Pertamina Hulu Rokan Perjanjian Jual Beli Gas Komitmen untuk memasok gas Diperpanjang sampai dengan 31
tanggal 6 Agustus 2021 untuk memenuhi kebutuhan gas Desember 2028 (sebelumnya
("PJBG") dan terakhir diubah Wilayah Kerja Rokan dengan jumlah sampai dengan 31 Desember 2026)
melalui Amendemen tanggal kontrak sebanyak total 203,8 TBTU atau sampai dengan jumlah agregat
7 November 2025/ (PJBG awal 133.1 TBTU)/ gas yang dikirimkan setara dengan
Gas Sale and Purchase Commitment to supply gas to Rokan jumlah kontrak, yang mana terjadi
Agreement dated August 6, Block with total contract quantity of lebih dahulu/
2021 ("GSA") and lastly 203.8 TBTU (original GSA at 133.1 Extended until December 31, 2028
amended through amendment TBTU). (previously until December 31, 2026)
dated November 7, 2025 or until the aggregate quantity of gas
delivered equals the contract
quantity, whichever occurs first.
Energasindo Heksa Karya Berdasarkan Perjanjian Jual Komitmen untuk memasok gas Sampai dengan 31 December 2033
("EHK") Beli Gas tanggal 30 Oktober untuk memenuhi kebutuhan gas di atau sampai dengan jumlah agregat
2007; terakhir diubah melalui wilayah Sumatera dengan jumlah gas yang dikirimkan setara dengan
Amendemen Ke Delapan kontrak sebanyak 215,5 TBTU/ jumlah kontrak, yang mana terjadi
Perjanjian Jual Beli Gas Commitment to supply gas in lebih dahulu/
tanggal 28 November 2024/ Sumatera area with total contract Until December 31, 2033 or until the
Based on Gas Sales and quantity of 215.5 TBTU. aggregate quantity of gas delivered
Purchase Agreement dated equals the contract quantity,
October 30, 2007; last whichever occurs first.
amended through Eight
Amendment of Gas Sales and
Purchase Agreement dated
November 28, 2024
PT Perusahaan Listrik Negara Berdasarkan Perjanjian Jual Komitmen untuk memasok gas Sampai dengan 31 Desember 2028
(Persero) (“PLN”), dimana Beli Gas tanggal 4 Mei 2015; untuk memenuhi kebutuhan gas atau sampai dengan jumlah agregat
telah dinovasikan ke PT PLN terakhir diubah melalui sektor kelistrikan dengan jumlah gas yang dikirimkan setara dengan
Energi Primer Indonesia/ Amendemen Keempat kontrak sebanyak 79 TBTU/ jumlah kontrak, yang mana terjadi
PT Perusahaan Listrik Negara Perjanjian Jual Beli Gas Commitment to supply gas for lebih dahulu/
(Persero) ("PLN"), where has tanggal 19 Desember 2023/ electricity sector with total contract Until December 31, 2028 or until the
been novated to PT PLN Based on Gas Sales and quantity of 79 TBTU. aggregate quantity of gas delivered
Energi Primer Indonesia Purchase Agreement dated equals the contract Quantity,
May 4, 2015; last amended whichever occurs first.
through Fourth Amendment of
Gas Sales and Purchase
Agreement dated December
19, 2023
PT Pupuk Sriwidjaja Berdasarkan Perjanjian Jual Komitmen untuk memasok gas Sampai dengan 31 Desember 2028
Beli Gas tanggal 25 Mei 2016; untuk memenuhi kebutuhan gas atau sampai dengan jumlah agregat
terakhir diubah melalui pabrik pupuk di wilayah Sumatera gas yang dikirimkan setara dengan
Amendemen Ketiga Selatan dengan jumlah kontrak jumlah kontrak, yang mana terjadi
Perjanjian Jual Beli Gas sebanyak 251,4 TBTU/ lebih dahulu/
tanggal 20 Desember 2023/ Commitment to supply gas for Until December 31, 2028 or until the
Based on Gas Sales and fertilizer plant in South Sumatera aggregate quantity of gas delivered
Purchase Agreement dated area with total contract quantity of equals the Contract Quantity,
May 25, 2016; last amended 251.4 TBTU. whichever occurs first.
through Third Amendment of
Gas Sales and Purchase
Agreement dated December
20, 2023
286
Page 455
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 453
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco E&P Natuna Ltd. ("MEPN")
PT Pertamina (Persero) 15 Januari 1999/ Bersama dalam Kelompok Pemasok 27 tahun sejak tanggal dimulai atau
January 15, 1999 WNG berkomitmen untuk memasok sampai terpenuhinya jumlah kontrak,
gas kepada PT Pertamina (Persero) yang mana lebih dahulu terjadi/
untuk SembCorp Gas Pte. Ltd. 27 years from the start date or until
dengan total kontrak sebanyak 2.888 the fulfillment of the total amount of
TBTU (termasuk Tail Gas 262,5 the contract has been fully supplied,
TBTU)/ whichever occurs first.
Together as WNG Supply Group
commits to supply gas to PT
Pertamina (Persero) to SembCorp
Gas Pte. Ltd. with total contract
quantity of 2,888 TBTU (including
Tail Gas 262.5 TBTU).
SembCorp Gas Pte. Ltd. 5 Juni 2023/ Komitmen untuk memasok gas dari Hingga 15 Oktober 2028/
June 5, 2023 Wilayah Kerja South Natuna Sea Until October 15, 2028.
Blok B dengan Total Jumlah Kontrak
sebesar 105 TBTU/
The commitment to supply gas from
South Natuna Sea Block B Working
Area with Total Contract Quantity of
105 TBTU.
287
Page 456
2025 Management Business Company Corporate
454 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
a. Perjanjian Pasokan Gas ("GSA") (lanjutan) a. Gas Supply Agreement ("GSA") (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
Medco E&P Natuna Ltd. ("MEPN") (lanjutan/continued)
PT Pertamina Persero, 21 Mei 2025/ Komitmen untuk mengalirkan gas ke 31 Agustus 2025 - 31 Desember
Medco E&P Natuna Ltd., May 21, 2025 pihak domestik (PGN), dengan 2025/
Premier Oil Natuna Sea B.V, menggunakan mekanisme SWAP August 31, 2025 - December 31,
Star Energy (KAKAP) LTD, (pertukaran gas) dengan pembeli 2025
SembCorp Gas Pte Ltd gas di Singapura yaitu SembGas
("SembGas"), Gas Supply Pte dan GSPL, dengan volume 27
Ltd ("GSPL"), PetroChina BBTUD dimana pembeli gas yang
International Jabung Ltd, PT sama dari pihak SembGas dan
Perusahaan Gas Negara TBK GSPL yaitu YTL POWERSERAYA,
("PGN"), Medco E&P Grissik dimana SembGas akan
Ltd. mengirimkan pasokan gas tambahan
dari WNG SG ke YTL
POWERSERAYA sebesar 27
BBTUD dan MEPG dan PetroChina
International Jabung Ltd. akan
mengurangi pasokan gas ke GSPL
sebanyak 27 BBTUD ("Gas Swap"),
dan Gas Swap akan dialirkan oleh
MEPG dan PetroChina International
Jabung Ltd. ke PGN sebesar 27
BBTUD/
Commitment to distribute gas to
domestic parties (PGN), using a
SWAP (gas exchange) mechanism
with gas buyers in Singapore,
namely SembGas and GSPL, with a
volume of 27 BBTUD where the
same gas buyers from SembGas
and GSPL are YTL
POWERSERAYA, where SembGas
will send additional gas supplies
from WNG SG to YTL POWER
SERAYA amounting to 27 BBTUD
and MEPG and PetroChina
International Jabung Ltd. will reduce
gas supplies to GSPL by 27 BBTUD
("Gas Swap"), and Gas Swap will be
distributed by MEPG and PetroChina
International Jabung Ltd. to PGN
amounting to 27 BBTUD.
Medco E&P Natuna Ltd. 21 Mei 2025/ PJBG Domestik antara WNG SG 31 Agustus 2025 - 31 Desember
Premier Oil Natuna Sea B.V, May 21, 2025 dengan PGN yang merupakan 2025/
Star Energy (Kakap) Ltd., PT bagian dari implementasi Domestic August 31, 2025 - December 31,
Perusahaan Gas Negara Tbk Swap Agreement ("DSA")/ 2025
Domestic GSA between WNG SG
and PGN which is part of the
implementation of the Domestic
Swap Agreement ("DSA")
288
Page 457
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 455
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik b. Power Business Activities Agreements
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Bio Jatropha Indonesia ("BJI")
PT PLN (Persero) Unit 1 Februari 2012; terakhir BJI mengoperasikan pembangkit listrik 15 tahun setelah Tanggal Operasi
Induk Distribusi Jawa diubah pada tanggal tenaga mini-hidro 3x3 MW pada aliran Komersial ("COD") (sampai
Barat ("PT PLN UIDJB") 28 Agustus 2017/ Sungai Cibalapulang, yang berlokasi di dengan September 2032)/
February 1, 2012; last Cianjur, Jawa Barat. PT PLN UIDJB 15 years after Commercial
amendment dated setuju untuk membayar listrik kepada Operating Date ("COD") (until
August 28, 2017 Perusahaan sesuai harga yang September 2032).
disepakati para pihak/
BJI operates a 3x3 MW mini-hydro
power plant on the flow of Cibalapulang
River, located in Cianjur, West Java. PT
PLN UIDJB agreed to pay the electricity
to the Company at the agreed price by
the parties.
PT Energi Listrik Batam ("ELB")
PT PLN Batam 15 Oktober 2012; terakhir ELB mengoperasikan pembangkit listrik 20 tahun setelah Tanggal Operasi
diubah pada tanggal 21 Juli 2x35 MW. PT PLN Batam setuju untuk Komersial ("COD") Unit CCPP
2023/ membayar listrik kepada Perusahaan yang dijadwalkan pada kuartal
October 15, 2012; effective as sesuai harga yang disepakati Para terakhir tahun 2025./
of July 21, 2023 Pihak. PT PLN Batam memiliki opsi 20 years after Commercial
untuk membeli kepemilikan dan Operation Date ("COD") of CCPP
kepentingan ELB dalam proyek Unit which is scheduled at the last
tersebut selama masa Perjanjian quarter of 2025.
Pembelian Tenaga Listrik.
Pada tanggal 21 Juli 2023, Para Pihak
menandatangani amendemen IV
mengenai perubahan skema
pembangkit dari Simple Cycle Power
Plant (“SCPP”) menjadi Combined
Cycle Gas Power Plant (“CCPP”)
dengan menambah unit baru
berkapasitas 39 MW, sehingga total
kapasitas menjadi 109 MW. Perjanjian
tersebut berlaku efektif pada Agustus
2023/
ELB operates 2x35 MW power plant.
PT PLN Batam agreed to pay the
electricity to the Company at the agreed
price by the Parties. PT PLN Batam has
the option to purchase ELB’s ownership
and interest in the project anytime
during the term of the Power Purchase
Agreement.
On July 21 2023, the Parties signed
Amendment IV regarding the changes
of electricity generation scheme from
Simple Cycle Power Plant (“SCPP”) to
Combined Cycle Gas Power Plant
(“CCPP”) by adding a new unit with a
capacity of 39 MW, bringing the total
capacity to 109 MW. The agreement is
effective in August 2023.
289
Page 458
2025 Management Business Company Corporate
456 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco Cahaya Geothermal ("MCG")
PT PLN (Persero) 27 Februari 2013; terakhir MCG membangun, memiliki dan 30 tahun sejak setelah Tanggal
diubah pada tanggal mengoperasikan pembangkit listrik Operasi Komersial ("COD")/
9 Desember 2022/ tenaga panas bumi 2x55 MW dengan 30 years after Commercial
February 27, 2013; last kapasitas minimal 30 MW. PT PLN Operation Date ("COD").
amendment dated December (Persero) setuju untuk membayar listrik
9, 2022 kepada Perusahaan sesuai harga yang
disepakati Para Pihak/
MCG constructs, owns and operates a
2x55 MW geothermal power plant with
minimum capacity of 30 MW. PT PLN
(Persero) agreed to pay the electricity
to the Company at the agreed price by
the Parties.
PT Pembangkitan Pusaka Parahiangan (“PPP”)
PT PLN (Persero) Unit 12 September 2013; terakhir PPP mengoperasikan pembangkit listrik 15 tahun setelah Tanggal Operasi
Induk Distribusi Jawa diubah pada tanggal tenaga mini-hydro 2x4,4 MW pada Komersial ("COD") (sampai
Barat ("PT PLN UIDJB") 29 Januari 2019/ aliran Sungai Cibuni, yang berlokasi di dengan Mei 2033)/
September 12, 2013; last Cianjur, Jawa Barat. PT PLN UIDJB 15 years after Commercial
amendment dated setuju untuk membayar listrik kepada Operating Date ("COD") (until May
January 29, 2019 Perusahaan sesuai harga yang 2033).
disepakati Para Pihak/
PPP operates a 2x4.4 MW mini-hydro
power plant on the flow of Cibuni River,
located in Cianjur, West Java. PT PLN
UIDJB agreed to pay the electricity to
the Company at the agreed price by the
Parties.
PT Nawakara Energi Sumpur ("NES")
PT PLN (Persero) Unit 11 September 2013; terakhir NES memiliki kontrak untuk 15 tahun setelah Tanggal Operasi
Induk Wilayah Sumatera diubah pada tanggal pembangunan dan pengoperasian Komersial ("COD")/
Barat (“PLNWSB”) 14 Oktober 2022/ pembangkit listrik tenaga mini-hidro 15 years after Commercial
September 11, 2013; last 2x3,8 MW pada aliran Sungai Batang Operating Date ("COD").
amendment dated October 14, Sumpur, yang berlokasi di Pasaman
2022 Barat, Sumatera Barat/
NES had contracts for constructing and
operating of 2x3.8 MW mini-hydro
power plant on the flow of Batang
Sumpur River which is located in West
Pasaman, West Sumatera.
PT Medco Ratch Power Riau (“MRPR”)
PT PLN (Persero) 7 April 2017; terakhir diubah MRPR mengoperasikan pembangkit 20 tahun setelah Tanggal Operasi
pada tanggal 27 Februari listrik tenaga gas berkapasitas 275 MW. Komersial ("COD") pada 10
2025/ PT PLN (Persero) setuju untuk Februari 2042/
April 7, 2017; last amendment membayar listrik kepada Perusahaan 20 years after Commercial
dated February 27, 2025 sesuai harga yang disepakati Para Operating Date ("COD") on
Pihak/ February 10, 2042.
MRPR operates 275 MW gas fired
power plant. PT PLN (Persero) agreed
to pay the electricity to the Company at
the agreed price by the Parties.
290
Page 459
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 457
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Dalle Energy Batam (“DEB”)
PT PLN Batam 20 Mei 2005; terakhir diubah DEB diharuskan untuk mendanai, 15 tahun dari 25 Maret 2010
pada tanggal 27 Juli 2018/ membangun dan mengoperasikan 2 (sampai dengan 24 Maret 2025)/
May 20, 2005; last amendment unit Gas Turbin Generator dengan 15 years from March 25, 2010
dated July 27, 2018 chiller ("SCPP") serta Steam Turbine (until March 24, 2025).
Generator ("CCPP"). PT PLN Batam
setuju untuk membayar listrik kepada
Perusahaan sesuai harga yang
disepakati Para Pihak/
DEB is required to fund, operate and
maintain 2 units of Gas Turbine
Generator with chiller ("SCPP") and
Steam Turbine Generator ("CCPP"). PT
PLN Batam agreed to pay the electricity
to the Company at the agreed price by
the Parties.
PT PLN Batam 20 Mei 2005; terakhir diubah DEB diharuskan untuk mendanai, Amendemen ini mengatur
pada tanggal 25 Maret 2025/ membangun dan mengoperasikan 2 mengenai perpanjangan perjanjian
May 20, 2005; last amendment unit Gas Turbin Generator dengan jual beli tenaga listrik yang akan
dated March 25, 2025 chiller ("SCPP") serta Steam Turbine diperpanjang sampai dengan 31
Generator ("CCPP"). PT PLN Batam Maret 2030/
setuju untuk membayar listrik kepada This amendement regulates on the
Perusahaan sesuai harga yang extension of power purchase
disepakati Para Pihak/ agreement which period will be
DEB is required to fund, operate and extended up to March 31, 2030.
maintain 2 units of Gas Turbine
Generator with chiller ("SCPP") and
Steam Turbine Generator ("CCPP"). PT
PLN Batam agreed to pay the electricity
to the Company at the agreed price by
the Parties.
PT Mitra Energi Batam (“MEB”)
PT PLN Batam 29 April 2004; terakhir diubah MEB diharuskan untuk mendanai, 20 tahun dari 8 September 2014
pada tanggal 27 Juli 2018/ mengoperasikan dan memelihara (sampai dengan 7 September
April 29, 2004; last amendment proyek 2 unit Gas Turbin Generator 2034)/
dated July 27, 2018 dengan chiller ("SCPP") serta Steam 20 years from September 8, 2014
Turbine Generator ("CCPP"). PT PLN (until September 7, 2034).
Batam setuju untuk membayar listrik
kepada Perusahaan sesuai harga yang
disepakati Para Pihak/
MEB is required to fund, operate and
maintain 2 units of Gas Turbine
Generator with chiller ("SCPP") and
Steam Turbine Generator ("CCPP"). PT
PLN Batam agreed to pay the electricity
to the Company at the agreed price by
the Parties.
291
Page 460
2025 Management Business Company Corporate
458 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Energi Prima Elektrika (“EPE”)
PT Prima Layanan 10 November 2004; terakhir Semua hak dan kewajiban PT PLN-E 20 tahun dengan perpanjangan
Nasional Enjiniring ("PT diubah pada tanggal 3 berdasarkan Perjanjian Pembelian tahunan atas persetujuan kedua
PLN-E") dan PT PLN September 2024/ Tenaga Listrik yang ditandatangani belah pihak (sampai dengan Juni
(Persero) Unit Induk November 10, 2004; last antara PT PLN-E dan PT PLN 2026)/
Wilayah Sumatera amendment dated September UIWS2JB dialihkan ke EPE. EPE 20 years subject to annual
Selatan, Jambi dan 3, 2024 diharuskan mendanai, membangun dan extension upon approval by both
Bengkulu (“PT PLN mengoperasikan proyek Generator parties (until June 2026)
UIWS2JB”) Mesin Gas (“GMG”). PT PLN UIWS2JB
setuju untuk membayar listrik kepada
Perusahaan sesuai harga yang
disepakati Para Pihak/
All rights and obligations of PT PLN-E
under the Power Purchase Agreement
entered into between PT PLN-E and PT
PLN UIWS2JB were transferred to
EPE. EPE is required to fund, establish
and operate the Gas Engine Generator
(“GEG”). PT PLN UIWS2JB agreed to
pay the electricity to the Company at
the agreed price by the Parties.
PT Multidaya Prima Elektrindo (“MPE”)
PT Prima Layanan 1 Juni 2004; terakhir diubah Semua hak dan kewajiban PT PLN-E 20 tahun dengan perpanjangan
Nasional Enjiniring ("PT tanggal 3 September 2024/ berdasarkan Perjanjian Pembelian tahunan atas persetujuan kedua
PLN-E") dan PT PLN June 1, 2004; last amendment Tenaga Listrik yang ditandatangani belah pihak (sampai dengan Mei
(Persero) Unit Induk dated September 3, 2024 antara PT PLN-E dan PT PLN 2028)/
Wilayah Sumatera UIWS2JB dialihkan ke MPE. MPE 20 years subject to annual
Selatan, Jambi dan diminta untuk mendanai, membangun extension upon approval by both
Bengkulu (“PT PLN dan mengoperasikan proyek Generator parties (until May 2028)
UIWS2JB”) Mesin Gas (“GMG”) dengan kapasitas
12 MW. PT PLN UIWS2JB setuju untuk
membayar listrik kepada Perusahaan
sesuai harga yang disepakati Para
Pihak/
All rights and obligations of PT PLN-E
under the Power Purchase Agreement
entered into between PT PLN-E and PT
PLN UIWS2JB were transferred to
MPE. MPE is required to fund, establish
and operate the Gas Engine Generator
(“GEG”) with capacity of 12 MW. PT
PLN UIWS2JB agreed to pay the
electricity to the Company at the agreed
price by the Parties.
292
Page 461
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 459
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medcosolar Bali Timur (“MSBT”)
PT PLN (Persero) 24 Maret 2022; terakhir diubah MSBT telah menandatangani Perjanjian 20 tahun setelah Tanggal Operasi
tanggal 17 Desember 2024/ Jual Beli Tenaga Listrik ("PJBTL") Komersial ("COD")/
March 24, 2022; last dengan PT PLN (Persero) untuk 20 years after Commercial
amendment dated December pengoperasian Pembangkit Listrik Operating Date ("COD").
17, 2024 Tenaga Surya Fotovoltaik berkapasitas
25 MWp yang berlokasi di provinsi Bali
bagian Timur. PT PLN (Persero) setuju
untuk membayar listrik kepada
Perusahaan sesuai harga yang
disepakati Para Pihak/
MSBT has entered into a Power
Purchase Agreement ("PPA") with PT
PLN (Persero) for the operation of Solar
Photovoltaic Power Plant facility with an
installed capacity 25 MWp located at
Eastern Bali. PT PLN (Persero) agreed
to pay the electricity to the Company at
the agreed price by the Parties.
PT Medco Solar Bali Barat (“MSBB”)
PT PLN (Persero) 24 Maret 2022; terakhir diubah MSBB telah menandatangani 20 tahun setelah Tanggal Operasi
tanggal 17 Desember 2024/ Perjanjian Jual Beli Tenaga Listrik Komersial ("COD")/
March 24, 2022; last ("PJBTL") dengan PT PLN (Persero) 20 years after Commercial
amendment dated December untuk pengoperasian Pembangkit Operating Date ("COD").
17, 2024 Listrik Tenaga Surya Fotovoltaik
berkapasitas 25 MWp yang berlokasi di
Bali bagian Barat. PT PLN (Persero)
setuju untuk membayar listrik kepada
Perusahaan sesuai harga yang
disepakati Para Pihak/
MSBB has entered into a Power
Purchase Agreement ("PPA") with PT
PLN (Persero) for the operation of Solar
Photovoltaic Power Plant facility with an
installed capacity 25 MWp located at
Western Bali. PT PLN (Persero) agreed
to pay the electricity to the Company at
the agreed price by the Parties.
293
Page 462
2025 Management Business Company Corporate
460 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT TJB Power Services ("TJBPS")
PT PLN (Persero) 9 Juni 2005; terakhir diubah Konsorsium dari PT Medco Energi 24 tahun/
pada tanggal 28 Maret 2018/ Internasional Tbk-Fortum Service Oy 24 years.
June 9, 2005; last amendment (Medco Fortum) menandatangani
dated March 28, 2018 Operation & Maintenance Agreement
(O&M Agreement) dengan PLN. Medco
Fortum ditunjuk sebagai operator
pembangkit listrik tenaga batu bara
berkapasitas 2x660 MW. Pada tanggal
27 September 2005, Medco Fortum,
MPI dan PLN menandatangani
amendemen Perjanjian No. 1 untuk
O&M Agreement dimana para pihak
sepakat untuk memasukkan MPI
sebagai salah satu pihak dalam O&M
Agreement dan sebagai operator awal
proyek sampai perusahaan yang
bertujuan khusus (“SPC”) untuk
mengoperasikan pembangkit listrik
tenaga tersebut didirikan. Pada tahun
2006, TJBPS didirikan sebagai SPC/
The Consortium of PT Medco Energi
Internasional Tbk-Fortum Service Oy
(Medco Fortum) signed an Operation &
Maintenance Agreement (O&M
Agreement) with PLN. Medco Fortum is
appointed as the operator of the 2x660
MW coal fired power station. On
September 27, 2005, Medco Fortum,
MPI and PLN entered into an
Agreement Amendment No. 1 for O&M
Agreement where the parties agreed to
include MPI as one of the parties to the
O&M Agreement and the initial operator
of the project until the special purpose
company (“SPC”) to operate the coal
fired power station is established. In
2006, TJBPS was established as the
SPC.
PT Medco Geothermal Sarulla ("MGS")
Sarulla Operation Ltd Kontrak pertama 29 Perjanjian operasi dan pemeliharaan Perpanjangan 6 tahun sejak 4 Juli
("SOL") September 2016; terakhir dengan SOL untuk Pembangkit Listrik 2024/
diubah tanggal 3 November Tenaga Panas Bumi Sarulla/ 6 years extensions from July 4,
2024/ Operation and Maintenance agreement 2024
First contract on September with SOL for Sarulla Geothermal Power
29, 2016; last amendment Facilities.
dated November 3, 2024
PT Medco Power Indonesia ("MPI")
PT PLN (Persero) dan 9 September 2019; terakhir Konsorsium 5oC yang terdiri dari MPI 5 tahun sejak tanggal operasi
Konsorsium 5oC ("IKPT- diubah pada tanggal 2 dan lainnya telah menandatangani komersial (COD) (Maret 2025)/
PP"-Sumitomo-Itochu- Desember 2024/ kontrak EPC dan O&M dengan PT PLN 5 years from Commercial
MPI) September 9, 2019; last (Persero) untuk PLTU Sulut-1./ Operating Date (COD) (March
amended dated December 2, The 5oC Consortium consist of MPI 2025)
2024 and others has signed an EPC and
O&M Contract with PT PLN (Persero)
for PLTU Sulut-1.
294
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 461
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
(lanjutan) (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco Power Indonesia ("MPI") (lanjutan/continued)
PT PLN (Persero) dan 9 September 2019; terkahir Konsorsium 5oC yang terdiri dari MPI 5 tahun sejak tanggal operasi
Konsorsium 5oC ("IKPT- diubah pada tanggal 12 Juli dan lainnya telah menandatangani komersial (COD) (September
PP"-Sumitomo-Itochu- 2024/ kontrak EPC dan O&M dengan PT PLN 2024)/
MPI) September 9, 2019; last (Persero) untuk PLTU Timor-1./ 5 years from Commercial
amended dated July 12, 2024 The 5oC Consortium consist of MPI Operating Date (COD) (September
and others has signed an EPC and 2024)
O&M Contract with PT PLN (Persero)
for PLTU Timor-1.
iii. Perjanjian Jual Beli Gas iii. Gas Sale and Purchase Agreements
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Energi Prima Elektrika ("EPE")
PT Pertamina EP 30 Mei 2006; terakhir diubah PT Pertamina EP setuju untuk 10 tahun, kontrak diperpanjang
pada tanggal 18 Desember menyediakan dan mengirimkan gas ke hingga 31 Desember 2023/
2024/ pembangkit listrik EPE untuk 2 MMSCF 10 years, contract was extended
May 30, 2006; last amendment per hari dengan pembelian minimum up to December 31, 2023
dated December 18, 2024. tahunan 80%. Pada tanggal 18
Desember 2024, para pihak sepakat Saat ini sedang proses
untuk merevisi harga gas sementara perpanjangan kontrak hingga
dan melaksanakan keputusan berakhir masa berlaku PPA/
pemerintah terkait harga gas/ Currently in the process of
PT Pertamina EP agreed to provide extending the contract until the end
and deliver gas to EPE’s power plant of PPA terms.
for 2 MMSCF and minimum annual gas
usage of 80%. On December 18, 2024,
the parties agreed to revise the
temporary gas price and implement the
government decision on gas prices.
PT Universal Batam Energy ("UBE")
Premier Oil, Natuna 1 15 April 2008/ Premier Oil, Natuna 1, Natuna 2 dan 20 tahun/
BV (“Natuna 1”), Natuna April 15, 2008 Natuna setuju untuk menjual dan UBE 20 years.
2 B.V. (“Natuna 2”), setuju untuk membeli gas sebesar 20
KUFPEC Indonesia BBTU dari cadangan yang dilakukan
("Natuna") B.V. dan dari sumber lain milik penjual gas/
Premier Oil, Natuna 1, Natuna 2, and
Natuna agreed to sell and UBE agreed
to purchase gas 20 BBTU from
committed reserves and from other
sources of gas sellers.
295
Page 464
2025 Management Business Company Corporate
462 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
iii. Perjanjian Jual Beli Gas (lanjutan) iii. Gas Sale and Purchase Agreements
(continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Multidaya Prima Elektrindo (“MPE”)
PT Pertamina EP 30 Mei 2008; terakhir diubah PT Pertamina EP setuju untuk 10 tahun, kontrak diperpanjang
pada tanggal 18 Desember memberikan dan mengirimkan gas ke hingga 31 Desember 2023/
2024/ pembangkit listrik MPE untuk 2 MMSCF 10 years, contract was extended
May 30, 2008; last amendment per hari dengan pembelian minimum up to December 31, 2023
dated December 18, 2024 tahunan 80%. Pada tanggal 18
Desember 2024, para pihak sepakat Saat ini sedang proses
untuk merevisi harga gas sementara perpanjangan kontrak hingga
dan melaksanakan keputusan berakhir masa berlaku PPA/
pemerintah terkait harga gas/ Currently in the process of
PT Pertamina EP agreed to provide extending the contract until the end
and deliver gas to MPE’s power plant of PPA terms.
for 2 MMSCF and minimum purchase
annual gas usage of 80%. On
December 18, 2024, the parties agreed
to revise the temporary gas price and
implement the government decision on
gas prices.
PT Energi Listrik Batam (“ELB”)
PT PGN (Persero) Tbk 28 Agustus 2020; terakhir PT PGN (Persero) Tbk setuju untuk Sampai dengan 31 Desember
diubah pada tanggal 20 memberikan dan mengirimkan gas ke 2028/
Desember 2024/ pembangkit listrik ELB sebanyak Up to December 31, 2028
August 28, 2020; last 3.00-3.60 BBTU untuk periode sejak
amended dated December 20, tanggal dimulai sampai dengan 30
2024 November 2022, sebanyak 10.00-12.00
BBTU untuk periode sejak 1 Desember
2022 sampai dengan beroperasinya
Add-On CCPP, dan sebanyak
15.53-18.64 BBTU dari tanggal
beroperasinya Add-On CCPP sampai
tanggal berakhirnya Perjanjian/
PT PGN (Persero) Tbk agreed to
provide and deliver gas to the ELB’s
power plant in the amount of 3.00-3.60
BBTU for the period from the start date
until November 30, 2022, in the amount
10.00-12.00 BBTU for the period from 1
December 2022 until the operation of
Add-On CCPP, and in the amount of
15.53-18.64 BBTU from the operation
of Add-On CCPP until the end date of
Agreement.
296
Page 465
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 463
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
iv. Perjanjian Jasa Kontrak iv. Contract Service Agreement
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT TJB Power Services ("TJBPS")
Konsorsium Fortum 10 Juni 2005; terakhir diubah Penyedia MTS harus menyediakan jasa 5 tahun sejak amendemen
Service Oy dan Enprima tanggal 9 Agustus 2021/ manajemen dan dukungan teknis untuk perjanjian tanggal 9 Agustus 2021,
Oy, konsorsium yang June 10, 2005; last Proyek Tanjung Jati B dengan total kontrak diperpanjang hingga 10
didirikan berdasarkan amendment dated August 9, biaya mobilisasi sebesar AS$7.602.288 Agustus 2026/
hukum Finlandia 2021 dan biaya operasi sebesar 5 years since agreement
("Penyedia MTS"), AS$23.653.500 (biaya dasar) ditambah amendment dated August 9, 2021,
Medco-Fortum penyesuaian yang tercantum dalam contract was extended up to
(“Operator”), sebuah kontrak dan 25% biaya insentif tahunan August 10, 2026.
konsorsium yang yang disetujui oleh PT PLN (Persero).
didirikan berdasarkan Pada tanggal 9 Agustus 2021, PT TJB
hukum Indonesia./ Power Services dan Penyedia MTS
The Consortium of mengadakan amendemen atas
Fortum Service Oy and perjanjian MTS dimana kedua pihak
Enprima Oy, a setuju untuk memperpanjang perjanjian
consortium established untuk lima tahun ke depan mulai 11
under laws of Finland Agustus 2021 hingga 10 Agustus 2026.
(“MTS Providers”), Berdasarkan amendemen perjanjian,
Medco-Fortum Penyedia MTS akan tetap
(“Operator”), the menyediakan jasa manajemen dan
consortium established dukungan teknis untuk Perusahaan
under the laws of dengan total biaya operasional
Indonesia. minimum AS$7.440.000 (biaya dasar)
ditambah penyesuaian yang tercantum
dalam kontrak dan 20% dari biaya
insentif tahunan yang disetujui oleh
PLN/
MTS providers shall provide
management and technical support
services to Tanjung Jati B Project for
total mobilization fee of US$7,602,288
and operating fee of US$23,653,500
(base fee) plus adjustments as stated in
the contract and 25% of annual
incentive fee approved by PT PLN
(Persero). On August 9, 2021, PT TJB
Power Services and MTS Provider
entered into an amendment of MTS
agreement whereby both parties
agreed to extend the agreement for the
next five years starting August 11, 2021
until August 10, 2026. Under the
amended agreement, MTS Provider will
continue to provide management and
technical support services to the
Company for a total minimum operating
fee of US$7,440,000 (base fee) plus
adjustment stated in the contract and
20% of annual incentive fee approved
by PLN.
297
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2025 Management Business Company Corporate
464 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
b. Perjanjian Bidang Usaha Listrik (lanjutan) b. Power Business Activities Agreements
(continued)
v. Kontrak EPC dan Pengeboran Panas Bumi v. EPC and Geothermal Drilling Contract
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Energi Listrik Batam ("ELB")
PT Inti Karya Persada 21 Juli 2023; efektif per 3 Pada tanggal 21 Juli 2023, ELB Tidak disebutkan secara spesifik/
Tehnik Batam ("IKPT Agustus 2023/ menandatangani Engineering, Not specifically mentioned
Batam") July 21, 2023; effective as of Procurement and Construction Contract
August 3, 2023 dengan IKPT Batam untuk pelaksanaan
pekerjaan rekayasa, pengadaan dan
konstruksi Steam Turbine Generator
berkapasitas 39 MW di PLTG Tanjung
Uncang Batam milik ELB. Perjanjian
tersebut berlaku efektif sejak tanggal 3
Agustus 2023./
On July 21, 2023, ELB signed an
Engineering, Procurement and
Construction Contract with IKPT Batam
regarding the engineering, procurement
and construction of Steam Turbine
Generator with capacity 39MW in PLTG
Tanjung Uncang owned by ELB. The
agreement has been effective as of
August 3, 2023.
vi. Lain-Lain vi. Others
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Entity Agreement Date Commitment Contract Period
PT Medco Power Indonesia ("MPI")
Mitsui Energy 29 Juni 2023/ MPI setuju untuk membentuk suatu Perjanjian Konsorsium ini akan
Development Co., Ltd. June 29, 2023 konsorsium untuk melaksanakan berlaku sejak tanggal 29 Juni 2023
(dahulu/formerly Mitsui bersama kegiatan Penugasan Survei sampai dengan waktu mana yang
Oil Exploration Co., Ltd.) Pendahuluan dan Eksplorasi ("PSPE") terjadi terlebih dahulu; berlakunya
dari Pemerintah dan bergantung pada Izin Panas Bumi untuk wilayah
keberhasilan pengeboran eksplorasi. kerja Bonjol diberikan dari
Para pihak akan memiliki dan Kementerian Energi dan Sumber
mengembangkan bersama Proyek Daya Mineral Indonesia
Panas Bumi Bonjol, yang berlokasi di ("Kementerian ESDM") atau
Provinsi Sumatera Barat, Indonesia./ perjanjian diakhiri berdasarkan
MPI agreed to form a consortium to kesepakatan bersama/
jointly carry out the government's This Consortium Agreement will be
Preliminary Survey and Exploration effective from June 29, 2023
Assignment activities and contingently whichever occurs first; until
on the success of exploration drilling. Geothermal permits for the Bonjol
The parties will jointly own and develop working area are granted from the
the Bonjol Geothermal Project, located Indonesian Ministry of Energy and
in West Sumatra Province, Indonesia. Mineral Resources ("Ministry of
Energy and Mineral Resources") or
the agreement is terminated based
on mutual agreement, whichever
occurs first.
298
Page 467
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 465
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN COMMITMENTS
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat Agreements
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
PT Medco E & P Indonesia (“MEPI”)
PT Kilang Pertamina PJBM dalam proses finalisasi/ PJB Minyak Mentah yang efektif N/A
Internasional PJBM is in the finalization sampai dengan 31 Desember 2023,
process untuk tahun 2024, 2025 dan 2026
menggunakan surat konfirmasi
penawaran dan hingga seluruh
kewajiban dalam Perjanjian ini telah
selesai dilaksanakan oleh Para
Pihak. PJBM masih dalam proses
dan selalu di follow up ke pihak KPI/
COSPA effective until December 31,
2023, for 2024, 2025 and 2026 using
the offer confirmation letter and until
all the obligations in the agreement
have been settled by all parties.
PJBM is still in process and is
always being followed up with the
KPI.
PT Medco E & P Rimau (“MEPR”)
PT Kilang Pertamina PJBM dalam proses finalisasi/ PJB Minyak Mentah yang efektif N/A
Internasional PJBM is in the finalization sampai dengan 31 Desember 2023,
process untuk tahun 2024, 2025 dan 2026
menggunakan surat konfirmasi
penawaran dan hingga seluruh
kewajiban dalam Perjanjian ini telah
selesai dilaksanakan oleh Para
Pihak. PJBM masih dalam proses
dan selalu di follow up ke pihak KPI/
COSPA effective until December 31,
2023, for 2024, 2025 and 2026 using
the offer confirmation letter and until
all the obligations in the agreement
have been settled by all parties.
PJBM is still in process and is
always being followed up with the
KPI.
PT Medco E & P Malaka (“MEPM”)
PT Kilang Pertamina PJBM dalam proses finalisasi/ PJB Minyak Mentah untuk periode 1 N/A
Internasional PJBM is in the finalization Januari 2025 - 31 Desember 2025
process dan untuk periode 2026, lifting dan
pembayaran menggunakan surat
konfirmasi penawaran dan hingga
seluruh kewajiban dalam Perjanjian
ini telah selesai dilaksanakan oleh
Para Pihak. PJBM masih dalam
proses dan selalu di follow up ke
pihak KPI/
COSPA for the period January 1,
2025 - December 31, 2025 and for
2026, lifting and payment using the
offer confirmation letter and until all
the obligations in the agreement
have been settled by all parties.
PJBM is still in process and is
always being followed up with the
KPI
299
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2025 Management Business Company Corporate
466 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
PT Medco E & P Tarakan (“MEPT”)
PT Kilang Pertamina Perjanjian ditandatangani Perjanjian efektif dari 1 Januari N/A
Internasional ("KPI") tanggal 28 Agustus 2023. 2023 sampai dengan 31 Desember
Amandemen ditandatangani 2025. Amandemen untuk periode
14 Februari 2025/ tahun 2024 dan 2025. Untuk
Agreement signed August 28, periode 2026, lifting dan
2023. Amendment signed pembayaran menggunakan surat
February 14, 2025 konfirmasi penawaran dan hingga
seluruh kewajiban dalam Perjanjian
ini telah selesai dilaksanakan oleh
Para Pihak. PJBM masih dalam
proses dan selalu di follow up ke
pihak KPI/
Agreement effective January 1,
2023 until December 31, 2025.
Amendment for period 2024 and
2025. For 2026, lifting and payment
using the offer confirmation letter
and until all the obligations in the
agreement have been settled by all
parties. PJBM is still in process and
is always being followed up with the
KPI.
PT Medco E & P Simenggaris (“MEPS”)
PT Kilang Pertamina Perjanjian ditandatangani Perjanjian efektif dari 1 Januari
Internasional ("KPI") tanggal 25 September 2025/ 2025 sampai dengan 31 Desember
Agreement signed September 2025. Untuk periode 2026, lifting
25, 2025. dan pembayaran menggunakan
surat konfirmasi penawaran dan
hingga seluruh kewajiban dalam
Perjanjian ini telah selesai
dilaksanakan oleh Para Pihak.
PJBM masih dalam proses dan
selalu di follow up ke pihak KPI/
Agreement effective January 1,
2025 until December 31, 2025. For
2026, lifting and payment using the
offer confirmation letter and until all
the obligations in the agreement
have been settled by all parties.
PJBM is still in process and is
always being followed up with the
KPI.
300
Page 469
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 467
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Thailand (Bualuang) Limited (“METB”) dan Medco Energi Thailand (E&P) Limited (“METEP”)
Glencore Singapore Pte. Ltd. Perjanjian ditandatangani Perjanjian baru yang efektif dari 1 N/A
("Glencore") tanggal 23 Oktober 2023/ Januari 2024 sampai dengan 23
Agreement signed October Oktober 2025/
23, 2023 New Agreement effective January 1,
2024 until October 23, 2025.
PETCO Trading Labuan Perjanjian ditandatangani Perjanjian Jual Beli Minyak Mentah Perjanjian Pembayaran Di Muka
Company Ltd. tanggal 15 Agustus 2025/ ini efektif sejak tanggal 24 Oktober sejumlah AS$80.000.000 pada tahun
The Agreement signed on 2025 sampai dengan 31 Desember 2025/
August 15, 2025. 2027/ Prepayment Agreement for advance
The New COSPA shall commence payment of US$80,000,000 in 2025.
on October 24, 2025 and shall
continue until December 31, 2027.
Medco Energi Global Pte Ltd (“MEG”)
Glencore Singapore Pte. Ltd. 7 Januari 2023/ PJB Minyak Mentah Belanak, Belida, Perjanjian Pembayaran Di Muka
January 7, 2023 Forel & Senoro yang efektif dari sejumlah AS$100.000.000 pada
tanggal 1 Januari 2023 sampai tahun 2023 (telah dilunasi pada
dengan tanggal 31 Desember 2025 2025)/
dengan ketentuan bahwa setiap hak Prepayment Agreement for advance
dan kewajiban yang timbul payment of US$100,000,000 in 2023
berdasarkan Perjanjian ini harus (has been fully repaid in 2025).
diselesaikan sesuai dengan
ketentuan Perjanjian/
Belanak, Belida, Forel & Senoro
COSPA effective from January 1,
2023 until December 31, 2025
provided that any rights and
obligations which arise under this
Agreement shall be settled pursuant
to the provisions of the Agreement.
Petrolimex Singapore Pte Ltd Perjanjian Jual Beli Minyak PJBM Belida, Belanak, Forel berlaku N/A
Mentah Belida, Belanak, Forel efektif sejak tanggal 1 Januari 2026
ditandatangani tanggal 30 sampai dengan 15 Oktober 2028
Desember 2025/ dengan ketentuan bahwa setiap hak
Belida, Belanak, Forel dan kewajiban yang timbul
COSPA signed on December berdasarkan Perjanjian ini harus
30, 2025. diselesaikan sesuai dengan
ketentuan Perjanjian/
Belida, Belanak, Forel COSPA shall
be effective as of January 1, 2026
until October 15, 2028 provided that
any rights and obligations which
arise under this COSPA shall be
settled pursuant to the provisions of
the Agreement.
Saras Trading SA 6 Januari 2023/ PJB Kondensat Arun yang efektif N/A
January 6, 2023 dari tanggal 1 Januari 2023 sampai
dengan tanggal 31 Desember 2025
dengan ketentuan bahwa setiap hak
dan kewajiban yang timbul
berdasarkan Perjanjian ini harus
diselesaikan sesuai dengan
ketentuan Perjanjian/
Arun COSPA effective from
January 1, 2023 until
December 31, 2025 provided that
any rights and obligations which
arise under this Agreement shall be
settled pursuant to the provisions of
the Agreement.
301
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2025 Management Business Company Corporate
468 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Global Pte Ltd (“MEG”) (lanjutan/continued)
BCP Trading Global Pte. Ltd. 17 Januari 2023/ PJB Kondensat Grissik Mix yang N/A
January 17, 2023 efektif dari tanggal 1 Januari 2023
sampai dengan tanggal
31 Desember 2025 dengan
ketentuan bahwa setiap hak dan
kewajiban yang timbul berdasarkan
Perjanjian ini harus diselesaikan
sesuai dengan ketentuan Perjanjian/
COSPA effective from
January 1, 2023 until December 31,
2025 provided that any rights and
obligations which arise under this
Agreement shall be settled pursuant
to the provisions of the Agreement.
Mitsui & Co. Energy Trading Perjanjian Jual Beli PJBK Grissik Mix berlaku efektif N/A
Singapore Pte Ltd (METS) Kondensat Grissik Mix sejak tanggal 1 Januari 2026 sampai
ditandatangani tanggal 15 dengan 31 Desember 2028 dengan
Desember 2025/ ketentuan bahwa setiap hak dan
The Grissik Mix COSPA kewajiban yang timbul berdasarkan
signed on December 15, Perjanjian ini harus diselesaikan
2025. sesuai dengan ketentuan Perjanjian/
The Grissik Mix COSPA shall be
effective as of January 1, 2026 until
December 31, 2028 provided that
any rights and obligations which
arise under this COSPA shall be
settled pursuant to the provisions of
the Agreement.
PT Medco Daya Abadi Lestari 1 Juli 2020 terakhir diubah PJB Minyak Mentah untuk Efektif sejak 1 April 2021, telah
(“MDAL”) pada 2020/ pembelian, penerimaan dan dilakukan perubahan PJB Minyak
July 1, 2020; last amended on pembayaran minyak mentah dengan Mentah Belida dengan penambahan
2020 tanggal efektif perjanjian adalah 1 mekanisme pembayaran dengan
Juli 2020 dan akan berakhir dalam uang muka dan jangka waktu
jangka waktu 30 bulan atau hingga perjanjian akan berakhir pada 31
30 Desember 2022/ Desember 2024/
Agreement of Crude Oil Sales and Effective as of April 1, 2021, the
Purchase for purchase, receipt and Belida COSPA has been amended
payment of crude oil with effective with the addition of a payment
date from July 1, 2020 and term of mechanism with an advance
agreement of 30 months until payment and the term of the
December 30, 2022. agreement will end on
December 31, 2024.
Jumlah uang muka yang yang telah
dibayar oleh MEG pada tahun 2022
adalah sebesar AS$33,5 juta/
The total advance payment paid by
MEG in 2022 amounting to US$33.5
million.
302
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 469
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Global Pte Ltd (“MEG”) (lanjutan/continued)
PT Medco Daya Abadi Lestari 27 November 2023/ PJB Minyak Mentah untuk Efektif sejak 27 November 2023,
Singapore Branch (“MDAL November 27, 2023 pembelian, penerimaan dan telah dibuat perjanjian pembayaran
SG”) pembayaran minyak mentah dengan dengan uang muka dan jangka
tanggal efektif perjanjian adalah 21 waktu perjanjian akan berakhir pada
Desember 2022 dan akan berakhir 31 Desember 2025/
hingga 31 Desember 2025/ Effective as of November 27, 2023,
Agreement of Crude Oil Sales and Prepayment agreement has been
Purchase for purchase, receipt and made with advance payment and the
payment of crude oil with effective term of the agreement will end on
date from December 21, 2022 and December 31, 2025.
term of agreement until December
31, 2025
Shell International Eastern 5 April 2024/ PJB Minyak Mentah Oman Export Perjanjian Pembayaran Dimuka
Trading Company April 5, 2024 Blend efektif dari tanggal 1 April sejumlah AS$200.000.000 pada
2024 sampai dengan tanggal 31 tahun 2024/
Maret 2027. Pembeli harus Prepayment Agreement for advance
mengambil dan membeli dari payment of US$200,000,000 in
Penjual setiap bulan selama Jangka 2024.
Waktu Pengiriman, dengan tunduk
pada ketentuan COSPA ini, Seratus
Persen (100%) bagian Penjual atas
Oman Export Blend/
Oman Export Blend COSPA
effective from April 1, 2024 until
March 31, 2027. The Buyer shall lift
and purchase from the Seller each
month during the Delivery Term,
subject to the terms of this COSPA,
one Hundred Percent (100%) of
Seller’s entitlement of Oman Export
Blend Crude Oil.
303
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2025 Management Business Company Corporate
470 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Bangkanai Limited (“MEBL”)
PT Kimia Yasa 15 Juli 2014: amendemen PJB Kondensat dengan komitmen N/A
terakhir pada untuk memasok seluruh kondensat
27 September 2023/ yang diproduksi dari Karendan,
July 15, 2014: last amended berlaku hingga 20 Desember 2024/
on September 27, 2023 Condensate Sales and Purchase
Agreement (“COSPA”) with
Perubahan Kelima Atas commitment to supply all
Perjanjian Jual Beli condensate produces from
Kondensat Oleh dan Antara Karendan, valid until December 20,
Medco Energi Bangkanai 2024.
Limited dan PT Kimia Yasa.
Dibuat dan ditandatangani Perjanjian Jual Beli Kondensat yang
pada 20 Desember 2024/ berlaku efektif tanggal 21 Desember
Fifth Amendment To The 2024 sampai dengan 20 Desember
Condensate Sale And 2025/
Purchase Agreement By And Condensate Sales and Purchase
Between Medco Energi Agreement ("COSPA") effective from
Bangkanai Limited and PT December 21, 2024 until
Kimia Yasa. December 20, 2025.
Made and signed on
December 20, 2024.
Kontrak existing untuk PT
Kimia akan berakhir pada 20
December 2025 dan di
putuskan tidak akan di
perpanjang setelah tanggal
tersebut.
Medco Energi Bangkanai Ltd
dan PT Kimia Yasa telah
menyelesaikan kewajiban
berdasarkan perjanjian jual
beli kondensat hingga akhir
masa kontrak tersebut/
The existing contract for PT
Kimia Yasa will end on
December 20, 2025, and will
not be extended.
Medco Energi Bangkanai Ltd
and PT Kimia Yasa have
fulfilled all obligations under
the Condensate Sale and
purchase agreement through
the end of the contract term.
304
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 471
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Bangkanai Limited (“MEBL”) (lanjutan/continued)
PT Mirah Ganal Energi Perjanjian Jual Beli Perjanjian Jual Beli Kondensat yang N/A
Kondensat antara Medco mengikat para pihak dan berlaku
Energi Bangkanai Limited efektif pada saat tanggal
dengan PT Mirah Ganal penandatanganan dan berlaku
Energi, yang ditandatangani sampai dengan 29 Desember 2033/
tanggal 4 Desember 2024/ Condensate Sales and Purchase
Condensate Sale and Agreement that shall bind the parties
Purchase Agreement and is effective upon the signing
Between Medco Energi date and valid until December 29,
Bangkanai Limited and PT 2033.
Mirah Ganal Energi, entered
and signed on December 4,
2024.
PT Mirah Ganal Energi Perjanjian Penjualan Skema Spot Sale adalah skema jual N/A
Kondensat Spot Sales antara beli putus satu kali pembelian.
Medco Energi Bangkanai Jumlah kondensat yang di jual 300
Limited dengan PT Mirah bbls +/- 5%. Tanggal penyerahan
Ganai Energi, yang di buat kondensat kepada pembeli pada
dan ditandatangani tanggal tanggal 25 April 2025/
23 April 2025/ The Spot Sale scheme is a one-time
Spot Sales Condensate outright sale and purchase scheme.
Agreement between Medco The amount of condensate sold is
Energi Bangkanai Limited and 300 bbls +/- 5%. The condensate
PT Mirah Ganai Energi, made delivery date to the buyer is April 25,
and signed on April 23, 2025 2025.
Perjanjian Penjualan
Kondensat Kerendan dengan
Pembeli PT Mirah Ganal
Energi (MGE) untuk long term
dengan start date 1 Juli 2025
sampai dengan berakhirnya
PSC WK Bangkanai di tahun
2033/
Kerendan Condensate Sales
Agreement with Buyer PT
Mirah Ganal Energi (MGE) for
long term with start date of
July 1, 2025 until the end of
PSC WK Bangkanai in 2033
305
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2025 Management Business Company Corporate
472 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Sampang Pty., Ltd. (“MESP”)
PT Pertamina (Persero) 13 Februari 2017 novasi PJB Kondensat dengan dengan N/A
terakhir pada tahun 2021/ komitmen untuk memasok seluruh
February 13, 2017 last kondensat yang diproduksi dari
novated in 2021 Sampang, berlaku hingga 12
Februari 2021, yang kemudian
diperpanjang sampai dengan 12
Februari 2025/
CSPA with commitment to supply all
condensate produces from
Sampang, valid until February 12,
2021, which later extended until
February 12, 2025.
Berdasarkan Perjanjian Novasi
antara MESP, Singapore Petroleum
Sampang Ltd., Cue Sampang Pty.
Ltd., PT Pertamina (Persero) dan PT
Pertamina Patra Niaga (”PPN”), PJB
kondensat beralih kepada PPN/
Based on Novation Agreement
between MESP, Singapore
Petroleum Sampang Ltd., Cue
Sampang Pty. Ltd., PT Pertamina
(Persero) and PT Pertamina Patra
Niaga (”PPN”), the CSPA has been
novated to PPN.
PT Multi Colour Indonesia 21 Desember 2022/ Term Sheet Kondensat Sampang N/A
("MCI") December 21, 2022 efektif sejak tanggal nominasi
pertama 20 Januari 2023 selama 6
Perpanjangan Term Sheet 26 bulan yang selanjutnya diperpanjang
Juni 2023/ sampai dengan tanggal 31
Extension of Term Sheet Desember 2024/
June 26, 2023 Term Sheet Sampang Condensate
effective from the first nomination
Pengakhiran kontrak efektif date January 20, 2023 for 6 months
pada 1 April 2024/ which was subsequently extended
Contract termination effective up to December 31, 2024
on April 1, 2024
PT Surya Mandala Sakti 1 April 2024/ PJB Kondensat Sampang mengikat N/A
("SMS") April 1, 2024 Para Pihak sejak tanggal 1 April
2024 dengan jangka waktu kontrak
12 bulan/
Sampang CSPA shall binding the
Parties as at April 1, 2024 with the
term of CSPA of 12 months.
PT Surya Mandala Sakti 26 Februari 2025/ Perpanjangan PJB Kondensat N/A
("SMS") February 26, 2025 Sampang mengikat Para Pihak sejak
tanggal 1 April 2025 dengan jangka
waktu kontrak 12 bulan/
Sampang CSPA extension shall
binding the Parties as at April 1,
2025 with the term of CSPA of 12
months.
306
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 473
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
c. Perjanjian Jual Beli Minyak Mentah dan c. Crude Oil & Condensate Sales and Purchase
Kondensat (lanjutan) Agreements (continued)
Perusahaan/ Tanggal Perjanjian/ Komitmen/ Pembayaran uang muka/
Entity Agreement Date Commitment Advance payment
Medco Energi Sampang Pty., Ltd. (“MESP”) (lanjutan/continued)
Mitsui & Co. Energy Trading Perjanjian Jual Beli PJBK Senoro berlaku efektif sejak N/A
Singapore Pte Ltd (METS) Kondensat Senoro tanggal 1 Januari 2026 sampai
ditandatangani tanggal 15 dengan 31 Desember 2028 dengan
Desember 2025/ ketentuan bahwa setiap hak dan
The Senoro CSPA signed on kewajiban yang timbul berdasarkan
December 15, 2025. Perjanjian ini harus diselesaikan
sesuai dengan ketentuan
Perjanjian./
The Senoro CSPA shall be effective
as of January 1, 2026 until
December 31, 2028 provided that
any rights and obligations which
arise under this CSPA shall be
settled pursuant to the provisions of
the Agreement.
d. Perjanjian Lain-lain d. Other Agreements
i. Perjanjian Pengangkutan Gas Melalui Pipa i. Gas Transportation Agreement Through
Pipes
a. Pada tanggal 22 Februari 2023, TGI, a. On February 22, 2023, TGI, PetroChina
PetroChina International Jabung Ltd. International Jabung Ltd. ("PCJL"), as
("PCJL"), sebagai operator Jabung PSC Jabung PSC operator and Medco E&P
dan Medco E&P Grissik Ltd. ("MEPG"), Grissik Ltd. ("MEPG"), as the operator of
sebagai operator Corridor PSC, the Corridor PSC, signed a new Gas
menandatangani Perjanjian Pengangkutan Transportation Agreement (GTA) for
Gas baru (GTA) untuk kelanjutan continuation of gas delivery to Gas
pengaliran gas ke Gas Supply Pte. Ltd. Supply Pte. Ltd. ("GSPL") as the
("GSPL") sebagai pelaksanaan terhadap implementation of the new Gas Sales
Perjanjian Jual Beli Gas ("PJBG") baru Agreement ("GSA") with GSPL, under
dengan GSPL, dimana Corridor PSC which Corridor PSC starts its gas
memulai pengaliran gas nya ke GSPL dari delivery to GSPL from August 12, 2023.
tanggal 12 Agustus 2023. Ketentuan Terms of GTA volume and period are the
volume dan periode GTA adalah sama same as the GSA volume and period
dengan volume dan periode GSA dengan with GSPL.
GSPL.
307
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2025 Management Business Company Corporate
474 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
i. Perjanjian Pengangkutan Gas Melalui Pipa i. Gas Transportation Agreement Through
(lanjutan) Pipes (continued)
Berdasarkan Domestic Swap Agreement Based on the Domestic Swap Agreement
tanggal 21 Mei 2025 ("DSA"), sebagai salah dated May 21, 2025 ("DSA"), as one of the
satu pihak dari DSA, Medco E&P Grissik Ltd parties to the DSA, Medco E&P Grissik Ltd
pada tanggal 17 Juli 2025; on July 17, 2025:
(i) sebagai salah satu Penjual dari Perjanjian (i) as one of the Sellers of the Gas Sale and
Jual Beli Gas dengan Gas Supply Pte Purchase Agreement with Gas Supply
Ltd sebagai Pembeli, menandatangani Pte Ltd as the Buyer, signed a Letter of
Letter of Agreement - Delivery of Gas Agreement - Delivery of Gas Pursuant to
Pursuant to the DSA ("LOA") untuk the DSA ("LOA") to agree on the sale
menyepakati penjualan dan pembelian and purchase of Gas based on the
Gas berdasarkan PJBG selama periode GSPA during the swap period based on
swap berdasarkan DSA akan diatur oleh the DSA will be regulated by the GSPA
PJBG sebagaimana ditambahkan dan as supplemented and amended by the
diubah oleh syarat dan ketentuan dalam terms and conditions in the LOA; and
LOA; dan
(ii) sebagai salah satu shipper dari Perjanjian (ii) as one of the shippers of the Gas
Pengangkutan Gas dengan PT Transportation Agreement with PT
Transportasi Gas Indonesia ("TGI") Transportasi Gas Indonesia ("TGI") as
sebagai transporter, menandatangani the transporter, signed a Letter of
Surat Perjanjian atas Perjanjian Agreement on the Gas Transportation
Pengangkutan Gas tanggal 22 Februari Agreement dated February 22, 2023:
2023: Pengangkutan dan Pengiriman Transportation and Delivery of Gas
Gas ("Surat Perjanjian"). ("Letter of Agreement").
Berdasarkan Amendemen Domestic Swap Pursuant to the Domestic Swap Agreement
Agreement tanggal 29 Desember 2025 Amendment dated December 29, 2025
("Amandemen DSA") yang memperpanjang ("DSA Amendment"), which extends the
periode DSA sampai dengan 30 Juni 2026, DSA period until June 30, 2026, Medco E&P
sebagai salah satu pihak dari DSA, Medco Grissik Ltd, as one of the parties to the
E&P Grissik Ltd pada tanggal 29 Desember DSA, on December 29, 2025, signed:
2025, menandatangani: (i) the Amendment to the LOA; and
(i) Amendemen LOA; dan (ii) the Amendment to the Letter of
(ii) Amendemen Surat Perjanjian. Agreement.
308
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 475
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
ii. Jasa Pendukung Pengeboran Minyak dan ii. Oil and Gas Drilling Support Services
Gas Bumi
Periode Kontrak/ Estimasi Nilai Kontrak/
Perusahaan/Entity
Contract Period Estimated Contract Value
PT Exspan Petrogas Intranusa (“EPI”)
PT Pertamina EP Asset 2 5 November 2019 – 28 Februari 2022/ Nilai kontrak Rp38.011.011.000/
November 5, 2019 – February 28, 2022 Contract value amounting to Rp38,011,011,000.
terakhir diperpanjang menjadi Nilai kontrak ditambah menjadi
tanggal 9 Januari 2023/ Rp49.401.582.500/
last amended to January 9, 2023 Increase in contract value to Rp49,401,582,500.
16 Oktober 2022 - 2 Januari 2025/ Nilai kontrak Rp41.732.600.000/
October 16, 2022 - January 2, 2025 Contract value amounting to Rp41,732,600,000.
PT Antareja Resources Tertanggal 13 November 2023 dan Pada tanggal 13 November 2023 PT Antareja
terakhir diperpanjang menjadi sampai Resources menandatangani Amandemen III
dengan tanggal 31 Desember 2026/ Perubahan dan Pernyataan Kembali Perjanjian
dated November 13, 2023 and last Jasa Sewa Menyewa Rig AR#09 (HTHP) Untuk
amended to December 31, 2026 Project Drilling untuk menambahkan jangka
waktu perjanjian sampai dengan 31 Desember
2026. Amandemen ini berlaku efektif pada 1
Januari 2024/
On November 13, 2023, PT Antareja Resources
signed Amendment III Amendment and
Restatement to the AR#09 (HTHP) Rig Rental
Services Agreement for the Drilling Project to
increase the term of the agreement until
December 31, 2026. This amendment became
effective on January 1, 2024.
PT Pertamina EP (Limau Tertanggal 31 Januari 2024 dan berlaku Nilai Kontrak sebesar Rp48.504.248.900/
Field dan Zona 4) sejak 19 Januari 2024 sampai 18 Contract Value amounting Rp48,504,248,900.
Februari 2026/
dated January 31, 2024 and valid from
January 19 2024 to February 18, 2026
309
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2025 Management Business Company Corporate
476 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
ii. Jasa Pendukung Pengeboran Minyak dan ii. Oil and Gas Drilling Support Services
Gas Bumi (lanjutan) (continued)
Periode Kontrak/ Estimasi Nilai Kontrak/
Perusahaan/Entity
Contract Period Estimated Contract Value
PT Exspan Petrogas Intranusa (“EPI”) (lanjutan/continued)
PT Scientific Drilling Tertanggal 17 Juni 2024 dan berlaku Nilai Kontrak sebesar Rp11.373.787.500/
International, Indonesia sejak tanggal penandatanganan sampai Contract Value amounting Rp11,373,787,500.
31 Desember 2024/
Dated June 17, 2024 and valid from the
date of signing until December 31, 2024
PT Pertamina EP (Limau Tertanggal 9 Oktober 2024, dan berlaku Nilai Kontrak sebesar Rp45.613.508.375/
Field, Regional 1 Zona 4) sejak 4 November 2024 sampai dengan Contract Value amounting Rp45,613,508,375.
3 Desember 2026/
Dated October 9, 2024, and valid from
November 4, 2024 to December 3,
2026.
PT Scientific Drilling Tertanggal 25 Oktober 2024 dan berlaku Amandemen I ini adalah untuk menambahkan
International Indonesia sejak 25 Oktober 2024 sampai dengan Nilai Perjanjian sebesar Rp2.515.500.000,
31 Desember 2024/ sehingga total Nilai Perjanjian adalah sebesar
Dated October 25, 2024 and valid from Rp13.889.287.500. Amandemen yang sudah
October 25, 2024 until December 31, ditandatangani Para Pihak baru diterima PT EPI
2024 pada bulan Mei 2025/
This Amendment I is to add the Agreement Value
by Rp2,515,500,000, so that the total Agreement
Value is Rp13,889,287,500. The amendment that
has been signed by the Parties was only received
by PT EPI in May 2025.
PT Pertamina EP Tertanggal 12 Desember 2025 dan EPI menandatangani Amandemen I Penyediaan
berlaku sejak 19 Januari 2024 sampai dan Pengoperasian 1 Unit Rig 350 HP dan
dengan 18 Mei 2026/ peralatan pendukung lainnya, yang
Dated December 12, 2025 and valid menambahkan jangka waktu menjadi 18 Mei
from January 19, 2024 to May 18, 2026 2026 dan menambahkan Nilai Perjanjian menjadi
total Rp53.354.673.790/
EPI signed Amendment I for the Provision and
Operation of 1 Unit of 350 HP Rig and other
supporting equipment, which added the time
period to May 18, 2026 and increased the
Agreement Value to a total of Rp53,354,673,790.
310
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 477
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
iii. Perpanjangan PSC iii. Extension of PSC
a. Pada tanggal 14 Januari 2019, a. On January 14, 2019, the Government of
Pemerintah Republik Indonesia melalui Indonesia through Decree No. 09 K/10/
Keputusan Menteri Energi dan Sumber MEM/2019 from the Ministry of Energy
Daya Mineral Republik Indonesia No. 09 and Mineral Resources approved the
K/10/MEM/2019 memberikan extension of Production Sharing Contract
persetujuan perpanjangan Kontrak Kerja (PSC) for Rimau Block Area. The gross
Sama (PSC) wilayah kerja Blok Rimau. split scheme will be applied to new
Kontrak baru dengan metode gross split contracts effectively on April 23, 2023 for
ini akan berlaku efektif pada tanggal 20 years. The contractor is obliged to
23 April 2023 untuk jangka waktu 20 offer 10% of their working interest to the
tahun. Kontraktor wajib menawarkan local government.
10% hak kelolanya kepada pemerintah
daerah.
b. Pada tanggal 19 Desember 2023, b. On December 19, 2023, Amended and
Amandemen dan Pernyataan Kembali Restated Production Sharing Contract
Kontrak Bagi Hasil Blok Corridor dalam Corridor Block for Cost Recovery
bentuk Cost Recovery antara SKK Migas between SKK Migas and PSC
dan kontraktor KKS Blok Corridor yaitu contractors Block Corridor, consist of
Medco E&P Grissik Ltd. (MEPG), PT Medco E&P Grissik Ltd. (MEPG), PT
Pertamina Hulu Energi Corridor dan Pertamina Hulu Energi Corridor and
Repsol Corridor SA dan berlaku pada Repsol Corridor SA dan effective on
tanggal 20 Desember 2023. Amendemen December 20, 2023. This Amended and
dan Pernyataan Kembali Kontrak Bagi Restated Production Sharing Contract
Hasil Blok Corridor ini disetujui oleh Block Corridor approved by Minister of
Menteri Energi dan Sumber Daya Energy and Natural Resuorces Number
Mineral Republik Indonesia melalui Surat 444.K/MG.01/MEM.M.2023 dated
Keputusan Nomor 444.K/MG.01/ December 12, 2023, for the period of 20
MEM.M.2023 tertanggal 12 Desember years, with the commitment for the
2023, untuk jangka waktu 20 tahun, amount of US$250 million. Corridor
dengan komitmen sebesar AS$250 Juta. Block PSC contractors have the
Kontraktor KKS Blok Corridor obligation to offer 10% Participating
berkewajiban untuk menawarkan 10% Interest to the Local Government.
Participating Interest kepada Pemerintah
Daerah.
311
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2025 Management Business Company Corporate
478 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
iv. Perjanjian Operasi Bersama Medco E&P iv. Joint Operating Agreement of Medco E&P
Natuna Ltd. Natuna Ltd.
Pada tanggal 1 Februari 2007, sebagai On February 1, 2007, as the owner of the
pemilik hak partisipasi di PSC Blok B Laut participating interest in South Natuna Sea
Natuna Selatan (“PSC”), (i) ConocoPhillips Block B PSC (“PSC”), (i) ConocoPhillips
Indonesia Inc. Ltd. (sekarang menjadi Indonesia Inc. Ltd. (now known as Medco
Medco E&P Natuna Ltd., “MEPN”) sebagai E&P Natuna Ltd., “MEPN”) as the owner of
pemilik 40% hak partisipasi dan juga 40% participating interest and also as the
sebagai operator, (ii) Inpex Natuna Ltd. operator, (ii) Inpex Natuna, Ltd. (now known
(sekarang menjadi Medco South Natuna as Medco South Natuna Sea Ltd.) as the
Sea Ltd.) sebagai pemilik hak partisipasi owner of 35% participating interest which
sebesar 35% yang telah mengalihkan hak has assigned its participating interest to PT
partisipasinya kepada PT Medco Daya Medco Daya Natuna, and (iii) Chevron
Natuna, dan (iii) Chevron South Natuna B South Natuna B Inc. (now known as Prime
Inc. (sekarang menjadi Prime Natuna Inc.) Natuna Inc.) as the owner of 25%
sebagai pemilik hak partisipasi sebesar 25% participating interest (the "Parties”) entered
(“Para Pihak”) mengadakan Perjanjian into a Joint Operating Agreement ("JOA") to
Operasi Bersama (“JOA”) untuk mengatur define their respective rights and obligations
hak dan kewajiban Para Pihak atas with respect to their operations under the
kegiatannya di wilayah kerja PSC. PSC.
Perjanjian ini menggantikan JOA tertanggal This agreement shall supersede the JOA
22 Mei 1969 dan akan terus berlaku sampai dated May 22, 1969 and shall continue in
diakhiri dengan persetujuan Para Pihak atau effect until terminated by consent of the
satu pihak dari semua kepentingan untuk Parties or the vesting in one party of all
seluruh atau sebagian dari wilayah kerja, interests as to the whole or any portion of
atau ketika berakhirnya kontrak. the contract area, or on expiration of the
Berdasarkan JOA, operator berhak contract. Based on the JOA, the operator
membebankan kepada Joint Account semua shall charge to the Joint Account all charges
biaya-biaya terkait jasa oleh induk for service rendered by the Corporate Parent
perusahaan operator. Nonoperator harus of the operator. The non-operator shall also
membayar kepada operator atas biaya pay to the operator parent company
Pada tanggal 15 Januari 1999, On January 15, 1999, ConocoPhillips
ConocoPhillips Indonesia Inc Ltd (sekarang Indonesia Inc Ltd (now known as Medco
menjadi Medco E&P Natuna Ltd, “MEPN”), E&P Natuna Ltd, “MEPN”), Premier Oil
Premier Oil Natuna Sea Limited (sekarang Natuna Sea Limited (now known as Premier
Premier Oil Natuna Sea B.V., “Premier Oil”) Oil Natuna Sea B.V., "Premier Oil") and Gulf
dan Gulf Resources (Kakap) Ltd. (sekarang Resources (Kakap) Ltd. (now known as Star
Star Energy (Kakap) Ltd.,”Star Energy”) Energy (Kakap) Ltd., "Star Energy") as "PSC
sebagai “Grup PSC” dengan persetujuan Group” with the consent and concurrence of
Pertamina, mengadakan Perjanjian West Pertamina, entered into West Natuna
Natuna Transportation System Joint Venture Transportation System Joint Venture
(“JV WNTS”). Grup PSC bermaksud untuk ("WNTS JV") Agreement. The PSC Group
membangun dan mengoperasikan Sistem wish to provide for the ownership
312
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 479
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
iv. Perjanjian Operasi Bersama Medco E&P iv. Joint Operating Agreement of Medco E&P
Natuna Ltd. (lanjutan) Natuna Ltd. (continued)
Jaringan SembGas dan Fasilitas Penerima, SembGas Line and the Receiving Facilities
dan bermaksud untuk menggunakan sistem also to use the system for the transporting
tersebut untuk mengangkut dan/atau and/or redelivery of gas other than pursuant
mengantarkan kembali gas selain gas yang to the Gas Sales Agreement (between
dimaksud dalam Perjanjian Penjualan Gas Pertamina and SembCorp Gas Pte. Ltd.).
(antara Pertamina dan SembCorp Gas Pte. This agreement shall remain in full force and
Ltd.). Perjanjian ini akan berlaku penuh full effect until all the PSC groups, each in its
sampai dengan semua Grup PSC, dalam capacity as a member of the WNTS JV
kapasitasnya sebagai anggota dari Grup JV Group, have withdrawn from this agreement.
WNTS menarik diri dari perjanjian ini.
Pada tanggal 31 Oktober 2008, MEPN, Star On October 31, 2008, MEPN, Star Energy
Energy dan Premier Oil (“Grup PSC”) and Premier Oil (The “PSC Group”) together
dengan persetujuan BPMIGAS (sekarang with the consent and concurrence of
SKK Migas) mengadakan Perjanjian BPMIGAS (now SKK Migas) entered into
Pengangkutan GSA2 atau GSA2 TA, GSA2 or The GSA2 TA, GSA2 shall mean
dimana GSA2 merupakan perjanjian antara the Agreement between Premier Oil and
Premier Oil dengan SembCorp Gas Pte. Ltd. SembCorp Gas Pte. Ltd. ("SembGas"). The
("SembGas"). Grup PSC telah mendapat PSC Group has been granted by SembGas,
izin dari SembGas, untuk menggunakan the right to use the SembGas Line for
Jalur SembGas untuk pengangkutan gas transportation of Gas for delivery under
GSA2 dan dalam kapasitasnya sebagai GSA2 and has granted in favor of the WNTS
anggota JV WNTS, mendapatkan izin JV Group, a license of the Receiving
penggunaan Fasilitas Penerima Facilities to enable the delivery of GSA2 gas
memungkinkan pengantaran gas GSA2 at delivery point.
pada titik penyerahan.
Sesuai dengan haknya sebagai anggota JV Pursuant to their right under the WNTS JV
WNTS, Grup PSC memiliki hak untuk parties, PSC Group has the right to use the
menggunakan sistem pengangkutan dan/ System for the transportation and/or delivery
atau penyerahan gas selain dari WNG Gas of gas other than WNG Gas (Agreement
(Perjanjian antara anggota JV WNTS), dan between WNTS JV Parties), and agrees to
dengan ini menyetujui untuk menyediakan provide gas transportation services to the
jasa pengangkutan gas kepada Kelompok GSA2 Supply Group. This agreement shall
Penyedia GSA2. Perjanjian ini berakhir pada end on July 14, 2028.
tanggal 14 Juli 2028.
313
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2025 Management Business Company Corporate
480 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
iv. Perjanjian Operasi Bersama Medco E&P iv. Joint Operating Agreement of Medco E&P
Natuna Ltd. (lanjutan) Natuna Ltd. (continued)
Pada tanggal 4 Maret 2024, MEPN, Star On March 4, 2024, MEPN, Star Energy dan
Energy dan Premier Oil (“Grup PSC”) Premier Oil (“PSC Group”) signed the Gas
mengadakan Perjanjian Pengangkutan Transportation Agreement for GSA3 or
GSA3 atau GSA3 TA, dimana GSA3 GSA3 TA, where GSA3 is an agreement
merupakan perjanjian antara MEPN, between MEPN, as the Seller for GSA3 with
sebagai Penjual untuk GSA3 dengan SembCorp Gas Pte. Ltd. (“SembGas”). This
SembCorp Gas Pte. Ltd. ("SembGas"). GSA3 TA will end by October 15, 2028. PSC
Perjanjian GSA3 TA ini akan berakhir pada Groups has obtained permit from SembGas,
15 October 2028. Grup PSC telah mendapat to use SembGas Line to transport the gas
izin dari SembGas, untuk menggunakan for GSA3 and in its capacity as party in
Jalur SembGas untuk pengangkutan gas WNTS JV, obtained permit to use the
GSA3 dan dalam kapasitasnya sebagai Receiving Facility to allow the delivery of
anggota JV WNTS, mendapatkan izin GSA3 gas at the delivery point. The delivery
penggunaan Fasilitas Penerima point used for GSA3 will be sharing meter
memungkinkan pengantaran gas GSA3 with GSA2. Therefore, GSA2 Seller and
pada titik penyerahan. Titik serah yang akan GSA3 Seller together with SembGas have
digunakan untuk GSA3 akan sama dengan signed the ORF2 meter sharing agreement
titik serah untuk GSA2. Untuk itu, Penjual on March 14, 2024.
untuk GSA2 dan Penjual untuk GSA3
bersama dengan SembGas telah
menandatangani surat kesepakatan
bersama penggunaan meter bersama ORF
2 pada 14 Maret 2024.
v. Letter of Agreement untuk Implementasi v. Letter of Agreement for the Implementation
atas Penyesuaian Harga Gas Bumi of Natural Gas Price Adjustment
Pada tahun 2020, perusahaan Medco In 2020, the Medco companies holding the
pemegang PSC Sampang, Madura, Blok A Sampang, Madura, Block A (Aceh) and
(Aceh) dan Sumatera Selatan South Sumatera PSCs signed Letters of
menandatangani Letters of Agreement Agreement (LOA) for the implementation of
(LOA) untuk implementasi atas penyesuaian natural gas price adjustments in accordance
harga gas bumi ("HGBT") sesuai dengan with Minister of Energy and Mineral
Keputusan Menteri Energi dan Sumber Resources decree number
Daya Mineral nomor 91K/12/MEM/2020. 91K/12/MEM/2020.
Pada tahun 2025, terdapat Keputusan In 2025, there was Minister of Energy and
Menteri Energi dan Sumber Daya Mineral Mineral Resources decree number 76.K/
Nomor 76.K/MG.01/MEM.M/2025 ("HGBT MG.01/MEM.M/2025 ("HGBT Industry") and
Industri") dan Nomor 77.K/MG.01/ Number 77.K/MG.01/MEM.M/2025 ("HGBT
MEM.M/2025 ("HGBT Listrik"), dimana Electricity"), wher Medco companies holding
perusahaan Medco pemegang PSC Blok A Block A (Aceh) PSC has signed LOA for
(Aceh) menandatangani LOA untuk implementation HGBT Industry on August
implementasi HGBT Industri pada tanggal 29, 2025.
29 Agustus 2025.
Perbedaan harga antara PJBG dengan LOA The difference in price between the
tidak akan mempengaruhi pendapatan respective GSAs and the LOAs will not
bulanan Grup. affect the Group’s monthly revenue.
314
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 481
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
49. KONTRAK, PERJANJIAN DAN IKATAN YANG 49. SIGNIFICANT CONTRACTS, AGREEMENTS AND
SIGNIFIKAN (lanjutan) COMMITMENTS (continued)
d. Perjanjian Lain-lain (lanjutan) d. Other Agreements (continued)
vi. Kontrak Unitisasi vi. Unitization Agreement
Sesuai dengan Peraturan Pemerintah No. In accordance with Government Regulation
35 Tahun 2004 tentang Kegiatan Usaha No. 35 Year 2004 on Upstream Oil and Gas
Hulu Minyak dan Gas Bumi, Kontraktor KKS Business Activities, a PSC contractor is
diwajibkan untuk melakukan unitisasi required to conduct unitization if it is proven
apabila terbukti adanya pelamparan that its reservoir extends into another
reservoir yang memasuki Wilayah Kerja contractor’s Working Area. The MoEMR will
Kontraktor lainnya. Menteri ESDM determine the operator for the unitization
menentukan operator pelaksana unitisasi based on the agreement between the
berdasarkan kesepakatan di antara para contractors involving the unitization after
Kontraktor yang melakukan unitisasi setelah considering the opinion of SKK Migas.
mendapatkan pertimbangan SKK Migas.
Karena beberapa pelamparan reservoir Since several of MEPG’s oil and gas
minyak dan gas MEPG memasuki Wilayah reservoirs extend into other Contractor’s
Kerja kontraktor lainnya, MEPG melakukan Working Areas, MEPG has entered into
perikatan Perjanjian Unitisasi dengan PT Unitization Agreement with PT Pertamina
Pertamina Hulu Energi Jambi Merang dan Hulu Energi Jambi Merang and PT
PT Pertamina EP dengan wilayah kerja di Pertamina EP for South Sumatera and
Sumatera Selatan dan Jambi yang efektif Jambi working area which effective until one
sampai dengan salah satu PSC berakhir. of the PSC ends.
vii. Perpanjangan Periode Produksi Bualuang vii. Bualuang Production Period Extension
Pada bulan Agustus 2025, Medco Energi In August 2025, Medco Energi Thailand
Thailand (Bualuang) Limited dan Medco (Bualuang) Limited and Medco Energi
Energi Thailand (E&P) Limited, telah Thailand (E&P) Limited, have received
menerima persetujuan dari Pemerintah approval from the Government of Thailand
Thailand atas perpanjangan masa produksi for an extension of the production period for
Lapangan Minyak Bualuang (Blok B8/38) di the Bualuang Oil Field (Block B8/38) in the
Teluk Thailand. Masa produksi ini Gulf of Thailand. The production period has
diperpanjang hingga 23 Oktober 2035 yang been extended until October 23, 2035,
mendukung keberlanjutan operasi serta allowing the Company to continue its
memperkuat komitmen Perseroan di operations and further strengthen its
kawasan tersebut. commitment to the region.
315
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2025 Management Business Company Corporate
482 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI 50. CONTINGENCIES
a. Litigasi a. Litigations
i. Gugatan Hukum Khairil Anwar dengan i. Lawsuit from Khairil Anwar Against PT
PT Medco E & P Malaka (“MEPM”) Medco E & P Malaka (“MEPM”)
Pada tanggal 28 Agustus 2018, Khairil On August 28, 2018, Khairil Anwar
Anwar (Penggugat), melalui kuasa (Plaintiff), through his attorney filed a
hukumnya mengajukan gugatan terhadap lawsuit against PT Medco E & P Malaka
PT Medco E & P Malaka (“MEPM”) (“MEPM”) (Defendant I) and SKK Migas
(Tergugat I) dan SKK Migas (Tergugat II) (Defendant II) to South Jakarta District
kepada Pengadilan Negeri Jakarta Court. The lawsuit filed by Khairil Anwar
Selatan. Gugatan yang diajukan oleh is related to the demand for
Khairil Anwar terkait dengan permintaan compensation for construction of tunnel
ganti rugi atas pembangunan gorong- that leads the water/ dirty liquid/ waste
gorong yang menyebabkan air/cairan from construction of gas production
kotor/ limbah terkait pembangunan facilities of Block A directly to the
fasilitas pengelolaan gas Blok A Plaintiff’s land in Dusun TB.IV, Gempong
mengarah langsung ke lahan Penggugat Blang Nisam Village, Sub-district Indra
yang terletak di Dusun TB.IV, Desa Makmur, East Aceh, resulting in damages
Gempong Blang Nisam, Kecamatan Indra to Plaintiff’s land and plants.
Makmur, Aceh Timur, yang
mengakibatkan kerusakan tanah serta
tanaman Penggugat.
Pada 29 Oktober 2019, Pengadilan On October 29, 2019, the South Jakarta
Negeri Jakarta Selatan yang memeriksa District Court that examined and judged
dan mengadili Perkara telah the Case read out the verdict which
membacakan putusan yang pada intinya basically stated that the Plaintiff’s Claim
menyatakan Gugatan Penggugat tidak could not be accepted. Until the deadline
dapat diterima. Hingga tenggat waktu set out in the law, the Plaintiff did not
yang diatur dalam undang-undang, submit any Appeal and therefore the
Penggugat tidak mengajukan upaya Case’s decision was legally binding.
Banding dan oleh karenanya putusan
Perkara telah berkekuatan hukum tetap.
Pada 15 Januari 2020, Penggugat Subsequently, on January 15, 2020,
memulai gugatan serupa tetapi kali ini, Plaintiff initiated a similar lawsuit but this
Penggugat mengikutsertakan Badan time, Plaintiff included Badan Pengelola
Pengelola Migas Aceh sebagai Tergugat Migas Aceh as the Third Defendant.
Ketiga.
316
Page 485
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 483
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
i. Gugatan Hukum Khairil Anwar dengan i. Lawsuit from Khairil Anwar Against PT
PT Medco E & P Malaka (“MEPM”) Medco E & P Malaka (“MEPM”)
(lanjutan) (continued)
Putusan pengadilan dibacakan pada Court decision read out the verdict on
21 Februari 2022. Dalam pembacaan February 21, 2022. During the
putusan, pertimbangan Majelis Hakim pronouncement of the verdict, the Panel
yang mendasari putusan perkara of Judges’ considerations which underlies
menyatakan: the case decision stated:
1. Dalam Eksepsi: menolak eksepsi 1. In Exception: rejects the exception
dari Tergugat I, Tergugat II, dan from the Defendant I, the Defendant
Tergugat III; dan II, and the Defendant III; and
2. Dalam Pokok Perkara: 2. In Merits Case:
i. Menyatakan gugatan i. Declare the Plaintiff’s lawsuit
Penggugat diterima sebagian. partially accepted.
ii. Menyatakan bahwa Tergugat I, ii. Declare that Defendant I,
Tergugat II dan Tergugat III Defendant II and Defendant III
telah melakukan perbuatan have committed an unlawful act
melawan hukum tanpa without being punished to pay
dihukum untuk membayar ganti any compensation.
rugi.
iii. Memerintahkan Tergugat I, iii. To order Defendant I,
Tergugat II dan Tergugat III Defendant II and Defendant III
untuk membayar biaya perkara. to pay court costs.
MEPM berpendapat putusan tersebut MEPM is of the opinion that the verdict
tidak memiliki dasar hukum yang layak, have no proper legal basis, and therefore
oleh karena itu MEPM mengajukan MEPM have submitted an appeal to the
banding kepada Pengadilan Tinggi DKI DKI Jakarta High Court.
Jakarta.
Pada tanggal 21 Februari 2023, On February 21, 2023, the DKI Jakarta
Pengadilan Tinggi DKI Jakarta telah High Court issued the verdict by Decision
mengeluarkan Putusan Nomor 106/ Number 106/PDT/2023/PTDKI which in
PDT/2023/PTDKI yang pada intinya essence strengthened the previous
memperkuat putusan Pengadilan Negeri District Court decision.
sebelumnya.
Berdasarkan Putusan Pengadilan Tinggi Based on the verdict of the DKI Jakarta
DKI Jakarta tersebut, baik MEPM High Court, both MEPM and the Plaintiff
maupun Penggugat masing-masing respectivelly submitted Cassation to the
mengajukan Kasasi kepada Mahkamah Supreme Court of the Republic of
Agung Republik Indonesia. Indonesia.
317
Page 486
2025 Management Business Company Corporate
484 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
i. Gugatan Hukum Khairil Anwar dengan i. Lawsuit from Khairil Anwar Against PT
PT Medco E & P Malaka (“MEPM”) Medco E & P Malaka (“MEPM”)
(lanjutan) (continued)
Pada tanggal 25 Juni 2024, Mahkamah On June 25, 2024, the Supreme Court of
Agung Republik Indonesia telah the Republic of Indonesia issued Decision
mengeluarkan Putusan Nomor 901/K/ Number 901/K/PDT/2024 which
PDT/2024 yang pada intinya memperkuat essentially strengthened the decision of
putusan Pengadilan Tinggi DKI Jakarta the DKI Jakarta High Court with an
dengan tambahan berupa penetapan additional determination of material
ganti kerugian materil sebesar compensation amounting to
Rp.39.290.400 (tiga puluh sembilan juta Rp39,290,400 (thirty-nine million two
dua ratus sembilan puluh ribu empat hundred ninety thousand four hundred
ratus Rupiah). Penggugat sebelumnya Rupiah). The Plaintiff previously from the
sejak awal gugatan menuntut ganti rugi start of the lawsuit demanded material
materil sebesar Rp.2.826.360.000 (dua compensation of Rp2,826,360,000 (two
milyar delapan ratus dua puluh enam juta billion eight hundred twenty-six million
tiga ratus enam puluh ribu Rupiah). three hundred and sixty thousand
Rupiah).
Putusan Mahkamah Agung Republik
Indonesia merupakan putusan yang telah The decision of the Supreme Court of the
berkekuatan hukum tetap, meskipun Republic of Indonesia is a decision that
masih terdapat upaya hukum yang dapat final and binding, although there are still
dilakukan yaitu Peninjauan Kembali. legal remedies that can be taken, a
Sampai dengan laporan ini diterbitkan, Judicial Review. As of the publication of
belum ada pihak yang mengajukan this report, no party has submitted a
Peninjauan Kembali. request for Judicial Review.
Berita Acara Eksekus Putusan Settlement Payment Minutes has been
Pengadilan telah ditandatangani oleh signed by MEPM and Khairil Anwar on
MEPM dan Khairil Anwar pada tanggal 12 February 12, 2025 and followed by the
Februari 2025, yang diikuti dengan full payment of Rp39,290,400 (thirty-nine
pembayaran lunas sebesar million two hundred ninety thousand four
Rp39.290.400 (tiga puluh sembilan juta hundred Rupiah). The Settlement
dua ratus sembilan puluh ribu empat Payment Minutes has been registered to
ratus Rupiah). Berita Acara Pembayaran the South Jakarta District Court by March
Penyelesaian tersebut kemudian 21, 2025. The case is closed.
didaftarkan ke Pengadilan Negeri Jakarta
Selatan pada tanggal 21 Maret 2025.
Perkara telah selesai.
318
Page 487
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 485
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
ii. Gugatan Hukum dari Moto Mabanga ii. Lawsuit from Moto Mabanga Against
dengan Ophir Energy Ltd., Ophir Ophir Energy Ltd., Ophir Services Pty.
Services Pty. Ltd. (Perusahaan) dan B.G. Ltd. (the Company) and B.G. Tanzania
Tanzania Limited (Para Tergugat) pada Limited (the Defendants) Block 1, 3, and
Blok 1, 3, dan 4 Tanzania 4 Tanzania
(a) Perkara Komersial No. 185 Tahun (a) Commercial Case No. 185 of 2013,
2013, Pengadilan Tinggi Tanzania High Court of Tanzania (Commercial
(Divisi Komersial) di Dar es Salaam Division) at Dar es Salaam
Perkara ini, yang diajukan pada This case, filed in 2013, was
tahun 2013, telah dibatalkan oleh dismissed by the court in June 2018.
pengadilan pada bulan Juni 2018. Four years later, Moto Mabanga filed
Empat tahun kemudian, Moto Miscellaneous Commercial
Mabanga mengajukan Permohonan Application No. 19 of 2022, seeking
Komersial Lain-Lain No. 19 Tahun for extension of time within which to
2022, meminta perpanjangan waktu apply for an order to set aside the
untuk mengajukan perintah untuk court’s decision of June 2018.The
mengesampingkan keputusan application was dismissed in May
pengadilan Juni 2018. Permohonan 2022. Moto Mabanga then filed a
tersebut ditolak pada Mei 2022. Notice of Appeal against the court’s
Moto Mabanga kemudian decision dismissing the application
mengajukan Pemberitahuan but, to date, no appeal has been
Banding terhadap keputusan filed. Therefore, unless and until
pengadilan yang menolak Moto Mabanga files an appeal, for
permohonan tersebut, namun which it would required an extension
hingga saat ini, belum ada banding of time by the Court of Appeal, and
yang diajukan. Oleh karena itu, succeeds in the appeal, the High
kecuali dan sampai Moto Mabanga Court’s decision of May 2022,
mengajukan banding, yang mana dismissing the application, stands
memerlukan perpanjangan waktu and so does the court’s decision of
dari Pengadilan Banding, dan June 2018, dismissing the case.
berhasil dalam banding tersebut,
keputusan Pengadilan Tinggi Mei
2022, yang menolak permohonan,
tetap berlaku dan begitu juga
keputusan pengadilan Juni 2018,
memberhentikan kasus tersebut.
Kasus ini dianggap sebagai This case shall be considered as
masalah yang tertunda, namun jika pending matter, however if Moto
Moto Mabanga mengajukan banding Mabanga file an appeal against the
atas keputusan pengadilan yang court’s decision dismissing
menolak Permohonan Lain-Lain No. Miscellaneous Application No. 19 of
19 Tahun 2022 dan berhasil dalam 2022 and succeed in the appeal, it
banding tersebut, maka kemudian could then revive proceedings for
dapat menghidupkan kembali the restoration of the case. Unless
proses pemulihan kasus tersebut. and until that happen, even though
Kecuali dan sampai hal itu terjadi, the chances of it successfully
meskipun peluang keberhasilannya happening are remote, the case has
sangat kecil, kasus tersebut harus to be treated as having come to an
dianggap telah berakhir. end.
319
Page 488
2025 Management Business Company Corporate
486 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
ii. Gugatan Hukum dari Moto Mabanga ii. Lawsuit from Moto Mabanga Against
dengan Ophir Energy Ltd., Ophir Ophir Energy Ltd., Ophir Services Pty.
Services Pty. Ltd. (Perusahaan) dan B.G. Ltd. (the Company) and B.G. Tanzania
Tanzania Limited (Para Tergugat) pada Limited (the Defendants) Block 1, 3, and
Blok 1, 3, dan 4 Tanzania (lanjutan) 4 Tanzania (continued)
(b) Perkara Perdata Lain-Lain No. 14 (b) Miscellaneous Civil Cause No. 14 of
Tahun 2014, Pengadilan Tinggi 2014, High Court Tanzania (Dar es
Tanzania (Dar es Salaam) Salaam Registry)
Perkara konstitusional ini diawali This constitutional case commenced
dengan petisi dan berdasarkan by way of a petition and based on
fakta-fakta yang sama dengan similar facts as those in Commercial
Perkara Komersial No. 185 Tahun Case No. 185 of 2013, was tried by
2013 ini, disidangkan oleh the Constitutional court in May 2016,
Mahkamah Konstitusi pada Mei pending determination of
2016 secara paralel menunggu Commercial Case No. 185 of 2013.
penetapan Perkara Komersial No. Since the dismissal of the
185 Tahun 2013. Sejak Perkara commercial case in June 2018, Moto
Komersial pada Juni 2018 Mabanga has made no effort to
diberhentikan, Moto Mabanga tidak revive the proceedings in the
melakukan upaya untuk constitutional case. There are two
menghidupkan kembali proses options available to the Company.
perkara konstitusional. Ada dua First, it could let the status quo be
pilihan yang tersedia bagi maintained until Moto Mabanga
Perusahaan. Pertama, status quo revives the trial or the court, on its
dapat dipertahankan sampai Moto own motion, calls up the case.
Mabanga menghidupkan kembali Second, if it continued, but dormant,
persidangan atau pengadilan, atas pendency of the case is a matter of
mosinya sendiri, memanggil kasus concern to the Company (for
tersebut. Kedua, jika berlanjut, tetapi example, from an audit perspective)
tidak aktif, penundaan kasus the Company could file an
menjadi perhatian Perusahaan application to the court to have the
(misalnya, dari sudut pandang audit) constitutional case struck out
maka Perusahaan dapat because of Moto Mabanga’s failure
mengajukan permohonan ke to prosecute it.
pengadilan untuk membatalkan
perkara konstitusional karena Moto
Mabanga telah gagal untuk
menjalankannya.
320
Page 489
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 487
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
ii. Gugatan Hukum dari Moto Mabanga ii. Lawsuit from Moto Mabanga Against
dengan Ophir Energy Ltd., Ophir Ophir Energy Ltd., Ophir Services Pty.
Services Pty. Ltd. (Perusahaan) dan B.G. Ltd. (the Company) and B.G. Tanzania
Tanzania Limited (Para Tergugat) pada Limited (the Defendants) Block 1, 3, and
Blok 1, 3, dan 4 Tanzania (lanjutan) 4 Tanzania (continued)
(c) Perkara Perpajakan No. 18 Tahun (c) Taxation Cause No. 18 of 2019,
2019, Pengadilan Tinggi Tanzania High Court of Tanzania (Commercial
(Divisi Komersial) Division)
Perkara ini berkaitan dengan This relates to a bill of costs filed by
tagihan biaya yang diajukan oleh the Company in Commercial Case
Perusahaan dalam Perkara No. 18 of 2013. The bill of costs was
Komersial No. 18 tahun 2013. taxed on August 30, 2022, and an
Tagihan biaya dikenakan pajak pada amount of Shilling Tanzania
tanggal 30 Agustus 2022 dan 579,410,919 (equivalent to
sejumlah Shilling Tanzania approximately US$251,917) was
579.410.919 (setara dengan sekitar awarded to the Company. The
AS$251.917) telah diberikan kepada process for recovery of this amount
Perusahaan. Proses pemulihan from Moto Mabanga would entail
jumlah ini dari Moto Mabanga akan making an application to the court
memerlukan pengajuan ke for execution by way of attachment
pengadilan untuk eksekusi dengan and sale of Moto Mabanga’s assets
melampirkan dan menjual aset Moto in Tanzania. Such application has
Mabanga di Tanzania. Permohonan not been made because the
tersebut belum dibuat karena sejauh Company have been unsuccessful in
ini Perusahaan belum berhasil our efforts to find out any assets
dalam upaya untuk mengetahui aset owned by Moto Mabanga in
apa pun yang dimiliki oleh Moto Tanzania.
Mabanga di Tanzania.
(d) Perkara Perpajakan No. 61 Tahun (d) Taxation Cause No. 61 of 2022,
2022, Pengadilan Tinggi Tanzania High Court of Tanzania (Commercial
(Divisi Komersial) Division)
Tagihan biaya dalam Perkara The bill of costs in this taxation
Perpajakan ini timbul dari Perkara cause arose out of Commercial
Komersial No. 43 Tahun 2019 dan Case No. 43 of 2019 and was taxed
telah dikenakan pajak oleh by the court on August 12, 2022. An
pengadilan pada tanggal amount of Shilling Tanzania
12 Agustus 2022 sebesar Shilling 22,043,000 (equivalent to
Tanzania 22.043.000 (setara approximately US$9,584) was
dengan sekitar AS$9.584) diberikan awarded to the Company. Recovery
kepada Perusahaan. Pemulihan of the amount would have to be
jumlah tersebut harus melalui through execution by way of
eksekusi dengan melampirkan dan attachment and sale of Moto
menjual aset Moto Mabanga. Mabanga’s assets. An application for
Permohonan eksekusi tidak execution has not been filed, for the
diajukan, karena alasan-alasan reasons stated in point (c) above.
yang disebutkan dalam butir (c) di
atas.
321
Page 490
2025 Management Business Company Corporate
488 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
ii. Gugatan Hukum dari Moto Mabanga ii. Lawsuit from Moto Mabanga Against
dengan Ophir Energy Ltd., Ophir Ophir Energy Ltd., Ophir Services Pty.
Services Pty. Ltd. (Perusahaan) dan B.G. Ltd. (the Company) and B.G. Tanzania
Tanzania Limited (Para Tergugat) pada Limited (the Defendants) Block 1, 3, and
Blok 1, 3, dan 4 Tanzania (lanjutan) 4 Tanzania (continued)
(e) Perkara Perpajakan No. 96 Tahun (e) Taxation Cause No. 96 of 2022,
2022, Pengadilan Tinggi Tanzania High Court of Tanzania (Commercial
(Divisi Komersial) Division)
Tagihan biaya dalam Perkara The bill of costs in this taxation
Perpajakan ini muncul dari cause arose out of Commercial
Permohonan Komersial No. 19 Application No. 19 of 2022. It was
Tahun 2022. Dikenakan pajak, pada taxed, on September 9, 2022, at
9 September 2022, sebesar Shilling Shilling Tanzania 2,680,000
Tanzania 2.680.000 (setara dengan (equivalent to approximately
kurang lebih AS$1.165). Jumlah ini US$1,165). This amount would be
dapat diperoleh kembali melalui recoverable through execution by
eksekusi dengan melampirkan dan attachment and sale of Moto
menjual aset Moto Mabanga, tetapi Mabanga’s assets, but for similar
karena alasan yang sama seperti reasons as those stated in point (c)
yang disebutkan dalam poin (c) di above, this has so far not been
atas, sejauh ini hal tersebut tidak possible.
dapat dilakukan.
(f) Perkara Perpajakan No.57 Tahun (f) Taxation Cause No.57 of 2021,
2021, Pengadilan Banding Tanzania Court of Appeal of Tanzania
Tagihan biaya timbul dari Perkara The bill of costs arose out of Civil
Banding Perdata No. 119 Tahun Appeal No. 119 of 2021 instituted by
2021 yang diajukan oleh Moto Moto Mabanga against the decision
Mabanga terhadap putusan of the High Court (Commercial
Pengadilan Tinggi (Divisi Komersial) Division) in Commercial Case No. 43
dalam Perkara Komersial No. 43 of 2019. The bill of costs was taxed
Tahun 2019. Tagihan biaya tersebut on July 26, 2022, at Shilling
dikenakan pajak pada tanggal Tanzania 7,210,000 (equivalent to
26 Juli 2022 sebesar Shilling approximately US$3,130). For
Tanzania 7.210.000 (setara dengan similar reasons as stated in point (c)
kurang lebih AS$3.130). Dengan above, it has so far not been
alasan yang sama seperti pada butir possible to file an application for
(c) di atas, permohonan execution of the taxation order.
pelaksanaan perintah perpajakan
sampai saat ini belum dapat
diajukan.
322
Page 491
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 489
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
iii. Perkara Perdata No.30/PDT.G/2021/ iii. Civil Case No.30/PDT.G/2021/PN.LWK
PN.LWK antara Raflis Aminula Ali between Raflis Aminula Ali against JOB
melawan JOB Pertamina-Medco E&P Pertamina-Medco E&P Tomori Sulawesi
Tomori Sulawesi ("JOB Tomori") ("JOB Tomori")
Pada 29 Juni 2020, Raflis Aminula Ali On June 29, 2020, Raflis Aminula Ali
melalui kuasa hukumnya ("Penggugat") through his attorney ("Plaintiff") has
telah menyampaikan surat peringatan submitted a warning letter to JOB Tomori
kepada JOB Tomori terkait genangan air regarding the puddle that hit the plants on
yang melanda tanaman yang berada di the Plaintiff's land area of ± 8,365 m2
atas lahan Penggugat seluas ± 8.365 m2 ("Land") during the rainy season
("Tanah") ketika musim hujan terjadi, occurred, which came from a drainage of
yang berasal dari saluran pembuangan JOB Tomori.
air milik JOB Tomori.
Namun, pada 12 April 2021, Penggugat However, on April 12, 2021, the Plaintiff
tetap mendaftarkan gugatan perbuatan continued to register the lawsuit on the
melawan hukum kepada Pengadilan basis of against the law in Luwuk District
Negeri Luwuk dengan dalil sebagai Court with the following arguments:
berikut:
a. Pembuatan saluran pembuangan a. The drainage construction of JOB
milik JOB Tomori dibangun di atas Tomori was built on the Land and
Tanah dan tidak pernah ada there was never any prior approval/
persetujuan/konfirmasi terlebih confirmation from the Plaintiff;
dahulu dari Penggugat;
b. Saluran pembuangan tersebut b. The drainage causes environmental
menyebabkan pencemaran pollution;
lingkungan;
c. Genangan air pada Tanah c. Stagnant water in the Land causes
menyebabkan sebagian besar most of the productive plants (such
tanaman produktif (seperti coklat, as cocoa, coconut, mango, avocado,
kelapa, mangga, alpukat, pisang, banana, etc.) in the Land are
dsb) yang berada pada Tanah damage.
tersebut gugur/rusak.
Atas hal tersebut, Penggugat menuntut: On this matter, the Plaintiff claim:
a. Ganti rugi atas kerugian material a. Compensation for material losses
(akibat gagal panen) dengan total (due to crop damage) of
sebesar Rp800.000.000 (delapan Rp800,000,000 (eight hundred
ratus juta Rupiah); million Rupiah);
b. Ganti rugi atas kerugian material b. Compensation for material losses in
biaya perkara sebesar the amount of Rp100,000,000 (one
Rp100.000.000 (seratus juta hundred million Rupiah);
Rupiah);
c. Ganti rugi atas kerugian imaterial c. Compensation for immaterial losses
karena tanaman yang mati sebesar due to damage crops in amount of
Rp450.000.000 (empat ratus lima Rp450,000,000 (four hundred and
puluh juta Rupiah); fifty million Rupiah);
d. Uang Paksa (Dwangsom) sebesar d. Penalty (Dwangsom) of
Rp3.000.000 (tiga juta Rupiah) per Rp3,000,000 (three million Rupiah)
hari. per day.
323
Page 492
2025 Management Business Company Corporate
490 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
iii. Perkara Perdata No.30/PDT.G/2021/ iii. Civil Case No.30/PDT.G/2021/PN.LWK
PN.LWK antara Raflis Aminula Ali between Raflis Aminula Ali against JOB
melawan JOB Pertamina-Medco E&P Pertamina-Medco E&P Tomori Sulawesi
Tomori Sulawesi ("JOB Tomori") ("JOB Tomori") (continued)
(lanjutan)
Sidang putusan dilaksanakan pada Verdict hearing concluded on March 2,
tanggal 2 Maret 2022. Majelis Hakim 2022. Judges stated that JOB Tomori did
menyatakan JOB Tomori tidak melakukan not conduct an environmental pollution
pencemaran lingkungan melainkan but destruction of land owned by the
perusakan tanah milik Penggugat, dan Plaintiff, and punish JOB Tomori to pay
menghukum JOB Tomori untuk Rp90,000,000 (ninety million rupiah) out
membayar sebesar Rp90.000.000 of the total claim amount from the Plaintiff
(sembilan puluh juta rupiah) dari jumlah originally claim is Rp1,300,000,000 (one
tuntutan Penggugat semula sebesar billion and three hundred million rupiah).
Rp1.300.000.000 (satu miliar tiga ratus
juta rupiah).
JOB Tomori telah mengajukan JOB Tomori have submitted the
permohonan banding pada tanggal 15 application of appeal on March 15, 2022.
Maret 2022, Pengadilan Tinggi Palu telah On July 26, 2022, Palu High Court have
mengeluarkan putusan pengadilan issued the verdict of this case which
perkara ini yang menguatkan putusan affirming the previous verdict of Luwuk
sebelumnya yang dikeluarkan oleh District Court.
Pengadilan Negeri Luwuk.
JOB Tomori telah mengajukan JOB Tomori has submitted cassation
permohonan kasasi pada tanggal 30 request on September 30, 2022, against
September 2022 terhadap putusan Palu High Court verdict. On May 16,
Pengadilan Tinggi Palu. Pada tanggal 2023, Supreme Court have issued the
16 Mei 2023, Mahkamah Agung telah verdict of this case which affirming the
mengeluarkan putusan pengadilan previous verdict issued by Palu High
perkara ini yang menguatkan putusan Court.
sebelumnya yang dikeluarkan oleh
Pengadilan Tinggi Palu.
JOB Tomori telah mengajukan perjanjian JOB Tomori has submitted the settlement
penyelesaian bersama dengan agreement along with the judicial review
permohonan peninjauan kembali pada on December 1, 2023, against Supreme
tanggal 1 Desember 2023 terhadap Court verdict. On June 25, 2024, the
putusan yang dikeluarkan Mahkamah Supreme Court has issued a verdict
Agung. Pada tanggal 25 Juni 2024, accepting and acknowledge the
Mahkamah Agung telah mengeluarkan settlement agreement. The case is closed
putusan yang menerima perjanjian
penyelesaian tersebut. Kasus ini
dinyatakan selesai.
324
Page 493
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 491
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
iv. Gugatan Hukum terhadap PT Pelayanan iv. Lawsuit to PT Pelayanan Listrik Nasional
Listrik Nasional Batam Batam
Pada tanggal 27 Agustus 2020, PT On August 27, 2020, PT Energi Listrik
Energi Listrik Batam (“ELB”) (Penggugat) Batam (“ELB”) (Plaintiff) filed a lawsuit
mengajukan gugatan kepada PT against PT Pelayanan Listrik Nasional
Pelayanan Listrik Nasional Batam Batam (Defendant) at the Indonesia
(Tergugat) di Badan Arbitrase Nasional National Board of Arbitration (BANI). The
Indonesia (BANI). Sidang pertama first hearing was held on
dilaksanakan pada tanggal December 7, 2020, with the result shall
7 Desember 2020 dengan hasil yang be decided within 180 days after the first
harus diputuskan dalam waktu 180 hari hearing. The claim was filed for a
sejak sidang pertama. Gugatan ini compensation payment of
diajukan menyangkut pembayaran Rp160,243,870,018 for an alleged breach
kompensasi sebesar Rp160.243.870.018 of contract by Defendant. In addition,
untuk dugaan pelanggaran kontrak oleh Plaintiff also claimed interest of
Tergugat. Selain itu, Penggugat juga Rp7,958,722,139 for the delay of
mengajukan klaim bunga sebesar payment by Defendant.
Rp7.958.722.139 atas keterlambatan
pembayaran oleh Tergugat.
Pada tanggal 13 Agustus 2021, BANI On August 13, 2021, BANI completed the
telah menyelesaikan pemeriksaan dan examination and decided the case by
memutus perkara dengan menjatuhkan imposing a Decision to accept part of the
Putusan untuk menerima sebagian Plaintiff’s demand by punishing the
tuntutan Penggugat dengan menghukum Defendant to pay compensation and
Tergugat untuk membayar ganti rugi dan indemnify the administrative, examination
mengembalikan biaya administrasi, and arbitration fees to the Plaintiff.
pemeriksaan dan arbiter kepada
Penggugat.
Pada tanggal 10 September 2021, BANI On September 10, 2021, BANI has
telah mendaftarkan salinan otentik registered an authentic copy of BANI
putusan BANI tanggal 13 Agustus 2021 decision dated August 13, 2021, to the
tersebut di Pengadilan Negeri Batam. Batam District Court.
Pengadilan Negeri Batam telah Batam District Court has issued decision
menerbitkan keputusan untuk menolak to reject BANI result on January 13, 2022.
putusan BANI pada tanggal On January 27, 2022, and
13 Januari 2022. Pada tanggal February 3, 2022, BANI and ELB
27 Januari 2022 dan 3 Februari 2022, submitted a deed of appeal on the Batam
BANI dan ELB menyampaikan nota District Court decision to the Supreme
banding atas putusan Pengadilan Negeri Court.
Batam ke Mahkamah Agung.
Pada tanggal 5 Juli 2022, Majelis Hakim On July 5, 2022, the Supreme Court
Mahkamah Agung telah memutuskan rejected the annulment of the BANI
untuk menolak pembatalan putusan arbitration decision by the Batam District
arbitrase BANI oleh Pengadilan Negeri Court and upheld the BANI arbitration
Batam dan menguatkan amar putusan decision in ELB favour.
arbitrase BANI untuk pihak ELB.
325
Page 494
2025 Management Business Company Corporate
492 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
iv. Gugatan Hukum terhadap PT Pelayanan iv. Lawsuit to PT Pelayanan Listrik Nasional
Listrik Nasional Batam (lanjutan) Batam (continued)
Pada tanggal 6 Maret 2023, Para Pihak On March 6, 2023, the parties signed the
menandatangani perjanjian penyelesaian agreement and implementation of the
dan pelaksanaan Putusan Mahkamah Supreme Court's decision with an
Agung dengan kesepakatan agreement of the settlement by ELB
penyelesaian dengan cara ELB akan would issue a bill of Rp77,389,399,990 as
menerbitkan tagihan sebesar a compensation and Rp1,225,882,900 as
Rp77.389.399.990 sebagai pelaksanaan a portion of administrative obligations.
ganti rugi dan Rp1.225.882.900 sebagai The issued bill paid by PLNB on
porsi kewajiban administrasi. PLNB telah March 31, 2023.
melakukan pembayaran atas tagihan
tersebut pada 31 Maret 2023.
Manajemen tidak menganggap Management did not account such
Keputusan Mahkamah Agung sebagai Supreme Court decision as an adjusting
kejadian setelah tanggal neraca yang event after the balance sheet date in the
memerlukan penyesuaian pada laporan Company's financial statements for the
keuangan Perusahaan untuk periode period ended December 31, 2024.
yang berakhir pada tanggal Therefore, no contingent assets are
31 Desember 2024. Oleh karena itu, tidak accounted in the consolidated financial
terdapat aset kontinjensi yang tercatat statements as of December 31, 2024.
pada laporan keuangan konsolidasian
pada tanggal 31 Desember 2024.
v. Medco International Ventures Limited v. Medco International Ventures Limited
(“MIVL”) dan National Oil Corporation (“MIVL”) against National Oil Corporation
(“NOC”) pada International Court of (“NOC”) at International Court of
Arbitration of the International Chamber Arbitration of the International Chamber
of Commerce (“ICC”) of Commerce (“ICC”)
Pada tanggal 15 Maret 2022 MIVL On March 15, 2022, MIVL commenced an
mengajukan arbitrase melalui ICC ICC arbitration against the National Oil
terhadap National Oil Company of Libya Company of Libya (the “NOC”) to enforce
(“NOC”) untuk mempertahankan hak-hak its contractual rights under an Exploration
kontraktualnya berdasarkan Exploration and Production Sharing Agreement
and Production Sharing Agreement (“EPSA”) and to protect MIVL’s right to
(“EPSA”) dan untuk melindungi hak-hak benefit from its investment in Area 47, in
MIVL untuk mendapatkan keuntungan Libya.
dari investasinya di Area 47, di Libya.
Keputusan untuk melakukan arbitrase The decision to arbitrate was taken in
diambil sebagai tanggapan atas upaya response to the NOC’s attempts to
NOC untuk menghindari kewajibannya circumvent its obligations under the
berdasarkan EPSA dan upaya EPSA and its further attempt to prevent
selanjutnya untuk mencegah MIVL MIVL from fully participating in the
berpartisipasi penuh dalam development and exploitation of Area 47
pengembangan dan eksploitasi Area 47 by, instead, seeking to develop Area 47
bahkan, sebaliknya, berusaha for the NOC’s sole benefit.
mengembangkan Area 47 untuk
keuntungan pribadi NOC.
326
Page 495
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 493
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
v. Medco International Ventures Limited v. Medco International Ventures Limited
(“MIVL”) dan National Oil Corporation (“MIVL”) against National Oil Corporation
(“NOC”) pada International Court of (“NOC”) at International Court of
Arbitration of the International Chamber Arbitration of the International Chamber
of Commerce (“ICC”) (lanjutan) of Commerce (“ICC”) (continued)
MIVL meminta penegasan dalam bentuk MIVL seeks relief in the form of an order
perintah yang mengharuskan NOC untuk requiring the NOC to comply with its
mematuhi kewajibannya berdasarkan obligations under the EPSA and, in the
EPSA dan, sebagai alternatif, ganti rugi alternative, damages for all losses that
atas semua kerugian yang diderita oleh MIVL incurs because of NOC’s breaches
MIVL karena pelanggaran NOC terhadap of the EPSA. Those damages have yet to
EPSA. Kerugian-kerugian dimaksud be fully quantified.
belum sepenuhnya diperhitungkan.
MIVL dan NOC menandatangani MIVL and NOC signed a Settlement
Perjanjian Penyelesaian pada tanggal 28 Agreement on March 28, 2024, but the
Maret 2024, namun Perjanjian Settlement Agreement was not yet be
Penyelesaian tersebut belum berlaku effective until all the conditions are being
efektif sampai seluruh persyaratan satisfied. On May 24, 2024, the
dipenuhi. Pada tanggal 24 Mei 2024, Settlement Agreement has become
Perjanjian Perdamaian telah berlaku effective and therefore on May 28, 2024
efektif dan oleh karena itu pada tanggal MIVL and NOC have jointly sent a letter
28 Mei 2024 MIVL dan NOC secara to the Tribunal which essentially
bersama-sama mengirimkan surat informing:
kepada Tribunal yang pada intinya 1. record that the parties have settled;
menginformasikan: 2. require the parties to bear their own
1. bahwa para pihak telah mencapai costs of the proceedings; and
kesepakatan penyelesaian; 3. require the fees of the arbitral tribunal
2. para pihak akan menanggung masing- and the ICC's administrative expenses to
masing biaya persidangan; dan be paid in equal shares by the parties.
3. biaya majelis arbitrase dan biaya
administrasi ICC akan dibebankan dalam
jumlah yang sama kepada para pihak.
Pada tanggal 31 Juli 2024, Tribunal telah On July 31, 2024, Tribunal has issued a
mengeluarkan Termination Order yang Termination Order which terminates the
mengakhiri proses arbitrase berdasarkan arbitration process pursuant to the
kesepakatan Para Pihak untuk Parties’ agreement to discontinue the
menghentikan arbitrase ini sebagai hasil arbitration as a result of their settlement.
dari penyelesaian sengketa. Perkara The case is closed.
telah selesai.
327
Page 496
2025 Management Business Company Corporate
494 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
vi. Proses Litigasi PT Medco Ratch Power vi. PT Medco Ratch Power Riau Litigation
Riau Process
Novia Corry (Penggugat 1) dan Fenny Novia Corry (Plaintiff 1) and Fenny Wong
Wong (Penggugat 2) mengajukan (Plaintiff 2) filed a lawsuit against PT Lotte
gugatan terhadap PT Lotte Engineering & Engineering & Construction Co. Ltd
Construction Co. Ltd (Tergugat 1) dan (Defendant 1) and MRPR (Defendant 2) at the
MRPR (Tergugat 2) di Pengadilan Negeri South Jakarta District Court on the basis of
Jakarta Selatan atas dasar perbuatan unlawful act. The Plaintiffs claim to suffer loss
melawan hukum. Para Penggugat due to dredging and excavation of landfill
mengklaim menderita kerugian akibat activities in Plaintiff’s land carried out by
kegiatan pengerukan dan penggalian di Defendant 1. The lawsuit claim to Defendant 1
tanah Penggugat yang dilakukan oleh is to pay compensation in the amount of Rp10
Tergugat 1. Gugatan terhadap Tergugat 1 billion while the lawsuit claim to Defendant 2 is
adalah ganti rugi sebesar Rp10 miliar to pay penalty in the amount of Rp1 million for
sedangkan gugatan terhadap Tergugat 2 every day of delay in implementing the court
adalah membayar denda sebesar Rp1 decision.
juta untuk setiap hari keterlambatan
dalam melaksanakan putusan
pengadilan.
Pada 18 April 2023, Pengadilan Negeri On April 18, 2023, the District Court issued
mengeluarkan putusan di mana Tergugat decision in which Defendant 2 is sentenced to
2 dihukum membayar biaya perkara pay court cost of Rp986,000 (nine hundred
sebesar Rp986.000 (sembilan ratus eighty six thousand of Rupiah).
delapan puluh enam ribu Rupiah).
Pada tanggal 26 Januari 2024, On January 26, 2024, the Jakarta Hight Court
Pengadilan Tinggi Jakarta menguatkan upholds the decision of District Court.
putusan Pengadilan Negeri.
Pada 26 Februari 2024, MRPR telah On February 26, 2024, MRPR has submitted a
mengajukan kasasi ke Mahkamah Agung cassation to the Supreme Court of the
Republik Indonesia atas putusan Republic of Indonesia on the Jakarta Hight
Pengadilan Tinggi Jakarta. Grup Court decision. The Group states that such
menyatakan bahwa klaim terhadap claim to MRPR has no legal basis, therefore
MRPR tidak memiliki dasar hukum, oleh no provision has been made for this lawsuit in
karena itu tidak ada ketentuan yang the consolidated financial statements.
dibuat untuk gugatan ini dalam laporan
keuangan konsolidasi.
Pada 16 Desember 2024, Mahkamah On December 16, 2024, the Supreme Court
Agung menolak pengajuan kasasi MRPR rejected MRPR's cassation request so that the
sehingga putusan Pengadilan previous Court decision remained in effect and
sebelumnya tetap berlaku dan sentenced MRPR as Defendant 2 to pay court
menghukum MRPR sebagai Tergugat 2 costs for the cassation court process
untuk membayar biaya perkara atas amounting to Rp500,000.
biaya perkara di pengadilan kasasi
sebesar Rp500.000.
328
Page 497
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 495
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
a. Litigasi (lanjutan) a. Litigations (continued)
vii. Gugatan Hukum Ilyas Basyah melawan vii. Lawsuit from Ilyas Basyah against PT Medco
PT Medco E & P Malaka (“MEPM”) E & P Malaka (“MEPM”)
Pada tanggal 29 Januari 2024, Ilyas On January 29, 2024, Ilyas Basyah (Plaintiff),
Basyah (Penggugat) melalui kuasa through his attorney filed a lawsuit against
hukumnya mengajukan gugatan terhadap several Defendants including MEPM (as
beberapa Tergugat diantaranya MEPM Defendant V) and several Co-Defendants to Idi
(selaku Tergugat V) dan beberapa Turut District Court, which registered on February 2,
Tergugat ke Pengadilan Negeri Idi yang 2024. The lawsuit filed by Ilyas Basyah is
didaftarkan pada tanggal related to unlawful act and the demand
2 Februari 2024. Gugatan diajukan oleh compensation from all the Defendants for the
Ilyas Basyah terkait dengan perbuatan sale and purchase transaction and/or release
melawan hukum dan tuntutan ganti rugi of rights of plot of land at Gampong Blang
dari seluruh Tergugat atas transaksi jual Nisam Sub-district Indra Makmur, Aceh Timur.
beli dan/atau pelepasan hak atas tanah di
Gampong Blang Nisam Kecamatan Indra
Makmur, Aceh Timur.
Penggugat menghendaki Pengadilan The Plaintiff wishes Idi District Court to declare
Negeri Idi menyatakan seluruh Tergugat all the Defendants are jointly and severally pay
secara tanggung renteng membayar to the Plaintiff of material losses amounting to
kepada Penggugat kerugian materiil Rp1,700,000,000 and immaterial losses
sebesar Rp1.700.000.000 dan kerugian amounting to Rp5,000,000,000.
imateriil sebesar Rp5.000.000.000.
Proses mediasi dilakukan beberapa kali The mediation process conducted several
selama bulan Februari dan Maret 2024 times during February and March 2024 and
dan karena semua Tergugat menolak due to all the Defendants refuse to agree of
menyetujui usulan Penggugat, maka the Plaintiff’s proposal, the mediation declared
mediasi dinyatakan gagal. fail.
Gugatan berlanjut ke pemeriksaan pokok The lawsuit continues to the examination of the
perkara dan sidang pertama main subject and the first hearing was held on
dilaksanakan pada 1 April 2024. April 1, 2024. Currently this case is being
examined at the Idi District Court.
Pada tanggal 19 Agustus 2024, On August 19, 2024, the Idi District Court has
Pengadilan Negeri Idi telah issued the case verdict stating that to reject the
mengeluarkan putusan yang menyatakan Plaintiff's lawsuit in its entirety. On August 29,
menolak gugatan Penggugat untuk 2024, the Plaintiff filed an appeal against the
seluruhnya. Pada tanggal 29 Agustus Idi District Court's verdict, and the case
2024 Penggugat mengajukan Banding currently examined by the Banda Aceh High
atas putusan Pengadilan Negeri Idi, dan Court.
sampai saat ini masih dalam
pemeriksaan di Pengadilan Tinggi Banda
Aceh.
Pada tanggal 26 November 2024, On November 26, 2024, the Plaintiff has
Penggugat mengajukan Kasasi kepada submitted Cassation to the Supreme Court of
Mahkamah Agung Republik Indonesia the Republic of Indonesia, and the case
dan hingga saat ini perkara dalam currently examined by the Supreme Court of
pemeriksaan oleh Mahkamah Agung the Republic of Indonesia.
Republik Indonesia.
Pada tanggal 13 Agustus 2025, On August 13, 2025, the Supreme Court
Mahkamah Agung telah mengeluarkan issued a decision rejecting the Plaintiff’s
putusan yang menyatakan menolak cassation in its entirety. The case is concluded
Kasasi Penggugat untuk seluruhnya. and has final and binding decision.
Perkara telah selesai dan berkekuatan
hukum tetap.
329
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2025 Management Business Company Corporate
496 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
50. KONTINJENSI (lanjutan) 50. CONTINGENCIES (continued)
b. Klaim dari Audit oleh Pemerintah dan Mitra b. Government and Joint Operations Audit
Operasi Bersama Claims
Resolusi atas klaim yang tidak disetujui dapat Resolution of disputed claims may require a
memerlukan waktu pembahasan yang lama lengthy negotiation process extending over a
hingga beberapa tahun. Pada tanggal number of years. As of December 31, 2023,
31 Desember 2023, temuan audit Pemerintah the outstanding Government audit findings,
yang belum selesai terhadap klaim yang mainly relates to cost not eligible for cost
sebagian besar terkait dengan biaya yang recovery for the years 2012 until 2021.
tidak dapat di cost recovery dari tahun 2012 Management believes that the Group has
sampai dengan 2021. Manajemen meyakini strong position against these claims, and
bahwa Grup memiliki posisi kuat dalam therefore, no provisions have been made for
menghadapi tuntutan, dan oleh karena itu, these claims.
tidak terdapat provisi yang dicadangkan atas
klaim yang ada.
c. Kewajiban kepada Pihak Penjamin c. Surety Obligations
Medco Energi US LLC (MEUS) secara Medco Energi US LLC (MEUS) is contingently
kontinjen berkewajiban kepada perusahaan liable to a surety insurance company in the
asuransi penjamin dengan jumlah keseluruhan aggregate amount of US$3,000,000 as of
sebesar AS$3.000.000 pada tanggal 31 December 31, 2023 related to a bond issued
Desember 2023 terkait penerbitan obligasi on MEUS’s behalf to The United States
atas nama MEUS kepada The United States Bureau of Ocean Energy Management
Bureau of Ocean Energy Management (BOEM). The bond is a third party guarantee
(BOEM). Obligasi tersebut merupakan jaminan by the surety insurance company that MEUS
pihak ketiga dari perusahaan asuransi will operate in accordance with applicable rules
penjamin bahwa MEUS akan beroperasi and regulations and perform certain Plugging
sesuai dengan aturan dan ketentuan yang and Abandonment obligations as specified by
diterapkan dan akan melakukan kewajiban applicable purchase and sale and lease
Plugging and Abandonment seperti disebut agreements. On the completion date of the
dalam perjanjian jual beli dan perjanjian sewa consolidated financial statements, Sanare
guna usaha. Pada tanggal penyelesaian Energy Partners, LLC as the buyer of Blocks
laporan keuangan konsolidasian, Sanare Main Pass 64 and 65 has replaced certain of
Energy Partners, LLC sebagai pembeli dari MEUS’s surety obligations and has been
Blok Main Pass 64 dan 65 telah melakukan changed administratively in BOEM.
beberapa penggantian kewajiban MEUS atas
obligasi tersebut kepada pihak penjamin dan
telah diubah secara administratif di BOEM.
330
Page 499
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 497
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
51. LIABILITAS PEMBONGKARAN ASET DAN 51. ASSET ABANDONMENT AND SITE
RESTORASI AREA DAN PROVISI LAIN-LAIN RESTORATION OBLIGATIONS AND OTHER
PROVISIONS
Mutasi liabilitas pembongkaran aset dan restorasi The movements in asset abandonment and site
area adalah sebagai berikut: restoration obligations are as follows:
2025 2024
Indonesia Indonesia
Saldo awal 217.875.939 227.128.120 Beginning balance
Akresi selama tahun berjalan 7.466.480 10.637.270 Accretion during the year
Akuisisi entitas anak 46.060.043 – Acquisition of subsidiary
Reklasifikasi ke dimiliki untuk dijual – (3.942.984) Reclassification to held for sale
Penyesuaian 6.578.183 (15.946.467) Adjustment
Saldo akhir 277.980.645 217.875.939 Ending balance
Rekening yang dicadangkan (226.648.367) (164.801.244) Escrow accounts
Pencairan (1.229.232) (441.595) Encashment
Saldo akhir - neto 50.103.046 52.633.100 Ending balance - net
Internasional International
Saldo awal 71.973.795 82.360.328 Beginning balance
Akresi selama tahun berjalan 3.830.109 2.395.370 Accretion during the year
Penyesuaian 28.176.994 (12.781.903) Adjustment
Saldo akhir - neto 103.980.898 71.973.795 Ending balance - net
Jumlah 154.083.944 124.606.895 Total
Manajemen berkeyakinan bahwa akumulasi Management believes that the accumulated
penyisihan pada tanggal laporan posisi keuangan provisions as of the dates of the consolidated
konsolidasian telah cukup untuk menutup semua statements of financial position are sufficient to
liabilitas yang timbul dari kegiatan pembongkaran meet the environmental obligations resulting from
aset dan restorasi area di masa depan. Estimasi future asset abandonment and site restoration.
tersebut ditelaah setiap tahun dan disesuaikan bila These estimates are reviewed on annual basis and
diperlukan. Kisaran tingkat diskonto dan tingkat adjusted if required. The range of discount rate and
inflasi yang digunakan dalam perhitungan adalah inflation rate used in the calculation are as follows:
sebagai berikut:
2025 2024
Tingkat diskonto 1,66% - 6,10% 2,28% - 6,47% Discount rates
Tingkat inflasi 2,00% - 2,55% 2,00% - 2,59% Inflation rates
Rekening yang dicadangkan yang tercantum di atas The escrow accounts as mentioned above are
ditempatkan untuk mendanai liabilitas placed for the funding of asset abandonment and
pembongkaran aset dan restorasi area sehubungan site restoration obligations relating to oil and gas
dengan operasi minyak dan gas. operations.
331
Page 500
2025 Management Business Company Corporate
498 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
52. TIMUR TENGAH 52. MIDDLE EAST
Grup memiliki kontrak kerja sama untuk operasi The Group has oil and gas operations and
dan produksi minyak dan gas di Timur Tengah, production joint operations contracts in the Middle
termasuk Oman dan Yaman. Perkembangan East, including Oman and Yemen. Recent
geopolitik terkini telah mengakibatkan eskalasi geopolitical developments have resulted in
militer yang signifikan di berbagai negara Timur significant military escalation across the Middle
Tengah, menciptakan ketidakpastian ekonomi yang East, creating heightened economic uncertainty and
tinggi dan tantangan yang luas bagi bisnis yang wide-ranging challenges for businesses operating
beroperasi di dalam atau terkait dengan kawasan within or connected to the region. Given the
tersebut. Mengingat situasi yang terus berkembang, evolving situation, there are many unknown factors
banyak faktor dan peristiwa yang belum diketahui and events that could have an impact on the
yang dapat berdampak pada operasi Grup di Group’s operations in Middle East region.
kawasan Timur Tengah.
Setelah tanggal pelaporan, ketegangan geopolitik di Subsequent to the reporting date, geopolitical
Timur Tengah meningkat menyusul tindakan militer tensions in the Middle East escalated following
di kawasan tersebut pada akhir Februari 2026. military actions in the region at the end of February
Perkembangan ini menyebabkan meningkatnya 2026. These developments have resulted in
ketidakpastian geopolitik dan volatilitas di pasar heightened geopolitical uncertainty and increased
keuangan dan energi global. volatility in global financial and energy markets.
Grup menilai potensi dampak terhadap operasi, The Group assesses the potential implications on
posisi keuangan, dan kinerja keuangan Grup yang the results of the Group’s operations, financial
dapat timbul melalui beberapa faktor, termasuk: position and financial performance which may arise
through several factors, including:
• volatilitas harga komoditas dan energi • volatility in global commodity and energy
global; prices;
• gangguan pada rantai pasokan dan • disruptions in global supply chains and
logistik global; logistics;
• ketidakpastian makroekonomi yang lebih • broader macroeconomic uncertainty
luas yang memengaruhi permintaan affecting customer demand;
pelanggan;
• volatilitas di pasar valuta asing dan pasar • volatility in foreign exchange and financial
keuangan. markets.
Grup melakukan penilaian risiko secara berkala, The Group conducts periodic risk assessments,
menerapkan langkah-langkah keamanan yang implements enhanced security measures, and
ditingkatkan, dan berinteraksi dengan otoritas dan engages with local authorities and partners to
mitra lokal untuk menjaga kesinambungan maintain operational continuity. Management
operasional. Manajemen terus menilai dampak continues to assess the impact of the situation on
situasi terhadap operasi Grup dan dampak lebih the Group’s operations and further impact, if any,
lanjut, jika ada, akan dievaluasi dan tercermin will be evaluated and reflected in the subsequent
dalam periode berikutnya. periods.
Pada tanggal otorisasi atas laporan keuangan ini, However, as of the date of authorization of these
tidak memungkinkan untuk mengestimasi secara financial statements, it is not possible to reliably
andal dampak keuangan yang mungkin timbul estimate the financial impact that may arise from a
akibat potensi eskalasi lebih lanjut dari konflik potential further escalation of the conflict on the
tersebut pada laporan keuangan konsolidasian Group’s consolidated financial statements.
Grup.
Manajemen akan terus memonitor perkembangan Management will continue to monitor developments
terkait konflik ini dan menilai potensi dampaknya relating to the conflict and assess potential
pada periode pelaporan berikutnya. implications in future reporting periods.
332
Page 501
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 499
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
53. RISIKO OPERASIONAL 53. OPERATIONAL RISKS
Operasi Grup di sektor minyak dan gas bumi terkait The Group’s operations in the oil and gas sector are
dengan bahaya dan risiko bawaan pada saat subject to hazards and inherent risks in drilling,
pengeboran, produksi, dan transportasi atas gas production, and transportation of natural gas and
alam dan minyak seperti kebakaran, bencana alam, oil, such as fires, natural disasters, explosions,
ledakan, menghadapi formasi dengan tekanan yang encountering formations with abnormal pressures,
abnormal, semburan liar, amblas, pipa patah dan blowouts, cratering, pipeline ruptures and spills,
bocor yang dapat menyebabkan kehilangan which can result in the loss of hydrocarbons,
hidrokarbon, polusi lingkungan, klaim atas cedera environmental pollution, personal injury claims and
perorangan dan kerusakan lain atas aset tetap other damage to properties of the Group.
Grup. Sebagai tambahan, terdapat aktivitas minyak Additionally, some of the Group’s oil and natural
dan gas bumi tertentu Grup yang dilakukan di gas operations are located in areas that are subject
wilayah yang menghadapi gangguan cuaca tropis, to tropical weather disturbances, some of which can
yang dapat menyebabkan kerusakan yang be severe enough to cause substantial damage to
substansial atas fasilitas dan menghambat facilities and possibly interrupt production.
produksi.
Sebagai perlindungan terhadap risiko operasional As protection against operational risks, the Group
tersebut, Grup mempunyai perlindungan asuransi, maintains insurance coverage against some, but
namun tidak atas semua kerugian yang potensial. not all potential losses. The Group’s insurance
Perlindungan asuransi Grup untuk aktivitas coverage for its oil and gas exploration and
eksplorasi dan produksi gas dan minyak bumi production activities include, but is not limited to,
meliputi, tetapi tidak terbatas pada kerusakan loss of wells, blowouts and certain costs of pollution
sumur, semburan liar dan beberapa biaya tertentu control, physical damage to certain assets,
untuk pengendalian polusi, kerusakan fisik aset employer’s liability, comprehensive general liability,
tertentu, kewajiban terhadap karyawan, kewajiban automobile and workers compensation insurance.
umum yang komprehensif, asuransi kendaraan dan
kompensasi pekerja.
333
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2025 Management Business Company Corporate
500 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
54. TRANSAKSI NON-KAS 54. NON-CASH TRANSACTIONS
Transaksi non-kas terdiri dari: Non-cash transactions consist of:
2025 2024
Reklasifikasi dari aset lain-lain ke aset Reclassification from other assets to
tetap 115.193.317 — properties, plant and equipment
Penambahan aset hak guna melalui Additions of right of use asset involving
liabilitas sewa 97.504.381 158.446.910 lease of liabilities
Reklasifikasi dari aset tetap dalam
pembangunan ke piutang sewa Reclassification from construction in
pembiayaan 70.692.656 — progress to finance lease receivables
Penambahan pada aset konsesi 37.541.923 37.807.226 Addition to concession financial assets
Beban pendanaan yang berasal dari Financing charges from accretion in
akresi liabilitas restorasi area dan asset abandonment and site
pembongkaran aset 11.296.589 13.032.640 restoration obligations
Reklasifikasi dari aset eksplorasi dan Reclassification from exploration and
evaluasi ke aset minyak dan gas evaluation asset to oil and gas
bumi 238.981 10.362.395 properties
Pengurangan aset minyak dan gas Deduction to oil and gas properties
bumi karena reklasifikasi ke aset due to reclassification to asset held
dimiliki untuk dijual — (19.586.339) for sale
Pengurangan aset minyak dan gas Deduction of oil and gas properties
bumi akibat penurunan nilai — (20.028.214) due to impairment
Pengurangan aset eksplorasi dan Deduction of exploration and
evaluasi akibat sumur kering (7.825.731) — evaluation asset due to dry hole
Deductions of oil and gas properties
Pengurangan aset minyak dan gas involving asset abandonment and
melalui liabilitas pembongkaran aset (30.698.258) (17.836.300) site restoration obligations
Jumlah 293.943.858 162.198.318 Total
334
Page 503
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 501
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
55. PERUBAHAN LIABILITAS KEUANGAN YANG 55. CHANGES IN FINANCIAL LIABILITIES ARISING
TIMBUL DARI AKTIVITAS PENDANAAN FROM FINANCING ACTIVITIES
Tabel di bawah ini menyajikan perubahan liabilitas The following table sets out the changes of the
keuangan Grup yang timbul dari aktivitas Group’s financial liabilities arising from financing
pendanaan: activities:
2025
Mutasi
valuta
Arus kas asing/
Arus kas keluar/ Foreign
1 Januari/ masuk/ Cash exchange Lain-lain/ 31 December/
January 1 Cash Inflows Outflows movement Others1) December 31
Pinjaman bank jangka pendek 54.691.856 142.000.000 (203.062.714) 2.798.651 6.551.590 2.979.383 Short-term bank loans
Liabilitas derivatif Derivative liabilities
- Jangka pendek 12.653.816 – (16.756.833) – 10.709.113 6.606.096 Current -
Pinjaman jangka panjang yang
jatuh tempo dalam satu Current maturities of long-term
tahun: debt:
- Pinjaman bank 162.501.916 49.220.437 (177.917.666) 719.012 161.875.018 196.398.717 Bank loans -
- Pinjaman dari instansi Loans from non-bank -
keuangan non-bank 14.871 – (14.590) (283) 4.019.026 4.019.024 financial institution
- Obligasi rupiah 211.478.310 – (209.254.704) (2.321.199) 48.414.148 48.316.555 Rupiah bonds -
- Obligasi Dolar AS – – – – 91.563.279 91.563.279 US Dollar bonds -
Liabilitas sewa 130.372.051 – (169.837.111) (1.631.938) 136.916.306 95.819.308 Lease liabilities
Pinjaman jangka
panjang - setelah dikurangi
bagian jatuh tempo dalam Long-term debt net of current
setahun: maturities:
- Pinjaman bank 1.028.429.769 867.225.321 (296.090.476) (21.942.942) (167.270.511) 1.410.351.161 Bank loans -
- Pinjaman dari instansi Loans from non-bank -
keuangan non-bank 69.990.180 35.000.000 – – (4.019.024) 100.971.156 financial institution
- Obligasi Rupiah 330.777.880 315.626.798 – (20.997.170) (49.773.886) 575.633.622 Rupiah bonds -
- Obligasi Dolar AS 1.442.197.561 390.859.400 (461.529.000) – (155.448.494) 1.216.079.467 US Dollar bonds -
Liabilitas derivatif Derivative liabilities
- Jangka panjang 30.742.102 – – – 15.168.210 45.910.312 Non-current -
Liabilitas sewa 147.515.311 – – – 9.245.135 156.760.446 Lease liabilities
Jumlah liabilitas keuangan Total financing liabilities
dari aktivitas pendanaan 3.621.365.623 1.799.931.956 (1.534.463.094) (43.375.869) 107.949.910 3.951.408.526 from financing activities
335
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2025 Management Business Company Corporate
502 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
55. PERUBAHAN LIABILITAS KEUANGAN YANG 55. CHANGES IN FINANCIAL LIABILITIES ARISING
TIMBUL DARI AKTIVITAS PENDANAAN FROM FINANCING ACTIVITIES (continued)
(lanjutan)
Tabel di bawah ini menyajikan perubahan liabilitas The following table sets out the changes of the
keuangan Grup yang timbul dari aktivitas Group’s financial liabilities arising from financing
pendanaan (lanjutan): activities (continued):
2024
Mutasi
Valuta
Asing/
Arus Kas Arus Kas Foreign
1 Januari/ Masuk/ Keluar/ Exchange Lain-lain/ 31 Desember/
January 1 Cash Inflows Cash Outflows Movement Others1) December 31
Pinjaman bank jangka pendek 147.595.813 12.620.685 (166.003.304) (2.677.535) 63.156.197 54.691.856 Short-term bank loans
Liabilitas derivatif Derivative liabilities
- Jangka pendek 8.989.394 – (18.527.910) – 22.192.332 12.653.816 Current -
Pinjaman jangka panjang
yang jatuh tempo dalam Current maturities of long-
satu tahun: term debt:
- Pinjaman bank 156.613.607 25.450.000 (167.438.950) (14.436.188) 162.313.447 162.501.916 Bank loans -
- Pinjaman dari instansi Loans from non-bank -
keuangan non-bank 3.438.090 – (16.320.226) (93.804) 12.990.811 14.871 financial institution
- Obligasi rupiah 87.853.017 – (85.917.417) (17.667.640) 227.210.350 211.478.310 Rupiah bonds -
Liabilitas sewa 123.824.579 – (177.006.252) (927.546) 184.481.270 130.372.051 Lease liabilities
Pinjaman jangka
panjang - setelah dikurangi
bagian jatuh tempo dalam Long-term debt net of current
setahun: maturities:
- Pinjaman bank 691.356.819 521.202.728 (35.882.056) 16.470.795 (164.718.517) 1.028.429.769 Bank loans -
- Pinjaman dari instansi Loans from non-bank -
keuangan non-bank 21.212.390 62.131.796 – (363.199) (12.990.807) 69.990.180 financial institution
- Obligasi Rupiah 422.274.407 143.407.508 – (8.126.731) (226.777.304) 330.777.880 Rupiah bonds -
- Obligasi Dolar AS 1.765.072.297 – (289.334.000) – (33.540.736) 1.442.197.561 US Dollar bonds -
Liabilitas derivatif Derivative liabilities
- Jangka panjang 10.278.206 – – – 20.463.896 30.742.102 Non-current -
Liabilitas sewa 114.636.832 – – – 32.878.479 147.515.311 Lease liabilities
Jumlah liabilitas keuangan Total financing liabilities
dari aktivitas pendanaan 3.553.145.451 764.812.717 (956.430.115) (27.821.848) 287.659.418 3.621.365.623 from financing activities
1) Lain-lain terdiri atas biaya transaksi, amortisasi diskonto yang belum 1) Others consist of transaction cost, amortization of unamortized discount,
diamortisasi, akresi bunga, reklasifikasi pinjaman jangka panjang dan accretion, reclassification of loans from non-current to current portion,
jangka pendek, perubahan nilai wajar, dan penambahan aset hak guna change in fair value, and additions of right of use assets involving lease
melalui liabilitas sewa. liabilities.
336
Page 505
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 503
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
56. PERISTIWA SETELAH PERIODE PELAPORAN 56. EVENTS AFTER THE REPORTING PERIOD
i. Pada tanggal 8 Januari 2026, MPI melakukan i. On January 8, 2026, MPI has made early
pelunasan dipercepat atas hutang Bank BTN repayment of BTN Bank Loan
sebesar Rp126.000.000.000. Rp126,000,000,000.
ii. Pada tanggal 8 Januari 2026, MPI melakukan ii. On January 8, 2026, MPI has made principal
pelunasan atas hutang dari Bank Maybank repayment of Maybank loan
sebesar Rp50.000.000.000. Rp50,000,000,000.
iii. Pada tanggal 4 Februari 2026, Perusahaan iii. On February 4, 2026, the Company signed a
menandatangani perjanjian kredit fasilitas term credit agreement with PT Bank Negara
loan dengan PT Bank Negara Indonesia Indonesia (Persero) Tbk for term loan facility
(Persero) Tbk sebesar Rp8.000.000.000.000 of Rp8,000,000,000,000 with 84-month tenor.
dengan jangka waktu 84 bulan.
iv. Pada tanggal 4 Februari 2026, Perusahaan iv. On February 4, 2026, the Company signed a
menandatangani perjanjian kredit fasilitas credit agreement with PT Bank ICBC
Pinjaman Tetap dengan PT Bank ICBC Indonesia for fixed loan facility of
Indonesia sebesar Rp800.000.000.000 Rp800,000,000,000 with 60-month tenor.
dengan jangka waktu 60 bulan.
Pada tanggal 3 Maret 2026, Perusahaan On March 3, 2026, the Company has
melakukan penarikan sebesar withdrawn Rp400,000,000,000 on the fixed
Rp400.000.000.000 atas fasilitas Pinjaman loan facility. The Company has also entered
Tetap tersebut. Perusahaan juga telah into a “Cross Currency Swap” (“CCS”) for the
melakukan transaksi “Pertukaran Mata Uang Rupiah liabilities to US Dollar in which the
Silang” (“Cross Currency Swap”) untuk Company will pay fixed US Dollar interest rate
mengubah kewajiban Rupiah menjadi Dolar and receive fixed Rupiah interest rate.
AS dimana Perusahaan akan membayarkan
suku bunga tetap dalam Dolar AS dan
menerima suku bunga tetap dalam Rupiah.
v. Pada tanggal 11 Februari 2026, Grup v. On February 11, 2026, the Group announced
mengumumkan bahwa entitas anak yang that its wholly-owned sub-sidiary, Medco Asia
dimiliki sepenuhnya, Medco Asia Pacific Pacific Limited, has received a Letter of Award
Limited, telah menerima Letter of Award dari from Petroliam Nasional Berhad (PETRONAS)
Petroliam Nasional Berhad (PETRONAS) (“Petronas”) for the Cendramas PSC. Medco
(“Petronas”) untuk Pengelolaan Cendramas Asia Pacific Limited, DIALOG Resources Sdn.
PSC. Medco Asia Pacific Limited, DIALOG Bhd. and EnQuest Petroleum Production
Resources Sdn. Bhd., dan EnQuest Petroleum Malaysia Ltd are the proposed Partners.
Production Malaysia Ltd merupakan mitra
yang diusulkan dalam kerja sama tersebut.
vi. Pada tanggal 3 Maret 2026, Perusahaan vi. On March 3, 2026, the Company has
melakukan penarikan sebesar withdrawn Rp700,000,000,000 on the term
Rp700.000.000.000 atas fasilitas kredit term loan facility with PT Bank Rakyat Indonesia
loan dengan PT Bank Rakyat Indonesia (Persero). The Company has also entered into
(Persero) Tbk. Perusahaan juga telah a “Cross Currency Swap” (“CCS”) for the
melakukan transaksi “Pertukaran Mata Uang Rupiah liabilities to US Dollar in which the
Silang” (“Cross Currency Swap”) untuk Company will pay fixed US Dollar interest rate
mengubah kewajiban Rupiah menjadi Dolar and receive fixed Rupiah interest rate.
AS dimana Perusahaan akan membayarkan
suku bunga tetap dalam Dolar AS dan
menerima suku bunga tetap dalam Rupiah.
337
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2025 Management Business Company Corporate
504 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
56. PERISTIWA SETELAH PERIODE PELAPORAN 56. EVENTS AFTER THE REPORTING PERIOD
(lanjutan) (continued)
vii. Pada tanggal 5 Maret 2026, MSBT melakukan vii. On March 5, 2026, MSBT withdrew a loan
penarikan pinjaman sebesar AS$470.244 dari amounting to US$470,244 from PT Bank
PT Bank Negara Indonesia (Persero) Tbk. Negara Indonesia (Persero) Tbk.
viii. Sampai dengan bulan Maret 2026, viii. Up to March 2026, the Company has
Perusahaan telah melakukan Commodity executed Commodity Hedging with total
Hedging dengan total kuantitas 580.000 barrel quantity of 580,000 barrels for the period up to
untuk periode sampai dengan Maret 2027. March 2027.
ix. Pada tanggal 10 Maret 2026, Perusahaan dan ix. On March 10, 2026, the Company and Medco
Medco Energi Global Pte. Ltd. Energi Global Pte. Ltd. signed a credit
menandatangani perjanjian kredit fasilitas term agreement with The Hongkong and Shanghai
loan dengan The Hongkong and Shanghai Banking Corporation Limited, Singapore
Banking Corporation Limited, Singapore Branch for term loan facility of
Branch sebesar AS$100.000.000 dengan US$100,000,000 with 60-month tenor.
jangka waktu 60 bulan.
x. Pada bulan Maret 2026, Grup, melalui x. During March 2026, the Group, through the
Perusahaan, telah melakukan pembelian Company, has bought back Medco Laurel
kembali Senior Notes Medco Laurel Tree Pte. Tree Pte. Ltd. Senior Notes of US$940,000
Ltd. dengan nilai nominal sebesar AS$940.000 from the market.
dari pasar.
xi. Pada bulan Maret 2026, Grup, melalui xi. During March 2026, the Group, through the
Perusahaan telah melakukan pembelian Company, has bought back Medco Cypress
kembali Senior Notes Medco Cypress Tree Tree Pte Ltd. Senior Notes of US$6,497,000
Pte Ltd. dengan nilai nominal sebesar from the market.
AS$6.497.000 dari pasar.
xii. Pada tanggal 27 Maret 2026, Medco Bell Pte. xii. On March 27, 2026, Medco Bell Pte. Ltd. has
Ltd. telah melakukan pelunasan lebih awal conducted early repayment (redemption) of
(penebusan) atas sisa dari seluruh Senior the entire remaining outstanding Senior Notes
Notes dengan jumlah pokok sebesar with principal of US$107,774,000.
AS$107.774.000.
338
Page 507
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 505
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
57. STANDAR AKUNTANSI YANG TELAH 57. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE
EFEKTIF
Standar akuntansi baru dan amandemen standar The new and amended standards that have been
akuntansi yang telah diterbitkan sampai tanggal issued up to the date of issuance of the Group’s
penerbitan laporan keuangan konsolidasian Grup consolidated financial statements, but not yet
namun belum berlaku efektif diungkapkan berikut effective are disclosed below. The management
ini. Manajemen bermaksud untuk menerapkan intends to adopt these standards that are
standar-standar tersebut yang dipertimbangkan considered relevant to the Group when they
relevan terhadap Grup pada saat efektif, dan become effective, and the impact to the
dampaknya terhadap posisi dan kinerja keuangan consolidated financial position and performance of
konsolidasian Grup masih diestimasi pada tanggal the Group is still being estimated as of completion
selesainya laporan keuangan. date of the consolidated financial statements.
Mulai efektif pada atau setelah 1 Januari 2026 Effective beginning on or after January 1, 2026
Amandemen PSAK 109 and PSAK 107: Klasifikasi Amendments to PSAK 109 and PSAK 107:
dan Pengukuran Instrument Keuangan Classification and Measurement of Financial
Instruments
Amandemen tersebut mencakup klarifikasi atas The amendments include a clarification that a
suatu liabilitas keuangan dihentikan pengakuannya financial liability is derecognised on the ‘settlement
pada “tanggal penyelesaian” serta date’ and the introduction of an accounting policy
memperkenalkan pilihan kebijakan akuntansi choice (if specific conditions are met) to
(apabila kondisi tertentu terpenuhi) untuk derecognise financial liabilities settled using an
menghentikan pengakuan liabilitas keuangan yang electronic payment system before the settlement
diselesaikan melalui sistem pembayaran elektronik date. Further, additional guidance is added on how
sebelum tanggal penyelesaian. Selain itu, panduan the contractual cash flows for financial assets with
tambahan ditambahkan mengenai bagaimana arus environmental, social and corporate governance
kas kontraktual untuk aset keuangan dengan fitur (ESG) and similar features should be assessed.
lingkungan, sosial, dan tata kelola perusahaan The amendments also clarify what constitute ‘non-
(ESG) serta fitur serupa harus dinilai. Amandemen recourse features’ and what are the characteristics
tersebut juga mengklarifikasi apa saja yang of contractually linked instruments. The
merupakan fitur non-recourse dan karakteristik amendments also introduce disclosures for financial
instrumen yang terkait secara kontraktual. Selain instruments with contingent features and additional
itu, amandemen tersebut memperkenalkan disclosure requirements for equity instruments
persyaratan pengungkapan untuk instrumen classified at fair value through other comprehensive
keuangan dengan fitur kontinjensi serta persyaratan income (OCI).
pengungkapan tambahan untuk instrumen ekuitas
yang diklasifikasikan pada nilai wajar melalui
penghasilan komprehensif lain (OCI).
Amandemen tersebut berlaku efektif untuk periode The Amendments are effective for annual periods
tahunan yang dimulai pada atau setelah 1 Januari starting on or after January 1, 2026, with early
2026, dengan penerapan dini diperkenankan hanya adoption permitted for classification of financial
untuk klasifikasi aset keuangan dan pengungkapan assets and related disclosures only. The Group
terkait. Grup tidak memperkirakan bahwa does not anticipate that the amendments will have a
amandemen tersebut akan memberikan dampak material effect on the Group’s consolidated financial
material terhadap laporan keuangan konsolidasi statements.
Grup.
339
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2025 Management Business Company Corporate
506 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
57. STANDAR AKUNTANSI YANG TELAH 57. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE (continued)
EFEKTIF (lanjutan)
Mulai efektif pada atau setelah tanggal 1 Januari Effective beginning on or after January 1, 2026
2026 (lanjutan) (continued)
Amandemen PSAK 109 and PSAK 107: Kontrak Amendments to PSAK 109 and PSAK 107:
yang Mengacu Pada Listrik Bergantung Alam Contracts Referencing Nature-dependent Electricity
Amandemen tersebut mengklarifikasi penerapan The amendments clarify the application of the ‘own-
persyaratan own-use untuk kontrak yang berada use’ requirements for in-scope contracts, amend
dalam ruang lingkup, mengubah persyaratan the designation requirements for a hedged item in a
penetapan (designation) atas item yang dilindungi cash flow hedging relationship for in-scope
dalam hubungan lindung nilai arus kas untuk contracts, and add new disclosure requirements to
kontrak-kontrak tersebut, serta menambahkan enable investors to understand the effect of these
persyaratan pengungkapan baru untuk contracts on a company’s financial performance
memungkinkan investor memahami dampak and cash flows.
kontrak tersebut terhadap kinerja keuangan dan
arus kas perusahaan.
Amandemen tersebut akan berlaku efektif untuk The amendments will take effect for annual
periode pelaporan tahunan yang dimulai pada atau reporting periods starting on or after January 1,
setelah 1 Januari 2026. Penerapan dini 2026. Early adoption is allowed, but it must be
diperbolehkan, namun harus diungkapkan. disclosed. The amendments concerning the own-
Amandemen terkait pengecualian own-use use exception are to be applied retrospectively,
diterapkan secara retrospektif, sedangkan while the hedge accounting amendments should be
amandemen akuntansi lindung nilai diterapkan applied prospectively to new hedging relationships
secara prospektif untuk hubungan lindung nilai baru designated from the initial application date.
yang ditetapkan sejak tanggal penerapan awal. Additionally, the PSAK 107 disclosure amendments
Selain itu, amandemen pengungkapan dalam must be implemented alongside the PSAK 109
PSAK 107 harus diterapkan bersamaan dengan amendments. The Group does not anticipate that
amandemen PSAK 109. Grup tidak memperkirakan the amendments will have a material effect on the
bahwa amandemen tersebut akan memberikan Group’s financial statements.
dampak material terhadap laporan keuangan Grup.
PSAK 338: Kombinasi Bisnis Entitas Sepengendali PSAK 338: Business Combination under Common
(Revisi 2025) Control (2025 Revision)
Pada Oktober 2025, DSAK IAI mengesahkan revisi On October 2025, DSAK IAI issued revisions to
atas PSAK 338: Kombinasi Bisnis Entitas PSAK 338: Business Combinations of Entities
Sepengendali. Revisi ini mencakup ruang lingkup Under Common Control. The revisions cover the
dan penerapan dari metode penyatuan kepemilikan scope and application of the pooling of interest
(pooling of interest) dan pelepasan di ekuitas method and disposal in equity as the accounting
(disposal in equity) sebagai konsep akuntansi yang concepts used in PSAK 338. The key changes
digunakan dalam PSAK 338. Perubahan utama include the exclusion of investment entities from the
mencakup pengecualian entitas investasi dari ruang scope of PSAK 338, as well as the addition of
lingkup PSAK 338, serta tambahan definisi bisnis definitions for transferred business, receiving entity,
alihan, entitas penerima, dan entitas pengalih. and transferring entity. The revision also includes
Revisi ini juga mencakup rujukan jumlah tercatat references to the carrying amount of the transferred
bisnis alihan dan penyajian informasi prakombinasi business and the presentation of pre-combination
bisnis ketika terjadi ketidakpraktisan dalam information when applying the pooling of interest
penerapan metode penyatuan kepemilikan. Revisi method is impracticable. The revision is effective on
ini berlaku efektif 1 Januari 2026 dengan opsi January 1, 2026, with early adoption permitted.
penerapan dini.
Grup tidak memperkirakan bahwa amandemen The Group does not anticipate that the
tersebut akan memberikan dampak material amendments will have a material effect on the
terhadap laporan keuangan Grup. Group’s financial statements.
340
Page 509
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 507
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
57. STANDAR AKUNTANSI YANG TELAH 57. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE (continued)
EFEKTIF (lanjutan)
Mulai efektif pada atau setelah 1 Januari 2026 Effective beginning on or after January 1, 2026
(lanjutan) (continued)
Penyesuaian tahunan 2024 Annual Improvements 2024
DSAK IAI menerbitkan Penyesuaian Tahunan 2024 The DSAK IAI issued Annual Improvements 2024 to
SAK Indonesia, yang mencakup klarifikasi, SAK Indonesia, which include clarifications,
penyederhanaan, koreksi, atau perubahan untuk simplifications, corrections or changes to improve
meningkatkan konsistensi dalam PSAK 107 consistency in, PSAK 107 Financial instruments:
Instrumen Keuangan: Pengungkapan, PSAK 109 Disclosure, PSAK 109 Financial Instruments, PSAK
Instrumen Keuangan, PSAK 10 Laporan Keuangan 110 Consolidated Financial Statements and PSAK
Konsolidasian, dan PSAK 207 Laporan Arus Kas. 207 Statements of Cash Flows. The amendments
Amandemen tersebut akan berlaku efektif untuk will be effective for reporting periods beginning on
periode pelaporan yang dimulai pada atau setelah 1 or after January 1, 2026. Earlier application is
Januari 2026. Penerapan lebih awal diperkenankan permitted and must be disclosed. The amendments
dan harus diungkapkan. Amandemen tersebut tidak are not expected to have a material impact on the
diharapkan menimbulkan dampak material Group’s financial statements.
terhadap laporan keuangan Grup.
Mulai efektif pada atau setelah tanggal 1 Januari Effective beginning on or after January 1, 2027
2027
PSAK 118: Penyajian dan Pengungkapan dalam PSAK 118: Presentation and Disclosure in Financial
Laporan Keuangan Statements
PSAK 118 akan menggantikan PSAK 201. Standar PSAK 118 will replace PSAK 201. The new
baru ini memperkenalkan persyaratan baru terkait standard introduces new requirements for
penyajian dalam laporan laba rugi, termasuk total presentation within the statement of profit or loss,
dan subtotal tertentu. Selain itu, entitas diwajibkan including specified totals and subtotals.
untuk mengklasifikasikan seluruh pendapatan dan Furthermore, entities are required to classify all
beban dalam laporan laba rugi ke dalam salah satu income and expenses within the statement of profit
dari lima kategori: operasi, investasi, pendanaan, or loss into one of five categories: operating,
pajak penghasilan, dan operasi yang dihentikan. investing, financing, income taxes and discontinued
operations.
Standar ini juga mensyaratkan pengungkapan The standard requires disclosure of newly defined
ukuran kinerja yang didefinisikan manajemen, management-defined performance measures,
subtotal pendapatan dan beban, serta mencakup subtotals of income and expenses, and it also
persyaratan baru terkait agregasi dan disagregasi includes new requirements for aggregation and
informasi keuangan. disaggregation of financial information.
PSAK 118 berlaku efektif untuk periode pelaporan PSAK 118 are effective for reporting periods
yang dimulai pada atau setelah 1 Januari 2027, beginning on or after January 1, 2027, but earlier
dengan penerapan dini diperkenankan dan harus application is permitted and must be disclosed.
diungkapkan. PSAK 118 akan diterapkan secara PSAK 118 will apply retrospectively.
retrospektif.
341
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2025 Management Business Company Corporate
508 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included herein
are in the Indonesian language.
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
57. STANDAR AKUNTANSI YANG TELAH 57. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE (continued)
EFEKTIF (lanjutan)
Mulai efektif pada atau setelah 1 Januari 2027 Effective beginning on or after January 1, 2027
(lanjutan) (continued)
PSAK 118: Penyajian dan Pengungkapan dalam PSAK 118: Presentation and Disclosure in Financial
Laporan Keuangan (lanjutan) Statements (continued)
Grup saat ini sedang mengidentifikasi seluruh The Group is currently working to identify all
dampak yang akan timbul atas laporan keuangan impacts the amendments will have on the primary
utama dan catatan atas laporan keuangan terkait financial statements and notes to the financial
implementasi amandemen tersebut. statements.
PSAK 119: Entitas Anak Tanpa Akuntabilitas Publik PSAK 119: Subsidiaries without Public
- Pengungkapan Accountability - Disclosures
Standar baru tersebut memungkinkan entitas yang The new standard allows eligible entities to elect to
memenuhi syarat untuk memilih menerapkan apply its reduced disclosure requirements and still
pengungkapan yang lebih singkat dan tetap applying the recognition, measurement and
menerapkan persyaratan pengakuan, pengukuran, presentation requirements in other accounting
dan penyajian dalam standar akuntansi lainnya. standards. To be eligible, at the end of the reporting
Untuk memenuhi syarat, pada akhir periode period, an entity must be a subsidiary as defined in
pelaporan, entitas harus merupakan entitas anak PSAK 110, cannot have public accountability and
sebagaimana didefinisikan dalam PSAK 110, tidak must have a parent (ultimate or intermediate) that
memiliki akuntabilitas publik, dan memiliki entitas prepares consolidated financial statements,
induk (baik entitas induk akhir atau entitas induk available for public use, which comply with SAK
perantara) yang menyusun laporan keuangan Indonesia, SAK Internasional or IFRS accounting
konsolidasian yang tersedia untuk penggunaan standards.
publik dan sesuai dengan standar akuntansi
keuangan SAK Indonesia, SAK Internasional atau
IFRS accounting standards.
PSAK 119 akan berlaku efektif untuk periode PSAK 119 will become effective for reporting
pelaporan yang dimulai pada atau setelah 1 Januari periods beginning on or after January 1, 2027, with
2027, dengan penerapan dini diperkenankan. Grup early application permitted. The Group anticipates
memperkirakan bahwa standar baru tersebut tidak that the new standard will have no material effect
akan memberikan dampak material terhadap on the Group’s financial statements.
laporan keuangan Grup.
58 PERSETUJUAN DAN OTORISASI PENERBITAN 58 APPROVAL AND AUTHORIZATION FOR THE
LAPORAN KEUANGAN KONSOLIDASIAN ISSUANCE OF CONSOLIDATED FINANCIAL
STATEMENTS
Penerbitan laporan keuangan konsolidasian Grup The issuance of the consolidated financial
telah disetujui dan disahkan oleh Direksi pada statements of the Group was approved and
tanggal 1 April 2026. authorized by the Board of Directors on April 1,
2026.
342
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 509
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025
untuk Tahun yang Berakhir and for the Year then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
Berikut ini adalah Informasi Keuangan terpisah The following is separate PT Medco Energi
PT Medco Energi Internasional Tbk (Entitas Induk), Internasional Tbk. (the Parent Entity)’s Financial
terdiri dari laporan posisi keuangan Entitas Induk Information, consisting of the statement of
pada tanggal 31 Desember 2025 dan laporan laba financial position of the Parent Entity as of
rugi dan penghasilan komprehensif lain, laporan December 31, 2025 and statements of profit or
perubahan ekuitas dan arus kas Entitas Induk terkait loss and other comprehensive income, changes in
untuk tahun yang berakhir 31 Desember 2025 dan equity and cash flows of the Parent Entity for the
ikhtisar kebijakan akuntansi signifikan. Informasi year ended December 31, 2025 and a summary
Keuangan Entitas Induk disajikan sebagai informasi of significant accounting policies. The Parent
tambahan terhadap laporan keuangan konsolidasian Entity’s Financial Information is presented as
Grup pada tanggal 31 Desember 2025 dan untuk supplementary information to the consolidated
tahun yang berakhir pada tanggal tersebut. financial statements of the Group as of
December 31, 2025 and for the year then ended.
LAPORAN POSISI KEUANGAN STATEMENT OF FINANCIAL POSITION
2025 2024
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 155.717.397 110.529.574 Cash and cash equivalents
Investasi jangka pendek - 12.395.524 Short-term investments
Piutang lain-lain Other receivables
- Pihak berelasi 360.430 197.805 Related parties -
- Pihak ketiga 3.278.093 5.405.806 Third parties -
Pajak dibayar di muka 198.417 660.378 Prepaid taxes
Biaya dibayar di muka 151.424 287.582 Prepaid expenses
Investasi pada saham - 45.800.448 Investment in shares
Aset lancar lain-lain 493.674 17.890 Other current assets
Jumlah Aset Lancar 160.199.435 175.295.007 Total Current Assets
ASET TIDAK LANCAR NON-CURRENT ASSETS
Piutang lain-lain Other receivables
- Pihak berelasi 9.111.299.091 6.719.390.672 Related parties -
- Pihak ketiga 307.205 347.456 Third parties -
Estimasi pengembalian pajak 74.052 29.804 Estimated claim for tax refunds
Aset pajak tangguhan - 8.555.480 Deferred tax assets
Investasi pada saham 1.050.635.978 1.143.173.087 Investment in shares
Aset tetap 6.247.311 8.773.070 Property, plant and equipment
Aset hak guna 3.636.777 4.802.183 Right-of-use assets
Aset derivatif 1.144.254 346.182 Derivative assets
Jumlah Aset Tidak Lancar 10.173.344.668 7.885.417.934 Total Non-current Assets
JUMLAH ASET 10.333.544.103 8.060.712.941 TOTAL ASSETS
343
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2025 Management Business Company Corporate
510 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
LAPORAN POSISI KEUANGAN (lanjutan) STATEMENT OF FINANCIAL POSITION
(continued)
2025 2024
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Utang lain-lain Other payables
- Pihak berelasi 6.175.608.524 5.591.126.277 Related parties -
- Pihak ketiga 2.792.031 2.024.077 Third parties -
Utang pajak 3.670.278 3.451.333 Taxes payable
Biaya akrual dan provisi lain-lain 34.846.329 40.257.818 Accrued expenses and other provisions
Liabilitas derivatif 6.606.096 12.653.816 Derivative liabilities
Liabilitas jangka panjang yang Current maturities of long-term
jatuh tempo dalam satu tahun debts
- Pinjaman bank 100.198.561 62.262.681 Bank loans -
- Obligasi Rupiah 47.702.802 146.468.410 Rupiah bonds -
- Liabilitas sewa 1.083.402 1.056.612 Lease liabilities -
Jumlah Liabilitas Jangka Pendek 6.372.508.023 5.859.301.024 Total Current Liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Liabilitas jangka panjang setelah
dikurangi bagian yang Long-term liabilities
jatuh tempo dalam satu tahun - net of current maturities
- Pinjaman bank 741.740.777 539.837.398 Bank loans -
- Obligasi Rupiah 412.841.637 262.661.781 Rupiah bonds -
- Liabilitas sewa 2.526.880 3.748.778 Lease liabilities -
Liabilitas kontrak Contract liabilities
Utang lain-lain Other payables
pihak berelasi 1.681.213.237 120.604.470 related parties
Liabilitas derivatif 45.910.312 30.742.102 Derivative liabilities
Liabilitas pajak tangguhan 1.280.643 16.911.951 Deferred tax liabilities
Liabilitas imbalan kerja 18.070.352 16.173.009 Employee benefits liabilities
Jumlah Liabilitas Jangka Panjang 2.903.583.838 990.679.489 Total Non-current Liabilities
Jumlah Liabilitas 9.276.091.861 6.849.980.513 Total Liabilities
344
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 511
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
LAPORAN POSISI KEUANGAN (lanjutan) STATEMENT OF FINANCIAL POSITION
(continued)
2025 2024
LIABILITAS DAN EKUITAS (lanjutan) LIABILITIES AND EQUITY (continued)
EKUITAS EQUITY
Modal saham – nilai nominal Capital stock – par value
Rp25 per saham Rp25 par value per share
- Modal dasar Authorized -
55.000.000.000 saham
pada tanggal 31 Desember 2025 55,000,000,000 shares
dan 2024 as of December 31, 2025 and 2024
- Diterbitkan dan disetor penuh Issued and fully paid -
25.136.231.252 saham
pada tanggal 31 Desember 2025 25,136,231,252 shares
dan 2024 121.798.946 121.798.946 as of December 31, 2025 and 2024
- Saham treasuri Treasury shares -
455.609.908 saham 455,609,908 shares
pada tanggal 31 Desember 2025 as of December 31, 2025
dan 71.453.088 saham and 71,453,088 shares
pada tanggal 31 Desember 2024 (2.207.682 ) (346.230) as of December 31, 2024
Tambahan modal disetor 398.182.114 510.662.262 Additional paid-in capital
Penyesuaian nilai wajar
atas instrument lindung nilai Fair value adjustments on
arus kas 19.858.719 (884.563) cash flow hedging instruments
Pengukuran kembali Remeasurement of defined
program imbalan pasti 1.626.692 (784.290) benefit program
Saldo laba 518.193.453 580.286.303 Retained earnings
Jumlah Ekuitas 1.057.452.242 1.210.732.428 Total Equity
JUMLAH LIABILITAS DAN EKUITAS 10.333.544.103 8.060.712.941 TOTAL LIABILITIES AND EQUITY
345
Page 514
2025 Management Business Company Corporate
512 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
1
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
LAPORAN LABA RUGI DAN PENGHASILAN STATEMENT OF PROFIT OR LOSS AND
KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
2025 2024
PENDAPATAN DAN BEBAN REVENUES AND EXPENSES
Pendapatan dari jasa 24.471.988 25.183.457 Revenue from services
Beban penjualan, umum Selling, general and
dan administrasi (74.999.434) (79.376.273) administrative expenses
Pendapatan keuangan 7.781.251 5.612.760 Finance income
Beban pendanaan (75.163.736) (56.263.552) Finance expense
Penerimaan dividen 76.991.200 157.670.668 Dividend income
Penjualan atas Sale of
investasi pada saham 69.856.552 - investment in shares
Pendapatan lain-lain 8.877.268 36.219.053 Other income
Beban lain-lain (26.867.839) (21.872.215) Other expenses
LABA SEBELUM PAJAK PROFIT BEFORE
PENGHASILAN 10.947.250 67.173.898 INCOME TAX EXPENSE
MANFAAT PAJAK PENGHASILAN 7.075.828 5.944.275 INCOME TAX BENEFIT
LABA TAHUN BERJALAN 18.023.078 73.118.173 PROFIT FOR THE YEAR
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE
LAIN YANG AKAN INCOME THAT WILL BE
DIREKLASIFIKASI KE RECLASSIFIED TO
LABA RUGI PROFIT OR LOSS
Penyesuaian nilai wajar atas Fair value adjustment on
instrument lindung nilai arus kas 20.743.282 (5.079.792) cash flow hedging instruments
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE
LAIN YANG TIDAK AKAN INCOME THAT WILL NOT BE
DIREKLASIFIKASI KE RECLASSIFIED TO
LABA RUGI PROFIT OR LOSS
Pengukuran kembali Remeasurement of defined
program imbalan kerja 2.410.982 (3.492.261) benefit program
JUMLAH LABA TOTAL OTHER COMPREHENSIVE
KOMPREHENSIF LAIN INCOME)
TAHUN BERJALAN 41.177.342 64.546.120 FOR THE YEAR
346
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PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 513
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK (lanjutan) 59. PARENT ENTITY FINANCIAL INFORMATION (continued)
LAPORAN PERUBAHAN EKUITAS STATEMENT OF CHANGES IN EQUITY
Penyesuaian Nilai
Wajar atas Instrumen Pengukuran
Lindung Nilai Arus Kembali Program
Tambahan Modal Kas/ Imbalan Pasti/
Disetor/ Fair Value Adjustment Remeasurement of
Modal Saham/ Saham Treasuri/ Additional Paid in Saldo Laba/ on Cash Flow Hedging Defined Benefit Jumlah/
Capital Stock Treasury Stock Capital Retained Earnings Instrument Program Total
Saldo per 31 Desember 2023/
121.798.946 (517.173) 508.825.389 577.405.260 4.195.229 2.707.971 1.214.415.622
Balance, December 31,2023
Laba tahun berjalan/
- - - 73.118.173 - - 73.118.173
Profit for the year
Penghasilan komprehensif lain/
(5.079.792) (3.492.261) (8.572.053)
Other Comprehensive Income - - - -
Jumlah penghasilan komprehensif tahun berjalan/
- - - 73.118.173 (5.079.792) (3.492.261) 64.546.120
Total Comprehensive Income
Dividend Kas/
- - - (70.237.130) - - (70.237.130)
Cash Dividend
Pembayaran berbasis saham/
- 497.777 6.802.261 - - - 7.300.038
Share-based payments
Pembelian kembali saham/
- (326.834) (4.965.388) - - - (5.292.222)
Shares buyback
Saldo per 31 Desember 2024/
121.798.946 (346.230) 510.662.262 580.286.303 (884.563) (784.290) 1.210.732.428
Balance, December 31, 2024
Laba tahun berjalan/
- - - 18.023.078 - - 18.023.078
Profit for the year
Penghasilan komprehensif lain/
- - - - 20.743.282 2.410.982 23.154.264
Other Comprehensive Income
Jumlah penghasilan komprehensif tahun berjalan/
18.023.078 20.743.282 2.410.982 41.177.342
Total Comprehensive Income
Dividend Kas/
- - - (80.115.928) - - (80.115.928)
Cash Dividend
Pelepasan entitas anak
- - - - - - -
Disposal of Subsidiaries
Selisih transaksi dengan entitas sepengendali/
- - (91.093.559) - - - (91.093.559)
Difference in transation under common control
Pembayaran berbasis saham/
- - - - 6.124.263
Share-based payments 393.625 5.730.638
Pembelian kembali saham/ - - - -
(2.255.077) (27.117.227) (29.372.304)
Shares buyback
Saldo per 31 Desember 2025/
121.798.946 (2.207.682) 398.182.114 518.193.453 19.858.719 1.626.692 1.057.452.242
Balance, December 31,2025
347
Page 516
2025 Management Business Company Corporate
514 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
Tahun yang Berakhir
pada Tanggal 31 Desember/
Year Ended December 31,
2025 2024
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS OPERASI OPERATING ACTIVITIES
Penerimaan (pembayaran) kas
kepada pemasok Cash received (paid) to suppliers
dan karyawan (154.977.163) 45.405.750 and employees
Kas neto diperoleh (digunakan) Net cash provided by (used in)
untuk dari aktivitas operasi (154.977.163) 46.405.750 operating activities
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS INVESTASI INVESTING ACTIVITIES
Penerimaan dari pencairan Proceeds from redemption of
investasi jangka pendek 8.500.000 - short-term investment
Pengurangan (penambahan) pada Deduction (addition) of
Investasi pada saham 208.190.565 (118.714.127) investment in shares
Penambahan (pengurang) Addition (deduction)
aset lain-lain (476.943) 279 to other asset
Acquisition of property,
Perolehan aset tetap (656.998) (610.960) plant and equipment
Penerimaan (penambahan) piutang Receipt of (additions) other
lain-lain dari pihak berelasi (2.688.148) 659.324 receivables from related parties
Penerimaan bunga 7.291.748 5.177.889 Interest received
Kas neto diperoleh dari
(digunakan) untuk Net cash provided by
aktivitas investasi 220.160.224 (113.487.595) (used in) investing activities
348
Page 517
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 515
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
LAPORAN ARUS KAS (lanjutan) STATEMENT OF CASH FLOWS (continued)
Tahun yang Berakhir
pada Tanggal 31 Desember/
Year Ended December 31,
2025 2024
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS PENDANAAN FINANCING ACTIVITIES
Hasil yang diperoleh dari: Proceeds from:
- Pinjaman bank 481.313.203 289.345.560 Bank loans -
- Pinjaman jangka panjang lainnya 215.475.053 96.079.939 Other long-term debt -
Pembelian saham treasuri (29.372.305) (5.292.222) Purchase of treasury shares
Pembelian obligasi treasuri (71.934.788) (49.612.669) Purchase of treasury bonds
Pembayaran beban pendanaan (71.597.695) (51.490.219) Payment of financing charges
Penyelesaian liabilitas derivatif (18.156.833) (18.527.910) Settlement of derivative liability
Pembayaran atas: Payments of:
- Pinjaman bank (210.371.904) (163.164.533) Bank loans -
- Utang jangka panjang lainnya (145.479.895) (85.475.694) Other long-term debt -
Pembayaran dividen kas (80.115.928) (70.237.130) Payment of cash dividend
Penerimaan (pembayaran untuk) Received (payment for) related
transaksi pihak berelasi (88.470.504) 210.513.563 party transaction
Kas neto diperoleh dari
(digunakan) untuk Net cash provided by
aktivitas pendanaan (18.711.596) 152.138.685 (used in) financing activities
KENAIKAN NET INCREASE IN
NETO KAS DAN SETARA KAS CASH AND CASH EQUIVALENT
DARI OPERASI 46.471.465 85.056.840 FROM CONTINUING OPERATIONS
NET FOREIGN EXCHANGE
PERBEDAAN NILAI TUKAR NETO (1.283.642) (209.555) DIFFERENCE
KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS
AWAL TAHUN 110.529.574 25.682.289 AT BEGINNING OF YEAR
KAS DAN SETARA KAS PADA CASH AND CASH EQUIVALENTS
AKHIR TAHUN 155.717.397 110.529.574 AT END OF YEAR
349
Page 518
2025 Management Business Company Corporate
516 Overview Performance Discussion & Analysis Activities Profile Sustainability Governance Attachments
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
a. Dasar Penyusunan Laporan Keuangan a. Basis Preparation of Separated Financial
Tersendiri Statements
Laporan keuangan tersendiri entitas induk The separate financial statements of parent
disusun sesuai dengan PSAK 227, Laporan entity are prepared in accordance with the
Keuangan Tersendiri. PSAK 227, separate Financial Statements.
PSAK 227 mengatur dalam hal entitas induk PSAK 227 regulates that when a parent entity
memilih untuk menyajikan laporan keuangan chose to present the separate financial
tersendiri maka laporan tersebut hanya dapat statements, such financial statements should
disajikan sebagai informasi tambahan dalam only be presented as supplementary
laporan keuangan konsolidasian. Laporan information to the consolidated financial
keuangan tersendiri adalah laporan keuangan statements. Separate financial statements
yang disajikan oleh entitas induk yang mencatat are those presented by a parent, in which the
investasi pada entitas anak, entitas asosiasi, investments in the subsidiaries, associate
dan pengendalian bersama entitas berdasarkan and jointly controlled entity are accounted for
kepemilikan ekuitas langsung bukan on the basis of the direct equity interest rather
berdasarkan pelaporan hasil dan aset neto than on the basis of the reported results and
investees. net assets of the investees.
PSAK 227 memperkenankan (i) metode biaya PSAK 227 allows the use of (i) the cost
perolehan, (ii) sesuai PSAK 109 – Instrumen method, (ii) in accordance with PSAK 109 –
Keuangan, atau (iii) metode ekuitas sebagai Financial Instrument, or (iii) equity method to
metode pencatatan investasi pada entitas anak, record the investment in subsidiaries, joint
ventura bersama, dan entitas asosiasi dalam ventures, and associates in the separate
laporan keuangan tersendiri. Perusahaan financial statements. The Company
menerapkan metode biaya perolehan dalam implemented cost method in the financial
laporan keuangan entitas induk saja pada statements of the parent entity only as at and
tanggal dan tahun-tahun yang berakhir for the years ended December 31, 2025 and
31 Desember 2025 dan 2024. 2025.
Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the
Perusahaan dalam penyusunan laporan Company in the preparation of the parent
keuangan entitas induk adalah sama dengan entity financial statements are the same as
kebijakan akuntansi yang diterapkan dalam the accounting policies adopted in the
penyusunan laporan keuangan konsolidasian preparation of the consolidated financial
sebagaimana diungkapkan dalam Catatan 2 statements as disclosed in Note 2 to the
atas laporan keuangan konsolidasian, kecuali consolidated financial statements, except for
untuk investasi pada entitas anak. Investasi investment in subsidiaries. Investment in
pada entitas anak dicatat pada biaya perolehan. subsidiaries is accounted for at acquisition
Entitas induk mengakui dividen dari entitas anak cost. The parent entity recognizes dividends
sebagai laba rugi dalam laporan keuangan from subsidiaries in profit or loss in its
tersendiri ketika hak menerima dividen separate financial statements when its right
ditetapkan. to receive the dividend is established.
350
Page 519
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 517
The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
b. Penyertaan saham pada entitas anak dan b. Investments in shares of subsidiaries and
entitas asosiasi associates
Pada tanggal-tanggal 31 Desember 2025 dan As of December 31, 2025 and 2024, the
2024, entitas induk memiliki penyertaan parent entity has the following investment in
saham pada entitas anak dan entitas asosiasi shares of subsidiaries and associates:
sebagai berikut:
2025
Persentase Nilai tercatat Nilai Tercatat
kepemilikan/ 1 Jan. 2025/ 31 Des.2025/
Nama Entitas/ Percentage of Carrying value Penambahan/ Pengurangan/ Carrying value
Entity Name ownership Jan. 1, 2025 Additions Deduction Dec. 31, 2025
Entitas Anak/Subsidiaries
PT Medco Power Internasional 99,99% 166.917.835 - - 166.917.835
PT Medco Power Indonesia 49% 143.680.645 - - 143.680.645
PT Medco Downstream Indonesia 99,90% 80.198.162 - - 80.198.162
PT Medco E & P Indonesia 99,99% 77.719.020 - - 77.719.020
PT Medco LNG Indonesia 99,99% 53.972.090 - - 53.972.090
PT Medco E & P Nunukan 99,99% 38.491.964 - - 38.491.964
Medco Indonesia Holdings BV 100% 27.335.858 - - 27.335.858
Medco Far East Ltd 100% 26.323.608 - - 26.323.608
PT Medco Energi Bangkanai 99,90% 24.343.746 - - 24.343.746
PT Medco E & P Bangkanai 99,99% 7.349.035 - - 7.349.035
PT Medco Ethanol Lampung 99,99% 5.639.354 - - 5.639.354
PT Medco E & P Tarakan 99,99% 4.791.728 - - 4.791.728
PT Mitra Energi Gas Sumatera 99,99% 2.869.455 - - 2.869.455
PT Medco E& P Tomori Sulawesi 99,95% 2.767.653 - - 2.767.653
PT Medco Sarana Balaraja 99,99% 2.542.175 - - 2.542.175
PT Medco E & P Bengara 95% 1.600.000 - - 1.600.000
PT Medco Energi Natuna Timur 99,99% 1.291.093 - - 1.291.093
PT Medco Energi Jwala
(dahulu/formerly PT Medco Energi Belida) 99,99% 1.245.293 - - 1.245.293
PT Medco LPG Kaji 99,99% 840.000 - - 840.000
PT Medco E & P Beluga 99,99% 810.570 - - 810.570
PT Medco Energi Amanah
(dahulu/formerly PT Medco Power Generation
Indonesia) 99,99% 786.387 - - 786.387
PT Medco Energi Linggau 99,90% 260.695 - - 260.695
PT Medco E & P Lematang 99,99% 118.122 - - 118.122
PT Medco Sampang Indonesia
(dahulu/formerly PT Medco Niaga Internasional) 99,90% 111.235 - - 111.235
PT Medco Energi CBM Indonesia 99,99% 102.463 - (10) 102.453
PT Medco E & P Simenggaris 99,90% 101.524 - - 101.524
PT Medco Energi Madura 99,90% 70.199 - - 70.199
PT Medco E & P Sembakung 99,75% 65.491 - - 65.491
PT Medco Energi Nusantara 99,99% 29.295 - - 29.295
PT Medco E & P Malaka 99% 27.263 - - 27.263
PT Medco E & P Rimau 99,99% 24.575 - - 24.575
PT Medco Methanol Bunyu 99,99% 743 - - 743
Medco Straits Services Pte Ltd 100% 1 - - 1
Medco Simenggaris Pty Ltd 100% 1 - - 1
PT Exspan Petrogas Intranusa 99,99% 92.533.565 - (92.533.565) -
PT Bangkanai LNG Indonesia
(dahulu/Formerly PT Medco Energi Sampang) 99,90% 3.534 - (3.534) -
Entitas Asosiasi/Associates
PT Amman Mineral Internasional Tbk. (AMI) 20,92% 343.159.524 - - 343.159.524
PT Api Metra Graha (AMG) 48,32% 129.764.608 - - 129.764.608
PT Sumber Mineral Citra Nusantara (SMCN) 18% 45.800.448 - (45.800.448) -
Jumlah/Total 1.283.688.957 - (138.337.557) 1.145.351.400
Cadangan penurunan nilai penyertaan/
Allowance for decline in value of investment (94.715.422) - - (94.715.422)
Neto/Net 1.188.973.535 - (138.337.557) 1.050.635.978
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The original consolidated financial statements included
herein are in the Indonesian language
PT MEDCO ENERGI INTERNASIONAL Tbk PT MEDCO ENERGI INTERNASIONAL Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN NOTES TO THE CONSOLIDATED
KEUANGAN KONSOLIDASIAN FINANCIAL STATEMENTS
Tanggal 31 Desember 2025 dan As of December 31, 2025 and
untuk Tahun yang Berakhir for the Year Then Ended
pada Tanggal Tersebut (Expressed in United States Dollar,
(Disajikan dalam Dolar Amerika Serikat, unless otherwise stated)
kecuali dinyatakan lain)
59. INFORMASI KEUANGAN ENTITAS INDUK 59. PARENT ENTITY FINANCIAL INFORMATION
(lanjutan) (continued)
b. Penyertaan saham pada entitas anak dan b. Investments in shares of subsidiaries and
entitas asosiasi (lanjutan) associates (continued)
2024
Persentase Nilai tercatat Nilai Tercatat
kepemilikan/ 1 Jan. 2024/ 31 Des.2024/
Nama Entitas/ Percentage of Carrying value Penambahan/ Pengurangan/ Carrying value
Entity Name ownership Jan. 1, 2024 Additions Deduction Dec. 31, 2024
Entitas Anak/Subsidiaries
PT Medco Power Internasional 99.99% 166.917.835 - - 166.917.835
PT Medco Power Indonesia 49% 143.680.645 - - 143.680.645
PT Exspan Petrogas Intranusa 99,99% 89.476.438 3.057.127 92.533.565
PT Medco Downstream Indonesia 99,90% 80.198.162 - - 80.198.162
PT Medco E & P Indonesia 99,99% 77.719.020 - - 77.719.020
PT Medco LNG Indonesia 99,99% 53.972.090 - - 53.972.090
PT Medco E & P Nunukan 99,99% 38.611.371 - (119.407) 38.491.964
Medco Indonesia Holdings BV 100% 27.335.858 - - 27.335.858
Medco Far East Ltd 100% 26.323.608 - - 26.323.608
PT Medco Energi Bangkanai 99,90% 24.343.746 - - 24.343.746
PT Medco E & P Bangkanai 99,99% 27.108 7.321.927 - 7.349.035
PT Medco Ethanol Lampung 99,99% 5.639.354 - - 5.639.354
PT Medco E& P Tarakan 99,99% 4.791.728 - - 4.791.728
PT Mitra Energi Gas Sumatera 99,99% 2.869.455 - - 2.869.455
PT Medco E& P Tomori Sulawesi 99,95% 2.767.653 - - 2.767.653
PT Medco Sarana Balaraja 99,99% 2.542.175 - - 2.542.175
PT Medco E & P Bengara 95% 1.600.000 - - 1.600.000
PT Medco Energi Natuna Timur 99,99% 1.291.093 - - 1.291.093
PT Medco Energi Jwala
(dahulu/formerly PT Medco Energi Belida) 99,99% 70.796 1.174.497 - 1.245.293
PT Medco LPG Kaji 99,99% 840.000 - - 840.000
PT Medco E & P Beluga 99,99% 810.570 - - 810.570
PT Medco Energi Amanah
(dahulu/formerly PT Medco Power Generation
Indonesia) 99,99% 109.698 676.689 - 786.387
PT Medco Energi Linggau 99,90% 260.695 - - 260.695
PT Medco E& P Lematang 99,99% 118.122 - - 118.122
PT Medco Sampang Indonesia
(dahulu/formerly PT Medco Niaga Internasional) 99,90% 111.235 - - 111.235
PT Medco Energi CBM Indonesia 99,99% 102.463 - - 102.463
PT Medco E&P Simenggaris 99,90% 101.524 - - 101.524
PT Medco Energi Madura 99,90% 70.199 - - 70.199
PT Medco E & P Sembakung 99,75% 101.783 - (36.292) 65.491
PT Medco Energi Nusantara 99,99% 29.295 - - 29.295
PT Medco E & P Malaka 99% 27.263 - - 27.263
PT Medco E& P Rimau 99,99% 24.575 - - 24.575
PT Bangkanai LNG Indonesia
(dahulu/formerly PT Medco Energi Sampang) 99,90% 3.534 - - 3.534
PT Medco Methanol Bunyu 99,99% 743 - - 743
Medco Straits Services Pte Ltd 100% 1 - - 1
Medco Simenggaris Pty Ltd 100% 1 - - 1
Entitas Asosiasi/Associates
PT Amman Mineral Internasional Tbk. (AMI) 20,92% 343.159.524 - - 343.159.524
PT Api Metra Graha (AMG) 48,32% 129.764.608 - - 129.764.608
PT Sumber Mineral Citra Nusantara (SMCN) 18% 45.800.448 - - 45.800.448
Jumlah/Total 1.271.614.416 12.230.240 (155.699) 1.283.688.957
Cadangan penurunan nilai penyertaan/
Allowance for decline in value of investment (94.715.422) - (94.715.422)
Neto/Net 1.176.898.994 12.230.240 (155.699) 1.188.973.535
352
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PT MEDCO ENERGI INTERNASIONAL TBK DAN ENTITAS ANAKNYA PT MEDCO ENERGI INTERNASIONAL TBK AND ITS SUBSIDIARIES
INFORMASI TAMBAHAN SUPPLEMENTARY INFORMATION
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN RESERVES ESTIMATION
Informasi berikut mengenai kuantitas cadangan yang proved developed, undeveloped The following information on proved developed, undeveloped and probable reserves
dan probable reserves quantities serta sumber daya kontinjen hanya merupakan quantities as well as contingent resources are estimates only, and do not purport to
estimasi, dan tidak dimaksudkan untuk menggambarkan nilai yang dapat direalisasikan reflect realizable values or fair market values of the Group’s reserves. The Group
atau nilai pasar yang wajar dari cadangan Grup. Grup menekankan bahwa estimasi emphasizes that reserves estimates are inherently imprecise. Accordingly, these
cadangan secara bawaan tidak akurat. Sehubungan dengan hal tersebut, estimasi ini estimates are expected to change as future information becomes available. There are
diharapkan dapat saja berubah bila tersedia informasi baru dikemudian hari. Terdapat numerous uncertainties inherent in estimating oil and natural gas reserves, including
berbagai ketidakpastian bawaan dalam mengestimasi cadangan minyak dan gas bumi, many factors beyond the control of the Group.
termasuk faktor-faktor yang berada di luar kendali Grup.
Informasi berikut atas kuantitas cadangan dan sumber daya diestimasi baik oleh The following information on the Group’s reserves and resources quantities are
tenaga ahli internal Grup, atau konsultan perminyakan independen yaitu Netherland, estimated either by the internal Group’s engineers, or by an independent petroleum
Sewell & Associates, Inc. (NSAI), Gaffney, Cline and Associates (GCA), ERC Equipoise engineering consultants, i.e., Netherland, Sewell & Associates, Inc. (NSAI), Gaffney,
Ltd (ERCE), McDaniel & Associates Consultants Ltd dan DeGolyer and MacNaughton Cline and Associates (GCA), ERC Equipoise Ltd (ERCE), McDaniel & Associates
(DNM) ataupun berdasarkan estimasi oleh masing-masing operator blok. Prinsip teknik Consultants Ltd and DeGolyer and MacNaughton (DNM) or based on estimates by the
perminyakan dan definisi yang berlaku di industri atas kategori dan sub-klasifikasi operators of the respective blocks. Generally accepted petroleum engineering
cadangan proved dan probable serta sumber daya kontinjen dipergunakan dalam principles and definitions applied by the industry to proved and probable reserves
penyusunan pengungkapan cadangan dan sumber daya. categories and subclassifications as well as contingent resources were utilized in
preparing the reserves and resources disclosures.
Manajemen berpendapat bahwa kuantitas cadangan di bawah ini merupakan estimasi Management believes that the reserves quantities shown below are reasonable
yang wajar berdasarkan data geologi dan teknik yang tersedia. estimates based on available geological and engineering data.
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PT MEDCO ENERGI INTERNASIONAL TBK DAN ENTITAS ANAKNYA PT MEDCO ENERGI INTERNASIONAL TBK AND ITS SUBSIDIARIES
INFORMASI TAMBAHAN (lanjutan) SUPPLEMENTARY INFORMATION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN (lanjutan) RESERVES ESTIMATION (continued)
Aset di Indonesia/ Aset Internasional/ Jumlah/
Indonesian Assets International Assets (3) Total
Wilayah Timur dan Tengah/
Wilayah Barat/West (1) East and Central (2)
Minyak dan Gas/
Minyak/Oil Gas Minyak/Oil Gas Minyak/Oil Gas Minyak/Oil Gas Oil and Gas
mbbls mmscf mbbls mmscf mmbls mmscf mmbls mmscf mboe
Grup Cadangan Proved/
Group Proved Reserves
Saldo akhir 31 Desember 2023/
Ending balance December 31, 2023 20.168 693.433 14.281 640.701 84.878 75.002 119.327 1.409.136 380.683
Penemuan dan pengembangan/
Discoveries and extensions – – – – – – – – –
Revisi/Revisions (4) 8.517 60.047 1.159 223.978 3.815 11.828 13.491 295.853 68.264
Akuisisi dan divestasi/
Acquisition and divestments (5) – – – – (41.749) (35.836) (41.749) (35.836) (47.727)
Produksi/Production 4.360 145.572 1.161 49.583 6.005 1.345 11.526 196.500 47.542
Saldo akhir 31 Desember 2024/
Ending balance December 31, 2024 24.325 607.908 14.279 815.096 40.939 49.649 79.543 1.472.653 353.678
Penemuan dan pengembangan/
Discoveries and extensions – – – – – – – – –
Revisi/Revisions (4) 2.193 97.383 282 (39.536) 11.541 (1.196) 14.016 56.651 24.227
Akuisisi dan divestasi/
Acquisition and divestments (5) 1.623 311.555 – – – – 1.623 311.555 56.558
Produksi/Production 5.182 148.224 1.205 47.499 6.247 1.948 12.634 197.671 48.917
Sub-total 22.959 868.622 13.356 728.061 46.233 46.505 82.548 1.643.188 385.546
Aset dimiliki untuk dijual/
Held for sale (6) – – (12) 822 – – (12) 822 130
Saldo akhir 31 Desember 2025/
Ending balance December 31, 2025 22.959 868.622 13.344 728.883 46.233 46.505 82.536 1.644.010 385.676
354
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INFORMASI TAMBAHAN (lanjutan) SUPPLEMENTARY INFORMATION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN (lanjutan) RESERVES ESTIMATION (continued)
Aset di Indonesia/ Aset Internasional/ Jumlah/
Indonesian Assets International Assets (3) Total
Wilayah Timur dan Tengah/
Wilayah Barat/West (1) East and Central (2)
Minyak dan Gas/
Minyak/Oil Gas Minyak/Oil Gas Minyak/Oil Gas Minyak/Oil Gas Oil and Gas
mbbls mmscf mbbls mmscf mmbls mmscf mmbls mmscf mboe
Grup Proved dan Probable/
Group Proved and Probable
Saldo akhir 31 Desember 2023/
Ending balance December 31, 2023 31.933 1.003.627 20.378 803.908 131.891 106.647 184.202 1.914.182 538.828
Penemuan dan pengembangan/
Discoveries and extensions – – – – – – – – –
Revisi/Revisions (4) 2.194 25.891 2.799 313.491 4.106 18.074 9.099 357.456 76.080
Akuisisi dan divestasi/
Acquisition and divestments (5) – – – – (64.350) (57.338) (64.350) (57.338) (73.927)
Produksi/Production 4.360 145.572 1.161 49.583 6.005 1.345 11.526 196.500 47.542
Saldo akhir 31 Desember 2024/
Ending balance December 31, 2024 29.767 883.946 22.016 1.067.816 65.642 66.038 117.425 2.017.800 493.439
Penemuan dan pengembangan/
Discoveries and extensions – – – – – – – – –
Revisi/Revisions (4) 6.107 118.651 463 (11.177) 9.811 (3.638) 16.381 103.836 35.192
Akuisisi dan divestasi/
Acquisition and divestments (5) 2.359 466.175 – – – – 2.359 466.175 84.544
Produksi/Production 5.182 148.224 1.205 47.499 6.247 1.948 12.634 197.671 48.917
Sub-total 33.051 1.320.548 21.274 1.009.140 69.206 60.452 123.531 2.390.140 564.258
Aset dimiliki untuk dijual/
Held for sale (6) – – (12) (2.647) – – (12) (2.647) (471)
Saldo akhir 31 Desember 2025/
Ending balance December 31, 2025 33.051 1.320.548 21.262 1.006.493 69.206 60.452 123.519 2.387.493 563.787
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PT MEDCO ENERGI INTERNASIONAL TBK DAN ENTITAS ANAKNYA PT MEDCO ENERGI INTERNASIONAL TBK AND ITS SUBSIDIARIES
INFORMASI TAMBAHAN (lanjutan) SUPPLEMENTARY INFORMATION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN (lanjutan) RESERVES ESTIMATION (continued)
Aset di Indonesia/ Aset Internasional/ Jumlah/
Indonesian Assets International Assets (3) Total
Wilayah Timur dan Tengah/
Wilayah Barat/West (1) East and Central (2)
Minyak dan Gas/
Minyak/Oil Gas Minyak/Oil Gas Minyak/Oil Gas Minyak/Oil Gas Oil and Gas
mbbls mmscf mbbls mmscf mmbls mmscf mmbls mmscf mboe
Grup Sumber Daya Kontinjen/
Group Contingent Resources
Saldo akhir 31 Desember 2023/
Ending balance December 31, 2023 41.007 1.291.530 9.135 710.917 74.098 3.198.531 124.240 5.200.978 1.041.022
Penemuan dan pengembangan/
Discoveries and extensions – – – – – – – – –
Revisi/Revisions (4) (2.459) (36.364) (2.857) (384.220) (2.118) – (7.434) (420.584) (83.860)
Akuisisi dan divestasi/
Acquisition and divestments (5) – – – – (43.995) (103.822) (43.995) (103.822) (61.299)
Produksi/Production – – – – – – – – –
Saldo akhir 31 Desember 2024/
Ending balance December 31, 2024 38.548 1.255.166 6.278 326.697 27.985 3.094.709 72.811 4.676.572 895.863
Penemuan dan pengembangan/
Discoveries and extensions – – – – – – – – –
Revisi/Revisions (4) (7.806) (44.638) 11.673 657.338 (13.579) 10.349 (9.712) 623.049 104.538
Akuisisi dan divestasi/
Acquisition and divestments (5) 2.482 883.467 – – – – 2.482 883.467 153.488
Produksi/Production – – – – – – – – –
Sub-total 33.224 2.093.995 17.951 984.035 14.406 3.105.058 65.581 6.183.088 1.153.889
Aset dimiliki untuk dijual/
Held for sale (6) — — — — — — — — —
Saldo akhir 31 Desember 2025/
Ending balance December 31, 2025 33.224 2.093.995 17.951 984.035 14.406 3.105.058 65.581 6.183.088 1.153.889
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INFORMASI TAMBAHAN (lanjutan) SUPPLEMENTARY INFORMATION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN (lanjutan) RESERVES ESTIMATION (continued)
(1) Estimasi cadangan Grup yang termasuk dalam aset di Indonesia. Wilayah (1) Estimated reserves of the Group for Indonesian assets. The West region
Barat meliputi beberapa wilayah kerja diantaranya South Sumatera, Rimau, covering several working areas including South Sumatera, Rimau, Lematang,
Lematang, Blok A, South Natuna Sea Blok B, Blok Corridor, dan Sakakemang. Block A, South Natuna Sea Block B, Corridor Block, and Sakakemang.
(2) Estimasi cadangan Grup yang termasuk dalam aset di Indonesia. Wilayah (2) Estimated reserves of the Group for Indonesian assets. The East and Central
Timur dan Tengah meliputi beberapa wilayah kerja diantaranya Tarakan, Region covering several working areas including Tarakan, Senoro-Toili,
Senoro-Toili, Simenggaris, Sampang, Bangkanai, dan Madura. Simenggaris, Sampang, Bangkanai, and Madura.
(3) Estimasi cadangan Grup yang termasuk dalam aset Internasional meliputi (3) Estimated reserves of the Group for International assets covering several
beberapa wilayah kerja diantaranya Yaman, Thailand, Tanzania, dan Oman. working areas including Yemen, Thailand, Tanzania, and Oman.
(4) Estimasi cadangan Grup untuk Blok Rimau, dan South Sumatera berdasarkan (4) Estimated reserves of the Group for Rimau Block and South Sumatera based
Laporan Sertifikasi GaffneyCline per 31 Desember 2018, dengan hak on the GaffneyCline Certification Report as of December 31, 2018, with 100%
partisipasi Grup 100% sampai dengan Oktober 2019 dan 65% per November the Group's participating interest until October 2019 and 65% as of November
2019 sampai dengan seterusnya. 2019 onwards.
Estimasi cadangan Grup untuk Blok Lematang berdasarkan Dokumentasi Estimated reserves of the Group for Lematang Block were based on Internal
Cadangan Internal per 31 Desember 2025, sesuai dengan hak partisipasi Reserve Documentation as of December 31, 2025, in accordance with the
Grup untuk Blok Lematang sebesar 100%. Group's participating interest in the Lematang Block of 100%.
Estimasi cadangan Grup untuk Blok Senoro-Toili (Lapangan Gas Senoro) Estimated reserves of the Group for Senoro-Toili Block (Senoro Gas Field)
berdasarkan Laporan Sertifikasi GaffneyCline per 31 Desember 2025, dengan were based on the GaffneyCline Certification Report as of December 31,
hak partisipasi Grup sebesar 30%. 2025, with the Group's participating interest of 30%.
Estimasi cadangan Grup untuk Blok Senoro-Toili (Lapangan Tiaka) Estimated reserves of the Group for Senoro-Toili Block (Tiaka Field) were
berdasarkan Laporan Sertifikasi NSAI per 31 Desember 2011, dengan hak based on the NSAI Certification Report as of December 31, 2011, with the
partisipasi Grup sebesar 30%. Group's participating interest of 30%.
Estimasi cadangan Grup untuk Blok A berdasarkan Laporan Sertifikasi Estimated reserves of the Group for Block A were based on the GaffneyCline
GaffneyCline per 31 Desember 2024, dengan hak partisipasi Grup sebesar Certification Report as of December 31, 2024, with the Group's participating
85%. interest of 85%.
Estimasi cadangan Grup untuk Blok Tarakan berdasarkan Dokumentasi Estimated reserves of the Group for Tarakan Block were based on the Internal
Cadangan Internal per 31 Desember 2025 sesuai dengan hak partisipasi Grup Reserves Documentation as of December 31, 2025 with the Group's
sebesar 100%. participating interest of 100%.
Estimasi cadangan Grup untuk Blok Yemen 9 berdasarkan Laporan McDaniel Estimated reserves of the Group for Yemen 9 Block were based on McDaniel
& Associates Consultants Ltd per 31 Desember 2014, dengan hak partisipasi & Associates Consultants Ltd Report as of December 31, 2014, with the
Grup sebesar 25%. Group's participating interest of 25%.
Estimasi cadangan Grup untuk Blok Sampang berdasarkan Dokumentasi Estimated reserves of the Group for Sampang Block were based on Internal
Cadangan Internal per 31 Desember 2025, dengan hak partisipasi Grup untuk Reserves Documentation as of December 31, 2025, with Group's participating
Oyong - Wortel sebesar 45% dan Paus Biru sebesar 75%. interest of 45% for Oyong - Wortel and 75% for Paus Biru.
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INFORMASI TAMBAHAN (lanjutan) SUPPLEMENTARY INFORMATION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN (lanjutan) RESERVES ESTIMATION (continued)
Estimasi cadangan Grup untuk South Natuna Sea Blok B berdasarkan Estimated reserves of the Group for South Natuna Sea Block B were based on
Laporan Sertifikasi GaffneyCline per 31 Desember 2020. Pengkinian taksiran the GaffneyCline Certification Report as of December 31, 2020. Updating of
data reserves & resources pada beberapa Lapangan (West Belut, Terubuk reserves & resources data estimates for several Fields (West Belut, Terubuk
dan Siput) untuk keperluan Kontrak Jual Beli Gas Baru berdasarkan Laporan and Siput) for the purposes of a New Gas Purchase Contract based on the
Sertifikasi GaffneyCline per 30 Juni 2023, dengan hak partisipasi Grup GaffneyCline Certification Report as of June 30, 2023, with the Group's
sebesar 40%. participating interest of 40%.
Estimasi cadangan Grup untuk Blok Tanzania berdasarkan Laporan Sertifikasi Estimated reserves of the Group for Tanzania Block were based on the ERCE
ERCE per 31 Oktober 2014, dengan hak partisipasi Grup sebesar 20%. Certification Report as of October 31, 2014, with the Group's participating
interest of 20%.
Estimasi cadangan Grup untuk Madura Offshore berdasarkan Dokumentasi Estimated reserves of the Group for Madura Offshore were based on Internal
Internal per 31 Desember 2025, dengan hak partisipasi Grup untuk Maleo dan Reserves Documentation as of December 31, 2025, with Group's effective
Peluang sebesar 67,5% dan Meliwis sebesar 77,5%. working interest of 67.5% for Maleo - Peluang Field and 77.5% for Meliwis.
Estimasi cadangan Grup untuk Blok Bangkanai berdasarkan Laporan Estimated reserves of the Group for Bangkanai Block were based on the
Sertifikasi DeGolyer and MacNaughton per 31 Maret 2025 dan taksiran DeGolyer and MacNaughton Certification as of March 31, 2025, and the
Sumber Daya Kontinjen berdasarkan dokumentasi LAPI ITB per Januari 2019, Contingent Resources estimate were based on LAPI ITB documentation as of
dengan hak partisipasi Grup sebesar 70%. January, 2019, with the Group's participating interest of 70%.
Estimasi cadangan Grup untuk Bualuang berdasarkan Laporan Sertifikasi Estimated reserves of the Group for Bualuang were based on GaffneyCline
GaffneyCline per 31 Desember 2020, dengan hak partisipasi Grup sebesar Certification Report as of December 31, 2020, with the Group's participating
100%. interest of 100%
(5) Estimasi cadangan Grup untuk Blok Corridor berdasarkan Laporan Sertifikasi (5) Estimated reserves of the Group for Corridor Block were based on the
DeGolyer and MacNaughton per 31 Desember 2024, dengan hak partisipasi DeGolyer and MacNaughton Certification Report as of December 31, 2024,
Grup sebesar 46%. Dengan telah selesainya akuisisi Fortuna International with Groups's participating interest 46%. Due to the completion of the
(Barbados), Inc, yang memegang hak kepemilikan tidak langsung sebesar acquisition of Fortuna International (Barbados), Inc, which holds an indirect
24% di PSC Corridor dari Repsol E&P, S.à.r.l. efektif pada 29 Juli 2025, 24% interest in the Corridor Production Sharing Contract (“Corridor PSC”),
terdapat penyesuaian terhadap hak partisipasi Grup untuk Blok Corridor dari from Repsol E&P, S.à.r.l effective on July 29, 2025, the Group’s participating
46% menjadi 70%, setelah unitisasi Lapangan Suban 10% dan Lapangan interest in the Corridor Block has been adjusted from 46% to 70%, after
Gelam 14%. unitization of the Suban Field 10% and Gelam Field 14%.
Grup mengumumkan keberhasilan penyelesaian divestasi seluruh saham The Group's announces the successful completion of the divestment of its
Ophir Vietnam Block 12W B.V. ("OVBV") kepada Bitexco Energy Company entire share capital of Ophir Vietnam Block 12W B.V. (“OVBV”) to Bitexco
Limited ("Transaksi") pada tanggal 19 April 2024. OVBV memiliki 31,875% hak Energy Company Limited (the “Transaction”) on April 19, 2024.
partisipasi di Chim Sao dan Dua ("Blok 12W"), ladang minyak dan gas bumi OVBV holds a 31.875% participating interest in Chim Sao and Dua (“Block
yang berlokasi di Vietnam. 12W”), the producing oil and gas field located in Vietnam.
Grup melakukan akuisisi OQ Exploration & Production (OQEP) tanggal 12 The Group's acquired OQ Exploration & Production (OQEP) on December 12,
Desember 2023, dimana wilayah kerjanya berlokasi di Oman, yaitu Blok 60. 2023, whose working area is located in Oman, Block 60. The Group's reserves
Estimasi cadangan untuk blok tersebut berdasarkan Dokumentasi Cadangan estimates for Oman Block 60 were based on Internal Reserves Documentation
Internal per 31 Desember 2025, dengan hak partisipasi 20%. as of December 31, 2025, with Group's effective working interest of 20%.
Grup mengumumkan keberhasilan penyelesaian divestasi kepemilikannya The Group's announces the successful completion of the divestment of its
(24,5%) di Contract Area 47, Libya kepada National Oil Corporation of Libya holding (24.5%) in Contract Area 47, Libya to the National Oil Corporation of
("NOC") pada tanggal 27 Mei 2024. Libya ("NOC”) as of May 27, 2024.
358
Page 527
PT Medco Energi Internasional Tbk 2025 Annual Report Value. Focus. Growth. 525
PT MEDCO ENERGI INTERNASIONAL TBK DAN ENTITAS ANAKNYA PT MEDCO ENERGI INTERNASIONAL TBK AND ITS SUBSIDIARIES
INFORMASI TAMBAHAN (lanjutan) SUPPLEMENTARY INFORMATION (continued)
Tanggal 31 Desember 2025 As of December 31, 2025
(Disajikan dalam Dolar Amerika Serikat, Kecuali Dinyatakan Lain) (Expressed in United States Dollar, Unless Otherwise Stated)
(Tidak Diaudit) (Unaudited)
ESTIMASI CADANGAN (lanjutan) RESERVES ESTIMATION (continued)
Grup melakukan akuisisi Sakakemang PSC tanggal 7 November 2025, The Group's acquired for Sakakemang PSC on November 7, 2025, whose
dimana wilayah kerjanya berlokasi di Sumatera Selatan yaitu Blok working area is located in South Sumatra, Sakakemang Block . The Group's
Sakakemang. Estimasi cadangan untuk blok tersebut berdasarkan Sertifikasi reserves estimates for Sakakemang Block were based on Sproule Certification
Sproule per 30 November 2019, Dokumentasi POD I Revisi Lapangan as of 30 November 2019, POD I Revision Kaliberau Dalam as of September
Kaliberau Dalam per 13 September 2023 dan Dokumentasi Cadangan Internal 13, 2023 and Internal Reserves Documentation as of December 31, 2025 with
per 31 Desember 2025, dengan hak partisipasi 45%. Group's participating interest of 45%.
(6) Grup mengklasifikasikan PT Medco E & P Simenggaris sebagai aset dimiliki (6) The Group has classified PT Medco E & P Simenggaris as assets held for sale
untuk dijual dan telah menandatangani Perjanjian Jual Beli dengan kondisi and has entered into a Sales and Purchase Agreement with conditions
pendahuluan pada Februari 2026. Estimasi cadangan Grup untuk Blok precedent on February 2026. Estimated reserves of the Group for Simenggaris
Simenggaris (Lapangan South Sembakung) dibuat berdasarkan sertifikasi Block (South Sembakung Field) were made based on LAPI ITB certification as
LAPI ITB per 16 Desember 2022, dengan hak partisipasi Grup sebesar 62,5%. of December 16, 2022, with the Group's participating interest of 62.5%.
359
Page 528
PT Medco Energi Internasional Tbk The Energy Building 53rd Floor SCBD Lot 11A Jl. Jend. Sudirman, Jakarta 12190 Indonesia P. +62-21 2995 3000 F. +62-21 2995 3001 www.medcoenergi.com
Names mentioned 152 people and organisations named in the text · linked when the evidence is strong
unresolved
person
Highlights
· President Commissioner
p.5 ×2
unresolved
org
PT However
p.17
unresolved
org
PT Medco E
p.18 ×29
unresolved
person
Executive
· President Director
p.19 ×2
unresolved
org
PT Medco Cahaya Geothermal
p.20 ×2
unresolved
—
Anthony R. Mathi
· Director
p.24 ×2
unresolved
org
P Grissik Ltd.
p.29 ×8
unresolved
org
PetroChina International Jabung Ltd.
p.29
unresolved
org
PT Pertagas Niaga
p.29 ×2
unresolved
org
Gas Negara Tbk
p.29 ×2
unresolved
org
PT Pupuk Sriwidjaja Palembang
p.29
unresolved
org
P Natuna Ltd.
p.29 ×5
unresolved
org
Sea B.V.
p.29
unresolved
org
Premier Oil Natuna Sea B.V.
p.29
unresolved
org
Block Offshore Pty. Ltd.
p.29
unresolved
org
PT Sarana Cepu Energi
p.29
unresolved
org
PT PLN (Persero)
p.29 ×4
unresolved
org
PT Medco
p.29 ×6
unresolved
org
PT Pertamina EP
p.29
unresolved
org
PGN Tbk
p.29 ×5
unresolved
org
PT Pertamina Gas
p.29
unresolved
org
Medco Energi Global Pte. Ltd.
p.29 ×5
unresolved
org
Singapore Pte. Ltd.
p.29 ×2
unresolved
org
PT Pertamina Hulu Rokan
p.29
unresolved
org
Petrolimex Singapore Pte. Ltd.
p.29 ×2
unresolved
org
Trading Singapore Pte. Ltd.
p.29
unresolved
org
Co Energy Trading International Jabung Ltd.
p.29
unresolved
org
PETCO Trading Labuan Company Ltd.
p.29
unresolved
org
Young Global Limited
p.30 ×2
unresolved
org
Medco Energi Madura Offshore Pty Ltd
p.30 ×3
unresolved
org
Medco Energi Bangkanai Limited
p.30 ×2
unresolved
org
Medco Arabia Ltd.
p.30 ×2
unresolved
org
PT Api Metra Graha
p.30 ×2
unresolved
org
PT Satria Raksa Buminusa
p.30 ×3
unresolved
org
PT Medco Power Geothermal Services
p.30
unresolved
org
Pte. Ltd.
p.30 ×5
unresolved
org
PT Medco LNG Lematang
p.31
unresolved
org
PT Medco LNG Indonesia
p.41
unresolved
org
PT Medco Daya Natuna
p.43
unresolved
org
Prime Natuna Inc.
p.43
unresolved
org
PT Pertamina Hulu Energi Corridor
p.43
unresolved
org
PT Pertamina Hulu Energi Tomori Sulawesi
p.43
unresolved
org
PT Medco Daya Energi Nusantara
p.43
unresolved
org
PT Medco Daya Makmur
p.43
unresolved
org
PT Bahtera Daya Makmur
p.43
unresolved
org
PT Sumsel Energi Rimau
p.43
unresolved
org
Medco Energi Sampang Pty Ltd.
p.43
unresolved
org
Cue Sampang Energy Pty Ltd.
p.43
unresolved
org
PT Saka Bangkanai Klemantan
p.43
unresolved
org
PT Pertamina Hulu Energi Simenggaris
p.43
unresolved
org
Medco Energi West Bangkanai Ltd.
p.43
unresolved
org
PT Saka Energi Bangkanai Barat
p.43
unresolved
org
PT Medco Energi Natuna Timur
p.43
unresolved
org
PT Medco Energi Beluga
p.43
unresolved
org
PT Sele Raya Sejati
p.43
unresolved
org
P Sakakemang B.V.
p.43
unresolved
org
PC Sakakemang B.V.
p.43
unresolved
org
Moeco Sakakemang B.V.
p.43
unresolved
org
Ministry of Energy
p.44 ×5
unresolved
org
Medco Asia Pacific Limited
p.45 ×2
unresolved
org
DIALOG Resources Sdn. Bhd.
p.45 ×2
unresolved
org
Production Malaysia Ltd.
p.45
unresolved
org
EnQuest Petroleum Production Malaysia Ltd.
p.45
unresolved
org
Medco Oman LLC
p.45 ×2
unresolved
org
Medco International Enterprise Ltd.
p.45
unresolved
org
Biyaq Oilfield Services LLC
p.45
unresolved
org
Tethys Oil Oman Onshore Ltd.
p.45
unresolved
org
Intaj LLC
p.45
unresolved
org
Calvalley Petroleum Ltd.
p.45
unresolved
org
Hood Oil Ltd.
p.45
unresolved
org
Gas Corporation
p.45
unresolved
org
PT Amman Mineral Nusa Tenggara
p.50 ×2
unresolved
org
Ministry of Human Rights
p.51
unresolved
org
PT Amman Mineral
p.52 ×2
unresolved
org
Flash Tbk
p.52
unresolved
org
PT Donggi-Senoro LNG
p.55
unresolved
org
PT Api MetraGraha
p.55
unresolved
org
PT Exspan Petrogas Intranusa
p.55 ×2
unresolved
org
PT Mitra Energi Gas Sumatera
p.55 ×2
unresolved
org
Indonesia Stock Exchange
p.58 ×4
unresolved
org
Internasional Tbk
p.58 ×2
unresolved
org
PT Amman Mineral Nusa Tenggara Malaysia
p.58
unresolved
org
PT Meta
p.60
unresolved
org
PT Medco Intidinamika
p.64 ×3
unresolved
org
Minister of Foreign Affairs
p.64
unresolved
org
PT Sarana Jabar Ventura
p.64 ×2
unresolved
org
Minister of People’s Welfare
p.64
unresolved
org
PT Sarna Bali Venture
p.64
unresolved
org
Yayasan Kanker Indonesia
p.64
unresolved
org
Minister of Finance
p.65
unresolved
org
Minister of Justice
p.65
unresolved
org
PT APRAMESIS
p.65
unresolved
org
PT Ravotri Prima Investama
p.65
unresolved
org
PT Amman Mineral Industri
p.65
unresolved
org
PT Medco Daya Abadi Lestari
p.65 ×3
unresolved
org
PT Multi Fabrindo Gemilang
p.65
unresolved
org
PT Medco Agro Appointment
p.65
unresolved
org
PT Pembangkitan Pusaka Parahiangan
p.81
unresolved
org
Nam Chumphon Group
p.82
unresolved
org
Financial Services Authority
p.88 ×4
unresolved
person
Facilitates
· Corporate Secretary
p.88
unresolved
person
Leolin Jayayanti
p.90
unresolved
org
Bank Indonesia
p.91 ×3
unresolved
person
AGMS
· President Commissioner
p.92 ×2
unresolved
org
Directorate General of Legal Administration
p.92
unresolved
person
Directorate General
· Director
p.92
unresolved
—
Marsillam
· Independent
p.94 ×2
unresolved
—
Simandjuntak
p.94
unresolved
—
Yaser R. A. Panigoro
p.94
unresolved
—
Yani
p.95
unresolved
—
Yaser
p.95
unresolved
—
Hilmi
p.97
unresolved
—
Lorato
p.98
unresolved
—
Anthony
p.98
unresolved
org
Bank Indonesia Credit Connect
p.98
unresolved
—
Ronald
p.98 ×2
unresolved
—
Amri
p.99
unresolved
—
Iwan Prajogi
· Member/Senior VP Business Support
p.107 ×2
unresolved
—
Tia N. Ardianto
· Member/VP Human Resources & General Services
p.107 ×2
unresolved
—
Siendy K Wisandana
p.107
unresolved
—
Ronny Siahaan
p.107
unresolved
org
PT Medco Energi Int
p.156 ×2
unresolved
org
Purwanto Susanti
p.156
unresolved
org
PT Medco Geothermal Sarulla
p.359 ×2
unresolved
org
PT Medco Kansai Power Indonesia
p.359
unresolved
org
PT Medco Duta
p.359 ×2
Extraction attempts how the parser did, and what it refused
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ESG2025-MEDC.pdf
done