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Kyushu Electric Power Company concluded the Joint Development Agreement with PT. Medco Power Indonesia and PT. Medco Geothermal Indonesia (hereinafter collectively called Medco), subsidiaries of PT. Medco Energi Internasional Tbk., an Indonesian holding company owning share capital of major private oil and gas companies.
PT. Medco Energi Internasional Tbk. is engaged in energy-related businesses including IPP business, with exploration and production of oil and gas as its core business in Indonesia as well as overseas.
By signing this Joint Development Agreement with Medco, which is taking an active role in Indonesia's energy sector, Kyushu Electric Power Company will enhance access to energy projects in Indonesia.
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[Outline of the Agreement]
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Description of the Agreement
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Joint business development and cooperation in upstream business and power generation business in Indonesia and overseas (not an exclusive agreement).
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Date of Conclusion
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April 11, 2007
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Representatives
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Kyushu Electric Power Company
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Director Nobuyoshi Yokoe
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Medco
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President Director of PT. Medco Power Indonesia
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Fazil E. Alfitri
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President Director of PT. Medco Geothermal Indonesia
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SJ Aries Pardjimanto
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(Reference) Outline of PT. Medco Energi Internasional Tbk.
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Establishment Date
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June 1980
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Location of Head Office
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Jakarta, Indonesia
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Number of Employees
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2,373 (As of the end of 2005)
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Sales Revenue in FY2005
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74.4billion yen equivalent
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Net Income in FY2005
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9 billion yen equivalent
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Stock listed
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Jakarta Stock Exchange since 1994
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Business Fields (as of 2005)
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Exploration and production of oil and gas (70.5%), Drilling services (19%), Power (5.4%), Chemicals (5.1%)
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This mark means acrobat data. 
