The Government of Thailand has granted Medco Energi Internasional (MedcoEnergi) subsidiaries, Medco Energi Thailand (Bualuang) and Medco Energi Thailand (E&P), an extension for the Bualuang oil field production period until 23 October 2035.

This approval allows the subsidiaries to continue their operations and reinforces the company's focus on the region.

MedcoEnergi director and CEO Roberto Lorato said: “We are proud to receive this extension, which underscores our commitment to operational excellence and sustainable development in Thailand, while rewarding our investment proposition.”

This extension is a step forward for the company's long-term strategy to enhance production and maximise the value of the Bualuang asset through various investments and operational improvements.

The company's development plan for Bualuang includes facility debottlenecking, workovers, development drilling, and near-field exploration.

Medco Energi Thailand general manager Anastasia Mustika said: “MedcoEnergi expresses its gratitude to the Government of Thailand, as well as to all stakeholders, including the Department of Mineral Fuels, local communities and contractors, for their support and collaboration in making this extension possible.

“This achievement reaffirms the Company’s long-term commitment to responsible energy production.”

The extension of the Bualuang production period is in line with MedcoEnergi's goals to achieve sustainable growth and to maintain its status as a energy company in Southeast Asia.

In June 2025, Medco Energi Internasional unveiled a deal to purchase a 24% interest in the Corridor Production Sharing Contract from Repsol E&P, a transaction valued at $425m (Rp6.88tn).

The agreement aimed at improving Medco Energi’s portfolio, with completion expected in the third quarter of this year.