Abstract:

As Medco Energi marks its 45th year - alongside SPE Thailand’s journey - this keynote offers a reflection on how the company has evolved from a national oil and gas player into a resilient regional figure, with producing assets across Indonesia, Thailand, Oman, and other key geographies. Our strength today lies not only in the breadth of our portfolio, but in our ability to operate lean, adapt to marginal field and late life asset challenges, and consistently deliver value across both mature and emerging basins. This track record is more than a corporate milestone - it is a deep well of operational learning, technical resilience, and strategic adaptability that we now bring to bear in Thailand. The same principles that guided us through complex developments in Indonesia and Oman now underpin our strategy in the Gulf of Thailand.

Our current focus in Thailand is the Bualuang field, which has continued to produce through life extensions efforts, overcoming reservoir and facilities constraints while maintaining safe and reliable operations. Leveraging Medco’s late-life asset management strength and operational excellence framework, Bualuang has become a strong example of how a marginal field can be transformed into a sustainable, long-term value generator. Looking ahead, we are preparing to take the next step with debottlenecking and further renewal plan project - a focused program to sustain production, resolve key facility and well bottlenecks, and unlock additional value through near-field appraisal opportunities.

By drawing on 45 years of operational strength, Medco is not only planning to sustain the Bualuang field - it is helping shape a model for how mature offshore assets can continue to deliver value both to the Company as well as to Thailand.

Bio:

Anastasia Mustika (Ika) holds the role as General Manager of Medco Energi Thailand (Bualuang) Limited since May 2025; where she manages the overall business of the Company in Thailand.

Ika strengthens Medco Thailand Team through her 20 years of experience in Offshore and Onshore Operations internationally, including Indonesia, Singapore and UK.

She started her career in Upstream Oil & Gas Business 20 years ago with ConocoPhillips Indonesia as a Process Engineer with postings mainly in Offshore Operations across ConocoPhillips assets in Asia & UK. She also held several Operations Leadership positions in ConocoPhillips. In 2022, Ika served as Executive Assistant to the Company’s COO & CAO (2022-2023) following the acquisition of ConocoPhillips by MedcoEnergi. She held the role as senior manager of E&P Planning (2023-2025) where she was responsible mainly for managing the portfolio of MedcoEnergi’s upstream business.

She completed her bachelor’s degree in Gas & Petrochemical Engineering from University of Indonesia (Cum Laude) in 2004 and was one of the SPE Scholarship Awardee. She received her master’s degree on Strategic Management in 2021 from Universitas Prasetiya Mulya Indonesia.