Energy titan revamps to build regional edge

The oil and natural gas producer, which is currently bidding for Australia's Novus Petroleum, has retained its name in the exercise, but moved its non-energy businesses out from under the MedcoEnergi banner. In addition to retaining its name, brand and design consultancy Landor, which was tasked by MedcoEnergi to create a new branding strategy and visual identity, also recommended that the group extend the brand across all its energy-related businesses. "MedcoEnergi had a very complex structure, but it wants to structure itself more clearly and communicate in a stronger voice what the energy company stands for," said Mark Kennedy, Landor's director of marketing and brand strategy. Michael Ip, Landor's Asia-Pacific managing director, said one of MedcoEnergi's key objectives in undertaking the overhaul was to capture the company's new positioning -- 'the energy company of choice' -- as well as strengthen its appeal with its stakeholders and business-to-business partners. Medco Energi counts Thai gas giant PTT Exploration and Production as a partner through the latter's 40 per cent stake. "Being an Indonesian company is very important, but Medco also wants to be seen as a regional player able to compete on a wider stage and not only in Indonesia," said Ip. The new look features a 'blue planet', which Landor's Hong Kong-based creative director Vincenzo Perri described as more than just a logo. "It is a statement of renewed commitment to sustainability -- first and foremost to applying the company's resources responsibly, with a long-term view of the industry's development and the company's placement in the wider social context," said Perri. The brand's 'blue ring' is a symbolic representation of earth, the blue planet, and is complemented by its initials, with one placed at a 90 degree angle to make the letter 'E', according to Perri. These features make the new symbol "distinctively reminiscent of the atomic symbols used in the period table and link the new identity for MedcoEnergi with its business philosphy and aspirations". Energy accounts for more than 70 per cent of the company's business. The group also has real estate, hotel and agricultural businesses, which no longer operate under the MedcoEnergi banner. The relaunch has been rolled out internally, with plans for an external launch likely in the third quarter. At press-time, Medco Energi extended its offer for the seventh time on Novus Petroleum, which it sees as a means to boost output and expand in the US and the Middle East. At home, Medco Energi, which reported 2003 net profit of US$53.4 million -- down 35 per cent from a restated net profit of $82.5 million a year ago -- has also set its sights on buying a gas field owned by BP.