Beginning as HUFFCO in the 1960s, VICO’s ownership changed over time, and is presently majority-owned as a 50-50 joint venture between BP and ENI. These two big multinational oil and gas companies each have 37.8% interest in VICO’s underlying asset, the Sanga Sanga PSC. VICO essentially made Indonesia into an LNG exporting nation with the Badak Field discovery of 1972, and is now on the brink of revolutionizing the industry once again with Coal Bed Methane (CBM) development. In this way, the company is renewing itself and is very excited about its present state and looking toward to the future with the mission established:
- Applying appropriate technology and the highest international HSE standards.
- Performing cost effectively with continuous improvement in all business processes.
- Providing the best environment for professionals to develop and realize their maximum potential.
- Generating improved quality of life for stakeholders and communities alike.
CARING FOR HEALTH, SAFETY, AND ENVIRONMENT and SOCIAL RESPONSIBILITY
The goals of VICO CSR policy, throughout the programs, is to provide employment and skills. We have received numerous awards for these achievements. Currently, VICO has 27 million safe man-hours, a remarkable achievement. Our programs are recognized internally but externally also, by the government and we are very proud of them. As appreciation of our commitment in social responsibility, VICO received the “Upakarti Award” from the Indonesian President in December 2006. The award is given to companies who play a significant role in developing small local industries in Indonesia. VICO is the first oil and gas company to receive the award.
CARING FOR PEOPLE DEVELOPMENT
For VICO, We strongly believe that the success of our mission depends greatly on the quality and competencies of our people.
VICO received the “Career Development Monitoring Award” from BPMIGAS in 2005 and won the 2nd place in 2006 and 2007 as the best Indonesian oil and gas company in developing national manpower, with structured & objective mechanism.