Before he became the “King of Indonesian Oil” Arifin Panigoro studied electrical engineering at the Bandung Institute of Technology. His first job was as a door to door contractor undertaking electrical installations. He then set up his own small pipe installation business, and then in 1981 founded Medco Energi Internasional an oil drilling company.

Medco was set up with government funding, and was taken public by Panigoro, before he handed the reins over to his brother Hilmi. Away from Medco, he has stakes in two banks, owns several hotels, as well as lucrative palm oil plantations. He was awarded the Bintang Mahaputera Nararya, one of the highest honors a civilian can receive in Indonesia.