Jakarta, 28 August 2018 – PT Elnusa Tbk (Elnusa), reputable energy services company, recorded excellent results in the first half of 2018. Consolidated revenue was Rp2.9 trillion or grew 47% compared to the same period of previous year which only reached Rp1.9 trillion. Net income also increased significantly from Rp14 billion to Rp128 billion.
Tolingul Anwar, President Director of Elnusa explained, “Elnusa’s performance in the first semester of 2018 is far better than last year. Aside of late beginning major projects factor in Semester II 2017 which affecting on the overall performance of the year, this year the Elnusa projects are relatively better and more measured.”
Elnusa’s performance improvement this year was mainly dominated by the logistics and energy distribution segment which grew 50% compared to the previous year. The growth of this segment also increased its contribution to Elnusa’s revenue to 56%. This segment growth factor was due to the addition of several new projects and supported by an increase in the volume of both fuel trading and distribution.
In the upstream oil and gas services segment, growth was occurred in the production & operation maintenance lines which increased by more than 50% over the previous year. Improved oil and gas activity is reflected in the increase in the volume of work in asset-based businesses such as Hydraulic Workover, Coiled Tubing, Fluid Drilling and non-asset based businesses such as Engineering Procurement Construction & Operation Maintenance (EPC-OM).
Another upstream oil and gas service segment line, namely Geoscience & Reservoir Services, which is dominated by seismic survey work, recorded stable performance. The large project of the West Papua 3D Klamasossa land seismic survey was successfully completed faster than the target in the first quarter. In addition to marine seismic survey services, Elnusa this year has just completed work in Selabangka, Singkawang and Java Sea.
Tolingul added, “One of the directions of Elnusa’s current business development is to strengthen the line of marine seismic survey services. After having ELSA Regent, an Indonesian-flagged seismic vessel, Elnusa has completed its offshore technical capabilities with the latest ocean bottom nodes nodal equipment investment that will be used for a variety of subsequent marine seismic projects.”
Elnusa believes that with Elnusa’s new vision, Reputable Energy Services Company by Providing Total Solution, Elnusa in the future will be in a stronger position as an energy services company that is able to deliver total solutions with diversification of services from upstream oil and gas, logistics and energy distribution to supporting. ***