07 November 2023

ELNUSA Continues to Increase Business Capacity through Investment and Capital Expenditures

Jakarta, 7 November 2023, PT Elnusa Tbk (ELNUSA, IDX: ELSA) continues to increase business capacity through investment spending from capital expenditure. By increasing equipment capacity, it is hoped that the Company will be able to provide effective solutions. The capex realization so far as of September 2023 has been absorbed at around 57% of the company's capital expenditure plan of IDR 500 billion. This is a positive signal for business prospects in the coming year.

Based on the absorption of capital expenditure, Top Cash Out Realization year-to-date September 2023 was contributed by 27% to the Upstream business line which includes Cementing Unit, Equipment Slickline, and Electric Wireline (EWL) Onshore. 25% on Energy Distribution & Logistics Services for Regular Tank Car Fleet replacement needs. Meanwhile, 43% is for supporting services needs including Offshore Work Barge Accommodation & Operational Barge needs and 5% is for non-project use.

Elnusa Corporate Communication Manager, Jayanty Oktavia Maulina said "Until the end of 2023 the Company is still targeting to make selective and targeted investments and continue efficient operational performance. "This is done to support sustainable business growth and continue to encourage strengthening operational excellence, increasing capacity and business development," said Jayanty.

Jayanty added, "The Company will continue to focus on strengthening and developing the Company's three core businesses in Upstream Oil and Gas Services, Energy Distribution and Logistics Services and Oil and Gas Support Services which are able to support the Company's performance with each other. "In addition, the Company also supports the Government's program to carry out energy conversion and is currently exploring the development of new businesses in the new renewable energy industry." Close Jayanty.

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