Jakarta, 21th March 2023 - PT Elnusa Tbk (Elnusa) signed a Memorandum of Understanding (MoU) with KHAN Co., Ltd. (KHAN) for cooperation and collaboration in decommissioning, commissioning, Offshore Hook Up and Carry Over (HUC), Pipe Laying Construction and O&M/P&M.

The signing was carried out by the Main Director of Elnusa John Hisar Simamora, with CEO KHAN Jang-Hwan Hyun and witnessed directly by the Korean Ministry of Maritime Affairs and Fisheries and the Indonesian Coordinating Ministry for Maritime Affairs and Investment as well as the Indonesian Ministry of Maritime Affairs and Fisheries and SKK Migas on March 14, 2023.

Meanwhile, Elnusa's Business Development Director Ratih Esti Prihatini, who was also present at the occasion, responded to the signing of this MoU as a promising opportunity in the future for business continuity. "The signing of this MoU is an industrial collaboration between the Indonesian Government delegation and the Korean Government. We see this prospect as a great opportunity for Elnusa's business development and as a form of Elnusa's role in supporting government programs," said Ratih.

Ratih added, "Through the presence of the KHAN Co., Ltd Corporation, it is also expected to be able to build collaborations to create sustainable economic benefits for the platform that is no longer operating, and of course, this will become a business opportunity for Elnusa in the future."

As information reported on the SKK Migas website, there are currently 635 offshore platforms operating in Indonesian waters, consisting of 512 operating platforms, 116 non-operating platforms, and 7 units of platforms that have already been abandoned. , will stop operating in line with reduced oil and gas reserves due to production. Therefore, with the inactivity of the platform, efforts are needed to return the operating environment to its initial condition following the safety aspects of the facility and the environment.

The largest distribution of platforms is around West Java, Jakarta, and Banten and Lampung, which reached around 339 platforms followed by the Makassar Strait, which totaled 193 platforms. Regarding PSC Contractors, PHE ONWJ had the most with 73 platforms, then EMP Gebang with 14 platforms, and PHE OSES with 11 platforms.

KHAN has experience conducting the Offshore Platform Decommissioning Project for the Attaka-EB Offshore Platform in 2022. KHAN implements high-tech, Eco-Friendly Decommissioning such as 3D-Scanning, 3D-Modelling, 4D-Digital Simulation, and others. This is expected to increase the effectiveness and efficiency of further decommissioning activities.

Present at the signing of the MoU, the Director of KHAN's Foreign Business Team, Jinwoo Park, estimated that the MoU with Elnusa would benefit KHAN and Elnusa. "KHAN is now accelerating the process of opening his office in Indonesia. Through this MoU, KHAN estimates to be able to carry out successful projects with Elnusa in all areas of offshore work. By considering each other's advantages, KHAN is confident that the collaboration and collaboration will benefit both parties," said Park.