PT Elnusa Tbk (ELNUSA), one of the leading national providers of oil & gas and energy services, through a division of the business, the Division of Geoscience until June 2015 has won new contracts for seismic survey with total contract value overall reached USD 84 million.
These seismic surveys will take place in several areas in West Java and North Sumatra for 3D seismic, and North Borneo territory for 2D seismic; the contract period varies from eight months to 21 months. One work has already begun at the end of the first half of this year while the rest will begin in the third quarter and year‐end.
"Those new contracts for seismic survey were very encouraging to us as a provider of premier national seismic survey, the largest and trusted in Indonesia. As we all know that the conditions of the declining of world oil prices evenmore SKK Migas has also lowered the upstream oil and gas investment budgets, including the investment budget for exploration activities. But for Elnusa, this year our seismic acquisition contract has already exceeded last year's contract, "explained TS Winarso, Deputy Director of Geoscience Service Line Elnusa.
Starting this year, Division of Geoscience Services Elnusa is also expected to use wireless technology to enhance the competence and maintain a national seismic market share. In addition, the Division of Geoscience Services Elnusa is also able to perform work activities services of non‐seismic such as: gravity survey, magnetic survey, navigation positioning and construction support, geophysical and site survey, Topographic and bathymetric survey, magnetotelluric, GGR (Geology & Geophysics Reservoir) as well as the data processing seismic which still continue to be developed as one of the core competencies Elnusa in facing fierce competition of oil and gas services business in Indonesia.