12 July 2021

Semester 1: Elnusa Records Contract Realization of IDR 6.5 T

Jakarta, 12 July 2021 - PT Elnusa Tbk (Elnusa), a leading national company providing energy services, in the first semester of 2021 managed to record the realization of consolidated work contracts worth IDR6.5 trillion. This amount is equivalent to 75% of the company's 2021 work plan and budget (RKAP). This is a positive signal for Elnusa's service activities, which continue to grow amid the uncertainty of current conditions.

Elnusa's Corporate Secretary, Ari Wijaya, said that the diversity of the service portfolio owned by Elnusa certainly provides its own advantages for us. In the upstream sector, this segment is still the prima donna with its total solution services, such as well maintenance services and operation maintenance, although in this segment there is a slight correction in exploration services due to the delay of several upstream oil and gas projects. 

In addition, restrictions imposed by the government during the pandemic such as Emergency PPKM are expected to have an impact on the Energy Distribution & Logistics Segment. On the other hand, the Support Services Segment is currently still showing good growth. Through optimizing the portfolio diversification strategy, we believe that we can support each other in supporting the achievement of future consolidation. 

Providing services during the implementation of Emergency PPKM also has an impact on increasing operating costs. Health protocols are more stringent. However, it remains our commitment, because HSSE remains our top priority. The Board of Directors through the VP of HSSE has also activated the Emergency Response Team, as an anticipatory measure if there are employees and/or their families who are affected by Covid19.

Ari added, “Currently, there are several ongoing and future contracts for several segments that are still growing in the future. Several strategies were also carried out by the company, namely by carrying out cost efficiency and cost leadership and adjusting investment costs through a priority scale that was carried out selectively, besides that the Elnusa Board of Directors also did not hesitate to carry out micro management ".

“The situation that is still not conducive and has an impact on the global economy is currently also affecting Elnusa's performance. Nevertheless, the achievement of the realization of the registered Elnusa contract will certainly provide fresh air and additional enthusiasm. In the next semester we are confident that we will be able to achieve the target with positive performance achievements. In addition, with the current increase in the price of Indonesian Crude Oil, we hope that this will be an opportunity for KKKS to open the faucet for investment in the upstream oil and gas sector which will also have a positive impact on Elnusa.” close Ari

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