Elnusa Reaches Rp1.6 Billion Profit In The First Quarter Of 2021, Energy Logistics Business Is A Support

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Elnusa Tbk. recorded a net profit of Rp1.6 billion during the first quarter of 2021. This book of cuan, a subsidiary of Pertamina, was supported by operating revenues of Rp1.8 trillion.

In terms of sectoral composition, upstream oil and gas services contributed 39 percent, energy distribution and logistics services 50 percent and the remaining 11 percent contributed by supporting services.

President Director Elnusa Ali Mundakir said the business trip for the first three months of this year is still a requirement for operational challenges with all its dynamics.

"However, we continue to carry out positive trends so we are optimistic that they will produce better results in the coming quarters," he said in an official statement as quoted on Sunday, May 2.

According to Ali, the implementation of several projects has been on-stream this year from all existing business segments.

He said that for upstream oil and gas services, work on carry-over projects and new projects were already underway, as well as other supporting work for oil and gas production in oil and gas blocks spread across Indonesia, especially in the Pertamina Group work area.

"In energy distribution and logistics services, Inmar's fuel sales volume will be a support this quarter due to the increasing number of customers," he said.

Meanwhile, the Depo Management service business has also experienced an increase in volume of several Depo projects including Depo Amurang which has been transferred to management since 2019.

Meanwhile, in support services, this segment continues to actively contribute and grow through the oil and gas equipment fabrication business and the warehousing business or document storage.

"In terms of investment spending, Elnusa has budgeted for an increase in investment to reach Rp 600 billion this year," he added.

Ali added that the challenges and opportunities in the future will be a stepping stone for business growth for Elnusa.

Apart from relying on internal competence, the company will also maximize the cooperation of various strategic alliances with several partners in achieving the oil production target of 1 million barrels per day.

"We continue to spur portfolio diversification, competence, and the right investment to support growth," closed Ali.