Budget Capex IDR 500 Billion In 2023, This Is Elnusa's Shopping List

JAKARTA - PT Elnusa Tbk (ELSA) has budgeted a capital expenditure of IDR 500 billion in 2023.

"Most or 46 percent of capital expenditures are allocated for maintenance capacity for land seismic survey equipment and also well maintenance," said Vice President Strategic Planning & Corporate Management of PT Elnusa Tbk, Ferdiansyah in Jakarta, Thursday.

In addition, continued Ferdiansyah, 35 percent is allocated for business growth in the maintenance of the completeness capacity of the Hydraulic Workover (HWU), Mobile Well Testing as well as energy distribution and logistics services for the construction and revitalization of the Petroleum Liquefied Gas Terminal (TPLG) Kolaka, Tanjung Pandan, Labuan Bajo, based on market certainty in the future.

"While the rest are used for the oil and gas support service segment and non-project," he added.

According to him, Elnusa in 2023 will strengthen business fundamentals towards competitive and sustainable growth through four strategic priorities.

Starting from efforts to improve workers' competence as fundamental in providing the best service for clients through Learning & Growth Perspective, strengthening the internal process in optimizing asset productivity as well as increasing marketing capability.

Then, customer perspective as an improvement in service quality to improve market share in Pertamina Group and non-Pertamina Group, as well as financial perspective in building cost awareness as an effort to provide competitive prices and increase profitability margins.

Elnusa's Manager of Corporate Communications, Jayanty Oktavia Maulina, said that this year's capital expenditure was prepared to support the company's future growth.

Jayanty revealed that the decrease in the number of capital expenditures this year from the previous year was IDR 700 billion, with the consideration that investments could be made selectively.

"That way, it is hoped that Elnusa will be selective in investing and observing market potential in the future," said Jayanty.