JAKARTA, RAKYAT NEWS- PT Elnusa Tbk, an oil and gas service company now in its 55th year, continues to innovate and enhance its resilience to sustain business in the era of disruption.

Elnusa is an Indonesian company that provides services in the oil and gas industry. Established in 1969, it offers a wide range of services including seismic data acquisition, drilling, oilfield services, and other related activities. Elnusa is a subsidiary of PT Pertamina (Persero), Indonesia’s state-owned oil and gas company. The company plays a significant role in supporting the exploration, production, and development activities within the energy sector in Indonesia.

“In recent years, many innovations have been developed by Elnusa officers, such as our latest innovation, the Hydraulic Drilling Unit, which combines the need for well workovers with exploratory drilling required by clients,” said Elnusa President Director Bachtiar Soeria Atmadja in Jakarta on Friday.

A subsidiary of PT Pertamina Hulu Energi under Pertamina’s Upstream Subholding, Elnusa has also successfully formulated red and white slurry cement for more efficient and effective drilling.

Bachtiar explained that various changes in the oil, gas, and energy industries, both domestically and globally, have influenced Elnusa’s performance over the past decade.

“How Elnusa’s performance has been affected by these situations, and how we responded by setting business strategies that we believe can deliver optimal results now and in the future,” he said.

Additionally, Bachtiar highlighted the company’s success in resolving several business issues, including a long-standing dispute with Bank Mega, which was resolved well.

The Elnusa President Director also stated that the company has successfully grown and revitalized its upstream services business since the oil price drop due to shale oil less than a decade ago.

“As a result, Elnusa achieved its highest revenue and profit in history in 2023, and we will continue to strive to make history in the future,” Bachtiar said during Elnusa’s media gathering.

Meanwhile, Elnusa VP of Strategic Planning & Business Strategy, Rifqi Budi Prasetyo, reported that the company’s revenue in 2023 reached IDR 12.56 trillion, up 2 percent from IDR 12.3 trillion in 2022.

The business revenue was primarily generated from the energy distribution and logistics services segment (53 percent), integrated upstream oil and gas services segment (34 percent), and supporting oil and gas services segment (13 percent).

For profits, Rifqi noted that Elnusa recorded a profit of IDR 503 billion in 2023, a 33 percent increase from IDR 378 billion in 2022. The profit for the first quarter of 2024 was IDR 183 billion.

Elnusa also plans to allocate a capital expenditure of IDR 526 billion in 2024 to continue fostering growth and innovation. (Uki Ruknuddin)