ELSA - PT. Elnusa Tbk

Rp 400

+2 (+0,50%)

JAKARTA - PT Elnusa Tbk (ELSA) had realised 40% of its capital expenditure (capex) throughout the first half of 2023. The total capex budget set by ELSA this year is IDR 500 billion. 

Jayanti Oktavia Maulina, Manager Corporate Communication of ELSA, said that the allocation of 40% of capex is for maintaining capacity and managing wells. Meanwhile, the remaining 35% will be allocated for business expansion, particularly in hydraulic work-over (HWU) projects, mobile wire testing, as well as energy distributions and logistics service for the construction and revitalisation of petroleum liquefied gas terminals.

"40% of it had been realised in the first half of 2023 for the acquisition of AWB Offshore's assets in order to enhance the capacity of upstream business," Maulina explained in the press release quoted Wednesday (26/7).

In addition to those, the capex was used for acquiring more tankers to reinforce the distribution and logistics service supply.

Until the end of this year, ELSA is optimistic about attaining 12% profit growth compared to the 2022 profit. Furthermore, the realisation of work contracts in the first half of 2023 had reached 90% (including carry-forward projects). (LK/ZH)