JAKARTA - PT Elnusa Tbk (ELSA) has realised capital expenditure of IDR 188 billion or 36% of total allocated budget of IDR 526 billion this year.

Arief Prastyo Handoyo, Director of Business Development of ELSA, admitted that the capital expenditure has not been deployed optimally in the first half (H1) of 2024 due to its prudence in managing budget.

“In addition, we also observe the demand, as well as financing for fuel oil and LPG depot construction,” Handoyo said in the Public Expose Live 2024 via Zoom, Tuesday (27/8).

ELSA’s capex target has been set higher within the past three years since 2021. In 2023, capex realisation reached IDR 483 billion, up from IDR 394 billion in 2022 capex realisation, and higher than IDR 339 billion in 2021.

The capex realisation is allocated for upstream service sector, including geophone and promaz GRS, HWU drilling OFS, Mobile Welltest, and Wireline cable. Furthermore, it is allocated to energy and logistics distribution, as well as other supporting aspects.

In the second half (H2) of 2024, the management of ELSA will utilise the capex for workover rigs, downhole equipment (CO-log), cementing, CTU unit, lab cementing, as well as U-sit and e-cutter. (LK/ZH)