JAKARTA. PT Elnusa Tbk (ELSA), a subsidiary of PT Pertamina Hulu Energi (PHE) in energy services business, had realised IDR 285 billion of its capital expenditure (capex) until the end of September 2023.

Said amount is equal to 57% of ELSA’s total capex set for the fiscal year 2023, which reaches IDR 500 billion. This is seen as a positive signal for business prospect of the company.

Jayanty Oktavia Maulina, Manager Corporate Communication of ELSA, said that the company is still being selective in investment so it could hit target better. “This is carried out to promote sustainable business growth and continue to drive the reinforcement of operational excellence,” she mentioned in the information disclosure.

For the record, the biggest portion of ELSA’s capex realisation until September 2023 is upstream business, which covers Cementing Unit, Equipment Slickline, dan Electric Wireline (EWL) Onshore. Then, approximately 25% of the capex is allocated for energy distribution and logistics services, leaving 43% to supporting services segment and 5% to non-project needs.

Maulina then mentioned how ELSA will stay focus on solidifying and developing 3 of its core businesses. “In addition, the company also promotes government program in energy conversion, and as of now, is exploring new business development in new and renewable energy,” Maulina mentioned. (KR/ZH)