Elnusa 9 months revenues up 7.1%

Oil and gas service company PT Elnusa Tbk posted revenues of Rp3.4 trillion in the nine months to September in 2011, which represents an increase of 7.1 percent compared to Rp3.2 trillion of corresponding period in the previous year (9M10).

The company said its downstream oil and gas services division was the largest revenue contributor in the period, amounting to Rp1.68 trillion, followed by integrated upstream oil and gas services division at Rp1.43 trillion and upstream oil and gas support services at Rp297.8 billion.

The company said the revenues were below the company?s target partly due to the delay of some of its projects. However, it did not provide details of the delayed projects.

Overall, the company's three business units lifted the company?s net profit to Rp47.5 billion, representing an increase of 310.9 percent from the same period last year.

Among its upstream oil and gas services projects is a US$33 million 1.5 years long project of 3D land seismic data acquisition in Subang, West Java. (roffie/romel)