Elnusa eyeing $90m barge, seismic contracts

IDX-listed oil, gas services company PT Elnusa Tbk is eyeing to bag US$90 million contract within two month?s time from Pertamina and Total E&P Indonesie.

Company president Suharyanto told reporters that the works are for barges rental and seismic works. Elnusa, he said is targeting to clinch US$300 million in new upstream services contract this year.

Suharyanto also said that the first Indonesian-flagged seismic vessel which is operated by the company is on its way to Indonesia from Vietnam.

He said the vessel, which will be renamed Elnusa Finder, will arrive in East Java mid May and will immediately start working for Husky Energy in E.ast Java water.

Suharyanto also said that Elnusa is planning to take over the entire interest at Ramok TAC block, a small oil field onshore South Sumatra, when the contract is over in 2014. The block is currently operated By Singapore firm Tradewinds.

State oil, gas firm PT Pertamina (peresro) is controlling shareholder of Elnusa.(godang)