ELNUSA gets seismic contracts higher than last year

PT Elnusa Tbk (ELNUSA), a leading provider of energy services, has managed to win new contracts of seismic survey with a total value of US$ 84 million until June this year (2015), which are higher than contracts it got during the same period last year.

The seismic projects, which will be implemented by its business unit, Division of Geoscience, are located in several areas in West Java, and North Sumatra for 3D seismic surveys, and in North Kalimantan for 2D seismic survey, with a timeframe of contracts ranging from 8 to 21 months.

The company stated in a press release on Thursday that one seismic project had been started this month, while the other projects will be implemented during the third and fourth quarter this year.

?Amid the current situation, this is encouraging for us. The global market is still seeing a drop of oil prices. Even SKK Migas has cut the investments for upstream, including for explorations. But despite of the fact, we still managed to get new contracts and higher than contracts we got last year,? said TS Winarso, Deputy Director of Geoscience Service Line Elnusa.

The Elnusa?s Division of Geoscience Services is also expecteed this year to start the use of the wireless technology to increase competency and maintain market share of seismic market. The division is also able to conduct non-seismic services, such as gravity survey, magnetic survey, navigation positioning & construction support, geophysical & site survey, topographic & bathymetric survey, magnetotelluric, GGR (Geology & Geophysics Reservoir), and seismic data processing.

Editing by Benget Besalicto ST