Pertamina Trans Kontinental net profit jumps 232%

Offshore services company PT Pertamina Trans Kontinental (PTK), a subsidiary of state-owned oil and gas firm PT Pertamina saw net profit last year jumped by 232 percent from the previous year, Bisnis Indonesia reported on Saturday.

The paper quoted President Director Subagyo Hari Moeljanto as saying that net profit in 2014 surged to Rp 191.44 billion from Rp 82.55 billion in 2013. ?The jump in net profit is a result of the company?s aggressiveness in developing business,? he said.

He added that revenue this year is targeted to reach Rp 2 trillion, while net profit Rp 312.78 billion, higher than the original target set in the 2015 work plan of Rp 242.22 billion.

Subagyo said that PTK is currently in the process of completing construction of five units of harbor tug 3150 HP vessels to serve Pertamina?s oil and gas terminal; two units of AHTS vessel to support Total E&P Indonesie?s exploration activities; two units of small vessel to serve the Donggi Senoro LNG terminal; and one unit of small 3,500 DWT oil tanker to support Pertamina?s fuel transport operation. ?All of the vessels have obtained contract effective 2015,? he said.

He added that PTK is aiming to get new businesses including the supply of FSO vessel to support the operation of CNOOC and Husky, management of shore base in cooperation with PT Petrosea Tbk, and development of a maritime industrial zone in Tanggamus Regency, Lampung. (*)