Petrosea?s net income drops in Q1

JSX listed oil and mining contractor PT Petrosea Tbk on Monday announced net profit of Rp13,326 billion (US$=Rp8,767) in the first quarter of 2002, down from Rp19,826 billion in last year?s same period, Investorindonesia.Com reported on Monday.

However Petrosea?s net revenues rose slightly to Rp210.547 billion in the first quarter of this year, from Rp195.210 billion in the corresponding period of 2001.

Petrosea, Indonesia?s major oil, gas and mining contractors, is 75 percent owned by Australian engineering giant Clough Engineering Group. (*)