Sep 21, 2010

Elnusa seals US$24.48 mio new contract

Integrated oil and gas services provider PT Elnusa Tbk (ELSA) has secured contract of transition seismic acquisition project worth US$24.48 million.
In an official statement filed to Indonesia Stock Exchange (IDX) today, the project will be applied at two blocks in West Papua for 6 months starting from September 2010 to early 2011.
The company will implement the new contract through a joint operation with French company. Elnusa enrolled offshore seismic market in 2005 in a bid to expand business in upstream.
"In 2010, contribution from business of transition zone and marine seismic increases. During the first half, transition zone and marine seismic contributed US$89 million to Geoscience Services Division," said Elnusa Corporate Secretary Heru Samodra.  

Disclosure: No position at the stock mentioned above.

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