A unit of Indonesia's state oil company PT Pertamina expects to raise $30 million by selling stake to the public later this year, President Commissioner Iin
Arifin Takhyan said.
The unit, PT Elnusa, will sell 20 percent of new shares, Takhyan, also Vice President of Pertamina. Proceeds from the stake sale will be used to drill wells and expand its oil service business.
Elnusa owns 9 units plus two non-consolidated units. Elnusa has been in three line of business. Firstly, the company has been operating in upstream and downstream services. In upstream level the company has provided services on exploration, production, geo-physic data processing, integrated drilling and integrated oil and gas services.
In this sector, the company has four units -- Elnusa Geosains, Elnusa Drilling Services, Elnusa Petrofin and EWS Oilfield Services. Secondly, the company has the business on asset based oil and gas. The company's unit in this sector is Elnusa Bangkanai Energy Ltd.
The third services are on data and information for the companies on oil and gas industries. The units in this sector are PT Patra Nusa Data, PT Sigma Caraka Utama, ELMIK, PT Elnusa Rentrakom, PT Infomesia Nusantara and PT Patra Telekomunikasi Indonesia.
Tuesday, July 17, 2007
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