A Brief History of The Company
The company was established under the name PT Electronika Nusantara based on Deed of Establishment No. 18 on January 25, 1969.
PT Elnusa Tbk ("the Company") was established under the name PT Electronika Nusantara based on Notarial Deed No. 18 dated January 25, 1969 from Tan Thong Kie, S.H., as amended by Notarial Deed No. 10 dated 13 February 1969 from the same notary. This deed of establishment, which constitutes the Company's Articles of Association, has been approved by the Minister of Justice of the Republic of Indonesia through Decree No. J.A.5 / 18/24 dated February 19, 1969, and has been announced in the State Gazette of the Republic of Indonesia No. 35, Additional No. 58 on May 2, 1969.
The parent entity of the Company is PT Pertamina (Persero) and the ultimate parent entity is the Government of the Republic of Indonesia. The Company started its business as an operational proponent of PT Pertamina (Persero), primarily in providing services including maintenance and repairs in the electronic communication equipment, navigation equipment and radar systems used by Pertamina-owned vessels and foreign oil vessels that have cooperation agreements with State-Owned Enterprises (BUMN) in the oil and gas sector.
The company began to explore business opportunities in the oil and gas industry by forming a Seismic Data Processing Division. The company has also begun to complement its services by launching the Scientific Data Center, Integrated Oil Communication System (IOCS), seismic data acquisition services, reservoir stimulation services and the petroleum sector, specifically optimizing refinery processes.
The company continued to expand its business to the sector of oil and gas data management and storage, oilfield services, and the domestic fuel distribution business through the establishment of PT Sigma Cipta Utama, PT Elnusa Workover Hydraulic and PT Elnusa Petrofin. In 1984, the Company name PT Electronika Nusantara changed to PT Elnusa.
The company strengthened its existence in the oil and gas industry by establishing PT Elnusa Drilling Services which serves integrated drilling services and acquires PT Purna Bina Nusa, which is now named PT Elnusa Fabrication Construction and is based in Batam.
To be more focused as an integrated upstream oil and gas service provider, the Company combined 4 (four) subsidiaries: PT Elnusa Geosains, PT Elnusa Drilling Services, PT Sinar Riau Drillindo, and PT Elnusa Workover Services.
The Company made an Initial Public Offering (IPO) and listed its shares on the Indonesia Stock Exchange with the ELSA stock code.
The Company divested shares in several companies which are not the Company's core business, to strengthen the business in oil and gas services.
The Company convened the Turnaround program to enhance its performance in all aspects of business, operations and strengthen the implementation of corporate culture.
The company launched the 'year of Human Resources', and established PT Elnusa Trans Samudera (ETSA). In 2013, the Company also redefined its vision and mission and established itself as a provider of Energy Services followed by a change of logo.
Strengthening the operational, organizational and internal control functions as well as evaluating and redefining all of the Company's products / services. Moreover, the Company established PT Elnusa Geosains Indonesia and PT Elnusa Oilfield Services as part of the company's risk mitigation.
The Company accelerated operational performance and focused on non-asset-based services in the upstream oil and gas service line, also boosted market share growth through portfolio diversification.
Recorded the highest revenue in history through strengthening portfolio diversification. The performance of energy distribution and logistics services is nurtured, in line with adjustment of the upstream oil and gas service in the middle of equilibrium transition.