Elnusa wins contracts worth $24.2 million

Jakarta (ANTARA News) - Publicly-listed energy contractor PT Elnusa Tbk. in the second week of February won contracts worth US$24.2 million for the provision of services in the upstream oil and gas sector, its president director said.

"Given the contract, Elnusa has earned 73 percent of its income target for 2008," Eteng A Salam said on Thursday.

The subsidiary of state oil and gas company Pertamina has set itself the target of earning Rp1.4 trillion from upstream oil and gas services this year. Meanwhile, income from all its businesses was projected to reach Rp2.2 trillion.

Elnusa recently sold around 1,460 billion shares or 20 percent of its total shares to the public at Rp 400 each. The shares are currently trading at Rp460 each.