Indonesia Investments updated the company profile of Elnusa, an integrated upstream oil and gas company. Core business of Elnusa, which is part of the state-owned Pertamina Group, involves geoscience, drilling and oilfield services. As the company is closely connected to the Indonesian government, it would benefit of the government's commitment to increase oil lifting. However, the current condition of Indonesia's oil and gas sector is still not conducive for large investments. Elnusa is listed as ELSA on the Indonesia Stock Exchange (IDX).

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Despite sliding net profit in full-year 2017, Indonesian upstream oil and gas company Elnusa saw its shares surge 42.47 percent to IDR 530 per share so far in 2018. The company's net profit fell 25.80 percent year-on-year (y/y) to IDR 246.14 billion (approx. USD $18.1 million) in 2017, while its revenue actually rose 37.56 percent (y/y) to IDR 4.98 trillion (approx. USD $366.2 million).

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Elnusa is an Indonesian company that provides services in the upstream oil & gas sector. Although the oil & gas sector has been plagued by low prices, thus curtailing corporate earnings, there is something that makes Elnusa's position strong. Recently, Elnusa purchased a seismic vessel that can be used for marine seismic surveys for oil & gas exploration. In Indonesia only a few companies have the skills and equipment for marine seismic activities (and only a few companies have a seismic vessel). Moreover, Elnusa's new vessel is a modern one that is equipped to conduct high quality surveys in deep sea.

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