PT Elnusa Tbk (Elnusa), a national company providing energy services, made it through 2020 by recording a positive performance amidst the triple shock that loomed throughout the year.

The Company is consistently able to maintain its performance by optimizing its portfolio diversification strategy.

Elnusa's Finance Director, Hery Setiawan, said, Elnusa's diversity of service portfolios supported one another in maintaining the 2020 consolidation achievement.

"Although the impact of the triple shocks, namely the COVID-19 pandemic, fluctuations in world oil prices and the weakening of the rupiah exchange rate, was quite strong for the Company, we were still able to record our 2020 financial performance well," he said, on Tuesday (2/3).

In the upstream oil and gas services, amidst the upstream sector's uncertainty, this segment can still maintain its performance armed with the total solution services it has. Elnusa completed several projects without significant obstacles, and some will continue until early 2021, namely the Jambi Merang 3D seismic survey, the Tuban 3D Seismic Survey, and the Batuk Utak 3D Seismic Survey. It has increased the Hydraulic Workover Unit (HWU) and Electric Wireline Logging (EWL) in national oil and gas blocks.

In the Energy Distribution and Logistics segment, fuel transportation and trading services for inmar fuels experienced a little pressure. However, on the other hand, the Depo Management and Chemical Trading business units were able to grow well due to new depot management and an increase in chemical sales to meet the needs of oil drilling activities.

Meanwhile, supporting services continued to show their best performance in marine support services, oil and gas equipment fabrication, and storage document warehousing, which had grown significantly. Throughout 2020, Elnusa posted consolidated operating revenues of Rp7.7 trillion.

This consolidated operating income was contributed through the upstream oil and gas services segment with 53%, energy distribution, logistics services by 43%, and support services by 4%. In terms of consolidated gross profit, Elnusa recorded Rp736 billion. It booked an operating profit of Rp431 billion and a net profit of Rp249 billion, mostly from the energy distribution and logistics services segment.