Tender Procurements and Contract Opportunities Indonesia

JAKARTA: PT Indika Energy Tbk, through its two subsidiaries namely PT Petrosea Tbk and PT Tripatra Engineering, aiming for a contract worth over U.S. $ 1 billion in the sectors of mining and oil and gas contracting business.

Vice President of Investor Relations & Retina Rosabai Indika Energy said each child took aim corporate services projects above U.S. $ 500 million for various construction in the sector.

"Both companies are now still in the tendering process. When combined each company, no contract above U.S. $ 1 billion target. To Petrosea, contracts targeted at the mining sector and Tripatra in oil and gas," he said yesterday.

Based on the record business, construction tenders Tripatra refinery in Cilacap. In addition, children are also following the business tendering Indika engineering procurement and construction (EPC) Exxon Cepu. In order that, together with Samsung's Indika.

To date, the total project to be worked Tripatra reached U.S. $ 800 million, and the company could reap projected contracts whose value is significant at this year.

Special Petrosea, until recently run a contract amounting to U.S. $ 672 million, of which U.S. $ 315 from the contract value is derived and Gunung Bayan.

Throughout this year, Indika allocate capital expenditures of U.S. $ 93 million, and of that amount by 50% is used for capital expenditures Petrosea.

Together with PT Harum Energy, Petrosea currently also working on engaged. The company was expected to increase the capacity of coal at the mine site, and previous 1.2 million tonnes to 2.5 million tons this year.

On that occasion, Retina also mentions the company performance has increased significantly due to the financial statements have been consolidated Petrosea full.

Revenue is estimated to be at the level of U.S. $ 300 million-US $ 400 million and net income was in the range of U.S. $ 140 million.

"For exact numbers we are still completing the financial statements. Probably at the end of this month we will remove the numbers," he continued.

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