20240913_ELSA_Laporan Informasi dan Fakta Material_31726040_lamp2.pdf

Narahubung:
Jayanty Oktavia Maulina (Anty)
Manager of Corporate Communications
Graha Elnusa 16th Floor, Jl. TB Simatupang Kav. 1B, Jakarta 12560
Tel: (021) 7883 0850 | Fax: (021) 7883 0907 | Mob: +62813 1787 1717
E-mail: jayanty.maulina@elnusa.co.id


Press Release
Presenting CO Log Service for Idle Well Reactivation: Elnusa
    Ready to Increase National Oil and Gas Production
Jakarta, 13 September 2024 – PT Elnusa Tbk (Elnusa) continues to support upstream oil and gas (oil and gas) operations in Indonesia.
Most recently, Elnusa through its Business Wireline Services unit has introduced CO Log technology in an effort to help reactivate old and
idle oil wells that are widespread in Indonesia.

CO Log or Carbon-Oxygen Logging is a tool commonly used in the upstream oil and gas industry to monitor reservoirs and identify
remaining oil content that has the potential to be reproduced. Where this CO Log will measure the carbon and oxygen levels in the
formation. If carbon levels are found, there is hydrocarbon content, while if oxygen is found, what is contained is water.

Elnusa President Director Bachtiar Soeria Atmadja explained that the use of CO Log is quite effective in assessing the remaining oil content
in a well. Based on these calculations, oil and gas companies can then determine what method is appropriate for the well economically,
whether the well must be closed or can still be reproduced. The use of CO Log is relevant now considering the thousands of old and idle
wells in Indonesia. Moreover, oil and gas companies such as the Pertamina group have recently been intensifying reactivation activities
of old wells/idle wells.

"This CO Log tool is very useful for detecting the presence of hydrocarbons in the formation for mature areas, especially old wells or idle
wells that want to know whether there is still oil or hydrocarbons left in them," explained Bachtiar.

Elnusa has currently realized an investment in purchasing the latest generation of CO Log logging tools in order to develop the company's
business for carbon and oxygen content measurement services in a rock formation. "We are targeting the purchase of this tool for the
wide open market from the many old wells. This effort is a real step in Elnusa's support in increasing national oil and gas production,"
said Bachtiar.

Elnusa has actually been struggling with old generation CO Log technology since 2005 by collaborating with a CO Log subcontractor from
an international company. Now with the CO Log investment, Elnusa is ready to compete to enliven the CO Log service market which has
so far been dominated by foreigners. Moreover, Elnusa has also trained competent engineers who will become the backbone of Elnusa's
CO Log services. "For domestic companies, currently only Elnusa has entered the CO Log service. This will be a competitive advantage for
Elnusa to get jobs related to CO Log in Indonesia," said Bachtiar.

Elnusa will conduct a survey with the CO Log tool on Pertamina's old oil wells in Jambi, Prabumulih, Cirebon, East Java, to Kalimantan. If
the market response is good, Bachtiar said Elnusa will review the addition of 2-4 more CO Log units in 2025.

From this CO Log business unit, Bachtiar also hopes to open the door for other Elnusa business units to be able to enter along with the
opening of potential hydrocarbon potential that has so far been stored in idle wells from various oil and gas fields. "This CO Log service
will certainly help in realizing the target of one million barrels of oil production set by the Government," concluded Bachtiar.

About Elnusa (IDX: ELSA)
PT Elnusa Tbk (Elnusa) is a subsidiary of PT Pertamina Hulu Energi (PHE) which is part of the Pertamina Upstream Subholding, which operates in the field
of integrated energy services to provide total solutions. Elnusa has DNA of Resilience and innovation for more than 54 years in the energy industry, has
core competencies in upstream oil and gas services, energy distribution and logistics services and supporting services. The upstream oil and gas service line
includes Geoscience & Reservoir services (land, transition zone & marine and data processing), drilling & oil and gas field maintenance services (drilling &
workover), engineering, procurement, construction & operation maintenance (EPC-OM) services. The energy distribution and logistics service line includes
fuel transportation services, depot management and chemical sales. The supporting service line includes marine support services, fabrication, and data
management. Elnusa continues to be committed to implementing Corporate Governance in accordance with GCG and ESG principles to create a company
that is highly competitive, continues to grow and provides sustainable benefits for all stakeholders. Further information can be accessed at
www.elnusa.co.id