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Company News
Petrosea Acquires US$ 31 Million Contract
Bisnis Indonesia, page B2 (18-July-2006)
PT Petrosea Tbk has acquired a contract to peel the land surface in East Kalimantan from PT Gunungbayan Pratamacoal worth US$ 31 million. This will be in the form of a long term contract.
Petrosea’s Capital Expenditure Reaches US$ 80 Million
Kompas, page 21 (8-June-2006)
PT Petrosea Tbk has allocated capital expenditure for the next three years reaching US$ 80 million. This capex covers the building of a number of oil refineries plus the supply of other facilities. This capital expenditure is so the company can reach its company income target of Rp.2.568 trillion in 2010, which will be twice as much as 2005’s income of Rp.1.284 trillion.
The company’s income rose significantly by 46.6 percent in 2005 compared to 2004 in the amount of Rp.877.747 billion. Petrosea’s profit also rose from Rp.57.703 billion in 2004 to Rp.83.617 billion in 2005. As a result, the profit per share also increased from Rp..214 per note in 2004 to Rp771 per note in 2005. Out of 2005’s net profit, the company has shared interim dividends in the amount of Rp.300 per note in the beginning of December 2005.
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