2

Striving Performance inDynamic Atmosphere

Laporan tahunan PT Elnusa Tbk . 2011 . Annual Report

1

Laporan tahunan PT Elnusa Tbk . 2011 . Annual Report

Kondisi makro ekonomi dan industri migas maupun operasional internal yang sangat dinamis memberikan tantangan besar di tengah perjuangan untuk mempersembahkan hasil yang terbaik. Konsolidasian internal, perubahan struktural dan fundamental serta perbaikan operasional dan keuangan dilakukan untuk meningkatkan kinerja ke depan. Semangat baru untuk perbaikan dan keberanian untuk menggali dan mengembangkan sumber-sumber keunggulan dalam rangka menghadapi persaingan dan memacu produktifitas, diyakini dapat membangkitkan dan menumbuhkan kinerja serta meningkatkan nilai yang lebih baik bagi para pemegang saham dan pemangku kepentingan lainnya.

Dynamic condition of macroeconomy and oil & gas industry as well as internal operations have provided great challenges in the middle of the striving to dedicate the best results. Internal consolidation, structural and fundamental changes as well as operational and financial improvement have been conducted to increase future performance. New spirit for recovery and the courage for exploring and developing excellent resources in order to face the competitiveness and accelerate productivity, are believed to generate and raise the performance and improve better value for shareholders and other stakeholders.

Laporan tahunan PT Elnusa Tbk . 2011 . Annual Report

IKHTISAR UTAMA/Highlights

4/ 8/ 10/

12/

14/

15/

25/

26/

8/

22/

24/

36/

52/

71/

73/

75/

39/

62/

91/

38/

38/

5/

6/

17/

18/

31/

42/

66/

68/

33/

34/

ANALISIS DAN PEMBAHASAN MANAJEMEN/Management's Discussion & Analysis

PROFIL PERSEROAN/Corporate Profile

INFORMASI PEMEGANG SAHAM/Shareholder Information

LAPORAN MANAJEMEN /Management Report

Performa Penting 20112011 Key PerformanceStrategi & Fokus Manajemen untuk PerbaikanManagement Strategy & Focus for ImprovementArea Operasional Jasa Hulu MigasOperational Area of Upstream Oil and Gas Services

Tinjauan Umum - Perekonomian IndonesiaGeneral Review - Economy of IndonesiaIndustri Hulu Migas 20112011 Upstream Oil & Gas Industry

Sekilas PerseroanCorporate at a Glance Riwayat Singkat & Jejak LangkahCorporate Brief History & Milestones

Komposisi Kepemilikan SahamComposition of Share Ownership Kronologi Pencatatan SahamShare Listing ChronologyKinerja SahamStock Performance

Laporan Dewan KomisarisBoard of Commissioners' Report

Area Operasional Jasa Hilir MigasOperational Area of Downstream Oil and Gas ServicesArea Operasional Jasa Penunjang MigasOperational Area of Oil and Gas Support Services

Prospek 20122012 ProspectAksi Korporasi 20112011 Corporate ActionPembahasan Atas Kinerja BisnisAnalysis of Business Performance

Visi, Misi & NilaiVision, Mission & Values Struktur OrganisasiOrganization Structure

Kebijakan DividenDividend PolicyPenggunaan Dana Hasil IPOUtilization Of IPO ProceedLembaga dan Profesi Penunjang Pasar ModalSupporting Institution and Professional of Capital Market

Laporan DireksiBoard of Directors' Report

Peristiwa Penting 20112011 Event HighlightsPenghargaan 20112011 Awards

Ikhtisar Keuangan 20112011 Financial Highlights Ikhtisar Kinerja SahamStock Performance

Pembahasan Atas Kinerja KeuanganAnalysis of Financial Performance

Struktur KorporasiCorporate StructureBidang Usaha KorporasiCorporate Business Line

Akses Informasi & Data PerusahaanAccess to Corporate Information and Data

Tanggung Jawab Laporan Tahunan 2011Responsibility for 2011 Annual Report

DAFTAR ISI /TABLE OF CONTENTS

Laporan tahunan PT Elnusa Tbk . 2011 . Annual Report

110/

111/

113/

117/

118/

121/

124/

127/

163/

195/

196/

201/

206/

175/

164/

132/

134/

137/

138/

141/

143/

147/

166/

208/

185/

173/

210/

211/

170/

151/

153/

156/

157/

159/

161/

161/

IMPLEMENTASI TATA KELOLA PERUSAHAAN/Corporate Governance Report

PENGEMBANGAN SUMBER DAyA MANUSIA/Human Resources Development

INFORMASI TAMBAHAN/Additional Information

LAPORAN KEBERLANJUTAN/Sustainability Report

Prinsip & Komitmen GcGGCG Principle & CommitmentTujuan Penerapan GcGObjectives of GCG Implementation Mekanisme GcGGCG Mechanism Struktur dan Hubungan Tata KelolaStructure and Relation of Corporate GovernanceRapat Umum Pemegang SahamGeneral Meeting of ShareholdersDewan KomisarisBoard of Commissioners DireksiBoard of DirectorsKomite AuditAudit Committee

Konsep SDM PerseroanHR Concept of The CompanyProfil dan Jumlah Sumber Daya ManusiaProfile and Number of Human Resources

Jaringan PerseroanOffice NetworkProfil Dewan Komisaris Profile of The Board of CommissionersProfil DireksiProfile of The Board of DirectorProfil Komite AuditProfile of Audit Committee

Laporan Tanggung Jawab Sosial PerusahaanCorporate Social Responsibility Report

Komite Pemantau Pengembangan Usaha dan Manajemen RisikoBusiness Development and Risk Management Monitoring CommitteeKomite Nominasi Remunerasi dan SDMNomination Remuneration and HR CommitteeRemunerasi Dewan Komisaris dan DireksiRemuneration of Board of Commissioners and DirectorsSekretaris PerusahaanCorporate SecretaryPengawasan dan Pengendalian InternalInternal Control and SupervisionPengelolaan RisikoRisk management

Pelatihan danPengembangan SDMHR Training and DevelopmentPengelolaan Hubungan IndustrialManagement of Industrial Relations

Profil Komite Pemantau Pengembangan Usaha & Risk ManagementProfile of Business Development & Risk Management Monitoring Committee

Laporan Keselamatan, Kesehatan Kerja,dan Lindung Lingkungan Health, Safety & Environment Report

Manajemen MutuQuality ManagementTeknologi dan Sistem InformasiTechnology and Sistem of InformationEtika Bisnis dan Etika KerjaCode of ConductPelaporan PelanggaranViolation ReportingPerlindungan Terhadap Konsumen/PelangganConsumer /Customers ProtectionPerkara Hukum PerusahaanCorporate LitigationImplementasi GcG di Anak PerusahaanGCG Implementation in SubsidiariesRencana Pengembangan GcG di Tahun 2012GCG Development Plan for The Year 2012

Rencana pengembangan SDM yang BerkesinambunganSustainable HR Development Plan

Profil Komite Nominasi, Remunerasi dan SDMProfile of Nomination, Remuneration and HR CommitteeProfil Sekretaris PerseroanProfile of Corporate Secretary

LAPORAN KEUANGAN KONSOLIDASIAN AUDIT 2011/The Consolidated Financial Statements

4

-5,950945%4,7

Net Profit 2010 > IDR 12.97 billionRevenue 2010 > IDR 142.49 billion

EARNINGS PER SHARE 2010 > IDR 133.89 billionCompany Asset 2010 > IDR 174.66 billion

Net Profit 2011 > IDR 15.67 billionRevenue 2011 > IDR 174.66 billion

EARNINGS PER SHARE 2011 > IDR 159.22 billionCompany Asset 2011 > IDR 200.66 billion

Pendapatan Usaha Konsolidasian PT Elnusa Tbk (selanjutnya dalam buku ini disebut "Perseroan") tahun 2011 tetap tumbuh 11% dari tahun lalu. Kontribusi Jasa Hulu Migas, sebagai bisnis inti Perseroan mencapai 45% dan mengalami penurunan dibandingkan tahun lalu. Penurunan kontribusi Jasa Hulu Migas dikarenakan banyaknya rintangan dan tantangan operasional yang dihadapi Perseroan. Ditambah lagi dengan adanya provisi kerugian yang dicatat sesuai standar akuntansi keuangan yang berlaku pada akhirnya menurunkan kinerja profitabilitas hingga negatif. Namun di luar semua hal tersebut, Perseroan masih tetap fokus dalam pengembangan jasa hulu migas dengan menambah kapasitas di unit bisnis, khususnya oilfield services, dalam rangka meningkatkan pangsa pasar di tanah air.

Consolidated Operating Revenues of PT Elnusa Tbk (hereinafter in this book refer as "the Company") for the year 2011 continued to grow by 11% compare to last years figure. The contribution of upstream oil and gas services, as the Company's core businesses, reached 45% and experienced a decrease compared to last year's performance. The contribution decrease of Upstream Oil and Gas Services was due to many operational obstacles and challenges faced by the Company. Coupled with provision of loss according to applicable financial accounting standards then ultimately degraded the performance to negative profitability. However, beyond all those matters, the Company still remains focused on the development of upstream oil and gas services by increasing the capacity of business units, particularly the oilfield services, in order to increase market share in the country.

Performa Penting 2011/2011 Key Performance

Ikhtisar Utama

Pendapatan Usaha Konsolidasian (Rp Triliun)Consolidated Operating Revenues (IDR Trillion)

Kontribusi Pendapatan Usaha Jasa Hulu MigasContribution of Operating Revenues Upstream Oil & Gas Services

Pengeluaran Modal Jasa Hulu Migas (Rp Miliar)Capital Expenditure Upstream Oil & Gas Services (IDR Billion)

Laba Bersih Per Saham Dasar (Rp)Basic Earnings Per Share (IDR)

5

Fokus pada klien besar dengan reputasi baik. Focus on prime and reputable clients. Pengawasan ketat proposal proyek baru & penerapan

mitigasi risikonya. Strict monitoring of new project proposals and

implementation of risk mitigation Perbaikan project management untuk menjaga realisasi

proyek. Project management improvements to meet the project

realization. Transformasi fokus pada bisnis