Petrosea Achieves Major Milestone in PBP Mining Project

Significant Progress in Overburden Removal

PT Petrosea Tbk (PTRO), a prominent player in Indonesia's mining services sector, has reported substantial progress in its collaboration with PT Pasir Bara Prima (PBP), a subsidiary of PT Singaraja Putra Tbk (SINI). The mining services project, located in Kapuas, Central Kalimantan, commenced on August 13, 2024, and has already achieved a significant milestone.

Key Project Details

• Project Location: Kapuas, Central Kalimantan
• Contract Value: Estimated Rp 17.4 trillion
• Contract Duration: Life of mine
• Scope of Work:
  • Overburden removal: 234.9 million BCM
  • Coal production: 26 million tons

Current Progress

As of the latest update, Petrosea has successfully completed overburden removal exceeding 7.2 million BCM. This achievement demonstrates the company's operational efficiency and commitment to delivering on large-scale mining projects. The contract represents a significant opportunity for Petrosea to showcase its capabilities in mining services, particularly in overburden removal and coal production.

Strategic Implications

This project not only contributes to Petrosea's revenue stream but also strengthens its position in the Indonesian mining services industry. The successful execution of this contract could potentially lead to further business opportunities and expansion in the sector.