PT Pertamina held a project to expose refinery fuel oil (BBM) just in Bontang, East Kalimantan It also marks the start of the selection registration partners. Pertamina optimistic Bontang project is quite competitive compared to other similar projects.
Director of Processing and Petrochemical Pertamina megaproject Hardadi Rachmat said the response of prospective corporate partners on Project Expose Bontang pretty good. So far there are 95 companies, with 12 of them is a large oil and gas company, which follows this partner selection process. Companies prospective partner is a refiner, a trading company, as well as financial institutions from all over the world, from the United States, Europe, East Asia, Middle East to Indonesia.
"We are targeting a strategic partner selection completed in late April and continued settlement bankability feasibility study (BFS) at the end of 2017," he said when opening the Grass Root Project Expose Bontang Refinery in Jakarta, Tuesday (28/2). He added that there are four major characteristics desired potential partners Pertamina.
Details, have a strong track record in the oil industry, its main operational reliability and execution of the project, can adjust to the structure and business model of the desired Pertamina, has a strong desire to accelerate the project and complete it in 2023, as well as provide compelling value to the project Bontang. "Limit filing the Request for Information document on April 2," said Senior Vice President of Business Development Pertamina Iriawan Yulianto.
After the filing of documents, the company will select and set a strategic partner by the end of April 2017. At present, the two companies will sign a frame work agreement (FWA) at the same time each deposit of US $ 5 million in a joint account as a statement of commitment.
Furthermore, bankability feasibility study (BFS) targeted for completion in late 2017. At that time, Pertamina and partners must deposit again to a joint account each costing US $ 10 million. The next phase, the company will partner and work on basic design (basic engineering design / BED) which is targeted for completion in the fourth quarter of 2018, detailed design (front end engineering design / FEED) is completed in the second quarter 2019, and started construction at the same time. "Construction of the refinery will be completed in July 2023 followed by COD (commercial on date / commercial operations)," he explained.
He explained, Bontang minimum capacity is set at 300 thousand barrels per day (bpd) and may turn out to be greater in discussions with partners. Furthermore, the refinery in want can produce gasoline by 60 thousand barrels per day and 124 thousand barrels of diesel oil. As for the volume of petrochemical products has not been determined. "Production of gasoline and jet fuel 100% will be taken Pertamina. While diesel, worst case, 100% exported. But this is marketnya interesting, "said Hardadi.
Incentive
Hardadi said Bontang guaranteed investments will be attractive to potential partners. This is because already the availability of land and most of the necessary equipment such as power generation and supply of nitrogen, and supporting infrastructure such as residential and banda air. So that the construction of this refinery is not starting from zero. Then, Bontang location near the Philippines, Papua New Guinea, and Australia is also an advantage for potential investors.
Some traders have expressed better take the supply from Bontang, rather than having from Singapore more distant. "Two traders have already expressed readiness to offtake the medium term and long term to market the Philippines, Australia, and Papua New Guinea," he said.
Other incentives, there are some who accordance with government regulations. First, the land can be leased for 30 years to a maximum of 50 years by the company and its partners. Then, the investor can choose between a tax holiday or tax allowance, "But it can not ask for both at once, had to choose one," he said.
The tax holiday is granted which ranges from 10- 100% for 5-15 years and can be extended up to 20 years, while the tax allowance which is a reduction of 30% on the investment tax assets for six years, accelerated depreciation and amortization, lower income taxes of less than 10% and additional compensation of 5-10 years in case of fiscal loss.
For the portion of stock ownership, Pertamina will enter with a minimum ownership of approximately 5% to 25% in the early stages. However, the company furthermore has the right or option to increase its holdings in the period to be agreed upon later. Thus, the partner will hold a majority stake, said Hardadi.
IN INDONESIAN
Pertamina Buka Seleksi Mitra Kilang Bontang
PT Pertamina menggelar project expose untuk kilang bahan bakar minyak (BBM) baru di Bontang, Kalimantan Timur Hal ini sekaligus menandai dimulainya pendaftaran seleksi calon mitra. Pertamina optimistis Proyek Kilang Bontang cukup kompetitif dibanding proyek lain sejenis.
Direktur Megaproyek Pengolahan dan Petrokimia Pertamina Rachmad Hardadi mengatakan, respons perusahaan calon mitra atas Project Expose Kilang Bontang cukup bagus. Sejauh ini terdapat 95 perusahaan, dengan 12 diantaranya merupakan perusahaan migas besar, yang mengikuti proses seleksi mitra ini. Perusahaan-perusahaan calon mitra merupakan perusahaan refinery, trading company, maupun institusi finansial yang berasal dari seluruh dunia, dari Amerika Serikat, Eropa, Asia Timur, Timur Tengah sampai Indonesia.
“Kami menargetkan seleksi strategic partner selesai pada akhir April dan dilanjutkan penyelesaian bankability feasibility study (BFS) pada akhir 2017,” kata dia ketika membuka Project Expose Grass Root Refinery Bontang di Jakarta, Selasa (28/ 2). Dia menambahkan, terdapat empat karakteristik utama calon mitra yang dikehendaki Pertamina.
Rincinya, memiliki rekam jejak yang kuat pada industri pengolahan minyak, utamanya kehandalan operasional dan eksekusi proyek, dapat menyesuaikan dengan struktur dan model bisnis yang dikehendaki Pertamina, memiliki keinginan kuat untuk percepatan proyek dan menyelesaikannya pada 2023, serta memberikan nilai menarik bagi proyek Kilang Bontang. “Batas pengajuan dokumen Request for Information yakni pada 2 April," ujar Senior Vice President Business Development Pertamina Iriawan Yulianto.
Setelah pengajuan dokumen, perseroan akan melakukan seleksi dan menetapkan mitra strategis pada akhir April 2017. Saat ini, kedua perusahaan akan meneken frame work agreement (FWA) sekaligus menyetor masing-masing US$ 5 juta dalam rekening bersama sebagai pernyataan komitmen.
Selanjutnya, bankability feasibility study (BFS) ditargetkan selesai akhir 2017. Saat itu, Pertamina dan mitra wajib menyetor lagi ke rekening bersama masing-masing US$ 10 juta. Tahap berikutnya, perseroan dan mitra akan mengerjakan desain dasar (basic engineering design/ BED) yang ditargetkan selesai pada kuartal keempat 2018, desain rinci (front end engineering design/ FEED) rampung pada kuartal kedua 2019, dan mulai konstruksi pada saat yang sama. “Konstruksi kilang ditargetkan selesai pada Juli 2023 dilanjutkan dengan COD (commercial on date/operasi komersil) ,” jelasnya.
Dia menjelaskan, kapasitas minimal Kilang Bontang ditetapkan sebesar 300 ribu barel per hari (bph) dan dapat berubah menjadi lebih besar dalam diskusi dengan mitra. Selanjutnya, kilang di inginkan dapat menghasilkan bensin sebesar 60 ribu bph dan diesel oil 124 ribu bph. Sementara untuk volume produk petrokimia belum ditentukan. “Produksi gasoline dan jet fuel 100% akan diambil Pertamina. Sementara diesel, worst case, 100% diekspor. Tetapi ini marketnya menarik,” kata Hardadi.
Insentif
Hardadi menuturkan, investasi Kilang Bontang di jamin akan menarik bagi calon mitra. Hal ini lantaran sudah tersedianya lahan dan sebagian peralatan yang diperlukan seperti pembangkit listrik dan pasokan nitrogen, serta infrastruktur pendukung seperti pemukiman dan banda udara. Sehingga pembangunan kilang ini tidak dimulai dari nol. Kemudian, lokasi Bontang yang dekat dengan Filipina, Papua Nugini, dan Australia juga menjadi keuntungan bagi calon investor.
Beberapa trader telah menyatakan lebih baik mengambil pasokan dari Bontang, daripada harus dari Singapura yang lebih jauh jaraknya. “Dua trader telah menyatakan siap offtake dengan medium term dan long term untuk pasar Filipina, Australia, dan Papua Nugini,” kata dia.
Insentif lainnya, ada beberapa yang sesuai dengan ketentuan pemerintah. Pertama, lahan dapat disewa selama 30 tahun sampai maksimal 50 tahun oleh perseroan dan mitranya. Kemudian, investor dapat memilih antara tax holiday atau tax allowance, “Tetapi tidak bisa meminta keduanya sekaligus, harus memilih salah satu,” ujarnya.
Tax holiday yang diberikan yakni berkisar 10- 100% selama 5-15 tahun dan dapat diperpanjang sampai 20 tahun, sementara tax allowance yakni pengurangan 30% atas pajak investasi aset selama enam tahun, percepatan depresiasi dan amortisasi, pajak penghasilan lebih rendah kurang dari 10%, dan kompensasi tambahan 5-10 tahun jika terjadi fiscal loss.
Untuk porsi kepemilikan saham, Pertamina akan masuk dengan minimal kepemilikan sekitar 5% hingga 25 % pada tahap awal. Namun, perseroan selanjutnya mempunyai hak atau pilihan untuk meningkatkan kepemilikan dalam periode yang akan disepakati kemudian. Sehingga, mitra akan memegang saham mayoritas, kata Hardadi.
Investor Daily, Page-9, Wednesday, March, 1, 2017
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