Pertamina Review ONWJ Block Development

The company must replace the previous block manager's investment.

PT Pertamina reviews the feasibility of the oil and gas production business in the Offshore Northwest Java Block (ONWJ) in the northern waters of West Java. The study was conducted because the government implemented a new policy on the transition of oil and gas blocks.

"ONWJ will be subject to the regulation. The new contractor is obliged to pay the investment cost which has not been returned, "said Pertamina Upstream Director Syamsu Alam.

The obligation is contained in the Regulation of the Minister of Energy and Mineral Resources No. 26 of 2017. The regulation forced the new manager of oil and gas blocks to replace the investment costs that have been issued, Old managers. The goal is that the previous block operator does not hesitate to invest Even though his contract is about to expire.

Pertamina has 100 percent ownership of the block since January 18, 2017. In previous contracts, the company controlled 73.5 percent of the shares. The remaining is owned by Energi Mega Persada ONWJ Ltd, a subsidiary of Bakrie Group, with 24 percent and KUFPEC Indonesia BV at 2.5 percent.

Under the new regulation, Pertamina will pay replacement cost to Energi Mega Persada and KUFPEC as the previous ONWJ block shareholder.

But Syamsu did not want to mention how much the replacement cost that must be disbursed company. The amount of investment reimbursement must be approved by the Special Unit for Upstream Oil and Gas Business Activities (SKK Migas). The payment commitments will be stated in the agreement signed by the old contractor and the new contractor.

Payment obligations are also set forth in a decree on the management of oil and gas blocks issued by the Ministry of Energy. Pertamina also has to prepare big fund to replace investment in eight areas of oil and gas next year. This obligation is the government's assignment to Pertamina in Block Tuban, Sanga-Sanga Block, South East Sumatera Block, Ogan Komering Block, North Sumatra B Block, North Sumatra Offshore Block (NSO), Central Block, East-Kalimantan Block and Attaka Block. The area's concession period will be exhausted by 2018. "The regulation will also be applied in contracts ending in 2018," said Syamsu.

The Ministry of Energy and Mineral Resources asked Pertamina to complete the study. Therefore, the study will be a reference for the government to determine the additional oil and gas to the contractor

The ONWJ block is the first to use a gross split scheme.

Under this contract, Pertamina's share is 57.5 percent and gas share of 62.5 percent. The government only takes part of oil 42.5 percent and gas at 37.5 percent. Deputy Energy Minister Arcandra Tahar said the share of the results is final, without cutting the cost of operational replacement (cost recovery).

The government had promised an additional revenue share of 2.5 percent if oil prices reached US$ 85 per barrel. Conversely, if the price above it, the revenue share of 2.5 percent will be accepted by the state. "They have not given an official economic figure yet. If submitted and evaluated, if necessary add 5 percent, "said Arcandra.

IN INDONESIAN

Pertamina Kaji Ulang Pengembangan Blok ONWJ

Perusahaan harus mengganti investasi pengelola blok sebelumnya.

PT Pertamina mengkaji ulang kelayakan bisnis produksi minyak dan gas bumi di Blok Offshore Northwest Java (ONWJ) di perairan utara Jawa Barat. Studi dilakukan karena pemerintah menerapkan kebijakan baru mengenai transisi blok migas. 

“ONWJ akan terkena peraturan tersebut. Kontraktor baru berkewajiban membayar biaya investasi yang belum kembali," ujar Direktur Hulu Pertamina Syamsu Alam.

Kewajiban itu tertuang dalam Peraturan Menteri Energi dan Sumber Daya Mineral Nomor 26 Tahun 2017. Regulasi memaksa pengelola baru blok migas mengganti biaya investasi yang sudah dikeluarkan pengelola lama. Tujuannya adalah supaya operator blok sebelumnya tidak ragu mengeluarkan investasi meskipun kontraknya bakal kedaluwarsa.

Pertamina mengantongi 100 persen kepemilikan blok sejak 18 Januari 2017. Pada kontrak sebelumnya, perusahaan menguasai saham sebesar 73,5 persen. Sisanya dimiliki Energi Mega Persada ONWJ Ltd, anak usaha Grup Bakrie, sebesar 24 persen dan KUFPEC Indonesia BV sebesar 2,5 persen. 

Berdasarkan regulasi baru, nantinya Pertamina akan membayar biaya pengganti kepada Energi Mega Persada dan KUFPEC selaku pemegang saham blok ONWJ sebelumnya.

Namun Syamsu tidak mau menyebutkan berapa besaran biaya pengganti yang wajib dikucurkan perusahaan. Besaran penggantian investasi harus disetujui Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Komitmen pembayaran nantinya akan tertuang dalam perjanjian yang diteken kontraktor lama dan kontraktor baru. 

Kewajiban pembayaran juga termaktub dalam suraf penetapan pengelolaan blok migas yang diterbitkan Kementerian Energi. Pertamina juga harus menyiapkan dana besar untuk mengganti investasi di delapan area migas tahun depan. 

Kewajiban ini merupakan buntut penugasan pemerintah kepada Pertamina diBlok Tuban, Blok Sanga-Sanga, Blok South East Sumatera, Blok Ogan Komering, Blok North Sumatera B, Blok North Sumatera Offshore (NSO), Blok Tengah, Blok East- Kalimantan, dan Blok Attaka. Masa konsesi area tersebut akan habis pada 2018. “Peraturan itu juga akan diterapkan di kontrak-kontrak yang berakhir tahun 2018,” tutur Syamsu.

Kementerian Energi dan Sumber Daya Mineral meminta Pertamina segera merampungkan studi. Sebab, Studi akan menjadi acuan pemerintah untuk menentukan bagian migas tambahan kepada kontraktor Blok ONWJ menjadi wilayah pertama yang memakai skema bagi hasil kotor (gross split). 

Berdasarkan kontrak ini, bagian Pertamina adalah 57,5 persen dan bagian gas sebesar 62,5 persen. Pemerintah hanya mengambil bagian minyak 42,5 persen dan gas sebesar 37,5 persen. Wakil Menteri Energi Arcandra Tahar mengatakan bagian hasil tersebut sudah final, tanpa dipotong biaya pengganti operasional (cost recovery). 

Pemerintah sempat menjanjikan tambahan bagi hasil sebesar 2,5 persen jika harga minyak mencapai US$ 85 per barel. Sebaliknya, jika harga di atas itu, bagi hasil sebesar 2,5 persen akan diterima negara. “Mereka belum memberi angka keekonomian secara resmi. Kalau diajukan dan dievaluasi, kalau perlu tambah 5 persen,” ujar Arcandra.

Koran Tempo, Page-20, Thursday, April, 20, 2017