Here is the content of the proposed bid of Total EP and Inpex regarding the acquisition of Mahakam Block shares
Total E & P Indonesie and Inpex Corp. made a 39% share bid for Mahakam Block. The filing is in accordance with the permit of EMR Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan. Percentage of shares submitted Total EP is contrary to the decision Sudirman Said while still serving Minister of EMR.
At that time Sudirman only allowed Total EP and Inpex had 30% shares. While 60% of the shares are owned by Pertamina, and 10% is controlled by the East Kalimantan Regional Government.
Deputy Minister of Energy and Mineral Resources Arcandra Tahar stated that he has received a letter submitted by Total E & P Indonesie and Inpex. The contents are, the two companies agreed to participate in managing the Mahakam Block by 39% stake.
Not yet clear how the valuation of 39% stake in Mahakam Block. Pertamina is counting and will set its value. "Depending on the valuation of the Mahakam block, 39% is how much they have to pay, what asset value," said Arcandra.
The value of the asset will be calculated and adjusted according to the current market value. So that later Pertamina and Total E & P Indonesie will immediately coordinate. "So its business to business with Pertamina," said Arcandra.
Total E & P Indonesie and Inpex will share the same share of shares. Each will control 19.5% of Mahakam block shares. In addition to the desired share portion, Total E & P Indonesie also issued a number of incentives in the offer letter of the Mahakam block acquisition to the government.
According to Archandra, there are some incentives put forward by Total EP and Inpex. One of which is an invesment credit. Total E & P Indonesie proposed investment credit terms of 17% of the capital to be issued. Investment credit is an additional cost of capital return.
In the previous contract there is already an investment credit. But, there are several terms this time is different from the terms of the previous contract. Previously there are but the different term. Further incentives from the domestic marketing obligation (DMO) or domestic oil and gas allocation obligations.
Total E & P Indonesie asks DMO price according to market price, no longer use discount price. For information, the specified DMO is 25%. Meanwhile, Total E & P Indonesie and Inpex requested that DMO price not be discounted or become 100% according to market price. One more requested condition is, the depreciation of assets is only two years.
However, according to Arcandra, the demand for Total EP and lnpex awaits the result of asset valuation conducted by Pertamina as well as the availability of Total E & P Indonesie and Inpex to pay the asset valuation price that has been done.
"Must know how valuation he agree, no, with such valuation, if he does not agree, yes, void.First Director of Pertamina, Syamsu Alam stated that his side is still discussing the demand of Total E & P Indonesie and Inpex related to the desire to participate in the management of Mahakam Block reaches 39 % Clearly, we still follow the existing clause, ie 30% Total E & P and Inpex.
Head of Media Relations Total E & P Indonesie Kristanto Hartadi stated that the letter was sent more than three weeks ago to the Government of Indonesia cq Minister of Energy and Mineral Resources as a follow-up meeting of CEO Total Patrick Pouyane with the government and PT Pertamina on 6 April. The sender of the letter is Total and Inpex. Last Wednesday there was a meeting discussing the letter was attended by representatives of Total and Inpex in the Ministry of Energy and Mineral Resources. That's all I can say.
IN INDONESIAN
Total EP & Inpex Inginkan 39% Saham Blok Mahakam
lnilah isi tawaran yang diajukan Total EP dan Inpex sehubungan akuisisi saham Blok Mahakam
Total E&P Indonesie dan Inpex Corp mengajukan tawaran pembelian 39% saham Blok Mahakam. Pengajuan tersebut sesuai dengan izin Menteri ESDM Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan. Persentase saham yang diajukan Total EP tersebut bertolak belakang dengan keputusan Sudirman Said saat masih menjabat Menteri ESDM.
Saat itu Sudirman hanya mengizinkan Total EP dan Inpex memiliki 30% saham. Sementara 60% saham dimiliki Pertamina , dan 10% dikuasai oleh Pemerintah Daerah Kalimantan Timur.
Wakil Menteri ESDM Arcandra Tahar menyatakan sudah menerima surat yang diserahkan Total E&P Indonesie dan Inpex. Isinya adalah, kedua perusahaan itu sepakat ikut mengelola Blok Mahakam sebesar 39% saham.
Belum jelas berapa valuasi 39% saham Blok Mahakam. Pertamina sedang menghitung dan akan menetapkan nilainya. "Tergantung valuasi dari Blok Mahakam, 39% itu berapa mereka harus bayar, nilai aset berapa,” kata Arcandra.
Nilai aset tersebut akan dihitung dan disesuaikan dengan berdasarkan market value yang ada saat ini. Sehingga nanti Pertamina dan Total E&P Indonesie akan langsung berkoordinasi. “Jadi business to business-nya dengan Pertamina,” kata Arcandra.
Total E&P Indonesie dan Inpex akan berbagi porsi saham yang sama. Masing-masing akan menguasai 19,5% saham Blok Mahakam. Selain porsi saham yang diinginkan, Total E&P Indonesie juga mengaiukan sejumlah insentif dalam surat penawaran akuisisi saham Blok Mahakam ke pemerintah.
Menurut Archandra, ada beberapa insentif yang diajukan oleh Total EP dan lnpex. salah satunya adalah invesment credit. Total E&P Indonesie mengajukan syarat kredit investasi sebesar 17% dari modal yang akan dikeluarkan. Invesment credit adalah tambahan pengembalian biaya modal.
Pada kontrak sebelumnya memang sudah ada investment credit. Tapi, ada beberapa term kali ini berbeda dari term pada kontrak sebelumnya. Sebelumnya juga ada tapi beda term. Insentif selanjutnya dari sisi domestic marketing obligation (DMO) atau kewajiban alokasi migas untuk dalam negeri.
Total E&P Indonesie meminta harga DMO sesuai harga pasar, tidak lagi menggunakan harga diskon. Sebagai informasi, DMO yang sudah ditetapkan jumlahnya 25%. Sementara Total E&P Indonesie dan Inpex meminta agar harga DMO tidak di diskon atau menjadi 100% sesuai dengan harga pasar. Satu lagi syarat yang diminta adalah, depresiasi aset hanya dua tahun.
Namun menurut Arcandra, permintaan Total EP dan lnpex menunggu hasil valuasi aset yang dilakukan Pertamina serta kesediaan Total E&P Indonesie dan Inpex membayar dengan harga valuasi aset yang telah dilakukan.
"Harus tahu berapa valuasi dia agree, tidak ,dengan valuasi sekian, kalau dia tidak setuju, ya, batal. Direktur Hulu Pertamina, Syamsu Alam menyatakan, pihaknya masih membahas permintaan Total E&P Indonesie dan Inpex terkait keinginan ikut Serta dalam pengelolaan Blok Mahakam mencapai 39%. Yang jelas, saat ini kami masih tetap mengikuti klausul yang ada. Yakni 30% Total E&P dan Inpex.
Head Department Media Relations Total E&P Indonesie Kristanto Hartadi menyatakan, surat itu sudah dikirim lebih dari tiga pekan lalu kepada pemerintah RI cq Menteri ESDM sebagai tindak-lanjut pertemuan CEO Total Patrick Pouyane dengan pemerintah dan PT Pertamina pada 6 April lalu. Pengirim surat adalah Total dan Inpex. Rabu lalu ada pertemuan membahas surat itu dihadiri wakil-wakil dari Total dan Inpex di Kementrian ESDM. ltu saja yang bisa saya sampaikan.
Kontan, Page-14, Saturday, May, 13, 2017
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