The retreat of refinery realization is also to anticipate the financial burden. Pertamina still bear the government's debt.
PT Pertamina is reviewing refinery development plan project planning of the Refinery Development Masterplan Program (RDMP) or New Grass Root Refinery (NGRR). Assessing the project for the self-sufficiency of fuel oil (BBM). Forced to do because of the financial aspect of a number of refinery projects built in parallel.
"It should be reorganized by looking at Pertamina's financial capability. Broadly speaking, because there are two refinery projects Partner. So we can not decide on our own, we need to talk with partners, "Pertamina President Director Elia Massa Manik said at a hearing with Commission VII DPR on Tuesday (6/6).
The two refinery projects employed by other investors are RDMP Cilacap refinery with Saudi Aramco and Tuban GRR refinery with Rosneft-Russia. With the review, a number of strategic projects have the potential to withdraw from the planning schedule. Nevertheless, Elia Massa Manik ensures the resignation of some refinery projects will not interfere with the achievement of national refinery target of 2 million barrels per day (bpd) per 2025.
He explained that the Cilacap RDMP refinery which was originally targeted to be completed by 2021 shifted to 2023. Then, the Tuban GRR refinery whose completion target in 2022 will retreat to 2024.
According to him, it is normal for the company to conduct a financial review with the partners considering the investment value of the refinery project is quite large. The investment value of the Cilacap refinery amounts to US $ 6 billion and the Tuban refinery reaches US $ 13 billion.
The retreat of refinery realization also anticipates the accumulation of financial burden. Moreover, Pertamina still bear the government's debt is around Rp 40 trillion, which until now has not been paid. The accumulation of government debt arose because of the fuel subsidy program.
Re-negotiate
Director of Processing and Petrochemical Megaproject Rachmad Hardadi added, now it is still negotiating with partners, namely Rosneft-Russia and Saudi Aramco-Saudi Arabia.
From the outcome of negotiations with Saudi Aramco, there is a change in terms and conditions with the production not entirely off (off take) Pertamina. It's just that there has been no decision related to the amount of share taken by investors.
For information, the joint venture development agreement (JVDA) with SOEs from Saudi Arabia was signed in December 2016. A study on environmental impact analysis (AMDAL) is targeted to be completed in kurtal Ill 2017, while the front end engineering design (FEED) stage starts in Q4 2017.
With Rosneft it will conduct further negotiations through the steering committee (SC). The establishment of Joint Venture (JV) with Russian investors has been signed since October 2016. Both aspects of Environmental Impact Analysis (AMDAL) and basic engineering design (BED) are targeted for completion in the Ill quarter of 2017.
"Given some partnership projects, there must be an agreement between both parties (including backward schedules). Except for Pertamina's own refineries, "said Hardadi.
IN INDONESIAN
Proyek Kilang Pertamina Bisa Molor
Mundurnya realisasi kilang juga untuk mengantisipasi beban finansial. Pertamina masih menanggung piutang pemerintah.
PT Pertamina mengkaji kembali perencanaan proyek kilang Refinery Development Masterplan Program (RDMP) ataupun New Grass Root Refinery (NGRR). Pengkajian proyek demi tujuan swasembada bahan bakar minyak (BBM) itu. terpaksa dilakukan karena aspek finansial terhadap sejumlah proyek kilang yang dibangun secara paralel.
“Harus ditata ulang dengan melihat kemampuan keuangan Pertamina. Secara garis besar, karena ada dua proyek kilang yang berpartner. Jadi kita tidak bisa menentukan sendiri, harus bicara dengan partner,” kata Direktur Utama Pertamina Elia Massa Manik dalam rapat dengar pendapat dengan Komisi VII DPR, Selasa (6/6).
Dua proyek kilang yang di kerjakan dengan investor lain ialah kilang RDMP Cilacap dengan Saudi Aramco dan kilang GRR Tuban dengan Rosneft- Rusia. Dengan adanya tinjauan kembali, sejumlah proyek strategis berpotensi mundur dari jadwal perencanaan. Kendati demikian, Elia Massa Manik memastikan mundurnya beberapa proyek kilang tidak akan mengganggu pencapaian target kapasitas kilang nasional 2 juta barel per hari (bph) per 2025.
Ia menjelaskan kilang RDMP Cilacap yang semula ditargetkan rampung 2021 bergeser jadi 2023. Kemudian, kilang GRR Tuban yang target penyelesaiannya di 2022 mundur menjadi 2024.
Menurutnya, wajar bila perseroan melakukan kajian ulang finansial bersama mitra kerja mengingat nilai investasi proyek kilang tergolong besar. Nilai investasi kilang Cilacap sebesar US$6 miliar dan kilang Tuban mencapai US$13 miliar.
Mundurnya realisasi pengerjaan kilang turut mengantisipasi penumpukan beban finansial. Apalagi Pertamina masih menanggung piutang pemerintah berkisar Rp 40 triliun yang hingga kini belum dibayarkan. Akumulasi utang pemerintah muncul lantaran adanya program subsidi BBM.
Negosiasi ulang
Direktur Megaproyek Pengolahan dan Petrokimia Rachmad Hardadi menambahkan, kini pihaknya masih bernegosiasi dengan mitra kerja, yakni Rosneft-Rusia dan Saudi Aramco-Arab Saudi.
Dari hasil negosiasi dengan Saudi Aramco, terdapat perubahan ketentuan (term and condition) dengan produksi tidak seluruhnya diserap (off take) Pertamina. Hanya saja belum ada keputusan terkait dengan besaran share yang diambil investor.
Sebagai informasi, joint venture development agreement (JVDA) dengan BUMN asal Arab Saudi diteken Desember 2016. Kajian terhadap aspek analisis mengenai dampak lingkungan (amdal) ditargetkan selesai pada kurtal Ill 2017, sedangkan tahap front end engineering design (FEED) dimulai kuartal IV 2017.
Dengan Rosneft pihaknya baru akan melakukan negosiasi lebih lanjut melalui steering comittee (SC). Pembentukan Joint Venture (JV) dengan investor asal Rusia sudah diteken sejak Oktober 2016. Baik aspek Analisis Mengenai Dampak Lingkungan (Amdal) maupun basic engineering design (BED) ditargetkan rampung pada kuartal Ill 2017.
“Mengingat beberapa proyek berpartner, tentu harus ada kesepakatan kedua belah pihak (termasuk memundurkan jadwal). Kecuali untuk kilang yang digarap sendiri oleh Pertamina,” kata Hardadi.
Media Indonesia, Page-18, Thursday, June 8, 2017
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