ExxonMobil chose to leave the East Natuna Block gas development project in the waters of the Riau Archipelago because it is considered incompatible with economies of scale.
Vice President of Public & Govemment Affairs ExxonMobil Indonesia, Erwin Maryoto, said that after completing the study together with the consortium, the company did not want to continue the activities and discussions about East Natuna.
ExxonMobil with PTT EP Thailand and PT Pertamina as the consortium leader conducted Technology and Market Review (TMR) since early 2016.
The study undertakes to identify technology as well as commercial aspects so that projects can be developed according to economies of scale. However, from the market review completed in June 2017 it was found that the project was not worth the investment.
"After completing the technology and market review and reviewing its findings, ExxonMobil no longer wishes to continue the discussion or further activities related to East Natuna," he said.
The arrival of Senior Vice President of ExxonMobil Corporation Mark W. Albers and United States Vice President Michael R. Pence in April 2017 was closed without any new investment in the upstream oil and gas sector of the US company or bringing positive news about the East Natuna project.
In fact, the government wants the development of gas in Natuna waters can be realized because of its leading location and large gas potential. By the end of 2016, there was an option to immediately sign a cooperation contract. The way, separate development of oil and gas because it is feared the development of oil structures will disrupt the gas structure. However, it was canceled because the study of market and technology is still in process.
Based on data from the Ministry of Energy and Mineral Resources, East Natuna Block holds a potential of 222 trilion cubic feet (tcf) with only 46 tcf of which gas can be produced. The reason, 72% of the composition is carbon dioxide.
Development of East Natuna is not the first time. The cooperation contract of Natuna D-Alpha Block was signed in 1980. After the contract expires, the government first officially appoints Pertamina to develop the Natuna D-Alpha Block in the Letter of the Minister of Energy and Mineral Resources. 3588/11 / MEM / 2008 dated June 2, 2008 on the Status of Natuna D Alpha Gas.
After that, Pertamina invited partners and then signed the principle of agreement (POA) East Natuna Block on August 19, 2011 together with Esso Natuna Limited, affiliated company ExxonMobil and PTT EP Thailand.
The signing aims to continue the process of preparing for a new cooperative contract, the POA which should have ended by the end of 2015 and then extended 30 months to complete the market and technology review. The study was accelerated and completed in mid-2017.
Decisions in East Natuna will not affect other activities. Furthermore, it is still committed to continue investing in Indonesia. Erwin also said ExxonMobil is still open with other new opportunities in Indonesia.
Based on data from SKK Migas, currently, ExxonMobil through Mobil Cepu Limited becomes operator in Cepu Block. Banyu Urip Field oil production in Cepu Block contributed 25% of national oil production of 808,000 barrels per day (bpd) with the realization of 199,800 bpd by the end of June 2017.
"We remain committed to ExxonMobil's operations in Indonesia and continue to seek and assess new opportunities in Indonesia," he said.
ECONOMIC SCALE
Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) IGN Wiratmaja Puja said in his official letter to the Minister of Energy and Mineral Resources Ignasius Jonan, East Natuna gas development is not suitable with economies of scale because the gas price generated from the field is difficult to buy the market .
By using the production sharing contract (PSC) scheme and the current situation, upstream gas prices from East Natuna are more than US $ 10 per MMBtu. That is, the gas price does not include the cost of delivery through the pipeline and the cost of liquefaction gas when it will be converted into liquefied natural gas / LNG.
"Which is definitely more than US $ 10. The price of gas in the upstream, "he said.
Upstream Director of Pertamina Syamsu Alam said, with no longer involved ExxonMobil will be sought by other partners who are likely to develop Natuna gas. According to him, the company will not be able to develop alone gas field targeted to start production in 2027 because of the costs and risks that are too high.
"Of course Pertamina is not possible to develop itself, too big the cost and the risk," he said.
He considered that although the consortium members are no longer the same, the results of the study will still be used as a reference for the development of East Natuna. Related to partners to be coupled, Syamsu said, there have been several international oil companies (IOC) that are interested to develop Natuna gas.
"There are some IOCs who are also interested to participate in developing the block," said Syamsu.
IN INDONESIA
ExxonMobil Hengkang dari East Natuna
ExxonMobil memilih hengkang dari proyek pengembangan gas Blok East Natuna di perairan Kepulauan Riau karena dinilai tidak sesuai dengan skala keekonomian.
Vice President Public & Govemment Affairs ExxonMobil Indonesia Erwin Maryoto mengatakan, setelah menyelesaikan kajian bersama dengan konsorsium, perusahaan tidak ingin melanjutkan kegiatan maupun pembahasan soal East Natuna.
ExxonMobil bersama PTT EP Thailand dan PT Pertamina sebagai pemimpin konsorsium melakukan kajian teknologi dan pasar (technology and market review/TMR) sejak awal 2016.
Kajian yang dilakukan benujuan untuk mengidentifikasi teknologi juga aspek komersial sehingga proyek bisa dikembangkan sesuai dengan skala ekonomi. Namun, dari kajian pasar yang diselesaikan pada Juni 2017 itu didapatkan bahwa proyek tidak layak investasi.
“Setelah menyelesaikan technology and market review dan mengkaji temuannya, ExxonMobil tidak lagi berkeinginan untuk meneruskan pembahasan atau kegiatan lebih lanjut terkait East Natuna," ujarnya
Kedatangan Senior Vice President ExxonMobil Corporation Mark W. Albers dan Wakil Presiden Amerika Serikat Michael R. Pence pada April 2017 ditutup tanpa adanya investasi baru di sektor hulu migas dari perusahaan asal Amerika Serikat itu atau membawa kabar positif tentang proyek East Natuna.
Padahal, pemerintah menginginkan agar pengembangan gas di perairan Natuna bisa segera terealisasi karena lokasinya yang terdepan dan potensi gasnya yang besar. Pada akhir 2016, sempat terdapat opsi untuk segera meneken kontrak kerja sama. Caranya, pengembangan terpisah antara minyak dan gasnya karena dikhawatirkan pengembangan struktur minyak akan mengganggu struktur gas.
Namun, hal itu batal dilakukan karena kajian pasar dan teknologi masih dalam proses.
Berdasarkan data Kementerian ESDM, Blok East Natuna menyimpan potensi sebesar 222 trilion cubic feet (tcf) dengan hanya 46 tcf gas di antaranya yang bisa diproduksi. Pasalnya, 72% komposisinya adalah karbondioksida.
Pengembangan East Natuna bukan yang pertama kalinya. Kontrak kerja sama Blok Natuna D-Alpha diteken pada 1980. Setelah kontrak berakhir, pemerintah pertama kalinya secara resmi menunjuk Pertamina untuk mengembangkan Blok Natuna D-Alpha dalam Surat Menteri ESDM No. 3588/11/ MEM/2008 tertanggal 2 Juni 2008 tentang Status Gas Natuna D Alpha.
Setelah itu, Pertamina mengajak mitra dan kemudian menandatangani prinsip-prinsip kesepakatan (principle of agreement/POA) Blok East Natuna pada 19 Agustus 2011 bersama Esso Natuna Limited, perusahaan afiliasi ExxonMobil dan PTT EP Thailand.
Penandatanganan itu bertujuan untuk melanjutkan proses persiapan kontrak kerja sama yang baru, POA yang seharusnya berakhir pada akhir 2015 itu kemudian diperpanjang 30 bulan untuk menyelesaikan kajian pasar dan teknologi. Kajian pun dipercepat dan selesai di medio 2017.
Keputusan di East Natuna tidak akan mempengaruhi pada kegiatan lainnya. Lebih lanjut, pihaknya masih berkomitmen melanjutkan investasi di Indonesia. Erwin pun menyebut ExxonMobil masih terbuka dengan peluang-peluang baru lainnya di Indonesia.
Berdasarkan data SKK Migas, saat ini, ExxonMobil melalui Mobil Cepu Limited menjadi operator di Blok Cepu. Produksi minyak Lapangan Banyu Urip di Blok Cepu berkontribusi sebesar 25% dari produksi minyak nasional yakni 808.000 barel per hari (bph) dengan realisasi 199.800 bph pada akhir Juni 2017.
“Kami tetap berkomitmen pada operasi ExxonMobil di Indonesia dan terus mencari dan mengkaji peluang baru di Indonesia,” katanya.
SKALA EKONOMI
Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) IGN Wiratmaja Puja mengatakan dalam Surat resminya kepada Menteri ESDM Ignasius Jonan, pengembangan gas East Natuna tidak sesuai dengan skala ekonomi karena harga gas yang dihasilkan dari lapangan tersebut sulit untuk bisa dibeli pasar.
Dengan menggunakan skema kontrak bagi hasil produksi (production sharing contract/PSC) dan situasi saat ini, harga gas di tingkat hulu dari East Natuna lebih dari US$10 per MMBtu. Artinya, harga gas tersebut belum termasuk biaya penghantaran melalui pipa maupun biaya pencairan gas bila akan diubah menjadi gas alam cair/LNG.
“Yang jelas lebih dari US$10. Harga gas di hulunya,” katanya.
Direktur Hulu Pertamina Syamsu Alam mengatakan, dengan tidak lagi terlibatnya ExxonMobil akan dicari mitra-mitra lain yang berpeluang untuk mengembangkan gas Natuna. Menurutnya, perseroan tidak akan bisa mengembangkan sendirian lapangan gas yang ditarget mulai berproduksi pada 2027 itu karena biaya dan risikonya yang terlalu tinggi.
“Pastinya Pertamina tidak mungkin mengembangkan sendiri, terlalu besar biaya dan risikonya," ujarnya.
Dia menilai bahwa kendati anggota konsorsium tidak lagi sama, hasil kajian masih akan dijadikan acuan pengembangan East Natuna. Terkait dengan mitra yang akan digandeng, Syamsu menuturkan, telah terdapat beberapa perusahaan migas internasional (international oil company/IOC) yang berminat turut mengembangkan gas Natuna.
"Ada beberapa IOC yang juga tertarik untuk ikut mengembangkan blok tersebut,” kata Syamsu.
Bisnis Indonesia, Page-30, Wednesday, July 19, 2017
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