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Wednesday, July 19, 2017

Pertamina's Oil and Gas Production Up 8.12%



PT Pertamina succeeded to record oil and gas production reached 692 thousand barrels of oil equivalent per day / boepd until June or 8.12% increase compared to the same period last year 640 thousand boepd. This figure is only slightly below this year's target of 693 thousand boepd.

Upstream Director of Pertamina, Syamsu Alam, said that the realization of oil and gas production is recorded up by the first semester of this year. The realization of oil production amounted to 343 thousand barrels per day (bpd), up 12.45% from the same period last year of 305 thousand bpd. Then gas production edged up by 4.34%, from about 1,938 million cubic feet per day / mmscfd to 2,022 mmscfd.

"So for oil and gas production from January to June this year that is 692 thousand boepd, up compared to January-March 2016 amounted to 640 thousand boepd," he said in Jakarta, Sunday (16/7).

According to Alam, the highest production increase was recorded from the oil and gas block of the company overseas managed by Pertamina International E & P (PIEP). PIEP's oil and gas production rose 28.81 percent from 118 thousand boepd in the first half of 2016 to 152 thousand boepd in the first half of 2017.

In detail, the realization of oil and gas PIEP production until June was recorded at 104 thousand bpd and gas 281 mmscfd. While details of oil production in the same period last year amounted to 84 thousand bpd and gas 197 mmscfd.

"The increase in production is because the oil and gas production from Maurel & Prom has been booked at Pertamina," he said.

As is known, Pertamina has completed the acquisition of Maurel & Prom last year. But then the company bought shares owned by other shareholders so managed to control the stock of Maurel & Prom up to 72.65%. Maurel & Prom has oil and gas assets scattered in Gabon, Nigeria, Tanzania; Namibia, Colombia, Canada, Myanmar, Italy, and other countries.

However, the main assets that have been produced are in Gabon, Nigeria and Tanzania. Maurel & Prom's oil and gas production is targeted to reach 30 thousand boepd.

Senior Vice President of Strategic Planning and Operations Evaluation Meidawati added that oil and gas production abroad also supported additional oil and gas blocks in Algeria and Iraq. Apart from abroad, additional production is also obtained from the Offshore Block North West Java (ONWJ) and Block Cepu.

"The increase in oil production from ONWJ Block because PI (participating interest) rose to 100%," he said.

Nevertheless, according to data shown by Nature, there has been no additional realization of oil and gas production from this year's acquisition activity. In 2017, Pertamina aims to obtain additional oil and gas production of 23 thousand boepd from the acquisition, namely oil 14 thousand bpd and gas 54 mmscfd.

This year, Syamsu Alam expects it will be difficult to complete acquisitions or auctions to add new oil and gas blocks abroad. "The process is not finished yet. In Iran and Russia it seems that no one is overtaken this year, "he said.

As is known, Pertamina initially targeted to add oil and gas blocks in Iran and Russia. In Iran, Pertamina will follow an auction held by the Iranian Government to become the manager of two blocks at once, Ab-Teymour Field and Mansouri which is estimated to have oil reserves of 5 billion barrels. In Russia, Rosneft said it had signed a memorandum of understanding with Pertamina for cooperation working on The Northern Tip of Chayvo Field and Russkoye Field.

Reach Target 4

If compared to the target, the realization of oil and gas production until June is still slightly below target. Oil and gas production 692 thousand new boepd 99.8% of target 693 thousand boepd. The actual gas production of 2,022 mmscfd is also below the target of 2,080 mmscfd. But the realization of oil production of 343 thousand bpd is actually 2.6% higher than the target of 334 thousand bpd. Meidawati is optimistic that this year's oil and gas production target will be achieved.

"Because at this time some work is under way, such as drilling development, reactivation wells, and others," he said.

In addition, the Cepu Block is said to be the mainstay to realize the 2017 oil and gas production target. Pertamina has budgeted US $ 3.44 billion to fund various activities to achieve the 2017 oil and gas production target. In detail, Pertamina will drill 28 exploration wells and 129 development wells, Re-work 31 wells, and run 5,000 well maintenance jobs.

Syamsu Alam said that the company's oil and gas production is targeted to increase annually to reach 1.9 million boepd by 2025. The increase in production is derived from the optimization of existing assets, the acquisition of oil and gas blocks, and the acquisition of oil and gas assets in other countries. This step is needed to minimize the difference between national oil and gas production and demand in the coming years.

"Our performance from 2008 to 2016, oil and gas production continues to grow. So we can prove that we can still grow, "he said.

Going forward, Pertamina targets oil and gas production to grow steadily at 8% per year, while gas reserves increase by 4.4% per year.

IN INDONESIA

Produksi Migas Pertamina Naik 8,12%


PT Pertamina berhasil membukukan produksi minyak dan gas bumi mencapai 692 ribu barel setara minyak per hari/boepd sampai Juni lalu atau naik 8,12% jika dibandingkan realisasi periode yang sama tahun lalu sebesar 640 ribu boepd. Angka ini hanya sedikit di bawah target tahun ini sebesar 693 ribu boepd.

Direktur Hulu Pertamina Syamsu Alam mengatakan, baik realisasi produksi minyak maupun gas perseroan, masing-masing tercatat naik sampai semester pertama tahun ini. Realisasi produksi minyak yakni sebesar 343 ribu barel per hari (bph), naik 12,45% dari realisasi periode yang sama tahun lalu 305 ribu bph. Kemudian produksi gas naik tipis sebesar 4,34%, yakni dari sekitar 1.938 juta kaki kubik per hari/mmscfd menjadi 2.022 mmscfd.

“Sehingga untuk produksi migas Januari-Juni tahun ini yakni 692 ribu boepd, naik dibandingkan dari Januari-Maret 2016 sebesar 640 ribu boepd,” kata dia di Jakarta, Minggu (16/7).

Menurut Alam, kenaikan produksi tertinggi tercatat dari blok migas perseroan di luar negeri yang dikelola Pertamina Internasional E&P (PIEP). Produksi migas PIEP naik hingga 28,81%, yakni dari 118 ribu boepd pada semester pertama 2016 menjadi 152 ribu boepd pada semester pertama 2017. 

Rincinya, realisasi produksi migas PIEP sampai Juni lalu tercatat sebesar 104 ribu bph dan gas 281 mmscfd. Sementara rincian produksi minyak pada periode yang sama tahun lalu sebesar 84 ribu bph dan gas 197 mmscfd.

“Kenaikan produksi ini karena produksi migas dari Maurel&Prom sudah dibukukan di Pertamina,” kata dia.

Seperti diketahui, Pertamina telah merampungkan akuisisi Maurel&Prom pada tahun lalu. Namun kemudian perseroan membeli saham milik pemegang saham lain sehingga berhasil menguasai saham Maurel&Prom hingga 72,65%. Maurel&Prom memiliki aset migas yang tersebar di Gabon, Nigeria, Tanzania; Namibia, Kolombia, Kanada, Myanmar, Italia, dan negara lainnya.

Namun, aset utamanya yang telah berproduksi yakni di Gabon, Nigeria, dan Tanzania. Produksi minyak dan gas Maurel&Prom ini ditargetkan mencapai 30 ribu boepd.

Senior Vice President Strategic Planning and Operation Evaluation Meidawati menambahkan, produksi migas luar negeri meningkat juga ditopang tambahan dari blok migas di Aljazair dan lrak. Selain dari luar negeri, tambahan produksi juga diperoleh perseroan dari Blok Offshore North West Java (ONWJ) dan Blok Cepu.

“Kenaikan produksi minyak dari Blok ONWJ karena PI (participating interest/ hak partisipasi) naik menjadi 100%,” tuturnya.

Meski demikian, menurut data yang ditunjukkan Alam, belum ada realisasi tambahan produksi migas dari kegiatan akuisisi tahun ini. Pada 2017 ini, Pertamina menargetkan dapat memperoleh tambahan produksi migas sebesar 23 ribu boepd dari akuisisi, yakni miyak 14 ribu bph dan gas 54 mmscfd.

Pada tahun ini, Syamsu Alam memperkirakan akan sulit merampungkan akuisisi ataupun lelang untuk menambah blok migas baru di luar negeri. “Prosesnya saja belum selesai. Di Iran maupun Rusia sepertinya tidak ada yang terkejar tahun ini," ujar dia.

Seperti diketahui, Pertamina awalnya menargetkan dapat menambah blok migas di Iran dan Rusia. Di Iran, Pertamina akan mengikuti lelang yang digelar oleh Pemerintah Iran untuk menjadi pengelola dua blok sekaligus, Lapangan Ab-Teymour dan Mansouri yang diperkirakan memiliki cadangan minyak mencapai 5 miliar barel. Di Rusia, Rosneft menyatakan telah meneken nota kesepahaman dengan Pertamina untuk kerja sama menggarap Lapangan The Northern Tip of Chayvo dan Lapangan Russkoye.

Capai Target 4

Jika dibandingkan target, realisasi produksi migas sampai Juni ini masih sedikit di bawah target. Produksi migas 692 ribu boepd baru 99,8% dari target 693 ribu boepd. Realisasi produksi gas 2.022 mmscfd juga masih di bawah target 2.080 mmscfd. Namun realisasi produksi minyak 343 ribu bph justru lebih tinggi 2,6% dari target 334 ribu bph. Meidawati optimis target produksi migas tahun ini akan tercapai. 

“Karena saat ini beberapa pekerjaan sedang berlangsung, seperti pengeboran development, reaktivasi sumur, dan lainnya,” tuturnya.

Selain itu, Blok Cepu disebutnya masih menjadi andalan untuk merealisasikan target produksi migas 2017. Pertamina telah menganggarkan US$ 3,44 miliar untuk mendanai berbagai kegiatan untuk mencapai target produksi migas 2017. Rincinya, Pertamina akan mengebor 28 sumur eksplorasi dan 129 sumur pengembangan, melaksanakan kerja ulang 31 sumur, serta menjalankan 5.000 pekerjaan perawatan sumur.

Syamsu Alam menuturkan, produksi migas perseroan ditargetkan terus meningkat setiap tahunnya hingga mencapai 1,9 juta boepd pada 2025. Peningkatan produksi diperoleh dari optimasi aset eksisting, pengambilalihan blok migas habis kontrak, dan akuisisi aset migas di negara lain. Langkah ini diperlukan untuk memperkecil selisih produksi dan kebutuhan migas nasional di tahun-tahun mendatang.

“Performance kami dari 2008 sampai 2016, produksi migas terus tumbuh. Jadi kami bisa membuktikan bahwa kami masih bisa tumbuh,” kata dia.

Ke depan, Pertamina menargetkan produksi migas tumbuh stabil sebesar 8% per tahun, sementara cadangan gas bertambah 4,4% per tahun.

Investor Daily, Page-9, Monday, July 17, 2017

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