PT Perusahaan Gas Negara Tbk (PGAS) acknowledges that one of its gas fields, Kepodang Block, is in a state of powers or Force majeure. The Kepodang Block gas reserves are less than expected. As a result, gas field production operations are forced to stop faster, ie in 2018.
In fact, in the plan of development (POD), Kepodang Block is planned to produce and supply gas to PLTGU Tambak Lorok through Kalija I pipeline until 2026.
"However, the force majerue situation does not mean that the operations are completely stopped," said Nusantara Suyono, Finance Director of PGAS, Wednesday (9/8).
He claims that the faster termination of Kepodang block operations has no significant impact on PGAS's finances. The reason, PGAS only has 20% participation rights Kepodang Block.
Participation rights are owned by PGAS through Saka Energi Muriah Ltd, a subsidiary of PT Saka Energi. Meanwhile, 80% of other participating rights are controlled by Petronas Carigali Muriah Ltd.
The archipelago is still reluctant to disclose the potential value of losses on the force majeure of Kepodang Block. The reason is, when the kahar condition was announced, the decline in Kepodang Block production has not been seen in detail. Thus, the potential losses can not be calculated.
"We are also awaiting the results of an independent team audit," he added.
Investment for Kepodang Block is not cheap. This can be seen from Petronas investment in this block which has reached US $ 650 million during the period of January to April 2017.
However, PGAS remains the focus of expansion in other businesses. This year, PGAS is preparing a capital expenditure (capex) of US $ 500 million. Until the semester l-2017, PGAS has just absorbed 26% of capital expenditure or equivalent to US $ 130 million.
Nusantara explained, PGAS capex is divided into two. As much as 50% for upstream business needs of Saka Energy, while the remaining 50% for downstream business is worked on PGAS, alone.
In the upstream business, the absorption of PGAS capex has reached US $ 100 million. But in downstream absorption business capex is still slow because not much workmanship of Engineering, Procurement, and Construction (EPC) like construction of gas pipeline network. PGAS shares rose 1.14% to Rp 2,160 in yesterday's trading.
IN INDONESIA
Blok Kepodang PGAS dalam Kondisi Kahar
PT Perusahaan Gas Negara Tbk (PGAS) mengakui salah satu lapangan gasnya, Blok Kepodang, berada dalam kondisi kahar atau
force majeure. Cadangan gas Blok Kepodang lebih sedikit dari perkiraan. Alhasil, operasional produksi lapangan gas tersebut terpaksa dihentikan lebih cepat, yakni pada tahun 2018 mendatang.
Padahal, dalam plan of development (POD), Blok Kepodang rencananya akan memproduksi dan memasok gas ke PLTGU Tambak Lorok lewat pipa Kalija I hingga tahun 2026 mendatang.
"Tapi, keadaan force majerue bukan berarti operasionalnya benar-benar berhenti," ujar Nusantara Suyono, Direktur Keuangan PGAS, Rabu (9/8).
Ia mengklaim, penghentian operasional blok Kepodang yang lebih cepat ini, tidak berdampak signifikan terhadap keuangan PGAS. Pasalnya, PGAS hanya memiliki 20% hak partisipasi Blok Kepodang.
Hak partisipasi tersebut dimiliki PGAS melalui Saka Energi Muriah Ltd, anak usaha PT Saka Energi. Sementara itu, 80% hak partisipasi lainnya dikuasai oleh Petronas Carigali Muriah Ltd.
Nusantara masih enggan membeberkan potensi nilai kerugian atas force majeure Blok Kepodang. Pasalnya, ketika kondisi kahar ini diumumkan, penurunan produksi Blok Kepodang belum terlihat secara rinci. Sehingga, potensi kerugiannya belum dapat dihitung.
“Kami juga sedang menunggu hasil audit tim independen," imbuh dia.
lnvestasi untuk Blok Kepodang tidak murah. Hal ini terlihat dari investasi Petronas di blok ini yang sudah mencapai US$ 650 juta sepanjang periode Januari hingga April 2017.
Meski demikian, PGAS tetap fokus ekspansi di bisnisnya yang lain. Tahun ini, PGAS menyiapkan belanja modal (capex) US$ 500 juta. Hingga semester l-2017, PGAS baru saja menyerap 26% belanja modal atau setara US$ 130 juta.
Nusantara menjelaskan, capex PGAS terbagi dua. Sebesar 50% untuk keperluan bisnis hulu (upstream) yang digarap Saka Energi, sementara sisa 50% lainnya untuk bisnis downstream yang digarap PGAS, sendiri.
Di bisnis upstream, penyerapan capex PGAS sudah mencapai US$ 100 juta. Tapi di bisnis hilir serapan capex masih lambat karena belum banyak pengerjaan Engineering, Procurement, and Construction (EPC) seperti pembangunan jaringan pipa gas. Saham PGAS menguat 1,14% menjadi Rp 2.160 pada perdagangan kemarin.
Kontan, Page-8, Thursday, August 10, 2017
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