Share Down Blok Mahaam Up to 39%

Maintain production, Ministry of ESDM add share down Total E & P in Mahakam Block

Ministry of Energy and Mineral Resources (ESDM) continues to prepare ESDM Minister Decree Lerkait limit maximum transfer of participation rights or share down in Mahakam Block after 2017 by 39%.

Special Staff of the Minister of Energy and Mineral Resources Hadi M Djuraid explained that the Minister of Energy and Mineral Resources will not give an opportunity to Total E & P Indonesia to get 39% of the participating interest (Pl) in Mahakam Block. But give permission to Pertamina if you want to share down with Total E & P with maximum limit of 39%. That way, the decision to share down is in the hands of Pertamina.

"So it depends entirely on Pertamina, whether they want to share down or not, if they want to share down is limited to maximum 39%," said Hadi.

However, the maximum restriction decision of 239% down share is still considering the majority portion for Pertamina. If Pertamina shares 39% share in Mahakam block, the state-owned company still holds majority ownership of 51%. On the other hand, local government can still get a 10% PI.

"How much Pertamina will share down to Total is fully submitted to Pertamina to discuss business to business with Total" ESDM does not follow-up, "Hadi explained.

No offers yet

Indeed the decision of the Minister of Energy and Mineral Resources regarding the share down of Mahakam Block with the consideration to maintain gas production in the block. In addition, the government also does not want cost recovery to rise compared to the previous year.

"How to translate these two things, fully handed over to Pertamina, whether Pertamina wants to manage it yourself or share down with Total, go ahead," he said.

According to Hadi, the Minister of Energy and Mineral Resources specifically gave the first opportunity to Total to have more participation rights in the Mahakam Block. The reason, Total has been the operator of the Mahakam Block for 50 years.

"Total who operated this block before, but the decision is in Pertamina," he explained.

However, Total has not submitted an offer to Pertamina. Upstream Director of Pertamina, Syamsu Alam said the meeting between Pertamina and Total team has been done. But there has been no serious offer from Total.

"The technical team has met several times related to the share down plan but there has been no concrete proposal from Total," said Syamsu Alam

So it is not surprising that until now Pertamina has not determined the valuation to share down the Mahakam Block.

"Valuation has not been calculated," Alam said.

As is known, Pertamina will take over the rights of managing the Mahakam Block from Total (France) on January 1, 2018. Currently, Pertamina with Total is currently focusing on well drilling so that gas production from the Mahakam Block can be maintained when management takes over.

Until August 2017, Pertamina has invested three wells drilling in the Mahakam Block which is a good result. This makes Pertamina plans to drill 15 more wells until the end of the year. Thus, the Mahakam Block production next year can be equal to or greater than the current production of 1 Billion Cubic Feet.

Mahakam Block - East Borneo

IN INDONESIA

Share Down Blok Mahaam Maksimal Hingga 39%

Pertahankan produksi, Kementerian ESDM menambah share down Total E&P di Blok Mahakam

Kementerian Energi dan Sumber Daya Mineral (ESDM) terus mempersiapkan Surat keputusan Menteri ESDM Lerkait batasan maksimal transfer hak partisipasi atau share down di Blok Mahakam pasca tahun 2017 sebesar 39%.

Staf Khusus Menteri Energi dan Sumber Daya Mineral Hadi M Djuraid menjelaskan, Menteri ESDM tidak akan memberi kesempatan kepada Total E&P lndonesie mendapatkan 39% hak kelola atau participating interest (Pl) di Blok Mahakam. Tapi memberi izin kepada Pertamina apabila ingin melakukan share down dengan Total E&P dengan batas maksimal 39%. Dengan begitu, keputusan share down ada di tangan Pertamina. 

"Jadi sepenuhnya tergantung kepada Pertamina, apakah mereka mau share down atau tidak. Kalau mau share down dibatasi maksimal 39%," kata Hadi.

Namun keputusan pembatasan maksimal share down 239% masih mempertimbangkan porsi mayoritas bagi Pertamina. Jika Pertamina melakukan share down 39% di Blok Mahakam, perusahaan milik negara ini masih tetap memegang kepemilikan mayoritas sebesar 51%. Di sisi lain, pemerintah daerah setempat masih bisa mendapatkan PI sebesar 10%.

"Berapa besar Pertamina akan share down ke Total sepenuhnya diserahkan ke Pertamina untuk membahas secara business to business dengan Total. "ESDM tidak ikut-ikutan," jelas Hadi.

Belum ada penawaran

Sejatinya keputusan Menteri ESDM mengenai share down Blok Mahakam dengan pertimbangan untuk mempertahankan produksi gas di blok tersebut. Selain itu, pemerintah juga tidak ingin cost recovery naik dibandingkan tahun sebelumnya. 

"Bagaimana cara menerjemahkan dua hal itu, diserahkan sepenuhnya ke Pertamina. Apakah Pertamina mau kelola sendiri atau share down dengan Total, silakan saja," ujarnya.

Menurut Hadi, Menteri ESDM memang secara khusus memberikan kesempatan lebih dulu kepada Total memiliki hak partisipasi lagi di Blok Mahakam. Alasannya, Total telah menjadi operator Blok Mahakam selama 50 tahun. 

"Total yang mengoperasikan blok ini sebelumnya. Tapi keputusan ada di Pertamina," jelasnya.

Meski demikian, Total belum juga mengajukan penawaran ke Pertamina. Direktur Hulu Pertamina, Syamsu Alam mengungkapkan pertemuan antara tim Pertamina dan Total sudah dilakukan. Tapi belum ada penawaran yang serius dari Total. 

"Tim teknis sudah beberapa kali bertemu terkait rencana share down tapi belum ada usulan kongkret dari Total," kata Syamsu Alam 

Maka tidak heran kalau sampai sekarang Pertamina belum menentukan valuasi untuk share down Blok Mahakam. 

"Valuasi belum dihitung," kata Alam.

Seperti diketahui, Pertamina akan mengambilalih hak kelola Blok Mahakam dari Total (Perancis) pada 1 Januari 2018. Saat ini, Pertamina bersama Total sedang fokus pengeboran sumur agar produksi gas dari Blok Mahakam bisa tetap terjaga ketika terjadi alih kelola.

Hingga bulan Agustus 2017, Pertamina telah investasi pengeboran tiga sumur di Blok Mahakam yang hasil yang cukup bagus. Ini membuat Pertamina berencana mengebor 15 sumur lagi hingga akhir tahun. Dengan begitu, produksi Blok Mahakam pada tahun depan bisa sama atau lebih besar dari produksi saat ini yang mencapai 1 Billion Cubic Feet.

Kontan, Page-18, Wednesday, Sept 13, 2017