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Friday, October 6, 2017

Oil and Gas Blocks Unsuccessful will be auction again



The government immediately held an auction of second-quarter oil and gas blocks to re-offer unexpected oil and gas blocks at a 2016 auction. Not only that, oil and gas blocks returned by oil and gas companies will also be offered again. 

     Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the second auction of oil and gas blocks will be held as soon as the first auction period is over. Post two times extended, auctions for the first 2017 oil and gas blocks closed in November.

"The auction (second period) could be next year, this year, it will not depend on the year (the implementation)," he said in Jakarta on Thursday (5/10). Blocks auctioned in the second period, including oil and gas blocks that have been officially returned to the state and which are not interested in the previous year's auction. Especially for the returned blocks, not limited to this year only. Oil and gas blocks returned in previous years will also be re-tendered.

Data of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) in 2013 ago, there are 18 oil and gas blocks returned to the country. The cause is there are several factors, namely the absence of oil and gas reserves, the amount of reserve is not economical, or the risk is too high.

These 18 oil and gas blocks include Banyumas Block, Anadarko Papalang, East Ambalat, North East Madura-III, Bengkulu, Offshore Lampung-II, Pasanglayu, Surumana, and Amborip VI. Furthermore, it also includes Kuma Block, Mandar, Sageri, Karama, Scissors, Arafura Sea, Rangkas, and South East Palung Aru.

Meanwhile, the recently returned PT Pertamina East Kalimantan Block and Attaka. These two blocks, according to Arcandra, must be auctioned off soon.

"The block auction must be fast for the blocks that operate now because of the long transition period," he said.

East Kalimantan Block completes its contract in October 2018, while the Attakan Block by the end of this year.

Oil and Gas Block

Meanwhile, at last year's auction, there were 14 oil and gas blocks that were not won by oil and gas companies. In detail, the Ebuny Block, Onin, West Kaimana, West Bukit, Batu Gajah Dua, Kasongan Sampit, and Ampuh. The next offered regularly are South CPR Oti Block, Suremana I, Mamuju Manukra, South East Mandar, North Arguni, and Kasuri II. 

     Referring to Regulation of the Minister of Energy and Mineral Resources No. 52 of 2017, termination blocks and new contracts will use the production sharing contract (PSC) of gross split scheme. The government claims this scheme will make the contractor economy more attractive, comparable or even better than the Cost Recovery scheme.

As is known, the rate of return on capital (internal rate of return / IRR) of oil and gas blocks is predicted to rise about 6.55% according to Ministerial Regulation 52/2017. the simulation has been done, it appears that once the reference is changed to Ministerial Regulation 52/2017, IRR oil and gas blocks rose significantly. 

    In some oil and gas blocks, the IRR increase is about 2-5%. However, there are also oil and gas blocks that in this simulation the IRR soared to 12%. However, this oil and gas IRR averaged an increase of 6.55%.

There are eight improvement points in Ministerial Regulation 52/2017. In detail, on the cumulative factor of production there is an additional split up to 10%, from the split production phase can rise up to 10%, the plan of development (POD 2) adds a 3% split, from the split hyodgen sulfide (H2S) split may increase up to 5%, and the availability of infrastructure could boost the split by 4%.

IN INDONESIA

Blok Migas Tidak Laku Dilelang Ulang


Pemerintah segera, menggelar lelang blok migas periode kedua untuk menawarkan kembali blok migas yang tidak diminati pada lelang 2016 silam. Tidak hanya itu, blok migas yang dikembalikan oleh perusahaan migas juga akan ditawarkan kembali. 

     Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, lelang blok migas periode kedua tersebut bakal digelar segera setelah lelang periode pertama selesai. Pasca diperpanjang dua kali, lelang blok migas periode pertama 2017 ditutup pada November nanti.

"Lelangnya (periode kedua) bisa tahun depan, bisa tahun ini. Tidak tergantung tahun (pelaksanaannya) ," kata dia di Jakarta, Kamis (5/ 10). Blok yang dilelang pada periode kedua, meliputi blok migas yang telah resmi dikembalikan ke negara dan yang tidak diminati di lelang tahun sebelumnya. Khusus untuk blok yang dikembalikan, tidak dibatasi untuk tahun ini saja. Blok migas yang dikembalikan pada tahun-tahun sebelumnya juga akan dilelang ulang.

Data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) pada 2013 silam, terdapat 18 blok migas yang dikembalikan ke negara. Penyebabnya ada beberapa faktor, yakni tidak ditemukannya cadangan migas, besaran cadangannya tidak ekonomis, atau resikonya terlalu tinggi.

Ke-18 blok migas ini meliputi  Blok Banyumas, Anadarko Papalang, East Ambalat, North East Madura- III, Bengkulu, Offshore Lampung-II, Pasanglayu, Surumana, dan Amborip VI. Selanjutnya, juga termasuk Blok Kuma, Mandar, Sageri, Karama, Gunting, Arafura Sea, Rangkas, dan South East Palung Aru.

Sementara yang baru saja dikembalikan PT Pertamina yakni Blok East Kalimantan dan Attaka. Dua blok ini, menurut Arcandra, harus segera dilelang. 

"Lelang blok harus cepat untuk blok-blok yang beroperasi sekarang karena masa transisinya lama," tegas dia. 

Blok East Kalimantan selesai kontraknya pada Oktober 2018, sementara Blok Attakan pada akhir tahun ini.

Sementara pada lelang tahun lalu, terdapat 14 blok migas yang tidak dimenangkan satu pun oleh perusahaan migas. Rincinya, Blok Ebuny, Onin, West Kaimana, Bukit Barat, Batu Gajah Dua, Kasongan Sampit, dan Ampuh. Berikutnya yang ditawarkan secara reguler yakni Blok South CPR Oti, Suremana I, Manakarra Mamuju, South East Mandar, North Arguni, dan Kasuri II. 

     Mengacu pada Peraturan Menteri ESDM Nomor 52 Tahun 2017, blok-blok terminasi maupun yang kontrak baru nantinya akan menggunakan kontrak kerja sama (production sharing contract/ PSC) skema bagi hasil kotor (gross split). Pemerintah mengklaim skema ini akan membuat keekonomian kontraktor menjadi lebih menarik, sebanding atau bahkan lebih baik dari skema Cost Recovery.

Seperti diketahui, tingkat pengembalian modal (internal rate of return/ IRR) blok migas diprediksi bisa naik sekitar 6,55% mengacu Peraturan Menteri 52/ 2017. Pada. simulasi yang telah dilakukan, tampak bahwa begitu acuannya diubah menjadi Peraturan Menteri 52/ 2017, IRR blok migas naik signifikan. 

     Di beberapa blok migas, kenaikan IRR sekitar 2-5%. Namun, ada juga blok migas yang dalam simulasi ini IRR-nya melejit hingga 12%. Namun, IRR blok migas ini rata-rata naik 6,55%.

Terdapat delapan poin perbaikan dalam Peraturan Menteri 52/2017. Rincinya, pada faktor kumulatif produksi terdapat tambahan split hingga 10%, dari fase produksi split bisa naik hingga 10%, adanya rencana pengembangan lanjutan (plan of development/POD 2) menambah split 3%, dari kandungan hirodgen sulfida (H2S) split bisa meningkat sampai 5%, dan faktor ketersediaan infrastruktur bisa mendongkrak split hingga 4%.

Investor Daily, Page-11, Friday, October 6, 2017

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