2018, Mahakam Block Production Targeted 1,100 MMSCFD

PT Pertamina Hulu Indonesia, a subsidiary of state oil and gas company PT Pertamina, targets to produce 11,100 million cubic feet per day (mmscfd) of next year's Mahakam block gas production. This figure is down 14.19% from the current gas production position of 1,282 mmscfd.

President Director of Pertamina Hulu Indonesia, Bambang Manumayoso, said that the Mahakam block is a oil and gas block that has entered the fourth phase or decreased production. If no effort is made, the rate of decline in production of this block can reach about 50%. However, it will restrain the rate of this decline in the range of 20-25%.

"In 2018, gas production is targeted at 1,100 mmscfd and oil / condensate 48 thousand barrels per day (bpd)," he said in a media workshop in Jakarta on Thursday (9/11).

In his explanation, if there is not any activity in the Mahakam Block, then gas production could drop drastically to 934 mmscfd and oil 25,717 bpd. However, with drilling and re-working the well layer, it is optimistic to maintain oil and gas production in the Mahakam block.

the Mahakam block

In detail, it will drill 55-57 development wells, re-work in 132 wells, run maintenance for 5601 wells, and work on up to seven plans of future development (POFD). The amount of these activities is potentially added if the price of crude oil gets better.

"Initial plan, we will only drill 55 development wells, but then there are five additional wells from the new POD (plan of development). But it can grow 15 wells or become 70 wells if oil prices improve at US $ 60-70 per barrel, "he explained.

Admittedly, because the price of oil fell drastically, it is selective in choosing drilling wells. This is to ensure that operations in the Mahakam Block can be run at a low cost so that the economy is maintained. If the price of oil reaches US $ 100 per barrel, it does not hesitate to execute all well drilled wells.

Currently, it is applying for two new PODs. In the five approved POD, the company is focused on drilling in the Mahakam delta area, not offshore. In the two newly proposed POD, the company plans to add offshore offshore, including additional new platforms.

"The potential at South Mahakam is also included in two PODs. If it can be accelerated, then at the end of 2018 can be drilled and continued in 2019, "he explained.

For that, it set aside funds of up to US $ 1.8 billion to finance the Mahakam block next year, namely for investment of US $ 700 million and operations of US $ 1.1 billion. Funding comes from Pertamina's cash.

"This is a commitment that Pertamina must finance the Mahakam block to make its production better," said Bambang.

In the material presented, Pertamina is optimistic able to boost the Mahakam block production. Despite reaching its lowest point in 2018, oil and gas production block offshore East Kalimantan will increase from 2019.

Gas production is projected to rise to 1,207 mmscfd by 2019, 1,268 mmscfd by 2020, and fall slightly to 1,267 by 2021. Correspondingly, oil and condensate production is projected to increase to 42 thousand bpd by 2019, 43,184 by 2020, down slightly to 41,850 bpd at 2021.

It is said Bambang, recovery factor Mahakam block is still pretty good. For oil, the drainage rate is still in the range of 43-45%, although other old fields can be only 20%. For gas, recovery factor is still about 60%, only slightly down from the optimum level which is 80% average. In addition, oil and gas reserves and resources in the Mahakam block are still 57 billion barrels of oil and 4.9 trillion cubic feet of gas.

"Then there is an upside potential of 756.95 billion cubic feet of gas and 12.6 billion barrels of oil," he added.

Working Alone

Problem partner in working on Mahakam block, Bambang said it is still waiting for Pertamina's parent policy. So far, it is preparing the management of Mahakam Block where Pertamina holds 90% participation rights and 10% BUMD. Including the interest of Mubadala Petroleum and Total E & P Indonesie into the Mahakam block, it also awaits the parent attitude of Pertamiua.

"It's a decision in Upstream Business Development Pertamina, We are waiting for orders only," he said.

As is known, Mubadala Petroleum which is a UAE oil and gas company expressed interest to participate in managing the Mahakam Block. This was conveyed by the leadership of Mubadala to the Vice Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar on Wednesday (8/11). The government asked the company to negotiate with Pertamina.

Earlier, Total E & P Indonesie also said it wanted to rejoin the Mahakam Block if it could get 39% participation rights. However, despite Total already communicating with the Ministry of Energy and Mineral Resources (ESDM), discussions with Pertamina have not been continued. So there is no decision whatsoever about this partnership.

Upstream Director of Pertamina Syamsu Alam stated that Pertamina is able to work on Mahakam Block with or without partners.

"Are we able to manage the Mahakam? Capable, permanent employees there. then we have some finance who want to join. So we wait until the end of the year, "said Alam.

Previously, as known Pertamina has signed a new contract of Blok Mahakam valid from January 1, 2018 at the end of 2015 ago. Under the contract, the company promised a signature bonus of US $ 41 million.

In addition, state revenues from production bonuses include US $ 5 million from a cumulative production of 500 million barrels of oil equivalent, of US $ 4 million from a cumulative production of 750 million barrels of oil equivalent, and US $ 4 million from a cumulative production of 1.009 million barrels of oil equivalent.

IN INDONESIA

2018, Produksi Blok Mahakam Ditargetkan 1.100 MMSCFD  

PT Pertamina Hulu Indonesia, anak usaha PT Pertamina, menargetkan produksi gas Blok Mahakam pada tahun depan sebesar 1.100 juta kaki kubik per hari/mmscfd.  Angka ini turun 14,19% dari posisi produksi gas saat ini sebesar 1.282 mmscfd.

Presiden Direktur Pertamina Hulu Indonesia Bambang Manumayoso mengatakan, Blok Mahakam merupakan blok migas yang sudah memasuki fase empat atau penurunan produksi. Jika tidak dilakukan upaya apapun, laju penurunan produksi blok ini bisa mencapai sekitar 50%. Namun, pihaknya akan menahan laju penurunan ini pada kisaran 20-25%.

“Pada 2018, produksi gas ditargetkan sebesar 1.100 mmscfd dan minyak/kondensat 48 ribu barel per hari (bph),” kata dia dalam media workshop di Jakarta, Kamis (9/11).

Dalam paparannya, jika tidak ada kegiatan apapun di Blok Mahakam, maka produksi gas bisa turun drastis hingga menjadi 934 mmscfd dan minyak 25.717 bph. Namun, dengan pengeboran maupun kerja ulang pindah lapisan sumur, pihaknya optimis bisa menjaga produksi migas di Blok Mahakam.

Rincinya, pihaknya akan mengebor 55-57 sumur pengembangan, melakukan kerja ulang di 132 sumur, menjalankan perawatan untuk 5601 sumur, serta menggarap hingga tujuh rencana pengembangan tahap lanjut (plan of future development/POFD). Jumlah kegiatan ini berpotensi ditambah jika harga minyak mentah semakin membaik.

“Rencana awal, kami hanya akan mengebor 55 sumur pengembangan, namun kemudian ada tambahan lima sumur dari POD (plan of development/ rencana pengembangan) baru. Tetapi bisa bertambah 15 sumur atau jadi 70 sumur kalau harga minyak membaik di US$ 60-70 per barel,” jelasnya.

Diakuinya, lantaran harga minyak turun drastis, pihaknya selektif dalam memilih pengeboran sumur. Hal ini untuk menjaga agar operasi di Blok Mahakam bisa dijalankan dengan biaya rendah sehingga keekonomiannya terjaga. Jika harga minyak mencapai US$ 100 per barel, pihaknya tidak ragu mengeksekusi seluruh pengeboran sumur yang telah direncanakan.

Saat ini pun, pihaknya sedang mengajukan persetujuan untuk dua POD baru. Dalam lima POD yang sudah disetujui, perseroan memang fokus untuk pengeboran di wilayah delta Mahakam, bukan offshore. Dalam dua POD yang baru diajukan, perseroan berencana menambah sumur lepas pantai (offshore), termasuk tambahan platform baru.

“Potensi di South Mahakam juga masuk dalam dua POD. Kalau bisa dipercepat, maka di akhir 2018 bisa dibor dan dilanjutkan pada 2019,” jelasnya.

Untuk itu, pihaknya menyiapkan dana hingga US$ 1,8 miliar untuk membiayai Blok Mahakam pada tahun depan, yakni untuk investasi US$ 700 juta dan operasi US$ 1,1 miliar. Pendanaan berasal dari kas Pertamina. 

“Ini komitmen bahwa Pertamina harus membiayai blok Mahakam agar produksinya lebih baik,” tutur Bambang.

Dalam materi yang dipaparkan, Pertamina optimistis mampu mendongkrak produksi Blok Mahakam. Meski mencapai titik terendah di 2018, produksi migas blok di lepas pantai Kalimantan Timur ini akan meningkat mulai 2019. 

Produksi gas diproyeksikan bisa meningkat menjadi 1.207 mmscfd pada 2019, 1.268 mmscfd pada 2020, dan turun sedikit menjadi 1.267 pada 2021. Sejalan, produksi minyak dan kondensat diproyeksikan meningkat menjadi 42 ribu bph pada 2019, 43.184 pada 2020, dan turun sedikit menjadi 41.850 bph pada 2021.

Dikatakan Bambang, recovery factor Blok Mahakam masih cukup bagus. Untuk minyak, tingkat pengurasan masih di kisaran 43-45%, meski lapangan tua lainnya bisa hanya 20%. Untuk gas, recovery factor masih sekitar 60%, hanya turun sedikit dari tingkat optimumnya yang rata-rata 80%. Selain itu, cadangan dan sumber daya migas di Blok Mahakam masih 57 miliar barel minyak dan 4,9 triliun kaki kubik gas. 

“Kemudian masih ada upside potential 756,95 miliar kaki kubik gas dan 12,6 miliar barel minyak,” tambahnya.

Garap Sendiri

Soal mitra dalam menggarap Blok Mahakam, Bambang menuturkan pihaknya masih menunggu kebijakan induk Pertamina. Sejauh ini, pihaknya menyiapkan pengelolaan Blok Mahakam di mana Pertamina memegang hak partisipasi 90% dan BUMD 10%. Termasuk soal minat Mubadala Petroleum maupun Total E&P Indonesie masuk ke Blok Mahakam, pihaknya juga menunggu sikap induk Pertamiua.

“Itu keputusan di Upstream Business Development Pertamina, Kami menunggu perintah saja,” kata dia.

Seperti diketahui, Mubadala Petroleum yang merupakan perusahaan migas Uni Emirat Arab menyatakan minatnya untuk ikut mengelola Blok Mahakam . Hal ini disampaikan pimpinan Mubadala kepada Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar pada Rabu (8/11) lalu. Pemerintah meminta perusahaan tersebut negosiasi dengan Pertamina.

Sebelumnya, Total E&P Indonesie juga menyatakan ingin bergabung kembali di Blok Mahakam jika bisa memperoleh hak partisipasi 39%. Namun, meski Total sudah berkomunikasi dengan Kementerian Energi dan Sumber Daya Mineral (ESDM), diskusi dengan Pertamina justru belum berlanjut. Sehingga belum ada keputusan apapun soal kemitraan ini.

Direktur Hulu Pertamina Syamsu Alam menyatakan, Pertamina mampu menggarap Blok Mahakam dengan atau tanpa mitra. 

“Apakah kami mampu mengelola Mahakam? Mampu, karyawan tetap di sana. lalu kami ada beberapa finance yang mau bergabung. Jadi kami tunggu sampai akhir tahun,” tegas Alam.

Sebelumnya, seperti diketahui Pertamina telah menandatangani kontrak baru Blok Mahakam yang berlaku mulai 1 Januari 2018 pada akhir 2015 lalu. Dalam kontrak itu, perseroan menjanjikan bonus tanda tangan US$ 41 juta. 

Selain itu juga penerimaan negara dari bonus produksi meliputi US$ 5 juta dari kumulatif produksi 500 juta barel setara minyak, sebesar US$ 4 juta dari kumulatif produksi 750 juta barel setara minyak, dan US$ 4 juta dari kumulatif produksi 1.009 juta barel setara minyak.

Investor Daily, Page-9, Friday, November 10, 2017