The establishment of a joint venture (JV) between PT Pertamina and Saudi Aramco for repair and capacity building of Cilacap Refinery will be realized in 2019.
Director of Processing and Petrochemistry Megawroyek Ardhy Mokobombang said the establishment of a joint venture with Saudi Aramco takes a long time because the sequence is different. The Saudi Arabian oil and gas company called for the creation of a new joint venture after the front end engineering design (FEED) finishes.
"The estimate (establishment of JV) by the end of 2019 is over. Because of his studies only 1.5. year, "he said on the sidelines of Pertamina Energy Forum 2017 in Jakarta, Wednesday (13/12).
Therefore, the company and Saudi Aramco need to revise the previously signed joint venture agreement (JVA) agreement.
A revision is needed so that Pertamina and Saudi Aramco can work on the FEED study, without having to form a joint venture first. This JVA revision is targeted as soon as possible.
"Possibility of January (signing JVA)" said Ardhy.
Related to the ownership of shares, he asserted no change. Pertamina will still hold a 55% stake in the upgrading project of Cilacap Refinery. The reason, the company wants to be able to control a joint venture with Saudi Aramco.
"Share it affects how we control the joint venture so if we are minimum position, of course its position is not good. This is our own refinery, "he said.
After the joint venture agreement is signed, Pertamina-Aramco will start FEED work. In the next year, the company also targets clarity on asset transfer and fiscal incentives in the form of tax holiday. Later, Pertamina's current assets will be included in the joint venture.
"Later we are talking about the existing access entered into the joint venture," said Ardhy.
The Cilacap refinery is targeted to start operating in 2023 from the initial plan of 2022. After the upgrading, the processing capacity of Cilacap refinery will increase from 348 thousand bpd to 400 thousand bpd.
Furthermore, there will be additional gasoline production of 80 thousand bpd, diesel fuel 60 thousand bpd, and avtur 40 thousand bpd. Fuel production rose significantly as the ability of refineries to process crude oil into finished products (NCI) rose from 74% to 92-98%.
IN INDONESIA
2019, Pertamina-Saudi Aramco Bentuk Perusahaan Patungan
Pembentukan perusahaan patungan (joint venture/JV) antara PT Pertamina dengan Saudi Aramco untuk pengerjaan perbaikan dan peningkatan kapasitas Kilang Cilacap akan terealisasi pada 2019.
Direktur Megaproyek Pengolahan dan Petrokimia Ardhy Mokobombang mengatakan, pembentukan perusahaan patungan dengan Saudi Aramco membutuhkan waktu lama karena urutannya berbeda. Perusahaan migas asal Arab Saudi tersebut meminta pembentukan perusahaan patungan baru dilakukan setelah paket desain rinci (front end engineering design/FEED) selesai.
“Perkiraannya (pembentukan JV) akhir 2019 sudah selesai. Karena membuat studinya saja 1,5. tahun,” kata dia di sela acara Pertamina Energy Forum 2017 di Jakarta, Rabu (13/12).
Karena itu, perseroan dan Saudi Aramco perlu merevisi perjanjian pembentukan perusahaan patungan (ioint venture agreement/ JVA) yang telah diteken sebelumnya.
Revisi diperlukan agar Pertamina dan Saudi Aramco dapat mengerjakan studi FEED, tanpa harus membentuk perusahaan patungan terlebih dahulu. Revisi JVA ini ditargetkan secepatnya.
“Kemungkinan Januari (penandatanganan JVA)" ujar Ardhy.
Terkait kepemilikan saham, ditegaskannya tidak mengalami perubahan. Pertamina masih bakal memegang kepemilikan saham sebesar 55% pada proyek upgrading Kilang Cilacap. Pasalnya, perseroan menginginkan untuk dapat mengendalikan perusahaan patungan dengan Saudi Aramco tersebut.
“Share itu mempengaruhi bagaimana kita mengendalikan joint venture jadi kalau kita posisi minimum, tentu saja posisinya kurang baik. Ini kilang milik kita sendiri,” tuturnya.
Setelah kesepakatan perusahaan patungan ditandatangani, Pertamina-Aramco akan memulai pengerjaan FEED. Pada tahun depan, perseroan juga menargetkan kejelasan tentang transfer aset dan insentif fiskal berupa tax holiday ada kepastian. Nantinya, aset yang dimiliki Pertamina saat ini akan dimasukkan ke dalam perusahaan patungan.
“Nanti kami bicarakan agar akses eksisting dimasukkan ke dalam perusahaan patungan,” jelas Ardhy.
Kilang Cilacap ditargetkan mulai beroperasi pada 2023 dari rencana awal 2022. Pasca upgrading, kapasitas pengolahan minyak mentah Kilang Cilacap akan naik dari 348 ribu bph menjadi 400 ribu bph.
Selanjutnya, akan ada tambahan produksi bensin (gasoline) 80 ribu bph, solar 60 ribu bph, dan avtur 40 ribu bph. Produksi bahan bakar naik signifikan karena kemampuan kilang mengolah minyak mentah menjadi produk jadi (NCI) naik dari 74% menjadi 92-98%.
Investor Daily, Page-9, Thursday, Dec 14, 2017
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