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Saturday, December 2, 2017

State Revenues Rise from Cepu Block



The government changed the Indonesian Crude Price formula for Banyu Urip Field, Cepu Block to be higher. This change will boost the amount of state revenue from oil and gas blocks on the border of Central Java and East Java.

Changes in Banyu Urip Field ICP are determined through Decree of the Minister of Energy and Mineral Resources (ESDM) No. 4028 K / 12 / MEM / 2017. Referring to the decision, now the crude oil from Banyu Urip Field is set with the Arjuna ICP formula plus US $ 5.5 per barrel at the delivery point at the floating storage and offloading / FSO facility of Rimang Rim.

"So ICP Banyu Urip price formula changed from ICP Arjuna minus US $ 0.5 per barrel to ICP Arjuna plus US $ 5.5 per barrel. So there is an increase in value of US $ 6 per barrel, "said Head of Program and Communications Division of Special Unit for Upstream Oil and Gas (SKK Migas) Business Activities Wisnu Prabawa Taher in Jakarta, Thursday (30/11).

With the increase in price formula to be better, he said, will have an impact to higher state revenues from the Cepu Block. Moreover, this new price formula applies to all companies purchasing crude oil from oil and gas blocks operated by Exxon Mobil Cepu Limited. However, it has not been able to estimate how the increase in state revenues

"Must increase state revenue. But this country's revenues have just been calculated by the end of this month, after ICP's November exit, "explained Wisnu.

State revenue is calculated by multiplying the production volume of Banyu Urip Field with the current ICP, Cepu Block production has reached 204-308 thousand barrels per day (bpd). The realization of oil production is expected to last until the end of this year.

Head of Communication, Public Information and Cooperation Bureau of the Ministry of Energy and Mineral Resources Dadan Kusdiana confirmed that ICP Banyu Urip price formula applies to all buyers, including PT Tri Wahana Universal (TWU). TWU is the owner and operator of a mini refinery located in Bojonegoro, East Java, close to the Cepu Block.

"The price of TWU crude oil is the price of Banyu Urip crude oil at the point of handover of Crow Rang," he said.

In addition to TWU, Cepu Block crude oil is taken by PT Pertamina. Furthermore, the oil is processed at a refinery owned by Pertamina, including the Cilacap Refinery and Dumai Refinery. At the Dumai Refinery alone, after the construction of a new tank, the processed Banyu Urip crude reached 72 thousand bpd.

In the official page of the Directorate General of Oil and Gas, Indonesia Crude Oil Price Team explained that the ICP change is considering the crude oil from Banyu Urip Field has long been produced. Not only that, Banyu Urip Field has a stable level of production and quality, and good market absorption.

"Therefore, it is necessary to adjust the Indonesian crude oil price formula for the type of Banyu Urip crude oil," said the Indonesia Crude Oil Price Team.

Banyu Urip crude oil price formula is evaluated by the Indonesian Oil Price Team regularly at least once a year.

IN INDONESIA

Penerimaan Negara Naik dari Blok Cepu


Pemerintah mengubah formula harga minyak mentah Indonesia (Indonesian Crude Price) untuk Lapangan Banyu Urip, Blok Cepu menjadi lebih tinggi. Perubahan ini bakal mendongkrak besaran penerimaan negara dari blok migas di perbatasan Jawa Tengah dan Jawa Timur ini.

Perubahan ICP Lapangan Banyu Urip ditetapkan melalui Keputusan Menteri Energi dan Sumber Daya Mineral (ESDM) Nomor 4028 K/12/MEM/2017. Mengacu pada keputusan tersbut, kini minyak mentah dari Lapangan Banyu Urip di tetapkan dengan formula ICP Arjuna plus US$ 5,5 per barel pada titik serah di fasilitas penampungan dan bongkar muat terapung (floating storage and offloading/ FSO) Gagak Rimang.

“Jadi formula harga ICP Banyu Urip berubah dari ICP Arjuna minus US$ 0,5 per barel menjadi ICP Arjuna plus US$ 5,5 per barel. Sehingga ada kenaikan value US$ 6 per barel,” kata Kepala Divisi Program dan Komunikasi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Wisnu Prabawa Taher di Jakarta, Kamis (30/11).

Dengan adanya kenaikan formula harga menjadi lebih baik, dikatakannya, akan berdampak ke penerimaan negara yang lebih tinggi dari Blok Cepu. Apalagi, formula harga baru ini berlaku untuk semua perusahaan pembeli minyak mentah dari blok migas yang dioperasikan Exxon Mobil Cepu Limited ini.  Namun, pihaknya belum dapat memperkirakan berapa kenaikan penerimaan negara  

“Pasti bertambah penerimaan negara. Tetapi penerimaan negara ini baru saja dihitung pada akhir bulan ini, setelah ICP November keluar,” jelas Wisnu.

Penerimaan negara dihitung dengan mengkalikan volume produksi Lapangan Banyu Urip dengan ICP saat ini, produksi Blok Cepu telah mencapai 204-308 ribu barel per hari (bph). Realisasi produksi minyak ini diperkirakan akan bertahan sampai akhir tahun ini.

Kepala Biro Komunikasi, Layanan Informasi Publik, dan Kerja Sama Kementerian ESDM Dadan Kusdiana menegaskan bahwa formula harga ICP Banyu Urip ini berlaku untuk semua pembeli, termasuk PT Tri Wahana Universal (TWU). TWU merupakan perusahaan pemilik dan operator kilang mini yang berlokasi di Bojonegoro, Jawa Timur, dekat dengan Blok Cepu.

“Harga minyak mentah TWU adalah harga minyak mentah Banyu Urip di titik serah Gagak Rimang,” kata dia.

Selain TWU, minyak mentah Blok Cepu diambil oleh PT Pertamina. Selanjutnya, minyak tersebut diolah di kilang milik Pertamina, diantaranya yakni Kilang Cilacap dan Kilang Dumai. Di Kilang Dumai saja, setelah dibangunnya tangki baru, minyak mentah Banyu Urip yang diolah mencapai 72 ribu bph.

Dalam laman resmi Direktorat Jenderal Minyak dan Gas Bumi, Tim Harga Minyak Mentah Indonesia menjelaskan, perubahan ICP ini mengingat minyak mentah dari Lapangan Banyu Urip telah lama diproduksikan. Tidak hanya itu, Lapangan Banyu Urip memiliki tingkat kestabilan produksi dan kualitas, serta penyerapan pasar yang baik.

“Sehingga, perlu dilakukan penyesuaian formula harga minyak mentah Indonesia untuk jenis minyak mentah Banyu Urip,” tutur Tim Harga Minyak Mentah Indonesia. 

Formula harga minyak mentah Banyu Urip ini dievalusi oleh Tim Harga Minyak Indonesia secara berkala sekurang-kurangnya satu kali dalam satu tahun.

Investor Daily, Page-9, Saturday, Dec 2, 2017

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