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Friday, December 8, 2017

Total EP shares in Mahakam Stay 30%



PT Pertamina claims to never send a letter to the Ministry of Energy and Mineral Resources (ESDM) which stated willing to give 39% stake to Total EP. The reason is that Pertamina still holds a letter from the Minister of EMR Sudirman Said, then, that the Total EP section in Mahakam is only 30% stake.

Just so you know, the Total EP contract in the Mahakam Block will expire on 31 December 2017 and 1 January 2018, the gas block will be managed by Pertamina. The transfer of 100% block of Mahakam block will belong to Pertamina already signed since 2015.

After the Blok-Mahakam was awarded to Pertamina, in 2016, Sudirman decided to grant 30% participating interest (PI) through a formal letter to PT Pertamina. The business to business scheme (B to B) alias is not free.

the Mahakam block

After the letter down, Pertamina immediately formed a team between Pertamina, SKK Migas and Total EP to make the transition process. Even Upstream Director of Pertamina Syamsu Alam and Pertamina's President Director Dwi Soetjipto flew to France to discuss the Mahakam block, whether they wanted to manage or not. The answer then was surprising.

"When we met in France in 2016, BOD Total said it was not focused on the Mahakam block, or there was no interest in the Mahakam block anymore," said Syamsu, Wednesday (6/12).

After a while, entering 2017, Pertamina and Total EP continue to discuss the transition period. At that time Total EP only drilled about six wells in the Mahakam Block, when they should have drilled more. Nevertheless, Pertamina know. As a result, Pertamina decided to conduct further drilling in Mahakam.

"We drilled this year, but the production is done next year," he added.

Syamsu explained that the transition process is already running smoothly. Until a few months ago, Total EP in a forum expressed interest in managing the Mahakam Block if its shares increased to 39%, from the previous only 30%.

"They say it like that in the forum and have sent a letter to the ESDM Minister asking for 39% of the shares," he said.

However, Pertamina only obeys what has been written since the beginning that Total EP only gets 30% PI in the Mahakam Block.

"So it is not true that Pertamina sent a letter to the government to give additional shares to Total EP to 39%,"
he said.

Syamsu added, it does not matter if until the end of the contract runs out Total EP does not conduct transactions with Pertamina related to their participation. Because, it has prepared a fund of US $ 700 million for investment in the Mahakam Block.

"If Total EP goes in the middle of 2018, it's okay, but then we'll talk about the price, because we already have the Mahakam asset now," he explained.

IN INDONESIA

Saham Total EP di Mahakam Tetap 30%


PT Pertamina mengklaim tidak pernah mengirimkan surat kepada Kementerian Energi dan Sumber Daya Mineral (ESDM) yang menyatakan bersedia memberikan 39% saham ke Total EP. Dalihnya, Pertamina masih memegang surat dari Menteri ESDM Sudirman Said, saat itu, bahwa bagian Total EP di Mahakam hanya 30% saham.

Asal tahu saja, kontrak Total EP di Blok Mahakam akan habis 31 Desember 2017 dan 1 Januari 2018, blok gas itu akan dikelola Pertamina. Surat pengalihan Blok Mahakam 100% akan menjadi milik Pertamina sudah ditandatangani sejak tahun 2015 lalu.

Setelah Blok-Mahakam diberikan kepada Pertamina, tahun 2016 lalu, Sudirman memutuskan memberikan Total EP hak partisipasi atau participating interest (PI) sebesar 30% melalui surat resmi kepada PT Pertamina. Skemanya business to business (B to B) alias tidak gratis.

Setelah surat tersebut turun, Pertamina langsung membentuk tim antara Pertamina, SKK Migas dan Total EP untuk melakukan proses transisi. Bahkan Direktur Hulu Pertamina Syamsu Alam dan Direktur Utama Pertamina Dwi Soetjipto terbang ke Prancis untuk mendiskusikan soal Blok Mahakam tersebut, apakah ingin ikut mengelola atau tidak. Jawaban saat itu cukup mengejutkan. 

"Waktu kami bertemu di Prancis 2016 lalu, BOD Total menyatakan tidak fokus dengan Blok Mahakam, atau tidak terlihat ketertarikan terhadap Blok Mahakam lagi," ungkap Syamsu, Rabu (6/12).

Setelah beberapa lama, memasuki tahun 2017, Pertamina dan Total EP terus mendiskusikan soal masa transisi. Saat itu Total EP hanya mengebor sekitar enam sumur di Blok Mahakam, padahal seharusnya mereka mengebor lebih banyak. Meski demikian, Pertamina maklum. Alhasil, Pertamina memutuskan melakukan pengeboran lanjutan di Mahakam. 

"Kami mengebor tahun ini, tetapi produksinya dilakukan tahun depan," imbuhnya.

Syamsu menjelasakan, proses transisi tersebut sebenarnya sudah berjalan mulus. Sampai beberapa bulan lalu ternyata Total EP dalam sebuah forum menyatakan berminat mengelola Blok Mahakam jika sahamnya ditambah menjadi 39%, dari yang sebelumnya hanya 30%. 

"Mereka bilang seperti itu di forum dan sudah mengirim surat ke Menteri ESDM meminta 39% saham itu," ujarnya.

Meski demikian, Pertamina hanya menuruti apa yang sudah tersurat sejak awal bahwa Total EP hanya mendapat 30% PI di Blok Mahakam. 

"Jadi tidak benar Pertamina mengirim Surat ke pemerintah untuk memberikan tambahan saham ke Total EP menjadi 39% itu,"
ungkap dia.

Syamsu menambahkan, tidak masalah jika sampai akhir kontrak habis Total EP tidak melakukan transaksi dengan Pertamina terkait keikutsertaan mereka. Sebab, pihaknya sudah menyiapkan dana sebesar US$ 700 juta untuk investasi di Blok Mahakam. 

"Kalau Total EP masuk di tengah-tengah 2018, tidak apa apa juga. Tapi nanti kita bicara tentang harganya, karena kami sudah punya hitungan aset Mahakam sekarang," jelas dia.

Kontan, Page-14, Thursday, Dec 7, 2017

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