PTTEP Back from East Natuna Block

The East Natuna Block project is becoming increasingly unclear. The latest news, a Thai oil and gas company, PTT EXploration and Production PCL (PTTEP) took a retreat from the East Nantuna Block consortium. Previously, in July 2017, ExxonMobil also resigned from the consortium led by PT Pertamina.

Since it was discovered in 1973, the East Natuna project has not been running yet. The composition of the consortium shares in the East Natuna Block project is constantly changing. In December 2011, for example, Pertamina shares 35%, ExxonMobil 35%, Total E & P 15%, and Petronas 15%. Petronas then stepped down and was replaced by PTTEP.

Then, in 2013 then, Total EP turn back. Then, ExxonMobil in July 2017 also stepped back. And, shortly after ExxonMobil resigned, PTTEP also excused from the East Natuna Block consortium.

General Affair PTTEP Indonesia Asset Afiat Jaya State revealed, it has officially submitted certainty back from the consortium East Natuna Block.

"We have delivered a letter to Pertamina," he said.

PTTEP withdrew because it rated the project uneconomical. Although East Natuna Block reserves can be 226 trillion cubic feet (tcf), but the CO2 content is quite high, reaching up to 72%. If it is produced, the backup will shrink to 46 tcf only.

"Especially with gross split," said Afiat.

In addition, the reason for PTTEP's retreat from East Natuna is because its holding company is facing a lawsuit in Central Jakarta Court related to water pollution in East Nusa Tenggara after the leaking of crude oil from drilling unit in Montara in 2009.

"But we are confident that this case will be completed, once it is completed we will continue the business," he said.

Titi Thongjen, General Manager of PTTEP South Mandar Limited and PTTEP Malunda Limited Indonesia, explained that in the meantime, his side stopped investing in Indonesia although the desire to invest in Indonesia from PTTEP which is Thailand's state-owned company is still very big.

"It does not mean we stop, temporarily hold," he said.

He also explained business potential in Indonesia is still very large. To that end, this company will continue to be in Indonesia. So far, PTEEP still has 11.5% participation rights in Natuna Sea Block A. The South Mandar Block has been returned to the government.

Beyond that, the Malunda Block in West Sulawesi is also still in the process of returning to the government. PTTEP gets two blocks to be returned since 2010.

IN INDONESIA

PTTEP Mundur dari Blok East Natuna

Proyek Blok East Natuna semakin tidak jelas. Kabar terbaru, perusahaan migas asal Thailand, PTT EXploration and Production PCL (PTTEP) ikut mundur dari konsorsium Blok East Nantuna. Sebelumnya, Juli 2017 lalu, ExxonMobil juga mundur dari konsorsium yang dipimpin PT Pertamina itu.

Sejak ditemukan tahun 1973, proyek East Natuna hingga kini belum berjalan. Komposisi saham konsorsium di proyek Blok East Natuna terus berubah. Pada Desember 2011, misalnya, saham Pertamina 35%, ExxonMobil 35%, Total E&P 15%, serta Petronas 15%. Petronas kemudian mundur dan digantikan oleh PTTEP.

Lalu, pada tahun 2013 lalu, giliran Total EP mundur. Kemudian, ExxonMobil pada Juli 2017 juga ikut mundur. Dan, tidak lama setelah ExxonMobil mundur, PTTEP juga pamit dari konsorsium Blok East Natuna tersebut.

General Affair PTTEP Indonesia Asset Afiat Jaya Negara mengungkapkan, pihaknya sudah menyampaikan secara resmi kepastian mundur dari konsorsium Blok East Natuna. 

"Kami sudah sampaikan surat ke Pertamina," katanya.

PTTEP mundur karena menilai proyek tersebut tidak ekonomis. Meskipun cadangan Blok East Natuna bisa sebesar 226 trillion cubicfeet (tcf), tetapi kandungan CO2 cukup tinggi, yaitu hingga mencapai 72%. Jika sampai diproduksi, cadangan akan menyusut hingga 46 tcf saja.

"Apalagi memakai gross split, " ungkap Afiat.

Selain itu, alasan PTTEP mundur dari East Natuna karena induk usaha mereka sedang menghadapi gugatan di Pengadilan Jakarta Pusat terkait pencemaran perairan di Nusa Tenggara Timur pasca bocornya minyak mentah dari unit pengeboran di Montara tahun 2009 silam. 

"Tetapi kami yakin akan selesai kasus ini, begitu selesai kami akan melanjutkan bisnis," katanya.

Titi Thongjen General Manager PTTEP South Mandar Limited and PTTEP Malunda Limited Indonesia, menjelaskan, sementara ini, pihaknya menghentikan investasi di Indonesia meskipun keinginan berinvestasi di Indonesia dari PTTEP yang merupakan BUMN Thailand tersebut masih sangat besar. 

"Tidak berarti kami berhenti, hold sementara," kata dia.

Dia juga menjelaskan, potensi bisnis di Indonesia masih sangat besar. Untuk itu, perusahaan ini masih terus akan berada di Indonesia. Sejauh ini, PTEEP masih memiliki 11,5% hak partisipasi di Natuna Sea Blok A. Adapun Blok Mandar Selatan sudah dikembalikan ke pemerintah. 

Di luar itu, Blok Malunda di Sulawesi Barat juga masih dalam proses pengembalian kepada pemerintah. PTTEP mendapatkan dua blok yang akan dikembalikan tersebut sejak tahun 2010 lalu.

Kontan, Page-14, Wednesday, Jan 10, 2018