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Thursday, June 21, 2018

Pertamina Begins Sharedown Process Right of Participation in Termination Block



PT Pertamina (Persero) has initiated a process of sharedown or partial disposal of participating interest (PI) in termination of oil and gas blocks that have been assigned to the company. The Company expects to have a sharedown process completed this year. Upstream Director of Pertamina Syamsu Alam said the bidding process starts from the oil and gas block where the company's production shafing contract (PSC) is already effective.

The reason, even though the PSC for ten oil and gas blocks have been signed but the contract has not been fully operational since the existing contracts of several oil and gas blocks are still valid. The offer of such participation rights will be phased in accordance with the effectiveness of Pertamina's contract.

"It's started (sharedown), is being prioritized. Of course, we have a contract, "he said.

Working Area Oil and Gas

As reported previously, Pertamina has signed a contract for 11 oil and gas blocks that ended its contract in 2017-2019. For 2018 terminating oil and gas blocks, Pertamina is granted 100% rights over eight blocks, namely Tuban, Ogan Komering, Sanga-Sanga, Southeast Sumatera (SES), North Sumatra Offshore (NSO), East Kalimantan, Attaka and Central Blocks. 

    For blocks that have terminated the old contract and the new contract is effective is the Tuban Block, Ogan Komering, and Attaka. However, the management of the Attaka Block is combined with the East Kalimantan Block whose contract has just been terminated on 24 October.

Subsequently, the Sanga-Sanga Block contract will run out on August 7, SES on September 5, Middle on October 4, and NSO on October 15. For the other two blocks assigned to Pertamina are the Jambi Merang and Raja-Pendopo Blocks. 

     However, the existing contract of both oil and gas blocks has just been completed next year. Thus, Pertamina's contract has just started to be effective next year. Another effective Pertamina contract is for the Mahakam Block. The effective termination block participation contract is targeted for completion this year.

"We expect something to be done this year," Alam said.

Separately, Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto said that many oil and gas companies are interested in purchasing termination block participation rights offered by Pertamina. Some of the oil and gas blocks of Pertamina that interest other oil and gas companies are Mahakam Block, Sanga-Sanga, East Kalimantan and Jambi Merang.



"In Jambi Merang, Repsol and Pacific Oil are interested. Inpex is interested in the Mahakam Block. In Sanga-Sanga, Saka Energy is interested. East Kalimantan, many private companies want to, "he said.



However, the oil and gas company has not officially started negotiations with Pertamina. Because the oil and gas company is waiting Pertamina open the purchase of rights of participation. Pertamina itself is doing the valuation of the rights of the sold participation.

"Pertamina still asks for price valuation and must approve the Regional Finance Management Board (BPKD) and the Attorney General Office, so as not to be mistaken, so as not to be mistaken for BUMN," Djoko said.

Mahakam block

Meanwhile, Syamsu Alam confirmed that Total E & P Indonesie has long declared no interest in joining the Mahakam Block.

"There must be no communication with Total E & P related Mahakam," he said.

Unlike Total, lnpex Corporation Japan, which is a Total E & P Indonesie partner for 50 years working on the Mahakam Block, still wants to be involved in managing the oil and gas block in East Kalimantan. This Inpex interest has been submitted to Pertamina.

"There is communication with us if lnpex wants to participate in the Mahakam Block," Alam said.

In May last year, Total expressed interest in having a share of participation in the Mahakam Block. However, Total wants share ownership of up to 39%, above Pertamina's 30% removable stock limit. This 39% share is a joint for Total and Inpex Corporation which each have a share of 19.5%, if the proposal is approved.

IN INDONESIA

Pertamina Mulai Proses Sharedown Hak Partisipasi di Blok Terminasi


PT Pertamina (Persero) telah memulai proses sharedown atau pelepasan sebagian kepemilikan saham partisipasi (participating interest/PI) di blok migas terminasi yang telah ditugaskan ke perseroan. Perseroan berharap ada proses sharedown yang selesai pada tahun ini. Direktur Hulu Pertamina Syamsu Alam mengatakan, proses penawaran hak partisipasi ini dimulai dari blok migas di mana kontrak kerja sama (production shafing contract/ PSC) perseroan yang sudah berlangsung efektif. 

Pasalnya, meski PSC untuk sepuluh blok migas itu sudah ditandatangani namun kontrak belum seluruhnya beroperasi efektif mengingat kontrak eksisting beberapa blok migas masih berlaku. Sehinggal penawaran hak partisipasi tersebut akan dilakukan bertahap sesuai dengan efektifnya kontrak Pertamina. 

“Sudah dimulai (sharedown), sedang disusun prioritasnya. Tentu yang ditawarkan, kami sudah punya kontraknya,” kata dia.

Seperti diberitakan sebelumnya, Pertamina telah menandatangani kontrak untuk 11 blok migas yang berakhir kontraknya pada 2017-2019. Untuk blok migas terminasi 2018, Pertamina diberi hak 100% atas delapan blok, yakni Tuban, Ogan Komering, Sanga-Sanga, Southeast Sumatera (SES), North Sumatera Offshore (N SO), East Kalimantan, Attaka, dan Blok Tengah. Untuk blok yang telah berakhir kontrak lamanya dan kontrak baru berlaku efektif adalah Blok Tuban, Ogan Komering, dan Attaka. Namun, pengelolaan Blok Attaka digabung dengan Blok East Kalimantan yang kontraknya baru saja terminasi pada 24 Oktober nanti. 

Selanjutnya, kontrak Blok Sanga-Sanga akan habis pada 7 Agustus, SES pada 5 September, Tengah pada 4 Oktober, dan NSO pada 15 Oktober. Untuk dua blok lain yang ditugaskan ke Pertamina adalah Blok Jambi Merang dan Raja-Pendopo. Namun, kontrak eksisting kedua blok migas ini baru saja selesai pada tahun depan. Sehingga, kontrak Pertamina baru saja mulai efektif pada tahun depan. Satu lagi kontrak Pertamina yang sudah berlaku efektif adalah untuk Blok Mahakam. Penawaran hak partisipasi blok terminasi yang sudah efektif kontrak Pertamina tersebut ditargetkan selesai tahun ini. 

“Kami harapkan ada yang bisa selesai tahun ini,” tegas Alam.

Di tempat terpisah, Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto menuturkan, banyak perusahaan migas yang berminat membeli hak partisipasi blok terminasi yang ditawarkan oleh Pertamina. Beberapa blok migas Pertamina yang diminati perusahaan migas lain tersebut adalah Blok Mahakam, Sanga-Sanga, East Kalimantan, dan Jambi Merang.

“Di Jambi Merang, Repsol dan Pacific Oil berminat. Inpex berminat di Blok Mahakam. Di Sanga-Sanga, Saka Energi berminat. East Kalimantan, perusahaan swasta banyak yang mau,” kata dia.

Meski demikian, perusahaan migas tersebut belum resmi mulai negosiasi dengan Pertamina. Pasalnya, perusahaan migas ini menunggu Pertamina membuka penawaran pembelian hak partisipasi. Pertamina sendiri sedang melakukan valuasi hak partisipasi yang dijual itu. 

“Pertamina masih minta valuasi harga dan harus approve Badan Pengelola Keuangan Daerah (BPKD) dan Kejaksaan, supaya tidak salah, agar tidak dikira merugikan BUMN,” kata Djoko.

Blok Mahakam 

Sementara itu, Syamsu Alam membenarkan bahwa Total E&P Indonesie sudah sejak lama menyatakan tidak berminat bergabung mengelola Blok Mahakam. 

“Yang pasti sudah tidak ada komunikasi dengan Total E&P terkait Mahakam,” kata dia.

Namun berbeda dengan Total, lnpex Corporation Japan yang merupakan mitra Total E&P Indonesie selama 50 tahun menggarap Blok Mahakam, tetap ingin terlibat dalam pengelolaan blok migas di Kalimantan Timur tersebut. Minat Inpex ini telah disampaikan kepada Pertamina. 

“Ada komunikasi dengan kami kalau lnpex ingin berpartisipasi di Blok Mahakam,” tutur Alam.

Pada Mei tahun lalu, Total menyatakan berminat memiliki saham partisipasi di Blok Mahakam. Namun, Total menginginkan kepemilikan saham hingga 39%, di atas batas saham yang dapat dilepas Pertamina sebesar 30%. Saham 39% ini merupakan gabungan untuk Total dan Inpex Corporation yang masing-masing memiliki bagian 19,5%, jika usulan itu disetujui.

Investor Daily, Page-9, Wednesday, June 6, 2018

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