Until the end of September 2018, upstream oil and gas investment had reached US $ 7.90 billion. That number grew 17.21% compared to the same period last year which amounted to US $ 6.74 billion. However, the realization of oil and gas investment until the third quarter of 2018 is still far from the government's target.
The realization of oil and gas investment as of the end of September was recorded at only 56% of the target throughout 2018 which reached US $ 14.2 billion. Seeing these conditions, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) projects that by the end of the year, investment in the oil and gas sector will only reach US $ 11.2 billion or 79% of this year's target.
Head of the SKK Migas Program and Communication Division Wisnu Prabawa Taher revealed, the projection is in line with the estimated additional upstream oil and gas activities until the end of 2018. The calculation, taking into account current conditions, realization of activities and additional estimates of activities in the fourth quarter that can be completed, can be expected accordingly target and investment can be maximum.
The data is indeed dynamic and we continue to be interested, "Wisnu said. Although it is difficult to achieve the target, the realization of oil and gas investment so far is still better than the same period last year.
According to Wisnu, this year's increase in upstream oil and gas investment was due to an increase in activities in the upstream sector, especially investment to increase production which could reach 75% of the realization of upstream oil and gas investment or US $ 5.92 billion.
The remaining 20% is for investment in oil and gas field development and 5% for exploration activities. According to Wisnu, there are still low exploration investment figures due to the many exploration activities that are ongoing and not yet completed.
So according to Wisnu, investment costs have not yet entered the calculation of realization of investment achievements during the third quarter of this year. According to him, the large number of production activities also made the majority of upstream oil and gas investment come from subsidiaries of PT Pertamina and several multinational oil and gas companies that manage oil and gas production blocks in Indonesia.
"Increased investment compared to last year is in line with increased realization of production development and optimization activities, mainly among others at Pertamina EP, Pertamina Hulu Mahakam, Chevron Pacific Indonesia, ExxonMobil Cepu Limited, and BP," Wisnu concluded.
Production is only 95%
Meanwhile, SKK Migas projects that until the end of the year, the realization of lifting, the realization of oil and gas will only reach 95% of the target or by 1.9 million barrels of Oil equivalent per day (BOEPD). The estimate consists of the oil lifting outlook at the end of this year of around 97% or 776,000 barrels per day (bpd) and gas lifting of only 94% or 1.1 million BOEPD at the end of 2018.
Wisnu said that the realization of oil and gas lifting was only 95% due to several production constraints that occurred in a number of oil and gas projects. One of them is the technical constraints of production equipment that occurred in the ONWJ Block managed by PT Pertamina Hulu Energi (PHE). There are also effects from the technical constraints of the pipeline in the production facilities in the Rokan Block managed by Chevron Pacific Indonesia (CPI).
"But these obstacles have been handled well," Wisnu said.
Then, constraints also occur because oil and gas production is not in line with the target. As in the Medco Natuna project, the production from the well drilling is not in line with expectations and there is drilling rescheduling. According to Wisnu, the same thing happened at the Pertamina EP project, where the drilling results were below expectations. Likewise, the Pertamina Upstream Mahakam project delayed drilling due to rig selection.
IN INDONESIAN
Investasi Migas Tumbuh 17% di Kuartal Ketiga
Hingga akhir September 2018, investasi hulu migas telah mencapai US$ 7,90 miliar. Jumlah itu tumbuh 17,21% dibandingkan dengan periode yang sama tahun lalu yang sebesar US$ 6,74miliar. Namun, realisasi investasi migas hingga kuartal III 2018 masih jauh dari target pemerintah.
Realisasi investasi migas per akhir September tercatat hanya mencapai 56% dari target sepanjang 2018 yang mencapai US$ 14,2 miliar. Melihat kondisi tersebut, Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) memproyeksikan hingga akhir tahun nanti, investasi di sektor migas hanya akan mencapai US$ 11,2 miliar atau 79% dari target tahun ini.
Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengungkapkan, proyeksi tersebut sesuai dengan perkiraan tambahan kegiatan hulu migas hingga akhir tahun 2018. Perhitungannya, dengan pertimbangan kondisi saat ini, realisasi kegiatan dan perkiraan tambahan kegiatan di kuartal IV yang bisa selesai, harapannya bisa sesuai target dan investasi bisa maksimal. Datanya memang dinamis dan terus kami montor," ujar Wisnu. Meski sulit mencapai target, realisasi investasi migas sejauh ini masih lebih baik dibandingkan periode yang sama tahun lalu.
Menurut Wisnu, peningkatan investasi hulu migas tahun ini karena adanya peningkatan kegiatan di sektor hulu, Terutama investasi untuk peningkatan produksi yang bisa mencapai 75% dari realisasi investasi hulu migas atau mencapai US$ 5,92 miliar. Sisanya sebesar 20% untuk investasi pengembangan lapangan migas dan 5% untuk kegiatan eksplorasi. Menurut Wisnu, masih rendahnya angka investasi eksplorasi karena banyaknya kegiatan eksplorasi yang sedang berlangsung dan belum selesai.
Sehingga menurut Wisnu, biaya investasi belum masuk ke dalam perhitungan realisasi pencapaian investasi Selama kuartal ketiga tahun ini. Menurut dia, banyaknya kegiatan produksi pun membuat investasi hulu migas mayoritas berasal dari anak usaha PT Pertamina dan beberapa perusahaan migas multinasional yang mengelola blok migas produksi di lndonesia.
"Peningkatan investasi dibandingkan tahun lalu sejalan dengan peningkatan realisasi kegiatan pengembangan dan optimalisasi produksi, utamanya antara lain di Pertamina EP, Pertamina Hulu Mahakam, Chevron Pacific Indonesia, ExxonMobil Cepu Limited, dan BP," pungkas Wisnu.
Produksi hanya 95%
Sementara itu, SKK Migas memproyeksikan hingga akhir tahun nanti, realisasi lifting, realisasi migas hanya mencapai 95% dari target atau sebesar 1,9 juta barrel Oil equivalent per day (BOEPD). Estimasi tersebut terdiri dari outlook lifting minyak pada akhir tahun ini sekitar 97% atau 776.000 barel per hari (bph) dan lifting gas hanya sebesar 94% atau sebesar 1,1 juta BOEPD pada akhir tahun 2018.
Wisnu mengemukakan realisasi lifting migas yang hanya 95% disebabkan beberapa kendala produksi yang terjadi di sejumlah proyek migas. Salah satunya adalah kendala teknis peralatan produksi yang terjadi di Blok ONWJ yang dikelola oleh PT Pertamina Hulu Energi (PHE). Ada juga efek dari kendala teknis pipa di fasilitas produksi di Blok Rokan yang dikelola oleh Chevron Pacific Indonesia (CPI).
"Namun kendala tersebut sudah ditangani dengan baik," ungkap Wisnu.
Kemudian, kendala juga terjadi karena produksi migas yang tidak sesuai dengan target. Seperti di proyek Medco Natuna yang hasil produksi dari pengeboran sumurnya tidak sesuai dengan ekspektasi dan adanya reschedule pengeboran. Menurut Wisnu, hal serupa juga terjadi di proyek Pertamina EP, di mana hasil pengeboran di bawah ekspektasi. Begitu juga proyek Pertamina Hulu Mahakam yang menunda pengeboran karena terkait pemilihan rig.
Kontan, Page-14, Friday, Oct 5, 2018
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