Next year, Pertamina invests US $ 3 billion

Pertamina targets oil production of 414,000 bopd and gas 2,944 mmscfd in 2019.

PT Pertamina has designed a work plan next year. This state-owned company is determined to increase oil production throughout 2019. Pertamina targets 2019 oil production to reach 414,000 barrels of oil per day (bopd). That figure rose 215% compared to this year's production target of 400,000 bopd.

the Banyu Urip Cepu Block Field.

Oil production growth will come from the production of the Banyu Urip Cepu Block Field. There is also an increase in oil production from several Pertamina subsidiaries, such as Pertamina Upstream Energy (PHE), Pertamina International EP (PIEP) and Pertamina Hulu Indonesia (PHI). While next year's gas production has the potential to shrink 125 mmscfd from this year's target of 3,069 mmscfd.

"The gas production target in 2019 is 2,944 mmfcsd," said Meidawati, Senior Vice President of Upstream Strategic Planning and Operation PT Pertamina.

The decline in gas production occurred due to problems in the Musi structure, Pendopo Field, which was managed by PT Pertamina EP Besides that, the production of the Mahakam Block is projected to be not optimal next year.

the Mahakam Block

"There is a slight decrease from the Mahakam Block," explained Meidawati.

In order for the production target to be achieved next year, Pertamina allocates investments of US $ 2.5 billion to US $ 3 billion, next year's investment in upstream oil and gas is higher than this year which ranges from US $ 2.3 billion to US $ 2.4 billion.

Pertamina will use the investment funds for production activities, especially well drilling. The acquisition of oil and gas fields is still under internal evaluation.

"There are also acquisitions but not many. That does not include the Rokan Block transition," Meidawati said.

Oil and gas well drilling activities will mainly be carried out in oil and gas fields managed by Pertamina EP and Pertamina Hulu Indonesia. Pertamina will also maximize investment in the Jambaran Tiung Biru project.

Until the end of September this year, Pertamina's oil and gas production realization was still slightly below the target. Meidawati said that Pertamina's oil production in September 2018 was still at 384,000 bopd, while gas production was 3,060 mmscfd.

Even so, Meidawati is optimistic that the oil and gas production target can be achieved by the end of the year. The investment realization of upstream oil and gas up to September 2018 reached US $ 1 billion, also still far from this year's target of US $ 2.3 billion to US $ 2.3 billion.

UGM Economic and Energy Observer, Fahmy Radhi assessed that Pertamina's investment in the next year with a maximum of only US $ 3 billion will not meet the funding needs to increase the production of oil and gas blocks they manage, especially termination blocks. The investment value is also considered only sufficient for the Mahakam Block.

If you want to increase production, Pertamina should invest US $ 5 billion next year. The investment is used for technology investments that can increase oil and gas production, especially in old wells that are managed by Pertamina.

"If I use old equipment and technology, I suspect Pertamina's production target will not be achieved," Fahmy said.

Pertamina Cannot Boost the Rokan Block

     The management of PT Pertamina is pessimistic that it can increase oil and gas production in the Rokan Block which is officially managed in 2021. Because, currently the oil and gas block production continues to decline. 

    Meidawati, Pertamina's Senior Vice President of the Upstream Strategic Planning and Operation Evaluation, said that this year the Rokan Block is still targeted at 200,000 barrels per day (bpd).

      But in the 2019 National Budget, the Rokan Block is only targeted to produce 180,000 bpd or decrease by 20,000 bpd in a year. He considered the decline in Blok Rokan production because the current manager Chevron Pacific Indonesia did not issue investments in the block ahead of the termination period. 

the Rokan Block

     On the other hand, Pertamina has not been able to immerse investment in the Rokan Block like when managing the Mahakam Block.


"Usually, all termination block operators can almost say they do not invest, because they are afraid that the funds will not be returned," said Meidawati

IN INDONESIAN

Tahun Depan, Pertamina Investasi US$ 3 Miliar  

Pertamina menargetkan produksi minyak 414.000 bopd dan gas 2.944 mmscfd di 2019.

PT Pertamina telah merancang rencana kerja tahun depan. Perusahaan milik negara ini bertekad meningkatkan produksi minyak di sepanjang 2019. Pertamina membidik produksi minyak 2019 mencapai 414.000 barrels oil per day (bopd). Angka itu naik 215% dibandingkan target produksi tahun ini 400.000 bopd.

Pertumbuhan produksi minyak akan berasal dari produksi Lapangan Banyu Urip Blok Cepu. Ada juga kenaikan produksi minyak dari beberapa anak usaha Pertamina, seperti Pertamina Hulu Energi (PHE), Pertamina Internasional EP (PIEP) dan Pertamina Hulu Indonesia (PHI). Sementara produksi gas tahun depan berpotensi menyusut 125 mmscfd dari target tahun ini sebesar 3.069 mmscfd.

"Target produksi gas di 2019 sebesar 2.944 mmfcsd," ungkap Meidawati, Senior Vice president Upstream Strategic Planning and Operation.

Operation PT Pertamina.

Penurunan produksi gas terjadi lantaran ada masalah di struktur Musi, Lapangan Pendopo, yang dikelola PT Pertamina EP Selain itu, produksi Blok Mahakam diproyeksikan belum optimal pada tahun depan. 

“Ada penurunan sedikit dari Blok Mahakam," jelas Meidawati.

Agar target produksi tahun depan bisa tercapai, Pertamina mengalokasikan investasi US$ 2,5 miliar hingga US$ 3 miliar, Angka investasi hulu migas tahun depan lebih tinggi dibandingkan tahun ini yang berkisar US$ 2,3 miliar hingga US$ 2,4 miliar.

Pertamina akan menggunakan dana investasi tersebut untuk kegiatan produksi, terutama pengeboran sumur. Adapun untuk kegiatan akuisisi lapangan migas masih dalam evaluasi internal. 

"Ada juga untuk akuisisi tapi tidak banyak. Itu belum termasuk transisi Blok Rokan," kata Meidawati.

Aktivitas pengeboran sumur migas terutama akan dilakukan di lapangan migas yang dikelola Pertamina EP dan Pertamina Hulu Indonesia. Pertamina juga akan memaksimalkan investasi di proyek Jambaran Tiung Biru. 

Hingga akhir September tahun ini, realisasi produksi migas Pertamina masih sedikit di bawah target. Meidawati menyebutkan produksi minyak Pertamina pada September 2018 masih sebesar 384.000 bopd, sementara produksi gas 3.060 mmscfd.  

Meski begitu, Meidawati optimistis target produksi migas bisa tercapai hingga akhir tahun nanti. Realisasi investasi hulu migas hingga September 2018 mencapai US$ 1 miliar, juga masih jauh dari target sepanjang tahun ini US$ 2,3 miliar hingga US$ 2,3 miliar. 

Pengamat Ekonomi dan Energi UGM, Fahmy Radhi menilai investasi Pertamina pada tahun depan yang maksimal hanya US$ 3 miliar tidak akan mencukupi kebutuhan dana untuk meningkatkan produksi blok migas yang mereka kelola, terutama blok terminasi. Nilai investasi tersebut juga dinilai hanya cukup untuk Blok Mahakam.

Jika ingin meningkatkan produksi, Pertamina seharusnya berinvestasi US$ 5 miliar pada tahun depan. Investasi tersebut digunakan untuk investasi teknologi yang bisa meningkatkan produksi migas, terutama di sumur tua yang banyak dikelola Pertamina.

"Jika menggunakan peralatan dan teknologi lama, saya menduga target produksi Pertamina tidak akan tercapai," ungkap Fahmy.

Pertamina Belum Bisa Menggenjot Blok Rokan

Manejemen PT Pertamina pesimistis bisa meningkatkan produksi minyak dan gas di Blok Rokan yang resmi dikelola pada tahun 2021. Pasalnya, saat ini produksi blok migas tersebut terus mengalami penurunan. 

    Meidawati, Senior Vice President Upstream Strategic Planning and Operation Evaluation Pertamina menyebutkan pada tahun ini Blok Rokan masih ditargetkan beroduksi 200.000 barel per hari (bph). 

    Namun di APBN 1 2019, Blok Rokan hanya ditargetkan berproduksi 180.000 bph atau turun 20.000 bph dalam setahun. Dia menilai penurunan produksi Blok Rokan karana pengelola saat ini Chevron Pacific Indonesia tidak mengeluarkan investasi di blok tersebut menjelang masa terminasi. 

    Di sisi lain, Pertamana belum bisa membenamkan investasi di Blok Rokan seperti ketika alih kelola Blok Mahakam.


"Biasanya semua operator blok terminasi hampir bisa dibilang tidak melakukan investasi, karena mereka takut dananya tidak balik," ungkap Meidawati

Kontan, Page-14, Thursday, Nov 8, 2018