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Tuesday, December 18, 2018

Government Signs Gross Split Contract



The government continues to boost gross split schemes to replace cost recovery in the management of national oil and gas (oil and gas). The Ministry of Energy and Mineral Resources (ESDM) yesterday signed two oil and gas block contracts using gross split scheme.

Energy Equity Epic Sengkang

First, the contract extension of the Sengkang Block managed by Energy Equity Epic Sengkang. This block contract is extended for 20 years, starting from 2022 later.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto, said that Equity Epic Sengkang will get 100% participation rights with the obligation to submit 10% of the participating rights to the Regional Owned Enterprise Fund (BUMD). Well, Energy Equity is obliged to pay a signature bonus of US $ 12 million and a 10% executive guarantee of a defined work commitment (KKP) of US $ 88 million.
Djoko said, Energy Equity has paid for all of these obligations. President of Energy Equity Epic (Sengkang) Pty Ltd, Andi Riyanto, said the Sengkang Block still has gas reserves of 3 to 4 trillion cubic feet (TCF).

"We will conduct a joint study in the Karaeng Block and exploration activities in the first five years," he explained.

The exploration activities in question are seismic surveys and drilling of two wells. Andi said, the production of the Sengkang Block could increase to 100-200 MMSCFD in stages over five years, starting in 2022. At present, the production of the Sengkang Block is 60 mmscfd.

In addition to the Sengkang Block, the ESDM Ministry yesterday has amended the Sepinggan Block contract from the production sharing contract (PSC) cost recovery to gross split PSC.

 ENI - Italy

      Holders of the participation rights of WK East Sepinggan are 85% of Eni East Sepinggan Limited and 15% of PT Pertamina Hulu Energi East Sepinggan. Eni East Sepinggan acts as the operator.

Arcandra Tahar

Deputy Minister of ESDM Arcandra Tahar said Eni and PHE voluntarily replaced the contract to gross split. The reason is that there is a long debate between the government and Eni about the costs so that the Sepinggan Block project is a year late.

"Now the project is becoming more certain," he said.

IN INDONESIAN

Pemerintah Teken Kontrak Gross Split


Pemerintah terus menggenjot skema gross split menggantikan cost recovery dalam tata kelola minyak dan gas (migas) nasional. Kementerian Energi dan Sumber Daya Mineral (ESDM) kemarin menandatangani dua kontrak blok migas dengan menggunakan skema gross split.

Pertama, perpanjangan kontrak Blok Sengkang yang dikelola Energy Equity Epic Sengkang. Kontrak blok ini diperpanjang selama 20 tahun, terhitung mulai 2022 nanti.

Dirjen Migas Kementerian ESDM, Djoko Siswanto, menyebutkan Equity Epic Sengkang akan mendapatkan 100% hak partisipasi dengan kewajiban menyerahkan 10% hak partisipasi kepada Dana Usaha Milik Daerah (BUMD). Nah, Energy Equity berkewajiban membayar bonus tanda tangan sebesar US$ 12 juta dan jaminan pelaksana 10% dari komitmen kerja pasti (KKP) sebesar US$ 88 juta.

Djoko bilang, Energy Equity telah membayar seluruh kewajiban tersebut. President Energy Equity Epic (Sengkang) Pty Ltd, Andi Riyanto, mengatakan Blok Sengkang masih memiliki cadangan gas sebesar 3 hingga 4 triliun kaki kubik (TCF). 

"Kami akan melakukan join study di Blok Karaeng dan kegiatan eksplorasi dalam lima tahun pertama," terang dia.

Kegiatan eksplorasi yang dimaksud adalah survei seismik dan pengeboran dua sumur. Andi bilang, produksi Blok Sengkang bisa meningkat hingga 100-200 mmscfd secara bertahap selama lima tahun, mulai tahun 2022. Saat ini, produksi Blok Sengkang sebesar 60 mmscfd.

Selain Blok Sengkang, Kementerian ESDM kemarin telah mengamendemen kontrak Blok Sepinggan dari production sharing contract (PSC) cost recovery menjadi PSC gross split. Pemegang hak partisipasi WK East Sepinggan adalah Eni East Sepinggan Limited sebesar 85% dan PT Pertamina Hulu Energi East Sepinggan sebesar 15%. Eni East Sepinggan bertindak sebagai operator.

Wakil Menteri ESDM Arcandra Tahar bilang Eni dan PHE secara sukarela mengganti kontrak ke gross split. Alasannya, ada perdebatan panjang antara pemerintah dan Eni tentang  biaya sehingga proyek Blok Sepinggan terlambat setahun. 

"Kini proyek menjadi lebih pasti," kata dia. 

Kontan, Page-14, Wednesday, Dec 12, 2018

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