Merakes Field Contract 1 is Expected to Become a Gross Split

Eni Indonesia agreed to change its Merakes Field production contract (PSC) contract, the Sepinggan East Block into a gross split scheme, from the previous cost recovery. Revision of the contract and approval of this block development plan before 12 December.

Eni Indonesia

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, Eni agreed to turn PSC into a gross split because it pursued the efficiency offered by this scheme. Furthermore, this scheme is considered to provide certainty, because by using a gross split PSC the auction process and project execution will be faster.

Arcandra Tahar

"So that they (Eni) see an opportunity and this savings is significant. We are targeting the POD to be approved and the PSC amended most late before December 12, "he said in Jakarta.

He promised, the transfer process from PSC cost recovery to gross split could be very fast. The East Sepinggan Block contract began on July 20, 2012 and ends in July 2042. The 30-year contract period consists of a 20-year exploration phase and 10-year production. In this contract, Eni Indonesia holds the right of participation (participating interest / Pl) of 85% and PT Pertamina Hulu Energi (PHE) 15%. It has also set a split for this block split gross PSC.

"Oil 67%, gas 72%, it's a base split plus a split variable for contractors," said Arcandra.

However, he hopes that Eni can increase the level of domestic content (TKDN) of this project so that the splits can increase.

"We ask them to increase local content, if gross split (local content) is 30-50%, they get 2% split," he added.

For the plan to develop Merakes Field, said Arcandra, it is targeted to be able to produce gas up to 391 million cubic feet per day (million standard cubic feet per day / mmscfd) with total production along the contract of 814 billion cubic feet. The production period of this field according to its economy is estimated to be around 9 years.

"The on-stream plan is 2021," he said.

IN INDONESIAN

Kontrak Lapangan Merakes 1 Diunah Menjadi Gross Split 

Eni Indonesia sepakat mengubah kontrak kerja samanya (production sharing contract/ PSC) Lapangan Merakes, Blok East Sepinggan menjadi skema bagi hasil kotor (gross split), dari sebelumnya cost recovery. Revisi kontrak dan persetujuan rencana pengembangan blok ini sebelum 12 Desember.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, Eni sepakat mengubah PSC menjadi gross split karena mengejar efisiensi yang ditawarkan skema ini. Selanjutnya, skema ini dinilai memberikan kepastian, karena dengan memakai PSC gross split maka proses lelang dan pengerjaan proyek menjadi lebih cepat.

“Sehingga mereka (Eni) melihat sebuah opportunity dan penghematan ini signifikan. Kami targetkan POD disetujui dan PSC diamendemen paling telat sebelum 12 Desember,” kata dia di Jakarta. 

Dia menjanjikan, proses pengalihan dari PSC cost recovery ke gross split bisa sangat cepat. Kontrak Blok East Sepinggan ini dimulai pada 20 Juli 2012 dan berakhir pada Juli 2042. Jangka waktu kontrak selama 30 tahun ini terdiri dari fase eksplorasi 20 tahun dan produksi 10 tahun. Dalam kontrak ini, Eni Indonesia memegang hak partisipasi (participating interest/ Pl) sebesar 85% dan PT Pertamina Hulu Energi (PHE) 15%. Pihaknya juga telah menetapkan bagi hasil (split) untuk PSC gross split blok ini. 

“Oil 67%, gas 72%, itu base split plus variable split untuk kontraktor,” tutur Arcandra. 

Namun pihaknya berharap Eni dapat menaikkan tingkat kandungan dalam negeri (TKDN) proyek ini sehingga splinya bisa bertambah. 

“Kami minta mereka meningkatkan local content, kalau gross split (local content) 30-50%, mereka mendapatkan 2% split,” tambahnya.

Untuk rencana pengembangan Lapangan Merakes, tutur Arcandra, ditargetkan dapat menghasilkan gas hingga 391 juta kaki kubik per hari (million standard cubic feet per day/mmscfd) dengan total produksi sepanjang kontrak 814 miliar kaki kubik. Masa produksi lapangan ini sesuai keekonomiannya diperkirakan sekitar 9 tahun.

“Rencana onstream-nya 2021,” ujarnya. 

Investor Daily, Page-9, Wednesday, Dec 5, 2018