The signing of the new Sengkang and East Sepinggan Block contracts with gross or gross split schemes is projected to increase natural gas production from the two oil and gas working areas.
Energy Equity Epic (Sengkang) Pty. Ltd.
Energy Equity Epic (Sengkang) Pty. Ltd., operator of the Sengkang Block, is committed to increasing gas production to increase to 100 million-200 million cubic feet per day (million standard cubic feet per day / MMscfd) compared to the current 60 MMscfd. The Merakes Field gas production, the East Sepinggan Block will be increased to 391 MMscfd from the current level of 155 MMscfd.
Energy Equity Epic will increase natural gas production in the oil and gas working area located in South Sulawesi up to 200 MMscfcl from 2020. President of Energy Equity Epic Andi Riyanto said that after the new Sengkang Block contract took effect, it targets natural gas production to increase to 100-200 MMscfd compared to the current 60 MMscfd.
The development is part of a definite work commitment of US $ 88 million over the first 5 years since the gross split contract was signed. The work commitment is definitely the value of the exploration investment that will be issued by Epic Energy Equity in the Sengkang Block.
The government extended the Sengkang Block contract for 20 years to Epic Energy Equity, which is an existing operator in the region. However, the contract scheme was changed from a cost recovery operation to a gross split. The new contract will take effect from October 24, 2022.
"Definite work commitments start in 2022 [until 2027], but from management we ask to accelerate. So, by 2020, we have already flowed part of that definite work commitment, "he said after signing the gross split contract of the Sengkang Block at the ESDM Ministry office.
Andi explained that the target of increasing production to 200 MMscfd will be carried out in stages over 5 years. In 2020, it will start conducting three-dimensional seismic surveys and drilling around two exploration wells. Energy Equity has begun to explore potential buyers for the potential for additional gas production. One potential potential buyer who has been named is a local-owned company South Sulawesi Provincial Government.
In the gas sale and purchase business scheme, Energy Equity will sell gas that has been processed into liquid natural gas (LNG) which will be used to meet the needs of power plants.
"This LNG marketed in South Sulawesi was in accordance with the wishes of the Governor of South Sulawesi, using gas for the benefit of South Sulawesi. Many have no electricity. Indeed this gas is the biggest consumer of electricity then in industries such as petrochemicals. However, there is no [petrochemical industry] in South Sulawesi, "he said.
At present, the average production of the Sengkang Block is as much as 60 MMscfd and all of it is purchased by PT Perusahaan Listlik Negara (Persero). Regarding the selling price of gas, Andi has not yet calculated. Gas price adjustments will be calculated after discussion of the required production and the term of the contract from the prospective gas buyer.
‘We like a MoU [memorandum of understanding] beforehand with prospective buyers of [gas from the Sengkang Block]. We are sure with SKK Migas, how many volumes, how many years. We can only calculate the economy. However, gas prices will be determined on a business basis. "
Arcandra Tahar
Deputy Minister of ESDM Arcandra Tahar explained that 100% of the Sengkang Block participation rights were still given to Epic Energy Equity. The company is willing to pay a signature bonus of US $ 12 million. The 100% ownership rights include the rights of 10% regional-owned enterprises (BUMD).
Based on company information, the Sengkang Block has proven natural gas reserves of 800 billion cubic feet (bcf) and has a resource reserve of 2 trillion cubic feet (tcf).
EAST SEPINGGAN
Besides Sengkang, the ESDM Ministry also signed a new East Sepinggan Block contract located in the Makassar Strait. The signing was carried out by the Deputy Minister of ESDM Arcandra Tahar along with Director General of Oil and Gas Djoko Siswanto and SKK Migas Head Dwi Soetjipto along with Energy Equity Epic Sengkang, Eni (oil and gas company from Italy), and PT Pertamina Hulu Energi East Sepinggan.
Eni (oil and gas company from Italy)
The new East Sepinggan Block contract uses a gross profit sharing scheme to replace the cost recovery model. East Sepinggan became the first oil and gas working area to switch and cost recovery to gross split. So far, there have been several oil and gas blocks that have shifted from cost recovery to gross split. However, the block contract has expired. In contrast to East Sepinggan whose contract is still valid.
ENI - Italy
Eni proposed changing the contract scheme with the reason for the effectiveness of the development of the offshore oil and gas working area. Eni through its subsidiary Eni East Sepinggan Ltd. became a block operator with 85% participation rights and PT Pertamina Hulu Energi East Sepinggan at 15%.
Arcandra explained, the oil and gas contract with the gross split scheme would be simpler and able to create efficiency in oil and gas production. Regarding the change in the contract, Eni must revise the Merakes field plan of development in the Sepinggan East Block area. PoD Merakes previously used a cost recovery scheme.
ENI - Italy
Arcandra estimates gas production from the Merakes field of 155 MMscfd and will reach a peak production of around 391 MMscfd. In addition, this field has gas reserves of 814 bcf. The economic age of the East Sepinggan Block is estimated to be 9 years since the first production.
According to him, the Merakes Field project will start operating in 2021 or retreat from the initial projection at the end of 2019. Eni obtains 67% profit share for oil, while natural gas is 72% which is the cumulative base result and variable profit sharing in the scheme gross split contract. SKK Migas Head Dwi Soetjipto said that the East Sepinggan Block gas production could be faster than the year set.
Dwi Soetjipto
"Yes, it was 2021 [production], it is expected to be faster than 2021. Dwi is optimistic that the project can operate faster because the contractor has changed the contract scheme into gross profit sharing.
"We see the acceleration in its implementation. In the past, cost recovery was due to having to go back and forth to SKK Migas if it would issue money. If this "gross split) themselves [determine shopping]," he added.
According to him, accelerating the production target will make additional gas production ready to sell (lifting) in Indonesia.
IN INDONESIAN
Produksi Sengkang & Sepinggan Akan Naik
Penandatanganan kontrak baru Blok Sengkang dan East Sepinggan dengan skema bagi kotor atau gross split diproyeksikan meningkatkan produksi gas bumi dari kedua wilayah kerja migas itu.
Energy Equity Epic (Sengkang) Pty. Ltd., operator Blok Sengkang, berkomitmen untuk meningkatkan produksi gas hingga meningkat menjadi 100 juta-200 juta kaki kubik per hari (million standard cubic feet per day/MMscfd) dibandingkan dengan saat ini 60 MMscfd. Produksi gas Lapangan Merakes, Blok East Sepinggan akan ditingkatkan hingga 391 MMscfd dari saat ini sebeasar 155 MMscfd.
Energy Equity Epic akan meningkatkan produksi gas bumi di wilayah kerja migas yang berlokasi di Sulawesi Selatan itu hingga 200 MMscfcl mulai 2020. President Energy Equity Epic Andi Riyanto mengatakan bahwa setelah kontrak baru Blok Sengkang berlaku, pihaknya menargetkan produksi gas bumi bisa meningkat menjadi 100-200 MMscfd dibandingkan dengan saat ini 60 MMscfd.
Pengembangan tersebut menjadi bagian dari komitmen kerja pasti sebesar US$ 88 juta selama 5 tahun pertama sejak kontrak bagi hasil kotor (gross split) ditandatangani. Komitmen kerja pasti merupakan nilai investasi eksplorasi yang akan dikeluarkan Energy Equity Epic di Blok Sengkang. Pemerintah memperpanjang kontrak Blok Sengkang selama 20 tahun kepada Energy Equity Epic, yang merupakan operator eksis di wilayah tersebut. Namun, skema kontrak diubah dari biaya operasi yang dapat dikembalikan (cost recovery) menjadi gross split. Kontrak baru itu akan berlaku mulai-24 Oktober 2022.
“Komitmen kerja pasti mulai 2022 [sampai 2027], tetapi dari manajemen kami minta untuk melakukan percepatan. Jadi, pada 2020, kami sudah mengalirkan bagian dari komitmen kerja pasti itu,” katanya setelah menandatangani kontrak gross split Blok Sengkang di kantor Kementerian ESDM.
Andi menjelaskan bahwa target peningkatan produksi hingga 200 MMscfd tersebut akan dilakukan secara bertahap selama 5 tahun. Pada 2020, pihaknya akan mulai melakukan survei seismik tiga dimensi dan melakukan pengeboran sekitar dua sumur eksplorasi. Energy Equity sudah mulai menjajaki calon pembeli untuk potensi penambahan produksi gas tersebut. Salah satu calon pembeli potensial yang sudah dijaiaki adalah perusahaan daerah milik
Pemerintah Provinsi Sulawesi Selatan.
Dalam skema bisnis jual beli gas tersebut, Energy Equity akan menjual gas yang sudah diolah menjadi gas alam cair (liquid natural gas/LNG) yang akan dimanfaatkan untuk memenuhi kebutuhan pembangkit listrik.
“LNG ini dipasarkan di Sulawesi Selatan dahulu sesuai dengan keinginan Gubernur Sulawesi Selatan, manfaatkan gas untuk kepentingan Sulawesi Selatan. Banyak yang belum ada kelistrikan. Memang gas ini konsumen terbesarnya listrik kemudian di industri seperti petrokimia. Namun, di Sulawesi Selatan belum ada [industri petrokimia],” katanya.
Saat ini, rerata produksi gas Blok Sengkang sebanyak 60 MMscfd dan seluruhnya dibeli oleh PT Perusahaan Listlik Negara (Persero). Terkait dengan harga jual gas, Andi belum melakukan kalkulasi. Penyesuaian harga gas akan dihitung setelah ada pembahasan produksi yang dibutuhkan dan jangka kontrak dari calon pembeli gas.
‘Kami semacam MoU [nota kesepahaman] dahulu dengan calon-calon pembeli [gas dari Blok Sengkang]. Kami pastikan dengan SKK Migas, berapa banyak volume, jangka waktu berapa tahun. Baru bisa kami hitung keekonomian. Namun, harga gas akan ditentukan secara bisnis.”
Wakil Menteri ESDM Arcandra Tahar menjelaskan bahwa 100% hak partisipasi Blok Sengkang masih diberikan kepada Energy Equity Epic. Petusahaan itu bersedia membayar bonus tanda tangan US$ 12 juta. Kepemilikan 100% hak partisipasi tersebut sudah termasuk hak 10% badan usaha milik daerah (BUMD).
Berdasarkan informasi perusahaan, Blok Sengkang mempunyai cadangan terbukti gas bumi sebesar 800 miliar kaki kubik (bcf) dan memiliki cadangan sumber daya sebanyak 2 triliun kaki kubik (tcf).
EAST SEPINGGAN
Selain Sengkang, Kementerian ESDM juga menandatangani kontrak baru Blok East Sepinggan yang berlokasi di Selat Makassar Penandatanganan tersebut dilakukan oleh Wakil Menteri ESDM Arcandra Tahar bersama dengan Dirjen Migas Djoko Siswanto dan Kepala SKK Migas Dwi Soetjipto bersama dengan Energy Equity Epic Sengkang, Eni (perusahaan migas dari Italia), dan PT Pertamina Hulu Energi East Sepinggan.
Kontrak baru Blok East Sepinggan menggunakan skema bagi hasil kotor menggantikan model cost recovery. East Sepinggan menjadi wilayah kerja migas pertama yang beralih dan cost recovery ke gross split. Selama ini, sudah ada beberapa blok migas yang beralih dari cost recovery ke gross split. Namun, kontrak blok tersebut sudah habis. Berbeda dengan East Sepinggan yang kontraknya masih berlaku.
Eni mengusulkan perubahan skema kontrak tersebut dengan alasan untuk efektifitas pengembangan wilayah kerja migas lepas pantai tersebut. Eni melalui anak usahanya Eni East Sepinggan Ltd. menjadi operator blok dengan hak partisipasi sebesar 85% dan PT Pertamina Hulu Energi East Sepinggan sebesar 15%.
Arcandra menjelaskan, kontrak migas dengan skema gross split akan lebih sederhana dan mampu menciptakan efisiensi dalam produksi migas. Terkait dengan perubahan kontrak tersebut, Eni harus melakukan revisi rencana pengembangan (plan of development/PoD) lapangan Merakes yang berada di area Blok East Sepinggan. PoD Merakes sebelumnya menggunakan skema cost recovery.
Arcandra meinperkirkan produksi gas dari lapangan Merakes sebesar 155 MMscfd dan akan mencapai puncak produksi sekitar 391 MMscfd. Selain itu, lapangan ini memiliki cadangan gas sebesar 814 bcf. Untuk usia lapangan ekonomis Blok East Sepinggan diperkirakan selama 9 tahun sejak produksi pertama.
Menurutnya, proyek Lapangan Merakes akan mulai beroperasi pada 2021 atau mundur dari proyeksi awal pada akhir 2019. Eni memperoleh bagi hasil 67% untuk minyak, sedangkan gas bumi sebesar 72% yang merupakan kumulatif bagi hasil awal (base split) dan bagi hasil variabel dalam skema kontrak gross split. Kepala SKK Migas Dwi Soetjipto mengatakan, produksi gas Blok East Sepinggan bisa lebih cepat dari tahun yang ditetapkan.
"Iya tadinya 2021 [produksi], diharapkan bisa lebih cepat dari 2021. Dwi optimistis, proyek tersebut bisa beroperasi lebih cepat karena kontraktor telah mengubah skema kontrak menjadi bagi hasil kotor.
“Kami lihat percepatan itu dalam implementasinya. Kalau dulu cost recovery karena harus bolak-balik ke SKK Migas kalau akan mengeluarkan uang. Kalau ini
[gross split) mereka sendiri [menentukan belanja],“ imbuhnya.
Menurutnya, percepatan target produksi itu akan membuat penambahan produksi gas siap jual (lifting) di Indonesia.
Bisnis Indonesia, Page-24, Wednesday, Dec 12, 2018
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