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Monday, December 3, 2018

The Banyu Urip reserve is increasing



PT ExxonMobil Cepu Limited, operator of the Banyu Urip Field, Cepu Block in Bojonegoro, East Java, added 92 million barrels of crude oil reserves in the working area.



With the addition, the total oil reserves in Banyu Urip field increased to 821 million barrels from the previous 729 million barrels. Deputy Operation of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Fatar Yani Abdurrahman said that the additional reserves were obtained through ExxonMobil's exploration activities in the oil and gas working area.

"Banyu Urip oil reserves increased by 92 million barrels. This will automatically increase the total oil reserves in Banyu Urip, "he said at the Pertamina EP 2018 Media Gathering.

the Rokan Block By Chevron

Based on SKK Migas data, the average production of ready-to-sell oil (lifting) in Banyu Urip until September 2018 was recorded at 207,936 barrels per day (bpd), the second highest in the country after the Rokan Block.

the Rokan Block

The production of oil ready to sell oil in Block Rokan as of September 2018 reached 210,582 bpd and made it the highest oil and gas working area in Indonesia. However, based on the projections of SKK Migas, the average production of ready-to-sell oil from Banyu Urip until the end of this year was 210,811 bpd, while Rokan was 207,802.

Banyu Urip field

Banyu Urip field has the potential to shift the dominance of the Rokan Block as a legendary oil and gas working area in the country. When starting production in 2015, the Banyu Urip Field was able to produce 85,000 bpd of oil. Oil and block production continues to increase.

Based on an analysis of the environmental impact (EIA) proposed by the oil and gas company from the United States to the Ministry of Environment and Forestry at the end of July 2017, ExxonMobil received the blessing to drill oil from Banyu Urip to 220,000 bpd.

Rosneft Refinery

In the Cepu Block, ExxonMobil Cepu Ltd. holding shares of 20.50%, Ampolex 24.50%, PT Pertamina EP Cepu (PEPC) 45%, and BUMD 10%. Oil from the Banyu Urip Field is channeled through a 95 kilometer pipeline to the Gagak Rimang floating storage & offloading (FSO) located in the Java Sea.

FSO Gagak Rimang

The original Banyu Urip oil recoverable reserve was only 450 million barrels, then rose to 725 million barrels, and is now increasing to 821 million barrels. The Banyu Urip field also produces natural gas, but is relatively small. The gas is used to fuel gas power plants for electricity needs in the oil and gas working area.

The operating costs in producing oil and the Banyu Urip Field are only US $ 2.40 per barrel, the cheapest in Indonesia. Based on SKK Migas data, the average cost of oil production in the country is around US $ 18 per barrel. Meanwhile, the cost of oil production coupled with depreciation costs at Banyu Urip is also still below US $ 10 per barrel.

Besides Banyu Urip Field, ExxonMobil is still developing other fields in the Cepu Block, such as the Kedung Keris Field, Alas Tua West, Alas Tua East, and Giyanti. The Kedung Keris Field, Cepu Block is estimated to start production in early 2019 with 10,000 bpd. The company from the United States has also spent US $ 100 million to drill a new well on the Keris Field.

UPSTREAM OIL AND GAS

Meanwhile, President Director of PT Pertamina EP Nanang Abdul Manaf said that when oil prices fell, the contractor of the cooperation contract suffered losses. However, when oil prices are high, the price of fuel oil will increase. According to him, Indonesia has been a crude oil importer and fuel oil (BBM) since 2004. This has drained the country's foreign exchange.


"Our solution in domestic must increase [oil] production. If we can produce oil the same as consumption needs, the exit of foreign exchange will decrease so that the ability to meet [domestic fuel needs] is no longer an issue [issue]. "

According to him, Pertamina EP has contributed to 10% of the total national oil and gas production. The increase in oil and gas production, he said, could be done if the contractor found new reserves.

"The problem is how we can massive exploration so that there are significant findings that become the backbone of the upstream oil and gas company."

He added that if Pertamina EP only relied on existing oil and gas fields, oil and gas production would decline naturally because the reservoir volume was also limited.

"If production continues, the volume of [oil and gas reserves] will be exhausted."

Manager of Internal Communication PT Pertamina (Persero) Eviyanti Rofraida said that the upstream oil and gas business has high risk characteristics as well as capital and technology. The upstream oil and gas business is also for the long term and the location or source of oil and gas is limited to certain regions.
According to her, Pertamina must be able to maintain a balance between upstream and downstream oil and gas business. Oil prices at around US $ 60 per barrel, he said, are relatively profitable for upstream oil and gas contractors and fuel consumers.

Oil prices that are too high will burden consumers and vice versa when oil prices fall will reduce the performance of upstream oil and gas. Fatar Yani explained that around 79% of upstream oil and gas assets in Indonesia are old. Old field drilling will produce 90% water and only around 10% oil so that production costs become more expensive.

According to him, investors prefer stable crude oil prices so that it is easier to make business plans.

"As long as oil prices are unstable, this will be a challenge."

Oil production is ready to sell in 2008 at 927,000 bpd, but continues to fall until this year in the range of 750,000 bpd to 800,000 bpd. On the other hand, oil fuel consumption continues to grow. Therefore, the fuel supply deficit continues to widen so that the volume of imports of oil and fuel oil continues to increase.

IN INDONESIAN

Cadangan Banyu Urip Meningkat


   PT ExxonMobil Cepu Limited operator Lapangan Banyu Urip, Blok Cepu di Bojonegoro, Jawa Timur, menambah cadangan minyak mentah di wilayah kerja
tersebut sebanyak 92 juta barel.

Dengan penambahan tersebut, total cadangan minyak di Iapangan Banyu Urip meningkat menjadi 821 juta barel dari sebelumnya 729 juta barel. Deputi Operasi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Fatar Yani Abdurrahman mengatakan bahwa penambahan cadangan itu diperoleh melalui kegiatan eksplorasi ExxonMobil di wilayah kerja migas tersebut.

“Cadangan minyak Banyu Urip bertambah 92 juta barel. Ini otomatis menambah total cadangan minyak di Banyu Urip,” katanya dalam acara Media Gathering Pertamina EP 2018.

Berdasarkan data SKK Migas, rerata produksi minyak siap jual (lifting) Banyu Urip hingga September 2018 tercatat 207.936 barel per hari (bph), tertinggi kedua di Tanah Air setelah Blok Rokan.

Produksi minyak siap jual minyak Blok Rokan per September 2018 mencapai 210.582 bph dan menjadikannya sebagai wilayah kerja migas dengan semburan minyak tertinggi di Indonesia. Akan tetapi, berdasarkan proyeksi SKK Migas, rerata produksi minyak siap jual Iapangan Banyu Urip sampai akhir tahun ini sebesar 210.811 bph, sedangkan Rokan 207.802.

Lapangan Banyu Urip berpotensi menggeser dominasi Blok Rokan sebagai wilayah kerja migas legendaris di Tanah Air. Pada saat mulai berproduksi pada 2015, Lapangan Banyu Urip mampu menghasilkan minyak sebanyak 85.000 bph. Produksi minyak dan blok tersebut pun terus meningkat.

Berdasarkan analisis mengenai dampak lingkungan (amdal) yang diajukan perusahaan migas dari Amerika Serikat itu kepada Kementerian Lingkungan Hidup dan Kehutanan pada akhir Juli 2017, ExxonMobil mendapatkan restu untuk mengebor minyak dari Banyu Urip hingga 220.000 bph.

Di Blok Cepu, ExxonMobil Cepu Ltd. memegang saham 20,50%, Ampolex 24,50%, PT Pertamina EP Cepu (PEPC) 45%, dan BUMD 10%. Minyak dari Lapangan Banyu Urip disalurkan melalui pipa sepanjang 95 kilometer menuju penyimpanan minyak terapung (floating storage & offloading/ FSO) Gagak Rimang yang terletak di Laut Jawa.

Minyak bumi Banyu Urip yang bisa diangkat (recoverable reserve) awalnya hanya 450 juta barel, kemudian naik menjadi 725 juta barel, dan saat ini bertambah lagi menjadi 821 juta barel. Lapangan Banyu Urip juga menghasilkan gas bumi, tetapi relatif kecil. Gas tersebut digunakan untuk bahan bakar pembangkit listrik tenaga gas untuk kebutuhan listrik di wilayah kerja migas tersebut.

Biaya operasi dalam memproduksi minyak dan Lapangan Banyu Urip hanya US$ 2,40 per barel, termurah di Indonesia. Berdasarkan data SKK Migas, rerata biaya produksi minyak di Tanah Air sekitar US$ 18 per barel. Sementara itu, ongkos produksi minyak ditambah  dengan biaya depresiasi di Banyu Urip juga masih di bawah US$10 per barel.

Selain Lapangan Banyu Urip, ExxonMobil masih mengembangkan lapangan lain di Blok Cepu, seperti Lapangan Kedung Keris, Alas Tua West, Alas Tua East, dan Giyanti. Lapangan Kedung Keris, Blok Cepu diperkirakan mulai produksi pada awal 2019 sebanyak 10.000 bph. Perusahaan dari Amerika Serikat itu pun telah mengeluarkan US$ 100 juta untuk mengebor satu sumur baru di Lapangan Keris.

HULU MIGAS

Sementara itu, Presiden Direktur PT Pertamina EP Nanang Abdul Manaf mengatakan bahwa saat harga minyak turun, kontraktor kontrak kerja sama menderita kerugian. Namun, pada saat harga minyak tinggi, harga bahan bakar minyak (BBM) akan melonjak. Menurutnya, Indonesia sudah menjadi importir minyak mentah dan Bahan Bakar Minyak (BBM) sejak 2004. Hal itu telah menguras devisa negara.

“Solusinya kita di domestik harus menaikkan produksi [minyak]. Kalau kita dapat memproduksi minyak sama dengan kebutuhan konsumsi, keluarnya devisa negara akan berkurang sehingga kemampuan untuk memenuhi [kebutuhan BBM] di dalam negeri tidak lagi menjadi isu [persoalan].”

Menurutnya, Pertamina EP telah berkontribusi terhadap 10% dari total produksi migas nasional. Kenaikan produksi migas, katanya, dapat dilakukan jika kontraktor menemukan cadangan baru.

“Persoalannya bagaimana kita bisa masif melakukan eksplorasi sehingga ada temuan signifikan yang menjadi tulang punggung perusahaan hulu migas.”

Dia menambahkan bahwa jika Pertamina EP hanya mengandalkan lapangan migas yang suda ada, produksi migas akan turun secara alamiah karena volume reservoir juga terbatas. 

“Kalau produksi terus, volume [cadangan migas] itu akan habis.”

Manager Komunikasi Internal PT Pertamina (Persero) Eviyanti Rofraida mengatakan bahwa bisnis hulu migas memiliki ciri berisiko tinggi serta pada modal dan teknologi. Bisnis hulu migas juga untuk jangka panjang dan lokasi atau sumber migas terbatas hanya pada wilayah tertentu.

Menurutnya, Pertamina harus mampu menjaga keseimbangan antara bisnis hulu dan hilir migas. Harga minyak pada kisaran US$ 60 per barel, katanya, relatif menguntungan kontraktor hulu migas dan konsumen BBM.

Harga minyak yang terlalu tinggi akan membebani konsumen dan sebaliknya ketika harga minyak turun akan menekan kinerja hulu migas. Fatar Yani menjelaskan bahwa sekitar 79% aset hulu migas di Indonesia sudah berusia tua. Pengeboran lapangan tua akan menghasilkan 90% air dan hanya
sekitar 10% minyak sehingga biaya produksi menjadi lebih mahal.

Menurutnya, investor lebih memilih harga minyak mentah stabil sehingga lebih mudah untuk membuat perencanaan bisnis. 

“Selama harga minyak tidak stabil, ini akan menjadi tantangan.”

Produksi minyak siap jual pada 2008 sebesar 927.000 bph, tetapi terus turun hingga pada tahun ini di kisaran 750.000 bph-800.000 bph. Di sisi lain, konsumsi bahan bakar minyak terus bertumbuh. Oleh karena itu, defisit suplai BBM terus melebar sehingga volume impor minyak dan bahan bakar minyak terus meningkat. 

Bisnis Indonesia, Page-24, Friday, Nov 30, 2018

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