PT Pertamina (Persero) and Saudi Aramco have not yet completed the establishment of a joint venture that will be tasked with working on upgrading and upgrading capacity of Cilacap Refinery. Because the two state-owned oil and gas companies have not yet agreed on the valuation of the existing assets of the Cilacap refinery.
the Cilacap refinery
The Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, the Cilacap Refinery Project is still under evaluation in relation to how the partnership with Saudi Aramco so that Pertamina can benefit in accordance with the business framework that is cooperated. One of them is related to asset valuation agreements that will be included in the JV.
Saudi Aramco
"The valuation of these assets has not been agreed. It must be calculated in detail, "he said in Jakarta.
He explained, Pertamina and partners must first agree on the value of these assets before the project starts, because the results of the asset valuation agreement will determine how much money is included. At present, Pertamina has finalized the asset valuation and is still awaiting an agreement from Saudi Aramco. Arcandra added, even though there was no agreement, cooperation with Saudi Aramco would continue.
"As far as I know (not looking for another partner), it's still the same as Saudi Aramco in Cilacap," he said.
Nicke Widyawati
Previously, Pertamina's Managing Director Nicke Widyawati revealed that for the Cilacap Refinery Project, the company was still finalizing the establishment of a joint venture company. However, continued Nicke, his side continued to work on this project.
"We are doing land clearing in Cilacap," Nicke said.
Saudi Aramco Refinery
Pertamina and Saudi Aramco have signed an agreement to establish a joint venture agreement (JVA) since the end of 2016. In the joint venture, Pertamina plans to hold 55% ownership and 45% of Saudi Aramco. Two years after the signing of the JVA, the two oil and gas companies have not yet realized the establishment of a joint venture company.
Some time ago, Pertamina revealed its plan to spin off the new Cilacap Refinery unit that will be carried out to be transferred to a joint venture formed to work on this project. If Saudi Aramco intends to continue working together, and other companies want to join, they can enter the company.
The spin off plan has received a green light from the Ministry of BUMN. The Cilacap refinery is targeted to start operating in 2024 backing from the initial plan in 2022. After upgrading, the crude oil processing capacity of the Cilacap Refinery will increase from 348 thousand barrels per day (bpd) to 400 thousand bpd.
Furthermore, there will be additional production of gasoline (gasoline) 80 thousand bpd, diesel fuel 60 thousand bpd, and avtur of 40 thousand bpd. Increased fuel production Significant because the refinery's ability to process crude oil into finished products (NCI) rose from 74% to 92-98%.
Tuban Refinery
Regarding the Tuban Refinery Project of 300 thousand bpd, Arcandra stressed that the refinery project location was canceled.
"The Tuban refinery is not moved, still (in Tuban)," her said. However, he admitted that land acquisition for this project had not yet been completed. "It's being released (land), it's being worked on," Nicke said.
Previously, Nicke admitted that land acquisition needed for the construction of an 800-hectare refinery was still an obstacle. At the location of the plan to be built by the refinery, there is 350 hectares of land owned by the Ministry of Environment, while the rest belongs to the community. Nicke said, in the last three years, his party had made various efforts to complete the land acquisition.
"To follow up on the request of the Minister of Energy and Mineral Resources, Pertamina will send a team to complete the land acquisition, so in this month we will send another team to solve this land problem," Nicke explained.
In fact, previously Pertamina and the East Java Provincial Government had previously signed a memorandum of understanding on the use of land assets of the Ministry of Environment and Forestry in Tanjung Awar-Awar, Tuban. In the memorandum of understanding, the East Java Provincial Government supports the Ministry of Environment and Forestry's land use for the construction of the Tuban Refinery.
Rosneft Refinery
Pertamina cooperates with the Russian oil and gas company, Rosneft Oil Company in working on the Tuban Refinery. The two companies have formed a joint venture, namely PT Pertamina Rosneft Pengolahan and Petrokirnia (PRPP), which will work on the Tuban Refinery Project worth US $ 15 billion. Pertamina holds a 55% shareholding and Rosneft 45%.
The plan, Tuban Refinery will produce gasoline (gasoline) products of 80 thousand bpd, solar 90 thousand bpd, and 26 thousand bp avtur. Not only that, Tuban Refinery will also produce new petrochemical products. The details of this product are polypropylene 1.3 million tons per year, polyethylene 0.65 million tons per year, styrene 0.5 million tons per year and paraxylene 1.3 million tons per year.
As is known, Pertamina is working on six refinery projects at once, both new units and increasing capacity and quality of existing refineries. Construction of two new units in Tuban, East Java and Bontang, East Kalimantan, as well as repairs to four existing refineries spread in Balongan, West Java; Balikpapan, East Kalimantan; Durnai, Riau; and Cilacap, Central Java.
The funds needed to complete this project are very large, namely around US $ 30 billion. All projects are targeted to be completed by 2026.
IN INDONESIAN
Proyek Kilang Cilacap Tunggu Kesepakatan Valuasi Aset
PT Pertamina (Persero) dan Saudi Aramco belum juga merampungkan pembentukan perusahaan patungan (joint venture) yang akan bertugas mengerjakan peningkatan dan perbaikan kapasitas (upgrading) Kilang Cilacap. Pasalnya, kedua perusahaan migas milik pemerintah ini belum juga menyepakati valuasi aset eksisting kilang Cilacap.
Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, Proyek Kilang Cilacap masih dalam evaluasi terkait bagaimana kemitraan dengan Saudi Aramco agar Pertamina mendapat manfaat sesuai dengan kerangka bisnis yang dikerjasamakan. Salah satunya terkait kesepakatan valuasi aset yang akan disertakan dalam JV.
“Perhitungan valuasi asetnya ini yang belum sepakat. Kan harus dihitung secara detailnya,” kata dia di Jakarta.
Dia menjelaskan, Pertamina dan mitra harus sepakat dulu untuk nilai aset ini sebelum proyek dimulai, Pasalnya, hasil kesepakatan valuasi aset akan menentukan berapa uang yang disertakan. Saat ini, Pertamina telah merampungkan valuasi aset tersebut dan masih menunggu kesepakatan dari Saudi Aramco. Arcandra menambahkan, meski belum ada kesepakatan, kerja Sama dengan Saudi Aramco tetap akan dilanjutkan.
“Setahu saya tidak (mencari partner lain), tetap sama Saudi Aramco di Cilacap,” ujarnya.
Sebelumnya, Direktur Utama Pertamina Nicke Widyawati mengungkapkan, untuk Proyek Kilang Cilacap, perseroan masih melakukan finalisasi pembentukan perusahaan patungan. Namun, lanjut Nicke, pihaknya terus mengerjakan proyek ini.
“Kami lakukan land clearing di Cilacap,” kata Nicke.
Pertamina dan Saudi Aramco telah menandatangani perjanjian pembentukan perusahaan patungan (joint venture agreement/JVA) sejak akhir 2016. Dalam perusahaan patungan itu, Pertamina rencananya memegang kepemilikan 55% dan Saudi Aramco 45%. Dua tahun berselang sejak ditekennya JVA, kedua perusahaan migas ini belum juga merealisasikan pembentukan perusahaan patungan.
Beberapa waktu lalu, Pertamina mengungkapkan rencananya untuk melakukan spin off unit baru Kilang Cilacap yang akan dikerjakan untuk dialihkan ke perusahaan patungan yang dibentuk untuk menggarap proyek ini. Jika Saudi Aramco berniat tetap melanjutkan kerja sama, maupun perusahaan lain ingin bergabung, mereka bisa masuk ke perusahaan tersebut.
Rencana spin off tersebut telah mendapat lampu hijau dari Kementerian BUMN. Kilang Cilacap ditargetkan mulai beroperasi pada 2024 mundur dari rencana awal pada 2022. Pasca upgrading, kapasitas pengolahan minyak mentah Kilang Cilacap akan naik dari 348 ribu barel per hari (bph) menjadi 400 ribu bph.
Selanjutnya, akan ada tambahan produksi bensin (gasoline) 80 ribu bph, solar 60 ribu bph, dan avtur 40 ribu bph. Prorfuksi bahan bakar naik signitikan lantaran kemampuan kilang mengolah minyak mentah menjadi produk jadi (NCI) naik dari 74% menjadi 92-98%.
Kilang Tuban
Terkait Proyek Kilang Tuban 300 ribu bph, Arcandra menegaskan bahwa lokasi proyek kilang ini batal dipindah.
“Kilang Tuban tidak dipindah, tetap (di Tuban),” kata dia. Namun, diakuinya memang pembebasan lahan untuk proyek ini belum rampung. “Sedang dibebaskan (lahannya) , sedang diusahakan,” kata Nicke.
Sebelumnya, Nicke mengakui, pembebasan lahan yang dibutuhkan untuk pembangunan kilang seluas 800 hektar masih menjadi kendala. Di lokasi rencana yang akan dibangun kilang, ada lahan milik Kementerian Lingkungan Hidup seluas 350 hektar, sementara sisanya milik masyarakat. Dikatakan Nicke, dalam tiga tahun terakhir, pihaknya sudah melakukan berbagai upaya untuk merampungkan pembebasan lahan ini.
“Untuk menindaklanjuti permintaan Menteri ESDM agar Pertamina kembali mengirimkan tim untuk menyelesaikan pembebasan lahan, maka dalam bulan ini segera kami akan kirim tim lagi untuk menyelesaikan masalah lahan ini,” jelas Nicke.
Padahal, sebelumnya Pertamina dan Pemerintah Provinsi Jawa Timur sebelumnya telah menandatangani nota kesepahaman pemanfaatan lahan aset Kementerian Lingkungan Hidup dan Kehutanan di Tanjung Awar-Awar, Tuban. Dalam nota kesepahaman itu, Pemprov Jawa Timur mendukung pemanfaatan lahan Kementerian Lingkungan Hidup dan Kehutanan untuk pembangunan Kilang Tuban.
Pertamina menggandeng perusahaan migas Rusia, Rosneft Oil Company dalam mengerjakan Kilang Tuban. Kedua perusahaan itu telah membentuk perusahaan patungan, yakni PT Pertamina Rosneft Pengolahan dan Petrokirnia (PRPP), yang akan menggarap Proyek Kilang Tuban senilai US$ 15 miliar. Pertamina memegang kepemilikan saham 55% dan Rosneft 45%.
Rencananya, Kilang Tuban akan menghasilkan produk bensin (gasoline) sebesar 80 ribu bph, solar 90 ribu bph, dan avtur 26 ribu bph. Tidak hanya itu, Kilang Tuban juga akan memproduksi produk-produk baru petrokimia. Rincian produk ini adalah polipropilen 1,3 juta ton per tahun, polietilen 0,65 juta ton per tahun, stirena 0,5 juta ton per tahun dan paraksilen 1,3 juta ton per tahun.
Seperti diketahui, Pertamina mengerjakan enam proyek kilang sekaligus, baik unit baru maupun peningkatan kapasitas dan kualitas dari kilang yang ada. Pembangunan dua unit baru di Tuban, Jawa Timur dan Bontang, Kalimantan Timur, serta perbaikan empat kilang eksisting yang tersebar di Balongan, Jawa Barat; Balikpapan, Kalimantan Timur; Durnai, Riau; serta Cilacap, Jawa Tengah.
Dana yang dibutuhkan untuk merampungkan proyek ini sangat besar, yakni Sekitar US$ 30 miliar. Seluruh proyek ditargetkan rampung pada 2026.
Investor Daily, Page-9, Saturday, Dec 15, 2018
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