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Thursday, January 17, 2019

Upstream Oil and Gas Investment is Targeted at US $ 14.79 M



The government targets national upstream oil and gas investment of US $ 14.79 billion this year, up 24.28 percent from last year's realization of US $ 11.9 billion. Increased investment is driven by the presence of several large oil and gas projects that are now under construction.

Dwi Soetjipto

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto said, this year, the national oil and gas lifting target is set at 2.25 million barrels of oil equivalent per day. In particular, oil production is targeted at 775 thousand barrels per day (bpd) and gas 1.25 million barrels of oil equivalent per day. To realize this target, the company set a target for oil and gas investment this year of US $ 14.79 billion.

"The investment plan for 2019 is US $ 14.79 billion, from the 2018 realization of US $ 11.9 billion," he said.

Dwi added, one of the strategies was carried out so that oil and gas lifting was in accordance with the target by ensuring that the investment went according to plan. Primarily, it will encourage investment in oil and gas projects that are still under development.

"So the steps are how to increase monitoring and control of these projects," he said.

The same thing was also expressed by the Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto. It is also optimistic that this year's oil and gas investment will improve, considering there are several large oil and gas projects that are still under construction.

Eni Indonesia

"Optimistic because this year Eni Indonesia has set Merakes (investment) of US $ 1.3 billion, Train-3 Tangguh is still on the road, and JTB (Jambaran Tiung Biru) is US $ 1.6 billion. Of those three, it has been large (investment), "he explained.

This year, Eni Indonesia began working on the development of the Merakes Field, Sepinggan East Block. The project with a total investment of US $ 1.3 billion is targeted to be completed by 2021. 

PT Pertamina EP Cepu

    Furthermore, since the end of last year, PT Pertamina EP Cepu began working on the JTB Project worth US $ 1.55 billion with a target of completion in 2021. 

BP Indonesia

    Then, BP Indonesia is now is working on Train-3 of Tangguh's US $ 8 billion liquefied natural gas (LNG) refinery. The project, which was carried out by a company from England since 2016, is targeted to be completed by 2020

Not only from the new project, Dwi said, efforts to achieve the lifting target will also be sought from enhanced oil recovery / EOR.

"We will ensure the preparation of EOR projects. Then it can work better with KKKS (cooperation contract contractors / KKKS) to help them increase their lifting, "he said.

Referring to data from the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), by 2030, oil production is projected to only amount to 281 thousand bpd. However, if EOR is successfully implemented, oil production can be increased to 520 thousand bpd by 2030. In SKK Migas data, additional production from activities, EOR is projected to enter in 2025.

Not Reaching Target

In 2018, the realization of national oil and gas lifting is still below the target of 2 million barrels of oil equivalent per day, which is 1.91 million barrels of oil equivalent per day. In detail. the realization of oil lifting is 778 thousand bpd from the target of 800 thousand bpd. While the realization of gas lifting is 1.13 million barrels of oil equivalent per day from the target of 1.2 million barrels of oil equivalent per day.

Compared to 2017 realization, last year's oil and gas lifting was lower. In 2017, the realization of oil and gas lifting reached 1.94 million barrels of oil equivalent per day. However, last year's realization of upstream oil and gas investment was US $ 11.9 billion, higher and 2017 which was US $ 9.33 billion.

According to Djoko, the increase in investment does not mean an increase in oil and gas lifting because the oil and gas project is long-term.

"Even though lifting is down, a big investment is due to issuing costs now," he said.

In addition, investment is needed to keep national oil and gas production from being cut significantly. Because, without investment and activities, the rate of decline in oil and gas production can reach more than 11%.

"In order not to become a decline, development is used. The existing [oil and gas block] also develops so that it does not go down [production] by 11%, "he explained.

Exxon Mobil Cepu Limited for the Cepu

Dwi explained, the three biggest oil producers in 2018 were PT Chevron Pacific Indonesia for the Rokan Block 213 thousand bpd, Exxon Mobil Cepu Limited for the Cepu Block 209,314 bpd, and Pertamina EP 79,910 bpd.

PT Chevron Pacific Indonesia

IN INDONESIAN

Investasi Hulu Migas Ditargetkan US$ 14,79 M


Pemerintah menargetkan investasi hulu migas nasional sebesar US$ 14,79 miliar pada tahun ini, naik 24,28% dari realisasi tahun lalu sebesar US$ 11,9 miliar. Peningkatan investasi didorong adanya beberapa proyek migas besar yang kini dalam pengerjaan.

Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Dwi Soetjipto menuturkan, pada tahun ini, target lifting migas nasional ditetapkan sebesar 2,25 juta barel setara minyak per hari. Rincinya, produksi minyak ditargetkan sebesar 775 ribu barel per hari (bph) dan gas 1,25 juta barel setara minyak per hari. Untuk merealisasikan target tersebut, pihaknya menetapkan target investasi migas tahun ini US$ 14,79 miliar. 

“Rencana investasi tahun 2019 adalah US$ 14,79 miliar, dari realisasi 2018 sebesar US$ 11,9 miliar,” katanya.

Dwi menambahkan, salah satu strategi yang dilakukan agar lifting migas sesuai target yakni dengan memastikan investasi berjalan sesuai rencana. Utamanya, pihaknya akan mendorong investasi pada proyek-proyek migas yang masih dalam tahap pengembangan. 

“Jadi langkahnya bagaimana tingkatkan monitoring dan control proyek-proyek ini,” ujarnya.

Hal senada juga diungkapkan oleh Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto. Pihaknya pihaknya juga optimistis investasi migas tahun ini akan membaik, mengingat ada beberapa proyek migas besar yang masih dalam pengerjaan.

“Optimis karena tahun ini Eni Indonesia sudah tetapkan Merakes (investasi) US$ 1,3 miliar, Train-3 Tangguh masih jalan, dan JTB (Jambaran Tiung Biru) US$ 1,6 miliar. Dari tiga itu saja, sudah besar (investasi),”jelas dia. 

Pada tahun ini, Eni Indonesia mulai mengerjakan pengembangan Lapangan Merakes, Blok East Sepinggan. Proyek dengan nilai investasi total US$ 1,3 miliar ini ditargetkan rampung pada 2021. Selanjutnya, sejak akhir tahun lalu, PT Pertamina EP Cepu mulai menggarap Proyek JTB senilai US$ 1,55 miliar dengan target penyelesaian pada 2021. 

    Kemudian, BP Indonesia kini sedang mengerjakan Train-3 kilang gas alam cair (liquefied natural gas/LNG) Tangguh senilai US$ 8 miliar. Proyek yang dikerjakan perusahaan dari Inggris sejak 2016 lalu itu ditargetkan rampung pada 2020

Tidak hanya dari proyek baru, Dwi menuturkan, upaya pencapaian target lifting juga akan diupayakan dari kegiatan pengurasan minyak tahap lanjut (enhanced oil recovery/EOR). 

“Kami akan memastikan persiapan proyek-proyek EOR. Kemudian bisa kerja sama lebih bagus dengan KKKS (kontraktor kontrak kerja sama/KKKS) untuk membantu mereka tingkatkan lifting,” kata dia.

Mengacu data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), pada 2030, produksi minyak diproyeksikan hanya akan sebesar 281 ribu bph. Namun, jika EOR berhasil dilaksanakan, produksi minyak dapat ditingkatkan menjadi 520 ribu bph pada 2030. Dalam data SKK Migas, tambahan produksi dari kegiatan, EOR diproyeksikan akan masuk pada 2025.

Tidak Mencapai Target

Pada 2018, realisasi lifting migas nasional tercatat masih di bawah target 2 juta barel setara minyak per hari, yakni sebesar 1,91 juta barel setara minyak per hari. Rincinya. realisasi lifting minyak sebesar 778 ribu bph dari target 800 ribu bph. Sementara realisasi lifting gas sebesar 1,13 juta barel setara minyak per hari dari target 1,2 juta barel setara minyak per hari.

Jika dibandingkan realisasi 2017, lifting migas tahun lalu tercatat lebih rendah. Pada 2017, realisasi lifting migas mencapai 1,94 juta barel setara minyak per hari. Meski demikian, realisasi investasi hulu migas tahun lalu sebesar US$ 11,9 miliar, justru lebih tinggi dan 2017 yang sebesar US$ 9,33 miliar.

Menurut Djoko, kenaikan investasi bukan berarti peningkatan lifting migas karena proyek migas bersifat jangka panjang.

“Meskipun lifting turun, investasi besar karena mengeluarkan biayanya sekarang,” ujarnya.

Selain itu, investasi diperlukan untuk menjaga produksi migas nasional tidak terpotong secara signifikan. Pasalnya, tanpa ada investasi dan kegiatan, maka laju penurunan produksi migas bisa mencapai lebih dari 11%. 

“Supaya tidak jadi penurunan inilah yang dipakai development. [Blok migas] eksisting itu juga melakukan development agar tidak turun [produksinya] 11%,” jelas dia.

Dwi memaparkan, tiga produsen minyak terbesar di 2018 yakni PT Chevron Pacific Indonesia untuk Blok Rokan 213 ribu bph, Exxon Mobil Cepu Limited untuk Blok Cepu 209.314 bph, dan Pertamina EP 79.910 bph.

Investor Daily, Page-9, Saturday, Jan 5, 2019

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