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Wednesday, January 15, 2020

Pertamina and Aramco Discuss Refinery Schemes



Forward-backward, until now the Cilacap Refinery development project has not been clear either. Even so, Pertamina is still optimistic that Saudi Aramco will invest in the refinery development project. Pertamina has offered two investment options to Aramco. Both also are still discussing the investment agenda in the joint project.



"Valuations are being discussed. If they don't agree, they will use (like) the Balikpapan Refinery scheme," said Nicke Widyawati, Director of Pertamina, Tuesday (11/26).

Nicke Widyawati

The Balikpapan Refinery Scheme referred to is that spinoffs are not carried out at existing refineries. This means that Pertamina and Aramco's joint venture will build a new refinery. If using this new scheme, the two parties will form a joint venture to build a new refinery facility in Cilacap. 

    This scheme also does not include the calculation of existing assets owned by Pertamina. Nicke hopes that Pertamina Aramco's investment partnership discussion can be completed by the end of this year.

Nicke hopes that Pertamina will remain the majority owner of the Cilacap RDMP project. In the Cilacap Refinery project, Pertamina has a 55% majority stake and Saudi Aramco controls 45%. 

     Acting Director-General of Oil and Gas at the ESDM Ministry, Djoko Siswanto, revealed that the government is preparing an alternative offer to Aramco to build a new refinery facility. Djoko said the government also invited Aramco to choose a new location for the project, as well as find partners or build refineries independently.

"The point is there are alternative offerings to Aramco. See the results of asset valuation first. If it's a deal, it can operate. If not, there are offers in other regions. Aramco can be alone, can be together," said Djoko.

Even so, the Ministry of Energy and Mineral Resources emphasized that the option would only apply if Pertamina and Aramco did not reach an agreement on the Cilacap Refinery project. The investment valuation of the Cilacap Refinery is still calculated by the audit agency. 

     There is an estimated value of the valuation between Pertamina and Aramco. The initial investment value is estimated at the US $ 5.6 billion or equivalent to Rp. 78.4 trillion, assuming an exchange rate of Rp. 14,000 per US dollar. While Aramco submitted a bid worth US $ 2.8 billion.

IN INDONESIA

Pertamina dan Aramco Bahas Skema Kilang


Maju mundur, hingga kini proyek pengembangan Kilang Cilacap belum ada kejelasan juga. Meski begitu, Pertamina masih optimistis Saudi Aramco berinvestasi di proyek pengembangan kilang itu. Pertamina sudah menawarkan dua opsi investasi kepada Aramco. Keduanya juga masih masih membahas agenda investasi di proyek bersama itu.

"Valuasi sedang dibahas. Jika tidak sepakat, maka akan pakai (seperti) skema Kilang Balikpapan" kata Nicke Widyawati, Direktur Utama Pertamina, Selasa (26/11).

Skema Kilang Balikpapan yang dimaksud adalah tidak dilakukan spin-off pada kilang eksisting. Artinya, kongsi Pertamina dan Aramco akan membangun kilang baru. Jika menggunakan skema baru ini, kedua belah pihak akan membentuk perusahaan patungan untuk membangun fasilitas kilang baru di Cilacap. Skema ini juga tidak memasukkan perhitungan aset eksisting yang dimiliki Pertamina. Nicke berharap, pembahasan kongsi investasi Pertamina Aramco bisa rampung pada akhir tahun ini.

Nicke berharap, Pertamina tetap menjadi pemilik mayoritas proyek RDMP Cilacap. Pada proyek Kilang Cilacap, Pertamina memiliki saham mayoritas 55% dan Saudi Aramco menguasai 45%. 

     Pelaksana tugas (plt) Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Djoko Siswanto mengungkapkan, pemerintah menyiapkan penawaran alternatif kepada Aramco untuk membangun fasilitas kilang baru. 

     Djoko menyatakan, pemerintah juga mempersilahkan Aramco memilih lokasi baru untuk proyek tersebut, serta mencari mitra atau membangun kilang secara mandiri.

"Intinya ada beberapa alternatif penawaran kepada Aramco. Melihat hasil valuasi aset dulu. Kalau itu deal, bisa beroperasi. Kalau tidak, ada penawaran di wilayah lain. Aramco bisa sendiri, bisa bersama-sama," tukas Djoko.

Meski begitu Kementerain ESDM menegaskan, opsi tersebut baru berlaku apabila Pertamina dan Aramco tidak mencapai kesepakatan di proyek Kilang Cilacap. Valuasi investasi Kilang Cilacap masih dihitung oleh lembaga audit. 

     Ada perkiraan nilai Valuasi antara Pertamina dan Aramco. Nilai awal investasi diperkirakan US$ 5,6 miliar atau setara Rp 78,4 triliun dengan asumsi kurs Rp 14.000 per dollar AS. Sedangkan Aramco mengajukan penawaran senilai US$ 2,8 miliar.

Kontan, Page-14, Thursday, Nov 28,  2019

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