Pertamina and Saudi Aramco are still negotiating related to the development of the Cilacap Refinery
Saudi Aramco
Until now, Indonesia's current account deficit (CAD) has not been resolved. One of the causes is the ever-increasing import of fuel oil (BBM), while the domestic oil and gas production (liffting oil and gas) is decreasing. Regarding this issue, the Coordinating Minister (Menko) Maritime and Investment, Luhut Binsar Panjaitan spoke up. Luhut said that his party conducted an evaluation of all Pertamina refinery projects, in an effort to meet fuel needs and suppress CAD.
Luhut Binsar Panjaitan
At present, there are six refinery projects that are being worked on by Pertamina, consisting of four projects / development or Refinery Development Master Plan (RDMP) and two new projects or PT Pertamina's Grass Root Refinery (GRR) VP Corporate Communication, Fajriyah Usman, said it will undertake various efforts to accelerate the construction of refineries.
Fajriyah Usman
"With acceleration there will also be efficiency in terms of costs that can be reduced," said Fajriyah in Jakarta.
Fajriyah explained, so far the construction of the refinery has been carried out in parallel. Well, one of the acceleration efforts through dual feed competition is claimed to cut the project time to one year.
"Licensing is also being managed," said Fajriyah.
Regarding the continuation of the joint venture plan with Saudi Aramco at the Cilacap Refinery, Fajriyah stressed, the discussion process was still ongoing so far. Previously, Luhut highlighted the Cilacap RDMP which is still hanging due to the very difficult partnership negotiations with Saudi Aramco. Luhut said there was no agreed final value related to the asset valuation of the Cilacap refinery.
"We evaluate the difference between Aramco and US $ 1.5 billion. If it is correct, we will certainly see other options," said Fajriyah.
According to Fajriyah, if the acquisition mechanism was not successful, Pertamina considered other mechanisms. As for the other schemes such as the provision of process fees aka toll fees. But Fajriyah did not elaborate on the mechanism. What is clear, the new mechanism is one of the topics of discussion,
"The mechanism will be discussed later, until now it is still with Aramco. We will see what December looks like," said Fajriyah.
Some time ago, Pertamina offered a scheme that Pertamina would have its own portion in the development of the Cilacap Refinery, at its own expense. PT Pertamina's Director of Processing and Petrochemical Megaprojects, Ignatius Tallulembang, said 65% -70% of the development funds came from loans, while the rest was from equity. If the development work carried out by Pertamina is completed, Saudi Aramco will be involved in the next stage of refinery development.
"So it's not a spin off anymore, it's not an asset valuation, but maybe it's like an asset we just co-created, a new one," he said.
Ignatius also ensured Pertamina continued to strive to accelerate the refinery project, as an effort to meet the needs of fuel.
"RDMP Balikpapan has entered the construction stage and is currently in the process of procuring all the main equipment," he said.
IN INDONESIA
Pertamina Janji Percepat Proyek Kilang Minyak
Pertamina dan Saudi Aramco masih bernegosiasi terkait pengembangan Kilang Cilacap
Hingga saat ini, defisit transaksi berjalan atau Current Account Deficit (CAD) Indonesia belum juga teratasi. Salah satu penyebabnya adalah impor bahan bakar minyak (BBM) yang terus membesar, sedangkan produsi minyak dan gas ( liffting migas) dalam negeri justru menurun. Mengenai persoalan tersebut, Menteri Koordinator (Menko) Maritim dan Investasi, Luhut Binsar Panjaitan angkat bicara. Luhut mengatakan pihaknya melakukan evaluasi pada semua proyek kilang Pertamina, sebagai upaya memenuhi kebutuhan BBM dan menekan CAD.
Saat ini, ada enam proyek kilang yang sedang digarap Pertamina, terdiri dari empat proyek /pengembangan atau Refinery Development Master Plan (RDMP) dan dua proyek baru atau Grass Root Refinery (GRR) VP Covporate Communication PT Pertamina, Fajriyah Usman, menyatakan pihaknya akan melakukan berbagai upaya demi mempercepat pembangunan kilang.
"Dengan percepatan juga akan ada efisiensi dari sisi biaya yang bisa ditekan," ujar Fajriyah di Jakarta.
Fajriyah menjelaskan, selama ini pembangunan kilang telah dilakukan secara paralel. Nah, salah satu upaya percepatan melalui dual feed competition yang diklaim memangkas waktu proyek menjadi satu tahun.
"Perizinan juga terus diurus," kata Fajriyah.
Tentang kelanjutan rencana kongsi dengan Saudi Aramco di Kilang Cilacap, Fajriyah menegaskan, proses diskusi masih berlangsung sejauh ini. Sebelumnya, Luhut menyoroti RDMP Cilacap yang masih menggantung akibat sangat sulit negosiasi kemitraan dengan Saudi Aramco. Luhut menyebutkan belum ada nilai akhir yang disepakati terkait valuasi aset kilang Cilacap.
"Aramco kami evaluasi selisihnya masih ada US$ 1,5 miliar. Kalau betul tetap seperti itu, tentu kami lihat pilihan lain," kata Fajriyah.
Menurut Fajriyah, jika mekanisme akuisisi tidak berhasil, maka Pertamina mempertimbangkan mekanisme lain. Adapun skema lain tersebut seperti pemberian biaya proses alias toll fee. Namun Fajriyah tidak memerinci seputar mekanisme tersebut. Yang jelas, mekanisme baru merupakan salah satu yang menjadi topik diskusi,
"Nanti mau dibicarakan mekanismenya, sampai saat ini masih dengan Aramco. Kita lihat Desember seperti apa," kata Fajriyah.
Beberapa Waktu lalu, Pertamina menawarkan skema yakni Pertamina akan memiliki porsi sendiri dalam pengembangan Kilang Cilacap, dengan tanggungan biaya sendiri. Direktur Megaproyek Pengolahan dan Petrokimia PT Pertamina, Ignatius Tallulembang, menyebutkan 65%-70% dana pengembangan itu berasal dari pinjaman, sementara sisanya dari ekuitas. Jika bagian pengerjaan pengembangan yang dilakukan Pertamina selesai, Saudi Aramco ikut terlibat dalam pengembangan kilang tahap selanjutnya.
"Jadi bukan spin off lagi, bukan valuasi aset, tapi mungkin seperti aset baru saja kita kerjasama bikin yang baru," ungkap dia.
Ignatius juga memastikan Pertamina terus mengupayakan percepatan proyek kilang, sebagai upaya pemenuhan kebutuhan BBM.
"RDMP Balikpapan sudah masuk tahap konstruksi dan saat ini proses pengadaan seluruh peralatan utama," ungkap dia.
Kontan, Page-14, Thursday, Nov 14, 2019
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