The Special Task Force for Implementing Oil and Gas Business Activities finally
provided the stimulus to the Cooperation Contract Contractors (KKKS) to increase
investment in the upstream oil and gas sector.
With the stimulus in the form of a delay in depositing the Abandon and Site Restoration Fund (ASR) 2020, it is hoped that KKKS production activities will remain optimal amidst the pressure of world oil prices and the influence of the Covid-19 pandemic.
The Head of SKK Migas, Dwi Soetjipto said that the provision of incentives was a policy that was pursued to overcome the financial and operational problems of KKKS.
"I hope that KKKS can take advantage of this policy, then immediately carry out activities to increase production. "This is our joint effort to oversee the target for this year and the years to come," he said.
For contractors who need relaxation, a special ASR deposit fund for 2020 can be given to SKK Migas no later than July 31, 2020. Furthermore, the value of the ASR request that has been postponed will be billed immediately in the semester I / 2021, added with time.
ASR funds are funds prepared by KKKS at the time of post-operation, for permanent Well closure, temporary stopping, and production facility assistance, to be able to restore or demolish permanently and restore the environment in the Work Area (WK).
Director of Engineering and Environment of the Directorate General of Oil and Gas at the Ministry of Energy and Mineral Resources Adhi Wibowo said the stimulus provided was valid for all WK oil and gas, not just the Rokan Block.
"It was taken from a scenario determined by the government, what about providing stimulus, it is hoped that the business/oil and gas sector in the Covid-19 period will continue," he said.
Meanwhile, the target of lifting oil this year is cut to 705,000 barrels per day (BPD), from the previous target of 725,000 BPD, and which was originally in the state budget is 755,000 BPD. Oil and gas companies appreciate the government support for KKKS by providing flexibility in relation to the preparation of ASR funds because it will have a good impact on the company's cash flow.
"The impact on development and operations is being studied in more detail," said Pertamina Hulu Energi President Director Budiman Pahursip.
The Executive Director of the Indonesian Petroleum Association (IPA) Marjolijn Wajong assesses that the ASR funds can ease the burden on upstream oil and gas industry businesses.
"This policy can help the oil and gas industry to maintain the current condition of the world oil price is low and prevent the economic crisis after the Covid-19 crisis," She said.
This was justified by the Teaching Stal of Trisakti University Pri Agung Rakhmanto.
"Some significant and effective are certainly not the same for each KKKS. However, when oil prices are indeed still low like this, improving cash flow will be very helpful for KKKS to be able to maintain normal management of increasing production reserves or lifting, "he said.
Observers in the upstream oil and gas sector, Tumbur Parlindungan assessed that with the stimulus, KKKS can divert their budgets for operational production activities.
"Activities such as good service or maintenance or well development drilling."
Rokan Block
Meanwhile, PT Pertamina Hulu Energi as the upstream sub-holding of Pertamina will immediately drill a well in the Rokan Block when the transition period is complete, in accordance with the decline in value and increase production and the oil block. Director of Pertamina Hulu Energi Budiman Pahursip is optimistic that his party can increase production above 170,000 barrels of oil per day (bopd).
"We can succeed by drilling many wells so that we can reach 190,000 bopd-200,000 bopd in the latter days. We need to use technology applications such as 3D seismic, steam, steam, and look to ask for EOR [Enhanced Oil Recovery], and with other technologies that we can apply, "he said.
On the other hand, Supporting SKK Migas Expert Satya Widya Yudha believes PT Chevron Pacific Indonesia is able to increase the production of the Rokan Block WK to 5,000 barrels per day in July 2020 production to 170,000 bopd.
"Even though it is still over in 2021, we are still asking for drilling," he said.
CPI will continue until the transition process in August 2021. Furthermore, in January 2021-July 2021, CPI will drill 96 wells and 11 conversion wells. Meanwhile, CPI will spend an investment of US $ 11 million this year and the US $ 143 million for drilling in 2021. Meanwhile, Pertamina will also open up opportunities for local partners in the Rokan Block after the transition process is completed, as an effort to increase the level of the domestic component (TKDN) in the Rokan Block working area.
"TKDN must be increased, it must be Pertamina's commitment which will be continued by Hulu Rokan that the increase in TKDN must be truly improvedthe participation of local companies must be optimized, "said Budiman.
Deputy Governor of Riau, Edy Natar Nasution said that his party would optimize Riau's Regional Business Entity (BUMD) which would get a 10% participation right in the Rokan Block. He hopes that the people in the Rokan Block will provide equal opportunities both to carry out the project and workforce with the KKKS. In addition, the Rokan Block contributes around 65% -80% to Riau's APBD because it still relies on funds for oil and gas proceeds.
"Our hope is that in 2022 the Riau Provincial Government and the City Government can receive BUMD dividends from the PI 10%," he said.
Meanwhile, the Riau Community Leaders Communication Forum asked for a return from President Joko Widodo's campaign pledge to give priority and special rights to Riau Residents in the Rokan Block.
Bisnis Indonesia, Page-4, Friday, July 17, 2020
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