PT PLN (Persero) is optimistic that it will win the auction of PT Mandau Cipta Tenaga Nusantara (MCTN) shares which are offered at a price of US$ 300 million. MCTN is the operator of the North Duri Cogen (NDC) Gas Power Plant (PLTG) which supplies electricity and steam to support oil production in the Rokan Block. This acquisition follows the transfer of management of the Rokan Block from PT Chevron Pacific Indonesia (CPI) to PT Pertamina Hulu Rokan (PHR).
PLN's Director of Commerce and Customer Management Bob Saril said that the process of acquiring a 95% stake in MCTN of PT Chevron Standard Limited (CSL) in MCTN is still in the negotiation process. However, his party has reached an agreement regarding the sound of the articles in the conditional sales purchase agreement (CSPA). Winners will be announced this week.
"We are coordinating the negotiations, hopefully in the not too distant future we will close, we will get PLN's 100% MCTN shares," he said in a statement.
discussion of Power Supply Reliability Keeps Rokan Block Production.
He explained, because it is the acquisition of share ownership, later MCTN will become a subsidiary of PLN. This means that there will be no change in operator from PLTG NDC so that it will continue to operate normally when there is a transfer of management of the Rokan Block to Pertamina in August.
After the announcement of the winner of the stock auction, there will be a grace period of one month. However, it is certain that the acquisition of MCTN shares can be completed before the transfer of management of the Rokan Block takes place.
“From August 8 to August 9 [MCTN] will take place as usual. A week or even before that, the share shares have been taken by [PLN], as well as the business license has been referred to PLN, “said Bob.
He hopes that the government can provide support related to the required permits. As for the other two power plants, namely PLTG Minas and Central Duri, he said that PT Pertamina Hulu Rokan (PHR) will still be managed in the next year. After that, his party hopes that these two power plants can also enter the PLN system so that they can be renewed. PLTG NDC will also be updated by his party.
"So this 400 MW can be managed by PLN," he said.
For the long term, his party will supply electricity to the Rokan Block from the Sumatra Electricity System. This will make the electricity supply more reliable and efficient than if only relying on PLTG. Moreover, the electricity reserve (reserve margin) of the Sumatra System has reached 35-40%.
The Rokan Block's electricity supply will come from three sources, namely from the New Garuda Sakti Transmission-Balai Pungut 290 MW, the Duri Transmission-Balai Pungut 240 MW, and the Balai Pungut Generator 250 MW. In addition, PLN will equip it with high-voltage (TT) compensator facilities and a 5x100 MW converter. All of these facilities will be operational within the next three years in 2024.
"So if a power plant goes out of the system or is under maintenance, the electricity supply remains as it is," explained Bob.
In addition to the electricity supply, Bob also emphasized that his party will guarantee the supply of steam to the Rokan Block. His party will supply the steam needs of 335 thousand barrels of steam per day/ BSPD using a new steam generator which is also targeted to operate in the next three years.
PT Pertamina Hulu Rokan (PHR) Business Support Project Leader Danang Ruslan Saleh said the Rokan Block operation requires a supply of 400 MW and 335,000 BSPD of steam. Around 270 MW or 60-70% of electricity supply so far comes from PLTG NDC. Likewise, the steam supply of 70 thousand BSPD or 70-80% of the total demand also comes from this facility. The continuity of this supply will determine the Rokan Block's oil production.
"But we are now with a Production Sharing Contract / PSC gross split, so we are required to be very efficient, including in the supply of electricity, steam, and gas," he said.
Pertamina is said to be committed to continuing to boost oil production in the Rokan Block. A number of programs have been prepared by his parties, such as infill drilling and water floods. So that, in the future, the Rokan Block can still be the main contributor to national oil production.
"We are working massively and aggressively to increase the Rokan Block's oil production," said Danang.
PLN and PT Pertamina Hulu Rokan (PHR) have also signed the Electricity and Steam Sales and Purchase Agreement (SPJBTLU) on February 1, 2021. This SPJBTLU will come into effect in August 2021.
Investor Daily, Page-10, Wednesday, June 23, 2021
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