Chinese giant jumps into $ 980m power plant, LNG projects

Local energy firm PT Energi Nusantara Merah Putih will team up with a Chinese engineering contractor to build a liquefied natural gas (LNG) receiving terminal and a combined-cycle power plant (PLTGU) in Bantaeng, South Sulawesi, with total investment value of US$980 million. Sinland Development, a subsidiary of project engineering giant China Machinery Engineering Corporation (CMEC), is expected to develop the facilities under an engineering, procurement and construction contract. 

The power plant, with a capacity of 600 megawatts (MW) of electricity is deemed crucial to support the development of Bantaeng Industrial Park (KIBA), measuring about 3,000 hectares. Various smelters, especially. for nickel, will be built within the industrial park in line with the government’s efforts to strengthen the country’s processing industry

“The investment for these projects is huge. Hence, we need a guaranteed offtaker for the next 20 or 30 years. The collaboration with the CMEC will ensure demand from Chinese steel manufacturers in the long run, in addition to demand from nickel smelters in Bantaeng,” Energi Nusantara president director Westana H. Wiraatmadja said after signing a memorandum of understanding with CMEC in Jakarta on Friday.

The financial closures for the two facilities are expected to be reached by year-end, or February 2013 at the latest. Meanwhile. the commercial operations date is slated for the end of 2020 or beginning of 2021, as Energi Nusantara expects the construction will be completed within 36 months. The power plant will need around 600,000 to 650,000 tons of LNG a year. However, Energi Nusantara has yet to decide whether it will import the LNG or buy it from a domestic supplier,

“Indeed, the availability factor for gas is crucial for us to reach financial closure. Nonetheless, we still need more time to negotiate with the gas suppliers as it’s going to cost us big money, around $10 billion for a minimum 20 year-supply,” Westana said.

He estimated that the electricity price from the new plant would be around 9.8 US cents per kilowatt hour (kwh) if there was no significant jump in LNG prices. According to the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas), the weighted average price of LNG in the upstream sector was at $4.36 per million British thermal units (mmbtu) in 2016, with other costs including shipping, regasification and transmission reaching $ 4 to $ 6 per mmbtu.

At present, there are two nickel smelters in KIBA that plan to start operations before year-end. Moreover, the Bantaeng administration is currently negotiating with another investor to build a new smelter in the near future. Hence, the 600-MW PLTGU will play an important role in supporting the operation of smelters in KIBA, as currently there is only one hydroelectric power plant with a capacity of 4 MW in Bantaeng. 

“The development of KIBA will increase the local economy in Bantaeng and its neighboring regions, as it will absorb [...] hundreds of workers and increase the land value around the industrial park,” said Bantaeng administration secretary Abdul Wahab.

The Bantaeng administration has calculated that it can generate at least Rp 1 trillion (US$ 75 million) of income from KIBA when it is fully developed in the future. "Through the presence of a new power plant. for instance. we can get additional income from the street lighting tax,” said Abdul. Meanwhile, CMEC chairman Sun Bai expected the collaboration with Energi Nusantara to pave the way for the company to undertake more infrastructure projects in Indonesia in the long run. “We will take a very aggressive step for the Indonesian market as it is a very important market for CMEC’s strategic plan,” Sun Bai said.

Jakarta Post, Page-13, Saturday, Feb, 25, 2017

Pertamina Open Opportunities for National Company

PARTNER SELECTION BONTANG REFINERY 

PT Pertamina will hold an announcement once the selection of partners for the project refinery fuel oil (BBM) just in Bontang, East Kalimantan at the end of this month. In Ielang this time, Pertamina open opportunity for national companies to come invest in this project.

Director megaproject PengoIahan and Pertamina Petrochemical Hardadi Rachmat said, in contrast to Tuban Refinery Project, a partner in the Bontang workmanship is not limited only world-class player refinery business. Pertamina has opened up opportunities for companies, both from the refinery business, buying and selling (trading), and financial institutions, to become a strategic partner in the implementation of the Project Bontang.

"To Bontang, we do not limit that the candidate has experience building a refinery in the country or other countries, it will be more chance of domestic investors can contribute," he said in a conference

the press in Jakarta, Friday (24/2).

He explained, for the refinery project, Pertamina is not just looking for strategic partners like to Tuban refinery. For Bontang, partners sought are some companies that join the consortium, which consists of a strategic partner, the company crude oil supplier, and the owners of capital.

According to him, there are four major characteristics desired potential partners Pertamina. The details, have a strong track record in the industry a major oil pengoIahan keahndalan operational and project execution, can adjust to the structure and business model of the desired Pertamina, has a strong desire to accelerate the project and complete it in 2023, as well as provide compelling value for Bontang refinery project.

Project expose or exposure Bontang details about this project will be held on February 28 this Pertamina. It also marks the start of the selection of potential partners. Hardadi targeting, the company has gained a strategic partner two weeks after the project expose or on April 28, 2017. "Then the frame work agreement to be signed in mid-second quarter or the end of April," he said.

Immediately after his election, Pertamina, along with strategic partners will begin the process of Bankable Feasibility Study (BFS) which is targeted for completion in early 2018. In addition, the company will complete the formation of the consortium and set Pre-Investment Decision 1 which illustrates the expected initial investment Bontang refinery project.

"At the time (signatory frame work agreement) existing US $ 5 million placed in the account for a guarantee of sincerity. Then after sunrise Pre-Investment Deeision 1, put the commitment of US $ 10 million, "said Hardadi.

Senior Vice President of Business Development Pertamina Iriawan Yulianto said it has invited and announced in the mass media expose Bontang Project plan. Invitations are sent to companies prospective strategic partner, announcing smentara to find a partner who is a member of the consortium. So far more than 50 companies expressed their interest to follow Project Expose.

"From these two ways, there are seven companies of invitation prospective strategic partner and 50 companies of the announcement in the newspaper," he said.

Strategic partners are expected to play a role in the procurement of crude and prepare funding. Partners also have the ability to market products that are not absorbed in the domestic market to foreign markets, such as Australia, Papua New Guinea, New Zealand and the Philippines. In addition, the partnership is expected to adhere to the corporate governance aspects and promote local content.

Bontang plant is targeted to process crude oil of about 300 thousand barrels per day (bpd). However, the company is not sure konigurasi volume of each product. Hardadi just mentioned, the portion of solar production will reach about 40% of the total refinery capacity. "For gasoline (petrol), I can not tell now because the petrochemical not yet been defined," he said.

Economical ascertained

Hardadi said, the investment value Bontang refinery will be lower than US $ 3 billion. This is partly because already the availability of the necessary equipment such as power generation and supply of nitrogen as well as infrastructure supporters such as settlement and airports.

"Estimation (investments) of approximately US $ 8 billion, may be US $ 10-12 billion, if the Tuban refinery between US $ 12-15 billion. And then IRR (internal rate of return / return on equity) of 13%, on top of big rate, so definitely fly (to the street), "he said.

In addition to land, ancillary equipment, and additional infrastructure already available, the location is close to the Bontang Philippines also be an advantage for potential investors. Therefore, the company expects there will be residual production of diesel and jet fuel that can not be absorbed by the market domestjk approximately 35%. The rest of the production is to be exported by Pertamina and its partners.

"The Philippines is very suffer for diesel oil and aviation fuel. So this could be a potential market, "he said. Meanwhile, other products which is sold in the country, will certainly be bought by Pertamina.

For the portion of stock ownership, Pertamina will enter with a minimum ownership of approximately 5% to 25% in the early stages. However, the company furthermore has the right or option to increase its holdings in the period to be agreed upon later. Thus, the partner will hold a majority stake. "This is because many Pertamina projects once and executed at almost the same. So is giving eager for money, " he said.

Nevertheless, it would ensure Bontang stay will be an asset Pertamina. He said he and partners will discuss the clauses of right to buy or partner's chances of buying sallam gradually after 1020 years. Until now, Pertamina already has positive experience in partnering with other international partners. SK Energy, South Korea for the project in partnership with Pertamina Lube Base Group Ill (synthetic lubricant) since 2007 in Unit II Dumai refinery Refinery, Rosneft Oil Company for GRR Tuban and Saudi Aramco to RDMP Cilacap.

Implementation of the construction of a new refinery in Bontang is a further tintlak of ESDM Minister Decree No. 7935 K / 10 / MEM / 2016 dated December 9, 2016 which is assigned Pertamina to build and operate an oil refinery in Bontang, East Kalimantan. The project is expected to support Nawacita/Nine Hope President Joko Widodo to increase energy independence by reducing fuel imports.

IN INDONESIAN

SELEKSI MITRA KILANG BONTANG

Pertamina Buka Kesempatan bagi Perusahaan Nasional

PT Pertamina akan menggelar pengumuman sekaligus seleksi mitra untuk proyek kilang bahan bakar minyak (BBM) baru di Bontang, Kalimantan Timur pada akhir bulan ini. Dalam Ielang kali ini, Pertamina membuka kesempatan bagi perusahaan-perusahaan nasional untuk ikut menanamkan modal dalam proyek ini.

Direktur Megaproyek PengoIahan dan Petrokimia Pertamina Rachmad Hardadi mengatakan, berbeda dengan Proyek Kilang Tuban, mitra dalam pengerjaan Kilang Bontang ini tidak dibatasi hanya pemain bisnis kilang kelas dunia. Pertamina telah membuka kesempatan bagi perusahaan-perusahaan, baik dari bisnis kilang, jual beli (trading), dan institusi finansial, untuk menjadi mitra strategis dalam pelaksanaan Proyek Kilang Bontang.

“Untuk Kilang Bontang, kami tidak membatasi bahwa peserta memiliki pengalaman membangun kilang di negaranya atau negara lain, maka akan lebih banyak kesempatan investor dalam negeri bisa memberi kontribusi,” kata dia dalam jumpa pers di Jakarta, Jumat (24/2).

Dia menjelaskan, untuk proyek kilang ini, Pertamina tidak hanya mencari mitra strategis seperti untuk Kilang Tuban. Untuk Kilang Bontang, mitra yang dicari adalah beberapa perusahaan yang bergabung menjadi konsorsium, yang terdiri dari mitra strategis, perusahaan pemasok minyak mentah, dan pemilik modal.

Menurut dia, terdapat empat karakteristik utama calon mitra yang dikehendaki Pertamina. Rinciannya, memiliki rekam jejak yang kuat pada industri pengoIahan minyak utamanya keahndalan operasional dan eksekusi proyek, dapat menyesuaikan dengan struktur dan model bisnis yang dikehendaki Pertamina, memiliki keinginan kuat untuk percepatan proyek dan

menyelesaikannya pada 2023, serta memberikan nilai menarik bagi proyek Kilang Bontang.

Project expose atau paparan rinci soal Proyek Kilang Bontang ini akan digelar Pertamina pada 28 Februari ini. Hal ini sekaligus menandai dimulainya seleksi calon mitra. Hardadi menargetkan, perseroan sudah memperoleh mitra strategis dua pekan setelah project expose atau pada 28 April 2017. “Kemudian akan ditandatangani frame work agreement pada pertengahan

kuartal kedua atau akhir April,” kata dia.

Segera setelah terpilih, Pertamina bersama mitra strategis akan memulai proses Bankable Feasibility Study (BFS) yang ditargetkan selesai pada awal tahun 2018. Selain itu, perseroan akan menuntaskan pembentukan konsorsium dan menetapkan Pre-Investment Decision 1 yang menggambarkan perkiraan awal investasi Proyek Kilang Bontang.

“Pada saat itu (penandatangan frame work agreement) sudah ada US$ 5 juta yang ditaruh di account untuk jaminan kesungguhan. Kemudian setelah terbit Pre-Investment Deeision 1, ditaruh komitmen US$ 10 juta,” kata Hardadi.

Senior Vice President Business Development Pertamina Iriawan Yulianto mengatakan, pihaknya telah mengundang dan mengumumkan di media massa rencana Project expose Kilang Bontang. Undangan dikirimkan kepada perusahaan-perusahaan calon strategic partner, smentara pengumumkan untuk mencari mitra yang menjadi anggota konsorsium. Sejauh ini lebih dari 50 perusahaan menyatakan berminat mengikuti Project Expose.

“Dari dua cara ini, ada tujuh perusahaan dari undangan calon strategic partner dan 50 perusahaan dari pengumuman di koran," tuturnya.

Mitra strategis diharapkan berperan dalam pengadaan crude dan menyiapkan pendanaan. Mitra juga memiliki kemampuan dalam memasarkan produk yang tidak terserap di pasar dalam negeri ke pasar luar negeri, seperti Australia, Papua Nugini, Selandia Baru dan Filipina. Selain itu, kemitraan diharapkan mematuhi aspek GCG dan mengedepankan tingkat kandungan dalam negeri.

Kilang Bontang ditargetkan mampu mengolah minyak mentah sekitar 300 ribu barel per hari (bph). Namun, perseroan belum memastikan konigurasi volume masing-masing produk yang dihasilkan. Hardadi hanya menyebutkan, porsi produksi solar akan mencapai sekitar 40% dari total kapasitas kilang. “Untuk gasoline (bensin), saya tidak bisa sampaikan sekarang karena petrokimianya belum didefinisikan,” ujarnya.

Dipastikan Ekonomis

Hardadi menuturkan, nilai investasi Kilang Bontang akan lebih rendah dari Kilang sekitar US$ 3 miliar. Hal ini lantaran sudah tersedianya sebagian peralatan yang diperlukan seperti pembangkit listrik dan pasokan nitrogen serta infrastruktur pendukung seperti pemukiman dan bandar udara.

“Estimasi (investasi) sekitar US$ 8 miliar, mungkin bisa US$ 10-12 miliar, kalau kilang Tuban antara US$ 12-15 miliar. Kemudian IRR (internal rate of return/tingkat pengembalian modal) 13%, di atas big rate, jadi pasti fly (bisa jalan)," kata dia.

Selain lahan, peralatan pendukung, dan infrastruktur tambahan yang sudah tersedia, lokasi Bontang yang dekat dengan Filipina juga menjadi keuntungan bagi calon investor. Sebab, perseroan memperkirakan akan ada sisa produksi solar dan avtur yang tidak dapat terserap pasar domestjk sekitar 35%. Sisa produksi ini dapat diekspor oleh Pertamina dan mitranya.

“Filipina sangat suffer untuk minyak diesel dan avtur. Sehingga ini bisa menjadi pasar potensial," ujar dia. Sementara produk lain yang dijual ke dalam negeri, dipastikan akan dibeli oleh Pertamina.

Untuk porsi kepemilikan saham, Pertamina akan masuk dengan minimal kepemilikan sekitar 5% hingga 25 % pada tahap awal. Namun, perseroan selanjutnya mempunyai hak atau pilihan untuk meningkatkan kepemilikan dalam periode yang akan disepakati kemudian. Sehingga, mitra akan memegang saham mayoritas.

“ini karena proyeknya Pertamina banyak sekali dan dilaksanakan pada saat hampir bersamaan. Jadi bagi-bagi uanglah,”

ujarnya.

Meski demikian, pihaknya akan memastikan Kilang Bontang tetap akan menjadi aset Pertamina. Pihaknya dan mitra akan membahas klausul right to buy atau kemungkinan membeli sallam milik mitra secara bertahap setelah 1020 tahun. Sampai saat ini Pertamina sudah mempunyai pengalaman positif dalam bermitra dengan mitra-mitra lnternasional. SK Energy, Korea Selatan bermitra dengan Pertamina untuk proyek Lube Base Grup Ill (pelumas sintetis) sejak tahun 2007 di kilang Refinery Unit ll Dumai, Rosneft Oil Company untuk GRR Tuban dan Saudi Aramco untuk RDMP Kilang Cilacap.

Pelaksanaan pembangunan kilang baru di Bontang ini merupakan tintlak lanjut dari Keputusan Mentri ESDM No. 7935 K/10/MEM/2016 tanggal 9 Desember 2016 yang menugaskan Pertamina untuk membangun dan mengoperasikan kilang minyak di Bontang, Kalimantan Timur. Proyek ini diharapkan bisa mendukung Nawacita Presiden Joko Widodo untuk meningkatkan kemandirian energi dengan mengurangi impor BBM.

Investor Daily, Page-9, Saturday, Feb, 25, 2017

50 Investors Eyeing Bontang Refinery

PT Pertamina said until yesterday, there are about 50 companies ranging from major oil companies to financial institutions interested in participating in the project bidding expose Bontang project on 28 February.

"There are more than 50 companies potential partners so far as we have a world-class competence for Mega Project Processing and Petrochemicals, said projectexpose GRR present in Bontang," said Director of Processing and Petrochemical megaproject Rachmad Hardadi Pertamina in Jakarta Pertamina Headquarters.

Rachmat said the number was a positive signal not only for a new refinery project grass root refinery (GRR) Bontang, but also the investment climate in Indonesia is considered attractive in the oil and gas sector. SVP Business Development Pertamina Iriawan Yulianto explained Expose GRR Bontang Project participants is done through invitations and announcements for national and international media.

Seven strategic partner of the world's oil companies have expressed readiness to follow the project bidding, while 50 companies of various types in getting through a media announcement. "Seven strategic partner of the major oil companies, while 50 companies that mix; No foreign and domestic. Very much at all interested, but we'll adjust how many can attend, "Iriawan.

Pertamina expects to acquire the strategic partner on April 28, 2017. Once elected, Pertamina, along with strategic partners will begin the process of feasibility analysis bankable feasibility study (BFS) which is targeted for completion in early 2018 once completed the formation of the consortium and the determination of preinvestment decision 1 that describes the initial estimate GRR investment Bontang.

GRR Bontang targeted to process crude oil of about 300 thousand barrels per day (bpd). However, Pertamina refinery capacity GRR Bontang assess potentially be increased to 400 thousand bpd. The increase in capacity is called not have a major impact on the amount of investment was US $ 10 billion-US $ 12 billion.

IN INDONESIAN

50  Investor Minati Kilang Bontang  

PT Pertamina menyatakan hingga kemarin, ada sekitar 50 perusahaan mulai dari perusahaan minyak dunia hingga institusi finansial berminat mengikuti penawaran proyek project expose Kilang Bontang pada 28 Februari kemarin.

“Terdapat lebih dari 50 perusahaan calon mitra yang sejauh pengamatan kami memiliki kompetensi berkelas dunia untuk Mega Proyek Pengolahan dan Petrokimia, menyatakan hadir dalam projectexpose GRR Bontang,” kata Direktur Megaproyek Pengolahan dan Petrokimia Pertamina Rachmad Hardadi di Kantor Pusat Pertamina Jakarta.

Rachmat mengatakan jumlah  itu menjadi sinyal positif tidak hanya bagi proyek kilang baru grass root refinery (GRR) Bontang, namun juga iklim investasi di Indonesia yang dinilai menarik di sektor minyak dan gas. SVP Business Development Pertamina Iriawan Yulianto menjelaskan peserta Project Expose GRR Bontang ini dilakukan melalui undangan dan pengumuman media nasional maupun internasional.

Tujuh mitra strategis dari perusahaan minyak dunia yang menyatakan siap mengikuti penawaran proyek, sedangkan 50 perusahaan dari berbagai tipe di dapatkan melalui pengumuman media. “Tujuh mitra strategis itu perusahaan minyak dunia, sedangkan 50 perusahaan itu campuran; ada dari luar negeri dan dalam negeri. Sangat banyak sekali yang berminat, namun kita akan sesuaikan berapa yang bisa hadir,” kata Iriawan.

Pertamina menargetkan dapat memperoleh mitra strategis tersebut pada 28 April 2017. Setelah terpilih, Pertamina bersama mitra strategis akan memulai proses analisis kelayakan usaha bankable feasibility study (BFS) yang ditargetkan selesai pada awal 2018 sekaligus menuntaskan pembentukan konsorsium serta penetapan preinvestment decision 1 yang menggambarkan perkiraan awal investasi GRR Bontang.

GRR Bontang ditargetkan mampu mengolah minyak mentah sekitar 300 ribu barel per hari (bph). Namun, Pertamina menilai kapasitas Kilang GRR Bontang berpotensi ditingkatkan hingga 400 ribu bph. Kenaikan kapasitas disebut tidak berdampak besar pada besaran investasi US$ 10 miliar-US$12 miliar.

Media Indonesia, Page-14, Saturday, Feb, 25, 2017

DBH Migas Bojonegoro Transferred March

The Ministry of Finance will transfer the funds to the result (DBH) Bojonegoro, East Java, for the first quarter amounted to Rp 225 billion from this year's target of DBH amounting to Rp 900 billion, end of March. Head of the Department of Revenue Pemkah Herry Sudjarwo Bojonegoro, Bojonegoro, Friday (24/2), explains, a habit that has been running for this to transfer oil and gas DBH first quarter of the Ministry of Finance in late March.

"If our calculations, the amount of the acquisition of oil and gas DBH trilwuan I totaling Rp 225 billion, as long as there are no cuts," he explained. However, according to him, the possibility of allocation of quota calculation DBH Migas Rp 225 billion for the quarter l can not diterina intact. Therefore, the area still has excess residual DBH Gas Ducts Rp 78 billion in 2014.

"If cut, we only accept gas DBH first quarter amounted to Rp 147 billion," he said. In fact, according to him, the district has allocated pemerinath DBH target of oil and gas this year from Rp 900 billion in budget 2017. "If the acquisition of oil and gas DBH is reduced, obviously will affect the budget allocation in the 2017 budget," he said.

Furthermore, he explained, in the 2017 state budget envisaged are State Budget Act for the national oil lifting assumption is set at 815 thousand barrels per day. In lifting it, of which 26 per cent will come from oil-producing region Bojonegoro, with a target of 76.4 million barrels or equivalent 3 212 barrels per day.

IN INDONESIAN

DBH Migas Bojonegoro Ditransfer Maret

Kementerian Keuangan akan mentransfer dana bagi hasil (DBH) Kabupaten Bojonegoro, Jawa Timur untuk Triwulan I sebesar Rp 225 miliar dari target perolehan DBH tahun ini sebesar Rp 900 miliar, akhir Maret. Kepala Dinas Pendapatan Daerah Pemkah Bojonegoro Herry Sudjarwo, di Bojonegoro, Jumat (24/2), menjelaskan, kebiasaan yang sudah berjalan selama ini untuk transfer DBH migas triwulan I dari Kementerian Keuangan akhir Maret. 

"Kalau perhitungan kami, besarnya perolehan  DBH migas trilwuan I sebesar Rp 225 miliar, sepanjang tidak ada potongan," jelas dia. Hanya saja, menurut dia, kemungkinan alokasi perhitungan jatah DBH Migas sebesar Rp 225 miliar untuk triwulan l bisa tidak diterina utuh. Sebab, daerahnya masih memiliki kelebihan sisa salur DBH Migas sebesar Rp 78 miliar pada 2014.

"Kalau dipotong, kita hanya menerima DBH migas triwulan I sebesar Rp 147 miliar," ujarnya. Padahal, menurut dia, pemerinath kabupaten sudah mengalokasikan target perolehan DBH migas tahun ini sebesar Rp 900 miliar di dalam APBD 2017. "Kalau perolehan DBH migas berkurang, jelas akan mempengaruhi alokasi anggaran di dalam APBD 2017," ucapnya.

Lebih lanjut ia menjelaskan, di dalam APBN 2017 yang sudah ditetapkan menjadi Undang-Undang APBN untuk asumsi lifting minyak nasional ditetapkan sebesar 815 ribu barel per hari. Dalam lifting itu, di antaranya sebesar 26 persen akan dipenuhi dari daerah penghasil minyak Bojonegoro, dengan target 76,4 juta barel 3 atau setara 212 barel per hari.

Harian Bangsa, Page-4, Saturday, Feb, 25, 2017

57 Companies Eyeing Cooperation Bontang Refinery

A total of 57 companies expressed interest in the project following the expose of Grass Root Refinery (GRR) Bontang, East Kalimantan, which has been held on Tuesday (28/2). All 57 companies that will participate expose project was obtained through two ways, namely by invitation distributed by Pertamina and mediated through open advertisement nationally and internationally. And the process, as many as seven companies responded to expose and project participation of 50 candidates willing to participate in the selection.

Pertamina also create opportunities Saudi Aramco oil company from Saudi Arabia come to be a strategic partner in the project GRR Bontang. "We invite companies that have the competence to become strategic partners in the implementation of mega-projects GRR Bontang, either from the refinery, trading company, as well as financial institutions," said Director of Processing and Petrochemical Rachmad megaproject Hardadi.

According to him, there are four major characteristics desired potential partners Pertamina, of which have a strong track record in the oil processing industry mainly operational reliability and execution of the project. 

     In addition, prospective partners must adjust to the structure and business model in the desired Pertamina and has a strong desire to accelerate the project and completed it in 2023. "Until yesterday, there are over 50 companies potential partners so far as we have world class competence for mega projects processing and petrochemicals, said it would present in GRR Expose Bontang Project on Tuesday (28/2), "said Hardadi.

Pertamina expects to acquire a strategic partner of the refinery construction on April 28, 2017. After being elected Pertamina, along with strategic partners will begin the process of a bankable feasibility study (BFS) which is targeted for completion in early 2018. He rnenambahkan, Pertamina ownership in Bontang refinery project estimated to be between 5-25% given the considerable investment capabilities, ie up to USD 15 billion.

Senior Vice President of Business Development Directorate Pertamina Refining Iriawan Yulianto added, the number of companies that will expose it to follow project could still grow given project deadlines reservation made at least expose yesterday (28/2). Nonetheless, the bidders who will emerge after the project officially expose already announced on Tuesday (28/2). 

    Based on data from Pertamina, targeted Bontang refinery capable of processing 300,000 barrels of crude oil per day. Meanwhile, the type of fuel oil (BBM) is produced, which is as much as 60,000 bpd of gasoline, and diesel at least 124,000 bpd.

IN INDONESIAN

57 Perusahaan Minati Kerja Sama Kilang Bontang

Sebanyak 57 perusahaan menyatakan minat mengikuti project expose Grass Root Refinery (GRR) Bontang, Kalimantan Timur, yang sudah dilaksanakan pada Selasa (28/2). Ke-57 perusahaan yang akan ikut project expose itu didapat melalui dua cara yaitu lewat undangan yang disebar Pertamina dan melalui iklan terbuka dimedia nasional maupun internasional. Dan proses tersebut, sebanyak tujuh perusahaan merespons keikutsertaan project expose dan dari 50 calon bersedia mengikuti seleksi.

Pertamina juga membuka peluang Saudi Aramco perusahaan minyak asal Arab Saudi ikut menjadi mitra strategis di proyek GRR Bontang. "Kami mengundang perusahaan-perusahaan yang memiliki kompetensi untuk menjadi mitra strategis dalam pelaksanaan mega proyek GRR Bontang, baik dari refinery, trading company, maupun institusi finansial,” ujar Direktur Megaproyek Pengolahan dan Petrokimia Rachmad Hardadi.

Menurut dia, terdapat empat karakteristik utama calon mitra yang dikehendaki Pertamina, di antaranya memiliki rekam jejak yang kuat pada industri pengolahan minyak utamanya kehandalan operasional dan eksekusi proyek. 

     Selain itu, calon mitra harus menyesuaikan dengan struktur dan model bisnis yang di kehendaki Pertamina serta memiliki keinginan kuat untuk percepatan proyek dan menyelesaikannya pada 2023. “Hingga kemarin, terdapat lebih dari 50 perusahaan calon mitra yang sejauh pengamatan kami memiliki kompetensi world class untuk mega proyek pengolahan dan petrokimia, menyatakan akan hadir dalam Project Expose GRR Bontang pada Selasa (28/2)," kata Hardadi.

Pertamina menargetkan dapat memperoleh mitra strategis pembangunan kilang tersebut pada 28 April 2017. Setelah terpilih Pertamina bersama mitra strategis akan memulai proses bankable feasibility study (BFS) yang ditargetkan selesai awal 2018. Dia rnenambahkan, kepemilikan Pertamina dalam proyek Kilang Bontang diperkirakan antara 5-25% mengingat kemampuan investasi cukup besar, yaitu sampai USD 15 miliar. 

Senior Vice President Business Development Refining Directorate Pertamina Iriawan Yulianto menambahkan, jumlah perusahaan yang akan mengikuti project expose itu masih bisa bertambah mengingat tenggat waktu reservasi project expose dilakukan paling lambat kemarin (28/2). Meskipun demikian, peserta lelang yang resmi akan muncul setelah project expose sudah diumumkan Selasa (28/ 2). 

     Berdasarkan data Pertamina, Kilang Bontang ditargetkan mampu mengolah minyak mentah sekitar 300.000 barel per hari. Adapun, jenis bahan bakar minyak (BBM) yang diproduksi, yaitu bensin sebanyak 60.000 bph, dan solar paling sedikit 124.000 bph.

Koran Sindo, Page-9, Saturday, Feb, 25, 2017

Pertamina Give Opportunities Partners Master Bontang

Pertamina currently working on four modernization of refineries and the new refinery in Tuban

PT Pertamina was making some sort of competition in Bontang refinery project. In this project, Pertamina will become the majority shareholder, but only 5% -25%. Consequently, the partners will be selected later able to control a majority stake Bontang refinery. To find one, on February 28 last, Pertamina will hold expose Bontang refinery project. Of emails that have been entered into Pertamina, there are 57 potential partners, both from oil and gas companies, financial companies, traders as well as domestic investors ready to participate in exposure to expose the project.

Director of Processing and Petrochemical megaproject Hardadi Rachmat explained, Bontang's project has an internal rate of return (IRR) is higher than any other refinery projects. "What is clear at the top of high, rate of approximately 10%. If I remember correctly, Bontang was about 13%, "said Hardadi.

He also claimed, the investment could Iebih Bontang low, at $ 2 billion to $ 3 billion compared Tuban refinery project, which reached US $ 12 billion to US $ 15 billion. Bontang refinery investment is projected at US $ 8 billion to $ 12 billion. The lower Bontang refinery project because support facilities and utilities have been available in Bontang. In addition, Pertamina is the taker (buyer) of products produced Bontang.

Pertamina provides an opportunity for partners become the majority shareholder. Pertamina can only grow 5% -25% stake in Bontang, because modernization is working on four new refineries and refinery in Tuban along with Russia's Rosneft. Therefore, in the Bontang refinery should partner more than one company and could form a consortium. "We will continue to include the clause of right to buy, in 10 years - 20 years later Pertamina could buy shares of partners in Bontang," said Rachmat.

There are four characteristics of companies that later selected. Which has a strong track record in the oil processing industry, especially operational reliability and execution of the project, can adjust to the structure and business model that you want, accelerate project completion by 2023, and provide compelling value to the project.

Stages of project selection has been formulated, namely Pertamina targets to obtain strategic partners 28 April 2017. Once elected, Pertamina and partners will begin the process of a bankable feasibility study is targeted for completion in early 2018. It once completed the formation of the consortium and will set preliminary investment decision 1 that illustrates the expected initial investment Bontang refinery project. Pertamina requires selected partners include funding certainty of the project is US $ 5 million in the second quarter of 2017 and US $ 10 million beginning in 2018.

He explained, Bontang will be able to process about 300,000 barrels of crude oil per day. Strategic partners are expected to play a role in the procurement of crude and prepare funding. Partners also have the ability to enter a product that is not absorbed by the domestic market to foreign markets, such as Australia, Papua New Guinea, New Zealand and the Philippines.

IN INDOENSIAN

Pertamina Beri Peluang Mitra Menguasai Bontang

Pertamina sedang menggarap empat modernisasi kilang dan satu kilang baru di Tuban

PT Pertamina sedang membuat semacam sayembara dalam proyek Kilang Bontang. Dalam proyek ini Pertamina tidak akan menjadi pemegang saham mayoritas, melainkan hanya 5%-25%. Konsekuensinya, mitra yang akan dipilih nanti bisa  menguasai mayoritas saham Kilang Bontang. Untuk mencari mitra tersebut, pada 28 Februari kemarin, Pertamina akan menggelar project expose Kilang Bontang. Dari email yang sudah masuk ke Pertamina, ada 57 calon mitra, baik dari perusahaan minyak dan gas, perusahaan finansial, Trader serta investor domestik siap ikut dalam paparan project expose tersebut.

Direktur Megaproyek Pengolahan dan Petrokimia Rachmad Hardadi menerangkan, proyek Kilang Bontang ini memiliki internal rate of return (IRR) lebih tinggi dibandingkan proyek kilang lain. “Yang jelas di atas high, rate sekitar 10%. Kalau saya tidak salah ingat, Kilang Bontang itu sekitar 13%," kata Hardadi.

Dia juga mengklaim, investasi Kilang Bontang bisa Iebih rendah, yakni US$ 2 miliar- US$ 3 miliar dibandingkan proyek Kilang Tuban, yang mencapai US$ 12 miliar- US$ 15 miliar. Investasi kilang Bontang diproyeksi US$ 8 miliar- US$ 12 miliar. Lebih rendahnya proyek kilang Bontang lantaran fasilitas pendukung dan utilitas telah tersedia di Bontang. Selain itu, Pertamina menjadi offtaker (pembeli) produk yang dihasilkan Kilang Bontang.

Pertamina memberikan kesempatan bagi mitra menjadi pemegang saham mayoritas. Pertamina hanya bisa menanam 5%-25% saham di Kilang Bontang, lantaran sedang menggarap empat modernisasi kilang dan kilang baru di Tuban bersama Rosneft Rusia. Maka dari itu, di kilang Bontang, mitra boleh lebih dari satu perusahaan dan bisa berbentuk konsorsium. "Kami tetap akan menyertakan klausul right to buy, dalam 10 tahun - 20 tahun nanti Pertamina bisa membeli saham mitra di Kilang Bontang," kata Rachmad. 

Ada empat karakteristik perusahaan yang nanti dipilih. Yaitu memiliki rekam jejak kuat pada industri pengolahan minyak, terutama kehandalan operasional dan eksekusi proyek, dapat menyesuaikan dengan struktur dan model bisnis yang dikehendaki, mempercepat proyek selesai tahun 2023, dan memberikan nilai menarik bagi proyek.

Tahapan pemilihan proyek sudah dirumuskan, yakni Pertamina menargetkan memperoleh mitra strategis 28 April 2017. Setelah terpilih, Pertamina bersama mitra akan memulai proses bankable feasibility study yang ditargetkan selesai awal tahun 2018. Ini sekaligus menuntaskan pembentukan konsorsium dan akan ditetapkan preliminary investment decision 1 yang menggambarkan perkiraan awal investasi proyek Kilang Bontang. Pertamina mensyaratkan mitra yang dipilih menyertakan dana kepastian proyek sebesar US$ 5 juta pada kuartal II-2017 dan US$ 10 juta awal tahun 2018.

Dia menjelaskan, Kilang Bontang akan mampu mengolah minyak mentah sekitar 300.000 barel per hari. Mitra strategis diharapkan berperan dalam pengadaan crude dan menyiapkan pendanaan. Mitra juga memiliki kemampuan memasukan produk yang tidak terserap pasar dalam negeri ke pasar luar negeri, seperti Australia, Papua Nugini, Selandia Baru dan Filipina.

Kontan, Page-14, Saturday, Feb, 25, 2017

Import VS Infrastructure

Plans for the opening tap gas import industry always raises two contradictions, which is about the infrastructure is not yet ready and a cargo of gas production in the country that have not been sold. As irony. Moreover, this discourse appears at the time of realization policy to reduce gas prices have stalled. We know, in May 2016, issued Presidential Decree (Decree) No. 40 of 2016 on Natural Gas Pricing. 

    Essence of this rule is to lower the price of natural gas for certain industrial sectors, namely fertilizer, petrochemical, oleochemical, steel, ceramics, glass, and rubber gloves. Benchmark, the industry did not get economical with gas prices above 6 dollars per million metric British thermal unit (MMBTU).

The President declared applicable regulations effective as of January 1, 2016 apply to this new fertilizer sector, steel, and petrochemicals. The fate of four other sectors unclear. Some parties mention, it is not easy to realize a decrease in the price of gas is calculated backwards from the date of issuance of the presidential regulation. The price of domestic gas is touted too expensive and difficult to compete with neighboring industries.

According to Pertamina, the price of gas in the eastern part of Java, an average of 7.6 dollars per MMBTU and in the western part of Java 9 dollars per MMBTU Meanwhile, in North Sumatra, more expensive, which is 12 US dollars per MMBTU. On the cash market (spot) international gas price of US $ 5 per MMBTU. 

    Then, if the import is always associated with high gas prices? Pertamina estimates, in 2020 there will be a deficit of gas in Indonesia as many as 500 million standard cubic feet per day (MMSCFD). Figures increasingly wide deficit in 2030, became 3000-3500 MMSCFD. So, there is the problem of gas supply in the future.

Another problem, Indonesia had constraints in domestic gas infrastructure, such as terminals and regasification and the floating storage unit (FSRU). Currently there are two FSRU in the country, namely FSRU West Java, Lampung FSRU, and a floating regasification unit (FRU) Benoa in Bali. 

     Causes of low domestic gas absorption, according to the Head of Public Relations Unit Special Upstream Oil and Gas (SKK Migas) Taslim Z Jonah, because gas infrastructure provided was minimal. The gas that has been produced to be immediately released into the market. If not, the storage terminal can be full and may interfere with the gas production process itself.

To build gas infrastructure was not cheap. Quoting Chairman of Indonesia Gas Society Yenni Andayani, need investment of 70-80 billion US dollars to build gas infrastructure in the country until 2030. Then, if the imported gas could solve the problem? Not necessarily. Seeing the fact that the infrastructure is still minimal, then the realization of imports still need time. 

    The price of gas is influenced conditions of supply sources, distance distribution, and other things that go into deciding the price component. By counting growth of domestic gas consumption by 5 percent per year, inevitably, gas infrastructure must be built and strengthened as soon as possible.

     In the book of Natural Gas Policy Roadmap published National 2014-2030 Ministry of Energy, the gas becomes an important option to replace petroleum reserves are expected to run out in the next 10-12 years, if no new reserves are found.

IN INDONESIAN

Impor VS Infrastruktur

Rencana pembukaan keran impor gas untuk industri selalu memunculkan dua pertentangan, yakni soal infratruktur yang belum siap dan sejumlah kargo gas produksi dalam negeri yang belum laku terjual. Seperti ironi. Apalagi wacana ini muncul di saat realisasi kebijakan penurunan harga gas yang tersendat. Kita tahu, pada Mei 2016, terbit Peraturan Presiden (Perpres) Nomor 40 Tahun 2016 tentang Penetapan Harga Gas Bumi. 

     Intisari dari aturan ini adalah menurunkan harga gas bumi bagi sektor industri tertentu, yaitu pupuk, petrokimia, oleochemical, baja, keramik, kaca, dan sarung tangan karet. Patokannya, industri tersebut tidak mendapat keekonomian dengan harga gas di atas 6 dollar AS per juta metrik british thermal unit (MMBTU).

Peraturan Presiden yang dinyatakan berlaku efektif per 1 Januari 2016 ini baru berlaku bagi sektor pupuk, baja, dan petrokimia. Nasib keempat sektor lainnya belum jelas. Sejumlah pihak menyebutkan, memang tak mudah merealisasikan penurunan harga gas yang dihitung mundur dari tanggal penerbitan perpres itu. Harga gas dalam negeri disebut-sebut terlampau mahal dan sulit bersaing dengan industri negara tetangga. 

Menurut catatan Pertamina, harga gas di Jawa bagian timur rata-rata 7,6 dollar AS per MMBTU dan di Jawa bagian barat 9 dollar AS per MMBTU Sementara, di Sumatera Utara lebih mahal lagi, yaitu 12 dollar AS per MMBTU. Di pasar tunai (spot) internasional, harga gas 5 dollar AS per MMBTU. 

   Lalu, apakah impor selalu dikaitkan dengan harga gas yang mahal? Pertamina memperkirakan, pada 2020 akan terjadi defisit gas di Indonesia sebanyak 500 juta standar kaki kubik per hari (MMSCFD). Angka defisit kian lebar pada 2030, menjadi 3.000-3.500 MMSCFD. Jadi, ada masalah pasokan gas di masa mendatang.

Masalah lain, Indonesia punya kendala infrastruktur gas di dalam negeri, seperti terminal regasifikasi serta unit penyimpanan dan regasifikasi terapung (FSRU). Saat ini baru ada dua FSRU di dalam negeri, yaitu FSRU Jawa Barat, FSRU Lampung, dan satu unit regasifikasi terapung (FRU) Benoa di Bali. 

    Penyebab serapan gas dalam negeri rendah, menurut Kepala Humas Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Taslim Z Yunus, lantaran infrastruktur gas yang tersedia sangat minim. Gas yang sudah diproduksi harus segera di lepas ke pasar. Bila tidak, terminal penyimpanan bisa penuh dan dapat mengganggu proses produksi gas itu sendiri.

Untuk membangun infrastruktur gas pun tidak murah. Mengutip Ketua Indonesia Gas Society Yenni Andayani, perlu investasi sebanyak 70-80 miliar dollar AS untuk membangun infrastruktur gas di dalam negeri hingga 2030 mendatang. Lalu, apakah impor gas bisa menyelesaikan masalah? Belum tentu. Melihat fakta infrastruktur yang masih minim, maka realisasi impor masih perlu waktu. 

    Harga gas sangat dipengaruhi kondisi sumber pasokan, jarak distribusi, dan hal lain yang masuk dalam komponen penentu harga. Dengan menghitung pertumbuhan konsumsi gas dalam negeri sebesar 5 persen per tahun, mau tidak mau, infrastruktur gas harus dibangun dan diperkuat sesegera mungkin.

Dalam buku Peta Jalan Kebijakan Gas Bumi NasionaI 2014-2030 yang diterbitkan Kementerian ESDM, gas menjadi pilihan penting untuk menggantikan minyak bumi yang cadangannya diperkirakan akan habis dalam 10-12 tahun mendatang, jika tidak ditemukan cadangan baru.

Kompas, Page-17, Saturday, Feb, 25, 2017

7 World Player Aims Bontang

Seven major oil companies eyeing Bontang project that requires an investment of US $ 12 billion-US $ 13 billion. PT Pertamina will launch the project expose the refinery capacity of 300,000 barrels per day (bpd) was on February 28.

According to Senior Vice President of Business Development Directorate of Mega Projects Pertamina Refinery and Petrochemical, lriawan Yulianto, seven companies of the world are interested in is getting a special invitation to bid because it had previously been owned by the company refinery project.

Based on the record business, major oil companies who have taken the tender refineries in Indonesia are Saudi Aramco (Saudi Arabia), Sinopec (China), JX Nippon Oil, SK Corporation (South Korea). In addition, there are two Kuwaiti companies that Kuwait Petroleum Corporation and Kuwait Petroleum International, PTT Global Chemical Public Company Limited and Thai Oil (Thailand), and Rosneft (Russia).

World oil players had a chance to take part in the project tender Tuban refinery project in Balongan refinery capacity additions, Dumai Refinery, and Cilacap. Besides the seven foreign oil companies with a special invitation, according Iriawan, there are 50 companies from outside negari and domestic also to participate in the auction netted Bontang refinery project.

"Clearly the seven companies had all the major oil companies, overseas all. 50 companies that mix, nothing from the outside, there is that of the [country] from trading companies, investors of all types of companies in the invite, "he said in Jakarta, Friday (24/2).

On the same occasion, Director of Mega Projects Pertamina Refinery and Petrochemical Hardadi Rachmat said the company seeking prospective partners who have a track record in oil processing, especially tested in terms of operational and project execution. In addition, prospective partners must be able to adjust the structure and business model of the desired Pertamina, has committed to accelerate because the project is targeted for completion in 2023, and provide added value to the project.

Pertamina, according Hardadi, hoped that the strategic partner role in the supply of crude oil and financing. Because, at the initial stage the company will only acquire a controlling stake of 5% to 25%. Another criterion is the mastery of overseas markets such as Australia, Papua New Guinea, New Zealand, and the Philippines. The reason, according to Hardadi, currently operates 35% of the solar supply Bontang refinery would be exported because of low absorption in the country. On the other hand, for another project to be produced such as gasoline series will be absorbed fully to meet domestic demand, as well as liquefied petroleum gas (LPG) and petrochemical although can not say how much volume that may be generated.

As an illustration, Hardadi mentioned that generally the total capacity of the refinery, LPG produced 7% to 10%, gasoline 40% and diesel by 50%. In fact there is excess of 55% [of solar products from Bontang] which is not absorbed in the country. "

CAPACITY MARKET

A 300,000 bpd refinery in Bontang is a basic capacity that allows plus. Taking into account the ability of the market, there are opportunities Hardadi mention the addition of up to 400,000 bpd. Nevertheless, the additional capacity will not significantly influence the capital that must be removed. Bontang's project, according Hardadi, capital of about US $ 3 billion lower than Tuban refinery which require funding of up to US $ 15 billion. That's because the availability of land and infrastructure in Bontang.

Hardadi optimistic the project with a payback ratio (internal rate of return / IRR) of 13%, the refinery can still provide benefits when oil prices began to rise. When the price of oil was at US $ 50s per barrel, he said, businesses take advantage higher refinery. However, he menybut current oil prices do not describe the normal price. Oil prices normally in the range of US $ 80 per barrel to US $ 100 per barrel is expected to occur six to seven years. Therefore, he said, in the oil price that had to be prepared for the players refineries.

"If at the time of profit, now. When the price of crude normally be the collapse ya should not be. So we calculate it precisely at the worst time later. "

Observers energy dad Rakhmanto ReforMiner Institute Pri Agung said the search for a strategic partner to build a refinery relies on the project structure and economies of scale of the project. When both aspects have fulfilled the desire of investors, anyone will be interested to invest. Government guarantees in some aspects eg funding schemes and incentives in the form of tax privileges, according to him, could add to the appeal of the project in the eyes of investors.

Moreover involvement in the project this assignment, Pertamina in the early stages will only acquire a controlling stake of up to 25%, lower than its stake in Tuban refinery project and the Cilacap refinery, which reached 55% stake. Referring to the experience of building together with partners, some projects even interrupted its partnerships.

IN INDONESIAN

 7 Pemain Dunia lncar Bontang

Tujuh perusahaan minyak dunia mengincar proyek Kilang Bontang yang membutuhkan investasi US$ 12 miliar-US$ 13 miliar.  PT Pertamina akan melansir project expose kilang berkapasitas 300.000 barel per hari (bph) itu pada 28 Februari.

Menurut Senior Vice President Business Development Direktorat Mega Proyek Kilang dan Petrokimia Pertamina, lriawan Yulianto, tujuh perusahaan dunia yang berminat memang mendapatkan undangan khusus kaRena sebelumnya pernah mengikuti tender proyek kilang milik perseroan.

Berdasarkan catatan Bisnis, perusahaan minyak dunia yang pernah mengikuti tender kilang di Indonesia adalah Saudi Aramco (Arab Saudi), Sinopec (China), JX Nippon Oil, SK Corporation (Korea Selatan). Selain itu, ada dua perusahaan asal Kuwait yakni Kuwait Petroleum Corporation dan Kuwait Petroleum International, PTT Global Chemical Public Company Limited & Thai Oil (Thailand), dan Rosneft (Rusia).

Pemain minyak dunia itu sempat ambil bagian dalam tender proyek Kilang Tuban, proyek penambahan kapasitas di Kilang Balongan, Kilang Dumai, dan Kilang Cilacap. Selain tujuh perusahaan minyak asing dengan undangan khusus, menurut Iriawan, ada 50 perusahaan dari luar negari dan dalam negeri yang juga terjaring untuk mengikuti lelang proyek Kilang Bontang.

“Yang jelas tujuh perusahaan tadi perusahaan minyak dunia semua, dari luar negeri semua. 50 perusahaan itu mix, ada yang dari luar, ada yang dari dalam [negeri] mulai dari perusahaan trading, investor semua tipe perusahaan di persilahkan," ujarnya di Jakarta, Jumat (24/2).

Pada kesempatan yang sama, Direktur Mega Proyek Kilang dan Petrokimia Pertamina Rachmad Hardadi mengatakan Pertamina mencari calon mitra yang memiliki rekam jejak di usaha pengolahan minyak, khususnya teruji dari sisi operasional dan eksekusi proyek. Selain itu, calon mitra harus dapat menyesuaikan struktur dan model bisnis yang dikehendaki Pertamina, memiliki komitmen untuk melakukan percepatan karena proyek ditargetkan rampung pada 2023, dan memberikan nilai tambah bagi proyek.

Pertamina, menurut Hardadi, berharap agar mitra strategis berperan dalam penyediaan minyak mentah dan pendanaan. Pasalnya, pada tahap awal perseroan hanya akan menguasai saham sebesar 5% hingga 25%. Kriteria lain adalah penguasaan pasar di luar negeri seperti Australia, Papua Nugini, Selandia Baru, dan Filipina. Pasalnya, menurut Hardadi, saat beroperasi 35% pasokan solar Kilang Bontang akan diekspor karena penyerapan yang rendah di dalam negeri. Di sisi lain, untuk proyek lain yang akan dihasilkan seperti gasoline series akan diserap sepenuhnya untuk memenuhi kebutuhan dalam negeri, begitu pula dengan liquefied petroleum gas (LPG) dan petrokimia kendati belum bisa disebutkan berapa volume yang mungkin dihasilkan.

Sebagai gambaran, Hardadi menyebutkan bahwa pada umumnya dari kapasitas total kilang, dihasilkan LPG 7% hingga 10%, gasolin 40%  dan diesel hingga 50%. Bahkan ada excess 55% [produk solar dari Kilang Bontang] yang tidak terserap dalam negeri.”

KAPASITAS PASAR

Kapasitas 300.000 bph di Kilang Bontang merupakan kapasitas dasar yang memungkinkan ditambah. Dengan mempertimbangkan kemampuan pasar, Hardadi menyebut terdapat peluang penambahan hingga mencapai 400.000 bph. Kendati demikian, tambahan kapasitas tak akan berpengaruh signifikan terhadap modal yang harus dikeluarkan. Untuk proyek Kilang Bontang, menurut Hardadi, modalnya sekitar US$3 miliar lebih rendah dari Kilang Tuban yang membutuhkan dana hingga US$ 15 miliar. Hal itu dikarenakan ketersediaan lahan dan infrastruktur pada Kilang Bontang.

Hardadi optimistis proyek dengan rasio pengembalian modal (internal rate of return/IRR) 13 %, kilang tetap bisa memberikan keuntungan ketika harga minyak mulai naik. Saat harga minyak berada di angka US$50-an per barel, katanya, pelaku usaha kilang mengambil keuntungan lebih tinggi. Namun, dia menybut harga minyak saat ini belum menggambarkan harga normal. Harga minyak normal di kisaran US$ 80 per barel hingga US$ 100 per barel diperkirakan terjadi enam sampai tujuh tahun ke depan. Oleh karena itu, katanya, di harga minyak itulah harus dipersiapkan bagi para pemain kilang.

“Kalau pada saat untung, sekarang. Pada saat harga crude normalnya menjadi collapse ya tidak boleh. Jadi kami menghitungnya justru pada saat the worst nanti."

Pengamat energi dad ReforMiner Institute Pri Agung Rakhmanto mengatakan pencarian mitra strategis pembangunan kilang bertumpu pada struktur proyek dan skala ekonomi proyek. Apabila kedua aspek itu telah memenuhi keinginan investor, siapapun akan tertarik untuk menanamkan modal. Jaminan pemerintah dalam beberapa aspek misalnya skema pendanaan dan insentif berupa fasilitas perpajakan, menurut dia, bisa menambah daya tarik proyek di mata pemodal.

Terlebih Iagi, dalam proyek penugasan ini, Pertamina pada tahap awal hanya akan menguasai saham hingga 25%, lebih rendah dari kepemilikan saham di proyek Kilang Tuban dan Kilang Cilacap yang mencapai saham 55%. Mengacu pada pengalaman membangun bersama mitra, beberapa proyek bahkan terputus kemitraannya. 

Bisnis Indonesia, Page-30, Saturday, Feb, 25, 2017