New Contract 8 Block Oil and Gas Accelerated

Transition Working Area

The Government continues to discuss a new contract to eight oil and gas blocks whose contract expires in 2017 and 2018. Eight oil and gas block will use the scheme dirty or gross revenue share split.

Eight working areas namely Tuban Block (JOB Pertamina-Petrochemicals East Java), Block Ogan Ogan (JOB Pertamina-Talisman), Sanga-Sanga (Saka Energy), Block Southeast Sumatra (CNOOC SES Ltd), Block North Sumatra Offshore (Pertamina ), Central Block (Total E & P lndonesie), Block East Kalimantan (Chevron Indonesia Company), and Block Attaka (Chevron).

Currently, eight oil and gas blocks that still use the scheme for the results of operating costs that can be restored or cost recovery. Meanwhile, through a gross revenue share split scheme, the contractors will get the results that cover production costs already incurred.

The government is still discussing clauses in the eight new cooperation contract which is using the split target gross contract could be signed this year. In January 2017, the Minister of Energy and Mineral Resources (ESDM) lgnasius Jonan has determined the fate of the eight areas of work out of contract in 2017 and 2018.

Government commissioned PT Pertamina to manage the eight oil and gas blocks to run out the contract. Director of Upstream Oil and Gas Ministry of Energy and Mineral Resources Tunggal said MEMR still discussing contract clauses new partnership for the eight oil and gas blocks. According to him, the government wants the new contract be signed so that the acquisition activities of oil and gas block management can begin.

Agreement that will be signed using gross production sharing contract. The new contract for eight oil blocks are expected to be signed this year.

Scheme for the results of eight oil and gas block will switch from the scheme operating costs can be refunded (cost recovery) be gross split. Conditions split gross scheme set out in Regulation of the Minister of Energy and Mineral No. 8/2017 on Contracts Gross Split that the economic level of oil and gas field is maintained. "Still under discussion by the team," he said.

PT Pertamina Upstream Director Syamsu Alam said, the transition management of eight oil and gas blocks that can not be started if a new contract was not signed. According to him, Pertamina has no legal support for activities in the block without a new contract. Moreover, some oil and gas blocks of which are managed by another contractor without involving the participation of Pertamina.

Susidiary 

    He added, the faster the signing of a new contract done, activities in transition can be quickly started. He cited the Mahakam block transition can only begin when the new contract was signed in 2015. Exploration and production of oil and gas in the transition period, he said, at least started a year before the contract expires so that the rate of decline in production could be arrested. "Soon it should be for the next year of transition," he said.

Syamsu explained, the new work areas will be managed by a new subsidiary PT Pertamina Hulu Indonesia (PHI). Management of the adjacent working area location such as Block Attaka, Sanga-Sanga, and Block East Kalimantan will be under the management of PHI. It aims to facilitate the coordination of the operational aspects.

IN INDONESIAN

Kontrak Baru 8 Blok Migas Dipercepat

Pemerintah terus membahas kontrak baru terhadap delapan blok minyak dan gas bumi yang kontraknya berakhir pada 2017 dan 2018. Delapan blok migas tersebut akan menggunakan skema bagi hasil kotor atau gross split.

Delapan wilayah kerja tersebut yaitu Blok Tuban (JOB Pertamina-Petrokimia East Java), Blok Ogan Komering (JOB Pertamina-Talisman), Blok Sanga-Sanga (Saka Energi), Blok Southeast Sumatera (CNOOC SES Limited), Blok North Sumatera Offshore (Pertamina), Blok Tengah (Total E&P lndonesie), Blok East Kalimantan (Chevron Indonesia Company), dan Blok Attaka (Chevron).

    Saat ini, delapan blok migas itu masih menggunakan skema bagi hasil biaya operasi yang dapat dikembalikan atau cost recovery. Sementara itu, melalui skema bagi hasil gross split, kontraktor kontrak kerja sama akan mendapatkan bagi hasil yang mencakup biaya produksi yang telah dikeluarkan.

Pemerintah masih membahas klausul dalam delapan kontrak kerja sama baru yakni menggunakan kontrak gross split yang targetnya bisa ditanda tangani tahun ini. Pada Januari 2017, Menteri Energi dan Sumber Daya Mineral (ESDM) lgnasius Jonan telah menetapkan nasib delapan wilayah kerja yang habis masa kontraknya pada 2017 dan 2018.

Pemerintah menugaskan PT Pertamina untuk mengelola delapan blok migas yang segera habis kontrak tersebut. Direktur Pembinaan Usaha Hulu Minyak dan Gas Bumi Kementerian ESDM Tunggal mengatakan, Kementerian ESDM masih membahas klausul kontrak kerja sama yang baru untuk delapan blok migas. Menurutnya, pemerintah menginginkan kontrak baru itu segera diteken sehingga kegiatan akuisisi pengelolaan blok migas bisa mulai dilakukan.

Perjanjian yang akan ditanda tangani tersebut menggunakan kontrak bagi hasil kotor. Kontrak baru untuk delapan blok migas tersebut diharapkan ditanda tangani tahun ini.

Skema bagi hasil delapan blok migas tersebut akan beralih dari skema biaya operasi yang bisa dikembalikan (cost recovery) menjadi gross split. Ketentuan skema gross split tertuang dalam Peraturan Menteri ESDM No. 8/2017 tentang Kontrak Gross Split agar tingkat keekonomian lapangan migas tetap terjaga. “Masih dalam pembahasan oleh tim,” katanya.

Direktur Hulu PT Pertamina Syamsu Alam mengatakan, transisi pengelolaan delapan blok migas itu belum bisa dimulai bila kontrak baru belum ditandatangani. Menurutnya, Pertamina tidak memiliki dukungan secara hukum untuk melakukan kegiatan di blok tersebut tanpa ada kontrak baru. Apalagi beberapa blok migas di antaranya dikelola oleh kontraktor lain tanpa melibatkan partisipasi dari Pertamina.

ANAK USAHA

Dia menambahkan, semakin cepat penandatanganan kontrak baru dilakukan, kegiatan dalam masa transisi bisa cepat dimulai. Dia mencontohkan, transisi Blok Mahakam saja bisa dimulai ketika kontrak baru ditandatangani pada 2015. Kegiatan eksplorasi dan produksi migas pada masa transisi, katanya, paling lambat dimulai setahun sebelum kontrak berakhir agar laju penurunan produksi bisa ditahan. “Secepatnya mestinya karena tahun depan transisi,” katanya.

Syamsu menjelaskan, wilayah kerja yang baru akan dikelola anak usaha baru yakni PT Pertamina Hulu Indonesia (PHI). Pengelolaan wilayah kerja yang berdekatan lokasinya seperti Blok Attaka, Blok Sanga-Sanga, dan Blok East Kalimantan akan berada di bawah pengelolaan PHI. Hal itu bertujuan untuk memudahkan koordinasi dari aspek operasional.

Bisnis Indonesia, Page-30, Wednesday, March, 29, 2017

Medco More Aggressive

Medco Group intensified explore business in oil and gas, mining, and infrastructure since the second half of last year, the business group owned by the tycoon Panigoro family that has spent at least US $ 3.16 billion.

Arifin Panigoro

Most recently, PT Medco Energi Internasional Tbk. (MEDC) to buy a 35% stake in Inpex participation Natuna Limited which manages the South Natuna Block B which is equivalent to the US $ 167 million. 

   Purchases made through PT Medco Power Sentosa that make Medco as the majority shareholder with control of 75% of the shares. The remaining 25% of shares are in the hands of Chevron.

Certainty purchase was delivered directly by Inpex through its official page and MEDC President Director Hilmi Panigoro explanation. The signing of the transactions carried out in Tokyo, Monday (27/3). The process of transfer of shares scheduled to be completed in May 2017. We just signing yesterday. So, there is an additional 35% stake in the South Natuna Block B. [Medco] to 75%, "said Hilmi

the South Natuna Block B

Medco Power Sentosa, which buy shares of Inpex Natuna Limited, was established on November 1, 2016. A total of 99% owned by Medco Energi and the remaining 1% of shares owned by PT Medco Power Abadi Lestari, with total assets of Rp. 550 million.

Page Inpex said after about 40 years of production, earnings and cash flows they are more limited than the block. To optimize the asset portfolio globally, Inpex release all of its shares in Inpex Natuna Limited.

Hilmi Panigoro

Hilmi targets to increase participation rights of ownership could encourage efficient Block B South Natuna. From the range of US $ 13 per Barrel of Oil Equivalent/BOE, he expects production costs down to $ 11 and even below $ 10 per BOE.

Previously, Medco disbursed US $ 2.6 billion for the acquisition of 82.20% stake in PT Newmont Nusa Tenggara (NNT) in June 2016 with funding support from the state-owned banks.

Giving credit worth US $ 360 million which is distributed by PT Bank Mandiri Tbk. Medco to support corporate action today has been entirely withdrawn. "It has drawn full," said Bank Mandiri Corporate Banking SEVP Alexandra Askandar

In addition to loans from Bank Mandiri business group owned by Arifin Panigoro's getting credit from PT Bank Negara Indonesia Tbk. worth US $ 240 million and PT Bank Rakyat Indonesia Tbk. US $ 150 million. In addition to loans for acquisition mine in West Nusa Tenggara, the bank also disbursed loans to Medco for some other projects. There is, but I do not remember the number, "said Alexandra.

Medco corporate action continues in September with a controlled subsidiary of ConocoPhillips holds operator rights and shareholding of 40% participation in Block B South Natuna. The acquisition was worth US $ 240 million. Outside the oil and gas and mining sectors, in January of this year, Medco wins water treatment project in Umbulan, East Java, worth Rp 2.1 trillion, equivalent to US $ 157 million.

SHARE OUTLOOK

Senior Securities Analyst PT Binaanha Parama Reza Priyambada assess the acquisition will provide positive impacts to the stock performance MEDC. Moreover, commodity price projections for this year is relatively better so hopefully can encourage a positive outlook from Medco's future performance.

Reza reveals aggressiveness acquired Medco is quite intense so that there is a problem related to the liability of the company. However, management remains quiet for optimism.

"Liability is quite high, but they are quiet. This means that there is optimism. The Company does not fix DER but to improve their performance, "he said.

Binaartha several times to revise the MEDC stock price forecast of 1,300 to 3,460 range addition to performance enhancements, revisions as well as technical reasons where immediate resistance at that level.

Bisnis Indonesia, Page-1, Wednesday, March 29, 2017

Arcandra: Mackenzie Research Problem Gross Split It Wrong

Ministry of Energy and Mineral Resources (ESDM) did not agree with the results of the analysis of consultants and research institutes in the fields of energy, metals and mining Wood Mackenzie. In KONTAN Daily News March 13, the company said gross split scheme could deter investment in the upstream oil and gas.

Once it appears that analysis, the Deputy Minister Arcandra Tahar Wood Mackenzie discussions with officials last week. The result, says Arcandra, Wood Mackenzie: WRONG ", because it does not include all the advantages contractor cooperation contract (PSC) of the gross split.

He said, the gross profit split not only "ABOUT EFFICIENT", but were able to shorten the time, so it can produce oil and gas PSC earlier. "If you shorten the period of two years to three years, which means more production early. Three years was equal to how much money? If you split it, cost recovery with gross split does not make any difference, "

Arcandra said.

He also cited the preliminary process from end engineering design (pre-FEED). The process of pre-FEED administration can take 8 months to 1.5 years. While the completion of the process of pre-FEED for only 6 months. The government asked for Wood Mackenzie show the correct data. Because Indonesia is already at the cap does not appeal to upstream oil and gas investment. "Show me the data is correct, the reviews will be updated again," said Arcandra. While Ignatius Jonan Minister claim, it does not apply pressure to revise the analysis.

IN INDONESIAN

Arcandra: Riset Mackenzie Soal Gross Split Itu Salah

Kementerian Energi dan Sumber Daya Mineral (ESDM) tidak setuju dengan hasil analisis konsultan dan lembaga riset di bidang energi, logam dan tambang Wood Mackenzie. Dalam berita Harian KONTAN 13 Maret lalu, perusahaan itu menyebutkan, skema gross split bisa menghalangi investasi di hulu migas.

Setelah muncul analisis itu, Wakil Menteri ESDM Arcandra Tahar berdiskusi dengan petinggi Wood Mackenzie pekan lalu. Hasilnya, kata Arcandra, Wood Mackenzie :SALAH", karena tidak memasukkan semua keuntungan kontraktor kontrak kerjasama (KKKS) dari gross split.

Kata dia, keuntungan gross split bukan hanya "TENTANG EFISIEN", tapi mampu mempersingkat waktu, sehingga KKKS bisa memproduksi migas lebih awal. "Kalau mempersingkat waktu dua tahun tiga tahun, artinya produksi lebih

awal. Tiga tahun itu equal dengan uang berapa? Kalau split saja, cost recovery dengan gross split tidak ada bedanya," kata Arcandra.

Ia juga mencontohkan proses preliminary from end engineering design (pre FEED). Proses administrasi pre-FEED bisa membutuhkan waktu 8 bulan hingga 1,5 tahun. Sedangkan proses penyelesain pre-FEED hanya 6 bulan. Pemerintah meminta Wood Mackenzie menunjukkan data yang benar. Pasalnya Indonesia sudah di cap tidak menarik bagi investasi hulu migas. "Tunjukkan data yang benar, review akan diperbarui lagi," kata Arcandra. Sementara Ignasius Jonan Menteri ESDM mengklaim, pihaknya tidak melakukan tekanan untuk merevisi analisis tersebut.

Kontan, Page-14, Monday, March, 27, 2017

Indonesia Oil and Gas Exploration in Eastern Need Incentives

Along with the rapid depletion of oil and natural gas, the government is now intensifying the exploration and production to Eastern Indonesia. Moreover, 80% of oil and gas potential in the region known to have not been explored.

Therefore, according to energy analyst from Reforminer Institute Komaidi Notonegoro, the government should provide incentives to stimulate the interest of investors or cooperation contract (PSC) to not only play in the conventional area. Providing incentives, said is very important, given the development of oil fields in the eastern region overshadowed by a number of challenges, ranging regional characteristics more alien to the deeper ocean.

  The most important how incentives prepared by the government to investors. Actual gross imposition split is also one incentive, "said Komaidi.

IN INDONESIAN

Eksplorasi Migas di Indonesia Timur Butuh Insentif

Seiring dengan menipisnya cadangan minyak dan gas nasional, pemerintah kini gencar mendorong eksplorasi dan produksi ke wilayah Indonesia Timur. Apalagi 80% potensi migas di kawasan tersebut diketahui belum di eksplorasi.

Oleh karena itu, menurut pengamat energi dari Reforminer Institute Komaidi Notonegoro, pemerintah perlu memberikan insentif dalam menggairahkan minat investor atau kontraktor kontrak kerja sama (KKKS) agar tidak hanya bermain di wilayah konvensional. Pemberian insentif, dikatakannya sangat penting, mengingat pengembangan lapangan migas di kawasan timur dibayangi sejumlah tantangan, mulai karakteristik wilayah yang lebih asing hingga lautan yang lebih dalam.

Paling utama bagaimana insentif yang disiapkan pemerintah untuk investor. Sebenarnya pemberlakuan gross split juga menjadi salah satu insentif," kata Komaidi.

Media Indonesia, Page-18, Monday, March, 27, 2017

Open Government Opportunities Change Split ONWJ

The government is ready to accept the proposal of additional demand for the results (split) the Offshore North West Java (ONWJ) of PT Pertamina Hulu Energi. Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said it was still awaiting additional proposed split of Pertamina Hulu Energi. Because, until now Pertamina Hulu Energi has not put the proposal.

"Later, when it was proposed, we see. Currently I'm waiting from Pertamina Hulu Energi, "he said in Jakarta last weekend.

According Arcandra, it could not ensure the split ONWJ will be raised. Moreover, it is working on a new beleid which regulates the unrecovered costs incurred due to the change of the regime's contract cost recovery (investment costs that can be returned) to gross split (for gross proceeds).

However, he said there is the possibility of a split is increased if the project becomes uneconomic. "Wait a minute, (split plus) if it is not economically viable. Ministers Regulation alone is not finished, "said Arcandra.

Earlier, President Director of Pertamina Hulu Energi Mount Sardjono Hadi said it would submit proposed improvements ONWJ split by the end of the first half. Because, when it was still calculating how many additional figures split the right to ensure they are ONWJ still economical.

According to him, there are three factors that were previously not included in the determination of the split ONWJ. Details, their operating costs are not refunded by the government (unrecovered cost) amounted to $ 453 million, the obligation to bear the cost in advance of granting the right of participation (participating interest / PI) to local governments 10%, and the emergence of the burden of Value Added Tax (VAT) after the contract turns into gross split.

Unfortunately, Mount reluctant to specify the exact number of proposed additional split. He also did not want to argue that additional discretionary 5% split in accordance with Article 8 Regulation of the Minister of Energy and Mineral Resources (ESDM) No. 8 of 2017 is sufficient.

IN INDONESIAN

Pemerintah Buka Peluang Ubah Split Blok ONWJ

Pemerintah siap menerima usulan permintaan tambahan bagi hasil (split) Blok Offshore North West Java (ONWJ) dari PT Pertamina Hulu Energi. Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, pihaknya masih menunggu usulan tambahan split dari Pertamina Hulu Energi. Pasalnya, sampai saat ini Pertamina Hulu Energi belum mengajukan usulan tersebut.

“Nanti kalau sudah diusulkan, kami lihat. Saat ini saya sedang menunggu dari Pertamina Hulu Energi,” kata dia di Jakarta, akhir pekan lalu.

Menurut Arcandra, pihaknya tidak dapat memastikan split Blok ONWJ bakal dinaikkan. Apalagi, pihaknya sedang menyusun beleid baru yang mengatur soal unrecovered cost yang timbul akibat pergantian kontrak dari rezim cost recovery (biaya investasi yang dapat dikembalikan) ke gross split (bagi hasil kotor).

Namun, dia menyebut ada kemungkinan split dinaikkan jika memang proyek menjadi tidak ekonomis. “Tunggu dulu, (split ditambah) kalau tidak ekonomis. Peraturan Menterinya saja belum selesai,” kata Arcandra.

Sebelumnya, Presiden Direktur Pertamina Hulu Energi Gunung Sardjono Hadi mengatakan, pihaknya akan menyerahkan usulan perbaikan split Blok ONWJ paling lambat akhir semester pertama. Pasalnya, saat ini pihaknya masih menghitung berapa angka tambahan split yang tepat untuk memastikan pengerjaan Blok ONWJ tetap ekonomis.

Menurutnya, terdapat tiga faktor yang sebelumnya belum dimasukkan dalam penetapan split Blok ONWJ. Rincinya, adanya biaya operasi yang belum dikembalikan oleh pemerintah (unrecovered cost) sebesar US$ 453 juta, kewajiban menanggung biaya terlebih dahulu dari pemberian hak partisipasi (participating interest/PI) ke pemerintah daerah 10%, dan munculnya beban Pajak Pertambahan Nilai (PPN) setelah kontrak berubah menjadi gross split.

Sayangnya, Gunung enggan merinci berapa pastinya tambahan split yang diusulkan. Dia juga tidak ingin menyatakan bahwa diskresi tambahan split 5% sesuai pasal 8 Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) Nomor 8 Tahun 2017 sudah cukup. 

Investor Daily, Page-14, Monday, March, 27, 2017

Inpex State There is a point of Light Masela Project

Inpex Corporation, as the operator in the Masela still doing preliminary front end engineering design (pre-feed) for the progress of the oil and gas projects. In fact, last week the government had already decided, Inpex immediately pre-feed at two locations and two capacities.

Namely, Inpex Mandatory create two scenarios project with a capacity of 9.5 million tonnes per year and a million tons per annum (MTPA) plus 150 million standard cubic feet per day (MMSCFD) and 7.5 MTPA plus 474 MMSCFD. Inpex also must perform a pre-feed for two locations, namely on the island of Aru and yamdena.

Vice President Corporate Service Inpex Corporation, Nico Muhyiddin admitted, decisions Block Masela of the Minister of Energy and Mineral Resources (ESDM) lgnasius Jonan indeed bring a bright spot fate Block Masala project continuation. "It's already started to appear," said Nico.

Even so, it still will negotiate with the government about the decision. "Yes, we are still discussions about the letter to the government, so that later we can give an answer," said Nico.

He also said that discussions with the new government started last week. Jonan themselves hope with this government decision, Inpex could soon run pre-feed. According Jonan, details will be run by SKK Migas. "I have sent a letter," said Jonan.

IN INDONESIAN

Inpex Nyatakan Ada Titik Terang Proyek Masela

Inpex Corporation, selaku operator di Blok Masela masih belum melakukan preliminary front end engineering design (pre feed) demi kemajuan proyek minyak dan gas tersebut. Padahal pekan lalu pemerintah sudah memutuskan, Inpex segera melakukan pre-feed di dua lokasi dan dua kapasitas.

Yakni, Inpex Wajib membuat dua skenario proyek dengan kapasitas 9,5 juta ton per tahun dan million tons per annum (MTPA) plus 150 million standard cubic feet per day (mmscfd) dan 7,5 MTPA plus 474 mmscfd. Inpex juga harus

melakukan pre-feed untuk dua lokasi, yakni di Pulau Aru dan Pulau Yamdena.

Vice President Corporate Service Inpex Corporation, Nico Muhyiddin mengaku, keputusan terkait dengan Blok Masela dari Menteri Energi dan Sumber Daya Mineral (ESDM) lgnasius Jonan memang membawa titik terang

nasib kelanjutan proyek Blok Masala. "Sekarang sudah mulai kelihatan," kata Nico.

Biarpun begitu, pihaknya masih akan berunding dengan pemerintah mengenai keputusan tersebut. "Ya, kami masih diskusi mengenai Surat itu dengan pemerintah, supaya nanti kami bisa memberi jawaban," kata Nico.

Dia juga menyebutkan, diskusi dengan pemerintah baru dimulai pada pekan lalu. Jonan sendiri berharap dengan keputusan pemerintah tersebut, Inpex bisa segera menjalankan pre-feed. Menurut JOnan, detailnya akan dijalankan oleh SKK Migas. "Saya sudah mengirimkan surat," kata Jonan.

Kontan, Page-14, Monday, March, 27, 2017

Mission Fuel Import Free

In 2023, six years from now, PT Pertamina is targeting Indonesia-free import of fuel oil. Reference is Pertamina has completed the construction of two new refinery units and increasing the capacity of four old refineries. It's a gigantic mission worth 35 billion US dollars, or around Rp 455 trillion

Consumption of fuel oil (BBM) is estimated to as much as 2 million barrels per day in 2023. At the same time, when the new refinery project and development of the old refinery is completed, Pertamina refinery production capacity will increase to 2 million barrels per day. Currently, Pertamina refinery production capacity of 800,000 barrels per day, or only half of the fuel needs nationwide reached 1.6 million barrels per day.

In a hearing between Commission VII of the House of Representatives and Pertamina, Thursday (23/3), in Jakarta, Pertamina's ability is questionable, especially in terms of financing. Therefore, projects worth nearly Rp 455 trillion is not possible is borne by Pertamina. It could disrupt the company's equity. Pertamina's annual capital spending "only" 5 billion to 6 billion US dollars, or Rp 65 trillion to Rp 78 trillion.

The new refinery in Tuban, East Java, will cost 13.5 billion US dollars or equivalent to Rp 175 trillion. Meanwhile, a new refinery in Bontang, East Kalimantan, will cost $ 9 billion, or around Rp 117 trillion. Equally capacity of 300,000 barrels per day, the Bontang plant is much cheaper because of standing on land owned by Pertamina. Infrastructure has also been supporting the full range available.

Meanwhile, to increase the capacity and complexity of old refineries (refinery master plan development programs / RDMP Program), Pertamina needs $ 3 billion to 4 billion US dollars, or Rp 39 trillion to Rp 52 trillion per unit of the refinery. There are four refineries are included in the program, namely RDMR Balongan refinery in West Java, refinery Dumai in Riau, Cilacap refinery in Central Java, and East Kalimantan Balikpapan refinery.

Indonesia has long been not build a refinery despite fuel demand more and more from year to year. The refinery was built was the last time Balongan, which began operations in 1994. The former Pertamina president director Dwi Soetjipto once said that Indonesia cowed oil mafia. According to the oil mafia, build refineries, besides being very expensive, uneconomical, finally Indonesia relies on imported fuel and therein arises fraud practice known as the oil mafia.

About to build refineries is not just a matter of energy security in the country. Having refinery to process crude oil into gasoline and other derivative products, also cut slits efficiency fuel imports which have been the seizure of the rentier. In the end, Indonesia just simply import crude oil only.

Back to the point, how to keep the fuel import free mission with the new refinery could be realized? So far, only two interested parties involved in the project, namely Saudi Aramco, the national oil company of Saudi Arabia in the Cilacap refinery RDMP program and Russian national oil company, Rosneft, which became partners Pertamina to build new refineries in Tuban.

Central and local government support was needed to realize the construction of the refinery. This is a vital and strategic projects. At least, ease of licensing and simplification of bureaucracy could be some sort of incentive for Pertamina in completing the project. If necessary the government can be a guarantor when Pertamina needs loans from financial institutions.

The precautionary principle to run the project should also not be overlooked. Do not let the same fate as many infrastructure projects in Indonesia are not neglected and is not finished for years. Nevertheless, of the pleasure is the oil mafia.

IN INDONESIAN

Misi Bebas Impor BBM

Pada 2023 atau enam tahun dari sekarang, PT Pertamina menargetkan Indonesia bebas impor bahan bakar minyak. Acuannya adalah Pertamina telah merampungkan pembangunan dua unit kilang baru dan peningkatan kapasitas empat kilang lama. Ini sebuah misi raksasa senilai 35 miliar dollar AS atau sekitar Rp 455 triliun 

Konsumsi bahan bakar minyak (BBM) nasional diperkirakan sebanyak 2 juta barrel per hari pada 2023. Pada saat yang sama, apabila proyek kilang baru dan pengembangan kilang lama rampung, kapasitas produksi kilang Pertamina akan naik menjadi 2 juta barrel per hari. Saat ini, kapasitas produksi kilang Pertamina 800.000 barrel per hari atau baru setengah dari kebutuhan BBM nasional yang mencapai 1,6 juta barrel per hari.

Dalam rapat dengar pendapat antara Komisi VII DPR dan Pertamina, Kamis (23/3), di Jakarta, kemampuan Pertamina dipertanyakan, terutama dalam hal pembiayaan. Sebab, proyek senilai hampir Rp 455 triliun itu tidak mungkin ditanggung semua oleh Pertamina. Hal itu bisa mengganggu ekuitas perusahaan tersebut. Belanja modal tahunan Pertamina ”hanya” 5 miliar sampai 6 miliar dollar AS atau Rp 65 triliun sampai Rp 78 triliun.

Kilang baru di Tuban, Jawa Timur, membutuhkan biaya 13,5 miliar dollar AS atau setara dengan Rp 175 triliun. Sementara, kilang baru di Bontang, Kalimantan Timur, membutuhkan biaya 9 miliar dollar AS atau sekitar Rp 117 triliun. Sama-sama berkapasitas 300.000 barrel per hari, kilang Bontang jauh lebih murah lantaran berdiri di atas lahan milik Pertamina. lnfrastruktur pendukung lainnya juga sudah lengkap tersedia.

Sementara itu, untuk menambah kapasitas dan kompleksitas kilang lama (refinery development master plan program/RDMP Program), Pertamina membutuhkan 3 miliar dollar AS sampai 4 miliar dollar AS atau Rp 39 triliun sampai Rp 52 triliun per unit kilang. Ada empat kilang yang masuk dalam program RDMR yaitu kilang Balongan di Jawa Barat, kilang Dumai di Riau, kilang Cilacap di Jawa Tengah, dan kilang Balikpapan di Kaltim.

Indonesia memang sudah lama tidak membangun kilang kendati kebutuhan BBM makin banyak dari tahun ke tahun. Kilang yang terakhir kali dibangun adalah Balongan, yakni mulai beroperasi pada 1994. Mantan Direktur Utama Pertamina Dwi Soetjipto pernah berujar bahwa Indonesia ditakut-takuti mafia migas. Menurut para mafia migas, membangun kilang, selain sangat mahal, tidak ekonomis, akhirnya Indonesia bergantung pada impor BBM dan di situlah timbul praktik penyelewengan yang dikenal dengan mafia migas.

Tentang membangun kilang memang bukan hanya urusan ketahanan energi di dalam negeri. Memiliki kilang, untuk mengolah minyak mentah menjadi BBM dan produk turunan lainnya, juga memangkas celah efisiensi impor BBM yang selama ini menjadi rebutan para pemburu rente. Pada akhirnya, Indonesia hanya cukup mengimpor minyak mentah saja.

Kembali pada pokok persoalan, bagaimana agar misi bebas impor BBM dengan kilang baru bisa terwujud? Sejauh ini hanya dua pihak yang berminat terlibat pada proyek itu, yaitu Saudi Aramco, perusahaan migas nasional Arab Saudi dalam program RDMP kilang Cilacap dan perusahaan migas nasional Rusia, Rosneft, yang menjadi mitra Pertamina membangun kilang baru di Tuban. 

Dukungan pemerintah pusat dan daerah mutlak dibutuhkan untuk mewujudkan pembangunan kilang. Ini adalah proyek vital dan strategis. Setidaknya, kemudahan perizinan dan penyederhanaan birokrasi bisa menjadi semacam insentif bagi Pertamina dalam menuntaskan proyek tersebut. Bila perlu pemerintah bisa menjadi penjamin saat Pertamina membutuhkan pinjaman dana dari lembaga pembiayaan.

Prinsip kehati-hatian menjalankan proyek juga tidak boleh diabaikan. Jangan sampai nasibnya sama seperti banyak proyek infrastruktur di Indonesia yang tidak terurus dan tidak tuntas bertahun-tahun lamanya. Meski demikian, tentu yang senang adalah mafia migas.

Kompas, Page-17, Monday, March, 27, 2017

Reset Distribution of Gas

Ministry of Energy and Mineral Resources (MEMR) will reorganize the distribution of natural gas to be cheaper. Gas distribution will be set primarily in the midstream side. Minister of Energy and Mineral Resources said Ignatius Jonan, factor distribution, transportation and regasification are the things that make high gas prices and should be adjusted. 

"At Banca, the pipe 5 km. Im later in the harbor all sorts who charge up to approximately gas dariBontang (hu1u, Red) below USD 6 per mmbtu. Cost midstream, transportation, distribution, and regasification roughly well over USD 5'per mmbtu. It should be adjusted, "he said.

Jonan said the decline in gas prices is one of the government's efforts so that the domestic industry can compete. "If energy is essentially not competitive when compared with other countries, then the industry is not competitive. What's worse, later electricity rates continue to rise," he said.

IN INDONESIAN

Atur Ulang Distribusi Gas 

Kementerian Energi dan Sumber Daya Mineral (Kementerian ESDM) akan mengatur kembali distribusi gas bumi agar harganya lebih murah. Distribusi gas yang akan diatur terutama di sisi midstream. Menteri Energi dan Sumber Daya Mineral Ignasius Jonan menuturkan, faktor distribusi, transportasi, dan regasifikasi merupakan hal-hal yang membuat harga gas tinggi dan harus disesuaikan. 

"Di Banca, pipanya 5 km. Im nanti di pelabuhan macam-macam yang charge sampai kira-kira gasnya dariBontang(hu1u, Red) di bawah USD 6 per mmbtu. Biaya midstream, transportasi, distribusi, dan regasifikasi kira-kira juga lebih dari USD 5‘per mmbtu. Ini harus disesuaikan," ujarnya.

Jonan menyatakan, penurunan harga gas adalah salah satu upaya pemerintah agar industri dalam negeri dapat berkompetisi. "Kalau energi dasarnya tidak kompetitif jika dibandingkan dengan negara lain, nanti industrinya tidak kompetitif. Yang lebih parah, nanti tarif listrik naik terus,” katanya. 

Jawa Pos, Page-6, Monday, March, 27, 2017

Oil Cartel Big Deal

COMMITTEE together energy ministers from OPEC (OPEC) and non-OPEC oil production cuts merekomeridasikan extension for six months. Opec, the cartel of oil-driven Saudi Arabia, and the competitors in Kuwait yesterday met to evaluate global agreement cutting oil supplies.

December last year, eleven members of OPEC and non-OPEC countries, including Russia, agreed to cut production by 1.8 million barrels per day in the first half of this year. Looks Kuwaiti Oil Minister Essam Al Marzouq sandwiched between Russian Energy Minister Alexander Novak and OPEC secretary general Mohammed Sanusi Barkindo speech in Kuwait yesterday.

IN INDONESIAN

Deal Besar Kartel Minyak

KOMITE bersama para menteri energi dari Organisasi Negara-Negara Pengekspor Minyak Bumi (OPEC) dan non-OPEC merekomeridasikan perpanjangan pemangkasan produksi minyak selama enam bulan. Opec, kartel minyak yang disetir Arab Saudi, dan kompetitornya kemarin bertemu di Kuwait untuk mengevaluasi kesepakatan global pemangkasan pasokan minyak. 

Desember tahun lalu anggota OPEC dan sebelas negara non-OPEC, termasuk Rusia, setuju memangkas produksi hingga 1,8 juta barel per hari dalam semester pertama tahun ini. Tampak Menteri Perminyakan Kuwait Essam Al Marzouq yang diapit Menteri Energi Rusia Alexander Novak dan Sekjen OPEC Mohammed Sanusi Barkindo berpidato di Kuwait kemarin. 

Jawa Pos, Page-6, Monday, March, 27, 2017

PSC Procurement Can Do Yourself

If Using Gross Split

Contract gross revenue share split scheme is expected to make the oil industry more attractive. Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan revealed gross scheme split makes KKKS can do in providing system itself and not regulated by the government.

"So, please, I'm sure will speed up the process" said Jonan in Jakarta last weekend. For example, the scheme cost recovery (fees paid by the government), each supply must obtain permission from SKK Migas. "The term is so, like the procurement of oil tank to ask permission to Mr. Amien (Head SKK Migas), still waiting. Then Mr. Amien her go, wait. In fact, the goods have been proposed PSC. I believe the process is long, "he said.

Benefits of gross split scheme is to encourage all the PSC will receive the most efficient concessions. Jonan asserted, to whose jurisdiction has been exhausted, a new cooperation contract must use the gross split Contract gross split using a mechanism for the results of the initial (base split) that can be adjusted based on the variable components and component progressive. 

    Base oil is split to 57 percent of the country and 43 percent of the PSC. For gas, 52 percent of the country and 48 percent for the PSC. If the field does not reach the economic commercialization, Minister may provide an additional percentage of no more than 5 percent to the PSC.

IN INDONESIAN

KKKS Bisa Lakukan Pengadaan Sendiri

Kontrak bagi hasil dengan skema gross split diharapkan bisa membuat industri migas lebih atraktif. Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan mengungkapkan, skema gross split membuat KKKS dapat melakukan sistem pengadaaan sendiri dan tidak diatur pemerintah.

"Jadi, silahkan saja, saya yakin akan mempercepat proses" ujar Jonan di Jakarta akhir pekan lalu. Sebagai contoh, dengan skema cost recovery (biaya ditanggung pemerintah), setiap pengadaan harus mendapat izin dari SKK Migas. ”Istilahnya begini, mau pengadaan tangki oil minta izin kepada Mr. Amien (Kepala SKK Migas), masih menunggu. Lalu Mr. Amien-nya pergi, menunggu. Padahal, barangnya sudah diajukan KKKS. Saya yakin prosesnya lama sekali," katanya.

Manfaat skema gross split adalah mendorong semua KKKS yang akan mendapat konsensi yang paling efisien. Jonan menegaskan, untuk yang wilayah kerjanya sudah habis, kontrak kerja sama yang baru harus menggunakan gross split Kontrak gross split menggunakan mekanisme bagi hasil awal (base split) yang bisa disesuaikan berdasar komponen variabel dan komponen progresif. 

    Base split untuk minyak adalah 57 persen bagian negara dan 43 persen bagian KKKS. Untuk gas, 52 persen bagian negara dan 48 persen untuk KKKS. Jika komersialisasi lapangan tidak mencapai keekonomian, Menteri ESDM dapat memberikan tambahan persentase paling banyak 5 persen kepada KKKS.

Jawa Pos, Page-5, Monday, March, 27, 2017