PTTEP Back from East Natuna Block

The East Natuna Block project is becoming increasingly unclear. The latest news, a Thai oil and gas company, PTT EXploration and Production PCL (PTTEP) took a retreat from the East Nantuna Block consortium. Previously, in July 2017, ExxonMobil also resigned from the consortium led by PT Pertamina.

Since it was discovered in 1973, the East Natuna project has not been running yet. The composition of the consortium shares in the East Natuna Block project is constantly changing. In December 2011, for example, Pertamina shares 35%, ExxonMobil 35%, Total E & P 15%, and Petronas 15%. Petronas then stepped down and was replaced by PTTEP.

Then, in 2013 then, Total EP turn back. Then, ExxonMobil in July 2017 also stepped back. And, shortly after ExxonMobil resigned, PTTEP also excused from the East Natuna Block consortium.

General Affair PTTEP Indonesia Asset Afiat Jaya State revealed, it has officially submitted certainty back from the consortium East Natuna Block.

"We have delivered a letter to Pertamina," he said.

PTTEP withdrew because it rated the project uneconomical. Although East Natuna Block reserves can be 226 trillion cubic feet (tcf), but the CO2 content is quite high, reaching up to 72%. If it is produced, the backup will shrink to 46 tcf only.

"Especially with gross split," said Afiat.

In addition, the reason for PTTEP's retreat from East Natuna is because its holding company is facing a lawsuit in Central Jakarta Court related to water pollution in East Nusa Tenggara after the leaking of crude oil from drilling unit in Montara in 2009.

"But we are confident that this case will be completed, once it is completed we will continue the business," he said.

Titi Thongjen, General Manager of PTTEP South Mandar Limited and PTTEP Malunda Limited Indonesia, explained that in the meantime, his side stopped investing in Indonesia although the desire to invest in Indonesia from PTTEP which is Thailand's state-owned company is still very big.

"It does not mean we stop, temporarily hold," he said.

He also explained business potential in Indonesia is still very large. To that end, this company will continue to be in Indonesia. So far, PTEEP still has 11.5% participation rights in Natuna Sea Block A. The South Mandar Block has been returned to the government.

Beyond that, the Malunda Block in West Sulawesi is also still in the process of returning to the government. PTTEP gets two blocks to be returned since 2010.

IN INDONESIA

PTTEP Mundur dari Blok East Natuna

Proyek Blok East Natuna semakin tidak jelas. Kabar terbaru, perusahaan migas asal Thailand, PTT EXploration and Production PCL (PTTEP) ikut mundur dari konsorsium Blok East Nantuna. Sebelumnya, Juli 2017 lalu, ExxonMobil juga mundur dari konsorsium yang dipimpin PT Pertamina itu.

Sejak ditemukan tahun 1973, proyek East Natuna hingga kini belum berjalan. Komposisi saham konsorsium di proyek Blok East Natuna terus berubah. Pada Desember 2011, misalnya, saham Pertamina 35%, ExxonMobil 35%, Total E&P 15%, serta Petronas 15%. Petronas kemudian mundur dan digantikan oleh PTTEP.

Lalu, pada tahun 2013 lalu, giliran Total EP mundur. Kemudian, ExxonMobil pada Juli 2017 juga ikut mundur. Dan, tidak lama setelah ExxonMobil mundur, PTTEP juga pamit dari konsorsium Blok East Natuna tersebut.

General Affair PTTEP Indonesia Asset Afiat Jaya Negara mengungkapkan, pihaknya sudah menyampaikan secara resmi kepastian mundur dari konsorsium Blok East Natuna. 

"Kami sudah sampaikan surat ke Pertamina," katanya.

PTTEP mundur karena menilai proyek tersebut tidak ekonomis. Meskipun cadangan Blok East Natuna bisa sebesar 226 trillion cubicfeet (tcf), tetapi kandungan CO2 cukup tinggi, yaitu hingga mencapai 72%. Jika sampai diproduksi, cadangan akan menyusut hingga 46 tcf saja.

"Apalagi memakai gross split, " ungkap Afiat.

Selain itu, alasan PTTEP mundur dari East Natuna karena induk usaha mereka sedang menghadapi gugatan di Pengadilan Jakarta Pusat terkait pencemaran perairan di Nusa Tenggara Timur pasca bocornya minyak mentah dari unit pengeboran di Montara tahun 2009 silam. 

"Tetapi kami yakin akan selesai kasus ini, begitu selesai kami akan melanjutkan bisnis," katanya.

Titi Thongjen General Manager PTTEP South Mandar Limited and PTTEP Malunda Limited Indonesia, menjelaskan, sementara ini, pihaknya menghentikan investasi di Indonesia meskipun keinginan berinvestasi di Indonesia dari PTTEP yang merupakan BUMN Thailand tersebut masih sangat besar. 

"Tidak berarti kami berhenti, hold sementara," kata dia.

Dia juga menjelaskan, potensi bisnis di Indonesia masih sangat besar. Untuk itu, perusahaan ini masih terus akan berada di Indonesia. Sejauh ini, PTEEP masih memiliki 11,5% hak partisipasi di Natuna Sea Blok A. Adapun Blok Mandar Selatan sudah dikembalikan ke pemerintah. 

Di luar itu, Blok Malunda di Sulawesi Barat juga masih dalam proses pengembalian kepada pemerintah. PTTEP mendapatkan dua blok yang akan dikembalikan tersebut sejak tahun 2010 lalu.

Kontan, Page-14, Wednesday, Jan 10, 2018

Upstream and Upstream Oil and Gas Investment in 2017 Most unattractive

This year the Ministry of Energy and Mineral Resources stipulates oil and gas investment of US $ 17.04 billion

The Ministry of Energy and Mineral Resources (ESDM) recognizes that investment in 2017 is the lowest. The reason is that oil prices are low.

Ego Syahrial 

Executing Tngas (Plt) Director General of Oil and Gas Ego Syahrial discloses upstream oil and gas downstream investment data from 2014 to 2017 which is declining. See, during the year 2014 can record an investment of up to US $ 20.72 billion. Then in 2015, oil and gas investment was recorded at US $ 17.38 billion and in 2016 of 12.74 billion.

However, in 2017, the Ministry of Energy and Mineral Resources recorded the realization of oil and gas sector only US $ 10.17 billion. The figure consists of upstream oil and gas investment of US $ 9.33 billion. The details are investment for activities in the exploitation block of US $ 9.15 billion and investment for exploration block activities is only US $ 180 million.

The rest comes from downstream sector inveslusi in 2017 amounting to US $ 845.58 million. The investment consists of a processing investment of US $ 54.97 million. Transportation of about US $ 4.2 million, storage of US $ 696.44 million, trade of US $ 88.59 million and PT Perusahaan Gas Negara Tbk (PGN) of US $ 1.38 million.

"The lowest point in 2017 is that we are at the lowest oil price, only if we speak outlook 2018, we are planning oil and gas investment of US $ 17.04 billion, returning to 2014-2015 level," Ego said at a press conference on Tuesday 9/1).

The investment comes from upstream oil and gas sector of US $ 14.45 billion. Meanwhile, downstream investment is set at US $ 2.59 billion. Especially in the upstream sector, the government will still rely on investments from a number of major projects upstream oil and gas.

Head of Special Unit for Upstream Oil and Gas Business Activities. (SKK Migas) Amien Sunaryadi explains, there are some projects that are encouraged in 2018. Call it the project of Jambaran Tiung Biru which will be groundbreaking this year.

There is also an investment in additional facilities for increased production from the Cricket Field. This year, the government targets the production from the Cricket Field to reach 600 mmscfd from the current production of 450 mmscfd.

The government also expects investment from Tangguh Train III, prefeed Indonesia Deepwater Development (IDD) field Gendalo and Gehem and prefeed for Masela Block. Finally, the government is targeting additional production investment in Merakes and Donggi Toili Fields.

Meanwhile, in the downstream sector, Head of Downstream Oil and Gas Regulatory Agency (BPH Migas) Fanshurullah Asa said the investment will come from the auction of three gas pipeline segments implemented this year.

The three gas pipelines to be auctioned are the Natuna-West Kalimantan pipeline along 687 kilometers (km), West Kalimantan-Central Kalimantan 1800 km, and Central Kalimantan-South Kalimantan along the 162 km. Investment for Natuna-Kalbar is US $ 555 million, Kalbar-Kalteng US $ 516 million and Center Kalimantan-South Kalimantan US $ 97 million. The total is worth US $ 1.16 billion.

Investments in the downstream sector are also from ongoing gas pipeline projects. There are two gas pipeline projects that will start this year, namely Cirebon-Semarang which is done by Rekayasa Industri (Rekind) and Kalija 2 by PT Bakrie & Brothers Tbk (BNBR). There are also Gresik-Semarang projects targeted for completion this year.

IN INDONESIA

Investasi Hulu dan Hulu Migas di 2017 Paling tidak menarik

Tahun ini Kementerian ESDM menetapkan investasi migas sebesar US$ 17,04 miliar

Kementerian Energi dan Sumber Daya Mineral (ESDM) mengakui bahwa investasi tahun 2017 merupakan yang terendah. Penyebabnya adalah harga minyak terhitung rendah.

Pelaksana Tngas (Plt) Direktur Jenderal Minyak dan Gas Bumi Ego Syahrial mengungkapkan data investasi hulu-hilir migas dari 2014 sampai 2017 yang semakin menurun. Lihat saja, sepanjang tahun 2014 bisa mencatatkan investasi hingga US$ 20,72 miliar. Kemudian pada tahun 2015, investasi migas tercatat sekitar US$ 17,38 miliar dan tahun 2016 sebesar 12,74 miliar.

Namun pada tahun 2017, Kementerian ESDM mencatat realisasi sektor migas hanya US$ 10,17 miliar. Angka tersebut terdiri dari investasi hulu migas sebesar US$ 9,33 miliar. Perinciannya adalah investasi untuk kegiatan di blok eksploitasi sebesar US$ 9,15 miliar dan investasi untuk kegiatan blok eksplorasi hanya US$ 180 juta.

Sisanya berasal dari inveslusi sektor hilir tahun 2017 sebesar US$ 845,58 juta. Investasi tersebut terdiri dari investasi pengolahan sebesar US$ 54,97 juta. Lalu, pengangkutan sekitar US$ 4,2 juta, penyimpanan mencapai US$ 696,44 juta, niaga sebesar US$ 88,59 juta dan PT Perusahaan Gas Negara Tbk (PGN) sebesar US$ 1,38juta. 

"Titik terendah 2017, kita berada harga migas paling rendah. Cuma jika kami bicara outlook 2018, ini kami merencanakan investasi migas sebesar US$ 17,04 miliar, kembali ke level tahun 2014-2015," kata Ego, dalam jumpa pers pada Selasa (9/1).

Investasi tersebut berasal sektor hulu migas sebesar US$ 14,45 miliar. Sedangkan investasi di sektor hilir dipatok sebesar US$ 2,59 miliar. Khusus di sektor hulu, pemerintah masih akan mengandalkan investasi dari sejumlah proyek-proyek besar hulu migas.

Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi. (SKK Migas) Amien Sunaryadi menjelaskan, ada beberapa proyek yang didorong di tahun 2018. Sebutlah proyek Jambaran Tiung Biru yang akan groundbreaking pada tahun ini.

Ada juga investasi penambahan fasilitas untuk peningkatan produksi dari Lapangan Jangkrik. Tahun ini, pemerintah menargetkan produksi dari Lapangan Jangkrik bisa mencapai 600 mmscfd dari produksi saat ini yang sebesar 450 mmscfd.

Pemerintah juga berharap investasi dari Tangguh Train III, prefeed Indonesia Deepwater Development (IDD) lapangan Gendalo dan Gehem dan prefeed untuk Blok Masela. Terakhir, pemerintah menargetkan investasi penambahan produksi di Lapangan Merakes dan Donggi Toili.

Sementara, di sektor hilir, Kepala Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas) Fanshurullah Asa menyebut investasi akan datang berasal dari lelang tiga ruas pipa gas yang dilaksanakan pada tahun ini.

Ketiga ruas pipa gas yang akan dilelang adalah pipa Natuna-Kalimantan Barat sepanjang 687 kilometer (km), Kalimantan Barat-Kalimantan Tengah 1800 km, dan Kalimantan Tengah-Kalimantan Selatan sepanjang 162 km. Investasi untuk Natuna-Kalbar sebesar US$ 555 juta, Kalbar-Kalteng US$ 516 juta, dan Kalteng-KaIsel sebesar US$ 97 juta.  Totalnya senilai US$ 1,16 miliar.

Investasi di sektor hilir juga dari proyek pipa gas yang sedang berjalan. Ada dua proyek pipa gas yang akan mulai pada tahun ini, yaitu Cirebon-Semarang yang dikerjakan oleh Rekayasa Industri (Rekind) dan Kalija 2 oleh PT Bakrie & Brothers Tbk (BNBR). Ada pula proyek Gresik-Semarang yang ditargetkan rampung pada tahun ini.

Kontan, Page-14, Wednesday, Jan 10, 2018

BPH Migas Asks Bakrie to Build Pipe Kalija 2 soon

BPH Migas (BPH Migas) awaits the commitment of PT Bakrie & Brothers Tbk (BNBR) to immediately build gas pipeline Kalimantan-Java (Kalija) 2. This project has been neglected since 11 years ago. Previously Kalija I project also had abandoned. But it was eventually built by PT Perusahaan Gas Negara Tbk (PGN) and BNBR.

Head of BPH Migas Fanshurullah Asa mentioned that his side has several times called the Bakrie & Brothers related to Kalija 2 project. In the talks, Bakrie & Brothers is committed to build Kalija 2 project this year.

"We hope in 2018 can build," said Fanshurullah.

Fanshurullah is determined, BPH Migas will continue to collect BNBR to build the project. If this year the company does not immediately develop Kalija 2 project, BPH Migas will not hesitate to punish Bakrie & Brothers by revoking the permit for Kalija 2 gas pipeline development.

"We charge, we call in. The point this year, later we will provide punisment to BNBR," he said.

IN INDONESIA

BPH Migas Meminta Bakrie Segera Bangun Pipa Kalija 2

Badan Pengawas Hilir Migas (BPH Migas) menanti komitmen PT Bakrie & Brothers Tbk (BNBR) segera membangun pipa gas Kalimantan-Jawa (Kalija) 2. Proyek ini sudah terbengkalai sejak 11 tahun lalu. Sebelumnya proyek Kalija I juga sempat terbengkalai. Tapi akhirnya dibangun oleh PT Perusahaan Gas Negara Tbk (PGN) dan BNBR.

Kepala BPH Migas Fanshurullah Asa menyebutkan, pihaknya telah beberapa kali memanggil pihak Bakrie & Brothers terkait proyek Kalija 2. Dalam pembicaraan tersebut, Bakrie & Brothers berkomitmen membangun proyek Kalija 2 tersebut pada tahun ini. 

"Kami berharap pada tahun 2018 bisa membangun," kata Fanshurullah.

Fanshurullah bertekad, BPH Migas akan terus menagih BNBR membangun proyek tersebut. Jika tahun ini perusahaan tersebut tidak segera membangun proyek Kalija 2, BPH Migas tidak segan-segan menghukum Bakrie & Brothers dengan mencabut izin pembangunan pipa gas Kalija 2.

"Kami tagih, kami memanggil. Intinya tahun ini, nanti kami akan memberikan punisment kepada BNBR," ujarnya.

Kontan, Page-14, Wednesday, Jan 10, 2018

Oil and Gas Reserves Do Not Increase

The upstream sector of Indonesia's oil and gas faces a number of challenges, ie, reserves that do not increase, even less. The age of the aging well and the low investment in the exploration sector are causing the difficulty of oil and gas reserves to increase.

The rate of return of oil and gas reserves in Indonesia is currently accounted for only 60 percent. That is, from 1 barrel of oil sucked, the discovery of new reserves is only 0.6 barrel. Secretary-General of the Ministry of Energy and Mineral Resources Ego Syahrial made the remarks on the performance of the oil and gas sector on Tuesday (9/1) in Jakarta.

"Our Reserve replacement ratio is 60 percent, that is, I admit that the discovery does not add up, it's getting less, we suck up 1 barrel, we find a replacement for only 0.6 barrels," says Ego,

Based on data from the 2016 ESDM Ministry, Indonesia's proven oil reserves amounted to 3.3 billion barrels and natural gas reserves of 1.11 trillion cubic feet. According to Ego, it does not mean oil and gas reserves in Indonesia will soon be exhausted.

Of the 128 hydrocarbon basins in Indonesia, only 45 percent have been explored and carried out the production process. The rest has not been studied. Most of the unexplored basins are located in the deep sea waters of eastern Indonesia.

"This is our job. How to forward the remaining hollows that have not been studied can be dug further. The change of profit sharing scheme from cost recovery to gross split is expected to stimulate upstream oil and gas investment in the country, "said Ego.

Another way to increase oil and gas production is by the advanced oil production method (EOR). However, this method requires a fairly high cost. The EOR method is not economical when oil prices are less than 50 US dollars per barrel.

"In some big fields already implemented EOR. But, the large field in Indonesia can be counted on the fingers, for example, Field Duri (Riau) or Block Cepu (Central Java), "Ego said.

Separately, Chairman of the Indonesian Petroleum Engineering Association Pri Agung Rakhmanto said oil and gas reserves declined due to the age of an aging well. On average, the age of oil and gas wells in Indonesia reaches tens of years. In fact, the replacement of existing oil and gas reserves is derived from blocks already in production, not from the completely new blocks of exploration.

"The way to increase oil and gas reserves is only one, nothing else, that is to increase exploration and implement the EOR method in a massive manner," said Pri Agung.

In the exposure of upstream oil and gas sector performance in 2017 by the Upstream Oil and Gas Upstream Business Unit (SKK Migas), the realization of exploration and production investment was 9.33 billion US dollars (almost Rp 126 trillion). The target set is 12.9 billion US dollars (almost Rp 166 trillion).

Of the total investment, the realization of investment for exploration amounted to Rp 2.4 trillion or only 20 percent of the target set at Rp 11.7 trillion.

Although the oil and gas production target is not reached by 2017, the realization of state revenue from the sector is increasing. From the decree of the Revised State Budget of 2017 which amounted to 12.2 billion US dollars (Rp 164.7 trillion), the realization of state revenues from upstream oil and gas activities throughout 2017 was 13.1 billion US dollars (Rp 176.8 trillion).

Masela Block

The increase of crude oil price in 2017 becomes the main cause of the increase of revenues from upstream oil and gas sector. Masela Block Alluding to the development of the gas field of Masela Block, Maluku, Ego said, so far still in review stage with the Ministry of Industry. The study was devoted to the development of gas pipelines from the Masela Block.

According to the agreement, the gas pipeline to be utilized from the Masela Block is 150 million standard cubic feet per day (MMSCFD). Meanwhile, the capacity of liquefied natural gas produced from the Masela Block is 9.5 million metric tons per year.

"We are waiting for the list of absorbent industries from the Ministry of Industry, whether the fertilizer industry, cement, or outside the power plant," said Ego.

Amien Sunaryadi

Meanwhile, Head of SKK Migas Amien Sunaryadi said that so far there is no buyer or absorber of gas pipeline and Masela Block. According to him, some time ago there was a prospective buyer who bid the price of gas pipeline Masela Block 3 US dollars per MMBTU (million British thermal units). Such a price is not suitable for upstream oil and gas industry of Masela Block

"If they bid 3 US dollars, upstream oil and gas will find buyers themselves. Because, in Bintuni Bay (Tangguh gas), prospective buyers indicate for 5 US dollars, "said Amien.

For comparison, gas price from Jambaran-Tiung Biru gas field in Bojonegoro, East Java, was sold 7.6 US dollars per MMBTU.

IN INDONESIA

Cadangan Migas Tidak Bertambah

Sektor hulu minyak dan gas bumi Indonesia menghadapi sejumlah tantangan, yaitu cadangan yang tidak bertambah, bahkan malah berkurang. Usia sumur yang menua serta rendahnya investasi di sektor eksplorasi menjadi penyebab sulitnya cadangan minyak dan gas bumi bertambah.

Tingkat pengembalian cadangan minyak dan gas bumi di Indonesia saat ini diperhitungkan hanya 60 persen. Artinya, dari 1 barrel minyak yang disedot, penemuan cadangan baru hanya 0,6 barrel. Sekretaris Jenderal Kementerian Energi dan Sumber Daya Mineral Ego Syahrial mengemukakan hal itu pada paparan kinerja sektor minyak dan gas, Selasa (9/1), di Jakarta.

"Reserve replacement ratio (tingkat pengembalian cadangan) kita 60 persen. Artinya, saya akui, bahwa penemuan tidak bertambah banyak, malah makin kurang. Kita menyedot 1 barrel, kita temukan penggantinya hanya 0,6 barrel,” kata Ego,

Berdasar data Kementerian ESDM 2016, cadangan terbukti minyak Indonesia sebanyak 3,3 miliar barrel dan cadangan gas bumi sebanyak l01,2 triliun kaki kubik. Menurut Ego, hal itu tidak berarti cadangan migas di Indonesia akan segera habis.

Dari 128 cekungan hidrokarbon di Indonesia, hanya 45 persen yang sudah dieksplorasi dan dilakukan proses produksi. Selebihnya, belum diteliti. Sebagian besar cekungan yang belum diteliti itu berada di perairan laut dalam bagian timur Indonesia.

”Ini yang menjadi tugas kita. Bagaimana ke depan sisa cekungan yang belum diteliti itu bisa digali lebih jauh. Perubahan kebijakan skema bagi hasil dari cost recovery menjadi gross split diharapkan menggairahkan investasi hulu migas dalam negeri,” ujar Ego.

Cara lain untuk menaikkan produksi migas adalah dengan metode produksi minyak tingkat lanjut (EOR). Namun, cara tersebut membutuhkan biaya yang terbilang tinggi. Metode EOR tidak ekonomis saat harga minyak kurang dari 50 dollar AS per barrel.

”Di beberapa lapangan besar sudah diterapkan EOR. Tapi, lapangan besar di Indonesia bisa dihitung dengan jari, misal Lapangan Duri (Riau) atau Blok Cepu (Jawa Tengah),” kata Ego.

Secara terpisah, Ketua I Ikatan Ahli Teknik Perminyakan Indonesia Pri Agung Rakhmanto mengatakan, cadangan migas menurun karena usia sumur yang menua. Rata-rata, usia sumur migas di Indonesia mencapai puluhan tahun. Bahkan, penggantian cadangan migas yang ada pun berasal dari blok-blok yang sudah berproduksi, bukan dari blok yang benar-benar baru hasil eksplorasi.

”Cara untuk menaikkan cadangan migas hanya satu, tidak ada yang lain, yaitu meningkatkan eksplorasi dan melaksanakan metode EOR secara masif,” ujar Pri Agung.

Dalam paparan kinerja sektor hulu minyak dan gas bumi sepanjang 2017 oleh Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), realisasi investasi eksplorasi dan produksi sebanyak 9,33 miliar dollar AS (hampir Rp 126 triliun). Adapun target yang ditetapkan adalah 12,9 miliar dollar AS (hampir Rp 166 triliun).

Dari total investasi tersebut, realisasi investasi untuk eksplorasi sebesar Rp 2,4 triliun atau hanya 20 persen dari target yang

ditetapkan Rp 11,7 triliun.

Kendati target produksi siap jual (lifting) migas tak tercapai pada tahun 2017, realisasi penerimaan negara dari sektor tersebut meningkat. Dari ketetapan APBN Perubahan 2017 yang sebanyak 12,2 miliar dollar AS (Rp 164,7 triliun), realisasi penerimaan negara dari kegiatan hulu migas sepanjang 2017 adalah 13,1 miliar dollarAS (Rp 176,8 triliun).

Kenaikan harga minyak mentah pada 2017 menjadi penyebab utama meningkatnya penerimaan dari sektor hulu migas tersebut. Blok Masela Menyinggung pengembangan lapangan gas Blok Masela, Maluku, Ego mengatakan, sejauh ini masih dalam tahap pengkajian dengan Kementerian Perindustrian. Kajian itu dikhususkan untuk pengembangan gas pipa dari Blok Masela.

Sesuai kesepakatan, gas pipa yang akan dimanfaatkan dari Blok Masela sebanyak 150 juta standar kaki kubik per hari (MMSCFD). Adapun, kapasitas gas alam cair yang diproduksi dari Blok Masela sebesar 9,5 juta metrik ton per tahun.

”Kami sedang menunggu daftar industri penyerapnya dari Kementerian Perindustrian, apakah industri pupuk, semen, atau di luar pembangkit listrik,” ujar Ego.”

Sementara itu, Kepala SKK Migas Amien Sunaryadi mengatakan, sejauh ini belum ada pembeli atau penyerap gas pipa dan Blok Masela. Menurut dia, beberapa waktu lalu sudah ada calon pembeli yang menawar harga gas pipa Blok Masela 3 dollar AS per MMBTU (juta British thermal unit). Harga sebesar itu belum cocok untuk industri hulu migas Blok Masela

”Kalau mereka menawar 3 dollar AS, hulu migas akan cari pembeli sendiri. Sebab, di Teluk Bintuni (gas Tangguh), calon pembeli mengindikasikan seharga 5 dollar AS,” kata Amien.

Sebagai pembanding, harga gas dari lapangan gas Jambaran-Tiung Biru di Bojonegoro, Jawa Timur, dijual 7,6 dollar AS per MMBTU.

Kompas, Page-17, Wednesday, Jan 10, 2018

Local Government Requested Follow the Main Rules

The polemic of 10% share of Mahakam Block participation by East Kalimantan Provincial Government and Kutai Kartanegara Regency should be completed based on applicable regulation.

After 100% ownership of Mahakam shares was transferred to PT Pertamina (Persero), East Kalimantan Provincial Government and Kutai Kartanegara Regency got a share of participation of 10%.

Ego Syahrial

Implementing Duties of the Director General of Oil and Gas ESDM Ministry Ego Syahrial said that ownership of shares between the provincial government and district governments in the Mahakam block is still a polemic and confusing.

"So, the Kutai Regency feels that the majority of the Mahakam Block Area is in its area so there is a problem in the distribution of shares with the provincial government so that it asks to be made into fifty-fifty [50%: 50%]. In fact, it is clear the rules, then Kutai also requested parts of East Kalimantan Province as well, "he said.

To that end, Ego requested that the local government follow the rules in accordance with the Minister of Energy and Mineral Resources Regulation no. 37/2016 on the Terms of Participating Interest 10% of the Oil and Gas Working Area, in the share division of 10% of the total ownership of Mahakam block, East Kalimantan Provincial Government has 66.5% share, while Kutai 33.5%.

Amien Sunaryadi

Head of SKK Migas Amien Sunaryadi said, according to the rules, the provincial government will regulate the share of the share of participation with the district government. However, if the provincial government difficulties, later can be brought to the Ministry of ESDM.

"Well, if you do not finish, the ESDM Minister will decide directly," he said.

Meanwhile, a subsidiary of PT Pertamina, PT Pertamina Hulu Mahakam, is still looking for partners to work together in the Mahakam Block. SKK Migas releases Pertamina in seeking partners to manage the oil and gas block. This government-owned company has the option to release a maximum of 39% of Mahakam Block's shares to a third party.

the Mahakam Block

Amien explained that in the first phase 100% of Mahakam block shares were given to Pertamina. The second phase, Pertamina gives 10% stake to the local government so that the ownership of the company to 90%. In the third stage, Pertamina has the option to sell Mahakam shares to a third party at a maximum of 39%.

"However, in the third option, it's done business to business only."

The government gives Pertamina a chance to seek partners by removing maximum 39% of Mahakam shares.

IN INDONESIA

Pemerintah Daerah Diminta lkuti Aturan Main

Polemik pembagian 10% saham partisipasi Blok Mahakam oleh Pemerintah Provinsi Kalimantan Timur dan Kabupaten Kutai Kartanegara sebaiknya diselesaikan berdasarkan regulasi yang berlaku.

Setelah kepemilikan 100% saham Mahakam dialihkan ke PT Pertamina (Persero), Pemerintah Provinsi Kalimantan Timur dan Kabupaten Kutai Kartanegara mendapatkan bagian saham partisipasi sebesar 10%.

Pelaksana Tugas Dirjen Minyak dan Gas Bumi Kementerian ESDM Ego Syahrial mengatakan bahwa kepemilikan saham antara pemerintah provinsi dan pemerintah kabupaten di Blok Mahakam memang masih menjadi polemik dan membingungkan.

“Jadi, pihak Kabupaten Kutai merasa mayoritas Wilayah Blok Mahakam ada di kawasannya sehingga ada persoalan dalam pembagian saham dengan pemerintah provinsi sehingga minta dibuat menjadi fifty-fifty [50%:50%]. Padahal, sudah jelas aturannya, lalu Kutai juga meminta bagian dari Provinsi Kalimantan Timur juga,” ujarnya.

Untuk itu, Ego meminta agar pihak pemerintah daerah mengikuti aturan yang berlaku sesuai dengan Peraturan Menteri ESDM No. 37/2016 tentang Ketentuan Penawaran Participating Interest 10% pada Wilayah Kerja Minyak dan Gas Bumi, dalam pembagian bagian saham 10% dari total kepemilikan Blok Mahakam, Pemerintah Provinsi Kalimantan Timur memiliki porsi 66,5%, sedangkan Kutai 33,5%.

Kepala SKK Migas Amien Sunaryadi mengatakan, sesuai dengan aturan, pemerintah provinsi yang akan mengatur pembagian bagian saham partisipasi dengan pemerintah kabupaten. Namun, kalau pemerintah provinsi kesulitan, nanti bisa dibawa ke Kementerian ESDM. 

“Nah, kalau nanti tidak kunjung selesai juga, Menteri ESDM langsung yang akan memutuskan,” ujarnya.

Sementara itu, anak usaha PT Pertamina, PT Pertamina Hulu Mahakam, masih mencari mitra untuk bekerja sama di Blok Mahakam. SKK Migas membebaskan Pertamina dalam mencari mitra untuk mengelola blok migas tersebut. Perusahaan milik pemerintah ini mempunyai opsi melepas maksimal 39 % saham Blok Mahakam kepada pihak ketiga.

Amien menjelaskan, pada tahap pertama 100% saham Blok Mahakam diberikan kepada Pertamina. Tahap kedua, Pertamina memberikan 10% saham ke pemerintah daerah sehingga kepemilikan perseroan menjadi 90%. Pada tahap ketiga, Pertamina memiliki opsi melepas kepemilikan saham Mahakam kepada pihak ketiga maksimum 39%. 

“Namun, dalam opsi ketiga itu dilakukan secara business to business saja.”

Pemerintah memberikan kesempatan Pertamina untuk mencari mitra dengan melepas maksimum saham Mahakam 39%.

Bisnis Indonesia, Page-30, Wednesday, Jan 10, 2018

Total still wants slice of Mahakam pie

GAS-RICH BLOCK

France’s Total E&P Indonesie has submitted a proposal to state-owned energy giant Pertamina to obtain a stake in the gas-rich Mahakam block for a period of three years.

the Mahakam block

     Pertamina, through its subsidiary PT Pertamina Hulu Indonesia (PHI), officially took over Mahakam on Jan. 1, 2018, from Total and Japan’s Inpex Corporation, Which had operated the block since Oct. 6, 1966.

      As mandated by Energy and Mineral Resources Minister Ignasius Jonan, PHI currently controls a 90 percent stake in Mahakam, while the remaining 10 percent has been granted to Kutai Kartanegara regency and East Kalimantan province where the block is located.

Ignasius Jonan

    Jonan also allowed Pertamina to offer 39 percent of its 90 percent stake to any partners, including Mahakam’s previous operators Total and Inpex, based on a business-to-business approach.

  Subsequently Total has submitted the so-called bridging proposal to Pertamina, Which, if approved, will pave the Way for the French company to extend its operations in Mahakam for only a short run.

“It [Total] still Wants to have a stake in Mahakam, but only for three years,” Pertamina president director Elia Massa Manik said on Monday Without disclosing whether Pertamina would approve such a proposal.

The Upstream Oil and Gas Regulatory Special Task Force (SKK-Migas) previously stated that Mahakam’s assets had been Worth $4.79 billion as of December 2015, according to a calculation made by asset valuation firms IHS Vantage and PetroPro.

Nonetheless, the value was projected to depreciate to $3.45 billion by December 2017, especially considering Mahakam’s declining production rate. With this calculation, 39 percent of Mahakam is equal to $1.34 billion.

ln August 2017, the Energy and Mineral Resources Ministry stated it had rejected Totals request for several incentives if it acquired a stake in Mahakam after the block was taken over by Pertamina. The incentives included a reduction in First Tranche Petroleum (FTP) and investment credit. 

Arcandra Tahar

        Deputy Energy and Mineral Resources Minister Arcandra Tahar said several investors had shown an interest in grabbing the 39 percent stake in Mahakam, including the United Arab Emirates-based Mubadala Petroleum.

It is crucial for Pertamina to team up with heavyweight partners to make the most of the mature, depleted Mahakam, Which had proven reserves of 4.9 trillion cubic feet (tcf) of natural gas, 57 million barrels of oil and 45 million barrels of condensate as of 2016.

      Pertamina has set a target to produce 42,010 barrels of oil per day (bopd) and 916 million standard cubic feet per day (mmscfd) of gas from Mahakam in 2018, down from the average of 52,000 bopd and 1,360 mmscfd of gas as of November 2017.

"We can only pluck the fruit from Mahakam long in the future. But now, we need to invest a huge amount of money first in order to maintain the production of the block,” Pertamina’s Elia said.

The Jakarta Post, Page-13, Tuesday, Jan 9, 2018

7 Termination Blocks Use Gross Split

The Government ensures that it will use the scheme of gross split-sharing contracts on seven oil and gas blocks that expire and will be offered to PT Pertamina (Persero).

Meanwhile, the oil and gas block, Central Blok, will still use the net profit sharing scheme (cost recovery) ie refund of oil and gas block operation from the State Budget (APBN).

Meanwhile, in the gross split scheme which entered into force in January 2017 for a new contract, the profit sharing received by the contractor of cooperation contract (KKKS) already covers the cost of production.

In the gross profit sharing scheme, the state no longer needs to return the oil and gas block operation cost from APBN. The Central Block located in East Kalimantan will be combined with the Mahakam Block in its management by Pertamina so that it still uses the cost recovery scheme.

the Mahakam Block

Because the Mahakam Block-sharing contract is still using the cost recovery scheme. The implementer of the task (Plt.) Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Ego Syahrial said that the Central Block still uses the revenue-sharing scheme with the return of operating costs because the management is combined with the Mahakam Block.

Ego Syahrial

"In addition [Central Block], seven other oil and gas blocks that will terminate this year will use the gross split scheme," he said on Monday (8/1).

Currently, the Central Block is operated by Total E & P lndonesie. The oil and gas block contract will expire on October 4, 2018. The eight oil and gas blocks to be terminated consist of the Tuban Block (JOB Pertamina-PetroChina East Java, Ogan Komering Block (JOB Pertamina-Talisman), Sanga-Sanga Block (Vico), Southeast Sumatra Block (CNOOC SES Ltd.), Central Block (Total E & P Indonesia), Attaka Block (Chevron), East Kalimantan Block (Chevron), and North Sumatra Offshore Block (NSO) by Pertamina.

working areas of oil and gas

Of the total eight working areas of oil and gas, four blocks of which will be offered to Pertamina. The four blocks are the Tuban Block, the Southeast Sumatra Block, the Ogan Komering Block, and the Sanga-Sanga Block. Ego said the current transfer of the four blocks to Pertamina is still in process.

"We continue to meet each week, the sooner it gets better."

One of the blocks managed by Pertamina namely, NSO block in Aceh is also planned to be combined with North Sumatra B (NSB) Block. Ego explained, the merger between the NSO Block and NSB only related technical production facilities in the field.

"So, not daring to be combined later on contract with NSB will be gross split as well," he said.

That is, the NSB Block still uses the cost recovery scheme, while the NSO Block with the profit sharing model is dirty.

According to him, previously ESDM requested the privilege, which is the right to bid both times or right to match and also give the opportunity to a foreign contractor, but a fairness also it directly gives NSO Block to Pertamina.

The NSO Block contract expires on October 15, 2018. However, the block is still managed by Pertamina. "The problem so far in terms of sharing facilities is very close," he said.

Ego added it will seek to find the best scheme for state revenue from the oil and gas sector. However, he is reluctant to stress with a gross split scheme that will encourage state revenue to be better than a cost recovery scheme.

State revenue and oil and gas sector in 2017 reached US $ 13.14 billion or 8% higher than the target of APBN-P 2017 worth US $ 12.2 billion. Head of SKK Migas Amien Sunaryadi said that state revenues from the oil and gas sector exceeded the target in line with rising oil prices, especially Indonesia crude price (ICP) which until the end of last year was at US $ 51.19 per barrel or higher than with the target of APBN-P 2017 worth US $ 48 per barrel.

AUCTION ANNOUNCEMENT

The Ministry of Energy and Mineral Resources is targeting the announcement of the oil and gas working area in favor of last year could be done in February 2018. Deputy Minister of Energy and Mineral Resources Arcandra Tahar said it will continue to accelerate tekait with the auction process of oil and gas blocks.

Arcandra Tahar

"I am looking forward to February announcement and signature of the contract in March 2018. I want to speed things up, there is no reason to delay," he said.

Arcandra asserted, there are two main requirements that must be fulfilled by bidders if they want to be elected, namely work plan and budget, and signature bonus.

"The work plan is also a signature bonus [bonus signature] .For the cost we do not see because of the gross split," he said.

As many as 20 bidding documents have been accessed by 15 companies. In the final process, as many as six companies have finally submitted bidding documents for five blocks. In addition to announcing the winners of the auction, earlier this year also the government will again conduct an auction of oil and gas blocks.

Recorded more than 20 oil and gas working areas that are not sold auction since 2015 will be re-auctioned this year. Arcandra said it would lead the evaluation of the auction of the oil and gas block. According to him, conventional oil and gas blocks will be prioritized because non-conventional ones are considered not yet competitive yet.

At the end of last year, out of 10 oil and gas blocks on offer, five blocks were sold. The five blocks are the Andaman Block in favor of Mubadala Petroleum (SE Asia) Ltd, the Merak-Lampung Block is in great demand by Tansri Madjid Energi. In addition, the West Yamdena Block and Pekawai Blocks are in demand by PT Saka Energi Indonesia and the Andaman Block attracted by Repsol Exploration SA, PT Energi Mega Persada Tbk., And Premier Oil Far East Ltd., Mubadala Petroleum and KrisEnergy Consortium.

IN INDONESIA

7 Blok Terminasi Pakai Gross Split

Pemerintah memastikan akan menggunakan skema kontrak bagi hasil kotor atau gross split terhadap tujuh blok minyak dan gas bumi yang habis masa kontraknya dan akan ditawarkan kepada PT Pertamina (Persero).

Sementara itu, salu blok migas, yaitu Blok Tengah, akan tetap menggunakan skema bagi hasil bersih atau cost recovery yaitu pengembalian biaya operasi blok migas dari Anggaran Pendapatan Belanja Negara (APBN).

Sementara itu, dalam skema gross split yang mulai berlaku pada Januari 2017 untuk kontrak baru, bagi hasil yang diterima kontraktor kontrak kerja sama (KKKS) sudah mencakup biaya produksi.

Dalam skema bagi hasil kotor, negara tidak perlu lagi mengembalikan biaya operasi blok migas dari APBN. Blok Tengah yang berlokasi di Kalimantan Timur akan digabung dengan Blok Mahakam dalam pengelolaannya oleh Pertamina sehingga tetap menggunakan skema cost recovery. 

Pasalnya, kontrak bagi hasil Blok Mahakam masih menggunakan skema cost recovery. Pelaksana tugas (Plt.) Dirjen Migas Kementerian Energi dan Sumber Daya Mineral (ESDM) Ego Syahrial mengatakan bahwa Blok Tengah tetap menggunakan skema bagi hasil dengan pengembalian biaya operasi karena pengelolaan digabung dengan Blok Mahakam.

"Selain itu [Blok Tengah], tujuh blok migas lainnya yang akan terminasi pada tahun ini akan menggunakan skema gross split,” ujarnya, Senin (8/1).

Saat ini, Blok Tengah dioperasikan oleh Total E&P lndonesie. Kontrak blok migas itu akan berakhir pada 4 Oktober 2018. Delapan blok migas yang akan terminasi terdiri atas Blok Tuban (JOB Pertamina-PetroChina East Jawa, Blok Ogan Komering (JOB Pertamina-Talisman), Blok Sanga-Sanga (Vico), Blok Southeast Sumatera (CNOOC SES Ltd.), Blok Tengah (Total E&P Indonesia), Blok Attaka (Chevron), Blok East Kalimantan (Chevron), dan Blok North Sumatera Offshore (NSO) oleh Pertamina.

Dari total delapan wilayah kerja migas itu, empat blok di antaranya akan ditawarkan kepada Pertamina. Keempat blok itu adalah Blok Tuban, Blok Southeast Sumatera, Blok Ogan Komering, dan Blok Sanga-Sanga. Ego mengatakan, saat ini pengalihan keempat blok itu kepada Pertamina masih dalam proses. 

“Kami terus bertemu setiap minggu, makin cepat selesai semakin baik.”

Salah satu blok yang dikelola Pertamina yakni, Blok NSO di Aceh juga direncanakan digabung dengan Blok North Sumatera B (NSB). Ego menjelaskan, penggabungan antara Blok NSO dan NSB hanya terkait teknis fasilitas produksi di lapangan.

“Jadi, bukan berani dengan digabung nantinya kontrak dengan NSB akan menjadi gross split juga,” ujarnya.

Artinya, Blok NSB tetap menggunakan skema cost recovery, sedangkan Blok NSO dengan model bagi hasil kotor.

Menurutnya, sebelumnya ESDM meminta adanya hak istimewa, yaitu hak untuk menawar kedua kali atau right to match dan juga memberikan kesempatan kepada kontraktor asing, tetapi sebuah kewajaran juga pihaknya langsung memberikan Blok NSO kepada Pertamina.

Kontrak Blok NSO akan berakhir pada 15 Oktober 2018. Namun, blok itu tetap dikelola oleh Pertamina. “Soalnya sejauh ini dalam hal sharing fasilitas sudah sangat dekat,” ujarnya.

Ego menambahkan, pihaknya akan berupaya untuk mencari skema yang paling baik untuk penerimaan negara dari sektor migas. Namun, dia enggan menekankan dengan skema gross split akan mendorong penerimaan negara bisa lebih baik ketimbang skema recovery cost.

Penerimaan negara dan sektor migas pada 2017 mencapai US$ 13,14 miliar atau lebih tinggi 8% dari target APBN-P 2017 senilai US$ 12,2 miliar. Kepala SKK Migas Amien Sunaryadi mengatakan bahwa penerimaan negara dari sektor migas melampaui target seiring dengan kenaikan harga minyak, terutama minyak mentah Indonesia (lndonesia crude price/ICP) yang sampai akhir tahun lalu berada di level US$ 51,19 per barel atau lebih tinggi dibandingkan dengan target APBN-P 2017 yang senilai US$ 48 per barel.

PENGUMUMAN LELANG

Kementerian ESDM menargetkan pengumuman lelan wilayah kerja migas yang diminati pada tahun lalu bisa dilakukan pada Februari 2018. Wakil Menteri ESDM Arcandra Tahar mengatakan, pihaknya akan terus melakukan percepatan tekait dengan proses lelang blok migas tersebut.

"Saya usahakan Februari pengumuman dan tanda tangan kontrak Maret 2018. Saya ingin mempercepat semuanya. Tidak ada alasan untuk menunda," katanya. 

Arcandra menegaskan, ada dua syarat utama yang harus dipenuhi oleh peserta lelang jika ingin terpilih, yakni rencana kerja dan anggaran, serta bonus tanda tangan.

"Yang dilihat itu work plan [rencana kerja] juga signature bonus [tanda tangan bonus]. Untuk cost tidak kita lihat karena gross split," tuturnya.

Adapun, sebanyak 20 dokumen penawaran telah diakses oleh 15 perusahaan. Dalam proses akhir, sebanyak enam perusahaan akhirnya memasukkan dokumen penawaran untuk lima blok. Selain mengumumkan pemenang lelang, awal tahun ini juga pemerintah akan kembali melakukan lelang blok migas.

Tercatat lebih dari 20 wilayah kerja migas yang tidak laku dilelang sejak 2015 akan dilelang ulang pada tahun ini. Arcandra menyatakan, pihaknya akan memimpin sendiri evaluasi lelang blok migas tersebut. Menurutnya, blok migas konvensional akan diprioritaskan karena yang non-konvensional dianggap masih belum belum kompetitif.

Pada akhir tahun lalu, dari 10 blok migas yang ditawarkan laugsung, ada lima blok yang sudah laku. Kelima blok itu ialah Blok Andaman l diminati Mubadala Petroleum (SE Asia) Ltd, Blok Merak-Lampung diminati oleh Tansri Madjid Energi. Selain itu, Blok West Yamdena dan Blok Pekawai diminati oleh PT Saka Energi Indonesia dan Blok Andaman diminati oleh Repsol Exploration SA, PT Energi Mega Persada Tbk., dan Konsorsium Premier Oil Far East Ltd., Mubadala Petroleum, dan KrisEnergy. 

Bisnis Indonesia, Page-30, Tuesday, Jan 9, 2018