Pertamina Cooperates with Japan and Oman

DEVELOPMENT OF BONTANG REFINERY

    PT Pertamina (Persero) is partnering with Oman oil company Overseas Oil and Gas LLC (OOG) and trading company from Japan, Cosmo Oil International Pte Ltd (COI) as partner for Bontang refinery development Construction of refinery in Bontang Regency, East Kalimantan, is expected to contribute in the form of additional processing capacity of 300,000 barrels per day (bph) which will produce the main products of gasoline and diesel.

Overseas Oil and Gas LLC (OOG) - Oman

     Pertamina Director of Pertamina Processing and Petrochemical Processing, Ardhy N Mokobombang, said the project value is estimated to reach USD 10 billion or around Rp 130 trillion. According to him, the construction of the Bontang refinery is one of the government's programs to build a new refinery or Grass Root Refinery (GRR) which is implemented in order to realize energy sustainability and independence for Indonesia.

"This consortium was selected after the selection of prospective partners for GRR Bontang project," said Ardhy.

    Ardhy added that the selection process is implemented based on the government's assignment scheme through Decree of the Minister of EMR 7935 K / 10 / MEM / 2016 dated December 9, 2016. The selection process was carried out since January 2017 which was initially followed by around 100 registrants.

"Next, after the initial selection stage, project expose, until the stage of request for information and workshop obtained eight potential potential partners," he said.

    According to Ardhy, the company conveyed the requirements related to the change of business structure of GRR Bontang to the potential partners, ie from the financial side, the company did not participate in funding the project. Pertamina gets more than 10% stake from the project without cost. In addition, Pertamina also submitted changes to the business structure related to fund deposits made by partners.

    Pertamina is also entitled to supply up to 20% of Bontang's GRR crude oil. Pertamina chose OOG as a strategic partner with some consideration among others because it received full support from the Oman government for project financing and supply of crude oil. OOG also has strategic partnerships with COI in terms of technical support and product marketing.

Cosmo Oil International Pte Ltd (COI) - Japan

 

"The construction is expected to provide up to 20,000 jobs during construction and about 1,600 when the refinery is in operation," he said.

    The next step Pertamina and selected partners will sign the framework work agreement followed by a feasibility study (PS) which will be completed by mid 2019, followed by the engineering package (FEED) until the end of2020.

"Bontang refinery is targeted to start operating in 2025," he concluded.

IN INDONESIA

PEMBANGUNAN KILANG BONTANG

Pertamina Gandeng Jepang dan Oman

    PT Pertamina (persero) menggandeng perusahaan minyak asal Oman yakni Overseas Oil and Gas LLC (OOG) dan perusahaan trading berasal dari Jepang, yaitu Cosmo Oil International Pte Ltd (COI) sebagai mitra untuk pembangunan kilang Bontang. 

    Pembangunan kilang di Kabupaten Bontang, Kalimantan Timur, tersebut diharapkan memberikan kontribusi berupa penambahan kapasitas pengolahan sebesar 300.000 barel per hari (bph) yang akan menghasilkan produk utama berupa gasolin dan diesel.

    Direktur Megaproyek Pengolahan dan Petrokimia Pertamina Ardhy N Mokobombang mengatakan, nilai proyek ini diperkirakan mencapai USD 10 miliar atau sekitar Rp 130 triliun. Menurut dia, pembangunan kilang Bontang merupakan salah satu program pemerintah untuk membangun kilang baru atau Grass Root Refinery (GRR) yang dilaksanakan dalam rangka mewujudkan ketahanan dan kemandirian energi untuk Indonesia.

“Konsorsium ini terpilih setelah proses seleksi calon mitra untuk proyek GRR Bontang,” kata Ardhy.

    Ardhy menambahkan, proses pemilihan tersebut dilaksanakan berdasarkan skema penugasan pemerintah melalui Keputusan Menteri ESDM 7935 K/10/MEM/2016 tanggal 9 Desember 2016. Proses seleksi dijalankan sejak Januari 2017 yang pada awalnya diikuti sekitar 100 perusahaan pendaftar.

“Selanjutnya,setelah tahapan seleksi awal, project expose, hingga tahap request for information dan workshop diperoleh delapan calon mitra potensial,” ujarnya.

    Menurut Ardhy, perusahaan menyampaikan persyaratan terkait dengan perubahan struktur bisnis GRR Bontang kepada mitra potensial tersebut, yakni dari sisi finansial perseroan tidak ikut mendanai proyek. Pertamina mendapatkan lebih dari 10% saham dari  proyek tanpa mengeluarkan biaya. Selain itu, Pertamina juga menyampaikan perubahan struktur bisnis terkait dengan deposit dana yang dilakukan oleh mitra.

    Pertamina juga berhak memasok sampai 20% dari minyak mentah GRR Bontang. Pertamina memilih OOG sebagai mitra strategis dengan beberapa pertimbangan antara Iain karena perusahaan itu mendapatkan dukungan penuh dari pemerintah Oman untuk pendanaan proyek dan penyediaan pasokan minyak mentah. OOG juga memiliki kemitraan strategis dengan COI dalam hal dukungan teknis dan pemasaran produk.

"Pembangunannya diperkirakan memberikan lapangan pekerjaan hingga lebih dari 20.000 orang saat proyek pembangunan dan sekitar 1.600 orang saat kilang sudah beroperasi," ucapnya.

    Tahapan selanjutnya Pertamina dan mitra terpilih akan menandatangani frame work agreement yang dilanjutkan dengan feasibility study (PS) yang akan diselesaikan pada pertengahan 2019, dan dilanjutkan dengan penyusunan engineering package (FEED) hingga akhir2020.

“Kilang Bontang ditargetkan dapat mulai beroperasi pada 2025 mendatang," pungkasnya.

Koran Sindo, Page-19, Wednesday, Jan 31, 2018

Working Bontang Refinery, Pertamina Cooperate with Oman and Japan

    PT Pertamina cooperates with Oman Overseas Oil and Gas LLC (OOG) and Cosmo Oil International Pte Ltd (COI) Japan to work on the construction of an oil refinery in Bontang East Kalimantan The Rp 130 trillion refinery project is targeted to operate in 2025.

Overseas Oil and Gas LLC (OOG) -  Oman

 

    Pertamina Pertamina Petrochemical and Pertamina Pertamina Pertamina and Pertamina Directorate Director said that the consortium of Overseas Oil and Gas LLC and Cosmo Oil International was selected from eight potential potential partners who passed the initial selection phase of the project expose until the request for information and workshop. 

    

Cosmo Oil International - Japan

 

   The consortium is considered superior. It will be supported by the Government of Oman for funding and supply of crude oil as well as technical and marketing support and Cosmo Energy Group which is the parent of Oil International.

    The production of Oman crude oil reaches 1-1.2 million barrels per day (bpd). Not only that Overseas Oil and Gas LLC has crude oil entitlement in some Middle East countries.

    Furthermore, Cosmo Energy Group has experience building and operating the Cosmo Oil temporary refinery International is a trading arm.

    In the near future after we announce we will discuss with the consortium. Next there will be a marker hand framework agreement in the near future he said. In contrast to Tuban Refinery, Director of Investment Planning and Risk Management First Gigih Prakoso explained that the company will only hold a 10% shareholding in the early stages of this refinery.

    Furthermore, once the project reaches the final decision stage of investment / FID it will review the matter of ownership of this share. This 10% share is available free of charge.
   
    After our FID review, if more strategic position for us later determined could be more (ownership of shares). It's only 10% to mitigate risk, not that we do not have funding. Pertamina's commitment to this project is huge, "he said.

 
    He explained that the cooperation with OOG-COI Consortium does not have a time limit, but it can adjust the length of cooperation with the lease of land which is the location of Bontang Refinery, which is 30 years with a 20 year extension. Another calculated scheme is BOOT (built own operate transfer) at a certain time the asset may belong to Pertamina or state.

    In addition Pertamina no longer promises to take the entire product and this Bontang Refinery. According to persistent for this project his side will do Joint marketing with partners. Later Pertamina and partners will form a joint venture (JV) that will be responsible for marketing all products produced from the refinery.

    To secure domestic supply, it will sign a sales purchase agreement (SPA) with the JV. If demand (domestic) increased we have the right to increase the volume (purchased) So we can not guarantee specific offtake but take as needed Persistent clear. The rest of the product will be exported to other countries.

    Crude oil supply in which Pertamina is entitled to supply up to 20% and crude oil GRR Bontang Product Offtake where Pertamina does not provide assurance offtake and Pertamina willing to cooperate for Joint Marketing.

Operation 2025

    Ardhy said after the signing of the framework agreement the project will enter the feasibility study (FS) targeted to be completed by mid 2019. After that the project will enter the front end engeneering design (FEED) with completion target by the end of 2020.

    Next the project will enter the FID stage ie whether the project is worth entering the stage of execution. With a construction period of approximately 4-4 5 years the project is targeted to start operations in 2025

    The next step Pertamina and selected partners will sign Frame Work Agreement followed by Feasibility Study (FS) which will be completed by mid 2019 and followed by engineering package (FEED) until the end of 2020.

    Our parallel will also discuss for joint venture agreement. There is more discussion in the matter of stock lifting product arrangements and so on, he explained.

    To design the refinery will be set crude oil processing capacity of 300 thousand bpd. As for the configuration and the products that the refinery has been in will still be discussed with the consortium. Because the type and volume of products produced depends on the type of crude oil to be processed.

    We are likely to direct gasoline and avtur from diesel, because our other refinery projects are already diesel enough so we expect not to have too many penalties to be exported, Ardhy said.

    For the supply of crude oil other than Oman, Pertamina Also has a supply of 20% or about 60 thousand bpd. This is in consideration if there is excessive production of crude oil from oil and gas blocks in East Kalimantan.

    Thus, the crude oil does not need to be shipped to other refineries in Indonesia. As known, Pertamina is working on six refinery projects at once, namely new units as well as capacity and quantity increase from refineries there is.

    Construction of two new refineries in Tuban, East Java and Bontang East Kalimantan and repair of four existing refineries in Balongan West Java Balikpapan East Kalimantan. Dumai, Riau and Cilacap Central Java.

    Pertamina has partnered with Rosneft Oil Company to work on Tuban Refinery and Saudi Aramco to work on Cilacap Refinery. The entire refinery project is targeted for completion by 2020.

    Precisely Balikpapan and Balongan refinery is projected to be completed in 2021, then Cilacap and Tuban Refinery in 2024 and Bontang Refinery and Dumai Refinery in 2021. At that time Pertamina refinery capacity will rise to 2 Million bpd.

IN INDONESIA

INVESTASI RP 130 TRILIUN

Garap Kilang Bontang, Pertamina Gandeng Oman dan Jepang

    PT Pertamina menggandeng perusahaan migas asal Oman Overseas Oil and Gas LLC (OOG) dan Perusahaan Jepang Cosmo Oil lnternational Pte Ltd (COI) untuk mengerjakan pembangunan kilang bahan bakar minyak di Bontang Kalimantan Timur Proyek kilang senilai Rp 130 triliun ini ditargetkan mulai beroperasi pada 2025

    Direktur Megaproyek Pegolahan dan Petrokimia Pertamina Ardhy N Mokobombang mengatakan konsorsium Overseas Oil and Gas LLC dan Cosmos Oil International dipilih dari delapan calon mitra potensial yang lolos tahap seleksi awal project expose hingga request for information dan workshop Konsorsium ini dinilai unggul Iantaran akan didukung Pemerintah Oman untuk pendanaan dan pasokan minyak mentah serta dukungan teknik dan pemasaran dan Cosmo Energy Group yang merupakan induk dari Oil International.

    Produksi minyak mentah Oman disebutnya mencapai 1-1,2 Juta barel per hari (bph).  Tidak hanya ltu Overseas Oil and Gas LLC memiliki entitlement minyak mentah di beberapa negara di Timur Tengah.

    Selanjutnya Cosmo Energy Group mempunyai pengalaman membangun dan mengoperasikan kilang sementara Cosmo Oil International merupakan trading arm.

    Dalam waktu dekat setelah kami umumkan kami akan diskusi dengan konsorsium. Selanjutnya akan ada penandatanganan framework agreement dalam waktu dekat kata dia. Berbeda dengan Kilang Tuban, Direktur Perencanaan Investasl dan Manajemen Resiko Pertama Gigih Prakoso menjelaskan perseroan nantinya hanya akan memegang kepemilikan saham sebesar 10% pada tahap awal pengerjaan kilang ini.

    Selanjutnya begitu proyek mencapai tahap keputusan akhir final investasi/FID pihaknya akan mengkaji kembali soal kepemilikan saham ini. Saham 10% ini diperoleh secara cuma-cuma.

    Setelah FID kami review kembali,  kalau lebih strategis posisinya buat kami nanti ditentukan bisa lebih (kepemilikan sahamnya). Ini hanya 10% untuk memitigasi resiko, bukan kami tidak punya funding. Komitmen Pertamina pada proyek ini cukup besar" katanya.

    Dijelaskannya, kerja sama dengan Konsorsium OOG-COI ini sebenarnya tidak memiliki batas waktu, Namun pihaknya bisa saja menyesuaikan lama kerja sama dengan masa sewa lahan yang menjadi lokasi Kilang Bontang, yakni 30 tahun dengan perpanjangan 20 tahun. Skema lain yang diperhitungkan yakni BOOT (built own operate transfer) pada waktu tertentu aset bisa menjadi milik Pertamina atau negara.

    Selain itu Pertamina tidak lagi menjanjikan akan mengambil seluruh produk dan Kilang Bontang ini. Menurut Gigih untuk proyek ini pihaknya akan melakukan Joint marketing dengan mitra. Nantinya Pertamina dan mitra akan membentuk perusahaan patungan (Joint venture/JV) yang akan bertanggung jawab memasarkan seluruh produk yang dihasilkan dari kilang.

    Untuk mengamankan pasokan dalam negeri, pihaknya akan meneken perjanjian jual beli (sales purchase agreement/SPA) dengan JV tersebut. Kalau demand (dalam negeri) meningkat kami punya hak untuk menambah volume (yang dibeli) Jadi kami tidak menjamin offtake tertentu tetapi mengambil sesuai kebutuhan Jelas Gigih. Sisa produk nantinya akan diekspor ke negara lain.

    Pasokan minyak mentah di mana Pertamina berhak memasok sampai 20% dan minyak mentah GRR Bontang Product Offtake dimana Pertamina tidak memberikan Jaminan offtake serta Pertamina bersedia bekerjasama untuk Joint Marketing.

Operasi 2025

    Ardhy menjelaskan pasca penandatanganan framework agreement proyek akan masuk pada studi kelayakan (feasibility study/FS) yang ditargetkan selesai pada pertengahan 2019. Setelah itu proyek akan masuk tahap desain rinci (front end engneering design/FEED) dengan target penyelesaian pada akhir 2020.

    Berikutnya proyek akan masuk tahap FID yakni apakah proyek layak masuk tahap eksekusi. Dengan masa kontruksi sekitar 4-4 5 tahun proyek ditargetkan mulal operasi pada 2025

    Tahapan selanjutnya Pertamina dan mitra terpilih akan menandatangani Frame Work Agreement yang dilanjutkan dengan Feasibility Study (FS) yang akan diselesaikan pada pertengahan 2019 dan dilanjutkan dengan penyusunan engineering package (FEED) hingga akhir 2020.

    Pararel kami juga akan diskusi untuk joint venture agreement. Di situ diskusi lebih dalam masalah saham pengaturan produk lifting dan sebagainya, jelas dia.

    Untuk desain kilang akan ditetapkan kapasitas pengolahan minyak mentahnya sebesar 300 ribu bph. Sementara untuk konfigurasi dan produk yang di hasillkan kilang masih akan didiskusikan dengan konsorsium. Pasalnya Jenis dan volume produk yang dihasilkan sangat bergantung pada Jenis minyak mentah yang akan diolah.

    Kemungkinan kami arahkan (produksi) gasoline dan avtur daripada diesel, karena dan proyek kilang lain kami sudah cukup banyak diesel sehingga kami harapkan Jangan terlalu banyak kena penalty harus diekspor, kata Ardhy.

    Untuk pasokan minyak mentah selain dari Oman, Pertamina Juga memiliki hak pasok sebesar 20% atau sekitar 60 ribu bph. Hal ini dengan pertimbangan jika ada produksi minyak mentah berlebih dari blok migas perseroan di Kalimantan Timur.

    Sehingga, minyak mentah tersebut tidak perlu dikapalkan ke kilang lain di Indonesia. Seperti diketahui Pertamina mengerjakan enam proyek kilang sekaligus, yaitu unit baru maupun peningkatan kapasitas dan kuantitas dari kilang yang
ada.

    Pembangunan dua unit kilang baru di Tuban, Jawa Timur dan Bontang Kalimantan Timur serta perbaikan empat kilang eksisting yang tersebar di Balongan Jawa Barat Balikpapan Kalimantan Timur. Dumai, Riau serta Cilacap Jawa Tengah.

    Pertamina telah menggandeng Rosneft Oil Company untuk menggarap Kilang Tuban dan Saudi Aramco untuk mengerjakan Kilang Cilacap. Seluruh proyek kilang ini ditargetkan selesai pada 2020.

    Tepatnya Kilang Balikpapan dan Balongan diproyeksikan akan selesai pada 2021, kemudian Kilang Cilacap dan Tuban pada 2024 serta Kilang Bontang dan Kilang Dumai pada 2021. Pada saat itu kapasitas kilang Pertamina akan naik menjadi 2 Juta bph.

Investor Daily, Page-9, Wednesday, Jan 31, 2018

January Oil and Gas Production Still Match Target

    Special Unit for Upstream Oil and Gas Upstream Activities (SKK Migas) seeks to maintain oil and gas production in 2018. The government expects this year's oil and gas production will not fall much from last year's oil and gas production. 

    Head of Program and Communication Division of SKK Migas Wisnu Prabawa Taher, said oil and gas production is still higher than oil and gas lifting target in the State Budget (APBN) 2018.

    Until January 29, 2018, oil and gas production reached 2.15 million barrels of oil equivalent per day (boepd). Special oil production is also still appropriate target oil lifting this year. Wisnu said the current oil production reached 795,000 barrels per day-805,000 bpd.

"We are still seeking to maintain the target of the 2018 state budget," said Vishnu.

   The government is targeting that oil and gas lifting this year is estimated at two million barrels of oil equivalent per day. This oil and gas lifting consists of oil of 800,000.

IN INDONESIA

Produksi Migas Januari Masih Sesuai Target

    Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) berupaya menjaga produksi minyak dan gas (migas) tahun 2018. Pemerintah berharap, produksi migas tahun ini tidak turun jauh dari produksi migas tahun lalu. 

    Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengatakan, produksi migas saat ini masih lebih tinggi dibandingkan target lifting migas dalam Anggaran Pendapatan dan Belanja Negara (APBN) 2018.

    Hingga 29 Januari 2018, produksi migas mencapai 2,15 juta barrel of oil  equivalent per day (boepd). Khusus produksi minyak juga masih sesuai target lifting minyak tahun ini. Wisnu menyatakan, produksi minyak saat ini mencapai 795.000 barel per hari-805.000 bph.

"Kami masih mengupayakan dijaga sesuai target APBN 2018," kata Wisnu.

     Pemerintah menargetkan, lifting minyak dan gas bumi tahun ini diperkirakan sebesar dua juga juta barel setara minyak per hari. Lifting migas ini terdiri dari minyak sebesar 800.000.

Kontan, Page-14, Wednesday, Jan 31, 2018

Pertamina Set Partner Bontang Refinery

    PT Pertamina has made a choice to the consortium of Overseas Oil and Gas LLC in cooperation with Cosmo Oil International Pte Ltd as a prospective partner of the Bontang grass root refinery project.

Overseas Oil and Gas LLC - Oman

    The election of Overseas Oil and Gas LLC is based on several factors that benefit Pertamina. The value of the Bontang refinery project is estimated to reach USD 10 billion or around Rp 130 trillion.
    

 Cosmo Oil International Pte Ltd - Japan

    Vice President of Pertamina Corporate Communication, Adiatma Sardjito said, the reason for the election of Overseas Oil and Gas LLC because the company is supported directly by Oman Government.

Overseas Oil

    In addition, Pertamina has no obligation as an off-taker (buyer). So Pertamina does not need to buy all the products that will be produced by Bontang refinery which will produce gasoline of 300,000 barrels in 2025. 

     Instead Pertamina has the opportunity to sell products produced Bontang Refinery overseas. Moreover, Overseas Oil and Gas LLC took the Cosmo Oil trading company.

"With this partnership Pertamina is not obliged to buy all its products, but Pertamina can gain cooperation to market outside," said Adiatma.

IN INDONESIA

Pertamina Tetapkan Mitra Kilang Bontang

    PT Pertamina menetapkan pilihan kepada konsorsium Overseas Oil and Gas LLC yang bekerjasama dengan Cosmo Oil International Pte Ltd sebagai Calon mitra proyek grass root refinery Bontang.

    Terpilihnya Overseas Oil and Gas LLC berdasarkan beberapa faktor yang menguntungkan Pertamina. Nilai proyek kilang Bontang ini diperkirakan akan mencapai USD 10 miliar atau sekitar Rp 130 triliun.

    Vice Presiden Corporate Communication Pertamina, Adiatma Sardjito menyebutkan, alasan terpilihnya Overseas Oil and Gas LLC karena perusahaan tersebut didukung langsung oleh Pemeritah Oman.

Overseas Oil

    Selain itu, Pertamina tidak memiliki kewajiban sebagai off-taker (pembeli). Sehingga Pertamina tidak perlu membeli semua produk yang nanti dihasilkan oleh kilang Bontang yang akan memproduksi gasolin sebesar 300.000 barel pada tahun 2025. 

    Justru Pertamina memiliki kesempatan untuk menjual produk yang dihasilkan Kilang Bontang ke luar negeri. Apalagi Overseas Oil and Gas LLC menggandeng perusahaan trading Cosmo Oil.

"Dengan kerjasama ini Pertamina tidak wajib membeli semua produknya. Tapi Pertamina dapat keuntungan kerja sama untuk memasarkan di luar," kata Adiatma.

Kontan, Page-14, Wednesday, Jan 31, 2018

Shares in Bontang Plant Only 10 Percent

    PT Pertamina is partnering with oil companies from Oman to build the Bontang refinery project in East Kalimantan (East Kalimantan). The potential partner is Overseas Oil and Gas LLC (OOG), which also cooperates with Cosmo Oil International Pte Ltd (COI) trading company from Japan.

Overseas Oil and Gas LLC (OOG) - Oman

 
    The construction value of the project is estimated at USD 10 billion or around Rp 130 trillion. The construction of the Bontang refinery is a government program to build a new Refinery or grass root refinery (GRR). The goal, Indonesia has the resilience and energy independence.

Cosmo Oil International Pte Ltd (COI) - Japan

     In the partnership, Pertamina does not participate in funding the project. However, Pertamina gets 10 percent of the shares from the project without cost. Director of Investment Planning and Risk Management Pertamina Gigih Prakoso said the 10 percent shareholding is valid before the period before the final investment decision (FID).

"After the FID is complete, we will again review the potential for additional share ownership there."

    That way, it could be after FID, our ownership is above 10 percent, "he said.

    Stock ownership prior to FID can be obtained free of charge alias free. According to Gigih, Pertamina's ownership of the Bontang refinery project is very small. Pertamina also will not have voting rights. However, Pertamina still has the power to ask for products to be sold as the fulfillment of domestic needs alias not for export.

    Director of Pertamina Mega Project and Petrochemical Ardy Mokobombang added that Pertamina has the right to supply up to 20 percent of Bontang's GRR crude oil.

"Pertamina does not provide guarantees offtake and willing to work together for joint marketing," he explained.

    OOG itself received full support from the Oman government for project funding and supply of crude oil. On the other hand, COI is superior in terms of technical support and product marketing.

IN INDONESIA

Saham di Kilang Bontang Hanya 10 Persen

    PT Pertamina menggandeng perusahaan minyak berasal dari Oman dalam membangun proyek kilang Bontang di Kalimantan Timur (Kaltim). Calon mitra tersebut adalah Overseas Oil and Gas LLC (OOG), yang juga menggandeng perusahaan trading Cosmo Oil International Pte Ltd (COI) dari Jepang.

    Nilai pembangunan proyek itu diperkirakan mencapai USD 10 miliar atau sekitar Rp 130 triliun. Pembangunan kilang Bontang merupakan program pemerintah untuk membangun Kilang baru atau grass root refinery (GRR). Tujuannya, Indonesia mempunyai ketahanan dan kemandirian energi.

    Dalam kemitraan itu, Pertamina tidak ikut mendanai proyek. Namun, Pertamina mendapatkan 10 persen saham dari proyek tersebut tampa mengeluarkan biaya. Direktur Perencanaan Investasi dan Manajemen Risiko Pertamina Gigih Prakoso menyatakan, jumlah kepemilikan saham 10 persen berlaku sebelum periode sebelum keputusan akhir investasi atau Final Investment decision (FID). 

"Setelah FID selesai, kami akan kembali mengkaji potensi penambahan kepemilikan saham di sana."

    Dengan begitu, bisa saja setelah FID, kepemilikan kami di atas 10 persen,” ujarnya.

    Kepemilikan saham sebelum FID diupayakan bisa didapatkan secara cuma cuma alias gratis. Menurut Gigih, kepemilikan saham Pertamina pada proyek Kilang Bontang memang sangat kecil. Pertamina pun tidak akan mempunyai hak suara. Namun, Pertamina masih mempunyai power dengan cara meminta produk untuk dijual sebagai pemenuhan kebutuhan dalam negeri alias tidak untuk diekspor.

    Direktur Mega Proyek dan Petrokimia Pertamina Ardy Mokobombang menambahkan, Pertamina berhak memasok sampai 20 persen dari minyak mentah GRR Bontang.

"Pertamina tidak memberikan jaminan offtake serta bersedia bekerja sama untuk joint marketing," paparnya.

    OOG sendiri mendapat dukungan penuh dari pemerintah Oman untuk pendanaan proyek dan penyediaan pasokan minyak mentah. Di sisi lain, COI unggul dalam hal dukungan teknis dan pemasaran produk.

Jawa Pos, Page-5, Wednesday, Jan 31, 2018

Markets Waiting for US Council Meetings

    The weakening world crude oil prices due to the strengthening US dollar is predicted to only have a temporary impact. Market participants tend to wait & see waiting for minutes of the Federal Open Market Committee that took place 30-31 January 2018. In trading Tuesday (30/1) at 16:30 pm, West Texas Intermediate (WTI) oil prices decreased 0.54 points or 0.82 % to US $ 65.02 per barrel on the New York Merchantile Exchange.

    Brent oil prices fell 0.30 points, or 0.43 percent, to $ 69.16 a barrel on the London-based ICE Futures Europe exchange. Year to date, WTI and Brent prices are still up 7% and 3.20% respectively. The world's crude oil prices have been corrected for 2 consecutive days, after breaking the highest position in 3 years above the Ievel of US $ 70 per barrel.

    Monex Investindo Futures analyst Yulia Safrina said the world's crude oil prices had a correction in the last 2 days as triggered by the strengthening of the US currency. However, current positions are still in the high-level range, as supply-limiting efforts by the Organization of Petroleum Exporting Countries (OPEC) and its allies include Russia.

    Oil Minister Umar Al Luaibi said the majority of OPEC members agreed the stock cuts should be maintained until the end of the year. However, with US benchmark oil prices at US $ 65 per barrel, the number of crude oil rig drilling in US fields is also increasing.

"Still associated with dollar trading. The number of rigs becomes another significant thing, production is getting closer and closer to 10 million barrels per day, "said John Macaluso, a trader at Tyche Capital Advisors LLC in New York.

TRUMP EFFECT

    The US dollar index rose 0.28% to 89.35% at the close of trading Monday (29/1), after falling 6 weeks in a row. In trading on Tuesday (30/1), the US dollar continued to rise to touch the level of 8959.

"Technically, the strengthening of the US dollar has pushed world oil prices on the last two trading sessions," said Yulia. It explains that the US dollar is strengthening because of the effects of US President Donald Trump's speech at the World Economic Forum (WEF) in Davos that wants Uncle Sam's currency to remain strong under his leadership.

"Currently market participants tend to wait and see ahead of a wide range of data this week, especially and the Federal Open Market Committee meeting HTOMCI held on 30-31 January 2018."

    Other data being awaited by the market are reports from the American Petroleum Institute and the Energy Information Administration due for release on Wednesday and Thursday of last week on the amount of US shale oil inventories. Non-farm payroll data to be released on Friday is also awaited by the market.

    Nevertheless, Yulia said that the price of oil still has the potential to move positively in line with expectations of market balance over OPEC's efforts to cut production.

"The level of crude oil price support is at US $ 60 per barrel. Resistance level is at the level of US $ 569 per barrel," he said.

    Director of PT Garuda Berjangka Ibrahim said that market participants tend to wait and monitor FOMC data. After that, the price of oil is predicted to strengthen again.

"The price of oil weakened first before then strengthened after the release of FOMC," he said.

    World crude oil prices are projected to strengthen in the quarter l / 2018 reached the level of US $ 67.50 per barrel. If it reaches that level, it will push the gains to the level of US $ 69 per barrel. Douglas Borthwick, Chief Manager of FX at Chapdelaine Foreign Exchange in New York, said market participants felt some uncertainty occurred ahead of the Fed's discovery this week.

"That's the biggest reason why the market sees pressure on crude oil prices, as the function of the correlation reverses against the US dollar," said Bob Yawger, Director of Futures Trading at Mizuho Securities USA Inc. in New York.

IN INDONESIA

Pasar Menanti Rapat Dewan AS

    Pelemahan harga minyak mentah dunia akibat menguatnya dolar AS diprediksi hanya berdampak sementara. Pelaku pasar cenderung wait & see menunggu risalah Federal Open Market Comittee  yang berlangsung 30-31 Januari 2018.  Pada perdagangan Selasa (30/1) pukul 16.30 WIB, harga minyak West Texas Intermediate (WTI) mengalami penurunan 0,54 poin atau 0,82% menjadi US$ 65,02 per barel di New York Merchantile Exchange.

    Adapun, harga minyak Brent melemah 0,30 poin atau 0,43% menuju US$ 69,16 per barel di ICE Futures Europe yangberbasis di London. Secara year to date, harga WTI dan Brent masih tercatat menguat masing-masing 7 38% dan 3,20%. Harga minyak mentah dunia tercatat telah mengalami koreksi selama 2 hari berturut-turut, setelah mampu menembus posisi tertinggi dalam 3 tahun di atas Ievel US$70 per barel.

    Analis Monex Investindo Futures Yulia Safrina menuturkan, harga minyak mentah dunia mengalami koreksi dalam 2 hari terakhir karena dipicu oleh penguatan mata uang AS. Namun, posisi saat ini memang masih berada di kisaran level tinggi, di saat upaya pembatasan pasokan oleh organisasi negara pengekspor minyak (OPEC) dan aliansinya termasuk Rusia.

    Menteri Perminyakan lrak Jabbar Al Luaibi mengatakan mayoritas anggota OPEC sepakat langkah pemangkasan stok harus dijaga sampai akhir tahun. Akan tetapi, dengan harga minyak acuan AS di posisi US$ 65 per barel, jumlah pengeboran rig minyak mentah di ladang AS juga terus meningkat.

“Masih terkait dengan perdagangan dolar. Jumlah rig menjadi hal lain yang signifikan, produksi semakin dekat dan mendekati 10 juta barel per hari," kata John Macaluso, pedagang di Tyche Capital Advisors LLC di New York.

EFEK TRUMP
    Indeks  dolar AS  tercatat naik 0,28% menjadi 89,35% pada penutupan perdagangan Senin (29/1), setelah turun 6 minggu berturut-turut. Pada perdagangan Selasa (30/1), dolar AS melanjutkan kenaikan hingga menyentuh level 8959.

“Secara teknikal memang penguatan dolar AS telah menekan harga minyak memah dunia pada 2 sesi perdagangan terakhir,” kata Yulia. Pihaknya menjelaskan bahwa dolar AS mengalami penguatan karena efek dari pidato Presiden AS Donald Trump dalam Forum Ekonomi Dunia (WEF) di Davos yang menginginkan mata uang Negeri Paman Sam tetap kuat di bawah kepemimpinannya.

“Saat ini pelaku pasar cenderung wait and see menjelang beragam data pada pekan ini, terutama dan pertemuan Federal Open Market Committee HTOMCI yang berlangsung pada 30-31 Januari 2018.”

    Data lain yang sedang ditunggu oleh pasar yakni laporan dari American Petroleum Institute dan Energy Infomation Administration yang akan dirilis pada Rabu dan Kamis pekan lalu, terkait jumlah persediaan minyak shale AS. Data nonfarm payroll yang akan dirilis pada Jumat juga ditunggu oleh pasar.

    Kendati demikian, Yulia menuturkan bahwa harga minyak masih berpotensi bergerak positif seiring dengan ekspektasi keseimbangan pasar atas upaya OPEC dalam memangkas produksi.

“Level support harga minyak mentah berada di US$ 60 per barel Level resistan berada di level US$ 569 per barel” Ujarnya.

    Direktur PT Garuda Berjangka lbrahim nenuturkan pelaku pasar cenderung menunggu dan memantau data FOMC. Selepas itu, harga minyak diprediksi akan menguat kembali.

“Harga minyak mengalami pelemahan terlebih dahulu sebelum kemudian menguat setelah rilis FOMC,” katanya.

    Harga minyak mentah dunia diproyeksi akan menguat pada kuartal l/2018 mencapai level US$67,50 per barel. Apabila mencapai level itu, akan mendorong penguatan ke level US$ 69 per barel. Douglas Borthwick, Manajer Kepala FX di Chapdelaine Foreign Exchange di New York menuturkan, pelaku pasar merasa beberapa ketidakpastian terjadi menjelang penemuan The Fed pada pekan ini. 

“ltulah alasan terbesar mengapa pasar melihat tekanan pada Harga minyak mentah, terkait fungsi dari korelasi berbalik terhadap dolar AS," kata Bob Yawger, Direktur Perdagangan Berjangka di Mizuho Securities USA lnc. di New York.

Bisnis Indonesia, Page-16, Wednesday, Jan 31, 2018

Gas Price Will Be More Rational

    The Ministry of Energy and Mineral Resources will apply rational gas prices to industrial interests and benefit all stakeholders. ESDM Minister Ignatius Jonan said the industrial gas price economy will be formed if all parties, including the user industry, make efficiency and careful cost calculations, especially distribution costs.

"Later I will set the price of gas to be rational," he said in London in order to visit England and Italy.

Jobi Triananda Hasjim

     Meanwhile, President Director of PT Perusahaan Gas Negara (Persero) Tbk. Jobi Triananda Hasjim said the company is still working to maintain supply for a number of user industries, especially in North Sumatra, which in recent years continue to question the price of expensive gas.

    Previously in Jakarta, Vice Minister and Mineral Resources (ESDM) Arcandra Tahar said the government continues to seek the best option in reducing the price of industrial gas economy to US $ 6 per MMBtu in accordance with the mandate of Presidential Regulation no. 40/2016 on Natural Gas Pricing.

    One of them is by reducing the state revenue and gas sector so that the gas industry can get competitive competitive gas price and grow optimally. However, Arcandra Tahar said the plan is still being drafted and awaiting decisions under the Minister of Finance.

"The Finance Minister said that this effect will be eliminated, because the state revenue will decrease as well, we will wait for it from Finance Minister Sri Mulyani," explained Arcandra.

    This consideration considering the impact of the abolition of non-tax state revenue (PNBP) from natural gas has no significant effect on the decline of industrial gas prices in accordance with Presidential Regulation no. 40/2016.

"It could be less US $ 0.7 per MMBtu, some US $ 0.3, and the effect is less than US $ 6 per MMBtu," said Arcandra.

    In fact, if this is done, the potential revenue of the country could be reduced to US $ 4.3 million. "We have calculated, the amount of PNBP loss of about US $ 4.3 million," said Arcandra.

    The abolition of non-tax revenues is still considered to be the best option to keep evaluating compared to price cuts in upstream oil and gas. Moreover, rising world oil prices also rose to other considerations.

    On a separate occasion, Komaidi Notonegoro Executive Director of ReforMiner Institute, said the impact of licensing cuts by the Ministry of Energy and Mineral Resources could lower downstream gas prices in the industry. However, the impact will not be too great.

"The problem of gas price formation in the industry is that there is a factor in the downstream sector and limited infrastructure," he said.

    Komaidi said, the price of upstream gas in Indonesia is quite competitive in Southeast Asia.

"However, this step of the EMR Ministry is one of the positive steps to form a more efficient gas industry," he said.

INDUSTRIAL TEAM

    Previously, President Joko Widodo was asked to step in to enforce Presidential Regulation no. 40/2016 on Natural Gas Pricing. Chairman of the Forum of Natural Gas User Industry (FIPGB) Achmad Safiun said the Regulation of the Minister of Energy and Mineral Resources of ESDM no. 58/2017 which regulates the price of gas through pipes contrary to the above rule namely the Presidential Regulation.
      For that, it asks President Joko Widodo back to intervene so the industry can survive in the middle of a very competitive competition. He said in the derivative rule of the Minister of EMR, the gas price for the industry is unlikely to fall in accordance with the Presidential Regulation. The reason, in addition to gas prices in the upstream, the rule also sets the cost of commerce, transmission costs, and production costs.

 
IN INDONESIA

Harga Gas Akan Lebih Rasional

    Kementerian Energi dan Sumber Daya Mineral akan menerapkan harga gas yang rasional untuk kepentingan industri dan memberi keuntungan untuk semua pemangku kepentingan. Menteri ESDM Ignasius Jonan mengatakan harga keekonomian gas industri akan terbentuk jika semua pihak, termasuk industri pengguna, melakukan efisiensi dan perhitungan biaya yang cermat, terutama biaya distribusi.

“Nanti akan saya tetapkan harga gas harus rasional," katanya di London dalam rangka kunjungan ke Inggris dan italia.

     Sementara itu, Direktur Utama PT Perusahaan Gas Negara (Persero) Tbk. Jobi Triananda Hasjim menyebutkan pihaknya tetap berupaya menjaga pasokan untuk sejumlah industri pengguna, terutama di Sumatra Utara yang dalam beberapa tahun terakhir terus mempersoalkan harga gas yang mahal.

    Sebelumnya di Jakarta, Wakil Menteri dan Sumber Daya Mineral (ESDM) Arcandra Tahar menyebutkan pemerintah terus mencari opsi terbaik dalam menekan harga keekonomian gas industri menjadi sebesar US$ 6 per MMBtu sesuai dengan amanat Peraturan Presiden No. 40/2016 tentang Penetapan Harga Gas Bumi.

    Salah satunya melalui pengurangan bagian penerimaan negara dan gas bumi agar industri gas bisa mendapat harga gas yang bersaing kompetitif dan tumbuh optimal. Meski begitu, Arcandra Tahar menyatakan rencana tersebut masih terus dirancang dan menunggu keputusan di bawah Menteri Keuangan.

"Menteri Keuangan bilang ini efeknya berapa kalau dihilangkan, karena pendapatan negara berkurang juga. Kita tunggu dari Menteri Keuangan Sri Mulyani," jelas Arcandra.

    Pertimbangan ini mengingat dampak penghapusan penerimaan negara bukan pajak (PNBP) dari gas bumi tidak berpengaruh secara signifikan terhadap penurunan harga gas industri sesuai Peraturan Presiden No. 40/2016.

"Bisa kurang US$ 0,7 per MMBtu, ada yang US$ 0,3. Kecil sekali efeknya. Itu pun tidak di bawah US$ 6 per MMBtu jadinya," kata Arcandra.

    Bahkan, Apabila hal ini tetap dilakukan, potensi pendapatan negara bisa berkurang hingga US$4,3 juta. "Kami sudah menghitung, jumlah kehilangan PNBP sekitar US$4,3 juta,“ ujar Arcandra.

    Penghapusan PNBP dipandang masih menjadi pilihan terbaik asambil tetap melakukan evaluasi dibandingkan dengan pemangkasan harga di hulu migas. Apalagi harga minyak dunia yang terus meningkat naik juga menjadi pertimbangan lain.

    Pada kesempatan terpisah, Komaidi Notonegoro Direktur Eksekutif ReforMiner Institute, mengatakan, dampak dari pemotongan perizinan oleh Kementerian Energi dan Sumber Daya Mineral bisa menurunkan harga gas hilir di industri. Namun, dampaknya tidak akan terlalu besar.

"Masalah pembentuk harga gas di industri itu ada faktor di sektor hilir dan keterbatasan infrastruktur,“ ujarnya.

Komaidi menuturkan, harga gas hulu di Indonesia sudah cukup kompetitif di kawasan Asia Tenggara.

"Namun, langkah kementerian ESDM ini adalah salah satu langkah positif untuk membentuk industri gas yang lebih efisien," tuturnya.

DESAKAN INDUSTRI

    Sebelumnya, Presiden Joko Widodo diminta untuk turun tangan menegakkan Peraturan Presiden No. 40/2016 tentang Penetapan Harga Gas Bumi. Ketua Forum Industri Pengguna Gas Bumi (FIPGB) Achmad Safiun menuturkan Peraturan Menteri Energi dan Sumber Daya Mineral ESDM No. 58/2017 yang mengatur harga gas Bumi melalui pipa bertentangan dengan aturan di atasnya yakni Peraturan Presiden.

    Untuk itu, pihaknya meminta Presiden Joko Widodo kembali turun tangan agar industri dapat bertahan di tengah persaingan yang sangat kompetitif. Dia mengatakan dalam aturan turunan dari Menteri ESDM, harga gas bagi industri tidak mungkin turun sesuai dengan Peraturan Presiden. Pasalnya, selain harga gas di hulu, aturan itu juga menetapkan adanya biaya niaga, biaya transmisi, dan biaya produksi.

Bisnis Indonesia, Page-25, Wednesday, Jan 31, 2018

Bontang Refinery Fell to OGG & Cosmo

    Overseos Oil & Gas LCC, Omani oil company, and Cosmo Oil International Pte. Ltd., an oil company from Japan will work on the Bontang refinery project with up to 90% share. Meanwhile, PT Pertamina (Persero) assigned to work on an oil refinery project in Bontang, East Kalimantan has only 10% share.

Overseos Oil & Gas LCC Oman

     The refinery with a capacity of 300,000 barrels per day is projected to require an investment of US $ 10 billion or Rp 130 trillion. Pertamina chose Overseas Oil & Gas LCC (OGG) and Cosmo Oil International Pte. Ltd. in building a refinery targeted to start operating in 2025.

Cosmo Oil International Pte. Ltd. Japan

    The construction of Bontang refinery is one of the government programs to realize energy sustainability and independence. The selection process runs since January 2017 which was initially followed by about 100 registrants. Furthermore, after the initial selection stage obtained eight potential potential partners.

    In the Bontang refinery project, Pertamina does not participate in financing the project, but Pertamina earns 10% of its shares without cost. From the process, there are two potential potential partners who convey their ability. Pertamina chose Overseas Oil as a strategic partner with several considerations.

    Overseas Oil OOG gets full support from the Oman government for project funding and supply of crude oil, and has a strategic partnership with Cosmo Oil in terms of technical support and product marketing. The construction of the refinery in Bontang District, East Kalimantan will be continued with the signing of a framework by Pertamina and the two partners.

    The next phase, Pertamina and the two companies undertook a feasibility study to be completed by mid 2019. Director of Mega Processing and Petrochemical Processing Center Ardhy N. Mokobombang said that the company has decided the two companies to become partners in the construction of the Bontang refinery.
"Later Pertamina with OGG [Overseas Oil gl Gas], a company from Oman and Cosmo of the Japanese company will form a joint venture. Pertamina will also have a share of 10% in the joint venture, "said Ardhy.

     Crude oil for Bontang refinery needs will be supplied from Oman, while Pertamina has the right to supply crude to the refinery up to 20%. Ardhy said, Pertamina decided the two companies or consortium as a partner because there are several considerations. First, the financial side will get support from the Oman government. Second, marketing will be supported by Cosmo Oil through its Singapore-based company.

"They [the two consortiums] were selected from a total of eight existing companies at the selection stage of becoming our partners."



MINORITY STOCK

    Gigih Prakoso explained that the company only participates 10% in the formation of joint ventures with Overseas Oil & Gas LCC and Cosmo Oil International Pte. Ltd. However, the 10% ownership amount is for the period before the final investment decision [FID], "

    After the FID [final investment decision is finalized, we will again review the potential for additional ownership of the shares there, so it could be after our ownership FID is above 10%. Meanwhile, ownership of shares before our FID can be obtained free of charge alias free, "he said.

    Persistent to say, with only 10% ownership does not mean Pertamina can not control the joint venture.

"If the general corporation is indeed our position does not have a voice, but here (Bontang Refinery) we have a commitment to take products for national resilience," he said.

    He said the company also has a commitment with consortium partners if domestic demand is so large that it requires products from Bontang Refinery. Means that the production will be focused on domestic needs. Pertamina in cooperation with Oman and Japan company has no time limit.

    However, the land used as the refinery's location has a 30-year deadline with an additional option of 20 years for using government-owned land. Bontang refinery will prioritize to produce gasolin series (Premium, Pertalite, & and Pertamax), while the portion of diesel series will be smaller. This is in line with the demand for fuel gasoline type is still high.

 IN INDONESIA

Kilang Bontang Jatuh ke OGG & Cosmo

    Overseos Oil & Gas LCC, perusahaan minyak dari negara Oman, dan Cosmo Oil International Pte. Ltd., perusahaan minyak dari Jepang akan menggarap proyek kilang Bontang dengan bagian saham hingga 90%. Sementara itu, PT Pertamina (Persero) yang ditugaskan mengerjakan proyek kilang minyak di Bontang, Kalimantan Timur itu hanya memiliki bagian 10%.

Kilang dengan kapasitas 300.000 barel per hari itu diproyeksikan membutuhkan investasi US$10 miliar atau Rp 130 triliun. Pertamina memilih Overseas Oil & Gas LCC (OGG) dan Cosmo Oil International Pte. Ltd. dalam membangun kilang yang ditargetkan mulai beroperasi pada 2025.

    Pembangunan Kilang Bontang merupakan salah satu program pemerintah untuk mewujudkan ketahanan dan kemandirian energi. Proses seleksi dijalankan sejak Januari 2017 yang pada awalnya diikuti oleh sekitar 100 perusahaan pendaftar. Selanjutnya, setelah tahapan seleksi awal diperoleh delapan calon mitra potensial.

    Dalam proyek Kilang Bontang, Pertamina tidak ikut mendanai proyek, tetapi Pertamina mendapatkan saham 10% tanpa mengeluarkan biaya. Dari proses tersebut, ada dua calon mitra potensial  yang menyampaikan kesanggupannya. Pertamina memilih Overseas Oil sebagai mitra strategis dengan beberapa pertimbangan.

    Overseas Oil OOG mendapatkan dukungan penuh dari pemerintah Oman untuk pendanaan proyek dan penyediaan pasokan minyak mentah, serta memiliki kemitraan strategis dengan Cosmo Oil dalam hal dukungan teknis dan pemasaran produk. Pembangunan kilang di Kabupaten Bontang, Kalimantan Timur akan dilanjutkan dengan penandatanganan kerangka kerja oleh Pertamina dan dua mitra tersebut.

    Tahap selanjutnya, Pertamina dan dua perusahaan itu  melakukan studi kelayakan yang akan diselesaikan pada pertengahan 2019. Direktur Megaproyek Pengolahan dan Petrokimia Ardhy N. Mokobombang mengatakan bahwa perseroan telah memutuskan dua perusahaan itu  untuk menjadi  mitra dalam pembangunan kilang Bontang.

“Nantinya Pertamina bersama OGG [Overseas Oil gl Gas], perusahaan asal Oman dan Cosmo perusahaan asal Jepang itu akan membentuk perusahaan patungan. Pertamina pun akan memiliki bagian saham 10% dalam perusahaan patungan tersebut,” kata Ardhy.

    Minyak mentah untuk kebutuhan Kilang Bontang akan dipasok dari Oman, sedangkan Pertamina memiliki hak memasok minyak mentah ke kilang itu sampai 20%. Ardhy menuturkan, Pertamina memutuskan dua perusahaan atau konsorsium itu sebagai mitra karena ada beberapa pertimbangan. Pertama, sisi finansial akan mendapatkan dukungan dari pemerintah Oman. Kedua, pemasaran akan didukung oleh Cosmo Oil lewat perusahaannya yang ada di Singapura.

“Mereka [dua konsorsium] itu terpilih dari total delapan perusahaan yang ada pada tahap seleksi menjadi mitra kami.” 


SAHAM MINORITAS

    Gigih Prakoso menjelaskan, perseroan hanya berpartisipasi sebesar 10% dalam pembentukan perusahaan patungan bersama Overseas Oil & Gas LCC dan Cosmo Oil International Pte. Ltd. Namun, jumlah kepemilikan 10% itu untuk periode sebelum keputusan final investasi [FID],“

    Setelah FID [final investment decision/keputusan final investasi selesai, kami pun akan kembali mengkaji potensi penambahan  kepemilikan saham  di sana, dengan begitu bisa saja setelah FID  kepemilikan kami diatas 10%. Adapun, kepemilikan saham sebelum FID kami upayakan bisa didapatkan secara cuma-cuma alias gratis,” ujarnya.

    Gigih menuturkan, dengan hanya kepemilikan sebesar 10 % bukan berarti Pertamina tidak bisa mengendalikan perusahaan patungan tersebut.

“Kalau secara korporasi umum memang posisi kami tidak punya suara, tetapi di sini (Kilang Bontang) kami punya komitmen mengambil produk untuk ketahanan nasional,” tuturnya.

    Dia menuturkan, perseroan juga punya komitmen dengan mitra konsorsium kalau permintaan dalam negeri sangat besar sehingga membutuhkan produk dari Kilang Bontang. Berarti hasil produksi akan difokuskan untuk kebutuhan domestik. Pertamina bekerja sama dengan perusahaan Oman dan Jepang itu tidak memiliki batas waktu.

    Namun, lahan yang dijadikan lokasi kilang ini memiliki batas waktu 30 tahun dengan opsi tambahan 20 tahun karena menggunakan lahan milik pemerintah. Kilang Bontang akan memprioritaskan untuk memproduksi seri gasolin (Premium, Pertalite, & dan Pertamax), sedangkan porsi seri diesel akan lebih kecil. Hal itu seiring dengan permintaan bahan bakar minyak jenis gasolin masih tinggi.

Bisnis Indonesia, Page-30, Wednesday, Jan 31, 2018

Pertamina Boost Upstream Oil and Gas Investment

    The development of the Mahakam block has become one of Pertamina's priorities. PT Pertamina (Persero) raised its capital expenditure budget by 55 percent to 5.59 billion dollars this year. The budget is prioritized for upstream oil and gas investment.

Elia Massa Manik

     Pertamina President Director Elia Massa Manik said that Pertamina's capital expenditure in 2017 amounted to 3.6 billion US dollars. A total of 2.5 billion US dollars spent on upstream oil and gas investment. This year, the budget for investment in upstream oil and gas sector has 59 percent share. The rest, 15 percent for megaprojects, five percent gas sector investment, three percent processing, and other supporting research about three percent.

    Elia said there are several future investment plans that require greater capital expenditure than 2017.

"For the development of investment plans in the upstream sector, we will develop the Jimbaran Tiung Biru Field, manage the Mahakam block, and geothermal development," Elia said at the Parliament Complex in Senayan, Jakarta.

the Mahakam block

     In addition, Pertamina will undertake petrochemical and processing development, such as increased refinery crude flexibility, and the development of derivative products. In the marketing sector, Pertamina will strengthen its distribution and pipeline development infrastructure and gas network.

    Last year, Pertamina posted revenue of 42.86 US dollars. When compared to 2016, this amount of income rose by 17 percent. Although revenues rose, Pertamina's net profit fell by 24 percent compared to 2016. He revealed that Pertamina posted a profit of 2.7 billion US dollars in 2017.

    Pertamina's net profit was eroded because there was no policy on price adjustment of Premium and diesel fuel, while world crude oil price continued to rise.

"This affects the company's net profit decline," Elijah said.

    Pertamina still has receivables amounting to Rp 25 trillion from the government. The government owed Pertamina for fuel subsidies and three kilograms of LPG. Of the total debt of Rp 25 trillion, as much as Rp 22 trillion is overdue debts from 2016 and in previous years. Meanwhile, this year, the government owes Pertamina Rp 3 trillion.

    Elia added that if this government debt can be resolved soon, Pertamina can use it to increase capital expenditure for long-term investment purposes. Therefore, Pertamina admits there is still limited funding to expand investment.

    Pertamina Finance Director Arif Budiman added that the Mahakam Block development is one of the government's priorities in investment in upstream oil and gas sector. Pertamina also wants to manage block termination blocks.

"But, it is the greatest for the development of the Mahakam block," said Arif.

    In addition to domestic investment, Pertamina will invest abroad. Arif said Pertamina would start developing a refinery currently in Algeria. Pertamina is also in communication with Iran for the development of refineries there.

    Pertamina has even just signed a memorandum of understanding (MoU) with the Bangladesh Power Development Board (BPDP). The cooperation is for the development of integrated electricity projects in Bangladesh.

    The signing of MoU was conducted by Ginanjar as VP Power of New Renewable Energy Pertamina with Chairman of BPDP Khaled Mahmood and witnessed by President Rl Joko Widodo and Prime Minister of Bangladesh Sheikh Hasina in Dhaka.

    VP Corporate Communication Pertamina Adiatma in a written statement explains, this cooperation is a follow-up of the previous MoU on energy sector signed by the Ministry of Energy and Mineral Resources with Ministry of Power, Energy and Mineral Resources of the People's Bangladesh on September 15, 2017.

IN INDONESIA

Pertamina Menggenjot Investasi Hulu Migas

    Pengembangan Blok Mahakam menjadi salah satu prioritas Pertamina. PT Pertamina (Persero) menaikkan anggaran belanja modal sekitar 55 persen menjadi 5,59 miliar dolar AS pada tahun ini. Anggaran tersebut diprioritaskan untuk investasi hulu migas.

    Direktur Utama Pertamina Elia Massa Manik mengungkapan, realisasi belanja modal Pertamina pada 2017 sebesar 3,6 miliar dolar AS. Sebesar 2,5 miliar dolar AS dihabiskan untuk investasi hulu migas. Tahun ini anggaran untuk investasi di sektor hulu migas memiliki bagian 59 persen. Sisanya, 15 persen untuk megaproyek, investasi di sektor gas lima persen, pengolahan tiga persen, dan riset pendukung lainnya sekitar tiga persen.

    Elia mengatakan, ada beberapa rencana investasi ke depan sehingga memerlukan belanja modal yang lebih besar dibandingkan 2017.

"Untuk pengembangan rencana investasi di sektor hulu, kami akan melakukan pengembangan Lapangan Jimbaran Tiung Biru, alih kelola Blok Mahakam, dan pengembangan geotermal," ujar Elia di Kompleks Parlemen Senayan, Jakarta.

    Selain itu, Pertamina akan melakukan pengembangan petrokimia dan pengolahan, seperti peningkatan fleksibilitas minyak mentah kilang, dan pengembangan produk turunan. Pada sektor pemasaran, Pertamina akan melakukan penguatan infrastruktur pasokan distribusi dan pengembangan pipa serta jaringan gas.

    Tahun lalu, Pertamina mencatatkan pendapatan sebesar 42,86 dolar AS. Jika dibandingkan 2016, jumlah pendapatan ini naik sebesar 17 persen. Meskipun pendapatan naik, laba bersih Pertamina turun hingga 24 persen dibandingkan 2016. Dia mengungkapkan, Pertamina mencatatkan laba sebesar 2,7 miliar dolar AS pada 2017.

    Laba bersih Pertamina tergerus karena belum ada kebijakan penyesuaian harga produk Premium dan solar, sementara harga minyak mentah dunia terus mengalami kenaikan.

"Hal ini berimbas pada terjadinya penurunan laba bersih perusahaan," kata Elia.

    Pertamina masih memiliki piutang sebesar Rp 25 triliun dari pemerintah. Pemerintah mengutang kepada Pertamina untuk subsidi BBM dan elpiji tiga kilogram. Dari total utang Rp 25 triliun tersebut, sebanyak Rp 22 triliun merupakan utang yang sudah lewat jatuh tempo dari 2016 dan tahun-tahun sebelumnya. Sedangkan tahun ini, pemerintah berutang kepada Pertamina sebesar Rp 3 triliun.

    Elia menambahkan, jika utang pemerintah ini bisa segera diselesaikan, Pertamina bisa menggunakannya untuk menambah belanja modal guna keperluan investasi jangka panjang. Sebab, Pertamina mengakui masih ada keterbatasan pendanaan untuk memperluas investasi.

    Direktur Keuangan Pertamina Arif Budiman menambahkan, pengembangan Blok Mahakam menjadi salah satu prioritas pemerintah dalam investasi di sektor hulu migas. Pertamina juga ingin mengelola blokblok terminasi.

"Tapi, memang yang paling besar untuk pengembangan Blok Mahakam,“ ujar Arif.

    Selain investasi di dalam negeri, Pertamina akan berinvestasi di luar negeri. Arif mengatakan, Pertamina akan mulai mengembangkan kilang yang saat ini ada di Aljazair. Pertamina pun sedang melakukan komunikasi dengan Iran untuk pengembangan kilang di sana.

    Pertamina bahkan baru saja menandatangani nota kesepahaman (MoU) dengan Bangladesh Power Development Board (BPDP). Kerja sama tersebut untuk pembangunan proyek listrik terintegrasi di Bangladesh.

    Penandatanganan MoU dilakukan Ginanjar selaku VP Power New Renewable Energy Pertamina dengan Chairman of BPDP Khaled Mahmood dan disaksikan Presiden Rl Joko Widodo dan Perdana Menteri Bangladesh Syekh Hasina di Dhaka.

    VP Corporate Communication Pertamina Adiatma dalam keterangan tertulis menjelaskan, kerja sama ini merupakan tindak lanjut dari MoU sebelumnya pada sektor energi yang ditandatangani Kementerian Energi dan Sumber Daya Mineral RI dengan Ministry of Power, Energy and Mineral Resources ofthe People's Bangladesh pada 15 September 2017.

Republika, Page-16, Tuesday, Jan 30, 2018

Pertamina Allocates Capital Expenditure this Year to USD 5.59 Billion

    PT Pertamina (Persero) allocates capital expenditure (capital expenditure / capex) of USD 5.59 billion in 2018. This year's capex rose from the actual capex of 2017 amounting to USD 3.6 billion.

    Director of Investment Planning and Risk Management of Pertamina Gigih Prakoso said the capital expenditure budget this year will be prioritized for the company's investment in the upstream sector. The investment portion of upstream sector in this year's capital expenditure budget is 59%.

"For 2018 budget capex is planned to be USD 5.59 billion, allocated for upstream of 59%, 15% marketing, 15% mega project, 5% gas, 3% processing and 3% other supporting research," said Gigih.

 the Mahakam Block

  According to Gigih, this year Pertamina has several investment development plans in the upstream sector, among others, the development of Tiung Biru Jimbaran Field, Mahakam Block transfer process, and geothermal development. While in the petrochemical and processing sectors are RDMP refinery projects, new grass root refineries, increased refinery crude versatility, and the development of other derivative products.

"In the marketing sector, the investment plan is to strengthen the terminal distribution infrastructure of Fuel Petroleum (Refinery) and refinery pipe and rejuvenation," he said.

Elia Massa Manik

 
    Meanwhile, President Director of Pertamina Elia Massa Manik said that until the end of 2017 the company recorded a net profit of USD2.41 billion. This profit is down 23.5% from 2016 reached USD3.15 billion.

"The depth of Pertamina's net profit was triggered by price hike of Indonesia Crude Price (IPC) last year which rose by 27% or from USD 40.16 per barrel to 51.17 per barrel," Elia said.

    He explained that the increase of world oil price which is not followed by the increase of premium fuel price and diesel fuel until March 2018 impact on the decrease of profit. This also makes the company must be operating expenditure (operating expenditure / opex) over the past year.

    Elia revealed that Pertamina's unaudited revenue of 2017 reached USD 42.86 billion. This figure is up 17% from 2016 which is only USD 36.49 billion.

"These figures have not been audited, but this will change later, but the audit will be released on February 14," he said.

Projects in Bangladesh

    On the other hand, PT Pertamina (Persero) and the Bangladesh Power Development Board (BPDP) signed a memorandum of understanding (MoU) on the development of integrated electricity projects in Bangladesh. In a press release mentioned the signing of MoU done VP Power New Renewable Energy Pertamina Ginanjar with Chairman of BPDP Khaled Mahmood witnessed President Joko Widodo and Prime Minister of the Republic of Bangladesh Sheikh Hasina in Dhaka.

    This cooperation is a follow up of the previous MoU in the energy sector signed by the Ministry of Energy and Mineral Resources (ESDM) with the Ministry of Power, Energy and Mineral Resources of the People's Bangladesh, on September 15, 2017, "said Pertamina press release.

    In the previous MoU, Pertamina will build and develop an integrated project in Bangladesh consisting of an Independent Power Producer (IPP) Combined Cycle Gas Turbine (CCGT) Power Plant with a capacity of 1,400 MW.

    This project will be connected to LNG receiving facility consisting of Floating Storage and Regasification Unit (FSRU), mooring and offloading infrastructure, and gas pipeline, subsea and onshore.

    In this project, BPDB will act as the buyer of electricity generated by the integrated facility. The investment value of this project is estimated at USD 2 billion or around Rp 26.3 trillion.

    Because the completion of construction of this facility will take three years after financial closing stage is reached. The construction plan will begin in 2019.

IN INDONESIA

Pertamina Alokasikan Belanja Modal Tahun Ini USD 5,59 Miliar

    PT Pertamina (Persero) mengalokasikan belanja modal (capital expenditure/ capex) sebanyak USD 5,59 miliar pada 2018. Capex tahun ini naik dari realisasi capex tahun 2017 yang sebesar USD 3,6 miliar.

    Direktur Perencanaan Investasi dan Manajemen Risiko Pertamina Gigih Prakoso mengungkapkan, anggaran belanja modal tahun ini akan diprioritaskan untuk investasi perseroan di sektor hulu. Adapun porsi investasi sektor hulu pada anggaran belanja modal tahun ini adalah sebesar 59%.

"Untuk penganggaran capex tahun 2018 direncanakan USD 5,59 miliar. Dialokasikan untuk hulu 59%, pemasaran 15%, megaproyek 15%, gas 5%, pengolahan 3%, dan riset pendukung lainnya 3%," ujar Gigih.

    Menurut Gigih, pada tahun ini Pertamina memiliki beberapa rencana pengembangan investasi di sektor hulu di antaranya, pengembangan Lapangan Jimbaran Tiung Biru, proses alih kelola Blok Mahakam, dan pengembangan geothermal. Sementara di sektor petrokimia dan pengolahan adalah proyek RDMP kilang, new grass root kilang, peningkatan fleksibilitas minyak mentah kilang, serta pengembangan produk turunan lainnya.

"Pada sektor pemasaran, rencana investasi untuk penguatan infrastruktur pasokan distribusi terminal Bahan Bakar Minyak (BBM) dan pipa serta peremajaan kilang,” katanya.

    Sementara itu, Direktur Utama Pertamina Elia Massa Manik mengatakan, hingga akhir 2017 perseroan mencatatkan laba bersih sebesar USD2,41 miliar. Laba ini turun 23,5% dari tahun 2016 yang mencapai USD3,15 miliar.

"Tertekannya laba bersih Pertamina dipicu kenaikan harga Indonesia Crude Price (IPC) pada tahun lalu yang naik sebesar 27% atau dari USD 40,16 per barel menjadi 51,17 per barel," kata Elia.

    Dia menjelaskan, kenaikan harga minyak dunia yang tidak diikuti kenaikan harga bahan bakar minyak (BBM) premium dan solar hingga Maret 2018 berimbas pada penurunan laba. Hal ini pun membuat perseoran harus biaya operasional perusahaan (operating expenditure/opex) sepanjang tahun lalu.

    Elia mengungkapkan, pendapatan Pertamina sepanjang 2017 yang belum diaudit mencapai USD 42,86 miliar. Angka ini naik 17% dari tahun 2016 yang hanya USD 36,49 miliar.

"Angka-angka ini belum diaudit. Ini nanti kemungkinan berubah. Tapi nanti resmi auditnya akan keluar 14 Februari mendatang,"
ujarnya.

Proyek di Bangladesh

    Di sisi lain, PT Pertamina (Persero) dan Bangladesh Power Development Board (BPDP) menandatangani nota kesepahaman (MoU) tentang pembangunan proyek listrik terintegrasi di Bangladesh. Dalam siaran pers disebutkan penandatanganan MoU dilakukan VP Power New Renewable Energy Pertamina Ginanjar dengan Chairman of BPDP Khaled Mahmood disaksikan Presiden Joko Widodo dan Perdana Menteri Republik Bangladesh Sheikh Hasina di Dhaka.

    Kerja sama ini merupakan tindak lanjut dari MoU sebelumnya di sektor energi yang ditandatangani Kementerian Energi dan Sumber Daya Mineral (ESDM) dengan Ministry of Power, Energy and Mineral Resources of the People’s Bangladesh, pada 15 September 2017 lalu,” tutur siaran pers Pertamina tersebut.

    Dalam MoU sebelumnya, Pertamina akan membangun dan mengembangkan proyek terintegrasi di Bangladesh yang terdiri dari Independent Power Producer (IPP) Combined Cycle Gas Turbine (CCGT) Power Plant dengan kapasitas 1.400 MW.

    Proyek ini nanti akan terhubung dengan fasilitas penerima LNG yang terdiri dari Floating Storage and Regasification Unit (FSRU), infrastruktur mooring dan offloading, serta jalur pipa gas, subsea maupun onshore.

    Dalam proyek ini, BPDB akan bertindak sebagai pembeli listrik yang dihasilkan fasilitas terintegrasi tersebut. Adapun nilai investasi dari proyek ini diperkirakan sebesar USD 2 miliar atau sekitar Rp 26,3 triliun.

    Karena proses penyelesaian konstruksi fasilitas ini akan membutuhkan waktu tiga tahun setelah tahap financial closing dicapai. Rencananya konstruksi akan dimulai tahun 2019.

Koran Sindo, Page-17, Tuesday, Jan 30, 2018