LNG Exports, Pertamina Will Be US $ 10.4 M

    PT Pertamina (Persero) has the potential to obtain US $ 10.4 billion from the sale of liquefied natural gas / LNG to Bangladesh and Pakistan.

    Pertamina Corporate Communication Vice President Adiatma Sardjito said the company and Bangladesh Oil and Gas Corporation (Petrobangla) have signed Letter Of Intent (LOI) bindings related to this LNG supply. Later, the company will send LNG with volume of 1 million tons per year for 10 years.

"The total value (gas supply) of US $ 4 billion and will begin to be supplied in" fourth quarter of 2018, "Adiatma Sardjito.

    The signing of the agreement was conducted simultaneously with President Joko Widodo's Visit to Bangladesh, Pakistan and other countries in South Asia. The agreement was signed by Pertamina LNG Vice President Wiko Migantoro and Petrobangla Secretary Syed Ashfaquzzaman, witnessed by President Joko Widodo and Prime Minister of the Republic of Bangladesh Sheikh Hasina in Bangladesh.

    Not only from Bangladesh, Pertamina will also get LNG payments from Pakistan. Still in a series of visits to South Asia, President Joko Widodo also witnessed the signing of the Inter Governmental Agreement (IGA) in Energy with Pakistan, which underlies the sale of LNG from Indonesia to Pakistan.

    Pertamina together with Pakistan LNG Ltd will follow up the signing of the agreement by discussing a projected LNG purchase agreement of 1.5 million tons per year for 10 years with a five-year extension option. From this transaction, Pertamina has the potential to earn US $ 6.4 billion.

    Energy cooperation between Indonesia and Bangladesh initiated by the government since September 2017. The signing of agreements with the two countries is a form of follow-up to the cooperation. Pertamina took a role through various LNG buying and selling agreements and other cooperation with several energy companies.

    Earlier, Minister of State Electricity, Energy and Mineral Resources Nasrul Hamid said, Bangladesh's energy needs continue increasing every year. LNG imports from Indonesia are expected to overcome LNG deficit in Bangladesh which is estimated to reach 1 million tons per year in 2018 and increase to 11 million tons per year by 2030.

    To overcome this, Bangladesh has also agreed on the construction of two floating shelter and regasification units (FSRU) with a capacity of 1,000 million cubic feet per day (millions standard cubic per day / mmscfd).

"By mid 2018, we expect to be able to obtain the first ever LNG supply in our pipeline. It will continue to grow in the future, "he said.

    Not only to supply gas, Pertamina will also build PLTG. 1,400 MW worth US $ 2 billion in Bangladesh. The realization of this project is marked by the signing of a memorandum of understanding between Pertamina and the Bangladesh Power Development Board (BPDP).

   Bangladesh Power Development Board (BPDP).

 Later, BPDB will act as the buyer of electricity generated by the integrated facility. This PLTG is projected to begin construction in 2019 with a construction period of three years after the completion of funding. This PLTG will be connected to a liquefied natural gas (LNG) facility, consisting of Floating Storage and Regasification Unit (FSRU), mooring and off loading infrastructure, and both subsea gas pipelines and onshore. Gas supply will come from Pertamina.

IN INDONESIA

Ekspor LNG, Pertamina Akan Dapat US$ 10,4 M

    PT Pertamina (Persero) berpotensi memperoleh US$ 10,4 miliar dari hasil penjualan gas alam cair/LNG ke Bangladesh dan Pakistan.

    Vice President Corporate Communication Pertamina Adiatma Sardjito menyatakan, perseroan dan Bangladesh Oil and Gas Corporation (Petrobangla) telah menandatangani Letter Of Intent (LOI) binding terkait pasokan LNG ini. Nantinya, perseroan akan mengirim LNG dengan volume 1 juta ton per tahun selama 10 tahun.

“Nilai total (pasokan gas) US$ 4 miliar dan akan mulai disuplai pada “kuartal keempat tahun 2018 ini,” Adiatma Sardjito.

    Penandatanganan kesepakatan itu dilakukan bersamaan dengan Kunjungan Presiden Joko Widodo ke Bangladesh, Pakistan, dan negara-negara lain di Asia Selatan. Kesepakatan ini ditandatangani  oleh Vice President LNG Pertamina Wiko Migantoro dan Sekretaris Petrobangla Syed Ashfaquzzaman, disaksikan Presiden Joko Widodo dan Perdana Menteri Republik Bangladesh Sheikh Hasina di Bangladesh.

    Tidak hanya dari Bangladesh, Pertamina juga akan memperoleh pembayaran LNG dari Pakistan. Masih dalam rangkaian kunjungan ke Asia Selatan, Presiden Joko Widodo juga menyaksikan penandatanganan Inter Governmental Agreement (IGA) di bidang Energi dengan Pakistan, yang mendasari penjualan LNG dari Indonesia ke Pakistan.

    Pertamina bersama Pakistan LNG Ltd akan menindaklanjuti penandatanganan kesepakatan itu dengan membahas perjanjian jual beli LNG yang diproyeksikan sebesar 1,5 juta ton per tahun selama 10 tahun dengan opsi perpanjangan lima tahun. Dari transaksi ini, Pertamina berpotensi memperoleh US$ 6,4 miliar.

    Kerja sama di bidang energi antara Indonesia dengan Bangladesh dan Pakistan yang diinisiasi pemerintah sejak September 2017. Penandatangan kesepakatan dengan kedua negara merupakan bentuk tindak lanjut dari kerja sama tersebut. Pertamina mengambil peran melalui berbagai kesepakatan jual beli LNG dan kerja sama lainnya dengan beberapa perusahaan energi.

    Sebelumnya, Menteri Negara Listrik, Energi, dan Sumber Daya Mineral Nasrul Hamid mengatakan, kebutuhan energi Bangladesh terus meningkat setiap tahunnya. Impor LNG dari Indonesia diharapkan bisa mengatasi defisit LNG di Bangladesh yang diperkirakan mencapai 1 juta ton per tahun pada 2018 dan meningkat menjadi 11 juta ton per tahun pada 2030.

    Untuk mengatasi hal ini, Bangladesh juga sudah menyepakati pembangunan dua unit penampungan dan regasifikasi terapung (FSRU) dengan kapasitas 1.000juta kaki kubik per hari (millions standard cubic per day/mmscfd).

“Pada pertengahan 2018, kami berharap bisa memperoleh pasokan LNG pertama kalinya dalam jaringan pipa kami. Ini akan terus bertambah ke depannya,” tuturnya.

    Tidak hanya memasok gas, Pertamina juga akan membangun PLTG. 1.400 MW senilai US$ 2 miliar di Bangladesh. Realisasi proyek ini ditandai dengan ditandatanganinya nota kesepahaman antara Pertamina dan Bangladesh Power Development Board (BPDP).

    Nantinya, BPDB akan bertindak sebagai pembeli listrik yang dihasilkan oleh fasilitas terintegrasi tersebut. PLTG ini diproyeksikan mulai konstruksi pada 2019 dengan masa pembangunan tiga tahun setelah penyelesaian pendanaan. PLTG ini nantinya akan terhubung dengan fasilitas penerima gas alam cair (liquefied natural gas/LNG), yang terdiri dari unit penampungan dan regasifikasi terapung (Floating Storage and Regasification Unit/ FSRU) , infrastruktur mooring dan off loading, serta jalur pipa gas baik subsea maupun onshore. Pasokan gas akan berasal dari Pertamina.

Investor Daily, Page-9, Friday, Feb 2, 2018

Pertamina EP Targets Oil and Gas Production 253,202 MBOEPD

    PT Pertamina EP, a subsidiary of PT Pertamina (Persero), targets oil and gas production in 2018 to be 253,202 barrel oil equivalent per day (BOEPD), up slightly from oil and gas production in 2017 of 253 MMBOEPD. Meanwhile, revenue is targeted at US $ 2.78 billion or more than the realization in 2017 of US $ 2.76 billion.

"The increase in production in-2018 is expected to be obtained from several well development drilling activities and work over that has been done. This year will be a drilling program of 83 development wells and 146 wells work over, "said President Director of PT Pertamina EP Nanang Abdul Manaf.

    

     According to Nanang, several fields that are expected to contribute significantly are Bunyu field in East Kalimantan as well as several other fields in asset 2 which during 2017 contributed greatly. As for the gas production is expected from several projects that are ready for production or on stream.

"Gas production is 2018, smaller than the actual production of 2017. This is because there is planned shut down at Subang Field, West Java and Matindok in Banggai, Central Sulawesi because PT Donggi Senoro LNG refinery is turn around. But from the accumulated oil and gas production (oil and gas) is greater than the realization in 2017, "said Nanang.

    In addition to several fields that are expected to contribute to the increased production of Pertamina EP in 2018, the increase in production is derived from the commitment of the implementation of work plan based on priority scale together with SKK oil and gas and PT Pertamina (Persero) and synergy with other subsidiaries.

    With the increase in production targets, revenue will also go up. In addition, the increase in revenue is projected with oil prices that will continue to improve or at least still the same as the end of 2017.

"The most important thing to be able to increase revenue is the implementation of the program according to target time, budget and quality based on priority scale and efficiency," he said.

    On the other hand, Nanang explained about the increase of oil and gas reserves. This year Pertamina EP plans to drill proving up of 23 wells from asset 1 to asset 5. Other activities undertaken are plan of Develeopment (POD) from the structure of new exploration findings such as Karang Makmur and Benggala wells then POFD making activity at well Betung, Semberah, North Mahakam Phase 2, Recognize Acid and Carambola. There is also reassessment activity of updating data in West Musi structure.

"The total of all efforts made is 55.59 MMBOE. And as of January 1, 2018, Pertamina EP's total oil and gas reserves amounted to 1,940.15 MMBOE, "he said.

    Nanang said that in 2017, the company recorded a net profit of US $ 615 million, up 4.4 percent compared to the net profit of US $ 589 million in 2016. The increase in net profit was supported by an increase in revenues from US $ 2.49 billion in 2016 US $ 2.76 billion in 2017.

    The drivers of net profit increase also came from oil stocks released last year that lifting reached 77,900 barrels per day, higher than average production of 2017 of 77,200 bph. The increase in profits is also sustained by prices global crude oil improved at the end of last year. Moreover, from the end of 2017 the global oil price reaches US $ 70 per barrel for Brent oil.

"This will help Pertamina EP net profit increase," Nanang said.

    Throughout 2017, Pertamina declared oil and gas production of 252 mmboepd or 96% of the target in the company's budget work plan (RKAP). The realization of oil and gas production consists of 77,200 bpd of oil production or 91% of the target and 1,018 mmscfd of gas reaching 98% of RKAP.

    Pertamina EP Asset 2, Pertamina EP's business unit contributes the largest oil and gas. Throughout 2017, Pertamina EP Asset 2 consisting of five fields, Prabumulih, Limau, Adera and Pendopo, contributed 22.5% or 17,394 bph of oil to Pertamina EP. Gas production contributed 42.6% or 433.90 mmscfd.

    In 2017 Pertamina EP issued a capital expenditure of US $ 644 million with operating expenses of US $ 1.17 billion. This year, the company projected capital expenditures of US $ 755 million and operating expenses of approximately US $ 1.27 billion.

IN INDONESIA

Pertamina EP Targetkan Produksi Migas 253,202 MBOEPD  

    PT Pertamina EP anak usaha PT Pertamina (Persero), menargetkan produksi minyak dan gas pada 2018 sebesar 253,202 barel setara minyak (Barrel Oil Equivalent Per Day/BOEPD) atau naik sedikit dari realisasi produksi minyak dan gas 2017 sebesar 253 MMBOEPD. Sementara pendapatan ditargetkan US$ 2,78 miliar atau Iebih besar dari realisasi pada 2017 sebesar US$ 2,76 miliar.

“Kenaikan produksi pada-2018 diharapkan didapat dari beberapa kegiatan pemboran sumur pengembangan dan work over yang sudah dilakukan. Tahun ini akan dilakukan program pemboran 83 sumur pengembangan dan 146 sumur work over,” ujar Presiden Direktur PT Pertamina EP Nanang Abdul Manaf.

    Menurut Nanang, beberapa lapangan yang diharapkan memberikan kontribusi besar adalah lapangan Bunyu di Kalimantan Timur serta beberapa lapangan lain di asset 2 yang selama 2017 memberikan kontribusi besar. Sementara untuk produksi gas diharapkan dari beberapa project yang sudah siap produksi atau on stream.

“Produksi gas 2018, lebih kecil dibandingkan realisasi produksi 2017. Hal ini karena ada planned shut down di Lapangan Subang, Jawa Barat dan Matindok di Banggai, Sulawesi Tengah karena kilang PT Donggi Senoro LNG ada turn around. Namun dari akumulasi produksi migas (minyak dan gas) lebih besar dibandingkan realisasi di 2017,” jelas Nanang.

    Selain beberapa lapangan yang diharapkan memberi kontribusi dalam peningkatan produksi Pertamina EP di 2018, kenaikan produksi didapatkan dari komitmen pelaksanaan penyusunan rencana kerja berdasarkan skala prioritas bersama SKK migas dan PT Pertamina (persero) serta sinergi yang dilakukan dengan anak perusahaan lain.

    Dengan kenaikan target produksi, pendapatan juga akan ikut naik. Selain itu kenaikan pendapatan diproyeksikan dengan harga minyak yang masih akan terus membaik atau setidaknya masih sama seperti akhir 2017.

“Yang terpenting juga untuk bisa meningkatkan pendapatan adalah pelaksanaan program sesuai target waktu, anggaran dan kualitas berdasarkan skala prioritas dan efisiensi,” katanya.

    Pada bagian lain, Nanang menjelaskan soal peningkatan cadangan migas. Tahun ini Pertamina EP merencanakan pemboran proving up sebanyak 23 sumur dari asset 1 sampai asset 5. Kegiatan lain yang dilakukan yakni pembuatan plan of Develeopment (POD) dari struktur temuan baru eksplorasi seperti seperti sumur Karang Makmur dan Benggala kemudian aktivitas pembuatan POFD di sumur Betung, Semberah, North Mahakam Phase 2, Kenali Asam dan Belimbing. Ada juga kegiatan reassessment pemutakhiran data di struktur Musi Barat.

“Total semua upaya yang dilakukan tersebut sebesar 55.59 MMBOE. Dan per 1 Januari 2018, total cadangan migas yang dimiliki Pertamina EP sebesar 1.940,15 MMBOE,” ujarnya.

    Nanang menyebutkan, sepanjang 2017 perseroan mencatatkan laba bersih sebesar US$ 615 juta, naik 4,4% dibandingkan laba bersih 2016 yang tercatat US$ 589 juta, Kenaikan laba bersih tersebut ditopang oleh peningkatan pendapatan usaha dari US$ 2,49 miliar pada 2016 menjadi US$ 2,76 miliar pada 2017.

    Pendorong peningkatan laba bersih juga berasal dari stok minyak yang dikeluarkan (dijual) tahun lalu sehingga lifting mencapai 77.900 barel per hari, lebih tinggi dari produksi rata-rata sepanjang 2017 sebesar,77.200 bph. Kenaikan laba juga ditopang oleh harga minyak mentah global yang membaik pada akhir tahun lalu. Apalagi, mulai akhir 2017 harga minyak global mencapai US$ 70 per barel untuk minyak Brent.

“Ini membantu kenaikan laba bersih Pertamina EP” ujar Nanang.

    Sepanjang 2017, Pertamina mencatakan produksi migas sebesar 252 mmboepd atau 96% dari target dalam rencana kerja anggaran perusahaan (RKAP). Realisasi produksi migas tersebut terdiri atas 77.200 bph produksi minyak atau 91% dari target dan 1.018 mmscfd gas yang mencapai 98% dari RKAP.

    Pertamina EP Asset 2, unit bisnis Pertamina EP memberi kontribusi migas terbesar. Sepanjang 2017, Pertamina EP Asset 2 yang terdiri atas lima lapangan, yaitu Prabumulih, Limau, Adera, dan Pendopo, memberikan kontribusi minyak bagi Pertamina EP sebesar 22,5% atau 17.394 bph. Sedangkan produksi gas memberi kontribusi 42,6% atau sebesar 433,90 mmscfd.

    Pada 2017 Pertamina EP mengeluarkan belanja modal sebesar US$ 644 juta dengan biaya operasi sebesar US$ 1,17 miliar. Tahun ini, perseroan memproyeksikan belanja modal US$ 755 juta dan biaya operasi sekitar US$ 1,27 miliar.

Investor Daily, Page-9, Friday, Feb 2, 2018

Court Set PGN No Gas Price Monopoly in Medan City

    The West Jakarta District Court overturned the decision of the Business Competition Supervisory Commission (KPPU) stating PT Perusahaan Gas Negara (Persero) Tbk (PGN) was guilty of determining the selling price of natural gas in the city of Medan, North Sumatra. PGN proved not to monopolize or set the price of gas too high.

"The court has overturned the KPPU's decision dated November 14, 2017 by ruling that PGN is not guilty because it is not proven to be a violation," said PGN Corporate Secretary Rachmat Hutama.

    In this decision, the Court granted the objection submitted by the PGN Legal Team completely. In addition, the Court also requires the KPPU to pay the costs incurred in the hearing.

    This is because the Panel of Judges considered that the case of Gas Sales and Purchase Agreement (PJBG) should not be managed by KPPU. Because, the case is a dispute between business actors and consumers who are subject to Law No. 8 of 1999.

"According to the Panel of Judges, the case of PJBG is not the authority of KPPU, but the Consumer Dispute Settlement Agency," Rachmat said.

    Other considerations that also strengthen the annulment of KPPU's decision, said Rachmat, related to the object object that is exempt from Anti-monopoly Law. He explained that the Assembly assessed the pricing by PGN has been based on the provisions of applicable legislation, namely Minister of Energy and Mineral Resources Regulation No. 21 of 2008 and Regulation of the Minister of Energy and Mineral Resources No. 19 of 2009.

    In addition, the Panel of Judges assessed that the determination of price by PGN is part of government policy because there is reporting to the government pursuant to Article 21 Paragraph 5 of Minister of Energy and Mineral Resources Regulation no. 19/2009.

"That way, the Panel of Judges decided, PGN is not proven to violate Article 17 of the Anti-Monopoly Law," said Rachmat.

    For information, previously in the last trial held in the city of Medan in November last year, the Panel of Judges KPPU decided PGN management is guilty in determining the selling price of natural gas in Medan. Against this verdict, KPPU decided PGN to pay a fine of Rp 9.9 billion.

    In its decision, KPPU said PGN has set an excessive price by not considering the purchasing power of domestic consumers in determining the increase of gas price in the period of August-November 2015.

    Previously, Rachmat explained that the high gas price in August-November 2015 due to the influx of gas from the regasification of liquefied natural gas (LNG) plus the cost incurred in each business chain (trader without facility). This Rachmat statement is in accordance with the data of the Ministry of Energy and Mineral Resources (ESDM).

    According to the data, gas supply for Medan city consists of two sources, namely LNG of 6 billion british thermal units per day (bbtud) and gas pipe Field Base Milk 4 bbtud. So the gas price of US $ 13.38 per mmbtu is obtained from LNG US $ 7.8 per mmbtu, gas pipeline US $ 8.24 per mmbtu, plus regasification fee US $ 1.65 per mmbtu, toll fee Pipa Arun-Belawan US $ 2.78 per mmbtu and a margin of US $ 1.55 per mmbtu, a Milk-Won Water Supply Base of US $ 0.92 per mmbtu, and PGN distribution cost of US $ 1.44 per mmbtu.

    Nevertheless, since February 2017, PGN has lowered the gas price for the industry in Medan to US $ 9.95 per mmbtu, the price reduction policy is a continuation of President Joko Widodo's direction.

    After discussing with all parties starting from the Ministry of Energy and Mineral Resources, the Ministry of Industry, Pertamina, PGN to the industry in Medan, the gas price declined from US $ 12.22 per mmbtu to US $ 9.95 per mmbtu.

    Price reductions can be realized because gas supply sources are replaced, no longer using LNG. Based on data from the Ministry of Energy and Mineral Resources, at the calculation of new prices for North Sumatra industry players, the price of Pangkalan Susu decreased to US $ 6.82 per mmbtu plus 1% of the Indonesian crude oil price (ICP) and from NSO Block US $ 6.95 per mmbtu plus 1% ICP.

    Furthermore, there is no regasification fee, while Arun-Belawan toll fee and margin decrease to US $ 1.88 per mmbtu and US $ 0.57 per mmbtu, toll fee of US $ 0.8 per mmbtu Base , as well as PGN distribution cost of US $ 0.9 per mmbtu.

IN INDONESIA

Pengadilan Tetapkan PGN Tidak Monopoli Harga Gas di Kota Medan

    Pengadilan Negeri Jakarta Barat membatalkan keputusan Komisi Pengawas Persaingan Usaha (KPPU) yang menyatakan PT Perusahaan Gas Negara (Persero) Tbk (PGN) bersalah dalam penetapan harga jual gas bumi di kota Medan, Sumatera Utara. PGN terbukti tidak melakukan monopoli ataupun menetapkan harga gas terlalu tinggi.

“Pengadilan telah membatalkan keputusan KPPU tertanggal 14 November 2017 dengan memutuskan bahwa PGN tidak bersalah karena tidak terbukti melakukan pelanggaran,” kata Sekretaris Perusahaan PGN Rachmat Hutama.

    Dalam putusan ini, Pengadilan mengabulkan keberatan yang diajukan Tim Kuasa Hukum PGN secara seluruhnya. Selain itu, Pengadilan juga mewajibkan KPPU untuk membayar biaya yang timbul dalam persidangan.

    Hal ini lantaran Majelis Hakim menilai perkara Perjanjian Jual Beli Gas (PJBG) tidak semestinya diurus oleh KPPU. Sebab, perkara tersebut merupakan sengketa antara pelaku usaha dengan konsumen yang tunduk pada UU Nomor 8 Tahun 1999.

“Menurut Majelis Hakim, perkara PJBG bukan merupakan kewenangan KPPU, melainkan Badan Penyelesaian Sengketa Konsumen," kata Rachmat.

    Pertimbangan lain yang juga menguatkan pembatalan keputusan KPPU tersebut, kata Rachmat, terkait dengan objek perkara yang dikecualikan dari Undang-Undang Anti Monopoli. Dijelaskannya, Majelis menilai penetapan harga oleh PGN telah berdasarkan ketentuan perundang-undangan yang berlaku, yakni Peraturan Menteri ESDM Nomor 21 Tahun 2008 dan Peraturan Menteri ESDM Nomor 19 Tahun 2009.

    Selain itu, Majelis Hakim menilai penetapan harga oleh PGN merupakan bagian dari kebijakan pemerintah karena ada pelaporan kepada pemerintah berdasarkan Pasal 21 Ayat 5 Peraturan Menteri ESDM No. 19/2009.

“Dengan begitu, Majelis Hakim memutuskan, PGN tidak terbukti melanggar Pasal 17 UU Anti Monopoli,” ujar Rachmat.

    Sebagai informasi, sebelumnya dalam persidangan terakhir yang digelar di kota Medan pada November tahun lalu, Majelis Hakim KPPU memutuskan manajemen PGN bersalah dalam penetapan harga jual gas bumi di Medan. Terhadap vonis ini, KPPU memutuskan agar PGN membayar denda sebesar Rp 9,9 miliar.

    Dalam amar putusannya, KPPU menyatakan PGN telah menetapkan harga yang berlebihan (excessive price) dengan tidak mempertimbangkan kemampuan daya beli konsumen dalam negeri dalam menetapkan kenaikan harga gas dalam kurun waktu Agustus-November 2015.

    Sebelumnya, Rachmat menjelaskan bahwa tingginya harga gas pada Agustus-November 2015 karena masuknya gas dari hasil regasifikasi gas alam cair (liquened natural gas/ LNG) ditambah lagi biaya yang timbul pada masing-masing rantai bisnis (trader tanpa fasilitas). Pernyataan Rachmat ini sesuai dengan data Kementerian Energi dan Sumber Daya Mineral (ESDM).

    Menurut data tersebut, pasokan gas untuk kota Medan terdiri dari dua sumber, yakni LNG sebesar 6 miliar british thermal unit per hari (bbtud) dan gas pipa Lapangan Pangkalan Susu 4 bbtud. Sehingga harga gas US$ 13,38 per mmbtu diperoleh dari LNG US$ 7,8 per mmbtu, gas pipa US$ 8,24 per mmbtu, ditambah biaya regasifikasi US$ 1,65 per mmbtu, toll fee Pipa Arun-Belawan US$ 2,78 per mmbtu dan marjin US$ 1,55 per mmbtu, toll fee Pangkalan Susu-Wampu US$ 0,92 per mmbtu, serta biaya distribusi PGN US$ 1,44 per mmbtu.

    Meski demikian, sejak Februari 2017, PGN telah menurunkan harga gas untuk industri di Medan menjadi US$ 9,95 per mmbtu, Kebijakan penurunan harga tersebut merupakan lanjutan dari arahan Presiden Joko Widodo.

    Setelah melakukan pembahasan dengan seluruh pihak mulai dari Kementerian ESDM, Kementerian Perindustrian, Pertamina, PGN hingga industri di Medan, maka di putuskan harga gas turun dari US$ 12,22 per mmbtu menjadi US$ 9,95 per mmbtu.

    Penurunan harga bisa direalisasikan karena sumber pasokan gas diganti, tidak lagi memakai LNG. Berdasarkan data Kementerian ESDM, pada perhitungan harga baru untuk pelaku industri Sumut, harga dari Pangkalan Susu turun menjadi US$ 6,82 per mmbtu ditambah 1% dari harga minyak mentah Indonesia (ICP) dan dari Blok NSO US$ 6,95 per mmbtu plus 1% ICP.

    Selanjutnya, tidak ada lagi biaya regasifikasi, sementara toll fee dan marjin Arun-Belawan turun menjadi masing-masing US$ 1,88 per mmbtu dan US$ 0,57 per mmbtu, toll fee Pangkalan Susu-Wampu US$ 0,8 per mmbtu, serta biaya distribusi PGN US$ 0,9 per mmbtu.

Investor Daily, Page-9, Friday, Feb 2, 2018

ESDM Minister Asks to Increase Recruitment of Papuan Workers in BP Tangguh

    In order to support the increase in the multiplier effect of upstream oil and gas activities, the Government expects British Petroleum (BP) through BP Berau Ltd. as the Tangguh LNG operator in Bintuni Bay, West Papua to be able to pay attention to the absorption and improvement of labor quality from Papua .

British Petroleum (BP)

     This was conveyed by Energy and Mineral Resources Minister Ignatius Jonan during a working visit in London on January 30, 2018. He mentioned the ESDM ministry is paying more attention to the development of Papuan communities, especially in areas related to energy projects.

   

 Amien Sunaryadi

 In line with the Minister of EMR, Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi who accompanied the Minister of Energy and Mineral Resources, said that BP has committed to the absorption of workers from Papua. He mentioned BP should also pay attention to the fate of the employee when the construction project ends.

"Of the approximately 7,000 employees in the Tangguh construction project, as many as 30% of them are Papuans, young people who have just graduated from school to be trained and nurtured," said Amien.

    On the same occasion, Head of Country BP Berau Ltd., Dharmawan H. Samsu, said that the company is currently undertaking training on hundreds of laborers from Papua to operate the LNG refinery. He mentioned that the Tangguh Train 3 project at its peak will absorb more than 7,000 workers, 30% from indigenous Papuans.

"Now the number of workers in the project is about 1,800 people, gradually the absorption of workers will increase," he said.

    Dharmawan added that his party has a high commitment to this Tangguh Train project.

"Soon we will finish 2 platforms, hopefully this year," he concluded.

    The current capacity of Train 1 and 2 LNG Tangguh is 7.6 million tons per year (metric ton per annum / mtpa). After the Final Investment / FID Decision, Tangguh Train 3 was approved by the Government on July 1, 2016, the LNG train trains will be operational by 2020, with a capacity of 3.8 million tons per year, which will increase Tangguh's total LNG capacity to 11.4 million tons per year.

    Of the new train, 75% of LNG production will be allocated for sale to Perusahaan Listrik Negara (PLN), which can generate 3,000 MW of electricity for Indonesia. In addition, Tangguh Train 3 is projected to supply 4x2 MW of electricity to PLN to residents around the Tangguh LNG Refinery and commit to gas sales of up to 20 mmscfd to meet 50% of the electricity needs in West Papua province.

IN INDONESIA

Menteri ESDM Minta Tingkatkan Rekrutmen Pekerja Papua di BP Tangguh

    Dalam rangka mendukung peningkatan efek berganda dari kegiatan hulu minyak dan gas bumi (migas), Pemerintah mengharapkan British Petroleum (BP) melalui BP Berau Ltd selaku operator Tangguh LNG di Teluk Bintuni, Papua Barat, untuk dapat memperhatikan penyerapan dan peningkatan kualitas tenaga kerja asal Papua.

    Hal tersebut disampaikan Menteri Energi dan Sumber Daya Mineral Ignasius Jonan dalam kunjungan kerja di London pada 30 Januari 2018. Dia menyebutkan kementerian ESDM memberikan perhatian lebih kepada pengembangan masyarakat Papua, terutama dibidang yang terkait dengan proyek-proyek energi.

    Senada apa yang disampaikan Menteri ESDM, Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Amien Sunaryadi yang turut mendampingi Menteri ESDM, mengatakan saat ini BP telah memberikan komitmen untuk penyerapan tenaga kerja asal Papua. Dia menyebutkan BP juga harus memperhatikan nasib karyawan tersebut ketika proyek konstruksinya berakhir.

"Dari sekitar 7.000 karyawan di proyek konstruksi Tangguh, sebanyak 30%-nya adalah orang Papua. Mereka anak-anak muda yang baru lulus sekolah untuk dilatih dan dibina," kata Amien.

    Pada kesempatan yang sama, Head of Country BP Berau Ltd, Dharmawan H. Samsu, mengatakan pihaknya saat ini seadng melaksanakan pelatihan terhadap ratusan tenaga kerja asal Papua untuk nantinya mengoperasikan kilang LNG. Dia menyebutkan proyek Tangguh Train 3 pada masa puncaknya akan menyerap lebih dari 7.000 pekerja yang 30% berasal dari tenaga lokal asli Papua.

"Sekarang jumlah pekerja di proyek sekitar 1.800-an orang. Pelan-pelan tentu penyerapan tenaga kerja akan meningkat,” ujarnya.

    Dharmawan menambahkan pihaknya memiliki komitmen tinggi untuk proyek Train Tangguh ini.

"Tidak lama lagi kami akan menyelesaikan 2 platform. semoga bisa tahun ini," pungkasnya.

    Kapasitas Train 1 dan 2 LNG Tangguh saat ini 7,6 juta ton per tahun (metric ton per annum/ mtpa). Setelah Keputusan Final Investasi/ FID, Tangguh Train 3 disetujui Pemerintah pada 1 Juli 2016 lalu, diproyesikan train LNG 3 akan beroperasi pada tahun 2020, berkapasitas 3,8 juta ton per tahun, sehingga akan meningkatkan kapasitas total Tangguh LNG menjadi 11,4 juta ton per tahun.

    Dari train baru tersebut, 75% produksi LNG akan dialokasikan untuk dijual ke Perusahaan Listrik Negara (PLN) yang dapat menghasilkan 3.000 MW listrik untuk Indonesia. Di samping itu, Tangguh Train 3 diproyeksikan akan memasok 4x2 MW listrik kepada PLN untuk penduduk di sekitar Kilang Tangguh LNG dan berkomitmen untuk penjualan gas hingga 20 mmscfd demi memenuhi 50% kebutuhan listrik di provinsi Papua Barat.

Investor Daily, Page-9, Friday, Feb 2, 2018

Sukowati Field Production Decreases

    Sukowati Field oil production, which is a unitization, aka merging into Tuban's work area is suspected to be no longer the operator's concern. This is evident from the decline in production in Sukowati Square to below 6,000 barrels per day (bpd) in January 2018, compared to January 2012 production of 11,000 bpd.

    

    The decline in production is due to the Joint Operation Body Pertamina-Petrochina East Java (JOB-PPEJ) contract which will end on February 28, 2018. Currently in Tuban Block there are two oil and gas fields, namely Sukowati Field with 11,000 bph production and Mudi Field with 4,000 bph production.

    President Director of PT Pertamina EP Nanang Abdul Manaf said that his office has sent a letter to the Special Unit for Upstream Oil and Gas Business (SKK Migas). Pertamina's subsidiary also held a discussion with SKK Migas on Sukowati Field to be handed over to Pertamina EP.

    In the unitization contract with Tuban Block, the company owns 80% and 20% participating interest (PI) owned by Joint Operation Body of Pertamina-Petrochina East Java (JOB-PPEJ).

"We are aware, otherwise the production investment will not be back, so we offer the farm in for 20%," said Nanang, Wednesday (31/1).

    Unfortunately, the desire to farm in (take over shares) was not addressed by the Tuban Block operator. In fact, when the production of Tuban Block post-government no longer extend the contract continues to decline. Pertamina EP must act. Nanang reminded if there is no action in Sukowati Square which has 33 wells oil production there will continue to fall.

    Nanang guarantees that if Sukowati Field belongs to Pertamina EP, there will be full drilling work over work and drilling of injection wells to return production as before. Even the budget issue is no longer a problem for Pertamina EP.

    In addition to Sukowati, Pertamina EP is also interested in the Sanga-Sanga field in direct contact with the Sanga-Sanga Block owned by Vico and Saka Energi. In agreement with Vico, Pertamina EP may only drill 1,200 meters below ground level.

    Meanwhile, the remaining blocks of oil and gas blocks may be granted to Pertamina Hulu Energi and Pertamina Hulu Indonesia.

 "We are only in those two, Tuban Block or Sukowati Square and Sanga-Sanga," Nanang said.

IN INDONESIA

Produksi Lapangan Sukowati Menurun

    Produksi minyak Lapangan Sukowati yang merupakan unitisasi, alias penggabungan ke dalam wilayah kerja Tuban diduga tidak lagi menjadi perhatian sang operator. Ini terlihat dari menurunnya produksi di Lapangan Sukowati hingga di bawah 6.000 barel per hari (bph) pada Januari 2018, dibandingkan produksi Januari 2017 yang sebesar 11.000 bph.

    Penurunan produksi ini karena kontrak Joint Operation Body Pertamina-Petrochina East Java (JOB-PPEJ) akan berakhir pada 28 Februari 2018. Saat ini di Blok Tuban terdapat dua lapangan migas, yakni Lapangan Sukowati produksinya 11.000 bph dan Lapangan Mudi dengan produksi 4.000 bph.

        Direktur Utama PT Pertamina EP Nanang Abdul Manaf mengungkapkan, pihaknya sudah mengirimkan surat kepada Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Anak usaha Pertamina juga juga melakukan diskusi dengan SKK Migas tentang Lapangan Sukowati agar lapangan itu diserahkan kepada Pertamina EP.

    Dalam kontrak unitisasi dengan Blok Tuban pihaknya memiliki participating interest (PI) sebesar 80% dan 20% milik Joint Operation Body Pertamina-Petrochina East Java (JOB-PPEJ).

"Kami menyadari, jika tidak investasi produksi tidak akan balik. Makanya waktu itu kami menawarkan farm in untuk 20% itu. Kalau produksi turun, bagian kami juga kecil," kata Nanang, Rabu (31/1).

    Sayangnya, keinginan untuk farm in (mengambilalih saham) tidak ditanggapi operator Blok Tuban. Padahal, saat itu produksi Blok Tuban pasca pemerintah tidak lagi memperpanjang kontrak terus menurun. Pertamina EP harus bertindak. Nanang mengingatkan jika tidak ada tindakan di Lapangan Sukowati yang memiliki 33 sumur produksi minyak di sana akan terus turun.

    Nanang menjamin jika Lapangan Sukowati menjadi milik Pertamina EP sepenuhnya akan ada pekerjaan pengeboran sumur work over dan pengeboran sumur injeksi agar produksi kembali seperti semula. Bahkan masalah anggaran tidak lagi menjadi masalah bagi Pertamina EP.

    Selain di Sukowati, Pertamina EP juga berminat pada lapangan Sanga-Sanga yang bersentuhan langsung dengan Blok Sanga-Sanga milik Vico dan Saka Energi. Dalam perjanjian dengan Vico, Pertamina EP hanya boleh mengebor 1.200 meter di bawah permukaan tanah.

    Sementara sisa blok migas terminasi ada kemungkinan diberikan kepada Pertamina Hulu Energi dan Pertamina Hulu Indonesia.

 "Kami hanya ada di dua itu, Blok Tuban atau Lapangan Sukowati dan Sanga-Sanga," kata Nanang.

Kontan, Page-14, Friday, Feb 2, 2018

Revenue Sharing Share Proof Portion

    The profit sharing portion of the winning contractor in the auction of five oil and gas blocks using a gross profit sharing scheme will be determined after the provision of proven oil and gas reserves. The profit sharing is obtained after the winning bidder conducts exploration activities to find proven oil and gas reserves.

    Meanwhile, the contract signing for the winners of the five-block oil and gas auction will be held in 2 weeks. Implementing the tasks of the Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Ego Syahrial said that in the results of the auction phase I / 2017, the share of profit sharing between the government and contractors will be determined after proven reserves of oil and gas are found.

"So, if the level of oil and gas discovery and production is much easier, the profit sharing rate will be greater to the government. However, if in the process of discovery and production is quite difficult, the profit sharing will be greater to the contractor, "he said.

    Ego said the gross profit sharing scheme is fair because the profit-sharing rate is determined by how difficult it is to find and produce oil. He said, the gross split scheme that makes all stakeholders including the government and contractors can manage natural resources more efficiently. So, this scheme makes no harm to the government, contractors, business world, and other related parties, because the oil and gas industry is full of risks.

"Later, the winners of the auction phase I / 2017 will sign contracts in the next 2 weeks or about 14 days," he said.

FOR BASIC RESULT

    Technically, the Director of Upstream Oil and Gas Supervision at the Ministry of ESDM Tunggal said that the profit sharing is determined from base split or basic revenue sharing plus split variable and progressive split.

"The profit sharing split and the progressive split are determined according to the conditions of each contractor's field," he said.

    In Minister of Energy and Mineral Resources Regulation no. 52/2017 on Production Sharing Contracts Gross Split, stated that the basic sharing for petroleum is 57% government and 43% contractor, while natural gas is 52% government and 48% contractor.

    Components of variable outcomes consist of 10 components, namely work area status, field location, depth of reservoir of infrastructure availability, reservoir type, carbon dioxide (CO2) content, hydrogen sulfide (H2S) content, petroleum weight, domestic component level (TKDN) in the field development period, and the production stage.

    In variable revenue sharing, the contractor can get a profit sharing adjustment from 0% to 16% according to the difficulty level of the field. Two conditions that can make the contractor get a 16% revenue-sharing adjustment, such as offshore field location with a depth of 1,000 meters below the hearing, or non-conventional reservoir type.

    Then, the progressive revenue-sharing component consists of the price of oil and gas, and the cumulative amount of oil and gas production. Progressive revenue-sharing adjustment by looking at the price of petroleum is calculated by the formula (US $ 85-ICP) multiplied by 0.25, while for natural gas price is divided into three parts calculated for price category less than US $ 7 per MMBtu, US $ 7 per MMBtu-US $ 10 per MMBtu, and the price is more than US $ 10 per MMBtu.

    In the cumulative calculation of oil and gas production, the contractor can get a profit sharing adjustment from 0% to 10%. The contractor can get a 10% adjustment if the cumulative oil and gas production is below 30 million barrels equivalent. The profit-sharing rate with the gross split scheme for contractors is much larger than the cost recovery scheme. In the cost recovery scheme, oil production sharing for government is 85% and contractor 15%, while for government gas 65% and contractor 35% regardless of field condition of work area and position of oil and gas price.

    Vice President Exploration of PT Saka Energi Indonesia Rovicky Putrohari said, as the winner of the auction on Pekawai Block and West Yamdena Block, the company will know the level of profit sharing if there has been discovery and development towards production.

"If it is not yet known how much CO2, H2S, depth of reservoir, and some other parameters that have just been known after drilling and proof of reserves," he said.

    At the auction stage I / 2017 there are five oil and gas blocks of interest. The winners are in the Andaman I Block, namely Mubadala Petroleum Ltd., the Andaman Il block won by Premier Oil consortium, Krisenergy B \ L and Mubadala, Merak Lampung Bloc won by PT Tansri Madjid Energi, and Pekawai block and West Yamdena won by Saka Energi.

IN INDONESIA

Porsi Bagi Hasil Tunggu Bukti Cadangan

    Porsi bagi hasil kontraktor yang menjadi pemenang dalam lelang lima blok minyak dan gas bumi dengan menggunakan skema bagi hasil kotor atau gross split akan ditetapkan setelah penemuan cadangan migas terbukti. Kepastian bagi hasil itu diperoleh setelah pemenang lelang melakukan kegiatan eksplorasi untuk menemukan cadangan migas terbukti.

    Sementara itu, tanda tangan kontrak untuk para pemenang lelang lima blok migas akan dilakukan 2 pekan lagi. Pelaksana tugas Dirjen Migas Kementerian Energi dan Sumber Daya Mineral (ESDM) Ego Syahrial mengatakan, pada hasil lelang tahap I/2017, porsi bagi hasil antara pemerintah dan kontraktor akan ditentukan setelah cadangan terbukti migas ditemukan.

“Jadi, kalau tingkat penemuan dan produksi migas Iebih mudah, tingkat bagi hasil akan Iebih besar kepada pemerintah. Namun, kalau dalam proses penemuan dan produksi ternyata cukup sulit, bagi hasil yang diberikan akan Iebih besar kepada kontraktor,” ujarnya.

    Ego menyebutkan, skema bagi hasil kotor itu dibilang adil karena tingkat bagi hasil ditentukan dari seberapa sulit menemukan dan memproduksi minyak. Dia menuturkan, skema gross split itu membuat seluruh pihak terkait termasuk pemerintah dan kontraktor dapat mengelola sumber daya alam dengan Iebih efisien. Jadi, skema ini membuat tidak ada yang dirugikan baik pemerintah, kontraktor, dunia usaha, dan pihak terkait lainnya, karena industri migas memang penuh dengan risiko.

“Nantinya, para pemenang lelang tahap I/2017 akan tanda tangan kontrak pada 2 pekan ke depan atau sekitar 14 hari,” tuturnya.

BAGI HASIL DASAR

    Secara teknis, Direktur Pembinaan Usaha Hulu Migas Kementerian ESDM Tunggal mengatakan, bagi hasil ditentukan dari base split atau bagi hasil dasar dan ditambah dengan variable split serta progressive split.

“Bagi hasil pada variable split dan progressive split ditentukan sesuai dengan kondisi lapangan masing-masing kontraktor,” ujarnya.

Dalam Peraturan Menteri ESDM No. 52/2017 tentang Kontrak Bagi Hasil Gross Split, disebutkan bahwa bagi hasil dasar untuk minyak bumi sebesar 57% pemerintah dan 43% kontraktor, sedangkan gas bumi sebesar 52% pemerintah dan 48% kontraktor.

    Komponen bagi hasil variabel terdiri atas 10 komponen, yaitu status wilayah kerja, lokasi lapangan, kedalaman reservoir ketersediaan infrastruktur, jenis reservoir, kandungan karbondioksida (CO2), kandungan hidrogen sulfida (H2S), berat jenis minyak bumi, tingkat komponen dalam negeri (TKDN) dalam masa pengembangan lapangan, dan tahapan produksi.

    Pada bagi hasil variabel, kontraktor bisa mendapatkan penyesuaian bagi hasil dari 0% sampai 16% sesuai dengan tingkat kesulitan lapangan. Dua kondisi yang bisa membuat kontraktor mendapatkan penyesuaian bagi hasil 16%, antara lain lokasi lapangan lepas pantai (offshore) dengan kedalaman 1.000 meter di bawah pemmkaan iaut, atau jenis reservoir non-konvensional.

    Lalu, komponen bagi hasil progresif terdiri atas harga minyak dan gas, dan jumlah kumulatif produksi migas. Penyesuaian bagi hasil dari sisi progresif dengan melihat harga minyak bumi dihitung dengan rumus (US$ 85-ICP) dikalikan 0,25, sedangkan untuk harga gas bumi dibagi menjadi tiga bagian perhitungan untuk kategori harga kurang dari US$ 7 per MMBtu, US$ 7 per MMBtu-US$ 10 per MMBtu, dan harga Iebih dari US$ 10 per MMBtu.

    Dalam perhitungan kumulatif produksi migas, kontraktor bisa mendapatkan penyesuaian bagi hasil dari 0% sampai 10%. Kontraktor bisa mendapatkan penyesuaian 10% kalau kumulatif produksi migas di bawah 30 juta ekuivalen barel. Tingkat bagi hasil dengan skema gros split untuk kontraktor jauh Iebih besar dibandingkan dengan skema cost recovery. Pada skema cost recovery, bagi hasil produksi minyak untuk pemerintah 85 % dan kontraktor 15%, sedangkan untuk gas pemerintah 65 % dan kontraktor 35 % apapun kondisi lapangan wilayah kerja dan posisi harga migas.

    Vice President Exploration PT Saka Energi Indonesia Rovicky Putrohari mengatakan, selaku pemenang lelang pada Blok Pekawai dan Blok West Yamdena, perseroan akan mengetahui tingkat bagi hasil kalau sudah ada penemuan dan pengembangan ke arah produksi.

“Kalau sekarang belum diketahui berapa kandungan CO2, H2S, kedalaman reservoir, dan beberapa parameter lain yang memang baru saja diketahui setelah mengebor serta pembuktian cadangan,” ujarnya.

    Pada lelang tahap I/2017 terdapat lima blok migas yang diminati. Pemenangnya antara lain, pada Blok Andaman I adalah Mubadala Petroleum Ltd., Blok Andaman Il dimenangkan konsorsium Premier Oil, Krisenergy B\L dan Mubadala, Blok Merak Lampung diraih PT Tansri Madjid Energi, dan blok Pekawai serta West Yamdena dimenangkan oleh Saka Energi.

Bisnis Indonesia, Page-30, Friday, Feb 2, 2018

PT Pertamina EP Prepare Capex US $ 755 Million

    PT Pertamina EP, a subsidiary of PT Pertamina (Persero) in oil and gas exploration and production, has budgeted capital expenditure (capex) of USD 755 million (approximately Rp 10 trillion) for this year.

    The amount increased USD 111 million compared to the actual 2014 capex of USD 644 million. Pertamina EP President Director Nanang Abdul Manaf said the funds will be used to drill 12 exploration wells, new plan of development (POD), and drilling 75 development wells.

"Our production target for this year is 83,000 barrels of oil per day (BOPD) and gas of 986 million cubic feet per day (MMSCFD)," he said.

    The company projected this year's revenue of USD 2.728 billion and profit of USD 547 million.

"That is assuming oil price of USD 48 per barrel," he said.

    Nanang admitted that the projection is lower than last year's achievement, in which Pertamina EP booked revenues of USD 2.77 billion and net profit of USD 615 million. The high profit last year was supported by the rise in the company's production at the end of the year as well as world oil prices which at the same time also increased in the range of USD 60-70 per barrel.

"We expect oil prices to remain high, but it appears that the increase is not due to fundamental factors," he said.

    He added that the target of Revenue or Profit this year is also related to lower gas production projection and selling price that did not increase. Regardless, Nanang insists it will remain aggressive in efforts to increase reserves and new oil and gas production.

    As of January 2018, the company's total oil and gas reserves totaled 1,940.15 million barrels of oil equivalent. Meanwhile Pertamina EP's reserve replacement ratio (RRR) reached 14%.

    Director of Exploration and Discovery of New Reserves Alfian Husein added, this year in addition to completing exploration activities in 2017, Pertamina EP will conduct 2D and 3D seismic surveys in South Kalimantan; BD survey in Sorong, Papua; 2D and 3D surveying onshore and offshore in Sulawesi, with total area reaching 1,272 km and 674 sq km.

 
 "For exploration drilling planned 11 wells, namely 4 wells in South Sumatra, 2 in North Sumatra, 4 in West Java, 1 in Sulawesi, plus 1 well in Kalimantan which continued from last year," he said.

IN INDONESIA

PT Pertamina EP Siapkan Capex US$ 755 Juta

    PT Pertamina EP, anak usaha PT Pertamina (Persero) di bidang eksplorasi dan produksi migas menganggarkan belanja modal (capital expenditure/capex) sebesar USD 755 juta (sekitar Rp 10 triliun) untuk tahun ini.

    Jumlah tersebut meningkat USD 111 juta dibandingkan realisasi capex pada 2017 sebesar USD 644 juta. Presiden Direktur Pertamina EP Nanang Abdul Manaf mengatakan, dana tersebut antara lain akan digunakan untuk pengeboran 12 sumur eksplorasi, rencana pengembangan (plan of development/POD) baru, serta pengeboran 75 sumur pengembangan.

"Target produksi kita tahun ini adalah 83.000 barel minyak perhari (BOPD) dan gas 986 juta kaki kubik per hari (MMSCFD),” ujarnya.

    Perusahaan memproyeksikan pendapatan tahun ini sebesar USD 2,728 miliar dan laba USD 547juta.

"Itu dengan asumsi harga minyak USD 48 per barel,” tuturnya.

    Nanang mengakui, proyeksi tersebut lebih rendah dari capaian tahun lalu, di mana Pertamina EP membukukan pendapatan sebesar USD 2,77 miliar dan laba bersih USD 615 juta. Tingginya laba tahun lalu didukung oleh naiknya produksi perusahaan pada akhir tahun serta harga minyak dunia yang pada saat yang sama juga meningkat di kisaran USD 60-70 per barel.

"Kita berharap harga minyak tetap tinggi, tapi kelihatannya kenaikan itu bukan disebabkan faktor fundamental,” ujarnya.

    Dia menambahkan, target Pendapatan ataupun laba tahun ini juga terkait proyeksi produksi gas yang lebih rendah serta harga jualnya yang tidak mengalami kenaikan. Terlepas dari itu, Nanang menegaskan pihaknya akan tetap agresif dalam upaya menambah cadangan serta produksi migas baru.

    Hingga Januari 2018, total cadangan migas perusahaan mencapai 1.940,15 juta barel setara minyak. Sementara reserve replacement ratio (RRR) Pertamina EP mencapai 14%.

    Direktur Eksplorasi dan Penemuan Cadangan Baru Alfian Husein menambahkan, tahun ini selain menyelesaikan kegiatan eksplorasi pada 2017,
Pertamina EP akan melakukan survei seismik 2D dan 3D di Kalimantan Selatan; survei BD di Sorong, Papua; survei 2D dan 3D di darat dan lepas pantai di Sulawesi, dengan total luas mencapai 1.272 km dan 674 km persegi.

 ”Untuk pengeboran eksplorasi direncanakan 11 sumur, yakni 4 sumur di Sumatra Selatan, 2 di Sumatra Utara, 4 di Jawa Barat, 1 di Sulawesi, plus 1 sumur di Kalimantan yang diteruskan dari tahun lalu,” katanya.

Koran Sindo, Page-18, Thursday, Feb 1, 2018

Pertamina picks Omani, Japanese firms

    State-owned energy giant Pertamina has appointed a consortium of Omani and Japanese companies as its partner to develop the new US$10 billion Bontang refinery in East Kalimantan.

    The deal will see Pertamina make no capital contribution for the refinery, which is expected to have an input capacity of 300,000 barrels of oil per day (bopd) once it is operational in 2025. Pertamina began looking for partners in January 2017. 

 Cosmo Oil International

     After selecting eight companies as prospective partners out of around 100 applicants, the state company eventually chose a consortium consisting of Omani energy firm Overseas Oil and Gas (OOG) and Singapore-based Cosmo Oil International, a trading arm of Japan’s Cosmo Energy Holdings.

 

 Overseas Oil and Gas (OOG)

“We picked this consortium based on several considerations. First, OOG will be backed by the Omani government, whether in terms of financing or crude supply. Then, Cosmo Oil will provide technical support and marketing assistance for this project,” Pertamina petrochemical and processing megaproject director Ardhy N. Mokobombang said.

    Ardhy added that the refinery would rely mostly on crude supply from Oman, especially considering the country’s relatively high oil production of around 1 million to 1.2 million bopd compared to Indonesia’s 801,400 bopd as of last year. However, he said Pertamina would still have the right to supply up to 20 percent of the Bontang facility’s crude needs.

“So, if needed, we can utilize Pertamina’s crude stock coming from [our oil fields in] East Kalimantan.”

    Pertamina plans to sign a framework agreement with the consortium soon, before immediately conducting feasibility and engineering studies for the project. Then, it expects to reach the final investment decision (FID) and begin the relinery’s construction process by mid 2020. 

    Pertamina investment planning and risk management director Gigih Prakoso said the consortium would control a 90 percent stake in the project as it would fully fungi Bontang refinery’s development, while Pertamina would own 10 percent without having to inject any capital into the project.

“During the initial preparation phase, Pertamina will only hold a 10 percent stake. But later after the FID has been reached, we will review our status once again, to see whether we have to increase our shares or not in this project,” Gigih said, while adding that this move was needed to reduce Pertamina’s risk exposure.

    Pertamina and the consortium will also conduct joint marketing efforts for Bontang refinery’s products through the establishment of a joint venture (JV ) company. The JV will then enter a Sales and Purchase Agreement (SPA) with Pertamina for marketing the refineiys products domestically, while also looking for and securing export markets if there is excess output from the facility. Ardhy said the JV would prioritize the domestic market, as the type of fuel produced from the Bontang facility would also be designed inline with domestic needs.

“Pertamina is currently upgrading its four refineries and developing two new ones. After the completion of all of those projects, we estimate that our gasoline production will just be on par with domestic consumption levels, while there will be a slight excess in terms of diesel supply,” he added.

    Hence, Pertamina will optimize the production of gasoline and jet fuel from the Bontang facility, while minimizing its diesel output.  Pertamina estimated that it would need around $120 billion to support its business plans within the next decade, one-third of which would be used to finance its various refinery projects.

    This year alone, Pertamina has allocated $5.59 billion in capital expenditure, up 55 percent annually. About 59 percent of the allocated figure will be used to support its upstream business activities, including the development of the newly acquired Mahakam block in East Kalimantan and the Jambaran-Tiung Biru field in East Java.

the Jakarta Post, Page-13, Thursday, Feb 1, 2018

Government Obtains Investment Commitment of US $ 23.6 Million

    The government sets forth five companies as the winners of the 15 oil and gas blocks auction period of 2017 which uses a gross split production sharing scheme (production sharing contract / PSC) for the first time. From this lease, the government obtained the first three year investment commitment of US $ 23.6 million.

Arcandra Tahar 

 
    Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said many companies still have doubts about the gross split PSC. Some companies even ask for time to discuss these new scheme contracts together, including large corporations. However, through this auction, there are oil and gas companies interested in doing business with gross split scheme.

"There are five companies that are interested to run the business in the oil and gas industry in Indonesia," he said after the announcement of the winning bidder of oil and gas blocks in Jakarta.

Ego Syahrial

     Secretary General and Director General of Oil and Gas at the Ministry of ESDM Ego Syahrial explained that until the deadline of the submission of the bid documents, there are seven competing companies who have five oil and gas blocks. The main competition for the Andaman II Block, where there are three companies fighting over it.

"The total commitment value of the five oil and gas blocks won is US $ 23.6 million. While the bonus marks obtained by US $ 3.25 million, "he said.

Far East Premier Consortium Ltd

     The Andaman II block, he said, was won by Far East Premier Consortium Ltd, Kriss Energy (Andaman II) BVI and Mubadala Petroleum (Andaman II JSA) Ltd. Mubadala promises a definite commitment for the first three years of G & G and activities 3D seismic area of ​​1,850 square kilometers (km2) worth US $ 7.55 million. While the signature bonus is given US $ 1 million.

    Next, the Andaman I Block was won by Mubadala Petroleum (SE Asia) Ltd with a definite investment commitment of US $ 2.15 million and a signature bonus of US $ 750 thousand. Furthermore, the Merak-Lampung Block was achieved by PT Tansri Madjid Energi, which promised an investment of US $ 1.32 million and a signature bonus of US $ 500 thousand.

    Meanwhile PT Saka Energy won the Pekawai Block and West Yamdena. In Pekawai, Saka Energi promised an investment commitment of US $ 10.45 million and a signature bonus of US $ 500 thousand. While in West Yamdena, investment commitment to be spent of US $ 2.1 million and signature bonus given US $ 500 thousand.

    The signing of the PSC with the five winners will be made as soon as possible. "Usually within 14 days after they receive," he said.

    Two international companies, Premier Oil and Mubadala Petroleum, followed the auction of the oil and gas block because the rate of investment in Indonesia is still attractive. Another consideration is that oil and gas potential in the company's targeted block is also very promising.

"According to the information everything in the Andaman Block is interesting enough to be explored," said Vice President and Information Service of Premier Oil Indonesia Erfan Chidir.

    Vice President Exploration of PT Saka Energi Indonesia Rovicky Putrohari said the gross split contract scheme is not the only thing that the company consider. Moreover, the gross split scheme is still negotiable with the government. For oil and gas potential in certain blocks is considered good enough, it would be interested to spend the funds in the block.

"In essence, if its potential is indeed large enough, with any scheme may still be interesting," he explained. Two blocks obtained by his side belong to the category that has good enough reserves.

Keep it Fixed

    Meanwhile, this year, Arcandra said it will auction off 25 - 40 oil and gas blocks by mid-February. It promised to make business in the Indonesian oil and gas sector more easy and attractive for investors.

    Previously, through Regulation Men 52/2017 on gross split contract and Government Regulation 53/2017 on gross split taxation, his side has given a number of incentives. Now, the government is finalizing the revision of Government Regulation 35/2004 on upstream oil and gas business activities. A number of improvements are made through this Government Regulation.

 "As the firm commitment can be transferred, the asset used during the exploration can be used in another work area, or if no hydrocarbons are found, the goods purchased can be used by another company by paying import duty," said Arcandra.

    Not only that, the regulation will also provide a legal basis for the opening of existing oil and gas data. The ESDM Ministry will collect data in the Data and Information Center (Pusdatin) and the Special Unit for Upstream Oil and Gas Business Activities (SKK Migas). All data will be accessible, except the data that is still actively used by the company holding the contract.

"In doing the analyzes, the data already in the open, it can be used. Maybe it can be seen, the analysis until basin base, "he said.
    Rovicky said that the plan to collect and open the oil and gas data is very good. Because, during this company difficulties to complete data from oil and gas blocks are targeted. He hoped the block that will be auctioned later can be equipped with data that becomes more attractive to investors.

 
"The data is equipped and indeed has been done early evaluation by ESDM, so when sold it (oil and gas block) interesting. Primarily. how big the potential was, "he said.

    Whether to follow the auction of oil and gas blocks this year, Rovicky said, Saka Energy as an Indonesian company, always evaluate the opportunities that exist in Indonesia. Of the 40 blocks offered this year, around 2030% is considered attractive to develop. While some oil and gas blocks are not attractive not because of fiscal.

"Now we are evaluating again in the same way if all using the gross split is what it is," he said.

IN INDONESIA

Pemerintah Peroleh Komitmen Investasi US$ 23,6 Juta 

    Pemerintah menetapkan lima perusahaan sebagai pemenang dari Ielang 15 blok migas periode 2017 yang menggunakan skema kontrak kerja sama (production sharing Contract/PSC) bagi hasil kotor (gross split) untuk pertama kalinya. Dari leIang ini, pemerintah memperoleh komitmen investasi tiga tahun pertama sebesar US$ 23,6 juta.

    Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, banyak perusahaan yang masih memiliki keraguan dengan PSC gross split. Beberapa perusahaan bahkan sampai meminta waktu untuk mendiskusikan kontrak skema baru ini bersama-sama, termasuk perusahaan besar. Meski demikian, melalui lelang ini, terlihat terdapat perusahaan migas yang tertarik berbisnis dengan skema gross split.

“Ada lima perusahaan yang menyatakan berminat untuk menjalankan bisnis di industri migas di Indonesia,” kata dia usai pengumuman pemenang lelang blok migas di Jakarta.

    Sekretaris Jenderal merangkap Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Ego Syahrial menjelaskan, sampai batas akhir pemasukkan dokumen penawaran, terdapat tujuh bersaing yang memperbutkan lima blok migas. Persaingan utamanya untuk Blok Andaman II, di mana terdapat tiga perusahaan yang memperebutkannya.

“Total nilai komitmen pasti dari kelima blok migas yang dimenangkan yakni US$ 23,6 juta. Sementara bonus tanda langan yang diperoleh US$ 3,25 juta,” ujarnya.

    Blok Andaman II, sebutnya, dimenangkan oleh Konsorsium Premier Oil Far East Ltd, Kriss Energy (Andaman II) BVI dan Mubadala Petroleum (Andaman II JSA) Ltd. Mubadala menjanjikan komitmen pasti tiga tahun pertama berupa kegiatan G&G dan seismik 3D seluas 1.850 kilometer persegi (km2) senilai US$ 7,55 juta. Sementara bonus tanda tangan yang diberikan US$ 1 juta.

    Berikutnya, Blok Andaman I dimenangkan oleh Mubadala Petroleum (SE Asia) Ltd dengan komitmen pasti investasi US$ 2,15 juta dan bonus tanda tangan US$ 750 ribu. Selanjutnya, Blok Merak-Lampung berhasil diraih oleh PT Tansri Madjid Energi yang menjanjikan investasi US$ 1,32 juta dan bonus tanda tangan US$ 500 ribu.

    Sementara PT Saka Energi memenangkan Blok Pekawai dan West Yamdena. Di Pekawai, Saka Energi menjanjikan komitmen investasi US$ 10,45 juta dan bonus tanda tangan US$ 500 ribu. Sementara di West Yamdena, komitmen investasi yang akan dikeluarkan sebesar US$ 2,1 juta dan bonus tanda tangan yang diberikan US$ 500 ribu.

    Penandatangan PSC dengan kelima pemenang akan dilakukan sesegera mungkin. “Bisanya dalam waktu 14 hari setelah mereka terima,” tuturnya.

    Dua perusahaan internasional, Premier Oil dan Mubadala Petroleum, mengikuti lelang blok migas karena menilai investasi di Indonesia masih menarik. Pertimbangan lainnya, potensi migas di blok yang diincar perusahaan juga sangat menjanjikan.

“Menurut informasi semuanya di Blok Andaman cukup menarik dieksplorasi,” kata Vice President and Information Service Premier Oil Indonesia Erfan Chidir.

    Vice President Exploration PT Saka Energi Indonesia Rovicky Putrohari mengatakan, skema kontrak gross split bukanlah satu-satunya hal yang menjadi pertimbangan perusahaan. Apalagi, skema gross split ini masih bisa dinegosiasikan dengan pemerintah. Selama potensi migas dalam blok tertentu dinilai cukup bagus, pihaknya pasti tertarik untuk mengeluarkan dana di blok tersebut.

“Intinya, kalau potensinya itu memang cukup besar, dengan skema apapun mungkin akan masih menarik,” jelasnya. Dua blok yang diperoleh pihaknya termasuk kategori yang memiliki cadangan cukup bagus.

Terus Perbaiki

    Sementara itu, pada tahun ini, Arcandra menyebut bahwa pihaknya akan melelang 25 - 40 blok migas pada pertengahan Februari. Pihaknya menjanjikan akan membuat berbisnis di sektor migas Indonesia semakin mudah dan menarik bagi investor.

    Sebelumnya, melalui Peraturan Men 52/2017 tentang kontrak gross split dan Peraturan Pemerintah 53/2017 tentang perpajakan gross split, pihaknya sudah memberikan sejumlah insentif. Kini, pemerintah seang merampungkan revisi Peraturan Pemerintah 35/2004 tentang kegiatan usaha hulu migas. Sejumlah perbaikan dilakukan melalui Peraturan Pemerintah ini.

 “Seperti firm commitment bisa ditransfer, kemuadian aset yang dipakai selama ekslplorasi bisa digunakan di wilayah kerja lain, atau jika tidak ditemukan hidrokarbon, barang-barang yang dibeli bisa digunakan perusahaan lain dengan membayar import duty," papar Arcandra.

    Tidak hanya itu, lanjumya, regulasi ini juga akan memberikan dasar hukum untuk pembukaan data migas yang ada selama ini. Kementerian ESDM akan mengumpulkan data-data yang ada di Pusat Data dan Informasi (Pusdatin) dan Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Seluruh data akan bisa diakses, kecuali data yang masih aktif digunakan perusahaan yang memegang kontrak.

“Dalam melakukan analisa-analisa, data yang sudah di buka, maka bisa digunakan. Mungkin bisa dilihat, analisanya sampai basin basis,” tuturnya.

    Rovicky menilai rencana untuk mengumpnlkan dan membuka data migas itu sangat bagus. Pasalnya, selama ini perusahaan kesulitan untuk melengkapi data dari blok migas yang diincar. Pihaknya berharap blok yang dilelang nantinya bisa dilengkapi data-nya sehingga menjadi lebih menarik bagi investor.

“Datanya dilengkapi dan memang sudah dilakukan evaluasi awal oleh ESDM, sehingga ketika dijual itu (blok migas) menarik. Utamanya. seberapa besar potensinya tadi,” ujarnya.
   
    Disinggung apakah akan mengikuti lelang blok migas tahun ini, Rovicky menuturkan, Saka Energi sebagai perusahaan Indonesia, selalu mengevaluasi peluang-peluang yang ada di Indonesia. Dari 40 blok yang ditawarkan tahun ini, sekitar 2030% dinilai menarik untuk dikembangkan. Sementara beberapa blok migas tidak menarik bukan karena fiskalnya.

“Sekarang kami evaluasi lagi dengan cara yang sama kalau semuanya menggunakan gross split itu seperti apa,” kata dia.

Investor Daily, Page-9, Thursday, Feb 1, 2018

Investors are interested in Oil and Gas Auction with profit sharing scheme

    Ministry of Energy and Mineral Resources (ESDM) announces the winners of the auction of conventional oil and gas working area using a scheme of contracts for the gross split, the results of the first stage of 2017.

    Based on the data, Oil and Gas Working Area (WA) is the first auction using gross split scheme. The number of WK offered is 10 (ten) Working Area (WA), consisting of 7 Working Area (WA) through direct offer and 3 WK through regular auction.

    The WK auction has been started since late May 2017 and extended four times as it awaits the approval of government regulations on gross split taxation.

    Up to the deadline for submission of participation documents, ie December 29, 2017, there are seven documents of participation for five WKs which subsequently conducted the opening and examination and final assessment by the bid team to provide the winner's recommendation.

    

    The winners of direct offer auction are Mubadala Petroleum (SE Asia) Ltd (Andaman I), Premier Oil consortium Far East Ltd-KrissEnergy (Andaman Il), BV-Mubadala Petroleum (Andaman II ISA) Ltd., PT Tansri Madjid Energy (Merak-Lampung), and PT Saka Sepinggan Energy (Pekawai da West Yamdena).

    As for regular auctions on Kasuri Block III, Block Tongkol, East Tanimbar Block, and Memberamo Bloc no winners. Then the other five conventional Working Area (WA) have not been sought as work areas available and will be offered again in the subsequent supply period of oil and gas  Working Area (WA).

 
    The fixed commitment investment of the five conventional Working Area (WA) amounted to US $ 23,575,000 and a total signature bonus of US $ 3,250,000.

    Implementing Duties of the Director General of Oil and Gas, Ministry of ESDM Ego Syahrial said the profit-sharing scheme between the government and oil and gas investors received a positive response.

"So, the signal during this time that says that the gross split system is only suitable for WK extension was not. This is proven for new Working Area (WA) or Working Area (WA) exploration, of the seven offered, five WK interest, "said Ego Syahrial.

IN INDONESIA

lnvestor minati Lelang Migas dengan skema Bagi Hasil

    Kemenetrian Energi dan Sumber Daya Mineral (ESDM) mengumumkan pemenang lelang wilayah kerja migas konvensional dengan menggunakan skema kontrak bagi hasil gross split, hasil lelang tahap I 2017.

    Berdasarkan data, Wilayah Kerja (WK) migas itu merupakan lelang pertama yang menggunakan skema gross split. Jumlah WK yang ditawarkan ialah 10 (sepuluh) WK, terdiri atas 7 WK melalui penawaran langsung dan 3 WK melalui lelang reguler.

    Lelang WK telah dimulai sejak akhir Mei 2017 dan diperpanjang sebanyak empat kali karena menunggu pengesahan peraturan pemerintah (PP) tentang perpajakan gross split.

    Sampai dengan batas akhir penyampaian dokumen partisipasi yakni 29 Desember 2017, terdapat tujuh dokumen partisipasi untuk lima WK yang selanjutnya dilakukan pembukaan dan pemeriksaan serta penilaian akhir oleh tim penawaran untuk memberikan rekomendasi pemenang.

    Pemenang lelang penawaran langsung di antaranya Mubadala Petroleum (SE Asia) Ltd (Andaman I), konsorsium Premier Oil Far East Ltd-KrissEnergy (Andaman Il), BV-Mubadala Petroleum (Andaman II ISA) Ltd, PT Tansri Madjid Energi (Merak-Lampung), serta PT Saka Energi Sepinggan (Pekawai da West Yamdena).

    Adapun untuk lelang reguler pada Blok Kasuri III, Blok Tongkol, Blok East Tanimbar, dan Blok Memberamo tidak ada pemenang. Kemudian lima WK konvensional lainnya belum diminati menjadi wilayah kerja available dan akan ditawarkan kembali pada periode penawaran WK migas selanjutnya.

    Investasi komitmen pasti dari lima WK konvensional tersebut sebesar US$ 23.575.000 dan total bonus tanda tangan sebesar US$ 3,250,000.

    Pelaksana Tugas Direktur Jenderal Migas, Kementerian ESDM Ego Syahrial mengatakan skema bagi hasil antara pemerintah dan investor migas mendapat sambutan positif.

“Jadi, sinyalemen selama ini yang mengatakan bahwa sistem gross split hanya cocok untuk WK perpanjangan ternyata tidak juga. Ini terbukti untuk WK baru atau WK eksplorasi, dari tujuh yang ditawarkan, lima WK diminati,” jelas Ego Syahrial.

Media Indonesia, Page-17, Thursday, Feb 1, 2018