Pertamina Begins Sharedown Process Right of Participation in Termination Block

PT Pertamina (Persero) has initiated a process of sharedown or partial disposal of participating interest (PI) in termination of oil and gas blocks that have been assigned to the company. The Company expects to have a sharedown process completed this year. Upstream Director of Pertamina Syamsu Alam said the bidding process starts from the oil and gas block where the company's production shafing contract (PSC) is already effective.

The reason, even though the PSC for ten oil and gas blocks have been signed but the contract has not been fully operational since the existing contracts of several oil and gas blocks are still valid. The offer of such participation rights will be phased in accordance with the effectiveness of Pertamina's contract.

"It's started (sharedown), is being prioritized. Of course, we have a contract, "he said.

Working Area Oil and Gas

As reported previously, Pertamina has signed a contract for 11 oil and gas blocks that ended its contract in 2017-2019. For 2018 terminating oil and gas blocks, Pertamina is granted 100% rights over eight blocks, namely Tuban, Ogan Komering, Sanga-Sanga, Southeast Sumatera (SES), North Sumatra Offshore (NSO), East Kalimantan, Attaka and Central Blocks. 

    For blocks that have terminated the old contract and the new contract is effective is the Tuban Block, Ogan Komering, and Attaka. However, the management of the Attaka Block is combined with the East Kalimantan Block whose contract has just been terminated on 24 October.

Subsequently, the Sanga-Sanga Block contract will run out on August 7, SES on September 5, Middle on October 4, and NSO on October 15. For the other two blocks assigned to Pertamina are the Jambi Merang and Raja-Pendopo Blocks. 

     However, the existing contract of both oil and gas blocks has just been completed next year. Thus, Pertamina's contract has just started to be effective next year. Another effective Pertamina contract is for the Mahakam Block. The effective termination block participation contract is targeted for completion this year.

"We expect something to be done this year," Alam said.

Separately, Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto said that many oil and gas companies are interested in purchasing termination block participation rights offered by Pertamina. Some of the oil and gas blocks of Pertamina that interest other oil and gas companies are Mahakam Block, Sanga-Sanga, East Kalimantan and Jambi Merang.

"In Jambi Merang, Repsol and Pacific Oil are interested. Inpex is interested in the Mahakam Block. In Sanga-Sanga, Saka Energy is interested. East Kalimantan, many private companies want to, "he said.

However, the oil and gas company has not officially started negotiations with Pertamina. Because the oil and gas company is waiting Pertamina open the purchase of rights of participation. Pertamina itself is doing the valuation of the rights of the sold participation.

"Pertamina still asks for price valuation and must approve the Regional Finance Management Board (BPKD) and the Attorney General Office, so as not to be mistaken, so as not to be mistaken for BUMN," Djoko said.

Mahakam block

Meanwhile, Syamsu Alam confirmed that Total E & P Indonesie has long declared no interest in joining the Mahakam Block.

"There must be no communication with Total E & P related Mahakam," he said.

Unlike Total, lnpex Corporation Japan, which is a Total E & P Indonesie partner for 50 years working on the Mahakam Block, still wants to be involved in managing the oil and gas block in East Kalimantan. This Inpex interest has been submitted to Pertamina.

"There is communication with us if lnpex wants to participate in the Mahakam Block," Alam said.

In May last year, Total expressed interest in having a share of participation in the Mahakam Block. However, Total wants share ownership of up to 39%, above Pertamina's 30% removable stock limit. This 39% share is a joint for Total and Inpex Corporation which each have a share of 19.5%, if the proposal is approved.

IN INDONESIA

Pertamina Mulai Proses Sharedown Hak Partisipasi di Blok Terminasi

PT Pertamina (Persero) telah memulai proses sharedown atau pelepasan sebagian kepemilikan saham partisipasi (participating interest/PI) di blok migas terminasi yang telah ditugaskan ke perseroan. Perseroan berharap ada proses sharedown yang selesai pada tahun ini. Direktur Hulu Pertamina Syamsu Alam mengatakan, proses penawaran hak partisipasi ini dimulai dari blok migas di mana kontrak kerja sama (production shafing contract/ PSC) perseroan yang sudah berlangsung efektif. 

Pasalnya, meski PSC untuk sepuluh blok migas itu sudah ditandatangani namun kontrak belum seluruhnya beroperasi efektif mengingat kontrak eksisting beberapa blok migas masih berlaku. Sehinggal penawaran hak partisipasi tersebut akan dilakukan bertahap sesuai dengan efektifnya kontrak Pertamina. 

“Sudah dimulai (sharedown), sedang disusun prioritasnya. Tentu yang ditawarkan, kami sudah punya kontraknya,” kata dia.

Seperti diberitakan sebelumnya, Pertamina telah menandatangani kontrak untuk 11 blok migas yang berakhir kontraknya pada 2017-2019. Untuk blok migas terminasi 2018, Pertamina diberi hak 100% atas delapan blok, yakni Tuban, Ogan Komering, Sanga-Sanga, Southeast Sumatera (SES), North Sumatera Offshore (N SO), East Kalimantan, Attaka, dan Blok Tengah. Untuk blok yang telah berakhir kontrak lamanya dan kontrak baru berlaku efektif adalah Blok Tuban, Ogan Komering, dan Attaka. Namun, pengelolaan Blok Attaka digabung dengan Blok East Kalimantan yang kontraknya baru saja terminasi pada 24 Oktober nanti. 

Selanjutnya, kontrak Blok Sanga-Sanga akan habis pada 7 Agustus, SES pada 5 September, Tengah pada 4 Oktober, dan NSO pada 15 Oktober. Untuk dua blok lain yang ditugaskan ke Pertamina adalah Blok Jambi Merang dan Raja-Pendopo. Namun, kontrak eksisting kedua blok migas ini baru saja selesai pada tahun depan. Sehingga, kontrak Pertamina baru saja mulai efektif pada tahun depan. Satu lagi kontrak Pertamina yang sudah berlaku efektif adalah untuk Blok Mahakam. Penawaran hak partisipasi blok terminasi yang sudah efektif kontrak Pertamina tersebut ditargetkan selesai tahun ini. 

“Kami harapkan ada yang bisa selesai tahun ini,” tegas Alam.

Di tempat terpisah, Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto menuturkan, banyak perusahaan migas yang berminat membeli hak partisipasi blok terminasi yang ditawarkan oleh Pertamina. Beberapa blok migas Pertamina yang diminati perusahaan migas lain tersebut adalah Blok Mahakam, Sanga-Sanga, East Kalimantan, dan Jambi Merang.

“Di Jambi Merang, Repsol dan Pacific Oil berminat. Inpex berminat di Blok Mahakam. Di Sanga-Sanga, Saka Energi berminat. East Kalimantan, perusahaan swasta banyak yang mau,” kata dia.

Meski demikian, perusahaan migas tersebut belum resmi mulai negosiasi dengan Pertamina. Pasalnya, perusahaan migas ini menunggu Pertamina membuka penawaran pembelian hak partisipasi. Pertamina sendiri sedang melakukan valuasi hak partisipasi yang dijual itu. 

“Pertamina masih minta valuasi harga dan harus approve Badan Pengelola Keuangan Daerah (BPKD) dan Kejaksaan, supaya tidak salah, agar tidak dikira merugikan BUMN,” kata Djoko.

Blok Mahakam 

Sementara itu, Syamsu Alam membenarkan bahwa Total E&P Indonesie sudah sejak lama menyatakan tidak berminat bergabung mengelola Blok Mahakam. 

“Yang pasti sudah tidak ada komunikasi dengan Total E&P terkait Mahakam,” kata dia.

Namun berbeda dengan Total, lnpex Corporation Japan yang merupakan mitra Total E&P Indonesie selama 50 tahun menggarap Blok Mahakam, tetap ingin terlibat dalam pengelolaan blok migas di Kalimantan Timur tersebut. Minat Inpex ini telah disampaikan kepada Pertamina. 

“Ada komunikasi dengan kami kalau lnpex ingin berpartisipasi di Blok Mahakam,” tutur Alam.

Pada Mei tahun lalu, Total menyatakan berminat memiliki saham partisipasi di Blok Mahakam. Namun, Total menginginkan kepemilikan saham hingga 39%, di atas batas saham yang dapat dilepas Pertamina sebesar 30%. Saham 39% ini merupakan gabungan untuk Total dan Inpex Corporation yang masing-masing memiliki bagian 19,5%, jika usulan itu disetujui.

Investor Daily, Page-9, Wednesday, June 6, 2018

Oil Lifting Next Year Will Decline

Ministry of Energy and Mineral Resources (ESDM) began to discuss the basic assumptions of 2019. In the proposal, revealed the prediction of the decline in oil lifting. ESDM Minister Ignasius Jonan said the assumption of next year's oil lifting is 722,000 - 805,000 barrels per day or barrel oil per day (bopd). The amount is lower than oil lifting in 2017 of 804,000 barrels per day and the target of 2018 by 800,000 barrels per day. While gas is the opposite of oil lifting. The assumption, an increase compared to this year.

"So the production of natural gas is getting bigger and bigger, so the realization until 2018 is 1.15 million, so we propose between 1.2 million to 1.3 million barrels of oil equivalent per day (boepd)," he said at a hearing meeting opinion with the House of Representatives Commission VII, at the House of Representatives Building in Jakarta.

With the increase of gas lifting, helped to increase the projection of oil and gas lifting in 2019 amounted to 1, -9 million to 2.1 million boepd. This assumption is higher than the 2018 State Budget (APBN) of 2 million boepd and higher than the 2017 realization of 1.9 million boepd. While other assumptions are proposed for 2017 kerosene as much as 530,000 kiloliters (kl) 2018 while 2018 agreed 610,000 kl to May realization of distribution of 210,000 kl.

"So if the assumption is equal to the first five months of absorption until the end of the year only about 500,000 kl.Looking more or less the same, we propose between 590,000 kl to - 650,000 kl," he said.

As for the three kg LPG volume is set at 6.3 million metric tons (MT) in 2017. Then increase in 2018 to 6.45 million MT. The realization until May has reached 2.66 million MT. So, in Ramadan and Idul Fitri it is certainly increased approximately as much as 6.45 million MT.

"Our proposal in APBN 2019 is about 6.8 million MT-6.9 Million MT due to the expansion of LPG usage in eastern Indonesia region," he said.

Jonan added, in 2017 subsidies set at Rp 500 per liter and in 2018 also set Rp 500 per liter.

"We propose a 2019 State Budget Revenue Plan (RAPBN) of Rp 1,500 per liter, which is a challenge because our ICP in 2019 is between US $ 60 per barrel - US $ 70 per barrel," he said.

According to Jonan, his party proposes that the Indonesian Crude Price (ICP) price in RAPBN 2018 will be US $ 60 to US $ 70 per barrel. The proposal sees with the ICP movement from 2016 to the realization in May 2018. From January to December 2016 ICP was at US $ 40.13 per barrel. Then in January-December 2017, ICP numbers were at US $ 51.19 per barrel and January-May 2018 was at the level of US $ 65.79 per barrel.

"We propose an assumption between the range of US $ 60 - US $ 70 per barrel," said Jonan.

In addition, in proposing macro assumptions for ICP in RAPBN 2019, the Ministry of Energy and Mineral Resources also looks at the forecast of West Texas Intermediate (WTI) oil price movement based on the show term energy outlook on May 8, 2018 of US $ 60.86 per barrel. Brent oil prices based on Reuter, banking and industry polls were US $ 66.89 per barrel.

IN INDONESIA

Lifting Minyak Tahun Depan Akan Menurun

Kementerian Energi dan Sumber Daya Mineral (ESDM) mulai membahas asumsi dasar tahun 2019. Dalam usulan, terungkap prediksi terjadinya penurunan lifting minyak. Menteri ESDM Ignasius Jonan mengatakan, asumsi lifting minyak tahun depan sebanyak 722.000 - 805.000 barel per hari atau barrel oil per day (bopd). Jumlah itu lebih rendah dibandingkan dengan lifting minyak tahun 2017 sebesar 804.000 barel per hari dan target tahun 2018 sebesar 800.000 barel per hari. Sementara gas kebalikan dari lifting minyak. Asumsinya, terjadi peningkatan dibandingkan tahun ini. 

"Jadi produksi gas bumi ini semakin lama semakin besar, jadi realisasi sampai tahun 2018 sebanyak 1,15 juta. Maka, kami mengusulkan antara 1,2 juta

Sampai 1,3 juta barrel oil equivalent per day (boepd)," katanya dalam rapat dengar pendapat dengan Komisi VII DPR RI, di Gedung Dewan Perwakilan Rakyat di Jakarta.

Dengan peningkatan lifting gas, turut membantu adanya proyeksi peningkatan lifting migas tahun 2019 yakni sebesar 1,-9 juta sampai 2,1 juta boepd. Asumsi ini lebih tinggi dibandingkan Anggaran Pendapatan Belanjan Negara (APBN) 2018 yakni sebesar 2 juta boepd dan lebih tinggi dari realisasi 2017 sebesar 1,9 juta boepd. Sementara angka asumsi lain yang diajukan adalah untuk minyak tanah tahun 2017 sebanyak 530.000 kiloliter (kl) 2018 sementara 2018 disepakati 610.000 kl sampai Mei realisasi penyaluran 210.000 kl.

"Jadi kalau asumsi sama dengan lima bulan pertama penyerapan sampai akhir tahun hanya sekitar 500.000 kl. Ke depan kurang lebih sama, kami usulkan antara 590.000 kl sampai - 650.000 kl," ujarnya.

Adapun juga untuk volume elpiji tiga kg ditetapkan sebesar 6,3 juta metrik ton (MT) pada 2017. Kemudian meningkat pada tahun 2018 menjadi 6,45 juta MT. Adapun realisasi sampai bulan Mei sudah mencapai 2,66 juta MT. Jadi, pada bulan Ramadan dan Idul Fitri ini dipastikan meningkat kira-kira sebanyak 6,45 Juta MT.

"Usulan kita di APBN 2019 sekitar 6,8 Juta MT-6,9 Juta MT karena ada perluasan penggunaan Elpiji di Wilayah Indonesia timur,” katanya.

Jonan menambahkan, pada tahun 2017 subsidi ditetapkan Rp 500 per liter dan tahun 2018 juga ditetapkan Rp 500 per liter. 

"Kami mengusulan Rencana Anggaran Pendapatan Belanja Negara (RAPBN) 2019 Rp 1.500 per liter. Ini tantangannya Karena ICP kita tahun 2019 antara US$ 60 per barel - US$ 70 per barel," katanya.

Menurut Jonan, pihaknya mengusulkan harga minyak Indonesia atau Indonesia Crude Price (ICP) pada RAPBN 2018 sebesar US$ 60 sampai US$ 70 per barel. Usulan itu melihat dengan pergerakan ICP dari tahun 2016 hingga realisasi Mei 2018. Pada Januari sampai Desember 2016 ICP berada di US$ 40,13 per barel. Lalu pada Januari-Desember 2017, angka ICP berada di US$ 51,19 per barel dan Januari-Mei 2018 berada di level US$ 65,79 per barel. 

"Kami mengusulkan asumsi antara kisaran US$ 60 - US$ 70 per barel," kata Jonan.

Selain itu, dalam mengusulkan asumsi makro untuk ICP di RAPBN 2019 Kementerian ESDM juga melihat perkiraan pergerakan harga minyak West Texas Intermediate (WTI) berdasarkan show term energy outlook pada 8 Mei 2018 sebesar US$ 60,86 per barel. Sedangkan harga minyak Brent berdasarkan polling Reuter, perbankan dan industri US$ 66,89 per barel.

Kontan, Page-14, Wednesday, June 6, 2018

Total EP Cancel Entry Block Mahakam

Ministry of Energy and Mineral Resources (ESDM) stated, PT Total EP Indonesie canceled to become partner of PT Pertamina in Mahakam Block. Whereas Minister of Energy and Mineral Resources lgnasius Jonan has given the opportunity to Total EP in order to get 39% stake in Mahakam, or bigger than before that only 30%.

Director of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto asserted, Total EP chose to release the opportunity to have another participating interest or participating interest in the oil and gas block in East Kalimantan. Therefore, Total EP refused to pay the participation rights of Mahakam Block.

"Pertamina is allowed to reduce ownership or share down." Total if you want to go must pay, but Total does not want to pay, "said Djoko.

Others with Inpex Corporation Japan are still interested in becoming partners with Pertamina. Even Inpex has conducted business to business (B to B) talks with Pertamina.

"lnpex is intent, still there," said Djoko.

But so far Djoko not yet know what percentage of participation rights that interest in lnpex Mahakam block. The government set a maximum limit of share down that may be done Pertamina in Mahakam Block is only 39%. The decision aims to maintain existence Pertamina as the operator of the oil and gas block.

"We can reach 39%, as much as 10% is for BUMD, Pertamina must be 51%, so up to 39% can," said Djoko.

In addition to Inpex, there are other oil and gas companies that are also interested to have the right of participation in the Mahakam Block. The oil and gas company is still waiting for Pertamina's official announcement to release part of the participation rights in the Mahakam block.

So far, outside of Total EP and Inpex, the oil and gas company from China Petrochina has expressed interest in the Mahakam block. Petrochina is eyeing a participating interest of about 15% to 20% in the Mahakam Block. Well, to buy shares in the Mahakam Block, In ex or Petrochina must prepare a very large fund. As of December 31, 2017, the asset value of the Mahakam Block is US $ 9.43 billion.

IN INDONESIA

Total EP Batal Masuk Blok Mahakam

Kementerian Energi dan Sumber Daya Mineral (ESDM) menyatakan, PT Total EP Indonesie batal menjadi mitra PT Pertamina di Blok Mahakam. Padahal Menteri ESDM lgnasius Jonan sudah memberikan kesempatan ke Total EP agar bisa mendapatkan 39% saham di Mahakam, atau lebih besar dari sebelumnya yang hanya 30%.

Direktur Migas Kementerian ESDM, Djoko Siswanto menegaskan, Total EP memilih melepas kesempatan memiliki lagi hak partisipasi atau participating interest di blok migas di Kalimantan Timur tersebut. Sebab, Total EP menolak membayar hak partisipasi Blok Mahakam.

"Pertamina itu membolehkan mengurangi kepemilikan atau share down. Total kalau mau masuk harus bayar, tapi Total tidak mau bayar," jelas Djoko.

Lain dengan Inpex Corporation Japan yang menyatakan masih berminat menjadi mitra dengan Pertamina. Bahkan Inpex sudah melakukan pembicaraan secara business to business (B to B) dengan Pertamina. 

"lnpex sudah niat, tetap ada," kata Djoko.

Namun sejauh ini Djoko belum mengetahui berapa persen hak partisipasi yang diminati lnpex di Blok Mahakam. Pemerintah menetapkan batas maksimal share down yang boleh dilakukan Pertamina di Blok Mahakam hanya sebesar 39%. Keputusan tersebut bertujuan untuk menjaga eksistensi Pertamina sebagai operator blok migas tersebut. 

"Kita bisa sampai 39%, sebanyak 10% adalah untuk BUMD, Pertamina harus 51%. Jadi sampai 39% bisa," jelas Djoko.

Selain Inpex, ada perusahaan migas lain yang juga berminat untuk memiliki hak partisipasi di Blok Mahakam. Perusahaan migas tersebut masih menunggu pengumunan resmi Pertamina melepas sebagian hak partisipasi di Blok Mahakam.

Sejauh ini, di luar Total EP dan Inpex, perusahaan migas yang berasal dari China yaitu Petrochina telah menyatakan minat di Blok Mahakam. Petrochina mengincar hak partisipasi sekitar 15% sampai 20% di Blok Mahakam. Nah, untuk membeli saham di Blok Mahakam, ln ex maupun Petrochina harus menyiapkan dana yang sangat besar. Per 31 Desember 2017 nilai aset Blok Mahakam sebesar US$ 9,43 miliar.

Kontan, Page-14, Wednesday, June 6, 2018

Inpex is eyeing Mahakam

Inpex, an oil and gas company from Japan, opens opportunity to PT Pertamina (Persero) to become a partner in the Mahakam block this year. Senior Specialist Media Relations Inpex Corporation Moch. N Kurniawan said that the company is still discussing with the Government of Indonesia and PT Pertamina to participate in the new Mahakam Block Production Sharing Contract (PSC) since 2018.

"Our position is still the same that is interested to participate there [Mahakam Block]," he said.

Previously, Inpex also has a contract in the Mahakam Block of 50% along with Total E & P. After the contract switched to Pertamina, Total E & P was reluctant to partner with Pertamina in the Mahakam Block so that the Inpex contract was also constrained. The reason, Total is reluctant to pay to get a share of participation in the Mahakam Block, while Inpex willing to pay to be able to continue to participate in the block.

the Mahakam Block

Upstream Director of Pertamina Syamsu Alam said the search process of the partners is still in internal discussions of the company. According to him, the company will seek partners for the Mahakam Block, and eight termination blocks into six working areas namely Tuban Block, Ogan Komering, Sanga-sanga, Southeast Sumatra, North Sumatra Offshore Attaka-East Kalimantan and Central Block combined with Mahakam Block.

Working Area Oil and Gas Block

"We will try this year to be completed," he said.

Meanwhile, Inpex can own a stake in Mahakam Block up to 39%. However, the company has not yet determined the number of shares to be held in the Mahakam Block. In the transition process to officially manage, Pertamina claims to successfully reduce the cost of drilling wells in the Mahakam Block up to 23% and 25% faster drilling time. It could make Pertamina get reserve mining potential up to 120%, and get additional reservoir thickness of 115%.

This state-owned company is spending more and US $ 1.7 billion on exploration, development and production activities in 2018. Based on SKK Migas data, the Mahakam Working Area (WK) produces 52,000 barrels of oil and condensate per day and 1,360 million cubic feet natural gas per day. Potential WK Mahakam is still considered promising with proven reserves as of January 1, 2016 of 4.9 TCF of gas, 57 million barrels of oil, and 45 million barrels of condensate.

Through the management of WK Mahakam, Pertamina contributes more than 30% of national oil and gas production throughout 2018. In the 2018 Work Program and Budget Agreement, SKK Migas targets the production of PT Pertamina Hulu Mahakam to be more than 42,000 barrels of oil per day and 916 million feet cubic of natural gas per day.

IN INDONESIA

Inpex Incar Mahakam

Inpex, perusahaan minyak dan gas berasal dari Jepang, membuka peluang kepada PT Pertamina (Persero) untuk menjadi mitra di Blok Mahakam pada tahun ini. Senior Specialist Media Relations Inpex Corporation Moch. N Kurniawan mengatakan pihaknya masih terus berdiskusi dengan Pemerintah Indonesia dan PT Pertamina untuk berpartisipasi dalam Production Sharing Contract (PSC) Blok Mahakam yang baru sejak 2018.

“Posisi kami masih tetap sama yakni berminat berpartisipasi  di sana [Blok Mahakam],” ujarnya.

Sebelumnya, Inpex juga memiliki kontrak di Blok Mahakam sebesar 50% bersama dengan Total E&P. Setelah kontrak beralih ke Pertamina, Total E&P enggan bemitra dengan Pertamina di Blok Mahakam sehingga kontrak Inpex juga terkendala. Alasannya, Total enggan membayar untuk mendapatkan saham partisipasi di Blok Mahakam, sedangkan Inpex mau membayar untuk bisa tetap berpartisipasi di blok itu.

Direktur Hulu Pertamina Syamsu Alam mengatakan proses pencarian mitra masih dalam diskusi internal perseroan. Menurutnya, perseroan akan mencari mitra untuk Blok Mahakam, dan delapan blok terminasi yang menjadi enam wilayah kerja yakni Blok Tuban, Ogan Komering, Sanga-sanga, Southeast Sumatra, North Sumatra Offshore Attaka-East Kalimantan, dan Blok Tengah yang digabung dengan Blok Mahakam.   

"Kami usahakan tahun ini sudah ada yang bisa diselesaikan,” ujarnya.

Adapun, Inpex bisa memiliki kepemilikan saham di Blok Mahakam hingga 39%. Namun, perusahaan itu belum menentukan jumlah saham yang akan dimiliki di Blok Mahakam. Dalam proses peralihan hingga resmi mengelola, Pertamina mengklaim berhasil menekan biaya pengeboran sumur di Blok Mahakam hingga 23% dan waktu pengeboran lebih cepat 25%. Hal itu bisa membuat Pertamina mendapatkan potensi penambangan cadangan sampai 120% , serta memperoleh penambahan ketebalan reservoir sebesar 115%.

Perusahaan milik negara ini mengeluarkan anggaran lebih dan US$ 1,7 miliar untuk kegiatan eksplorasi, pengembangan, dan produksi pada 2018. Berdasarkan data SKK Migas, Wilayah Kerja (WK) Mahakam memproduksi minyak dan kondensat sebanyak 52.000 barel per hari dan 1.360 juta kaki kubik gas bumi per hari. Potensi WK Mahakam dinilai masih menjanjikan dengan cadangan terbukti per 1 Januari 2016 sebesar 4,9 TCF gas, 57 juta barel minyak, dan 45 juta barel kondensat.

Melalui pengelolaan WK Mahakam, Pertamina menjadi penyumbang lebih dari 30% produksi minyak dan gas nasional sepanjang 2018. Pada Persetujuan Program Kerja dan Anggaran 2018, SKK Migas menargetkan produksi PT Pertamina Hulu Mahakam bisa lebih dari 42. 000 barel minyak per hari dan 916 juta kaki kubik gas bumi per hari. 

Bisnis Indonesia, Page-1, Wednesday, June 6, 2018

Total Cancel Join in Mahakam Block

Total E & P Indonesie canceled to join PT Pertamina (Persero) in working on the Mahakam block due to reluctance to buy shares sold by the company. However, lnpex Corporation-Japan said it is still interested to participate in managing the oil and gas block in East Kalimantan.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto said Total has stated that he will not join the Mahakam block. Because the oil and gas company originating from France it wants to obtain ownership of shares in the Mahakam block for free.

the Mahakam block

"Pertamina invites Total E & P Indonesie to enter, but must pay the shares. Total does not want to pay "he said in Jakarta.

In May last year, Total E & P Indonesie expressed interest in having a share of participation in the Mahakam Block. However, Total E & P Indonesie wants share ownership up to 39%, above Pertamina's 30% freely available stock limit. This 39% share is a joint for Total and Inpex Corporation which each have a share of 19.5%, if the proposal is approved. However, Djoko asserted, Total was canceled into the Mahakam.

"Inpex in Mahakam still want, Total seems to have no interest," he said.

However, Inpex has not submitted how much of the desired shares in the Mahakam block. What is clear is that in Mahakam block, Pertamina must become 51% majority shareholder and State-Owned Enterprise (BUMD) must get 10% participating interest in Indonesia.

"So Inpex can own up to 39%," said Djoko.

Inpex has started talks about its interest in holding shares of participation in the Mahakam Block. Later, Inpex must negotiate business with Pertamina. Previously, Upstream Director of Pertamina Syamsu Alam said, opening the opportunity for Total E & P Indonesie to join to manage the block off the coast of East Kalimantan. There is no time limit to when the negotiations take place.

As it is known, Pertamina has signed a new Mahakam Block contract valid from 1 January 2018 at the end of 2015. Under the contract, the company promised a signature bonus of US $ 41 million. In addition, state revenues from production bonuses include US $ 5 million from a cumulative production of 500 million barrels of oil equivalent, of US $ 4 million from a cumulative production of 150 million barrels of oil equivalent, and US $ 4 million from a cumulative production of 1,000 million barrels of oil equivalent.

As for the first three-year investment plan, Pertamina promises, funds amounting to US $ 75.3 million. The details are respectively US $ 1.3 million, then US $ 33.5 million, and US $ 40.5 million. Currently, Pertamina begins to manage the Mahakam block in preparation for operator switching. This is to keep the oil and gas production in the block does not drop dramatically.

IN INDONESIA

Total Batal Gabung di Blok Mahakam

Total E&P Indonesie batal bergabung dengan PT Pertamina (Persero) dalam menggarap Blok Mahakam karena enggan membeli saham yang dijual perseroan. Namun, lnpex Corporation-Japan menyatakan masih berminat ikut mengelola blok migas di Kalimantan Timur tersebut.

Direktur jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto mengatakan, Total sudah menyatakan tidak akan bergabung mengelola Blok Mahakam. Pasalnya, perusahaan migas berasal dari Perancis itu ingin memperoleh kepemilikan saham di Blok Mahakam secara gratis. 

“Pertamina itu mempersilahkan Total E&P Indonesie masuk, tetapi harus membayar saham. Total tidak mau membayar" kata dia di Jakarta.

Pada Mei tahun lalu, Total E&P Indonesie menyatakan berminat memiliki saham partisipasi di Blok Mahakam. Namun, Total E&P Indonesie menginginkan kepemilikan saham hingga 39%, di atas batas saham yang dapat dilepas Pertamina sebesar 30%. Saham 39% ini merupakan gabungan untuk Total dan Inpex Corporation yang masing-masing memiliki bagian 19,5%, jika usulan itu disetujui. Namun, Djoko menegaskan, Total batal masuk ke Mahakam.

“Inpex di Mahakam masih mau, Total sepertinya tidak ada minat,” ujar dia.

Meski demikian, Inpex belum menyampaikan berapa besar saham yang diinginkan di Blok Mahakam. Yang jelas, di Blok Mahakam, Pertamina harus menjadi pemegang saham mayoritas 51% dan Badan Usaha Milik Daerah (BUMD) harus memperoleh hak partisipasi Indonesia sebesar 10%.

“Jadi Inpex bisa memiliki sampai 39%,” tutur Djoko. 

Inpex sudah memulai pembicaraan tentang minatnya memegang saham partisipasi di Blok Mahakam tersebut. Nantinya, Inpex harus negosiasi bisnis dengan Pertamina. Sebelumnya, Direktur Hulu Pertamina Syamsu Alam mengatakan, membuka kesempatan bagi Total E&P Indonesie untuk ikut bergabung mengelola blok di lepas pantai Kalimantan Timur itu. Tidak ada batasan waktu hingga kapan negosiasi berlangsung.  

Seperti diketahui Pertamina telah menandatangani kontrak baru Blok Mahakam yang berlaku mulai 1 Januari 2018 pada akhir 2015 lalu. Dalam kontrak itu, perseroan menjanjikan bonus tanda tangan US$ 41 juta. Selain itu juga penerimaan negara dari bonus produksi meliputi US$ 5 juta dari kumulatif produksi 500 juta barel setara minyak, sebesar US$ 4 juta dari kumulatif produksi 150 juta barel setara minyak, dan US$ 4 juta dari kumulatif produksi 1.000 juta barel setara minyak.

Sementara untuk rencana investasi tiga tahun pertama, Pertamina menjanjikan, dana sebesar US$ 75,3 juta. Rinciannya secara berurutan US$ 1,3

juta, kemudian US$ 33,5 juta, dan US$ 40,5 juta. Saat ini, Pertamina mulai ikut mengelola Blok Mahakam untuk persiapan peralihan operator. Hal ini untuk menjaga agar produksi migas di blok tersebut tidak turun drastis. 

Investor Daily, Page-9, Tuesday, June 5, 2018

Regular Auction of Oil and Gas Blocks Extended

The government extended the period of regular auction process of conventional oil and gas working area 2018 to 3 July. The extension was made due to the deadline of the auction along with the Eid al-Fitr 2018. In its official announcement, the access limit of the regular auction document of the oil and gas block was changed to June 26, 2018. While the deadline for submission of the tender participation documents was revised to July 3. Previously, access to documents was limited to 7 June and the filing of documents on June 19.

"It is prolonged because there is a long the Eid al-Fitr holiday," said Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (EMR) Djoko Siswanto in Jakarta.

This is related to the Joint Decree of the Minister of Religious Affairs, the Minister of Manpower and the Minister of Administrative Reform of the State and Bureaucratic Reform of the Republic of Indonesia concerning the National Holidays and the Together Leave of 2018. Referring to this letter, June 19, which is the deadline for submission of documents for the participation of regular block auctions conventional oil and gas, still including the period of leave with the Eid al-Fitr

Based on the announcement of the EMR Ministry, regular candidate candidates may submit participation documents prior to the deadline by sending directly to the Directorate of Upstream Oil and Gas Business Development. The participating documents submitted will be recorded as auction participant and secured by confidentiality.

As is known, the government auctioned 26 blocks of oil and gas in the year, namely through direct offers and regular auctions. For four of the five oil and gas blocks auctioned through direct deals, the government has set a winner in early May. In detail, East Ganal Block was won by Eni Indonesia Ltd. East Seram by Lion Energy Ltd. Southeast Jambi by Talisman West Bengara Consortium BV-MOECO South Sumatra Co Ltd, and Citarum by PT Cogen Nusantara Energi and PT Green World Nusantara.

As for oil and gas blocks that are still in the process of regular auction there are 19 blocks. In detail, South CPR Nibung Block, Batu Gajah Dua, Air Komering, West Bukit, East Sokang, Banyumas, East Muriah, North Kangean, Andika Bumi Kita, Belayan, West Sangasanga, Suremana I, Southeast Mahakam, Mamuju Manukra, Karaeng, Ebuny, West Berau, and Cendrawasih Bay II.

At the auction of this oil and gas block the government set a minimum investment commitment and signature bonus that must be met by investors. In every oil and gas block, minimum investment commitment requested on average in the form of geological and geophysical (G & G) and seismic studies, only 12 oil and gas blocks are required to drill one exploration well. As for the average signature bonus is set at least US $ 500 thousand.

IN INDONESIA

Lelang Reguler Blok Migas Diperpanjang

Pemerintah memperpanjang jangka waktu proses lelang reguler wilayah kerja migas konvensional 2018 hingga 3 Juli. Perpanjangan dilakukan lantaran batas akhir lelang bersamaan dengan cuti bersama Idul Fitri 2018. Dalam pengumuman resminya, batas akses dokumen lelang reguler blok migas tersebut diubah menjadi 26 Juni 2018. Sementara batas akhir pemasukan dokumen partisipasi lelang direvisi menjadi 3 Juli. Sebelumnya, akses dokumen dibatasi sampai 7 Juni dan pemasukkan dokumen pada 19 Juni.

“Diperpanjang karena ada libur panjang Idul Fitri,” kata Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto di Jakarta.

Hal tersebut terkait dengan Surat Keputusan Bersama (SKB) Menteri Agama, Menteri Ketenagakerjaan dan Menteri Pendayagunaan Aparatur Negara dan Reformasi Birokrasi Republik Indonesia tentang Hari Libur Nasional dan Cuti Bersama Tahun 2018. Mengacu surat ini, 19 Juni yang merupakan batas akhir pemasukan dokumen partisipasi lelang reguler blok migas konvensional, masih termasuk masa cuti bersama Idul Fitri.

Berdasarkan pengumuman Kementerian ESDM, calon peserta lelang reguler dapat memasukkan dokumen partipasi sebelum batas akhir pemasukan

dengan mengirimkan langsung ke Direktorat Pembinaan Usaha Hulu Migas. Dokumen partisipasi yang dimasukkan akan dicatat sebagai peserta lelang dan dijamin kerahasiaannya.

Seperti diketahui, pemerintah melelang 26 blok migas pada tahun, yakni melalui penawaran langsung dan lelang reguler. Untuk empat dari lima blok migas yang dilelang melalui penawaran langsung, pemerintah telah menetapkan pemenang pada awal Mei lalu. Rincinya, Blok East Ganal dimenangkan oleh Eni Indonesia Ltd. East Seram oleh Lion Energy Ltd. Southeast Jambi oleh Konsorsium Talisman West Bengara BV-MOECO South Sumatra Co Ltd, serta Citarum oleh PT Cogen Nusantara Energi dan PT Green World Nusantara.

Sementara untuk blok migas yang masih dalam proses lelang reguler terdapat 19 blok. Rincinya, Blok South CPR Nibung, Batu Gajah Dua, Air Komering, Bukit Barat, East Sokang, Banyumas, East Muriah, North Kangean, Andika Bumi Kita, Belayan, West Sangasanga, Suremana I, Southeast Mahakam, Manakarra Mamuju, Karaeng, Ebuny, West Berau, dan Cendrawasih Bay II.

Pada lelang blok migas ini pemerintah mengatur minimal komitmen investasi dan bonus tanda tangan yang harus dipenuhi investor. Di setiap blok migas, minimal komitmen investasi yang diminta rata-rata berupa studi geologi dan geofisika (G&G) dan seismik, hanya 12 blok migas yang diminta ada pengeboran masing-masing satu sumur eksplorasi. Sementara untuk bonus tanda tangan rata-rata ditetapkan minimal US$ 500 ribu. 

Investor Daily, Page-9, Tuesday, June 5, 2018

5 Projects Will Operate

The Upstream Oil and Gas Upstream Business Unit (SKK Migas) is targeting six upstream oil and gas projects to start producing this year. Head of SKK Migas Amien Sunaryadi said that five of the six projects are targeted to operate in the first quarter of 2018.

Another upstream oil and gas project is expected to operate at full capacity by mid-year, the Block A project by PT Medco E & P Malaka.

"Full scale gas July 2018. Progress already 82.01%. Gas introduce and Julu Rayeu are already flowing to the CPP [central processing unit plant] March 25, 2018, "said Amien.

The Block A production facility in Aceh has a capacity of 3,100 barrels per day (bpd) and gas production of 55 million cubic feet per day (MMscfd). The other five projects have operating schedules in October and December 2018.

Based on data from SKK Migas, two projects scheduled for operation in October 2018, progress to date has reached 90%. The two projects include the optimization of the Lica production facility undertaken by PT Medco E & P Indonesia. Then SP gas field development project by PT PHE ONWJ whose work has reached 92,5%. This achievement has exceeded the planned target of 81.4%.

Its production capacity is 30 MMscfd and its production peak target is the capacity built. SKK Migas noted that the progress of the three projects scheduled to operate in December 2018 is still below 50%.

Ario Damar-Sriwijaya Phase 2 production project with an estimated production peak of production capacity of 20 MMscfd, new development reached 39%.

IN INDONESIA

5 Proyek Akan Beroperasi

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menargetkan enam proyek hulu migas akan mulai berproduksi pada tahun ini. Kepala SKK Migas Amien Sunaryadi mengatakan bahwa lima dari enam proyek tersebut ditargetkan beroperasi pada kuartal I/2018.

Satu proyek hulu migas lainnya diharapkan beroperasi dengan kapasitas penuh pada pertengahan tahun ini, yaitu proyek Blok A oleh PT Medco E&P Malaka.

“Full scale gas Juli 2018. Progresnya sudah 82,01%. Gas introduce dan Julu Rayeu sudah mengalir ke CPP [central processing unit plant] 25 Maret 2018,” ujar Amien.

Proyek fasilitas produksi Blok A di Aceh tersebut memiliki kapasitas fasilitas produksi minyak sebesar 3.100 barel per hari (bph) dan gas sebesar 55 juta kaki kubik per han (MMscfd). Lima proyek lainnya memiliki jadwal operasi pada Oktober dan Desember 2018.

Berdasarkan data SKK Migas, dua proyek yang dijadwalkan beroperasi pada Oktober 2018, progres hingga saat ini telah mencapai 90%. Dua proyek tersebut antara lain optimalisasi fasilitas produksi Lica yang dikerjakan oleh PT Medco E&P Indonesia. Kemudian proyek pengembangan lapangan gas SP oleh PT PHE ONWJ yang pengerjaannya telah mencapai 92,5%. Pencapaian ini telah melebihi dari target yang direncanakan 81,4%.

Kapasitas produksinya sebesar 30 MMscfd dan target puncak produksinya sebesar kapasitas yang dibangun. SKK Migas mencatat progres pengerjaan tiga proyek yang dijadwalkan beroperasi pada Desember 2018 masih di bawah 50%.

Proyek fasilitas produksi Ario Damar-Sriwijaya Phase 2 dengan estimasi puncak produksi sebesar kapasitas produksi 20 MMscfd, pembangunan baru mencapai 39 %.

Bisnis Indonesia, Page-30, Tuesday, June 5, 2018

Government Cuts Project Costs Merakes and IDD

The Ministry of Energy and Mineral Resources (ESDM) managed to cut the cost of two major national oil and gas projects, namely the development of Merakes Field, East Sepinggan Block and Indonesia Deepwater Development Project (IDD) in Makassar Strait.

EMR Deputy Minister of Energy and Mineral Resources, Arcandra Tahar, said that he has approved Merements field plan of development (POD) since last month. In the POD, it cut investment and operating costs from ENI Indonesia's field to US $ 1.08 billion or equivalent to Rp 16 trillion, "ENI (Merake Field) has been approved POD, we cut cost USS 1.08 billion, it is capital expenditure and operational exependiture, ENI also agree, "he said in Jakarta.

He explained that the cost cutting is derived from various ways, including the related procurement system, contract strategy, and the selection of technology. Although the costs are cut, oil and gas production from Merakes Field should not be reduced from the original plan.

"Still the same oil and gas production. If cut costs, production should not go down, "said Arcandra.

Hopefully, the development of Merakes Field can be started as soon as possible. Previously, the Upstream Oil and Gas Upstream Business Unit (SKK Migas) said that Merake Field would generate 150 million cubic feet per day (mmscfd) gas in 2019. The gas production will be channeled to a floating production unit (floating production unit / FPU) of Jangkrik Field, Muara Bakau Block which is also developed by ENI ITALY.

This is possible because when Merake Field is in operation, gas production from Jangkrik Field starts to decline. In the development of Merakes Field, ENI will build a platform, 60 kilometers of undersea pipeline, and drill several wells. Wells drilling at Merakes Field is projected to be done in the fourth quarter of this year. Thus, gas production can be realized in 2019.

In its official statement, ENI ITALY announced the successful drilling and testing of Marekes Well 2 in East Sepinggan Block. Production tests are limited by surface facilities, indicating the ability of the reservoir to produce significant gas. The findings in Merakes are estimated at 2 trillion cubic feet of gas with additional potential that needs to be evaluated.

"The findings in Merakes are estimated at 2 trillion cubic feet of gas with additional potential that needs to be evaluated," it said in an official ENI statement.

ENI is the operator and holder of the majority participation rights in East Sepinggan Block with 85% shares. While the rest is owned by PT Pertamina Hulu Energy. ENI has been operating in Indonesia since 2001 and managing a number of exploration, production and development assets, including Cricket Fields. The other production assets are Sanga-Sanga Block with 16 thousand barrels of oil equivalent per day.

Project Indonesia Deepwater Development

Not only Field Merakes, Arcandra said it also managed to cut the cost of developing IDD Project. "" I cut costnya, "he said. However, Arcandra is still reluctant to specify how the cost cutting successfully done his side. Arcandra had said, it has asked the Chevron from its headquarters in Houston, United States to come to Indonesia. This June, Chevron is expected to submit a proposal for the IDD Project POD. Chevron promised to immediately start the development of this IDD Project.

"They (Chevron) schedulenya fast, already contrived really yesterday. Quickly, first gas is 2023-2024. Previously far back, "he said.

It is optimistic that the target will be achieved because a number of contract strategy has been proposed it. One of them, there will be no prohibition that the company has become the contractor of the FEED design package, to also work on engineering, procurement and construction (EPC) contract package. Saving time can be about 1-2 years.

Chevron IDD project combines four contracts of cooperation namely Ganal, Rapak, Makassar Strait, and Muara Bakau. In the four concessions there are five fields namely Bangka Field, Gehem, Gendalo, Maha and Gandang. Bangka Field has been in production since August 2016 and producing eight liquefied natural gas (LNG) cargo shipped from Bontang LNG Terminal.

"The second phase IDD, which includes Gendalo and Gehem Fields, is estimated to have a total potential of 3 trillion cubic feet (tcf) of gas production.China has actually obtained approval of the IDD project development plan in 2008. However, after the FEED , the cost required to work on this project is two times higher, and Chevron has again submitted the POD revision by the end of 2015. Unfortunately, this POD is returned by the government because it is incomplete.

IN INDONESIA

Pemerintah Pangkas Biaya Proyek Merakes dan IDD

Kementerian Energi dan Sumber Daya Mineral (ESDM) berhasil memangkas biaya dua proyek migas besar nasional, yakni pengembangan Lapangan Merakes, Blok East Sepinggan dan Proyek Indonesia Deepwater Development (IDD) di Selat Makassar.

Wakil Menteri ESDM Arcandra Tahar mengatakan, pihaknya telah menyetujui rencana pengembangan (plan of development/ POD) Lapangan Merakes sejak bulan lalu. Dalam POD tersebut, pihaknya memangkas biaya investasi dan operasi dari lapangan yang digarap ENI Indonesia hingga US$ 1,08 miliar atau setara Rp 16 triliun, “ENI (Lapangan Merakes) sudah disetujui POD-nya, kami cut cost USS 1,08 miliar, itu capital expenditure dan operational exependiture, EN I juga setuju,” kata dia di Jakarta.

Dijelaskannya, pemotongan biaya tersebut diperoleh dari berbagai macam cara, diantaranya terkait sistem pengadaannya, strategi kontraknya, dan pemilihan teknologinya. Meski biaya dipangkas, produksi migas dari Lapangan Merakes ini tidak boleh berkurang dari rencana awal.

“Masih sama produksi migasnya. Kalau cut cost, tidak boleh produksi turun,” tutur Arcandra.

Diharapkannya, pengembangan Lapangan Merakes ini bisa dimulai secepatnya. Sebelumnya, Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyatakan, Lapangan Merakes akan menghasilkan gas sekitar 150 juta kaki kubik per hari/mmscfd pada 2019. Produksi gas ini akan dialirkan ke fasilitas produksi terapung (floating production unit/ FPU) Lapangan Jangkrik, Blok Muara Bakau yang juga digarap ENI ITALY.

Hal ini memungkinkan lantaran pada saat Lapangan Merakes beroperasi, produksi gas dari Lapangan Jangkrik mulai turun. Dalam pengembangan Lapangan Merakes, ENI akan membangun satu anjungan (platform) , pipa bawah laut sepanjang 60 kilometer, dan mengebor beberapa sumur. Pengeboran sumur di Lapangan Merakes diproyeksikan bisa dilakukan pada kuartal keempat tahun ini. Sehingga, produksi gas bisa terealisasi pada 2019.

Dalam keterangan resminya, ENI ITALY mengumumkan keberhasilan pengeboran dan pengetesan Sumur Marekes 2 di Blok East Sepinggan. Tes produksi yang dibatasi oleh fasilitas di permukaan, menunjukkan kemampuan reservoir menghasilkan gas yang cukup signifikan. Temuan di Merakes ini diperkirakan sebesar 2 triliun kaki kubik gas dengan tambahan potensi yang perlu dievaluasi.

“Temuan di Merakes ini diperkirakan sebesar 2 triliun kaki kubik gas dengan tambahan potensi yang perlu dievaluasi,” demikian disebutkan dalam keterangan resmi ENI. 

ENI merupakan operator dan pemegang hak partisipasi mayoritas di Blok East Sepinggan dengan saham 85%. Sementara sisanya dimiliki oleh PT Per-

tamina Hulu Energy. ENI telah beroperasi di Indonesia sejak 2001 dan mengelola sejumlah aset eksplorasi, produksi, dan pengembangan, termasuk Lapangan Jangkrik. Aset produksi lainnya yakni Blok Sanga-Sanga dengan hasil 16 ribu barel setara minyak per hari.

Proyek Indonesia Deepwater Development

Tidak hanya Lapangan Merakes, Arcandra menyatakan pihaknya juga berhasil memangkas biaya pengembangan Proyek IDD.” “Saya cut costnya,” ujar dia. Namun, Arcandra masih enggan merinci berapa pemotongan biaya yang berhasil dilakukan pihaknya. Arcandra sempat menuturkan, pihaknya telah meminta pihak Chevron dari kantor pusatnya di Houston, Amerika Serikat untuk datang ke Indonesia. Pada Juni ini, sedianya Chevron akan mengajukan proposal POD Proyek IDD. Pihak Chevron berjanji akan secepatnya memulai pengembangan Proyek IDD ini.

“Mereka (Chevron) schedulenya cepat, sudah dibikin kok kemarin. Cepat kok, first gas itu 2023-2024. Sebelumnya kan jauh ke belakang,” kata dia.

Pihaknya optimis target tersebut bakal tercapai lantaran sejumlah strategi kontrak telah diusulkan pihaknya. Salah satunya, tidak akan ada lagi larangan bahwa perusahaan yang telah menjadi kontraktor paket desain rinci (fornt end engineering design/ FEED), untuk juga menggarap kontrak paket rekayasa, pengadaan, dan konstruksi (engineering, procurement, and construction / EPC). Penghematan waktu bisa sekitar 1-2 tahun.

Proyek IDD Chevron ini menggabungkan empat kontrak kerja sama yaitu Ganal, Rapak, Makassar Strait, dan Muara Bakau. Dalam keempat konsesi tersebut terdapat lima lapangan yaitu Lapangan Bangka, Gehem, Gendalo, Maha dan Gandang. Lapangan Bangka telah berproduksi sejak Agustus 2016 dan

menghasilkan delapan kargo gas alam cair (liquefied natural gas/ LNG) yang dikapalkan dari Terminal LNG Bontang. 

"IDD tahap kedua, yang meliputi Lapangan Gendalo dan Gehem, diperkirakan memiliki potensi total produksi gas sebesar 3 triliun kaki kubik (trillion cubic feet/ tcf). Chevron sebenarnya telah memperoleh persetujuan rencana pengembangan Proyek IDD pada 2008 lalu. Namun, setelah dilakukan pengerjaan FEED, biaya yang dibutuhkan untuk menggarap proyek ini naik dua kali lebih besar. Selanjutnya, Chevron kembali menyerahkan revisi POD pada akhir 2015. Sayangnya, POD ini dikembalikan oleh pemerintah lantaran tidak lengkap.

Investor Daily, Page-9, Monday, June 4, 2018