Pertamina Will Keep SES Production

PT Pertamina Hulu Energi prepares for the transition period of several termination working areas that have been transferred to the company. One of them is the Southeast Sumatra (SES) working area whose production will be maintained at about 30,000 barrels of equivalent per day. 

    Development Director of Upper Energy Pertamina (PHE) Afif Saifuddin said that the transition period of Southeast Sumatra (SES) working area is ready ahead of the management transition which is still managed by CNOOC. The company has also prepared the transition plan for the management switch since the end of last year.

"We have prepared various strategies to make the transition smooth and smooth," he said.

According to Afif, SES production is currently in the range of 30,000 barrels oil equivalent per day. The Company will also strive to maintain production within the transition periods.

"We are trying to stay in the range of 30,000 barrels of oil equivalent per day," he said.

He admitted that the management of SES is quite challenging because it belongs to one of the working areas that have aged. The age of existing wells in SES is almost the same as in Offshore North West Java (ONWJ).

"We are also identifying more details about it."

Afif explained that the company will also conduct a new drilling at SES. Only, the drilling scheme will be divided in the next few years.

"We will also be selective in the development of SES. If, there is a field that is not productive will also be closed, too, "he said.

The working area of ​​the SES will end its contract in September 2018. PHE commits the first 3 years for development in the SES working area of ​​US $ 130 million.

SES became one of the 2018 termination work areas that required a switchover from the previous operator, CNOOC. In contrast to some 2018 termination areas, such as Tuban, Ogan Komering, and North Sumatra Offshore already managed by Pertamina previously.

In addition to SES, 2018 terminated oil and gas working areas requiring a transitional period is Sanga-Sanga. Previously, the working area to be terminated in August 2018 was managed by VICO and PT Saka Energi Indonesia. Then, there is also Attaka & East Kalimantan which is used as one working area previously managed by Chevron. Upstream Director of PT Pertamina (Persero) Syamsu Alam said that the termination work transition obtained by the company has been processed immediately.

"The problem is that the transition period of 2018 termination work contract with new contract is very close," he said.

Pertamina received eight termination work areas in 2018. This government-owned company also assigned PHE to four working areas, Tuban, Ogan Komering, SES, and NSO. In addition, Pertamina also assigned another subsidiary of PT Pertamina Hulu Indonesia to manage the work area of ​​Sanga-Sanga, Attaka & East Kalimantan, and the Central Block.

IN INDONESIA

Pertamina Akan Jaga Produksi SES

PT Pertamina Hulu Energi mempersiapkan masa transisi beberapa wilayah kerja terminasi yang sudah dialihkan kepada perseroan. Salah satunya, wilayah kerja Southeast Sumatera (SES) yang produksinya akan dijaga sekitar 30.000 barel ekuivalen per hari. Direktur Pengembangan Pertamina Hulu Energi (PHE) Afif Saifuddin mengatakan bahwa masa transisi wilayah kerja Southeast Sumatera (SES) sudah siap menjelang peralihan pengelolaan yang saat ini masih dikelola oleh CNOOC. Perseroan pun sudah mempersiapkan rencana transisi peralihan pengelolaan itu sejak akhir tahun lalu.

“Kami sudah siapkan berbagai strategi agar masa transisi bisa smooth dan lancar,” ujarnya.

Menurut Afif, produksi SES saat ini berada di kisaran 30.000 barel ekuivalen minyak per hari. Perseroan pun akan berupaya untuk bisa mempertahankan produksi dalam periods peralihan tersebut.

“Kami berupaya untuk bisa terjaga di kisaran 30.000 barel ekuivalen minyak per hari," ujarnya.

Dia mengakui bahwa pengelolaan SES memang cukup menantang karena termasuk salah satu wilayah kerja yang sudah uzur. Umur sumur-sumur yang ada di SES hampir sama dengan di Offshore North West Java (ONWJ).

“Kami pun sedang mengidentifikasi Iebih detail hal tersebut.”

Afif menjelaskan bahwa perseroan pun akan melakukan pengeboran baru di SES. Hanya saja, skema pengeboran akan dibagi dalam beberapa tahun ke depan.

“Kami pun akan selektif juga dalam pengembangan SES. Kalau, ada lapangan yang sudah tidak produktif pun akan Iangsung ditutup juga,” ujarnya.

Wilayah kerja SES akan berakhir kontraknya pada September 2018. PHE memberi komitmen pasti 3 tahun pertama untuk pengembangan di wilayah kerja SES senilai US$ 130 juta.

SES menjadi salah satu wilayah kerja terminasi 2018 yang membutuhkan masa peralihan dari operator sebelumnya yakni, CNOOC. Berbeda dengan beberapa wilayah kerja terminasi 2018, seperti Tuban, Ogan Komering, dan North Sumatera Offshore yang memang sudah dikelola oleh Pertamina sebelumnya.

Selain SES, wilayah kerja migas terminasi 2018 yang membutuhkan periode peralihan adalah Sanga-Sanga. Sebelumnya, wilayah kerja yang akan terminasi pada Agustus 2018 itu dikelola oleh VICO dan PT Saka Energi Indonesia. Lalu, ada juga Attaka & East Kalimantan yang dijadikan satu wilayah kerja yang sebelumnya dikelola oleh Chevron. Direktur Hulu PT Pertamina (Persero) Syamsu Alam mengatakan bahwa transisi wilayah kerja terminasi yang didapatkan perseroan sudah langsung diproses secepatnya.

“Soalnya, masa peralihan habis kontrak wilayah kerja terminasi 2018 itu dengan kontrak baru sangat berdekatan,” ujarnya. 

Pertamina mendapatkan delapan wilayah kerja terminasi 2018 tersebut. Perusahaan milik pemerintah ini pun menugaskan PHE pada empat wilayah kerja yakni, Tuban, Ogan Komering, SES, dan NSO. Selain itu, Pertamina juga menugaskan anak usaha lainnya yakni PT Pertamina Hulu Indonesia untuk mengelola wilayah kerja Sanga-Sanga, Attaka & East Kalimantan, dan Blok Tengah.

Bisnis Indonesia, Page-22, Friday, June 22, 2018

RDMP Balikpapan Built End of Year This

PT Pertamina said that the Refinery Development Master Plan or Balikpapan RDMP will be built by the end of 2018. RDMP Balikpapan operation is still in line with the target in 2021. Vice President Corporate Communications of PT Pertamina Adiatma Sardjito said that the company has completed the construction of the dock in Ramadan yesterday. That means the land is clean and ready for development.

"Preparation of jetty infrastructure [dock] has been settled. Later, the jetty will be used to carry the goods development process, "he said.

Adiatma said that the laying of the first stone was just waiting for ceremony only.

"The Minister of Energy and Mineral Resources [Energy and Mineral Resources] lgnasius Jonan has also reviewed," he said.

Meanwhile, in May 2018, Pertamina has just conducted a contractor auction for the construction of Balikpapan RDMP. Pertamina's Pertamina Director of Pertamina's Director of Processing and Petrochemicals Heru Setiawan said that the engineering, procurement and construction (EPC) auction process is targeted to be completed by October 2018. There are about four consortiums involved in the auction.

"Of the four consortiums that consist of foreign contractors and mixed with SOEs," he said.

Heru mentioned that the investment for the Balikpapan refinery project is US $ 4 billion.

"Yes, it can be up to US $ 4 billion for investment."

In addition, the construction of the Balikpapan refinery is also in the process of approving spin off assets. Later, Balikpapan's RDMP refinery increases the production capacity of 100,000 barrels per day. Balikpapan RDMP will produce gasoline quality EURO V. Meanwhile, the development of other refineries such as RDMP Cilacap is also in the process of valuation of assets spin off assets and wait for approval of the Ministry of SOEs. Production for the Cilacap refinery will increase by 50,000 barrels per day.

RDMP Balongan in preparation for strategic review for petrochemical business comprehensively. In the future, Balinese RDMP production could increase by 140,000 barrels per day to 225,000 barrels per day. The Cilacap and Balongan refineries are expected to be completed by 2023.

Then, Grass Root Refinery (GRR) of Tuban is still in the process of solving the land problem. After the problem in obtaining land owned by the Ministry of Environment and Forestry, the company also sought an alternative by using the land of PT Perkebunan Nusantara XI and XII. The production of the Tuban refinery is estimated at 300,000 barrels per day.

Then, the Dumai RDMP process is in the partner selection stage. Later, the Dumai RDMP will produce about 130,000 barrels per day. Tuban GRR and Dumai RDMP are targeted to be completed by 2024.

IN INDONESIA

RDMP Balikpapan Dibangun Akhir Tahun lni

PT Pertamina mengemukakan bahwa Refinery Development Master Plan atau RDMP Balikpapan akan dibangun pada akhir 2018. Operasi RDMP Balikpapan masih sesuai dengan target yakni pada 2021. Vice President Corporate Communication PT Pertamina Adiatma Sardjito mengatakan bahwa perseroan telah merampungkan pembangunan dermaga pada Ramadan kemarin. Hal itu berarti lahan sudah bersih dan siap dilakukan pembangunan.

“Persiapan infrastruktur jetty [dermaga] sudah beres. Nantinya, jetty itu akan digunakan untuk membawa barang-barang proses pembangunan,” ujarnya.

Adiatma menuturkan bahwa peletakan batu pertama pun hanya menunggu seremoni saja. 

“Menteri ESDM [Energi dan Sumber Daya Mineral] lgnasius Jonan juga sudah meninjau,” tuturnya.

Adapun, pada Mei 2018, Pertamina baru saja melakukan lelang kontraktor untuk pembangunan RDMP Balikpapan. Direktur Megaproyek, Pengolahan, dan Petrokimia Pertamina Heru Setiawan menuturkan bahwa proses lelang engineering, procurement and construction (EPC) ditargetkan rampung pada Oktober 2018. Ada sekitar empat konsorsium yang terlibat dalam lelang tersebut. 

“Dari empat konsorsium itu ada yang terdiri atas kontraktor asing dan campuran dengan BUMN,” ujarnya.

Heru menyebutkan bahwa untuk investasi di proyek kilang Balikpapan mencapai US$4 miliar. 

“Ya, bisa sampai US$4 miliar untuk investasinya.”

Selain itu, pembangunan kilang Balikpapan juga dalam proses untuk persetujuan spin off aset. Nantinya, RDMP Kilang Balikpapan ini menambah kapasitas produksi 100.000 barel per hari. RDMP Balikpapan itu nantinya memproduksi kualitas bensin EURO V. Adapun, perkembangan kilang lainnya seperti RDMP Cilacap juga sedang proses valuasi aset spin off aset dan menunggu persetujuan Kementerian BUMN. Produksi untuk kilang Cilacap akan bertambah 50.000 barel per hari. 

RDMP Balongan dalam persiapan kajian strategis untuk bisnis petrokimia secara komprehensif. Nantinya, produksi RDMP Balongan bisa bertambah 140.000 barel per hari sarnpai 225.000 barel per hari. Kilang Cilacap dan Balongan itu diperkirakan rampung 2023.

Lalu, Grass Root Refinery (GRR) Tuban masih dalam tahap penyelesaian persoalan lahan. Setelah bermasalah dalam mendapatkan lahan milik Kementerian Lingkungan Hidup dan Kehutanan, perseroan pun mencari alternatif dengan menggunakan lahan PT Perkebunan Nusantara XI dan XII. Produksi kilang Tuban itu diperkirakan sebesar 300.000 barel per hari.

Lalu, proses RDMP Dumai sedang dalam tahap seleksi mitra. Nantinya, RDMP Dumai akan produksi sekitar 130.000 barel per hari. GRR Tuban dan RDMP Dumai ditargetkan rampung pada 2024.

Bisnis Indonesia, Page-22, Friday, June 22, 2018

Gas Trader is obliged to Sell Gas to PGN and Pertagas

PT Perusahaan Gas Negara Tbk gets additional gas supply from traders

PT Perusahaan Gas Negara Tbk (PGN) will get additional gas supply from the overflow of gas traders. This refers to the Regulation of the Minister of Energy and Mineral Resources (ESDM) No. 6 of 2016 on Provisions and Procedures for the Determination of Allocation and Utilization of Natural Gas Prices. Under the regulation, gas trader permits that do not have gas infrastructure or gas pipeline have to be revoked since February 24, 2018. So the gas allocation they get must be sold to PGN and Pertagas.

The presence of multilevel gas traders causes the price of gas to end consumers to be expensive. If averaged can reach US $ 14 per mmbtu. The regulation also states that gas price margin from gas traders to end-consumers is pegged at most 7%. Then the internal rate of return (IRR) is 11%.

PGN's Commercial Director, Danny Praditya, said that until now, his party and gas traders have completed several gas reallocations. However, there are still some gas traders still in the process of gas reallocation with issuers coded PGAS shares in the Indonesia Stock Exchange (BEI). Danny is optimistic that all gas reallocations from gas traders can be completed in the near future. That way, PGN will have a better gas supply.

"Insha Allah if it is completed this will increase the reliability of supply from PGN especially for East Java," said Danny, Wednesday (20/6)

In May 2017, in East Java, PGN received an additional gas supply from Husky CNOOC Madura Limited of 20 million cubic feet per day (mmscfd) to more than 100 mmscfd for 20 years. Unfortunately, Danny did not explain the total gas supply of PGN in East Java at this time including the total gas supply in Java Island.

However, based on PGN's financial report, in the first quarter of 2018, gas distribution through transmission and distribution pipes was 1,565 mmscfd. The figure is up compared to the distribution in the first quarter of 2017 which recorded about 1, 542 mmscfd.

The government decided to free traders from business to business (B to B) talks with PGN or Pertagas related to gas reallocation. Later the government will issue a Decree of the Minister of EMR related to the reallocation of gas. But of course with the requirements. That is the whole process of reallocation from trader to PGN or Pertagas has been done.

So far the government recorded ten cases of gas distribution in stages by traders. The majority of this gas distribution is done in Java Island. The traders involved usually only have a gas allocation letter from the government. They do not build a gas distribution infrastructure to consumers.

In response, Chairman of the Indonesian Natural Gas Trader Association (INGTA) or the Association of Natural Gas Distributors of Indonesia, Sabrun Jamil admitted gas traders are seeking a business-to-business talks to resolve the problem of gas distribution. Currently, gas traders are also claiming to be awaiting bids from Perusahaan Gas Negara and Pertagas.

"Because they are big players representing government policy," explained Sabrun.

IN INDONESIA

Trader Gas Wajib Jual Gas ke PGN dan Pertagas  

PT Perusahaan Gas Negara Tbk mendapat pasokan gas tambahan dari para trader

PT Perusahaan Gas Negara Tbk (PGN) akan mendapat pasokan gas tambahan dari limpahan para trader gas. Ini merujuk atas Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) Nomor 6 Tahun 2016 tentang Ketentuan dan Tata Cara Penetapan Alokasi dan Pemanfaatan Serta Harga Gas Bumi. Dalam aturan itu, izin trader gas yang tidak memiliki infrastruktur gas alias pipa gas sudah harus dicabut sejak tanggal 24 Februari 2018. Sehingga alokasi gas yang mereka dapatkan harus dijual ke PGN dan Pertagas.

Keberadaan para trader gas bertingkat menyebabkan harga gas sampai ke konsumen akhir menjadi mahal. Jika dirata-rata bisa mencapai US$ 14 per mmbtu. Dalam aturan itu juga menyebut margin harga gas dari trader gas ke konsumen akhir dipatok paling besar 7%. Kemudian internal rate of return (IRR) sebesar 11%.

Direktur Komersial PGN, Danny Praditya mengatakan, sampai saat ini pihaknya dan para trader gas sudah selesai melakukan beberapa realokasi gas. Namun masih ada beberapa trader gas yang masih dalam proses realokasi gas dengan emiten berkode saham PGAS di Bursa Efek Indonesia (BEI) tersebut.

Danny optimistis seluruh realokasi gas dari trader gas bisa selesai dalam waktu dekat. Dengan begitu, PGN akan memiliki pasokan gas yang lebih baik.

"Insya Allah kalau sudah selesai ini akan menambah keandalan pasokan dari PGN terutama untuk di Jawa Timur," kata Danny, Rabu (20/6)

Pada Mei 2017 lalu, di Jawa Timur, PGN mendapat tambahan pasokan gas dari Husky CNOOC Madura Limited sebanyak 20 juta kaki kubik per hari (mmscfd) hingga lebih dari 100 mmscfd selama 20 tahun. Sayangnya, Danny tidak menjelaskan total pasokan gas PGN di Jawa Timur saat ini termasuk total pasokan gas di Pulau Jawa. 

Namun, berdasarkan laporan keuangan PGN, pada kuartal I-2018 lalu, penyaluran gas melalui pipa transmisi dan distribusi sebanyak 1.565 mmscfd. Angka tersebut naik dibandingkan dengan penyaluran pada kuartal I-2017 yang tercatat sekitar 1, 542 mmscfd.

Pemerintah memutuskan membebaskan para trader melakukan pembicaraan business to business (B to B) dengan PGN atau Pertagas terkait realokasi gas. Nantinya pemerintah akan mengeluarkan Keputusan Menteri ESDM terkait realokasi gas. Tapi tentu dengan persyaratan. Yakni seluruh proses realokasi dari trader ke PGN  atau Pertagas sudah selesai dilakukan.

Sejauh ini pemerintah mencatat terjadi sepuluh kasus penyaluran gas secara bertingkat yang dilakukan oleh para trader. Mayoritas penyaluran gas bertingkat ini dilakukan di Pulau Jawa. Para trader yang terlibat biasanya hanya memiliki surat alokasi gas dari pemerintah. Mereka tidak membangun infrastruktur penyaluran gas ke konsumen.

Menanggapi hal itu, Ketua Umum Indonesian Natural Gas Trader Asociation (INGTA) atau Asosiasi Penyalur Gas Alam Indonesia, Sabrun Jamil mengaku trader gas sedang mengusahakan agar terjadi pembicaraan secara business to business untuk menyelesaikan masalah penyaluran gas bertingkat. Saat ini para trader gas juga mengaku sedang menunggu penawaran dari pihak Perusahaan Gas Negara dan Pertagas. 

"Karena mereka pemain besar yang mewakili kebijakan pemerintah," terang Sabrun.

Kontan, Page-14, Thursday, June 21, 2018

Guarding the Refinery

In the National Energy Plan General document, the need for fuel oil reaches 1.76 million barrels per day by 2025. Currently, its demand is about 1.6 million barrels per day, of which about 52 percent is imported. Fuel needs to be imported due to limited domestic oil refining capability.

Currently, kjlang production in the country is only able to meet half of the national fuel needs (BBM). Indonesia has not built a refinery in the past as fuel consumption continues to rise. The last time it was built in 1992 was Balongan refinery in West Java.

As a country that needs more fuel than production capacity, the construction of a refinery is a must. Good news emerged in the reign of Joko Widodo and Jusuf Kalla. Through PT Pertamina (Persero), two new refineries are planned to be built and the existing four refineries capacity is upgraded. Pertamina named the program the Refinery Development Master Plan (RDMP) and Grass Root Refinery (GRB).

The hope, fuel production from the mega project could reach 2 million barrels per day in 2025. Former Pertamina CEO Elia Massa Manik once said, there are certain parties who do not like Indonesia to build a new oil refinery. Thera are The parties have been living from hunting for imports of fuel and crude oil. They are the oil and gas mafia in Indonesia. In addition, continued Massa, building refineries are often tainted with misinformation, such as the huge cost and profits are very small.

In summary, building refineries is not very efficient. Such are the non-technical challenges facing Pertamina with its mega project. Then, how are the construction of the refinery? In a presentation at Commission VII of the House of Representatives (DPR) some time ago, Pertamina said, the RDMP and GRR programs are in the process. 

Physically it has not shown any significant progress. In terms of cost, the entire RDMP and GRR programs are estimated to require an investment of Rp 500 trillion. Of course it is not a small number, even for Pertamina though. Moreover, Pertamina must save money from the business of selling premium and subsidized diesel fuel losers.

The targets for the completion of the project were resigned, from 2023 to 2025. A number of issues became obstacles, including land acquisition and administrative issues in the selection of project partners.

Whatever the circumstances, the RDMP and GRB programs must continue to be guarded. This is a strategic program involving Indonesia's energy security. Moreover, the Priority Infrastructure Provision Acceleration Committee includes RDMP and GRB programs as national strategic projects. Again, this project must really be realized.

As a country whose economy grows and its population increases energy needs becomes vital. After becoming a net oil importer country in 2004, Indonesia is expected to have an additional predicate, namely oil and gas importers.

Having an adequate refinery can reduce dependence on fuel imports. Buying crude oil (raw materials) will be cheaper than buying fuel (finished material). The practice of hunters rente from the import of fuel can also be suppressed. The head of this country, together with Pertamina and supported by the political power of Senayan, must affirm the intention that the construction of the refineries will really be realized.

IN INDONESIA

Mengawal Kilang

Dalam dokumen Rencana Umum Energi Nasional, kebutuhan bahan bakar minyak mencapai 1,76 juta barrel per hari pada 2025. Saat ini, kebutuhannya sekitar 1,6 juta barrel per hari, yang sekitar 52 persennya diimpor. Bahan bakar perlu diimpor lantaran kemampuan kilang minyak di dalam negeri terbatas.

Saat ini, produksi kjlang di dalam negeri hanya mampu mencukupi separuh dari kebutuhan Bahan Bakar Minyak (BBM) nasional. Indonesia sudah lama tidak membangun kilang di saat konsumsi BBM yang terus meningkat. Terakhir kali dibangun pada 1992 yaitu kilang Balongan di Jawa Barat.

Sebagai negara yang kebutuhan BBM-nya lebih banyak daripada kemampuan memproduksi, pembangunan kilang menjadi keharusan. Kabar baik muncul di masa pemerintahan Joko Widodo dan Jusuf Kalla. Melalui PT Pertamina (Persero), dua kilang baru direncanakan dibangun dan kapasitas empat kilang yang ada ditingkatkan. Pertamina menamakan program ini Refinery Development Master Plan (RDMP) dan Grass Root Refinery (GRB). 

Harapannya, produksi BBM dari mega proyek itu bisa mencapai 2 juta barrel per hari pada 2025. Mantan Dirut Pertamina Elia Massa Manik pernah mengatakan, ada pihak-pihak tertentu yang tidak senang Indonesia membangun kilang minyak baru. Para pihak itu selama ini hidup dari memburu rente impor BBM dan minyak mentah. Selain itu, lanjut Massa, membangun kilang kerap diwarnai informasi yang keliru, seperti perlu biaya besar dan keuntungan yang didapat sangat kecil. 

Ringkasnya, membangun kilang tidak terlalu efisien. Begitulah tantangan-tantangan non-teknis yang dihadapi Pertamina dengan mega proyeknya itu. Lalu, apa kabar pembangunan kilang? Dalam paparan di Komisi VII Dewan Perwakilan Rakyat (DPR) beberapa waktu lalu, Pertamina menyebutkan, program RDMP dan GRR sedang dalam proses. Secara fisik memang belum menunjukkan kemajuan signifikan. Adapun dari sisi biaya, seluruh program RDMP dan GRR diperkirakan membutuhkan investasi Rp 500 triliun. Tentu itu bukan angka yang kecil, bahkan bagi Pertamina sekalipun. Apalagi, Pertamina harus berhemat dari bisnis penjualan premium dan solar bersubsidi yang merugi.

Target penyelesaian proyek itu pun mundur, dari semula pada 2023 menjadi 2025. Sejumlah hal menjadi kendala, antara lain pembebasan lahan dan masalah administrasi dalam hal pemilihan mitra proyek.

Apa pun situasinya, program RDMP dan GRB harus terus dikawal. Ini adalah program strategis yang menyangkut ketahanan energi Indonesia. Apalagi, Komite Percepatan Penyediaan Infrastruktur Prioritas memasukkan program RDMP dan GRB sebagai proyek strategis nasional. Sekali lagi, proyek ini harus benar-benar terealisasi.

Sebagai negara yang perekonomiannya berkembang dan penduduknya bertambah kebutuhan energi menjadi vital. Setelah menjadi negara pengimpor bersih minyak pada 2004, Indonesia diperkirakan menyandang predikat tambahan, yaitu pengimpor minyak dan gas bumi. 

Memiliki kilang yang memadai bisa mengurangi ketergantungan pada impor BBM. Membeli minyak mentah (bahan baku) akan lebih murah daripada membeli BBM (bahan jadi). Praktik pemburu rente dari impor BBM juga bisa ditekan. Pemimpin negeri ini, bersama Pertamina dan didukung kekuatan politik dari Senayan, wajib meneguhkan niat agar pembangunan kilang benar-benar terwujud.

Kompas, Page-13, Thursday, June 21, 2018

Momentum Comes, Interesters Sprout

The extension of the auction period of Oil and Gas Working Area 2018 due to leave with Idul Fitri, which also coincided with the momentum of world oil price hike potentially support more potential investors.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, there are 7 companies that have accessed the tender documents until before Eid fitri. The seven companies access 5 oil and gas working areas are auctioned regularly in 2018.

"There is one working area that is accessed by 3 companies. So, there are companies that access 2 working areas, the remaining 1 company access 1 working area, "he said.

However, Arcandra has not specified in detail about the work areas of interest or interested investors as the auction continues.

The Ministry of Energy and Mineral Resources had extended the auction period of regular oil and gas fields in 2018 as it coincided with Eid al-Fitr leave. Initially, access to auction documents for the 2018 oil and gas working area will be done by June 7, 2018, while the return of documents or bid of the working area is no later than June 19, 2018. However, the government decided to leave Eid al-Idid from 11 June 2018 to 20 June 2018.

Thus, the document return period falls together with the end of the leave period with Eid al-Fitr. Therefore, the Ministry of Energy and Mineral Resources extended the access period of documents until June 26, 2018, while the document return period until July 3, 2018. 

     At the auction of regular oil and gas area 2018 there are 19 blocks offered namely, South CPP, Nibung, Batu Gajah Dua, Air Komering, Bukit West, East Sanga, Banyumas, East Muriah, North Kangean, Andika Bumi Kita, Belayan, West Sanga-sanga, Suremana I, South East Mahakam, Mamuju Manukra, Karaeng, Ebuny, West Berau and Cendrawasih Bay I.

Outside the 2018 regular auction, the ESDM Ministry noted that there are already some oil and gas companies interested in joining the study. The ministry also gives a signal there is a potential for 2018 stage auction 2. Director of Upstream Oil and Gas Development of the Ministry of Energy and Mineral Resources Ediar Usman said, there are 5 companies that submitted a joint study plan for direct offer auction 2nd stage 2018.

"So this year there could be 9 working areas through direct offer. Because yesterday there are 4 working areas direct offer "he said.

On the other hand, the 2018 auction momentum coincided with the trend of rising world crude oil prices since the beginning of this year. Hopefully, that momentum encouraging oil and gas investment in Indonesia as well, including specialization in oil and gas working areas auctioned this year.

And Bloomberg data up to Wednesday (20/6), Brent crude oil prices have gone up by 13.65% to US $ 75.66 per barrel compared with the end of the year, while Indonesia Crude Price (ICP) until May 2018 has gone up 11, 56% to US $ 72.46 per barrel.

However, the rise in crude oil prices does not directly stimulate the level of oil and gas investment in Indonesia. Arcandra said that the level of oil and gas investment is related to rising oil prices, but not directly or there is a pause in the transition period. The reason, business actors are waiting and see.

"SoaInya, the nature of oil prices are very volatile, so the possibility of business is still waiting for the right time," he said.

He said, for that Ministry of EMR offers Gross Split contract scheme to replace Cost Recovery.

"The Gross Split scheme will attract oil and gas investment in Indonesia in the future."

Arcandra also highlighted the value of certain commitments of Gross Split contracts in 2018, 2019 and 2020 termination blocks that reach about US $ 1 billion.

"When viewed, the exact commitment level that uses Gross Split is great."

In the definite commitment of 8 termination blocks in 2018, the commitment amount must reach US $ 556.45 million, while in termination blocks 2019 and 2020 reach US $ 580 million.

IN INDONESIA

Momentum Datang, Peminat Bermunculan

Perpanjangan masa lelang Wilayah Kerja migas 2018 karena cuti bersama  idul fitri, yang juga beriringan dengan momentum kenaikan harga minyak dunia berpotensi mendukung lebih banyak calon investor.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, ada 7 perusahaan yang sudah mengakses dokumen lelang sampai sebelum Idul fitri. Ketujuh perusahaan itu mengakses 5 wilayah kerja migas yang dilelang secara reguler pada 2018.

“Ada 1 wilayah kerja yang diakses oleh 3 perusahaan. Jadi, ada perusahaan yang akses 2 wilayah kerja, sisanya 1 perusahaan akses 1 wilayah kerja,” ujarnya.

Namun, Arcandra belum menybutkan secara rinci mengenai wilayah kerja yang diminati maupun investor yang berminat seiring masih berlangsungnya lelang.

Kementerian ESDM sempat memperpanjang masa lelang wilayah kerja migas reguler 2018 karena bersamaan dengan cuti bersama Idul fitri. Awalnya, akses dokumen lelang wilayah kerja migas 2018 paling lambat dilakukan 7 Juni 2018, sedangkan pengembalian dokumen atau bid wilayah kerja paling lambat pada 19 Juni 2018. Namun, pemerintah memutuskan cuti bersama Idul fitri dari 11 Juni 2018 sampai 20 Juni 2018.

Dengan demikian, periode pengembalian dokumen jatuh bersamaan dengan berakhirnya masa cuti bersama Idul fitri. Untuk itu, Kementerian ESDM memperpanjang masa akses dokumen hingga 26 Juni 2018, sedangkan masa pengembalian dokumen hingga 3 Juli 2018. 

      Pada lelang wilayah kerja migas reguler 2018 ada 19 blok yang ditawarkan yakni, South CPP, Nibung, Batu Gajah Dua, Air Komering, Bukit Barat, East Sokang, Banyumas, East Muriah, North Kangean, Andika Bumi Kita, Belayan, West Sanga-sanga, Suremana I, South East Mahakam, Manakarra Mamuju, Karaeng, Ebuny, West Berau, dan Cendrawasih Bay I.

Di luar lelang reguler 2018 itu, Kementerian ESDM mencatat sudah ada beberapa perusahaan migas yang tertarik melakukan join study. Pihak kementerian pun memberikan sinyal ada potensi lelang 2018 tahap 2. Direktur Pembinaan Hulu Migas Kementerian ESDM Ediar Usman mengatakan, sudah ada 5 perusahaan yang mengajukan rencana join study untuk lelang direct offer tahap 2 2018. 

“Jadi tahun ini bisa jadi ada 9 wilayah kerja lewat direct offer. Karena kemarin sudah ada 4 wilayah kerja direct offer” ujarnya.

Di sisi lain, momentum lelang 2018 beriringan dengan tren kenaikan harga minyak mentah dunia sejak awal tahun ini. Harapannya, momentum itu

mendorong gairah investasi migas di Indonesia juga, termasuk peminatan pada wilayah kerja migas yang dilelang pada tahun ini.

Dan data Bloomberg sampai Rabu (20/6), harga minyak mentah Brent sudah naik sebesar 13,65% menjadi US$ 75,66 per barel dibandingkan dengan akhir tahun laiu, sedangkan Indonesia Crude Price (ICP) sampai Mei 2018 sudah naik 11,56% menjadi US$ 72,46 per barel.

Namun, kenaikan harga minyak mentah itu tidak langsung menggairahkan tingkat investasi migas di Indonesia. Arcandra mengatakan, tingkat investasi migas memang berhubungan dengan kenaikan harga minyak, tetapi tidak secara langsung atau ada jeda masa transisinya. Pasalnya, pelaku usaha sedang wait and see.

“SoaInya, sifat harga minyak sangat fluktuatif, jadi kemungkinan pelaku usaha masih menunggu waktu yang tepat,” ujarnya.

Dia menuturkan, untuk itu Kementerian ESDM menawarkan skema kontrak Gross Split menggantikan Cost Recovery.

“Skema Gross Split akan menarik minat investasi migas di Indonesia ke depannya.”

Arcandra pun menyoroti tingkat nilai komitmen pasti kontrak Gross Split pada blok terminasi 2018, 2019, dan 2020 yang mencapai sekitar US$ 1 miliar. 

“Kalau dilihat, tingkat komitmen pasti yang menggunakan Gross Split itu besar.”

Pada komitmen pasti 8 blok terminasi 2018, jumlah komitmen pasti mencapai US$ 556,45 juta, sedangkan pada blok terminasi 2019 dan 2020 mencapai US$ 580 juta.

Bisnis Indonesia, Page-22, Thursday, June 21, 2018

Investment Value of Chevron's New Project Can Be Suppressed

Ministry of Energy and Mineral Resources reduce the value of oil and gas investment to halt cost recovery

The Ministry of Energy and Mineral Resources (ESDM) is very happy. The ultra-deep-sea jumbo gas project in Indonesia aka Deepwater Development (IDD) II in Gendalo-Gehem Field in Makassar Strait will begin operation. In fact, the cost of developing a large project that can be cut very large.

IDD Chevron Phase I in Bangka Field has been operating since 2016. While the certainty of IDD Phase II is still being discussed. Although Chevron previously sent a proposal to develop Gendalo-Geehem with a value of US $ 12 billion. However, as oil prices fell, the project was delayed. Now it continues as oil prices begin to rise to US $ 70 per barrel.

EMR Deputy Minister of Energy and Mineral Resources Arcandra Tahar said Chevron proposed cost-cutting at the Gendalo-Gehem IDD project with a cost cut amount of less than 50% of the previous development plan proposal

"But significant, and big out cost it," he said, Friday (8/6).

With IDD Gendalo-Gehem's investment-cost cuts, the country's cost recovery costs for the project are also reduced. Understandably Chevron's deep-sea gas project is still using the cost recovery revenue scheme. Unfortunately, Arcandra did not want to expose the value of the trimmed investment even though she knew. 

     However, Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto, said the Gendalo-Gehem project cost could be only US $ 10 billion. With this cost cut, the ESDM Ministry will review Chevron's proposed development (POD) plan.

According to the plan, ESDM Minister Ignasius Jonan will issue a decision regarding the development of the Gendalo-Gehem project by the end of June 2018. In April 2018, through Gendalo-Gehem pre-front end engineering and Design (prefeed) which started in December 2017, Chevron claims to have produced optimization of development concepts and basic design simplification.

The optimization shows significant capital development and operational cost reduction. Other cuts are not Chevron's IDD investment cut. Arcandra evidently urged Eni Spa to be the operator of the East Sepinggan Block Merest Field to cut its project investment by US $ 200 million to US $ 1.03 billion. From the previous US $ 1.23 billion.

Then, there is also the investment cuts in the project Jambaran-Tiung Biru field in Block Cepu. ExxonMobil as Pertamina EP Cepu's partners objected to the cut of US $ 550 million to US $ 1.55 billion compared to the initial plan of US $ 2.1 billion. Arcandra said then, EXXonMobil was not willing to finally get EXXonMobil shares bought by Pertamina EP Cepu.

"I said that if the shares are sold to Pertamina, if Pertamina does not want to, I auction, finally they will," he said.

Investment cuts in Jambaran-Tiung Biru make gas prices down.

"So the gas price goes in PLN's economy," he said.

Then, about the project from the original Masela US $ 21 billion to US $ 16 billion, according to Arcandra, from the pruning of the country saving Rp 70 trillion. However, Masela's project recently asked for additional LNG production, so its invention value increased to US $ 18 billion.

"Yes it may increase, but output is up about 30% due to the addition of LNG production," said Arcandra.

IN INDONESIA

Nilai Investasi Proyek Baru Chevron Bisa Ditekan

Kementerian ESDM mengurangi nilai investasi migas untuk mengerem cost recovery

Kementerian Energi dan Sumber Daya Mineral (ESDM) senang sekali. Proyek gas skala jumbo ultra laut dalam alias Indonesia Deepwater Development (IDD) Tahap II di Lapangan Gendalo-Gehem di Selat Makasar akan mulai beroperasi. Bahkan, biaya pengembangan proyek besar itu bisa dipangkas sangat besar.

IDD Chevron Tahap I di Lapangan Bangka sudah beroperasi sejak tahun 2016. Sementara kepastian IDD Tahap II masih terus dibahas. Walaupun sebelumnya Chevron pernah mengirim proposal pengembangan Gendalo-Geehem dengan nilai US$ 12 miliar. Tetapi, karena harga minyak jatuh, proyek itu tertunda. Kini dilanjutkan karena harga minyak mulai naik ke US$ 70 per barel. 

Wakil Menteri ESDM Arcandra Tahar menyebutkan, Chevron mengajukan pemotongan biaya di proyek IDD Gendalo-Gehem dengan jumlah pemotongan biaya kurang dari 50% dari proposal rencana pengembangan sebelumnya

"Tapi signifikan, dan besar out cost-nya," ujarnya, Jumat (8/6).

Dengan pemangkasan investasi IDD Gendalo-Gehem otomatis biaya cost recovery negara untuk proyek tersebut juga berkurang. Maklum proyek gas laut dalam Chevron ini masih memakai skema bagi hasil cost recovery. Sayang, Arcandra tidak ingin membeberkan nilai dari investasi yang terpangkas itu meskipun dia tahu. Tetapi, Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM, Djoko Siswanto yang menyebut biaya proyek Gendalo-Gehem bisa menjadi hanya US$ 10 miliar. Dengan pemotongan biaya tersebut, Kementerian ESDM akan mengkaji plan of development (POD) yang diajukan Chevron.

Rencananya, Menteri ESDM Ignasius Jonan akan memberikan keputusan terkait pengembangan proyek Gendalo-Gehem pada akhir Juni 2018. Pada April 2018 lalu, melalui pre-front end engineering and Design (prefeed) Gendalo-Gehem yang telah dimulai pada Desember 2017, Chevron mengklaim telah menghasilkan optimalisasi konsep pengembangan dan dasar penyederhanaan rancangan.

Optimalisasi tersebut menunjukkan pengembangan modal dan pengurangan biaya operasional yang signifikan. Pemotongan yang lain bukan investasi IDD Chevron saja yang terpotong. Arcandra ternyata pernah mendesak Eni Spa sebagai operator Lapangan Merakes Blok East Sepinggan untuk memangkas investasi proyeknya sebesar US$ 200 juta menjadi US$ 1,03 miliar. Dari sebelumnya US$ 1,23 miliar.

Lalu, ada juga pemangkasan investasi di proyek Lapangah Jambaran-Tiung Biru di Blok Cepu. Saat itu ExxonMobil sebagai mitra Pertamina EP Cepu keberatan dengan pemangkasan US$ 550 juta menjadi US$ 1,55 miliar dibandingkan dengan rencana awal US$ 2,1 miliar. Kata Arcandra saat itu, EXXonMobil tidak bersedia sampai pada akhirnya saham EXXonMobil dibeli Pertamina EP Cepu. 

"Saya katakan kalau begitu sahamnya jual ke Pertamina, kalau Pertamina juga tidak mau, saya lelang. Akhirnya mereka mau," kata dia.

Pemangkasan investasi di Jambaran-Tiung Biru membuat harga gas bisa turun. 

"Sehingga harga gas masuk di keekonomlian PLN," ujar dia.

Lalu, tentang proyek Masela dari semula US$ 21 miliar menjadi US$ 16 miliar, menurut Arcandra, dari pemangkasan itu negara hemat Rp 70 triliun. Namun belakangan proyek Masela meminta penambahan produksi LNG, sehingga nilai invegstasinya bertambah menjadi US$ 18 miliar. 

“Iya mungkin bertambah, tapi output naik sekitar 30% karena penambahan produksi LNG," Kata Arcandra. 

Kontan, Page-14, Wednesday, June 20, 2018

Pertagas Acquisition Process Completed End of June

Pertamina will establish another subholding after sublinging the gas is completed

PT Pertamina (Persero), as the holding holding of BUMN Migas wants to immediately complete the formation of subholding gas. Namely by integrating PT Perusahaan Gas Negara. (PGN) and Pertamina Gas (Pertagas).

Nicke Widyawati

Acting President Director of Pertamina, Nicke Widyawati targets, the acquisition transaction by Pertagas PGN can be completed pacla June 29, 2019.

"So it's still in the process," Nicke said.

According to Nicke, Pertamina and PGN are still in the process of completing Pertagas valuation. Although the Deputy for Mining, Strategic Industries, and Media of State Enterprises Ministry Fajar Harry Sampurno has said the value of Pertagas valuation under US $ 2.5 billion, Nicke said Pertagas valuation process has not been completed.

"After Eid Fitri we finalize," said Nicke.

With Pertagas acquisition process by PGN which will soon be completed, Nicke insists there will be no dismissal of PGN and Pertagas employees. According to him, the government chose the acquisition option rather than continuing the merger between Pertagas and PGN because it did not want to happen the dismissal of employees.

Nicke said, with the acquisition scheme, PGN and Pertagas organizations will remain the same. Meanwhile, with the merger scheme, there will likely be a merger of two organizations, namely PGN and Pertagas. This step would be potentially going to dismiss employees.

"Dimerger or acquisition, then organizational structure will be much different.If the merger is merged, So bottom line commitment is no lay off so we chose the structure 'that does not happen lay off," said Nicke.

According to Nicke, the government plan to merge Pertagas and PGN is not to streamline the organization. On the contrary, with this gas subholding, Pertamina targets the two companies can be bigger. There will be many assignments from Pertamina.

"The company also wants us to raise, maybe even add people, because it needs a lot of people to run the assignment from Pertamina," said Nicke.

In addition to the formation of sublinging gas, Nicke said Pertamina has not yet established another subholding process.

"Sub-stocking gas first formed, then whether the targets we have planned to achieve, we will see," said Nicke.

IN INDONESIA

Proses Akuisisi Pertagas Rampung Akhir Juni

Pertamina akan membentuk subholding Iain setelah subholding gas rampung

PT Pertamina (Persero), sebagai induk holding BUMN Migas ingin segera menyelesaikan pembentukan subholding gas. Yakni dengan mengintegrasikan PT Perusahaan Gas Negara. (PGN) dan Pertamina Gas (Pertagas).

Pelaksana Tugas Direktur Utama Pertamina, Nicke Widyawati menargetkan, transaksi akuisisi oleh Pertagas  PGN bisa selesai pacla 29 Juni 2019 mendatang. 

"Jadi sekarang masih dalam proses," kata Nicke.

Menurut Nicke, Pertamina dan PGN saat ini masih dalam proses menyelesaikan valuasi Pertagas. Meskipun Deputi Bidang Pertambangan, Industri Strategis, dan Media Kementerian BUMN Fajar Harry Sampurno sudah mengatakan nilai Valuasi Pertagas di bawah US$ 2,5 miliar, Nicke menyebut proses valuasi Pertagas belum selesai. 

"Setelah idul fitri kami finalisasi," kata Nicke.

Dengan proses akuisisi Pertagas oleh PGN yang sebentar lagi akan selesai, Nicke menegaskan tidak akan terjadi pemecatan karyawan PGN dan Pertagas. Menurutnya, pemerintah memilih opsi akuisisi daripada melanjutkan merger antara Pertagas dan PGN karena tidak ingin terjadi pemecatan karyawan.

Nicke bilang, dengan skema akuisisi, organisasi PGN dan Pertagas akan tetap sama. Sementara dengan skema merger, kemungkinan akan ada penggabungan dua organisasi, yaitu PGN dan Pertagas. Langkah ini justru akan berpotensi terjadi pemecatan karyawan. 

"Dimerger atau akuisisi, nanti struktur organisasiakan berbeda jauh. Kalau merger digabung, Jadi intinya komitmen tidak ada lay off jadi kami memilih struktur' yang tidak terjadi lay off," tegas Nicke.

Menurut Nicke, rencana pemerintah menggabungkan Pertagas dan PGN bukan untuk melakukan perampingan organisasi. Justru sebaliknya, dengan subholding gas ini, Pertamina menargetkan kedua perusahaan tersebut bisa lebih besar. Akan ada banyak penugasan dari Pertamina.

"Perusahaan juga mau kami besarkan, malah mungki nanti menambah orang, karena perlu banyak orang untuk menjalankan penugasan dari Pertamina," kata Nicke.

Selain pembentukan subholding gas, Nicke menyebut Pertamina belum melakukan proses pembentukan subholding lain. 

"Subholding gas dulu yang terbentuk, kemudian apakah target-target yang kami telah rencanakan tercapai, nanti kami lihat," kata Nicke.

Kontan, Page-14, Tuesday, June 12, 2018

EMR: Split Gross Scheme, Beneficial Country

The Ministry of Energy and Mineral Resources continues to encourage the gross split scheme, especially for 20 oil and gas blocks terminating throughout 2017-2020. EMR claims, this scheme contributes to state finance of US $ 63.2 million. This figure is approximately Rp 847 billion (assuming the rupiah exchange rate is in line with the 2018 State Budjet (APBN) of Rp 13,400 per US dollar).

Such receipts come from signature bonus payments for exploration activities by 20 Contractor Cooperation Contracts (KKKS) upon signing of the contract.

"The contribution of gross split from 20 oil and gas fields could increase the state's finances," said Deputy Minister of Energy and Mineral Resources Arcandra Tahar.

Of the value, the Jambi Merang block is the largest state cash supporter, which is US $ 17.29 million or Rp 231 billion. After that, the Sanga-sanga and South East Sumatra blocks each contribute US $ 10 million or Rp 134 billion. The other blocks are between US $ 500,000 and US $ 1 million. 

     In addition to signature bonuses, the state also has the potential to gain investment by contractors through a Definite Working Commitment. This commitment is agreed to increase reserves and production within the first five year period approved by SKK Migas.

Overall of the 20 oil and gas blocks under the contracting system have a definite commitment of US $ 989.86 million or equivalent to Rp 13.2 trillion. The greatest definite working commitment is in the Jambi Merang block of US $ 2393 million.

IN INDONESIA

ESDM: Skema Gross Split, Menguntungkan Negara  

Kementerian Energi dan Sumber Daya Mineral (ESDM) terus mendorong skema gross split, khususnya untuk 20 blok minyak dan gas (migas) terminasi sepanjang tahun 2017-2020. Klaim ESDM, skema ini menyumbang keuangan negara sebesar US$ 63,2 juta. Angka ini sekitar Rp 847 miliar (asumsi nilai tukar rupiah sesuai dengan APBN 2018 Rp 13.400 per dollar Amerika Serikat).

Penerimaan tersebut berasal dari pembayaran bonus tanda tangan (signature bonus) kegiatan eksplorasi oleh 20 Kontraktor Kontrak Kerjasama (KKKS) saat penandatanganan kontrak. 

"Kontribusi gross split dari 20 lapangan migas mampu menambah keuangan negara," ujar Wakil Menteri ESDM Arcandra Tahar.

Dari besaran nilai tersebut, blok Jambi Merang merupakan pendukung kas negara terbesar, yaitu US$ 17,29 juta atau Rp 231 miliar. Setelah itu Blok Sanga-sanga dan South East Sumatera masing-masing berkontribusi  US$ 10 juta atau Rp 134 miliar. Sementara blok lain antara US$ 500.000 hingga US$ 1 juta. 

     Selain signature bonus, negara juga berpotensi mendapatkan investasi para kontraktor melalui Komitmen Kerja Pasti. Komitmen ini disepakati untuk peningkatan cadangan dan produksi dalam periode lima tahun pertama yang disetujui SKK Migas.

Secara keseluruhan dari 20 blok migas dengan sistem kontrak mendapat komitmen pasti sebesar US$ 989,86 juta atau setara Rp 13,2 triliun. Komitinen kerja pasti terbesar ada pada blok Jambi Merang sebesar US$ 2393 juta.

Kontan, Page-14, Tuesday, June 12, 2018