Refinery Project Targeted to Finish in 2026

PT Pertamina (Persero) is committed to completing a refinery development project and the construction of a new refinery in 2026. The refinery development project is carried out in four refineries, including a refinery specifically processing palm oil. Previously, the mega project was scheduled to be completed in 2024.

Pertamina signed a design, construction and engineering (EPC) contract for the development of the Balikpapan refinery, East Kalimantan, in Jakarta on Monday (12/10/2018). EPC auction winner companies are SK Engineering & Construction Co. Ltd, Hyundai Engineering Co. Ltd, PT Rekayasa Industri, and PT Pembangunan Perumahan (Persero) Tbk.

Pertamina also signed a document on the framework of cooperation with Overseas Oil & Gas (OOG), an oil and gas company from Oman, to build a new refinery in Bontang, East Kalimantan. The Balikpapan refinery development project will begin in January 2019. The schedule given to project implementers is 53 months which is effective from the signing of the contract. The project will increase refinery capacity from 260,000 barrels per day to 360,000 barrels per day with the quality of the fuel produced by the Euro 5 standard.

Nicke Widyawati 

Pertamina's Managing Director Nicke Widyawati acknowledged there was a delay in the construction of a new refinery development and construction project. However, it is still better than no progress at all. It targets the entire refinery development and construction projects to be completed by 2026.

"All will be done in parallel (new refinery development and construction projects). It's better late than nothing, "said

Nicke after signing the contract.

Overseas Oil & Gas (OOG)

As for the new refinery development project in Bontang, OOG has gone through the selection phase since last year. OOG is considered to have strong financial capabilities, including the strength of upstream-downstream businesses. The refinery in Bontang will have a capacity of 300,000 barrels per day.

Pertamina's Director of Processing and Petrochemical Project, Ignatius Tallulembang, added that in the new refinery development project in Bontang, all funding was borne by the OOG. Under the agreement, Pertamina will get a 10 percent golden share. Pertamina as the party that provides land and other supporting infrastructure on this project.

In the long run, Pertamina's shares will be raised to 20 percent or 30 percent. "The new refinery in Bontang will later be integrated with petrochemical products. The investment value is around 10 billion US dollars," Ignatius said.

In that cooperation, OOG is committed to supplying crude oil for refinery needs. The fuel products produced will be fully absorbed by Pertamina. However, there is a chance that Pertamina and OOG will establish a joint venture to sell BBM domestically.

     Meanwhile, Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan claimed to understand why the megaproject developing capacity and construction of new refineries could not be done quickly. The whole set of processes must be carried out carefully. Only, according to him, needs attention to the increasingly rapid development of electricity for transportation that can replace the role of BBM.

"There is a concern that electricity is growing rapidly, why build a refinery? In addition to energy security, building refineries is also for the development of domestic petrochemical industries, "said Jonan.

In addition to the Balikpapan refinery, the refinery development project is also carried out in Cilacap, Central Java; in Balongan, West Java; and in Dumai, Riau. The new refinery to be built, besides in Bontang, is also in Tuban, East Java by Rosneft from Russia. If all the projects are completed, the installed capacity of the refinery will increase from 1 million barrels per day to 2 million barrels per day.

Rosneft Oil Company Russia

Previously, Coordinating Minister for the Economy Darmin Nasution stated that Pertamina must accelerate the realization of new refinery development which is integrated with the petrochemical industry to reduce dependence on imports. Pertamina was also asked to optimize the mandatory B-20 policy. This policy is in the form of mixing biodiesel into diesel fuel so that every liter of diesel fuel contains 20 percent of biodiesel.

IN INDONESIAN

Proyek Kilang Ditargetkan Selesai pada 2026

PT Pertamina (Persero) berkomitmen menyelesaikan proyek pengembangan kilang dan pembangunan kilang baru di tahun 2026. Proyek pengembangan kilang dilakukan di empat kilang, termasuk kilang khusus pengolahan minyak kelapa sawit. Sebelumnya, megaproyek ini dijadwalkan rampung pada 2024.

Pertamina menandatangani kontrak pengerjaan rancangan, konstruksi, dan rekayasa (EPC) untuk pengembangan kilang Balikpapan, Kalimantan Timur, di Jakarta, Senin (10/12/2018). Perusahaan pemenang lelang EPC adalah SK Engineering & Construction Co Ltd, Hyundai Engineering Co Ltd, PT Rekayasa Industri, dan PT Pembangunan Perumahan (Persero) Tbk. 

Pertamina juga menandatangani dokumen kerangka kerja sama dengan Overseas Oil & Gas (OOG), perusahaan migas dari Oman, untuk membangun kilang baru di Bontang, Kalimantan Timur. Proyek pengembangan kilang Balikpapan akan dimulai Januari 2019. Jadwal yang diberikan ke pelaksana proyek adalah 53 bulan yang berlaku efektif sejak penandatangan kontrak. Proyek ini akan menambah kapasitas kilang dari 260.000 barel per hari menjadi 360.000 barel per hari dengan kualitas bahan bakar minyak (BBM) yang dihasilkan berstandar euro 5.

Direktur Utama Pertamina Nicke Widyawati mengakui ada keterlambatan pengerjaan proyek pengembangan dan pembangunan kilang baru. Namun, hal itu masih lebih baik daripada tidak ada kemajuan sama sekali. Pihaknya menargetkan seluruh proyek pengembangan dan pembangunan kilang baru selesai pada 2026. 

”Semua akan dilakukan secara paralel (proyek pengembangan dan pembangunan kilang baru). Lebih baik terlambat daripada tidak sama sekali,” kata Nicke seusai penandatanganan kontrak.

Adapun proyek pembangunan kilang baru di Bontang, OOG sudah melalui tahap seleksi sejak tahun lalu. OOG dinilai punya kemampuan finansial yang kuat, termasuk kekuatan bisnis hulu-hilir. Kilang di Bontang nantinya akan berkapasitas 300.000 barel per hari.

Direktur Mengaproyek Pengolahan dan Petrokimia Pertamina, Ignatius Tallulembang menambahkan, pada proyek pembangunan kilang baru di Bontang, seluruh pendanaan ditanggung OOG. Dalam perjanjian itu, Pertamina akan mendapat golden share 10 persen. Pertamina sebagai pihak yang menyediakan lahan dan infrastruktur pendukung lainnya pada proyek ini.

Dalam jangka panjang, saham Pertamina akan dinaikkan menjadi 20 persen atau 30 persen. Kilang baru di Bontang nanti akan diintegrasikan dengan produk petrokimia, Nilai investasinya sekitar 10 miliar dollar AS,” kata Ignatius.

Dalam kerja sama itu, OOG berkomitmen memasok minyak mentah untuk kebutuhan kilang. Produk Bahan Bakar Minyak (BBM) yang dihasilkan akan diserap sepenuhnya oleh Pertamina. Namun, ada peluang Pertamina bersama OOG mendirikan usaha patungan untuk penjualan BBM didalam negeri.

     Sementara itu, Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan mengaku bisa paham kenapa megaproyek pengembangan kapasitas dan pembangunan kilang baru tidak bisa dikerjakan cepat. Seluruh rangkaian proses mesti dilakukan dengan cermat. Hanya, menurut dia, perlu perhatian terhadap kian pesatnya perkembangan listrik untuk transportasi yang bisa menggantikan peran BBM.

”Ada kekhawatiran kalau listrik semakin pesat, untuk apa membangun kilang? Selain untuk ketahanan energi, membangun kilang juga untuk pengembangan industri petrokimia di dalam negeri,” kata Jonan.

Selain kilang Balikpapan, proyek pengembangan kilang dilakukan juga di Cilacap, Jawa Tengah; di Balongan, Jawa Barat; dan di Dumai, Riau. Adapun kilang baru yang akan dibangun, selain di Bontang, ada juga di Tuban, Jawa Timur oleh Rosneft dari Russia. Apabila semua proyek itu selesai, kapasitas terpasang kilang naik dari 1 juta barel per hari jadi 2 juta barel per hari.

Sebelumnya, Menteri Koordinator Perekonomian Darmin Nasution menyatakan, Pertamina harus mempercepat realisasi pembangunan kilang baru yang terintegrasi dengan industri petrokimia untuk mengurangi ketergantungan pada impor. Pertamina juga diminta mengoptimalkan kebijakan mandatori B-20. Kebijakan ini berupa pencampuran biodiesel ke dalam solar sehingga setiap liter solar mengandung 20 persen biodiesel.

Kompas, Page-14, Tuesday, Dec 11, 2018

Oil Prices Continue to Decline

Pertamina starts drilling wells in Blora

Weakening global economic growth affected the decline in the price of Indonesian crude oil (ICP) in November 2018. The November 2018 ICP also fell in the figure of USD 62.98 per barrel or down by USD 14.58. ICP is the lowest for a period of 6 months.

The Head of the Communication, Public Information Services and Cooperation Ministry of the Ministry of Energy and Mineral Resources, Agung Pribadi explained that US policies that provide exceptions to eight countries to import crude oil from Iran resulted in over supply.

"Stocks of crude oil are abundant on the global market," he said.

Another impact that resulted in oversupply was the abundance of Saudi Arabian crude oil production due to anticipation of sanctions against Iran. and, an increase in the supply of US crude oil by 24.5 million barrels in November 2018. The excess supply is in accordance with the November 2018 International Energy Agency (IEA) publication which states that OPEC crude oil production in October 2018 increased by 127 thousand barrels per day.

In addition, this year's non-OPEC crude oil supply projection increased 170 thousand barrels per day to 60.3 million barrels per day compared to the previous month's projection.

On the other hand, the International Monetary Fund (IMF) projects world economic growth in 2018 to slow down to 3.7 percent. Down 0.2 percent compared to the previous month's projection.

"In the Asia-Pacific region, the decline in crude oil prices is influenced by several factors," he said.

Among other things, the slowdown in China's economic growth due to trade wars with the US and the weakening demand for crude oil and crude oil products from Japan and Korea.

Meanwhile, PT Pertamina EP Asset 4 Cepu Field has begun drilling the North Kedungtuban exploitation well (NIC1-01 TW) in Blora, Central Java. The drilling is targeted to produce 9 MMSCFD gas. Cepu Acting Officer Field Manager Aley Hildan stated that the NKT-01TW well has enormous oil and gas potential.

"The drilling target is about 9 MMSCFD of gas. At present Cepu Field gas production is at 68 MMSCFD," he said.

Drilling of the well took 69 days with a final depth of 2,909 meters. The production of oil and gas Pertamina EP Asset 4 as of November 23, 2018 has reached 17,235 BOPD (barrel oil per day) or around 121.65 percent above the target. The subsidiary of PT Pertamina EP targets the company's oil and gas production this year to reach 14,032 BOPD.

PT Pertamina EP Asset 4 Cepu Field

Significant increase in asset 4 performance is a positive contribution from each field. For example, Cepu, Poleng, Papua, Donggi Matindok, and especially Sukowati Field. The biggest contributor to the increase in production at asset 4 is the Sukowati field with service in several wells, especially for repairing bonding cement.

As of November 29, 2018, Sukowati field oil production has reached 9,697 BOPD. That number exceeded the field's oil production target this year of 8 thousand BOPD. Gas production in asset 4 also reached 184.17 MMSCFD. That figure is more than 13 percent of the gas production target of 157.59 MMSCFD.

IN INDONESIAN

Harga Minyak Terus Melorot

Pertamina Mulai Bor Sumur di Blora

Pertumbuhan ekonomi global yang melemah mempengaruhi penurunan harga minyak mentah Indonesia atau Indonesian crude price (ICP) pada November 2018. ICP November 2018 pun anjlok di angka USD 62,98 per barel atau turun USD 14,58. ICP merupakan terendah selama kurun waktu,6 bulan.

Kepala Biro Komunikasi, Layanan Informasi Publik, dan Kerja Sama Kementerian ESDM Agung Pribadi menjelaskan bahwa kebijakan AS yang memberikan pengecualian kepada delapan negara untuk mengimpor minyak mentah dari Iran mengakibatkan over supply.

"Stok minyak mentah melimpah di pasaran global," ujarnya.

Dampak lain yang mengakibatkan kelebihan pasokan adalah melimpahnya produksi minyak mentah Arab Saudi akibat antisipasi sanksi terhadap Iran. serta, peningkatan pasokan minyak mentah AS sebanyak 24,5 juta barel pada November 2018. Kelebihan pasokan itu sesuai dengan publikasi International Energy Agency (IEA) November 2018 yang menyebutkan produksi minyak mentah OPEC pada Oktober 2018 mengalami peningkatan 127 ribu barel per hari. 

Selain itu, proyeksi pasokan minyak mentah negara-negara non-OPEC tahun ini meningkat 170 ribu barel per hari menjadi 60,3 juta barel per hari jika dibandingkan dengan proyeksi bulan sebelumnya.

Di sisi lain, International Monetary Fund (IMF) memproyeksikan pertumbuhan ekonomi dunia 2018 mengalami perlambatan menjadi 3,7 persen. Turun 0,2 persen jika dibandingkan dengan proyeksi bulan sebelumnya.

"Di kawasan Asia-Pasifik, penurunan harga minyak mentah dipengaruhi beberapa faktor,” katanya. 

Di antaranya, perlambatan pertumbuhan ekonomi Tiongkok akibat perang dagang dengan AS serta melemahnya permintaan minyak mentah dan produk minyak mentah dari Jepang dan Korea. 

Sementara itu, PT Pertamina EP Asset 4 Cepu Field telah memulai pengeboran sumur eksploitasi North Kedungtuban (NIC1-01 TW) di Blora, Jawa Tengah. Pengeboran tersebut ditargetkan dapat menghasilkan gas 9 MMSCFD. Pejabat sementara Cepu Field Manager Aley Hildan menyatakan, sumur NKT-01TW memiliki potensi migas yang sangat besar. 

"Target pengeboran ini adalah gas sekitar 9 MMSCFD. Saat ini produksi gas Cepu Field berada di angka 68 MMSCFD," katanya.

Pengeboran sumur itu membutuhkan waktu 69 hari dengan kedalaman akhir 2.909 meter. Produksi minyak dan gas bumi Pertamina EP Asset 4 per 23 November 2018 telah berhasil mencapai 17.235 BOPD (barrel oil per day) atau sekitar 121,65 persen di atas target. Anak usaha PT Pertamina EP tersebut menargetkan produksi migas perseroan tahun ini bisa mencapai 14.032 BOPD.

Peningkatan signifikan kinerja aset 4 merupakan kontribusi positif dari setiap lapangan. Misalnya, lapangan Cepu, Poleng, Papua, Donggi Matindok, dan terutama Lapangan Sukowati. Kontributor terbesar peningkatan produksi di aset 4 adalah lapangan Sukowati dengan adanya servis di beberapa sumur, terutama untuk perbaikan bonding cement.

Per 29 November 2018, produksi minyak lapangan Sukowati telah mencapai 9.697 BOPD. Angka itu melampaui target produksi minyak lapangan tersebut tahun ini sebanyak 8 ribu BOPD. Produksi gas di aset 4 pun mencapai 184,17 MMSCFD. Angka itu lebih dari 13 persen dari target produksi gas 157,59 MMSCFD.

Jawa Pos, Page-6, Monday, Dec 10, 2018

ENI S.p.A converts to gross split

Rome-based energy company as agreed to change its contract in the East Sepinggan block, offshore East Kalimantan, from cost recovery to gross split scheme, the first existing contractors that voluntarily turned its contract into the new scheme. 

ENI S.p.A

Deputy Energy and Mineral Resources Minister Arcandra Tahar on Tuesday announced also ENI S.p.A preferred to immediately change the contract, to avoid a long debate with the government about the cost of its project in Merakes gas field.

Arcandra Tahar

"The decision shows that the gross split scheme gives investors simple process, which is certainty more efficient,” he told the press, adding that with the decision, italian company is required to change its plan of development for Merakes gas field and to reveal the amount of its investment.

“The company are committed to increase the local content requirement [TKDN] in the project. if the local content level reaches 30 to 50 percent, the company will get a reward in the form of 2 percentage of additional split.”

the East Sepinggan block, offshore East Kalimantan

ENl'S.p.A's contract in East Sepinggan started in july 2012 and would end in 2041. The block's Merakes gas field is targeted to go onstream in 2021 and set to deliver 391 million standard cubic feet per day (mmscfd) of gas in its peak production. 

In East Sepinggan block, ENI S.p.A holds the 85 percent of participating interest and the remaining stake holds by Pertamina Hulu Energi, the upstream subsidiary of state energy holding company Pertamina.

Jakarta Post, Page-14, Thursday, Dec 6, 2018

Double trouble ahead for oil and gas industry

The global oil price, which is predicted to be far lower than US$ 100 per barrel, and a small fund for exploration are two challenges the oil and gas industry would face next year, according to the Indonesia Petroleum Association (IPA) on Wednesday.

The statement came after the association gathered for its 4-7th annual general meeting on Wednesday to elect a new President for a one-year term and to review its workin 2018.

Despite the challenges, the association’s newly elected President Tumbur Parlindungan said the association was still upbeat and would work closely with the government to overcome the problems, especially on the exploration issue. 

“Next year we will strive to make our industry much more attractive [than other countries], after what has actually been a great year for us,” he said at a press conference.

The need for exploration to find oil and gas reserves in the country was voiced two days ago by Energy and Mineral Resources Minister Ignasius Jonan during the inauguration of Dwi Soetjipto as the new head of the Upstream Oil and Gas Regulatory Task Force (SKK Migas).

The message was timely considering around 77 percent of 89 onstream oil and gas blocks have seen declining production. Indonesia is a net oil importer because domestic oil output can only supply half of oil demand.

Aside from the low oil price and the exploration issue, IPA will also deal with Government Regulation No. 27/2017 on taxin-centives for exploration activities and implementation of the gross split scheme.

Throughout 2018, the association, which consists of 37 oil and gas companies and 116 services firms, has solved at least four government-related issues, says Ronald Gunawan, the former IPA president director.

“First, a partnership with SKK Migas and the Finance Ministry on gross split implementation and second, a revision of the Trade Ministry’s decision to include the oil and gas sector in the letter of credit policy” said Ronald, who is also the chief operating oflicer of publicly listed energy company Medco Energi.

The remaining two issues were the simplification of a state audit into the sector from three times by different auditors to only one time and cooperation With the Corruption Eradication Commission (KPK) on business ethics compliance.

Tumbur said the governments decision 'to simplify the production sharing contract from cost recovery to gross split was seen as a “non issue” inside the association.

ENI S.p.A [an Italy-based energy Firm]

“Whether it is cost recovery or gross split, We think it Would be no problem for us. For example just yesterday ENI S.p.A [an Italy-based energy Firm] has approve e conversion of their contract,” he added. 

East Sepinggan block, offshore East Kalimantan

It was the contractin East Sepinggan block, offshore East Kalimantan that, according to Deputy Energy and Mineral Resources MinisterArcandra Tahar; needed to be switched to avoid debates about the cost of the project.

Tumbur, Who is also the president director of Saka Energy added that IPA was set to hold a strategic meeting in January 2019 to discuss other common issues in the upstream sector

Saka Energy is an upstream subsidiary of state gas firm PT Perusahaan Gas Negara. Data from SKK Migas show that investment in the upstream sector until September only reached $7.9 billion, or around 56 percent of the full year target of US$ 14.2 billion. Therefore, SKK Migas has predicted investment realization in the upstream sector to only reach $ 11.2 billion, or 78 percent of the full year target.

The global oil price, which is crucial for an oil and gas contractor to decide whether exploration is connnercially viable or not, has been predicted to hover at a stable rate of around US$ 65 to US$ 70 per barrel, said global energy think tank Wood Mackenzie recently Mackenzie believes the stable price is predicted to occur with the lower global oil supply due to the ongoing United States trade sanctions imposed on Iran, which will be complemented by the increasing oil production from the US.

Jakarta Post, Page-13, Thursday, Dec 6, 2018

IPA Encourages Increased Indonesian Competitiveness

The Indonesian Petroleum Association (IPA) will encourage an increase in Indonesia's competitiveness in the world upstream oil and gas industry. Because, even though Indonesia has fixed its investment climate for upstream oil and gas, various countries are also competing to attract investors.

The Indonesian Petroleum Association (IPA)

IPA Chairman Tumbur Parlindungan said, next year, his party would expand collaboration with the government, not limited to the Ministry of Energy and Mineral Resources (ESDM). This is to make the national oil and gas investment climate more attractive. In 2018, IPA has coordinated with the Ministry of Finance and the Ministry of Trade.

"In 2019, we expand to other (ministries / institutions) to encourage investors to Indonesia," he said at a press conference in Jakarta.

This is because Indonesia's oil and gas potential is actually still very promising and can continue to be developed as one of the main objectives to support the Indonesian economy. But seeing the still unstable world oil prices and the limited available funds for exploration and investment, investors are very selective in choosing which countries they will invest. With members of oil and gas companies from various countries, IPA can provide input what other countries do to attract investment.

"What is the upstream oil and gas industry in other countries, every country makes it more competitive. We give information to the government, that's what we work with the government, "said Tumbur.

One of the things that will be done by IPA is to ensure that the implementation of new regulations issued by the government can operate properly. One of these rules is Government Regulation Number 27 of 2017 which contains tax provisions and a list of incentives for oil and gas companies

using the scheme of production sharing contracts (PSC) that can be returned (cost recovery). In addition, the implementation of gross split PSC.

"There are some regulations that are still being discussed. "We don't want the government to make a rule for loopholes," said Tumbur.

IPA Director Ronald Gunawan added that the condition of the national upstream oil and gas industry had improved, along with the increase in crude oil prices compared to 2017. This can be seen from the interest of the six oil and gas blocks offered by the government. Then, the government has also determine the fate of the PSC that has expired. Regarding the gross split PSC, he said, the oil and gas industry players did not see this as a problem.

Eni Indonesia

"We in the industry have no problem whether the PSC is gross split or cost recovery. We saw that one of our members, Eni, changed the East Sepinggan PSC to a gross split. That also shows we are moving forward, "he said.

In the past two years, the Government has worked hard in an effort to attract oil and gas investors to invest in Indonesia. The government aggressively offers new working areas and improves regulations related to the oil and gas industry in 2018. Until now there have been as many as 34 oil and gas blocks offered by the Government using gross split schemes.

The IPA records several improvements that have been made, including the improvement of gross split PSC, the existence of joint audits for activities oil and gas, the issuance of exclusion rules for L / C on oil and gas exports, and others. IPA will continue to support the Government's efforts to improve the investment climate in Indonesia and produce giant discoveries.

However, the IPA notes that there are several homeworks that need to be worked on together, such as simplifying licensing, implementing the Government Regulation number 27 of 2017, proper Land Building Tax treatment for oil and gas activities, optimizing the masterlist facility for the import of oil and gas activities and others. In addition, the completion of the new Oil and Gas Bill has become very critical for the oil and gas industry in Indonesia.

"With oil prices getting better, hopefully many will want investment. We expect exploration to increase, because seeing production continues to decline, it can only be closed by exploration. We hope that in 2019 there will be a lot of exploration, "said Tumbur.

IN INDONESIAN

IPA Dorong Peningkatan Daya Saing Indonesia

Indonesian Petroleum Association (IPA) akan mendorong peningkatan daya saing Indonesia di industri hulu migas dunia. Pasalnya, meski Indonesia telah membenahi iklim investasi hulu migasnya, berbagai negara juga sedang berlomba menarik investor.

Ketua IPA Tumbur Parlindungan mengatakan, di tahun depan, pihaknya akan memperluas kolaborasi dengan pemerintah, tidak terbatas dengan Kementerian Energi dan Sumber Daya Mineral (ESDM). Hal ini untuk membuat iklim investasi migas nasional menjadi lebih menarik. Pada 2018 ini, IPA telah melakukan koordinasi dengan Kementerian Keuangan dan Kementerian Perdagangan.

“Di 2019, kami perlebar lagi ke (kementerian/lembaga) lain supaya meng-encourage investor ke Indonesia,” kata dia dalam jumpa pers di Jakarta.

Hal ini mengingat potensi migas Indonesia sebenarnya masih sangat menjanjkan dan dapat terus dikembangkan sebagai salah satu tujuan utama untuk mendukung perekonomian Indonesia. Namun melihat masih belum stabilnya harga minyak dunia dan terbatasnya dana yang tersedia untuk melakukan eksplorasi dan investasi, investor sangat selektif untuk memilih di negara mana mereka akan melakukan investasi. Dengan anggota perusahaan migas dari berbagai negara, IPA bisa memberikan masukan apa saja yang dilakukan negara lain untuk menarik investasi. 

“Seperti apa industri hulu migas di negara lain, setiap negara menjadikan lebih kompetitif. Kami kasih informasi ke pemerintah, itu yang kami kerja sama dengan pemerintah,” ujar Tumbur.

Salah satunya yang akan dilakukan IPA, yakni memastikan implementasi dari Regulasi baru yang dikeluarkan pemerintah bisa beroperasi dengan baik. Salah satu aturan ini yakni Peraturan Pemerintah Nomor 27 Tahun 2017 berisi ketentuan perpajakan dan daftar insentif bagi perusahaan migas yang menggunakan skema kontrak kerja sama (production sharing contract/ PSC) biaya investasi yang dapat dikembalikan (cost recovery). Selain itu juga implementasi dari PSC gross split.

“Ada implementasi beberapa peraturan yang masih didiskusikan. Kami tidak mau pemerintah membuat aturan ada loophole,” ujar Tumbur.

Direktur IPA Ronald Gunawan menambahkan, kondisi industri hulu migas nasional sudah membaik, seiring dengan meningkatnya harga minyak mentah dibandingkan 2017 lalu. Hal ini terlihat dari diminati-nya enam blok migas yang ditawarkan oleh pemerintah. Kemudian, pemerintah juga telah menetapkan nasib PSC yang selesai masa berlakunya. Terkait PSC bagi hasil kotor (gross split), dikatakannya bahwa pelaku industri migas tidak melihat hal ini sebagai masalah. 

“Kami di industri tidak masalah apakah PSC gross split atau cost recovery. Kami melihat bahwa salah satu member kami, Eni, mengubah PSC East Sepinggan ke gross split. Itu juga menunjukkan kami move forward,” kata dia.

Dalam dua tahun terakhir ini, Pemerintah telah bekerja keras dalam upaya untuk menarik investor migas menanamkan modalnya di Indonesia. Pemerintah secara agresif menawarkan wilayah-wilayah kerja baru dan memperbaiki peraturan-peraturan terkait industri migas tahun 2018. Hingga saat ini tercatat ada sebanyak 34 blok migas yang ditawarkan Pemerintah dengan menggunakan skema gross split.

IPA mencatat beberapa hal perbaikan yang telah dilakukan, di antaranya melakukan perbaikan PSC gross split, adanya joint audit untuk kegiatan

migas, terbitnya aturan pengecualian L/C pada ekspor migas, dan lainnya. IPA akan terus mendukung upaya-upaya Pemerintah untuk meningkatkan iklim investasi di Indonesia dan menghasilkan penemuan cadangan raksasa (giant discovery).

Namun, IPA mencatat ada beberapa pekerjaan rumah yang perlu dikerjakan bersama, seperti penyederhanaan perizinan, aturan pelaksanaan Peraturan Pemerintah nomor 27 tahun 2017, perlakuan Pajak Bumi Bangunan yang wajar pada kegiatan migas, optimalisasi fasilitas masterlist untuk impor barang penunjang kegiatan migas dan lainnya. Selain itu, penyelesaian Rancangan Undang-Undang Migas yang baru menjadi sangat kritikal bagi industri migas di Indonesia. 

“Dengan harga minyak makin baik, semoga banyak yang mau investasi. Kami targertkan eksplorasi meningkat, karena dengan melihat produksi terus turun, hanya bisa (ditutup) dengan eksplorasi. Kami berharap di 2019 banyak yang eksplorasi,” kata Tumbur. 

Investor Daily, Page-9, Thursday, Dec 6, 2018

Pertamina Transfer LNG Cheniere Imports

PT Pertamina (Persero) will transfer the supply of liquefied natural gas (LNG) imported from Cheniere Energy Inc. LNG supplies have not been brought to the country because domestic needs can still be met from the Badak LNG Plant.

Cheniere Energy Inc.

Pertamina's Corporate Marketing Director, Basuki Trikora Putra, said that the company sold back LNG supplies purchased from Cheniere in 2013. This LNG supply is sold through its subsidiary, PPT Energy Trading. The total supply of LNG purchased by the company from the United States gas company reaches 1.4 million tons per year.

"The volume for 2019 has already been sold, it's been solved, it's not a problem. I don't remember how many cargoes, there were about tens of cargo in one year, "he said in Jakarta.

PPT Energy Trading

Unfortunately, Basuki claimed he did not know where the LNG supply was sold. Because, through PPT Energy Trading, the LNG supply is released to the spot market. The LNG sale and purchase contract is also designed for the short term (shor term), which is supply for 2019 only.

the Badak LNG

He explained that the LNG supply had to be resold because domestic gas needs could still be met from domestic refineries, namely the Badak LNG Plant in East Kalimantan. Although, this domestic gas demand is expected to continue to rise along with the completion and improvement of the company's refinery (BBM) and the project for electricity gas needs.

"In 2019, from there (Cheniere) did not enter Indonesia. Domestic can still be fulfilled from the Badak LNG Plant. The domestic priority is still from the Badak LNG Plant, "said Basuki.

According to Investor Daily, the LNG import contract from the United States was signed in 2013. Pertamina has purchased LNG of 0.76 million tons per year from Cheniere Energy supplied from 2018 with a duration of 20 years. In 2014, the company signed a sale and purchase contract with subsidiary Cheniere Energy Inc., Corpus Christi Liquefaction Liability Company, to supply 0.76 million tons, of LNG starting in 2019 for 20 years.

Then, in 2017, Pertamina contracts with Woodside with a volume of around 0.6 million tons per year which can be increased to 1.1 million tons per year. The supply of 0.6 million tons per year will be sent from 2022-2034 and can be increased to 1.1 million tons per year from 2024-2038. Finally, the company has a head of agreement (HoA) with ExxonMobil to supply as much as 1 million tons per year for 20 years starting from 2025.

On the other hand, referring to the national gas balance, the government projects that the domestic gas supply deficit will still occur in the range of 2025. This also depends on which scenario will be used in estimating national gas demand and supply projections. Referring to the data from the Ministry of Energy and Mineral Resources, in 2025, Indonesia will have a gas deficit of 206.5 mmscfd when referring to the second scenario.

However, if you apply the third scenario, this gas deficit has increased dramatically to 1,072.29 mmscfd. The shortage of gas supply continues in 2026, which is 673.9 mmscfd if based on the second scenario and 1,572.43 mmscfd if referring to the third scenario. Finally at 2027, the gas deficit will be 442 mmscfd if it refers to the second scenario and 1,374.95 mmscfd if based on the third scenario.

IN INDONESIAN

Pertamina Alihkan Impor LNG Cheniere

PT Pertamina (Persero) akan mengalihkan pasokan gas alam cair (liquefied natural gas/ LNG) yang di impor dari Cheniere Energy Inc. Pasokan LNG batal dibawa ke dalam negeri karena kebutuhan domestik masih dapat dipenuhi dari Kilang LNG Badak.

Direktur Pemasaran Korporat Pertamina Basuki Trikora Putra menuturkan, pihaknya menjual kembali pasokan LNG yang dibeli dari Cheniere pada 2013 silam. Pasokan LNG ini dijual melalui anak usahanya, PPT Energy Trading. Total pasokan LNG yang dibeli perseroan dari perusahaan gas Amerika Serikat itu mencapai 1,4 juta ton per tahun. 

“Volumenya yang untuk 2019 itu sudah selesai (dijual), sudah solved, tidak masalah. Saya tidak ingat berapa kargo, 1 tahun ada sekitar berapa puluh kargo,” kata dia di Jakarta.

Sayangnya, Basuki mengaku tidak hafal kemana saja pasokan LNG tersebut dijual. Pasalnya, melalui PPT Energy Trading, pasokan LNG itu dilepas ke pasar spot. Kontrak jual beli LNG ini juga didesain untuk jangka waktu pendek (shor term) saja, yakni pasokan untuk 2019 saja.

Dia menjelaskan, pasokan LNG tersebut terpaksa dijual kembali lantaran kebutuhan gas dalam negeri masih dapat dipenuhi dari kilang domestik, yakni Kilang LNG Badak di Kalimantan Timur. Walaupun, kebutuhan gas domestik ini diperkirakannya akan terus naik seiring dengan rampungnya perbaikan dan penambahan kilang bahan bakar minyak (BBM) perseroan dan proyek kebutuhan gas kelistrikan.

“Pada 2019, dari sana (Cheniere) tidak masuk ke Indonesia. Kalau domestik sekarang masih bisa dipenuhi dari Kilang LNG Badak. Prioritas domestik masih dari Kilang LNG Badak,” kata Basuki. 

Berdasarkan catatan Investor Daily, kontrak impor LNG dari Amerika Serikat itu ditandatangani pada 2013 silam. Pertamina telah membeli LNG sebesar 0,76 juta ton per tahun dari Cheniere Energy yang dipasok mulai 2018 dengan durasi 20 tahun. Pada 2014, perseroan menandatangani kontrak jual beli dengan anak usaha Cheniere Energy Inc yakni Corpus Christi Liquefaction Liability Company untuk memasok 0,76 juta ton, per tahun LNG mulai 2019 selama 20 tahun.

Kemudian, pada 2017, Pertamina berkontrak dengan Woodside dengan volume sekitar 0,6 juta ton per tahun yang bisa ditingkatkan menjadi 1,1 juta ton per tahun. Pasokan 0,6juta ton per tahun mulai dikirim 2022-2034 dan bisa ditingkatkan menjadi 1,1 juta ton per tahun pada 2024-2038. Terakhir, perseroan memiliki kesepakatan (head of agreement/HoA) dengan ExxonMobil untuk pasokan sebanyak 1 juta ton per tahun selama 20 tahun mulai 2025.

Di sisi lain, mengacu neraca gas nasional, pemerintah memproyeksikan defisit pasokan gas di dalam negeri masih akan terjadi pada kisaran 2025. Ini pun tergantung dengan skenario mana yang akan dipakai dalam memperkirakan proyeksi kebutuhan dan pasokan gas nasional. Mengacu data Kementerian ESDM, pada 2025 nanti, Indonesia akan defisit gas sebesar 206,5 mmscfd jika mengacu pada skenario kedua. 

Namun, jika menerapkan skenario ketiga, defisit gas ini meningkat drastis menjadi 1.072,29 mmscfd. Kekurangan pasokan gas ini terus berlangsung pada 2026, yakni sebesar 673,9 mmscfd jika berdasarkan skenario kedua dan 1.572,43 mmscfd jika mengacu skenario ketiga. Terakhir di 2027, defisit gas akan menjadi 442 mmscfd jika mengacu skenario kedua dan 1.374,95 mmscfd jika berdasarkan skenario ketiga.

Investor Daily, Page-9, Thursday, Dec 6, 2018

Merakes Field Contract 1 is Expected to Become a Gross Split

Eni Indonesia agreed to change its Merakes Field production contract (PSC) contract, the Sepinggan East Block into a gross split scheme, from the previous cost recovery. Revision of the contract and approval of this block development plan before 12 December.

Eni Indonesia

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, Eni agreed to turn PSC into a gross split because it pursued the efficiency offered by this scheme. Furthermore, this scheme is considered to provide certainty, because by using a gross split PSC the auction process and project execution will be faster.

Arcandra Tahar

"So that they (Eni) see an opportunity and this savings is significant. We are targeting the POD to be approved and the PSC amended most late before December 12, "he said in Jakarta.

He promised, the transfer process from PSC cost recovery to gross split could be very fast. The East Sepinggan Block contract began on July 20, 2012 and ends in July 2042. The 30-year contract period consists of a 20-year exploration phase and 10-year production. In this contract, Eni Indonesia holds the right of participation (participating interest / Pl) of 85% and PT Pertamina Hulu Energi (PHE) 15%. It has also set a split for this block split gross PSC.

"Oil 67%, gas 72%, it's a base split plus a split variable for contractors," said Arcandra.

However, he hopes that Eni can increase the level of domestic content (TKDN) of this project so that the splits can increase.

"We ask them to increase local content, if gross split (local content) is 30-50%, they get 2% split," he added.

For the plan to develop Merakes Field, said Arcandra, it is targeted to be able to produce gas up to 391 million cubic feet per day (million standard cubic feet per day / mmscfd) with total production along the contract of 814 billion cubic feet. The production period of this field according to its economy is estimated to be around 9 years.

"The on-stream plan is 2021," he said.

IN INDONESIAN

Kontrak Lapangan Merakes 1 Diunah Menjadi Gross Split 

Eni Indonesia sepakat mengubah kontrak kerja samanya (production sharing contract/ PSC) Lapangan Merakes, Blok East Sepinggan menjadi skema bagi hasil kotor (gross split), dari sebelumnya cost recovery. Revisi kontrak dan persetujuan rencana pengembangan blok ini sebelum 12 Desember.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, Eni sepakat mengubah PSC menjadi gross split karena mengejar efisiensi yang ditawarkan skema ini. Selanjutnya, skema ini dinilai memberikan kepastian, karena dengan memakai PSC gross split maka proses lelang dan pengerjaan proyek menjadi lebih cepat.

“Sehingga mereka (Eni) melihat sebuah opportunity dan penghematan ini signifikan. Kami targetkan POD disetujui dan PSC diamendemen paling telat sebelum 12 Desember,” kata dia di Jakarta. 

Dia menjanjikan, proses pengalihan dari PSC cost recovery ke gross split bisa sangat cepat. Kontrak Blok East Sepinggan ini dimulai pada 20 Juli 2012 dan berakhir pada Juli 2042. Jangka waktu kontrak selama 30 tahun ini terdiri dari fase eksplorasi 20 tahun dan produksi 10 tahun. Dalam kontrak ini, Eni Indonesia memegang hak partisipasi (participating interest/ Pl) sebesar 85% dan PT Pertamina Hulu Energi (PHE) 15%. Pihaknya juga telah menetapkan bagi hasil (split) untuk PSC gross split blok ini. 

“Oil 67%, gas 72%, itu base split plus variable split untuk kontraktor,” tutur Arcandra. 

Namun pihaknya berharap Eni dapat menaikkan tingkat kandungan dalam negeri (TKDN) proyek ini sehingga splinya bisa bertambah. 

“Kami minta mereka meningkatkan local content, kalau gross split (local content) 30-50%, mereka mendapatkan 2% split,” tambahnya.

Untuk rencana pengembangan Lapangan Merakes, tutur Arcandra, ditargetkan dapat menghasilkan gas hingga 391 juta kaki kubik per hari (million standard cubic feet per day/mmscfd) dengan total produksi sepanjang kontrak 814 miliar kaki kubik. Masa produksi lapangan ini sesuai keekonomiannya diperkirakan sekitar 9 tahun.

“Rencana onstream-nya 2021,” ujarnya. 

Investor Daily, Page-9, Wednesday, Dec 5, 2018