2 Blocks Immediately Switch to Net Revenue Sharing

Two contract contractors will change the scheme of net profit sharing contracts to gross profit sharing. The signing of the second oil and gas block contract is targeted for January 2019.

So far, gross split contracts have been applied to new contracts. However, the two upstream oil and gas companies plan to change cost recovery contracts into gross profit sharing. The government provides an opportunity for contractors to continue to use the cost recovery scheme until the oil and gas block contracts they manage end.

Working Area of Gross Split

In the cost recovery contract scheme, the profit share received by the contractor is already clean, while all production costs will be replaced through the Negaua (APBN) income and expenditure budget. Conversely, through the gross split scheme, the profit sharing received by the contractor includes the production costs incurred to produce oil and gas.

Before the two blocks, the Ministry of Energy and Mineral Resources (ESDM) signed a new East Sepinggan Block contract located in the Makassar Strait to become a gross split from the previous cost recovery. So far, gross split contracts have been used for oil and gas blocks whose contracts have expired and will sign new contracts.

Arcandra Tahar 

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar acknowledged that his party is still evaluating two oil and gas block contracts that will change from the cost recovery scheme to gross profit sharing contracts. However, Arcandra did not mention the second contract for the oil and gas block to be changed.

"Maybe the third week of January 2019, this is the existing contract [existing contract] and [oil and gas block] conventional," he said.

Reflecting on the contract changes that occurred in the management of the East Sepinggan Block, the government promised gross split contracts to be more efficient than using a net profit sharing contract scheme. Sepinggan Block contracts are changed and cost recovery becomes gross split. Arcandra said that the transition from cost recovery to gross split can be done in a short time, which is less than 1 month.

Eni S.p.A.

In addition, according to him, using the gross split scheme will be simpler and the right moment for cooperation contract contractors (KKKS) to make efficient management of oil and gas fields. With the change in the contract regime, Eni S.p.A., an oil and gas company from Italy, needs to make changes to the proposal to develop Merakes Field which has been approved with the concept of cost recovery. Eni finally used a gross profit sharing scheme in the management of Merakes Field.

Merakes Field East Kalimantan

However, Arcandra was reluctant to talk about the change in investment value issued by the Italian contractor by changing the contract scheme. When starting production, Arcandra explained that Merakes Field, East Sepinggan Block could reach 155 million cubic feet per day (MMscfd) and will reach the highest production point around, 391 MMscfd.

In addition, this field has natural gas reserves of 814 billion cubic feet (bd). The economic age of the East Sepinggan Block is estimated to be 9 years since the first production. Arcandra added that the project will start operating in 2021 or change from the initial target at the end of next year.

ENI S.P.A

Eni obtains a share of 67% for oil and gas 72% which is a cumulative base split and variable profit sharing. By using the scheme, Eni agreed to increase the local product content on projects in the Field Merakes at the base of 30% to 50%.

ENI S.P.A

Eni has 85% of the management rights (share participation) in the East Sepinggan Block, while 15% is owned by PT Pertamina Hulu Energi East Sepinggan. Related to the agreement on contract changes, SKK Migas is optimistic that natural gas production in the offshore oil and gas blocks in the Makassar Strait is faster than the year set.

Dwi Soetjipto

SKK Migas Head Dwi Soetjipto said that if initially set in 2021, the first production should be faster than the target.

"Yes it was [the first production target] in 2021, it is expected that [production] can be faster than 2021," he said.

In addition, the project can operate faster because the project contractor has changed the cooperation scheme from the original cost recovery to gross split.

"We see the acceleration in its implementation. In the past, cost recovery was due to having to go back and forth to SKK Migas if you would spend money. If this is their [gross split] [which determines production costs, "he added.

OIL AND GAS PROJECT

Meanwhile, SKK Migas stated that the six upstream oil and gas projects that have been operating in 2018 have crude oil production capacity of 15,000 barrels per day (bpd) and natural gas of 105 MMscfd. The total value of the project is US $ 300 million.

Wisnu Prabawa Taher, Head of the SKK Migas Program and Communication Division, said that the upstream oil and gas project consists of 3 projects in Sumatra, 2 projects on Java, and 1 project in Kalimantan.

"[The upstream oil and gas project] is based on the operator, four projects are owned by Pertamina and two projects by MedcoEnergi," he said.

PT Pertamina EP

The project located in the Sumatra region was an optimization of the East SKC Musi exhaust gas by PT Pertamina EP with an investment of US $ 11.3 million. The gas production capacity of the project is 15 MMscid. Wisnu said that the project had been operating since March 2018.

Two other oil and gas upstream projects that have been operating are Block A Field Development by PT Meclco Blok A and optimization of Lica Field production facilities by PT Medco EP Indonesia. Block A's design, procurement and construction (EPC) Block A value is US $ 253.7 million with an oil production capacity of 3,100 bpd and natural gas 55 MMscfd.

"This project estimates the highest production level of 3,100 bpd and [natural gas] 55 MMscfd in November 2018," he said.

Optimization of the Lica Field production facility requires EPC investment worth US $ 8.5 million with a production capacity of 4,000 bpd. Estimated production is as high as 3,700 bpd. The Lica Field Project is expected to start operating in December 2018. At present, the progress of the Lica Field project has reached 94%.

Wisnu explained, the upstream oil and gas project on Java Island was on the SP, Blok ONWJ field by PT Pertamina Hulu Energi ONWJ with EPC investments worth US $ 50.7 million. The capacity of SP Field production facilities is 30 MMscfd with estimated gas production at the highest level of 30 MMscfd.

IN INDONESIAN

2 Blok Segera Beralih ke Bagi Hasil Bersih

Dua kontraktor Kontrak keria sama akan mengubah skema kontrak bagi hasil bersih ke bagi hasil kotor. Penandatanganan kontrak kedua blok minyak dan gas bumi ini ditargetkan pada Januari 2019.

Selama ini, kontrak bagi hasil kotor (gross split) diterapkan pada kontrak baru. Namun, kedua perusahaan hulu migas itu berencana untuk mengubah kontrak bagi hasil bersih (cost recovery) menjadi bagi hasil kotor. Pemerintah memberikan kesempatan kepada kontraktor untuk tetap memakai skema cost recovery hingga kontrak blok migas yang dikelolalnya berakhir.

Dalam skema kontrak cost recovery, bagi hasil yang diterima kontraktor sudah bersih, sedangkan seluruh biaya produksi akan diganti melalui anggaran pendapatan dan belanja Negaua (APBN). Sebaliknya, melalui skema gross split, bagi hasil yang diterima kontraktor sudah termasuk biaya produksi yang dikeluarkan untuk menghasilkan minyak dan gas bumi.

Sebelum kedua blok itu, Kementerian Energi dan Sumber Daya Mineral (ESDM) telah menandatangani kontrak baru Blok East Sepinggan yang berlokasi di Selat Makassar menjadi gross split dari sebelumnya cost recovery. Selama ini, kontrak gross split dipakai untuk blok migas yang sudah berakhir kontraknya dan akan menandatangani kontrak baru. 

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengakui bahwa pihaknya masih mengevaluasi dua kontrak blok minyak dan gas bumi yang akan berubah dari skema pengembalian biaya operasi (cost recovery) ke kontrak bagi hasil kotor. Namun, Arcandra tidak menyebutkan kontrak kedua blok migas yang akan diubah tersebut.

“Kemungkinan pekan ketiga Januari 2019, Ini kontrak existing [kontrak yang sudah ada] dan [blok migas] konvensional,” katanya.

Berkaca dari perubahan kontrak yang terjadi dalam pengelolaan Blok East Sepinggan, pemerintah menjanjikan kontrak gross split lebih efisien daripada menggunakan skema kontrak bagi hasil bersih. Kontrak Blok Sepinggan diubah dan cost recovery menjadi gross split. Arcandra mengatakan bahwa peralihan dari cost recovery ke gross split bisa dilakukan dalam waktu cepat, yaitu kurang dari 1 bulan. 

Selain itu, menurutnya, menggunakan skema gross split akan lebih sederhana dan menjadi momen tepat bagi kontraktor kontrak kerja sama (KKKS) untuk melakukan efisiensi pengelolaan lapangan migas. Dengan adanya perubahan rezim kontrak ini, Eni S.p.A., perusahaan migas dari Italia, perlu melakukan perubahan proposal pengembangan Lapangan Merakes yang sudah disetujui dengan konsep cost recovery. Eni akhirnya menggunakan skema bagi hasil kotor dalam pengelolaan Lapangan Merakes. 

Namun, Arcandra enggan bicara perubahan nilai investasi yang dikeluarkan kontraktor dari Italia itu dengan mengubah skema kontrak. Ketika mulai berproduksi, Arcandra memperikaran bahwa Lapangan Merakes, Blok East Sepinggan bisa mencapai 155 juta kaki kubik per hari (MMscfd) dan akan mencapai titik produksi tertinggi sekitar ,391 MMscfd.

Selain itu, lapangan ini memiliki cadangan gas bumi sebesar 814 miliar kaki kubik (bd). Untuk usia lapangan ekonomis Blok East Sepinggan diperkirakan selama 9 tahun sejak produksi pertama. Arcandra menambahkan bahwa proyek ini akan mulai beroperasi pada 2021 atau mengalami perubahan dari target awal pada akhir tahun depan.

Eni memperoleh bagi hasil 67% untuk minyak dan gas bumi 72% yang merupakan kumulatif bagi hasil awal (base split) dan bagi hasil variabel. Dengan menggunakan skema tersebut, Eni sepakat untuk meningkatkan kandungan produk lokal pada proyek di Lapangan Merakes di alas 30% hingga 50%.

Eni memiliki hak kelola (saham partisipasi) sebesar 85% di Blok East Sepinggan, sedangkan 15 % dimiliki oleh PT Pertamina Hulu Energi East Sepinggan. Terkait dengan disepakatinya perubahan kontrak, SKK Migas optimistis produksi gas bumi di blok migas lepas pantai di Selat Makassar itu lebih cepat dari tahun yang ditetapkan.

Kepala SKK Migas Dwi Soetjipto mengatakan bahwa jika pada awalnya ditetapkan pada 2021, sebaiknya produksi pertama akan lebih cepat dari target tersebut. 

“Iya tadinya [target produksi pertama] 2021, diharapkan bisa [produksi] lebih cepat dari 2021,” katanya.

Selain itu, proyek tersebut dapat beropeasi lebih cepat karena kontraktor proyek tersebut telah mengubah skema kerja sama dari yang semula cost recovery menjadi gross split.

“Kami lihat percepatan itu dalam implementasinya. Kalau dulu cost recovery karena harus bolak-balik ke SKK Migas kalau akan keluarkan uang. Kalau ini [gross split] mereka sendiri [yang menentukan biaya produksi," imbuhnya.

PROYEK MIGAS

Sementara itu, SKK Migas menyatakan bahwa enam proyek hulu migas yang telah beroperasi pada 2018 memiliki kapasitas produksi minyak mentah sebesar 15.000 barel per hari (bph) dan gas bumi 105 MMscfd. Total nilai proyek tersebut sebesar US$ 300 juta.

Wisnu Prabawa Taher, Kepala Divisi Program dan Komunikasi SKK Migas, mengatakan bahwa proyek hulu migas tersebut terdiri atas 3 proyek di Sumatra, 2 proyek di Pulau Jawa, dan 1 proyek di Kalimantan. 

“[Proyek hulu migas] berdasarkan operator, empat proyek dimiliki oleh Pertamina dan dua proyek oleh MedcoEnergi,” katanya.

Proyek yang berlokasi di wilayah Sumatra itu berupa optimasi gas buang SKC Musi Timur oleh PT Pertamina EP dengan investasi US$ 11,3 juta. Kapasitas produksi gas dari proyek itu sebanyak 15 MMscid. Wisnu menyebutkan bahwa proyek tersebut sudah beroperasi sejak Maret 2018.

Dua proyek hulu migas lain yang sudah beroperasi adalah Block A Field Development oleh PT Meclco Blok A serta optimasi fasilitas produksi Lapangan Lica oleh PT Medco EP Indonesia. Nilai proyek desain, pengadaan, dan konstruksi (engineering, procurement, & construction/EPC) Blok A sebesar US$ 253,7 juta dengan kapasitas produksi minyak 3.100 bph dan gas bumi 55 MMscfd.

“Proyek ini estimasi produksi level tertinggi sebesar 3.100 bph dan [gas bumi] 55 MMscfd pada November 2018,” katanya.

Optimasi fasilitas produksi Lapangan Lica membutuhkan investasi EPC senilai US$ 8,5 juta dengan kapasitas produksi sebesar 4.000 bph. Estimasi produksi teninggi sebesar 3.700 bph. Proyek Lapangan Lica itu diperkirakan mulai beroperasi Desember 2018. Saat ini, progres proyek Lapangan Lica telah mencapai 94%. 

Wisnu menjelaskan, proyek hulu migas di Pulau Jawa berada di lapangan SP, Blok ONWJ oleh PT Pertamina Hulu Energi ONWJ dengan investasi EPC senilai US$ 50,7 juta. Kapasitas fasilitas produksi Lapangan SP sebesar 30 MMscfd dengan estimasi produksi gas pada level tertinggi sebesar 30 MMscfd.

Bisnis Indonesia, Page-24, Monday, Dec 17, 2018

The Cilacap Refinery Project Awaits the Asset Valuation Agreement

PT Pertamina (Persero) and Saudi Aramco have not yet completed the establishment of a joint venture that will be tasked with working on upgrading and upgrading capacity of Cilacap Refinery. Because the two state-owned oil and gas companies have not yet agreed on the valuation of the existing assets of the Cilacap refinery.

the Cilacap refinery

The Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, the Cilacap Refinery Project is still under evaluation in relation to how the partnership with Saudi Aramco so that Pertamina can benefit in accordance with the business framework that is cooperated. One of them is related to asset valuation agreements that will be included in the JV.

Saudi Aramco

"The valuation of these assets has not been agreed. It must be calculated in detail, "he said in Jakarta.

He explained, Pertamina and partners must first agree on the value of these assets before the project starts, because the results of the asset valuation agreement will determine how much money is included. At present, Pertamina has finalized the asset valuation and is still awaiting an agreement from Saudi Aramco. Arcandra added, even though there was no agreement, cooperation with Saudi Aramco would continue.

"As far as I know (not looking for another partner), it's still the same as Saudi Aramco in Cilacap," he said.

Nicke Widyawati

Previously, Pertamina's Managing Director Nicke Widyawati revealed that for the Cilacap Refinery Project, the company was still finalizing the establishment of a joint venture company. However, continued Nicke, his side continued to work on this project.

"We are doing land clearing in Cilacap," Nicke said.

Saudi Aramco Refinery

Pertamina and Saudi Aramco have signed an agreement to establish a joint venture agreement (JVA) since the end of 2016. In the joint venture, Pertamina plans to hold 55% ownership and 45% of Saudi Aramco. Two years after the signing of the JVA, the two oil and gas companies have not yet realized the establishment of a joint venture company.

Some time ago, Pertamina revealed its plan to spin off the new Cilacap Refinery unit that will be carried out to be transferred to a joint venture formed to work on this project. If Saudi Aramco intends to continue working together, and other companies want to join, they can enter the company.

The spin off plan has received a green light from the Ministry of BUMN. The Cilacap refinery is targeted to start operating in 2024 backing from the initial plan in 2022. After upgrading, the crude oil processing capacity of the Cilacap Refinery will increase from 348 thousand barrels per day (bpd) to 400 thousand bpd.

Furthermore, there will be additional production of gasoline (gasoline) 80 thousand bpd, diesel fuel 60 thousand bpd, and avtur of 40 thousand bpd. Increased fuel production Significant because the refinery's ability to process crude oil into finished products (NCI) rose from 74% to 92-98%.

Tuban Refinery

Regarding the Tuban Refinery Project of 300 thousand bpd, Arcandra stressed that the refinery project location was canceled.

"The Tuban refinery is not moved, still (in Tuban)," her said. However, he admitted that land acquisition for this project had not yet been completed. "It's being released (land), it's being worked on," Nicke said.

Previously, Nicke admitted that land acquisition needed for the construction of an 800-hectare refinery was still an obstacle. At the location of the plan to be built by the refinery, there is 350 hectares of land owned by the Ministry of Environment, while the rest belongs to the community. Nicke said, in the last three years, his party had made various efforts to complete the land acquisition.

"To follow up on the request of the Minister of Energy and Mineral Resources, Pertamina will send a team to complete the land acquisition, so in this month we will send another team to solve this land problem," Nicke explained.

In fact, previously Pertamina and the East Java Provincial Government had previously signed a memorandum of understanding on the use of land assets of the Ministry of Environment and Forestry in Tanjung Awar-Awar, Tuban. In the memorandum of understanding, the East Java Provincial Government supports the Ministry of Environment and Forestry's land use for the construction of the Tuban Refinery.

Rosneft Refinery

Pertamina cooperates with the Russian oil and gas company, Rosneft Oil Company in working on the Tuban Refinery. The two companies have formed a joint venture, namely PT Pertamina Rosneft Pengolahan and Petrokirnia (PRPP), which will work on the Tuban Refinery Project worth US $ 15 billion. Pertamina holds a 55% shareholding and Rosneft 45%.

The plan, Tuban Refinery will produce gasoline (gasoline) products of 80 thousand bpd, solar 90 thousand bpd, and 26 thousand bp avtur. Not only that, Tuban Refinery will also produce new petrochemical products. The details of this product are polypropylene 1.3 million tons per year, polyethylene 0.65 million tons per year, styrene 0.5 million tons per year and paraxylene 1.3 million tons per year.

As is known, Pertamina is working on six refinery projects at once, both new units and increasing capacity and quality of existing refineries. Construction of two new units in Tuban, East Java and Bontang, East Kalimantan, as well as repairs to four existing refineries spread in Balongan, West Java; Balikpapan, East Kalimantan; Durnai, Riau; and Cilacap, Central Java.

The funds needed to complete this project are very large, namely around US $ 30 billion. All projects are targeted to be completed by 2026.

IN INDONESIAN

Proyek Kilang Cilacap Tunggu Kesepakatan Valuasi Aset

PT Pertamina (Persero) dan Saudi Aramco belum juga merampungkan pembentukan perusahaan patungan (joint venture) yang akan bertugas mengerjakan peningkatan dan perbaikan kapasitas (upgrading) Kilang Cilacap. Pasalnya, kedua perusahaan migas milik pemerintah ini belum juga menyepakati valuasi aset eksisting kilang Cilacap.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, Proyek Kilang Cilacap masih dalam evaluasi terkait bagaimana kemitraan dengan Saudi Aramco agar Pertamina mendapat manfaat sesuai dengan kerangka bisnis yang dikerjasamakan. Salah satunya terkait kesepakatan valuasi aset yang akan disertakan dalam JV.

“Perhitungan valuasi asetnya ini yang belum sepakat. Kan harus dihitung secara detailnya,” kata dia di Jakarta.

Dia menjelaskan, Pertamina dan mitra harus sepakat dulu untuk nilai aset ini sebelum proyek dimulai, Pasalnya, hasil kesepakatan valuasi aset akan menentukan berapa uang yang disertakan. Saat ini, Pertamina telah merampungkan valuasi aset tersebut dan masih menunggu kesepakatan dari Saudi Aramco. Arcandra menambahkan, meski belum ada kesepakatan, kerja Sama dengan Saudi Aramco tetap akan dilanjutkan. 

“Setahu saya tidak (mencari partner lain), tetap sama Saudi Aramco di Cilacap,” ujarnya.

Sebelumnya, Direktur Utama Pertamina Nicke Widyawati mengungkapkan, untuk Proyek Kilang Cilacap, perseroan masih melakukan finalisasi pembentukan perusahaan patungan. Namun, lanjut Nicke, pihaknya terus mengerjakan proyek ini.

“Kami lakukan land clearing di Cilacap,” kata Nicke.

Pertamina dan Saudi Aramco telah menandatangani perjanjian pembentukan perusahaan patungan (joint venture agreement/JVA) sejak akhir 2016. Dalam perusahaan patungan itu, Pertamina rencananya memegang kepemilikan 55% dan Saudi Aramco 45%. Dua tahun berselang sejak ditekennya JVA, kedua perusahaan migas ini belum juga merealisasikan pembentukan perusahaan patungan.

Beberapa waktu lalu, Pertamina mengungkapkan rencananya untuk melakukan spin off unit baru Kilang Cilacap yang akan dikerjakan untuk dialihkan ke perusahaan patungan yang dibentuk untuk menggarap proyek ini. Jika Saudi Aramco berniat tetap melanjutkan kerja sama, maupun perusahaan lain ingin bergabung, mereka bisa masuk ke perusahaan tersebut.

Rencana spin off tersebut telah mendapat lampu hijau dari Kementerian BUMN. Kilang Cilacap ditargetkan mulai beroperasi pada 2024 mundur dari rencana awal pada 2022. Pasca upgrading, kapasitas pengolahan minyak mentah Kilang Cilacap akan naik dari 348 ribu barel per hari (bph) menjadi 400 ribu bph. 

Selanjutnya, akan ada tambahan produksi bensin (gasoline) 80 ribu bph, solar 60 ribu bph, dan avtur 40 ribu bph. Prorfuksi bahan bakar naik signitikan lantaran kemampuan kilang mengolah minyak mentah menjadi produk jadi (NCI) naik dari 74% menjadi 92-98%.

Kilang Tuban

Terkait Proyek Kilang Tuban 300 ribu bph, Arcandra menegaskan bahwa lokasi proyek kilang ini batal dipindah. 

“Kilang Tuban tidak dipindah, tetap (di Tuban),” kata dia. Namun, diakuinya memang pembebasan lahan untuk proyek ini belum rampung. “Sedang dibebaskan (lahannya) , sedang diusahakan,” kata Nicke.

Sebelumnya, Nicke mengakui, pembebasan lahan yang dibutuhkan untuk pembangunan kilang seluas 800 hektar masih menjadi kendala. Di lokasi rencana yang akan dibangun kilang, ada lahan milik Kementerian Lingkungan Hidup seluas 350 hektar, sementara sisanya milik masyarakat. Dikatakan Nicke, dalam tiga tahun terakhir, pihaknya sudah melakukan berbagai upaya untuk merampungkan pembebasan lahan ini. 

“Untuk menindaklanjuti permintaan Menteri ESDM agar Pertamina kembali mengirimkan tim untuk menyelesaikan pembebasan lahan, maka dalam bulan ini segera kami akan kirim tim lagi untuk menyelesaikan masalah lahan ini,” jelas Nicke.

Padahal, sebelumnya Pertamina dan Pemerintah Provinsi Jawa Timur sebelumnya telah menandatangani nota kesepahaman pemanfaatan lahan aset Kementerian Lingkungan Hidup dan Kehutanan di Tanjung Awar-Awar, Tuban. Dalam nota kesepahaman itu, Pemprov Jawa Timur mendukung pemanfaatan lahan Kementerian Lingkungan Hidup dan Kehutanan untuk pembangunan Kilang Tuban.

Pertamina menggandeng perusahaan migas Rusia, Rosneft Oil Company dalam mengerjakan Kilang Tuban. Kedua perusahaan itu telah membentuk perusahaan patungan, yakni PT Pertamina Rosneft Pengolahan dan Petrokirnia (PRPP), yang akan menggarap Proyek Kilang Tuban senilai US$ 15 miliar. Pertamina memegang kepemilikan saham 55% dan Rosneft 45%.

Rencananya, Kilang Tuban akan menghasilkan produk bensin (gasoline) sebesar 80 ribu bph, solar 90 ribu bph, dan avtur 26 ribu bph. Tidak hanya itu, Kilang Tuban juga akan memproduksi produk-produk baru petrokimia. Rincian produk ini adalah polipropilen 1,3 juta ton per tahun, polietilen 0,65 juta ton per tahun, stirena 0,5 juta ton per tahun dan paraksilen 1,3 juta ton per tahun.

Seperti diketahui, Pertamina mengerjakan enam proyek kilang sekaligus, baik unit baru maupun peningkatan kapasitas dan kualitas dari kilang yang ada. Pembangunan dua unit baru di Tuban, Jawa Timur dan Bontang, Kalimantan Timur, serta perbaikan empat kilang eksisting yang tersebar di Balongan, Jawa Barat; Balikpapan, Kalimantan Timur; Durnai, Riau; serta Cilacap, Jawa Tengah.

Dana yang dibutuhkan untuk merampungkan proyek ini sangat besar, yakni Sekitar US$ 30 miliar. Seluruh proyek ditargetkan rampung pada 2026.

Investor Daily, Page-9, Saturday, Dec 15, 2018

Energy Equity Will Immediately Start Karaeng Block Joint Study

Energy Equity Epic (Sengkang) Pty Ltd immediately conducted a joint study in Karaeng Block in Jeneponto, South Sulawesi through a joint study. This oil and gas block was auctioned some time ago but there is no demand.

Energy Equity Epic (Sengkang)

President of Energy Equity Epic (Sengkang) Andi Riyanto said, this was the first time his party had been challenged by the government to carry out a joint study. This is also what makes Definite Work Commitments (DWC/KKP), which are agreed upon in the newly signed Production Sharing Contract (PSC) increased from US $ 60 million to US $ 80 million.

The increase in KKP is used to explore open areas that are suspected of having oil and gas reserves, including the Karaeng Block. The joint study is said to be carried out soon.

"These next months (implemented). So we will start administration first, "he said in Jakarta

This joint study includes evaluating geological and seismic documents, not yet entering physical activities. Thus, the funds issued may only be around US $ 100 thousand to access the document. Because the study has not yet been carried out, it has not been able to mention the potential of oil and gas in Karaeng Block. The party itself is interested in conducting this joint study, given its location adjacent to the Sengkang Block.

However, it does not mean that the oil and gas production of the two blocks will be merged, due to different contracts. After the joint study was completed and the block was auctioned, according to Andy, his party was interested in participating in this auction.

"There is a desire from management to participate in the WK (work area) auction. Hopefully a priviledge will be given because I want to join a joint study, "he said.

Previously, when visiting Jeneponto, Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar had reviewed the Karaeng Block location. When conducting a review of the location, Arcandra said that data would be added to the block Karaeng is through a joint study.

Arcandra Tahar

"This visit saw the potential of the oil and gas sector, especially the Karaeng Block in Jeneponto Regency. The data presented is promising. We have discussed it, there will be a joint study to see more potential, "said Arcandra.

This joint study is to further explore the potential at the same time to add data. The Karaeng Block is not the only oil and gas block that is not in demand at this year's oil and gas block auction. Throughout this year, the government has held an oil and gas block auction twice. 

    In the first phase where 19 oil and gas blocks were offered through regular auctions and 5 oil and gas blocks through direct offers, only four blocks were sold. While for the second phase of the auction, 6 oil and gas blocks are offered, but only 2 blocks have the winner.

IN INDONESIAN

Energy Equity Segera Mulai Joint Study Blok Karaeng

Energy Equity Epic (Sengkang) Pty Ltd segera melaksanakan joint study di Blok Karaeng di Jeneponto, Sulawesi Selatan melalui studi bersama (joint study). Blok migas ini sempat dilelang beberapa waktu lalu narnun tidak ada peminatnya. 

Presiden Energy Equity Epic (Sengkang) Andi Riyanto menuturkan, ini kali pertama pihaknya ditantang oleh pemerintah untuk melaksanakan joint study. Hal ini jugalah yang membuat Komitmen Kerja Pasti (KKP) yang disepekati dalam kontrak kerja sama (production sharing contract/PSC) yang baru saja ditandatangani meningkat dari US$ 60 juta menjadi US$ 80 juta. 

Peningkatan KKP digunakan untuk mengeksplorasi wilayah terbuka yang diduga memiliki cadangan migas, termasuk Blok Karaeng. Joint study ini disebutkan akan segera dilakukan dalam Waktu dekat. 

“Bulan-bulan depan ini (dilaksanakan). Jadi kami akan mulai administrasi dulu,” kata dia di Jakarta 

Joint study ini meliputi mengevaluasi dokumen geologi dan seismik, belum masuk ke kegiatan fisik. Sehingga, dana yang dikeluarkan kemungkinan hanya sekitar US$ 100 ribu untuk mengakses dokumen tersebut. Karena belum dilakukan kajian, pihaknya belum dapat menyebutkan potensi migas di Blok Karaeng. Pihaknya sendiri mernang tertarik untuk melakukan joint study ini, mengingat lokasinya berdekatan dengan Blok Sengkang. 

Namun, bukan berarti produksi migas kedua blok ini akan digabung, karena berbeda kontraknya. Setelah joint study selesai dan blok dilelang, menurut Andy, pihaknya berminat ikut lelang ini. 

“Ada keinginan dari manajemen ikut lelang WK (wilayah kerja) itu. Semoga diberikan priviledge karena sudah mau joint study,” tuturnya.

Sebelumnya, ketika berkunjung ke Jeneponto, Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar telah melakukan peninjauan lokasi Blok Karaeng. Saat melakukan tinjauan ke lokasi tersebut, Arcandra menyampaikn bahwa akan dilakukan penambahan data untuk blok Karaeng tersebut melalui joint study.

“Kunjungan ini melihat potensi sektor Migas, terutama Blok Karaeng yang ada di Kabupaten jeneponto. Dari data yang dipresentasikan cukup menjanjikan. Sudah kami diskusikan, akan ada joint study untuk melihat lebih dalam lagi potensi yang ada,” kata Arcandra. 

Joint study ini untuk lebih mendalami potensi yang ada sekaligus melakukan penambahan data. Blok Karaeng bukan satu-satunya blok migas yang tidak diminati dalam lelang blok migas tahun ini. Sepanjang tahun ini, pemerintah sudah dua kali menggelar lelang blok migas. 

     Pada tahap pertama di mana 19 blok migas ditawarkan melalui lelang reguler dan 5 blok migas melalui penawaran langsung, hanya empat blok yang laku. Sementara untuk lelang tahap dua ditawarkan 6 blok migas, tetapi hanya 2 blok saja yang ada pemenangnya.

Investor Daily, Page-9, Saturday, Dec 15, 2018

Delay of Refinery Assessed Adverse

The delay in the construction of new refineries and the increase in refinery capacity has the potential to swell imports of oil fuel. In 2012 the value of imported crude oil and oil raw materials reached 16.5 billion US dollars. The government is urged to be consistent with the dream of building refineries in the country.

Throughout 2017, the value of imported fuel oil (BBM) reached 9 billion US dollars, exceeding the value of crude oil imports of 7.5 billion US dollars. As of August 2018, the value of imported fuel is also higher than crude oil imports. A total of 7.4 billion US dollars was spent on fuel imports, while 5.5 billion US dollars of crude oil imports.

According to Executive Director of Indonesian Resources Studies (IRESS) Marwan Batubara in Jakarta, delays in completing the construction of new refineries and increasing refinery capacity to 2026 harm PT Pertamina (Persero) and could disrupt the rupiah exchange rate against the US dollar.

Indonesia also loses the potential of gaining added value from refinery and petrochemical products. Marwan said the delay could affect public confidence in the government's sincerity in building refineries. The delay in building refineries has made Indonesia increasingly dependent on imports. In fact, imports are often a hunting ground for oil and gas mafia rents.

Nicke Widyawati

Previously, Pertamina's Managing Director Nicke Widyawati admitted there were delays in the construction of new refineries and the increase in existing refineries. However, he refused to explain what caused the delay. According to him, it's better late than nothing.

Balikpapan refinery

Last Monday (10/12/2018), Pertamina signed a design, construction and engineering (EPC) contract for the development of the Balikpapan refinery, East Kalimantan. Meanwhile, President of the Indonesian Petroleum Association (IPA) Tumbur Parlindungan said the government's ambitions building new refineries must be accompanied by efforts to find oil and gas reserves through exploration.

Because, without the discovery of new reserves, Indonesia has not been completely free of imports despite having refineries in large capacity. The capacity of Indonesia's oil refineries is currently only 1 million barrels per day. In fact, national fuel consumption reaches 1.5 million-1.6 million barrels per day, where the shortfall is met through imports of 600 thousand barrels per day.

IN INDONESIAN

Penundaan Kilang Dinilai Merugikan

Tertundanya pembangunan kilang baru dan peningkatan kapasitas kilang berpotensi membuat angka impor bahan bakar minyak membengkak. Pada 2012 nilai impor minyak mentah dan bahan baku minyak mencapai 16,5 miliar dollar AS. Pemerintah didesak konsisten dengan cita-cita membangun kilang di dalam negeri.

Sepanjang 2017, nilai impor Bahan Bakar Minyak (BBM) mencapai 9 miliar dollar AS, melampaui nilai impor minyak mentah yang 7,5 miliar dollar AS. Hingga Agustus 2018, nilai impor BBM juga lebih tinggi daripada impor minyak mentah. Sebanyak 7,4 miliar dollar AS dibelanjakan untuk impor BBM, sedangkan impor minyak mentah 5,5 miliar dollar AS.

Menurut Direktur Eksekutif Indonesian Resources Studies (IRESS) Marwan Batubara di Jakarta, tertundanya penuntasan pembangunan kilang baru dan peningkatan kapasitas kilang menjadi tahun 2026 merugikan PT Pertamina (Persero) dan dapat mengganggu nilai tukar rupiah terhadap dollar AS. 

Indonesia juga kehilangan potensi memperoleh nilai tambah dari produk kilang dan petrokimia. Marwan menyebut keterlambatan itu bisa memengaruhi kepercayaan publik terhadap kesungguhan pemerintah membangun kilang. Keterlambatan membangun kilang membuat Indonesia semakin tergantung pada impor. Padahal, impor sering menjadi lahan perburuan rente mafia migas.

Sebelumnya, Direktur Utama Pertamina Nicke Widyawati mengakui ada keterlambatan pembangunan kilang baru dan peningkatan kilang yang ada. Namun, dirinya menolak menjelaskan apa penyebab keterlambatan itu. Menurut dia, lebih baik terlambat daripada tidak sama sekali.

Senin (10/12/2018) lalu, Pertamina menandatangani kontrak pengerjaan rancangan, konstruksi, dan rekayasa (EPC) untuk pengembangan kilang Balikpapan, Kalimantan Timur. Sementara itu, Presiden Asosiasi Perminyakan Indonesia (IPA) Tumbur Parlindungan mengatakan, ambisi pemerintah

membangun kilang baru harus dibarengi usaha menemukan cadangan migas melalui eksplorasi.

Sebab, tanpa penemuan cadangan baru, Indonesia belum sepenuhnya terbebas dari impor meski punya kilang dalam kapasitas besar. Kapasitas kilang minyak Indonesia saat ini hanya 1 juta barel per hari. Padahal, konsumsi BBM nasional mencapai 1,5 juta-1,6 juta barel per hari, dimana kekurangannya dipenuhi melalui impor sebesar 600 ribu barel per hari.

Kompas, Page-18, Saturday, Dec 15, 2018

Six Oil and Gas Projects Start Production

Investment Value of Rp. 4.35 Trillion

The supply of oil and gas has the potential to increase. The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) noted that there are six upstream oil and gas projects that will be operational this year. Its total production capacity reaches 15.5 thousand bopd (barrel oil per day) and 105 mmscfd with an investment value of USD 300 million or Rp 4.35 trillion.

Head of SKK Migas Program and Communication Division Whisnu Prabawa Taher said the project was spread. Three projects in Sumatra, 2 projects in Java, and 1 in Kalimantan.

"Based on operate; 4 Pertamina and 2 Medco" he said.

Projects that will be onstream (producing) in Sumatra are gas projects. Namely, optimization of the East Musi SKG Flare LP owned by PT Pertamina EP. The EPC (engineering, procurement and construction) investment value of USD 1 1.3 million with an estimated peak production of 15 mmscfd has been onstream in March 2018.

Project Built by PT Medco

Then, the Block A project built by PT Medco Blok A. The EPC investment value is estimated at USD 253.7 million. Its production facility capacity is 3,100 bopd and 55 mmscfd. The project has been fully operational in November 2018. Medco through PT Medco EP Indonesia is also optimizing the Lica field production facilities. The EPC investment issued reached USD 8.5 million with a production facility capacity of 4,000 bopd. Meanwhile, the estimated peak production of 3,700 bopd,

"The onstream estimate is December 2018. Currently the employment status reaches 94 percent," Wisnu said.

On Java, the project that will operate is the PT PHE ONWJ SP field with EPC investment of USD 50.7 million. The capacity of the project's production facilities reaches 30 mmscfd with estimated peak production in the same figure. Then, the PT Pertamina EP Poleng Asset 4 Field subsea pipeline development project with EPC investment worth USD 16.1 million.

"The production facility capacity is 700 bopd with an estimated peak production of 700 bopd already onstream on September 13, 2018," he said.

In Kalimantan there are oil and gas projects that have been operating in November 2018, namely Nibung Gathering Station.

IN INDONESIAN

Enam Proyek Migas Mulai Produksi

Nilai Investasi Rp 4,35 Triliun

Pasokan minyak dan gas bumi berpotensi bertambah. Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mencatat, ada enam proyek hulu migas yang akan beroperasi tahun ini. Total kapasitas produksinya mencapai 15,5 ribu bopd (barrel oil per day) dan 105 mmscfd dengan nilai investasi USD 300 juta atau Rp 4,35 triliun.

Kepala Divisi Program dan Komunikasi SKK Migas Whisnu Prabawa Taher mengatakan, proyek tersebut tersebar. Tiga proyek di Sumatera, 2 proyek di Jawa, dan 1 di Kalimantan. 

"Berdasar operate; 4  Pertamina dan 2 Medco" ujarnya.

Proyek yang akan onstream (berproduksi) di Sumatera adalah proyek gas. Yakni, optimasi LP Flare SKG Musi Timur milik PT Pertamina EP. Nilai investasi EPC (engineering, procurement and construction) sebesar USD 1 1,3 juta dengan estimasi produksi puncak sebesar 15 mmscfd sudah onstream pada Maret 2018.

Lalu, proyek Blok A yang di bangun PT Medco Blok A. Nilai investasi EPC diperkirakan sebesar USD 253,7 juta. Kapasitas fasilitas produksinya sebesar 3.100bopd dan 55 mmscfd. Proyek tersebut telah beropersi penuh pada November 2018. Medco melalui PT Medco EP Indonesia juga melakukan optimasi fasilitas produksi lapangan Lica. Investasi EPC yang dikeluarkan mencapai USD 8,5 juta dengan kapasitas fasilitas produksi sebesar 4.000 bopd.

Adapun, estimasi produksi puncak sebesar 3.700 bopd, 

”Estimasi onstream pada Desember 2018. Saat ini status pekerjaan mencapai 94 persen," kata Wisnu.

Di Jawa, proyek yang akan beroperasi adalah lapangan SP PT PHE ONWJ dengan investasi EPC sebesar USD 50,7 juta. Kapasitas fasilitas produksi proyek tersebut mencapai 30 mmscfd dengan estimasi produksi puncak di angka yang sama. Kemudian, proyek pembangunan subsea pipeline Lapangan Poleng PT Pertamina EP dengan investasi EPC senilai USD 16, 1 juta. 

"Kapasitas fasilitas produksi sebesar 700 bopd dengan estimasi produksi puncak sebesar 700 bopd sudah onstream pada 13 September 2018," katanya.

Di Kalimantan terdapat proyek migas yang telah beroperasi pada November 2018, yakni Gathering Station Nibung.

Jawa Pos, Page-6, Saturday, Dec 15, 2018