Government Extends Management of NSB Block

The government has extended the management of the North Sumatra B (NSB) Block starting Monday 18 November 2019. The oil and gas (oil and gas) block is a joint project between PT Pertamina Hulu Energi (PHE) and Aceh's regionally owned business entity (BUMD). Provision of provisional management extension is aimed at providing investment certainty.

"Want to invest, the cooperation must be clear first because if it is not clear how to invest," explained Djoko Siswanto, Acting Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM).

For information, previously the Ministry of Energy and Mineral Resources has provided a temporary extension option for 45 days starting October 3, 20 19. But the government then assesses that the 45 day period is too fast. 

    Furthermore, the government hopes that Pertamina Hulu Energi and BUMD can further discuss plans to manage the block in business to business (B2B) and immediately make a decision. The profit sharing scheme for the block is cost recovery. Meidawati, Director of PHE confirmed the news of the NSB Block management extension.

"That's right, a temporary extension for one year," said Meidawati.

Meidawati

Previously, PHE management offered two calculations namely gross split and cost recovery. At that time they did not clearly state the scheme chosen while the Aceh Government consistently requested the use of a cost recovery scheme. Just so you know, the NSB Block was originally under the auspices of ExxonMobil and has been in production since 1977. Negotiations between the central government, regional governments and PHE are indeed very difficult.

IN INDONESIA

Pemerintah Memperpanjang Pengelolaan Blok NSB

Pemerintah memberikan perpanjangan untuk pengelolaan Blok North Sumatra B (NSB) mulai Senin 18 Novenber 2019. Blok minyak dan gas (migas) tersebut  adalah proyek kerjasama antara PT Pertamina Hulu Energi (PHE) dengan badan usaha milik daerah (BUMD) Aceh. Pemberian perpanjangan pengelolaan  sementara itu bertujuan untuk memberikan kepastian investasi. 

"Mau investasi kan, kerjasamanya harus jelas dulu karena kalau belum jelas bagaimana mau  investasi," terang Djoko Siswanto, Pelaksana Tugas Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM).

Sebagai informasi, sebelumnya Kementerian ESDM telah memberikan opsi perpanjangan sementara selama 45 hari mulai 3 Oktober 20 19. Namun pemerintah kemudian menilai jika waktu 45 hari tersebut terlalu cepat. Selanjtnya pemerintah berharap, Pertamina Hulu Energi dan BUMD dapat membahas lebih lanjut  rencana pengelolaan blok secara business to business (B2B) dan segera mengambil keputusan. Adapun skema bagi hasil untuk blok itu yakni cost recovery. Meidawati, Direktur PHE membenarkan kabar perpanjangan pengelolaan Blok NSB. 

"Benar, perpanjangan sementara selama satu tahun," tutur Meidawati

Sebelumnya, mananajemen PHE menyodorkan dua penghitungan yakni gross split maupun cost recovery. Saat itu mereka belum secara jelas menyebutkan skema yang dipilih sementara Pemerintah Aceh konsisten tetap meminta penggunaan skema cost recovery. Asal tahu, semula Blok Blok NSB berada di bawah naungan ExxonMobil dan berproduksi sejak 1977. Negosiasi antara pemerintah pusat, pemerintah daerah dan PHE  memang sangat sulit.

Kontan, Page-14, Tuesday, Nov 19, 2019

Cepu Block Project Will Be Speeded Up

The Central Processing Facility of Banyuurip Bojonegoro crude oil in East Java, is certain to get an additional 10 thousand barrels per day from Kedungkeris Sukoharjo Field, Kalitidu Bojonegoro District. Crude oil is flowed in December 2019, currently in the process of finishing facilities for crude oil flow. 

     Head of Public Relations of PT Meindo Elang Indah Ahnan said there was a construction company working on a 16-kilometer pipeline from Kedungkeris Field to Banyuurip Bojonegoro and an oil-cooled building in Kedungkeris, Sukoharjo Village. It is targeted that the project can be completed according to the target set by the company because of the initial work in 2018.

"The pipeline was completed in September 2019 and now all that's needed is to tidy up the cooling building. Especially on the twenty-first of this month the crude oil has begun to flow or the term is trial or start up, "he explained.

ExxonMobil Cepu Limeted (EMCL)

As is known, the Kedungkeris Field was explored by ExxonMobil Cepu Limeted (EMCL) in 2011 and it is known that there is an oil content of 20 million barrels. To add Banyuurip production, also known as the Cepu Block, a pipeline and other facilities will be carried out in the field. 

    So that the presence of the Kedungkeris Field is expected to increase Bojonegoro's Regional Original Revenue (PAD). That was recognized by ExxonMobil Cepu Limited (EMCL) Field Public and Government Affairs Manager Rexy Mawardijaya.

Rexy Mawardijaya

"The shareholders of the Cepu Block remain and produce for PAD Bojonegoro, because the management rights are carried out by ExxonMobil, Pertamina EP Cepu and the BUMD ampat cooperating with the Cepu Block, one of which is Bojonegoro," he said.

He continued, ExxonMobil continued to develop the Kedung Keris Field project and currently the work has reached more than ninety percent. Initial crude oil is expected to flow by the end of 2019. According to him, currently from the Banyuurip Field, 220 thousand barrels per day is obtained, so that the flow of oil from Kedungkeris can be additional to Banyuurip.

IN INDONESIA

Proyek Blok Cepu Akan Dikebut

Pusat pengolahan (Central Processing Facility) minyak mentah Banyuurip Bojonegoro Jawa Timur, dipastikan akan mendapatkan tambahan 10 ribu barel perhari dari Lapangan Kedungkeris Sukoharjo Kecamatan Kalitidu Bojonegoro. Minyak mentah dialirkan di Desember 2019 itu, saat ini sedang melakukan finishing fasilitas untuk mengalirnya minyak mentah. 

    Kepala Humas PT Meindo Elang Indah Ahnan mengatakan ada perusahaan konstruksi yang mengerjakan pipa sepanjang 16 kilometer dari Lapangan Kedungkeris hingga Banyuurip Bojonegoro dan bangunan pendingin minyak di Kedungkeris Desa Sukoharjo. Ditargetkan proyek tersebut dapat selesai sesuai target yang ditetapkan perusahaan karena awal pengerjaannya pada 2018 lalu.

“Pengerjaan pipa sudah selesai di September 2019 lalu dan kini tinggal merapikan bangunan pendingin. Apalagi tanggal dua puluh satu bulan ini sudah mulai dialirkan minyak mentahnya atau istilahnya ujicoba atau start up,” jelasnya.

Seperti diketahui, Lapangan Kedungkeris dieksplorasi ExxonMobil Cepu Limeted (EMCL) di 2011 silam dan diketahui ada kandungan minyak 20 juta barel. Untuk menambahkan produksi Banyuurip atau yang dikenal dengan sebutan Blok Cepu, kemudian dilakukan pengerjaan pipa dan fasilitas lainnya di lapangan. Sehingga dengan keberadaan Lapangan Kedungkeris diharapkan dapat menambah Pendapatan Asli Daerah (PAD) Bojonegoro. Hal itu diakui Field Public and Government Affairs Manager ExxonMobil Cepu Limited (EMCL) Rexy Mawardijaya. 

“Shareholder Blok Cepu tetap dan menghasilkan untuk PAD Bojonegoro, karena hak kelolanya dilakukan ExxonMobil, Pertamina EP Cepu dan ampat BUMD kerja sama Blok Cepu, salah satunya Bojonegoro,” katanya.

Lanjutnya, ExxonMobil terus mengembangkan proyek Lapangan Kedung Keris dan saat ini pengerjaan telah mencapai lebih dari sembilan puluh persen. Minyak mentah perdana diharapkan mengalir pada akhir 2019. Menurutnya, saat ini dari Lapangan Banyuurip diperoleh 220 ribu barel perhari, sehingga dengan mengalirnya minyak dari Kedungkeris dapat menjadi tambahan untuk Banyuurip.

Duta Masyarakat, Page-15, Monday, Nov 18, 2019

Lion Energy Releases 40% Shares in East Seram Block

Lion Energy Limited sells a 40% participating interest / PI ownership to the Taiwanese oil and gas company, CPC Corporation. Lion Energy obtained the management rights of the East Seram Block after winning the auction last year. 

Lion Energy Taiwan

     In its official statement, Lion Energy revealed that the transfer of PI was carried out through its subsidiary Balam Energy Pte Ltd to CPC Corporation's subsidiary, OPIC East Seram Corporation (OESC). Both have signed a share release agreement (Farm Out Agreement / FOA) on 25 September 2019.

Based on the FOA, OESC agreed to pay 80% of the costs incurred related to the East Seram Block PSC production sharing contract until August, or around US $ 940 thousand depending on the audit results. The Taiwanese oil and gas company will also replace 40% of the performance bond guarantee of US $ 150 thousand. CPC will also fund 80% of seismic costs which reached US $ 8.5 million which is part of the work commitment.

Meanwhile, if the cost exceeds this number, it will be divided based on the amount of ownership. Other funding that CPC must fund is 40% of joint venture costs starting September 1 under a Joint Operating Agreement (JOA) and 20% of well drilling costs as a follow-up to exploration well drilling.

Currently, Lion Energy holds a 100% stake in the East Seram Block. After the transaction occurs, Balam Energy will hold a PI of 60% and OPIC East Seram 40%. However, the completion of this transaction is still awaiting the execution of the JOA and approval from the Government of Indonesia.

Lion Energy Executive Chairman Tom Soulsby said, this agreement shows Lion's strategy to focus on significant potential in the Seram region that has been proven but has not yet been fully explored. Specifically, this agreement will support the development of the East Seram Block which has a prospective resource of 1.24 billion barrels of oil equivalent. At present, it has made good progress in planning seismic surveys for delineation of key points.

"And this funding arrangement and partnership with OESC will enable us to carry out the first seismic phase before mid-2020," he said in his official statement.

Lion Energy plans to carry out a 500 kilometer 2D seismic survey in 2020. This seismic survey will reach the high potential prospects and points identified in the East Seram Block. Planning this survey has been going well. Lion is optimistic that this survey will produce locations that are ready to be drilled.

In its official statement, CPC Corporation stated that with the acquisition of shares in the East Seram Block, the oil and gas company will again manage exploration blocks in Indonesia. The company will carry out exploration activities in the Seram Block after the signing of the JOA. 

    CPC itself has operated in upstream oil and gas Indonesia for 61 years. The East Seram Block contract was signed on July 17, 2018. At that time, Lion Energy Ltd promised a definite commitment of US $ 900 thousand and a signature bonus of US $ 500 thousand. The activities that will be carried out are G&G exploration and seismic data acquisition.

IN INDONESIA

Lion Energy Lepas 40% Saham Blok East Seram

Lion Energy Limited menjual sebagian kepemilikan participating interest/PI sebesar 40% kepada perusahaan migas Taiwan, CPC Corporation. Lion Energy memperoleh hak pengelolaan Blok East Seram setelah memenangkan lelang pada tahun lalu. 

     Dalam keterangan resminya, Lion Energy mengungkapkan pengalihan PI ini dilakukan melalui anak usahanya Balam Energy Pte Ltd ke anak usaha CPC Corporation, OPIC East Seram Corporation (OESC). Keduanya telah menandatangani kesepakatan pelepasan saham (Farm Out Agreement/FOA) pada 25 September 2019 lalu.

Berdasarkan FOA tersebut, OESC sepakat untuk membayar 80% biaya yang telah dikeluarkan terkait production sharing contract/PSC Blok East Seram hingga Agustus atau sekitar US$ 940 ribu tergantung hasil audit. Perusahaan migas Taiwan itu juga akan mengganti 40% dari jaminan performance bond sebesar US$ 150 ribu. CPC juga akan mendanai 80% biaya seismik yang mencapai US$ 8,5 juta yang merupakan bagian dari komitmen kerja. 

Sementara jika biayanya melebihi angka tersebut, maka akan dibagi berdasarkan besaran kepemilikan. Pembiayaan lain yang harus didanai CPC adalah 40% biaya perusahaan patungan mulai 1 September di bawah kesepakatan operasi bersama (Joint Operating Agreement/JOA) dan 20% dari biaya pengeboran sumur sebagai tindak lanjut pengeboran sumur eksplorasi.

Saat ini, Lion Energy memegang 100% saham Blok East Seram. Setelah transaksi terjadi, maka Balam Energy akan memegang PI 60% dan OPIC East Seram 40%. Namun, penyelesaian transaksi ini masih menunggu eksekusi JOA dan persetujuan dari Pemerintah Indonesia. 

Executive Chairman Lion Energy Tom Soulsby menuturkan, kesepakatan ini menunjukkan strategi Lion untuk fokus pada potensi signifikan di wilayah Seram yang telah terbukti namun belum sepenuhnya dieksplorasi. Khususnya, kesepakatan ini akan mendukung pengembangan Blok East Seram yang memiliki sumber daya prospektif 1,24 miliar barel setara minyak. Saat ini, pihaknya telah membuat kemajuan yang cukup bagus dalam perencanaan survei seismik untuk deliniasi titik-titik kunci. 

“Dan pengaturan pendanaan dan kemitraan dengan OESC ini akan membuat kami bisa melaksanakan tahap pertama seismik sebelum pertengahan 2020,” tutur dia dalam keterangan resminya. 

Lion Energy berencana melakukan kegiatan survei seismik 2D sepanjang 500 kilometer pada 2020. Survei seismik ini akan menjangkau prospek-prospek dan titik-titik (leads) berpotensi tinggi yang telah teridentifikasi di Blok East Seram. Perencanaan survei ini telah berjalan baik. Lion optimis survei ini akan menghasilkan lokasi-lokasi yang siap dibor. 

Dalam keterangan resminya, CPC Corporation menyatakan bahwa dengan akuisisi saham di Blok East Seram, maka perusahaan migas itu kembali mengelola blok eksplorasi di Indonesia. Perusahaan akan melaksanakan kegiatan eksplorasi di Blok Seram pasca penandatanganan JOA. 

    CPC sendiri telah beroperasi di hulu migas Indonesia selama 61 tahun. Kontrak Blok East Seram diteken pada 17 Juli 2018. Pada saat itu, Lion Energy Ltd menjanjikan komitmen pasti US$ 900 ribu dan bonus tanda tangan US$ 500 ribu. Kegiatan yang bakal dilakukan yakni eksplorasi G&G dan akuisisi data seismik.

Investor Daily, Page-9, Saturday, Nov 16, 2019

Progress of the Jambaran Tiung Biru Project Reaches 25%

PT Pertamina through its subsidiary PT Pertamina EP Cepu (PEPC) ensures the Jambaran Tiung Biru (JTB) project has reached 25%. As a national strategic project, JTB located in Bojonegoro has entered the period of construction of gas processing facilitators (GPF).

Dharmawan H Samsu

PT Pertamina's Upstream Director, Dharmawan H Samsu, said the JTB project continued to show progress and was better than the target. Until the second quarter of 2019, the construction of the project has progressed 25% or exceeded the target set.

"This project is very strategic and a priority of the government, so we are committed to accelerating in order to optimize the production of oil and gas reserves, encourage economic growth, while improving the welfare of the community in the operational area," said Dharmawan.

The presence of the JTB project also provides benefits during the construction period. One of them is labor absorption. To date there are more than 2,000 workers involved in the JTB project, with a composition of 70% local and 30% non-local workers, which are divided into three categories of skilled, semi-skilled and un-skilled. 

   With a gas production capacity of 192 million cubic feet per day (mmscfd) and 2.5 trillion feet (tcf) reserves that will flow through the Gresik-Semarang gas pipeline, the JTB project will have a double effect to reduce the supply deficit to the industry.

IN INDONESIA

Progres Proyek Jambaran Tiung Biru Mencapai 25%

PT Pertamina melalui anak usahanya PT Pertamina EP Cepu (PEPC) memastikan proyek Jambaran Tiung Biru (JTB) telah mencapai 25%. Sebagai proyek strategis nasional, JTB yang berlokasi di Bojonegoro telah memasuki masa konstruksi gas processing facilitfles (GPF). 

Direktur Hulu PT Pertamina, Dharmawan H Samsu, menyebutkan proyek JTB terus menunjukkan kemajuan dan lebih baik dari target. Hingga kuartal II 2019, pembangunan proyek telah mengalami kemajuan 25% atau melampaui target yang ditetapkan. 

"Proyek ini sangat strategis dan menjadi prioritas pemerintah, sehingga kami berkomitmen melakukan percepatan agar dapat mengoptimalkan produksi cadangan migas, mendorong pertumbuhan ekonomi, sekaligus meningkatkan kesejahteraan masyarakat di Wilayah operasi," ujar Dharmawan.

Kehadiran proyek JTB juga memberikan manfaat dalam masa konstruksi. Salah satunya penyerapan tenaga kerja. Hingga kini terdapat lebih dan 2.000 pekerja terlibat dalam proyek JTB, dengan komposisi 70% tenaga kerja lokal dan 30% non-lokal, yang terbagi dalam tiga kategori skilled, semi skilled dan un-skilled. 

    Dengan kapasitas produksi gas 192 juta kaki kubik per hari (mmscfd) dan cadangan 2.5 triliun kaki (tcf) yang akan mengalir melalui pipa gas Gresik-Semarang, proyek JTB akan memberikan efek ganda untuk menekan defisit pasokan ke industri.

Kontan, Page-14, Friday, Nov 15, 2019

Realization of the Jambaran Tiung Biru Project Reaches 25%

Pertamina through its subsidiary PT Pertamina EP Cepu (PEPC) continues to improve the Jambaran Tiung Biru (JTB) project. As a national strategic project, JTB which is located in Bojonegoro, East Java, has entered the Gas Processing Facilities (GPF) construction period. Until the second quarter of 2019, the project has progressed 25% and is in a position faster than the target.

PT Pertamina EP Cepu (PEPC)

"This project is very strategic and a priority of the government so we are committed to accelerating in order to optimize the production of oil and gas reserves, encourage economic growth while increasing the welfare of the community in the operational area," said Pertamina Upstream Director, Dharmawan H. Samsu.

Dharmawan added, the importance of the JTB project also provided benefits during the construction period, one of which was employment. To date, there are more than 2,000 workers involved in the JTB project, with a composition of 70% local and 30% non-local workers, which are divided into three categories of skilled, semiskilled, and unskilled.

In addition, according to Dharmawan, the completion of the Jambaran-Tiung Biru gas field development project is highly anticipated by the industry in Java. With a gas production capacity of 192 million cubic feet per day (MMSCFD) and 2.5 trillion cubic feet (TCF) reserves which will be channeled through the Gresik-Semarang gas pipeline, the JTB project will have a multiplier effect in overcoming the supply deficit for at least 19 industrial sectors in Central and East Java, including the textile, tire, steel, ceramics, and food and beverage industries.

IN INDONESIA

Realisasi Proyek Jambaran Tiung Biru Capai 25%

Pertamina melalui anak usahanya PT Pertamina EP Cepu (PEPC) terus meningkatkan proyek Jambaran Tiung Biru (JTB). Sebagai proyek strategis nasional, JTB yang berlokasi di Bojonegoro, Jawa Timur ini telah memasuki masa konstruksi Gas Processing Facilities (GPF). Hingga kuartal ke-2 tahun 2019, proyek telah mengalami kemajuan 25% dan dalam posisi lebih cepat dari target.

“Proyek ini sangat strategis dan menjadi prioritas pemerintah sehingga kami berkomitmen untuk melakukan percepatan agar dapat mengoptimalkan produksi cadangan migas, mendorong pertumbuhan ekonomi sekaligus meningkatkan kesejahteraan masyarakat di wilayah operasi,” kata Direktur Hulu Pertamina, Dharmawan H. Samsu.

Dharmawan menambahkan, nilai penting proyek JTB juga memberikan manfaat dalam masa konstruksi, salah satunya penyerapan tenaga kerja. Hingga saat ini, terdapat lebih dari 2.000 pekerja terlibat dalam proyek JTB, dengan komposisi 70% tenaga kerja lokal dan 30% non-lokal, yang terbagi dalam tiga kategori skilled, semiskilled, dan unskilled. 

Selain itu, menurut Dharmawan, penyelesaian proyek pengembangan lapangan gas unitisasi Jambaran-Tiung Biru ini sangat dinantikan oleh industri di Pulau Jawa. Dengan kapasitas produksi gas sebesar 192 juta kaki kubik per hari (MMSCFD) dan cadangan 2,5 triliun kaki kubik (TCF) yang akan dialirkan melalui pipa gas Gresik-Semarang, proyek JTB akan memberikan efek pengganda (multiplier effect) dalam mengatasi defisit pasokan bagi setidaknya 19 sektor industri di Jawa Tengah dan Jawa Timur, termasuk industri tekstil, ban, baja, keramik, serta makanan dan minuman.

Investor Daily, Page-9, Friday, Nov 15, 2019

Two Oil and Gas Projects Potentially Backward

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) stated that there are two oil and gas projects whose operational schedule (on stream) will go back to next year 2020, namely the Bukit Tua Phase 3 and Buntal Projects. Both were originally operational at the end of 2019.

SKK Migas Deputy for Operations Julius Wiratno said, not all projects planned to operate by the end of this year will be realized. One project, the Buntal-5 Project, is certain to be delayed in operation until 2020. The same thing has the potential to occur for the Bukit Tua Project Phase 3.

"The pufferfish has been delayed because the drilling rig has entered Indonesia from Vietnam. Bukit Tua may be delayed, but we are recovering, "he said.

The Puffer-5 Project is carried out by Medco E&P Natuna Ltd. The project, with an investment value of US $ 33 million, is targeted to produce gas of 45 million cubic feet per day (mmscfd). The project's scope of work includes the installation of a new 8km umbilical subsea, subsea production control system, subsea protection structure, 8 inch flowline of 175 m, modification of existing SCU software, and pigging facilities.

Furthermore, the Bukit Tua Phase 3 Project in the Ketapang Block was worked on by Petronas Carigali Ketapang II Ltd. The project is estimated to produce 3.82 barrels of oil per day (bpd) and 31 mmscfd of gas. 

    The US $ 15 million project includes the construction of a deck extension on the WHP BTJT-A eskisting, installation of four conductors and clamps, modification of the existing IRCD for chemical injection, addition of a new wellhead control panel, and installation of a wet gas flowmeter.

The two projects are planned to start operating the rest of the year along with four other projects. The Buntal-5 project, according to SKK Migas data, was originally operational in November 2019. While the Bukit Tua Project Phase 3 is scheduled to start operating in December 2019. The other four projects will operate on schedule.

"The remaining projects [which will be operational this year] are Kedung Keris, Bison-Iguana-Gajah Putri, Temelat, Harvest, and Big Bamboo," said Julius.

Premiere Oil Natuna Sea BV

The Bison-Iguana-Gajah Putri project with 163 mmscfd gas production was undertaken by Premiere Oil Natuna Sea BV with an investment of US $ 171 million. The project project by PT Medco E&P Indonesia with an estimated production of 10 mmscfd and an investment of US $ 11 million.

the Cepu Block by EMCL

Harvest Project with an estimated production of 2,000 bpd by PetroChina International Jabung Ltd with an investment of US $ 17 million. Finally, the Full Well Stream Kedung Keris Project in the Cepu Block was undertaken by ExxonMobil Cepu Limited (EMCL) with a production of 3,800 bpd and an investment of US $ 72 million. Regarding the Bamboo Project, Julius said that this was an additional project in 2019.

"We are trying to speed up the Big Bamboo Project to increase oil and gas production in 2019," he said. Although he admitted, the oil and gas production produced by this project was not large to replace the delayed production of Buntal-5 and Bukit Tua Phase 3. "Additional oil from the Great Bamboo Field is approximately 2,700-3,000 bpd," he added.

In addition to two potentially delayed projects, SKK Migas also ensured the cancellation of one project that was originally operational in 2019, namely the YY Project undertaken by PT Pertamina Hulu Offshore North West Java (PHE ONWJ). Because, there was an incident of gas and oil leakage in the project.

PT Pertamina Hulu Offshore North West Java (PHE ONWJ)

The project was originally planned to produce 4,605 ​​bpd of oil and 25.5 mmscfd of gas. However, Julius had revealed, it was difficult to reach the target of lifting oil and gas in 2019, namely 775 thousand bpd of oil and 7,000 mmscfd of gas. Until the end of October 2019, the realization of oil lifting was recorded at 742.9 thousand bpd and 5,892 mmscfd of gas. 

    In addition to pursuing on-stream projects, his office is also trying to realize a work program in 2019, such as well drilling and well maintenance. It will also drain stock in several terminals which can add 500-600 barrels.

"The end of 2019 Outlook is lifting 746.2 thousand bpd of oil and 5,896 mmscfd of gas. It is very challenging (reaching the target), but we are still trying, "he said.

IN INDONESIA

Dua Proyek Migas Berpotensi Mundur

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyatakan terdapat dua proyek migas yang jadwal operasinya (on stream) mundur ke tahun depan 2020, yakni Proyek Bukit Tua Phase 3 dan Buntal. Keduanya sedianya beroperasi di akhir tahun 2019.

Deputi Operasi SKK Migas Julius Wiratno menuturkan, tidak semua proyek yang direncanakan beroperasi pada akhir tahun ini akan terealisasi. Salah satu proyek, yakni Proyek Buntal-5 dipastikan akan tertunda operasinya hingga tahun 2020. Hal yang sama berpotensi terjadi untuk Proyek Bukit Tua Phase 3.

“Buntal delayed karena drilling rig-nya telah masuk Indonesia dari Vietnam. Bukit Tua mungkin delay, tetapi sedang kami recovery,” kata dia.

Proyek Buntal-5 dikerjakan oleh Medco E&P Natuna Ltd. Proyek dengan nilai investasi US$ 33 juta ini ditargetkan bisa menghasilkan gas sebesar 45 juta kaki kubik per hari (million standard cubic feet per day/ mmscfd). Lingkup kerja proyek ini mencakup pemasangan new subsea umbilical 8 km, subsea production control system, subsea protection structure, flowline 8 inch sepanjang 175 m, modifikasi eksisting SCU software, dan pigging facilities. 

Selanjutnya, Proyek Bukit Tua Phase 3 di Blok Ketapang digarap oleh Petronas Carigali Ketapang II Ltd. Proyek ini diperkirakan menghasilkan minyak 3.82 barel per hari (bph) dan gas 31 mmscfd. Proyek senilai US$ 15 juta ini mencakup pembangunan deck extention pada esksisting WHP BTJT-A, pemasangan empat buah conductor dan clamp, modifikasi eksisting IRCD untuk chemical injection, penambahan wellhead control panel baru, serta pemasangan wet gas flowmeter.

Kedua proyek ini direncanakan mulai beroperasi pada sisa tahun ini bersama empat proyek lainnya. Proyek Buntal-5, sesuai data SKK Migas, sedianya beroperasi pada November 2019. Sementara Proyek Bukit Tua Phase 3 dijadwalkan mulai beroperasi pada Desember 2019. Empat proyek lainnya akan beroperasi sesuai jadwal.

“Sisa proyek [yang akan operasi tahun ini] adalah Kedung Keris, Bison-Iguana-Gajah Putri, Temelat, Panen, dan Bambu Besar,” tutur Julius.

Proyek Bison-Iguana-Gajah Putri dengan produksi gas 163 mmscfd dikerjakan oleh Premiere Oil Natuna Sea BV dengan nilai investasi US$ 171 juta. Proyek Temelat oleh PT Medco E&P Indonesia dengan perkiraan produksi 10 mmscfd dan nilai investasi US$ 11 juta. 

Proyek Panen dengan estimasi produksi 2.000 bph oleh PetroChina International Jabung Ltd dengan investasi US$ 17 juta. Terakhir, Proyek Full Well Stream Kedung Keris di Blok Cepu dikerjakan oleh ExxonMobil Cepu Limited dengan produksi 3.800 bph dan investasi US$ 72 juta. Terkait Proyek Bambu, Julius menyebutkan bahwa ini merupakan proyek tambahan di 2019. 

“ Proyek Bambu Besar kami coba speed up untuk menambah produksi migas di 2019,” ujarnya. Walaupun diakuinya, produksi migas yang dihasilkan proyek ini tidak besar untuk mengganti produksi yang tertunda dari Buntal-5 dan Bukit Tua Phase 3. “Tambahan minyak dari Lapangan Bambu Besar kira-kira 2.700-3.000 bph,” tambahnya.

Selain dua proyek yang berpotensi tertunda, SKK Migas juga memastikan batalnya satu proyek yang sedianya beroperadi pada tahun 2019, yakni Proyek YY yang dikerjakan oleh PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ). Pasalnya, terjadi insiden kebocoran gas dan minyak di proyek tersebut. 

Proyek ini awalnya direncanakan menghasilkan minyak 4.605 bph dan gas 25,5 mmscfd. Meski demikian, Julius sempat mengungkapkan, sulit mencapai target lifting migas tahun 2019, yakni minyak 775 ribu bph dan gas 7.000 mmscfd. Hingga akhir Oktober 2019, realisasi lifting minyak tercatat sebesar 742,9 ribu bph dan gas 5.892 mmscfd. 

     Selain mengupayakan proyek on stream, pihaknya juga berusaha merealisasikan program kerja tahun 2019, seperti pengeboran sumur dan perawatan sumur. Pihaknya juga akan melakukan pengurasan stok di beberapa terminal yang bisa menambah 500-600 barel.

“Outlook akhir tahun 2019 ini lifting minyak 746,2 ribu bph dan gas 5.896 mmscfd. Sangat menantang (mencapai target), tetapi tetap kami usahakan,” kata dia.

Investor Daily, Page-9, Friday, Nov 15, 2019

Two Upstream Oil and Gas Projects Delayed

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) stated that there are two upstream oil and gas projects whose operating schedule is expected to retreat to the first quarter of 2020, namely the Bukit Tua Phase 3 and Buntal projects. In fact, the two projects are targeted to be operational by the end of this year along with four other oil and gas projects.

SKK Migas Deputy for Operations Julius Wiratno said the setback of the two oil and gas projects affected the performance of oil and gas production ready for sale this year. However, Julius did not explain how deep the impact was on production performance until the end of 2019.

"The Buntal-5 project is definitely backing down because the drilling rig is late entering Indonesia. The Bukit Tua Phase 3 project may also shift to 2020, but we are still recovering, "he said.

The Puffer-5 project was undertaken by Medco E&P Natuna Ltd with an investment of US $ 33 million. The project is targeted to produce 45 million cubic feet of gas per day (MMscfd). The Bukit Tua Phase 3 project in the Ketapang Block, worked on by Petronas Carigali Ketapang II Ltd with an investment of US $ 1,5 million. 

Petronas

    Bukit Tua Phase 3 is estimated to produce 3.82 barrels of oil per day (bpd) and 31 MMscfd of gas. Previously, according to SKK Migas data the Buntal-5 project was expected to operate in November 2019, while the Bukit Tua Phase 3 project would operate in December 2019.

"The rest of the project will be operational this year," said Julius.

Four other projects, namely the Bison-Iguana-Gajah Putri project, were carried out by Premiere Oil Natuna Sea BV with an investment of US $ 171 million. The project will produce 163 MMscfd of gas. The project project by PT Medco E&P Indonesia is estimated to produce 10 MMscfd. The investment value is US $ 11 million.

PetroChina International Jabung Ltd

The Harvest Project is carried out by PetroChina International Jabung Ltd with an investment of US $ 17 million. Its production is estimated at 2,000 bpd. 

the Cepu Block

    The Full Well Stream Kedung Keris Project in the Cepu Block was undertaken by ExxonMobil Cepu Limited (EMCL) with a production of 3,800 bpd. the project investment reached US $ 72 million. Even though there are projects that are backing down, Julius said there are also projects that can be accelerated.

ExxonMobil Cepu Limited (EMCL)

"We are trying to speed up the Big Bamboo Project to increase oil and gas production in 2019. Additional Bamboo Besar oil and gas fields are around 2,700-3,000 bpd," he added.

The smooth running of these projects will affect the realization of upstream oil and gas investment which is still difficult to reach the target. SKK Migas estimates that this year's upstream oil and gas investment will only reach Rp168.97 trillion US $ 12 billion. The figure only rose slightly compared to the realization of 2018 worth US $ 11.98 billion.

This relatively stagnant achievement also makes this year's oil and gas investment target of US $ 14.79 billion difficult to achieve. Based on ESDM Ministry data, the realization of upstream oil and gas investment has indeed been under pressure in the past 4 years. One of the most noticeable decreases in upstream oil and gas investment and exploration.

IN INDONESIA

Dua Proyek Hulu Migas Tertunda

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyatakan ada dua proyek hulu migas yang jadwal operasinya diperkirakan mundur ke kuartal I/ 2020, yakni proyek Bukit Tua Phase 3 dan Buntal. Padahal, kedua proyek tersebut ditargetkan dapat beroperasi pada akhir tahun ini bersama dengan empat proyek migas lainnya. 

Deputi Operasi SKK Migas Julius Wiratno mengatakan kemunduran dua proyek migas tersebut memengaruhi kinerja produksi siap jual atau lifting migas tahun ini. Namun, Julius tidak menjelaskan sedalam apa dampaknya terhadap kinerja produksi hingga akhir 2019.

“ Proyek Buntal-5 pasti mundur karena drilling rig-nya telat masuk ke Indonesia. Proyek Bukit Tua Phase 3 juga mungkin akan geser ke 2020, tetapi masih sedang kami recovery,” tuturnya.

Proyek Buntal-5 dikerjakan oleh Medco E&P Natuna Ltd dengan nilai investasi US$ 33 juta. Proyek ini ditargetkan menghasilkan gas sebanyak 45 juta kaki kubik per hari (MMscfd). Adapun proyek Bukit Tua Phase 3 di Blok Ketapang, digarap oleh Petronas Carigali Ketapang II Ltd dengan investasi US$1 5 juta. 

    Bukit Tua Phase 3 diperkirakan dapat menghasilkan minyak 3.82 barel per hari (bph) dan gas 31 MMscfd. Sebelumnya, menurut data SKK Migas proyek Buntal-5 diperkirakan beroperasi pada November 2019, sementara proyek Bukit Tua Phase 3 beroperasi pada Desember 2019.

“Sisa proyek akan beroperasi pada tahun ini,” tutur Julius.

Empat proyek lainnya, yakni proyek Bison-Iguana-Gajah Putri dikerjakan oleh Premiere Oil Natuna Sea BV dengan nilai investasi US$ 171 juta. Proyek tersebut akan memproduksi gas sebanyak 163 MMscfd. Proyek Temelat oleh PT Medco E&P Indonesia diperkirakan dapat berproduksi 10 MMscfd. Nilai investasinya US$11 juta. 

Proyek Panen dikerjakan oleh PetroChina International Jabung Ltd dengan investasi US$17 juta. Produksinya diperkirakan mencapai 2.000 bph. Untuk Proyek Full Well Stream Kedung Keris di Blok Cepu dikerjakan oleh ExxonMobil Cepu Limited (EMCL) dengan produksi 3.800 bph. investasi proyek tersebut mencapai US$72 juta. Meskipun ada proyek yang mundur, Julius mengatakan ada juga proyek yang dapat dipercepat.

“ Proyek Bambu Besar kami coba speed up untuk menambah produksi migas di 2019. Tambahan lapangan minyak dan gas Bambu Besar kira-kira 2.700-3.000 bph,” tambahnya.

Adapun kelancaran proyek-proyek tersebut akan berpengaruh pada realisasi investasi hulu migas yang masih sulit mencapai target. SKK Migas memperkirakan investasi hulu migas tahun ini hanya mencapai Rp168,97 tiriliun US$12 miliar. Angka tersebut hanya naik sedikit dibandingkan dengan realisasi 2018 senilai US$ 11,98 miliar.

Capaian yang relatif stagnan ini sekaligus membuat target investasi migas tahun ini senilai US$14,79 miliar sulit tercapai. Berdasarkan data Kementerian ESDM, realisasi investasi hulu migas memang berada dalam tekanan dalam 4 tahun terakhir. Salah satu penurunan investasi hulu migas paling terlihat dan sisi eksplorasi.

Bisnis Indonesia, Page-20, Friday, Nov 15, 2019

Pertamina Promises to Speed ​​Up Oil Refinery Project

Pertamina and Saudi Aramco are still negotiating related to the development of the Cilacap Refinery

Saudi Aramco

Until now, Indonesia's current account deficit (CAD) has not been resolved. One of the causes is the ever-increasing import of fuel oil (BBM), while the domestic oil and gas production (liffting oil and gas) is decreasing. Regarding this issue, the Coordinating Minister (Menko) Maritime and Investment, Luhut Binsar Panjaitan spoke up. Luhut said that his party conducted an evaluation of all Pertamina refinery projects, in an effort to meet fuel needs and suppress CAD.

Luhut Binsar Panjaitan

At present, there are six refinery projects that are being worked on by Pertamina, consisting of four projects / development or Refinery Development Master Plan (RDMP) and two new projects or PT Pertamina's Grass Root Refinery (GRR) VP Corporate Communication, Fajriyah Usman, said it will undertake various efforts to accelerate the construction of refineries.

Fajriyah Usman

"With acceleration there will also be efficiency in terms of costs that can be reduced," said Fajriyah in Jakarta.

Fajriyah explained, so far the construction of the refinery has been carried out in parallel. Well, one of the acceleration efforts through dual feed competition is claimed to cut the project time to one year.

"Licensing is also being managed," said Fajriyah.

Regarding the continuation of the joint venture plan with Saudi Aramco at the Cilacap Refinery, Fajriyah stressed, the discussion process was still ongoing so far. Previously, Luhut highlighted the Cilacap RDMP which is still hanging due to the very difficult partnership negotiations with Saudi Aramco. Luhut said there was no agreed final value related to the asset valuation of the Cilacap refinery.

"We evaluate the difference between Aramco and US $ 1.5 billion. If it is correct, we will certainly see other options," said Fajriyah.

According to Fajriyah, if the acquisition mechanism was not successful, Pertamina considered other mechanisms. As for the other schemes such as the provision of process fees aka toll fees. But Fajriyah did not elaborate on the mechanism. What is clear, the new mechanism is one of the topics of discussion,

"The mechanism will be discussed later, until now it is still with Aramco. We will see what December looks like," said Fajriyah.

Some time ago, Pertamina offered a scheme that Pertamina would have its own portion in the development of the Cilacap Refinery, at its own expense. PT Pertamina's Director of Processing and Petrochemical Megaprojects, Ignatius Tallulembang, said 65% -70% of the development funds came from loans, while the rest was from equity. If the development work carried out by Pertamina is completed, Saudi Aramco will be involved in the next stage of refinery development.

"So it's not a spin off anymore, it's not an asset valuation, but maybe it's like an asset we just co-created, a new one," he said.

Ignatius also ensured Pertamina continued to strive to accelerate the refinery project, as an effort to meet the needs of fuel.

"RDMP Balikpapan has entered the construction stage and is currently in the process of procuring all the main equipment," he said.

IN INDONESIA

Pertamina Janji Percepat Proyek Kilang Minyak

Pertamina dan Saudi Aramco masih bernegosiasi terkait pengembangan Kilang Cilacap

Hingga saat ini, defisit transaksi berjalan atau Current Account Deficit (CAD) Indonesia belum juga teratasi. Salah satu penyebabnya adalah impor bahan bakar minyak (BBM) yang terus membesar, sedangkan produsi minyak dan gas ( liffting migas) dalam negeri justru menurun. Mengenai persoalan tersebut, Menteri Koordinator (Menko) Maritim dan Investasi, Luhut Binsar Panjaitan angkat bicara. Luhut mengatakan pihaknya melakukan evaluasi pada semua proyek kilang Pertamina, sebagai upaya memenuhi kebutuhan BBM dan menekan CAD.

Saat ini, ada enam proyek kilang yang sedang digarap Pertamina, terdiri dari empat proyek /pengembangan atau Refinery Development Master Plan (RDMP) dan dua proyek baru atau Grass Root Refinery (GRR) VP Covporate Communication PT Pertamina, Fajriyah Usman, menyatakan pihaknya akan melakukan berbagai upaya demi mempercepat pembangunan kilang. 

"Dengan percepatan juga akan ada efisiensi dari sisi biaya yang bisa ditekan," ujar Fajriyah di Jakarta.

Fajriyah menjelaskan, selama ini pembangunan kilang telah dilakukan secara paralel. Nah, salah satu upaya percepatan melalui dual  feed competition yang diklaim memangkas waktu proyek menjadi satu tahun. 

"Perizinan juga terus diurus," kata Fajriyah.

Tentang kelanjutan rencana kongsi dengan Saudi Aramco di Kilang Cilacap, Fajriyah menegaskan, proses diskusi masih berlangsung sejauh ini. Sebelumnya, Luhut menyoroti RDMP Cilacap yang masih menggantung akibat sangat sulit negosiasi kemitraan dengan Saudi Aramco. Luhut menyebutkan belum ada nilai akhir yang disepakati terkait valuasi aset kilang Cilacap. 

"Aramco kami evaluasi selisihnya masih ada US$ 1,5 miliar. Kalau betul tetap seperti itu, tentu kami lihat pilihan lain," kata Fajriyah.

Menurut Fajriyah, jika mekanisme akuisisi tidak berhasil, maka Pertamina mempertimbangkan mekanisme lain. Adapun skema lain tersebut seperti pemberian biaya proses alias toll fee. Namun Fajriyah tidak memerinci seputar mekanisme tersebut. Yang jelas, mekanisme baru merupakan salah satu yang menjadi topik diskusi, 

"Nanti mau dibicarakan mekanismenya, sampai saat ini masih dengan Aramco. Kita lihat Desember seperti apa," kata Fajriyah.

Beberapa Waktu lalu, Pertamina menawarkan skema yakni Pertamina akan memiliki porsi sendiri dalam pengembangan Kilang Cilacap, dengan tanggungan biaya sendiri. Direktur Megaproyek Pengolahan dan Petrokimia PT Pertamina, Ignatius Tallulembang, menyebutkan 65%-70% dana pengembangan itu berasal dari pinjaman, sementara sisanya dari ekuitas. Jika bagian pengerjaan pengembangan yang dilakukan Pertamina selesai, Saudi Aramco ikut terlibat dalam pengembangan kilang tahap selanjutnya. 

"Jadi bukan spin off lagi, bukan valuasi aset, tapi mungkin seperti aset baru saja kita kerjasama bikin yang baru," ungkap dia.

Ignatius juga memastikan Pertamina terus mengupayakan percepatan proyek kilang, sebagai upaya pemenuhan kebutuhan BBM. 

"RDMP Balikpapan sudah masuk tahap konstruksi dan saat ini proses pengadaan seluruh peralatan utama," ungkap dia.

Kontan, Page-14, Thursday, Nov 14, 2019