The Kedung Keris Project makes the biggest oil-producing Cepu Block

ExxonMobil Cepu Limited (EMCL) commenced the operation of the Kedung Keris Field, Cepu Block with peak production of 10 thousand barrels per day (BPD). This field will strengthen the position of the Cepu Block as the largest oil producer in Indonesia, shifting the position of the Rokan Block which is worked on by PT Chevron Pacific Indonesia (CPI).

PT Chevron Pacific Indonesia (CPI)

Cepu, we have increased oil production. Hopefully next year there will be an additional 10 thousand BPD, so the difference in production will be further increased compared to Rokan, "said Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto when inaugurating the operation of the Kedung Keris Field.

The Rokan Block

The Rokan Block currently produces around 190 thousand BPD of oil. While Cepu Block's production is around 219 thousand BPD. Next year, the production of the Rokan Block is projected to fall because before the contract expires. On the contrary, oil production from the Cepu Block is getting higher with the operation of the Kedung Keris Field.

Louise McKenzie

The existence of the Kedung Keris project can even increase the production of the Cepu Block to 235 thousand BPD. ExxonMobil Cepu Limited President Louise McKenzie added that the Kedung Keris Field had been producing oil since November 22, ahead of schedule. At present oil production from this field is still around 5,000 BPD and will increase gradually until it reaches a peak of 10,000 BPD.

the Cepu Block

"This production will help maintain the average production of the Cepu Block which currently produces more than 25% of the national oil production which also makes ExxonMobil the number one oil producer in Indonesia," Louise McKenzie said.

EPC Kedung Keris Field Bojonegoro

The Engineering, Procurement, and Construction (EPC) contract of the Kedung Keris Project was carried out by PT Meindo Elang Indah, a local Indonesian company. The project with an investment value of US $ 76 million consists of a well site for the operation of one well and an 8-inch 8-inch underground pipeline connected to the Banyu Urip Central Processing Facility.

Kedung Keris Field BY EXXONMOBIL

Kedung Keris Field was discovered in 2011, about 15 kilometers east of the Banyu Urip Field. Based on the current evaluation, oil reserves from the Kedung Keris Field are estimated to reach 20 million barrels of oil. The two fields are located in the Cepu Block, where ExxonMobil Cepu Limited acts as the operator.

Dwi Soetjipto

Dwi continued, from the maximum production trial results, the Cepu Block production facility could produce oil up to 235 thousand BPD in safe conditions. However, the increase in production of the Cepu Block is still awaiting approval of the revised Environmental Impact Analysis (EIA). The reason is that the Amdal currently only lists a maximum production of 220 thousand BPD. Therefore, he hopes the local government can help facilitate the provision of EIA recommendations related to changes in production figures.

"It was concluded that production of 235 thousand BPD was in a safe position. Now how do we get permission to operate at that level," Dwi said.

the Banyu Urip Field

It will continue to help ExxonMobil to continue to increase production and increase exploration. As long as the Amdal revision approval has not yet been obtained, oil production from the Banyu Urip Field must be reduced following the operation of the Kedung Keris Field. This is so operating activities Cepu Block does not violate the existing EIA.

Oil production from the two fields can only be optimized after the new AMDAL is approved. Thus, his party could not be sure when the Kedung Keris Field reached peak production. However, the production of the Cepu Block did not necessarily be boosted to reach 235 thousand BPD.

"When we operate [Cepu Block], we will pay attention to various things, including facilities, reservoirs, etc. For running at 235 thousand BPD, it is not certain. We must pay attention to everything," Dwi said.

McKenzie added, the EIA approval process was still in progress. Not long ago, it has held a technical study with the Ministry of Environment and Forestry (KLHK). Furthermore, his party will carry out community studies.

"This process has many stages, but it is hoped that [EIA] will come out within a month or two," he said.

Strengthen the Region

According to Dwi, the operation of the Kedung Keris Field will generate a gross income of around Rp 3.3 trillion per year. But not only that, if it continues, this gross income will also contribute to the economic conditions of the country and the region. In addition, increasing oil and gas production in the East Java region is also important to meet the energy needs in this region. Because the industry in East Java is growing very high.

After East Java has become the largest oil-producing region in Indonesia, it will also boost gas production in this region. At present oil production in this region reaches more than 25% of national production.

"We are making arrangements to be able to meet the needs of gas in East Java, there are projects in the Madura Strait. So we emphasize to meet the needs of East Java. Hopefully, it will not disturb investors in East Java," Dwi said.

The Head of the East Java Office of Energy and Mineral Resources (ESDM) Setiaji appreciated the commencement of oil production from the Kedung Keris Field. Moreover, this operation boosts oil production in its region to 305 thousand BPD. The realization of this production reaches around more than 30% of national production.

He hopes that if there are still new fields that can be offered, the company can work on the oil and gas field. This is to encourage oil and gas production in East Java. On the contrary, it promises convenience for oil and gas companies.

"Maybe there are new licenses and Amdal, if there are difficulties, we ask that we can come and we will facilitate and speed up," said Setiaji.

Referring to SKK Migas data, this year, Cepu Block oil lifting is targeted at 216 thousand BPD. Until the end of September, the realization of Cepu Block oil lifting has exceeded the target, which is 216,011 thousand BPD. This Cepu Block oil production increased compared to the end of last year of 209 thousand BPD.

Meanwhile, the amount of reserves that can be produced (recoverable reserve) in the Cepu Block is currently recorded at 823 million barrels. This reserve is higher than initially estimated in the development plan (POD) of 450 million barrels.

IN INDONESIA

Proyek Kedung Keris Jadikan Blok Cepu Penghasil Minyak Terbesar

ExxonMobil Cepu Limited (EMCL) memulai pengoperasian Lapangan Kedung Keris, Blok Cepu dengan puncak produksi 10 ribu barel per hari (bph). Lapangan ini akan memperkuat posisi Blok Cepu sebagai penghasil minyak terbesar di Indonesia, menggeser posisi Blok Rokan yang digarap PT Chevron Pacific Indonesia (CPI).

Cepu, kita punya produksi minyak meningkat. Semoga tahun depan bisa tambahan 10 ribu bph maka bedanya produksi semakin jauh meningkat dibandingkan Rokan," kata Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Dwi Soetjipto ketika meresmikan beroperasinya Lapangan Kedung Keris.

Blok Rokan saat ini memproduksi minyak sekitar 190 ribu bph. Sementara produksi Blok Cepu sekitar 219 ribu bph. Tahun depan, produksi Blok Rokan diproyeksikan turun lantaran menjelang kontrak berakhir. Sebaliknya, produksi minyak dari Blok Cepu semakin tinggi dengan telah beroperasinya Lapangan Kedung Keris. 

Keberadaan proyek Kedung Keris bahkan bisa meningkatkan  produksi Blok Cepu sampai 235 ribu bph. Presiden ExxonMobil Cepu Limited Louise McKenzie menambahkan, Lapangan Kedung Keris telah menghasilkan minyak sejak 22 November lalu, lebih cepat dari jadwal. Saat ini produksi minyak dari lapangan ini masih sekitar 5 ribu bph dan akan naik bertahap hingga mencapai puncak produksi 10 ribu bph.

"Produksi ini akan membantu mempertahankan rata-rata produksi Blok Cepu yang saat ini menghasilkan minyak lebih dari 25% dari produksi minyak nasional yang juga menjadikan ExxonMobil produsen minyak nomor satu di Indonesia," Kata Louise McKenzie.

Kontrak rekayasa, pengadaan dan konstruksi (engineering, procurement, and construction/EPC) Proyek Kedung Keris dilaksanakan PT Meindo Elang Indah, perusahaan lokal Indonesia. Proyek dengan nilai investasi US$ 76 juta terdiri dari tapak sumur untuk operasi satu sumur dan pipa bawah tanah berdiameter 8 inch sepanjang 15 kilometer yang tersambung dengan Fasilitas Pengolahan Pusat Banyu Urip. 

Lapangan Kedung Keris ditemukan pada 2011, sekitar 15 kilometer sebelah timur Lapangan Banyu Urip. Berdasarkan evaluasi saat ini, diperkirakan cadangan minyak dari Lapangan Kedung Keris mencapai 20 juta barel minyak. Kedua lapangan tersebut terletak di Blok Cepu, di mana ExxonMobil Cepu Limited bertindak sebagai operator.

Dwi melanjutkan, dari hasil uji coba produksi maksimal, fasilitas produksi Blok Cepu bisa menghasilkan minyak hingga 235 ribu bph dalam kondisi aman. Namun, peningkatan produksi Blok Cepu ini masih menunggu persetujuan revisi Analisis Dampak Lingkungan (Amdal). Pasalnya, Amdal yang ada saat ini hanya mencantumkan produksi maksimal sebesar 220 ribu bph. Karenanya, pihaknya berharap pemerintah daerah setempat dapat membantu mempermudah pemberian rekomendasi Amdal terkait perubahan angka produksi tersebut.

"Disimpulkan produksi 235 ribu bph dalam posisi aman. Sekarang bagaimana kita mendapat izin untuk beroperasi di level itu," ujar Dwi.

Pihaknya sendiri akan terus membantu ExxonMobil untuk terus menambah produksi dan meningkatkan eksplorasi. Selama belum memperoleh persetujuan revisi Amdal, maka produksi minyak dari Lapangan Banyu Urip terpaksa diturunkan menyusul beroperasinya Lapangan Kedung Keris. Hal ini agar kegiatan operasi di Blok Cepu tidak melanggar Amdal yang ada. 

Produksi minyak dari kedua lapangan baru dapat dioptimalkan setelah Amdal yang baru disetujui. Sehingga, pihaknya tidak dapat memastikan kapan Lapangan Kedung Keris mencapai puncak produksi. Meski demikian, produksi Blok Cepu disebutnya tidak lantas digenjot mencapai 235 ribu bph.

"Pada saat kami mengoperasikan [Blok Cepu] akan memperhatikan berbagai hal baik fasilitas, reservoir, dan lain sebagainya. Untuk running di 235 ribu bph, belum tentu. Kami harus perhatikan semuanya," ujar Dwi.

McKenzie menambahkan, proses pengajuan persetujuan Amdal masih berlangsung. Belum lama ini, pihaknya telah menggelar kajian teknis dengan Kementerian Lingkungan Hidup dan Kehutanan (KLHK). Selanjutnya pihaknya akan melaksanakan kajian masyarakat.

"Proses ini ada banyak tahapan, tetapi harapannya [Amdal] akan keluar dalam satu atau dua bulan ini," tutur dia.

Perkuat Daerah

Menurut Dwi, pengoperasian Lapangan Kedung Keris akan menghasilkan penghasilan kotor sekitar Rp 3,3 triliun per tahun. Namun tidak hanya itu, jika terus berjalan, pendapatan kotor ini juga akan memberi kontribusi pada kondisi ekonomi negara dan daerah. Selain itu, peningkatan produksi migas di wilayah Jawa Timur juga penting untuk memenuhi kebutuhan energi di wilayah ini. Pasalnya, industri di Jawa Timur tumbuh sangat tinggi. 

Setelah Jawa Timur menjadi daerah produsen minyak terbesar di Indonesia, pihaknya juga akan turut menggenjot produksi gas di wilayah ini. Saat ini produksi minyak di wilayah ini mencapai lebih dari 25% produksi nasional.

"Kami sedang melakukan pengaturan agar dapat memenuhi kebutuhan gas di Jatim, ada proyek di Selat Madura. Maka kami tekankan untuk memenuhi kebutuhan Jawa Timur. Semoga tidak mengganggu investor di Jawa Timur," kata Dwi.

Kepala Dinas Energi dan Sumber Daya Mineral (ESDM) Jawa Timur Setiaji mengapresiasi dimulainya produksi minyak dari Lapangan Kedung Keris. Apalagi, pengoperasian ini mendongkrak produksi minyak di wilayahnya menjadi 305 ribu bph. Realisasi produksi tersebut mencapai sekitar lebih dari 30% dari produksi nasional. 

Pihaknya berharap, jika memang masih ada lapangan baru yang bisa ditawarkan, perusahaan dapat menggarap lapangan migas tersebut. Hal ini untuk mendorong produksi migas di Jatim. Sebaliknya, pihaknya menjanjikan kemudahan bagi perusahaan migas.

"Barang kali ada perizinan dan Amdal baru, kalau ada kesulitan, kami mohon untuk dapat datang akan kami fasilitasi dan percepat," kata Setiaji.

Mengacu data SKK Migas, pada tahun ini, lifting minyak Blok Cepu ditargetkan sebesar 216 ribu bph. Sampai akhir September lalu, realisasi lifting minyak Blok Cepu tercatat telah melampaui target, yakni sebesar 216.011 ribu bph. Produksi minyak Blok Cepu ini naik dibandingkan realisasi sampai akhir tahun lalu sebesar 209 ribu bph.

Sementara itu, besaran cadangan yang dapat diproduksikan (recoverable reserve) di Blok Cepu saat ini tercatat mencapai 823 juta barel. Cadangan ini lebih tinggi dari yang awalnya diperkirakan dalam rencana pengembangan (plan of development/POD) sebesar 450 juta barel.

Investor Daily, Page- 9, Wednesday, Dec 18, 2019

Pertamina Prepares US $ 150 Million for Acquisition

PT Pertamina continues its planned merger and acquisition (M&A) of the oil and gas block. The state-owned oil company is allocating around the US $ 150 million as capital expenditure or CAPEX in 2020 for the acquisition of the M&A action.

Fajriyah Usman

PT Pertamina Vice President Corporate Communication, Fajriyah Usman, said mergers and acquisitions are part of Pertamina's inorganic upstream business development strategy.

"In accordance with Pertamina's growth strategy, mergers and acquisitions are part of that strategy. Therefore, Pertamina Prepares US $ 150 Million for Acquisitions has budgeted funds for mergers and acquisitions of that number (US $ 150 million)," said Fajriyah.

This strategy is a follow-up to the government's instructions so that Pertamina continues to increase oil production from abroad. This is to reduce oil imports which have been weighing on the current account. This year, Pertamina is targeting to bring in 8 million barrels of oil from oil and gas blocks abroad. That number increased by 1 million barrels from the previous year. So far, Pertamina has 12 oil and gas blocks abroad.

Nicke Widyawati

Previously, President Director of PT Pertamina, Nicke Widyawati, said that his party had tried the acquisition of oil and gas blocks in Abu Dhabi, United Arab Emirates. The reason is that the oil and gas block has entered the production stage.

"Our overseas acquisitions focus on blocks that have already been produced. We have explored Abu Dhabi, we are trying to enter," said Fajriyah.

According to Nicke, the selection of oil and gas blocks that are already in production has many advantages. Besides producing oil faster and reducing imports, productive oil and gas blocks reduce company risk. It's known, Pertamina is still haunted by the case of former Pertamina's Managing Director, Karen Agustiawan, related to M&A in the Basanta Manta Gummy (BMG) Block. 

     Therefore, Nicke said that this acquisition will also hold law enforcement agencies, starting from the planning process to the completion of the acquisition.

"To reduce that risk, in addition to the acquisition of oil and gas blocks that have been produced, we also cooperate with law enforcement officers, so that no one is left behind," Nicke said.

Deputy BUMN Minister Budi Gunadi Sadikin said Pertamina's financial position was in a healthy condition to carry out corporate actions or investment agenda, including to carry out this acquisition. This was indicated by the amount of earnings before interest, taxes, depreciation and amortization (EBITDA) or Pertamina's income before interest, taxes, depreciation and amortization in 2018 which reached around US $ 9 billion.

"Pertamina's financial condition is very healthy, there is no financial problem for Pertamina to invest," said Budi.

IN INDONESIA

Pertamina Menyiapkan US$ 150 Iuta untuk Akuisisi

PT Pertamina melanjutkan rencana merger dan akuisisi (M&A) blok minyak dan gas bumi. Perusahaan miyak milik pemerintah ini mengalokasikan dana sekitar US$ 150 juta sebagai belanja modal atau capital expenditure (capex) tahun 2020 untuk akuisisi aksi M&A tersebut. 

Vice President Corporate Communication PT Pertamina, Fajriyah Usman, mengatakan merger dan akuisisi merupakan bagian dari strategi pengembangan bisnis hulu Pertamina secara anorganik.

"Sesuai dengan strategi growth dari Pertamina, merger dan akuisisi merupakan bagian dari strategi tersebut. Oleh karena itu, Pertamina Menyiapkan US$ 150 Juta untuk Akuisisi telah menganggarkan dana untuk merger dan akuisisi sebesar angka tersebut (US$ 150 juta)," kata Fajriyah.

Strategi ini merupakan tindak lanjut instruksi pemerinbah agar Pertamina terus memperbesar produksi minyak dari luar negeri. Hal tersebut untuk mengurangi impor minyak yang selama ini membebani nerca transaksi berjalan. Tahun ini Pertamina menargetkan bisa memboyong sebesar 8 juta barel minyak dari blok migas di luar negeri. Angka tersebut meningkat 1 juta barel dari setahun sebelumnya. Sejauh ini, Pertamina memiliki 12 blok migas di luar negeri. 

Sebelumnya, Direktur Utama PT Pertamina, Nicke Widyawati, menyatakan pihaknya sudah menjajal akuisisi blok migas di Abu Dhabi, Uni Emirat Arab. Pasalnya, blok migas tersebut sudah memasuki tahap produksi. 

"Akuisisi luar negeri kami fokus ke blok yang sudah produksi. Kami sudah jajaki Abu Dhabi, kami coba masuk," kata Fajriyah.

Menurut Nicke pemilihan blok migas yang sudah berproduksi memberikan banyak keuntungan. Selain lebih cepat menghasilkan minyak dan mengurangi impor, blok migas yang produktif mengurangi risiko perusahaan. Maklumlah, Pertamina masih dihantui oleh kasus mantan Direktur Utama Pertamina, Karen Agustiawan, terkait dengan M&A di Blok Basker Manta Gummy (BMG) Australia. 

     Oleh karena itu, Nicke mengatakan bahwa akuisisi kali ini juga akan menggandeng penegak hukum, mulai dari proses perencanaan hingga tahap penyelesaian akuisisi.

"Untuk mengurangi risiko itu, selain akuisisi blok migas yang sudah produksi, kami juga bekerjasama dengan aparat penegak hukum, jangan sampai ada yang terlewat," kata Nicke.

Wakil Menteri BUMN Budi Gunadi Sadikin menyatakan posisi keuangan Pertamina berada dalam kondisi sehat untuk melakukan aksi korporasi atau agenda investasi, termasuk untuk melakukan akuisisi ini. 

    Hal itu ditandai dengan jumlah earning before interest, taxes, depreciation and amortization (EBITDA) atau pendapatan sebelum bunga, pajak, depresiasi dan amortisasi Pertamina di tahun 2018 yang mencapai sekitar US$ 9 miliar. 

"Kondisi keuangan Pertamina sehat sekali, tidak ada masalah keuangan bagi Pertamina untuk berinvestasi," kata Budi.

Kontan, Page-13, Monday, Dec 16, 2019

PHE Will Cut YYA-1 Platforms

PT Pertamina Hulu Energi ONWJ immediately cut the YYA-1 platform, the Yi Block Offshore North West Java Project in Karawang's north sea affected by an oil spill. PHE Director of Operation and Production Taufik Aditiyawarman said that currently, the cementing process is underway on the YYA-2 and 3. platforms. 

   For the YYA-1 well, the cementing process was completed on December 3, 2019, while in the next week the cementing of the YYA-2 and the wells will be completed. 3

"In the next week, the team will prepare the platform to be taken ashore," he said.

Taufik who is also the Commander Incident for handling oil spill events at YYA-1 Well explained that the process of cutting platforms and moving them ashore can be carried out after the situation has been declared safe by the KPLP (Indonesian Sea and Coast Guard Unit) and KSOP (Kesyahbandaran and Port Authority).

As for moving the YK PHE Pavilion, it has not yet explained the technology used, considering the total weight reaches 800 tons. Taufik admitted, currently, the largest crane capacity is only 600 tons. Although it must be dismantled, some parts of this platform may still be used.

The dismantling of the platform is needed considering that in the seabed where the bridge is located a sewer has formed due to the presence of gas bubbles that appear at the beginning of the oil burst emerging from the YYA-1 well. 

   This condition does not allow the platform to remain in the same location. Taufik said that his company had spent around the US $ 156 million by the end of 2019 as part of the prevention of oil spills in the YYA-1 well.

"Estimates to completion, until the recovery of US $ 225 million," he added.

The allocation of funds incurred can come from company expenses, insurance, or other cost reductions. Meanwhile, Taufik said PHE prepared relief wells instead of YYA-1 wells which were targeted to produce in 2021. Relief wells had previously succeeded in becoming a means of closing leaks at YYA-1 wells. Its existence and the theoretical side can be utilized to produce the remaining oil and gas reserves around the YYA well.

Relief Wells

To become a production well, PHE is conducting a study that is being done is to calculate the remaining oil and gas reserves and how much it really costs. But he ensured that if relief wells were used as production wells, the cost would not be too great. The YYA-1 well, which is certain to not be produced again once it is permanently closed. Previously, PHE will conduct project development in the YYA-2 and YYA-3 Wells.

Bisnis Indonesia , Page-24, Monday, Dec 16, 2019

Pertamina seeks UAE oil and gas company block

PT Pertamina (Persero) will explore the acquisition of oil and gas blocks owned by oil and gas companies from the United Arab Emirates, namely Abu Dhabi National Company (ADNOC) and Mubadala Petroleum. This corporate action is part of the plan of cooperation with the UAE which will be signed in the near future.

Nicke Widyawati

Pertamina President Director Nicke Widyawati said the acquisition of oil and gas blocks abroad is one of the company's strategies to boost oil and gas production. The oil and gas block targeted by the company is the oil and gas block that has produced oil and gas. This is to reduce the risk that must be borne by this state-owned oil and gas company.

"To reduce risk, we focus on acquisitions in oil and gas blocks that are already produced abroad, which we are exploring with Abu Dhabi (UAE). So that it will increase Pertamina's upstream oil and gas portfolio, "said Nicke Widyawati.

ADNOC

According to Nicke Widyawati, cooperation with UAE oil and gas companies covers the upstream and downstream oil and gas sectors. In the downstream sector, the company will work with oil and gas companies from the UAE, including Abu Dhabi National Company (ADNOC) and Mubadala Petroleum, to work on upgrading and upgrading projects for Balikpapan and Dumai refineries.

Mubadala Petroleum

"We are exploring [the acquisition of oil and gas blocks]. So with Abu Dhabi, we are working on the side of the refinery, and there is this partnership [upstream oil and gas], "Nicke explained.

This means that the oil and gas blocks that the company will acquire are owned by ADNOC or Mubadala. The official website of Mubadala Petroleum states that it has a number of major projects. 

     Some of them include the Dolphin Gas Project in the Middle East which is an energy source for Abu Dhabi, an enhanced oil recovery (EOR) project in Oman, the Zohr Raksana Gas Project in Egypt, and the GazpromneftVostok management cooperation for several oil and gas blocks in Russia .

While ADNOC, according to its official website, produces oil of 3 million barrels per day (BPD) of gas 9.8 billion cubic feet per day. ADNOC manages 11 oil and gas fields on land, including Bab, Asab, BU Hasa, and Al Dabbiya Fields. ADNOC is collecting appraisal well data from three undeveloped oil and gas blocks and reservoirs, to assess commercial values ​​and identify locations that are good to work on.

For offshore oil and gas blocks, ADNOC manages a number of assets, namely Umm Shaif Field, Lower Zakum, Upper Zakum, Satah, and Umm Al Dalkh. ADNOC is now focusing on developing the SARB, Nasr, Umm Lulu Fields and completing the UZ-750 island project in Upper Zakum. Other projects are optimization in Umm Shaif, Lower Zakum, Satah, and Umm Al Dalkh Fields.

In addition to the acquisition, Nicke continued, the increase in the company's oil and gas production was also carried out by increasing the performance of the oil and gas blocks that had been owned. 

     One of them is by carrying out EOR activities. Then, another way is to hold seismic activities to explore the potential of oil and gas in new areas. The obligation of exploration has been applied by the government since two years ago through the Definite Work Commitment (KKP).

IN INDONESIA

Pertamina Incar Blok Migas Perusahaan UEA

PT Pertamina (Persero) akan menjajaki akuisisi blok migas milik perusahaan migas asal Uni Emirat Arab, yakni Abu Dhabi National Company (ADNOC) dan Mubadala Petroleum. Aksi korporasi ini merupakan bagian dari rencana kerja sama dengan UEA yang akan ditandatangani dalam waktu dekat ini. 

Direktur Utama Pertamina Nicke Widyawati mengatakan, akuisisi blok migas di luar negeri merupakan salah satu strategi perseroan untuk mendongkrak produksi migasnya. Blok migas yang diincar oleh perseroan yakni blok migas yang telah menghasilkan migas. Hal ini guna mengurangi risiko yang harus ditanggung perusahaan minyak dan gas milik pemerintah ini.

“Untuk mengurangi risiko, kami fokus akuisisi di blok migas yang sudah produksi di luar negeri, yang kami jajaki dengan Abu Dhabi (UEA). Sehingga itu akan menambah potfolio hulu migas Pertamina,” kata Nicke Widyawati.

Menurut Nicke Widyawati, kerja sama dengan perusahaan migas UEA meliputi sektor hulu dan hilir minyak dan gas. Di sektor hilir, perseroan akan bekerja sama dengan perusahaan migas asal UEA, diantaranya Abu Dhabi National Company (ADNOC) dan Mubadala Petroleum, untuk mengerjakan proyek perbaikan dan peningkatan kapasitas (upgrading) Kilang Balikpapan dan Dumai.

“Kami jajaki [akuisisi blok migas]. Jadi dengan Abu Dhabi, bekerja sama di sisi kilang, dan ada kerja sama ini [hulu migas],” jelas Nicke. 

Artinya, blok minyak dan gas yang akan diakuisisi perseroan yakni milik ADNOC atau Mubadala.

Dalam laman resmi Mubadala Petroleum menyatakan memiliki sejumlah proyek utama. Beberapa diantaranya seperti Proyek Gas Dolphin di Timur Tengah yang merupakan sumber energi bagi Abu Dhabi, proyek pengurasan minyak tahap lanjut (enhanced oil recovery/EOR) di Oman, Proyek Gas Raksana Zohr di Mesir, dan kerja sama pengelolaan GazpromneftVostok untuk beberapa blok migas di Rusia. 

Sementara ADNOC, sesuai laman resminya, memproduksi minyak sebesar 3 juta barel per hari (bph) gas 9,8 miliar kaki kubik per hari. ADNOC mengelola 11 lapangan migas di darat, diantaranya Lapangan Bab, Asab, BU Hasa, dan Al Dabb’iya. ADNOC sedang  mengumpulkan data sumur appraisal dari tiga blok migas dan reservoir yang belum dikembangkan, untuk mengkaji nilai komersil dan mengidentifikasi lokasi yang

bagus untuk digarap. 

Untuk blok migas lepas pantai, ADNOC mengelola sejumlah aset, yaitu Lapangan Umm Shaif, Lower Zakum, Upper Zakum, Satah, dan Umm Al Dalkh. ADNOC kini sedang fokus mengembangkan Lapangan SARB, Nasr, Umm Lulu dan melakukan completion proyek pulau buatan UZ-750 di Upper Zakum. Proyek lainnya adalah optimasi di Lapangan Umm Shaif, Lower Zakum, Satah, dan Umm Al Dalkh.

Selain akuisisi, Nicke melanjutkan, peningkatan produksi migas perusahaan juga dilakukan dengan meningkatkan kinerja dari blok migas yang telah dimiliki. Salah satunya yakni dengan melaksanakan kegiatan EOR. Kemudian, cara lainnya yakni dengan menggelar kegiatan seismik guna megeksplorasi potensi migas di wilayah baru. Kewajiban eksplorasi telah diterapkan pemerintah sejak dua tahun lalu melalui Komitmen Kerja Pasti (KKP).

Investor Daily , Page-9, Monday, Dec 16, 2019

Pertamina: Cilacap Refinery Finished in the First Quarter of 2020

The management of PT Pertamina (Persero) still expects to work on the Cilacap Refinery Development Master Plan (RDMP) project with the Saudi

Saudi Aramco

Aramco. However, the discussion process is still focused on the selection of cooperation schemes and the valuation of existing assets. 

     Pertamina's President Director Nicke Widyawati said that his party offered the option of cooperation such as the Balikpapan Refinery. Therefore, there was no need for a spin-off so that Pertamina and Saudi Aramco would build new facilities without including existing access.

Nicke Widyawati

"Cooperation with Aramco is still ongoing, now there are other options for the cooperation model. So the second cooperation model is like in Balikpapan," Nicke said.

If this scheme is implemented, Pertamina and Aramco can establish a subsidiary that will operate the refinery. Next, determine the toll fee scheme. Certainly, this cooperation scheme can be obtained in the first quarter of 2020.

"It will build a new refinery. The existing refinery will be operated, but later the scheme will be with a toll fee. Same as Balikpapan. So this will be continued and we are targeting that in the first quarter of 2020 it must be finished," explained Nicke.

Luhut Binsar Panjaitan

The option of collaborating with a scheme like this was rolled out because Pertamina and Aramco did not also find an agreement regarding asset valuation because there was still a difference in value between the two. Previously, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan revealed the valuation calculation still left a difference in the value of around US $ 1.5 billion.

IN INDONESIA

Pertamina: Skema Kilang Cilacap Kelar Kuartal I 2020

Manajemen PT Pertamina (Persero) masih mengharapkan bisa menggarap proyek Refinery Development Master Plan (RDMP) Kilang Cilacap bersama Saudi

Aramco. Namun, proses pembahasan masih berkutat pada pemilihan skema kerjasama dan valuasi aset existing. 

   Direktur Utama Pertamina, Nicke Widyawati mengatakan, pihaknya menawarkan opsi kerjasama seperti di Kilang Balikpapan, Dengan begitu, tidak perlu spin-off sehingga Pertamina dan Saudi Aramco akan membangun fasilitas baru tanpa menyertakan akses existing. 

"Kerjasama dengan Aramco masih berlangsung, sekarang ada opsi lain dari model kerjasama. Jadi model kerjasama kedua adalah seperti di Balikpapan," kata Nicke.

Jika skema ini diterapkan, maka Pertamina dan Aramco bisa mendirikan anak usaha yang akan mengoperasikan kilang tersebut. Selanjutnya, penetapan skema toll fee. Kepastian skema kerjasama ini sudah bisa diperoleh pada kuartal I 2020. 

"Akan membangun kilang baru. Kilang existing akan dioperasikan, tapi nanti skemanya dengan toll fee. Sama seperti Balikpapan. Jadi ini yang akan dilanjutkan dan kita targetkan di kuartal satu tahun 2020 harus sudah selesai," terang Nicke.

Opsi kerjasama dengan skema seperti ini bergulir lantaran Pertamina dan Aramco tidak juga menemukan kata sepakat terkait valuasi aset lantaran masih ada selisih nilai di antara keduanya. Sebelumnya, Menteri Koordinator Kemaritiman dan Investasi Luhut Binsar Panjaitan mengungkapkan perhitungan valuasi masih menyisakan perbedaan nilai sekitar US$ 1,5 miliar.

Kontan, Page-14, Saturday, Dec 14, 2019

Muriah Block Negotiations Still Difficult

Negotiations between Petronas Carigali Muriah Ltd (PCML) and Saka Energi continue to be difficult after the cessation of production and distribution of gas from the Kepodang Field, Muriah Block, on September 23, 2019.

Petronas Carigali Muriah Ltd (PCML)

Managing Director of PT Perusahaan Gas Negara Tbk (PGAS), Gigih Prakoso, said Saka Energi as a subsidiary of PGAS intends to continue the process of gas distribution from the field. Because Muriah gas can still be produced and distributed for industrial gas needs, "he said.

Gigih revealed, the discussion process is still ongoing between the two parties. In negotiations, matters discussed include the release of operatorship and participating interest (PI). For information, WK Muriah is managed by PCML with participation rights (Pl) of 80% and Saka Energi Muriah Ltd (SEML), a subsidiary of PT Saka Energi Indonesia, which narrows 20% PI.

Gigih said that his office projects that there are still gas reserves that can be produced at 25 million cubic feet per day (mmscfd). But he was still reluctant to reveal about the negotiation process. SKK Migas Deputy of Operations, Julius Wiratno, revealed that the negotiations between Saka Energi and Petronas Carigali took place on a business-to-business basis (b to b).

"The discussion is difficult, gas has not flowed to buyers so far," he said.

BPH Migas

Julius said SKK Migas could not intervene during the ongoing negotiation process. Previously, BPH Migas highlighted the cessation of gas distribution from Kepodang Field, which was considered damaging to the investment climate. The Head of BPH Migas Fanshurullah Asa said that the Kalimantan Java I pipeline managed by PT Kalimantan Jawa Gas must be utilized.

"It must be prioritized to continue to be used, otherwise this will damage the investment climate. The problem of gas supply, please go to SKK Migas or Petronas, why the gas can run out," he explained.

IN INDONESIA

Negosiasi Blok Muriah Masih Sulit

Negosiasi antara Petronas Carigali Muriah Ltd (PCML) dan Saka Energi masih berlangsung sulit pasca penghentian produksi dan penyaluran gas dari Lapangan Kepodang, Blok Muriah, pada 23 September 2019. 

Direktur Utama PT Perusahaan Gas Negara Tbk (PGAS), Gigih Prakoso, mengatakan Saka Energi sebagai anak usaha PGAS berniat melanjutkan proses penyaluran gas dari lapangan tersebut. Karena gas Muriah masih bisa diproduksikan dan disalurkan untuk kebutuhan gas industri," Katanya.

Gigih mengungkapkan, proses diskusi hingga kini masih berlangsung antara kedua pihak. Dalam negosiasi, hal yang dibahas antara lain seputar pelepasan operatorship  dan hak partisipasi atau participating interest (PI). Sebagai Informasi, WK Muriah dikelola oleh PCML dengan hak partisipasi (Pl) sebesar 80% dan Saka Energi Muriah Ltd (SEML), anak perusahaan PT Saka Energi Indonesia, yang mengempit 20% PI.

Gigih mengemukakan, pihaknya memproyeksikan masih terdapat cadangan gas yang bisa diproduksi sebesar 25 juta kaki kubik per hari (mmscfd). Namun dia masih enggan mengungkapkan soal proses negosiasi tersebut. Deputi Operasi SKK Migas, Julius Wiratno, mengungkapkan negosiasi antara Saka Energi dan Petronas Carigali berlangsung secara business to business (b to b). 

"Diskusinya sulit, gas belum mengalir ke pembeli sejauh ini," ujarnya. 

Julius bilang SKK Migas tidak bisa melakukan intervensi selama proses negosiasi yang sedang berlangsung. Sebelumnya, BPH Migas menyoroti penghentian penyaluran gas dari Lapangan Kepodang yang dinilai merusak iklim investasi. Kepala BPH Migas Fanshurullah Asa menyebutkan pipa Kalimantan Jawa I yang dikelola PT Kalimantan Jawa Gas harus tetap dimanfaatkan.

"Mesti diprioritaskan untuk tetap digunakan, kalau tidak ini merusak iklim investasi. Masalah pasokan gas silahkan ke SKK Migas atau Petronas kenapa gas bisa habis," jelasnya.

Kontan, Page-14, Saturday, Dec 14, 2019

PHE Targets Increasing Oil and Gas Lifting

PT Pertamina Hulu Energi (PHE), a subsidiary of PT Pertamina (Persero), targets production-ready to sell or lift oil and gas 2020 by 181,510 barrels of oil equivalent per day (boepd) or up 3.32% compared to the target in the Work Plan and Corporate Budget (RKAP) 2019 of 175,674 boepd.

Meanwhile, PHE 2020 oil and gas lifting targets include oil lifting of 83,100 barrels of oil per day (bopd) and gas sales of 570.11 million cubic feet per day (MMscfd). Meanwhile, in the 2019 RKAP, 76,971 bopd of oil lifting and 572 MMscfd of gas. Until the end of October 2019, PHE recorded 178,208 boepd of oil and gas lifting. Oil and gas lifting consists of lifting oil 77,179 bopd and gas sales of 585 MMscfd.

"Projections until the end of the year, oil and gas lifting reaches 178,052 boepd or 101% of the target in the 2019 RKAP. Lifting oil is 100% of the target and gas is 102% of the target," said PHE Managing Director Meidawati.

In the 2020 oil and gas lifting target, Meidawati said it still relies on the Offshore North West Java (ONWJ) PHE as the largest contributor to the lifting of oil PHE, which until October 2019 was recorded at 25,788 boepd. Besides ONWJ, there is also PHE Offshore Southeast Sumatra (OSES) which also contributed greatly to reach 25,331 bopd.

The ready-to-sell production from ONWJ and OSES is part of the PHE which has a 90% participation or participating interest (PI). He added, other contributors came from PHE CPP (BOB) 4,763 bopd, Sulawesi PHE Tomori of 3,729 bopd, PHE Jambi Merang of 3,599 bopd, and PHE West Madura Offshore (PHE WMO) with the acquisition of 3,116 bopd.

Blogger Agus Purnomo in PT. PHE West Madura Offshore (WMO)

In addition, the largest contributor to natural gas lifting was PHE Tomori Sulawesi, amounting to 146.8 MMscfd. Regarding the PI scale, PHE is recorded to control 50% of PHE in the Tomori Block. In addition to the Sulawesi Tomori PHE, WMO PHE recorded 94.5 MMscfd of gas lifting, PHE ONWJ 73 MMscfd, and Jambi Merang PHE 68.3 MMscfd. To succeed in the performance of 2019, PHE has also drilled two exploration wells, 35 development wells, and 39 workover wells per October. For 2D seismic, it reaches 4,291 km, and 3D seismic reaches 95 km2.

The total investment cost that has been spent reaches the US $ 216 million until October 2019. Until the end of 2019, the investment costs used are estimated at US $ 328 million.

"Until the end of 2019, we will try to do total drilling. 5 exploration wells and 43 development wells ", he added.

Although oil and gas lifting is estimated to be higher than the target, net profit is projected to decline. In the 2019 RKAP, PHE's net profit is targeted to reach the US $ 592 million. However, the prognosis until the end of the year is the only US $ 421 million with the realization up to October worth the US $ 370 million. Meidawati explained, oil prices were the main factor in not achieving the net profit target this year. According to him, the target is based on oil price assumptions in the range of US $ 70 per barrel. However, the average oil price this year is in the range of US $ 63 per barrel.

"The target might be achieved if suddenly the oil price becomes the US $ 100 per barrel until the end of the year. When viewed from the maximum production, but this price is indeed very influential and something we cannot control, "he said.

Meanwhile, for next year it targets a net profit of US $ 487.03 million.

TECHNICAL CONSTRAINTS

Meanwhile, Pertamina Upstream Director Dharmawan Samsu said that next year's production target was very heavy and challenging. This year, technical obstacles haunt the achievement of Pertamina's oil and gas production.

"We have to make sure the drilling is no longer late because yesterday we were late for the procurement of offshore rigs," he said.

Dharmawan explained the 2020 oil and gas production target of 923,000 boepd, would be obtained from the contribution of oil and gas production from Pertamina's upstream operations in the country of 765,000 boepd. Oil production is estimated to reach 323,000 BPD of oil production and 2,559 MMscfd of gas production. Meanwhile, contributions from Pertamina's upstream operations abroad (PIEP) of oil and gas production amounted to 158 Mboepd, consisting of oil production of 107 Mbopd and gas 298 MMscfd.

"The overall prognosis of Pertamina's oil and gas production in 2019 reaches 906,000 boepd consisting of 414,000 bopd of oil production and 2,850 MMscfd of gas," he added.

IN INDONESIA

PHE Menargetkan Kenaikan Lifting Migas

PT Pertamina Hulu Energi (PHE), anak usaha PT Pertamina (Persero), menargetkan produksi siap jual atau lifting minyak dan gas bumi 2020 sebanyak 181.510 barel setara minyak per hari (boepd) atau naik 3,32% dibandingkan dengan target dalam Rencana Kerja dan Anggaran Perusahaan (RKAP) 2019 sebanyak 175.674 boepd.

Adapun, target lifting migas PHE 2020 meliputi lifting minyak sebanyak 83.100 barel minyak per hari (bopd) dan penjualan gas sebanyak 570,11 juta kaki kubik per hari (MMscfd). Sementara itu, pada RKAP 2019, lifting minyak sebanyak 76.971 bopd dan gas 572 MMscfd. Hingga akhir Oktober 2019, PHE mencatat lifting migas sebanyak 178.208 boepd. Lifting migas terdiri atas lifting minyak 77.179 bopd dan penjualan gas sebanyak 585 MMscfd. 

“Proyeksi hingga akhir tahun, lifting migas mencapai 178.052 boepd atau 101% dari target pada RKAP 2019. Lifting minyak 100% dari target dan gas 102% dari target,” ujar Direktur Utama PHE Meidawati.

Pada target lifting migas tahun 2020, Meidawati menyatakan pihaknya masih mengandalkan PHE Offshore North West Java (ONWJ) sebagai kontributor terbesar lifting minyak PHE, yang hingga Oktober 2019 tercatat sebanyak 25.788 boepd. Selain ONWJ, ada pula PHE Offshore Southeast Sumatra (OSES) yang juga berkontribusi besar yakni mencapai 25.331 bopd.

Produksi siap jual dari ONWJ dan OSES tersebut merupakan bagian PHE yang memiliki hak partisipasi atau particpating interest (PI) sebesar 90%. Dia menambahkan, kontributor lainnya datang dari PHE CPP (BOB) 4.763 bopd, PHE Tomoli Sulawesi sebesar 3 .729 bopd, PHE Jambi Merang sebesar 3.599 bopd, dan PHE West Madura Offshore (PHE WMO) dengan perolehan lifting 3.116 bopd.

Selain itu, lifting gas bumi kontributor terbesar adalah PHE Tomori Sulawesi sebanyak 146,8 MMscfd. Terkait dengan besaran PI, PHE tercatat menguasai 50% PHE di Blok Tomori. Selain PHE Tomori Sulawesi, PHE WMO mencatat lifting gas sebesar 94,5 MMscfd, PHE ONWJ 73 MMscfd, dan PHE Jambi Merang 68,3 MMscfd. 

    Untuk menyukseskan kinerja 2019, PHE juga telah melakukan pengeboran dua sumur eksplorasi, 35 sumur pengembangan, dan 39 sumur work over per Oktober. Untuk seismik 2D mencapai 4.291 km dan seismik 3D mencapai 95 km2.

Total biaya investasi yang telah dikeluarkan mencapai US$216 juta hingga Oktober 2019. Hingga akhir 2019, biaya investasi yang digunakan diestimasi mencapai US$328 juta.

“Hingga akhir tahun 2019, kami berupaya melakukan pengeboran total. 5 sumur eksplorasi dan 43 sumur pengembangan”, tambahnya. 

Kendati lifting migas diperkirakan lebih tinggi dari target, laba bersih justru diproyeksi mengalami penurunan. Dalam RKAP 2019, laba bersih PHE ditargetkan mencapai US$ 592 juta. Namun, prognosis hingga akhir tahun hanya senilai US$421 juta dengan realisasi hingga Oktober senilai US$ 370 juta. 

     Meidawati menjelaskan, harga minyak menjadi faktor utama tidak tercapainya target laba bersih pada tahun ini. Menurutnya, target tersebut berdasarkan asumsi harga minyak pada kisaran US$70 per barel. Namun, rata-rata harga minyak sepanjang tahun ini berada pada kisaran US$ 63 per barel.

“Target mungkin tercapai kalau tiba-tiba harga minyak jadi US$100 per barel sampai akhir tahun. Kalau dilihatkan dari produksi sudah maksimal, tapi harga ini memang sangat berpengaruh dan sesuatu yang tidak bisa kami kendalikan,” tuturnya.

Adapun, untuk tahun depan pihaknya menargetkan laba bersih senilai US$487,03 juta.

KENDALA TEKNIS

Sementara itu, Direktur Hulu Pertamina Dharmawan Samsu mengatakan bahwa target produksi tahun depan sangat berat dan menantang. Tahun ini, kendala teknis menghantui pencapaian produksi migas Pertamina.

“Kami harus pastikan pengeboran tidak telat lagi, karena kemarin kami telat untuk pengadaan rig offshore,” katanya.

Dharmawan menjelaskan target produksi migas 2020 sebanyak 923.000 boepd, akan didapatkan dari kontribusi produksi migas dari operasi hulu Pertamina di dalam negeri sebanyak 765.000 boepd. Untuk produksi minyak diperkirakan mencapai 323.000 bph produksi minyak dan produksi gas 2.559 MMscfd.

      Sementara itu, kontribusi dari operasi hulu Pertamina di luar negeri (PIEP) produksi migas sebesar 158 Mboepd, terdiri atas produksi minyak sebesar 107 Mbopd dan gas 298 MMscfd.

“Prognosis produksi migas Pertamina 2019 secara keseluruhan mencapai 906.000 boepd terdiri dari produksi Minyak 414.000 bopd dan gas 2.850 MMscfd,” tambahnya.

Bisnis Indonesia, Page-9, Saturday, Dec 14, 2019