Pertamina Give Opportunities Partners Master Bontang

Pertamina currently working on four modernization of refineries and the new refinery in Tuban

PT Pertamina was making some sort of competition in Bontang refinery project. In this project, Pertamina will become the majority shareholder, but only 5% -25%. Consequently, the partners will be selected later able to control a majority stake Bontang refinery. To find one, on February 28 last, Pertamina will hold expose Bontang refinery project. Of emails that have been entered into Pertamina, there are 57 potential partners, both from oil and gas companies, financial companies, traders as well as domestic investors ready to participate in exposure to expose the project.

Director of Processing and Petrochemical megaproject Hardadi Rachmat explained, Bontang's project has an internal rate of return (IRR) is higher than any other refinery projects. "What is clear at the top of high, rate of approximately 10%. If I remember correctly, Bontang was about 13%, "said Hardadi.

He also claimed, the investment could Iebih Bontang low, at $ 2 billion to $ 3 billion compared Tuban refinery project, which reached US $ 12 billion to US $ 15 billion. Bontang refinery investment is projected at US $ 8 billion to $ 12 billion. The lower Bontang refinery project because support facilities and utilities have been available in Bontang. In addition, Pertamina is the taker (buyer) of products produced Bontang.

Pertamina provides an opportunity for partners become the majority shareholder. Pertamina can only grow 5% -25% stake in Bontang, because modernization is working on four new refineries and refinery in Tuban along with Russia's Rosneft. Therefore, in the Bontang refinery should partner more than one company and could form a consortium. "We will continue to include the clause of right to buy, in 10 years - 20 years later Pertamina could buy shares of partners in Bontang," said Rachmat.

There are four characteristics of companies that later selected. Which has a strong track record in the oil processing industry, especially operational reliability and execution of the project, can adjust to the structure and business model that you want, accelerate project completion by 2023, and provide compelling value to the project.

Stages of project selection has been formulated, namely Pertamina targets to obtain strategic partners 28 April 2017. Once elected, Pertamina and partners will begin the process of a bankable feasibility study is targeted for completion in early 2018. It once completed the formation of the consortium and will set preliminary investment decision 1 that illustrates the expected initial investment Bontang refinery project. Pertamina requires selected partners include funding certainty of the project is US $ 5 million in the second quarter of 2017 and US $ 10 million beginning in 2018.

He explained, Bontang will be able to process about 300,000 barrels of crude oil per day. Strategic partners are expected to play a role in the procurement of crude and prepare funding. Partners also have the ability to enter a product that is not absorbed by the domestic market to foreign markets, such as Australia, Papua New Guinea, New Zealand and the Philippines.

IN INDOENSIAN

Pertamina Beri Peluang Mitra Menguasai Bontang

Pertamina sedang menggarap empat modernisasi kilang dan satu kilang baru di Tuban

PT Pertamina sedang membuat semacam sayembara dalam proyek Kilang Bontang. Dalam proyek ini Pertamina tidak akan menjadi pemegang saham mayoritas, melainkan hanya 5%-25%. Konsekuensinya, mitra yang akan dipilih nanti bisa  menguasai mayoritas saham Kilang Bontang. Untuk mencari mitra tersebut, pada 28 Februari kemarin, Pertamina akan menggelar project expose Kilang Bontang. Dari email yang sudah masuk ke Pertamina, ada 57 calon mitra, baik dari perusahaan minyak dan gas, perusahaan finansial, Trader serta investor domestik siap ikut dalam paparan project expose tersebut.

Direktur Megaproyek Pengolahan dan Petrokimia Rachmad Hardadi menerangkan, proyek Kilang Bontang ini memiliki internal rate of return (IRR) lebih tinggi dibandingkan proyek kilang lain. “Yang jelas di atas high, rate sekitar 10%. Kalau saya tidak salah ingat, Kilang Bontang itu sekitar 13%," kata Hardadi.

Dia juga mengklaim, investasi Kilang Bontang bisa Iebih rendah, yakni US$ 2 miliar- US$ 3 miliar dibandingkan proyek Kilang Tuban, yang mencapai US$ 12 miliar- US$ 15 miliar. Investasi kilang Bontang diproyeksi US$ 8 miliar- US$ 12 miliar. Lebih rendahnya proyek kilang Bontang lantaran fasilitas pendukung dan utilitas telah tersedia di Bontang. Selain itu, Pertamina menjadi offtaker (pembeli) produk yang dihasilkan Kilang Bontang.

Pertamina memberikan kesempatan bagi mitra menjadi pemegang saham mayoritas. Pertamina hanya bisa menanam 5%-25% saham di Kilang Bontang, lantaran sedang menggarap empat modernisasi kilang dan kilang baru di Tuban bersama Rosneft Rusia. Maka dari itu, di kilang Bontang, mitra boleh lebih dari satu perusahaan dan bisa berbentuk konsorsium. "Kami tetap akan menyertakan klausul right to buy, dalam 10 tahun - 20 tahun nanti Pertamina bisa membeli saham mitra di Kilang Bontang," kata Rachmad. 

Ada empat karakteristik perusahaan yang nanti dipilih. Yaitu memiliki rekam jejak kuat pada industri pengolahan minyak, terutama kehandalan operasional dan eksekusi proyek, dapat menyesuaikan dengan struktur dan model bisnis yang dikehendaki, mempercepat proyek selesai tahun 2023, dan memberikan nilai menarik bagi proyek.

Tahapan pemilihan proyek sudah dirumuskan, yakni Pertamina menargetkan memperoleh mitra strategis 28 April 2017. Setelah terpilih, Pertamina bersama mitra akan memulai proses bankable feasibility study yang ditargetkan selesai awal tahun 2018. Ini sekaligus menuntaskan pembentukan konsorsium dan akan ditetapkan preliminary investment decision 1 yang menggambarkan perkiraan awal investasi proyek Kilang Bontang. Pertamina mensyaratkan mitra yang dipilih menyertakan dana kepastian proyek sebesar US$ 5 juta pada kuartal II-2017 dan US$ 10 juta awal tahun 2018.

Dia menjelaskan, Kilang Bontang akan mampu mengolah minyak mentah sekitar 300.000 barel per hari. Mitra strategis diharapkan berperan dalam pengadaan crude dan menyiapkan pendanaan. Mitra juga memiliki kemampuan memasukan produk yang tidak terserap pasar dalam negeri ke pasar luar negeri, seperti Australia, Papua Nugini, Selandia Baru dan Filipina.

Kontan, Page-14, Saturday, Feb, 25, 2017