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Saturday, September 23, 2017

Government Immediately Re-Auction East Kalimantan Block



The government declared to immediately auction East Kalimantan Block in the near future. Blocks offshore East Kalimantan are auctioned, after PT Pertamina decided not to continue its management and return to the government.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said Pertamina had declared it would return East Kalimantan Block to the government. Once returned, it will immediately auction block whose contract expires on October 24, 2018.

"As soon as [auctioned], there is no time for us not to auction off as soon as possible" he said in Jakarta, Friday (22/9)

He said that although Pertamina did not continue to sign the contract, it does not mean the East Kalimantan Block is not attractive. A number of oil and gas companies are said to be interested in working on the block whose contract was first signed on January 11, 1991. Unfortunately, he is reluctant to detail the company of this company.

"There are some interested, but it certainly depends on how detailed it will be. This is waiting for us. So soon we will auction, "said Arcandra.

Currently, East Kalimantan Block is operated by Chevron Indonesia Company which also holds 100% participation right. Chevron Indonesia, since 2016, has expressed no interest in continuing its contract and will be returned to the country. However, the company from the United States still has the obligation to continue operations in East Kalimantan Block until next year.

"There [Chevron] keep working, still until next year," said Arcandra.

Previously, Upstream Director of Pertamina Syamsu Alam said that his side did not manage East Kalimantan Block because the company wanted to focus on working on another termination block. Until now, Pertamina has signed the Mahakam Block contract, replacing Total E & P Indonesie as operator starting January 1, 2018. In addition, the company is still discussing the contract of seven termination blocks, Tuban Block, Ogan Komering, North Sumatera Offshore, Central, Sanga-Sanga, South East Sumatra (SES), and Attaka.

"We have decided not to continue. Consideration, we will focus on handling Mahakam and other termination blocks, right enough, "he said.

Moreover, the possibility of the Ministry of Energy and Mineral Resources (ESDM) does not approve the extension of time to evaluate the East Kalimantan Block. Previously, the company has requested an extension of time to study the block offshore of East Kalimantan due to the considerable abandonment and site restoration (ASR) burden.

Based on data from Pertamina, East Kalimantan Block has an area of ​​6,177 square kilometers. In 2015, oil and gas reserves were recorded at 213 million barrels of oil equivalent (MMboe). While the oil and gas production of this block is 36.5 thousand barrels of oil equivalent per day (kilo barrel oil equivalent per day / kboepd). ASR Efficiency, As ASR loads, Arcandra continues, it is looking for ways to cut costs. Because, during the initial production sharing contract (PSC) cost recovery, ASR burden borne by the state through reimbursement of investment costs (cost recovery).

"We need to find the right technology that can be efficient, so that high ASR costs can be suppressed," he explained.

During a visit to various oil and gas companies in Europe, he admitted also with the aim of seeing efficient ASR technology. Meanwhile, for the new regulation of ASR itself, it is still being processed. However, Arcandra did not reveal when this rule was launched. "Ministerial Regulation is being drafted," he said.

Nature had mentioned, the East Kalimantan Block's economy became difficult because of the considerable ASR burden. Because, embracing the PSC for gross split, ASR's burden becomes the responsibility of the investor completely. This is in contrast to cost recovery contracts, in which ASR is shared with the government. "

The same thing was also expressed by the Executive Director of IPA Marjolijn Wajong. According to him, oil and gas contracts signed before 1990 did not require ASR allowance. In fact, if counting the number of wells drilled for decades, the required ASR funds would be quite large. Collecting these funds to one of the companies, either contracted out or taking over the management, will be a heavy burden.

For the contractor who took over running the block out of this contract, the ASR charge is said to be able to trim the economics of the block. Meanwhile, if billed to the old contractor, no funds can be deposited considering there is no provision of funds since the beginning of the contract. The implementation of billing also has the potential for dispute between the government and the contractor.

IN INDONESIA

Pemerintah Segera Lelang Ulang Blok East Kalimantan


Pemerintah menyatakan segera melelang Blok East Kalimantan dalam waktu dekat. Blok di lepas pantai Kalimantan Timur ini dilelang, setelah PT Pertamina memutuskan untuk tidak melanjutkan pengelolaannya dan mengembalikan ke pemerintah.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, Pertamina telah menyatakan akan mengembalikan Blok East Kalimantan kepada pemerintah. Begitu dikembalikan, pihaknya bakal langsung melelang blok yang kontraknya berakhir pada 24 Oktober 2018 tersebut. 

“Secepatnya [dilelang], tidak ada waktu bagi kita untuk tidak melelang secepatnya" kata dia di Jakarta, Jumat (22/9)

Dikatakannya, meski Pertamina tidak melanjutkan hingga menandatangani kontrak, bukan berarti Blok East Kalimantan tidak menarik. Sejumlah perusahaan migas disebutnya tertarik untuk menggarap blok yang kontraknya pertama kali diteken pada 11 Januari 1991 tersebut. Sayangnya, dia enggan merinci perusahaan perusahaan ini.

“Ada beberapa tertarik, tetapi ini tentu tergantung nanti bagaimana detailnya. Ini sedang kami tunggu. Makanya secepatnya akan kami lelang,” tutur Arcandra.

Saat ini, Blok East Kalimantan dioperatori oleh Chevron Indonesia Company yang sekaligus memegang hak partisipasi 100%. Chevron Indonesia, sejak 2016 lalu, telah menyatakan tidak berminat melanjutkan kontraknya dan bakal dikembalikan ke negara. Namun, perusahaan asal Amerika Serikat ini masih memiliki kewajiban melanjutkan operasi di Blok East Kalimantan sampai tahun depan. 

“Di sana [Chevron] tetap bekerja kan, masih sampai tahun depan,” ujar Arcandra.

Sebelumnya, Direktur Hulu Pertamina Syamsu Alam mengatakan, pihaknya tidak lanjut mengelola Blok East Kalimantan lantaran perseroan ingin fokus menggarap blok terminasi lain. Hingga kini, Pertamina telah meneken kontrak Blok Mahakam, menggantikan Total E&P Indonesie sebagai operator mulai 1 Januari 2018. Selain itu, perseroan juga masih membahas kontrak tujuh blok terminasi, yakni Blok Tuban, Ogan Komering, North Sumatera Offshore, Tengah, Sanga-Sanga, South East Sumatera (SES), dan Attaka.

“Sudah kami putuskan untuk tidak kami lanjutkan. Pertimbangannya, kami akan fokus menangani Mahakam dan blok terminasi lain, kan cukup banyak,” kata dia. 

Apalagi, kemungkinan Kementerian Energi dan Sumber Daya Mineral (ESDM) tidak menyetujui perpanjangan waktu untuk mengevaluasi Blok East Kalimantan. Sebelumnya, perseroan telah meminta perpanjangan waktu untuk mengkaji blok di lepas pantai Kalimantan Timur itu lantaran beban dana pascatambang (abandonment and site restoration/ASR) yang cukup besar.

Berdasarkan data Pertamina, Blok East Kalimantan memiliki luas area 6.177 kilometer persegi. Pada 2015 lalu, cadangan migas ini tercatat sebesar 213 juta barel setara minyak (million barrel oil equivalent/MMboe). Sementara produksi migas blok ini yakni sebesar 36,5 ribu barel setara minyak per hari (kilo barrel oil equivalent per day/ kboepd). Efisiensi ASR, Terkait beban ASR, Arcandra melanjutkan, pihaknya sedang mencari cara untuk memangkas biayanya. Pasalnya, pada masa awal kontrak kerja sama (production sharing contract/PSC) cost recovery, beban ASR ditanggung negara melalui penggantian biaya investasi (cost recovery).

“Kita harus cari teknologi yang pas yang bisa efisien, supaya biaya ASR yang tinggi ini bisa ditekan,” jelasnya.

Dalam kunjungan ke berbagai perusahaan migas di Eropa lalu, dirinya mengaku juga dengan tujuan melihat teknologi ASR yang efisien. Sementara itu, untuk regulasi baru soal ASR sendiri, dikatakannya masih diproses. Namun, Arcandra tidak membeberkan kapan peraturan ini diluncurkan. “Peraturan Menteri sedang disusun,” kata dia.

Alam sempat menyebutkan, keekonomian Blok East Kalimantan menjadi sulit lantaran beban ASR yang cukup besar. Pasalnya, menganut PSC bagi hasil kotor (gross split), beban ASR menjadi tanggung jawab investor sepenuhnya. Hal ini berbeda dengan kontrak cost recovery, di mana ASR ditanggung bersama dengan pemerintah. "

Hal yang sama juga sempat diungkapkan Direktur Eksekutif IPA Marjolijn Wajong. Menurutnya, kontrak migas yang diteken sebelum 1990 memang tidak mewajibkan penyisihan ASR. Padahal, jika menghitung jumlah sumur yang dibor selama berpuluh-puluh tahun, dana ASR yang diperlukan bakal cukup besar. Penagihan dana ini kepada salah satu perusahaan, baik yang kontraknya habis ataupun yang mengambil alih pengelolaannya, akan menjadi beban berat.

Bagi kontraktor yang mengambil alih kelola blok habis kontrak ini, pembebanan ASR disebutnya dapat memangkas keekonomian blok tersebut. Sementara jika ditagihkan kepada kontraktor lama, tidak ada dana yang dapat disetor mengingat memang tidak ada penyisihan dana sejak awal kontrak. Pelaksaan penagihan juga berpotensi terjadinya dispute antara pemerintah dan kontraktor.

Investor Daily, Page-9, Saturday, Sept 23, 2017

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