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Thursday, June 21, 2018

Total Cancel Join in Mahakam Block



Total E & P Indonesie canceled to join PT Pertamina (Persero) in working on the Mahakam block due to reluctance to buy shares sold by the company. However, lnpex Corporation-Japan said it is still interested to participate in managing the oil and gas block in East Kalimantan.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto said Total has stated that he will not join the Mahakam block. Because the oil and gas company originating from France it wants to obtain ownership of shares in the Mahakam block for free.

the Mahakam block

"Pertamina invites Total E & P Indonesie to enter, but must pay the shares. Total does not want to pay "he said in Jakarta.

In May last year, Total E & P Indonesie expressed interest in having a share of participation in the Mahakam Block. However, Total E & P Indonesie wants share ownership up to 39%, above Pertamina's 30% freely available stock limit. This 39% share is a joint for Total and Inpex Corporation which each have a share of 19.5%, if the proposal is approved. However, Djoko asserted, Total was canceled into the Mahakam.

"Inpex in Mahakam still want, Total seems to have no interest," he said.

However, Inpex has not submitted how much of the desired shares in the Mahakam block. What is clear is that in Mahakam block, Pertamina must become 51% majority shareholder and State-Owned Enterprise (BUMD) must get 10% participating interest in Indonesia.

"So Inpex can own up to 39%," said Djoko.

Inpex has started talks about its interest in holding shares of participation in the Mahakam Block. Later, Inpex must negotiate business with Pertamina. Previously, Upstream Director of Pertamina Syamsu Alam said, opening the opportunity for Total E & P Indonesie to join to manage the block off the coast of East Kalimantan. There is no time limit to when the negotiations take place.

As it is known, Pertamina has signed a new Mahakam Block contract valid from 1 January 2018 at the end of 2015. Under the contract, the company promised a signature bonus of US $ 41 million. In addition, state revenues from production bonuses include US $ 5 million from a cumulative production of 500 million barrels of oil equivalent, of US $ 4 million from a cumulative production of 150 million barrels of oil equivalent, and US $ 4 million from a cumulative production of 1,000 million barrels of oil equivalent.

As for the first three-year investment plan, Pertamina promises, funds amounting to US $ 75.3 million. The details are respectively US $ 1.3 million, then US $ 33.5 million, and US $ 40.5 million. Currently, Pertamina begins to manage the Mahakam block in preparation for operator switching. This is to keep the oil and gas production in the block does not drop dramatically.

IN INDONESIA

Total Batal Gabung di Blok Mahakam


Total E&P Indonesie batal bergabung dengan PT Pertamina (Persero) dalam menggarap Blok Mahakam karena enggan membeli saham yang dijual perseroan. Namun, lnpex Corporation-Japan menyatakan masih berminat ikut mengelola blok migas di Kalimantan Timur tersebut.

Direktur jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto mengatakan, Total sudah menyatakan tidak akan bergabung mengelola Blok Mahakam. Pasalnya, perusahaan migas berasal dari Perancis itu ingin memperoleh kepemilikan saham di Blok Mahakam secara gratis. 

“Pertamina itu mempersilahkan Total E&P Indonesie masuk, tetapi harus membayar saham. Total tidak mau membayar" kata dia di Jakarta.

Pada Mei tahun lalu, Total E&P Indonesie menyatakan berminat memiliki saham partisipasi di Blok Mahakam. Namun, Total E&P Indonesie menginginkan kepemilikan saham hingga 39%, di atas batas saham yang dapat dilepas Pertamina sebesar 30%. Saham 39% ini merupakan gabungan untuk Total dan Inpex Corporation yang masing-masing memiliki bagian 19,5%, jika usulan itu disetujui. Namun, Djoko menegaskan, Total batal masuk ke Mahakam.

“Inpex di Mahakam masih mau, Total sepertinya tidak ada minat,” ujar dia.

Meski demikian, Inpex belum menyampaikan berapa besar saham yang diinginkan di Blok Mahakam. Yang jelas, di Blok Mahakam, Pertamina harus menjadi pemegang saham mayoritas 51% dan Badan Usaha Milik Daerah (BUMD) harus memperoleh hak partisipasi Indonesia sebesar 10%.

“Jadi Inpex bisa memiliki sampai 39%,” tutur Djoko. 

Inpex sudah memulai pembicaraan tentang minatnya memegang saham partisipasi di Blok Mahakam tersebut. Nantinya, Inpex harus negosiasi bisnis dengan Pertamina. Sebelumnya, Direktur Hulu Pertamina Syamsu Alam mengatakan, membuka kesempatan bagi Total E&P Indonesie untuk ikut bergabung mengelola blok di lepas pantai Kalimantan Timur itu. Tidak ada batasan waktu hingga kapan negosiasi berlangsung.  

Seperti diketahui Pertamina telah menandatangani kontrak baru Blok Mahakam yang berlaku mulai 1 Januari 2018 pada akhir 2015 lalu. Dalam kontrak itu, perseroan menjanjikan bonus tanda tangan US$ 41 juta. Selain itu juga penerimaan negara dari bonus produksi meliputi US$ 5 juta dari kumulatif produksi 500 juta barel setara minyak, sebesar US$ 4 juta dari kumulatif produksi 150 juta barel setara minyak, dan US$ 4 juta dari kumulatif produksi 1.000 juta barel setara minyak.

Sementara untuk rencana investasi tiga tahun pertama, Pertamina menjanjikan, dana sebesar US$ 75,3 juta. Rinciannya secara berurutan US$ 1,3
juta, kemudian US$ 33,5 juta, dan US$ 40,5 juta. Saat ini, Pertamina mulai ikut mengelola Blok Mahakam untuk persiapan peralihan operator. Hal ini untuk menjaga agar produksi migas di blok tersebut tidak turun drastis. 

Investor Daily, Page-9, Tuesday, June 5, 2018

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