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Monday, October 29, 2018

Pertamina Needs Jumbo Funds for Oil and Gas Projects



At the time of the rising trend of oil and gas imports, PT Pertamina needs jumbo-scale investment funds in the upstream oil and gas sector (oil and gas). Investment is important in order to cut oil and gas imports while holding back the decline in oil and gas production. An international rating agency, Moody'S Investors Service noted, Indonesia needs an investment of more than US $ 150 billion or IDR 2,250 trillion with an exchange rate of IDR 15,000 per US dollar during the period 2018 to 2025.

The investment is needed to restrain the decline in production, development of gas infrastructure and expanding refinery capacity to meet growing oil demand. It may be that Pertamina and the local oil and gas contractor will bear a greater share of the investment. Because, Moody‘s assesses, the value of investments issued by foreign oil and gas companies will be more moderate because there are rules and business climate constraints.

Pertamina is confident that it can invest in the upstream oil and gas sector in Indonesia. Pertamina also continues to strive for production not to decline. About funding, PT Pertamina's Finance Director, Pahala Nugraha Mansury, Wednesday (3/10), said that Pertamina was planning to release global bonds.

"The plan is to issue global bonds before the end of this year," Pahala said, without mentioning the value.

Pertamina is currently processing this corporate action, for example applying for "request for proposals (RFP) and audits for publishing purposes
global bond. "We have audited and RFP. There are Lima Banks," Pahala said.

Later, global bond proceeds will be used, among others, to invest in the Rokan (Chevron) Block. The government grants 100% management rights to the Block Block to Pertamina, starting August 8, 2021. Currently, the Rokan Block is still managed by PT Chevron Pacific Indonesia. In the block, Pertamina will pay a signalture bonus of US $ 785 million and a definite work commitment of US $ 50 million.

Not only that, in the same block, Pertamina also needs an investment of US $ 72 billion for 20 years, from 2021 to 2041. This fund is to explore 7,000 points in the Rokan Block. In addition, Pertamina also needs funds to continue the use of enhanced oil recovery technology (EOR) the operator of the current Rokan Block by Chevron.



Energy Economics Observer from Gadjah Mada University, Fahmy Radhi, said that if managing the oil and gas block alone, it would be too much for Pertamina. There are two alternatives that Pertamina can do, namely applying for loans and sharing with strategic partners. Pertamina's choice, offering a participating interest for sharing or financing through loans.

"Building refineries requires large funds, I am the most suitable to invite partners, then sharing," he said.

IN INDONESIAN

Pertamina Butuh Dana Jumbo untuk Proyek Migas


Di saat tren kenaikan impor minyak dan gas, PT Pertamina perlu dana investasi berskala jumbo di sektor hulu minyak dan gas (migas). Investasi menjadi penting demi memangkas impor migas sekaligus menahan penurunan produksi migas. Lembaga pemeringkat internasional, Moody'S Investors Service mencatat, Indonesia membutuhkan investasi lebih dari US$ 150 miliar atau Rp 2.250 triliun dengan kurs Rp 15.000 per dolar AS selama periode 2018 hingga 2025.

Investasi itu dibutuhkan untuk menahan penurunan produksi, pengembangan infrastruktur gas serta memperluas kapasitas kilang demi memenuhi permintaan minyak yang terus bertumbuh. Boleh jadi, Pertamina beserta kontraktor migas lokal akan menanggung bagian investasi lebih besar. Sebab, Moody‘s menilai, nilai investasi yang dikeluarkan perusahaan migas asing akan lebih moderat karen ada kendala aturan dan iklim bisnis.

Pertamina yakin bisa berinvestasi di sektor hulu migas di Indonesia. Pertamina juga terus berupaya agar produksi tidak menurun. Soal pendanaan,
Direktur Keuangan PT Pertamina, Pahala Nugraha Mansury, Rabu (3/10), mengatakan, Pertamina berancang-ancang merilis obligasi global. 

"Rencana penerbitan global bond sebelum akhir tahun ini," ujar Pahala, tanpa menyebut nilainya.

Pertamina saat ini sedang memproses aksi korporasi ini, misalnya mengajukan "request for proposal (RFP) dan audit untuk keperluan penerbitan
global bond. "Kami sudah audit dan RFP. Bank ada Lima," ujar Pahala.

Kelak, dana hasil global bond digunakan antara lain untuk berinvestasi di Blok Rokan (Chevron). Pemerintah memberikan 100% hak pengelolaan Blok Rokan ke Pertamina, mulai 8 Agustus 2021. Saat ini, Blok Rokan masih dikelola PT Chevron Pacific lndonesia. Di blok itu, Pertamina akan membayar signalture bonus US$ 785 juta dan komitmen kerja pasti US$ 50 juta.

Tidak hanya itu saja, di blok yang sama, Pertamina juga membutuhkan dana investasi US$ 72 miliar selama 20 tahun, dari 2021 sampai 2041. Dana ini untuk mengeksplorasi 7.000 titik di Blok Rokan. Selain itu, Pertamina juga membutuhkan dana untuk melanjutkan penggunaan teknologi enhanced oil recovery (EOR) yang telah dilakukan operator Blok Rokan saat ini oleh Chevron.

Pengamat Ekonomi Energi Universitas Gadjah Mada, Fahmy Radhi menilai, jika mengelola blok migas sendirian, terlalu berat bagi Pertamina. Ada dua alternatif yang bisa dilakukan Pertamina, yakni mengajukan pinjaman dan sharing dengan mitra strategis.

Pilihan Pertamina, menawarkan participating interest untuk sharing atau pembiayaan lewat pinjaman.

"Membangun kilang membutuhkan dana besar, saya yang paling sesuai mengajak partner, kemudian sharing," kata dia.

Kontan, Page-1, Thursday, Oct 4, 2018

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