Pertamina & Aramco Form a Joint Venture

PT Pertamina (Persero) targets the establishment of a joint venture with Saudi Aramco for the revitalization project of Cilacap Refinery in Cilacap Regency, Central Java, can be realized next year.

Saudi Aramco

Pertamina Corporate Secretary Syahrial Muchtar said that the Cilacap Refinery development plan (RDMP) plan was still going according to plan and there were no obstacles. The oil and gas company owned by the Kingdom of Saudi Arabia which is Pertamina's partner in revitalizing the Cilacap Refinery is still committed to increasing the refinery's capacity.

"[Establishment of a joint venture company] we must start next year. Everything is still consistent, "he said, Monday (12/17).

Syahrial stressed that the ownership of each party in the joint venture did not change. In the joint venture, Pertamina has controlled 55% shares and Aramco has 45%. However, both parties are still calculating assets in the revitalization process of the Cilacap Refinery. The two companies have different value calculations so they have not yet obtained an agreement.

"That's normal. They count, we also count. This is the stipulation in what number will be agreed upon. "

Arcandra Tahar 

Previously, Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar acknowledged, currently related to the Cilacap Refinery project, Pertamina is evaluating the establishment of a joint venture in order to obtain benefits in accordance with the business framework.

"The business framework already exists, but for example Cilacap, the calculation of the valuation of its assets that has not yet been agreed upon, must be calculated in detail," Arcandra said.

Mohammad bin Salman

During a visit to Buenos Aires, Argentina at the end of November 2018, Vice President Jusuf Kalla held a bilateral meeting with Crown Prince of Saudi Arabia Mohammad bin Salman on the sidelines of the G-20 Summit. The meeting took place in a bilateral area located at Costa Salguero Center, Buenos Aires.

Jusuf Kalla

Both are committed to strengthening relations between countries, especially in the field of economic investment. In the meeting, Jusuf Kalla said that Saudi Arabia asked the Indonesian Government to accelerate the realization of the construction of an oil refinery in Cilacap, Central Java.

"We have an agreement to build an oil refinery in Cilacap. They ask to be accelerated. The investment is very large, around US $ 56 billion.

IN INDONESIAN

Pertamina & Aramco Bentuk Usaha Patungan

PT Pertamina (Persero) menargetkan pembentukan perusahaan patungan bersama dengan Saudi Aramco untuk proyek revitalisasi Kilang Cilacap di Kabupaten Cilacap, Jawa Tengah dapat terealisasi tahun depan.

Sekretaris Perusahaan Pertamina Syahrial Muchtar menuturkan bahwa rencana revitalisasi (refinery development master plan/RDMP) Kilang Cilacap masih berjalan sesuai dengan rencana dan tidak ada kendala. Perusahaan migas milik Kerajaan Arab Saudi yang menjadi mitra Pertamina dalam revitalisasi Kilang Cilacap itu masih tetap berkomitmen untuk menambah kapasitas kilang itu.

“[Pembentukan perusahaan patungan] pada tahun depan pun harus bisa kami mulai. Semua masih konsisten,” ujarnya, Senin (17/12).

Syahrial menegaskan bahwa kepemilikan saham masing-masing pihak pada perusahaan patungan tidak mengalami perubahan. Dalam perusahaan patungan itu, Pertamina telah menguasai saham 55% dan Aramco 45%. Namun, kedua belah pihak masih menghitung aset dalam proses revitalisasi Kilang Cilacap. Kedua perusahaan itu memiliki perhitungan nilai yang berbeda sehingga belum memperoleh kesepakatan.

“ltu normal. Mereka hitung, kami juga hitung. Ini ketentuannya di angka berapa yang nanti disepakati.”

Sebelumnya, Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengakui, saat ini terkait dengan proyek Kilang Cilacap, Pertamina sedang mengevaluasi pembentukan usaha patungan agar dapat memperoleh keuntungan yang sesuai dengan kerangka bisnis.

“Kerangka bisnisnya sudah ada, tetapi misalnya Cilacap, perhitungan valuasi asetnya ini yang belum sepakat, harus dihitung secara detail,” kata Arcandra.

Dalam kunjungan ke Buenos Aires, Argentina pada akhir November 2018, Wakil Presiden Jusuf Kalla melakukan pertemuan bilateral dengan Putra Mahkota Kerajaan Arab Saudi Mohammad bin Salman di sela-sela Konferensi Tingkat Tinggi (KTT) G-20. Pertemuan tersebut berlangsung di area bilateral yang terletak di Costa Salguero Center, Buenos Aires.

Keduanya berkomitmen untuk mempererat hubungan antarnegara, khususnya di bidang investasi ekonomi. Dalam pertemuan tersebut, Jusuf Kalla menyampaikan bahwa Arab Saudi meminta Pemerintah Indonesia untuk dapat mempercepat realisasi pembangunan kilang minyak di Cilacap, Jawa Tengah.

“Kita sudah ada perjanjian untuk bangun kilang minyak di Cilacap. Mereka minta dipercepat. Investasinya sangat besar, sekitar US$ 56 miliar.

Bisnis Indonesia, Page-24, Wednesday, Dec 19, 2018

PEP Asset 4 Oil Production Exceeds Target

Closing 2018, the oil production of PT Pertamina EP Asset 4 exceeded the target of 14,032 barrels of oil per day (BOPD). Until the end of November, the production of the Cepu Field field, Poleng Field, Papua Field, Donggi Matindok Field, and Sukowati Field went through 17,235 BOPD.

Pertamina EP Asset 4

"With the achievement of the production of 17,235 barrels of oil per day (BOPD), PT Pertamina EP Asset 4 exceeded the target of 121.65 percent," said the Production Director and Operation of PT Pertamina EP, Chalid Said Salim.

It was said, asset 4 performance was each supported from the Cepu Field field, Poleng Field, Papua Field, Donggi Matindok Field, and especially Sukowati Field. Alhamdulillah, the 4 production assets are above the 2018 target, where Sukowati Field becomes the biggest contribution well, "he said.

Agus Amperianto

In the same place, the General Manager of Pertamina EP Asset 4, Agus Amperianto said, until 29 November 2018 then, Sukowati's production reached 9,697 BOPD. This result exceeded the planned production target of 8,000 BOPD.

"Thank God, Sukowati Field's oil production has exceeded the 2018 production target of 8,000 BOPD," said Agus.

Blogger : Agus Purnomo in Pertamina EP Asset 4 Tuban

While gas production in Asset 4 also shows a brilliant performance, amounting to 184.17 MMSCFD or 113 percent of this year's target of 157.59 MMSCFD. The largest gas production of PT Pertamina EP Asset 4 is supported by the existence of 3 Gas Processing Centers / Central Processing Plants (CPPs) in the Gundih Area in Cepu Field, Central Java.

In this field, Pertamina EP managed to record production of up to around 67.55 MMSCFD and coupled with Donggi CPP and Matindok CPP in Sulawesi with total production reaching 99.06 MMSCFD.

Blogger : Agus Purnomo in Pertamina EP Asset 4 Tuban

"During oil, our gas production can operate above the target set by the company. To maintain gas supply we continue to make efforts to maintain production with HCV Well drilling at Cepu Field and Wolai Exploration Wells 001 in Luwuk District, Central Sulawesi, "said Agus.

Blogger : Agus Purnomo in Pertamina EP Asset 4 Surabaya

Radar Gresik, Page-4, Wednesday, Dec 19, 2018

Remove Multilevel Traders, Not Guarantee Gas Prices Down

However, the abolition of multilevel gas traders does not always reduce gas prices. The gas distribution regime in stages has ended. This year, the Ministry of Energy and Mineral Resources (ESDM) abolished multilevel gas traders, who have been considered to be an obstacle to accelerating gas shipments to end users. By removing multilevel gas traders, the government is now reallocating (reallocating) six gas contracts to at least eight business entities.

Later, gas supply can be more smoothly. The order is the supply of gas from the source (oil and gas contractor) to the business entity and forwarded to the end user. This is the mandate of ESDM Minister Regulation Number 6 of 2016 concerning Provisions and Procedures for Determining the Allocation and Utilization and Price of Natural Gas.

Before that rule, the flow of gas supply was very long. In order, the supply from the gas source is sent to the business entity. Then sent again to the level one consumer trader (trader), then goes to the second level consumer trader. Deputy Minister of ESDM Arcandra Tahar said the government had completed all cases of gas traders.

Arcandra Tahar

"All have been allocated," he said at the ESDM Ministry Office.

In addition to reallocation, the Gas Sale and Purchase Agreement (PJBG) from the business entity to the end user has also been signed.

"There is no problem with the PJBG," Arcandra said.

By trimming multilevel gas traders, he explained, this could not necessarily reduce gas prices to end users. Because, the decline in gas prices depends on the PJBG.

Referring to data obtained by KONTAN, there are six reallocation letters issued by the Ministry of Energy and Mineral Resources. First, the reallocation of gas from Jatinegara Field owned by PT Pertamina EP to PT Bayu Buana Gemilang. Previously, the gas from PT Pertamina's subsidiary for PT Sinergi Patriot was later sold to PT Pasundan Resources. Then the company sold it back to PT Bayu Buana Gemilang.

PT Pertamina Hulu Energi West Madura Offshore (PHE WMO)

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

Second, the reallocation of gas from PT Pertamina Hulu Energi West Madura Offshore (PHE WMO) to PT Perusahaan Gas Negara Tbk (PGAS). Previously, the gas from the WMO Block was allocated first to PT Gresik Migas, then to PGAS. Third, the reallocation of gas supply from JOB PHE-Talisman Jambi Merang to PT Inti Daya Latu Prima and PGAS. This gas allotment was previously sold to PT Pembangunan Batam City before the two Inti Daya and PGAS business entities.

Fourth, the gas allocation from JOB PHE-Talisman Jambi Merang was reallocated from PT Riau Investment Development to PT Gagas Energi Indonesia. Previously, the supply flowed first to the Riau Investment Development then to PT Taruko Energi, which was just bought by Gagas Energi. Fifth, supplies from Pulau Gading Field and Kemawang JON River PHE-Talisman Jambi Merang were reallocated from PDPDE South Sumatra to PT PDPDE Gas.

Supply from the field was previously sold first to South Sumatra PDPDE before being purchased by PDPDE Gas. Sixth, the supply from Terang Sirasun Batur (TSB) Field, which was worked out by Kangean Energy Indonesia LTD, was reallocated to PT Bayu Buana Gemilang and PT Sarana Cepu Energi.

Fahmy Radhi

Energy Economics Observer from UGM

and Former Member of the Oil and Gas Anti-Mafia Team

Energy and Mining Observer at Gadjah Mada University (UGM), Fahmy Radhi assessed, with gas reallocation the possibility of gas prices could go down.

Gadjah Mada University (UGM)

"But the decline has not been significant," he said.

This is because the gas infrastructure is still small. Especially those built by PGAS and Pertagas that have not reached all end users.

"So, without the addition of pipelines, it is impossible for gas prices to be reduced to the equivalent of gas prices in Malaysia," Fahmy concluded.

IN INDONESIAN

Hapus Trader Bertingkat, Tak Jamin Harga Gas Turun

Namun, penghapusan trader gas bertingkat tidak selalu menurunkan harga gas. Rezim penyaluran gas secara bertingkat telah berakhir. Tahun ini, Kementerian Energi dan Sumber Daya Mineral (ESDM) menghapus trader gas bertingkat, yang selama ini dinilai menjadi penghambat percepatan pengiriman gas kepada pengguna akhir (end user). Dengan menghapus trader gas bertingkat, pemerintah kini mengalokasikan ulang (realokasi) enam kontrak gas kepada sedikitnya delapan badan usaha. 

Kelak, pasokan gas bisa semakin lancar. Urutannya adalah pasokan gas dari sumber (kontraktor migas) ke badan usaha dan diteruskan ke pengguna akhir. Ini merupakan amanat Peraturan Menteri ESDM Nomor 6 Tahun 2016 tentang Ketentuan dan Tata Cara Penetapan Alokasi dan Pemanfaatan serta Harga Gas Bumi.

Sebelum aturan itu, alur pasokan gas sangat panjang. Urutannya, pasokan dari sumber gas dikirim ke badan usaha. Selanjutnya dikirim lagi ke badan usaha (trader) konsumen tingkat satu, kemudian masuk ke trader konsumen tingkat dua. Wakil Menteri ESDM Arcandra Tahar mengatakan pemerintah telah menyelesaikan seluruh kasus trader gas.

"Sudah dialokasi semua," ungkap dia di Kantor Kementerian ESDM.

Selain realokasi, Perjanjian Jual Beli Gas (PJBG) dari badan usaha ke pengguna akhir pun sudah ditandatangani.

"Tidak ada masalah dengan PJBG," kata Arcandra.

Dengan pemangkasan trader gas bertingkat, dia menjelaskan, hal tersebut tidak lantas bisa menurunkan harga gas ke pengguna akhir. Sebab, penurunan harga gas tergantung PJBG.

Mengacu data yang diperoleh KONTAN, ada enam Surat realokasi yang diterbitkan Kementerian ESDM. Pertama, realokasi gas dari Lapangan Jatinegara milik PT Pertamina EP ke PT Bayu Buana Gemilang. Sebelumnya, gas dari anak usaha PT Pertamina itu untuk PT Sinergi Patriot kemudian dijual ke PT Pasundan Resources. Lantas perusahaan ini menjualnya kembali ke PT Bayu Buana Gemilang.

Kedua, realokasi gas dari PT Pertamina Hulu Energi West Madura Offshore (PHE WMO) ke PT Perusahaan Gas Negara Tbk (PGAS). Sebelumnya, gas dari Blok WMO ini dialokasikan terlebih dulu ke PT Gresik Migas, kemudian ke PGAS. Ketiga, realokasi pasokan gas dari JOB PHE-Talisman Jambi Merang ke PT Inti Daya Latu Prima dan PGAS. Jatah gas ini sebelumnya dijual ke PT Pembangunan Kota Batam terlebih dulu sebelum ke dua badan usaha Inti Daya dan PGAS. 

Keempat, jatah gas dari JOB PHE-Talisman Jambi Merang direalokasi dari PT Pengembangan Investasi Riau ke PT Gagas Energi Indonesia. Sebelumnya, pasokan mengalir dulu ke Pengembangan Investasi Riau kemudian ke PT Taruko Energi, baru dibeli oleh Gagas Energi. Kelima, pasokan dari Lapangan Pulau Gading dan Sungai Kemawang JON PHE-Talisman Jambi Merang direalokasi dari PDPDE Sumatra Selatan ke PT PDPDE Gas. 

Pasokan dari lapangan itu sebelumnya dijual dulu ke PDPDE Sumatra Selatan sebelum dibeli oleh PDPDE Gas. Keenam, pasokan dari Lapangan Terang Sirasun Batur (TSB) yang digarap Kangean Energy Indonesia LTD direalokasi ke PT Bayu Buana Gemilang dan PT Sarana Cepu Energi.

Fahmy Radhi

Pengamat Ekonomi Energi dari UGM

dan Mantan Anggota Tim Anti Mafia Migas

Pengamat Energi dan Pertambangan Universitas Gadjah Mada (UGM), Fahmy Radhi menilai, dengan realokasi gas kemungkinan harga gas bisa bisa turun. 

"Tapi penurunannya belum signifikan," kata dia.

Hal itu lantaran infrastruktur gas masih sedikit. Terutama yang dibangun PGAS dan Pertagas yang belum menjangkau semua end user.

"Jadi, tanpa ada penambahan jaringan pipa, mustahil harga gas bisa diturunkan setara dengan harga gas di Malaysia, " pungkas Fahmy.

Kontan, Page-14, Wednesday, Dec 19, 2018

The Rokan Block Contract Will Be Signed By The End Of The Year

PT Pertamina will pay off the signature bonus and the Rokan Block performance bond this weekend. That way, the Rokan Block contract can be signed by the end of this year.

Director General of Oil and Gas (Dirjen Migas) of the Ministry of Energy and Mineral Resources, Djoko Siswanto said, before the contact signature, Pertamina had to pay a signature bonus of US $ 784 million. In addition, Pertamina will pay Performance Bond at 10% of the defined work commitment (KKP) worth US $ 500 million.

the Rokan Block

The Ministry of Energy and Mineral Resources stated that there were no obstacles from Pertamina regarding the payment of signature bonuses and performance bonds. The government ensures that transactions can be completed by the end of this week.

"If I'm not mistaken, they want to pay it on December 21, 2018" said Djoko.

Pertamina's Corporate Secretary Syahrial Mukhtar said that the signature of the Rokan Block contract would indeed be carried out before the end of this year.

"The point is this month, before the end of the year. We are trying everything at the end of the year, so there will be no more burden," he said.

Pertamina is preparing a subsidiary to carry out the contract signature. At present, the formation of a Pertamina subsidiary is still in process.

"So the signing is a new company. Because the Rokan Block is large, it must be managed by a unit that focuses on handling it, "Syahrial added.

Regarding funding, Pertamina claims there are no obstacles. Syahrial said that the company had prepared funds to pay off signature bonuses and performance bonds.

"There is no problem," he said.

PT Chevron Pacific Indonesia

In July 2018, the government appointed Pertamina as the manager of the Rokan Block after the contract period expired in 2021. Previously, The manager of one of the richest oil and gas blocks in Indonesia is PT Chevron Pacific Indonesia. Pertamina offers a signature bonus of US $ 784 million or Rp. 11.3 trillion and the value of a definite five-year work commitment of US $ 500 million or Rp. 7.2 trillion in carrying out oil and gas exploitation activities.

The definite five-year commitment of US $ 500 million proposed by Pertamina will not only be used to develop the Rokan Block, but also other fields that have not been explored. The Rokan Block is one of the oil and gas blocks that has strategic value. Rokan Block's oil and gas production supports 26% of total national production.

The block which has an area of ​​6,220 kilometers has 96 fields. At least three fields have the potential to produce very good oil, namely the Duri, Minas and Bekasap fields. Since operating from 1971 to December 31, 2017, the total volume of production of the Block Rokan has reached 11.5 billion barrels of oil.

IN INDONESIAN

Kontrak Blok Rokan Bakal Diteken Akhir Tahun lni

PT Pertamina akan melunasi pembayaran bonus tanda tangan dan Performance bond Blok Rokan pada akhir pekan ini. Dengan begitu, kontrak Blok Rokan bisa segera ditandatangani pada akhir tahun ini.

Direktur Jenderal Minyak dan Gas Bumi (Dirjen Migas) Kementerian ESDM, Djoko Siswanto mengatakan, sebelum tanda tangan kontak, Pertamina harus membayar bonus tanda tangan sebesar US$ 784 juta. Selain itu, Pertamina akan membayar Performance bond sebesar 10% dari komitmen kerja pasti (KKP) yang senilai US$ 500 juta.

Kementerian ESDM menyatakan tidak ada kendala dari Pertamina ihwal pembayaran bonus tanda tangan dan performance bond. Pemerintah memastikan transaksi bisa selesai pada akhir pekan ini.

"Kalau tidak salah, mereka ingin membayarnya pada tanggal 21 Desember 2018" ungkap Djoko. 

Corporate Secretary Pertamina, Syahrial Mukhtar mengemukakan tanda tangan kontrak Blok Rokan memang akan dilakukan sebelum akhir tahun ini. 

"Intinya bulan ini, sebelum akhir tahun. Kami mengupayakan semuanya akhir tahun, supaya tidak ada beban lagi," ujar dia.

Pertamina sedang menyiapkan anak usaha agar bisa melaksanakan tanda tangan kontrak. Saat ini, pembentukan anak usaha Pertamina masih dalam proses. 

“Jadi nanti signingnya perusahaan baru. Karena Blok Rokan itu besar, jadi harus dikelola satu unit yang fokus menanganinya," imbuh Syahrial.

Terkait pendanaan, Pertamina mengklaim sudah tidak ada kendala. Syahrial menyebutkan pihaknya sudah menyiapkan dana untuk melunasi bonus tanda tangan dan performance bond. 

"Tidak ada masalah," ungkap dia.

Pada Juli 2018, pemerintah menunjuk Pertamina sebagai pengelola Blok Rokan setelah masa kontraknya berakhir pada tahun 2021. Sebelumnya, pengelola salah satu blok migas paling kaya di Indonesia ini adalah PT Chevron Pacific Indonesia. Pertamina menyodorkan bonus tanda tangan sebesar US$ 784 juta atau Rp 11,3 triliun dan nilai komitmen kerja pasti lima tahun sebesar US$ 500 juta atau Rp 7,2 triliun dalam menjalankan aktivitas eksploitasi migas.

Komitmen pasti lima tahun US$ 500 juta yang diajukan Pertamina tidak hanya akan digunakan untuk mengembangkan Blok Rokan, tetapi juga lapangan lainnya yang belum dieksplorasi. Blok Rokan merupakan salah satu blok migas yang bernilai strategis. Produksi migas Blok Rokan mendukung 26% dari total produksi nasional.

Blok yang memiliki luas 6.220 kilometer ini memiliki 96 lapangan. Setidaknya tiga lapangan berpotensi menghasilkan minyak sangat baik yaitu lapangan Duri, Minas dan Bekasap. Sejak beroperasi 1971 hingga 31 Desember 2017, volume total produksi Blok Rokan mencapai 11,5 miliar barel minyak.

Kontan, Page-14, Tuesday, Dec 18, 2018

Discussion of the Masela Block PoD Documents Speeded Up

The government accelerates the completion of the Masela Block project plan of development (POD). The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) said that currently the revision of the Masela Block POD document has been completed.

The Masela Block

Head of SKK Migas, Dwi Soetjipto Dwi said, there are two aspects being discussed for the completion of the Masela Block POD. First, related to the use of technology. SKK Migas expects the use of appropriate technology, so that the investment value of the Masela Block can be lowered.

Dwi Soetjipto

"With the most optimal technology, it means that from the investment side it can be low," Dwi explained when met at the Ministry of Energy and Mineral Resources Office.

Inpex Corporation

The second aspect is the problem of the level of domestic content (TKDN) to develop the Masela Block. Dwi said that TKDN in the Masela Block project must be maximized.

"Now it is being processed and we strongly encourage and emphasize that the realization of TKDN can be as much as possible," Dwi said.

While related to incentives, Dwi said that this was still under discussion.

"We are still discussing," he said.

Ignasius Jonan

SKK Migas wants the discussion of the two aspects to be resolved soon. As a result, in the near future the Masela Block PoD can be immediately handed over to the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan at the end of December 2018.

"Hopefully the end of December will be finished," he concluded.

IN INDONESIAN

Pembahasan Dokumen PoD Blok Masela Dikebut

Pemerintah mempercepat penyelesaian dokumen rencana pengembangan atau plan of development (POD) proyek Blok Masela. Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyebutkan saat ini revisi dokumen POD Blok Masela sudah selesai.

Kepala SKK Migas, Dwi Soetjipto Dwi bilang, ada dua aspek yang tengah dibahas untuk penyelesaian POD Blok Masela. Pertama, terkait penggunaan teknologi. SKK Migas mengharapkan penggunaan teknologi yang tepat, sehingga nilai investasi Blok Masela bisa ditekan lebih rendah. 

"Dengan teknologi yang paling optimal, artinya dari sisi investasi bisa rendah, " jelas Dwi saat ditemui di Kantor Kementerian ESDM.

Aspek kedua adalah masalah tingkat kandungan dalam negeri (TKDN) untuk mengembangkan Blok Masela. Dwi menyebutkan TKDN di proyek Blok Masela harus maksimal. 

"Sekarang ini sedang diproses dan kami sangat mendorong dan menekankan agar realisasi TKDN bisa semaksimal mungkin," kata Dwi.

Sementara terkait insentif, Dwi mengemukakan hal tersebut masih dalam pembahasan. 

"Kami masih terus membahas," ujar dia. 

SKK Migas menginginkan pembahasan kedua aspek itu bisa segera diselesaikan. Alhasil, dalam waktu dekat PoD Blok Masela bisa segera diserahkan kepada Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan pada akhir Desember 2018.

"Mudah-mudahan akhir Desember akan selesai," pungkas dia.

Kontan, Page-14, Tuesday, Dec 18, 2018

Next year, the Joint Venture of Cilacap Refinery is Formed

Cilacap's Refinery Development Master Plan (RDMP) project will begin. PT Pertamina (Persero) and Saudi Aramco will soon form a joint venture to develop the Cilacap RDMP refinery project next year.

Saudi Aramco Refinery

PT Pertamina Corporate Secretary Syahrial Mukhtar said that Saudi Aramco as a partner in the Cilacap RDMP project was still consistently building the project with Pertamina. Aramco and Pertamina also target to be able to immediately form a joint venture company.

"We must start next year," he said.

Regarding share ownership in a joint venture, according to Syahrial, there will be no change, Pertamina still holds control of 55% of shares and Saudi Aramco for 45% of the shares. Although currently Pertamina and Saudi Aramco are still in the discussion stage regarding spin-off assets, the two companies have not yet agreed on the calculation of Pertamina's assets in the Cilacap RDMP project.

"That's normal. They count, we also count. This will be found at what number will be agreed upon, "Syahrial said.

Just so you know. The investment value for the Cilacap RDMP project is estimated at US $ 5.5 billion. According to the plan, the capacity of the Cilacap RDMP project will increase to 400,000 barrels per day (blah) with products that meet Euro V specifications, basic petrochemicals, and Group II Base Oil for lubricants.

IN INDONESIAN

Tahun Depan, Joint Venture Kilang Cilacap Terbentuk

Proyek Refinery Development Master Plan (RDMP) Cilacap akan dimulai. PT Pertamina (Persero) dan Saudi Aramco segera membentuk perusahaan patungan (joint venture) terhadap pengembangan proyek kilang RDMP Cilacap tahun depan. 

Corporate Secretary PT Pertamina Syahrial Mukhtar menyebutkan, Saudi Aramco sebagai mitra di proyek RDMP Cilacap masih konsisten membangun proyek tersebut bersama Pertamina. Aramco dan Pertamina pun menargetkan bisa segera membentuk perusahaan patungan.

"Pada tahun depan harus bisa kami mulai," ungkap dia.

Mengenai kepemilikan saham di perusahaan patungan, menurut Syahrial, tidak akan ada perubahan, Pertamina tetap memegang kendali sebanyak 55% saham dan Saudi Aramco sebesar 45% saham. Meski sekarang ini Pertamina dan Saudi Aramco masih dalam tahap pembahasan terkait spin off aset kedua perusahaan belum juga sepakat tentang perhitungan aset Pertamina di proyek RDMP Cilacap. 

“Itu kan normal. Mereka hitung, kami juga hitung. Ini akan ketemu di angka berapa yang nanti disepakati," ujar Syahrial.

Asal tahu saja. Nilai investasi untuk proyek RDMP Cilacap diperkirakan mencapai US$ 5,5 miliar. Menurut rencana, kapasitas proyek RDMP Cilacap akan bertambah menjadi 400.000 barel per hari (blah) dengan hasil produk yang memenuhi spesitikasi Euro V, petrokimia dasar (basic petrochemical), dan Group II Base Oil untuk pelumas.

Kontan, Page-14, Tuesday, Dec 18, 2018

Land Not Ready

PT Pertamina (Persero) has decided to build a refinery in Tuban, East Java, but the company has not completed land acquisition. So far, the progress that has been made is the location of the construction of the refinery which was decided in Tuban and has not changed and the original plan.

Corporate Secretary of PT Pertamina (Persero) Syahrial Muchtar said that the reason for choosing an oil refinery in Tuban, East Java, was to be close to the existing refinery facility, Trans Pacific Petrochemical Indotama (TPPI).

Rosneft Refinery in Tuban East Java

TPPI is a subsidiary of PT Tuban Petrochemical Industries (Tuban Petro). TPPI was initiated in 1995 by Tirtamas. The monetary crisis forced this company to be handed over by the owner to the government. Syahrial explained, the company had made several options for the location of the construction of an oil refinery in East Java. All of the options have gone through technical studies.

"The [oil refinery location] is directed there [Tuban] because we want to integrate with TPPI. Now, we can now complete the land acquisition process. "The land acquisition process is the same, as we have previously experienced," he said.

Based on data from the Committee for the Acceleration of Priority Infrastructure Provision (KPPIP) Tuban Refinery is a new oil refinery development project with a production capacity of 300,000 barrels per day (bpd) to be built in Tuban, East Java. Pertamina targets the Tuban Refinery project to be completed in 2025, meaning that Pertamina still has 7 years.

Rosneft Refinery

Desasin refinery will use a petrochemical configuration that is integrated with PT Trans Pacific Petrochemical Indotama. Pertamina had previously formed a joint venture with Rosneft, an oil and gas company from Russia.

Rosneft Russia

The joint venture, PT Pertamina Rosneft Processing and Petrochemical (PRPP), was established on November 28, 2017. Pertamina has also requested legal opinion from state lawyers about the validity of the oil refinery project in the public interest category to answer the doubts of the East Java Provincial Government in issuing location determination permits.

Arcandra Tahar

Last week, Deputy Minister of Energy and Mineral Resources Arcandra Tahar said that the planned construction of an oil refinery by Pertamina in Situbondo was canceled and returned to Tuban.

IN INDONESIAN

Lahan Belum Siap

PT Pertamina (Persero) telah memutuskan lokasi pembangunan kilang minyak di Tuban, Jawa Timur, tetapi perseroan belum menyelesaikan pembebasan lahan. Sejauh ini, kemajuan yang sudah didapatkan adalah lokasi pembangunan kilang yang diputuskan di Tuban dan tidak berubah dan rencana awal.

Sekretaris Perusahaan PT Pertamina (Persero) Syahrial Muchtar mengatakan bahwa alasan pemilihan lokasi pembangunan kilang minyak di Tuban, Jawa Timur, agar dekat dengan fasilitas kilang yang sudah ada, yaitu Trans Pacific Petrochemical lndotama (TPPI).

TPPI merupakan anak perusahaan dari PT Tuban Petrochemical Industries (Tuban Petro). TPPI dirintis pada 1995 oleh Tirtamas. Krisis moneter memaksa perusahaan ini diserahkan oleh sang pemilik kepada pemerintah. Syahrial menjelaskan, perseroan telah membuat beberapa opsi lokasi pembangunan kilang minyak di Jawa Timur. Seluruh opsi itu telah melalui kajian teknis.

“Kalau [lokasi kilang minyak] diarahkan ke sana [Tuban] karena kami ingin integrasikan dengan TPPI. Nah, sekarang kami proses pembebasan tanah bisa segera kami selesaikan. Proses pembebasan [lahan] sama saja, seperti yang sebelumnya pernah kami alami,” tuturnya.

Berdasarkan data Komite Percepatan Penyediaan Infrastruktur Prioritas (KPPIP) Kilang Tuban merupakan proyek pembangunan kilang minyak baru dengan kapasitas produksi 300.000 barel per hari (bph) yang akan dibangun di Tuban, Jawa Timur. Pertamina menargetkan proyek Kilang Tuban selesai pada 2025 Artinya, Pertamina masih memiliki waktu 7 tahun.

Desasin kilang akan menggunakan konfigurasi petrokimia yang terintegrasi dengan PT Trans Pacific Petrochemical Indotama. Pertamina sebelumnya telah membentuk perusahaan patungan dengan Rosneft, perusahaan migas dari Rusia. 

Perusahaan patungan, PT Pertamina Rosneft Pengolahan dan Petrokimia (PRPP), didirikan pada 28 November 2017. Pertamina juga telah meminta opini hukum dari pengacara negara tentang keabsahan proyek kilang minyak dalam kategori kepentingan umum untuk menjawab keraguan Pemerintah Provinsi Jawa Timur dalam penerbitan izin penetapan lokasi.

Pekan lalu, Wakil Menteri Energi dan Surnber Daya Mineral Arcandra Tahar mengatakan bahwa rencana pembangunan kilang minyak oleh Pertamina di Situbondo dibatalkan dan dikembalikan ke Tuban.

Bisnis Indonesia, Page-24, Tuesday, Dec 18, 2018

Pertamina is Ready to Deposit IDR 11 Trillion

The Ministry of Energy and Mineral Resources said that PT Pertamina (Persero) immediately finalized the payment of the signature bonus and performance bonds of the Rokan Block scheduled this week. 

     Director General of Oil and Gas (Oil and Gas) of the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto said the signing of the new contract of the former Chevron Rokan Block will be made after the obligation in the form of a signature bonus payment (signature bonus) is paid off. According to him, there are currently no obstacles in repaying these obligations.

"There are no obstacles, just waiting to be paid. If I am not mistaken, Pertamina will pay on December 21, 2018, "he said.

Rokan Block 

In the management of Rokan Block, Pertamina must pay a signature bonus worth US $ 784 million or around Rp. 11.3 trillion and performance bonds in the form of 10% of the work commitment fund. The value of the exact commitment of the Rokan Block is set at US $ 500 million or Rp. 7.2 trillion. If the signature bonus payment can be realized this week, Djoko is optimistic that the signing of the new Rokan Block contract can be carried out at the end of this year.

Meanwhile in a separate place, Corporate Secretary of PT Pertamina (Persero) Syahrial Muchtar said that his party is still preparing a new subsidiary unit to manage the Rokan Block. Because the establishment of a new subsidiary is needed to manage large blocks of the Rokan class so that the management aspects become more focused.

Later the signing of the Rokan Block contract is carried out by the new subsidiary. Syahrial said that Pertamina is still committed to completing the Rokan Block signing at the end of this year.

"The point is this month. Before the end of the year. We are trying all the end of the year so there will be no more burden. "

Regarding the payment of the Block Rokan signature bonus, Syahrial added that his party had prepared funds for the payment of the obligation. However, he did not explain further about the source of the intended fund.

"Funds have no problems."

At the end of last July, the government finally provided management for the 20-year Rokan Block to Pertamina. After the Rokan Block contract expires in 2021, the block will be transferred from the United States oil and gas company Chevron to Pertamina with 100% management rights.

STRATEGIC VALUE

From the records, the Rokan Block itself includes strategic oil and gas blocks. The block's oil and gas production contributes around 26% of total national production. The block which has an area of ​​6,220 square kilometers has 96 fields where three fields have the potential to produce oil very good, namely Duri, Minas and Bekasap. It has been recorded, since operating from 1971 to December 31, 2017, the total production of the Rokan Block has reached 11.5 billion barrels of oil.

Previously, Pertamina had issued a global bond with a nominal value of US $ 750 million at the beginning of last November. At that time, Pahala N. Mansyuri, Finance Director of Pertamina, said that the funds raised would mainly be used to meet the company's long-term investment needs in the upstream sector.

The President Joko Widodo

Meanwhile, last weekend President Joko Widodo during his visit to Riau conveyed a request that Pertamina not manage the Rokan Block on its own, because it could involve the region. The President also supports if the Riau Provincial Government wants to increase its ownership portion in the Rokan Block which has this strategic value. Based on the ESDM Minister's Regulation, local governments can have management rights of 10.%.

"If the area is able to hold bigger why not? If the area is ready to have a bigger one, why not? But we will arrange the scheme and mechanism soon, "said the President.

Regarding this matter, Syahrial Muchtar said that he did not know in detail about this matter.

"Not available. Later, there will be talks with SKK Migas, the Ministry of Energy and Mineral Resources as well. "If the Regional Government has always been part of it," he said.

IN INDONESIAN

Pertamina Siap Setor Rp 11 Triliun

Kementerian Energi dan Sumber Daya Mineral menyatakan PT Pertamina (Persero) segera menyelesaikan pembayaran bonus tanda tangan dan performance bonds Blok Rokan yang dijadwalkan pekan ini. Direktur Jenderal Minyak dan Gas Bumi (Migas) Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto mengatakan penandatanganan kontrak baru Blok Rokan bekas milik Chevron akan dilakukan setelah kewajiban berupa pembayaran bonus tanda tangan (signature bonus) dilunasi. Menurutnya, saat ini tidak ada kendala dalam pelunasan kewajiban tersebut. 

“Tidak ada kendala, hanya menunggu dibayar. Kalau tidak salah Pertamina mau bayar tanggal 21 Desember 2018,” ujarnya.

Dalam alih kelola Blok Rokan, Pertamina harus membayar signature bonus senilai US$ 784 juta atau sekitar Rp 11,3 triliun dan performance bonds berupa 10% dari dana komitmen kerja. Adapun nilai komitmen pasti Blok Rokan ditetapkan sebesar US$ 500 juta atau Rp 7,2 triliun. Bila pembayaran signature bonus dapat terealisasi pekan ini, Djoko optimistis penandatanganan kontrak baru Blok Rokan dapat dilaksanakan pada akhir tahun ini.

Sementara itu di tempat terpisah, Sekretaris Perusahaan PT Pertamina (Persero) Syahrial Muchtar menuturkan pihaknya masih menyiapkan unit anak usaha baru untuk mengelola Blok Rokan. Pasalnya, pembentukan anak usaha baru diperlukan untuk mengelola blok besar sekelas Rokan agar aspek pengelolaannya menjadi lebih fokus.

Nantinya penandatanganan kontrak Blok Rokan dilakukan oleh anak usaha baru tersebut. Syahrial mengatakan Pertamina masih berkomitmen untuk menuntaskan penandatangan Blok Rokan pada akhir tahun ini juga.

“Intinya bulan ini. Sebelum akhir tahun. Kami upayakan semua akhir tahun supaya tidak ada beban lagi.” 

Terkait dengan pembayaran bonus tanda tangan Blok Rokan, Syahrial menambahkan pihaknya sudah menyiapkan dana untuk pembayaran kewajiban tersebut. Namun, dia tidak menjelaskan lebih jauh mengenai sumber dana dimaksud. 

“Dana sudah tidak ada masalah.” 

Pada akhir Juli lalu, pemerintah akhirnya memberikan pengelolaan Blok Rokan selama 20 tahun kepada Pertamina. Setelah kontrak Blok Rokan berakhir pada 2021, blok tersebut akan dialihkan dari perusahaan migas Amerika Serikat, Chevron, kepada Pertamina dengan hak kelola 100%. 

BERNILAI STRATEGIS

Dari catatan yang ada, Blok Rokan sendiri termasuk blok migas yang bernilai strategis. Produksi migas blok tersebut menyokong sekitar 26% dari total produksi nasional. Blok yang memiliki luas 6.220 kilometer persegi ini memiliki 96 lapangan dimana tiga lapangan berpotensi menghasilkan minyak

sangat baik, yaitu Duri, Minas dan Bekasap. Tercatat, sejak beroperasi 1971 hingga 31 Desember 2017, total produksi Blok Rokan mencapai 11,5 miliar barel minyak.

Sebelumnya, Pertamina telah menerbitkan global bond atau obligasi global dengan nominal US$ 750 juta pada awal November lalu. Saat itu Pahala N. Mansyuri, Direktur Keuangan Pertamina, mengatakan dana yang dihimpun utamanya akan digunakan untuk memenuhi kebutuhan investasi jangka panjang perseroan di sektor hulu.

Sementara itu, akhir pekan lalu Presiden Joko Widodo dalam kunjungannya ke Riau menyampaikan permintaan supaya Pertamina tidak mengelola sendiri Blok Rokan, karena dapat melibatkan daerah. Presiden pun mendukung bila Pemprov Riau ingin menaikkan porsi kepemilikannya di Blok Rokan yang memiliki nilai strategis tersebut. Berdasarkan Peraturan Menteri ESDM, pemerintah daerah dapat memiliki hak kelola sebesar 10.%.

“Kalau daerah mampu memegang lebih besar kenapa tidak? Kalau daerah siap memiliki yang lebih besar, kenapa tidak? Tetapi skema dan mekanismenya nanti akan segera kami atur" kata Presiden.

Terkait hal ini, Syahrial Muchtar mengaku pihaknya belum mengetahui secara detail mengenai hal tersebut. 

“Belum ada. Nanti pasti ada pembicaraan dengan SKK Migas, Kementerian ESDM juga. Kalau Pemda kan selama ini mereka mendapat bagian,” katanya.

Bisnis Indonesia, Page-3, Tuesday, Dec 18, 2018