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Tuesday, December 18, 2018

Contracts for Two Oil and Gas Blocks Will Switch to Gross Split



The government states that there are two oil and gas blocks whose production contracts (PSC) are changed from the scheme cost recovery is a gross split. If realized, then there are a total of three oil and gas companies that change their contracts to become gross split.

25 Working Area of Gross Split Scheme

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, seven oil and gas contractors had expressed interest to revise his contract to gross split. Two of the contractors, among them, are now increasingly shifting to gross split contracts. Signing This contract amendment is expected to be carried out early next year.

Arcandra Tahar 

"[Signing] the third week of January [2019]," he said in Jakarta.

Unfortunately, Arcandra is reluctant to name the two blocks. He only mentioned that one of the oil and gas blocks that had been changed by the contract was a conventional oil and gas block. At present, it is still evaluating the contracts for the two oil and gas blocks. One of them is related to the calculation of profit sharing (split) became the allotment of cooperation contractors (KKKS) and the government, after switching the scheme of the contract to gross split.

Eni Indonesia

Previously, Eni Indonesia signed a recent signing of the PSC amendment for the Sepinggan East Block. This amendment is due to the contract scheme changed from cost recovery to gross split. The East Sepinggan Block contract is the first cost recovery scheme to switch to gross split in accordance with the contractor's proposal. One of the considerations of the contractor is the effectiveness of WK development East Sepinggan.

The East Sepinggan Block contract began on July 20, 2012 and ends in July 2042. The 30-year contract period consists of a 20-year exploration phase and 10-year production. The split for this block contractor is 67% for oil and 72% for gas, this count is for base split plus split variable.

The holders of this block's participation rights are 85% Eni East Sepinggan Limited and 15% PT Pertamina Hulu Energi, where Eni East Sepinggan Limited acts as the operator.

"Italian companies and Pertamina have moved from cost recovery to gross split. "Gross split makes the process simpler and more effective," Arcandra said.

Managing Director Fabrizio Trili

Eni Indonesia's Managing Director Fabrizio Trili revealed that the gross split scheme was the same good solution for his party and the government. With the change in the scheme of the East Sepinggan Block contract, it also obtained convenience.

"We are free to carry out our various activities, to market products, to ensure better results from gas production for both the government and Eni," Fabrizio explained.

Arcandra added, until now, the number of oil and gas blocks whose contracts using gross split schemes have reached more than 30 contracts. With Eni choosing to switch to gross split, this proves that the new oil and gas contract scheme is attractive to investors.

Production Test.

Meanwhile, ESDM Ministry Director General of Oil and Gas Djoko Siswanto said Eni had completed drilling one well at Merakes Field, East Sepinggan Block. Drill steam tests were also carried out on the well and the results were very promising.

"One Merakes well managed to produce 30 mmscfd / million metric standard cubic feet of gas per day. If 10 wells are drilled, the production can be 300 mmscfd, "he said.

Not only gas, the well also produces associated oil or condensate. The production of condensate wells, said Djoko, is around 100 barrels per day (bpd). For the planned development of Merakes Field, the East Sepinggan Block is targeted to produce gas up to 391 mmscfd with total production along the contract of 814 billion cubic feet. The production period of this field according to its economy is estimated to be around 9 years.

"The on-stream plan is 2021," he said.

IN INDONESIAN

Kontrak Dua Blok Migas akan Beralih ke Gross Split


Pemerintah menyatakan terdapat dua blok migas yang kontrak kerja samanya (production sharing contract/ PSC) diubah skemanya dari cost recovery menjadi bagi hasil kotor (gross split). Jika terealisasi, maka total terdapat tiga perusahaan migas yang mengubah kontraknya menjadi gross split.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, tujuh kontraktor migas telah menyatakan minatnya untuk merevisi kontraknya menjadi gross split. Dua kontraktor diantaranya kini semakin mantap beralih ke kontrak gross split. Penandatanganan amendemen kontrak ini diharapkan bisa dilakukan awal tahun depan.

“[Signing] minggu ketiga Januari [2019],” kata dia di Jakarta.

Sayangnya, Arcandra enggan menyebutkan nama dua blok ini. Dia hanya menyebut salah satu blok migas yang diubah kontraknya ini merupakan blok migas konvensional. Saat ini, pihaknya masih mengevaluasi kontrak kedua blok migas ini. Salah satunya yakni terkait perhitungan bagi hasil (split) yang menjadi jatah kontraktor kerja sama (KKKS) dan pemerintah, setelah beralih skema kontraknya menjadi gross split.

Sebelumnya, Eni Indonesia menandatangani baru saja menandatangani amendemen PSC untuk Blok East Sepinggan. Amendemen ini lantaran skema kontraknya berubah dari cost recovery menjadi gross split. Kontrak Blok East Sepinggan merupakan kontrak skema cost recovery pertama yang beralih menjadi gross split sesuai dengan usulan kontraktor. Salah satu pertimbangan kontraktor yakni dalam rangka efektifitas pengembangan WK
East Sepinggan.

Kontrak Blok East Sepinggan ini dimulai pada 20 Juli 2012 dan berakhir pada Juli 2042. Jangka waktu kontrak selama 30 tahun ini terdiri dari fase eksplorasi 20 tahun dan produksi 10 tahun. Bagi hasil (split) bagi kontraktor blok ini yakni sebesar 67% untuk minyak dan 72% untuk gas, hitungan ini untuk base split plus variable split. 

Pemegang hak partisipasi blok ini adalah Eni East Sepinggan Limited sebesar 85% dan PT Pertamina Hulu Energi East Sepinggan 15%, dimana Eni East Sepinggan Limited bertindak sebagai operator. 

“Perusahaan Italia dan Pertamina telah pindah dari cost recovery ke gross split. Gross split membuat proses lebih simpel dan efektif,” kata Arcandra.

Managing Director Eni Indonesia Fabrizio Trili mengungkapkan, skema gross split ini menjadi solusi yang sama bagusnya bagi pihaknya dan pemerintah. Dengan perubahan skema kontrak Blok East Sepinggan, pihaknya juga memperoleh kemudahan.

“Kami bebas dalam menjalankan berbagai kegiatan kami, untuk memasarkan produk, untuk memastikan hasil yang lebih baik dari produksi gas baik bagi pemerintah maupun Eni,” jelas Fabrizio.

Arcandra menambahkan, hingga saat ini, jumlah blok migas yang kontraknya menggunakan skema gross split telah mencapai lebih dari 30 kontrak. Dengan Eni memilih beralih ke gross split, ini membuktikan bahwa skema baru kontrak migas itu menarik bagi investor. 

Tes Produksi. 

Sementara itu, Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Djoko Siswanto mengatakan, Eni telah merampungkan pengeboran satu sumur di Lapangan Merakes, Blok East Sepinggan. Drill steam test juga telah dilakukan pada sumur tersebut dan hasilnya sangat menjanjikan.

“Satu sumur Merakes berhasil memproduksi gas 30 mmscfd/million metric standard cubic feet per day. Bila dibor 10 sumur, maka produksinya bisa 300 mmscfd,” kata dia. 

Tidak hanya gas, sumur itu juga memproduksi minyak ikutan atau kondensat. Produksi kondensat sumur itu, kata Djoko, sekitar 100 barel per hari (bph). Untuk rencana pengembangan Lapangan Merakes, Blok East Sepinggan ditargetkan dapat menghasilkan gas hingga 391 mmscfd dengan total produksi sepanjang kontrak 814 miliar kaki kubik. Masa produksi lapangan ini sesuai keekonomiannya diperkirakan sekitar 9 tahun. 

“Rencana onstream-nya 2021,” ujarnya.

Investor Daily, Page-9, Monday, Dec 17, 2018

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