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Tuesday, December 18, 2018

Per November, New Oil and Gas Lifting is 1.91 Million BOEPD



The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) said that oil and gas lifting up to the end of last month was recorded at 1.91 million barrels of oil equivalent per day (barrel Oil Equivalent per day / boepd). This realization is still 95.5% of this year's oil lifting target set in the APBN of 2 million boepd.

According to SKK Migas data, both oil and gas lifting until November were still below the target. Oil lifting is recorded at only 762 thousand barrels per day (bpd) or 95.25% of the national budget target of 800 thousand bpd. Next, the realization of gas lifting of 1.14 million boepd, only reached 95% of the target set at 1.2 million boepd.

"This achievement reaches 95% of the 2018 State Budget, and until the end of the year we continue to strive for more optimal production," said Head of SKK Migas Program and Communication Division Wisnu Prabawa Taher.

He explained, the lifting performance was influenced by the performance of new wells that had not matched expectations. In addition, the rate of decline in production (decline rate) from the existing well is getting bigger. Next, there are several operating and instrument constraints, but they have been overcome.

"Then there are a number of development programs that have retreated to 2019," he said.

Drilling wells development and workover of wells are also still below the target. SKK Migas noted that drilling of 251 wells had been carried out from the target of 289 wells. Furthermore, re-work activities were realized as many as 554 wells from the target of 636 wells.

"We continue to strive for maximum achievement," Wisnu said.

Nevertheless, the realization of state revenues from the oil and gas sector actually exceeds the target. This year, state revenues from the oil and gas sector are targeted at the state budget of US $ 11.9 billion. However, the realization of this state revenue is projected to be higher, reaching US $ 16.1 billion.

"The total state revenue realization reached US $ 15.9 billion, 133% of the state budget target," Wisnu said.

Realization of cost recovery costs also exceeded the target Until last November, realization of cost recovery was recorded at US $ 10.9 billion. While the allocation in the State Budget/APBN is set at US $ 10.2 billion. Previously, Wisnu had revealed, related to the achievement of oil and gas revenues, mainly due to the increase in crude oil prices. However, this is also due to the efficiency and optimization of operating costs carried out by the cooperation contract contractors (KKKS), so that profit margins become better.

Referring to the data from the Ministry of Energy and Mineral Resources (ESDM), in the January-April period, the price of Indonesian Crude Price (ICP) was still recorded at around US $ 61-67 per barrel. Furthermore, ICP rose to US $ 72.46 per barrel in May. After that, ICP fell around US $ 70 per barrel, returning to US $ 69.36 per barrel in August, US $ 74.88 per bareL in September, and US $ 77.56 per barrel in October. However, ICP fell again in November to US $ 62.98 per barrel.

Project Operates

Wisnu added, until last November, there were five oil and gas projects operating. Some projects include the development of Block A by PT Medco E & P Malaka with an estimated peak production of 3,100 bph, the SP Project by PT Pertamina Hulu Energi Offshore North West Java (ONWJ), which produces 30 million cubic feet per day / mmscfd of gas, and the construction of a collection station at Bunyu Field in Bunyu Island, North Kalimantan by PT Pertamina EP.

"Throughout 2018, six upstream oil and gas projects will be realized (operating) with a total investment of US $ 346 million and can contribute additional production during the peak period of a total of 34 thousand boepd," Wisnu said.

Rimau Block, South Sumatra

According to him, there is still one more project that will operate at the end of this year, namely the Lica production facility in Rimau Block, South Sumatra. The project undertaken by PT Medco E & P Indonesia has an estimated peak production of 3,700 bpd.

IN INDONESIAN

Per November, Lifting Migas Baru 1,91 Juta BOEPD    


Satuan kerja Khusus Pelaksana Kegiatan Usaha Hulu MIinyak dan Gas Bumi (SKK Migas) menyatakan lifting minyak dan gas (migas) sampai akhir bulan lalu tercatat sebesar 1,91 juta barel setara minyak per hari (barrel  Oil  Equivalent per day/boepd). Realisasi ini masih 95,5% dari target lifting  minyak tahun ini yang ditetapkan dalam APBN sebesar 2 juta boepd.

Menurut data SKK Migas, baik lifting minyak maupun gas hingga November lalu masih di bawah target. Lifting minyak tercatat hanya sebesar 762 ribu barel per hari (bph) atau 95,25% dari target APBN 800 ribu bph. Berikutnya, realisasi lifting gas sebesar 1,14 juta boepd, hanya mencapai 95% dari target yang ditetapkan 1,2 juta boepd.

“Capaian tersebut mencapai 95% dari APBN 2018, dan hingga akhir tahun kami tetap upayakan produksi bisa lebih maksimal,” kata Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher.

Dia menjelaskan, performa lifting tersebut dipengaruhi oleh kinerja sumur baru yang belum sesuai ekspektasi. Selain itu, laju penurunan produksi (decline rate) dari sumur eksisting semakin besar. Berikutnya, ada beberapa kendala operasi dan instrumen, namun sudah dapat diatasi. 

“Kemudian ada beberapa program pengembangan yang mundur ke 2019,” ujarnya.

Kegiatan pengeboran sumur pengembangan dan kerja ulang (workover) sumur juga masih di bawah target. SKK Migas mencatat telah dilakukan pengeboran pengembangan 251 sumur dari target 289 sumur. Selanjutnya, kegiatan kerja ulang yang direalisasikan sebanyak 554 sumur dari target 636 sumur. 

“Secara kontinyu kami tetap mengupayakan pencapaian bisa maksimal,” tutur Wisnu.

Meski demikian, realisasi penerimaan negara dari sektor migas justru melebihi target. Pada tahun ini, penerimaan negara dari sektor migas ditargetkan dalam APBN sebesar US$ 11,9 miliar. Namun, realisasi penerimaan negara ini diproyeksikan lebih tinggi, yakni mencapai US$ 16,1 miliar.

“Realisasi penerimaan negara secara total mencapai US$ 15,9 miliar, 133% dari target APBN,” ujar Wisnu.

Realisasi biaya investasi yang dapat dikembalikan (cost recovery) juga melebihi target Sampai November lalu, realisasi cost recovery tercatat sebesar US$ 10,9 miliar. Sementara alokasi dalam APBN ditetapkan sebesar US$ 10,2 miliar. Sebelumnya, Wisnu sempat mengungkapkan, terkait capaian penerimaan migas, utamanya memang disebabkan oleh kenaikan harga minyak mentah. Namun, hal ini juga lantaran adanya efisiensi serta optimalisasi biaya operasi yang dilakukan kontraktor kontrak kerja sama (KKKS), sehingga marjin labanya menjadi lebih bagus.

Mengacu data Kementerian Energi dan Sumber Daya Mineral (ESDM), pada periode Januari-April lalu, harga minyak mentah Indonesia (Indonesian Crude Price/ICP) tercatat masih bertahan di kisaran US$ 61-67 per barel. Selanjutnya, ICP meningkat naik menjadi US$ 72,46 per barel pada Mei. Setelah itu, ICP turun di kisaran US$ 70 per barel, kembali menjadi US$ 69,36 per barel di Agustus lalu, US$ 74,88 per bareL di September, dan US$ 77,56 per barel di Oktober. Namun, ICP kembali turun di November lalu menjadi US$ 62,98 per barel.

Proyek Beroperasi

Wisnu menambahkan, hingga November lalu, tercatat terdapat lima proyek migas yang telah beroperasi. Beberapa proyek diantaranya yakni pengembangan Blok A oleh PT Medco E&P Malaka dengan estimasi produksi puncak 3.100 bph, Proyek SP oleh PT Pertamina Hulu Energi Offshore North West Java (ONWJ) yang menghasilkan gas 30 juta kaki kubik per hari (million standard cubic feet per day/mmscfd), serta pembangunan stasiun pengumpul di Lapangan Bunyu DI Bunyu Island Kalimantan Utara oleh PT Pertamina EP.

“Sepanjang 2018 dapat terealisasi enam proyek hulu migas onstream (beroperasi) dengan total investasi US$ 346 juta serta dapat memberikan kontribusi tambahan produksi pada masa puncak total 34 ribu boepd,” tutur Wisnu.

Menurutnya, masih ada satu proyek lagi yang akan beroperasi di akhir tahun ini, yakni fasilitas produksi Lica di Blok Rimau, Sumatera Selatan. Proyek yang dikerjakan oleh PT Medco E&P Indonesia ini memiliki estimasi produksi puncak sebesar 3.700 bph.

Investor Daily, Page-9, Friday, Dec 14, 2018

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