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Friday, January 31, 2020

The Phase II IDD Project is Underway



PT Chevron Pacific Indonesia plans to work on an underwater oil and gas project or Indonesia Deepwater Development (IDD) phase II. However, the project has not yet been implemented because Chevron has not yet got a business partner.



Corporate Communication Manager of PT Chevron Pacific Indonesia Sonitha Poernomo said that his party through Chevron Rapak Ltd had already worked on the first phase of IDD in the form of developing the Bangka Field. The oil and gas field has been producing since August 2016. 

Indonesia Deepwater Development (IDD) phase II Chevron

    For the Phase II IDD project located in Gehem and Gendalo Field, the work was hampered because Chevron was still looking for strategic partners. Because there is a potential risk if the project is not economical. This means that the existence of these business partners to share risks.

The Phase II IDD project cannot compete for capital in the Chevron portfolio globally, "Sonitha said.

Unfortunately, Sonitha could not name the prospective partners who would collaborate with Chevron to work on the Phase II IDD project. But certainly, Chevron Rapak Ltd has obtained permission from the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) to open data in order to facilitate discussions regarding the identification of potential partners who are able to manage IDD projects.

"At the moment there is no final decision regarding the discussion," said Sonitha.

ENI Italy

SKK Migas Deputy for Operations Julius Wiratno said. Chevron has actually partnered with Eni, Tip Top, Pertamina Hulu Energi (PHE) and Mitra Muara Bakau in the Phase II IDD project. Since the Phase II IDD project schedule is always backward, there is a possibility that the economic value of this project will decrease.

So it's only natural that Chevron considers it. Not to mention the project is limited by termination in 2026/2027, "Maybe Chevron wants to share down to partners taking into account the economics of the project," said Julius.

Initially, SKK Migas projected that the Phase II IDD project could start production in 2024, before finally withdrawing to 2025. Chevron is still looking for strategic partners to share risks.

IN INDONESIA

Proyek IDD Tahap II Terancam Molor

PT Chevron Pacific Indonesia berencana menggarap proyek minyak dan gas bawah laut atau Indonesia Deepwater Development (IDD) tahap ll. Namun proyek tersebut belum juga terlaksana karena Chevron belum mendapatkan mitra bisnis. 

Manager Corporate Communication PT Chevron Pacific Indonesia Sonitha Poernomo mengatakan, pihaknya melalui Chevron Rapak Ltd sudah mengerjakan tahap pertama IDD berupa pengembangan Lapangan Bangka. Lapangan migas tersebut telah berproduksi sejak Agustus 2016 siIam. Untuk proyek IDD tahap II yang berada di Lapangan Gehem dan Gendalo, pengerjaannya terhambat karena Chevron masih mencari mitra kerja strategis. Pasalnya, ada potensi risiko jika proyek tersebut tidak ekonomis. Artinya keberadaan mitra bisnis ini untuk berbagi risiko.

Proyek IDD tahap II tidak dapat bersaing untuk mendapatkan modal dalam portofolio Chevron secara global,” kata Sonitha.

Sayangnya Sonitha belum bisa menyebutkan nama calon mitra yang akan bekerjasama dengan Chevron untuk mengerjakan proyek IDD tahap II. Namun yang pasti, Chevron Rapak Ltd sudah memperoleh izin dari Satuan Kerja Khusus Kegiatan Usaha Hulu Minyak dan Gas (SKK Migas) untuk membuka data dalam rangka memfasilitasi diskusi terkait identifikasi mitra potensial yang mampu mengelola proyek IDD.

”Pada saat ini tidak ada keputusan akhir mengenai diskusi tersebut,” kata Sonitha.

Deputi Operasional SKK Migas Julius Wiratno bilang. sebenarnya Chevron sudah bermitra dengan Eni, Tip Top, Pertamina Hulu Energi (PHE) dan Mitra Muara Bakau dalam proyek IDD tahap II. Berhubung jadwal proyek IDD tahap II selalu mundur, ada kemungkinan nilai keekonomian proyek ini semakin berkurang.

Jadi wajar apabila Chevron mempertimbangkannya. Belum lagi proyek tersebut dibatasi oleh terminasi pada tahun 2026/2027, ”Mungkin Chevron ingin share down ke mitra dengan memperhitungkan keekonomian proyek." ujar Julius. 

Awalnya, SKK Migas memproyeksikan proyek IDD tahap II bisa berproduksi pada 2024, sebelum akhirnya mundur menjadi tahun 2025. Chevron masih mencari mitra kerja strategis untuk berbagi risiko.

Kontan, Page-14, Thursday, Jan 23, 2020

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