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Showing posts with label Mubdala Petroleum. Show all posts
Showing posts with label Mubdala Petroleum. Show all posts

Friday, January 31, 2020

Mubadala Released 20% Participation Rights in 2 Oil and Gas Blocks



Mubadala Petroleum officially relinquished the participation rights or participating interest (PI) of 20% in Andaman I and South Andaman II block to Premiere Oil. Mubadala announced on Tuesday (01/21/2020) that the process of relinquishing the participation rights of the two blocks using the gross split production sharing contract had been approved by the Indonesian government.

Mubadala Petroleum

After the sale of Pl, Mubadala Petroleum holds 80% participating shares in Andaman I and South Andaman II, respectively. While Premiere Oil owns 20% in each of the oil and gas blocks.

Dr. Bakheet Al Katheeri

Director of Mubadala Petroleum Bakheet Al Katheeri said the release of participation rights in the two oil and gas blocks was an important step for them. The completion of the sale of shares was an important step for the company and for the exploration of the Andaman Block off the coast of Aceh and supported Mubadala Petroleum's growth strategy in Indonesia, said Katheeri in his official statement on Thursday (1/23/2020).

the Andaman Block Aceh

In addition to the two blocks, Mubadala has a 30% PI in the Andaman II Block managed by Premiere Oil. Thus, Mubadala holds ownership in three oil and gas blocks off the coast of Aceh.

This makes Mubadala the largest holder of oil and gas in the region. Mubadala holds an area that has not yet been explored, but has proven reserves in the North Sumatra basin for future exploration growth, Katheeri said.

The Andaman I Block cooperation contract was signed in April 2018. The investment commitment for this block is the US $ 2.1 million to carry out G & G activities and the acquisition of 3D seismic data of 500 square kilometers (km) and a signature bonus of US $ 750,000.

IN INDONESIA

Mubadala Lepas 20% Hak Partisipasi di 2 Blok Migas 

Mubadala Petroleum resmi melepas hak partisipasi atawa participating interest (PI) masing-masing sebesar 20% di Blok Andaman I dan South Andaman II kepada Premiere Oil. Mubadala mengumumkan pada Selasa (21/1/2020) lalu, proses pelepasan hak partisipasi dua blok yang menggunakan kontrak bagi hasil gross split ini telah mendapatkan persetujuan pemerintah Indonesia.

Setelah penjualan Pl, Mubadala Petroleum memegang saham partisipasi masing- masing sebesar 80% di Andaman I dan South Andaman II. Sementara Premiere Oil memiliki 20% di masing-masing blok migas tersebut. 

Direktur Utama Mubadala Petroleum Bakheet Al Katheeri mengatakan, pelepasan hak partisipasi di kedua blok migas merupakan langkah penting bagi mereka.Penyelesaian penjualan saham ini adalah langkah penting bagi perusahaan dan untuk eksplorasi Blok Andaman di lepas pantai Aceh dan mendukung strategi pertumbuhan Mubadala Petroleum di Indonesia, ujar Katheeri dalam keterangan resminya, Kamis (23/1/2020).

Selain kedua blok itu, Mubadala memiliki 30% PI di Blok Andaman II yang dikelola Premiere Oil. Sehingga, Mubadala memegang kepemilikan saham di tiga blok migas di lepas pantai Aceh. 

Hal ini menjadikan Mubadala sebagai pemegang area terluas migas di wilayah tersebut. Mubadala memegang wilayah yang masih belum dieksplorasi, tetapi memiliki cadangan terbukti di basin Sumatra Utara untuk pertumbuhan eksplorasi di masa depan, terang Katheeri. 

Kontrak kerja sama Blok Andaman I ditandatangani pada April 2018. Adapun komitmen investasi pada blok ini sebesar US$ 2,1 juta untuk melaksanakan kegiatan G & G dan akuisisi data seismik 3D 500 kilometer persegi (km) dan bonus tanda tangan sebesar US$ 750.000.

Kontan, Page-14, Friday, Jan 24, 2020

Mubadala Sold 20% of Shares in the Andaman I and South Andaman Blocks



Mubadala Petroleum has completed the sale of participating interest / PI shares by 20% in the Andaman I and South Andaman Blocks to Premiere Oil. Mubadala Petroleum has obtained the approval of the Government of Indonesia related to the sale of these shares.

Mubadala Petroleum

The oil and gas company from the United Arab Emirates released 20% ownership in the Andaman I and South Andaman blocks. After the sale of this PI, Mubadala Petroleum holds 80% participating shares in Andaman I and South Andaman II, while Premiere Oil owns 20% in each of the oil and gas blocks.


the Andaman Block Aceh

Director of Mubadala Petroleum Bakheet Al Katheeri said the release of shares in the two oil and gas blocks was an important step for the company.

Dr. Bakheet Al Katheeri

"The completion of the sale of shares is an important step for the company and for the exploration of the Andaman Block off the coast of Aceh, and supports Mubadala Petroleum's growth strategy in Indonesia," he said.

Mubadala Petroleum signed the Andaman I Block production sharing contract (PSC) in April 2018. At this time, Mubadala promised an investment commitment of US $ 2.15 million to carry out G & G activities and the acquisition of 500-kilometer (km2) 3D seismic data.
While the signature bonus paid the US $ 750 thousand. While the South Andaman Block contract was signed in February last year. The investment commitment promised by Mubadala Petroleum is US $ 2.15 million in the form of 500 km2 G & G and seismic activities. Furthermore, the signature bonus paid the US $ 2 million. The 3,548.69 km2 block has 1,243.37 billion cubic feet of gas reserves and 218.92 million barrels of oil.


On the other hand, still referring to Mubadala's official statement, the UAE oil and gas company also holds a 30% PI in the Andaman II Block operated by PremierOil. Thus, Mubadala holds ownership in three oil and gas blocks off the coast of Aceh. Mubadala is the largest oil and gas holder in the region.

"Thus, Mubadala holds an area that has not yet been explored but has proven reserves in the North Sumatra basin for future exploration growth," the official statement said.

In the past year, Mubadala has completed the 3D seismic acquisition in Andaman I, Andaman II, and South Andaman. Initial analysis of the 3D seismic data is still in progress. The Andaman II Block was won by the Consortium of Premiere Oil Far East Ltd, Kris Energy (Andaman II) BV, and Mubadala Petroleum (Andaman II JSA) Ltd in 2017.

Furthermore, this block PSC was only signed last year with a gross profit-sharing scheme (gross split). The ownership of shares in this oil and gas block is Premiere Oil 40%, Mubadala Petroleum 30%, and KrisEnergy 30%.

The consortium of Premier Oil Far East Ltd, KrisEnergy (Andaman II) BV, and Mubadala Petroleum (Andaman II JSA) Ltd promise a definite commitment for the first three years of G & G and 3D seismic activities covering an area of ​​1,850 square kilometers (km2) worth the US $ 7.55 million. While the signature bonus given is the US $ 1 million. The Andaman II Block has the potential to store gas reserves of 844.14 billion cubic feet and oil 196.53 million barrels.

In the official statement of Premiere Oil on its website, the oil and gas company has completed the 3D seismic acquisition in several oil and gas blocks, one of which is Andaman II. 

      This data will be used to finalize the identification of prospects on 2D seismic data, which shows a direct indication of hydrocarbons. Drilling is planned to be carried out in 2021. These assets in the Andaman Sea have the potential to supply gas in sufficient quantities to the range of trillions of cubic feet.

IN INDONESIA

Mubadala Jual 20% Saham di Blok Andaman I dan South Andaman

Mubadala Petroleum telah merampungkan penjualan saham participating interest/PI sebesar 20% di Blok Andaman I dan South Andaman ke Premiere Oil. Mubadala Petroleum telah memperoleh persetujuan Pemerintah Indonesia terkait penjualan saham ini. 

Perusahan minyak dan gas berasal dari Uni Emirat Arab tersebut melepas kepemilikan masing­masing 20% di Blok Andaman I dan South Andaman. Pasca penjualan PI ini, Mubadala Petroleum memegang saham partisipasi masing­masing sebesar 80% di Andaman I dan South Andaman II, sementara Premiere Oil memiliki 20% di masing­masing blok migas tersebut.

Direktur Utama Mubadala Petroleum Bakheet Al Katheeri mengatakan, pelepasan saham di kedua blok migas ini merupakan langkah penting bagi perusahaan. 

“Penyelesaian penjualan saham ini adalah langkah penting bagi perusahaan dan untuk eksplorasi Blok Andaman di lepas pantai Aceh, dan mendukung strategi pertumbuhan Mubadala Petroleum di Indonesia,” kata dia.

Mubadala Petroleum menandatangani kontrak kerja sama (production sharing contract/PSC) Blok Andaman I pada April 2018 lalu. Pada saat ini, Mubadala menjanjikan komitmen investasi sebesar US$ 2,15 juta untuk melaksanakan kegiatan G & G dan akuisisi data seismik 3D 500 kilometer perseri (km2). 

Sementara bonus tanda tangan yang dibayarkan US$ 750 ribu. Sementara kontrak Blok South Andaman diteken pada Februari tahun lalu. Komitmen investasi yang dijanjikan oleh Mubadala Petroleum sebesar US$ 2,15 juta berupa pelaksanaan kegiatan G & G dan seismik 3D 500 km2. Selanjutnya, bonus tanda tangan yang dibayarkan US$ 2 juta. Blok seluas 3.548,69 km2 ini memiliki cadangan gas 1.243,37 miliar kaki kubik dan minyak 218,92 juta barel.

Sebaliknya, masih mengacu keterangan resmi Mubadala, perusahaan migas UAE itu juga memegang PI 30% di Blok Andaman II yang dioperatori oleh PremierOil. Sehingga, Mubadala memegang kepemilikan saham di tiga blok migas di lepas pantai Aceh. Mubadala menjadi pemegang area migas terluas di wilayah ini.

“Sehingga, Mubadala memegang wilayah yang masih belum dieksplorasi tetapi memiliki cadangan terbukti di basin Sumatra Utara untuk pertumbuhan eksplorasi di masa depan,” demikian tertulis dalam keterangan resmi tersebut.

Pada tahun lalu, Mubadala telah merampungkan akuisisi seismik 3D di Andaman I, Andaman II, dan South Andaman. Analisa awal data­data seismik 3D tersebut masih dalam pengerjaan. Blok Andaman II dimenangkan oleh Konsorsium PremierOil Far East Ltd, Kris Energy (Andaman II) BV, dan Mubadala Petroleum (Andaman II JSA) Ltd pada 2017 lalu. 

Selanjutnya, PSC blok ini baru diteken pada tahun lalu dengan skema bagi hasil kotor (gross split). Kepemilikan saham di blok migas ini yakni Premiere Oil
40%, Mubadala Petroleum 30%, dan KrisEnergy 30%. 

Konsorsium PremierOil Far East Ltd, KrisEnergy (Andaman II) BV, dan Mubadala Petroleum (Andaman II JSA) Ltd menjanjikan komitmen pasti tiga tahun pertama berupa kegiatan G & G dan seismik 3D seluas 1.850 kilometer persegi (km2) senilai US$ 7,55 juta. 

    Sementara bonus tanda tangan yang diberikan US$ 1 juta. Blok Andaman II berpotensi menyimpan cadagan gas sebesar 844,14 miliar kaki kubik dan minyak 196,53 juta barel.

Dalam keterangan resmi Premiere Oil di lamannya, perusahaan migas tersebut telah merampungkan akuisisi seismik 3D di beberapa blok migasnya, salah satunya Andaman II. Data ini akan digunakan untuk memfinalisasi identifikasi prospek pada data seismik 2D, yang menunjukkan indikasi langsung hidrokarbon. 

    Pengeboran direncanakan akan dilakukan pada 2021. Aset di Laut Andaman ini memiliki potensi untuk memasok gas dalam jumlah cukup besar hingga kisaran triliun kaki kubik.

Investor Daily, Page-9, Friday, Jan 24, 2020

The RDMP of Balikpapan is Accelerated



State-owned oil and gas company PT Pertamina (Persero) is accelerating the operation of the East Kalimantan Kalimantan Balikpapan refinery development master plan (RDMP) while waiting for additional financial support from investors.

Monty Girianna

During a working visit to the RDMP Balikpapan construction area, the Deputy for the Coordinating of the Management of Natural Resources Energy and the Environment, the Coordinating Ministry for the Economy, Monty Girianna, said that the construction of the project had reached around 11.62%.

"The challenge might be to complete the work completed in the time before mid-2023, the refinery must be operational. With greater capacity and higher quality products, "he said.

Monty explained that until now the construction of the refinery is still going according to the initial plan, however there is still a need to accelerate efforts.

"Actually, completing the preparation of regulatory issues, regulatory issues, and land issues. For Balikpapan the land already exists, the infrastructure is already there, only the existing infrastructure is being repaired and then preparing new units, "he explained.

Monty said that compared to work on other refinery projects from Pertamina such as in Bontang, Tuban, and Cilacap, the RDMP Balikpapan progress was among the fastest. 

     From Gresik, Pertamina's Mega Project and Petrochemical Director Ignatius Tallulembang said that by the end of January, the construction of the Balikpapan RDMP was targeted to be a comprehensive 12%. According to him, the progress of Balikpapan refinery construction was due to an acceleration strategy.

For this year, Pertamina has prepared a budget of close to US $ 1 billion for the RDMP Balikpapan construction phase. Meanwhile, the source of investment funds for Balikpapan RDMP construction comes from internal funds.

"We are still able to issue the budget ourselves. The EPC target [engineering, procurement, and construction contracts] is above 25% until the end of 2020."

Mubadala Petroleum

He added that external financial support, one of which is Mubadala Corporation, will still be agreed on next April. Previously, Pertamina and Mubadala, investment companies from the United Arab Emirates signed a principle agreement or Refinery Investment Principle Agreement to further evaluate investment cooperation opportunities in the processing sector.

The agreement will provide a clear structure to ensure cooperation as a pathway to potential joint investment, one of which is to ensure the acceleration of the development of Balikpapan RDMP. 

Nicke Widyawati

    Pertamina President Director Nicke Widyawati explained, the signing of this agreement was a form of Pertamina and Mubadala's commitment as one of the investors who expressed interest in developing the RDMP Balikpapan.

According to Nicke, currently, Pertamina is still looking for equity investors (capital investment partners) to join in developing RDMP RU V Balikpapan. In November 2019, Pertamina has issued a Preliminary Information Memorandum to selected investors who have expressed their interest and commitment to the RU V Balikpapan RDMP project. The estimated investment needed for the project is around the US $ 5.5 billion.

The Phase I Balikpapan RDMP refinery is targeted to be operational in June 2023. Phase II is targeted to be completed in 2025-2026 and able to process
high sulfur crude oil.

PERTAMINA EP

Meanwhile, a subsidiary of Pertamina on the upstream side, Pertamina EP, admitted that in the last two years there has been an increase in production (incline) of oil and gas refineries, but these conditions have not been able to catch up with the natural decline rate. Pertamina EP President Director Nanang Abdul Manaf said that in a year at least the decline rate of blocks managed by Pertamina EP reached 30%. 

Meanwhile, in the last 2 years, there has been an increase in production (incline), from 79,700 barrels per day (BPD) in 2018 to 82,200 BPD in 2019. This means that there has been an increase in production by 2,500 BPD. Production in 2019 should be able to reach even higher, but because of the decline rate, the increase reached only 2,500 BPD. On the other hand, this year's Pertamina EP production target is set at 90,000 BPD.

"If the 90,000 BPD challenge is indeed hard, it's just because it has become a mandate for the constitution to pursue it that way," Nanang said at the hearing.
(RDP) between the House Commission VII and the 10 Cooperation Contractors (KKKS), in Jakarta.

According to him, to pursue the target Pertamina EP plans to drill 94 wells.

IN INDONESIA

Pengerjaan RDMP Balikpapan Dipercepat.

BUMN minyak dan gas bumi PT Pertamina (Persero) mempercepat pengerjan proyek pengembangan kilang (refinery development masterplan/ RDMP) Balikpapan Kalimantan Timur sambil menanti dukungan dana tambahan dari investor.

Dalam kunjungan kerja ke wilayah konstruksi RDMP Balikpapan, Deputi Bidang Koordinasi Pengelolaan Energi Sumber Daya Alam, dan Lingkungan Hidup Kementerian Koordinator bidang Perekonomian Monty Girianna mengatakan bahwa pengerjaan pembangunan proyek itu sudah mencapai sekitar 11,62%.

“Tantangannya mungkin menyelesaikan pekerjaan selesai dalam waktu sebelum tahun 2023 pertengahan, kilang harus sudah beroperasi. Dengan kapasitas yang lebih besar dan produk kualitas yang lebih tinggi," katanya.

Monty menjelaskan bahwa sampai saat ini pembangunan kilang masih berlangsung sesuai rencana awal, Akan tetapi masih perlu ada upaya percepatan.

“Sebetulnya menyekesaikan persiapan masalah peraturan, masalah regulasi, dan masalah lahan. Untuk Balikpapan lahan sudah ada, infrastruktur sudah ada, hanya yang diperbaiki eksisting infrastruktur dan kemudian menyiapkan unit-unit yang baru,” jelasnya.

Monty menuturkan bahwa dibandingkan pengerjaan untuk proyek kilang lain dari Pertamina seperti di Bontang, Tuban, dan Cilacap, progres RDMP Balikpapan termasuk yang paling cepat. 

     Dari Gresik, Direktur Mega Proyek dan Petrokimia Pertamina Ignatius Tallulembang mengatakan hingga akhir Januari, konstruksi RDMP Balikpapan ditargetkan menyeluruh 12%. Menurutnya, kemajuan konstruksi kilang Balikpapan terjadi karena adanya strategi percepatan.

Untuk tahun ini, Pertamina menyiapkan anggaran mendekati US$1 miliar untuk tahapan konstruksi RDMP Balikpapan. Adapun, sumber dana investasi untuk konstruksi RDMP Balikpapan berasal dari dana internal.

"Kami masih mampu sendiri mengeluarkan anggaran itu. Adapun target EPC [kontrak rekayasa, pengadaan, dan konstruksi] di atas 25% hingga akhir 2020.”

Dia menambahkan dukungan dana dari eksternal, salah satunya Mubadala Corporation, masih akan disepakati pada April mendatang. Sebelumnya, Pertamina dan Mubadala, perusahaan investasi berasal Uni Emirat Arab menandatangani perjanjian prinsip atau Refinery Investment Principle Agreement untuk mengevaluasi lebih lanjut peluang kerja sama investasi di sektor pengolahan.

Perjanjian tersebut akan memberikan struktur yang jelas untuk memastikan kerja sama sebagai jalur menuju investasi bersama yang potensial, salah satunya dalam rangka memastikan percepatan pengembangan RDMP Balikpapan. 

    Direktur Utama Pertamina Nicke Widyawati menjelaskan, penandatangan perjanjian ini merupakan bentuk komitmen Pertamina dan Mubadala sebagai salah satu investor yang menyatakan minat untuk pengembangan RDMP Balikpapan.

Menurut Nicke, saat ini Pertamina masih mencari equity investor (mitra investasi modal) untuk bergabung dalam mengembangkan RDMP RU V Balikpapan.

     Pada November 2019, Penamina telah mengeluarkan Preliminary Information Memorandum kepada investor terseleksi yang telah menyatakan minat dan komitmennya terhadap proyek RDMP RU V Balikpapan. Estimasi investasi yang diperlukan untuk proyek tersebut sekitar US$ 5,5 miliar.

Kilang RDMP Balikpapan Tahap I ini ditargetkan bisa mulai beroperasi pada Juni 2023. Tahap II ditargetkan selesai pada 2025-2026 dan mampu mengolah
minyak mentah kadar sulfur tinggi.

PERTAMINA EP

Sementara itu, anak usaha Pertamina disisi hulu yakni Pertamina EP mengaku dalam dua tahun terakhir telah terjadi peningkatan produksi (incline) kilang migas tetapi kondisi tersebut tidak mampu mengejar laju penurunan alamiah (decline rate). Presiden Direktur Pertamina EP Nanang Abdul Manaf menuturkan dalam setahun setidaknya besaran decline rate blok yang dikelola Pertamina EP mencapai 30%. 

    Adapun, dalam 2 tahun terakhir terjadi peningkatan produksi (incline) yakni dari 79.700 barel per hari (bph) pada 2018 menjadi 82,200 bph pada 2019. Artinya, ada kenaikan produksi sebesar 2.500 bph. Produksi pada 2019 seharusnya bisa mencapai lebih tinggi lagi, tetapi karena adanya decline rate, peningkatan yang tercapai hanya 2.500 bph. Di sisi lain, target produksi Pertamina EP tahun ini ditetapkan 90.000 bph.

“Kalau challenge 90.000 bph memang berat, hanya saja karena sudah jadi amanah konstitusi kita kejar ke arah sana,” kata Nanang dalam Rapat Dengar Pendapat (RDP) antara Komisi VII DPR dengan 10 Kontraktor Kontlak Kerja Sama (KKKS), di Jakarta.

     Menurutnya, untuk mengejar target tersebut Pertamina EP berencana melakukan pengeboran 94 sumur.

Bisnis Indonesia, Page-20, Wednesday, Jan 22, 2020

Thursday, January 30, 2020

Pertamina Teams Up With Investors to Build Refineries



PT Pertamina continues to explore cooperation with various parties to develop the oil and gas business. At present, the state-owned oil and gas company is working on the RU V Balikpapan Refinery Development Master Plan (RDMP) with an investment of US $ 5.5 billion. 


    Pertamina needs investors to fund around the US $ 1.6 billion of the total investment value. One investor who is willing to fund the Balikpapan Refinery project is Mubadala.

Mubdala Petroleum

PT Pertamina Corporate Communication Vice President Fajriyah Usman said that his side had cooperated with Mubadala not only in the refinery field but in the upstream oil and gas sector. Mubadala also has an oil and gas block in Indonesia. We are discussing this, "said Fajriyah Usman.

Fajriyah Usman

Mubadala is an oil and gas company from the United Arab Emirates that has an integrated business. This means that Pertamina can not only get funding from Mubadala but also a partner in developing the oil and gas block.

Fajriyah said the commitment to cooperate with Mubadala had been carried out in the United Arab Emirates (UAE) earlier this week. Pertamina has signed a principle agreement and refinery principle agreement to further evaluate investment cooperation opportunities in the processing sector.

The agreement will provide a clear structure and ensure cooperation as a pathway to potential joint investment. Well one of them is in order to ensure the acceleration of the development of RDMP RU V Balikpapan.

IN INDONESIA

Pertamina Gandeng Investor Untuk Membangun Kilang

PT Pertamina terus menjajaki kerjasama dengan berbagai pihak untuk mengembangaan bisnis minyak dan gas. Saat ini, perusahaan minyak dan gas milik pemerintah ini sedang menggarap proyek Refinery Development Master Plan (RDMP) RU V Balikpapan dengan investasi US$ 5,5 miliar. 

    Pertamina membutuhkan investor untuk mendanai sekitar US$ 1,6 miliar dari total nilai investasi tersebut. Adapun salah satu investor yang bersedia mendanai proyek Kilang Balikpapan adalah Mubadala.

Vice President Corporate Communitucion PT Pertamina Fajriyah Usman mengatakan pihaknya menjalin kerjasama dengan Mubadala bukan saja di bidang kilang tapi di hulu minyak dan gas. Mubadala juga punya blok migas di Indonesia. Kami sedang membicarakan hal ini," kata Fajriyah Usman.

Mubadala adalah perusahaan migas yang berasal Uni Emirat Arab yang memilki bisnis terpadu. Artinya, Pertamina selain bisa mendapatkan dana dari Mubadala sekaligus juga bermitra dalam pengembangan blok migas.

Fajriyah menyebutkan, komitmen kerjasama dengan Mubadala sudah dilakukan di Uni Emirat Arab (UEA) awal pekan ini. Pertamina sudah menandatangani perjanjian prinsip dan refinery principle agreement tuntuk mengevaluasi Iebih lanjut peluang kerjasama investasi di sektor pengolahan. 

Perjanjian tersebut akan memberikan struktur yang jelas dan memastikan kerja sama sebagai jalur menuju investasi bersama yang potensial. Nah salah satunya dalam rangka memastikan percepatan pengembangan RDMP RU V Balikpapan.

Kontan, Page-14, Friday, Jan 17, 2020

Mubadala, Pertamina Prospective Investor in Balikpapan Refinery Project



Mubadala Investment Company, a financial investment company from the United Arab Emirates (UAE), has the potential to become an investor in the Balikpapan Refinery Project which is managed by PT Pertamina (Persero). The investment needed for this project is estimated at the US $ 5.5 billion. 

Mubadala Investment Company

    Pertamina has signed a principle agreement or Refinery Investment Principle Agreement to further evaluate investment cooperation opportunities in the processing sector.

The agreement will provide a clear structure to ensure cooperation as a pathway to potential joint investment. This agreement is also a follow-up to the development of relations between Mubadala and Pertamina and Indonesia, which includes the upstream, processing and Petrochemical sectors.

Nicke Widyawati

Pertamina President Director Nicke Widyawati said the signing of this agreement was a form of Pertamina and Mubadala's commitment as one of the investors who expressed interest in developing the Balikpapan Refinery. The signing of this principle agreement is needed to continue the partnership process to the due diligence and negotiation stages.

"This shows the seriousness of the two parties to reach a business agreement in order to accelerate the construction of the Balikpapan Refinery, as mandated by the Government to Pertamina," said Nicke Widyawati.

According to Nicke, Pertamina is currently looking for Equity Investors (capital investment partners) to join in developing the Balikpapan Refinery East Kalimantan. The process began in May 2019, with the issuance of Project Teaser to prospective investors consisting of international oil and gas companies, trading companies and financial investors.

"After the teaser project was published, several investors have sent a Letter of Interest (LOI) to Pertamina and the next process will be a project sounding and a visit to the Balikpapan Refinery for interested investors," said Nicke.

According to Nicke, potential partners targeted for the Balikpapan Refinery Project are financial investment companies. This is because the project has entered the construction stage and there is already a tolling scheme. So that Mubadala is a financial investment company that has the potential to meet the criteria set by Pertamina.

"In addition, Mubadala is also considered to have technical competence that is expected to help Pertamina in project management," said Nicke Widyawati.

Previously, in November 2019, Pertamina had issued a Preliminary Information Memorandum to selected investors who had expressed their interest and commitment to the Balikpapan Refinery project.

The estimated investment needed for the project is around the US $ 5.5 billion. Until the end of November 2019, the construction progress of the Balikpapan Refinery has reached 9%, compared to the 6% plan. The Balikpapan Phase I refinery is targeted to be operational in June 2023.

At the same time, Pertamina has also prepared the Balikpapan Phase II Refinery Project. The basic design (basic engineering design / BED) of this project has been completed, and is now in preparation for the auction this year and then continues construction in the same year, 2020.

IN INDONESIA

Mubadala, Calon Investor Pertamina di Proyek Kilang Balikpapan

Mubadala Investment Company, perusahaan investasi keuangan dari Uni Emirat Arab (UEA), berpotensi menjadi investor dalam Proyek Kilang Balikpapan yang digarap PT Pertamina (Persero). Investasi yang dibutuhkan untuk proyek ini diperkirakan mencapai US$ 5,5 miliar. 

    Pertamina telah meneken perjanjian prinsip atau Refinery Investment Principle Agreement untuk mengevaluasi lebih lanjut peluang kerja sama investasi di sektor pengolahan.

Perjanjian tersebut akan memberikan struktur yang jelas untuk memastikan kerja sama sebagai jalur menuju investasi bersama yang potensial. Perjanjian ini juga merupakan tindak lanjut dari pengembangan hubungan antara Mubadala dan Pertamina dan Indonesia, yang mencakup sektor hulu, pengolahan, dan Petrokimia.

Direktur Utama Pertamina Nicke Widyawati menuturkan, penandatangan perjanjian ini merupakan bentuk komitmen Pertamina dan Mubadala sebagai salah satu investor yang menyatakan minat untuk pengembangan Kilang Balikpapan. Penandatanganan perjanjian prinsip ini diperlukan untuk melanjutkan proses kemitraan ke tahap uji tuntas dan negosiasi.

“Ini menunjukkan adanya keseriusan kedua belah pihak untuk mencapai kesepakatan bisnis dalam rangka mempercepat pembangunan Kilang Balikpapan, sebagaimana yang diamanahkan Pemerintah kepada Pertamina,” kata Nicke Widyawati.

Menurut Nicke, saat ini Pertamina sedang mencari Equity Investor (mitra investasi modal) untuk bergabung dalam mengembangkan Kilang Balikpapan. Proses tersebut dimulai sejak Mei 2019, dengan penerbitan Project Teaser kepada calon investor yang terdiri dari perusahaan minyak dan gas internasional, perusahaan perdagangan, dan investor keuangan.

“Setelah project teaser diterbitkan, beberapa investor telah mengirimkan Letter of Interest (LOI) kepada Pertamina dan proses selanjutnya akan dilakukan project sounding dan kunjungan ke Kilang Balikpapan bagi investor yang tertarik,” ujar Nicke.

Menurut Nicke calon mitra yang ditargetkan untuk Proyek Kilang Balikpapan adalah perusahaan investasi keuangan. Hal ini mengingat proyek telah memasuki tahapan konstruksi dan sudah ada skema tolling. Sehingga Mubadala merupakan salah satu perusahaan investasi keuangan yang berpotensi sesuai dengan kriteria yang ditetapkan Pertamina.

“Selain itu, Mubadala juga dipandang memiliki kompetensi teknis yang diharapkan dapat membantu Pertamina dalam hal manajemen proyek,” tutur Nicke Widyawati.

Sebelumnya, pada November 2019, Pertamina telah mengeluarkan Preliminary Information Memorandum kepada investor terseleksi yang telah menyatakan minat dan komitmennya terhadap proyek Kilang Balikpapan. 

Estimasi investasi yang diperlukan untuk proyek tersebut sekitar US$ 5,5 miliar. Hingga akhir November tahun 2019 lalu, progres konstruksi Kilang Balikpapan sudah mencapai 9%, dibanding rencana 6%. Kilang Balikpapan Tahap I ini ditargetkan bisa mulai beroperasi pada Juni 2023. 

Pada saat yang sama, Pertamina juga sudah menyiapkan Proyek Kilang Balikpapan Tahap II. Desain dasar (basic engineering design/BED) proyek ini sudah selesai, dan kini sedang dalam persiapan lelang pada tahun ini kemudian dilanjutkan konstruksi pada tahun yang sama yaitu 2020.

Investor Daily, Page-9, Friday, Jan 17, 2020

Monday, January 27, 2020

Minister of EMR Finalizes Collaboration with UAE



Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif held a working visit to Abu Dhabi, United Arab Emirates (UAE) on Saturday (11/1) to Tuesday (1/14). The work visit precedes the planned visit of President Joko Widodo (Jokowi) on Sunday (12/1) to witness the signing of several business cooperation agreements in the energy and mineral resources sector.

According to the Head of the Communication, Public Information Service and Cooperation Bureau of the Ministry of Energy and Mineral Resources, Agung, the signed business cooperation document will be exchanged at the United Arab Emirates Presidential Office, Qasr Alwatan and witnessed by the two heads of state. 



    During his visit, Minister Arifin had a meeting with the Minister of State of the United Arab Emirates, as well as the CEO of the Abu Dhabi National Oil Company (Adnoc). The meeting also discussed the exploration of cooperation between PT Pertamina with Adnoc and Mubadala.



"At present, all documents are brought by Adnoc and Mubadala. If both parties agree, a 12 January 2020 cooperation agreement will be signed in Abu Dhabi," Agung said.



In addition, the Minister of Energy and Mineral Resources has also witnessed the signing of the Addendum of Memorandum of Understanding (MoU) between Emirates Global Aluminum (EGA) and PT Indonesia Asahan Aluminum (lnalum) regarding technology transfer that will be beneficial in increasing mining production.

IN INDONESIA

Menteri ESDM Finaslisasi Kerjasama dengan UEA


Menteri Energi dan Sumber Daya Mineral (ESDM) Arifin Tasrif menggelar kunjungan kerja ke Abu Dhabi, Uni Emirat Arab (UEA) pada Sabtu (11/1) hingga Selasa (14/1). Adapun kunjungan kerja tersebut mendahului rencana kunjungan kenegaraan Presiden Joko Widodo (Jokowi) pada Minggu (12/1) untuk menyaksikan beberapa penandatanganan kerjasama bisnis di sektor energi dan Sumber daya mineral.

Menurut Kepala Biro Komunikasi, Layanan Informasi Publik, dan Kerjasama Kementerian ESDM Agung Pribadi, dokumen kerjasama bisnis yang telah ditandatangani itu akan dipertukarkan di lstana Kepresidenan Uni Emirat Arab, Qasr Alwatan dan disaksikan kedua kepala negara. 

    Dalam kunjungannya, Menteri Arifin sempat melakukan pertemuan dengan Minister of State Persatuan Emirat Arab, sekaligus CEO Abu Dhabi National Oil Company (Adnoc). Dalam pertemuan itu juga dibahas mengenai penjajakan kerjasama antara PT Pertamina dengan Adnoc dan Mubadala. 

"Saat ini semua dokumen dibawa oleh Adnoc dan Mubadala. Bila kedua pihak sepakat, akan dilakukan penandatangan kerjasama 12 Januari 2020 di Abu Dhabi," kata Agung.

Selain itu, Menteri ESDM juga telah menyaksikan penandatangan Addendum of Memorandum of Understanding (MoU) antara Emirates Global Aluminium (EGA) dan PT Indonesia Asahan Aluminium (lnalum) mengenai transfer teknologi yang akan bermanfaat dalam meningkatkan produksi pertambangan.

Kontan, Page-14, Monday, Jan 13, 2020

Thursday, January 16, 2020

Pertamina seeks UAE oil and gas company block



PT Pertamina (Persero) will explore the acquisition of oil and gas blocks owned by oil and gas companies from the United Arab Emirates, namely Abu Dhabi National Company (ADNOC) and Mubadala Petroleum. This corporate action is part of the plan of cooperation with the UAE which will be signed in the near future.

Nicke Widyawati

Pertamina President Director Nicke Widyawati said the acquisition of oil and gas blocks abroad is one of the company's strategies to boost oil and gas production. The oil and gas block targeted by the company is the oil and gas block that has produced oil and gas. This is to reduce the risk that must be borne by this state-owned oil and gas company.



"To reduce risk, we focus on acquisitions in oil and gas blocks that are already produced abroad, which we are exploring with Abu Dhabi (UAE). So that it will increase Pertamina's upstream oil and gas portfolio, "said Nicke Widyawati.

ADNOC

According to Nicke Widyawati, cooperation with UAE oil and gas companies covers the upstream and downstream oil and gas sectors. In the downstream sector, the company will work with oil and gas companies from the UAE, including Abu Dhabi National Company (ADNOC) and Mubadala Petroleum, to work on upgrading and upgrading projects for Balikpapan and Dumai refineries.

Mubadala Petroleum

"We are exploring [the acquisition of oil and gas blocks]. So with Abu Dhabi, we are working on the side of the refinery, and there is this partnership [upstream oil and gas], "Nicke explained.

This means that the oil and gas blocks that the company will acquire are owned by ADNOC or Mubadala. The official website of Mubadala Petroleum states that it has a number of major projects. 

     Some of them include the Dolphin Gas Project in the Middle East which is an energy source for Abu Dhabi, an enhanced oil recovery (EOR) project in Oman, the Zohr Raksana Gas Project in Egypt, and the GazpromneftVostok management cooperation for several oil and gas blocks in Russia .



While ADNOC, according to its official website, produces oil of 3 million barrels per day (BPD) of gas 9.8 billion cubic feet per day. ADNOC manages 11 oil and gas fields on land, including Bab, Asab, BU Hasa, and Al Dabbiya Fields. ADNOC is collecting appraisal well data from three undeveloped oil and gas blocks and reservoirs, to assess commercial values ​​and identify locations that are good to work on.

For offshore oil and gas blocks, ADNOC manages a number of assets, namely Umm Shaif Field, Lower Zakum, Upper Zakum, Satah, and Umm Al Dalkh. ADNOC is now focusing on developing the SARB, Nasr, Umm Lulu Fields and completing the UZ-750 island project in Upper Zakum. Other projects are optimization in Umm Shaif, Lower Zakum, Satah, and Umm Al Dalkh Fields.

In addition to the acquisition, Nicke continued, the increase in the company's oil and gas production was also carried out by increasing the performance of the oil and gas blocks that had been owned. 

     One of them is by carrying out EOR activities. Then, another way is to hold seismic activities to explore the potential of oil and gas in new areas. The obligation of exploration has been applied by the government since two years ago through the Definite Work Commitment (KKP).

IN INDONESIA

Pertamina Incar Blok Migas Perusahaan UEA


PT Pertamina (Persero) akan menjajaki akuisisi blok migas milik perusahaan migas asal Uni Emirat Arab, yakni Abu Dhabi National Company (ADNOC) dan Mubadala Petroleum. Aksi korporasi ini merupakan bagian dari rencana kerja sama dengan UEA yang akan ditandatangani dalam waktu dekat ini. 

Direktur Utama Pertamina Nicke Widyawati mengatakan, akuisisi blok migas di luar negeri merupakan salah satu strategi perseroan untuk mendongkrak produksi migasnya. Blok migas yang diincar oleh perseroan yakni blok migas yang telah menghasilkan migas. Hal ini guna mengurangi risiko yang harus ditanggung perusahaan minyak dan gas milik pemerintah ini.

“Untuk mengurangi risiko, kami fokus akuisisi di blok migas yang sudah produksi di luar negeri, yang kami jajaki dengan Abu Dhabi (UEA). Sehingga itu akan menambah potfolio hulu migas Pertamina,” kata Nicke Widyawati.

Menurut Nicke Widyawati, kerja sama dengan perusahaan migas UEA meliputi sektor hulu dan hilir minyak dan gas. Di sektor hilir, perseroan akan bekerja sama dengan perusahaan migas asal UEA, diantaranya Abu Dhabi National Company (ADNOC) dan Mubadala Petroleum, untuk mengerjakan proyek perbaikan dan peningkatan kapasitas (upgrading) Kilang Balikpapan dan Dumai.

“Kami jajaki [akuisisi blok migas]. Jadi dengan Abu Dhabi, bekerja sama di sisi kilang, dan ada kerja sama ini [hulu migas],” jelas Nicke. 

Artinya, blok minyak dan gas yang akan diakuisisi perseroan yakni milik ADNOC atau Mubadala.

Dalam laman resmi Mubadala Petroleum menyatakan memiliki sejumlah proyek utama. Beberapa diantaranya seperti Proyek Gas Dolphin di Timur Tengah yang merupakan sumber energi bagi Abu Dhabi, proyek pengurasan minyak tahap lanjut (enhanced oil recovery/EOR) di Oman, Proyek Gas Raksana Zohr di Mesir, dan kerja sama pengelolaan GazpromneftVostok untuk beberapa blok migas di Rusia. 

Sementara ADNOC, sesuai laman resminya, memproduksi minyak sebesar 3 juta barel per hari (bph) gas 9,8 miliar kaki kubik per hari. ADNOC mengelola 11 lapangan migas di darat, diantaranya Lapangan Bab, Asab, BU Hasa, dan Al Dabb’iya. ADNOC sedang  mengumpulkan data sumur appraisal dari tiga blok migas dan reservoir yang belum dikembangkan, untuk mengkaji nilai komersil dan mengidentifikasi lokasi yang
bagus untuk digarap. 

Untuk blok migas lepas pantai, ADNOC mengelola sejumlah aset, yaitu Lapangan Umm Shaif, Lower Zakum, Upper Zakum, Satah, dan Umm Al Dalkh. ADNOC kini sedang fokus mengembangkan Lapangan SARB, Nasr, Umm Lulu dan melakukan completion proyek pulau buatan UZ-750 di Upper Zakum. Proyek lainnya adalah optimasi di Lapangan Umm Shaif, Lower Zakum, Satah, dan Umm Al Dalkh.

Selain akuisisi, Nicke melanjutkan, peningkatan produksi migas perusahaan juga dilakukan dengan meningkatkan kinerja dari blok migas yang telah dimiliki. Salah satunya yakni dengan melaksanakan kegiatan EOR. Kemudian, cara lainnya yakni dengan menggelar kegiatan seismik guna megeksplorasi potensi migas di wilayah baru. Kewajiban eksplorasi telah diterapkan pemerintah sejak dua tahun lalu melalui Komitmen Kerja Pasti (KKP).

Investor Daily , Page-9, Monday, Dec 16, 2019