Pertamina Kaji Pembelian Saham Proyek Grup Kalla

    PT Pertamina terus mematangkan kerjasama di proyek terminal LNG di Bojonegara, Banten. Terminal LNG tersebut merupakan proyek dari Salah satu anak usaha Kalla Group, yaitu PT Bumi Sarana Migas (BSM). Wakil Direktur Utama Pertamina, Ahmad Bambang bilang, saat ini pihaknya masih dalam proses perundingan dengan Bumi Sarana Mandiri. Salah satu item pembahasannya adalah keikutsertaan Pertamina di proyek tersebut dengan memiliki saham. Menurut Bambang proses pembicaraan bisnis masih berlangsung.

    Soalnya, ini terkait pembicaraan proyek bisnis yang cukup besar seperti proyek LNG Bojonegara. Apalagi Pertamina juga membutuhkan proyek tersebut untuk bisa memenuhi kebutuhan LNG bagi perusahaan pelat merah ini. Jadi karena juga butuh, kami maunya mempunyai saham juga di proyek tersebut. Salah satu pertimbangkan bisnis Pertamina bila ingin terlibat di proyek tersebut soal perhitungan dari nilai proyek tersebut yang ditaksir sekitar Rp 10 triliun.

    Selain itu, perusahaan energi ini juga harus memperhitungkan kepemilikan asing di proyek tersebut. Antisipasi defisit gas Yang jelas, kata Ahmad Bambang, pihaknya masih berunding dengan berbagai pemangku kepentingan di proyek tersebut untuk menentukan besaran saham. Pilihannya beragam. Mulai dari komposisi saham dari masing-masing pemangku kepentingan, antara Bumi Sarana Migas, Pertamina dan perusahaan asal Jepang. Atau juga dengan opsi Seluruh saham Pertamina kuasai.

    Ada lagi pilihan Pertamina tetap menggandeng Bumi Sarana Migas tapi tidak menyertakan pihak Jepang. Melihat pilihan komposisi saham yang terbilang banyak tersebut, Bambang menyebutkan kemungkinan proses perundingan bakal berlangsung lama. Bambang menegaskan hingga saat ini Pertamina dan BSM belum mencapai kesepakatan baik dalam kepemilikan saham maupun sebagai pembeli atau offtaker terminal LNG Bojonegara tersebut.

    Vice President Corporate Communication Pertamina, Wianda Pusponegoro menyatakan, hingga kini belum ada kontrak mengikat antara Pertamina dengan Bumi Sarana Migas tersebut. Apalagi sebagai offtaker. Belum ada kesepakatan terkait hal-hal tersebut. Juru bicara PT Bumi Sarana Migas Nanda Sinaga membantah telah terjadi kesepakatan kerjasama antara Bumi Sarana Migas dengan Pertamina. Kalau ada update pasti ada penjelasan dari Kalla Group dan Pertamina.

    Kalla Group melalui Salah satu anak perusahaannya PT Bumi Sarana Migas (BSM) sudah siap membangun proyek fasilitas regasifikasi gas alam cair atau Land based LNG /receiving and regasifiation terminal berkapasitas 500 mmscfd atau kurang lebih 4 juta ton di Bojonegara, Banten. Bila tidak ada halangan, proyek ini siap berjalan di awal tahun 2017 mendatang. Proyek senilai Rp 10 triliun tersebut rencananya bisa terpenuhi dari setoran modal para pemegang saham serta dari pinjaman Jepang dalam hal ini adalah Lembaga Keuangan Pemerintah Jepang serta perbankan asal negeri matahari terbit tersebut.

    Proyek ini dibangun untuk mengantisipasi ancaman defisit gas di Jawa bagian Barat. Berdasarkan data dari Kementerian ESDM dan kajian Wood MacKenzie mengenai proyeksi suplai gas tahun 2013 sampai dengan tahun 2030, Jawa bagian Barat, akan mengalami defisit neraca gas karena berkurangnya cadangan gas dari Sumatera. Juga meningkatnya permintaan terhadap sumber energi itu.


IN ENGLISH

Pertamina Learn Stock Purchase Project Kalla Group

    PT Pertamina continues to finalize the cooperation in the LNG terminal project in Bojonegoro, Banten. The LNG Terminal is a project of One Kalla Group subsidiary, namely PT Bumi Sarana Migas (BSM). Deputy CEO, Ahmad Bambang said, the company is still in the process of negotiating with the Earth Sarana Mandiri. One discussion item Pertamina's participation in the project with own shares. According to Bambang business talks process is still ongoing.

    You see, this conversation related business projects such as the LNG project is large enough Bojonegara. Moreover, Pertamina also requires the project to meet the needs LNG for SOEs. So therefore also needs, our wants also has stakes in the project. One business Pertamina consider before getting involved in the project about the calculation of the value of the project is estimated at around Rp 10 trillion.

    In addition, energy companies must also take into account the foreign ownership in the project. Anticipation gas deficit Clearly, Ahmad said Bambang, the company is still negotiating with various stakeholders in the project to determine the amount of shares. The choice is varied. Starting from the stock composition of each stakeholder, between Earth Means Migas, Pertamina and a Japanese company. Or also with the option shares are mastered Pertamina.

    There is another option still holding Pertamina Bumi Sarana Migas but does not include the Japanese side. View a selection of the composition of the stock is fairly a lot, Bambang said the possibility of the negotiation process will be long. Bambang confirmed until now Pertamina and BSM have not reached an agreement either in ownership or buyer or offtaker Bojonegara the LNG terminal.

    Vice President Corporate Communications of Pertamina, Wianda Pusponegoro states, until now no binding contract between Pertamina and the Oil and Gas Facility Earth. Moreover, as a taker. There has been no agreement on such matters. PT Bumi Sarana spokeswoman Nanda Migas Sinaga denied there was an agreement of cooperation between the Earth Means Migas and Pertamina. If there is an update must be an explanation of Kalla Group and Pertamina.

    Kalla Group through one of its subsidiaries PT Bumi Sarana Migas (BSM) project is ready to build liquefied natural gas regasification facility or Land-based LNG / receiving and regasifiation terminal with a capacity of 500 MMSCFD or approximately 4 million tons in Bojonegara, Banten. If there are no obstacles, the project is ready to run at the beginning of the year 2017. Projects worth Rp 10 trillion are planned to be met from capital injection from shareholders and loans from Japan in this regard is the Japanese Government Financial Institutions and banks from the land of the rising sun.

    This project was built to anticipate the threat of a gas deficit in the western part of Java. Based on data from the Ministry of Energy and Wood MacKenzie study on the projected supply of gas in 2013 to 2030, western Java, will experience gas deficit due to declining gas reserves of Sumatra. Also the increased demand for energy sources.

Kontan, Page-14,Wednesday, Nov,23,2016

Finally, BP released the Sanga Sanga oil block

    Finally, BP's shares in the Sanga Sanga Convensional Block in Kutai Kertanegara, East Kalimantan, became the property of PT Saka Energi Indonesia. BP divested all of its shares in the oil and gas block operated by the Virginia Indonesia Company (VICO).

Blogger Agus Purnomo in SAKA Energi

    BP has not denied that the cooperation contract contractor (KKKS) of the Sanga Sanga Conventional Block has been an important part of their business portfolio. But now it is no longer in line with the company's long-term strategy, said BP Indonesia Head of Country Dharmawan Samsu.

BP

    It's just not know the value of the sale of these shares. To be sure, BP's share in the Sanga Sanga Conventional Block is 26.25%.

the Sanga Sanga Conventional Block

    PT Saka Energi Indonesia Operations Director Tumbur Parlindungan was reluctant to share detailed information. Let BP talk about the announcement later, we don't want to go into it.

Blogger Agus Purnomo in SKK Migas

    Deputy Head of the Upstream Oil and Gas Special Task Force (SKK Migas), Zikrullah, admitted that he had not yet received an official report on the sale and purchase of these shares. The Director-General of Oil and Gas at the Ministry of Energy and Mineral Resources I Gusti Nyoman Wiratmaja Puja.

    The sale of shares in the Sanga Sanga Block did not immediately result in BP leaving East Kalimantan. BP still maintains 50% participation in the oil and gas block KKKS in the Coal Bed Methane (CBM) working area, which is located adjacent to the Sanga Sanga Block. 

    Meanwhile, in other locations, BP has other business assets such as Tangguh LNG in Bintuni Bay, West Papua. Indonesia remains a major region for BP, said Dharmawan.

Kontan, Page-14, Wednesday, Nov 23, 2016

Believed To Be Able To Secure Domestic Gas Supply

    

    Strategic Bojonegara Refinery Megaproject to Secure Domestic Gas Supply. The mega-project Land-Based LNG (Liquefied Natural Gas) Receiving and Regasification Terminal that will be built by PT Pertamina with the Kalla Group business unit, namely PT Bumi Sarana Migas (BSM), is considered to increase Indonesia's ability to secure domestic gas supplies, especially West Java. 

the Kalla Group

        

    The integrated energy facility complex will be located in Bojonegara District, Serang, Banten with an investment of around Rp 10 trillion. This could be a part of the planning of a national energy security system.

Pertamina

    This cooperation is also a long-term solution to the fulfillment of domestic gas (LNG), said 98 Institute Executive Director Sayed Junaidi Rizaldi. He explained that the appointment of Pertamina as the only buyer (off-taker) for the refinery product indicated that the company could play an important role in the future supply of gas (LNG). Now, it only remains to be monitored jointly by the business system, whether it is transparent and open. Most importantly, Pertamina as a state-owned company should not suffer losses.

    He added that apart from Pertamina and PT BSM, the refinery construction mega-project also involves foreign companies, namely Tokyo Gas and Mitsui. On the one hand, Sayed also hopes that Pertamina can become the operator in the mega-project for the construction of the integrated energy refinery. 

Wianda Pusponegoro

    The reason is simple, Pertamina is very experienced in managing refineries. All large-scale refineries in Indonesia are operated by Pertamina. Previously, Pertamina spokesperson Wianda Pusponegoro once commented that the company was very ready to become an off-taker in the megaproject as long as it was included in share ownership.

    For information, this integrated energy terminal complex will be filled with LNG and regasification receiving terminals, new oil refineries, and PLTGU with a capacity of 1,000 MW to 2,000 MW. The entire project is built outside of Pertamina's planning map, or outside the Refinery Development Master Plan (RDMP) program for four existing refineries and two new Grass Root Refinery (GRR) refineries. 

    In addition, the construction of the PLTGU in the complex is also outside the Electricity Supply Business Plan (RUPTL) owned by PT PLN from 2016 to 2025. Megaproye is now expected to be operational in 2020, where the LNG receiving terminal facility can run first.

    In the first phase, the LNG terminal capacity will be 500 MMscfd. However, the capacity will be enlarged to 1,000 MMscfd in the second phase. Based on Pertamina's data, West Java has experienced a gas deficit of 315 MMscfd in 2015. This figure is projected to increase threefold to 962 MMscfd in 2025. Nationally, Indonesia is predicted to experience a gas deficit of 1,013 MMscfd in 2015. This deficit will increase to 3,206 MMscfd. by 2025.

Harian Bangsa, Page-4, Wednesday, Nov 23, 2016

Saatnya Menggenjot Eksplorasi untuk Temukan Cadangan Baru

    Minyak bumi merupakan salah satu sumber daya alam (SDM) yang menjadi kekayaan Indonesia. Kegiatan eksplorasi dan eksploitasi yang dilakukan untuk menggali dan memanfaatkan surnber daya alam ini juga telah berlangsung di Indonesia sejak beberapa dekade lalu. Namun apakah benar Indonesia saat ini masih tergolong sebagai negara yang kaya minyak? Berdasarkan data BP Statistical Review of World Energy Juni 2016, total cadangan minyak terbukti yang ada di Indonesia pada akhir 2015 terhitung sebesar 3,6 miliar barel.

    Sepintas, angka tersebut memang terlihat besar. Namun apabila dibandingkan dengan total cadangan minyak dunia yang berkisar 1,7 triliun barel, Cadangan minyak terbukti yang dimiliki Indonesia terbilang kecil, yakni hanya 0,2 persen. Tidak tepat apabila menyebut Indonesia sebagai negara kaya minyak karena jumlah cadangan minyak yang telah terbukti hanya 0,2 persen dari total cadangan minyak dunia, kata Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), Amien Sunaryadi.

    Selain tidak terlalu besar, cadangan minyak Indonesia terus mengalami penurunan. BP Statistical Review of World Energy mencatat bahwa cadangan minyak Indonesia pada akhir 1995 mencapai 5 miliar barel. Jumlah tersebut semakin susut menjadi 4,2 miliar barel pada akhir 2005 dan terus menurun hingga sekarang. Berbagai kegiatan eksplorasi yang dilakukan di Indonesia memang berhasil menemukan cadangan minyak baru. Hanya, tidak seluruh temuan tersebut memiliki nilai keekonomian untuk dikembangkan.

    Tidak jarang, biaya operasi untuk mengangkat minyak ke permukaan bumi lebih besar dibanding pendapatan yang diterima setelah minyak diproduksikan. Mengingat kian terbatasnya cadangan minyak serta makin bertambahnya konsumsi bahan bakar minyak, perlu sebuah kebijakan maupun langkah strategis agar ketahanan energi nasional tetap terjaga.

    Apalagi pemerintah masih menetapkan minyak bumi sebagai salah satu sumber energi utama dalam bauran energi primer yang di susun untuk mewujudkan ketahanan dan kemandirian energi di masa depan. Pelaksanaan kegiatan eksplorasi pun terus didorong guna menemukan cadangan baru agar volume cadangan minyak Indonesia tidak merosot tajam. Kegiatan ini membutuhkan dukungan semua pihak. Sinergi antara sektor hulu migas dengan seluruh pihak yang terkait dalam kegiatan eksplorasi memungkinkan terwujudnya ketahanan energy nasional.

IN ENGLISH

It's time to boost exploration for Discover New Backup
    Petroleum is one of the natural resources (HR) is a wealth of Indonesia. Exploration and exploitation activities were undertaken to explore and exploit natural resources surnber has also been taking place in Indonesia since a few decades ago. But is it true that Indonesia is still classified as a country rich in oil? Based on data from the BP Statistical Review of World Energy June 2016, total proven oil reserves in Indonesia at the end of 2015 accounted for 3.6 billion barrels.

    At first glance, these numbers do look great. However, when compared with the world's total oil reserves in the range of 1.7 trillion barrels of proven oil reserves are owned by Indonesia is small, with only 0.2 percent. Not appropriate to call Indonesia as oil-rich countries because of the amount of oil reserves that have been proven to only 0.2 percent of total world oil reserves, said the Head of Special Unit of Upstream Oil and Gas (SKK Migas), Amien Sunaryadi.

    Besides not too big, Indonesia's oil reserves continue to decline. BP Statistical Review of World Energy noted that Indonesia's oil reserves at the end of 1995 reached 5 billion barrels. That number more shrinkage to 4.2 billion barrels at the end of 2005 and continued to fall until now. Various exploration activities conducted in Indonesia did manage to find new oil reserves. Only, not all of these findings have economic value to be developed.

    Not infrequently, the cost of operation to lift the oil to the surface of the earth is greater than the income received after the oil produced. Given the increasingly limited oil reserves and the increase of fuel consumption, need a policy and strategic step that the national energy security is maintained.

    Moreover, the government has set petroleum as a source of primary energy in the primary energy mix is ​​collated to create resistance and energy independence in the future. Implementation of exploration activity continues to be encouraged to find new reserves so that the volume of Indonesia's oil reserves are not fallen sharply. These activities require the support of all parties. The synergy between upstream oil and gas sector with all parties involved in the exploration activities have enabled the creation of national energy security.

Duta Masyarakat, Page-16,Wednesday, Nov,23,2016

Hindari Krisis Revisi UU Mgas Harus Bergegas

    Menjelang berakhirnya Program Legislasi Nasional (Prolegnas) 2016, penyelesaian revisi Undang-Undang 22/2001 (UU Migas) tidak kunjung menunjukkan progres signifikan. Padahal, beragam kebijakan penting terkait dengan tata kelola migas sebagai upaya menghindari krisis energi nasional bergantung pada rancangan UU migas baru yang sudah dibahas di parlemen sejak 2010 itu. Pembahasan sudah terlalu lama. Tidak ada lagi alasan bagi DPR untuk menunda (penyelesaiannya).

    Tata kelola migas kita masih mengacu ke UU Lama yang sangat liberal. Ini berbahaya karena ruang bagi asing sangat besar, sedangkan perusahaan migas Nasional Pertamina Tertekan. Menurut pengamat migas Universitas Gajah mada Fahmy Radhi, Pertamina harus diperkuat sebagai National Oil Company (NOC) dalam penguasaan dan pengusahaan wilayah kerja migas di Tanah Air. Salah satunya dengan menata sektor hulu terkait dengan status Satuan Kerja Khusus Pelaksana Keglatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas).

    Sebaiknya SKK Migas dilebur ke Pertamina. Kalau SKK Migas dibentuk menjadi BUMN khusus, hanya berperan sebagai cost center, bukan profit center layaknya BUMN. Namun Pertamina juga harus diperkuat fungsi dan kelembagaannya sebagai regulator yang mengontrol operator agar tidak terjadi konflik kepentingan. Sebaliknya, Kepala SKK Migas Amien Sunaryadi mengusulkan transformasi SKK Migas dalam RUU Migas dilakukan dengan menjadikannya badan usaha khusus (BUK), bukan BUMN khusus.

    BUK menerima konsesi migas dari pemerintah kemudian membuat kontrak kerja sama (KKS) dengan investor. Status SKK Migas yang sementara segera dipermanenkan untuk memberi kepastian bagi investor guna menjaga kegiatan eksplorasi dan produksi. Koordinator Publish What You Pay (PWYP) Maryati Abdullah mendesak revisi UU Migas paling lambat akhlr 2016, Bila tidak selesai, Presiden perlu mengeluarkan peraturan pemerintah pengganti Undang-Undang (perppu).

IN ENGLISH

Avoid Crisis revised Law on Oil and Gas Must Rushing

    Toward the end of the National Legislation Program (Prolegnas) in 2016, the completion of the revision of Law 22/2001 (Gas Law) has not show significant progress. In fact, a variety of important policies related to the governance of oil and gas in an attempt to avoid national energy crisis depend on new oil and gas draft law which has been discussed in the parliament since 2010. The discussion has been too long. There is no longer any reason for the Parliament to postpone the (settlement).

    Governance of the oil and gas we still refer to the Old Law was very liberal. This is dangerous because the space for a very large foreign, while national oil and gas company Pertamina Depressed. According to the University of Gajah Mada oil and gas analyst Fahmy Radhi, Pertamina must be strengthened as the National Oil Company (NOC) in the control and operation of oil and gas working areas in the country. One of them by arranging upstream sector related to the status of Special Implementation Task Force Keglatan Upstream Oil and Gas (SKK Migas).

    Preferably SKK Migas merged into Pertamina. If SKK Migas formed into a special state enterprises, only serves as a cost center, not a profit center like SOE. However, Pertamina should also be strengthened and institutional functions as a regulator that controls the operator in order to avoid conflicts of interest. Instead, head of Oil and Gas Amien Sunaryadi SKK SKK Migas proposed transformation in oil and gas bill is done by making a special business entity (SBE/BUK), no state-owned special.

    SBE/BUK receive oil and gas concessions from the government then made a cooperation contract (PSC) with the investor. SKK Migas temporary status made permanent immediately to provide certainty for investors in order to keep the exploration and production activities. Coordinator of Publish What You Pay (PWYP) Maryati Abdullah urged revision of the Oil and Gas Law slowest akhlr 2016 If not completed, the President should issue a government regulation in substitute of Law (Perppu).

Media Indonesia, Page-17, Tuesday, Nov,22,2016

Pemerintah Segera Lelang Kilang Mini di Maluku

    Pemerintah akan membuka lelang pengerjaan proyek kilang berkapasitas di bawah 20 ribu barel per hari (bph) atau kilang mini di Maluku pada akhir bulan ini. Pembangunan kilang mini guna menjamin ketersediaan bahan bakar minyak, serta mengefisiensikan kegiatan hulu dan hilir migas. Pemerintah sebenarnya berencana melelang sejumlah kilang mini di beberapa wilayah di Indonesia. Namun, menurut Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) I Gusti Nyoman Wiratmaja, proyek kilang mini yang akan dilelang terlebih dahulu yakni yang berlokasi di Maluku atau Klaster VIII.

    Pasalnya, sejumlah investor telah menyatakan minatnya untuk menggarap proyek ini. Rencananya, terdapat dua lokasi proyek kilang mini yang akan ditawarkan, yakni di Blok Oseil dan Bula. Pemerintah membuka kesempatan seluas-luasnya bagi perusahaan nasional untuk ikut terlibat dalam proyek kilang mini ini. Sementara perusahaan asing dilarang berpartisipasi dalam pembangunan kilang mini. Hingga saat ini, ada sekitar tiga hingga lima investor yang telah menyatakan minatnya (membangun kilang mini). Namun dia tidak merinci siapa saja investor ini.

    Di Klaster VIII ini, sebutnya, pemerintah mencatat terdapat produksi minyak sekitar 3.000-3.500 bph. Apabila investor ingin membangun kilang dengan kapasitas yang lebih besar, investor diperbolehkan mengimpor minyak. Boleh beli juga dari tempat lain (impor) kalau mau membangun (kilang) yang kapasitasnya lebih besar. Pembangunan kilang mini mengacu pada Peraturan Menteri ESDM Nomor 22 Tahun 2016 tentang Pelaksanaan Pembangunan Kilang Minyak Skala Kecil di Dalam Negeri. Sesuai dengan aturan tersebut, pembangunan minyak skala kecil dapat dilakukan di dalam klaster atau di luar klaster yang ditetapkan oleh Dirjen Migas. Pembangunan kilang minyak skala kecil di dalam klaster, dapat dilakukan oleh Pemerintah atau badan usaha.

    Tata cara seleksi badan usaha dalam pembangunan kilang minyak skala kecil di dalam klaster ditetapkan oleh Dirjen Migas. Badan Usaha yang berminat melakukan pembangunan kilang minyak skala kecil di dalam klaster, wajib mengajukan permohonan minat kepada Menteri ESDM melalui Dirjen Migas dilengkapi persyaratan administratif dan teknis sesuai dengan ketentuan peraturan perundang-undangan. Dalam rangka meningkatkan kelayakan keekonomian, pelaksanaan pembangunan kilang minyak skala kecil bisa memperoleh fasilitas insentif fiskal maupun non fiskal sesuai dengan ketentuan peraturan perundang-undangan dan atau mengintegrasikan produksi produk petrokimia.

    Sementara untuk harga minyak bumi kilang mini ini akan ditetapkan formulanya oleh Menteri ESDM. Penetapan formula dilakukan dengan mempertimbangkan spesifikasi minyak bumi dan atau kondensat, perhitungan efisiensi kegiatan usaha hulu dan atau hilir, dan atau keekonomian kilang berdasarkan titik serah. Menteri ESDM dapat menetapkan formula harga yang berbeda terhadap suatu jenis minyak bumi dan atau kondensat pada setiap titik serah yang berbeda. Selain di Maluku, kilang mini juga akan dibangun di tujuh klaster lain. Untuk Klaster I, kilang mini akan dibangun di dekat Blok Rantau dan Pangkalan Susu di Sumatera.

    Selanjutnya, Klaster II di Blok Emo Malacca Strait dan Petroselat di Selat Malaka Panjang dan Klaters III di Blok Tonga, Sial, Pendalian, Langgak, dan West Area di Riau. Kemudian, lokasi kilang mini di Klaster IV yakni di Blok Palmerah, Mengoepeh Lemang, dan Karang Agung di Jambi. Sementara Klaster V di Blok Merangin III dan Ariodamar di Sumatera Selatan, Klaster VI di Blok Tanjung di Kalimantan Selarang, serta Klaster VII di Blok Bunyu, Sembakung, Mamburungun, dan Pamusian Juwata di Kalimantan Utara. Untuk klaster lainnya, baru akan ditawarkan pada 2017.

IN ENGLISH

Government Auctions Coming Mini Refineries in Maluku

    The government will call a tender plant project with a capacity of under 20 thousand barrels per day (bpd) or mini refinery in Maluku at the end of this month. Construction of mini refinery to ensure the availability of fuel oil, as well as streamline the upstream and downstream oil and gas activities. The government is actually planning to auction off a number of mini refinery in several regions in Indonesia. However, according to Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) I Gusti Nyoman Wiratmaja, mini refinery project that will be auctioned in advance which is located in Maluku or Cluster VIII.

    Because the number of investors have expressed interest in working on this project. According to the plan, there are two mini refinery project site that will be offered, namely in Block Oseil and Bula. The government opened the widest opportunity for national companies to get involved in this mini refinery project. While foreign companies are barred from participating in the construction of mini refinery. Until now, there are about three to five investors that have expressed interest (build a mini refinery). But he did not specify who these investors.

    Cluster VIII in this, he said, the government noted that there are approximately 3000-3500 barrels per day of oil production. If the investor wants to build a refinery with a larger capacity, the investor is allowed to import oil. May buy also from elsewhere (imports) if you want to build (refinery) capacity is greater. Construction of mini refinery refers to the Minister of Energy and Mineral Number 22 Year 2016 on the Implementation of Small Scale Oil Refinery Development in the Interior. Under the regulation, small-scale oil development can be done in clusters or outside the cluster established by the Director General of Oil and Gas. Development of small-scale oil refinery in the cluster, can be done by government or business entity.

    The procedure for the selection of business entities in the construction of small-scale oil refinery in the cluster designated by the Director General of Oil and Gas. Enterprises that wish to build an oil refinery in the cluster of small scale, shall apply interest to the Minister through the Director General of Oil and Gas include administrative and technical requirements in accordance with the provisions of the legislation. In order to improve the economic viability, the implementation of small-scale construction of oil refineries could be obtained fiscal and non-fiscal incentives in accordance with the provisions of the legislation and or integrating the production of petrochemical products.

    While the price of oil mini refinery will be set formula by the Minister. Determination of formula made by considering the specifications of oil or condensate, the calculation of the efficiency of business activities upstream or downstream, or the economics of the refinery by the handover point. Minister of Energy and Mineral Resources may set different prices formula to a particular type of oil or condensate at each transfer point is different. In addition to the Moluccas, mini refinery will also be built in seven other clusters. For Cluster I, mini refinery will be built near Block Rantau and Pangkalan Susu in Sumatra.

    Furthermore, Cluster II in Block Emo Malacca Strait and the Strait of Malacca Petroselat in length and Klaters Block III in Tonga, Shit, Pendalian, Langgak, and West Area in Riau. Then, the location of a mini refinery in Cluster IV; in Palmerah Block, Mengoepeh Lemang, and Karang Agung in Jambi. While Cluster V in Block Merangin III and Ariodamar in South Sumatra, Tanjung Block Cluster VI in Kalimantan Selarang, as well as the Cluster VII in Block Bunyu, Sembakung, Mamburungun, and Pamusian Juwata in North Borneo. For other clusters, will be offered in 2017.

Investor Daily, Page-9, Tuesday, Nov,22,2016

DPR Didesak Segera Rampungkan Revisi UU Migas

    Dewan Perwakilan Rakyat (DPR) didesak untuk segera menyelesaikan revisi Undang-Undang Nomor 22 Tahun 2001 tentang Minyak dan Gas Bumi. Pasalnya, pembahasan revisi beleid ini telah dimulai sejak 2010 ketika dicantumkan dalam daftar program Legislasi nasional (Prolegnas) DPR. Koalisi Masyarakat Sipil Publish What You Pay (PWYP) Indonesia mencatat, tahun 2016 menandai 12 tahun pasca terbitnya putusan Mahkamah Konstitusi No 002/PUU-I/2003 yang membatalkan sejumlah pasal dalam Undang-Undang Migas. Tahun ini juga merupakan empat tahun setelah terbitnya putusan Mahkamah Konstitusi No 36/PUU-X/2012 yang membubarkan Badan Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (BP Migas).

    Namun, meski DPR Periode 2014-2019 telah memasuki tahun ketiga, revisi beleid belum juga kelar. Anggota Badan Pengarah PWYP Indonesia Sulastio menyampaikan, terhentinya pembahasan revisi UU Migas sejalan dengan buruknya kinerja legislasi DPR yang sampai dengan 9 November 2016 hanya menyelesaikan sembilan undang-undang dari 50 yang ditargetkan, atau hanya sekitar 18% saja. Meski selalu masuk
Prolegnas, pembahasan revisi aturan ini terlihat hanya ala kadarnya. Tak hanya itu, prosesnya dinilai kurang transparan. Berdasarkan catatan Indonesia Parlianmentary Center (IPC) atau Koalisi Masyarakat Sipil untuk UU MD3, evaluasi atas proses Legislasi DPR RI untuk Masa Sidang V Tahun 2016 menunjukkan bahwa rapat pembahasan RUU Migas seluruhnya bersifat tertutup.

    Ruang partisipasi masyarakat dalam pembahasan RUU Migas sangat terbatas dan hanya melibatkan pihak secara terbatas, yaitu mitra dari pemerintah. Mengingat bahwa sektor migas adalah sektor strategis, yang rentan ditunggangi oleh kepentingan mafia minyak dan gas, sudah seharusnya proses-proses pembahasannya transparan dan partisipatif. Padahal, dia menilai masa sidang tahun ini merupakan momentum yang tepat untuk merampungkan revisi Undang-Undang Migas. Pasalnya, tahun 2016 ini sepi dari agenda politik seperti penyelenggaraan Pilkada dan persiapan Pemilu 2019.

    Pada 2017, DPR akan kembali disibukan dengan agenda politik nasional seperti target pemenuhan paket undang-undang politik dan persiapan penyelenggaraan Pemilu 2019. Koordinator Nasional PWYP Indonesia Maryati Abdullah menambahkan, percepatan revisi Undang-Undang Migas juga terkait dengan berbagai persoalan yang menuntut solusi yang sistemik, salah satunya ancaman nyata krisis energi pada 2025. Menurut data Dewan Energi Nasional (DEN), Indonesia diprediksikan membutuhkan energi 7,49 juta barel setara minyak per hari dengan 47% sumber energi dan migas. Sementara realisasi produksi migas saat ini masih jauh dari angka tersebut.

    Karenanya, Maryati meminta Pimpinan DPR untuk mendesak Komisi VII segera membahas revisi UU Migas. Pembahasan RUU migas adalah suatu kegentingan yang tidak boleh ditunda lagi. Komitmen DPR atas agenda pembahasan revisi UU Migas tidak boleh lagi hanya sebatas wacana, tetapi harus disertai dengan langkah nyata. Kami berharap setidaknya sampai akhir masa sidang ini sudah ada draft revisi UU Migas versi DPR untuk kemudian segera dibahas bersama-sama dengan Pemerintah.  Pada revisi Undang-Undang Migas ini, Pertamina diusulkan menjadi regulator, pengawas, dan operator kegiatan usaha hulu migas di Tanah Air, menggantikan peran Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas).

    Kewenangan perumusan kebijakan dan strategi tetap berada di Kementerian Energi dan Sumber Daya Mineral. Revisi UU Migas sangat mendesak untuk segera mengubah kelembagaan SKK Migas yang lebih sesuai dengan amanat UUD 1945 dan Keputusan Mahkamah Konstitusi. Menurut Fahmy, ada dua opsi yang bisa dipertimbangkan dalam merevisi fungsi kelembagaan SKK Migas. Opsi pertama, SKK Migas dijadikan sebagai BUMN Khusus dalam skema ‘tiga kaki’. Opsi kedua adalah menyerahkan fungsi dan kewenangan SKK Migas ke Pertamina dengan skema ‘dua kaki’. Dari dua skema ini, opsi ‘dua kaki’ paling menarik dan memiliki sejumlah kelebihan.

    Beberapa kelebihan opsi ‘dua kaki’ tersebut adalah skema Kementerian ESDM sebagai perumus kebijakan dan strategi serta Pertamina sebagai regulator, kontrol, dan operator. Pertama, Pertamina menjadi tulang punggung (backbone) negara dalam mengembang fungsi pengelolaan sumber daya migas. Kedua, Pertamina pengembang utama privilese yang diberikan pemerintah di sisi hulu (upstream). Ketiga, Pertamina memiliki kapitalisasi aset besar yang memberikan leverage di pasar internasional.

    Kelebihan lain dari opsi ‘dua kaki’ ini adalah Pertamina memiliki keleluasan dalam manajemen portfolio upstream. Fahmy mengungkapkan, bila tujuannya untuk memperkuat posisi Pertamina, BUMN yang 100 persen sahamnya dikuasai negara, sebagai representasi negara dalam pemanfaatan sumber daya migas bagi sebesarnya kemakmuran rakyat, opsi ‘dua kaki’ adalah pilihan tepat dibandingkan opsi ‘tiga kaki. Kelemahan opsi ‘dua kaki’ adalah berpotensi menimbulkan konflik kepentingan dalam menjalankan ketiga fungsi kewenangan.

    Untuk mengurangi adanya konflik kepentingan dalam menjalankan ketiga fungsi itu, revisi UU Migas juga harus mengatur adanya perusahan. Kewenangan regulator dan kontrol dilaksanakan oleh Pertamina sebagai holding migas, sedangkan fungsi operator dijalankan oleh anak perusahaan holding migas. Fahmy menegaskan, revisi UU Migas harus memperkuat posisi Pertamina sebagai National Oil Company (NOC) yang merupakan representasi negara dalam penguasaan dan pengusahaan lahan migas. Untuk itu, revisi UU Migas juga harus memberikan privilese kepada Pertamina. Privilese ini meliputi pemberian hak utama dalam penawaran lahan migas yang baru (new block offered), hak utama untuk mengakuisisi partisipasi interest (existing contract), dan hak utama untuk mengelola lahan yang kontraknya sudah berakhir.

IN ENGLISH

Parliament Urged Soon Completes Revised Gas Law

    House of Representatives (DPR) urged to complete the revision of Law No. 22 of 2001 on Oil and Gas. Because the discussion of the revision of this policy has been started since 2010 when the program included in the list of national legislation (Legislation) of the House. Civil Society Coalition Publish What You Pay (PWYP) Indonesia noted that 2016 marks 12 years after the publication of the Constitutional Court decision No. 002 / PUU-I / 2003 canceled a number of clauses in the oil and gas law. This year is also the four years after the publication of the Constitutional Court decision No. 36 / PUU-X / 2012 which dissolved the Executive Agency for Upstream Oil and Gas (BP Migas).

    However, despite the period of 2014-2019 Parliament has entered its third year, the revision of a regulation has not yet finished. Steering Board Member of PWYP Indonesia Sulastio deliver, cessation of the deliberations on the Oil and Gas Law in line with the poor performance of the DPR legislation until 9 November 2016 just finished nine laws of 50 targeted, or just about 18% only. Although always sign Prolegnas/Legislation, discussion of revision of this rule looks just perfunctory. Not only that, the process is considered less transparent. Based on the record Indonesia Parlianmentary Center (IPC) or the Civil Society Coalition for Law MD3, evaluation of the Parliament's Legislative Session Period V 2016 shows that the discussion meeting after the bill entirely clandestine.

    Space for public participation in the discussion after the bill is very limited and only involve a limited basis, which is a partner of the government. Given that the oil and gas sector is a strategic sector, which is vulnerable ridden by mafia interests of oil and gas, should the processes transparent and participatory discussion. In fact, he considered the period of this year's session is the right moment to finalize the revision of oil and gas law. Because the 2016 is devoid of the political agenda such as the organization of elections and the preparation of elections in 2019.

    In 2017, the House will return preoccupied with national political agenda as a targeted package of political legislation and preparation of election 2019. National Coordinator of PWYP Indonesia Maryati Abdullah added, accelerating the revision of oil and gas law is also associated with various problems that require systemic solutions, one of them is a real threat of an energy crisis in 2025. According to data from the National energy Council (DEN), Indonesia is predicted to require energy of 7.49 million barrels of oil equivalent per day by 47% of energy sources, oil and gas. While the realization of oil and gas production is still far from that number.

    Therefore, Maryati ask the House leadership to urge the Commission VII immediately discuss the revision of the Oil and Gas Law. Discussion of the oil and gas bill is an urgency that can not be postponed again. Parliament's commitment on the discussion agenda revision of oil and gas law may no longer just limited discourse, but must be accompanied by concrete steps. We expect at least until the end of this session already revised draft oil and gas law for the House version and then be discussed together with the Government. In the revised Law on Oil and Gas, Pertamina proposed as regulator, supervisor and operator upstream oil and gas activities in the country, replacing the role of Special Unit of Upstream Oil and Gas (SKK Migas).

    The authority of the formulation of policies and strategies remain in the Ministry of Energy and Mineral Resources. Revised Oil and Gas Law is very urgent to change the institutional SKK Migas more in line with the mandate of the 1945 Constitution and the Constitutional Court's decision. According to Fahmy, there are two options that can be considered in revising the institutional functions SKK Migas. The first option, SKK Migas serve as Special SOEs in the scheme of 'three feet'. The second option is to hand the functions and authority of SKK Migas Pertamina schemes 'two legs'. Of these two schemes, the 'two feet' most charming and has a number of advantages.

    Some of the advantages of the 'two feet' is a scheme the Ministry of Energy as a formulator of policy and strategy as well as Pertamina as a regulator, control, and operator. First, Pertamina become the backbone (backbone) in the state management function expands oil and gas resources. Second, the main developer Pertamina privileges given by the government on the upstream side (upstream). Third, Pertamina has a great asset capitalization which gives leverage in the international market.

    Another advantage of the 'two legs' are Pertamina has flexibility in the management of upstream portfolio. Fahmy said if the purpose is to strengthen the position of Pertamina, the state is 100 percent owned by the state, as a representation of the state in the utilization of oil and gas resources for sebesarnya prosperity of the people, the 'two feet' is the right choice compared to the 'three legs. The weakness of the 'two feet' is a potential conflict of interest in performing the three functions of the authority.

    To reduce the conflict of interest in performing the three functions of the revision of the oil and gas law must also manage their firms. The regulator's authority and control carried out by Pertamina as holding oil and gas, while the operator functions are run by a subsidiary of holding oil and gas. Fahmy stressed that the revision of oil and gas law must strengthen the position of Pertamina as the National Oil Company (NOC) that represent the country in the control and operation of oil and gas fields. Therefore, the revision of oil and gas law should also give privilege to Pertamina. This privilege includes the granting of major new oil and gas land deals (new block offered), the primary right to acquire a participation interest (existing contract), and the primary right to manage land whose contract has expired.

Investor Daily, Page-9, Tuesday, Nov,22,2016

ESDM akan Bikin Peraturan Menteri Dana Pasca Penambangan

    Kementerian Energi dan Sumber Daya Mineral (ESDM) sedang menyiapkan Peraturan Menteri (Permen) tentang kewajiban penyediaan dana pasca penambangan atau Abandonment and Site Restoration (ASR). Poin utamanya, kontraktor kontrak kerja sama (KKKS) baru yang berencana mengelola blok minyak dan gas (migas), Wajib menyedjakan dana ASR. Sebaliknya, KKKS lama yang tak lagi memiliki hak kelola atas sebuah blok migas, terlepas dari tanggung jawab tersebut. Karena hak dan kewajiban itu akan berpindah ke KKKS baru, termasuk kewajiban dana ASR itu, jadi kalau mau masuk atau membeli blok seharusnya sudah memperhitungkan," kata Susyanto, Sekretaris Direktorat Jenderal Minyak dan Gas Bumi.

    Kementerian ESDM mengaku, peraturan menteri sudah tersusun dalam bentuk rancangan. Selanjutnya, mereka akan membahas rancangan Peraturan Menteri bersama dengan SKK Migas. PT Pertamina berniat menjadi pengelola Blok East Kalimantan. Namun, BUMN tersebut menolak menanggung dana ASR dengan alasan kontrak lama blok migas tak mengatur ketentuan tersebut. Kalau memang pemerintah akan membuat Peraturan Menteri  di public service commission (PSC) baru ada ASR tidak masalah, karena kan itu sudah bagian dari PSC term,  kata Direktur Hulu Pertamina Syamsu Alam.

IN ENGLISH

ESDM/EMR will Makes Regulation of the Minister Post-Mining Fund
    Ministry of Energy and Mineral Resources (ESDM/ERM) is preparing a Regulation of the Minister (Beleid) on the obligation to provide post-mining funds or Abandonment and Site Restoration (ASR). The main point, cooperation contract (PSC) which plans to manage the block of oil and gas (oil and gas), Mandatory menyedjakan ASR funds. In contrast, the old PSC no longer has management rights on an oil and gas block, regardless of the responsibility. Due to the rights and obligations it will move to the new PSC, including the ASR fund liabilities, so if you want to enter or buy blocks should be take into account, "said Susyanto, Secretary of the Directorate General of Oil and Gas.

    The Ministry of Energy admitted, a ministerial regulation has been arranged in the form of the draft. Furthermore, they will discuss the draft regulation together with SKK Migas. PT Pertamina intends to become a manager of Block East Kalimantan. However, the state refused to bear the ASR fund on the grounds of the old contract oil and gas blocks do not regulate the provision. If the government would make the regulation in the public service commission (PSC) has no ASR is not a problem, because it is already part of the PSC term, said Pertamina Upstream Director Syamsu Alam.

Kontan, Page-14, Tuesday, Nov,22,2016

MEDC Acquisition of Two Subsidiaries ConocoPhillips Rp 3 Trillion

   It is clear how much money has been spent by PT Medco Energy Tbk (MEDC) to acquire ConocoPhillips Indonesia Inc. Ltd (CIL) and ConocoPhillips Singapore Operations Pte Ltd (CSOP). To take ownership of the two subsidiary companies of ConocoPhillips, Medco spent US $ 239 million. 

   When calculated in rupiah, the total acquisition value reaches more than Rp 3 trillion. This acquisition is divided into two separate transactions. The CIL acquisition value is the US $ 238 million, while the acquisition value of CSOP shares is the US $ 1 million.

    Medco acquisition, through its subsidiary, Medco Natuna. CIL is the beneficial owner of 40% participation of South Natuna Sea Block B (SNSB). Average CSop is a company that operates an onshore receiving facility in Singapore. In addition to getting the operating capability of offshore oil and gas integrated, this acquisition also strengthens our position, "said Fakhrini Nilamsari, Corporate Secretary MEDC. MEDC lately is diligent to make acquisitions.

    Previously, the family-owned issuers Arifin was official holds 50% ownership of PT Amman Mineral lnvestama, which has an 82.2% stake in PT Newmont Nusa Tenggara (NNT) with a value of US $ 2.6 billion acquisition. With the agenda, the automatic need for new sources of funding both to pay off previous debts in order to increase leverage as well as for capital requirements for assets recently acquired increased. In mid-September, MEDC issued bonds worth Rp 125 trillion.

    These bonds are part of the Sustainable Public Offering (PUB) II Phase II to total funds raised the target of Rp 5 trillion. These debt securities are divided into two series, namely Series A of Rp 284.1 billion with a fixed interest rate of 10.8% per annum and a term of three years. Then Series B worth Rp 208 billion with a fixed interest rate of 11.3% and a five-year tenure. Both bonds with a total of Rp 492 billion was secured with full capability (full commitment).

    Then, the remaining bonds amounting to Rp 758 billion will be secured with the best ability (best effort). MEDC will use the bond proceeds to pay down debt and capital expenditures. 60% of funds from the bond will be used to pay off the bonds I Medco in 2013 worth Rp 1.5 trillion. The bonds will mature in March 2018 with a coupon of 8.85%.

Kontan, Page-5, Tuesday, Nov, 22,2016

Oil and Gas Energy Crisis Stronger

Revised Law Oil certainly not be completed this year

     The threat of an energy crisis intensified after the slow revision of Law Number 22 the Year 2001 concerning Oil and Gas. Without the discovery of new reserves, Indonesia's oil reserves of around 3 billion barrels will be used up in less than 12 years. 

     Indonesia will really be in an energy crisis if new oil and gas reserves are not immediately found. With the current crude oil reserves of around 3 billion barrels, they will be used up in less than 12 years.

    In addition to the absence of new reserves, the rate of return on oil reserves in Indonesia is less than 50 percent. The rate of return ratio of oil reserves is less than 50 percent, meaning that for every barrel of oil that is drained, the discovery of new reserves is not more than half of the amount drained. 

     One root of the problem of oil and gas investment in Indonesia, said Maryati, is a legal protection that still has gaps in terms of planning, management, and supervision.

    The uncertain oil and gas upstream institutional model and the frequently changing rules make the upstream oil and gas investment climate in Indonesia tinged with uncertainty. It has an impact on oil and gas exploration in Indonesia that is less passionate. The revision process of Law Number 22 the Year 2001 concerning Oil and Gas which is expected to be a solution to the threat of an energy crisis is difficult to expect. 

     Until now, there is no clarity when the revision will be completed. Andang added that although Indonesia's oil reserves continue to shrink there is still an opportunity to increase the number of reserves through the enhanced oil recovery / EOR method.

    He suggested that this method be specifically regulated in the revision of Law No. 22 of 2001. According to him, petroleum technology continues to develop and if utilized optimally can help find new oil reserves. There is a potential of around 100 billion barrels. 

    Why not log in as a backup? Because there is no Plan Of Development (POD). Even if it already exists, it is still overshadowed by uncertainty. See the Masela Block, the problem is still around 13 years in the POD, "Andang said.

    He also suggested that the government be willing to open up oil and gas data and free the private sector to access the data. If the data is open to other parties, it can increase the interest of the private sector to explore. The openness of data as one way to increase exploration activities in Indonesia.

   Sulistio added, the cessation of the discussion of the revision of Law Number 22 of 2001 in Commission VII of the House of Representatives (DPR) showed the poor performance of legislation in the DPR. From the discussion of the DPR's revision, until 9 November 2016, the DPR had only completed 9 of the 50 laws targeted this year. He suspects that the Oil and Gas Mafia will benefit from the slow process of revising the law.

the Oil and Gas Mafia in Pertamina

    Revised discussion of revisions always enters the National Legislation Program which seems to be a priority. The fact is there is no solution. I am worried that next year it will also suffer the same fate because the concentration of the DPR is divided along with the simultaneous regional elections in 2017.

      Fahmy believes that the results of the revised discussion should give priority to state-owned enterprises (SOEs) to manage oil and gas resources in Indonesia. The priority is as a form of constitutional mandate in which natural resources are controlled by the state and managed for the sources of people's prosperity.

Satya Widya Yudha

    Nevertheless, BUMN is given the power to hold other parties. House of Representatives Commission VII member Satya Widya Yudha said that discussion of the revision of Law Number 22 of 2001 would not be possible this year. According to him the working committee or special committee for revision had not been formed in the plenary session. 

   At present, fuel consumption is much higher than the domestic production figure. Consumption reaches 1.6 million barrels per day with only 800,000 barrels of oil produced domestically and the rest imported.

    The government has acted quickly to add new oil and gas reserves through increased exploration. A number of auctions for oil and gas working areas this year turned out to be less attractive to investors. In addition to the low oil price factor, investors are also overshadowed by a bad investment climate, such as complicated licensing and taxation models that are considered less profitable.

Kompas, Page-17, Tuesday, Nov, 22,2016