Pertamina eyes overseas acquisitions

State-owned oil and gas firm Pertamina seeks to acquire more overseas oil and gas blocks in a move to meet its sizeable production target by 2025. Pertamina’s upstream director Syamsu Alam said the foreign acquisitions would contribute around 33 percent to its overall production goal of 1.9 billion barrels of oil equivalent per day (boepd) in the next eight years.

The company has set up a presence in twelve countries across the globe.  Two new foreign blocks in Gabon and Nigeria have commenced a eyes overseas acquisition Pertamina has operations in 12 countries Company to acquire more blocks in countries where it already has presence production, adding to existing blocks in Algeria, Iraq and Malaysia. 

Seven others located in Canada, Colombia, France, Italy, Myanmar, Namibia and Tanzania are still under exploration. The foreign acquisitions would be carried out in countries where Pertamina currently had operations, Syamsu said, adding that the company also planned to expand its production facilities in

Malaysia and Algeria.

“The reason for the expansion to foreign oil and gas blocks is to ultimately strengthen our reserves and boost production. Gas and oil produced overseas will be brought back to Indonesia for processing to fulfill domestic demand,” he said during a Pertamina event in Cirebon, West Java, on Sunday.

Syamsu reiterated that Indonesia would need to maximize output from its energy assets to support annual domestic economic growth of more than 5 percent. While Pertamina aims to strengthen its foothold abroad, it is also pushing its oil and gas output at home by taking over operations at eight blocks next year after the expiration of production contracts, including the Sanga-sanga Block in East Kalimantan and the Offshore Southeast Sumatra (OSES) Block.

During the first quarter, Pertamina’s total oil production amounted to 318,000 barrels per day (bpd), while gas production settled at 1.9 million standard cubic feet per day (mmscfd), according to Pertamina’s upstream strategic planning and operations evaluation senior vice president Meidawati.

The oil rich Cepu Block in Central Java, which is operated by ExxonMobil Cepu Limited, contributed a sizeable amount of 88,000 bpd of oil. Significant overseas production hubs, such as Algeria, Malaysia and Iraq, meanwhile, provided 87,000 bpd of oil and 266 mmscfd of natural gas.

Pertamina produced 312 bpd of oil and 338 boepd of gas in 2016, slightly higher than the 278 bpd and 328 boepd achieved in 2015. For this year, it aims to generate 334 bpd of oil and 359 boepd of gas, bringing the overall production of 693 boepd, up from last year’s 650 boped. Even so, Syamsu noted, the production rate was still below expectations, and Pertamina needed to implement efficiency measures to address the issue.

“Even though oil and gas consumption is still high in Indonesia, production rates are steadily falling, and our reserves are also thinning out. There needs to be a restructuring of energy prices as well as technological innovation in order to achieve cost efficiency on our part,” he said.

Data from Pertamina and the Energy and Mineral Resources Ministry show that domestic oil demand could hit 1.6 million bpd by 2020. Pertamina’s revenue and profit from its upstream business reached highs of US$9.08 billion and $2.02 billion, respectively, in 2014, which was attributed to high global energy prices throughout that year. In 2016, its revenue fell to $6.27 billion, while its profit dropped to $980 million.

Jakarta Post, Page-15, Tuesday, April, 11, 2017

Oil and Gas Production 2017 Could Exceed Target

A subsidiary of PT Pertamina (Persero) which is engaged in upstream oil and gas industry, PT Pertamina EP, during the first kuartai 2017 showed positive achievements. Recorded until the end of March 2017, Pertamina EP oil production reached 80 727 barrels of oil per day (BOPD) or 95 percent of the target RKAP 2017 amounted to 85 thousand BOPD.

To PT Pertamina EP Gas production reached 961.6 MMSCFD or 93 percent of the target RKAP 2017 amounted to 1,041 MMSCFD. "Until the first quarter of this Thank God we can restrain the rate of decline natural production by 20 percent per year and maintain production levels in the range of 80 thousand BOPD and we are optimistic to meet the target of 2017 amounted to 85 thousand BOPD, "said Nanang Abdul Manaf PTH President Director of PT Pertamina EP, in discussions in Cirebon, Monday (10/4 ).

During the first three months of this, the dynamics of production from the field. Some courts also increased significantly with the efforts made to optimize production.

"Some of the field has increased significantly among others Jatibarang Field, which repair results obtained from wells or Job Re-Move Layer (KUPL) XA 09 wells offshore platform in the field of initial production rate XRAY in the range of 87 BOPD to 2781 BOPD ", said Nana.

In addition, the performance of Rantau Field also rnenunjukkan positive trend, Rantau Field production has increased from 2,100 at the beginning of 2017 BOPD to 2831 BOPD rnenjadi in early April 2017 with the achievement of 127 per cent against the target. Increased production of 731 BOPD obtained from five wells repair work and one well drilling.

Furthermore, Nana adds, Seismic performance also showed a positive trend. Until the end of March 2017, the realization of 2D Seismic run by PT Periamina EP reached 426 kilometers (km), or 48 percent of the target of 833 km, and for 3D seismic has been implemented 171 square kilometers or 26

percent of the target of 669 square kilometers.

"Our commitment, in addition to increasing the production also to maintain sufficient energy reserves; through seeking new reserves with aggressive conduct seismic and exploration activities. Hope we can find a large reserve potential or Big Fish so that the upstream oil and gas industry more excited, "said Nana.

IN INDONESIAN

Produksi Migas Bisa Lampaui Target 2017

Anak perusahaan PT Pertamina (Persero) yang bergerak di industri hulu migas, PT Pertamina EP, selama kuartai I 2017 menunjukkan kinerja yang cukup positif. Tercatat hingga akhir Maret 2017, tingkat produksi minyak Pertamina EP mencapai 80.727 barel minyak per hari (BOPD) atau sebesar 95 persen dari target RKAP 2017 sebesar 85 ribu BOPD.

Untuk produksi Gas PT Pertamina EP mencapai 961,6 MMSCFD atau sebesar 93 persen dari target RKAP 2017 sebesar 1.041 MMSCFD. “Sampai kuartal satu ini Alhamdulillah kami dapat menahan laju penurunan produksi alamiah sebesar 20 persen per tahun dan menjaga tingkat produksi pada kisaran 80 ribu BOPD dan kami optimistis untuk memenuhi target 2017 sebesar 85 ribu BOPD," kata Nanang Abdul Manaf PTH President Director PT Pertamina EP, dalam diskusi di Cirebon, Senin (10/4).

Selama kurun waktu tiga bulan pertama ini, terjadi dinamika produksi dari lapangan. Sejumlah lapangan pun mengalami peningkatan yang cukup signifikan dengan berbagai upaya yang dilakukan untuk optimalisasi produksi.

“Beberapa lapangan yang mengalami peningkatan signifikan antara lain adalah Jatibarang Field, yang didapatkan dari hasil reparasi sumur atau Kerja Ulang Pindah Lapisan (KUPL) Sumur XA 09 di lapangan lepas pantai Platform XRay dari awalnya tingkat produksi di kisaran 87 BOPD menjadi 2.781 BOPD”, kata Nanang.

Selain itu, kinerja Rantau Field juga rnenunjukkan tren positif, produksi Rantau Field mengalami kenaikan dari 2.100 BOPD pada awal tahun 2017 rnenjadi 2.831 BOPD pada awal April 2017 dengan pencapaian 127 persen terhadap target. Peningkatan produksi sebesar 731 BOPD didapatkan dari pekerjaan lima sumur reparasi dan satu sumur pemboran.

Lebih lanjut, Nanang menambahkan, kinerja Seismik juga menunjukkan tren yang positif. Hingga akhir Maret 2017, realisasi Seismik 2D yang dijalankan oleh PT Periamina EP mencapai 426 kilometer (km), atau 48 persen dari target sebesar 833 km, dan untuk seismik 3D sudah terlaksana 171 kilometer persegi atau 26 persen dari target sebesar 669 kilometer persegi. 

“Komitmen kami, selain untuk meningkatkan produksi juga untuk menjaga ketersediaan cadangan energi; melalui pencarian cadangan-cadangan baru dengan agresif melakukan kegiatan seismic dan eksplorasi. Harapan kami dapat menemukan potensi cadangan yang besar atau Big Fish sehingga industri hulu migas semakin bergairah," kata Nanang.

Harian Bangsa, Page-4, Tuesday, April, 11, 2017

Gross Split will go into the Oil and Gas Law Revision.

Until now, the revision of the Law on Mineral and Gas remains uncertain. But the government through the Ministry of Energy and Mineral Resources (ESDM) claimed to have had a proposal to insert into the Law.

One of them split gross scheme. "When it started, we will post a gross rules split into law," said Minister Ignasius Jonan, Sunday (9/4).

According to him, with a gross scheme split, all systems in the upstream oil and gas business can be run transparently. "We make the system. Everything is transparent," said Deputy Minister Arcandra Tahar.

He explained that the poor management of oil and gas industry during this time was not able to answer determination split in the production sharing contract alias production sharing contract (PSC) cost recovery scheme. In addition, the scheme cost recovery can not predict business risk in terms of time. Meanwhile, the gross changes in the rules on split stipulated in Minister of Energy and Mineral Resources No. 8 Year 2017.

Split gross scheme applied in Indonesia is the only one in the world. "Gross split exists in the world with another form. But the split is based on business risks only exist in Indonesia. In America by Royalty and tax. Taxes fixed royalty of its negotiations,"

IN INDONESIAN

Gross Split AKan Masuk ke dalam Revisi UU Migas.

Hingga saat ini, revisi Undang-Undang Mineral dan Gas masih terkatung-katung. Namun pemerintah melalui Kementerian Energi dan Sumber Daya Mineral (ESDM) mengaku telah memiliki usulan untuk di masukkan ke dalam UU tersebut. 

Salah satunya skema gross split. "Kalau sudah mulai, kita akan memasukkan aturan gross split ke dalam undang-undang," ujar Menteri ESDM Ignasius Jonan, Minggu (9/4).

Menurut dia, dengan skema gross split, semua sistem bisnis di hulu migas bisa berjalan secara transparan. "Kami membikin sistem. Semuanya transparan," kata Wakil Menteri ESDM Arcandra Tahar.

Ia menjelaskan, kelemahan manajemen industri migas selama ini adalah belum mampu menjawab penentuan split dalam kontrak bagi hasil alias procluction sharing contract (PSC) skema cost recovery. Selain itu, skema cost

recovery tidak bisa memprediksi risiko bisnis dari segi waktu. Adapun, perubahan aturan tentang gross split diatur dalam Peraturan Menteri ESDM No. 8 Tahun 2017.

Skema gross split yang diterapkan di Indonesia adalah satu-satunya di dunia. "Gross split ini ada di dunia dengan bentuk lain. Tapi yang split berdasarkan risiko-risiko bisnis hanya ada di Indonesia. Di Amerika berdasarkan Royalty and tax. Pajak fixed, royalti negosiasi," 

Kontan, Page-14, Tuesday, April, 11, 2017

Pertamina Focus Asset Acquisition in Iran and Russia

PT Pertamina began intensively to finalize the proposed acquisition of assets, both inside and outside the country. SOE has also been set aside about US $ 20 billion for the next 20 years plans. 

     PT Pertamina Upstream Director Syamsu Alam said his company is currently negotiating to acquire assets focused in two states, namely Iran and Russia. "We also are evaluating for other countries geopolitically possible for us to get in, "he said, during a visit to Pertamina Hulu Field Jatibarang, Monday (10/4).

Expansion related to Iran, Syamsu optimistic will win the tender to acquire two blocks in the country, namely the Ab-Teymour and Mansouri. At present, these two places are also being contested by Lukoil of Russia and Maersk of Denmark.

Syamsu admitted to Pertamina is the first company to submit a proposal to Iran. Technically, the proposal is describe in detail about the plan of development, investment plans and production plans.

Moreover, Joko Widodo President's visit to Iran some time ago that also explicitly said that the desire to have activities and assets to the President of Iran. This can strengthen the potential of Pertamina get the auction. As for assets in Russia, Pertamina is eyeing the block there with a production capacity of approximately 170,000 barrels per day (bpd).

IN INDONESIAN

Pertamina Fokus Akuisisi Aset di Iran dan Rusia

PT Pertamina mulai gencar mematangkan rencana akuisisi aset, baik di dalam dan di luar negeri. BUMN tersebut juga sudah menyiapkan dana sekitar US$ 20 miliar untuk rencana 20 tahun ke depan. 

     Direktur Hulu PT Pertamina Syamsu Alam mengatakan, saat ini pihaknya sedang fokus bernegosiasi untuk mengakuisisi aset di dua negara, yaitu Iran dan Rusia. "Kami juga sedang melakukan evaluasi untuk negara-negara lain yang secara geopolitik memungkinkan untuk kita masuk,” katanya, dalam kunjungan ke Pertamina Hulu Field Jatibarang, Senin (10/4). 

Terkait ekspansi ke Iran, Syamsu mengaku optimistis akan memenangkan tender dalam mendapatkan dua blok di negeri itu, yaitu Ab-Teymour dan Mansouri. Saat ini,  dua tempat tersebut juga sedang diperebutkan oleh Lukoil dari Rusia dan Maersk dari Denmark. 

    Syamsu mengaku, Pertamina merupakan perusahaan pertama yang mengajukan proposal kepada Iran. Secara teknikal, proposal tersebut sudah menjabarkan secara detail mengenai plan of development, rencana investasi, dan rencana produksi.

Selain itu, kunjungan Presiden Joko Widodo beberapa waktu lalu ke Iran yang juga secara eksplisit mengatakan keinginan memiliki aktivitas maupun aset kepada Presiden Iran. Hal ini dapat menguatkan potensi Pertamina mendapatkan lelang tersebut. Sedangkan untuk aset di Rusia, Pertamina mengincar blok di sana dengan kapasitas produksi sekitar 170.000 barel per hari (bph).

Kontan, Page-14, Tuesday, April, 11, 2017

The US attack inciting Oil Prices

Crude oil prices even stronger among the concerns of geopolitical conflict that swept the Middle East. Black gold price rising trend of increasingly uncontrollable as OPEC efforts to limit the production of citing Bloomberg. Monday (10/4) at 16:40 pm. WTI oil price delivery contract in May 2016 in New York Mercantile Exchange rose 0.78% to US $ 52.65 per barrel compared to the previous day.

Within a week, oil prices rose 4.8%. PT SoeGee Futures analyst, Nizar Hilmy said the oil price increase is supported by market concerns about geopolitical conditions in the Middle East. This followed a missile attack the United States (US) against the Syrian military base.

US military bases storm after allegations Syria Bashar al-Assad's government to attack civilians with poisonous gas. "Market participants are surprised by the action of the US intervention in Syria, given President Donald Trump had said it would not interfere in the Middle East conflict," said Nizar. Market participants worry escalated after the US attack, both the scope and the levels of violence, which could lead to a world war. "The conflict in the Middle East will disrupt oil distribution so as to support higher prices," said Nizar.

However, this price hike of oil can be retained following the addition of US drilling activity. Baker Hughes Inc. data show Uncle Sam drilling rigs increased in the 12 last week to its highest level since August 2015 to 672 rigs. Goldmand Sachs estimates that US oil production this year will increase to 9 million barrels per day.

The increase in US production could disrupt the plan to limit production of oil producing countries who are members of OPEC. Some OPEC members favor the extension of restrictions on production until the second half of 2017. The official verdict will be announced in late May.

US exports

Deddy Yusuf Siregar, PT Asia Tradepoint Futures analyst, said OPEC plans that helped lift oil prices. Another driving force: the prediction of the consulting firm Wood Mackenzie on US oil exports this year will reach 1 million barrels per day, or higher than before only 798 000 barrels per day. "If the US production offset by export growth, then the price will be maintained at above US $ 50," said Deddy.

According to Deddy, the US has an interest to be a stable oil price. Therefore, the economical price for US oil production in the range of US $ 40 per barrel. He also predicted that oil prices will move in the range of US $ 50 - US $ 55 until the end of the year. And, Deddy stated US weekly oil reserve release of the Energy Information Administration (EIA) will be one of the drivers of this week's price.

Nizar added, market participants will listen to release its April monthly production data. On the other hand, the signal oil demand from China will be visible from the country's economic data releases of the Great Wall. "The condition of geopolitics in the Middle East also still support the strengthening of the price if it does not show signs of let up," said Nizar.

Tuesday (11/4), Deddy projected that oil prices will rise in the range of US $ 51.6 to US $ 53.15 per barrel and US $ 51.2-US35 53,3 week. Average projection Nizar, oil on Tuesday (11/4) will move US $ 52-US $ 54 and US $ 51-US $ 55 a week.

IN INDONESIAN

Serangan AS Menyulut  Harga Minyak

Harga minyak mentah semakin kokoh di antara kekhawatiran konflik geopolitik yang melanda Timur Tengah. Tren kenaikan harga emas hitam semakin terkendali seiring upaya OPEC membatasi produksi mengutip Bloomberg. Senin (10/4) pukul 16.40 WIB. Harga minyak WTI kontrak pengiriman Mei 2016 di New York Mercantile Exchange menguat 0.78% ke level US$ 52,65 per barel dibanding sehari sebelumnya. 

Dalam sepekan, harga minyak naik 4,8%. Analis PT SoeGee Futures, Nizar Hilmy mengatakan, kenaikan harga minyak didukung oleh kekhawatiran pasar terhadap kondisi geopolitik di Timur Tengah. Hal ini menyusul serangan rudal Amerika Serikat (AS) terhadap pangkalan militer Suriah. 

AS menggempur pangkalan militer Suriah setelah ada dugaan Pemerintahan Bashar al-Assad menyerang warga sipil dengan gas beracun. "Pelaku pasar kaget dengan aksi intervensi AS di Suriah, mengingat Presiden Donald Trump sempat menyatakan tidak akan ikut campur pada konflik Timur Tengah," kata Nizar. 

     Pelaku pasar cemas terjadi eskalasi pasca serangan AS,  baik lingkup maupun kadar kekerasan, yang bisa berujung ke perang dunia.  "Konflik di Timur Tengah akan mengganggu distribusi minyak sehingga mendukung kenaikan harga," kata Nizar.

Tapi, penguatan harga ini minyak bisa tertahan menyusul penambahan aktivitas pengeboran AS. Data Baker Hughes inc menunjukkan rig pengeboran negeri Paman Sam bertambah dalam 12 pekan terakhir ke level tertinggi sejak Agustus 2015 menjadi 672 rig. Goldmand Sachs memperkirakan, produksi minyak AS tahun ini akan meningkat jadi 9 juta barel per hari. 

Kenaikan produksi AS bisa mengganggu rencana pembatasan produksi dari negara produsen minyak yang tergabung dalam OPEC. Beberapa anggota OPEC mendukung perpanjangan pembatasan produksi hingga semester II 2017. Putusan resminya akan diumumkan akhir Mei. 

Ekspor AS 

Deddy Yusuf Siregar, Analis PT Asia Tradepoint Futures, bilang, rencana OPEC itu turut mengangkat harga minyak. Pendorong lain: prediksi biro konsultan Wood Mackenzie terhadap ekspor minyak AS tahun ini akan mencapai 1 juta barel per hari, atau lebih tinggi dari sebelumnya hanya 798.000 barel per hari. "Bila produksi AS diimbangi dengan pertumbuhan ekspor, maka harga masih akan bertahan di atas US$ 50" kata Deddy.

Menurut Deddy, AS memiliki kepentingan untuk menjadi harga minyak stabil. Sebab, harga ekonomis bagi produksi minyak AS di kisaran US$ 40 per barel. Ia pun memprediksikan harga minyak akan bergerak di kisaran US$50 - US$55 hingga akhir tahun. Dan, Deddy menyatakan rilis cadangan minyak mingguan AS dari Energy Information Administration (EIA) akan menjadi salah satu penggerak harga pekan ini. 

Nizar menambahkan, pelaku pasar akan menyimak rilis data produksi bulanan OPEC. Di sisi lain, sinyal permintaan minyak terutama dari China akan terlihat dari rilis data ekonomi negeri tembok rakSasa. "Kondisi geopolitik di Timur Tengah juga masih mendukung penguatan harga jika belum menunjukkan tanda-tanda reda," ujar Nizar.

Hari selasa (11/4), Deddy memproyeksikan, harga minyak akan menguat di kisaran US$ 51,6-US$ 53,15 per barel dan di US$ 51,2-US35 53,3 dalam sepekan. Sedang proyeksi Nizar, minyak hari selasa (11/4) akan bergerak US$ 52-US$ 54 serta US$ 51-US$ 55 sepekan.

Kontan, Page-4, Tuesday, April, 11, 2017

Pertamina Aims Blocks Terminations

Pertamina seeks to boost oil and gas production to support national growth, Pertamina is targeting oil production reached 1.9 million barrels of oil equivalent per day (boepd) in 2025. Efforts were made Upstream Director of PT Pertamina (Persero) Syamsu Alam with the acquisition of oil and gas assets in domestic and foreign. Pertamina has oil and gas fields in 12 countries.

The acquisition of overseas oil and gas fields accounted for 33 percent of oil production targets. Three blocks that have long production overseas are in Algeria, Iraq, and Malaysia. While the three new blocks which began production are in Nigeria, Tanzania, and Gabon. In the country, Pertamina seeks to increase production by targeting additional concession blocks out of contract (termination).

Next year, eight blocks of termination has been given by the government to Pertamina, including Sanga-Sanga and Block OSes. Pertamina also seeks to increase the productivity of all its assets. Among these, the WMO integration project, Parang drilling project Nunukan, Randugunting drilling projects, and optimization of oil content in old wells.

IN INDONESIAN

Pertamina Incar Blok-Blok Terminasi

Pertamina berupaya memacu produksi minyak dan gas untuk mendukung pertumbuhan nasional, Pertamina menargetkan produksi minyak mencapai 1,9 juta barel setara minyak per hari (boepd) pada 2025. Upaya itu dilakukan Direktur Hulu PT Pertamina (Persero) Syamsu Alam dengan melakukan akuisisi aset migas di dalam dan luar negeri. Pertamina telah memiliki ladang migas di 12 negara. 

Akuisisi ladang migas overseas tersebut menyumbang 33 persen target produksi minyak Pertamina. Tiga blok overseas yang telah lama berproduksi berada di Aljazair,  Iraq, dan Malaysia. Sedangkan tiga blok baru yang mulai berproduksi berada di Nigeria, Tanzania, dan Gabon. Di dalam negeri, Pertamina berupaya meningkatkan tambahan produksi dengan mengincar konsesi di blok-blok yang habis kontrak (terminasi). 

Tahun depan, delapan blok terminasi yang telah diserahkan pemerintah kepada Pertamina, termasuk Blok Sanga-Sanga dan Blok OSES. Pertamina juga berupaya meningkatkan produktivitas seluruh aset yang dimiliki. Di antaranya, PHE WMO integration project, proyek pengeboran Parang Nunukan, proyek pengeboran Randugunting, dan optimalisasi kandungan minyak di sumur-sumur tua.

Jawa Pos, Page-3, Tuesday, April, 11, 2017

The acquisition 2 Blocks of the Russian Oil and Gas, Completed This Year

PT Pertamina is targeting the acquisition of blocks of oil and gas in Russia was completed this year. Senior Vice President Business Development Pertamina Upstream Denie S Tampubolon said the acquisition process towards the final stage of the discussion of commercial issues.

As part of the deal with Rosneft, the Russian company in Tuban refinery construction project, Pertamina is entitled to evaluate the two oil and gas fields belonging to the company in Russia. 

     According to official information, in a memorandum of understanding both oil and gas company, Pertamina could acquire a controlling stake of 20% participation (field The Northern Tip of Chayvo and 37.5% in the Russkoye field. Of these activities, Pertamina expects to receive 35,000 barrels of oil per day (bpd ) and oil and gas reserves of 200 million barrels of oil equivalent from Russia.

Therefore, Pertamina will enter in two blocks of oil and gas production in Russia with a stake in each block approximately 10% -15%. "Financial transactions should this year, whether agreed or not because it was signed [under discussion] commercial," he said yesterday (10/4). Denie explained, and the technical aspects, there are factors supporting the acquisition of oil and gas block.

Rosneft will build a gas pipeline East Siberia-Pacific Ocean (ESPO) so that the production of these blocks can be connected with East Asian countries. "So the oil will be in Asia." He said that the search for new oil and gas working areas in the drill company located in Africa, the Middle East, and Asia such as Thailand and Vietnam.

The reason is, there is still potential for development. However, he said, the company did not close the acquisition in another region which allows additional volumes of oil that can be processed to meet the needs of fuel oil (BBM) in the country.

In the search for new oil and gas blocks, some factors such as geopolitics, oil and gas reserves, and fiscal requirements into consideration. Iran, for example, have the appeal of the oil and gas reserves, but from the geopolitical aspects has its own challenges. Therefore, the process to follow the field, including two deals Ab Teymour and Mansouri Iran resumed.

Proposals are committed development of the project was submitted in February 2017. "We have already submitted proposals to the development plan of the National Iranian Oil Company [NIOC]. We are in a waiting position of Iran for discussions on the proposal, "he said.

IN INDONESIAN

Akuisisi 2 Blok Migas Rusia, Rampung Tahun Ini  

PT Pertamina menargetkan akuisisi blok minyak dan gas bumi di Rusia selesai tahun ini. Senior Vice President Upstream Business Development Pertamina Denie S Tampubolon mengatakan, proses akuisisi menjelang tahap akhir yakni pembahasan masalah komersial. 

Sebagai bagian dari kesepakatan dengan Rosneft, perusahaan asal Rusia dalam proyek pembangunan Kilang Tuban, Pertamina berhak melakukan evaluasi terhadap dua lapangan migas milik perusahaan itu di Rusia. 

      Berdasarkan keterangan resmi, dalam nota kesepahaman kedua perusahaan migas ini, Pertamina bisa menguasai saham partisipasi 20% (lapangan The Northern Tip of Chayvo dan 37,5% di Lapangan Russkoye. Dari kegiatan tersebut, Pertamina menargetkan bisa mendapat minyak 35.000 barel per hari (bph) dan cadangan migas 200 juta barel setara minyak dari Rusia. 

Untuk itu, Pertamina akan masuk di dua blok migas produksi di Rusia dengan kepemilikan saham di masing-masing blok sekitar 10%-15%. “Transaksi finansial harus tahun ini, apakah sepakat atau tidak karena sudah masuk [tahap pembahasan] komersial," ujarnya, Senin (10/4). Denie menjelaskan, dan aspek teknik, terdapat faktor pendukung akusisi blok migas tersebut. 

Rosneft akan membangun pipa gas East Siberia-Pacific Ocean (ESPO) sehingga produksi di lapangan tersebut bisa terhubung dengan negara di Asia Timur. “Jadi minyaknya akan ada di kawasan Asia.” Dia menyebutkan bahwa pencarian wilayah kerja migas baru yang di incar perseroan berlokasi di Afrika, Timur Tengah, dan Asia seperti Thailand dan Vietnam. 

Alasannya, masih terdapat potensi pengembangan. Namun, katanya, perseroan tidak menutup akuisisi di wilayah lain yang memungkinkan tambahan volume minyak yang bisa diolah untuk memenuhi kebutuhan bahan bakar minyak (BBM) di dalam negeri. 

Dalam mencari blok migas baru, beberapa faktor seperti geopolitik, cadangan migas, dan syarat-syarat fiskal menjadi pertimbangan. Iran misalnya, memiliki daya tarik dari sisi cadangan migas, tetapi dari aspek geopolitik memiliki tantangan tersendiri. Oleh karena itu, proses untuk mengikuti penawaran dua lapangan yakni Ab Teymour dan Mansouri di Iran dilanjutkan. 

Proposal yang menyatakan komitmen pengembangan lapangan tersebut telah disampaikan pada Februari 2017. “Kami juga sudah menyerahkan proposal rencana pengembangan ke National Iranian Oil Company [NIOC]. Kami dalam posisi menunggu dari Iran untuk pembahasan tentang proposal itu,” katanya.

Bisnis Indonesia, Page-30, Tuesday, April, 11, 2017

Pertamina Soon ahold Tiung Blue

PT Perfomina EP Cepu, a subsidiary of PT Pertamina (Persero), targets to control 90% stake in Gas Field Jambaran - Tiung Blue, Cepu in May 2017 with the completion of negotiations with ExxonMobil Cepu Limited.

Based on the Letter of Meriteri Energy and Mineral Resources (ESDM) No. 9/13 / MEM / 2017 on January 3, 2017, the government commissioned the company to develop the full field-Tiung Jambaran Blue is part of Cepu and Pertamina EP working area.

In the project, PT Pertamina EP Cepu (PEPC) acts as the operator and controls the shares of participation (participating interest / Pl) by 45%. Meanwhile, in Cepu, ExxonMobil Cepu Limited is the operator shareholding with the participation of PEPC 45%, ExxonMobil Cepu Limited 45% and local-owned enterprises (BUMN) 10%.

Director of PEPC Adriansyah said some parameters for Economic into the gas field development has been consistent, but the discussion of taxation issues and the participation share transfer value of 45% of the shares expected to be completed in May 2017. Through these activities are expected to soon finalizing the gas sales agreement (GSA ) in the second quarter / 2017.

Acceleration GSA settlement, expected to encourage the accelerated auction process design, procurement, and construction (EPC). As a result, the first gas production could begin in 2020. "There are a few more questions of interpretation of taxation. The talks will go ahead. May finished as JTB [Jambran-Tiung Blue should begin this year so on stream / in operation by 2020, "he said in a Media Gathering Directorate of Pertamina Hulu, Monday (10/4).

"Based on the Head of Agreement (HOA) signed in 2015, Pertamina is the main buyer of gas with a volume of 100 million cubic feet per day (MMSCFD) and PT Pupuk Kujang Cikampek as buyers alternative absorb the gas as much as 85 MMSCFD. 

In the agreement, a clause who called Pertamina will become buyers when Pupuk Kujang alternative can not agree about the price of the set. However, Pupuk Kujang canceled to absorb the gas from Jambaran because the price offered was considered too expensive. the fertilizer plant wants gas price of US $ 7 per MMBtu.

LOWER

Senior Vice President Business Development Pertamina Upstream Denie Tampubolon said the budget for the acquisition of management rights in Jambaran Field-Tiung Blue has been prepared. According to him, the cost of which issued it will not be as big as to buy shares of participation other work areas. Because the field that previously targeted start producing gas in 2019 was only part of the Cepu Block.

In 2016, Pertamina capital expenditures in the upstream sector amounted to US $ 1.8 billion, ie US $ 0.3 billion for overseas assets and US $ 1.5 billion for domestic assets. The company allocates capital for the acquisition of oil and gas field in this year's US $ 1 billion to $ 2 billion. "Ready. There would be great because the only part of the Cepu Block. "

Upstream Director Penamina Syamsu Alam said the cost for the master franchise-Tiung Jambaran Fields Blue has been prepared for such activities has been anticipated since the beginning of 2016. He said that the difference in the economic standards of the project is difficult to be equated.

IN INDONESIAN

Pertamina Segera Kuasai Tiung Biru

PT Perfomina EP Cepu, anak usaha PT Pertamina (Persero), menargetkan dapat menguasai 90% saham Lapangan Gas Jambaran-Tiung Biru, Blok Cepu pada Mei 2017 dengan selesainya negosiasi dengan ExxonMobil Cepu Limited.

Berdasarkan Surat dari Meriteri Energi dan Sumber Daya Mineral (ESDM) No. 9/13/MEM/ 2017 pada 3 Januari 2017, pemerintah menugaskan perseroan untuk mengembangkan secara penuh lapangan Jambaran-Tiung Biru yang merupakan bagian antara Blok Cepu dan wilayah kerja milik Pertamina EP. 

Pada proyek tersebut, PT Pertamina EP Cepu (PEPC) berperan sebagai operator dan menguasai saham partisipasi (participating interest/Pl) sebesar 45%. Sementara itu, di Blok Cepu, ExxonMobil Cepu Limited menjadi operator dengan komposisi  kepemilikan saham partisipasi yakni PEPC 45%, ExxonMobil Cepu Limited 45 % dan badan usaha milik daerah (BUMD) 10%. 

Direktur Utama PEPC Adriansyah mengatakan beberapa parameter ke ekonomian dalam pengembangan lapangan gas itu telah sejalan, tetapi pembahasan tentang masalah perpajakan pengalihan saham partisipasi dan nilai 45 % saham diharapkan bisa tuntas pada Mei 2017. Melalui kegiatan tersebut diharapkan bisa segera memfinalkan perjanjian jual beli gas (PJBG) pada kuartal II/2017.

Percepatan penyelesaian PJBG, diharapkan bisa mendorong proses percepatan lelang desain, pengadaan, dan konstruksi (EPC). Sebagai hasil, produksi gas pertama bisa dimulai pada 2020. “Ada beberapa lagi soal interpretasi perpajakan. Perundingan jalan terus. Mei selesai karena JTB [Jambran-Tiung Biru harus dimulai tahun ini supaya on stream/beroperasi 2020,” ujarnya dalam acara Media Gathering Direktorat Hulu Pertamina, Senin (10/4).  

"Berdasarkan Head of Agreement (HOA) yang diteken pada 2015, Pertamina menjadi pembeli utama gas dengan volume 100 juta kaki kubik per hari (MMscfd) dan PT Pupuk Kujang Cikampek sebagai pembeli alternatif yang menyerap gas sebanyak 85 MMscfd. 

Pada perjanjian tersebut, terdapat klausul yang menyebut Pertamina akan menjadi pembeli altenatif bila Pupuk Kujang tidak bersepakat soal harga yang ditetapkan. Namun, Pupuk Kujang telah membatalkan untuk menyerap gas dari Jambaran karena harga yang ditawarkan dianggap terlalu mahal. Pabrik pupuk tersebut menginginkan harga jual gas US$ 7 per MMBtu.

LEBIH RENDAH

Senior Vice President Upstream Business Development Pertamina Denie Tampubolon mengatakan, anggaran untuk akuisisi hak kelola di Lapangan Jambaran-Tiung Biru telah disiapkan. Menurutnya, biaya yang dikeluarkan itu tidak akan sebesar untuk membeli saham partisipasi wilayah kerja lain. Pasalnya, lapangan yang sebelumnya ditarget mulai menghasilkan gas pada 2019 itu hanya bagian dari Blok Cepu.

Pada 2016, realisasi belanja modal Pertamina di sektor hulu sebesar US$1,8 miliar yakni US$0,3 miliar untuk aset luar negeri dan US$1,5 miliar untuk aset domestik. Perseroan mengalokasikan modal untuk akuisisi lapangan migas pada tahun ini US$1 miliar-US$2 miliar. “Sudah siap. Tidak akan besar karena hanya

bagian dari Blok Cepu.”

Direktur Hulu Penamina Syamsu Alam mengatakan, biaya untuk menguasai hak kelola Lapangan Jambaran-Tiung Biru telah disiapkan karena kegiatan tersebut telah diantisipasi sejak awal 2016. Dia menyebut bahwa perbedaan standar keekonomian dari proyek sulit untuk disamakan. 

Bisnis Indonesia, Page-30, Tuesday, April, 11, 2017

Speculators action Paint Rally

World crude oil prices were on trend rally, as the rampant speculative attack US mission to Syria. The price increase was also boosted by the cessation of production of the largest oil fields in Libya, as well as OPEC oil contract extension.

In trading on Monday (10/4) at 3:23 pm, the price of WTI oil contract in May 2017 is at US $ 52.66 per barrel rose 0.8% or 0.42 points. This is an increase since trading successive said on Tuesday (21/3). In the past month, prices have grown by 7.6%. Pipeline carrying crude oil ari Sharara, Libya, Zawiya refinery to halt operations on Sunday (9/4). This creates an immediate disruption to the export destination.

As is known, Libya has the largest crude oil reserves in Africa. Sharara, precisely in western Libya, every day to pump 200,000 barrels of oil per day, before the advent of disruption in Libyan oil pipeline. The National Oil Corp (NOC) North African production has just returned to the normal level of about 700,000 barrels per day. Oil producers stopped operating. Meanwhile, the US missile strikes into Syrian air base last week has pushed oil prices rose to above $ 52 per barrel.

Andy Wibowo Gunawan analyst at Mirae Asset Securities Indonesia, said that if given the track record of the history, the US attack on Syria is quite alarming and potentially develop into a war as happened in Iraq in 2003. According to him, the geopolitical conditions that sentiment booster crude oil prices. "The US attack soaring world oil prices," he said, Monday (10/4).

According to traders, as quoted by Reuters, oil prices were supported by strong demand and global political uncertainty following the attack by the US against the Syrian capital last weekend. Strong demand for oil and backgrounds filled with anxiety global conditions provide the balance of the Syrian air base, where suspected launch deadly chemical weapons last week. "The US cruise missile attack has led to a surge in crude oil prices," said Jeffrey Halley, senior market analyst at Oanda.

Syria is not a major crude oil production of the world. The country also has limited oil production. However, its location in the Middle East and its alliances with a number of top oil producers raised fears of widespread conflict could disrupt crude shipments. However, the continued increase in increase for 12 consecutive weeks into 672 rig, which was the highest level since August 2015. According to Goldman Sachs, the rig release of data showing that US oil production (year on year / yoy) to increase by 215,000 barrels per day in 2017.

Firmness GEOPOLITICS

Ibrahim, Director of PT Garuda Futures, said Syria's own influence on the oil market was not too big. Because even in the Middle East, the country was not included in the OPEC member. However, the factor of geopolitical tensions involving oil producers. Actually, geopolitical factors can not be a major foothold as rising commodity prices, as the US dollar continues to strengthen.

Therefore, future commodity prices will go back to the fundamentals of each. "If the speculation continues hoist factor in oil prices, then the US dollar also increased. So when oil prices plummeted major producing countries could experience a crisis. Because the US dollar has been strong due to positive fundamentals, while the oil does not have a solid foundation, "he said. He added that the US attack on the Syrian issue will not take place Iama. The reason, every country involved either directly or indirectly wants global political conditions are more stable.

IN INDONESIAN

Aksi Spekulan Warnai Reli

    Harga minyak mentah dunia sedang dalam tren reli, seiring maraknya aksi spekulatif dari serangan misi Amerika Serikat ke Suriah. Kenaikan harga juga didongkrak oleh terhentinya produksi ladang minyak terbesar di Libya, serta perpanjangan kontrak minyak OPEC.

Pada perdagangan Senin (10/4) pukul 3:23 WIB, harga minyak WTI kontrak Mei 2017 berada di posisi US$52,66 per barel naik 0,8% atau 0,42 poin. Ini merupakan kenaikan berturut-tutur sejak perdagangan selasa (21 /3). Dalam sebulan terakhir, harga telah tumbuh hingga 7,6%. Pipa yang membawa minyak mentah ari Sharara, Libya, ke kilang Zawiya berhenti beroperasi pada Minggu (9/4). Kondisi ini menciptakan gangguan kepada segara tujuan ekspor.

  Seperti diketahui, libya memiliki cadangan minyak mentah terbesar di Afrika. Sharara, tepatnya di Libya barat, setiap hari memompa 200.000 barel minyak per hari, sebelum munculnya gangguan pada pipa minyak Libya. The National oil Corp (NOC) produksi Afrika Utara baru saja kembali ke tingkat normal sekitar 700.000 barel per hari. Produsen minyak berhenti beroperasi. Adapun, serangan rudal AS ke pangkalan udara Suriah pada pekan lalu telah mendorong harga minyak naik ke atas US$52 per barel. 

Andy Wibowo Gunawan analis Mirae Asset Sekuritas Indonesia, mengatakan bila mengingat rekam jejak sejarah, serangan AS kepada Suriah cukup memprihatinkan dan berpotensi berkembang menjadi perang seperti yang terjadi di Irak pada 2003. Menurut dia, kondisi geopolitik itu menjadi sentimen pendongkrak harga minyak mentah. “Serangan AS membuat harga minyak dunia melonjak,” ungkapnya, Senin (10/4). 

Menurut para trader, seperti dikutip Reuters, harga minyak didukung oleh permintaan yang kuat serta ketidakpastian politik global menyusul serangan modal oleh AS terhadap Suriah pada akhir pekan lalu. Kuatnya permintaan atas minyak serta latar belakang kondisi global yang dipenuhi kegelisahan memberikan keseimbangan pangkalan udara Suriah, tempat yang diduga diluncurkannya senjata kimia mematikan pada pekan lalu. “Serangan rudal jelajah AS telah menyebabkan lonjakan pada harga minyak mentah,” ujar Jeffrey Halley, senior market analyst OANDA. 

Suriah memang bukan produksi utama minyak mentah dunia. Negara ini pun telah membatasi produksi minyaknya. Namun, lokasinya yang terletak di Timur Tengah beserta aliansinya dengan sejumlah produsen teratas minyak menimbulkan kekhawatiran tentang meluasnya konflik yang dapat mengganggu pengiriman minyak mentah. 

    Meski demikian, lanjutan peningkatan bertambah selama 12 pekan berturut-turut menjadi 672 rig, yang merupakan level tertinggi sejak Agustus 2015. Menurut Goldman Sachs, rilis data rig menunjukkan bahwa produksi minyak AS (year on year/yoy) dapat bertambah sebesar 215.000 barel per hari pada 2017.

KETEGASAN GEOPOLITIK

Ibrahim, Direktur Utama PT Garuda Berjangka, mengungkapkan pengaruh Suriah sendiri terhadap pasar minyak sebenarnya tidak terlalu besar. Pasalnya meskipun berada di Timur Tengah, negara itu tidak masuk dalam anggota OPEC. Namun, faktor ketegangan geopolitik melibatkan  produsen minyak. Sebetulnya faktor geopolitik tidak bisa dijadikan pijakan utama sebagai kenaikan harga komoditas, karena dolar AS juga terus menguat. 

Oleh karena itu, nantinya harga komoditas akan kembali kepada fundamental masing-masing. “Jika faktor spekulasi terus mengerek harga minyak, kemudian dolar AS juga meningkat. Maka ketika harga minyak anjlok negara produsen utama bisa mengalami krisis. 

     Karena dolar AS sudah kuat karena fundamental positif, sedangkan minyak tidak punya dasar yang kuat,” paparnya. Dia menambahkan, masalah serangan AS terhadap Suriah tidak akan berlangsung Iama. Pasalnya, setiap negara yang terlibat baik secara langsung maupun tidak langsung menginginkan kondisi politik global yang lebih stabil. 

Bisnis Indonesia, Page-16, Tuesday, April, 11, 2017

Pertamina Rely on Foreign Oil and Gas Blocks

PT Pertamina is committed to achieve the target production of 1.9 million barrels of oil equivalent per day (BOEPD) in 2025. The target will be supported by intensifying the acquisition of oil and gas assets in and outside the country.

PT Pertamina Upstream Director Syamsu Alam said the acquisition of assets from abroad (overseas) reliable-able to contribute 33% of the production target. He said Pertamina will undertake a strategy to manage blocks termination at next year which has been transferred from the government to Pertamina including oil and gas Sanga-Sanga block and Block OSes (Offshore South East Sumatra).

"In domestic, Pertamina also optimize the assets owned by the various projects, such as PHE WMO Integration Project, drilling projects Parang Nunukan, Randugunting drilling projects, optimization of EOR in old wells and others, "said Syamsu Alam in Cirebon, West Java.

He added that the asset optimization intended to increase oil and gas production for the target company's upstream sector reached. According Syamsu, overseas there are three blocks that have already been produced, namely Algeria, Iraq and Malaysia. In addition, Pertamina also has an additional two blocks that are already in production in Nigeria and Gabon.

While seven blocks in the exploratory stage, namely Namibia, Tanzania, Myanmar, France, Italy, Colombia, and Canada. 'So now we are grateful to Pertamina in 12 countries.

Steps taken by Pertamina can not be separated from efforts SOEs to contribute significantly in supporting the national economy. Indonesia, which is currently in the order of the 16 countries with the largest economies are expected to grow nearly continued economic giants of the world, such as China, America and India.

"With that kind of economic growth, of Indonesia needs the support of energy to the maximum. Nationally, the real national energy needs far more than enough," he said.

However, when the high consumption of oil and gas production in Indonesia it has continued to decline, in line with the increasing depletion of reserves at the disposal. Although Indonesia has 60 basins, Indonesia's oil reserves in the order of 26 world, about 4 billion barrels. The same thing with gas reserves of Indonesia at number 14 with reserves of 100 tcf.

"Step Pertamina manage overseas oil and gas blocks in the real to strengthen reserves and national production. Because of overseas oil and gas production in the results will be taken home to be processed in existing refineries in Indonesia to meet domestic fuel consumption.

IN INDONESIAN

Pertamina Andalkan Blok Migas Luar Negeri

PT Pertamina berkomitmen merealisasikan target produksi 1,9 juta barel oil equivalen per day (BOEPD) pada 2025. Target tersebut akan ditopang dengan menggencarkan akuisisi aset migas di dalam dan diluar negeri.

Direktur Hulu PT Pertamina Syamsu Alam mengatakan, akuisisi aset dari luar negeri (overseas) diandalkan-mampu menyumbang 33% target produksi tersebut. Menurut dia, Pertamina akan melakukan strategi untuk mengelola blok-blok terminasi pada tahun depan yang telah diserahkan dari pemerintah kepada Pertamina, termasuk Blok Migas Sanga-Sanga dan Blok OSES (Offshore South East Sumatera).

"Di domestik, Pertamina juga mengoptimalisasikan aset-aset yang dimiliki dengan berbagai proyek, seperti PHE WMO Integration Project, proyek pengeboran Parang Nunukan, proyek pengeboran Randugunting, optimalisasi EOR di sumur-sumur tua dan lainnya," ujar Syamsu Alam di Cirebon, Jawa Barat.

Dia menambahkan, optimalisasi aset tersebut dimaksudkan untuk meningkatkan produksi migas agar target perusahaan disektor hulu tercapai. Menurut Syamsu, di luar negeri terdapat tiga blok yang telah berproduksi, yaitu Aljazair, Irak, dan Malaysia. Selain itu Pertamina juga memiliki tambahan dua blok yang sudah berproduksi di Nigeria dan Gabon.

Sementara tujuh blok yang dalam tahap eksplorasi, yakni Namibia, Tanzania, Myanmar, Prancis, Italia, Kolombia, dan Kanada. Jadi, sekarang kita bersyukur Pertamina ada di 12 negara.

Langkah yang dilakukan Pertamina tidak lepas dari upaya perusahaan pelat merah ini untuk memberikan kontribusi nyata dalam mendukung perekonomian nasional. Indonesia yang saat ini berada di urutan ke-16 negara dengan kekuatan ekonomi terbesar pun terus diperkirakan tumbuh mendekati raksasa-raksasa ekonomi dunia, seperti China, Amerika, dan India.

"Dengan pertumbuhan ekonomi semacam itu, tentu Indonesia membutuhkan dukungan energi secara maksimal. Secara nasional, sesungguhnya kebutuhan energi nasional jauh lebih dari cukup,” kata dia.

Namun, di saat tingginya konsumsi justru produksi migas di Indonesia terus merosot, seiring makin menipisnya cadangan yang di miliki. Sekalipun Indonesia memiliki 60 cekungan, cadangan minyak Indonesia itu di urutan 26 dunia, sekitar 4 miliar barel. Hal yang sama dengan cadangan gas Indonesia di urutan ke 14 dengan cadangan 100 TCF.

”Langkah Pertamina mengelola blok migas di luar negeri sesungguhnya untuk memperkuat cadangan dan produksi nasional. Karena produksi migas di overseas itu hasilnya akan dibawa pulang untuk diolah di kilang-kilang yang ada di lndonesia untuk memenuhi konsumsi BBM domestik.

 Koran Sindo, Page-5, Monday, April, 10, 2017