Covered Investment New Contractor

The transition operator of oil and gas blocks

New contractor will bear the costs of investments that have been incurred by the existing contractor in transition management of oil and gas blocks.

This is in accordance with the provisions of Regulation No. Minister of Energy and Mineral Resources 26/2017 on the Mechanism of Investment Refund on the Upstream Oil and Gas which was published on March 30, 2017, stated that there are 14 chapters with a few main points.

First, the government guaranteeing repayment of the cost of investment in the transition to the contractor exist. It was stated in Article 3 of Regulation of the Minister of Energy and Mineral Resources No. 26/2017 calling contractor is entitled to reimbursement of investments made to maintain production levels. In Article 5 and 6 is set on return on investment cost for a contract extension that implement operating cost recovery or cost recovery can proceed.

Meanwhile, when the next contract turned into a production sharing contract dirty or gross split, the cost of investment in the transition period investment cost has not been returned or unrecovered costs accounted for in part the contractor. 

    On the other hand, if there is any other contractor who has management rights, the return on investment costs can be divided in proportion to the shareholding participation.

In Article 6, if the contract is not renewed and there are still investment costs have not been returned, repayment burden carried by the new contractor. Meanwhile, the return value of the investment cost is the remainder of the investment costs that have not reverted to the old contract.

In Article 8 states that the value of the return on the investment cost included in the determination letter new working area and a new cooperation contract. Related to the type of contract, Article 10 is mentioned, the completion of undepreciated cost already accounted for in part so that the contractor does not affect the calculation of gross profit sharing scheme split.

Minister of Energy and Mineral Resources shall be entitled to the value of the return on investment by considering the economics of upstream investment activities and the recommendation SKK Migas. 

     Associated with the new beleid, President Director of PT Pertamina Hulu Energi (PHE) Mount Sardjono Hadi admitted that it did not understand the contents of the new regulations. The reason is, there are still costs that can not be depreciated in the Offshore North West Java (ONWJ) who had switched to split the gross contract in January 2017.

PROFIT SHARING

PHE ONWJ is the same contractor well in the previous contract while using the gross cost recovery or split. In the old contract, the management ONWJ still leave undepreciated cost of US $ 450 million.

      According to him, the cooperation contract changes, it could be considered that these costs could increase the revenue share (split) contractor. Because, there are an additional burden in the form of taxes, rental fees for dependents facilities also charge a 10% share offer to enterprises.

Additional revenue can only be a maximum of 5% and considering the economic field. Conversion undepreciated cost into additional revenue only when the contractor contractor filed its own transition from contract gross cost recovery be split as stipulated in Article 25 of Regulation No. 8/2017 on Contracts Gross Split.

"If you do not put the split calculation, very heavy," he said, Wednesday (12/4).

Director of Upstream Oil and Gas Ministry of Energy and Mineral Resources Single say, the economic field would certainly be a consideration of the investment cost recovery. However, it was seen by case basis and can not apply to all areas of work.

Government commissioned PT Pertamina to manage eight blocks with a gross scheme split. This is the eighth block Tuban Block, Ogan Ogan, Sanga-Sanga, South East Sumatra, Central, North Sumatra Offshore, East Kalimantan, and Attaka.

IN INDONESIAN

Peralihan operator blok migas

Investasi Ditanggung Kontraktor Baru

Kontraktor baru akan menanggung biaya investasi yang telah sudah dikeluarkan oleh kontraktor existing dalam masa peralihan pengelolaan blok minyak dan gas bumi.

Hal itu sesuai dengan ketentuan dalam Peraturan Menteri ESDM No. 26/2017 tentang Mekanisme Pengembalian Biaya Investasi pada Kegiatan Usaha Hulu Minyak dan Gas Bumi yang terbit pada 30 Maret 2017. Dalam beleid itu terdapat 14 pasal dengan beberapa poin utama.

Pertama, pemerintah menjamin pengembalian biaya investasi pada masa transisi kepada kontraktor eksis. Hal itu tercantum pada Pasal 3 Peraturan Menteri ESDM No. 26/2017 yang menyebut kontraktor berhak atas pengembalian biaya investasi yang dilakukan untuk menjaga tingkat produksi. 

     Pada Pasal 5 dan 6 diatur tentang pengembalian biaya investasi untuk perpanjangan kontrak yang menerapkan pengembalian biaya operasi atau cost recovery bisa dilanjutkan.

Sementara itu, bila pada kontrak berikutnya beralih menjadi kontrak bagi hasil kotor atau gross split, biaya investasi di masa transisi juga biaya investasi yang belum dikembalikan atau unrecovered cost diperhitungkan dalam bagian kontraktor. 

     Di sisi lain, bila terdapat kontraktor lain yang memiliki hak pengelolaan, pengembalian biaya investasi bisa dibagi secara proporsional sesuai dengan kepemilikan saham partisipasi.

Pada Pasal 6, jika kontrak tidak diperpanjang dan masih terdapat biaya investasi yang belum dikembalikan, beban pengembalian dilakukan oleh kontraktor baru. Adapun, nilai pengembalian biaya investasi merupakan sisa biaya investasi yang belum dikembalikan pada kontrak lama. 

Pada Pasal 8 menyebutkan bahwa nilai pengembalian atas biaya investasi dicantumkan dalam surat penetapan pengelolaan wilayah kerja baru dan kontrak kerja sama baru. Terkait dengan jenis kontrak, pada Pasal 10 disebutkan, penyelesaian undepreciated cost sudah diperhitungkan dalam bagian kontraktor sehingga tidak mempengaruhi perhitungan bagi hasil pada skema gross split.

Menteri ESDM juga berhak menetapkan nilai pengembalian investasi dengan mempertimbangkan keekonomian kegiatan investasi hulu setelah mendapat rekomendasi SKK Migas. Terkait dengan beleid baru itu, Presiden Direktur PT Pertamina Hulu Energi (PHE) Gunung Sardjono Hadi mengaku bahwa pihaknya belum memahami isi peraturan baru tersebut. Pasalnya, saat ini masih terdapat biaya yang tidak bisa terdepresiasi pada Blok Offshore North West Java (ONWJ) yang baru beralih ke kontrak gross split pada Januari 2017.

BAGI HASIL

PHE ONWJ merupakan kontraktor yang sama baik pada kontrak sebelumnya saat menggunakan cost recovery maupun gross split. Pada kontrak lama, pengelolaan ONWJ masih meninggalkan undepreciated cost US$ 450 juta.

     Menurutnya, dengan perubahan kontrak kerja sama, bisa dipertimbangkan agar biaya tersebut bisa menambah bagi hasil (split) kontraktor. Pasalnya, masih terdapat tambahan beban berupa pajak, biaya sewa fasilitas juga biaya tanggungan untuk penawaran saham 10% kepada BUMD.

Tambahan bagi hasil hanya bisa dilakukan maksimum 5% dan mempertimbangkan keekonomian lapangan. Konversi undepreciated cost menjadi tambahan bagi hasil kontraktor hanya dilakukan bila kontraktor mengajukan sendiri peralihan kontrak dari cost recovery menjadi gross split seperti diatur dalam Pasal 25 Peraturan Menteri No. 8/2017 tentang Kontrak Gross Split.

“Kalau tidak dimasukkan perhitungan split, sangat berat," katanya, Rabu (12/4). 

Direktur Pembinaan Usaha Hulu Minyak dan Gas Bumi Kementerian ESDM Tunggal mengatakan, keekonomian lapangan tentunya akan menjadi pertimbangan tentang pengembalian biaya investasi. Namun, hal itu dilihat per kasus dan tidak bisa berlaku untuk semua wilayah kerja. 

Pemerintah menugaskan PT Pertamina untuk mengelola delapan blok dengan skema gross split. Kedelapan blok ini adalah Blok Tuban, Ogan Komering, Sanga-Sanga, South East Sumatera, Tengah, North Sumatera Offshore, East Kalimantan, dan Attaka. 

Bisnis Indonesia, Page-30, Thursday, April, 13, 2017

Saka Energy and PGN Synergy

PT Saka Energi Indonesia strengthen gas supply, while PT Perusahaan Gas Negara Tbk to build a pipeline.

While spur drilling at existing oil and gas fields, PT Saka Energi Indonesia to seek opportunities bam gas source. The plan they synergize with the agenda of gas downstream holding company of PT Perusahaan Gas Negara (PGN) Tbk.

Saka Energi Indonesia has a duty to supply gas, while PGN build a gas pipeline. "So PGN can build infrastructure, so they build a gas pipeline, we set up the gas," said Tumbur Parlindungan, Director of Operations of PT Saka Energi Indonesia.

Target Saka Energi Indonesia this year gas production of 50,000 barrels of oil equivalent per day (boepd). The target is 31.58% higher than last year's actual production of gas, which is 38,000 boepd. Plan Saka Energi Indonesia gas production is located in South Sesulu Block, East Kalimantan and gas field Sedayu, Pangkah block, East Java.

They had to drill two wells in Block South Sesulu. While the development plan alias plan of development (POD) Pangkah block is still in the preparation stage.

According to the Saka Energi Indonesia, both oil and gas fields are still highly economical. Thus, the increase in production is still a great opportunity. Only, they are not detailing the investment value of the field development.

While other production resources development plan is still under consideration. References Saka Energi Indonesia is a market demand and the economic value of oil and gas fields. Construction of gas pipeline one of these plans PGN gas pipeline this year ie from West Natuna to Batam. The total length is 10 kilometers (km).

Through the pipe., PGN will utilize gas West Natuna for the domestic market. During this time they are exporting many West Natuna gas due to lack of infrastructure. But keep in mind, PGN infrastructure development not only in the form of a pipe.

PGN shares coded company in Indonesia Stock Exchange also make hubs, terminals and other infrastructure gas downstream. Through. pipe line or virtual terminal, PGN gas supply will be more flexible because it does not rely on oil and gas field connections. Later, the gas supply can be in the form of liquefied natural gas from domestic or imported.

When relying on domestic production, logistics costs them more competitive. "It's hard to imagine cheaper imports, except in the spot market was only once or twice, but if mid term and long term it production in the country certainly compete, "said Hendi Prio Santoso, President Director of PT Perusahaan Gas Negara Tbk, Tuesday (11/4).

Furthermore PGN count, to achieve the target mix of renewable energy (EBT) of 22.6% in 2025, the government needed the gas volume two times larger than the current realization. Estimates, 400 million tons of oil equivalent.

It also requires a pipeline of 25,000 km. So far, the length of the gas pipeline built 9,000 km. The total investment cost for developing the infrastructure reaches US $ 25 billion.

Just so you know, PGN is not only aiming for distribution of gas to the industrial sector. The government-owned company also wants to strengthen the gas supply to the household sector. Last year, PGN distribute 1,599 MMSCFD of natural gas. While the addition of reaching 252 Km long pipeline. By the end of 2016, the total length of 7278 Km pipeline.

IN INDONESIAN

Saka Energi dan PGN Bersinergi

PT Saka Energi Indonesia memperkuat suplai gas, sedangkan PT Perusahaan Gas Negara Tbk membangun jaringan pipa.

Sembari memacu pengeboran di lapangan minyak dan gas eksisting, PT Saka Energi Indonesia mencari peluang sumber gas bam. Rencana itu mereka sinergikan dengan agenda hilirisasi gas induk usaha, PT Perusahaan Gas Negara (PGN) Tbk.

Saka Energi Indonesia bertugas menyuplai gas, sedangkan PGN membangun jaringan pipa gas. "Supaya PGN bisa membangun infrastruktur, jadi mereka membangun jaringan pipa gas, kami menyiapkan gasnya," kata Tumbur Parlindungan, Direktur Operasi PT Saka Energi Indonesia.

Target Saka Energi Indonesia tahun ini memproduksi gas sebanyak 50.000 barel setara minyak per hari (boepd). Target tersebut 31,58% lebih tinggi ketimbang realisasi produksi gas tahun lalu, yakni 38.000 boepd. Rencana produksi gas Saka Energi Indonesia berada di Blok South Sesulu, Kalimantan Timur dan lapangan gas Sedayu, Blok Pangkah, Jawa Timur. 

Mereka telah mengebor dua sumur di Blok South Sesulu. Sementara rencana pengembangan alias plan of development (POD) Blok Pangkah masih dalam tahap persiapan. 

    Menurut catatan Saka Energi Indonesia, kedua lapangan migas tadi masih sangat ekonomis. Dus, peluang peningkatan produksinya masih besar. Hanya saja, mereka tidak mendetailkan nilai investasi pengembangan lapangan.

Sementara rencana pengembangan sumber produksi lain masih dalam pertimbangan. Acuan Saka Energi Indonesia adalah permintaan pasar dan nilai keekonomian lapangan migas. Pembangunan pipa gas salah satu rencana rute pembangunan pipa gas PGN tahun ini yakni dari West Natuna ke Batam. Total panjangnya 10 kilometer (km).

Lewat pipa tersebut, PGN akan memanfaatkan gas West, Natuna untuk pasar dalam negeri. Selama ini mereka banyak mengekspor gas West Natuna karena kurangnya infrastruktur. Namun perlu diketahui, pembangunan infrastruktur PGN tidak hanya dalam bentuk pipa. 

Perusahaan berkode saham PGAS di Bursa Efek Indonesia tersebut juga membikin hub, terminal dan prasarana hilirisasi gas yang lain. Lewat. terminal atau virtual pipe line, suplai gas PGN akan lebih fleksibel karena tidak hanya mengandalkan koneksi lapangan migas. Nanti, suplai gas bisa dalam bentuk gas alam cair dari domestik maupun impor.

Kalau mengandalkan produksi dalam negeri, biaya logistik mereka bisa lebih kompetitif. "Sulit membayangkan impor lebih murah, kecuali di pasar spot itu hanya sekali dua kali, tetapi kalau mid term dan long term itu produksi dalam negeri pasti bersaing," ujar Hendi Prio Santoso, Direktur Utama PT Perusahaan Gas Negara Tbk, Selasa (11/4).

Lebih jauh PGN menghitung, untuk mencapai target bauran energi baru terbarukan (EBT) 22,6% pada tahun 2025, pemerintah membutuhkan volume gas dua kali lebih besar dari realisasi saat ini. Perkiraannya, mencapai 400 juta ton setara minyak.

Selain itu juga membutuhkan pipa sepanjang 25.000 km. Sejauh ini, panjang pipa gas terpasang mencapai 9.000 km. Adapun total biaya investasi untuk mengembangkan infrastruktur tersebut mencapai US$ 25 miliar.

Asal tahu, PGN tidak hanya membidik penyaluran gas ke sektor industri. Perusahaan milik pemerintah itu juga ingin memperkuat penyaluran gas ke sektor rumah tangga. Tahun lalu, PGN menyalurkan 1.599 mmscfd gas bumi. Sementara penambahan panjang pipa mencapai 252 Km. Hingga akhir tahun 2016, total panjang pipa 7.278 Km.

Kontan, Page-13, Wednesday, April, 12, 2017

Pertamina EP Develop Two Projects

PT Pertamina EP to develop two projects in April. The project involved the development of Matindok gas that cost 692 million dollars and the project development costs elephant Paku 139.7 million US dollars. Both projects have a production capacity of each 105 MMSCFD and 45 MMSCFD well as a condensate of 1,100 BOPD.

"It is expected to come on stream its two projects, we can surpass the production target at the set at 85 thousand BOPD and the target of a net profit of 5% million US dollars," said PTH President Director of PT Pertamina EP Nanang Abdul Manaf.

In carrying out its operations, PT Pertamina EP is faced with the challenge of the expansion of the mining area to reach the area of ​​131,614 km2. Pertamina EP also manages more than 300 oil and gas structures and more than 2,100 active oil and gas wells throughout Indonesia.

"We continue to do all it can to address these challenges so that oil and gas production target can be fulfilled," said Nana.

IN INDONESIAN

Pertamina EP Kembangkan Dua Proyek

PT Pertamina EP mengembangkan dua proyek pada April ini. Proyeknya adalah pengembangan gas Matindok yang membutuhkan biaya 692 juta dolar AS dan proyek pengembangan Paku Gajah yang menelan biaya 139,7 juta dolar AS. Kedua proyek tersebut memiliki kapasitas produksi masing-masing 105 MMSCFD dan 45 MMSCFD Serta kondesat 1.100 BOPD.

"Diharapkan dengan on stream-nya dua proyek tersebut, kami dapat melampaui target produksi yang di tetapkan sebesar 85 ribu BOPD dan target laba bersih sebesar 5% juta dolar AS," kata PTH President Director PT Pertamina EP Nanang Abdul Manaf. 

Dalam menjalankan operasinya, PT Pertamina EP dihadapkan dengan tantangan berupa perluasan wilayah kerja pertambangan yang mencapai seluas 131.614 km2. Pertamina EP juga mengelola lebih dari 300 struktur migas serta Lebih dari 2.100 sumur migas aktif di seluruh indonesia.

"Kami tetap berupaya semaksimal mungkin untuk menjawab tantangan tersebut agar produksi migas yang ditargetkan dapat kami penuhi," kata Nanang.

Republika, Page-14, Wednesday, April, 12, 2017

PGN Accelerate Gas Infrastructure

PT Perusahaan Gas Negara (PGN) to prepare an investment of approximately US $ 25 billion to accelerate development of gas infrastructure. "This is to support the assimilation energy targets of 26% of natural gas in 2025.

Estimated investment of about US $ 25 billion in new capital expenditure is in the form of investment (capital expenditure). We build new transmission and distribution pipeline in addition to the virtual form, ie in order to receive LNG terminal, "said President Director of PGN Hendi Prio Santoso in between Indonesia Energy Conference.

With that investment, until 2025 PGN targets the development of a gas pipeline along 15 238 km, liquefaction facilities (liquefaction) of gas is 14 units, and 74 units regasification facilities.

For gas distribution, targeting the construction PGN 750 CNG filling stations and more than 2.8 million household connections domestic gas network. Associated with the virtual development pipeline, Hendi explained it very useful in the future because Iebih flexible in reaching the gas supply. Not only from the field that are already in production, virtual pipeline can also be used for flood of imported gas.

"In the future (virtual pipeline) not only presupposes that a dedicated field, but also to bring liquefied natural gas either domestic production or imports when needed," said Hendi. He emphasized infrastructure development is necessary in view of the projected gas demand in 2025 estimated to be very big, reaching 9,600 bbtud, especially for central and eastern part of Indonesia.

"Therefore, the number of pipelines required dimension as much as three times that of all the total length of the pipeline, which is about 9,000 km, so that the needs of the future and the electrification program using the gas reached

IN INDONESIAN

PGN Percepat Infrastruktur Gas

PT Perusahaan Gas Negara Tbk (PGN) mempersiapkan investasi sekitar US$25 miliar untuk mempercepat pembangunan infrastruktur gas. “Ini untuk mendukung target pembauran energi sebesar 26% dari natural gas pada 2025. 

Estimasi investasi sekitar US$25 miliar ini berbentuk new capital expenditure investment (belanja modal). Kami membangun jaringan transmisi dan distribusi baru selain yang berbentuk virtual pipeline, yaitu terminal untuk bisa menerima LNG,” ujar Dirut PGN Hendi Prio Santoso di sela Indonesia Energy Conference.

Dengan investasi itu, hingga 2025 PGN menargetkan pembangunan jaringan pipa gas sepanjang 15.238 km, fasilitas liquefaction (pencairan) gas sebanyak 14 unit, dan fasilitas regasifikasi 74 unit. 

Untuk distribusi gas, PGN menargetkan pembangunan 750 Stasiun pengisian BBG dan lebih dari 2,8 juta sambungan rumah jaringan gas rumah tangga. Terkait dengan pembangunan virtual pipeline, Hendi menjelaskan itu sangat berguna di masa depan karena Iebih fleksibel dalam menjangkau suplai gas. Tidak hanya dari lapangan yang sudah berproduksi, virtual pipeline juga bisa dimanfaatkan untuk mengaliri gas dari impor.

“Di masa depan (virtual pipeline) tidak hanya mengandaikan lapangan yang dedicated, tapi juga membawa gas alam cair baik produksi domestik atau impor bila diperlukan,” jelas Hendi. Dia menegaskan pembangunan infrastruktur sangat perlu mengingat proyeksi kebutuhan gas pada 2025 diperkirakan sangat besar, yakni mencapai 9.600 bbtud, terutama untuk Indonesia bagian tengah dan timur.

“Karena itu, jumlah dimensi jaringan pipa yang dibutuhkan sebanyak tiga kali lipat dari semua jumlah panjang pipa, yaitu sekitar 9.000 km, agar kebutuhan masa depan dan program elektrifikasi menggunakan gas tercapai.”

Media Indonesia, Page-18, Wednesday, April, 12, 2017

Regulatory Changes Confusing lnvestor

Investors to invest in oil and gas sector in the country indicates an alarming trend. It is seen from the auction enthusiasts the quiet working area (WK) of oil and gas in the period of last two years. Policy Survey Perception Index 2016 released Fraser Institute also expressed Indonesia less competitive than neighboring countries in terms of acceptance of oil and gas investments.

In 2015, of 11 WK offered, none enthusiasts. Even in 2016, from 17 WK there is only one buyer. Patmosukismo Suyitno energy analyst said it happened because of various problems in the country that ultimately have an impact on investors.

Changes in contract scheme for the results of the gross cost recovery be split one of them. In the scheme there is also another problem, namely the tax provisions are not clear.

"There should be clarity on the tax regime used to gross split. There just mentioned taxation system adapted to that currently applies. Well, apply it where? No clear rules, "said Suyitno.

Regardless of the scheme is implemented, both gross cost recovery or split, Suyitno view of production sharing is still the best model to do.

Executive Director of the Indonesian Petroleum Association Marjolijn Wajong said the key to retract the interest of investors in the oil and gas sector is a good cooperation in all ministries involved in it. Ministry of Energy and Mineral Resources has decided the scheme, but in terms of taxation, which, according to the Ministry of Finance set the record, is still unclear.

"It's all in the hands of the government. If all the blame, then just wait it will not be finished, ".

On the other hand, the Ministry of Energy will auction off about 15 WK oil and gas in the first half of 2017. The Director General of Oil IGN said the government is optimistic Wiratmaja Pudja gross scheme split into an attraction for investors or cooperation contract (PSC) for work on oil and gas upstream sector.

"Everything is offered in gross PSC split. It will attract investors to participate in the auction, even if we admit the conditions of oil and gas investment is more difficult with the price of oil, "said Wiratmaja

IN INDONESIAN

Perubahan Regulasi Membingungkan lnvestor

Minat investor berinvestasi pada sektor minyak dan gas bumi di Tanah Air menunjukan tren yang mengkhawatirkan. Itu terlihat dari sepinya peminat lelang Wilayah kerja (WK) migas dalam periode dua tahun terakhir. Survei Policy Perception Index 2016 yang di rilis Fraser Institute juga mengungkapkan Indonesia kalah bersaing dari negara-negara tetangga dalam hal penerimaan penanaman modal migas.

Pada 2015 dari 11 WK yang ditawarkan, tidak ada satu pun peminat. Bahkan di tahun 2016, dari 17 WK hanya ada 1 peminat. Pengamat energi Suyitno Patmosukismo mengatakan hal itu terjadi karena berbagai persoalan di dalam negeri yang akhirnya berdampak pada para investor. 

Perubahan skema kontrak bagi hasil dari cost recovery menjadi gross split salah satunya. Dalam skema itu juga ada persoalan lain, yakni ketentuan perpajakan yang tidak jelas.

“Harus ada kejelasan tentang rezim pajak yang dipakai untuk gross split. Di sana hanya disebutkan sistem perpajakan disesuaikan dengan yang saat ini berlaku. Nah, yang berlaku itu yang mana? Tidak jelas aturannya,” tutur Suyitno.

Terlepas dari skema yang diterapkan, baik cost recovery maupun gross split, Suyitno memandang production sharing masih menjadi model yang terbaik untuk dilakukan.

Direktur Eksekutif Indonesia Petroleum Association Marjolijn Wajong mengatakan kunci untuk menarik kembali minat para investor di sektor migas ialah kerja sama yang baik di semua kementerian yang terlibat di dalamnya. Kementerian Energi dan Sumber Daya Mineral telah memutuskan skemanya, tetapi dari sisi perpajakan, yang menurut catatan diatur Kementerian Keuangan, masih belum jelas.

“Ini semua ada di tangan pemerintah. Kalau semua saling menyalahkan, lalu hanya menunggu saja, tidak akan selesai,”.

Di sisi lain, Kementerian ESDM akan melelang sekitar 15 WK migas pada semester I 2017. Dirjen Migas IGN Wiratmaja Pudja mengatakan pemerintah optimistis skema gross split menjadi daya tarik bagi investor atau kontraktor kontrak kerja sama (KKKS) untuk menggarap sektor hulu migas.

“Semuanya ditawarkan dalam PSC gross split. Itu akan menarik investor untuk ikut lelang, walaupun kita akui kondisi investasi migas memang lagi sulit dengan harga minyak sekarang,” tutur Wiratmaja

Media Indonesia, Page-17, Wednesday, April, 12, 2017

Two Gas Compression Station operates of the Month

The realization of oil and gas upstream investments totaled $ 1.9 billion.

Special Unit of Upstream Oil and Gas (SKK Migas) said there are two new projects that will be operational this month. The project is the Gas Compression Station (SKG) East Musi gas that will produce up to 150 million standard cubic feet per day (MMSCFD), and the elephant Nail SKG capacity of 45 MMSCFD. Two of the project is managed by PT Pertamina EP in South Sumatra.

"The support of all parties is required so that the target of the two projects will not be missed," said Secretary of SKK Migas Budi Agustyono.

SKK Migas also reported six projects in upstream oil and gas operations in the first quarter of this year. One of them Ario Damar-Sriwijaya field, which is managed Tropik Energy Pandan, in Musi Rawas, South Sumatra, which operates at the end of January.

     Ario Damar oil production project was 156 barrels of oil per hari.Proyek else is Kepodang phase II, which worked Petronas Carigali Muriah Ltd. The phase II project aims to maintain production of as much as 116 MMSCFD gas.

However, Budi said the project is still Emitter early stage so that production is not maximized. "From onstream between January and March. Over time, we expect production continues to increase in accordance with the target, "said Budi.

Odira Energy Karang Agung also successfully started production at Ridho Project in Block Karang Agung, South Sumatra, about 278 barrels of oil per day from a total capacity of 2,000 barrels per day. Oil aspirated contractors since mid-February.

PT Pertamina EP also boost production of Tegal Pacing Cikarang project in West Java at the end of February. 5 MMSCFD gas production reached a total capacity of 14 MMSCFD. 

     Another subsidiary, PT Pertamina Hulu Energi, also inaugurated the 12 PHE project in West Madura Offshore block, which produces 203 barrels of oil per day. On the same block, PHE operate the central processing facility 2, which suck up as much as 100 barrels of oil per day. PHE also siphoning 2 MMSCFD gas.

SKK Migas is targeting 16 oil and gas projects could be operational in 2017. These projects, said Budi, will help to achieve the target of oil lifting of 825 thousand barrels per day of gas and 1,275 thousand barrels of oil equivalent per day. Investment up to March reached US $ 1.9 billion.

IN INDONESIAN

Dua Stasiun Kompresi Gas Beroperasi Bulan Ini  

Realisasi investasi hulu migas mencapai US$ 1,9 miliar.

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyatakan ada dua proyek baru yang akan beroperasi bulan ini. Proyek tersebut adalah Stasiun Kompresi Gas (SKG) Musi Timur yang akan menghasilkan gas hingga 150 juta standar kaki kubik per hari (MMSCFD), dan SKG Paku Gajah berkapasitas 45 MMSCFD. Dua proyek ini dikelola PT Pertamina EP di Sumatera Selatan. 

“Dukungan semua pihak diperlukan supaya target dari dua proyek tidak meleset,” kata Sekretaris SKK Migas Budi Agustyono. 

SKK Migas juga melaporkan enam proyek hulu minyak dan gas bumi beroperasi pada kuartal I tahun ini. Salah satunya lapangan Ario Damar-Sriwijaya, yang di kelola Tropik Energi Pandan, di Musi Rawas, Sumatera Selatan, yang beroperasi pada akhir Januari lalu. 

     Produksi minyak proyek Ario Damar masih 156 barel minyak per hari.Proyek lain adalah Kepodang fase II, yang digarap Petronas Carigali Muriah Ltd. Proyek tahap II ini bertujuan mempertahankan produksi gas sebanyak 116 MMSCFD.

Namun Budi mengatakan proyek ini masih daIam tahap awal sehingga produksinya belum maksimal. “Mulai onstream antara Januari dan Maret. Seiring dengan berjalannya waktu, kami berharap produksinya terus meningkat sesuai dengan yang ditargetkan,” ujar Budi.

Odira Energy Karang Agung juga berhasil memulai produksi di Proyek Ridho di Blok Karang Agung, Sumatera Selatan, sebanyak 278 barel minyak per hari dari kapasitas total 2.000 barel per hari. Minyak disedot kontraktor sejak pertengahan Februari lalu.

PT Pertamina EP juga menggenjot produksi proyek Cikarang-Tegal Pacing di Jawa Barat pada akhir Februari. Produksi gasnya mencapai 5 MMSCFD dari kapasitas total 14 MMSCFD. 

      Anak usaha lainnya, PT Pertamina Hulu Energi, juga meresmikan proyek PHE 12 di Blok West Madura Offshore, yang menghasilkan minyak 203 barel per hari. Di blok yang sama, PHE mengoperasikan central processing facility 2, yang menyedot minyak sebanyak 100 barel per hari. PHE juga menyedot gas 2 MMSCFD.

SKK Migas menargetkan 16 proyek migas bisa beroperasi pada 2017. Proyek-proyek ini, kata Budi, akan membantu pencapaian target lifting minyak sebesar 825 ribu barel per hari dan gas 1.275 ribu barel setara minyak per hari. Investasi hingga Maret lalu mencapai US$ 1,9 miliar.

Koran Tempo, Page-21, Wednesday, April, 12, 2017

Pertamina pushes for more efficiency

State-owned energy giant Pertamina aims to save up to US$100 million through the introduction of efficiency measures in the company’s integrated supply chain (ISC) activities.

Pertamina ISC senior vice president Daniel Purba said the company expected to reach the target by for example, finding cheaper suppliers and optimizing the newly upgraded facilities in Tanjung Uban and the Sambu islands, both in Riau Islands, to manage its own fuel blending process in an attempt to reduce imports of finished fuel products.

“We will also import more crude oil from Asia, because we can obtain better margins there,”

Daniel said recently Pertamina’s ISC activities covers the trading, procurement and distribution of crude oil, gas and fuel. Last month, Finance Minister Sri Mulyani Indrawati issued a ministerial regulation revoking the imposition of income tax for oil obtained from Indonesian Fields but sold by a contractors trading arm overseas. 

Previously the government charged 3 percent of income tax for oil transactions using such a scheme. However, it is common for foreign contractors to sell their oil through trading arm subsidiaries located abroad. Pertamina sees the change in regulations as an opportunity to boost domestic crude oil supply.

Daniel said the company, for this year, was planning to secure 181.3 million barrels of oil from domestic procurement, a slight increase from the 176.6 million barrels secured in 2016.

“With the revocation of the income tax rule, we expect there to be more contractors that are willing to sell their oil to us,” he said. Pertamina’s ISC unit was established in 2015 after the dissolution of its Singapore-based subsidiary Petral, the operation of which was cancelled as a result of allegations of corruption and illicit practices in procurement. 

Daniel previously served as Petral’s vice president. According to Pertamina, the unit has earned $523 million in efficiency from the introduction of streamlined fuel procurement. The full liquidation of Petral, meanwhile, is still pending the debt clearance of its two subsidiaries, namely Zambesi Investment Ltd., established in 1979 and based in Hong Kong, and Pertamina Energy Services Pte. Ltd., which was created in 1992 and incorporated in Singapore.

Jakarta Post, Page-15, Wednesday, April, 12, 2017

As of March, Pertamina Oil Production Reaches 95% of target

PT Pertamina EP posted a subsidiary of PT Pertamina oil production of 80 727 barrels per day (bpd) by March, or just 95% of this year's target of 85 thousand bpd. Realization of gas production is still below the target, which is 961.6 million standard cubic feet per day / MMSCFD or 93% of the target of 1,041 MMSCFD.

Pertamina EP is optimistic to achieve the target of oil and gas production this year. Daily Acting President Director of Pertamina EP Nanang Abdul Manaf said it has made various efforts to optimize to achieve production targets this year. Thus, some of the field oil and gas production rose significantly.

Until the first quarter, Pertamina EP can withstand the natural production decline rate of 20% per year and maintain production levels the range of 80 thousand bpd. "We are optimistic to meet the target in 2017 amounted to 85 thousand bpd," he said

Fields with this positive performance which Jatibarang Field. Increased production is obtained from wells or repair results Working Repeat Move Layer (KUPL) XA 09 wells offshore platform in the field of initial production rate XRAY in the range of 87 bpd to 2,781 bpd.

In addition, the performance of Rantau Field also showed a positive trend, Field Overseas production increased from 2,100 bpd at the beginning of the year to 2,831 bpd in early April 2017 with the achievement of 127% against a target. The increase in production obtained from five wells repair work and one well drilling.

3 Assets Pertamina EP includes Jatibarang Field, will be the backbone of Pertamina EP to achieve the internal target of 100 thousand barrels per day, along with the General Manager of Asset Asset 5. 3 Vishnu Hindadari said Jatibarang Field is targeted to produce oil by 10 551 bpd this year.

As of April, the realization of production has reached 7318 barrels of oil and 50.43 MMSCFD of gas. As for the structure of the backbone of production in Jatibarang Field is X-Ray Structure which is the offshore field and Jatibarang structure, as well as the Coral Complex and Pine for onshore field.

Jatibarang Field Manager Herman Rachmadi explained, the production target this year is mainly focused on the structure Jatibarang and structure of X-Ray "On the Structure Jatibarang will do drilling, fracturing and well intervention in volcanic layer while in Structure X-Ray focused on the repair and production optimization in layer X ~ 26 X-25, X-34 and X-35 ", he said.

Exploration commitment

Nana added, in addition to the production performance, seismic performance also showed a positive trend. Until the end of March 2017, the realization of 2D Seismic reached 426 kilometers, or 48% of the target along 833 kilometers. While 3D seismic has been realized 171 square kilometers or 26% of the target of 669 square kilometers.

Pertamina EP is committed to add reserves to ensure increased oil and gas production. For drilling, exploration, the company has completed the drilling of three wells and is currently working on six other wells that have started in the first quarter. "So the target of exploration wells by 12 wells can we accomplish by the end of 2017", he said.

According to Nana, discover trends in the future lies in Eastern Indonesia. It had entered the region, namely by conducting seismic Klamasosa, along 500 kilometers of West Papua. This year, seismic will be added along the 200 kilometers and 300 kilometers in 2018 continued.

Furthermore, Nana added that Pertamina EP also obtain exploration wells findings Piraiba in Tanjung South Kalimantan in 2014 ago. "Seeing the potential of the Piraiba well, this year we entered the seismic activity in Tanjung South Kalimantan with a total target of 350 kilometers. Then we will add 2D seismic data in the area of ​​the Cape Areas of the West, "he said.

Related Seismic Area Kupalanda Bintuni, West Papua that has been started since 2016, it targets should derive a significant amount of reserves. Because, if the findings of a small reserve, it will not be economical, given the enormous efforts made because the area is a majority of the swamp.

IN INDONESIAN

Per Maret, Produksi Minyak Pertamina Capai 95% dari Target

PT Pertamina EP anak usaha PT Pertamina membukukan produksi minyak sebesar 80.727 barel per hari (bph) per Maret lalu, atau baru 95% dari target tahun ini 85 ribu bph. Realisasi produksi gas juga masih di bawah target, yaitu 961,6 million standard cubic feet per day/mmscfd atau sebesar 93 % dari target 1.041 mmscfd.

Pertamina EP optimistis dapat mencapai target produksi migas tahun ini. Pelaksana Tugas Harian Presiden Direktur Pertamina EP Nanang Abdul Manaf mengatakan, pihaknya telah melakukan berbagai upaya optimalisasi untuk mencapai target produksi tahun ini. Sehingga, produksi migas beberapa lapangan naik cukup signifikan.

Sampai Triwulan 1 ini, Pertamina EP dapat menahan laju penurunan produksi alamiah sebesar 20% per tahun dan menjaga tingkat produksi dikisaran 80 ribu bph. “Kami optimis untuk memenuhi target 2017 sebesar 85 ribu bph,” kata dia 

Lapangan dengan kinerja positif ini yakni Jatibarang Field. Peningkatan produksi 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 bph menjadi 2.781 bph.

Selain itu, kinerja Rantau Field juga menunjukkan tren positif, produksi Rantau Field mengalami kenaikan dari 2.100 bph pada awal tahun menjadi 2.831 bph pada awal April 2017 dengan pencapaian 127% terhadap target. Peningkatan produksi didapatkan dari pekerjaan lima sumur reparasi dan satu sumur pengeboran.

Aset 3 Pertamina EP termasuk di dalamnya Lapangan Jatibarang, akan menjadi tulang punggung Pertamina EP untuk mencapai target internal 100 ribu bph, bersama Aset 5. General Manager Asset 3 Wisnu Hindadari menuturkan, Lapangan Jatibarang ditargetkan bisa memproduksi minyak sebesar 10.551 bph pada tahun ini. 

Per April ini, realisasi produksinya telah mencapai 7.318 bph untuk minyak dan 50,43 mmscfd untuk gas. Adapun struktur yang menjadi backbone produksi di Jatibarang Field adalah Struktur X-Ray yang merupakan lapangan offshore dan Struktur Jatibarang, serta Karang Komplek dan Cemara untuk lapangan onshore.

Jatibarang Field Manager Herman Rachmadi menjelaskan, pencapaian target produksi tahun ini terutama difokuskan pada Struktur Jatibarang dan Struktur X-Ray “Di Struktur Jatibarang akan dilakukan pemboran, fracturing dan well intervention di lapisan vulkanik sedangkan di Struktur X-Ray difokuskan pada reparasi dan optimasi produksi di lapisan X~26, X-25, X-34 dan X-35”, ujarnya.

Komitmen Eksplorasi

Nanang menambahkan, selain capaian produksi tersebut, kinerja Seismik juga menunjukkan tren yang positif. Hingga akhir Maret 2017, realisasi Seismik 2D tercatat mencapai 426 kilometer, atau 48% dari target sepanjang 833 kilometer. Sementara seismik 3D sudah terealisasi 171 kilometer persegi atau 26% dari target sebesar 669 kilometer persegi. 

Pertamina EP berkomitmen menambah cadangan untuk memastikan peningkatan produksi migas. Untuk kegiatan pemboran eksplorasi, pihaknya sudah menyelesaikan pengeboran tiga sumur dan sedang mengerjakan 6 sumur lainnya yang telah dimulai pada kuartal pertama lalu. “Jadi target sumur eksplorasi sebanyak 12 sumur dapat kami selesaikan hingga akhir tahun 2017", tegasnya.

Menurut Nanang, tren eksplorasi ke depannya terletak di Kawasan Timur Indonesia. Pihaknya telah masuk kawasan ini, yakni dengan melakukan seismik di Klamasosa, Papua Barat sepanjang 500 kilometer. Tahun ini, seismik akan ditambah sepanjang 200 kilometer dan dilanjutkan 300 kilometer pada 2018.

Lebih lanjut, Nanang menambahkan, Pertamina EP juga mendapatkan temuan eksplorasi di Sumur Piraiba di Tanjung Kalimantan Selatan pada 2014 lalu. “Melihat potensi dari sumur Piraiba tersebut, tahun ini kami masuk kegiatan seismik di Tanjung Kalimantan Selatan dengan target total 350 kilometer. Kemudian kami akan menambah data seismik 2D di area Tanjung Area Barat,” jelasnya.

Terkait Seismik Kupalanda di Area Bintuni, Papua Barat yang sudah di mulai sejak 2016, pihaknya menargetkan harus memperoleh cadangan yang besarnya signifikan. Pasalnya, apabila temuan cadangannya kecil, maka tidak akan ekonomis, mengingat upaya yang dilakukan sangat besar karena areanya mayoritas merupakan rawa.

Investor Daily, Page-9, Wednesday, April, 12, 2017

In May, Pertamina Acquires ExxonMobil in Blue Tiung

PT Pertamina, through its subsidiary, PT Pertamina EP Cepu (PEPC), expects to take over the rights of participation in the Project ExxonMobil Jambaran Tiung Blue in May. The acquisition is to ensure the project can begin to produce oil and gas (on stream) in 2020

This is a follow-up letter of the Minister of Energy and Mineral Resources No. 9/13 / MEM.M / 2017 dated January 3, 2017 ordered Pertamina to develop a full and complete discussion ITB field with ExxonMobil through business scheme (business to business / b to b). Pertamina has started this business negotiations step by ExxonMobil.

Director of PEPC Adriansyah said, through negotiations, ExxonMobil's management rights Jambaran-Tiung Blue will be transferred to it. In March, the company and ExxonMobil have signed an Interim Agreement, which agreed that both must harmonize technical matters relating to the acquisition of participation rights. "May we are targeting the negotiation has been completed, the existing settlement agreement," he said.

The scheme will be carried out by Pertamina, the sole permanent risk. This means the right of participation will be appreciated commercially ExxonMobil suit prevailing business practices. Furthermore, so no compensation or payment, ExxonMobil will no longer have the right to re-engage in the management of project-Tiung Jambaran Blue.

Adriansyah explained, of negotiations that has been running, the company and ExxonMobil have synchronized several economic parameters as the basis of calculation of the value of the participation rights. While some things that have not been agreed that the discount rate and interpretations about taxation. These are things that must be resolved so that existing participation rights takeover decision in May.

"May need to be completed for the Project Blue Jambaran-Tiung should begin later this year in order to be on stream in 2020. If not, then the project will change the economic profile, as well as the price of gas. So that could be an even longer process, "said Adriansyah. Each one-year production schedule delays resulting IRR called down the value of more than 2%.

This is because of his cooperation contract expires in 2035. Jambaran Field is part of the Cepu Block operated by ExxonMobil. However, for Jambaran-Tiung Project Blue, PEPC is the operator for most field Tiung Fields connected with Blue PT Pertamina EP. Currently, the ownership rights to participation in Cepu itself that PEPC 45%, Ampolex 24.5%, ExxonMobil 20.5%, and ROE 10%.

Senior Vice President Upstream Business Development Denie S Tampubolon PT Pertamina said, the company has a budget for the acquisition of upstream oil and gas assets, including rights to take over ExxonMobil's participation in Jambaran Field. "If it is a strategic project, the budget must have prepared," he said.

Meanwhile, related to the sale of gas produced from the Project Jambaran-Tiung Blue, will be finalized once an agreement is reached with ExxonMobil. According Ardiansyah. it had obtained a letter allocations to gas-Tiung Jambaran Project Blue of PT Pupuk Kujang Cikampek to Pertamina. 

     Thus, the gas produced by 172 million standard cubic feet per day / MMSCFD. It also has set up a gas sales agreement (GSA) with the company. "Finalization of the GSA, we are targeting in the second quarter in 2017," he said.

This year, Pertamina EP Cepu has to spend approximately US $ 100 million to continue construction projects Jambaran Field unitization-Tiung Blue. Budget is not too large because of the activities carried out this year has not been a lot of construction activity.

Activities conducted the engineering construction (engineering), preparation, and the release of a small portion of land required. Field development is currently under implementation EPC ITB Early Civil Work (ECW). "If all is ok, we are committed to complete as soon as possible because the contract with the EPC contractor has been prepared," said Ardiansyah.

Blue-Tiung Jambaran field can produce gas for up to 320 million standard cubic feet per day / MMSCFD. However, the carbon dioxide content of 30%, a clean gas which can be used is only about 180-185 MMSCFD.

IN INDONESIAN

Mei, Pertamina Ambil Alih Saham ExxonMobil di Tiung Biru

PT Pertamina melalui anak usahanya, PT Pertamina EP Cepu (PEPC), menargetkan dapat mengambilalih hak partisipasi ExxonMobil di Proyek Jambaran Tiung Biru pada Mei nanti. Akuisisi ini untuk memastikan proyek tersebut dapat mulai menghasilkan migas (on stream) pada 2020

Hal ini adalah sebagai tindak lanjut Surat Menteri ESDM No 9/13/ MEM.M/ 2017 tertanggal 3 Januari 2017 yang memerintahkan Pertamina untuk mengembangkan secara penuh lapangan ITB dan menyelesaikan pembahasan dengan ExxonMobil melalui skema bisnis (business to business/b to b). Pertamina telah memulai langkah negosiasi bisnis ini dengan ExxonMobil.

Direktur Utama PEPC Adriansyah menuturkan, melalui negosiasi tersebut, hak kelola ExxonMobil untuk Jambaran-Tiung Biru akan dialihkan ke pihaknya. Pada Maret lalu, pihaknya dan ExxonMobil telah meneken Interim Agreement yang menyepakati bahwa keduanya harus menyelaraskan hal-hal teknis berkaitan dengan pengambilalihan hak partisipasi ini. “Mei nanti kami targetkan negosiasi sudah selesai, sudah ada settlement agreement,” kata dia 

Skema yang akan dilakukan Pertamina, yakni permanent sole risk. Hal ini berarti hak partisipasi ExxonMobil akan dihargai secara komersil sesuai praktik bisnis yang berlaku. Selanjutnya, begitu ada kompensasi atau pembayaran, ExxonMobil tidak lagi memiliki hak untuk kembali terlibat dalam pengelolaan Proyek Jambaran-Tiung Biru.

Adriansyah menjelaskan, dari negosiasi yang telah berjalan, pihaknya dan ExxonMobil telah menyelaraskan beberapa parameter keekonomian yang dijadikan dasar perhitungan nilai hak partisipasi tersebut. Sementara beberapa hal yang belum disepakati yakni soal discount rate dan interpretasi perpajakan. Hal-hal inilah yang harus diselesaikan sehingga sudah ada keputusan pengambilalihan hak partisipasi pada Mei.

“Mei harus selesai karena Proyek jambaran-Tiung Biru harus di mulai tahun ini juga supaya on stream pada 2020. Jika tidak, maka profil keekonomian proyek akan berubah, demikian juga harga gasnya. Sehingga bisa jadi lebih panjang lagi prosesnya,” kata Adriansyah. Setiap penundaan jadwal produksi satu tahun disebutnya mengakibatkan IRR turun nilai lebih dari 2%. 

Hal ini lantaran kontrak kerja samanya berakhir pada 2035. Lapangan Jambaran merupakan bagian dari Blok Cepu yang di operasikan oleh ExxonMobil. Namun, untuk Proyek Jambaran-Tiung Biru, PEPC menjadi operator karena sebagian lapangannya terhubung dengan Lapangan Tiung Biru milik PT Pertamina EP. Saat ini, untuk kepemilikan hak partisipasi di Blok Cepu sendiri yakni PEPC 45%, Ampolex 24,5%, ExxonMobil 20,5%, dan BUMD 10%. 

Senior Vice President Upstream Business Development Denie S Tampubolon PT Pertamina menuturkan, perseroan memiliki anggaran untuk akuisisi aset hulu migas, termasuk untuk mengambilalih hak partisipasi ExxonMobil di Lapangan jambaran. “Kalau memang proyeknya strategis, anggarannya pasti disiapkan,” ujar dia.

Sementara itu, terkait penjualan gas yang dihasilkan dari Proyek Jambaran-Tiung Biru, akan diselesaikan begitu tercapai kesepakatan dengan ExxonMobil. Menurut Ardiansyah. pihaknya sudah memperoleh surat yang mengalihkan alokasi gas Proyek Jambaran-Tiung Biru dari PT Pupuk Kujang Cikampek ke Pertamina. 

     Sehingga, gas yang diproduksikan sebesar 172 million standard cubic feet per day/mmscfd. Pihaknya juga sudah menyiapkan perjanjian jual beli gas (PJBG) dengan perseroan. “Finalisasi PJBG kami targetkan di kuartal kedua di 2017,” ujar dia.

Tahun ini, Pertamina EP Cepu telah menyiapkan dana sekitar US$ 100 juta untuk melanjutkan pengerjaan Proyek Unitisasi Lapangan Jambaran-Tiung Biru. Anggaran tidak terlalu besar lantaran kegiatan yang dilakukan pada tahun ini belum banyak kegiatan konstruksi. 

Aktifitas yang dilakukan yakni pengerjaan rekayasa (engineering), persiapan, dan pembebasan sebagian kecil lahan yang dibutuhkan. Saat ini pengembangan Lapangan ITB sedang dalam pelaksanaan EPC Early Civil Work (ECW). “Kalau semua sudah ok, kami berkomitmen selesaikan secepatnya karena kontrak dengan kontraktor EPC sudah disiapkan,” kata Ardiansyah.

Lapangan Jambaran-Tiung Biru bisa menghasilkan gas hingga 320 million standard cubic feet per day/ mmscfd. Namun dengan kandungan karbondioksida sebesar 30%, gas bersih yang bisa digunakan hanya sekitar 180-185 mmscfd.

Investor Daily, Page-9, Wednesday, April, 12, 2017