Make sure the Well Treatment Does Not Disturb Gas Distribution

Petroleum and Gas Field Operators Pertamina Exploration and Production (EP) Asset IV Field Cepu ensures well maintenance activities will not disturb the distribution of city gas. The operator plans to take care of CPP Block Gundih. The plan to care for the well will be done for 20 days.

This is done so that maintenance activities based on risk inspection (RBI / Risk Base Inspection) for continuity of CPP operation can be maintained well. Nevertheless the operator remains committed to meet the amount of gas supply of 50 MMSCFD to Indonesia Power through PT. SPP.

Although it is in a state of shutdown, the supply of gas for the needs of this community we keep the continuity with support on the part of PGN, "said General Manager of Pertamina Asset W, Didik Susilo.

Pertamina EP Asset 4 management has also held a ceremony with residents around drilling at Central Processing Plant (CPP) Gundih Block in Sumber Village, Kradenan Sub-district, Blora Regency. The event was attended by representatives of residents in six villages around the site, ie from Sumber Village, Wado, Pulo, Temulus, Sumberejo, and Curse Village.

In addition to inviting residents, about 150 orphans, also muspika and community leaders also attended. According to Field Manager of Pertamina EP Asset IV Cepu, Agus Amperianto, in addition to thanksgiving, the event is also to maintain good relations and positive relationship with the local community. We also provide compensation to 150 orphans living in the vicinity of the CPP operation area, as well as security and security training and security agenda for the surrounding community.

IN INDONESIAN

Pastikan Perawatan Sumur Tak Ganggu Penyaluran Gas

Operator Lapangan Minyak dan Gas Bumi (Migas) Pertamina Eksplorasi dan Produksi (EP) Asset IV Field Cepu memastikan kegiatan perawatan sumur tidak akan menggangu penyaluran city gas. Operator berencana melakukan perawatan CPP Blok Gundih. Rencananya perawatan sumur itu akan dilakukan selama 20 hari. 

Hal itu dilakukan agar kegiatan pemeliharaan berdasarkan inspeksi resiko (RBI/Risk Base Inspection) untuk kelangsungan operasi CPP dapat terjaga dengan baik. Meskipun demikian pihak operator tetap komitmen memenuhi jumlah pasokan gas 50 MMSCFD kepada Indonesia Power melalui pipa PT. SPP.

      Meskipun sedang dalam keadaan shutdown, pasokan gas untuk kebutuhan masyarakat ini tetap kami jaga kelangsungannya dengan support dipihak PGN," kata General Manajer Pertamina Asset W, Didik Susilo.

Manajemen Pertamina EP Asset 4 juga sudah menggelar syukuran dengan warga sekitar pengeboran di Central Processing Plant (CPP) Blok Gundih di Desa Sumber, Kecamatan Kradenan, Kabupaten Blora. Kegiatan itu dihadiri perwakilan warga yang ada di enam desa sekitar lokasi, yakni dari Desa Sumber, Wado, Pulo,Temulus, Sumberejo, dan Desa Kutukan. 

Selain mengundang warga, sekitar 150 anak yatim piatu, juga muspika dan tokoh masyarakat turut hadir. Menurut Field Manager Pertamina EP Asset IV Cepu, Agus Amperianto, selain syukuran, acara tersebut juga untuk menjaga hubungan baik dan silaturahim positif dengan masyarakat setempat. Kita juga memberikan santunan kepada 150 anak yatim yang tinggal di sekitar daerah operasi CPP, serta agenda dan kegiatan pelatihan keamanan & pengamanan bagi masyarakat sekitar.

Harian Bangsa, Page-9, Saturday, May, 6, 2017

Oil, gas lobby group renews call to salvage industry

Over the past three years, investment in the upstream oil and gas sector has plunged to almost half of the usual figure of more than US$20 billion, and the industry has seen some 50,000 layoffs as well as a persistent decline in oil production.

While the blame partly lies with low oil prices, some of the factors may stem from inherent problems that have reduced the appetite of foreign oil and gas investors for new projects in Indonesia.

From policy changes that have severely impacted Japan’s $19 billion investment in the gas-rich Masela Block in Maluku to the replacement of decades-long production-sharing contracts (PSC) for a new scheme that is deemed unattractive, the oil and gas industry has faded into the twilight.

The Indonesian Petroleum Association (IPA), which groups major local and foreign oil and gas companies, has called on the government to take the issues in the industry seriously after seeing no progress in the past three years in the attempts to increase global investor confidence in Indonesia.

“With fewer than two years left [for the administration, there’s not much to be done other than try to improve confidence as soon as possible by creating investment-friendly policies,” IPA executive Marjolijn Wajong of Santos Ltd., said recently.

“In almost all discussions with the government, there is no narrative to ensure the policy will make Indonesia more competitive,” she said.

The 2016 Policy Perception Index survey released by Canadian think tank the Fraser Institute positioned Indonesia at 79th out of 96 jurisdictions with a reserve replacement ratio (RRR) of 51 percent, indicating the country’s poor investment climate in the oil and gas sector.

The RRR measures the amount of proven reserves that a company adds to its reserves to replace those produced. The industry has been particularly worried recently by the governments' insistence on oil and gas contractors adopting the so-called gross split scheme to replace the PSC regime, which is widely believed to be less attractive.

The gross-split sliding scale was introduced earlier this year and ended the government’s need to reimburse investors’ exploitation activities and therefore exempt investors from long negotiations on the value of their activities with the Upstream and Oil Gas Regulatory Special Task Force. 

However, the gross split is deemed unattractive as companies risk losing a lot of money for exploration in Indonesian areas that are mostly considered as frontier with difficult terrain and where most of the reserves are in deep water. 

“It’s not that we oppose the scheme. It’s a matter of how to make it competitive and attractive for investors. If the ‘carrot’ is not attractive, will the ‘rabbit’ want to seek it out?” another IPA executive Sammy Hamzah of

Ephindo Energy Pte Ltd. said. 

The success rate of the gross split scheme will be determined in the upcoming announcement of winners for the auction of 14 unconventional and conventional blocks on offer. The announcement itself has been delayed from March.

In 2015, a year after Jokowi took office, there was no winner from the auction of 11 oil and gas blocks. Last year was little different with only one winner determined for 17 conventional and unconventional blocks offered. In comparison, during the 2012-2014 period, there were 89 winners from the auction of a total 50 blocks.

IPA executive Ignatius Tenny Wibowo of Santos Sampang Pty Ltd. said the downward trend might have occurred because there had been no long-term solutions, particularly in terms of regulations.

He quoted Energy and Mineral Resources Minister Ignasius Jonan who once said that Indonesia could rely on imports if the cost of oil lifting the colloquial term for ready-to-sell production was too high.

“That’s easier to say than to face the reality,” Tenny said. “Just imagine, what if suddenly the oil price reaches $200a barrel? What will be the impact for us?” Since taking office in late 2014, President Joko “Jokowi” Widodo has pledged to make the business environment in Indonesia more competitive in order to attract foreign investors.

Red tape has been cut in a deregulation drive, but the oil and gas industry has been largely left: out. However, the President’s main priority for the industry has been to boost efficiency and transparency by launching crackdowns on the so-called “oil and gas mafia", overhauling personnel in the Energy and Mineral Resources Ministry as well as cutting brokerage activities in state oil and gas company PT Pertamina.

Another concern in the industry is a policy to force Pertamina to take over expired concession areas, with analysts indicating that the company will be biting off more than it can chew and the policy being perceived as an attempt at “nationalization”.

As many as 23 cooperation contracts will expire within the next five years, with Pertamina projected to take them all over. The IPA hopes to raise the issue in its upcoming 415' convention and exhibition, one of the biggest energy get-togethers in Southeast Asia, which will take place on May 17 and 19 at the Jakarta Convention Center. 

The annual convention, where all stakeholders and policy makers gather to.discuss challenges as well as opportunities, has never been attended by Jokowi, which many industry players regard as a sign of the President’s lack of interest in the sector at a time when domestic oil output is on a steady decline and the country which used to be an oil exporter, heavily reliant on imports for its energy security for the next decade.

“The potential for Indonesian oil and gas is still there, but it has to compete for global capital, which it is unable to do at the moment,” said IPA executive Michael Putra of Shell Upstream Indonesia Services.

“Yes, the oil price decline is a factor in it. But other countries like Mexico manage to get investment. So it’s not just about the oil price. Indonesia has an inherent problem to make it more competitive.”

Jakarta Post, Page-13, Friday, May, 5, 2017

The average price of ICP in April was US $ 49.56 Per Barrel

The Ministry of Energy and Mineral Resources noted that Indonesia's crude oil / ICP price in April 2017 was US $ 49.56 per barrel, up US $ 0.85 compared to March 2017 of US $ 48.71 per barrel.

Based on data from the Directorate General of Oil and Gas at the Ministry of Energy and Mineral Resources in Jakarta, the rise in ICP is in line with the development of major crude oil prices in the international market. Recorded, Brent oil price (ICE) rose US $ 1.28 per barrel from US $ 52.54 to US $ 53.82 per barrel. Then, the type of WTI (Nymex) rose US $ 1.45 from US $ 49.67 to US $ 51.12 per barrel. While the OPEC basket (basket) rose US $ 1.15 from US $ 50.32 to US $ 51.47 per barrel.

The Oil Price Team of the Ministry of Energy and Mineral Resources added that the major crude price increase in the international market was due, among others, based on the April 2017 International Energy Agency (IEA) publication, a decline in world oil production by OPEC and non-OPEC countries by 755 thousand barrels Per day in March to 95.98 million barrels per day.

Another factor, according to the Energy Information Administration (EIA) publication, the inventory of commercial crude and US distillate stocks on April 21, 2017 is lower than March 31, 2017. The details, for US commercial crude oil inventories fell by 6.8 million barrels to 528.7 million US barrels and distillates fell 1.5 million barrels to 158.2 million barrels. The increase in "crude" prices is also due to an increased geopolitical risk between the US and Syria.

Furthermore, OPEC also revised the world oil demand in 2017 to 96.32 million barrels per day or an increase of 1.27 million barrels per day compared to 2016. Another factor is the decline in world crude oil supply by 0.23 million barrels in March 2017 to 95, 82 million barrels, and the commercial inventories of OECD countries in February 2017 fell 28.3 million barrels to 2,987 million barrels.

IN INDONESIAN

Harga ICP April Rata-rata US$ 49,56 Per Barel

Kementerian ESDM mencatat harga minyak mentah Indonesia/ICP pada April 2017 sebesar US$ 49,56 per barel atau naik US$ 0,85 dibandingkan Maret 2017 sebesar US$ 48,71 per barel.

Berdasarkan data Direktorat Jenderal Migas Kementerian ESDM di Jakarta, kenaikan ICP tersebut seiring perkembangan harga minyak mentah utama di pasar internasional.  Tercatat, harga minyak jenis Brent (ICE) naik US$ 1,28 per barel dari US$ 52,54 menjadi US$ 53,82 per barel. Lalu, jenis WTI (Nymex) naik US$ 1,45 dari US$ 49,67 menjadi US$ 51,12 per barel. Sedangkan keranjang (basket) OPEC naik US$ 1,15 dari US$ 50,32 menjadi US$ 51,47 per barel.

Tim Harga Minyak Kementerian ESDM menambahkan peningkatan harga “crude” utama di pasar internasional itu disebabkan antara lain, berdasarkan publikasi International Energy Agency (IEA) edisi April 2017, terdapat penurunan produksi minyak dunia oleh negara-negara OPEC dan non-OPEC sebesar 755 ribu barel per hari pada bulan Maret menjadi 95,98 juta barel per hari.

Faktor lainnya, berdasarkan publikasi Energy Information Administration (EIA) , persediaan minyak mentah komersial dan stok distilat AS pada 21 April 2017 lebih rendah dibandingkan 31 Maret 2017. Rinciannya, untuk persediaan minyak mentah komersial AS turun 6,8 juta barel menjadi 528,7 juta barel dan distilat AS turun 1,5 juta barel menjadi 158,2 juta barel. Peningkatan harga “crude” juga akibat peningkatan risiko geopolitik antara AS dan Suriah.

Selanjutnya, OPEC juga merevisi permintaan minyak dunia pada 2017 menjadi 96,32 juta barel per hari atau meningkat sebesar 1,27 juta barel per hari dibandingkan 2016. Faktor lainnya penurunan suplai minyak mentah dunia sebesar 0,23 juta barel pada Maret 2017 menjadi 95,82 juta barel ,dan persediaan komersial negara-negara OECD pada Februari 2017 turun 28,3 juta barel menjadi 2.987 juta barel.

Investor Daily, Page-9, Friday, May, 5, 2017

PLN Gas Procurement Auction for Generating 200 MMSCFD

PT PLN targets auction of LNG gas procurement for power plants in central Indonesia, completed later this year. PLN requires contractors to supply and prepare gas infrastructure with a total volume of 200 million standard cubic feet per day / mmscfd.

Director of Procurement PLN Supangkat Iwan Santosa said the gas procurement auction is now underway. It is still waiting for the bid proposal from the auction participants. The auction is due to be completed this year.

Based on the record, the auction of supply procurement and gas infrastructure for Central Indonesia has been started by PLN since last year. PLN targeted the auction last year. So that gas supply can be realized starting 2019.

Iwan admitted, the auction was delayed due to changes in the project. Initially, PLN sought 230 mmscfd of gas supply for several clusters in East Kalimantan and South Kalimantan. There were 8 power plants with 50 mmscfd, Sulawesi 14 power plants with 120 mmscfd and Nusa Tenggara 10 power plants where the gas requirement amounted to 60 mmscfd.

However, it later separated gas supplies for Bali, Gorontalo, and Pontianak from this project. Thus, the required gas supply is not as big as the original plan. Reduced approximately 30 mmscfd.

In addition, the Asian Development Bank (ADB) as a funder requests for changes to make the project more effective and efficient. Among them, ADB requested that the period of built-operate-transfer (BOT) schemes be changed to 10 years. Then also direct storage and regasification facilities diverted, BOT PLN.

As is known, in this auction, potential investors should be able to guarantee gas supply while providing infrastructure and transportation. This scheme was taken because to supply Central Indonesia with small and dispersed generators, the required gas supply must be entirely in the form of LNG.

Later, investors have to build LNG Hub to accommodate LNG on a medium scale, providing ships that will distribute it to PLN plants, including building regasification facilities near power stations. This method makes LNG project becomes more economical because the volume is not too small.

For its infrastructure, PLN will use a built-operate-transfer (BOT) scheme in which after a certain period will belong to the company. While the gas supply contract remains the same as the usual contract. PLN will not limit the LNG to be domestic, which is important the price offered is competitive.

Meanwhile, despite a change of auction schedule, Head of Oil and Gas Division of PLN Chairani confirmed that the project completion target has not changed, it is targeted to be completed by 2019.

So far, PLN has set 11 consortiums of companies that have passed prequalification. The 11 participants who passed the prequalification were PT Pertamina, Osaka Gas Co Ltd, PT Medco Energi International Tbk, Natural Gas Fenosa SDG SA, Marubeni Corporation, and Socar Petroleum SA consortium, PT Humpuss Transportasi Kimia, PT PP Tbk and Pl Toba Prosperous.

The other participants included the consortium of PT Bukaka Teknik Utama Tbk, Tokyo Gas Co Ltd and Mitsui Co Ltd, a consortium of PT Perusahaan Gas Negara and International Power Ltd, a consortium of Itochu Corporation and PT Energasindo Heksa Karya, a consortium of Shell Gas & Power Development BV and PT Energi Dian Kemala, and a consortium of Mitsubishi Corporation, Brunei National Petroleum Company Sdn Bhd and Diamond Gas International Pte Ltd.

IN INDONESIAN

PLN Lelang Pengadaan Gas untuk Pembangkit 200 MMSCFD

PT PLN menargetkan Ielang pengadaan gas alam cair/LNG untuk pembangkit di Indonesia bagian tengah, selesai akhir tahun ini. PLN membutuhkan kontraktor yang akan memasok dan menyiapkan infrastruktur gas dengan total volume 200 million standard cubic feet per day/mmscfd.

Direktur Pengadaan PLN Supangkat Iwan Santosa mengatakan, lelang pengadaan gas tersebut kini sedang berlangsung. Pihaknya kini masih menunggu proposal penawaran dari para peserta lelang. Sedianya lelang akan diselesaikan tahun ini juga. 

Berdasarkan catatan, lelang pengadaan pasokan dan infrastruktur gas untuk Indonesia Tengah ini sudah dimulai PLN sejak tahun lalu. PLN sempat menargetkan lelang selesai tahun lalu. sehingga pasokan gas dapat direalisasikan mulai 2019.

Iwan mengakui, lelang tertunda karena ada perubahan dalam proyeknya. Awalnya, PLN mencari pasokan gas sebesar 230 mmscfd untuk beberapa kluster yang dalam wilayah Kalimantan Timur dan Kalimantan Selatan terdapat 8 unit pembangkit dengan kebutuhan 50 mmscfd, Sulawesi 14 unit pembangkit, dengan kebutuhan 120 mmscfd, dan Nusa Tenggara 10 unit pembangkit di mana kebutuhan gasnya sebesar 60 mmscfd.

Namun, pihaknya kemudian memisahkan pasokan gas untuk Bali, Gorontalo, dan Pontianak dari proyek ini. Sehingga, pasokan gas yang dibutuhkan tidak sebesar rencana awal. Berkurang kira-kira 30 mmscfd.

Selain itu, Asian Development Bank (ADB) sebagai penyandang dana meminta untuk dilakukan perubahan supaya proyek lebih efektif dan efisien. Diantaranya, ADB meminta jangka waktu skema built-operate-transfer (BOT) diubah menjadi 10 tahun. Kemudian juga fasilitas storage dan regasifikasi langsung dialihkan, BOT PLN.

Seperti diketahui, dalam lelang ini, calon investor harus bisa menjamin pasokan gas sekaligus menyediakan infrastruktur dan transportasinya. Skema ini diambil karena untuk memasok Indonesia Tengah yang pembangkitnya kecil-kecil dan tersebar, pasokan gas yang dibutuhkan seluruhnya harus dalam bentuk LNG.

Nantinya, investor harus membangun LNG Hub untuk menampung LNG dalam skala menengah, menyediakan kapal yang akan mendistribusikannya ke pembangkit-pembangkit PLN, termasuk membangun fasilitas regasifikasi di dekat pembangkit. Metode ini membuat proyek LNG menjadi lebih ekonomis karena volumenya tidak terlalu kecil.

Untuk infrastrukturnya, PLN akan menggunakan skema built-operate-transfer (BOT) di mana setelah periode tertentu akan menjadi milik perseroan. Sementara kontrak pasokan gas tetap seperti kontrak biasanya. PLN tidak akan membatasi LNG harus dalam negeri, yang penting harga yang ditawarkan cukup kompetitif. 

Sementara itu, meski terjadi perubahan jadwal lelang, Kepala Divisi BBM dan Gas PLN Chairani menegaskan target penyelesaian proyek tidak berubah, tetap ditargetkan selesai pada 2019.

Sejauh ini, PLN telah menetapkan 11 konsorsium perusahaan yang lolos prakualifikasi. Ke-11 peserta yang lolos prakualifikasi ini adalah PT Pertamina, Osaka Gas Co Ltd, PT Medco Energi Internasional Tbk, Gas Natural Fenosa SDG SA, Marubeni Corporation, dan konsorsium Socar Petroleum SA, PT Humpuss Transportasi Kimia, PT PP Tbk, dan Pl Toba Sejahtera.

Selanjutnya peserta lain yang lolos yakni konsorsium PT Bukaka Teknik Utama Tbk, Tokyo Gas Co Ltd, dan Mitsui Co Ltd, konsorsium PT Perusahaan Gas Negara dan International Power Ltd, konsorsium Itochu Corporation dan PT Energasindo Heksa Karya, konsorsium Shell Gas & Power Development BV dan PT Energi Dian Kemala, serta konsorsium Mitsubishi Corporation, Brunei National Petroleum Company Sdn Bhd, dan Diamond Gas International Pte Ltd.

Investor Daily, Page-9, Friday, May, 5, 2017

PGN is Committed to Development of Gas Infrastructure

PT Perusahaan Gas Negara Tbk (PGN) supports the Government's efforts in realizing national energy independence. With integrated natural gas management, PGN has the capability to develop infrastructure and deliver natural gas from upstream producers directly to domestic users.

PGN Director General and Human Resources Desima E Siahaan said the development of PGN's natural gas infrastructure is part of the company's commitment to strengthen national energy independence. The use of natural gas as an energy that is environmentally friendly, efficient and safe proves to be able to push the economy effectively.

In 2016, PGN's gas pipeline infrastructure grew over more than 252 km and currently reaches over 7,278 km or equivalent to 80% of national downstream natural gas pipelines. The development of the infrastructure is aimed at increasing the expansion of natural gas access and improving services to customers.

Of the natural gas infrastructure, PGN channeled natural gas directly to domestic customers reaching 168,973 customers, with more details and 165,392 household customers, 1,929 MSEE, commercial, hotel, hospital, restaurant, to restaurant customers, and 1,652 manufacturing customers Large-scale and power plants. Currently PGN has exist in 12 provinces to distribute natural gas for the community.

A number of projects that have been completed by PGN on time such as the Kalisogo-Waru gas pipeline project, East Java along 30 km. Then PGN also completed the project in the Jetis-Ploso segment in the Mojokerto area to Jombang along the 27 km. Also the Kejayan-Purwosari segment project in Pasuruan is 15 km long.

In addition to East Java, PGN also completed an 18.3 km gas pipeline infrastructure project in Batam. The gas pipeline project located in Batam's business district will channel natural gas to Nagoya, Lubuk Baja and Jodoh areas in Batam. PGN is currently working on Central Kalimantan's 125 km gas distribution pipeline project, marine pipelines and facilities for the 5km-long Riau archipelago, as well as several other gas infrastructure development networks in West Java and Surabaya.

In the near future PGN will also distribute natural gas to several flats in DKI Jakarta. PGN relies on the company's financing capability to build domestic gas infrastructure, thus not burdening the state budget.

At the time of the national economic recovery effort, during the period of January-December 2016, PGN distributed natural gas of 1,599 million standard cubic feet per day (MMSC FD), growing from 1.591 MMSCFD in the same period last year. With the distribution volume of gas distribution (natural gas trading) of 803 MMSC FD, up compared to the same period last year of 802 MMSCFD and the transmission volume (natural gas transportation) of 795 MMSCFD.

IN INDONESIAN

PGN Berkomitmen Dalam Pengembangan Infrastruktur Gas

PT Perusahaan Gas Negara Tbk (PGN) mendukung upaya Pemerintah dalam mewujudkan kemandirian energi nasional. Dengan pengelolaan gas bumi terintegrasi, PGN memiliki kemampuan dalam mengembangkan infrastruktur serta menyalurkan gas bumi dari produsen hulu langsung ke pengguna domestik.

Direktur Umum dan SDM PGN Desima E Siahaan mengatakan, pengembangan infrastruktur gas bumi yang dilakukan PGN merupakan bagian dari komitmen perusahaan untuk memperkuat kemandirian energi nasional. Penggunaan gas bumi sebagai energi baik yang ramah lingkungan, efisien, dan aman terbukti mampu mendorong Perekonomian dengan efektif.

Pada tahun 2016, infrastruktur pipa gas PGN Bertambah sepanjang lebih dari 252 km dan saat ini mencapai lebih dari 7.278 km atau setara dengan 80% pipa gas bumi hilir nasional. Pengembangan infrastruktur tersebut ditujukan untuk meningkatkan perluasan aksesabilitas gas bumi serta peningkatan layanan kepada pelanggan. 

Dari infrastruktur gas bumi tersebut, PGN menyalurkan gas bumi secara langsung ke pelanggan domestik mencapai 168.973 pelanggan, dengan rincian lebih dan 165.392 pelanggan rumah tangga, 1.929 pelanggan sektor UMKM, komersial, hotel, rumah sakit, restoran, hingga rumah makan, serta 1.652 industri manufaktur berskala besar dan pembangkit listrik. Saat ini PGN telah hadir di 12 provinsi untuk menyalurkan gas bumi bagi masyarakat.

Sejumlah proyek yang telah diselesaikan PGN dengan tepat waktu seperti proyek pipa gas Kalisogo-Waru, Jawa Timur sepanjang 30 km. Kemudian PGN juga menyelesaikan proyek di ruas Jetis-Ploso di wilayah Mojokerto sampai Jombang sepanjang 27 km. Juga proyek ruas Kejayan-Purwosari di Pasuruan sepanjang 15 km. 

Selain di Jawa Timur, PGN juga menyelesaikan proyek infrastruktur pipa gas bumi sepanjang 18,3 km di Batam. Proyek pipa gas yang berada di kawasan bisnis Batam ini akan menyalurkan gas bumi ke wilayah Nagoya, Lubuk Baja, dan Jodoh di Batam. PGN saat ini juga sedang mengerjakan proyek pipa distribusi gas Sumatera Tengah sepanjang 123 km, pipa laut dan fasilitasnya untuk kepulauan Riau sepanjang 5 km, serta beberapa pengembangan jaringan infrastruktur gas lainnya seperti di Jawa Barat dan Surabaya. 

Dalam waktu dekat PGN juga akan menyalurkan gas bumi ke beberapa rumah susun di DKI Jakarta. PGN mengandalkan kemampuan pendanaan perusahaan untuk membangun infrastruktur gas dalam negeri, sehingga tidak membebani APBN.

Di saat upaya pemulihan perekonomian nasional, selama periode Januari-Desember 2016, PGN menyalurkan gas bumi sebesar 1.599 million standard cubic feet per day/MMSC FD), bertumbuh dibandingkan periode yang sama tahun lalu sebesar 1.591 MMSCFD. Dengan perincian volume gas distribusi (niaga gas bumi) sebesar 803 MMSC FD, naik dibandingkan periode yang sama tahun lalu sebesar 802 MMSCFD dan volume transmisi (pengangkutan gas bumi) sebesar 795 MMSCFD.

Investor Daily, Page-9, Friday, May, 5, 2017

PGN Focused Strengthening of Natural Gas Infrastructure

PT Perusahaan Gas Negara Tbk remains focused on strengthening the natural gas infrastructure. So far, the natural gas pipeline infrastructure has been constructed along 7,278 kilometers across Indonesia, equivalent to 80 percent of national gas pipelines. The Company hopes to benefit from the government's policy of lowering the price of gas for industry.

With the gas infrastructure, PGN currently has 168,973 customers. The number of such subscribers consists of 165,392 household customers, 1,929 micro, small and medium enterprise (MSME) customers, hotels, hospitals, restaurants and restaurants and 1,652 large-scale industries, including power generation.

The gas that has been distributed in 2016 as much as 1.6 billion standard cubic feet per day. "This year, the gas pipeline infrastructure project that is scheduled to be completed is a gas pipeline project in central Sumatra along 123 kilometers and in Riau Islands as long as 5 kilometers," said PGN Commercial Director Danny Praditya in a press conference after the Annual General Meeting of Shareholders (AGM ).

Meanwhile, related to government policy to lower gas price for industry, Finance Director of PGN Nusantara Suryono added. Cheaper gas prices are believed to increase consumption by consumers from the industrial sector.

Thus, the gas sales volume from PGN is projected to increase in the future. "Especially in the region of North Sumatra, the selling price of gas has been lowered from the original 12.22 US dollars per MMBTU to 9.95 US dollars per MMBTU. We expect compensation in the form of increased gas sales volume of the company, "said Nusantara.

PGN Director General and Human Resources Desima E Siahaan added that the company is committed to continue developing the natural gas infrastructure in order to strengthen national energy independence. Utilization of natural gas is still encouraged for household consumption, power generation, or industry in small, medium and large scale.

Throughout 2016, PGN posted net income of 2.9 billion US dollars, equivalent to Rp 38.6 trillion with an average exchange rate in 2016 of Rp 13,808 per US dollar.

Meanwhile, the company's net profit reached 304 million US dollars or Rp 4.04 trillion. With these achievements, PGN distributes dividends to the government and shareholders of Rp 1.82 trillion or Bp 75.18 per share.

This year, PGN's capital expenditure and its subsidiaries are allocated 500 million US dollars. At the AGMS, the company announced the replacement of the position of president director Hendi Prio Santoso, who was the primary director replaced by Jobi Triananda Hasjim. The main commissioner in the office of Fajar Harry Sampurno

IN INDONESIAN

PGN Fokus Penguatan Infrastruktur Gas Bumi

PT Perusahaan Gas Negara Tbk tetap fokus pada penguatan infrastruktur gas bumi. Sejauh ini, infrastruktur pipa gas bumi telah terbangun sepanjang 7.278 kilometer di seluruh Indonesia atau setara dengan 80 persen sambungan pipa gas nasional. Perseroan berharap mendapat manfaat atas kebijakan pemerintah menurunkan harga gas untuk industri. 

Dengan infrastruktur gas tersebut, saat ini PGN memiliki 168.973 pelanggan. Jumlah pelanggan sebanyak itu terdiri dari 165.392 pelanggan rumah tangga, 1.929 pelanggan sektor usaha mikro, kecil, dan menengah (UMKM), hotel, rumah sakit, restoran, dan rumah makan serta 1.652 industri berskala besar, termasuk pembangkit listrik. 

Adapun gas yang sudah disalurkan pada 2016 sebanyak 1,6 miliar standar kaki kubik per hari. ”Tahun ini, proyek infrastruktur pipa gas bumi yang dijadwalkan bisa rampung adalah proyek pipa gas di Sumatera bagian tengah sepanjang 123 kilometer dan di Kepulauan Riau sepanjang 5 kilometer,” kata Direktur Komersial PGN Danny Praditya dalam konferensi pers seusai Rapat Umum Pemegang Saham Tahunan (RUPST).

Sementara itu, terkait kebijakan pemerintah menurunkan harga gas untuk industri, Direktur Keuangan PGN Nusantara Suryono menambahkan. harga gas yang lebih murah diyakini akan menaikkan konsumsi oleh konsumen dari sektor industri.

Dengan demikian, volume penjualan gas dari PGN diproyeksikan meningkat pada masa mendatang. ”Khusus di wilayah Sumatera Utara, harga jual gas sudah diturunkan dari semula 12,22 dollar AS per MMBTU menjadi 9,95 dollar AS per MMBTU. Kami berharap ada kompensasi berupa peningkatan volume penjualan gas perseroan,” kata Nusantara. 

Direktur Umum dan Sumber Daya Manusia PGN Desima E Siahaan menambahkan, perseroan berkomitmen untuk terus mengembangkan infrastruktur gas bumi dalam rangka memperkuat kemandirian energi nasional. Pemanfaatan gas bumi tetap didorong untuk konsumsi rumah tangga, pembangkit listrik, ataupun industri dalam skala kecil, menengah, dan besar.

Sepanjang 2016, PGN membukukan pendapatan bersih sebesar 2,9 miliar dollar AS atau setara dengan Rp 38,6 triliun dengan nilai tukar rata-rata pada 2016 sebesar Rp 13.808 per dollar AS.

Sementara laba bersih perseroan mencapai 304 juta dollar AS atau Rp 4,04 triliun. Dengan capaian tersebut, PGN membagikan dividen kepada pemerintah dan pemegang saham sebesar Rp 1,82 triliun atau Bp 75,18 per lembar saham.

Tahun ini, belanja modal PGN berikut anak perusahaannya dialokasikan 500 juta dollar AS. Dalam RUPST itu, perseroan mengumumkan pergantian kursi jabatan direktur utama  Hendi Prio Santoso yang semula menjabat direktur utama digantikan Jobi Triananda Hasjim. Adapun komisaris utama di jabat Fajar Harry Sampurno

Kompas, Page-20, Friday, May, 5, 2017

Jonan resorts to bullying major foreign oil companies

     For Japan’s lnpex Corp. and Royal Dutch Shell, Indonesia’s abrupt policy change to make them rewrite their multi-billion-dollar business plan last year may not be their last hurdle, even after more than six years of negotiations aimed at getting the project running.

     The companies, at risk of losing the US$l.6 billion they already sank into gas exploration in the Masela block in Maluku, were forced by President Joko “Jokowi” Widodo in March last year to alter their plan to extract gas from the block using offshore facilities. They must now use onshore facilities instead. 

     While the companies have finally agreed to move forward with the $19 billion onshore project, the biggest ever in Indonesia, a recent deadlock in the negotiations with the authorities over preliminary facility design have made them the apparent victims of bullying-like tactics. 

      Energy and Mineral Resources Minister Ignasius Jonan has threatened to cancel a production-sharing contract (PSC) involving the gas-rich block if the contractors do not get the ball rolling on the field’s development. The government has asked Inpex and Shell, which hold' 65 and 35 percent stakes in the block, respectively, to immediately agree to the Energy and Mineral Resources Ministry’s terms for the design during the so-called preliminary front-end engineering design (pre-FEED) phase.

     This phase will determine the production capacity of the onshore liquefied natural gas (LNG) plant, the length of pipes, the allocation of gas for local use and the islands where the facilities will be located, among other things. “If Inpex takes too long to conduct the pre-FEED then I will cancel the contract. My patience is wearing thin,” Jonan said . “I have been the energy and mineral resources minister for six months and they still haven’t started.”

    Unilaterally terminating the PSC, which will not expire until 2028, will be legally time consuming and the government will be at risk of being pulled into international arbitration if the companies cannot fully accept the termination rationale.

     During the pre-FEED negotiations, the ministry has given Inpex and Shell two options for the LNG plant capacity 7.5 mtpa with 474 million standard cubic feet of gas per day (mmscfd) or 9.5 mtpa and 160 mmscfd. The piped gas will be sold to local petrochemical companies.

     The Masela block is estimated to be able to produce 1,200 mmscfd and 24,000 barrels of condensate per day for 24 years. However, the ministry has demanded the companies explore other options for onshore designs that will cost them more than $75 million in additional investment with no benefits at all as the options are already estimated to yield less than initially expected.

     Exploring other design options will only delay the pre-FEED completion, which normally takes one and a half years. Pre-FEED is an early stage after resource discovery. After the phase, the companies and the ministry are required to negotiate a plan of development (POD), which usually also takes one and a half years at most.

     Once the POD is approved, the companies and the ministry proceed to negotiate the final FEED, which includes talks about incentives and taxes. This process can take two to three years before the project construction is offered for open bidding, which takes less than one year. Construction takes four to five years.”  Given the complexity of the negotiations, the chances for the block to start producing by 2023, as the government hopes, may diminish.

     Inpex spokesman Usman Slamet said the company would continue to work with the government to find a way to expedite the project. “We continue to work together with the government to continue the project as soon as possible. The gas field project needs hard work and large investments in the long term so it needs support from all stakeholders,” he said.

     Indonesian Chamber of Commerce and Industry (Kadin) head of energy oil and gas regulations Firlie Ganinduto said Jonan’s comment would only spook investors and he said he hoped the former banker would not harm their business. “The government must honor any agreements already made,” he said

     ReforMiner Institute researcher Pri Agung Rakhmanto said that although Jonan’s statement might have been merely “emotional,” it only highlighted the government’s increasing lack of attention toward the upstream energy sector.

“The policies the government has utilized only demonstrated its distrust toward the industry. This may be even more apparent since the sector’s contribution to state revenues has continued to decline,” he said. 

     Moreover, Pri Agung noted that the government cannot revoke a PSC unilaterally, as any cancellation of a contract must be agreed to by all parties. The Masela morass has drawn the attention of both Japanese Prime Minister Shinzo Abe and Dutch Prime Minister Mark Rutte who recently demanded Jokowi help resolve the project’s bottlenecks.

Jakarta Post, Page-13, Thursday, May, 4, 2017

Government Give Ultimatum to Inpex

If pre-FEED is not completed soon, the FEED process is feared to be hampered.

The government gives ultimatum to Inpex Corporation which is considered slow to work on Masela Block, especially related to the completion of pre-front end engineering (FEED) study. In fact, after selecting a scheme for the development of an onshore liquefied natural gas (LNG) refinery, the government hopes that the gas field located in Arafuru Sea will soon be in production. I was six months in the Ministry of Energy and Mineral Resources (ESDM), but (pre-FEED study) did not start immediately, said ESDM Minister Ignasius Jonan

The government as indicated by Jonan seems to have been unable to wait any longer. Please to write, Inpex if too long pre-FEED, I cancel (cooperation contract / KKS). Do not let me lose patience, said the former Minister of the Commonwealth. However, he was reluctant to reveal how long the limit of patience the government has.

The pre-FEED phase includes location determination, refinery capacity, and development plans related to the petrochemical industry. If pre-FEED is not finalized soon, the FEED process until final Final Investment Decision (FID) is scheduled for completion in 2019 is feared to be hampered. It will also threaten the realization of the first gas production (on stream) is targeted in 2026.

Two scenarios

On pre-FEED issues, Inpex was asked to prepare a review of two scenarios. The investor version of the scenario scenario is the increase of refinery capacity from 7.5 million tons per year (mtpa) to 9.5 mtpa plus 150 million cubic feet per day (mmscfd) of gas production. The government version of the scenario is 5 mtpa capacity plus gas production of 474 mmscfd. Broadly speaking, both scenarios have the same total value of LNG production as it comes from the same wellhead.

Regarding the certainty of the scenario to be taken, Jonan said it refers to the study proposed investors. "If pre-FEED is not finished yet, how can it be decided. Let's wait for the pre-FEED stage one.

The change in the scheme for the development of an LNG refinery facility from offshore to onshore has in fact resulted in additional capital expenditures and project work periods suspected to be delayed.

In this regard, Inpex has submitted a request for incentives for the project development to remain economically viable. Among these include compensation of contractual time lost for 10 years (2007-2017) from oil and gas field development with proven reserves of 10.73 tcf. Regarding to that, the government offers a seven-year compensation option.

When asked for confirmation on the same occasion, Senior Communication Manager of Inpex Corporation Usman Slamet stated there are still some things that need to be negotiated with the government before starting pre-FEED.

Meanwhile, Jonan on the sidelines of the National Gas Gas Forum revealed that domestic gas utilization has recorded a positive trend with an average increase of 9% since 2003. We want more domestic gas usage so that there is added value. Surely the price must also be competitive with good quality.

IN INDONESIAN

Pemerintah Ultimatum Inpex

Apabila pre-FEED tidak segera dirampungkan, proses FEED dikhawatirkan terhambat.

Pemerintah memberikan ultimatum kepada Inpex Corporation yang dianggap lamban menggarap Blok Masela, khususnya terkait dengan penyelesaian kajian pre-front end engineering design (FEED). Padahal, setelah memilih opsi skema pengembangan kilang gas alam cair berbasis darat (on shore liquefied natural gas), pemerintah berharap lapangan gas yang terletak di Laut Arafuru itu segera berproduksi. Saya sudah enam bulan di Kementerian Energi dan Sumber Daya Mineral (ESDM), tapi (kajian pre-FEED) tidak segera dimulai, kata Menteri ESDM Ignasius Jonan

Pemerintah sebagaimana di isyaratkan Jonan tampaknya sudah tidak bisa menunggu lebih lama. Tolong untuk di tulis, Inpex kalau terlalu lama pre-FEED, saya batalkan (kontrak kerja sama/KKS). Jangan sampai saya hilang kesabaran, kata mantan Menteri Perhuhungan tersebut. Namun, dia enggan mengungkapkan berapa lama batas kesabaran yang dimiliki pemerintah.

Fase pre-FEED mencakup penentuan lokasi, kapasitas kilang, berikut rencana pengembangan yang menyangkut industri petrokimia. Apabila pre-FEED tidak segera dirampungkan, proses FEED hingga penyampaian keputusan akhir Final Investasi (final investment decision/FID) yang dijadwalkan selesai di 2019 dikhawatirkan terhambat. Hal itu nantinya turut mengancam realisasi produksi gas pertama (on stream) yang ditargetkan pada 2026.

Dua skenario

Soal pre-FEED, Inpex diminta menyiapkan kajian atas dua skenario. Dengan perincian skenario versi investor ialah peningkatan kapasitas kilang dari 7,5 juta ton pertahun (mtpa) menjadi 9,5 mtpa ditambah produksi gas 150 juta kaki kubik per hari (mmscfd). Adapun skenario versi pemerintah ialah kapasitas 5 mtpa ditambah produksi gas 474 mmscfd. Secara garis besar, kedua skenario itu memiliki nilai total produksi LNG serupa karena bersumber dari mulut sumur (well head) yang sama.

Mengenai kepastian skenario yang akan diambil, Jonan menuturkan hal itu mengacu pada kajian yang diajukan investor. “Kalau pre-FEED belum selesai, bagaimana bisa diputuskan. Kita tunggu saja hasil pre-FEED tahap satu.

Perubahan skema pengembangan fasilitas kilang LNG berubah dari berbasis laut (off shore) ke darat (on shore) nyatanya berdampak terhadap penambahan belanja modal perusahaan dan masa pengerjaan proyek yang ditengarai molor. 

Terkait dengan itu, Inpex telah mengajukan permohonan insentif agar pengembangan proyek tetap ekonomis. Di antaranya termasuk kompensasi waktu kontrak yang hilang selama 10 tahun (2007-2017) dari pengembangan lapangan migas dengan cadangan terbukti 10,73 tcf. Mengenai hal itu, pemerintah menawarkan opsi kompensasi tujuh tahun.

Saat dimintai konfirmasi pada kesempatan yang sama, Senior Communication Manager Inpex Corporation Usman Slamet menyatakan masih ada beberapa hal yang perlu dirundingkan dengan pemerintah sebelum memulai pre-FEED. 

Sementara itu, Jonan di sela-sela Forum Gas Bumi Nasional mengungkapkan pemanfaatan gas bumi domestik tercatat menunjukkan tren positif dengan kenaikan rata-rata 9% sejak 2003. Kita ingin penggunaan gas di dalam negeri semakin banyak sehingga ada nilai tambah. Tentunya harganya juga harus kompetitif dengan kualitas yang bagus.

Media Indonesia, Page-18, Thursday, May, 4, 2017

Minister Jonan Banned the State Budget for Mini Refineries

Minister of Energy and Mineral Resources Ignasius Jonan banned the use of the State Revenue and Expenditure Budget to finance the construction of refineries. Just give it to the operator.

Jonan asserted, small-scale refinery projects should be managed by the business world, either as investors or contractors who work on construction work. This we open to anyone. If you have to tender and others too long

Earlier, the Ministry of Energy plans to auction the construction of eight mini refinery clusters, namely refineries with production capacity below 10 thousand barrels per day (bpd). The program is regulated in Ministerial Regulation No. 22 of 2015.

The mini refineries to be auctioned are cluster I of North Sumatera (Rantau dan Pangkalan Susu) with 3,617 bph oil production, Malaka Strait and Petroselat Stage II II clusters with 4,427 bph oil production, Riau III cluster (Tonga, Siak, Pemalian , Langgak, West Area, Kisaran) with 2,391 bph oil production, Jambi IV cluster (Palmerah, Mengoepeh, Lemang, Karang Agung) with oil production of 1,914 bpd, and South Sumatra V cluster (Merangin II and Ariodamar) with oil production of 3,947 bpd.

The cluster VI is located in South Kalimantan (Tanjung with oil production of 3,539 bph, cluster VII is in North Kalimantan (Bunyu, Sembakung, Mamburungan, Pamusian Juwata) with oil production 8,059 bph, and cluster VIII is in Maluku (Oseil and Bula) Oil is 3,947 bpd.

Jonan said the government had no resources to operate the mini refinery. In addition, the state budget is only to make something that is needed by society to the bottom of society. For example the construction of a gas network for urban, housing or flats in urban areas.

Jonan ensures the construction of the gas network will continue to be done. Because, with the infrastructure, the cost of consumption will be cheaper than using LPG. Thus, in the future, the government expects the demand for LPG to decline. Now it still imports 4.5 million tons, a lot.

Jonan targets, in the future, Indonesia can build a million home connections in a year to channel gas to people's homes.

IN INDONESIAN

Menteri Jonan Larang Anggaran Negara untuk Kilang Mini

Menteri Energi dan Sumber Daya Mineral Ignasius Jonan melarang penggunaan Anggaran Pendapatan dan Belanja Negara untuk membiayai pembangunan kilang. Berikan saja kepada operator.

Jonan menegaskan, proyek kilang minyak berskala kecil sebaiknya dikelola dunia usaha, baik itu sebagai investor maupun kontraktor yang menggarap pekerjaan konstruksi. Ini kami buka kepada siapa saja. Kalau harus tender dan lain-lain terlalu lama

Sebelumnya, Kementerian Energi berencana melelang pembangunan delapan kluster kilang mini, yakni kilang dengan kapasitas produksi di bawah 10 ribu barel per hari (bph). Program itu diatur dalam Peraturan Menteri Nomor 22 Tahun 2015. 

Kilang mini yang akan dilelang ialah kluster I Sumatera Utara (Rantau dan Pangkalan Susu) dengan produksi minyak sebesar 3.617 bph, kluster II Selat Panjang Malaka (EMP Malacca Strait dan Petroselat) dengan produksi minyak 4.427 bph, kluster III Riau (Tonga, Siak, Pendalian, Langgak, West Area, Kisaran) dengan produksi minyak 2.391 bph, kluster IV Jambi (Palmerah, Mengoepeh, Lemang, Karang Agung) dengan produksi minyak 1.914 bph, serta kluster V Sumatera Selatan (Merangin II dan Ariodamar) dengan produksi minyak 3.947 bph.

Adapun kluster VI berada di Kalimantan Selatan (Tanjung dengan produksi minyak 3.539 bph, kluster VII berada di Kalimantan Utara (Bunyu, Sembakung, Mamburungan, Pamusian Juwata) dengan produksi minyak 8.059 bph, dan kluster  VIII ada di Maluku (Oseil dan Bula) dengan produksi minyak 3.947 bph.

Jonan menambhakan pemerintah tidak punya sumber daya untuk mengoperasikan kilang mini tersebut. Selain itu, anggaran negara hanya untuk membuat sesuatu yang memang dibutuhkan oleh masyarakat hingga kalangan yang paling bawah. Misalnya pembangunan jaringan gas untuk perkotaan, perumahan atau rusun di perkotaan.

Jonan memastikan pembangunan jaringan gas akan terus dilakukan. Sebab, dengan infrastruktur itu, biaya konsumsi akan lebih murah dibanding menggunakan elpiji. Dengan demikian, ke depan, pemerintah berharap permintaan elpiji akan menurun. Sekarang masih impor 4,5 juta ton, banyak sekali.

Jonan menargetkan, ke depan, Indonesia dapat membangun satu juta sambungan rumah dalam setahun untuk mengalirkan gas ke rumah-rumah warga.

Koran Tempo, Page-20, Thursday, May, 4, 2017

Jonan Threatens Inpex Related Slowly Development of Masela Block

Minister of Energy and Mineral Resources (ESDM) lgnasius Jonan threatened to cancel cooperation with Inpex Corporation related to the slowness of the development process of Masela Block. Jonan confirmed that he was impatient, because he had been waiting for six months, but the progress of the development of liquefied natural gas (LNG) is no progress. If it's too long, I cancel it.

The explanation is that the Ministry of Energy and Mineral Resources has been waiting for the completion of a structural and design review for the estimated cost of the Inpex pre-FEED facility, but the study in the Aru and Yamdena Islands area of the Masela Block has not been developed.

Inpex has the responsibility to conduct a pre-FEED study of 9.5 mtpa capacity plus 150 MMSCFD and 7.5 mtpa plus 474 MMSCFD. Pre-Feed is up to Inpex.

Based on information from the Ministry of ESDM, in early 2017, its development is still awaiting a letter from Inpex regarding the "fiscal terms" offered by the Government to develop Abadi Field, Masela Block.

The government decided to increase the operation of the Masela Block for seven years. This is lower than Inpex's request as operator of Masala Block is 10 years.

In addition, it has also decided the capacity of liquefied natural gas (LNG) production to be 7.5 metric tons per year. Meanwhile, for natural gas at 47 4 million cubic feet per day. In his proposal, Inpex requested that the refinery capacity be added from 7.5 million metric tons per year to 9.5 million metric tons per year.

Regarding the return on investment of the internal rate of return (IRR) of the project, the Government has never set it to be at 15 percent and so on. The most important thing is still within reasonable limits. The fairness limits of the Masela Block IRR are less than 15 percent.

IN INDONESIAN

Jonan Ancam Inpex Terkait Lamban Pengembangan Blok Masela

Menteri Energi dan Sumber Daya Mineral (ESDM) lgnasius Jonan mengancam akan membatalkan kerja sama dengan Inpex Corporation terkait lambannya proses pengembangan Blok Masela. Jonan menegaskan bahwa ia sudah tidak sabar, sebab sudah ditunggu selama enam bulan, namun progres pengembangan kilang gas alam cair (LNG) tersebut tidak ada perkembangan. Kalau terlalu lama, saya batalkan.

Penjelasannya adalah sudah enam bulan Kementerian ESDM menunggu penyelesaian tentang kajian struktur dan desain untuk estimasi fasilitas biaya (Pre-FEED) dari Inpex, namun kajian di wilayah Pulau Aru dan Yamdena bagian dari Blok Masela tersebut tidak ada perkembangan.

Inpex memiliki tanggungan untuk melakukan kajian pre-FEED kapasitas 9,5 mtpa ditambah dengan 150 MMSCFD serta 7,5 mtpa ditambah 474 MMSCFD. Pre-Feed itu terserah Inpex.

Berdasarkan informasi dari Kementerian ESDM, pada awal tahun 2017, perkembangannya masih menunggu surat dari Inpex mengenai “fiscal terms” yang ditawarkan Pemerintah untuk mengembangkan Lapangan Abadi, Blok Masela.

Pemerintah memutuskan penambahan masa operasi Blok Masela selama tujuh tahun. Ini lebih rendah dari permintaan Inpex selaku operator Blok Masala yaitu 10 tahun.

Selain itu, telah diputuskan pula kapasitas produksi gas alam cair (LNG) tetap 7,5 metrik ton per tahun. Sementara untuk gas bumi sebesar 47 4 juta kaki kubik per hari. Dalam usulannya, Inpex meminta agar kapasitas kilang ditambah dari 7,5 juta metrik ton per tahun menjadi 9,5 juta metrik ton per tahun.

Mengenai rasio pengembalian investasi “internal rate of return” (IRR) proyek, Pemerintah tidak pernah menetapkan harus di angka 15 persen dan sebagainya. Hal terpenting adalah masih dalam batas kewajaran. Batas kewajaran IRR Blok Masela adalah kurang dari 15 persen. 

Investor Daily, Page-9, Thursday, May, 4, 2017