Pertamina Rearranges Two Megaprojects

      PT Pertamina examines all the current projects. President Director of Pertamina Elia Massa Manik said it did so by looking at their financial capabilities. "All projects in the journey must be reorganized by looking at Pertamina's financial capability," Massa said in a hearing with Commission VII of the House of Representatives, at the Parliament Complex, Senayan, Jakarta, Tuesday (6/6).

     He explained that in detail, Pertamina continues to discuss with detail about the project of Refinery Development Master Plan (RDMP) RU IV Cilacap and New Grass Root Refinery (NGRR). For Cilacap, the company works in collaboration with Saudi Aramco, while Tuban with Russian company Rosneft.

"For example, we have a steering committee with Rosneft that from time to time we talk about in detail," said Massa.

     Director of Megaproject and Petrochemical Rachmad Hardadi explained, the target on stream Cilacap refinery in 2023. In the second quarter of 2017, the study of basic engineering design (BED) is projected to be completed.

     Meanwhile, for the Tuban refinery, the target is on stream in 2024. Currently the environmental feasibility test is still running. "Amdal is completed in the third quarter of 2017, BED started in the third quarter of 2017," said Hardadi.

      Meanwhile, House Commission VII member Rl Dito Ganinduto asked Pertamina to speed up the construction of a number of crude oil processing refineries into BBM in order to run in line with the target. Terutarna target of self-sufficiency of BBM production in accordance with Jokowi-JK Government Joy.

     Moreover, the Government has issued Presidential Regulation No. 146 of 2015 on the Implementation of Development and Development of Oil Refinery in the Interior and Presidential Regulation no. 3/2016 on Accelerating the Implementation of National Strategic Projects as a legal umbrella for the construction of refineries.

      To meet the target of self-sufficiency of BBM, in accordance with Annex Perpres no. 3/2016, the government plans the construction of an oil refinery project through two schemes. First, the construction of two new refineries, namely in Bontang-East Kalimantan and Tuban-East Java. The second scheme is the upgrading of existing refinery development (RDMP) in five refineries.

     Dito assessed that the current progress of oil refinery development is not as fast as before. "I see it is slowing down now, so we need a joint commitment to make the refinery project run on target, if possible, faster than target, faster, better , "

IN INDONESIAN

Pertamina Tata Ulang Dua Megaproyek

PT Pertamina mengkaji semua proyek yang sedang dimuali saat ini. Direktur Utama Pertamina Elia Massa Manik mengatakan, pihaknya melakukan hal itu dengan melihat kemampuan keuangan mereka. "Semua proyek dalam perjalanannya harus ditata ulang dengan melihat kemampuan keuangan Pertamina," kata Massa dalam Rapat Dengar Pendapat dengan Komisi VII DPR RI, di Kompleks Parlemen, Senayan, Jakarta, Selasa (6/ 6).

Ia menjelaskan, secara garis besar pembicaraan detail terus dilakukan Pertamina dengan partner mengenai proyek Refinery Development Master Plan (RDMP) RU IV Cilacap dan New Grass Root Refinery (NGRR). Untuk Cilacap, Perusahaan milik tersebut bekerja sama dengan Saudi Aramco, sementara Tuban dengan perusahaan asal Rusia, Rosneft. 

"Contoh, kita punya steering committee dengan Rosneft yang dari waktu ke waktu kita bicarakan secara detail," ujar Massa.

Direktur Megaproyek dan Petrokimia Rachmad Hardadi menerangkan, target on stream Kilang Cilacap pada 2023. Pada kuartal II 2017, kajian mengenai basic Engineering design (BED) diproyeksikan selesai. 

Sementara, untuk kilang Tuban, target on stream pada 2024. Saat ini uji kelayakan lingkungan masih berjalan. "Amdal diselesaikan pada kuartal III 2017, BED dimulai pada kuartal III 2017," ujar Hardadi.

Sementara itu, anggota Komisi VII DPR Rl Dito Ganinduto meminta Pertamina mempercepat pembangunan sejumlah kilang pengolahan minyak mentah menjadi BBM agar dapat berjalan sesuai dengan target. Terutarna target swasembada produksi BBM sesuai dengan Nawacita pemerintahan Jokowi-JK. 

Apalagi Pemerintah sudah menerbitkan Peraturan Presiden Nomor 146 Tahun 2015 tentang Pelaksanaan Pembangunan dan Pengembangan Kilang Minyak di Dalam Negeri dan Peraturan Presiden No. 3/2016 tentang Percepatan Pelaksanaan Proyek Strategis Nasional sebagai payung hukum pembangunan kilang. 

Untuk memenuhi target swasembada BBM, sesuai dengan Lampiran Perpres No. 3/2016, pemerintah merencanakan pembangunan proyek kilang minyak melalui dua skema. Pertama, pembangunan dua kilang baru, yakni di Bontang-Kalimantan Timur dan Tuban-Jawa Timur. Skema kedua adalah peningkatan kapasitas [upgrading] kilang yang ada (refinery development master plan/RDMP) di lima kilang.

Dito menilai, saat ini progres pembangunan kilang minyak tidak secepat sebelumnya."Saya mlihat agak melambat sekarang. Oleh karena itu, perlu komitmen bersama agar proyek kilang ini berjalan sesuai dengan target. Kalau memungkinkan, bisa lebih cepat dari target. Lebih cepat, lebih baik," 

Republika, Page-13, Wednesday, June 7, 2017

Government Will Cut Transport Cost of Old Gas Project

Regulators support the limitation of gas business profits.

The Downstream Oil and Gas Regulatory Agency (BPH Migas) is reviewing the possibility of cutting the cost of transporting gas to reduce prices at the konsnunen level. One of the targeted is the cutting of transportation costs of old gas projects.

"That's certainly a concern. We are evaluating wherever the points can be reduced, "said Head of BPH Migas Fanshurullah Asa

The old project becomes one of the targets because the investment cost is back. Supposedly, the longer the life of a gas facility, the lower the cost of transport.

But there are many old projects that cost less. In contrast, prices at the consumer level increase as the cost of gas production increases from year to year. BPH Migas has not been able to predict how the potential decline in its price. Therefore, the cost of transporting each project varies, depending on well conditions, pipeline length, and other infrastructure.

Minister of Energy and Mineral Resources Ignatius Jonan hopes the new committee of BPH Migas led by Fanshurullah immediately help the government to reduce gas prices. Jonan also asked the downstream regulator to oversee the company Transportation and gas distributor so that the construction of the infrastructure more efficient.

"With cheaper capital expenditure, there will be toll fee efficiency. With a cheap toll fee, if calculated gas prices at Upstream could be more efficient. "

Fanshurullah also proposed the opening of a special gas distribution pipeline access. The goal is to increase the use of infrastructure so that prices can be cut. Later, the pipeline can be used by more than one company.

He also plans to tighten the trading of layered gas through traders, which pose a risk if access pipeline distribution is open. Margin of gas business entrepreneurs will also be limited to a maximum of 7 percent. The limitation of profit will be regulated in the revision of Regulation of the Minister of Energy No. 19 of 2009 on Natural Gas Concession Through Pipelines. "We agree the margin should be limited, no more layered gas traders."

The Association of Indonesian Gas Traders (INGTA) actually considers the discourse of limiting the profit of gas commerce entrepreneurs Will be effective. Therefore, the commercial aspect of gas covers only 8 percent of the price component. The most decisive gas factor is Fare around. 90 percent and the rest is freight costs.

Chairman of the association Sabrun Jamil Amperawan exemplifies the distribution of gas in West Java whose price is konstunen reaches US $ 9 per MMBTU, the largest price component upstream of US $ 7.16 per MMBTU. The rest is transportation cost of US $ 1,1 per MMBTU. Gas distributor only earn US $ 0.74 per MMBTU.

Although distribution costs are cut, gas prices only become US $ 8.26 per MMBTU. That number is still higher than the price limit in Presidential Regulation No. 40 of 2016 amounting to US $ 6 per MMBTU. "It should be the price of gas trimmed upstream.

IN INDONESIAN

Pemerintah Akan Pangkas Biaya Angkut Proyek Gas Tua

Regulator mendukung pembatasan keuntungan bisnis gas.

Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas) sedang mengkaji kemungkinan memotong biaya pengangkutan gas untuk menekan harga di tingkat konsnunen. Salah satu yang disasar adalah pemangkasan biaya pengangkutan dari proyek-proyek gas yang sudah tua.

“Itu tentunya menjadi perhatian. Kami sedang mengevaluasi di mana saja titik-titiknya yang bisa dikurangi," ujar Kepala BPH Migas Fanshurullah Asa 

Proyek tua menjadi salah satu sasaran karena biaya investasinya sudah kembali. Seharusnya, semakin lama usia suatu fasilitas gas, biaya angkutnya semakin murah.

Namun ada banyak proyek tua yang biayanya tidak kunjung berkurang. Sebaliknya, harga di tingkat konsumen bertambah karena ongkos produksi gas meningkat dari tahun ke tahun. BPH Migas belum bisa memprediksi berapa potensi penurunan harganya. Sebab, biaya angkut setiap proyek bervariasi, bergantung pada kondisi sumur, panjang pipa, serta infrastruktur lainnya. 

Menteri Energi  dan Sumber Daya Mineral Ignasius Jonan berharap komite baru BPH Migas yang dipimpin Fanshurullah segera membantu pemerintah menurunkan harga gas. Jonan juga meminta regulator hilir tersebut mengawasi perusahaan pengangkutan dan distributor gas supaya pembangunan inirastruktur lebih efisien. 

“Dengan belanja modal lebih murah, akan didapatkan efisiensi toll fee. Dengan toll fee murah, kalau dihitung harga gas di hulu bisa lebih efisien.” 

Fanshurullah juga mengusulkan pembukaan akses pipa khusus distribusi gas. Tujuannya adalah meningkatkan penggunaan infrastruktur sehingga harga bisa dipangkas. Nantinya, pipa bisa digunakan oleh lebih dari satu perusahaan. 

Dia juga berencana memperketat perdagangan gas berlapis melalui trader, yang berisiko terjadi jika akses pipa distribusi sudah terbuka. Margin pengusaha niaga gas juga akan dibatasi maksimal 7 persen. Pembatasan keuntungan bakal diatur dalam revisi Peraturan Menteri Energi Nomor 19 Tahun 2009 tentang Pengusahaan Gas Bumi Melalui Pipa. “Kami setuju margin harus dibatasi, tidak ada lagi trader gas berlapis.”

Asosiasi Trader Gas Indonesia (INGTA) justru menganggap wacana pembatasan keuntungan pengusaha niaga gas tidak akan efektif. Sebab, aspek niaga gas hanya mencakup 8 persen dari komponen harga. Faktor gas yang paling menentukan adalah ongkos hulu sekitar. 90 persen dan sisanya adalah biaya pengangkutan.

Ketua asosiasi Sabrun Jamil Amperawan mencontohkan distribusi gas di Jawa Barat yang harganya ditingkat konstunen mencapai US$ 9 per MMBTU, Komponen harga terbesar berada di hulu yakni sebesar US$ 7,16 per MMBTU. Sisanya merupakan biaya transportasi US$ 1,1 per MMBTU. Adapun distributor gas hanya memeperoleh pendapatan US$ 0,74 per MMBTU.

Sekalipun biaya distribusi dipotong, harga gas hanya menjadi US$ 8,26 per MMBTU. Angka itu masih lebih tinggi daripada batas harga dalam Peraturan Presiden Nomor 40 Tahun 2016 sebesar US$ 6 per MMBTU. “Seharusnya yang dipangkas harga gas di hulu.

 Koran Tempo, Page-21, Wednesday, June 7, 2017

Overhaul underway in oil, gas sector

Major changes are on the horizon for those Working in Indonesia’s oil and gas industry as the final draft of the Oil and Gas Law revision was recently submitted to the House of Representatives’ Legislation Body (Baleg). Oil and gas players have been waiting for a revision of the 2001 law for almost a decade as many lament that existing regulations have made investment in the upstream oil and gas sector unappealing.

While the iinal revision will still take a While, the draft submission brings the process one step closer to changes in the oil and gas sector. 

The status quo of several government and state-owned institutions Will change, according to a copy of the draft obtained by The Jakarta Post, as the House Commission VII overseeing energf seeks to establish a special enterprise (BUK) responsible for making deals With private investors and conducting exploration and exploitation activities.

The enterprise will take over the roles of the Upstream Oil and Gas Regulatory Special Task Force (SKKMigas) and the Down-stream Oil and Gas Regulatory Agency (BPH Migas).

SKK Migas currently oversees oil and gas contractors’ work plans and budget, which consists of exploitation and exploration activities. It was established in 2012 after the Constitutional Court dissolved the Upstream Oil and Gas Executive Agency (BP-Migas), which basically held the same role as SKKMigas.

The draft does not specify which state-owned firm will be merged with SKKMigas and BPH Migas to make the new firm, but oil and gas firm Pertamina is currently the only state company operating in the upstream sector. Commission VII legislators argue that the BUK is needed to boost efficiency and will not operate under the State-Owned Enterprises (SOE) Law, which underlines a need for profit.

Satya Wira Yudha said it would be impossible for the new firm to operate under the SOE Law as it would focus on conducting expensive and high-risk exploration activities.

“The SOE Law stipulates that state-owned companies must make a profit. The potential for losses is great in the oil and gas industry,” he said on Tuesday.

The government may also be in for a rude awakening in relation to its efforts to implement a new gross-split scheme it recently introduced through a ministerial decree. VVhile the draft allows for “other types of contracts,” only the cost recovery scheme is mentioned in writing.

The cost recovery scheme is a type of production sharing contract (PSC) that holds the government responsible for reimbursing contractors’ exploration and exploitation activities.

Despite its burden to the state budget, some lawmakers at the House hope to nix the gross split scheme altogether as they claim that many investors have found it economically unfeasible for the current investment climate.

Harry Poernomo, said no merge would occur between Pertamina, SKKMigas and BPH Migas, but the new entity would be the parent organization for them.

Deputy Energy and Mineral Resources Minister Arcandra Tahar said the government was confident that the gross split scheme would still continue to be used so long as the new law does not prohibit other contract schemes.

The Energy and Mineral Resources Ministry is preparing its “counter proposal” to the revision and will present it once the government and lawmakers begin the discussion phase. The Indonesian Petroleum Association (IPA) has yet to issue its opinion on the draft as it is still reviewing it.

Convincing oil and gas business players to invest more in the country is essential ifithe government hopes to fulfill domestic demand and minimize imports in the future.

Upstream oil and gas investment has continued to decrease, dropping by 24.5 percent to US$12.01 billion in 2016 from $15.9 billion in 2015. The number of oil and gas fields being operated has continued to decline as well to merely 288 fields in 2016 from a high of 321 fields in 2013.

Experts state that the draft process will take a long time, as several clauses require clarity. ReforMiner Institute researcher Pri Agung Rakhmanto said it was still unclear which direction the oil and gas sector would take under the new draft.

“The draft describes the establishment of a special state entity [BUK], but it also maintains that state-owned upstream and downstream firms should make deals with this new company” he said, adding that if Pertamina was chosen to be the BUK, it would mean Pertamina and its subsidiaries must make deals among themselves.

Jakarta Post, Page-13, Wednesday, June 7, 2017

Pertamina struggles to put policy into action

State-owned energy giant Pertamina has been struggling to realize the governments plan to introduce a fixed fuel price across the archipelago amid mounting burdens from subsidy programs.

Pertamina has claimed that, as of May it had been able to fully implement the one-price fuel policy with the establishment of fuel distribution agents in 21 locations nationwide, including 10 in Papua and West Papua, both of which are included in the so-called "3T regions,” referring to the country’s frontier; outermost and remote regions.

As a result, the company said that prices of its subsidized gasoline Premium, which has a research octane number (RON) of 88, and subsidized diesel Solar have now dropped to Rp 6,450 (49 US cents) per liter and Rp 5,150 per liter, respectively, from a previous retail price that could have reached Rp 100,000 per liter.

The company aims to establish four more distribution agents in June, two of which will be located in North Sulawesi, while two others will be in Maluku and North Maluku.

If this happens, Pertamina will be able to implement the policy in 25 locations, or nearly half of its original target of 54 locations throughout 2017. It will also penetrate 50 new locations next year and 46 locations in 2019.

“Moreover, there are 13 distributor agents that are in the final development phase and ready to operate soon,” Pertamina marketing director M. Iskandar said on Tuesday during a hearing with members of the House of Representatives’ Commission VII overseeing energy.

“This is in line with the government’s goal to implement the policy in 150‘locations [by 2019].” The Downstream Oil and Gas Regulatory Agency (BPH Migas) has recently called on Pertamina to expand the policy to include 237 locations across the country a move that may further encumber the company.

At present, Pertamina has only stated its readiness to implement the governments one-price fuel policy in 150 locations by 2019 because of high subsidy costs it has to bear, including to development of mini gas stations as well as premium, oil and diesel fuel agents (APMS) in remote areas across the country

“We just want to focus on these 150 locations, because you have to know that what happens on the field is not as easy as what is stated on paper,” said Pertamina President director Elia Massa Manik. According to the company’s calculations, the construction of one APMS in a remote region with a capacity to store 30 barrels of fuel alone may require an investment of about Rp 1 billion.

This is why Pertamina has reported a loss of around Rp 5 trillion since the launch of the policy in October last year.

Moreover, Elia said that, as of March, the government still owed Rp 38 trillion to Pertamina in subsidies the company had paid in advance for the sales of subsidized 3-kilogram liquefied petroleum gas (LPG) canisters. The arrears eventually weighed on Pertamina’s financial performance. At present, the economic price of LPG is Rp 10,500 per kilogram, with a subsidy of Rp 5,750 when it is sold to the poor.

“The price gap is so high. The subsidy is even bigger than the price that people have to pay” Iskandar said. Pertamina started its kerosene-to-LPG conversion program in May 2007. From then until 2015, it claimed it had saved Rp 197.05 trillion in subsidies.

Jakarta Post, Page-13, Wednesday, June 7, 2017

Pertamina Review Project Refinery Financing

House of Representatives requested completion on target

      PT Pertamina will review the financing of its petroleum refinery projects (BBM) it is working on. This is to ensure the project continues without increasing the obligation or debt that is too large for the company. 

     President Director of Pertamina Elia Massa Manik said it is committed to finalize ongoing refinery projects. However, the entire project must be reorganized taking into account the overall financial capabilities of the company. 

     This is to avoid the obligation that is too large to crush the covenant or debt limit that can be taken company. This is mainly related to the request of partners of companies that want Pertamina to provide Offtake guaranty.

"If we have to confess this (offtake guaranty), then the liability of the project is included in our book. Yet this is a big project value, for example Cilacap Refinery US $ 5 billion even Tuban Refinery reached US $ 15 billion, "he said in a hearing with Commission VII DPR RI in Jakarta, Tuesday (6/6).

According to him, it should talk with its partners in the refinery project. As is known, Pertamina is working on improving and increasing the capacity of Cilacap Refinery with Saudi Aramco, while the construction of Tuban Refinery with Rosneft Corporation. With Rosneft, the company has established a steering committee to discuss the development of the Tuban Refinery Project,

"We will talk with partners how to reduce this exposure liability. Because if we recognize the liability in our book, the covenant will be reduced. This will be discussed with partners in the steering committee, "he said.

This is said to also be applied to the Bontang Refinery which is still the evaluation stage. "For example Bontang Refinery, we will see how the product affairs, whether asked offtake guaranty. We prefer joint marketing to avoid it

Unnecessary liability, "he said.

At the Bontang Refinery Project, Pertamina will also only take a minority stake of 510%. Then for a self-made refinery project, such as the Balikpapan Refinery, it will take a more cautious position. The Company will run every stage of development well.

It wants to emphasize three things in project work, namely project quality, timely completion, and competitive.

"As in the Balikpapan Refinery, we decided to complete the FEED (front end engineering design) first, after which procurement begins, with site preparation and others still done," said Massa Manik.

Should be

Related to these refinery projects, the Commission VII of the House of Representatives stressed that all of them must be completed by Pertamina. Member of Commission VII Dito Ganinduto said, through various beleid such as Presidential Regulation 3/2016, the government has targeted to build refineries, both new and RDMP By 2025, it is targeted Indonesia is independent alias no longer imports of fuel.

However, in a meeting in March, revealed the delay in the work of this refinery project. In detail, the completion of the Balikpapan Refinery departs from 2020 to 2021, the Cilacap Refinery from 2021 to 2023, the Dumai Refinery to 2025, and the Bontang Refinery from 2023 to 2025.

"The construction of the refinery is a national strategic project to achieve self-sufficiency in fuel according to the Jokowi-JK Government target in Nawacita/Nine Hope. We have to seriously handle this refinery project because we import so much fuel. If not completed in five years, will be drained of our foreign exchange, "he asserted.

Moreover, the government has issued Presidential Regulation No. 146 of 2015 on the Implementation of Development and Development of Oil Refinery in the Interior and Presidential Regulation No. 3 of 2016 on the Acceleration of the Implementation of National Strategic Project as protection of the law of refinery development.

To meet the self-sufficiency target, in accordance with Attachment to Presidential Regulation 3/2016, the government plans to develop a refinery project through two schemes. First, the construction of two new refineries namely Bontang, East Kalimantan and Tuban-East Java. 

      The second scheme is the refinery development master plan (RDMP) in five refineries covering Balongan-West Java; Cilacap-Central Java; Dumai-Riau; Plaju, South Sumatera and Balikpapan, East Kalimantan.

In the conclusion of the previous hearing meeting with Pertamina, the House Commission VII has also asked Pertamina to speed up the refinery project with a clear target date so as to meet domestic demand. However, he assesses that the progress of the refinery development is not as fast as before.

"I'm seeing it slowing down a bit now. Therefore, it needs a shared commitment to run on target and if possible be faster than the target. Faster, better, "he said.

Member of Commission VII Kurtubi added that the business of fuel imports has always been the arena of seizure of rents and oil and gas mafia. Not only that, imports will only benefit the countries that own refineries. Therefore, Indonesia needs immediate self-sufficiency of fuel.

"In the Draft Law on Migas and even imperatives, we give five years or some say 10 years, after which no one liter could import fuel. This is the order of the Oil and Gas Law being prepared, ready to be ready, "he said.

Straight ahead

Director of Processing and Petrochemistry Megaproject Rachmad Hardadi said all refinery projects are still running. The entire refinery project is targeted to be completed by 2025 at which time the total capacity is 2 million barrels per day (bpd). He said that for Balikpapan's RDMP Refinery, basic design design (BED) and environmental impact analysis (EIA) have been completed. The company is currently working on FEED targeted for completion in the second quarter.

Further, the final investment decision (FID) will be completed in the third quarter followed by long lid ordering and awarding of the winning construction contract (engineering, procurement, and construction / EPC).

"As for Balikpapan Refinery Phase 2 will begin BEDO in 2017 and completed in 2021," he said. At that time, Balikpapan Refinery capacity will increase to 260 thousand bpd with standard Euro V fuel products.

Furthermore for RDMP Refinery Balongan, the company has held auction Linear Programming (LP) Work Model for preparation of BED. The LP Model Work is planned to begin in the third quarter and finish in the fourth quarter of this year. In parallel with this stage, the BEDP for the crude distillation unit (CDU) and licensor selection will begin in the fourth quarter. The project is targeted to be completed in conjunction with Balikpapan Refinery.

For the new refinery in Tuban, Pertamina together with Rosneft has completed a technical feasibility study and a bankability report. Now the company is looking for licensor targeted for completion in the second quarter as well. "Then will be done Pre-Investment Decision (PID) 1 which will finish second quarter, Amdal completed in the third quarter, and BED start

Third quarter of 2017, "said Hardadi.This refinery is targeted to be completed in the fourth quarter of 2023.

For the Cilacap Refinery RDMP worked with Saudi Aramco, BED is targeted to be completed by this quarter. Likewise PID 1 is also expected to be completed this quarter. At the same time, it is also looking for licensor to be completed in the third quarter of 2017.

Next, Amdal is targeted for completion in the third quarter and FEED begins in the fourth quarter of this year. The Cilacap refinery is targeted for completion in the fourth quarter of 2023. As for Bontang refinery, Pertamina is selecting nine companies that are interested in becoming partners. 

The strategic partner and the signing of the project framework agreement will be targeted in the second or third quarter, followed by the implementation of bankability feasibility study (BFS). "For RDMP Refinery Dumai and Bontang Refinery are still under evaluation," said Hardadi.

IN INDONESIAN

Pertamina Kaji Ulang Financing Proyek Kilang

PT Pertamina akan mengkaji ulang pendanaan (financing) proyek-proyek kilang bahan bakar minyak (BBM) yang sedang  digarapnya. Hal ini untuk memastikan proyek tetap berjalan tanpa menambah kewajiban atau utang yang terlalu besar bagi perusahaan. 

     Direktur Utama Pertamina Elia Massa Manik menuturkan, pihaknya berkomitmen merampungkan proyek-proyek kilang yang tengah berjalan. Namun, seluruh proyek ini harus ditata ulang dengan mempertimbangkan kemampuan keuangan perusahaan secara menyeluruh. 

     Hal ini untuk menghindari kewajiban yang terlalu besar sehingga menggerus covenant atau batas utang yang dapat diambil perusahaan. Hal tersebut utamanya menyangkut soal permintaan mitra perusahaan yang menginginkan Pertamina memberikan Offtake guaranty.

“Kalau kami harus akui ini (offtake guaranty), maka liability proyek itu masuk di buku kami. Padahal ini nilai proyek besar, misal Kilang Cilacap US$ 5 miliar bahkan Kilang Tuban mencapai US$ 15 miliar,” kata dia dalam rapat dengar pendapat dengan Komisi VII DPR RI di Jakarta, Selasa (6/ 6).

Menurut dia, pihaknya harus berbicara dengan mitra-mitranya dalam proyek kilang. Seperti diketahui, Pertamina menggarap perbaikan dan peningkatan kapasitas Kilang Cilacap bersama Saudi Aramco, sementara pembangunan Kilang Tuban dengan Rosneft Corporation. Dengan Rosneft, perseroan telah membentuk steering committee untuk membahas perkembangan Proyek Kilang Tuban,

“Kami akan bicara dengan partner bagaimana mengurangi exposure liability ini. Karena kalau diakui liability di buku kami, maka covenant akan berkurang. Ini akan dibahas dengan partner dalam steering comittee," ujarnya.

Hal ini disebutnya juga akan diterapkan pada Kilang Bontang yang masih tahap evaluasi. “Misalnya Kilang Bontang, kita akan lihat bagaimana urusan produknya, apakah diminta offtake guaranty. Kami lebih prefer joint marketing supaya terhindar dari

liability yang tidak perlu,” tuturnya. 

Di Proyek Kilang Bontang, Pertamina juga hanya akan mengambil saham minoritas, yakni 510% saja. Kemudian untuk proyek kilang yang dikerjakan sendiri, seperti Kilang Balikpapan, pihaknya akan mengambil posisi lebih hati-hati. Perseroan akan menjalankan setiap tahap pembangunan dengan baik. 

Pihaknya ingin menekankan tiga hal dalam pengerjaan proyek, yakni kualitas proyek, penyelesaian tepat waktu, dan kompetitif.

“Seperti di Kilang Balikpapan, kami putuskan untuk menyelesaikan FEED (front end engineering design/ desain rinci) dulu, setelah itu mulai procurement, dengan site preparation dan lainnya tetap dikerjakan,” kata Massa Manik.

Harus Jadi

Terkait proyek-proyek kilang ini, Komisi VII DPR RI menekankan bahwa seluruhnya harus dapat diselesaikan oleh Pertamina. Anggota Komisi VII Dito Ganinduto mengatakan, melalui berbagai beleid seperti Peraturan Presiden 3/ 2016, pemerintah telah menargetkan untuk membangun kilang, baik baru maupun RDMP Pada 2025, ditargetkan Indonesia sudah mandiri alias tidak lagi impor BBM.

Namun, dalam rapat pada Maret lalu, terungkap adanya keterlambatan pengerjakan proyek kilang ini. Dirincinya, penyelesaian Kilang Balikpapan mundur dari 2020 menjadi 2021, Kilang Cilacap dari 2021 menjadi 2023, Kilang Dumai menjadi 2025, dan Kilang Bontang dari 2023 menjadi 2025.

“Pembangunan kilang ini merupakan proyek strategis nasional untuk mencapai swasembada BBM sesuai target Pemerintahan Jokowi-JK dalam Nawacita. Kita harus secara serius menangani proyek kilang ini karena kita impor BBM begitu banyak. Kalau tidak selesai dalam lima tahun ini, akan terkuras devisa kita,” tegas dia.

Apalagi, pemerintah sudah menerbitkan Peraturan Presiden No 146 Tahun 2015 tentang Pelaksanaan Pembangunan dan Pengembangan Kilang Minyak di Dalam Negeri dan Perpres No 3 Tahun 2016 tentang Percepatan Pelaksanaan Proyek Strategis Nasional sebagai perlindungan hukum pembangunan kilang.

Untuk memenuhi target swasembada tersebut, sesuai Lampiran Peraturan Presiden 3/2016, pemerintah merencanakan pembangunan proyek kilang melalui dua skema. Pertama, pembangunan dua kilang baru yakni Bontang, Kalimantan Timur dan Tuban-Jawa Timur. 

     Skema kedua adalah peningkatan kapasitas (upgrading) kilang yang ada (refinery development master plan/RDMP) di lima kilang meliputi Balongan-Jawa Barat; Cilacap-Jawa Tengah; Dumai-Riau; Plaju, Sumatera Selatan dan Balikpapan, Kalimantan Timur.

Dalam kesimpulan rapat dengar dengan Pertamina sebelumnya, Komisi Vll DPR juga sudah meminta Pertamina mempercepat proyek kilang dengan target waktu yang jelas sehingga dapat memenuhi kebutuhan dalam negeri. Namun, ia menilai saat ini progres pembangunan kilang tidak secepat sebelumnya. 

“Saya melihat agak melambat sekarang. Oleh karena itu, perlu komitmen bersama agar berjalan sesuai target dan kalau memungkinkan bisa lebih cepat dari target. Lebih cepat, lebih baik," katanya.

Anggota Komisi VII Kurtubi menambahkan bisnis impor BBM selalu menjadi arena rebutan pemburu rente dan mafia minyak dan gas. Tidak hanya itu, impor hanya akan menguntungkan negara-negara pemilik kilang. Karenanya, Indonesia perlu secepatnya swasembada BBM.

“Di Rancangan Undang-Undang Migas bahkan imperatif, kami beri lima tahun atau ada yang bilang 10 tahun, setelah itu tidak boleh satu liter pun impor BBM. Ini perintah Undang-Undang Migas yang sedang disusun, siap siap saja," kata dia.

Jalan Terus

Direktur Megaproyek Pengolahan dan Petrokimia Rachmad Hardadi mengatakan, seluruh proyek kilang tetap berjalan. Seluruh proyek kilang ini tetap ditargetkan selesai pada 2025 di mana saat itu total kapasitasnya mencapai 2 juta bare] per hari (bph). 

     Dikatakannya, untuk RDMP Kilang Balikpapan, desain dasar (basic engineering design/ BED) dan analisis dampak lingkungan (Amdal) telah selesai. Kini perseroan sedang mengerjakan FEED yang ditargetkan rampung pada kuartal kedua ini.

Selanjutnya, keputusan akhir investasi (final investment decision/FID) akan dikerjakan pada kuartal ketiga disusul pemesanan long lid item dan penetapan pemenang kontrak konstruksi (engineering, procurement, and construction/ EPC).

“Sementara untuk Kilang Balikpapan Fase 2 akan dimulai BEDO pada 2017 dan selesai pada 2021,” kata dia. Pada saat itu, kapasitas Kilang Balikpapan akan meningkat menjadi 260 ribu bph dengan produk BBM standar Euro V.

Selanjutnya untuk RDMP Kilang Balongan, perseroan telah menggelar lelang Linear Programming (LP) Model Work untuk persiapan BED. LP Model Work ini direncanakan dimulai pada kuartal ketiga dan selesai pada kuartal keempat tahun ini. Paralel dengan tahapan ini, BEDP untuk crude distillation unit (CDU) dan pemilihan licensor akan dimulai pada kuartal keempat. Proyek ini ditargetkan selesai bersamaan dengan Kilang Balikpapan.

Untuk kilang baru di Tuban, Pertamina bersama Rosneft telah merampungkan studi kelayakan teknis dan bankability report. Kini perusahaan tengan mencari licensor yang ditargetkan selesai pada kuartal kedua ini juga. “Kemudian akan dilakukan Pre-Investment Decision (PID) 1 yang akan selesai kuartal kedua, Amdal rampung pada kuartal ketiga, dan BED mulai kuartal ketiga 2017," tutur Hardadi.  Kilang ini ditargetkan rampung pada kuartal keempat 2023. 

Untuk RDMP Kilang Cilacap yang digarap bersama Saudi Aramco, BED ditargetkan selesai pada kuartal ini. Demikian juga PID 1 juga diharapkan rampung pada kuartal ini. Bersamaan dengan itu, pihaknya juga sedang mencari licensor yang akan selesai pada kuartal ketiga 2017.

Berikutnya, Amdal ditargetkan selesai pada kuartal ketiga dan FEED dimulai pada kuartal keempat tahun ini. Kilang Cilacap ditargetkan selesai pada kuartal keempat 2023. Sementara untuk Kilang Bontang, Pertamina sedang menyeleksi sembilan perusahaan yang menyatakan berminat menjadi mitra. 

     Penetapan strategic partner dan penandatangan framework agreement proyek ditargetkan akan dilakukan pada kuartal kedua atau ketiga, di ikuti dengan pelaksanaan bankability feasibility study(BFS).“ Untuk RDMP Kilang Dumai dan Kilang Bontang masih dalam evaluasi,” kata Hardadi.

Investor Daily, Page-9, Wednesday, June 7, 2017

SKK Migas Will Dissolve, BPH Migas Will Be Joint

Parliamentary Oil and Gas Draft Bill: BPH Migas will be included in the function of Directorate General of Oil and Gas Ministry of ESDM

The House of Representatives (DPR) has submitted a final draft of the revision of the Oil and Gas Law (UU) to the Legislation Body on Monday (5/6). The draft clearly mentions the establishment of a Special Business Entity (SBE/BUK) of Oil and Gas that will move from upstream to downstream.

However, in the final draft of the revision, the Oil and Gas Law does not mention the position of the Special Unit for Upstream Oil and Gas Business Executor (SKK Migas) and the Downstream Oil and Gas Regulatory Agency (BPH Migas) Member of Commission VII DPR, Kurtubi explicitly states, SKK Migas Will be dissolved.

The position of SKK Migas currently violates the Constitution "According to the Constitutional Court (MK), the government model that regulates, government contract signing with the contractor violates the constitution," said Kurtubi

If SKK breaks up, instead of the same institution will be established, but will be combined with Pertamina to become a special business entity. The same fate will also affect BPH Migas. Kurtubi said, for the sake of simplification of the system and efficiency of BPH Migas will enter the organization Directorate General of Oil and Gas Ministry of Energy and Mineral Resources.

In addition to these reasons, Kurtubi said, SKK Migas is currently no work, after the government revoked fuel subsidies. "BPH Migas has lost its jobs, so return it to regulator policy holder, in this case Directorate General of Oil and Gas, to be efficient," said Kurtubi.

The executor of SBE in the final draft is likely to be PT Pertamina. SBE has the obligation to meet the fuel needs of domestic production. "We give 10 years time, Indonesia, Pertamina, or anyone else can no longer import BBM, refinery must be built," he said.

While Chairman of Trade Unions (SP) SKK Migas Dedi Suryadi said, actually the current status of SKK Migas is still temporary, post-MK decision in 2012 ago. But according to him dissolved SKK Migas irrelevant. Dedi also hopes that the revision of the Oil and Gas Law does not favor a certain group.

"The revision of this law is promulgated by the maximum importance of the people and the clarity of investors, not the momentary, pragmatic and certain interest," said Dedi.

According to him, SKK Migas Workers Union is not in a position to side with one of the interests, either joining Pertamina or a special body. Joining Pertamina or any special body there is a plus minus.

On the plus side, operational budget is more independent. While the minus side is Pertamina will become unfocused and too wide its coverage. "But what we want is immediately decided to give assurance from the workers side," said Dedi.

ESDM Ministry spokesman Sujatmiko said the revision of the Oil and Gas Law is the right of the House initiative. The material on the revision of the Oil and Gas Law is not yet officially discussed between the DPR and the government.

IN INDONESIAN

SKK Migas Akan Bubar, BPH Migas Akan Dilebur

RUU Migas versi DPR: BPH Migas akan masuk dalam fungsi Ditjen Migas Kementerian ESDM

Dewan Perwakilan Rakyat (DPR) telah menyerahkan draf final revisi Undang-Undang (UU) Migas ke Badan Legislasi pada Senin (5/6) lalu. Dalam draf tersebut jelas menyebutkan pembentukan Badan Usaha Khusus (BUK) Migas yang akan bergerak dari hulu hingga hilir. 

Namun dalam draf final revisi UU Migas tersebut tidak menyebutkan posisi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) dan Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas) Anggota Komisi VII DPR, Kurtubi dengan tegas menyebutkan, SKK Migas akan dibubarkan.

Pasalnya posisi SKK Migas saat ini melanggar konstitusi "Menurut Mahkamah Konstitusi (MK), model pemerintah yang mengatur, pemerintah yang tandatangan kontrak dengan kontraktor itu melanggar konstitusi," kata Kurtubi 

Jika SKK bubar, sebagai gantinya akan dibentuk lembaga yang sama, tapi akan digabungkan dengan Pertamina menjadi badan usaha khusus. Nasib yang sama juga akan menimpa BPH Migas. Kurtubi bilang, demi penyederhanaan sistem dan efisiensi maka BPH Migas akan masuk organisasi Ditjen Migas Kementerian ESDM.

Selain alasan tersebut, Kurtubi bilang, SKK Migas saat ini sudah tidak memiliki pekerjaan, setelah pemerintah mencabut subsidi BBM. "BPH Migas sudah kehilangan pekerjaan, jadi kembalikan ke regulator pemegang kebijakan, dalam hal ini Ditjen Migas, supaya efisien," kata Kurtubi.

Pelaksana BUK dalam draf final tersebut kemungkinan besar adalah PT Pertamina. BUK memiliki kewajiban memenuhi kebutuhan BBM dari produksi dalam negeri. "Kami beri waktu 10 tahun, Indonesia, Pertamina, atau siapa saja tidak boleh lagi impor BBM, kilang harus dibangun," ujarnya.

Sementara Ketua Serikat Pekerja (SP) SKK Migas Dedi Suryadi mengatakan, sebenarnya status SKK Migas saat ini memang masih sementara, pasca keputusan MK tahun 2012 lalu. Namun menurutnya membubarkan SKK Migas tidak relevan. Dedi juga berharap, revisi Undang-Undang Migas tidak berpihak golongan tertentu.

"Revisi UU ini sccepatnya diundangkan dengan dasar kepentingan sebesar-besarnya rakyat dan kejelasan investor, bukan kepentingan sesaat, pragmatis dan golongan tertentu," kata Dedi.

Menurutnya, Serikat Pekerja SKK Migas tidak dalam posisi memihak salah satu kepentingan, baik bergabung dengan Pertamina atau badan khusus. Bergabung dengan Pertamina maupun badan khusus ada plus minus.

Sisi plusnya, anggaran operasional lebih independen. Sementara sisi minusnya adalah Pertamina akan menjadi tidak fokus dan terlalu luas cakupan-nya. "Tapi yang kami inginkan adalah secepatnya diputuskan untuk memberikan kepastian dari sisi pekerja," tegas Dedi.

Juru bicara Kemenlerian ESDM Sujatmiko mengatakan, revisi UU Migas adalah hak inisiatif DPR. Materi revisi UU Migas tersebut belum resmi dibahas antara DPR dan pemerintah.

Kontan, Page-14, Wednesday, June 7, 2017

If Entry Block Mahakam, Total and Inpex Must Pay

PT Pertamina is busy doing the management of the Mahakam block. On the other hand, the SOE is also waiting for potential partners in the block. Pertanuna Pertamina President Director Elia Massa Manik said Pertamina would be happy if the Mahakam block management was done together. "According to our strategy, we are happy to be able to risk shaving," he said, Tuesday (6/6).

The share down scheme will still be in line with the government's decision in 2015. The decree states, in Pertakua Mahakam block can share down maximum 30%.

While Total E & P Indonesie has sent a Letter to the Minister of Energy and Mineral Resources, asking for share down in Mahakam Block by 39%. So, Massa said, Pertamina will submit the share down decision to the government.

"We share the matter with the Minister of Energy and Mineral Resources, this is the domain in the Minister We are given a letter by ESDM, we may share 30% down, if above 30%, above us," said Massa. He claimed not to know whether Total and Inpex will participate in the Mahakam Block.

According to Massa, if Total and Inpex are interested in participating in the Mahakam Block management then Total and Inpex must still pay participating interest. Because Pertamina will establish business rules in Pertamina share down. "The share down is business to business" he said.

IN INDONESIAN

Jika Masuk Blok Mahakam, Total dan Inpex Harus Bayar

PT Pertamina sedang sibuk melakukan alih kelola Blok Mahakam. Di sisi lain BUMN itu juga sedang menanti calon mitra di blok tersebut. Direktur Utama Pertanuna Elia Massa Manik menyebutkan, Pertamina akan senang jika pengelolaan Blok Mahakam dilakukan bersama. “Sesuai strategi kami, kami senang kalau bisa risk shaving," katanya, Selasa (6/6).

Skema share down tersebut masih akan sesuai keputusan pemerintah pada tahun 2015 lalu. Keputusan tersebut menyatakan, di Blok Mahakam Pertamiua bisa melakukan share down maksimal 30%.

Padahal Total E&P Indonesie telah mengirimkan Sepucuk Surat kepada Menteri ESDM, meminta share down di Blok Mahakam sebesar 39%. Maka, Massa bilang, Pertamina akan menyerahkan keputusan share down tersebut kepada pemerintah.

"Urusan saham ini kami bicarakan dengan Menteri ESDM, ini ranahnya di Menteri. Kami diberikan surat oleh ESDM, kami boleh lakukan share down 30%. Jika di atas 30%, ranahnya di atas kami," kata Massa. Ia mengaku belum mengetahui apakah Total dan Inpex akan ikut di Blok Mahakam.

Menurut Massa, jika Total dan Inpex berminat ikut dalam pengelolaan Blok Mahakam maka Total dan Inpex harus tetap membayar participating interest. Pasalnya Pertamina akan menetapkan aturan bisnis dalam share down Pertamina. "Yang share down itu business to business" tegasnya. 

Kontan, Page-14, Wednesday, June 7, 2017

The Duri-Dumai Gas Pipeline Project Has Not Been Running

The government has given assignment to Perusahaan Gas Negara (PGN) and Pertamina Gas (Pertagas) to synergize together to build gas pipeline together. The assignment was through Decree of the Minister of Energy and Mineral Resources (ESDM) No./5975K/12/NIEM/2016 signed in June 2016, namely PGN and Pertagas in collaboration to build the Duri-Dumai gaan pipeline.

But a year of decision out, Duri-Dumai project has not started yet. Yet it is very clear in the Ministerial Decree mentions, the project is completed in the first quarter of 2017. 

     Public Relations and CSR Pertagas Hatim Ilwan explained, the current process of Duri-Dumai gas pipeline project development is still in the process of preparing the document of the agreement points. "The key document of this agreement is for the development and operation of the joint pipeline, both from commercial and technical aspects," Hatim said

Pertagas is targeting in June 2017 all documents related to the Duri-Dumai project assignment are completed. That way, the synergy between Pertagas and Pertamina in the construction of the project can run. "This milestone includes a test whether Pertamina and PGN can work together," Hatim said.

Meanwhile, Director of PGN Dilo Seno Widagdo said the Duri-Dumai project is indeed a partnership between PGN and Pertagas. The composition of PGN's shares in this project is 40%, the remaining 60% is owned by Pertagas.

IN INDONESIAN

Proyek Pipa Gas Duri-Dumai Belum Berjalan

Pemerintah telah memberikan penugasan kepada Perusahaan Gas Negara (PGN) dan Pertamina Gas (Pertagas) agar saling bersinergi membangun pipa gas bersama-sama. Penugasan itu melalui Keputusan Menteri Energi dan Sumber Daya Mineral (ESDM) No./5975K/12/NIEM/2016 yang diteken pada Juni 2016 lalu, yakni PGN dan Pertagas bekerjasama membangun pipa gas Duri-Dumai.

Namun setahun keputusan keluar, proyek Duri-Dumai ini belum juga dimulai. Padahal sangat jelas dalam Keputusan Menteri tersebut menyebutkan, pengerjaan proyek selesai kuartal-1 2017. 

     Manajer Humas dan CSR Pertagas Hatim Ilwan menjelaskan, saat ini proses pembangunan proyek pipa gas Duri-Dumai masih dalam tahap penyusunan dokumen pokok-pokok perjanjian. "Dokumen pokok-pokok perjanjian ini untuk pembangunan dan pengoperasian pipa bersama, baik dari aspek komersial dan teknis" ujar Hatim 

Pertagas menargetkan pada Juni 2017 ini semua dokumen-dokumen terkait penugasan proyek Duri-Dumai selesai. Dengan begitu, sinergi antara Pertagas dan Pertamina dalam pembangunan proyek tersebut bisa berjalan. "Ini milestone termasuk juga ujian apakah Pertamina dan PGN bisa bekerjasama," kata Hatim.

Sementara itu, Direktur PGN Dilo Seno Widagdo menyebutkan, proyek Duri-Dumai memang merupakan kerjasama antara PGN dan Pertagas. Komposisi saham PGN di proyek ini mencapai 40%, selebihnya yakni sebesar 60% milik Pertagas.

Kontan, Page-14, Wednesday, June 7, 2017