For Efficiency, Pertamina EP Integrated Facilities

PT Pertamina EP continues its efficiency. One way is to integrate production facilities. Such as the integration of production facilities Paku Gadjah Development Project with Asset 2 are both located in South Sumatra.

President Director of PT Pertamina EP Nanang Abdul Manaf said that Paku Gadjah Field is a gas field development project in Pagardewa, Kuang and Gajah area in Muara Enim Regency and Ogan Komering Ulu Regency. The current status of Paku Gadjah is handover the production facility of gas collection station (SPG) Paku Gajah capacity 45 mmscfd. Also SPG Kuang with capacity 25 mmscfd.

The purpose of the formation of Paku Gadjah is to accelerate the monetization of assets, thus obtaining exploration potential in the structure of Pagardewa, Karangdewa, Prabumenang, Tasim, Pemaat, Huang Selatan, Lavatera and Piretriuni. Thus, it can be economically produced.

"This project is an integration of existing production facilities," continued Nanang, in a press release on Wednesday (27/7). Pertamina EP also implements an integrated operating system, in order to ensure the validity of production operations through the network.

IN INDONESIA

Demi Efisiensi, Pertamina EP lntegrasikan Fasilitas

PT Pertamina EP terus melakukan efisiensi. Salah satu caranya, melakukan integrasi fasilitas produksi. Seperti integrasi fasilitas produksi Paku Gadjah Development Project dengan Asset 2 yang sama-sama berada di Sumatra Selatan. 

Presiden Direktur  PT Pertamina EP Nanang Abdul Manaf mengatakan, Lapangan Paku Gadjah merupakan proyek pengembangan lapangan gas di area Pagardewa, Kuang dan Gajah di Kabupaten Muara Enim dan Kabupaten Ogan Komering Ulu. Status saat ini Paku Gadjah sedang serah terima fasilitas produksi stasiun pengumpul gas (SPG) Paku Gajah kapasitas 45 mmscfd. Juga SPG Kuang dengan kapasitas 25 mmscfd. 

Tujuan  pembentukan Paku Gadjah adalah mempercepat monetisasi aset, sehingga mendapat potensi eksplorasi di struktur Pagardewa, Karangdewa, Prabumenang, Tasim, Pemaat, Huang Selatan, Lavatera dan Piretriuni. Jadi, dapat diproduksikan secara ekonomis. 

"Proyek ini merupakan integrasi dari fasilitas produksi yang telah ada," lanjut Nanang, dalam siaran pers, Rabu (27/7). Pertamina EP juga menerapkan sistem operasi terpadu, agar memastikan validitas angka operasi produksi melalui jaringan. 

Kontan, Page-14, Friday, July 28, 2017

The price of oil is hot

The price of West Texas Intermediate (WTI) crude oil continues to strengthen. Thursday (27/7), at 18.30 WIB, WTI oil price of September 2017 delivery contract on the New York Mercantile Exchange rose 0.20% to US $ 48.80 per barrel-compared to the previous day. In fact, the price of oil this time soared 4.11% in a week.

Oil prices continued to rise as Energy Information Administration (EIA) released crude inventories in the United States (US) fell 7.21 million barrels per day last week. This is the lowest level since January 6, 2017. In addition, crude oil stocks in the State of Uncle Sam also reduced to 483.8 million barrels last week. Gasoline reserves fell to 2302 million barrels. Support for oil prices is getting stronger as Nigeria's oil production slows again. This is in line with the leaking oil pipeline of Shell, which contributes Nigeria's oil export of 180,000 barrels per day.

"So far the sentiment is positive, said Research & Analyst Monex Investindo Futures Agus Chandra

Supply Over

Meanwhile, Research & Analyst Asia Tradepoint Futures Deddy Yusuf Siregar said the price of oil is still likely to strengthen up to US $ 49.15 per barrel. If oil can penetrate the price, then oil trend enter the bullish phase. However, supply flood fears still come from some OPEC members, such as Nigeria, Iraq and Libya. The three countries had the freedom to do production.

"For the long term, there is still potential for correction if the three countries are still free of production," Deddy said, Thursday (28/7) oil price will move in the range of US $ 47.75 to US $ 49, 15 per barrel, while Agus predicts, until the next week oil price will move in the range of US $ 42.62-US $ 50, 78 per barrel.

IN INDONESIA

Harga Minyak Semakin Panas

Harga minyak mentah West Texas Intermediate (WTI) terus menguat. Kamis (27/7), pukul  18.30 WIB, harga minyak WTI kontrak pengiriman September 2017 di New York Mercantile Exchange naik 0,20% menjadi US$ 48,80 per barrel dibanding hari sebelumnya. Bahkan, harga minyak kali ini melesat 4,11% dalam sepekan. 

Harga minyak terus naik lantaran Energy Information Administration (EIA) merilis jumlah persediaan minyak mentah di Amerika Serikat (AS) turun 7,21 juta barel per hari pada pekan lalu. Ini merupakan level terendah sejak 6 Januari  2017. Selain itu, stok minyak mentah di Negeri Paman Sam juga berkurang menjadi 483,8 juta barel pekan lalu. 

     Cadangan bensin pun turun menjadi 2302 juta barel. Sokongan bagi harga minyak semakin kuat lantaran produksi minyak Nigeria kembali melambat. Hal ini seiring bocornya pipa minyak milik Shell, yang menyumbang ekspor minyak Nigeria sebesar 180.000  barel per hari. 

"Sejauh ini sentimennya positif, kata Research & Analyst Monex Investindo Futures  Agus Chandra

Banjir Pasokan 

Sementara, Research & Analyst Asia Tradepoint Futures Deddy Yusuf Siregar menyebut, harga  minyak masih berpeluang menguat hingga US$ 49,15 per barel. Jika minyak bisa menembus harga tersebut, maka tren minyak masuk fase bullish. Namun, kekhawatiran banjir pasokan tetap datang  dari beberapa anggota OPEC, seperti Nigeria, Irak dan Libia. Tiga negara tadi mendapat kebebasan melakukan produksi. 

"Untuk jangka panjang harga minyak masih ada potensi koreksi jika ketiga  negara tersebut masih bebas produksi, tambah Deddy.  Menurut, hasil analisa Deddy, harga  minyak hari kamis (28/7) akan bergerak di kisaran US$ 47,75-US$ 49,15 per barel. Sedangkan Agus meramal, hingga sepekan ke depan harga minyak akan bergerak di rentang US$ 42,62-US$ 50, 78 per barel. 

Kontan, Page-14, Friday, July 28, 2017

Anxious Businessman, Jonan Rules Revised

ENERGY SECTOR SUPERVISION

     The Government immediately invited all business actors in the energy sector to request input Related to the revision plan of Minister of Energy and Mineral Resources Regulation no. 42/2017 on the Control of Enterprises on Business Activities in the EMR Sector.

The rules has been in effect since it was issued on July 17, 2017. However, the regulation received a negative response from oil and gas, mining, coal, electricity and geothermal business actors.

Secretary General of the Ministry of Energy and Mineral Resources (ESDM) Teguh Pamudji said it invited the perpetrators Energy sector efforts today (27/7) to provide feedback on rules. The change of article in the rules is suggestion and business actor.

"We asked for an opinion for revision. Indeed tomorrow so be like that [business proposal], "he said

According to him, the event gives opinions and business actors will be led by Vice Minister of EMR Arcandra Hold From his invitation, Some representatives of business actors are expected to attend, namely PT Pertamina, PT Perusahaan Listrik Negara, PT Perusahaan Gas Negara, PT Timah, PT Aneka Tambang and PT Bukit Asam.

In addition, the ESDM Ministry also invited associations such as the Indonesian Petroleum Association (IPA), the Indonesian Natural Gas Trader Association (INGTA), the Indonesian Coal Mining Association (APBI), the Indonesian Mining Association (IMA), the Association of Indonesian Private Electric Manufacturers (APLSI), the Association Geothermal (API) and Renewable Energy Society of Indonesia (METI).

In the rules, the ESDM Minister has the authority to reject the change of directors. Whereas the appointment of directors was agreed upon Through the general meeting of shareholders (GMS) which has been regulated in Law no. 40/2007 on Limited Liability Companies.

In the upstream oil and gas sector, Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) has the authority to reject share transfers and share transfer of participation. Oil and Gas Upstream Analyst Wood Mackenzie Johan Utama said any regulation that adds bureaucracy also limits the movement of business actors will reduce investor interest.

"Regulations that are considered to limit or add to the complexity of bureaucracy in a sector will further reduce investor interest," he said. Upstream Analyst Oil and Gas Wood Mackenzie Johan Utama

He considered, the newly issued regulations received a negative response from business actors. On the negative response of business actors, the government revised regulations. On the positive side, he called the government to respond to the complaints of business actors. On the other hand, it is Giving the impression that the policy is made less mature. Thus, the perception that there is low regulatory stability in Indonesia.

Earlier, President Joko Widodo reminded the minister to be careful in issuing new regulations. Regulations that narrow the investor space will not support government efforts to increase the realization of investment.

     Deputy Minister of Energy and Mineral Resources Arcandra Tahar said it was still reviewing what rules  would be improved to make the investment climate more conducive. Since 2017, there have been 44 Regulations of the Minister of Energy and Mineral Resources signed by Ignatius Jonan.

"We're studying," said Arcandra.

Meanwhile, energy business entrepreneurs are concerned with the Regulation of the Minister of Energy and Mineral Resources that will supervise the company in a manner Directly including changes to directors and share ownership.

Businesspeople in the energy sector assess the meeting as a form of government intervention that could disrupt the company's performance. The regulation states that the government will oversee direct changes to the directors of private companies in energy sectors.

AS A FORM OF INTERVENTION

Riza Husni, Chairman of the Association of Indonesian Hydroelectric Power, said that the regulation is a form of intervention that could disrupt the business world. The government may arbitrarily determine the board of directors of a company.

"It could be the government putting people who do not know at all about energy in a company, for example Retirees from the Ministry of Energy and Mineral Resources, or anyone else, "he said

In fact, he said, the regulation is controlled by a group of people who want to have a position in the company. Riza explained, the government should be able to issue policies that improve the investment climate in the energy sector.

Currently, there are still many problems in the field of electricity and other energy that still need to be given a solution.

"For example low cost of production cost [BPP] of electricity or giving intensive to companies and the like."

Minister of Energy and Mineral Resources Regulation no. Minister of Energy and Mineral Resources Regulation no. 42/2017 it also requires the company to request Approval from the government in the transfer of shares

Deputy Executive Director of the Indonesian Mining Association, Hendra Sinadia, said mining and mineral business actors Coal (minerba) will mita government's explanation of the policy.

Chairman of the Indonesian Employers' Association (Apindo) on Energy and Mineral Resources Sammy Hamzah said it would seek clarity from the government to determine appropriate measures, such as the revision of ruless.

"The world of oil and gas business can be disturbed by the regulation. Already many reports from friends of business actors. Government is Arbitrarily in determining directors and transfer of shares, "said Sammy who also serves as Director of the Indonesian Petroleum Association.

Meanwhile, Head of Communications, Public Information Services and Cooperation Bureau of the Ministry of Energy and Mineral Resources Sujatmiko explained that the Minister of Energy and Mineral Resources Regulation no. 42/2017 is nothing new, but a reaffirmation of the legislation on which coaching and supervision are based of Minister of EMR.

"For example, when Medco took over Newmont and Adaro took over BHP, so so far each of the Directors General or Head of SKK has evaluated based on existing work guidelines standards. The evaluation is submitted to the Minister of EMR, "explained Sujatmiko.

Energy expert University of Indonesia Garniwa rate, thr rule it as the implementation of Article 33 paragraph (3) of the 1945 Constitution, which is done through increased supervision in the energy sector and mineral resources in order to realize the benefits as much as possible for the welfare of the people. According to him, the government needs to be strict in implementing rules despite reaping contradictions.

IN INDONESIA

Pebisnis Cemas, Aturan Jonan Direvisi

PENGAWASAN SEKTOR ENERGI

Pemerintah segera mengundang seluruh pelaku usaha di sektor energi untuk meminta masukan Terkait dengan rencana revisi Peraturan Menteri ESDM No. 42/2017 tentang Pengawasan Pengusahaan pada Kegiatan Usaha di Sektor ESDM.

Beleid itu telah berlaku sejak diterbitkan pada 17 Juli 2017. Namun, regulasi itu langsung mendapat respons negatif dari pelaku usaha minyak dan gas bumi, pertambangan, batu bara, kelistrikan, dan panas bumi.

Sekretaris Jenderal Kementerian Energi dan Sumber Daya Mineral (ESDM) Teguh Pamudji mengatakan, pihaknya mengundang pelaku usaha sektor energi pada hari ini (27/7) untuk memberikan masukan terkait dengan beleid itu. Perubahan pasal dalam beleid itu merupakan saran-saran dan pelaku usaha.

“Kami minta pendapat untuk revisi. Memang besok ya jadi seperti itu [usulan pelaku usaha]," ujarnya 

Menurutnya, acara memberikan pendapat dan pelaku usaha akan dipimpin Wakil Menteri ESDM Arcandra Tahan Dari undangannya, beberapa perwakilan pelaku usaha yang diharapkan hadir, yakni PT Pertamina, PT Perusahaan Listrik Negara, PT Perusahaan Gas Negara, PT Timah, PT Aneka Tambang,  dan PT Bukit Asam.

Selain itu, Kementerian ESDM juga mengundang asosiasi seperti Indonesian Petroleum Association (IPA), Indonesian Natural Gas Trader Assocation (INGTA), Asosiasi Penambangan Batubara Indonesia (APBI), Indonesian Mining Association (IMA), Asosiasi Produsen Listrik Swasta Indonesia (APLSI), Asosiasi Panas bumi (API) dan Masyarakat Energi Terbarukan Indonesia (METI). 

Daiam beleid itu, Menteri ESDM memiliki kewenangan untuk menolak perubahan direksi. Padahal penunjukkan direksi disepakati melalui rapat umum pemegang saham (RUPS) yang telah diatur dalam Undang Undang No. 40/2007 tentang Perseroan Terbatas.

Di sektor hulu minyak dan gas bumi, Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) memiliki wewenang untuk menolak peralihan saham dan peralihan saham partisipasi. Analis Hulu Minyak dan Gas Bumi Wood Mackenzie Johan Utama mengatakan, regulasi apapun yang menambah birokrasi juga membatasi gerak pelaku usaha akan mengurangi minat investor.

“Regulasi yang dianggap membatasi atau menambah kerumitan birokrasi di suatu sektor akan semakin mengurangi minat investor,” katanya. Analis Hulu Minyak dan Gas Bumi Wood Mackenzie Johan Utama

Dia menilai, regulasi yang baru diterbitkan mendapat respons negatif dari pelaku usaha. Atas respons negatif pelaku usaha, pemerintah melakukan revisi peraturan. Sisi positifnya, dia menyebut pemerintah mau merespons keluhan pelaku usaha. Di sisi lain, hal tersebut menimbulkan kesan bahwa kebijakan dibuat kurang matang. Dengan demikian, persepsi yang timbul justru rendahnya kestabilan regulasi di Indonesia.

Sebelumnya, Presiden Joko Widodo mengingatkan agar menteri berhati-hati dalam mengeluarkan regulasi baru. Regulasi yang mempersempit ruang investor tak akan mendukung upaya pemerintah untuk meningkatkan realisasi penanaman modal. 

Wakil Menteri ESDM Arcandra Tahar mengatakan, pihaknya masih mengkaji beleid mana yang kira-kira akan diperbaiki untuk membuat iklim investasi lebih kondusif. Sejak 2017, sudah ada 44 Peraturan Menteri ESDM yang diteken Ignasius Jonan. 

“Sedang kami kaji," kata Arcandra.

Sementara itu, pelaku usaha bidaang energi cemas dengan adanya Peraturan Menteri ESDM yang akan mmengawasi perusahaan secara langsung termasuk perubahan direksi dan kepemilikan saham.

Pebisnis di sektor energi menilai pertemuan itu sebagai bentuk intervensi pemerintah yang dapat menganggu kinerja perusahaan. Dalam aturan itu dijelaskan pemerintah akan mengawasi secara langsung perubahan direksi perusahaan swasta di seklor energi.

SEBAGAI BENTUK INTERVENSI 

Riza Husni, Ketua Asosiasi Pembangkit Listrik Tenaga Air Indonesia, mengatakan bahwa aturan tersebut bentuk intervensi yang bisa mengganggu dunia usaha. Pemerintah bisa saja sewenang-wenang menentukan direksi suatu perusahaan.

“Bisa saja pemerintah menempatkan orang-orang yang tidak tahu sama sekali tentang energi di suatu perusahaan, misalnya pensiunan dari Kementerian ESDM, atau siapa saja,” katanya 

Bahkan, dia menyebutkan, peraturan tersebut dikendalikan oleh sekelompok orang yang ingin punya jabatan di perusahaan. Riza menjelaskan, seharusnya pemerintah dapat mengeluarkan kebijakan yang meningkatkan iklim investasi di sektor energi. Saat ini, masih banyak masalah di bidang kelistrikan dan energi lainnya yang masih perlu diberikan solusi.

“Misalnya tarif biaya pokok produksi [BPP] listrik yang rendah atau memberikan intensif kepada perusahaan dan semacamnya."

Peraturan Menteri ESDM No. Peraturan Menteri ESDM 1 No. 42/2017 tersebut juga mewajibkan perusahaan meminta persetujuan dari pemerintah dalam pengalihan saham

Deputi Direktur Eksekutif Asosiasi Pertambangan Indonesia Hendra Sinadia mengatakan, pelaku usaha pertambangan mineral dan batu bara (minerba) akan mita penjelasan pemerintah atas kebijakan itu.

Ketua Asosiasi Pengusaha Indonesia (Apindo) Bidang Energi dan Sumber Daya Mineral Sammy Hamzah mengatakan, pihaknya akan meminta kejelasan dari pemerintah untuk mementukan langkah yang tepat, seperti revisi aturan itu.

“Dunia usaha migas bisa terganggu dengan aturan itu. Sudah banyak laporan dari teman-teman pelaku usaha. Pemerintah bersifat semena-mena dalam menentukan direksi dan pengalihan saham,” kata Sammy yang juga menjabat sebagai Direktur Indonesian Petroleum Association.

Sementara itu, Kepala Biro Komunikasi, Layanan Informasi Publik dan Kerja Sama Kementerian ESDM Sujatmiko menjelaskan, muatan Peraturan Menteri ESDM No. 42/2017 bukan hal yang baru, melainkan penegasan kembali dari perundang-undangan yang menjadi dasar pembinaan dan pengawasan oleh Menteri ESDM.

"Dari dulu memang perlu persetujuan menteri. Contoh, saat Medco mengambil alih Newmont dan Adaro mengambil alih BHP. Jadi selama ini masing-masing Direktur Jenderal atau Kepala SKK mengevaluasi berdasarkan standar pedoman kerja yang ada. Hasil evaluasinya diserahkan ke Menteri ESDM,” terang Sujatmiko.

Pakar energi Universitas Indonesia Garniwa menilai, beleid itu sebagai implementasi Pasal 33 ayat (3) UUD 1945, yang dilakukan melalui peningkatan pengawasan di sektor energi dan sumber daya mineral guna mewujudkan manfaat yang sebesar-besarnya bagi kemakmuran rakyat. Menurutnya, pemerintah perlu bersifat tegas menjalankan aturan itu meski menuai pertentangan. 

Bisnis Indonesia, Page-30, Thursday, July 27, 2017

Presidential Regulation of Gas Network Will Soon Rise

Construction of gas network became one of the flagship programs of the Ministry of Energy and Mineral Resources (ESDM). Through the development of the gas network is expected to reduce state expenditure to import Liquefied petroleum gas (LPG).

      So it is no wonder every year the government continues to spend funds to build a gas network. Later the government also plans to issue a Presidential Regulation related gas network for the construction can be faster.

Director of Planning and Development of Infrastructure and Development of Oil and Gas Infrastructure of ESDM Alimuddin Baso said the presence of the Perpres placed the gas network into the national strategic project. Thus, all stakeholders, both central and local government, must support the gas network project.

"So there is no such thing as a permit, if it can be a day, why should a week, that is an example," said Alimuddin, Wednesday (27/7).

So far there have been one to two areas that are good enough in giving permission to build gas network.

"We are spreading that information, becoming a prototype for other areas," he said.

In addition to regulating the national strategic project, the Presidential Regulation of Gas Network will also regulate the allocation of gas which has been the obstacle to network development. Including the issue of toll fee will also be regulated in the Presidential Regulation.

"Until now, the toll fee has all regulation, and when we want to reach the toll tariff, there must be a trigger, the trigger must be regulated," said Alimuddin. The completion of this toll fee must be changed through regulation.

"So there is lex specialis in there, if we look for conventional way does not finish the problem," said Alimuddin.

This Presidential Regulation is being harmonized in the Ministry of Justice and Human Rights and is expected to be published soon.

"There is usually a discussion once again," he said. For information, the government since the end of 2016 has set the allocation of funds for the construction of gas networks in the 2017 Budget (APBN), the Government targets 57,000 household connections (SR) can be built this year. But until mid-2017, network construction has just begun.

"Just got a winner in April-May, so just started shopping goods, mobilization," he said.

IN INDONESIA

Peraturan Presiden Jaringan Gas Akan Segera Terbit

Pembangunan jaringan gas menjadi Salah satu program unggulan Kementerian Energi dan Sumber Daya Mineral (ESDM). Melalui pembangunan jaringan gas tersebut diharapkan bisa menekan pengeluaran negara untuk impor Liquefied petroleum gas (LPG) .

      Maka tidak heran setiap tahun pemerintah terus mengeluarkan dana untuk membangun jaringan gas. Belakangan pemerintah juga berencana menerbitkan Peraturan Presiden terkait jaringan gas agar pembangunan bisa lebih cepat.

Direktur Perencanaan dan Pembangunan Infrastruktur dan Pembangunan Infrastruktur Migas ESDM Alimuddin Baso mengatakan,  kehadiran perpres tersebut  menempatkan jaringan gas masuk dalam proyek strategis nasional. Dengan begitu suluruh pemangku kepentingan, baik pemerintah pusat maupun daerah harus mendukung proyek jaringan gas.

"Jadi tidak ada lagi misalnya harus ada izin. Kalau bisa sehari, kenapa harus sepekan, itu contoh," kata Alimuddin, Rabu (27/7).   

Sejauh ini sudah ada satu hingga dua daerah yang sudah cukup bagus dalam memberikan izin pembangunan jaringan gas.  

"Kami menyebarkan informasi itu, menjadi suatu prototipe untuk daerah lain, " katanya.

Selain mengatur soal proyek strategis nasional, Peraturan Presiden Jaringan Gas juga akan mengatur mengenai alokasi gas yang selama ini menjadi kendala pembangunan jaringan. Termasuk soal masalah toll fee juga akan diatur dalam Peraturan Presiden tersebut. 

"Selama ini toll fee punya regulasi semua. Ketika kami ingin mencapai tarif tol tentu harus ada trigger, ya trigger harus regulasi  juga," kata  Alimuddin. Penyelesaian mengenai toll fee ini memang harus diubah melalui regulasi. 

“Supaya ada lex specialis di situ, kalau kami mencari cara konvensional tidak selesai masalahnya,” ujar Alimuddin.

Peraturan Presiden ini sedang dalam harmonisasi di Kementerian Hukum dan HAM dan diharapkan bisa  segera terbit.

"Biasanya ada pembahasan sekali lagi," ujarnya. Sebagai informasi, pemerintah sejak akhir tahun 2016 telah menetapkan alokasi dana untuk pembangunan jaringan gas dalam Anggaran Pendapatan dan Belanja (APBN) 2017, Pemerintah menargetkan Sebanyak 57.000 sambungan rumah tangga (SR) bisa dibangun pada tahun ini. Namun hingga pertengahan tahun 2017, pembangunan jaringan baru saja dimulai. 

"Baru saja dapat pemenang di bulan April-Mei, sehingga baru saja mulai belanja barang, mobilisasi," kata dia.

Kontan, Page-14, Thursday, July 27, 2017

IDD Gas Project Gendola Gehem Comes Soon

After a long stop, there is good news also from the second phase of Indonesia Deepwater Development (IDD) project. PT Chevron Indonesia, as the IDD project operator, has submitted a proposal for the revision of IDD plan of development phase II, namely the development of Gendalo-Gehem field.

As is known, the project IDD Stage I of Bangka Field is already in operation. In 2008 Chevron proposed a plan of development with an investment value of US $ 6 billion. Then the investment was revised in 2013 and then became US$ 12 Milliar and the new is currently given a revision again. 

    Deputy Minister of Energy and Mineral Resources Arcandra Tahar said the IDD Project Phase II has already started, but he can not divulge the contents of the proposal, including the decline in investment and incentives in the form of investment credit that Chevron submitted in the proposal POD IDD phase II.

Arcandra just mentioned, last week the government has received a report of the proposal from Chevron IDD and is now being processed by the Special Unit for Upstream Oil and Gas Business Activities (SKK Migas).

"Until where it started already in SKK Migas, not yet, seen again," said Arcandra, Tuesday (25/7) night.

Projected, Gehem field could produce 420 million standard cubic feet per day (mmscfd) gas and 27,000 barrels per hour (bph) of oil. While from Gendalo Field is projected to produce up to 700 mmscfd of gas and 25,000 bpd of oil.

IN INDONESIA

Proyek Gas IDD Gendola Gehem Segera Dimulai

Setelah lama terbengkalai, ada kabar gembira juga dari proyek Indonesia Deepwater Development (IDD) tahap II. PT Chevron Indonesia selaku operator proyek IDD telah memasukkan proposal revisi plan of development IDD tahap II, yaitu pengembangan lapangan Gendalo-Gehem. 

Seperti diketahui, royek IDD Tahap I yakni Lapangan Bangka sudah beroperasi. Pada tahun 2008 Chevron mengajukan proposal plan of development dengan nilai investasi US$ 6 Miliar. Kemudian investasi tersebut direvisi pada tahun 2013 lalu menjadi US$ 12 Milliar dan baru saat ini diberikan revisi lagi. 

     Wakil Menteri ESDM Arcandra Tahar mengatakan proyek IDD Tahap II tersebut sudah dimulai, tapi ia tidak bisa membocorkan isi proposal itu, termasuk mengenai penurunan investasi dan insentif berupa investment credit yang sempat diajukan oleh Chevron dalam proposal POD IDD tahap II. 

Arcandra hanya menyebut, pekan lalu pemerintah telah menerima laporan proposal IDD dari Chevron dan kini sedang diproses oleh Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). 

"Sampai di mana mulainya sudah di SKK Migas, belum, dilihat lagi,” ujar Arcandra. Selasa (25/7) malam. 

Diproyeksi, lapangan Gehem bisa menghasilkan gas 420 million standart cubic feet  per day (mmscfd) dan minyak 27.000 barrels  per hours (bph). sementara itu dari Lapangan Gendalo diproyeksi akan menghasilkan gas hingga 700 mmscfd dan minyak 25.000 bph. 

Kontan, Page-14, Thursday, July 27, 2017

East Natuna Block Offered to Inpex

The government will offer East Natuna Block to the Japanese oil and gas company, lnpex Corporation, after ExxonMobil and PTT EP Thailand leave from the block. Coordinating Minister for Marine Affairs Luhut Binsar Panjaitan revealed that the offer was a follow-up after ExxonMobil and PTT EP Thailand withdrew from consortium that became East Natuna operator.

"Exxon and PTT are already leaving. So we want to offer [East Natuna Block] to the others. Lnpex. Yes, to Japan, "said Luhut after facing President Joko Widodo at the Presidential Palace Complex on Wednesday (26/7). The consortium previously consisted of three companies. In addition to the US company ExxonMobil and PTT EP Thailand, PT Pertamina as head of the consortium.

"Yes, at least now is Inpex or Japan, the lnpex is his MITI [Ministry of Trade and Industry]," he said.

ExxonMobil chose to leave the East Natuna Block gas development project in the waters of the Riau Archipelago because it is considered incompatible with economies of scale. Previously, Vice President of Public & Government Affairs ExxonMobil Indonesia Erwin Maryoto said, after completing the study together with the consortium, the company did not want to continue the activities and discussions about East Natuna

Technology and market review (TMR) conducted since early 2016. The study aims to identify technology as well as commercial aspects so that the project can be developed according to economies of scale. However, from the market review completed in June 2017 it was found that the project was not worth the investment. In fact, the government wants the development of gas in Natuna waters can be realized because of its leading location and large gas potential.

By the end of 2016, there was an option to immediately sign a cooperation contract. Based on data from the Ministry of Energy and Mineral Resources, East Natuna Block concluded a potential of 222 trilion cubic feet (tcf) with only 46 tcf of which gas could be produced.

IN INDONESIA

Blok East Natuna Ditawarkan ke Inpex

Pemerintah akan menawarkan Blok East Natuna kepada perusahaan minyak dan gas bumi asal Jepang, lnpex Corporation, setelah ExxonMobil dan PTT EP Thailand mundur dari blok tersebut. Menteri Koordinator Bidang Kemaritiman Luhut Binsar Panjaitan mengungkapkan, penawaran tersebut adalah tindak lanjut setelah ExxonMobil dan PTT EP Thailand mundur dari konsorsium yang menjadi operator East Natuna.

“Exxon dan PTT memang sudah hengkang. Jadi kami mau tawarkan [Blok East Natuna] ke yang lain. lnpex. lya, ke Jepang,” kata Luhut usai menghadap Presiden Joko Widodo di Kompleks Istana Kepresidenan, Rabu (26/7). Konsorsium tersebut sebelumnya terdiri dari tiga perusahaan. Selain perusahaan AS ExxonMobil dan PTT EP Thailand, PT Pertamina sebagai pimpinan konsorsium itu. 

“Ya, paling tidak sekarang Inpex atau Jepang, lnpex itu miliknya MITI [Ministry of Trade and lndustry],” ujarnya.

ExxonMobil memilih hengkang dari proyek pengembangan gas Blok East Natuna di perairan Kepualauan Riau karena dinilai tidak sesuai dengan skala keekonomian. Sebelumnya, Vice President Public & Government Affairs ExxonMobil Indonesia Erwin Maryoto mengatakan, setelah nenyelesaikan kajian bersama dengan konsorsium, perusahaan tidak ingin melanjutkan kegiatan maupun pembahasan soal East Natuna. 

Kajian teknologi dan pasar (technology and market review/TMR) dilakukan sejak awal 2016. Kajian itu bertujuan untuk mengidentifikasi teknologi juga aspek komersial sehingga proyek bisa dikembangkan sesuai dengan skala ekonomi.  Namun, dari kajian pasar yang diselesaikan pada Juni 2017 itu didapatkan bahwa proyek tidak layak investasi. Padahal, pemerintah menginginkan agar pengembangan gas di perairan Natuna bisa segera terealisasi karena lokasinya yang terdepan dan potensi gasnya yang besar. 

Pada akhir 2016, sempat terdapat opsi untuk segera meneken kontrak kerja sama. Berdasarkan data Kementerian ESDM, Blok East Natuna menyimpulkan potensi sebesar 222 trilion cubic feet (tcf) dengan hanya 46 tcf gas di antaranya yang bisa diproduksi.

Bisnis Indonesia, Page-30, Thursday, July 27, 2017

Dinner-Breakfast Bargaining The Freeport Dispute

Report From Houston

Sylvia Shirley Malinton complained of the heat. Whereas the popular Gita Cinta singer from high school in the early 1980s was already 1.5 years living in Houston, Texas, United States, and felt the weather city of 2.2 million people on Monday (24/7) is very missed.

"This temperature is 110 degrees [Fahrenheit]. Very hot, let alone very high humidity air, about 80% become hot. Want to enter the AC room alone if so, "said Executive Officer of the Consul General of the Republic of Indonesia in Houston. Shirley is now a career diplomat chosen by her not to be a singer and movie star. These days, he is busy accompanying the group of Energy and Mineral Resources Minister Ignasius Jonan to visit a number of multinational corporations engaged in mining, oil, and gas.

Jonan's first visit schedule with his entourage, Monday, is the headquarters of ConocoPhillips oil company. Then they went on goodwill to General Electric's Baker Hughes oil service company.

In ConocoPhillips, Jonan, who was welcomed by Chairman and CEO Ryan Lance, negotiated a contract on oil and gas field management that would end as South Jambi Block (January 2020). Tuesday morning Jonan visits Chevron and will be accepted by Mary Boroughs, President of Chevron Environment Management Company.

After that in the evening-Wednesday morning Jakarta time, EMR Minister with entourage invited to dinner with Chief Executive Officer Freeport McMoran Richard Adkerson. In a way, Richard Adkerson's dinner invitation was quite sudden. Jonan could not meet the dinner invitation for having to attend dinner with Exxon executives.

The Indonesian delegation who attended the dinner with Freeport was led by Director General of Mineral & Coal Bambang Gatot Anyono. Director of the Central Authority and International Law of the Ministry of Justice and Human Rights Cahyo R. Muzhar also participated in the meeting. He is one of the keys to the Indonesian government if it is forced to meet with Freeport in the international arbitration tribunal. Reportedly, two Cahyo staff met a number of lawyers in Houston since the beginning of this week pending a meeting with Freeport. Actually, since from Jakarta, Jonan is scheduled to hold a breakfast meeting on Wednesday (26/7).

From its name, dinner and breakfast were very informal, although both sides have been involved in such hot talks since early 2017. Why not? Meeting with oil companies like ConocoPhillips, Chevron, ExxonMobil, Baker Hughes, Schlumberger is definitely something crucial. Moreover, the government has just changed the pattern of oil exploration cooperation into a royalty-based gross split scheme from previous cost recovery-cost-based schemes issued by contractors.

However, it can not be denied that meeting with Freeport is the most eagerly awaited public. Moreover, the warming up of this negotiation has been going on for a long time, even had time to circulate information that the Indonesian government has approved the extension scheme of cooperation with Freeport, but later denied.

Houston is as hot as heating up the growing rumors in Jakarta about the meeting. The situation became even more hectic after the union claimed 4,000 Freeport Indonesia workers claimed to extend the strike agenda. In the company's version of the mine, the strike employees are considered to have resigned.

Bisnis Indonesia, the only media invited in this working visit, also felt the atmosphere of inmost member of the delegation. Of course, I ask Jonan, is this a meeting that determines the fate of Indonesian-Freeport business cooperation?

He replied; No! "This is a return visit after Richard Adkerson met me four times in Jakarta. I think, as a courtesy in business, meeting him in Houston is a good thing. "

Jonan insists, until now that he has dinner and breakfast with Richard, the negotiating position has not changed much.

"This is part of the path of a negotiation. Of course, the final decision will be obtained after both sides agree on four important issues related to the negotiations. "

The four crucial issues are the continuation of operations, construction of smelter facilities, divestment of shares, and fiscal provisions.

"Without the two parties agreeing on these four issues, it is not possible to say this negotiation is declared over. Actually, the return of the two parties to the negotiating table is a step forward. Especially after Richard in February 2017 threatened to bring a dispute to the international arbitration tribunal that Jonan immediately met with the imagery of Freeport that he thought 'elephant' turned out to be a 'cow', concerning the company's contribution to Indonesia.

However, the hot atmosphere slowly subsided after PT Freeport Indonesia President Chappy Hakim resigned and Richard returned to his country. Freeport vacated the position of President Director and recruited Tony Wenas as Executive Vice President, a former employee who served as President Director of PT International Nickel Indonesia Tbk-now PT Vale Indonesia Tbk-and President Director of PT Riau Andalas Pulp & Paper

Tony's calm nature, perhaps contributing to the cool atmosphere, as well as the willingness of the two parties to ease the atmosphere back to the business principle of win-win solutions.

On several occasions, the executive said that the talks were positive. To find out more, I met Tony since I was in Jakarta. Tuesday, at the St. Regis Hotel, Houston, he agreed with Jonan that this meeting was a groove The right to reach a negotiated agreement.

"So there is no final agreement on four crucial things."

He stated that Freeport's meeting with the Indonesian government in the United States became a further innovation.

"Thus we can achieve our goals in terms of contract extension and investment certainty together. Meanwhile, the Government can also fulfill some of its wishes. "

Then, how can the dinner-breakfast diplomacy between Jonan-Richard who starts this afternoon? Of course very thrilling. Could be, it resembles the lyrics of Gita Cinta song from Shirley Marlinton High School; "I'm looking for a happy slit, in the middle of a thorny path".

IN INDONESIA

Diplomasi Dinner-Breakfast Sengketa Freeport  

Sylvia Shirley Marlinton mengeluh kepanasan. Padahal pelantun lagu Gita Cinta dari SMA yang populer pada awal 1980-an itu sudah 1,5 tahun tinggal di Houston, Texas, Amerika Serikat, dan merasa cuaca kota berpenduduk 2,2 juta jiwa tersebut pada Senin (24/7) sangat kelewatan.

“ini suhunya 110 derajat [Fahrenheit]. Panas sekali, apalagi kelembaban udara sangat tinggi, sekitar 80% yang menjadi tambah panas. Ingin-nya masuk ruang AC saja kalau begini,” tutur Pelaksana Tugas Konsul Jenderal Republik Indonesia di Houston itu. Shirley sekarang adalah seorang diplomat karier yang dipilihnya setelah tidak jadi penyanyi dan bintang film. Hari-hari ini, dia sedang sibuk mendampingi rombongan Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan melakukan kunjungan kerja ke sejumlah korporasi multinasional yang bergerak dalam pertambangan, minyak, dan gas.

Jadwal kunjungan pertama Jonan beserta rombongan, Senin, adalah ke kantor pusat perusahaan minyak ConocoPhilllips. Kemudian mereka melanjutkan muhibah ke perusahaan servis perminyakan Baker Hughes milik General Electric.

Di ConocoPhillips, Jonan yang diterima Chairman dan CEO Ryan Lance merundingkan soal kontrak pengelolaan lapangan migas yang akan berakhir seperti Blok South Jambi (Januari 2020). Selasa pagi Jonan mengunjungi Chevron dan akan diterima oleh Mary Boroughs, President Chevron Environment Management Company. 

Setelah itu pada malamnya-Rabu pagi waktu Jakarta, Menteri ESDM bersama rombongan diundang makan malam dengan Chief Executive Officer Freeport McMoran Richard Adkerson. Bisa dibilang, undangan dinner Richard Adkerson cukup mendadak. Jonan tidak bisa memenuhi undangan dinner itu karena harus menghadiri makan malam bersama eksekutif Exxon.

Delegasi Indonesia yang hadir dalam dinner dengan Freeport dipimpin oleh Direktur Jenderal Mineral & Batubara Bambang Gatot Anyono. Direktur Otorita Pusat dan Hukum Internasional Kementerian Hukum dan Hak Asasi Manusia Cahyo R. Muzhar juga ikut serta dalam pertemuan itu. Dia adalah salah satu kunci bagi pemerintah Indonesia jika terpaksa bertemu dengan Freeport di peradilan arbitrase internasional. Kabarnya, dua staf Cahyo menemui sejumlah lawyer di Houston sejak awal pekan ini sambil menunggu jadwal pertemuan dengan Freeport. Sebenarnya, sejak dari Jakarta, Jonan dijadwalkan hanya menggelar breakfast meeting pada Rabu (26/7).

Dari namanya, makan malam dan sarapan terasa sangat informal, kendati kedua pihak telah terlibat dalam perundingan yang begitu panas sejak awal 2017. Betapa tidak? Pertemuan dengan perusahaan minyak seperti ConocoPhilips, Chevron, ExxonMobil, Baker Hughes, Schlumberger jelas sesuatu yang krusial. Apalagi pemerintah baru saja mengubah pola kerja sama eksplorasi minyak menjadi skema gross split berpatokan rolyalti dari sebelumnya cost recovery-skema berbasis biaya yang dikeluarkan kontraktor.

Namun, tidak bisa dipungkiri, pertemuan dengan Freeport adalah yang paling ditunggu-tunggu publik. Apalagi pemanasan dari negosiasi ini sudah berlangsung lama, bahkan sempat beredar informasi bahwa pemerintah Indonesia telah menyetujui skema perpanjangan kerja sama dengan Freeport, tetapi kemudian dibantah.

Houston yang panas seperti semakin memanaskan rumor yang berkembang di Jakarta ihwal pertemuan tersebut. Keadaan semakin riuh setelah serikat pekerja mengklaim 4.000 pekerja Freeport Indonesia menyatakan memperpanjang agenda mogok kerja. Dalam versi perusahaan tambang tersebut, para karyawan pelaku mogok sudah dianggap mengundurkan diri. 

Bisnis Indonesia, satu-satunya media yang diundang dalam kunjungan kerja ini, turut merasakan suasana kebatinan anggota delegasi. Tentu saja, saya bertanya kepada Jonan, apakah ini merupakan pertemuan yang menentukan nasib kerja sama bisnis Indonesia-Freeport?

Dia menjawab; Tidak! “Ini adalah kunjungan balasan, setelah Richard Adkerson empat kali menemui saya di Jakarta. Saya rasa, sebagai sebuah sopan santun dalam berbisnis, menemuinya di Houston adalah suatu yang baik.”

Jonan menegaskan, sampai saat ini hingga dia makan malam dan sarapan dengan Richard, posisi negosiasi belum berubah banyak. 

“Ini adalah bagian alur dari sebuah negosiasi. Tentu saja keputusan akhir akan didapatkan setelah kedua pihak sepakat dengan empat isu penting terkait perundingan.”

Keempat isu krusial tersebut adalah kelanjutan operasi, pembangunan fasilitas pemurnian (smelter), divestasi saham, dan ketentuan fiskal.

“Tanpa kedua pihak sepakat dengan empat isu tersebut, maka belum bisa dibilang perundingan ini dinyatakan selesai. Sebenarnya, kembalinya dua pihak ke meja perundingan merupakan langkah maju. Apalagi setelah Richard pada Februari 2017 mengancam akan membawa perselisihan ke peradilan arbitrase internasional yang segera dibalas Jonan dengan perumpamaan Freeport yang dikiranya ‘gajah’ ternyata adalah ‘sapi’, menyangkut kontribusi perusahaan itu terhadap Indonesia.

Namun, suasana panas tersebut perlahan mereda setelah Presiden PT Freeport Indonesia Chappy Hakim mengundurkan diri dan Richard kembali ke negaranya. Freeport lalu mengosongkan posisi Presiden Direktur dan merekrut Tony Wenas sebagai Executive Vice President, mantan karyawan yang sempat berkarier sebagai direktur utama PT International Nickel Indonesia Tbk-kini PT Vale Indonesia Tbk-dan Presiden Direktur PT Riau Andalas Pulp & Paper

Pembawaan Tony yang tenang, barangkali turut membuat suasana sejuk, di samping kemauan dua pihak untuk meredakan suasana kembali kepada prinsip bisnis win-win solutions.

Dalam beberapa kesempatan, eksekutif tersebut mengatakan bahwa perundingan berlangsung positif. Untuk tahu lebih jauh, saya menemui Tony sejak masih di Jakarta. Selasa, di Hotel St Regis, Houston, dia sepakat dengan Jonan bahwa pertemuan ini adalah alur yang benar untuk mencapai kesepakatan negosiasi.

“Jadi memang belum ada kesepakatan final menyangkut empat hal krusial.”

Dia menyatakan pertemuan Freeport dengan pemerintah Indonesia di Amerika Serikat menjadi inovasi lanjutan.

“Dengan demikian kami bisa mencapai tujuan kami dalam hal perpanjangan kontrak sekaligus kepastian investasi secara bersama-sama. Sementara itu, Pemerintah juga bisa memenuhi sejumlah keinginannya.”

Lalu, bagaimana hasil diplomasi makan malam-sarapan antara Jonan-Richard yang dimulai siang ini? Tentu saja sangat mendebarkan. Bisa-bisa, ini mirip syair lagu Gita Cinta dari SMA Shirley Malinton; "kini kucari celah bahagia, di tengah jalan yang penuh duri". 

Bisnis Indonesia, Page-1, Wednesday, July 26, 2017

Pertamina relies more on overseas fields

    

    When the going gets tough, state-owned energy giant Pertamina gets going by maintaining its oil and gas production growth, especially from overseas fields, against the backdrop of falling domestic production. In the first half of the year. Pertamina’s oil and gas production stood at 692,000 barrels of oil equivalent per day (boepd),   8.12 percent increase compared to the same period last year.

During that period. the company produced 3-13,000 barrels of oil per day (bopd), climbing by 12.45 percent annually, and 2,022 million standard cubic feet per day (mmscfd) of gas, up 4.33 percent year-on-year.

“We expect to maintain this upward trend in the second half,” Pertamina spokesperson Adiatma Sardjito said on Tuesday in a statement.

    Pertamina has allocated US$3.44 billion to support its various upstream activities in 2017, throughout which it aims to drill a total of 26 exploration wells and 129 development wells, reactivate 31 wells and undertake maintenance activities at around 5.000 wells. The companys biggest, production growth has come from its oil and gas fields overseas located in different countries and operated by subsidiary Pertamina Internasional EP (PIEP).

In the first six months. Pertamina’s overseas oil and gas production grew almost 30 percent annually to 152,000 boepd, while domestic production only climbed 0.2 percent to 540,000 boepd.

The foreign fields produced 104,000 bopd and 291 mmscfd of gas, increases of 23.8 percent and 47.7 percent, respectively. Pertamina has specifically pinned high hopes on production from France-based oil extraction and production company Maurel & Prom (M&P), which it acquired last year.

M&P is projected to maintain a production rate of at least 30,000 boepd of oil and gas from its assets, in Gabon, Nigeria and Tanzania. Pertamina has also sent a proposal to Iranian government-owned National Iranian Oil Company (NIOC) in February to develop two oil and gas fields in Iran, namely the Ab-Teymour and Mansouri fields.

The two fields are estimated to have 1.5 billion barrels of reserves each and are expected to produce 200,000 bopd each. Pertamina is also in discussion with Russian oil company Rosneft to acquire a 37.5 percent participating interest in the Russkoye field in and 20 percent in the Chayvo field in Russia. In the long run, it aims to boost its oil and gas production to 1.9 million boepd by 2025, 34.2 percent of which will come from its overseas fields. 

Komaidi Notonegoro, the executive director of the Jakarta-based energy think tank ReforMiner Institute, said Pertamina had no other choice but to rely more on its overseas production as a result of declining national production from various depleted fields. Indonesia’s domestic oil production had fallen to 808,800 bopd as of June from 1.2 million bopd in the early 2000s.

The country has been forced to import around 60 percent of its current oil needs of 1.6 million bopd as a result of the lower production. The proven oil reserves had also dropped to 2,959 million stock tank barrels (mmstb) at the end of last year from around 5,000 mmstb in the early 2000s following a lack of new discoveries. Of the reserves, 55.45 percent was already depleted and there was only 3.95 percent that had not been developed.

“Looking at the current condition, it will be hard for Pertamina to rely on the existing depleted fields in the country,” Komaidi said. 

It will need some time to explore and start production at new wells, but even the new wells may not reach their peak production by 2025.  Komaidi said the government’s move to assign Pertamina to take over eight expired oil and gas blocks in the country next year might be another burden as the company would be expected to use the newly launched gross-split sliding scale.

Jakarta Post, Page-15, Wednesday, July 26, 2017