Oil and Gas Production Detection Already Exists at 108 Points

The Ministry of Energy and Mineral Resources (ESDM) stated that the monitoring system of petroleum production through the supply and installation of flow meters is located at 108 points of oil and gas production location in Indonesia. The target itself is 209 points. 

    Director General of Oil and Gas at the Ministry of Energy and Mineral Resources Ego Syahrial said the purpose of installation of flow meters to improve accountability and transparency of oil and gas production.

"Once there are 108 points, 62 are being worked on and about 35 unworked points, so if it is calculated on a percentage basis, the progress is about 83%," Ego said in a release on Wednesday (9/8).

Installation of the flow meter according to Regulation of Minister of Energy and Mineral Resources No. 39 of 2016 About Monitoring System of Realtime Oil-Based Production Online at Production Facilities Upstream Oil and Gas Business Activities. 

     Article 4 The Ministerial Regulation explains the flow meter and its supporting facilities as part of the monitoring system shall be installed at the site after the separation facility. Especially when petroleum is technically can be considered in a single phase condition, terminal lifting (delivery point).

According to Ego, the monitoring system must be connected with information technology system of SKK Migas and Directorate General of Oil and Gas Ministry of ESDM. The purpose of being able to perform realtime online monitoring from the production and lifting of petroleum.

"KKKS Mandajib provides access to the installation, operation and maintenance of monitoring systems," Ego said.

IN INDONESIA

Alat Deteksi Produksi Migas Sudah Ada di 108 Titik

Kementerian Energi dan Sumber Daya Mineral (ESDM) menyatakan, sistem monitoring produksi minyak bumi melalui penyediaan dan pemasangan flow meter sudah berada di 108 titik lokasi produksi migas di Indonesia. Targetnya sendiri sebanyak 209 titik. 

    Dirjen Migas Kementerian ESDM Ego Syahrial bilang, tujuan pemasangan flow meter untuk meningkatkan akuntabilitas dan transparansi terhadap produksi migas. 

"Setelah sudah ada di 108 titik, sedang dikerjakan sebanyak 62 dan sekitar 35 titik yang belum dikerjakan. Jadi jika dihitung secara persentase, progresnya itu sekitar 83%,“ kata Ego, dalam rilis, Rabu (9/8).

Pemasangan flow meter itu sesuai Peraturan Menteri ESDM No 39 Tahun 2016 Tentang Sistem Monitoring Produksi Minyak Bumi Berbasis Online Realtime pada Fasilitas Produksi Kegiatan Usaha Hulu Minyak dan Gas Bumi. 

    Pasal 4 Peraturan Menteri itu menjelaskan flow meter dan fasilitas pendukungnya sebagai bagian sistem monitoring wajib dipasang pada lokasi sesudah fasilitas pemisahan. Terutama saat minyak bumi secara teknis dapat dianggap dalam kondisi fasa tunggal, terminal lifting (titik serah). 

Menurut Ego, sistem monitoring tersebut wajib terhubung dengan sistem teknologi informasi SKK Migas dan Ditjen Migas Kementerian ESDM. Tujuan agar bisa melakukan pemantauan secara online realtime dari sisi produksi dan lifting minyak bumi. 

"KKKS Wajib memberikan akses dalam pemasangan, pengoperasian dan pemeliharaan sistem monitoring," kata Ego.

Kontan, Page-18, Thursday, August 10, 2017

Petronas Manage Empty Fields

Fortunately can not be achieved, unfortunate can not be rejected. That's what happened to Petronas Carigali Muriah Ltd, operator of Kepodang Field, Block Muriah. The location is exactly located off the coast of East Java or 180 km Northeast Semarang. Well, currently Kepodang Field conditions in a state of force majeure (government force majeure).

Field production of Kepodang gas will be exhausted in 2018 or faster than projection. In fact gas from Kepodang Field has just been produced late August 2015 and amounted to 116 million cubic feet per day.

Deputy of Operations of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Fatar Yani mentioned many factors that caused Kepodang Field to be in a state of powers.

"It is not wrong prediction or estimation," said Fatar, Wednesday (9/8).

One of the causes of force majeure is gas volume in Plan of Development (POD) which arranged by old operator, that is BP does not match production obtained by Petronas Carigali. On the other hand. Petronas at that time could not conduct a review for POD, because the pursuit of production target or lifting Kepodang Field.

"Petronas only continued the approved PoD, the project schedule can not be too late" he said.

In addition, there are less obvious seismic interpretation factors in Kepodang Field. However, there is no review because it takes a long time. Kepodang Field is a gas supplier for Tambak Lorok Power Plant owned by PT Perusahaan Listrik Negara (PLN) which supplies electricity in Central Java region.

PLN and Petronas sign gas purchase agreement until 2026 for PLTGU Tambak Lorok. Director of PLN Supangkat Procurement, Iwan Santoso, said PLN is looking for new gas source for Tambak Lorok power plant with 880 MW capacity not disturbed because Kepodang gas will be exhausted.

"Potential other gas sources exist. Such as Gundih Field, "he said.

Kepodang field supplies gas to PLTGU Tambak Lorok of 116 mmscfd. Meanwhile, gas supply from Gundih block operated by PT Pertamina EP Asset 4 is 54 mmscfd.

Country chairman of Petronas Indonesia Mohamad Zaini Md Noor when confirmed related to the matter requested to contact Petronas Corporate Affairs Raesita Salim. Furthermore, Raesita just said Petronas will try to find the best solution and alternative about Kepodang field.

IN INDONESIA

Duh, Petronas Mengelola Lapangan Kosong

Untung tidak dapat diraih, malang tidak dapat ditolak. Itulah yang terjadi pada Petronas Carigali Muriah Ltd, operator Lapangan Kepodang, Blok Muriah. Lokasinya persisnya terletak lepas pantai Jawa Timur atau 180 km Timur Laut Semarang. Nah, saat ini kondisi Lapangan Kepodang dalam kondisi kahar (government force majeure).

Produksi gas Lapangan Kepodang akan habis pada tahun 2018 atau lebih cepat dibandingkan proyeksi. Padahal gas dari Lapangan Kepodang baru saja diproduksi akhir Agustus 2015 lalu sebesar 116 juta kaki kubik per hari.

Deputi Operasi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Fatar Yani menyebutkan banyak faktor yang menyebabkan Lapangan Kepodang dalam kondisi kahar. 

"Bukan salah prediksi atau estimasi saja," ujar Fatar, Rabu (9/8).

Salah satu penyebab terjadinya kahar adalah volume gas dalam Plan of Development (POD) yang disusun operator lama, yaitu BP tidak sesuai produksi yang didapat Petronas Carigali. Di sisi lain. Petronas saat itu tidak bisa melakukan kajian ulang untuk POD, karena mengejar target produksi atau lifting Lapangan Kepodang. 

"Petronas hanya meneruskan PoD yang sudah disetujui, jadwal proyeknya tidak bisa terlambat" kata dia.

Selain itu, ada faktor interpretasi seismik yang kurang jelas di Lapangan Kepodang. Namun tidak dilakukan kajian ulang karena membutuhkan waktu yang lama. Lapangan Kepodang ini menjadi pemasok gas untuk Pembangkit Listrik Tambak Lorok milik PT Perusahaan Listrik Negara (PLN) yang menyuplai listrik di wilayah Jawa Tengah. 

PLN dan Petronas meneken perjanjian jual beli gas hingga tahun 2026 mendatang untuk PLTGU Tambak Lorok. Direktur Pengadaan PLN Supangkat Iwan Santoso mengatakan, PLN sedang mencari sumber gas baru agar pembangkit Tambak Lorok dengan kapasitas 880 MW tidak terganggu karena gas Kepodang akan habis.

“Calon sumber gas lain ada. seperti Lapangan Gundih," kata dia.

Lapangan Kepodang memasok gas ke PLTGU Tambak Lorok sebesar 116 mmscfd. Sementara pasokan gas dari blok Gundih yang dioperasikan oleh PT Pertamina EP Asset 4 ini sebanyak 54 mmscfd.

Country chairman Petronas Indonesia Mohamad Zaini Md Noor saat dikonfirmasi terkait masalah tersebut meminta untuk menghubungi Corporate Affairs Petronas Raesita Salim. Selanjutnya Raesita hanya mengatakan Petronas akan berupaya mencari solusi dan alternatif terbaik perihal lapangan Kepodang.

Kontan, Page-18, Thursday, August 10, 2017

Oil & Gas investment is still not enthusiastic

Although the price of crude oil began to improve this year, the realization of oil and gas investment in the first half of 2017 is only US $ 4.8 billion or 21.62 percent of this year's target of US $ 22.2 billion.

Oil and gas investment during the first half of this year was US $ 4.4 billion consisting of downstream sector of US $ 820 million and upstream of US $ 13.8 billion. The price of crude oil this year is more than US $ 45 per barrel compared to last year at US $ 40 per barrel.

Director General of Oil and Gas Bmni of the Ministry of Energy and Mineral Resources (ESDM) Ego Syahrial said

That oil and gas investment is dominated by the upstream sector. Oil and gas investment trends consist of 80% of the upstream sector and 20% is contributed and he projects that oil and gas investment realization until the end of this year is only US $ 13 billion or 58.56% of the target of US $ 22.2 billion.

Meanwhile, oil and gas investment realization last year was US $ 12.74 billion. One of the downstream investment of oil and gas is gas pipeline network. The construction of city gas network along 59,809 home connections (SR) this year is still running despite the target Is smaller than the previous proposal of 100,000 SR.

In addition, other projects such as the construction of gas transmission pipes of Gresik-Semarang have now finished 60%. Gresik-Semarang gas pipe with a length of 267 km was built by PT Pertamina Gas.

"My estimation is that [oil and gas investment realization] is not far from last year," he said after giving the performance presentation of oil and gas sector in the first semester / 2017, Tuesday (8/8).

He acknowledges that some downstream project assumptions such as the construction of pipes and refineries are supposed to enter The groundbreaking stage actually takes a longer process. Thus, the downstream sector has not been able to contribute significantly to the investment outcome.

He hopes that the refinery development master program (RDMP) and new refinery projects will be up and running soon. Currently, refinery revitalization projects are under way, such as Balikpapan Refinery RDMP, Cilacap Refinery, Dumai Refinery, and Balongan Refinery. Meanwhile, the construction of a new refinery, Bontang Refinery and Tuban Refinery is still under review.

"Downstream sector pipes alongside refineries. Refinery is not not programmed. Both RDMP and grass root, "he said.

For the upstream sector of oil and gas, he hopes that the auction of work areas held this year can be demanded by business actors. The government has received 15 bidding documents that contractors have proposed to nine work areas from 10 work areas offered.

STATE RECEIPTS

He is optimistic that the target of state revenue and oil and gas sector this year can be achieved along with the realization of production projection Ready to sell or lifting oil and gas.

The government is targeting state revenue from oil and gas this year at Rp 105.5 trillion. Meanwhile, the realization of oil and gas revenue in the first half of this year reached Rp 69.4 trillion or 65.78% of the target

"Optimistic [target of oil and gas revenues, hopefully 85% we can this," he said.

On the same occasion, Deputy Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Sukandar said that some oil and gas projects are expected to increase the investment target achievement until the end of this year.

Some of the projects that were relied on were the development of Indonesian Deepwater Development (IDD) from Gendalo and Gehem Field which is currently in the process of preparing the cost of conducting a HE end engineering design (FEED).

In addition, the construction of a liquefied natural gas / LNG Train III refinery project entering the construction phase is expected to contribute to oil and gas investment targets. Other activities that also contribute to the investment, namely the drilling of wells in the Mahakam Block.

Although the trend of tightening investment is still running because oil prices have not recovered, there are several oil and gas projects Can still be realized this year.

"All Contract Cooperation contractors (KKKS) are tightening their belts, but there is still investment."

EMR Deputy Minister of Energy Arcandra Tahar wants oil and gas production to survive despite a slowing trend in investment in the sector. The continued level of oil and gas production, according to him, provides added value even if the invested capital is smaller.

"The investment should not be seen from the figure, but the output is," he said.

Meanwhile, the government is preparing a number of measures to anticipate the auction of oil and gas blocks of lonely demand in recent years as the price of crude oil diminishes. Contractors can not be forced to invest when low crude oil prices.

Earlier, ESDM Minister Ignatius Jonan said that the auction of oil and gas blocks that are quiet enthusiasts in 2016 and the first half of this year is strongly influenced by the low price of oil. It forced the contracting contractors to consolidate to find new ways to conduct more efficient exploration and production activities.

IN INDONESIA

lnvestasi Minyak & Gas Bumi Masih Lesu

Kendati harga minyak mentah mulai membaik pada tahun ini, realisasi investasi minyak dan gas bumi pada semester I/2017 hanya US$ 4,8 miliar atau 21,62% dari target tahun ini US$ 22,2 miliar.

lnvestasi migas selama paruh pertama tahun ini US$ 4,4 miliar itu terdiri atas sektor hilir US$ 820 juta dan hulu US$ 13,8 miliar. Harga minyak mentah pada tahun ini rerata lebih dari US$45 per barel baik dibandingkan dengan tahun lalu sekitar US$ 40 per barel.

Direktur Jenderal Minyak dan Gas Bmni Kementerian Energi dan Sumber Daya Mineral (ESDM] Ego Syahrial mengatakan bahwa investasi migas memang didominasi oleh sektor hulu. Tren investasi minyak dan gas bumi terdiri atas 80% sektor hulu dan 20% disumbang dan dia memproyeksikan, realisasi investasi migas hingga akhir tahun ini hanya US$ 13 miliar atau 58,56% dari target US$ 22,2 miliar. 

Sementara itu, realisasi investasi migas pada tahun lalu US$ 12,74 miliar. Salah satu investasi hilir migas adalah jaringan pipa gas. Proyek pembangunan jaringan gas kota sepanjang 59.809 sambungan rumah (SR) pada tahun ini masih berjalan meskipun target tersebut lebih kecil dari usulan sebelumnya 100.000 SR.

Selain itu, proyek lain seperti pembangunan pipa gas transmisi mas Gresik-Semarang kini telah selesai 60%. Pipa gas Gresik-Semarang dengan panjang 267 km itu dibangun oleh PT Pertamina Gas.

“Perkiraan saya, [realisasi investasi migas] tidak jauh dari tahun lalu,” ujarnya usai memberikan paparan capaian kinerja sektor migas semester I/2017, Selasa (8/8).

Dia mengakui bahwa beberapa asumsi proyek di hilir seperti pembangunan pipa dan kilang yang seharusnya memasuki tahap groundbreaking justru memakan proses lebih panjang. Dengan demikian, sektor hilir belum bisa memberikan kontribusi signifikan terhadap capaian investasi.

Dia berharap agar proyek penambahan kapasitas kilang (refinery development master program/RDMP) dan kilang baru bisa segera berjalan. Saat ini, proyek revitalisasi kilang sedang berjalan, seperti RDMP Kilang Balikpapan, Kilang Cilacap, Kilang Dumai, dan Kilang Balongan. Sementara itu, pembangunan kilang baru, yaitu Kilang Bontang dan Kilang Tuban masih dalam proses kajian.

“Sektor Hilir pipa bersama kilang. Kilang bukannya tidak berprogres. Baik RDMP maupun grass root [kilang baru] ,” katanya.

Untuk sektor hulu migas, dia berharap agar lelang wilayah kerja yang digelar pada tahun ini bisa diminati pelaku usaha. Pemerintah telah menerima 15 dokumen lelang yang telah diajukan kontraktor terhadap sembilan wilayah kerja dari 10 wilayah kerja yang ditawarkan.

PENERIMAAN NEGARA

Dia optimistis, target penerimaan negara dan sektor migas pada tahun ini bisa tercapai seiring dengan terealisasinya proyeksi produksi siap jual atau lifting minyak dan gas bumi.

Pemerintah menargetkan penerimaan negara dari migas pada tahun ini Rp 105,5 triliun. Sementara itu, realisasi penerimaan migas pada paruh pertama tahun ini mencapai Rp 69,4 triliun atau 65,78% dari target

”Optimistis [target penerimaan migas, semoga 85% kita dapat ini,” katanya.

Dalam kesempatan yang sama, Wakil Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Sukandar mengatakan bahwa beberapa proyek migas diharapkan bisa menaikkan capaian target investasi hingga akhir tahun ini.

Beberapa proyek yang diandalkan itu antara lain pengembangan Indonesian Deepwater Development (IDD) dari Lapangan Gendalo dan Gehem yang saat ini masih dalam proses penyusunan biaya untuk melakukan kajian prapendefinisian proyek (hont end engineering design/FEED).

Selain itu, proyek pembangunan kilang gas alam cair/LNG Train III Tangguh yang memasuki tahap konstruksi diharapkan agar berkontribusi terhadap target investasi migas. Kegiatan lain yang juga berkontribusi terhadap investasi, yakni pengeboran sumur di Blok Mahakam.

Meskipun tren pengetatan investasi masih berjalan karena harga minyak belum pulih, ada beberapa proyek migas yang masih bisa direalisasikan pada tahun ini.

“Semua kontraktor kontrak Kerja Sama (KKKS) mengetatkan ikat pinggang, tetapi tetap ada investasi."

Wakil Menteri ESDM Arcandra Tahar menginginkan agar produksi migas bisa tetap bertahan meskipun ada tren perlambatan penanaman modal di sektor tersebut. Tetap bertahannya tingkat produksi migas, menurutnya, memberikan nilai tambah meskipun modal yang ditanamkan lebih kecil. 

"Investasi itu jangan dilihat dari angkanya, tetapi output-nya,” katanya.

Sementara itu, pemerintah sedang menyiapkan sejumlah langkah guna mengantisipasi lelang blok minyak dan gas bumi yang sepi peminat dalam beberapa tahun terakhir seiring dengan meredupnya harga minyak mentah. Para kontraktor tidak bisa dipaksa untuk berinvestasi di saat rendahnya harga minyak mentah.

Sebelumnya, Menteri ESDM Ignasius Jonan mengatakan bahwa Ielang blok migas yang sepi peminat pada 2016 dan pertengahan pertama tahun ini sangat dipengaruhi oleh rendahnya harga minyak. Hal itu memaksa kontraktor kontrak kerja sama melakukan konsolidasi hingga menemukan cara baru melakukan kegiatan eksplorasi dan produksi yang lebih efisien. 

Bisnis Indonesia, Page-34, Wednesday, August 9, 2017

Pertamina, PLN sign deal on gas Field

Pertamina EP Cepu (PEPC), a subsidiary of state-owned gas and oil company Pertamina, has struck a deal with state electricity firm PLN regarding the gas price generated from the former’s future gas field Jambaran Tiung-Biru (JTB) in Cepu, Central Java, after months of deadlock over the subject.

The deal was reached after Pertamina agreed to lower the future JTB gas price to a flat rate of US$7.6 mmbtu for a 30-year-long gas supply from the previous figure of around $9 mmbtu. 

     Representing their respective companies, Pertamina gas director Yenny Andayani and PLN procurement director Supangkat Iwan Santoso signed a preliminary agreement over the gas price, witnessed by Energy and Mineral Resources deputy minister Arcandra Tahar in jakarta on Tuesday.

”Jambaran Tiung-Biru is one of the government’s strategic projects,” said Arcandra.

"The initial proposal in 2015 estimated the project would cost $2.05 billion, but it was finally lowered to $1.8 billion so the gas price would be affordable for PLN.”

The economic consideration also led PEPC to acquire 45 percent of the project's shares, which were previously owned by ExxonMobil, who partnered with PEPC on the project.

The future gas field is planned to power electricity plants in Gresik, East Java, with an estimated production capacity of 170 mmscfd over the next 16 years and 330 mmscfd in total. 

Jakarta Post, Page-18, Wednesday, August 9, 2017

Gas Gresik Sale Price US $ 7

PT Pertamina and Perusahaan Listrik Negara (PLN) finally agreed on the selling price of Tiung Biru (JTB) gas field of US $ 7, G per mmbtu, flat during the contract. The project with an investment value of US $ 1.55 billion will begin soon.

This was conveyed by Vice Minister of Energy and Mineral Resources of Arcandra Tahar in Jakarta on Tuesday at the signing of head of agreement (HoA) gas supply of JTB gas field for PLN Gresik Region and Evaluation of first semester performance in oil and gas sector.

"In 2017 marathon we are well guarded for JTB project can be executed immediately," said Arcandra

Arcandra revealed several other important decisions have also been successfully agreed upon. Among other things, JTB gas relocation to Pertamina, JTB gas price determination to PLN Gresik Region, split change of profit sharing contract of Pertamina EP Cepu JTB project, and transfer of field from Exxon by Pertamina EP Cepu.

In addition, the important decision of this HOA is to transfer the field from Exxon Cepu by Pertamina EP Cepu so that Pertamina controls 90% of participating interest and the remaining 10% will be controlled by the region.

Then there is the efficiency of Capital Expenditure (capex) or investment cost from US $ 2.1 billion to US $ 1.5 billion so that the state oil and gas contractor's revenue becomes better.

"This is a great achievement," said Arcandra.

The JTB field with approximately investment will produce 330 mmscfd of gas with sales of 172 mmscfd for 16 years (plateu). Of the 172 mmscfd utilization of the gas, 100 mmscfd will be distributed to PLN Gresik Region at a price of US $ 7.6 per mmbtu flat during the contract period, and 72 mmscfd for industries in Central Java and East Java.

Gas from JTB field will be connected with Gresik-Semarang pipeline along 267 km with diameter 28 inch. Pipe Gresik-Semarang with an investment of approximately US $ 515 million is planned to be completed by 2018.

IN INDONESIA

Harga Jual Gas Gresik US$ 7

PT Pertamina dan Perusahaan Listrik Negara (PLN) akhirnya menyepakati harga jual gas bumi lapangan Jambaran Tiung Biru (JTB) sebesar US$7,G per mmbtu, flat selama kontrak. Proyek dengan nilai investasi sebesar US$ 1,55 miliar itu pun akan segera dimulai.

Hal tersebut disampaikan Wakil Menteri Energi dan Sumber Daya Mineral Arcandra Tahar di Jakarta, Selasa, pada acara penandatanganan head of agreement (HoA) pasokan gas bumi lapangan gas JTB untuk PLN Wilayah Gresik dan Evaluasi kinerja semester I bidang migas.

“Tahun 2017 ini secara maraton kita kawal dengan baik agar proyek JTB bisa segera dieksekusi," ujar Arcandra

Arcandra mengungkapkan beberapa keputusan penting yang lain juga telah berhasil disepakati. Antara lain, relokasi gas JTB ke Pertamina, penetapan harga gas JTB ke PLN Wilayah Gresik, perubahan split kontrak bagi hasil Pertamina EP Cepu proyek JTB, dan alih kelola lapangan dari Exxon oleh Pertamina EP Cepu.

Selain itu, keputusan penting dari HOA ini adalah alih kelola lapangan dari Exxon Cepu oleh Pertamina EP Cepu sehingga Pertamina menguasai 90% participating interest dan 10% selebihnya akan dikuasai daerah.

Lalu adanya efisiensi Capital Expenditure (capex) atau biaya investasi dari US$ 2,1 miliar menjadi US$ 1,5 miliar sehingga penerimaan migas bagian negara dan kontraktor menjadi lebih baik. 

“ini capaian besar," tegas Arcandra.

Lapangan JTB dengan investasi sekitar akan memproduksikan gas sebesar 330 mmscfd dengan penjualan sebesar 172 mmscfd selama 16 tahun (plateu). Dari 172 mmscfd pemanfaatan gas tersebut, 100 mmscfd akan disalurkan ke PLN Wilayah Gresik dengan harga US$7,6 per mmbtu flat selama masa kontrak, dan 72 mmscfd untuk industri di Jawa Tengah dan Jawa Timur.

Gas dari lapangan JTB akan terkoneksi dengan pipa Gresik-Semarang sepanjang 267 km dengan diameter 28 inci. Pipa Gresik-Semarang dengan investasi sekitar US$ 515 juta direncanakan selesai pada 2018.

Media Indonesia, Page-18, Wednesday, August 9, 2017

Pertamina Ensures Acquisition of ExxonMobil Shares in Jambaran

PT Pertamina and ExxonMobil have agreed the price of Jambaran Field participation rights at 41.4%. This year, Pertamina will complete the acquisition of ExxonMobil's shares in the field which is part of the Cepu Block.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said that the Jambaran-Tiung Field Project can be continued thanks to the cooperation of ExxonMobil as the holder of participation rights in Jambaran. Because the economy of this project does not match their calculations, the US oil and gas company is willing to release its participating rights in Jambaran Field to Pertamina.

"To share ExxonMobil, there is already a price agreement. ExxonMobil sees this Project Jambaran-Tiung Biru national project and wants to help, therefore it wants b to b (business to business) with Pertamina, "he said.

According to Arcandra, ExxonMobil did not participate in the project because the agreed amount of costs did not match the calculations. In the plan of development (POD), the investment value of the Jambaran-Tiung Biru Project reaches US $ 2.1 billion. However, the government together with Pertamina then agreed to streamline the cost to become only US $ 1.8 billion.

"Then Pertamina wants to do another efficiency around US $ 250 million, so the capex / capital investment to US $ 1.54 billion," he said.

Upstream Director of Pertamina Syamsu Alam said, it has not agreed on a single figure with ExxonMobil. However, in the last discussion, has obtained a price range that can be accepted by both parties. It aims to acquire rights

This participation can be signed in the near future.

"The Jambaran-Tiung Biru project must be completed by 2020. So the project should start later this year. So to get started, all agreements must be completed before starting, "he said.

Arcandra added that to assist Pertamina in completing the Jambaran-Tiung Biru Project, the government raised the company's split on the project. Initially, Pertamina's revenue share of 40% and state 60%, then changed to Pertamina 55% and 45% state.

"For the upstream sector, the government decided because here CO2 is high enough, the economy is short, then the revenue share is raised," he said.

The Jambaran-Tiung Biru project itself is the unitization of two fields of different blocks. The Jambaran field is included in the work area of ​​the Cepu Block where Pertamina and ExxonMobil both have the right of participation. Meanwhile, Tiung Biru Field entered PT Pertamina EP area in Jambaran Field, Pertamina and Exxon-Mobil's participation rights at 41.4%. Other shareholders are BUMD 9.2% and PT Pertamina EP 8%.

Immediately PJBG

After the agreement between Pertamina and ExxonMobil, Arcandra said the gas price for the Jambaran-Tiung Biru Project can also be agreed. With investment costs reduced, gas prices can be derived from initially around US $ 9 per mmbtu with a 2% per year escalation to US $ 7.6 per mmbtu in the plant gate over a 30 year contract period.

According to him, the gas price of US $ 8-9 per mmbtu is exceeded high for PT PLN because it will raise the Cost of Production (bpp) of electricity. While the gas price of US $ 7.6 per mmbtu will not affect the change of bpp, so PLN will buy at this price.

"PJBG (Gas Sales and Purchase Agreement) at least one month. But this HoA already has the signature of Minister Ignatius Jonan, so it does not change again, "he said.

PLN will take the gas from this project for 100 million standard cubic per day / mmscfd. Director of Gas Pertamina Yenny Andayani added, it cuts various costs for gas prices can be affordable PLN. The gas price of US $ 7.6 per mmbtu includes the price of upstream gas of US $ 6.7 per mmbtu and the toll fee of US $ 0.9 per mmbtu.

"We strive for unnecessary costs to get the market's acceptable price," he said.

In addition to PLN, the remaining gas from Jambaran-Tiung Biru 72 mmscfd will be channeled to industries in Central Java and East Java.

IN INDONESIA

Pertamina Pastikan Akuisisi Saham ExxonMobil di Jambaran

PT Pertamina dan ExxonMobil telah menyepakati harga hak partisipasi Lapangan Jambaran sebesar 41,4%. Tahun ini juga, Pertamina akan merampungkan akuisisi saham ExxonMobil di lapangan yang merupakan bagian dari Blok Cepu tersebut.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, pengerjaan Lapangan Jambaran-Tiung dapat dilanjutkan berkat kerja sama ExxonMobil selaku pemegang hak partisipasi di Jambaran. Karena keekonomian proyek ini tidak cocok dengan hitungan mereka, perusahaan migas asal Amerika Serikat ini bersedia melepas hak partisipasinya di Lapangan Jambaran ke Pertamina.

“Untuk share ExxonMobil, sudah ada kesepakatan harga. ExxonMobil melihat ini Proyek Jambaran-Tiung Biru proyek nasional dan mau membantu, oleh karena itu mau b to b (business to business) dengan Pertamina,” kata dia.

Menurut Arcandra, ExxonMobil tidak ikut melanjutkan pengerjaan proyek ini karena besaran biaya yang disepakati tidak sesuai hitungannya. Dalam rencana pengembangan (plan of development/ POD), nilai investasi Proyek Jambaran-Tiung Biru mencapai US$ 2,1 miliar. Namun, pemerintah bersama Pertamina kemudian sepakat mengefisienkan biaya hingga menjadi hanya US$ 1,8 miliar.

“Kemudian Pertamina mau melakukan efisiensi lagi sekitar US$ 250 juta, sehingga capex/modal investasi menjadi US$ 1,54 miliar," katanya.

Direktur Hulu Pertamina Syamsu Alam menuturkan, pihaknya belum menyepakati satu angka pasti dengan ExxonMobil. Namun, dalam diskusi terakhir, sudah diperoleh kisaran harga yang dapat diterima kedua pihak. Pihaknya menargetkan akuisisi hak partisipasi ini dapat diteken dalam waktu dekat.

“Proyek Jambaran-Tiung Biru harus selesai pada 2020. Jadi proyek harus dimulai akhir tahun ini. Sehingga untuk bisa dimulai, semua kesepakatan harus selesai sebelumnya mulai," ujarnya. 

Arcandra menambahkan, untuk membantu Pertamina dalam merampungkan Proyek Jambaran-Tiung Biru, pemerintah menaikkan jatah bagi hasil (split) perseroan di proyek tersebut. Awalnya bagi hasil Pertamina yakni sebesar 40% dan negara 60%, kemudian diubah menjadi Pertamina 55% dan negara 45%.

“Untuk sektor hulu, pemerintah memutuskan karena disini CO2 cukup tinggi, keekonomiannya mepet, maka bagi hasilnya dinaikkan,” katanya.

Proyek Jambaran-Tiung Biru sendiri merupakan unitisasi dari dua lapangan dari blok yang berbeda. Lapangan Jambaran masuk dalam wilayah kerja Blok Cepu di mana Pertamina dan ExxonMobil sama-sama memiliki hak partisipasi. Sementara Lapangan Tiung Biru masuk area PT Pertamina EP Khusus di Lapangan Jambaran, hak partisipasi Pertamina dan Exxon-Mobil masing-masing yakni sebesar 41,4%. Sementara pemegang saham partisipasi lain yaitu BUMD 9,2% dan PT Pertamina EP 8%.

Segera PJBG

Setelah adanya kesepakatan antara Pertamina dan ExxonMobil, Arcandra menuturkan harga gas untuk Proyek Jambaran-Tiung Biru juga dapat disepakati. Dengan biaya investasi bisa ditekan, maka harga gas dapat diturunkan dari awalnya sekitar US$ 9 per mmbtu dengan eskalasi 2% per tahun menjadi US$ 7,6 per mmbtu di plant gate sepanjang masa kontrak selama 30 tahun.

Menurutnya, harga gas US$ 8-9 per mmbtu terlampaui tinggi bagi PT PLN karena akan menaikkan Biaya Pokok Produksi (bpp) listrik. Sementara harga gas US$ 7,6 per mmbtu tidak akan berdampak pada perubahan bpp, sehingga PLN mau membeli pada harga ini.

“PJBG (Perjanjian Jual Beli Gas) paling telat satu bulan. Tetapi HoA ini sudah ada tanda tangan Menteri Ignasius Jonan, jadi tidak berubah lagi,” ujarnya. 

PLN akan mengambil gas dari proyek ini sebesar 100 million standard cubic per day/ mmscfd. Direktur Gas Pertamina Yenny Andayani menambahkan, pihaknya melakukan pemotongan berbagai biaya agar harga gas dapat terjangkau PLN. Harga gas US$ 7,6 per mmbtu ini dirincinya terdiri dari harga gas hulu US$ 6,7 per mmbtu dan ongkos angkut (toll fee) USS 0,9 per mmbtu.

“Kami berusaha cost-cost yang tidak perlu ditiadakan untuk dapatkan harga yang bisa diterima pasar,” 

Selain ke PLN, sisa gas dari Jambaran-Tiung Biru 72 mmscfd akan dialirkan ke industri di Jawa Tengah dan Jawa Timur.

Investor Daily, Page-9, Wednesday, August 9, 2017

Realization of New Oil and Gas Investment Achieved 21.62%

The Ministry of Energy and Mineral Resources (ESDM) recorded the realization of oil and gas (oil and gas) investment until the end Last June only reached US $ 4.8 billion or 21.62% of the target of US $ 22.2 billion. This low investment occurs both in the upstream sector and downstream of oil and gas.

According to data from the Ministry of Energy and Mineral Resources, the US $ 4.8 billion investment comprises US $ 3.98 billion from upstream oil and gas and US $ 820 million from downstream oil and gas, lower than last year's US $ 5.7 billion , Ie as much as US $ 5.51 billion from upstream oil and gas and US $ 188 million from downstream oil and gas.

Director General of Oil and Gas ESDM Ministry Ego Syahrial admitted that the target of oil and gas investment of US $ 22.2 billion will not be achieved by the end of this year. The target is set when the condition of world oil prices has not been as low as now and the government is still optimistic some oil and gas projects can run smoothly this year.

"The estimate of oil and gas investment realization will not be much different from last year, which is US $ 12-13 billion," he said in Jakarta, Tuesday (8/8).

He said the low realization of oil and gas investment is the impact of global conditions, mainly oil prices. The impact of the decline in oil prices is felt not only in the upstream oil and gas sector, but also downstream oil and gas, On the downstream side of oil and gas, the progress of the projects has not been too good.

Although, the contribution of downstream investment in oil and gas is quite small, which is only about 20%. "The downstream sector is also affected by oil prices, including for pipeline construction," he said.

Downstream oil and gas investment, according to Ego, dominated the construction of gas pipelines and refineries. From the data of the Ministry of Energy and Mineral Resources, the realization of gas pipeline until the first semester and then only 10,425 kilometers (km) from the target of 12 thousand km. Currently, several pipeline projects are still in progress.

According to data from the Downstream Oil and Gas Regulatory Agency (BPH Migas), there are five gas pipeline projects under construction. The details are 266.26 km Gresik-Semarang transmission line, 176 km Grissik-Pusri Pipe, 67-km Duri-Dumai Pipeline and 55 Km of PK 52-Tanjung Batu Pipeline. For refinery capacity, until now there is no additional capacity alias still 1.1 million barrels per day (Bph).

But all refinery projects are still running, both capacity building and new refinery projects. Only, he admitted the negotiation process of this project is quite long.

"There are some that are late, but still within within the time frame that runs," he said.

New refinery progress will be visible in the next two to three years. No half-hearted, six refinery projects are being worked out at once. In detail, the construction of two new units in Tuban-East Java and Bontang-East Kalimantan and the repair of four existing refineries in Balongan-West Java; Balikpapan-East Kalimantan; Dumai-Riau; And Cilacap-Central Java.

The amount of fund needed is huge, the addition of Balongan Refinery capacity requires US $ 1.27 billion, Balikpapan Refinery US $ 5.3 billion, Cilacap Refinery US $ 4.5 billion, Tuban Refinery about US $ 13 billion, and Bontang Refinery about US $ 8 Billion.

In the upstream sector, Deputy Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Sukandar said that the collapse of oil price is very impact on upstream oil and gas investment.

"The price of this oil makes exploration spending a bit. From the realization of upstream investment, many are from exploitation, "he said.

According to data from SKK Migas, upstream oil and gas investment this year is targeted to reach US $ 13.8 billion. However, the realization of investment until the end of June only amounted to US $ 3.98 billion or 28% of the target. This is reflected from the data of survey and drilling activities held by SKK Migas.

Until last June, a new 2D seismic survey activity of 3,432 kilometers (km) or 12% of the target of 10,248 km, 3D seismic survey of 330 square kilometers or 13% of the target of 6,566 square kilometers, exploration drilling 29 wells of 138 well targets, well development drilling 74 wells from target 223 wells, and realization of new well work work of 351 activities from target of 907 activities.

Results Efficiency

Deputy Minister of Energy and Mineral Resources Arcandra Tahar said the low realization of investment does not mean the national oil and gas investment climate is deteriorating. The impact of lower oil prices in low numbers, companies engaged in the oil and gas sector tighten the issued capital. The low investment also called not only has bad impact. For example, despite low investment, oil and gas production does not go down.

"There are several capex / capital expenditures that are lowered. So do not see the amount of investment realization alone, but also the results, he stressed.

In the second semester, continued Ego, it will continue to pursue the target of oil and gas investment. In the downstream sector of oil and gas, it will encourage the remaining work of the pipeline construction target of 1,500 km. In the upstream sector of oil and gas, investment will still rise as large projects such as Tangguh Train-3 and Jambaran-Tiung Biru continue to run.

"This construction is like the S curve, so at the end of the year the investment is high," he said.

IN INDONESIA

Realisasi lnvestasi Migas Baru Tercapai 21,62%

Kementerian Energi dan Sumber Daya Mineral (ESDM) mencatat realisasi investasi minyak dan gas bumi (migas) sampai akhir Juni lalu hanya tercapai US$ 4,8 miliar atau 21,62% dari target US$ 22,2 miliar. Rendahnya investasi ini terjadi baik di sektor hulu maupun hilir migas.

Menurut data Kementerian ESDM, investasi US$ 4,8 miliar ini terdiri US$ 3,98 miliar dari hulu migas dan US$ 820 juta dari hilir migas, Angka ini lebih rendah dari realisasi periode yang sama tahun lalu sebesar US$ 5,7 miliar, yakni sebanyak US$ 5,51 miliar dari hulu migas dan US$ 188 juta dari hilir migas.

Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Ego Syahrial mengakui, target investasi migas sebesar US$ 22,2 miliar tidak akan tercapai pada akhir tahun ini. Target itu ditetapkan ketika kondisi harga minyak dunia belum serendah saat ini dan pemerintah masih optimistis beberapa proyek migas dapat berjalan lancar pada tahun ini.

“Perkiraan realisasi investasi migas tidak akan jauh berbeda dari tahun lalu, yaitu US$ 12-13 miliar,” kata dia di Jakarta, Selasa (8/8).

Dikatakannya, rendahnya realisasi investasi migas ini sebagai dampak kondisi global, utamanya harga minyak. Dampak dari turunnya harga minyak ini dirasakan tidak hanya di sektor hulu migas, tetapi juga hilir migas, Di sisi hilir migas, progres proyek-proyek belum terlalu bagus.

Walaupun, sumbangan investasi sektor hilir migas memang cukup kecil, yakni hanya sekitar 20%. “ Sektor hilir terdampak juga oleh harga minyak, termasuk untuk pembangunan pipa,” tuturnya.

Investasi hilir migas, menurut Ego, didominasi pembangunan pipa gas dan kilang minyak. Dari data Kementerian ESDM, realisasi pipa gas sampai semester satu lalu hanya sepanjang 10.425 kilometer (km) dari target 12 ribu km. Saat ini, beberapa proyek pipa masih berjalan pengerjaannya.

Menurut data Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas) terdapat lima proyek pipa gas yang kini sedang dibangun. Rincinya, pipa transmisi Gresik-Semarang sepanjang 266,26 km, Pipa Grissik-Pusri sepanjang 176 km, Pipa Duri-Dumai sepanjang 67 km, serta Pipa PK 52-Tanjung Batu sepanjang 55 Km. Untuk kapsitas kilang, sampai saat ini belum ada penambahan kapasitas alias masih 1,1 juta barel per hari (Bph).

Tetapi seluruh proyek kilang tetap berjalan, baik proyek penambahan kapasitas maupun pembangunan kilang baru. Hanya saja, diakuinya proses negosiasi proyek ini cukup panjang. 

“Ada beberapa yang terlambat, tetapi masih dalam within frame time yang berjalan,” ujarnya. 

Progres kilang baru akan terlihat dalam dua hingga tiga tahun mendatang. Tidak tanggung-tanggung, enam proyek kilang sedang digarap sekaligus. Rincinya, pembangunan dua unit baru di Tuban-Jawa Timur dan Bontang-Kalimantan Timur serta perbaikan empat kilang eksisting yang tersebar di Balongan-Jawa Barat; Balikpapan-Kalimantan Timur; Dumai-Riau; serta Cilacap-Jawa Tengah. 

Dana yang dibutuhkan sangat besar, penambahan kapasitas Kilang Balongan membutuhkan dana US$ 1,27 miliar, Kilang Balikpapan US$ 5,3 miliar, Kilang Cilacap US$ 4,5 miliar, Kilang Tuban sekitar US$ 13 miliar, dan Kilang Bontang sekitar US$ 8 miliar.

Di sektor hulu, Wakil Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Sukandar menuturkan, jatuhnya harga minyak sangat berdampak pada investasi hulu migas.

“Harga minyak ini membuat spending eksplorasi sedikit. Dari realisasi investasi hulu, banyak yang dari eksploitasi,” kata dia.

Menurut data SKK Migas, investasi hulu migas pada tahun ini ditargetkan mencapai US$ 13,8 miliar. Namun, realisasi investasi hingga akhir Juni lalu hanya sebesar US$ 3,98 miliar atau 28% dari target. Hal ini tergambar dari data pelaksanaan kegiatan survei dan pengeboran yang dimiliki SKK Migas. 

Sampai Juni lalu, kegiatan survei seismic 2D baru sepanjang 3.432 kilometer (km) atau 12% dari target 10.248 km, survei seismic 3D 330 kilometer persegi atau 13% dari target 6.566 kilometer persegi, pengeboran eksplorasi 29 sumur dari target 138 sumur, pengeboran sumur pengembangan 74 sumur dari target 223 sumur, dan realisasi kegiatan kerja ulang (workover) sumur baru 351 kegiatan dari target 907 kegiatan.

Hasil Efisiensi

Wakil Menteri ESDM Arcandra Tahar menuturkan, rendahnya realisasi investasi tidak berarti iklim investasi migas nasional yang memburuk. Dampak dari harga minyak yang bertahan di angka rendah, perusahaan-perusahaan yang bergerak di sektor migas mengencangkan modal yang dikeluarkan. Rendahnya investasi juga disebutnya tidak melulu berdampak buruk. Contohnya, meski investasi rendah, produksi migas tidak turun.

“Ada beberapa capex /belanja modal yang diturunkan. Jadi jangan dilihat besarnya realisasi investasi saja, tetapi juga hasilnya, tegas dia.

Pada semester kedua ini, lanjut Ego, pihaknya akan terus mengejar target investasi migas. Di sektor hilir migas, pihaknya akan mendorong pengerjaan sisa dari target pembangunan pipa sepanjang 1.500 km. Di sektor hulu migas, investasi masih akan naik karena proyek besar seperti Kilang Tangguh Train-3 dan Jambaran-Tiung Biru terus berjalan. 

“Konstruksi ini seperti kurva S, jadi di akhir tahun investasi yang dikeluarkan tinggi,” tuturnya.

Investor Daily, Page-9, Wednesday, August 9, 2017