PEPC Wait for Incentive 5%

PT Pertamina EP Cepu is still waiting for the addition of profit sharing or split in the development contract of Tiung Biru Jambaran Gas Field, Cepu Block to pray in accordance with economies scale.

President Director of PT Pertamina EP Cepu (PEPC) Adriansyah said that it has proposed additional revenue sharing contractors to the government. The current profit sharing scheme in the gas field located in Bojonegoro, East Java is 60%: 40% (60% government and 40% contractors).

The subsidiary of PT Pertamina proposed an additional 5% profit sharing resulting in 55%: 45% composition. However, until the agreement (head of agreement / HoA) of Pertamina with PT Perusahaan Listrik Negara (PLN) was signed related to the gas distribution, the contractor has not received an official response from the government.

Pertamina EP Cepu (PEPC) requested additional revenue sharing as the gas price from Jambaran-Tiung Biru was reduced to US $ 6.7 per MMBtu from the initial projection of US $ 9 per MMBtu. The gas price from Jambaran-Tiung Biru is set at US $ 6.7 per MMBtu when the project has started producing its first gas by 2020.

Meanwhile, the selling price of gas from Jambaran-Tiung Biru to PLN was agreed at US $ 7.6 per MMBtu which includes the cost of delivering gas through pipes of US $ 0.9 per MMBtu. The decline in gas selling price was also due to the decline in capital expenditure of the gas field project from US $ 2.1 billion to US $ 1.5 billion.

"There has been no formal approval for incentives," he said

The Jambaran-Tiung Biru Gas Field is a merger of two fields from two different work areas. Jambaran Field is part of the work area of ​​Cepu and Tiung Biru Iapangan which is part of Pertamina EP work area.

ExxonMobil Cepu Ltd. Decided to resign as a partner of Jambaran-Tiung Biru because the US oil and gas company assessed the project did not meet the economies of scale. However, Adriansyah said that other partners, namely BUMD still committed to continue the partnership in the project.

In Cepu Block, ExxonMobil Cepu Limited (EMCL) becomes operator and controls 20.5% shareholding shares, Ampolex 24.5%, Pertamina EP Cepu 45% and some BUMDs with 10% participation shares.

Meanwhile, PT Pertamina EP Cepu, operator of the Jambaran-Tiung Biru Gas Field, holds 41, 4% and EMCL 41, 4%, BUMD 9.2% and the remaining 8% is owned by Pertamina EP.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the government has granted the proposed addition of a split contractor to develop the Field Jambaran-Tiung Biru. Arcandra who is also a Pertamina commissioner said the consideration of the additional revenue sharing because the field contains high carbon dioxide (CO2) and economics that are less attractive without the incentives.

"For the upstream sector the government has decided because here there CO2 is quite high, the economy is also very little then Which used to be 60:40 to 55:45, "he said.

DIVESTMENT

The government commissioned Pertamina through PT Pertamina EP Cepu with the issuance of Letter of the Minister of Energy and Mineral Resources. 9/13 / MEM.M / 2017 in January 2017 to develop the Jambaran-Tiung Biru Field and complete the discussion with ExxonMobil through a business scheme.

"Meanwhile, BUMD still participate for the development of JTB Project [Jambaran-Tiung Biru]. I can confirm that they will continue to participate. "

Upstream Director of Pertamina Syamsu Alam said that the process of negotiating the release of ExxonMobil shares from the Jambaran-Tiung Biru project is still ongoing.

When the negotiation is over, Pertamian EP Cepu will control 82.8% share participation. Syamsu targets the deal to be reached this year as the project is targeted to produce its first gas by the end of 2020 or early 2021. He hopes that the entry of Jambaran-Tiung Biru in the list of new priority projects has a positive impact on the development and acceleration of time.

"Not a deal yet. However, the price will soon be met. "

Vice President of Public and Government Affairs of ExxonMobil Indonesia Erwin Maryoto said that until now the two parties are still negotiating share transfer value of participation of Jambaran-Tiung Biru.

The Jambaran-Tiung Biru field is planned to produce 330 million cubic feet of gas per day (MMscfd) with gas that can be channeled to 172 MMscfd.

IN INDONESIA

PEPC Tunggu Insentif 5%

PT Pertamina EP Cepu masih menunggu penambahan bagi hasil atau split dalam kontrak pengembangan Lapangan Gas Jambaran Tiung Biru, Blok Cepu agar prayek sesuai dengan skala keekonomian.

Direktur Utama PT Pertamina EP Cepu (PEPC) Adriansyah mengatakan bahwa pihaknya telah mengusulkan penambahan bagi hasil kontraktor kepada pemerintah. Skema bagi hasil yang berlaku saat ini di lapangan gas yang berlokasi di Bojonegoro, Jawa Timur itu sebesar 60%:40% (60% pemerintah dan kontraktor 40%).

Anak usaha PT Pertamina itu mengusulkan tambahan bagi hasil 5% sehingga komposisinya menjadi 55% :45%. Namun, hingga kesepakatan (head of agreement/HoA) Pertamina dengan PT Perusahaan Listrik Negara (PLN) diteken terkait penyaluran gasnya kontraktor belum mendapat respons resmi dari pemerintah.

Pertamina EP Cepu (PEPC) meminta tambahan bagi hasil karena harga gas dari Jambaran-Tiung Biru diturunkan menjadi US$ 6,7 per MMBtu dari proyeksi awal US$ 9 per MMBtu. Harga gas dari Jambaran-Tiung Biru ditetapkan US$ 6,7 per MMBtu ketika proyek sudah mulai menghasilkan gas pertamanya pada 2020. 

Sementara itu, harga jual gas dari Jambaran-Tiung Biru ke PLN disepakati US$ 7,6 per MMBtu yang sudah termasuk biaya penghantaran gas melalui pipa sebesar US$ 0,9 per MMBtu. Penurunan harga jual gas pun dikarenakan penurunan asumsi belanja modal proyek lapangan gas itu dari US$ 2,1 miliar menjadi US$ 1,5 miliar. 

“Belum ada persetujuan resmi untuk insentif," ujarnya 

Lapangan Gas Jambaran-Tiung Biru merupakan penggabungan dua lapangan dari dua wilayah kerja berbeda. Lapangan Jambaran merupakan bagian dari wilayah kerja Cepu dan Iapangan Tiung Biru yang menjadi bagian dari wilayah kerja Pertamina EP.

ExxonMobil Cepu Ltd. memutuskan untuk mengundurkan diri sebagai mitra dari Jambaran-Tiung Biru karena perusahaan migas asal AS itu menilai proyek tersebut tidak memenuhi skala ekonomi. Namun, Adriansyah menyebut bahwa mitra lainnya, yakni BUMD masih berkomitmen melanjutkan kemitraan dalam proyek tersebut.

Pada Blok Cepu, ExxonMobil Cepu Limited (EMCL) menjadi operator dan menguasai saham partisipasi 20,5%, Ampolex 24,5%, Pertamina EP Cepu 45% dan beberapa BUMD dengan saham partisipasi 10%.

Sementara itu, PT Pertamina EP Cepu yang menjadi operator Lapangan Gas Jambaran-Tiung Biru memegang saham 41 ,4% dan EMCL 41 ,4% , BUMD 9,2% dan sisanya sebanyak 8% dikuasai oleh Pertamina EP.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, pemerintah telah mengabulkan usulan penambahan split kontraktor untuk mengembangan Lapangan Jambaran-Tiung Biru. Arcandra yang juga sebagai komisaris Pertamina mengatakan, pertimbangan penambahan bagi hasil itu karena lapangan tersebut mengandung karbondioksida (CO2) yang cukup tinggi dan keekonomian yang kurang menarik tanpa adanya insentif itu.

“Untuk sektor hulunya pemerintah sudah memutuskan karena di sini ada CO2 cukup tinggi, keekonomiannya juga sangat sedikit maka yang dulunya 60:40 menjadi 55:45,” katanya.

PELEPASAN SAHAM

Pemerintah menugaskan Pertamina melalui PT Pertamina EP Cepu dengan terbitnya Surat Menteri ESDM No. 9/13/ MEM.M/2017 pada Januari 2017 untuk mengembangkan Lapangan Jambaran-Tiung Biru dan menyelesaikan pembahasan dengan ExxonMobil melalui skema bisnis.

“Sementara ini BUMD masih tetap ikut untuk pengembangan Proyek JTB [Jambaran-Tiung Biru]. Saya sudah dapat konfirmasi bahwa mereka akan tetap lanjut berpartisipasi.”

Direktur Hulu Pertamina Syamsu Alam mengatakan, saat ini proses negosiasi pelepasan saham ExxonMobil dari proyek Jambaran-Tiung Biru masih berlangsung.

Bila negosiasi selesai, Pertamian EP Cepu akan menguasai saham partisipasi 82,8%. Syamsu menargetkan, kesepakatan itu dapat tercapai pada tahun ini karena proyek ditargetkan menghasilkan gas pertamanya pada akhir 2020 atau awal 2021. Dia berharap agar dengan masuknya Jambaran-Tiung Biru dalam daftar proyek prioritas baru membawa dampak positif terhadap pengembangan dan akselerasi waktu. 

“Belum deal. Namun, harganya sebentar lagi ketemu."

Vice President Public and Government Affairs ExxonMobil Indonesia Erwin Maryoto mengatakan bahwa hingga saat ini kedua pihak masih melakukan negosiasi nilai pengalihan saham partisipasi Jambaran-Tiung Biru.

Lapangan Jambaran-Tiung Biru rencananya akan memproduksikan gas sebanyak 330 juta kaki kubik per hari (MMscfd) dengan gas yang bisa disalurkan 172 MMscfd.

Bisnis Indonesia, Page-32, Thursday, August 10, 2017

Target Segment Gresik-Semarang to Late

The construction of the 276-kilometer Gresik-Semarang transmission pipeline segment is targeted to be completed in mid-2018. Gas Director of PT Pertamina Yenni Andayani said that the company will not delay the construction of the gas pipeline, although it has yet to secure gas supply.

The Gnesik-Semarang transmission pipeline project will be connected through the provinces of Central Java and East Java. The pipeline project completion target is backward from the initial target. Previously, PT Pertamina Gas, a subsidiary of Pertamina, targeted the gas pipeline project to be completed in 2016 and then changed to the end of 2017.

"Gresem [Gresik-Semarang] is expected to be completed by 2018 by mid-pipe is over," he said in a press conference on Tuesday (8/8).

Currently, the project's projected investment of approximately US $ 515.7 million has already reached 60%. The transmission pipeline construction project is 28 inches in diameter. Gas distribution capacity of 500 million cubic feet per day (MMscfd) and equipped gas compressor station.

Contacted separately, Public Relations & CSR Manager of Pertamina Gas Hatim Ilwan said, the resignation of completion of the pipe project is due to land that can not be released. In addition, the initial agreement is that more than 50% of the railways can be passed by the gas pipeline, but the realization is lower. Therefore, Pertagas must create a new route which is a residential area.

From the data of the Downstream Oil and Gas Regulatory Agency (BPH Migas) there are at least 60 kilometers that have not been released yet.

"It takes extra time to complete the land acquisition," he said.

However, it hopes that the pipeline construction can be completed before the Jambaran-Tiung Biru Gas Field operates by the end of 2020. As is known, Jambaran-Tiung Biru will deliver 100 MMscfd of gas to PT Perusahaan Listrik Negara and 72 MMscfd for industry.

"We make sure the construction is completed before the Jambaran-Tiung Biru Project (JTB) operates. Because there is a strong issue of concern that the Gresik-Semarang pipeline is empty [no gas supply] it no longer exists, "he said.

In addition to Gresik-Semarang, BPH Migas has charged the construction of the Cirebon-Semarang gas pipeline project by PT Rekayasa Industri and the Kalimantan-Java II segment by PT Bakrie & Brotehrs Tbk.

IN INDONESIA

Target Ruas Gresik-Semarang Mundur

Pembangunan ruas pipa transmisi Gresik-Semarang sepanjang 276 kilometer ditargetkan rampung pada medio 2018. Direktur Gas PT Pertamina Yenni Andayani mengatakan bahwa perseroan tidak akan menunda pembangunan pipa gas itu meskipun belum mendapat kepastian pasokan gas.

Proyek pipa transmisi Gnesik-Semarang itu akan tersambung melewati provinsi Jawa Tengah dan Jawa Timur. Target penyelesaian proyek pipa itu mundur dari target awal. Sebelumnya PT Pertamina Gas, anak perusahaan Pertamina, menargetkan proyek pipa gas itu akan diselesaikan pada 2016 kemudian berubah menjadi akhir 2017.

“Gresem [Gresik-Semarang] diharapkan selesai 2018 pertengahan pipanya sudah selesai,” ujarnya dalam jumpa pers, Selasa (8/8).

Saat ini, progres proyek yang membutuhkan investasi sekitar US$ 515,7 juta itu sudah mencapai 60 %. Proyek pembangunan pipa transmisi itu berdiameter 28 inci. Kapasitas penyaluran gas sebesar 500 juta kaki kubik per hari (MMscfd) dan dilengkapi stasiun kompresor gas.

Dihubungi terpisah, Public Relation & CSR Manager Pertamina Gas Hatim Ilwan mengatakan, mundurnya penyelesaian pengerjaan proyek pipa tersebut dikarenakan terdapat lahan yang belum bisa dibebaskan. Selain itu, kesepakatan awal adalah lebih dari 50% jalur kereta api bisa dilewati pipa gas tersebut, tetapi realisasinya lebih rendah. Oleh karena itu, Pertagas harus membuat rute baru yang merupakan daerah permukiman.

Dari data Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas) paling tidak masih terdapat 60 kilometer yang belum dibebaskan. 

“Perlu waktu ekstra untuk menyelesaikan pembebasan lahan,” katanya.

Namun, pihaknya berharap agar konstruksi pipa bisa diselesaikan sebelum Lapangan Gas Jambaran-Tiung Biru beroperasi pada akhir 2020. Seperti diketahui, Jambaran-Tiung Biru akan mengalirkan 100 MMscfd gas untuk PT Perusahaan Listrik Negara dan 72 MMscfd untuk industri.

“Kita pastikan pembangunan selesai sebelum Proyek Jambaran-Tiung Biru (JTB) beroperasi. Karena ada isu kuat kekhawatiran bahwa pipa Gresik-Semarang kosong [tidak ada pasokan gasnya] itu tidak ada lagi,” katanya.

Selain Gresik-Semarang, BPH Migas telah menagih komitmen pembangunan proyek pipa gas ruas Cirebon-Semarang oleh PT Rekayasa Industri dan ruas Kalimantan-Jawa II oleh PT Bakrie & Brotehrs Tbk.

Bisnis Indonesia, Page-32, Thursday, August 10, 2017

Second scenario

Exposure to the performance of the oil and gas sector of the Ministry of Energy and Mineral Resources semester 1-2017 shows a less pleasing result though not so bad. Production of ready-to-sell / Iifting oil and gas is still below the target of APBN 2017. A little attention is the allocation of natural gas Indonesia.

Until the end of June 2017 oil lifting 802,000 barrels per day or still below the target of 815,000 barrels per day, while natural gas lifting of 1,131,000 barrels of oil equivalent per day or still below the 1,150,000 barrels of oil equivalent per day Become the target of lifting in APBN 2017. The cause of lifting is not good, among others, old age well and unplanned shutdown which often happened.

Natural gas, whose reserve life is much longer than oil is allocated to domestic needs with a share of 62 percent, while the other 38 percent is exported. However, its achievement in semester 1-2017 is still 60.4 percent. The realization of 2016 domestic allocation of 59 percent or equivalent to 4.016 billion british thermal units per day (BBTUD).

On a number of occasions, Vice Minister of EMR, Arcandra Tahar said, the utilization of gas for domestic needs will be optimized. Gas can be a solution as domestic petroleum production declines, while oil demand keeps increasing year by year. Unfortunately, Indonesia is not ready to use the gas wealth.

Infrastructure. That is the main obstacle to gas utilization for domestic needs. Infrastructure is a regasification terminal or floating storage regasification facility (FSRU).

Currently, in Indonesia there are only a few FSRUs operating ie FSRU Java operated by PT Nusantara Regas and FSRU Lampung operated by PT Perusahaan Gas Negara (PGN). In Benoa, Bali, there is also a floating regasification terminal (FRU) of Benoa built by PT Indonesia Power and PT Pelabuhan Indonesia III

With the condition of domestic gas infrastructure that is not ready, practical gas will be sold abroad. Moreover, the need for foreign exchange could also be the reason for the export of gas. On the other hand, gas that is not absorbed due to infrastructure constraints and has not received a purchase contract is often released into the spot market with the risk of a cheaper price than the contract price.

Then, what is the solution? This is what the government should think about. Moreover, it is estimated that it will need an investment of around Rp 650 trillion to build domestic gas infrastructures up to 2030. It is not a small cost, but it is not an impossible plan considering the construction of a 35,000 megawatt power plant that needs Rp1,100 trillion has been carried out by involving the private sector.

Building gas infrastructure in the country will not be inevitable because Indonesia should not be totally dependent on the oil that is now more difficult to produce in the country. For that, a quick step must be taken. The era of energy sources as a commodity must be stopped, Domestic energy should be utilized to drive the pulse of the economy and motor development. Now or never.

IN INDONESIA

Skenario Kedua

Paparan kinerja sektor minyak dan gas bumi Kementerian Energi dan Sumber Daya Mineral semester 1-2017 menunjukkan hasil yang tidak begitu menggembirakan meskipun juga tidak begitu jelek. Produksi siap jual/Iifting minyak dan gas bumi masih di bawah target APBN 2017. Yang sedikit menyita perhatian adalah alokasi gas bumi Indonesia.

Sampai dengan akhir Juni 2017 lifting minyak sebanyak 802.000 barrel per hari atau masih di bawah target yang sebanyak 815.000 barrel per hari, Sementara lifting gas bumi sebanyak 1.131.000 barrel setara minyak per hari atau masih di bawah 1.150.000 barrel setara minyak per hari yang menjadi target lifting dalam APBN 2017. Penyebab lifting kurang bagus antara lain usia sumur yang tua dan penghentian produksi tidak direncanakan (unplanned shutdown) yang sering terjadi.

Gas bumi, yang umur cadangannya jauh lebih panjang daripada minyak dialokasikan untuk kebutuhan domestik dengan bagian 62 persen, sedangkan 38 persen lainnya diekspor. Namun, pencapaiannya pada semester 1-2017 masih 60,4 persen. Adapun realisasi alokasi domestik 2016 sebesar 59 persen atau setara 4.016 miliar british thermal unit per hari (BBTUD). 

Dalam sejumlah kesempatan, Wakil Menteri ESDM Arcandra Tahar menyebutkan, pemanfaatan gas untuk kebutuhan domestik akan dioptimalkan. Gas dapat menjadi solusi di saat produksi minyak dalam negeri yang semakin turun, sementara kebutuhan minyak terus meningkat dari tahun ke tahun. Sayangnya, Indonesia seperti belum siap memanfaatkan kekayaan gas itu.

Infrastruktur. Itulah kendala utama pemanfaatan gas untuk kebutuhan domestik. Infrastruktur itu berupa terminal regasifikasi ataupun fasilitas penyimpanan terapung dan regasifikasi (floating storage regasifcation unit/FSRU).  

Saat ini, di Indonesia hanya ada beberapa FSRU yang beroperasi yaitu FSRU Jawa yang dioperasikan PT Nusantara Regas dan

FSRU Lampung yang dioperasikan PT Perusahaan Gas Negara (PGN). Di Benoa, Bali, juga ada terminal regasifikasi terapung (FRU) Benoa yang dibangun PT Indonesia Power dan PT Pelabuhan Indonesia III 

Dengan kondisi infrastruktur gas dalam negeri yang belum siap, praktis gas akan banyak dijual ke luar negeri. Apalagi, kebutuhan devisa juga bisa menjadi alasan ekspor gas itu. Di sisi lain, gas yang tidak terserap lantaran kendala infrastruktur dan belum mendapat kontrak pembelian kerap dilepas ke pasar spot dengan risiko harga lebih murah ketimbang harga kontrak.

Lalu, apa solusinya? Ini yang harus dipikirkan pemerintah. Apalagi, diperkirakan butuh investasi sekitar Rp 650 triliun untuk membangun berbagai infrastruktur gas di dalam negeri hingga 2030. Bukan ongkos yang kecil, tetapi bukan sebuah rencana yang mustahil mengingat program pembangunan pembangkit listrik 35.000 megawatt yang butuh Rp 1.100 triliun sudah dijalankan dengan melibatkan swasta.

Membangun infrastruktur gas di dalam negeri tidak akan terelakkan sebab Indonesia tidak boleh sepenuhnya bergantung pada minyak yang kini semakin sulit diproduksi di dalam negeri. Untuk itu, langkah cepat harus dilakukan. Era sumber energi sebagai komoditas harus dihentikan, Energi dalam negeri harus dimanfaatkan untuk menggerakkan nadi perekonomian dan motor pembangunan. Sekarang atau tidak sama sekali.

Kompas, Page-17, Thursday, August 10, 2017

Kepodang PGAS Block in Force Majeure Condition

PT Perusahaan Gas Negara Tbk (PGAS) acknowledges that one of its gas fields, Kepodang Block, is in a state of powers or Force majeure. The Kepodang Block gas reserves are less than expected. As a result, gas field production operations are forced to stop faster, ie in 2018.

In fact, in the plan of development (POD), Kepodang Block is planned to produce and supply gas to PLTGU Tambak Lorok through Kalija I pipeline until 2026.

"However, the force majerue situation does not mean that the operations are completely stopped," said Nusantara Suyono, Finance Director of PGAS, Wednesday (9/8).

He claims that the faster termination of Kepodang block operations has no significant impact on PGAS's finances. The reason, PGAS only has 20% participation rights Kepodang Block.

Participation rights are owned by PGAS through Saka Energi Muriah Ltd, a subsidiary of PT Saka Energi. Meanwhile, 80% of other participating rights are controlled by Petronas Carigali Muriah Ltd.

The archipelago is still reluctant to disclose the potential value of losses on the force majeure of Kepodang Block. The reason is, when the kahar condition was announced, the decline in Kepodang Block production has not been seen in detail. Thus, the potential losses can not be calculated.

"We are also awaiting the results of an independent team audit," he added.

Investment for Kepodang Block is not cheap. This can be seen from Petronas investment in this block which has reached US $ 650 million during the period of January to April 2017.

However, PGAS remains the focus of expansion in other businesses. This year, PGAS is preparing a capital expenditure (capex) of US $ 500 million. Until the semester l-2017, PGAS has just absorbed 26% of capital expenditure or equivalent to US $ 130 million.

Nusantara explained, PGAS capex is divided into two. As much as 50% for upstream business needs of Saka Energy, while the remaining 50% for downstream business is worked on PGAS, alone.

In the upstream business, the absorption of PGAS capex has reached US $ 100 million. But in downstream absorption business capex is still slow because not much workmanship of Engineering, Procurement, and Construction (EPC) like construction of gas pipeline network. PGAS shares rose 1.14% to Rp 2,160 in yesterday's trading.

IN INDONESIA

Blok Kepodang PGAS dalam Kondisi Kahar

PT Perusahaan Gas Negara Tbk (PGAS)  mengakui salah satu lapangan gasnya, Blok Kepodang, berada dalam kondisi kahar atau

force majeure. Cadangan gas Blok Kepodang lebih sedikit dari perkiraan. Alhasil, operasional produksi lapangan gas tersebut terpaksa dihentikan lebih cepat, yakni pada tahun 2018 mendatang.

Padahal, dalam plan of development (POD), Blok Kepodang rencananya akan memproduksi dan memasok gas ke PLTGU Tambak Lorok lewat pipa Kalija I hingga tahun 2026 mendatang. 

"Tapi, keadaan force majerue bukan berarti operasionalnya benar-benar berhenti," ujar Nusantara Suyono, Direktur Keuangan PGAS, Rabu (9/8).

Ia mengklaim, penghentian operasional blok Kepodang yang lebih cepat ini, tidak berdampak signifikan terhadap keuangan PGAS. Pasalnya, PGAS hanya memiliki 20% hak partisipasi Blok Kepodang.

Hak partisipasi tersebut dimiliki PGAS melalui Saka Energi Muriah Ltd, anak usaha PT Saka Energi. Sementara itu, 80% hak partisipasi lainnya dikuasai oleh Petronas Carigali Muriah Ltd.

Nusantara masih enggan membeberkan potensi nilai kerugian atas force majeure Blok Kepodang. Pasalnya, ketika kondisi kahar ini diumumkan, penurunan produksi Blok Kepodang belum terlihat secara rinci. Sehingga, potensi kerugiannya belum dapat dihitung. 

“Kami juga sedang menunggu hasil audit tim independen," imbuh dia.

lnvestasi untuk Blok Kepodang tidak murah. Hal ini terlihat dari investasi Petronas di blok ini yang sudah mencapai US$ 650 juta sepanjang periode Januari hingga April 2017.

Meski demikian, PGAS tetap fokus ekspansi di bisnisnya yang lain. Tahun ini, PGAS menyiapkan belanja modal (capex) US$ 500 juta. Hingga semester l-2017, PGAS baru saja menyerap 26% belanja modal atau setara US$ 130 juta.

Nusantara menjelaskan, capex PGAS terbagi dua. Sebesar 50% untuk keperluan bisnis hulu (upstream) yang digarap Saka Energi, sementara sisa 50% lainnya untuk bisnis downstream yang digarap PGAS, sendiri.

Di bisnis upstream, penyerapan capex PGAS sudah mencapai US$ 100 juta. Tapi di bisnis hilir serapan capex masih lambat karena belum banyak pengerjaan Engineering, Procurement, and Construction (EPC) seperti pembangunan jaringan pipa gas. Saham PGAS menguat 1,14% menjadi Rp 2.160 pada perdagangan kemarin.

Kontan, Page-8, Thursday, August 10, 2017

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