Tuban Block Wait Management Certainty

Although the management of the Work Area (WK) (Tuban Block by Joint Operating Body Pertamina Petrochina East Java (JOB-PPEJ) will end February 28, 2018, but until now there has been no official explanation who will manage the block.According to Superintendent Admin JOB PPEJ Akbar Pradima, WK Tuban Block which will be submitted by JOB PPEJ to the government, then on March 1, 2018 by the management government will be submitted to Pertamina Hulu Energi (PHE).

 "As far as I know, WK Block Tuban will be managed by Pertamina Hulu Energi (PHE). Whether Petrochina will join, I am not in the capacity to explain, "said Akbar Pradima

On the other hand, General Manager of Pertamina EP Asset 4 Didik Susilo confirmed that Sukowati Field will be managed by PErtamina EP Asset 4. The reason is Sukowati field as part of Pertamina EP work area.

"There is a letter from Upstream Director of Pertamina that starting March 1, 2018 Sukowati field will be managed Pertamina EP Asset" said Didik Susilo in a meeting with 36 national media editors who conduct field trips in Tuban, Boionegoro and Cepu.

WK Tuban Block which is divided into East Tuban Block covers Sidoarjo District, Mojokerto Regency, Gresik Regency and Lamongan Regency.

The West Tuban Block covers the Regencies of Tuban and Bojonegoro Regencies. At the beginning of contract signing February 29, 1988. WK Block Tuban area of ​​7,391 km2. After three regional allowances, the current working area is only about 1,478 km2.

After obtaining a mandate to manage WK Block Tuban, the first proven reserve discovery in April 1994. The discovery of the first reserve was named Mudi Field. The next discovery occurred in 2001 known as the Sukowati field.

Prior to the global oil price crisis, the total contribution of JOB PPEJ was 25,083 BOPD of crude oil and 25.73 MMCFD of gas (July 2014). The highest production of JOB-PPEJ occurs in 2012 which can reach 48,000 barrels per day.

Now due to the absence of new well drilling, to counter natural decline, JOB-PPEJ production at Mudi and Sukowati Fields is managed by well care and innovation. The total number of active wells being managed by JOB PPEJ at this time is 35 wells, with details of Sukowati Field 26 wells and Mudi Field 9 wells.

Because of the natural process commonly referred to as the Normal Production Decline, water production is now much larger than the oil. In Well Mudi, only 18,000 to 19,000 barrels of water per day (BWPD) are produced, while oil production is only about 1,100 - 1,200 BOPD.

"So also with Sukowati whose water production is 19.000 20.000 BWPD and oil 8,700 - 8,900 BOPD," said Acting Field Manager JOB PPEJ Fauzy Mayanullah.

IN INDONESIA

Blok Tuban Tunggu Kepastian Pengelola

Meski pengelolaan Wilayah Kerja (WK) (Blok Tuban oleh Joint Operating Body Pertamina Petrochina East Java (JOB-PPEJ) akan berakhir 28 Februari 2018 mendatang, namun hingga kini belum ada penjelasan resmi siapa yang akan mengelola blok itu. Menurut Admin Superintendent JOB PPEJ Akbar Pradima, WK Blok Tuban yang akan diserahkan JOB PPEJ pada pemerintah, selanjutnya pada 1 Maret 2018 oleh pemerintah pengelolaannya akan diserahkan kepada Pertamina Hulu Energi (PHE).

 “Setahu saya, WK Blok Tuban akan dikelola oleh Pertamina Hulu Energi (PHE). Apakah Petrochina akan gabung, saya tidak dalam kapasitas menjelaskan,” kata Akbar Pradima 

Di pihak lain, General Manager Pertamina EP Asset 4 Didik Susilo menegaskan bahwa Lapangan Sukowati akan dikelola oleh PErtamina EP Asset 4. Alasannya, lapangan Sukowati sebagai bagian dari wilayah kerja Pertamina EP.

“Sudah ada surat dari Direktur Hulu Pertamina bahwa mulai 1 Maret 2018 lapangan Sukowati akan dikelola Pertamina EP Asset" kata Didik Susilo dalam pertemuan dengan 36 editor media nasional yang melakukan kunjungan lapangan di wilayah Tuban, Boionegoro dan Cepu.

WK Blok Tuban yang terbagi menjadi Blok Tuban Timur meliputi Wilayah Kabupaten Sidoarjo, Kabupaten Mojokerto, Kabupaten Gresik dan Kabupaten Lamongan.

Sementara Blok Tuban Barat meliputi Wilayah Kabupaten Tuban dan Kabupaten Bojonegoro. Pada awal penandatangan kontrak 29 Februari 1988. WK Blok Tuban seluas 7.391 km2. Setelah tiga kali penyisihan wilayah, saat ini luas wilayah kerja hanya sekitar 1.478 km2.

Setelah mendapatkan mandat mengelola WK Blok Tuban, penemuan cadangan terbukti pertama pada bulan April 1994. Penemuan cadangan pertama ini diberi nama Lapangan Mudi. Penemuan selanjutnya terjadi di tahun 2001 yang dikenal dengan nama lapangan Sukowati. 

Sebelum krisis harga minyak dunia, total kontribusi JOB PPEJ  sekitar 25.083 BOPD minyak mentah (crude oil) dan 25,73 MMCFD gas (Juli 2014). Produksi tertinggi JOB-PPEJ terjadi pada tahun 2012 yang bisa mancapai 48,000 barel per hari.

Kini akibat tiadanya pengeboran sumur baru, untuk melawan penurunan alamiah, produksi JOB-PPEJ di Lapangan Mudi dan Sukowati berupaya dikendalikan lewat kegiatan perawatan sumur dan inovasi. Total jumlah sumur yang aktif dikelola JOB PPEJ pada saat ini sebanyak 35 sumur, dengan rincian Lapangan Sukowati 26 sumur dan Lapangan Mudi 9 sumur. 

Karena proses alamiah yang biasa disebut dengan istilah Normal Production Decline, kini produksi air jauh lebih besar daripada minyaknya. Di Sumur Mudi saja air yang ikut diproduksi sebanyak 18.000- 19.000 barel water per day ( BWPD), sementara produksi minyak hanya sekitar 1.100 - 1.200 BOPD. 

“Begitu juga dengan Sukowati yang produksi airnya 19.000 20.000 BWPD dan minyak 8.700 - 8.900 BOPD,” kata Acting Field Manager JOB PPEJ Fauzy Mayanullah.

Harian Bangsa, Page-4, Wednesday, August 23, 2017

ONWJ Participation Shares Completed November

The 10% share ownership stake in the Offshore North West Java Block located off Java's northern coast by the West Java SOEs don DKI Jakarta is expected to be completed by November 2017.

President Director of PT Migas Hulu Jabar Begin Troys said that PT Pertamina's due diligence due to the transfer of 10% Offshore North West Java Offshore Block (ONWJ) is currently underwritten.

Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) issued a letter of appointment of BUMD entitled to get a 10% ONWJ share offering on July 25, 2017. Begin hopes that the feasibility test process can be accelerated. The next process is the discussion of Joint Operation Agreement (JOA) which can be done in September. Thus, the process of reporting to SKK Migas is also stipulated by the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan can be completed in November 2017.

He is optimistic that the process of transferring shares of participation can run smoothly because two weeks ago just made a discovery with the Directors of PT PHE ONWJ, the operator of the offshore oil and gas block.

In association with ONWJ Block, since it was signed on January 18, 2017 under a gross split contract scheme, PT Pertamina Hulu Energi ONWJ becomes operator and controls 100% participation share. Referring to Minister of Energy and Mineral Resources Regulation no. 37/2016 on the Participating Interest Offer of 10% to the Oil and Gas Territory, for new contracts, the contractor shall offer 10% of its working area shares to the local government on which the project is located.

"Our hope, in November we have already had PI [participating interest] in ONWJ he said.

With the BUMD's share offerings, he hopes that starting next year the ownership of shareholding participation can contribute to the local revenue (PAD) of West Java Province. As for, referring to Ministerial Regulation no. 37/2016, the contractor of the dominant share ownership share bear the value of the shares of BUMD's participation. Thus, BUMDs can repay without interest interest in partisipsai shareholding and still earn money every month.

"Returns must still guarantee the BUMD get guarantee for deposit to PAD," he said.

JOINT VENTURE COMPANY

From the last discussion, BUMD West Java will not be the only company that manages 10% of ONWJ Block participation rights. Therefore, it will establish a joint venture company or (Special Purpose Vehicle / SPV) through PT Hulu Migas ONWJ to manage 10% of ONWJ Block cake.

In detail, the Jakarta Provincial Government through PT Jakarta Propertindo gets the remaining 20.29% share The West Java Provincial Government through Upstream Oil and Gas Jabar controls 79.91%, including Indramayu 4.71%, Subang 2.93%, Karawang 8.24% and Bekasi 1.70%.

SVP Upstream Business Development Pertamina Denie S. Tampubolon said that the company is still processing BUMD's appointment based on a letter sent by SKK Migas.

"We will follow up according to the appointment," he said.

IN INDONESIA

Saham Partisipasi ONWJ Tuntas November

Kepemilikan saham partisipasi 10% di Blok Offshore North West Java yang berlokasi di lepas pantai utara Jawa oleh BUMD Jawa Barat don DKI Jakarta diharapkan tuntas pada November 2017.

Direktur Utama PT Migas Hulu Jabar Begin Troys mengatakan bahwa saat ini masih diiakukan uji kelayakan (due diligence) oleh PT Pertamina terhadap proses pengalihan 10% saham Blok Offshore North West Java (ONWJ).

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menerbitkan surat penunjukkan BUMD yang berhak mendapat penawaran 10% saham ONWJ pada 25 Juli 2017. Begin berharap agar proses uji kelayakan itu bisa dipercepat. Proses berikutnya berupa pembahasan perjanjian kerja sama operasi (Joint Operation Agreement/JOA) yang dapat dilakukan pada September. Dengan demikian, proses pelaporan ke SKK Migas juga penetapan oleh Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan bisa tuntas pada November 2017.

Dia optimistis proses peralihan saham partisipasi itu dapat berjalan dengan lancar karena dua pekan lalu baru melakukan penemuan dengan Direksi PT PHE ONWJ, operator blok migas lepas pantai tersebut.

Terkait dengan Blok ONWJ, sejak ditandatangani pada 18 Januari 2017 dengan skema kontrak bagi hasil kotor (gross split), PT Pertamina Hulu Energi ONWJ menjadi operator dan menguasai saham partisipasi sebesar 100%. Mengacu pada Peraturan Menteri ESDM No. 37/2016 tentang Penawaran Participating Interest 10% kepada Wilayah Migas, untuk kontrak baru, kontraktor wajib menawarkan 10% saham wilayah kerjanya kepada pemerintah daerah yang menjadi lokasi proyek.

“Harapan kita, November kita sudah resmilah punya PI [participating interest] di ONWJ  ujarnya. 

Dengan penawaran saham BUMD itu, dia berharap agar mulai tahun depan kepemilikan saham partisipasi bisa menyumbang terhadap pendapatan asli daerah (PAD) Provinsi Jawa Barat. Adapun, mengacu pada Peraturan Menteri No. 37/2016, kontraktor pemilik saham partisipasi dominan menanggung terlebih dahulu nilai saham partisipasi milik BUMD. Dengan demikian, BUMD bisa mencicil tanpa bunga nilai kepemilikan saham partisipsai dan tetap mendapat penghasilan setiap bulan.

“Pengembalian harus tetap menjamin BUMD mendapat jaminan untuk setoran ke PAD,” katanya.

PERUSAHAAN PATUNGAN

Dari diskusi terakhir, BUMD Jawa Barat tidak akan menjadi satu-satunya perusahaan yang mengelola 10% hak partisipasi Blok ONWJ. Oleh karena itu pihaknya akan membentuk perusahaan patungan atau (Special Purpose Vehicle/SPV] melalui PT Hulu Migas ONWJ untuk mengelola 10% kue Blok ONWJ.

Rincinya, Pemerintah Provinsi DKI melalui PT Jakarta Propertindo mendapat porsi 20,29% sisanya Pemerintah Provinsi Jawa Barat melalui Hulu Migas Jabar menguasai 79,91 %, termasuk Indramayu 4,71 %, Subang 2,93 %, Karawang 8,24% dan Bekasi 1,70%.

SVP Upstream Business Development Pertamina Denie S. Tampubolon mengatakan pihaknya masih memproses penunjukkan BUMD berdasarkan surat yang dikirimkan SKK Migas. 

“Kami akan menindaklanjuti sesuai dengan penunjukkan tersebut,” katanya. 

 Bisnis Indonesia, Page-32, Wednesday, August 23, 2017

Gross Split Rules Revised

The Ministry of Energy and Mineral Resources is amending several points in Ministerial Regulation no. 8/2017 on the Gross Profit Sharing Contracts issued in January 2017.

In the first half of 2017, the ESDM Ministry has issued 50 regulations in the form of Ministerial Regulation, six of which are revised. After revising some of the rules such as Regulation of the Minister of Energy and Mineral Resources No. 11/2017 on Gas Price for Electricity Sector up to the points in the power purchase agreement, it is now turn Minister of Energy and Mineral Resources Regulation no. 8/2017 which entered the stage of revision discussion.

Deputy Minister of Energy and Mineral Resources Arcandra Tahar said that his side conducted an evaluation based on suggestions from business actors. This suggestion is important because the government is offering a new working area to investors. This year, the government offers 15 new blocks with seven conventional oil and gas blocks offered through direct offerings.

The seven blocks are Andaman I, Andaman II, South Tuna, Merak Lampung, Pekawai, West Yamdena, and Kasuri III. Other oil and gas blocks are Cokkol, East Tanimbar, Mamberamo, Jambi I and Jambi II shale gas blocks and methane gas blocks of Raja, Bungamas and West Air Komering coal, offered through regular auctions.

Oil and gas block

The government's offer is expected to end on the signing of a new contract. This auction opportunity is even more important because of the auction last year there has been no new cooperation contract signed. For that reason, the government revised some points in the 7-month-old rule to be more investment-friendly.

Through Minister of Energy and Mineral Resources Regulation no. 8/2017, the government implements a gross split share contract for new contracts. The government offers a gross revenue share between the government and contractors for oil development of 57:43 and 52:48 for gas.

Unlike the current contract of cooperation, gross split eliminates the operating cost recovery factor so that the profit received by the contractor has calculated the operating costs until oil and gas are produced.

The government also sets additional revenue-sharing for contractors tailored to the challenges in the field such as development sites, infrastructure availability to impurities such as mud or carbon dioxide. In addition to variables, factors of oil price levels and cumulative production will be a factor in the progressive revenue share.

"We evaluate, we listen to input from KKKS [Contractor Cooperation Contract]," he said, Tuesday (22/8).

Based on the proposed business actors, there are some guarantees for changes in the gross split rules. First, it has conducted a comprehensive study of the project from exploration to production phase so that in the stage of submission of the Plan of Development (PoD) plan is not only the first PoD submission that gets incentive, but the next PoD.

"For that we listen, we love the incentive in the second PoD," he said.

Secondly, based on the analysis done, it is important to ensure that the investment value seen from the present is at least equal to or greater than the current contract. Third, the gross split contract with this improvement will result in the same investment returns even greater than the existing contract.

IN INDONESIA

Aturan Gross Split Direvisi

Kementerian Energi dan Sumber Daya Mineral sedang mengubah beberapa poin dalam Peraturan Menteri No. 8/2017 tentang Kontrak Bagi Hasil Kotor yang diterbitkan pada Januari 2017.

Pada paruh pertaMa 2017, Kementerian ESDM telah menerbitkan 50 peraturan berupa Peraturan Menteri, enam di antaranya merupakan hasil revisi. Setelah merevisi beberapa aturan seperti Peraturan Menteri ESDM No. 11/2017 tentang Harga Gas untuk Sektor Ketenagalistrikan hingga poin-poin dalam perjanjian pembelian listrik, kini giliran Peraturan Menteri ESDM No. 8/2017 yang masuk tahap pembahasan revisi.

Wakil Menteri ESDM Arcandra Tahar mengatakan bahwa pihaknya melakukan evaluasi berdasarkan saran dari pelaku usaha. Saran ini menjadi penting kanena pemerintah sedang menawarkan wilayah kerja baru kepada investor. Pada tahun ini, pemerintah menawarkan 15 blok baru dengan tujuh blok migas konvensional ditawarkan melalui penawaran langsung. 

Ketujuh blok tersebut yakni Andaman I, Andaman II, South Tuna, Merak Lampung, Pekawai, West Yamdena, dan Kasuri III. Blok migas lainnya adalah Tongkol, East Tanimbar, Mamberamo, blok gas serpih (shale gas) Jambi I dan Jambi II rerta blok gas metana batu bara Raja, Bungamas, dan West Air Komering ditawarkan melalui lelang reguler.

Tawaran pemerintah diharapkan agar bisa berakhir pada penandatanganan kontrak baru. Kesempatan lelang ini pun semakin penting karena dari lelang tahun lalu belum ada kontrak kerja sama baru yang diteken. Dengan alasan itu, pemerintah merevisi beberapa poin dalam aturan yang telah berusia 7 bulan itu agar lebih ramah investasi.

Melalui Peraturan Menteri ESDM No. 8/2017, pemerintah menerapkan kontrak bagi hasil kotor atau gross split bagi kontrak baru. Pemerintah menawarkan bagi hasil secara kotor antara pemerintah dan kontraktor untuk pengembangan minyak sebesar 57:43 dan 52:48 untuk gas.

Berbeda dengan kontrak kerja sama yang berlaku saat ini, gross split menghilangkan faktor pengembalian biaya operasi sehingga bagi hasil yang diterima kontraktor telah menghitung biaya operasi hingga minyak dan gas dihasilkan. 

Pemerintah pun menetapkan tambahan bagi hasil bagi kontraktor yang disesuaikan dengan tantangan di lapangan seperti lokasi pengembangan, ketersediaan infrastruktur hingga kandungan zat pengotor seperti lumpur atau karbondioksida. Selain variabel, faktor tingkat harga minyak dan kumulatif produksi akan menjadi faktor dalam bagi hasil progresif.

"Kita evaluasi, kita mendengarkan masukan dari KKKS [kontraktor Kontrak Kerja Sama],” ujarnya, Selasa (22/8).

Berdasarkan usulan pelaku usaha, terdapat beberapa jaminan perubahan dalam aturan gross split. Pertama, pihaknya telah melakukan kajian secara komprehensif masa proyek dari tahap eksplorasi hingga produksi sehingga pada tahap pengajuan rencana pengembangan lapangan (Plan of Development/ PoD) tidak hanya penyampaian PoD yang pertama yang mendapat insentif, melainkan PoD berikutnya. 

"Untuk itu kita dengarkan, kita kasih insentif di PoD kedua," katanya.

Kedua, berdasarkan analisis yang dilakukan, penting untuk menjamin nilai investasi yang dilihat dari saat ini paling tidak sama atau lebih dari kontrak yang berlaku saat ini. Ketiga, kontrak gross split dengan perbaikan ini nantinya akan menghasilkan rasio pengembalian investasi yang sama bahkan lebih besar dari kontrak yang sudah ada. 

 Bisnis Indonesia, Page-32, Wednesday, August 23, 2017

Revenue Shares of Pertamina in ONWJ Block Significantly

PT Pertamina Hulu Energi (PHE) is getting an increase of 6,0027 for Offshore North West Java (ONWJ) Block from 57.5% to 73.5% for oil and gas from 62.5% to 81%. The amount of profit sharing is because PHE ONWJ gets additional from the fluctuation factor of oil price and cumulative production.

Upstream Director of PT Pertamina Syamsu Alam said that under the oil and gas contract scheme of gross split scheme, there are split base components, split variable, progressives split, and 5% minister of Energy and Mineral Resources (EMR)). Previously, ONWJ Block has been granted an additional split through ministerial discretion of 5%. Now additional splits are also obtained from the progressive split factor.

"Then with the perception that the gas production is equivalent to oil and it is agreed that the cumulative volume of production from the beginning of the contract is considered zero, then get additional split again in ONWJ Block," he said in Jakarta on Monday (21/8).

President Director of Pertamina Hulu Energi Gunung Sardjono Hadi confirmed that the split in ONWJ Block has changed from the beginning of the contract signed, ie 62.5% for gas and 57.5% for oil. With oil prices at an average of US $ 45-50 per barrel, it gets an additional 5% split for oil and 7.5% for gas. Then from the cumulative factor of production, it can increment split each 3% for oil and gas.

"So the total split for PHE ONWJ by the end of 2017 is 73.5% for oil and 81% for gas," he said.

This split amount is included with the addition of a ministerial discretion of 5%.

But the amount of split in Block ONWJ will change again next year. In the production sharing contract (PSC), it is agreed that the ONWJ Block split is dynamic. For the split in 2018, it will depend on the movement of crude oil prices and the cumulative oil and gas production from the offshore block of West Java. As for the amount of split from the factor of Domestic Content Level (TKDN) will depend on its realization. Although the split changed, he said there is no need to change the contract.

"So it has been define from the beginning, there should be no amendment of PSC every year," said Gunung Sarjono.

With this split increase, it is also more aggressive in investing in Block ONWJ. In the initial agreement, the total investment commitment of the company in this block is only US $ 8.5 billion for the entire contract period of 20 years. However, this figure was later revised up to US $ 15.9 billion.

While investment commitments in the first three years remain US $ 82.3 million. He said the increase in investment because the oil and gas production target ONWJ Block along the contract also changed to be higher. The block is targeted to produce oil and gas of 556 million barrels of oil equivalent over 20 years, with details of 331 million barrels of oil and 1.2 trillion cubic feet of gas. The government recorded oil reserves in ONWJ Block recorded at 309.8 million barrels and gas 1,114.9 billion cubic feet.

For this year, his side began to work on some activities that will be done to pursue production targets. In detail, it will work on drilling six development wells, 12 wells re-work, adding well maintenance activities, and improving production facilities.

"We will also do our best to do cost eficiency from the procurement side of goods and services that have not followed the PTK 007," said Gunung.

Still Discussed

Meanwhile, for the eight block-out of contracts assigned to Pertamina, Alam said that it is still being discussed for its work program with the Ministry of Energy and Mineral Resources and the Special Unit for Upstream Oil and Gas Business Activities (SKK Migas). With the exception of East Kalimantan Block, it has stated that it is ready to manage the blocks under certain conditions.

Meanwhile, for East Kalimantan Block, his side requested additional time to make consideration because of the abandonment and site restoration (ASR) burden to the economy.

"We have special experience with SKK Migas for East Kalimantan Block," he said.

Syamsu Alam revealed, it is not want to slow down the certainty about the East Kalimantan Block. It is also of interest immediately that there is a solution for the block in East Kalimantan considering the contract will be completed next year. Moreover, SKK Migas also expects Pertamina to manage the block.

"But the thing is we do not want to rush to say we can manage, but then the hassles," he added.

As is known, the government commissioned Pertamina to manage eight working areas that will expire the contract. The eight working areas are Tuban Block, East Java (JOB Pertamina-PetroChina East Java); Block Ogan Komering, South Sumatera (JOB Pertamina-Talisman); Sanga-Sanga Block, East Kalimantan (Saka Energi); Southeast Sumatra Block (SES), Lampung (CNOOC SES Limited); Central Block, East Kalimantan (Total E & P Indonesie); Block of Attaka, East Kalimantan (Chevron), East Kalimantan Block (Chevron) and North Sumatra Offshore Block, Aceh (Pertamina).

WORKING AREA OIL AND GAS IN INDONESIA

Previously, Deputy Minister of EMR Arcandra Tahar explained that this block's block is given to Pertamina because the government wants to strengthen the national oil and gas company. Because the contribution of oil and gas production Pertamina compared to the national oil and gas production recorded only about 24%. While the contribution of national oil and gas companies of other countries on average reaches 90% of the total oil and gas production of the country.

"One of the ways (strengthening national oil and gas companies) offers block of contracts to Pertamina. If interested, then the government gives preference for Pertamina to manage, "he said.

IN INDONESIA

Bagi Hasil Pertamina di Blok ONWJ Naik Signifikan

PT Pertamina Hulu Energi (PHE) mendapat tambahah bagi hasil 6,0027 untuk Blok Offshore North West Java (ONWJ), yakni dari 57,5% menjadi 73,5% untuk minyak dan untuk gas dari 62,5% menjadi 81%. Besaran bagi hasil dinaikkah lantaran PHE ONWJ mendapat tambahan dari faktor fluktuasi harga minyak dan kumulatif produksi.

Direktur Hulu PT Pertamina Syamsu Alam mengatakan, sesuai kontrak migas skema bagi hasil kotor (gross split), terdapat komponen base split, variable split, progressives split, serta dikresi Menteri Energi dan Sumber Daya Mineral (ESDM) 5%. Sebelumnya, Blok ONWJ telah diberikan tambahan split melalui diskresi menteri sebesar 5%.  Kini tambahan split juga diperoleh dari faktor progressive split.

“Kemudian dengan disamakannya persepsi bahwa produksi gas diekuivalenkan dengan minyak dan disepakati bahwa volume kumulatif produksi dari awal kontrak dianggap nol, maka mendapat tambahan split lagi di Blok ONWJ,” kata dia di Jakarta, Senin (21/8).

Presiden Direktur Pertamina Hulu Energi Gunung Sardjono Hadi membenarkan bahwa split di Blok ONWJ telah berubah dari awal kontrak diteken, yakni sebesar 62,5% untuk gas dan 57,5% untuk minyak. Dengan harga minyak di rata-rata US$ 45-50 per barel, pihaknya mendapat tambahan split 5% untuk minyak dan 7,5% untuk gas. Kemudian dari faktor kumulatif produksi, pihaknya dapat kenaikan split masing-masing 3% untuk minyak dan gas.

“Sehingga total split untuk PHE ONWJ sampai akhir 2017 yakni sebesar 73,5% untuk minyak dan 81% untuk gas,” katanya.

Besaran split ini sudah termasuk dengan tambahan dari diskresi menteri sebesar 5%.

Namun besaran split di Blok ONWJ ini akan berubah lagi pada tahun depan. Dalam kontrak kerja sama (production sharing contract/PSC), memang disepakati bahwa split Blok ONWJ bersifat dinamis. Untuk besaran split di 2018, nantinya akan tergantung pada pergerakan harga minyak mentah dan komulatif produksi migas dari blok di lepas pantai Jawa Barat ini.  Sementara untuk besaran split dari faktor Tingkat Kandungan Dalam Negeri (TKDN) akan tergantung pada realisasinya. Meski split berubah, dikatakannya tidak perlu ada perubahan kontrak. 

“Jadi sudah di-define dari awal, tidak perlu ada amendemen PSC setiap tahunnya,” kata Gunung Sarjono.

Dengan adanya kenaikan split ini, pihaknya juga semakin agresif dalam berinvestasi di Blok ONWJ. Dalam kesepakatan awal, total komitmen investasi perseroan di blok ini hanya sebesar US$ 8,5 miliar untuk sepanjang masa kontrak 20 tahun. Namun, angka ini kemudian direvisi naik menjadi US$ 15,9 miliar. 

Sementara komitmen investasi pada tiga tahun pertama tetap US$ 82,3 juta. Dikatakannya, kenaikan investasi lantaran target produksi migas Blok ONWJ sepanjang kontrak juga diubah menjadi lebih tinggi. Blok ini ditargetkan menghasilkan migas sebesar 556 juta barel setara minyak selama 20 tahun, dengan rincian minyak 331 juta barel dan gas 1,2 triliun kaki kubik. Pemerintah mencatat cadangan minyak di Blok ONWJ tercatat masih 309,8 juta barel dan gas 1.114,9 miliar kaki kubik. 

Untuk tahun ini, pihaknya mulai mengerjakan beberapa kegiatan yang akan dilakukan untuk mengejar target produksi. Rincinya, pihaknya akan mengerjakan pengeboran enam sumur pengembangan, kerja ulang 12 sumur, penambahan kegiatan perawatan sumur (well services), dan perbaikan fasilitas produksi. 

“Kami juga akan berusaha semaksimal mungkin melakukan cost eficiency dari sisi pengadaan barang dan jasanya yang sudah tidak mengikuti PTK 007,” kata Gunung.

Masih Dibahas

Sementara itu, untuk delapan blok habis kontrak yang ditugaskan ke Pertamina, Alam menuturkan masih dibahas untuk program kerjanya dengan Kementerian ESDM dan Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Kecuali Blok East Kalimantan, pihaknya sudah menyatakan siap mengelola blok-blok tersebut dengan kondisi-kondisi tertentu.

Sementara untuk Blok East Kalimantan, pihaknya meminta tambahan waktu untuk membuat pertimbangan lantaran beban dana pasca tambang (abandonment and site restoration/ ASR) yang memberatkan ke-ekonomiannya. 

“Kami ada pendalaman khusus dengan SKK Migas untuk Blok East Kalimantan,” ujarnya.

Syamsu Alam mengungkapkan, pihaknya bukan ingin memperlambat adanya kepastian soal Blok East Kalimantan. Pihaknya juga berkepentingan segera ada solusi untuk blok di Kalimantan Timur ini mengingat kontraknya akan selesai pada tahun depan. Apalagi, SKK Migas juga berharap Pertamina mengelola blok ini.

“Tetapi masalahnya kami tidak mau buru-buru bilang sanggup mengelola, tetapi kemudian kerepotan,” tambahnya.

Seperti diketahui, pemerintah menugaskan Pertamina untuk mengelola delapan wilayah kerja yang akan habis masa kontraknya. Delapan wilayah kerja tersebut yakni Blok Tuban, Jawa Timur (JOB Pertamina-PetroChina East Java); Blok Ogan Komering, Sumatera Selatan (JOB Pertamina-Talisman); Blok Sanga-Sanga, Kalimantan Timur (Saka Energi); Blok Southeast Sumatera (SES), Lampung (CNOOC SES Limited); Blok Tengah, Kalimantan Timur (Total E&P Indonesie); Blok Attaka, Kalimantan Timur (Chevron), Blok East Kalimantan (Chevron) dan Blok North Sumatera Offshore, Aceh (Pertamina).

Sebelumnya, Wakil Menteri ESDM Arcandra Tahar menjelaskan, kedepalan blok ini diberikan ke Pertamina lantaran pemerintah ingin memperkuat perusahaan migas nasional. Pasalnya, kontribusi produksi migas Pertamina dibandingkan produksi migas nasional tercatat baru sekitar 24%. Sementara kontribusi perusahaan migas nasional negara-negara lain rata-rata mencapai 90% dari total produksi migas negara tersebut.

“Salah satu caranya (memperkuat perusahaan migas nasional) menawarkan blok habis kontrak ke Pertamina. Apabila berminat, maka pemerintah beri preference untuk Pertamina untuk kelola,” ujarnya.

Investor Daily, Page-17, Tuesday, August 22, 2017

Scramble 'Black Gold' Time in Wonocolo

The area of ​​traditional oil mines in Wonocolo Village, Kedewan Subdistrict, Bojonegoro still continues to burst to this day. Oil fields that have been more than 100 years old is still used by the local community.

After entering the village of Wonocolo, you can immediately see the traditional oil wells scattered in the hills. Well drilling is done using simple tools, such as wooden poles and diesel engines to move the pipe.

Based on data of PT Pertamina EP Asset 4 subsidiaries of PT Pertamina currently there are about 700 oil wells in Wonocolo. However, only about 40 wells are actively producing. Currently, the area of ​​the traditional oil wells produces 400 barrels per day (bpd).

Government and Public Relation Assistant Manager of PT Pertamina EP Asset IV Pandjie Galih Anoraga said that the crude oil from Wonocolo is sold to Pertamina EP Asset IV at 70% price and Indonesian Crude Price (ICP).

"Oil from Wonocolo is sold to Pertamina," he said.

With oil prices around US $ 50 per barrel, the total value of crude oil sales from Wonocolo Village is around Rp 182 million per day (assuming Rp 13,000 per US $).

About 250 old wells in the hills of the mountains Kendeng it is a relic of the Netherlands. To avoid illegal drilling activities, the Wonocolo area is now managed by Pertamina EP Asset IV. To defend the historical value of the traditional 'black gold' mining area, the government established Wonocolo as an oil and gas tourism village in 2016.

With traditional hillside views and oil drilling activities, the region can attract tourists who want to see first hand oil drilling activities with simple tools. Wonocolo transformed into a tourist village with oil-like concept of oil area in Texas, United States.

To attract more tourists, the managers of Wonocolo Village have made a crossroad for Offroad with jeep vehicles. You can Offroad to enjoy the hilly area while walking along the old wells using a jeep. In addition, visitors can also see the rock museum. Despite the low oil prices, residents in Wonocolo Village are still doing the drilling of the old well.

Oil price fluctuations are not new. Precisely the characteristic of the black liquid price is up and down. In fact, when oil was first discovered and drilled in an oil field in Pennsylvania, the US in the 19th century, the price of black liquor was US $ 30 per barrel.

However, soon the price touched US $ 1 cent per barrel. Get down drastically. At that time, the 'price war' between the producer or the driller with the oil buyer company continued to operate. Even some say the oil business is loaded with cartels. So, do not be surprised if the price of oil can be cheaper than the price of water and at other times the price could soar high into the clouds.

The traditional oil well drilling activities at Wonocolo are inversely proportional to Banyu Urip Field, Cepu Block. PT ExxonMobil Cepu Limited, as operator of Banyu Urip Field, is able to lift oil from the earth's stomach by 201,000 bph with just 35 wells. Meanwhile, oil production in Wonocolo with 700 wells only produced 400 bpd.

A very contrasting scene, between the use of advanced technology and the traditional way. The optimal management of Wonocolo Village is believed to attract more tourists. The hilly terrain, offroad tracks, traditional oil drilling activities, the history of the Dutch oil company, the rock museum and the natural beauty of Wonocolo Village will be a magnet for tourists who want to know the history of oil in Indonesia.

IN INDONESIA

Mengais Sisa ‘Emas Hitam’ di Wonocolo

Wilayah tambang minyak tradisional di Desa Wonocolo, Kecamatan Kedewan, Bojonegoro masih terus menyembur hingga saat ini. Ladang minyak yang telah berusia lebih dari 100 tahun itu masih dimanfaatkan oleh masyarakat setempat.

Setelah masuk ke wilayah Desa Wonocolo, Anda bisa langsung melihat sumur-sumur minyak tradisional yang bertebaran di perbukitan. Pengeboran sumur dilakukan dengan menggunakan alat-alat sederhana, seperti tiang-tiang dari kayu dan mesin diesel untuk menggerakkan pipa.

Berdasarkan data PT Pertamina EP Aset 4 anak usaha PT Pertamina saat ini ada sekitar 700 sumur minyak di Wonocolo. Namun, hanya sekitar 40 sumur yang aktif berproduksi. Saat ini, wilayah sumur minyak tradisional itu menghasilkan 400 barel per hari (bph).

Government dan Public Relation Assistant Manager PT Pertamina EP Asset IV Pandjie Galih Anoraga mengatakan bahwa minyak mentah dari Wonocolo tersebut dijual ke Pertamina EP Asset IV dengan harga 70% dan harga minyak Indonesia (Indonesia Crude Price/ICP). 

"Minyak dari Wonocolo dijual ke Pertamina," katanya.

Dengan harga minyak sekitar US$ 50 per barel, total nilai penjualan minyak mentah dari Desa Wonocolo sekitar Rp 182 juta per hari (dengan asumsi Rp 13.000 per US$).

Sekitar 250 sumur tua di wilayah perbukitan pegunungan Kendeng itu merupakan peninggalan Belanda. Untuk menghindari kegiatan pengeboran illegal, wilayah Wonocolo kini dikelola oleh Pertamina EP Asset IV. Untuk mempertahankan nilai sejarah wilayah penambangan ‘emas hitam’ tradisional itu, pemerintah menetapkan Wonocolo sebagai desa wisata minyak dan gas bumi pada 2016. 

Dengan pemandangan perbukitan serta aktivitas pengeboran minyak secara tradisional, wilayah itu dapat menarik para wisatawan yang ingin melihat secara langsung kegiatan pengeboran minyak dengan alat sederhana. Wonocolo diubah menjadi desa wisata minyak dan gas dengan konsep seperti kawasan minyak di Texas, Amerika Serikat.

Untuk semakin menarik wisatawan, pengelola Desa Wonocolo telah membuat jalan lintas untuk Offroad dengan kendaraan jip. Anda bisa Offroad untuk menikmati wilayah perbukitan sambil menyusuri sumur-sumur tua menggunakan jip. Selain itu, pengunjung juga bisa melihat museum bebatuan. Kendati harga minyak masih rendah, penduduk di Desa Wonocolo masih tetap melakukan kegiatan pengeboran sumur tua tersebut.

Fluktuasi harga minyak bukan hal baru. Justru ciri khas dari cairan hitam itu harga yang naik turun. Bahkan, saat pertama kali minyak ditemukan dan dibor di kawasan minyak di Pennsylvania, AS pada abad 19, harga cairan hitam pekat itu US$ 30 per barel.

Namun, tidak lama kemudian harga menyentuh US 1 sen per barel. Turun drastis. Saat itu, ‘peperangan harga’ antara produsen atau pengebor dengan perusahaan pembeli minyak terus berlanggsung. Bahkan beberapa kalangan menyebutkan bisnis minyak penuh dengan kartel. Jadi, tidak heran jika harga minyak bisa lebih murah dari harga air dan pada waktu lain harga bisa membumbung tinggi jauh ke awan.

Kegiatan pengeboran sumur minyak secara tradisional di Wonocolo berbanding terbalik dengan Lapangan Banyu Urip, Blok Cepu. PT ExxonMobil Cepu Limited, sebagai operator Lapangan Banyu Urip, mampu mengangkat minyak dari perut bumi sebanyak 201.000 bph hanya dengan 35 sumur. Sementara itu, produksi minyak di Wonocolo dengan 700 sumur hanya menghasilkan 400 bph.

Sebuah pemandangan yang sangat kontras, yaitu antara pemakaian teknologi canggih dan cara tradisional. Pengelolaan Desa Wonocolo secara optimal diyakini bakal menarik wisatawan lebih banyak lagi. Wilayah perbukitan, lintasan offroad, aktivitas pengeboran minyak secara tradisional, sejarah perusahaan minyak Belanda, museum bebatuan, dan keindahan alam di Desa Wonocolo bakal menjadi magnet bagi para wisatawan yang ingin mengetahui sejarah minyak di Indonesia.

Kontan, Page-18, Wednesday, August 23, 2017

The Gross Split Rule of Oil and Gas Scheme Finally Changed

This revision will only raise incentive variables for the division basis to increase.

The Ministry of Energy and Mineral Resources (ESDM) finally revised the Regulation of the Minister of Energy and Mineral Resources No. 8/2017 on the Gross Split Revenue Contract. Deputy Minister of EMR, Arcandra Tahar explained, the revision is based on government evaluation and input from Contractor Cooperation Contracts (KKKS), especially those that are following the auction Working Area (WK) Oil and Gas 2017. He claimed, ESDM listened input from KKKS.

"We have said that every human product can be revised if things are found that are not exciting or less stimulating investment," said Arcandra, Tuesday (22/8)

Arcandra hopes revision of Ministerial Regulation number 8/2017 can be completed and published.

"Insya Allah in the near future," he said.

As an illustration, through a gross split scheme, the government provides the initial share of the larger split for the contractor. Namely base split for gas contractor part 48%, while government 52%.

While base oil split contractor part by 43% and government equal to 57%. Yet this initial revenue share includes all the investment and costs that contractors have to incur.

The government has no longer implemented cost recovery. Therefore, to sweeten, the government provides additional split of several variables

In the revision, the government will not only provide 5% split (share) for the first Plan of Development (POD), but will also add a 5% split in the second or continued PoD.

"If it's in a block, then there's a new PoD, this new field in a block, if not given incentives, will not develop? Well now we give the second POD also incentives," said Arcandra.

The addition of a split in the second PoD is based on the KKKS's suggestion that the gross split rule is made only on the basis of data from the existing fields, not counted from the field beginning to be explored. In addition, KKKS feels, in conducting exploration activities there is no incentive given by the government.

In addition, Arcandra also said the government will make Net Present Value (NVP) and Rate Of Return (ROR) the same or even greater than the scheme of production sharing contract aka Product Sharing Contract NPV equal to cost recovery PSC.

"Before we launch, we invite the KKKS to take the bid round, our discussion," he said.

The government will provide more variables for additional splits. Meanwhile, for existing variables and progressive splits will also be added from the revenue share.

Executive Director of Indonesian Petroleum Association (IPA) Marjolijn Wahjong said IPA basically requested that the fiscal term given could raise Indonesia's competition level to attract investment for the oil and gas industry to Indonesia.

Energy Observer from Gadjah Mada University Fahmi Radhi stated, gross split substance is correct and need not be revised again. More revisions to its application obligations. At the beginning of its application should not be required as a replacement of cost recovery, but as a complement.

"The contractor is given the option to choose gross split or cost recovery for five years," he said.

He was not sure the addition of base split stimulates contractors for investment in oil and gas.

"Contractors are already comfortable with PSC cost recovery, suddenly required to use gross split," he said.

IN INDONESIA

Aturan Skema Gross Split Migas Akhirnya Diubah

Revisi ini hanya akan menaikkan variabel insentif agar basis pembagian meningkat.

Kementerian Energi dan Sumber Daya Mineral (ESDM) akhirnya merevisi Peraturan Menteri ESDM Nomor 8/2017 tentang Kontrak Bagi Hasil Gross Split. Wakil Menteri ESDM, Arcandra Tahar menjelaskan, revisi tersebut berdasarkan evaluasi pemerintah dan masukan dari Kontraktor Kontrak Kerja Sama (KKKS) terutama yang sedang mengikuti lelang Wilayah Kerja (WK) Migas 2017. Ia mengklaim, ESDM mendengarkan masukan dari KKKS. 

"Kami sudah bilang, setiap produk manusia ini bisa direvisi kalau ditemukan hal-hal yang tidak menggairahkan atau kurang menggairahkan investasi," kata Arcandra, Selasa (22/8)

Arcandra berharap revisi Peraturan Menteri nomor 8/2017 tersebut bisa segera selesai dan diterbitkan.

"Insya Allah dalam waktu dekat," katanya.

Sebagai gambaran, melalui skema gross split, pemerintah memberikan bagi hasil di awal alias base split lebih besar bagi kontraktor. Yaitu base split untuk gas bagian kontraktor 48%, sementara pemerintah 52%.

Sedangkan base split minyak bagian kontraktor sebesar 43% dan pemerintah sebesar 57 %. Namun bagi hasil di awal ini sudah termasuk seluruh investasi dan biaya yang harus dikeluarkan kontraktor.

Pemerintah sudah tidak menerapkan lagi cost recovery. Oleh karena itu untuk mempermanis, pemerintah menyediakan tambahan split dari beberapa variabel

Dalam revisi tersebut pemerintah tidak hanya memberikan tambahan split (bagi hasil) sebesar 5% untuk Plan of Development (POD) pertama, tetapi juga akan memberikan tambahan split sebesar 5% dalam PoD kedua atau lanjutan. 

"Jika sudah ada dalam satu blok, kemudian ada PoD baru. Lapangan baru ini dalam satu blok, kalau tidak diberi insentif, apakah mau tidak mengembangkan? Nah sekarang kami beri POD kedua juga insentif," kata Arcandra.

Penambahan split dalam PoD kedua berdasarkan pada saran KKKS yang menilai aturan gross split dibuat hanya berdasarkan data dari lapangan-lapangan eksisting, bukan dihitung dari lapangan mulai dieksplorasi. Selain itu, KKKS merasa, dalam melakukan kegiatan eksplorasi tidak ada insentif yang diberikan pemerintah.

Selain itu, Arcandra juga bilang pemerintah akan membuat Net Present Value (NVP) dan Rate Of Return (ROR) yang sama atau bahkan lebih besar dari skema kontrak bagi hasil alias Product Sharing Contract NPV sama dengan PSC cost recovery. 

"Sebelum kami launching, kami undang KKKS yang mengambil bid round, kami diskusi," ujarnya. 

Pemerintah akan memberikan lebih banyak variabel untuk tambahan split. Sementara itu untuk variabel yang telah ada saat ini dan progresif split juga akan ditambahkan dari jumlah bagi hasilnya.

Direktur Eksekutif Indonesian Petroleum Association (IPA), Marjolijn Wahjong mengatakan, IPA pada dasarnya meminta agar fiscal term yang diberikan bisa menaikkan tingkat kompetisi Indonesia untuk menarik investment untuk industri minyak bumi dan gas ke Indonesia.

Pengamat Energi dari Universitas Gadjah Mada Fahmi Radhi menyatakan, subtansi gross split sudah benar dan tidak perlu direvisi Iagi. Revisi lebih pada kewajiban penerapannya. Di awal penerapannya tidak harus diwajibkan sebagai pengganti cost recovery, tetapi sebagai pelengkap.

"Kontraktor diberikan opsi memilih gross split atau cost recovery selama lima tahun," kata dia.

Ia tak yakin penambahan base split merangsang kontraktor untuk investasi di migas. 

"Kontraktor sudah mersa nyaman dengan PSC cost recovery, tiba-tiba diharuskaan menggunakan gross split," kata dia.

Kontan, Page-18, Wednesday, August 23, 2017