HOT-COLD OF OIL AND GAS REGULATION

The Ministry of Energy finally revised the rules on gross splits. Oil and gas contractors protested through many doors, including asking for help from the Bimasena Forum.

     In contrast to previous meetings, Friday's forum last week looked relaxed. Interspersed with laughter, Deputy Minister of Energy and Mineral Resources Arcandra Tahar discloses the core changes of Minister of Energy and Mineral Resources Regulation No. 08 of 2017 on Gross Split Distribution Contract.

"We got a lot of positive and negative feedback," said Arcandra to open the socialization of the revised rule at the Ministry's office

Energy, last Friday.

Arcandra mixes Indonesian with English. Some invited guests are the bosses of foreign oil and gas companies operating in Indonesia. One of them is Christina Verchere, Regional President of Asia-Pacific British Petroleum who is also the President of the Indonesian Petroleum Association (IPA).

The exacerbation of tension between Arcandra and representatives of oil and gas companies was not apparent at the meeting. In fact, since Ministerial Regulation No. 08 of 2017 came out earlier this year, a number of oil and gas companies incorporated in the IPA not yet comfortable with the regulation.

When opening the IPA Convention and Exhibition in May, for example, Christina Verchere said oil and gas contractors have not yet gained the knowledge of profit sharing for contractors in the new scheme. Without a favorable share, IPA considers contractors difficult to expand exploration and drilling, especially for new wells.

In the new scheme, the percentage of profit sharing that contracted 43 percent for petroleum and 48 percent for natural gas. The contractor may obtain additional revenue sharing from variable and progressive components. But the government no longer has the responsibility to reimburse the contractor's operating costs in the previous cost recovery scheme. This clause forces the smart contractor to manage the operating costs.

The peak of the debate between the Ministry of Energy and Mineral Resources and the upstream oil and gas industry occurred on Friday afternoon, August 11 last. An official at the Energy Ministry said Arcandra had the hassle of serving the oil company's representatives of gross split in a meeting initiated by Forum Bimasena at Bimasena Building, Dharmawangsa Street, South Jakarta. New Order Energy Minister, Subroto, was the founder of the association.

Minister of Energy and Mineral Resources Ignasiusjonan said, a few days before the meeting at Graha Bimasena, Subroto met him. Subroto has a letter. The issue: invites the Ministry of Energy and Mineral Resources to discuss the rules of gross split.

"At that time I said, Okay, Mr. Arcandra will come '," said Jonan, last Thursday, at his office in Jakarta.

Former Pertamina President Director Ari Soemarno said the letter that Subroto brought contained the Bimasena Forum's concerns over the gross split rule. According to Ari, many oil and gas companies joined in IPA complained to the association.

"Mr. Arcandra is the ultimate presentation," Ari said at his office in Jakarta last Wednesday. Ari participated in the meeting.

IPA Executive Director Marjolijn Wajong acknowledged his association asking for help from the Bimasena Forum to discuss gross split rules with the Ministry of Energy. According to him, IPA and Forum Bimasena often help each other in many issues.

"If our level, meet not with the President, but with him in the Forum Birnasena," said Marjolijn in the office

Ministry of Energy, last Friday.

An Energy Ministry official who knew the meeting at Graha Bimasena said Ari was among the angry at Arcandra Tahar. He criticized government policies that shifted from the cost recovery regime to the gross split. Asked for confirmation about this, Jonan replied diplomatically, "Mr. Arcandra just said a lot of protesting at the time."

The official also said there was a group that wanted to maintain a cost recovery scheme. In fact, according to Jonan, one of the main reasons the government implemented the gross split scheme is that there are many holes or loopholes in the previous regime. Based on the ministry's findings, about 70 percent of contractors actually rely on the cost recovery cost of the government every year. Over the past two years, the government has spent more cost recovery than non-tax state revenues from the oil and gas sector.

"That's what I want to avoid," he said. "Yes, use the gross split."

The application of gross split also refers to the annual findings of the Supreme Audit Board. In the BPI investigative audit (in fiscal year 2015, for example, there was an indication of a "mark-up" of claims of operating costs by contractors amounting to US $ 290.34 million or equivalent to Rp 3.9 trillion.Before 2014, according to BPK, up "is still below Rp 1 trillion and consistently above Rp 3 trillion.

"Cost recovery is the people who bear," said Jonan. "These findings make a headache every year."

Ari Soemarno denied if called as one of the actors who want to return the regime of oil and gas sharing contracts to the cost recovery scheme.

"At first I did not want to talk, but forced friends," said Ari. "I just say: Why is the result of the consultant and contractor count different from the government?" But he acknowledged, in addition to the IPA, many small contractors are complaining soa ross split.

Ten days after the meeting at Graha Bimasena, it was the Energy Ministry's turn to invite IPA. Most of the oil and gas contractor bosses came. One of them is Director of PT Pertamina Hulu Energi, a subsidiary of Pertamina, which takes care of the company's upstream business. Mount Sardjono Hadi. During the meeting, said Gunung, the Ministry of Energy revealed a revised plan of gross split.

The new regulation was officially revised and signed by Minister Ignatius Jonan on Tuesday two weeks ago. Ten days later, it was Vice Minister Arcandra Tahar's turn to socialize it. Fundamental changes occur in additional revenue-sharing variable and progressive as well as the Energy Minister's discretion to increase profit sharing for contractors. The basis of the percentage of fixed profit sharing.

Previously, for production of less than 1 million barrels of oil equivalent, the contractor would only get a 5 percent revenue share. Now an additional share for contractors whose production is less than 30 million barrels of oil equivalent to 10 percent. While the previous contractor had received only 2 percent for new frontiers offshore and inland, it is now additionally for the remote field on the mainland getting an additional 4 percent.

"But not all inputs can be accommodated," said Arcandra.

For the discretionary clause, the minister can add the split without limitation until the contractor gets the economic value, which was previously a maximum of 5 percent. The Energy Ministry first gathers oil and gas contractors to discuss the gross split scheme in mid-December 2016.

In the meeting in Bali, according to Mount Sarjono Hadi, gross split became one of the four issues discussed by the Ministry.

"We were given two weeks to give input," said Mount Sardjono Hadi.

A month after that, the gross split rule was issued. A week after the publication rules, Pertamina signed a contract for the gross split for Offshore North Westjava (ONWJ) field which is valid until 18th of 2037. ONWJ and Pertamina were listed as the first field and contractor to use the revenue-sharing scheme.

"Incidentally the gross split scheme for ONWJ is good for us," said Gunung Sarjono.

Total profit sharing received by Pertamina after taking into account several variables and progressive items of 73.5 percent for oil and 81 percent for natural gas. Gunung Sarjono admits, unlike most private and foreign contractors, Pertamina's position is somewhat unique in the gross split scheme.

"We were playing on two legs," said Mount. "As a corporation, we make a profit. But, as SOEs, we also have to support government programs. "

Therefore, according to Gunung, when the contractors who are members of IPA rollicking protest gross split, Pertamina take the opposite path. Ministry of Energy is open with inputs. According to Mount, a few days after the Ministry of Energy summoned all contractors on Aug. 21 to present its revised gross split plan, Arcandra Tahar immediately phoned.

"Nung, it's okay the revision," said Mount same the phrase Arcandra at the end of the phone, late August.

Minister Jonan acknowledged there was an element of negotiation in issuing the gross split rule.

"If I give a big direct share to the contractor, blame again," he said.

According to jonan, the contractor's complaint about the small-scaled profit sharing in the gross split scheme also reached the President's ear Joko Widodo. "The President has directed not to be too small."

The ministry then recalculates the fair share of results for the contractor or the government.

"Mr. Vice Minister who leads all the calculations," said Jonan. "After the revision, the contractor's share will not be less than the revenue share they receive now."

Jonan acknowledged the revision of the gross split rule which is now published into Minister of Energy and Mineral Resources Regulation No. 52 of 2017 was one of them due to complaints Forum Bimasena.

IN INDONESIA

PANAS-DINGIN REGULASI MIGAS

Kementerian Energi akhirnya merevisi aturan mengenai gross split. Kontraktor minyak dan gas memprotes melalui banyak pintu, termasuk meminta bantuan Forum Bimasena. 

    Berbeda dengan pertemuan sebelumnya, forum Jumat pekan lalu itu terlihat santai. Diselingi gelak tawa, Wakil Menteri Energi dan Sumber Daya Mineral Arcandra Tahar membeberkan inti perubahan Peraturan Menteri ESDM Nomor 08 Tahun 2017 tentang Kontrak Bagi Hasil Gross Split. 

”Kami mendapat banyak masukan positif dan negatif,” kata Arcandra membuka sosialisasi revisi aturan tersebut di kantor Kementerian

Energi, Jumat pekan lalu.

Arcandra mencampur bahasa Indonesia dengan Inggris. Sebagian tamu undangan adalah bos perusahaan minyak dan gas bumi luar negeri yang beroperasi di Indonesia. Salah satunya Christina Verchere, Regional President Asia-Pacific British Petroleum yang juga Presiden Asosiasi Minyak Bumi Indonesia (IPA).

Bekas ketegangan antara Arcandra dan perwakilan perusahaan migas tidak tampak pada pertemuan itu. Padahal, sejak Peraturan Menteri Nomor 08 Tahun 2017 keluar pada awal tahun ini, sejumlah perusahaan migas yang tergabung dalam IPA belum sreg dengan peraturan tersebut.

Saat membuka IPA Convention and Exhibition pada Mei lalu, misalnya, Christina Verchere menyebutkan kontraktor migas belum mendapat kepasiian soal bagi hasil yang menguntungkan bagi kontraktor dalam skema baru itu. Tanpa bagian yang menguntungkan, IPA menilai kontraktor sulit memperluas eksplorasi dan pengeboran, terutama untuk sumur-sumur baru. 

Dalam skema baru itu, persentase bagi hasil yang dikantongi kontraktor sebesar 43 persen untuk minyak bumi dan 48 persen untuk gas bumi. Kontraktor bisa mendapat tambahan bagi hasil dari komponen variabel dan progresif. Namun pemerintah tidak lagi punya tanggungan untuk mengganti biaya operasi yang dikeluarkan kontraktor dalam skema cost recovery sebelumnya. Klausul inilah yang memaksa kontraktor pintar-pintar mengatur biaya operasi.

Puncak perdebatan antara Kementerian ESDM dan pelaku industri hulu migas terjadi pada Jumat siang, 11 Agustus lalu. Seorang pejabat di Kementerian Energi mengatakan Arcandra sempat kerepotan meladeni keberatan perwakilan perusahaan minyak soal gross split dalam sebuah pertemuan yang diprakarsai Forum Bimasena di Gedung Bimasena, Jalan Dharmawangsa, Jakarta Selatan. Menteri Energi era Orde Baru, Subroto, adalah pendiri perkumpulan tersebut.

Menteri Energi dan Sumber Daya Mineral Ignasiusjonan mengatakan, beberapa hari sebelum pertemuan di Graha Bimasena, Subroto menemui dia. Subroto membawa seberkas surat. lsinya: mengajak Kementerian ESDM mendiskusikan aturan gross split.

”Waktu itu saya bilang, Oke, Pak Arcandra yang akan datang’,” ujar jonan, Kamis pekan lalu, di kantornya di Jakarta.

Mantan Direktur Utama Pertamina Ari Soemarno mengatakan surat yang dibawa Subroto itu berisi keprihatinan Forum Bimasena terhadap aturan gross split. Menurut Ari, banyak perusahaan migas yang tergabung dalam IPA mengadu ke perkumpulan itu. 

”Pak Arcandra yang akhirnya presentasi,” kata Ari di kantornya di Jakarta, Rabu pekan lalu. Ari ikut dalam pertemuan tersebut.

Direktur Eksekutif IPA Marjolijn Wajong mengakui asosiasinya meminta bantuan Forum Bimasena untuk membicarakan aturan gross split dengan Kementerian Energi. Menurut dia, IPA dan Forum Bimasena sering saling membantu dalam banyak isu. 

”Kalau level kami, bertemunya tidak dengan Presiden, tapi dengan beliau-beliau di Forum Birnasena,” ujar Marjolijn di kantor

Kementerian Energi, Jumat pekan lalu.

Seorang pejabat Kementerian Energi yang tahu pertemuan di Graha Bimasena itu mengatakan Ari termasuk salah satu yang marah-marah kepada Arcandra Tahar. Ia mengkritik kebijakan pemerintah yang beralih dari rezim cost recovery ke gross split. Dimintai konfirmasi soal ini, Jonan menjawab diplomatis, ”Pak Arcandra hanya bilang banyak yang memprotes saat itu.”

Pejabat tadi juga mengatakan ada kelompok yang ingin mempertahankan skema cost recovery. Padahal, menurut Jonan, salah satu alasan utama pemerintah menerapkan skema gross split adalah ada banyak lubang atau celah dalam rezim sebelumnya. Berdasarkan temuan Kementerian, sekitar 70 persen kontraktor justru menggantungkan hidupnya pada biaya cost recovery yang dikeluarkan pemerintah setiap tahun. Selama dua tahun terakhir, pemerintah mengeluarkan lebih banyak cost recovery dibanding pendapatan negara bukan pajak dari sektor migas. 

”Itu yang hendak saya hindari,” katanya. ”Ya sudah, pakai gross split saja.”

Penerapan gross split juga mengacu pada temuan tahunan Badan Pemeriksa Keuangan. Dalam audit investigasi BPI( pada tahun anggaran 2015, misalnya, ada indikasi "mark-up" klaim biaya operasi oleh kontraktor sebesar US$ 290,34 juta atau setara dengan Rp 3,9 triliun. Sebelum 2014, menurut BPK, indikasi "mark-up" masih di bawah Rp 1 triliun. Setelah itu, konsisten di atas Rp 3 triliun. 

”Cost recovery itu rakyat yang menanggung,” ujar Jonan. ”Temuan-temuan ini membikin pusing tiap tahun.”

Ari Soemarno membantah jika disebut sebagai salah satu aktor yang ingin mengembalikan rezim kontrak bagi hasil migas ke skema cost recovery. 

”Tadinya saua tidak mau bicara, tapi dipaksa teman,” tutur Ari . ”Saya hanya bilang: Mengapa Hasil hitungan konsultan dan kontraktor beda dengan pemerintah?” Tapi dia mengakui, selain IPA, banyak kontraktor kecil yang mengeluh soa ross split.

Sepuluh hari seusai pertemuan di Graha Bimasena, giliran Kementerian Energi mengundang IPA. Sebagian besar bos kontraktor migas datang. Salah satunya Direktur PT Pertamina Hulu Energi, anak usaha Pertamina yang mengurus bisnis hulu perseroan-R. Gunung Sardjono Hadi.  Dalam pertemuan itu, kata Gunung, Kementerian Energi mengungkapkan rencana revisi aturan gross split.

Peraturan baru resmi direvisi dan diteken Menteri Ignasius Jonan pada Selasa dua pekan lalu. Sepuluh hari kemudian, giliran Wakil Menteri Arcandra Tahar yang mensosialisasinya. Perubahan mendasar terjadi pada tambahan bagi hasil variabel dan progresif serta diskresi Menteri Energi untuk menambah bagi hasil buat kontraktor.  Adapun dasar persentase bagi hasil tetap.

Sebelumnya, untuk produksi kurang dari 1 juta barel ekuivalen minyak, kontraktor hanya mendapat tambahan bagi hasil 5 persen. Kini tambahan bagi hasil kontraktor yang produksinya kurang dari 30 juta barel ekuivalen minyak menjadi 10 persen. Sementara sebelumnya kontraktor hanya mendapat tambahan 2 persen untuk lapangan baru (new frontier) di lepas pantai dan daratan, kini tambahan untuk lapangan terpencil di daratan memperoleh tambahan 4 persen. 

”Tapi tidak semua masukan bisa diakomodasi,” ucap Arcandra. 

Untuk klausul diskresi, menteri bisa menambah split tanpa batasan sampai kontraktor mendapat nilai keekonomian, yang sebelumnya maksimal 5 persen. Kementerian Energi pertama kali mengumpulkan kontraktor migas untuk membahas skema gross split pada pertengahan Desember 2016. 

Dalam pertemuan di Bali itu, menurut Gunung Sarjono Hadi, gross split menjadi salah satu bahasan dari empat isu yang dibawa Kementerian. 

”Kami diberi waktu dua minggu untuk memberi masukan,” kata Gunung Sardjono Hadi. 

Sebulan setelah itu, aturan gross split diterbitkan. Sepekan setelah aturan terbit, Pertamina menandatangani kontrak bagi hasil gross split untuk lapangan Offshore North Westjava (ONWJ) yang berlaku sampai 18]anuari 2037. ONWJ dan Pertamina tercatat sebagai lapangan dan kontraktor pertama yang menggunakan skema bagi hasil itu. 

”Kebetulan skema gross split untuk ONWJ bagus buat kami,” ujar Gunung Sarjono.

Total bagi hasil yang diterima Pertamina setelah memperhitungkan beberapa variabel dan item progresif sebesar 73,5 persen untuk minyak dan 81 persen untuk gas bumi. Gunung Sarjono mengakui, berbeda dengan sebagian besar kontraktor swasta dan asing,

posisi Pertamina agak unik dalam skema gross split. 

”Kami itu bermain di dua kaki,” kata Gunung. ”Sebagai korporasi, kami mencari untung. Tapi, sebagai BUMN, kami juga harus mendukung program pemerintah.” 

Oleh karena itu menurut Gunung, ketika kontraktor yang tergabung dalam IPA beramai-ramai memprotes gross split, Pertamina mengambil jalan berlawanan. Kementerian Energi terbuka dengan berbagai masukan. Menurut Gunung, beberapa hari setelah Kementerian Energi memanggil semua kontraktor pada 21 Agustus lalu untuk memaparkan rencana revisi gross split, Arcandra Tahar langsung meneleponnya.

”Nung, sudah beres ya revisinya,” ujar Gunung menirukan kalimat Arcandra di ujung telepon, akhir Agustus lalu.

Menteri Jonan mengakui ada unsur negosiasi dalam penerbitan aturan gross split.

”Kalau saya beri bagi hasil langsung besar ke kontraktor, disalahkan lagi,” katanya. 

Menurut jonan, keluhan kontraktor soal bagi hasil yang dinilai kecil dalam skema gross split ini juga sampai ke telinga Presiden

Joko Widodo. ”Presiden mengarahkan jangan diberi terlalu kecil.”

Kementerian kemudian menghitung ulang bagi hasil yang dirasa adil bagi kontraktor ataupun pemerintah. 

”Pak Wakil Menteri yang memimpin semua perhitungan,” ujar Jonan. ”Setelah revisi, bagian kontraktor tidak akan lebih kecil dari bagi hasil yang mereka terima sekarang.” 

Jonan mengakui revisi aturan gross split yang kini terbit menjadi Peraturan Menteri ESDM Nomor 52 Tahun 2017 itu salah satunya karena keluhan Forum Bimasena.

Majalah Tempo, Page 76-78, Sept 17, 2017

Pertamina Supplying LNG Needs Bangladesh

Indonesia and Bangladesh to cooperate on the sale of natural liquefied natural gas (LNG). Later PT Pertamina will supply LNG for the needs of two units of Floating Storage Regasification Unit (FSRU) with a capacity of 1,000 mmscfd through Petrobangla. The LNG will be used for power plants in the country.

ESDM Minister Ignatius Jonan said that this cooperation is the first time for Pertamina to supply LNG to other countries. Although this cooperation was opened through intergovernmental cooperation, LNG trading still considers the scale of business.

"Business cooperation based on commercial value in accordance with good relations between the two countries," said Jonan after signing a cooperation with Minister of Power, Energy and Mineral Resources of Bangladesh in the Office of the Ministry of Energy and Mineral Resources, Friday (15/9).

Gas Director of Pertamina Yenni Andayani said that Pertamina's initiative of cooperation is intended to develop the gas infrastructure business or LNG to South and Southeast Asia market such as Bangladesh, Pakistan, India, Philippines and Myanmar.

"Pertamina has submitted an Expression of Interest (EOI) or an integrated proposal of LNG to power to the Minister of Energy Bangladesh August 31, 2017, "he said.

Pertamina, has also initiated to form a consortium with international partners and local Bangladeshi partners.

"The consortium is currently preparing an unsolited electricity solution proposal which is an integrated project from starting LNG supply to supplying electricity to the Government of Bangladesh," Yenni said.

Yenni said the consideration of expanding the business to Bangladesh is to develop new markets outside of Pertamina's traditional markets namely Japan, South Korea and Taiwan.

Nasrul Hamid Minister of Power, Energy and Mineral Resources of Bangladesh declared cooperation with Indonesia through Pertamina is very important, because Bangladesh needs supply of LNG. Because their LNG reserves are running low due to the drop in LNG production. Bangladesh is currently building two FSRU facilities. The purchase of gas from Pertamina is needed to supply the FSRU requirement when completed in 2018.

"We are currently finalizing the construction of two FSRU infrastructure with a capacity of 1,000 mmscfd," he said.

Most of the LNG supply from Pertamina will be used to meet the needs of power plants in Bangladesh.

"We are building a 24,000 MW power plant in 2021 and 40,000 MW by 2031," explained Nasrul Hamid.

IN INDONESIA

Pertamina Memasok Kebutuhan LNG Bangladesh

Indonesia dan Bangladesh bekerjasama jual-beli gas alam cair atau liquefied natural gas (LNG). Nantinya PT Pertamina akan memasok LNG untuk kebutuhan dua unit Floating Storage Regasification Unit (FSRU) berkapasitas 1.000 mmscfd melalui Petrobangla. LNG itu akan digunakan untuk pembangkit listrik di negara itu.

Menteri ESDM Ignasius Jonan menyebut, kerjasama ini merupakan kali pertama bagi Pertamina untuk memasok LNG ke negara lain. Meskipun kerjasama ini dibuka melalui kerjasama antar pemerintahan, jual beli LNG tetap mempertimbangkan tingkat skala bisnis.

"Kerjasama bisnis berdasarkan nilai komersial sesuai dengan hubungan baik antara kedua negara," kata Jonan usai meneken kerjasama dengan Menteri Power, Energi, dan Sumber Daya Mineral Bangladesh di Kantor Kementerian ESDM, Jumat (15/9).

Direktur Gas Pertamina Yenni Andayani bilang, inisiasi kerjasama sebenarnya dilakukan Pertamina yang berkeinginan mengembangkan bisnis infrastruktur gas atau LNG ke pasar Asia Selatan dan Asia Tenggara antara lain Bangladesh, Pakistan, India, Filipina, dan Myanmar. 

"Pertamina telah menyampaikan expression of interest (EOI) atau proposal integrated LNG to power kepada Menteri Energi Bangladesh 31 Agustus 2017," ujarnya.

Pertamina, juga telah berinisiatif membentuk konsorsium dengan mitra internasional dan mitra lokal Bangladesh. 

"Konsorsium saat ini sedang menyiapkan proposal unsolited electricity solution yang merupakan proyek terintegrasi dari mulai pasokan LNG sampai dengan penyediaan listrik ke Pemerintah Bangladesh," kata Yenni.

Yenni bilang, pertimbangan melakukan ekspansi bisnis ke Bangladesh adalah untuk mengembangkan pasar baru di luar pasar tradisional Pertamina yaitu Jepang, Korea Selatan, dan Taiwan.

Nasrul Hamid Menteri Power, Energi dan Sumber Daya Mineral Bangladesh menyatakan kerjasama dengan Indonesia melalui Pertamina sangat penting, karena Bangladesh butuh pasokan LNG. Karena cadangan LNG mereka menipis seiring dengan anjloknya produksi LNG. Bangladesh saat ini sedang membangun dua fasilitas FSRU. Pembelian gas dari Pertamina dibutuhkan untuk memasok kebutuhan FSRU tersebut saat rampung pada 2018 mendatang. 

"Saat ini kami sedang finalisasi pembangunan infrastruktur dua FSRU berkapasitas 1.000 mmscfd," ungkapnya.

     Sebagian besar pasokan LNG dari Pertamina akan digunakan untuk memenuhi kebutuhan pembangkit listrik di Bangladesh. 

"Kami sedang membangun  pembangkit listrik 24.000 MW pada 2021 dan 40.000 MW di tahun 2031," terang Nasrul Hamid.

Kontan, Page-14, Saturday, Sept 16, 2017

PT Pertamina Ready to Meet Bangladesh's LNG Needs

PT Pertamina will export liquefied natural gas or liquified natural gas to Bangladesh via Petrobangla as a follow up to energy cooperation between the two countries. ESDM Minister Ignatius Jonan said that despite being a part of the cooperation between the two countries, the export-import activities of liquified natural gas (LNG) are still paying attention to the economy from the business side.

"Of course business cooperation based on commercial value in accordance with good relations between the two countries," he said at the signing ceremony of memorandum of understanding (MOU) cooperation in the field of energy Indonesia-Bangladesh in the Ministry of Energy and Mineral Resources, Friday (15/9).

On the same occasion, Minister of State Electricity, Energy and Mineral Resources of Bangladesh Nasrul Hamid stated, cooperation with Indonesia through Pertamina is very important. The reason, Bangladesh is in need of additional LNG from abroad. Later, most of the LNG supply will be used for power plants in Bangladesh.

"We are building a 24,000 MW power plant in 2021 and 40,000 MW by 2031," he said.

He explained that the country will suffer a gas deficit in 2018 of about 1 million tons per year and will increase to about 11 million tons per year by 2030. In fact, it is being intensively in the development of industrial sectors that require enormous electricity supply.

"We see a good opportunity to use LNG into electricity, let alone the price can compete with coal. In addition, gas is better for the environment than coal, "he said.

Meanwhile, Pertamina Gas Director Yenni Andayani said it would not only supply gas from Bangladesh through Petrobangla, but also prepare various supporting infrastructure to convert gas into electricity.

"The inter-ministerial signing offered us LNG to power cooperation," he said. Later, Pertamina will submit the task of developing the infrastructure to the subsidiary of the state-owned company.

"Who will do the undetermined work is still very open," he said.

President Director of Petrobangla Abul Mansur Md Faizullah explained there is no certainty how much LNG needed from Pertamina. However, Petrobangla hopes to get a supply of 1 million tons per year at the beginning stage. The gas requirement in Bangladesh is expected to increase to around 7 million tons per year by 2018.

He expects the supply from Pertamina to start next year, to coincide with the completion of two FSRU facilities in April and October 2018.

IN INDONESIA

PT Pertamina Siap Penuhi Kebutuhan LNG Bangladesh

PT Pertamina akan mengekspor gas alam cair atau liquified natural gas ke Bangladesh lewat Petrobangla sebagai tindak lanjut atas kerja sama di bidang energi antar kedua negara. Menteri ESDM Ignasius Jonan mengatakan meskipun menjadi bagian kerja sama pemerintah kedua negara kegiatan ekspor-impor liquified natural gas (LNG) tersebut tetap memperhatikan keekonomian dari sisi bisnis.

“Tentu kerja sama bisnis berdasarkan nilai komersial sesuai dengan hubungan baik antara kedua negara," ujarnya dalam acara penandatanganan nota kesepahaman bersama (memorandum of understanding/MOU) kerja sama di bidang energi Indonesia-Bangladesh di Kementerian ESDM, Jumat (15/9).

Dalam kesempatan yang sama, Menteri Negara Listrik, Energi, dan Sumber Daya Mineral Bangladesh Nasrul Hamid menyatakan, kerja sama dengan Indonesia melalui Pertamina sangat penting. Alasannya, Bangladesh sedang membutuhkan tambahan LNG dari luar negeri. Nantinya, sebagian besar pasokan LNG tersebut akan dipakai untuk pembangkit listrik di Bangladesh. 

“Kami sedang membangun pembangkit listrik dengan kapasitas 24.000 MW pada 2021 dan 40.000 MW di tahun 2031,” tuturnya.

Dia menjelaskan, negaranya akan mengalami defisit gas pada 2018 sekitar 1 juta ton per tahun dan akan meningkat menjadi sekitar 11 juta ton per tahun pada 2030. Padahal, pihaknya sedang gencar dalam pengembangan sektor industri yang membutuhkan pasokan listrik sangat besar.

“Kami melihat peluang bagus menggunakan LNG menjadi listrik, apalagi harganya bisa bersaing dengan batu bara. Selain itu, gas lebih bagus dampaknya bagi lingkungan daripada batu bara,” tuturnya.

Sementara itu, Direktur Gas Pertamina Yenni Andayani menyatakan pihaknya tidak hanya akan memasok kebutuhan gas dari Bangladesh melalui Petrobangla, tetapi juga menyiapkan berbagai infrastruktur pendukung untuk mengubah gas menjadi tenaga listrik.

“Penandatanganan antar menteri tadi menawarkan kami kerja sama LNG to power,” ujarnya. Nantinya, Pertamina akan menyerahkan tugas pengembangan infrastruktur tersebut kepada anak usaha perusahaan BUMN itu. 

“Siapa yang akan mengerjakan belum ditentukan masih sangat terbuka,” tuturnya.

Direktur Utama Petrobangla Abul Mansur Md Faizullah menjelaskan belum ada kepastian berapa LNG yang dibutuhkan dari Pertamina. Namun, Petrobangla berharap bisa mendapatkan pasokan sebanyak 1 juta ton per tahun pada tahap permulaan. Kebutuhan gas di Bangladesh diperkirakan akan meningkat menjadi sekitar 7 juta ton per tahun pada 2018.

     Dia mengharapkan pasokan dari Pertamina bisa mulai diperoleh tahun depan, bertepatan dengan selesainya dua fasilitas FSRU pada April dan Oktober 2018.

Bisnis Indonesia, Page-9, Saturday, Sept 16, 2017

The Downstream Sector of Oil and Gas Is Still Tantalizing

The downstream sector of oil and gas in Indonesia is still attractive to investors despite its low investment realization with an average of US $ 1.73 billion per year. Meanwhile, the total realization of oil and gas investment reached US $ 18.18 billion per year. Based on data from Ministry of Energy and Mineral Resources, oil and gas investment in 2015 of US $ 17.95 billion consists of US $ 15.34 billion (upstream) and US $ 2.64 billion (downstream). Investments in 2016 fell to US $ 12.73 billion consisting of US $ 11.58 billion (upstream) and US $ 1.15 billion (downstream).

Then the realization of oil and gas investment in the first half of 2017 / US $ 3.43 billion consists of US $ 2.65 billion (upstream) and US $ 774.45 million (downstream). In fact, the government says Indonesia needs investment of up to US $ 30 billion to 2025 just to build gas infrastructure in midtsream and downstream This investment is needed to build gas pipeline along 27,273 kilometers, refineries and regasification facilities of liquefied natural gas (LNG), compressed natural gas (CNG) compression and regasification facilities, and SPBG.

Group Chief Economist BP Spencer Dale said that although the downstream investment realization in Indonesia has yet to show any significant contribution, this sector is still attractive to investors. The reason, the current trend of energy business globally changes. From the BP Statistical Review 2017, he calls the distribution of profits shifting from upstream to middle and downstream businesses.

According to him, the trend occurs because technology encourages increased supply of oil and natural gas. Thus, companies that have business lines in the field of production are beginning to look for ways to market and

opening access to buyers. Along with these trends, business actors who usually play in the upstream sector are now beginning to make the downstream sector as an investment field.

There will be many investment opportunities created in the midstream and downstream. This will happen in 10-15 years, "he said after presenting BP Statistical Review 2017 in Jakarta, Thursday (14/9).

Indonesia is supported by stable economic growth, high population and high growth of energy consumption. From BP Statistical Review 2017 data, Indonesia's fuel consumption volume in 2016 amounted to 1.61 million barrels per day (bpd) or grew 1.4% from 1.59 million bpd last year. For gas, natural gas consumption in Indonesia in 2016 fell 7% with volume 37.7 billion cubic meters and previous year 40.4 billion cubic meters.

As a oil and gas company, BP has also started to explore the midstream and downstream businesses in Indonesia. One of them, BP is expanding the LNG plant complex by adding Train-3. Not only that, BP also expanded its business to retail.

EFFICIENT YET

BP Statistical Review 2017 data recorded growth in energy consumption in Indonesia of 5.9% throughout 2016 or lower and economic growth in the second half / 2016 of 5.18% according to the Central Bureau of Statistics. The amount of energy consumption to drive the economy, according to him, is quite large.

This indicates the application of energy efficiency is still lacking. According to him, conditions will be better if the government can reverse the situation when greater economic growth and growth in energy consumption. Thus, the economy can grow with more efficient energy consumption.

"The economy can grow using lower energy consumption growth, it's good because it means you can be more economically efficient."

From the data indicate the downstream governance policy factors, one of which for natural gas affects the decline of investment. For example, at PT Perusahaan Gas Negara Tbk. which carried out infrastructure development in the period 2001-2008 with a compounded 8% compounded growth rate in 2009-2015 to 3%.

IN INDONESIA

Sektor Hilir Migas Masih Menggiurkan

Sektor hilir minyak dan gas bumi di Indonesia masih menarik bagi investor kendati realisasi investasinya masih rendah dengan rata-rata US$ 1,73 miliar per tahun. Sementara itu, rerata total realisasi investasi migas mencapai US$ 18,18 miliar per tahun. Berdasarkan data Kementenan ESDM, investasi migas pada 2015 sebesar US$ 17,95 miliar terdiri atas US$ 15,34 miliar (hulu) dan US$ 2,64 miliar (hilir). Investasi pada 2016 turun menjadi US$ 12,73 miliar terdiri atas US$ 11,58 miliar (hulu) dan US$ 1,15 miliar (hilir).

Kemudian realisasi investasi migas pada semester I/2017 US$ 3,43 miliar terdiri atas US$ 2,65 miliar (hulu) dan US$ 774,45 juta (hilir). Padahal, pemerintah menyebut Indonesia membutuhkan investasi hingga US$ 30 miliar sampai 2025 hanya untuk membangun infrastruktur gas di midtsream dan hilir Investasi ini dibutuhkan untuk membangun pipa gas sepanjang 27.273 kilometer, kilang dan fasilitas regasifikasi gas alam cair (liquefied natural gas/LNG), fasilitas kompresi dan regasifikasi gas terkompresi (compressed natural gas/CNG), serta SPBG.

Group Chief Economist BP Spencer Dale mengatakan, kendati saat ini realisasi investasi sektor hilir di Indonesia belum menunjukkan kontribusi signifikan, sektor ini masih menarik bagi para penanam modal. Alasannya, saat ini tren bisnis energi secara global mengalami perubahan. Dari BP Statistical Review 2017, dia menyebut distribusi keuntungan bergeser dari bisnis hulu ke tingkat menengah dan hilir.

Menurutnya, kecenderungan tersebut terjadi karena teknologi mendorong meningkatnya pasokan minyak dan gas bumi. Dengan demikian, perusahaan yang memiliki lini bisnis di bidang produksi mulai mencari cara untuk memasarkan dan membuka akses kepada pembeli. Bersamaan dengan tren tersebut, pelaku usaha yang biasanya bermain di sektor hulu kini mulai menjadikan sektor hilir sebagai ladang investasi.

Akan ada banyak kesempatan investasi tercipta di midstream dan downstream. Ini akan terjadi dalam 10-15 tahun,” ujarnya usai memaparkan BP Statistical Review 2017 di Jakarta, Kamis (14/9).

Indonesia didukung dengan pertumbuhan ekonomi yang cukup stabil, tingginya jumlah penduduk dan tingginya pertumbuhan konsumsi energi. Dari data BP Statistical Review 2017, volume konsumsi BBM Indonesia pada 2016 sebesar 1,61 juta barel per hari (bph) atau tumbuh 1,4% dari tahun sebelumnya 1,59 juta bph. Untuk gas, konsumsi gas alam di Indonesia pada 2016 turun 7% dengan volume 37,7 miliar kubik meter dan tahun sebelumnya 40,4 miliar kubik meter.

Sebagai perusahaan migas, BP juga sudah mulai merambah bisnis midstream dan hilir di Indonesia. Salah satunya, BP mempeluas kompleks kilang LNG dengan menambah Train-3. Tak hanya itu, BP juga memperluas bisnisnya ke ritel.

BELUM EFISIEN

Data BP Statistical Review 2017 mencatat pertumbuhan konsumsi energi di Indonesia sebesar 5,9% sepanjang 2016 atau lebih rendah dan pertumbuhan ekonomi pada semester II/2016 sebesar 5,18% menurut Badan Pusat Statistik. Besarnya konsumsi energi untuk menggerakkan perekonomian, menurutnya, tergolong besar.

Hal ini menunjukkan penerapan efisiensi energi masih kurang. Menurutnya, kondisi akan lebih baik bila pemerintah bisa membalik keadaan ketika pertumbuhan ekonomi yang lebih besar dan pertumbuhan konsumsi energi. Dengan demikian, perekonomian bisa tumbuh dengan konsumsi energi yang lebih efisien.

“Perekonomian bisa tumbuh menggunakan pertumbuhan konsumsi energi yang lebih rendah, hal itu baik karena itu berarti Anda bisa menjadi lebih efisien secara ekonomi."

Dari data menunjukkan faktor kebijakan tata kelola sektor hilir, salah satunya untuk gas alam memengaruhi turunnya investasi. Sebagai contoh, pada PT Perusahaan Gas Negara Tbk. yang melakukan pembangunan infrastruktur pada periode 2001-2008 dengan laju pertumbuhan majemuk 8% tereduksi pada 2009-2015 menjadi 3%.

Bisnis Indonesia, Page-28, Friday, Sept 15, 2017

There are Seven Expired Contract Blocks Use Gross Split

PT Pertamina has calculated that oil and gas blocks terminated in 2018 are economically viable using a gross split scheme. Of the eight termination blocks, only one block is considered less economical, the East Kalimantan Block.

It is hoped that with the revised gross split rule, the economic level of the block termination can be even better. President Director of Pertamina Hulu Energi Gunung Sardjono, Hadi said that with the new gross split scheme, there will be additional revenue sharing between 6% to 7%.

In the simulation conducted by Pertamina, oil and gas shares obtained by contractors and net present value become better than before. Even Gunung Sarjono states, Pertamina calculation also has included elements of return on investment to be paid to the previous contractor. Unfortunately, Gunung Sardjono has not been able to mention the exact number of returns on investments in the termination blocks.

"Still waiting from SKK Migas about the final figures," said Gunung on Thursday (14/9).

In addition to return on investment; Mount also states, the calculation of the economic field has also included the cost of asset lease. The rental of this asset is paid by Pertamina to the Directorate General of State Assets (DJKN) of the Ministry of Finance.

 "Asset Lease has been issued by them to us, the calculation to be between 3% 5% multiplied fair value is discounted 70%" explained Gunung Sardjono.

IN INDONESIA

Ada Tujuh Blok Terminasi Layak Pakai Gross Split

PT Pertamina telah berhitung, blok-blok migas yang terminasi pada tahun 2018 sudah cukup ekonomis dengan menggunakan skema gross split. Dari delapan blok terminasi, hanya satu blok yang dianggap kurang ekonomis, yaitu Blok East Kalimantan. 

Diharapkan, dengan revisi aturan gross split, tingkat keekonomian blok terminasi bisa lebih baik lagi. Direktur Utama Pertamina Hulu Energi Gunung Sardjono Hadi megatakan dengan skema gross split yang baru akan ada tambahan bagi hasil antara 6% sampai 7%.

Dalam simulasi yang dilakukan oleh Pertamina, bagian migas yang didapatkan oleh kontraktor dan net present value menjadi lebih bagus dibandingkan sebelumnya. Bahkan Gunung menyatakan, perhitungan Pertamina juga sudah memasukan unsur pengembalian investasi yang akan dibayarkan kepada kontraktor sebelumnya. Sayangnya, Gunung Sardjono belum bisa menyebut angka pasti jumlah pengembalian investasi di blok-blok terminasi tersebut.

"Masih menunggu dari SKK Migas soal angka finalnya," kata Gunung pada Kamis (14/9).

Selain pengembalian investasi; Gunung Sarjono juga menyatakan, perhitungan keekonomian lapangan sudah memasukan juga biaya sewa aset. Sewa aset ini dibayarkan Pertamina ke Direktorat Jenderal Kekayaan Negara (DJKN) Kementerian Keuangan.

 "Sewa Aset itu sudah dikeluarkan oleh mereka kepada kami, hitungannya menjadi antara 3%5% dikalikan fair value yang didiskon 70%" jelas Gunung Sardjono.

Kontan, Page-18, Friday, Sept 15, 2017

Electric Car Has Not Become Oil Threat

The awareness of exploiting non-fossil energy is growing. Automotive manufacturers increasingly aggressively develop electric cars. Nevertheless, the use of fuel oil (BBM) will continue to grow, although electric cars will be present. Even the use of fuel still accounts grow up to 20 years ahead in developing countries like Indonesia.

In Indonesia, the government is drafting a Presidential Regulation on electric cars: the Ministry of Energy and Mineral Resources (ESDM) is also aggressively socializing the presence of electric cars. While from the side of PT Perusahaan Listrik Negara (PLN) provides support by moving quickly to build a charging infrastructure or charging station.

BP Group Chief Economist Spencer Dale said that currently world oil consumption reached 95 million barrels, only 20% or about 20 million used for cars.

"If tomorrow the whole world is full of electric cars, oil consumption is likely to remain," Dale said at the ESDM Ministry on Thursday (14/9).

Dale says, now in the world there are 1 billion cars and only 2 million which is an electric car. And the number of electric cars is likely to increase to 2 billion in the next 20 years. The growth in the number of electric cars comes from developing countries, due to increased welfare and government support.

"There is currently considerable subsidies for electric cars in many countries," Dale said.

The rise of electric cars is also due to social behavior. That is, people still buy electric cars though more expensive, because they care about the environment. There are also those who like new technology or so people think they are good people.

"Others, buying a car is an important investment after the house," he added.

With these various factors, there will be about 10 million electric cars by 2035. This growth is quite high. Even so, Dale believes, oil consumption is only about 1.5 barrels per day or only 1%.

"The impact on oil demand is not great," said Dale.

Especially in Indonesia, last year there has been an increase in energy consumption in Indonesia by 5.9%. And growth in energy consumption in Indonesia continues to increase, especially seeing the statistics of Indonesia's economic growth is predicted to remain at the rate of 5% in 5 years to 10 years.

However, energy consumption in member countries of the Organization for Economic Co-operation and Development (OECD) such as Australia, Germany, France, South Korea, the United Kingdom and the United States tend to fall.

"Oil demand from OECD countries declined in the last 10 years and will continue to decline in the future," said Dale.

    Fahmi Radhi Energy Observer of Gadjah Mada University (UGM) said that the government must develop renewable energy, including electric cars.

IN INDONESIA

Mobil Listrik Belum Menjadi Ancaman Minyak

Kesadaran memanfaatkan energi non-fosil kian membesar. Pabrikan otomotif semakin gencar mengembangkan mobil listrik. Kendati begitu, penggunaan bahan bakar minyak (BBM) akan terus tumbuh, meskipun mobil listrik akan hadir. Bahkan penggunaan BBM masih akun tumbuh hingga 20 tahun ke depan di negara berkembang seperti Indonesia.

Di Indonesia, pemerintah sedang menyusun Peraturan Presiden tentang mobil listrik: Kementerian Energi dan Sumber Daya Mineral (ESDM) juga gencar melakukan sosialisasi kehadiran mobil listrik. Sementara dari sisi PT Perusahaan Listrik Negara (PLN) memberikan dukungan dengan bergerak cepat membangun infrastruktur pengisian listrik atau charging station.

Kepala Ekonom BP Group Spencer Dale menyebutkan, saat ini konsumsi minyak masyarakat di dunia mencapai 95 juta barel, hanya 20% atau sekitar 20 juta yang digunakan untuk mobil. 

"Jika besok seluruh dunia penuh dengan mobil listrik, konsumsi minyak kemungkinan akan tetap," kata Dale di Kementerian ESDM, Kamis (14/9).

Dale menyebutkan, kini di dunia ada 1 miliar mobil dan hanya 2 juta yang merupakan mobil listrik. Dan jumlah mobil listrik kemungkinan meningkat hingga 2 miliar di 20 tahun ke depan. Pertumbuhan jumlah mobil listrik ini berasal dari negara berkembang, karena terjadi peningkatan kesejahteraan dan dukungan pemerintah.

"Saat ini ada subsidi yang cukup besar untuk mobil listrik di banyak negara" ujar Dale.

Maraknya mobil listrik juga karena adanya perilaku sosial. Yakni masyarakat tetap membeli mobil listrik meskipun lebih mahal, karena mereka peduli terhadap lingkungan. Ada juga mereka menyukai teknologi baru atau supaya orang berpikir mereka adalah orang yang baik. 

"Yang lain, membeli mobil adalah investasi penting setelah rumah," imbuhnya.

Dengan berbagai faktor tersebut, akan ada sekitar 10 juta mobil listrik pada tahun 2035. Ini pertumbuhan cukup tinggi. Biarpun begitu Dale yakin, konsumsi minyak hanya berkurang sekitar 1,5 barel per hari atau hanya 1%. 

"Dampak terhadap permintaan minyak tidak besar," tegas Dale.

Khusus di Indonesia, tahun lalu telah terjadi peningkatan konsumsi energi di Indonesia sebesar 5,9%. Dan pertumbuhan konsumsi energi di Indonesia terus meningkat terutama melihat statistik pertumbuhan ekonomi Indonesia yang diprediksi tetap berada di angka 5% dalam 5 tahun hingga 10 tahun mendatang.

Namun pemakaian energi di negara anggota Organisation for Economic Co-operation and Development (OECD) seperti Australia, Jerman, Prancis, Korea Selatan, Inggris, dan Amerika Serikat cenderung turun. 

"Permintaan minyak dari negara OECD menurun dalam 10 tahun terakhir dan akan terus menurun ke depan," jelas Dale. 

     Fahmi Radhi Pengamat Energi Universitas Gadjah Mada (UGM) bilang, pemerintah harus mengembangkan energi terbarukan, termasuk mobil listrik.

Kontan, Page-18, Friday, Sept 15, 2017

Oil Market moving back into balance : IEA

There are signs the global oil market is returning to balance and stocks of oil products in industrialised nations could soon fall below their five-year average, the International Energy Agency (IEA) said Wednesday

The IEA also said production by the Organization of the Petroleum Exporting Countries (OPEC) cartel and its allies fell in August and compliance with their pact to cut supply to the markets increased.

OPEC and a number of other producers including Russia agreed last year on production cuts to ease a global supply glut, but prices have not risen much above US$ 50 per barrel as compliance has been a problem. But with oil demand perking up as Well as hurricanes and regular summer maintenance knocking out some production, the IEA said it has seen some of that glut disappear.

Within industrialised countries that are members of the Organization of Economic Cooperation and Development (OECD) oil “product stocks are now only 35 mb above the live-year average," the IEA said in its monthly report. 

Industry and government oil products stocks stood at 1,796.3 million barrels in July in the 34 countries that make up the OECD . 

"Depending on the pace of recovery for the US refining industry post-(Hurricane) Harvey, very soon OECD product stocks could fall to, or even below, the five-year level,” added the IEA.

“Based on recent bets made by investors, expectations are that markets are tightening and that prices will rise, albeit very modestly.”

Looking at recent developments in the oil futures markets, the IEA called them “a sign that oil markets have started to rebalance.” 

On Tuesday OPEC, in its monthly report, also pointed to a decline in its production in August as a sign that supply and demand could be moving further toward balance. “

“It is clear that the rebalancing process is under way, supported by the high conformity levels of OPEC member countries and participating non-OPEC countries to the production adjustments” in the cooperation agreement, OPEC secretary general Sanusi Barkindo said in an speech in Oxford on Monday.

The IEA said OPEC crude production tell in August for the first time In five months, thanks to both cuts in production as well as a flare-up in turmoil in Libya disrupting output. Compliance with agreed production cuts among the 12 members bound by the pact rose to 82 percent from 75 percent in July.

The 10 non-OPEC producers that are part of the supply cut pact also cut production by 270,000 barrels per day in August from July, and their output is now 640,000 barrels per day their pledged level.

The IEA the impact of Hurricane Harvey, which  truck the United States Gulf Coast at the end of August where significant US refinery and export , Operations are concentrated on oil markets should he brief.

As far as Harvey is concerned, disruption to local oil markets in the US Gulf Coast is easing on a daily basis and its impact on global markets is likely to be relatively short-lived,” said the agency which advises the OECD on energy markets.

The IEA also raised its forecast for growth in global oil demand after thirst for crude “grew very strongly year-on-year” in the second quarter of this year.

lt now sees global oil demand increasing by 1.6 million barrels per day, to 97.7 mbd on average in 2017, thanks to brisk consumption in Europe and the US.

Oil prices rose after the report was published, with Brent crude adding 10 cents to $ 54.37 per barrel uround 08:20 GMT.

Jakarta Post, Page-21, Thursday, Sept 14, 2017