Pertamina Owns ExxonMobil's Ownership in Jambaran

PT Pertamina took ExxonMobil's share of ownership in Jambaran Field, Cepu Block by 41.4%. Thus, Pertamina becomes the majority owner of the Jambaran-Tiung Biru Project targeted on stream in the final quarter of 2020.

President Director of PT Pertamina EP Cepu Adriansyah said the company and ExxonMobil have agreed on a permanent sole risk scheme in developing the Jambaran-Tiung Biru Project. That is, Pertamina took over the ownership of ExxonMobil in Lapangan Jambaran. Instead, ExxonMobil no longer holds any rights to anything in the project.

"We with ExxonMobil have not finalized the final agreement yet, just less final wording in the agreement," he said

Previously, Pertamina and ExxonMobil each had 41.4% ownership, while BUMD 9.5% and PT Pertamina EP 8%. Once the transfer is complete, Pertamina will be holding the majority share of 82.5%. While the share of ownership of other partners has not changed.

However, Adriansyah emphasized, ExxonMobil retains the participating interest (PI) in Cepu Block. The change of ownership portion in Jambaran did not affect the amount of Pertamina and ExxonMobil's PI in Cepu Block. The Jambaran field also remains part of the Cepu Block.

"So this is not a transfer of PI, because the PI is for the whole block. Only ExxonMobil's right in Jambaran we take over, "he said.

Although not a takeover of the rights of participation, does not mean the company acquired ExxonMobil's share of ownership in Jambaran for free.

"There is compensation for the past cost and future value of the project," he said. Unfortunately, he was reluctant to disclose the cost of the company.

Earlier, Deputy Minister of Energy and Resources (ESDM) Arcandra tahar said, ExxonMobil has declared not continue to work on the Project Jambaran-Tiung Biru. Because the economy of this project does not match the calculation of oil and gas companies from the United States. Thus, EXxonMobil is willing to release its rights in Lapangan Jambaran,

"ExxonMobil saw this [Project Jambaran-Tiung Biru] national project and would like to help, so it would b to b (business to business) with Pertamina," he said.

The Jambaran-Tiung Biru project itself is the unitization of two fields of different blocks. The Jambaran field is included in the Cepu Block Working Area where Pertamina and ExxonMobil share the right of participation. While Tiung Biru field entered PT Pertamina EP area. Although the written agreement about permanent sole risk has not been completed yet, Adriansyah said, ground breaking of Jambaran-Tiung Biru Project will still be done today (25/9).

Moreover, his side has started the construction of wells and roads. Not only that, engineering work (engineering) has also been done.

"We are ready to drill two wells next year," he said.

IN INDONESIA

Pertamina Kuasai Porsi Kepemilikan ExxonMobil di Jambaran

PT Pertamina mengambil porsi kepemilikan ExxonMobil dl Lapangan Jambaran, Blok Cepu sebesar 41,4%. Sehingga, Pertamina menjadi pemegang hak mayoritas Proyek Jambaran-Tiung Biru yang ditargetkan on stream pada kuartal akhir 2020.

Presiden Direktur PT Pertamina EP Cepu Adriansyah mengatakan, perseroan dan ExxonMobil telah menyepakati skema permanent sole risk dalam pengembangan Proyek Jambaran-Tiung Biru. Artinya, Pertamina mengambil alih porsi kepemilikan ExxonMobil di Lapangan Jambaran. Sebaliknya, ExxonMobil tidak lagi memegang hak atas apapun di proyek.

“Kami dengan ExxonMobil belum selesai final agreement-nya, hanya kurang final wording di agreement-nya,” kata dia 

Sebelumnya, Pertamina dan ExxonMobil masing-masing memiliki porsi kepemilikan 41,4%, sementara BUMD 9,5% dan PT Pertamina EP 8%. Begitu pengalihan selesai, Pertamina disebutnya akan memegang porsi kepemilikan mayoritas, yakni 82,5%. Sementara porsi kepemilikan mitra lainnya tidak berubah.

Namun, Adriansyah menekankan, ExxonMobil tetap memegang hak partisipasi (participating interest/PI) di Blok Cepu. Perubahan porsi kepemilikan di Jambaran tidak mempengaruhi besaran PI Pertamina dan ExxonMobil di Blok Cepu. Lapangan Jambaran juga tetap masih menjadi bagian dari Blok Cepu.

“Jadi ini bukan pengalihan PI, karena PI itu untuk seluruh blok. Hanya hak ExxonMobil di Jambaran yang kami ambil alih,” tegasnya.

Meski bukan pengambilalihan hak partisipasi, bukan berarti perseroan memperoleh porsi kepemilikan ExxonMobil di Jambaran secara gratis.

“Ada kompensasi untuk past cost dan future value dari project,” ujarnya. Sayangnya, dia enggan mengungkapkan berapa biaya yang dikeluarkan perseroan.

Sebelumnya, Wakil Menteri Energi dan Sumber Daya   (ESDM) Arcandra tahar mengatakan, ExxonMobil telah menyatakan tidak melanjutkan ikut menggarap Proyek Jambaran-Tiung Biru. Pasalnya, keekonomian proyek ini tidak cocok dengan hitungan perusahaan migas asal Amerika Serikat itu. Sehingga, EXxonMobil bersedia melepas haknya di Lapangan Jambaran,

“ExxonMobil melihat ini [Proyek Jambaran-Tiung Biru] proyek nasional dan mau membantu, makanya mau b to b (business to business) dengan Pertamina,” kata dia.

Proyek Jambaran-Tiung Biru sendiri merupakan unitisasi dari dua lapangan dari blok yang berbeda. Lapangan Jambaran masuk dalam Wilayah kerja Blok Cepu di mana Pertamina dan ExxonMobil sama-sama memliki hak partisipasi. Sementara lapangan Tiung Biru masuk area PT Pertamina EP. Meski kesepakatan tertulis soal permanent sole risk belum selesai, Adriansyah menuturkan, ground breaking Proyek Jambaran-Tiung Biru tetap akan dilakukan hari ini (25/9). 

Apalagi, pihaknya sudah mulai pembangunan tapak sumur dan jalan. Tidak hanya itu, pekerjaan rekayasa (engineering) juga sudah dikerjakan.

“Kami siap melakukan pengeboran dua sumur tahun depan,” ujar dia.

Investor Daily, Page-11, Monday, Sept 25, 2017

Pertamina EP Drilling Prime Well N2

PT Pertamina EP Asset 4 conducted offshore drilling in Sumur Poleng N2, last weekend. Prior to drilling, this subsidiary of PT Pertamina performed the final checks on team and equipment readiness.

Director of Operations and Production, Chalid Said Salim monitored the preparation ahead of drilling. In addition to monitoring the team's readiness, he also checked the equipment to be used.

"Today I represent the management of PT Pertamina EP want to know how the condition of the team in the field, and of course the readiness of equipment to be used for offshore drilling prime in Poleng Field," Chalid said in a press statement yesterday.

The location of the well to be drilled, Chalid said, is named Poleng N2 or CW-12H well which has the surface coordinates X: 70-8,283.73; Y: 9259.346.09. Drilling is estimated to take up to 45 days ahead with a target of 9,000 feet depth.

"Insha Allah with the beginning of prayer together and good faith and support of all parties, we are this drilling project," he explained.

Explained, this drilling activity is a form of positive synergy between Upstream PT Pertamina Subsidiary, PT Pertarnina EP and PT Pertamina Hulu Energi. The cost in this project reached 15 million US dollars.

"This excellent synergy is mutually supportive of the implementation of this activity. Especially for PT Pertamina EP, which is the first time to conduct offshore drilling, this is a learning process for all related functions in planning, preparation and execution, "he explained.

Through the activities, Chalid said, the corporation hopes to produce 700 barrels of oil per day and 1.2 million cubic feet of gas per day. Meanwhile, General Manager of PT Pertamina EP, Didik Susilo said, Asset 4 is one of the most complete assets because in addition to having an oil field, there are also 3 Gas Production Centers CPP Gundih, CPP Donggi and CPP Matindok. In addition, in Asset 4 there is also a field on land and offshore like the one in Poleng Field. Poleng Field entered PT Pertamina EP approximately 4 years ago.

"In the same place, Poleng Field Manager, Charles S Siallagan explained before drilling, it has prepared a special team for both technical and non technical teams for smooth operation.

"We really hope this drilling runs smoothly and can increase the production of PT Pertamina EP in particular and nationally in general. For that we ask for support from all parties for drilling offshore is running smoothly and zero accident, "said Charles.

IN INDONESIA

Pertamina EP Mengebor Sumur Perdana N2

PT Pertamina EP Asset 4 melakukan pengeboran perdana lepas pantai di Sumur Poleng N2, akhir pekan lalu. Sebelum melakukan pengeboran, anak perusahaan PT Pertamina ini melakukan pengecekan terakhir terkait kesiapan tim dan peralatan.

Direktur Operasi dan Produksi, Chalid Said Salim memantau langsung persiapan jelang pengeboran. Selain memantau kesiapan tim, dia juga mengecek peralatan yang akan dipakai.

”Hari ini saya mewakili manajemen PT Pertamina EP ingin mengetahui bagaimana kondisi tim di lapangan, dan tentunya kesiapan peralatan yang akan digunakan untuk pemboran lepas pantai perdana di Poleng Field,” ujar Chalid dalam keterangan persnya, kemarin.

Lokasi sumur yang akan dibor, kata Chalid, bernama Poleng N2 atau sumur CW-12H yang memiliki koordinat permukaan X : 70-8,283.73 ; Y : 9.259.346,09. Pengeboran diperkirakan memakan waktu hingga 45 hari kedepan dengan target kedalaman 9.000 feet. 

”Insya Allah dengan diawali doa bersama dan itikad baik serta dukungan seluruh pihak, kami proyek pengeboran ini,” terangnya. 

Dijelaskan, kegiatan pengeboran ini merupakan wujud sinergi positif antar Anak Perusahaan Hulu PT Pertamina yaitu PT Pertarnina EP dan PT Pertamina Hulu Energi. Adapun biaya dalam proyek ini mencapai 15 juta dollar AS.

”Sinergi yang sangat baik ini saling mendukung terlaksananya kegiatan ini. Terutama bagi PT Pertamina EP yang baru pertama kali melakukan pemboran lepas pantai, hal ini merupakan proses pembelajaran bagi semua fungsi terkait dalam perencanaan, persiapan dan eksekusi,” jelasnya.

Melalui kegiatan, kata Chalid, korporasi berharap mampu menghasilkan 700 Barel Minyak Per Hari dan 1,2 Juta Kaki Kubik Gas Per Hari. Sementara itu, General Manager PT Pertamina EP, Didik Susilo mengatakan, Asset 4 merupakan salah satu asset yang paling lengkap dikarenakan selain memiliki lapangan minyak, ada juga 3 Pusat Produksi Gas yaitu CPP Gundih, CPP Donggi dan CPP Matindok.  Selain itu, di Asset 4 juga ada lapangan di darat serta di lepas pantai seperti yang ada di Poleng Field. Poleng Field masuk ke PT Pertamina EP kurang lebih 4 tahun yang lalu.

”Ditempat sama, Poleng Field Manager, Charles S Siallagan menjelaskan sebelum melakukan pengeboran, pihaknya telah mempersiapkan tim khusus baik untuk tim teknis maupun non teknis demi kelancaran operasi.

“Kami sangat berharap pengeboran ini berjalan lancar dan bisa menambah produksi PT Pertamina EP pada khususnya dan secara nasional pada umumnya. Untuk itu kami mohon dukungan dari seluruh pihak agar pemboran lepas pantai ini berjalan lancar dan zero accident,” tandas Charles.

Radar Gresik, Page-4, Monday, Sept 25, 2017

PLN Auctioning 50 Floating Gas Floor Units

Power developers interested in working on FSRU but questioned about gas supply

PT Perusahaan Listrik Negara (PLN) opened the auction of floating storage regasification unit (FSRU). This terminal will be used to supply gas gas power plants (PLTG). PLN needs 50 FSRUs of jumbo and mini size.

As an illustration, the need for investment funds to build large-scale FSRU is approximately US $ 210 million per unit. Meanwhile, to build a mini FSRU needs around US $ 50 million. If calculated, the tender value of 50 units of mini FSRU could reach US $ 2.5 billion.

The number of FSRU needs is increased from PLN's initial plan to only three FSRU units in North Sumatra (Sumbagut), Muara Tawar Jakarta, and Gorontalo Sulawesi Selatan.

PT PLN's Strategic Procurement Director, Supangkat Iwan Santoso, stated that the 50 units of FSRU's construction plan is to adjust the power plants in central and eastern Indonesia. Like Belawan FSRU for North Sumatra 3 power plant.

"It may take around 50s of locations, small, mini LNG, small FSRU," said Iwan (22/9).

FSRU development will also adjust the floating storage LNG or hub to be built PLN. Because not all FSRU can directly process LNG. Special mini FSRU, gas supply will be obtained from LNG taken from LNG storage or hub.

"Later taken to a new hub deployed to a small ship to fill. Later each cluster has one hub. Example (FSRU) Bangka Belitung Pontianak hub, "said Iwan.

The gas supply itself will be obtained from the supply of Tangguh LNG Train 3 and Bontang LNG. If the supply of LNG is still lacking to meet the gas energy mix by 25% in 2025, then Iwan said, PLN will add LNG contract from Train 3 or Donggi Senoro.

PLN will not build 50 units of FSRU independently, but will take other parties. For example, the Gorontalo FSRU project is in the tender process. The FSRU tender will be separated by a tender for a power plant to be built in the region. At FSRU Gorontalo, PLN has a capacity of 20 (BBTUD). The FSRU is planned to be used for power plants, with less than 100 megawatts (MW) of electricity.

Besides FSRU Gorontalo, PLN will also auction Belawan FSRU. The difference is that the Belawan FSRU tender will be integrated with the power plant. electricity. There is also a tender for the FSRU Indonesia central project. Currently has entered the bidding process. The announcement is mid-November 2017.

FSRU Less economical

When PLN intensively build FSRU, Daily Chief of Indonesian Private Power Producers Association (APLSI) Arthur Simatupang reminded, electric developers interested in investing during supply is assured. He said domestic gas logistics is not as easy as coal.

"It needs an adequate pipeline distribution network from gas source to power plant," he said, Sunday (27/9).

He also stated that PLTG in remote areas is hard because it is difficult to reach gas sources. Although there is FSRU, there needs to be a gas supply commitment.

"Gas is cheaper than PLN and environmentally friendly, but constrained logistics side because its supply chain is still scarce, so the calculation is not economical" he said. In addition it needs additional LNG investment hub at several strategic points.

IN INDONESIA

PLN Melelang 50 Unit Terminal Gas Terapung

Pengembang listrik tertarik menggarap FSRU tetapi mempertanyakan soal pasokan gas

PT Perusahaan Listrik Negara (PLN) membuka lelang pengadaan terminal gas terapung atau floating storage regasification unit (FSRU). Terminal ini akan dipakai untuk menyuplai gas pembangkit listrik tenaga gas (PLTG). PLN butuh 50 FSRU ukuran jumbo dan mini.

Sebagai gambaran, kebutuhan dana investasi untuk membangun FSRU skala besar adalah sekitar US$ 210 juta per unit. Sementara, untuk membangun FSRU mini kebutuhan dana sekitar US$ 50 juta.  Jika dihitung, nilai tender dari 50 unit FSRU mini bisa mencapai US$ 2,5 miliar.

Jumlah kebutuhan FSRU tersebut bertambah dari rencana awal PLN hanya tiga unit FSRU yakni di Sumatra Bagian Utara (Sumbagut), Muara Tawar Jakarta, dan Gorontalo Sulawesi Selatan.

Direktur Pengadaan Strategis 2 PT PLN, Supangkat Iwan Santoso menyatakan, rencana pembangunan 50 unit FSRU ini menyesuaikan pembangkit-pembangkit yang tersebar di Indonesia tengah dan Indonesia timur. Seperti FSRU Belawan untuk pembangkit listrik Sumut 3. 

"Mungkin butuh sekitar 50-an lokasi, kecil-kecil, mini LNG, FSRU-nya kecil," kata Iwan (22/9).

Pembangunan FSRU juga nantinya menyesuaikan floating storage LNG atau hub yang akan dibangun PLN. Pasalnya tidak semua FSRU bisa langsung memproses LNG. Khusus FSRU mini, pasokan gas akan didapat dari LNG yang diambil dari storage LNG atau hub. 

“Nanti dibawa ke hub baru disebar ke kapal kecil untuk mengisi. Nanti tiap kluster ada satu hub. Contoh (FSRU) Bangka Belitung hubnya Pontianak," kata Iwan.

Pasokan gasnya sendiri akan didapat dari pasokan LNG Train 3 Tangguh dan LNG Bontang. Jika pasokan LNG tersebut masih kurang untuk memenuhi bauran energi gas sebesar 25% pada 2025, maka Iwan bilang, PLN akan menambah kontrak LNG dari Train 3 atau Donggi Senoro.

PLN tidak akan membangun 50 unit FSRU tersebut secara mandiri, namun akan menggandeng pihak lain. Contohnya proyek FSRU Gorontalo yang sedang proses tender. Tender FSRU ini akan terpisah dengan tender pembangkit listrik yang akan dibangun di kawasan tersebut. Pada FSRU Gorontalo, PLN merancang berkapasitas 20 (BBTUD). FSRU ini rencananya akan digunakan untuk pembangkit, listrik berkapasitas kurang dari 100 Megawatt (MW).

Selain FSRU Gorontalo, PLN juga akan melelang FSRU Belawan. Bedanya, tender FSRU Belawan akan terintegrasi dengan pembangkit. listrik. Ada juga tender proyek FSRU Indonesia tengah. Saat ini sudah memasuki proses penawaran. Pengumumannya pertengahan November 2017.

FSRU Kurang ekonomis 

Saat PLN gencar membangun FSRU, Ketua Harian Asosiasi Produsen Listrik Swasta Indonesia (APLSI) Arthur Simatupang mengingatkan, pengembang listrik tertarik berinvestasi selama suplai terjamin. Ia menyebut logistik gas dalam negeri tidak semudah batubara. 

"Perlu jaringan distribusi pipa yang memadai dari sumber gas ke pembangkit listrik," kata dia, Minggu (27/9).

Dia juga menyatakan, PLTG yang di daerah terpencil paling susah karena sulit terjangkau sumber gas. Meskipun ada FSRU, perlu ada komitmen pasokan gas. 

"Gas lebih murah dibandingkan PLN dan ramah lingkungan. Tapi terkendala sisi logistik karena supply chain-nya yang masih langka, sehingga hitungannya tidak ekonomis" kata dia. Selain itu perlu tambahan investasi LNG hub di beberapa titik strategis.

Kontan, Page-14, Monday, Sept 25, 2017

The tasteless sentiment was good

The OPEC meeting on Friday (22/9) which provides some of the latest important information, it feels sweet to market participants, although not yet meet expectations.

On Friday's trade (22/9), WTI oil price of November 2017 contract rose 0.11 points or 0.22% to US $ 50.66 per barrel. This is the highest level since May 24, 2017 at US $ 51.36 per barrel. The Brent oil contract in November 2017 in the same time increased 0.43 points or 0.76% to US $ 56.86 per barrel. This figure shows the highest level since January 6, 2017 at a price of US $ 57.10 per barrel.

President of Strategic Energy & Economic Research Inc. Michael Lynch said crude oil prices closed slightly higher after the discovery of OPEC raised optimism of market participants. The most anticipated information is the issue surrounding production cuts.

OPEC and other crude producers, often referred to as non-OPEC, agreed to cut new supplies by 1.8 million barrels per day (bpd) in January 2017-March 2018. The move aims to trim abundant global supplies.

In its official broadcast, OPEC announced a number of important results in a meeting on Friday (22/9). First, Libya, Nigeria, and Iraq reaffirmed their commitment to participate in the production cuts agreement.

In fact, Libya and Nigeria freed from the agreement because it needs to restore the country's economy that is hampered by militant attacks. Second, the compliance of OPEC and non-OPEC output cuts in August 2017 reached 116%, or exceeded the agreement of 1.8 million bpd. This is the largest supply cut since the start of the agreement.

Third, the crude oil stock at the Organization for Economic Cooperation and Development (OECD) in August 2017 has reached 170 million barrels, and January 2017 of 340 million barrels. The downward trend in inventories is expected to continue in the future. Fourth, all options to balance the market are still open. This spawned expectations of extending the production cutting period ending in March 2018.

NOT CLEAR

Related to the outcome of the OPEC meeting, Lynch argues, the organization did deliver a number of important messages. However, the market has not received a clear decision on the extension or addition of production cuts.

The news from OPEC earlier seemed rather bland, but lately tasteless sentiments were good. People feel as if the market is back in balance, "he said as quoted and Bloomberg, Saturday (23/9).

Commodity Fund Manager Lyche Capital Advisors Tariq Zahir said oil prices were on track for the third consecutive monthly rise as OPEC and non-OPEC output cuts signaled global inventories. The next important event of concern is the meeting of OPEC member ministers on November 30, 2017.

"Oil prices are still likely to be depressed until the [November 30] meeting. Investors seem to want more production cuts instead of extending their periods, "he explained.

Central Capital Furures analyst Wahyu T. Laksono said the WTI price has indeed rebounded strongly since late August 2017. Commodity trends improved as the dollar weakened before the FOMC meeting Wednesday gave Hawkis sentiment.

And the fundamental side, the OPEC agreement is considered successful enough to control supply in the global market. A week ago. prices rose by 2.2% as they awaited the outcome of the meeting. The main information that arouses the optimism of market participants is a surge in production cuts by 116% last month, compared with 94% compliance in July 2017.

According to him, the space for bullish in the range of US $ 50 - US $ 5S per barrel is still possible. However, the area provides a strong enough correction pressure. This week, prices are likely to reach new highs this year at US $ 54.45 per barrel, reached on February 23, 2017. New High's failure could trigger a correction.

"If next week [this week] fails the new high there could be a reversal, the potential for the nearest correction to the US $ 47.50 area," he said.

Until the end of 2017 the price still has the potential to reach the highest level of US $ 55 per barrel. However, if the resale action dominated the price will return to the range of US $ 45-US $ 50 per barrel. Break below that area can deliver the price to the lowest position of US $ 42 per barrel.

Senior Energy Analyst International Energy Agency (IEA) Kristine Petrosyan said the global oil market has been oversupplied in the last 3 years. The reduction of OPEC and non-OPEC production this year has not been enough to overcome the surplus, as the demand for refining is relatively low.

IN INDONESIA

Sentimen Hambar pun Bagus

Rapat OPEC pada Jumat (22/9) yang memberikan sejumlah informasi penting terbaru, memang terasa manis bagi pelaku pasar, meskipun belum memenuhi ekspektasi. 

Pada perdagangan Jumat (22/9), harga minyak WTI kontrak November 2017 naik 0,11 poin atau 0,22% menuju US$ 50,66 per barel. lni merupakan level tertinggi sejak 24 Mei 2017 di posisi US$ 51,36 per barel. Adapun minyak Brent kontrak November 2017 dalam waktu yang sama meningkat 0,43 poin atau 0,76% menjadi US$ 56,86 per barel. Angka tersebut menunjukkan level tertinggi sejak 6 Januari 2017 di harga US$ 57,10 per barel.

Presiden Strategic Energy & Economic Research lnc. Michael Lynch menuturkan, harga minyak mentah ditutup menguat tipis setelah penemuan OPEC membangkitkan optimisme pelaku pasar. Informasi yang paling dinantikan ialah isu seputar pemangkasan produksi. 

Seperti diketahui, OPEC dan sejumlah negara produsen minyak mentah lainnya yang kerap disebut sebagai non-OPEC, setuju memangkas pasokan baru sebesar 1,8 juta barel per hari (bph) pada Januari 2017-Maret 2018. Langkah ini bertujuan memangkas persediaan global yang berlimpah.

Dalam siaran resminya, OPEC mengumumkan sejumlah hasil penting dalam rapat pada Jumat (22/9). Pertama, Libya, Nigeria, dan lrak menegaskan kembali komitmen mereka untuk berpartisipasi dalam perjanjian pemangkasan produksi.

Padahal, Libya dan Nigeria dibebaskan dari kesepakatan karena perlu memulihkan perekonomian negara yang terhambat oleh serangan militan. Kedua, kepatuhan pemangkasan produksi OPEC dan non-OPEC pada Agustus 2017 mencapai 116%, atau melampaui kesepakatan sejumlah 1,8 juta bph. lni merupakan pemangkasan pasokan terbesar sejak dimulainya perjanjian.

Ketiga, stok minyak mentah di Organisasi untuk Kerjasama Ekonomi dan Pembangunan (OECD) pada Agustus 2017 sudah mencapai 170 juta barel, dan Januari 2017 sebesar 340 juta barel. Tren penurunan persediaan diperkirakan berlanjut ke depannya. Keempat, semua opsi untuk menyeimbangkan pasar masih terbuka. Hal ini menumbuhkan ekspektasi memperpanjang periode pemangkasan produksi yang berakhir pada Maret 2018.

BELUM JELAS

Terkait hasil rapat OPEC, Lynch berpendapat, organisasi itu memang menyampaikan sejumlah pesan penting. Namun, pasar belum mendapatkan keputusan jelas mengenai pemanjangan atau penambahan pemotongan produksi.

Berita dari OPEC sebelumnya terasa agak hambar, tetapi akhir-akhir ini sentimen hambar pun bagus. Orang-orang merasa seolah pasar kembali seimbang,” tuturnya seperti dikutip dan Bloomberg, Sabtu (23/9).

Commodity Fund Manager Lyche Capital Advisors Tariq Zahir mengungkapkan, harga minyak berada di jalur kenaikan bulanan ketiga berturut-turut karena sinyal pemangkasan produksi OPEC dan non-OPEC menekan persediaan global. Peristiwa penting yang menjadi perhatian berikutnya ialah pertemuan menteri-menteri negara anggota OPEC pada 30 November 2017.

“Harga minyak masih cenderung tertekan sampai pertemuan [30 November] tersebut. Investor tampaknya lebih menginginkan penambahan pemotongan produksi dibandingkan memperpanjang periodenya,” Jelasnya.

Analis Central Capital Furures Wahyu T. Laksono mengungkapkan, harga WTI memang mengalami rebound kuat sejak akhir Agustus 2017. Tren komoditas membaik karena pelemahan dolar AS, sebelum rapat FOMC Rabu (20/9) memberikan sentimen Hawkis.

Dan sisi fundamental, perjanjian OPEC dianggap cukup sukses mengendalikan pasokan di pasar global. Sepekan kemarin. harga naik- 2,2% karena menantikan hasil rapat. lnformasi utama yang membangkitkan optimisme pelaku pasar ialah lonjakan pemangkasan produksi hingga 116% pada bulan lalu, dibandingkan dengan 94% kepatuhan pada Juli 2017.

Menurutnya, ruang bagi bullish di kisaran US$ 50--US$ 5S per barel masih mungkin dicapai. Namun, area tersebut memberikan tekanan koreksi yang cukup kuat. Pada pekan ini, harga berpeluang mencapai level tertinggi baru tahun ini di posisi US$ 54.45 per barel, yang dicapai pada 23 Februari 2017. Kegagalan New High dapat memicu koreksi.

"Jika pekan depan [pekan ini] gagal new high bisa terjadi pembalikan. Potensi koreksi terdekat menuju area US$ 47,50,” ujarnya. 

Sampai akhir 2017 harga masih berpotensi mencapai level tertinggi US$ 55 per barel. Namun, bila aksi jual kembali mendominasi harga akan kembali ke kisaran US$ 45-US$ 50 per barel. Break di bawah area tersebut dapat mengantarkan harga menuju posisi terendah US$42 per barel.

Senior Energy Analyst lnternational Energy Agency (IEA) Kristine Petrosyan menyampaikan, pasar minyak global mengalami kelebihan pasokan dalam 3 tahun terakhir. Pengurangan produksi OPEC dan non-OPEC pada tahun ini belum cukup mengatasi surplus, karena permintaan penyulingan relatif rendah.

Bisnis Indonesia, Page-16, Monday, Sept 25, 2017

Gas Supplied from Crickets

PT Rekayasa Industri opens the option to deliver gas supply from Jangkrik Field to gas transmission line of Cirebon-Semarang segment. The Cirebon-Semarang gas pipeline is part of the Trans-Java gas pipeline project.

The Trans-Java project consists of three main projects. First, western Java with an investment of US $ 300 million through Cirebon-Kandang Haur Timur along 84 km and Tegal Gede (Cikarang) -Magara Tawar 50 km. Secondly, North Java worth US $ 400 million with Cirebon-Semarang along 235 km. Third, East Java worth US $ 360 million through Semarang-Gresik along 271 km and East Java Gas Pipeline (EJGP) -Grati along 22.1 km with an investment of US $ 58 million.

Industrial Engineering (Rekind) stated that it will continue the pipeline construction process which the winning bidder has announced since 2006. The gas supply to be channeled to the pipeline comes from the Jangkrik Field, Muara Bakau Block in Makassar Strait in the form of LNG / LNG.

Assuming a 33-month physical construction, the gas pipeline is targeted to start delivering gas by 2020. Previously, the pipeline construction was constrained due to the uncertainty of gas buyers and gas supply sources. As a result, after 11 years, the project was canceled.

However, Rekind has signed a memorandum of understanding (MoU) on September 20, 2017 with PT Sarana Pembangunan Central Java in cooperation of gas distribution of the segment to be built. BUMD will be the coordinator to ensure buyers from the industrial sector in West Java and Central Java.

The pipeline, which is planned to be built with a capacity of 250 million cubic feet per day (MMscfd) up to 300 MMscfd, will operate in partnership with PT Pertamina Gas. Acting President Director Rekind Jakub Utama said that the projected increase in gas utilization as fuel also needs the industry to become the main driver for the company to continue the Cirebon-Semarang gas pipeline project. Rekind requested the support of the government, SOEs, enterprises, and industry players in order that the project can run on target.

"By looking at the high utilization opportunities of gas fuel, we expect support from all stakeholders in Central Java and West Java to participate in contributing," he said on Sunday (24/9).

Head of Downstream Oil and Gas Regulatory Agency Fanshurullah Asa said Rekind's presentation on September 18, there are several gas supply options that are channeled to the pipeline, namely from Coridor Block (ConocoPhillips Grissik Limited) in South Sumatra or Jangkrik Field (Eni Muara Bakau BV) .

"The options are from Cricket Field or from ConocoPhillips via SSWJ [South Sumatra-West Java] pipeline".

IN INDONESIA

Gas Dipasok dari Jangkrik

PT Rekayasa lndustri membuka opsi untuk mengalirkan pasokan gas dari Lapangan Jangkrik pada pipa gas transmisi ruas Cirebon-Semarang. Pipa gas Cirebon-Semarang merupakan bagian dari proyek integrasi pipa gas Trans-Jawa.

Proyek Trans-Jawa terdiri dari tiga proyek utama. Pertama, Jawa bagian barat dengan investasi US$ 300 juta melalui jalur Cirebon-Kandang Haur Timur sepanjang 84 km dan Tegal Gede (Cikarang)-Muara Tawar 50 km. Kedua, Jawa bagian utara senilai US$400 juta dengan jalur Cirebon-Semarang sepanjang 235 km. Ketiga, Jawa bagian timur senilai US$ 360 juta melalui Semarang-Gresik sepanjang 271 km dan East Java Gas Pipeline (EJGP)-Grati sepanjang 22,1 km dengan nilai investasi US$ 58 juta.

Rekayasa Industri (Rekind) menyatakan bahwa pihaknya akan melanjutkan proses pembangunan pipa yang pemenang lelangnya sudah diumumkan sejak 2006 tersebut. Pasokan gas yang akan dialirkan pada ruas pipa itu berasal dari Lapangan Jangkrik, Blok Muara Bakau di Selat Makassar berupa gas alam cair/LNG. 

Dengan asumsi pengerjaan fisik selama 33 bulan, pipa gas tersebut ditargetkan mulai mengalirkan gas pada 2020. Sebelumnya, pembangunan ruas pipa itu terkendala karena belum adanya kepastian pembeli gas dan sumber pasokan gas. Alhasil, selang 11 tahun, proyek batal diselesaikan.

Namun, Rekind telah menandatangani nota kesepahaman (memorandum of understanding/MoU) pada 20 September 2017 dengan PT Sarana Pembangunan Jawa Tengah dalam kerja sama pendistribusian gas dari ruas yang akan dibangun. BUMD akan menjadi koordinator untuk memastikan pembeli dari sektor industri di Jawa Barat dan Jawa Tengah.

Pipa yang rencananya dibangun dengan kapasitas 250 juta kaki kubik per hari (MMscfd) hingga 300 MMscfd itu pengoperasiannya akan bermitra dengan PT Pertamina Gas. Pelaksana Tugas Direktur Utama Rekind Jakub Utama mengatakan bahwa proyeksi naiknya pemanfaatan gas sebagai bahan bakar juga kebutuhan industri menjadi pendorong utama bagi perseroan untuk melanjutkan proyek pipa gas Cirebon-Semarang. Rekind meminta dukungan pemerintah, BUMN, BUMD, dan pelaku industri agar proyek bisa berjalan sesuai target.

“Dengan melihat peluang pemanfaatan bahan bakar gas yang tinggi, kami mengharapkan dukungan dari seluruh pemangku kepentingan di wilayah Jawa Tengah dan Jawa Barat untuk turut serta memberikan kontribusi,” katanya, Minggu (24/9).

Kepala Badan Pengatur Hilir Minyak dan Gas Bumi Fanshurullah Asa mengatakan presentasi Rekind pada 18 September, ada beberapa opsi pasokan gas yang dialirkan pada ruas pipa tersebut, yakni dari Blok Coridor (ConocoPhillips Grissik Limited) di Sumatra Selatan atau Lapangan Jangkrik (Eni Muara Bakau BV).

“Opsinya ada dari Lapangan Jangkrik atau dari ConocoPhillips melalui pipa SSWJ [South Sumatra-West Java]".

Bisnis Indonesia, Page-28, Monday, Sept 25, 2017

Government to auction East Kalimantan block Soon

The government plans to auction off the East Kalimantan oil and gas block immediately after state-owned firm Pertamina refused to take it over from its current operator next year.

The local unit of United States energy giant Chevron Corp. is operating the block until October 2018 and has decided not to extend its contract. The government has offered the block, one of the country’s top 10 oil producers, to state-owned oil and gas firm Pertamina, in addition to another seven blocks.

However, Deputy Energy and Mineral Resources Minister Arcandra Tahar confirmed that Pertamina. had refused to run the East Kalimantan block following a thorough review of all eight on offer.

“Based on my understanding, it [Pertamina] is planning to return [the East Kalimantan block] and [therefore] it will be put up for auction as soon as possible. There is no more time and it must be auctioned off immediately,” he told reporters on Friday.

The Energy and Mineral Resources Ministry previously assigned Pertamina to take over eight blocks - consisting of East Kalimantan, Attaka, North Sumatra oifshore, Ogan Komering, Sanga-sanga, Southeast Sumatra, Tengah and Tuban once their existing product sharing contracts (PSC) expire in 2018.

The East Kalimantan block produced 18,200 barrels of oil per day (bopd) in the first half of the year, according to data from the Upstream Oil and Gas Regulatory Special Task Force (SKKMigas).

Like the Offshore Northwest Java block Pertamina recently acquired, the government expects the firm to operate the eight fields using the newly introduced gross split scheme.

In response to mounting complaints from business players over its economic infeasibility the scheme, passed early this year, was recently revised to provide better incentives for contractors.

However, the profit split between contractors and the government still depends on a few variables, including global oil prices and the stage of production. While the government touted this new scheme as a win-win solution for all stakeholders, Pertamina’s subsidiary PT Pertamina Hulu Energi (PHE) has been visibly struggling wlth the absence of reimbursement from the government for exploration activities, which was covered by the previous cost-recovery scheme.

After longdrawn negotiations with the government, PHE’s portion was finally raised to 73.5 percent and 81 percent for the oil and gas fields, respectively, from an initial 57.5 percent and 62.5 percent. Pertamina’s refusal to take over the East Kalimantan block may not bode well for the governments already grim auction of oil and gas blocks.

The Energy and Mineral Resources Ministry recently planned to extend the deadline of this year’s auction to November for the second time. The ministry’s oil and gas director general Ego Syahrial attributed the extension to the revision of the ministerial decree regulating the gross-split scheme.

In response to Arcandra’s statement, Pertamina upstream director Syamsu Alam said that the firm would focus on the seven other blocks. However, Pertamina spokesman Adiatma Sarditjo said Pertamina was still discussing the issue internally and had yet to communicate its stance formally to the government. He declined to elaborate further.

Experts have speculated that Pertamina’s lack of interest was a result of the commercial inviability ofthe block’s operation under the gross-split scheme. ReforMiner Institute founder Pri Agung Rakhmanto said that while the East Kalimantan block’s economic feasibility was relative compared to other blocks in Pertamina’s business portfolio, the gross-split scheme would perhaps not cover certain costs.

“There is a possibility that there is a large cost component or obligation that is not economically feasible under the gross-split scheme, even with the additional split [in the new revision],” he told The Jakarta Post on Friday.

The latest ReforMiner Institute’s report concludes that the lack of clarity on taxation under the scheme remains a major hindrance to investors who are looking to grab a slice ofthe upstream pie.

 Jakarta Post, Page-13, Saturday, Sept 23, 2017

Operation Jambaran-Tiung Biru is Positive

The gas price agreement between Pertamina and PLN in Jambaran-Tiung Biru is considered very positive and high strategic value. Because many economic impacts are generated, ranging from labor to industry.

"Very strategic and positive. Many mulitiplier effects of economic sector that can be driven, "said Executive Director of ReforMiner Institue Komaidi Notonegoro in Jakarta, Friday (22/9).

According to Komaidi, the resulting economic impact is remarkable. Including, among others, that the gas supply from Jambaran-Tiung Biru is vital to meet gas demand in Indonesia, especially electricity and industry in Java.

"Do not forget, the industries in East Java will continue to grow. Not to mention the interconnected electricity, so the results of power plants in East Java can be for Central Java and Bali. Electricity will also drive other sectors. In the agricultural sector, for example, it will add value to the fertilizer and petrochemical industry, "he said.

Komaidi also believes that Jambaran - Tiung Biru can accelerate the utilization of gas pipeline Gresik-Semarang, so that the utilization of gas can be expanded. Thus, the projects that were delayed and the economy in doubt, will all go back one by one.

Special sector of industry, Jambaran-Tiung Biru become the solution of gas supply needs. It is true that the current LNG is abundant, because oil refineries in some countries, such as Qatar, Australia, and Papua New Guinea are many. But Komaidi reminded that industry should not think too micro and short term.

"This large gas only lasts until 2018. In fact, the industry must think until 2025-2030. That is, the industry also needs gas supply from Jambaran-Tiung Biru, "he said.

Equally important, is the incredible employment absorption. Due to the ever-increasing growth, the industry is also increasingly in need of a lot of manpower. Not directly related, but also supporting industries, such as pipes to food.

Not just primary industry. Micro, small and medium enterprises (MSMEs) were also believed to be positively affected by the operation of the Jambaran-Tiung Biru field. Therefore, the Vice Chairman of the Chamber of Commerce and Industry (KADIN) Indonesia, Erik Hidayat, sees that the project is very positive for the community, not least the small entrepreneurs, which in fact is a big contribution in the national economy.

"A must. Because of its effect to lower society. There are 56 million micro businesses, with 60 percent of them culinary, including stalls, bakers, and street food. They have to be positively affected by the cooperation between PLN and Pertamina, "Erik said. 

    If that happens, he said, it is expected to strengthen the competitiveness of MSMEs, which will ultimately positively affect the regional and national economy.

In addition, he said, is expected to also support 221 ministries that have been their respective programs in the development of SMEs.

"We all help a lot. It is an obligation for all institutions and even state-owned enterprises to advance MSMEs, "said Erik.

IN INDONESIA

Pengoperasian Jambaran-Tiung Biru Dinilai Positif  

Kesepakatan harga gas antara Pertamina dan PLN di Jambaran-Tiung Biru dinilai sangat positif dan bernilai strategis tinggi. Pasalnya banyak dampak ekonomi dihasilkan, mulai sektor tenaga kerja hingga industri. 

“Sangat strategis dan positif. Banyak mulitiplier effect sektor ekonomi yang bisa digerakkan," kata Direktur Eksekutif ReforMiner Institue Komaidi Notonegoro di Jakarta, Jumat (22/ 9).

Menurut Komaidi, dampak ekonomi yang dihasilkan memang luar biasa. Termasuk di antaranya, bahwa pasokan gas dari Jambaran-Tiung Biru sangat vital untuk memenuhi kebutuhan gas di Indonesia, khususnya listrik dan industri di Jawa.

“Jangan lupa, industri di Jawa Timur akan terus bertumbuh. Belum lagi listrik yang interkoneksi, sehingga hasil pembangkit di Jatim bisa untuk Jawa Tengah dan Bali. Listrik juga akan menggerakkan sektor-sektor lain, Di sektor pertanian, misalnya, akan memberi nilai tambah industri pupuk dan petrokimia,” kata dia.

Komaidi juga meyakini, Jambaran - Tiung Biru bisa mempercepat utilisasi pipa gas Gresik-Semarang, sehingga pemanfaatan gas bisa diperluas. Dengan demikian, proyek-proyek yang sempat tertunda dan keekonomiannya diragukan, semua akan kembali berjalan satu per satu.

Khusus sektor industri, Jambaran-Tiung Biru menjadi solusi pemenuhan kebutuhan pasokan gas. Benar bahwa saat ini LNG sedang melimpah, karena kilang minyak di beberapa negara, seperti Qatar, Australia, dan Papua Nugini sedang banyak. Tetapi Komaidi mengingatkan, bahwa industri tidak boleh berpikir terlalu mikro dan jangka pendek.

“Gas yang sedang banyak ini hanya bertahan hingga 2018. Padahal, industri harus berpikir hingga 2025-2030. Artinya, industri pun membutuhkan pasokan gas dari Jambaran-Tiung Biru,” kata dia.

Tidak kalah penting, adalah penyerapan tenaga kerja yang sangat luar biasa. Karena dengan pertumbuhan yang terus meningkat, industri juga semakin membutuhkan banyak tenaga kerja. Tidak yang terkait langsung, namun juga industri penunjang, seperti pipa hingga makanan.

Tidak hanya industri primer. Usaha mikro, kecil, dan menengah (UMKM) pun, diyakini bisa terimbas positif operasional lapangan Jambaran-Tiung Biru. Untuk itu Wakil Ketua Umum Kamar Dagang dan Industri (KADIN) Indonesia, Erik Hidayat, melihat bahwa proyek itu sangat positif bagi masyarakat, tidak terkecuali pengusaha kecil, yang notabene kontribusi besar dalam perekonomian nasional.

“Harus dong. Karena efeknya ke masyarakat bawah. Terdapat 56 juta mikro bisnis, dengan 60 persen di antaranya adalah kuliner, termasuk warung, tukang kue, dan makanan kaki lima. Mereka harus terkena dampak positif kerja sama antara PLN dan Pertamina itu,” kata Erik. 

    Jika itu terjadi, kata dia, diharapkan bisa memperkuat daya saing UMKM, yang pada akhirnya akan berimbas positif bagi perekonomian daerah dan nasional. 

Selain itu, kata dia, diharapkan pula bisa mendukung 221 kementerian yang selama ini memiliki program masing-masing dalam pengembangan UMKM. 

“Kita semua banyak membantu. Sudah kewajiban bagi semua lembaga bahkan BUMN untuk memajukan UMKM,” kata Erik.

Investor Daily, Page-9, Saturday, Sept 23, 2017

Arfura Waters Have Potential Oil and Gas

The Ministry of Energy and Mineral Resources (ESDM) revealed the potential of oil and gas in Arafura Waters, Papua. This is a temporary result of the Center for Marine Geology Research and Development (P3GL) Ministry of Energy and Mineral Resources Research and Development Agency. The study used a research vessel Geomarin III in Arafura Waters from 21 August to 20 September.

Head of P3GL Ediar Usman said the Geomarin ship belonging to the ESDM Ministry is equipped with 2D seismic equipment, marine gravity meter and geomagnet. He mentioned that there is no research vessel in Indonesia equipped with similar equipment. The tools to determine the model and dimensions of oil and gas basin. Delineation of basins with gravity meter method combined with geomagnet can determine the level of prospect of a basin of oil and gas.

"The output of survey activities will be presented in complete reporting with seismic maps and atlas recordings," Ediar said after the Openship and Business Partner Meeting of Geomarin III Research Vessel at Tenau Port, Kupang, Friday (22/9).

The event was attended by Secretary General of the National Energy Council (DEN) Saleh Abdurrahman, two DEN members Syamsir Abduh and Pudji Utoro, as well as businessmen.

Ediar describes the length of the survey path in the Arafura Sea that is 1,300 kilometers (km), gravity meter and geomagnet 1,700 km. Seawater sampling with gravity corer at 28 points with a maximum length of sample of 2.6 meters. Based on research results, Arafura waters at the beginning of Quaternary is a swamp area.

This is indicated by a sample of seabed that contains organic carbon elements. The interpretation of the gravity meter and geomagnet shows evidence of a dense Akimegah basin that is thickening inland to Papua in the north.

IN INDONESIA

Perairan Arfura Miliki Potensi Migas

Kementerian Energi dan Sumber Daya Mineral (ESDM) mengungkapkan adanya potensi minyak dan gas bumi di Perairan Arafura, Papua. Hal ini merupakan hasil sementara dari Pusat Penelitian dan Pengembangan Geologi Kelautan (P3GL) Badan Litbang Kementerian ESDM. Penelitian itu menggunakan kapal riset Geomarin III di Perairan Arafura sejak 21 Agustus hingga 20 September.

Kepala P3GL Ediar Usman mengatakan, kapal Geomarin milik Kementerian ESDM itu dilengkapi peralatan seismik 2D, marin gravity meter dan geomagnet. Dia menyebut belum ada kapal riset di Indonesia yang dilengkapi dengan peralatan sejenis. Alat-alat tersebut untuk menentukan model dan dimensi cekungan migas. Deleniasi cekungan dengan metode gravity meter yang dikombinasikan dengan geomagnet dapat menentukan tingkat keprospekan suatu cekungan migas.

“Output kegiatan survei akan disajikan dalam pelaporan lengkap dengan peta dan atlas rekaman seismik,” kata Ediar usai acara Openship dan Temu Mitra Bisnis Kapal Riset Geomarin III di Pelabuhan Tenau, Kupang, Jumat (22/ 9).

Dalam acara tersebut dihadiri juga oleh Sekretaris Jenderal Dewan Energi Nasional (DEN) Saleh Abdurrahman, dua anggota DEN yakni Syamsir Abduh dan Pudji Utoro, serta pelaku bisnis.

Ediar menerangkan panjang lintasan survei di Laut Arafura yakni seismik 1.300 kilometer (km), gravity meter dan geomagnet masing-masing 1.700 km. Pengambilan sampel dasar laut dengan gravity corer di 28 titik dengan panjang maksimal sampel 2,6 meter. Berdasarkan hasil penelitian, perairan Arafura pada awal Kuarter merupakan daerah rawa. 

Ini ditunjukkan oleh sampel dasar laut yang mengandung unsur organic carbon. Penafsiran gravity meter dan geomagnet menunjukkan bukti adanya cekungan Akimegah yang menebal ke arah daratan Papua di sebelah utara.

Investor Daily, Page-9, Saturday, Sept 23, 2017