Innovation, Key to Investing Oil and Gas Sector

                Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan wants a variety of policy innovations in the ESDM sector to be an opportunity for investors to do business in Indonesia.

"I know the world economy is not attractive, but this can be achieved where the economic outlook of Indonesia is better than global trends. This is an opportunity to invest after we have various (innovations) policy in the EMR sector, "said Jonan through a written statement on Sunday (5/11).

In front of US investors, Jonan explained some of the EMR sector policy innovations in the concept of #EnergiBer justice,

among others the utilization of renewable energy (EBT) at affordable prices, reform the business certainty of power purchase agreement (PPA) with Minister of Energy and Mineral Resources Regulation No. 49 of 2017, and change the rendering system on oil and gas working area (WK) with online system.

Not enough, the government through the Ministry of Energy and Mineral Resources also changed the Production Sharing Cost (PSC) Cost Recovery to PSC Gross Split, revised Government Regulation No. 79 of 2010 into PP No. 27 of 2017, oil and gas refinery development by private business entities, simplify permissions.

Through the various policy innovations, investors are interested in various investment opportunities that have been provided, such as the 35,000 MW program that is still open to the private sector of six gigawatts (GW).

"This is a six GW opportunity is still open to invest. Will soon be opened and we will learn first the details, "he said.

Especially for potential renewable energy investment of 209 GW spread over 12 locations. More interestingly, local local BPP at I2 is more than the national average CPP. In addition, the ESDM Ministry has also undertaken reforms in the licensing field.

A total of 63 licenses have been transferred to the One-Stop Integrated License of the Capital Investment Coordinating Board (BKPM) so that currently there are only 15 licenses available in the Ministry of Energy and Mineral Resources covering six permits in the oil and gas subsector, six mineral and coal licenses, and three licenses in EBTKE subsector.

The World Bank places Indonesia 72nd in 2018 in Ease of Doing Business (EODB) in Indonesia. The rankings have their own success after 2017 in the 91st position or up 19 ranks.

One of the main indicators of the assessment is the ease of getting electricity access which also increased drastically from rank 49 in 2017 to 38 in 2018 or, up 23 ratings since 2016 from 61st rank.

Previously, the Upstream Oil and Gas Upstream Business Unit (SKK Migas) said that state revenues from upstream oil and gas up to 30 September 2017 reached 79 percent of the target set for this year.

"The realization of state revenue in line with the 2017 APBNP target is 12.20 billion US dollars, currently 79 percent," said Head of SKK Migas Amien Sunaryadi some time ago.

He explained that ifrealization of control on cost recovery (oil production costs) in accordance with the target of APBN 2017 is 7.76 billion US dollars or 73 percent of the target, amounting to 10.71 billion US dollars.

Meanwhile, the achievement of oil lifting (crude-ready oil) in 2017 as of September 30, 2017 reached 98 percent of the target. "The target of oil lifting according to APBNP 2017 is 815 Mbopd and now our achievement is 98 from the target.

IN INDONESIA

Inovasi Kunci Investeasi Sektor Migas

Menteri Energi dan Surnber Daya Mineral (ESDM) Ignasius Jonan menginginkan adanya beragam inovasi kebijakan di sektor ESDM mampu menjadi peluang bagi para investor berbisnis di Indonesia.

“Saya tahu ekonomi dunia sedang tidak menarik, tapi ini yang bisa capai di mana outlook ekonomi Indonesia lebih bagus dari tren global. Ini adalah peluang berinvestasi setelah kami memiliki berbagai (inovasi) kebijakan di sektor ESDM,” ujar Jonan melalui keterangan tertulisnya, Ahad (5/11).

Di hadapan para investor Amerika Serikat, Jonan memaparkan beberapa inovasi kebijakan sektor ESDM dalam konsep #EnergiBerkeadilan, antara lain pemanfaatan energi baru terbarukan (EBT) dengan harga terjangkau, mereformasi kepastian bisnis power purchase agreement (PPA) dengan Peraturan Menteri ESDM Nomor 49 Tahun 2017, Serta mengubah sistem render pada Wilayah kerja (WK) migas dengan sistem online.

Tidak cukup sampai itu, pemerintah melalui Kementerian ESDM juga mengganti Production Sharing Cost (PSC) Cost Recovery menjadi PSC Gross Split, merevisi Peraturan Pemerintah (PP) Nomor 79 Tahun 2010 inenjadi PP Nomor 27 Tahun 2017, pengembangan kilang migas oleh badan usaha swasta, serta menyerdehanakan perizinan.

Melalui berbagai inovasi kebijakan tadi, para investor meminati berbagai peluang investasi yang sudah disediakan, seperti program 35.000 MW yang masih terbuka untuk swasta sebesar enam gigawatt (GW). 

“Ini adalah peluang enam GW masih terbuka untuk berinvestasi. Akan segera dibuka dan akan kami pelajari dulu detailnya,” tuturnya.

Khusus untuk potensi investasi energi terbarukan sebesar 209 GW yang tersebar di 12 lokasi. Lebih menarik lagi, BPP lokal setempat pada I2 lokasi tersebut lebih beset dari rata-rata BPP nasional. Di samping itu, Kementerian ESDM juga telah melakukan reformasi di bidang perizinan. 

Sebanyak 63 perizinan telah dialihkan ke Perizinan Terpadu Satu Pintu Badan Koordinasi Penanaman Modal (PTSP-BKPM) sehingga saat ini perizinan yang ada di Kementerian ESDM hanya ada 15. yang meliputi enam izin di subsektor migas, enam izin mineral dan batubara, dan tiga izin di subsektor EBTKE.

Bank Dunia (World Bank) menempatkan Indonesia ke peringkat 72 di tahun 2018 dalam Kemudahan Berusaha (Ease of Doing Business/EODB) di Indonesia. Peringkat tersebut merumpakan keberhasilan tersendiri setelah pada tahun 2017 menenipati posisi Ke-91 atau naik 19 peringkat.

Salah satu indikator utama atas penilaian tersebut adalah kemudahan mendapat akses listrik (getting electricity) yang juga mengalami peningkatan peringkat secara drastus dari peringkat 49 di tahun 2017 menjadi 38 di tahun 2018 atau, naik 23 peringkat sejak tahun 2016 dari peringkat 61.

Sebelumnya Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyatakan, penerimaan negara dari sektor hulu migas hingga 30 September 2017 mencapai 79 persen dari target yang ditetapkan untuk tahun ini.

"Realisasi penerimaan negara sesuai target APBNP 2017 adalah 12,20 miliar dolar AS, saat ini sudah 79 persen," kata Kepala SKK Migas

Amien Sunaryadi beberapa waktu lalu.

Ia menjelaskan, ifealisasi pengendalian atas cost recovery (biaya produksi minyak) sesuai target APBN 2017 adalah 7,76 miliar dolar AS atau sudah 73 persen dari target, yaitu sebesar 10,71 miliar dolar AS.

Sedangkan, capaian lifting minyak (minyak mentah-siap jual) pada tahun 2017 per 30 September 2017 mencapai 98 persen dari target. "Target lifting minyak sesuai APBNP 2017 adalah 815 Mbopd dan saat ini pencapaian kita sudah 98 dari target.

Republika, Page-13, Monday, Nov 6, 2017

Mahakam Block Contract Transferred to Pertamina

The value of transition contracts reached 1.5 billion US dollars.

The Special Unit for Upstream Oil and Gas Operations (SKK Migas) has transferred the management contract of Mahakam Block owned by Total E & P Indonesia to PT Pertamina Hulu Mahakam. The transfer of the contract is done to keep production of the Mahakam Block which is currently in transition management period.

Deputy for the Control of SKK Migas Procurement Djoko Siswanto said the Mahakam Block contributed 22 percent to national gas production. Therefore, the production process must be maintained during the transition period, as directed by the Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan.

"The ESDM Minister said that the transitional period should not affect all activities, including the procurement," said Djoko, Sunday (5/11).

According to Djoko, contract mirroring covering more than 500 contracts will provide certainty of continuity of operation. SKK Migas is scheduling the transfer of the contract starting January 1, 2018 and is valid for one year.

Head of Procurement Management Division of Goods and Services SKK Migas Erwin Suryadi added that SKK Migas plays an active role in guarding the government's policy towards the continuity of the Mahakam block transition process. With the contract switching mechanism, vendors can keep on the move as usual.

"They get the contract certainty so production goes," he said.

The vital contracts in the Mahakam block are among others related to human resources contracts involving nearly 2,000 employees. In addition, there are also ship contracts, rigs, and other operating support. Overall, the contract value covered in this transitional period reached more than 1.5 billion US dollars, or around Rp 20.2 trillion (exchange rate of Rp 13,497 per US dollar).

The E & P Indonesie Total Contract in Mahakam Block will expire on 31 December 2017. During the transition period, Pertamina is investing by adding 14 wells drilling already done since June 2017.

Chairman of the Mahakam Management Preparation Team Judha Sumarianto appreciated SKK Migas's quick action. Judha promised to continue to maintain production performance and production costs. The legal section of Total E & P Indonesie has provided a detailed explanation of the procedures and steps to be taken to complete the contract mirroring process of hundreds of existing contracts. It is expected that the entire process can be completed by November 2017

Keep production

Total E & P Indonesie seeks to keep production rate steady ahead of the "uniform" change procession in the Mahakam Block. Two months before the end of the contract, Total E & P Indonesie states, oil and gas production in the Mahakam block is still on target.

Vice President of Authorization Coordination, Communication, and External Affairs Total E & P Indonesie Agus Suprijanto explained, it still optimizes six production fields in Mahakam block.

Gas production reaches 1,300 million standard cubic feet per day (mmscfd) and liquid, namely condensate and oil at 50,000 barrels per day (bpd). "Now it can still meet the target," said Agus in Balikpapan, weekend.

Total E. & P Indonesie, has completed drilling for seven wells throughout 2017. Meanwhile, during the transition period eight drilling has been done until November 2017. The drilling is Pertamina's investment with a target of 14 wells.

"So, until the end of this year there will be 21 production wells located in the Mahakam Block," he said.

ESDM Minister Ignasius Jonan previously asserted that the process of managing the Mahakam block is at stake in national companies in running upstream oil and gas business.

"If the transfer of this management makes the production down drastically then Pertamina's reputation and reputation of our upstream oil and gas will be less positive," said Jonan explained. So far, the natural gas-rich blocks managed by Total E & P Indonesia in collaboration with Inpex.

IN INDONESIA

Kontrak Blok Mahakam Dialihkan ke Pertamina

Nilai kontrak masa transisi mencapai 1,5 miliar dolar AS.

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mengalihkan kontrak pengelolaan Blok Mahakam yang dimiliki Total E&P Indonesia kepada PT Pertamina Hulu Mahakam. Pengalihan kontrak tersebut dilakukan untuk menjaga produksi Blok Mahakam yang saat ini dalam masa transisi pengelolaan.

Deputi Pengendalian Pengadaan SKK Migas Djoko Siswanto mengatakan, Blok Mahakam berkontribusi sebesar 22 persen terhadap produksi gas nasional. Karena itu, proses produksi harus dijaga selama masa transisi, sesuai arahan Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan.

"Menteri ESDM menyampaikan bahwa masa peralihan tidak boleh berdampak kepada semua kegiatan, termasuk procluksi," kata Djoko,

Ahad (5/11).

Menurut Djoko, contract mirroring yang meliputi lebih dari 500 kontrak itu akan memberikan kepastian kesinambungan operasi. SKK Migas menjadwalkan pengalihan kontrak dimulai 1 Januari 2018 dan berlaku selama satu tahun. 

Kepala Divisi Pengelolaan Pengadaan Barang dan Jasa SKK Migas Erwin Suryadi menambahkan, SKK Migas berperan aktif mengawal kebijakan pemerintah terhadap kelangsungan proses transisi Blok Mahakam. Dengan adanya mekanisme pengalihan kontrak, para vendor dapat tetap beraktivitas seperti biasa.

"Mereka memperoleh kepastian kontrak sehingga produksi tetap berjalan," katanya.

Kontrak-kontrak vital yang ada di Blok Mahakam antara lain terkait kontrak sumber daya manusia yang melibatkan hampir 2.000 karyawan. Selain itu, terdapat pula kontrak kapal, rig, dan penunjang operasi lainnya. Secara keseluruhan, nilai kontrak yang tercakup dalam masa transisi ini mencapai lebih dari 1,5 miliar dolar AS atau sekitar Rp 20,2 triliun (kurs Rp 13.497 per dolar AS).

Kontrak Total E&P Indonesie di Blok Mahakam akan berakhir 31 Desember 2017. Selama masa transisi, Pertamina melakukan investasi dengan menambah 14 sumur yang pengeborannya sudah dilakukan sejak Juni 2017.

Ketua Tim Persiapan Pengelolaan Mahakam Judha Sumarianto mengapresiasi langkah cepat SKK Migas. Judha berjanji akan terus menjaga kinerja produksi maupun biaya produksi. Bagian hukum Total E&P Indonesie telah memberikan penjelasan detail mengenai tata cara dan tahapan yang akan dilakukan untuk menyelesaikan proses contract mirroring dari ratusan kontrak yang ada. Diharapkan seluruh proses dapat diselesaikan November 2017

Jaga produksi

Total E&P Indonesie berupaya menjaga laju produksi tetap stabil menjelang prosesi "ganti seragam" di Blok Mahakam. Dua bulan menjelang berakhirnya kontrak, Total E&P Indonesie menyatakan, produksi minyak dan gas bumi di Blok Mahakam masih sesuai target.

Vice President Authorization Coordination, Communication, and External Affairs Total E&P Indonesie Agus Suprijanto menjelaskan, pihaknya masih mengoptimalkan enam lapangan produksi di Blok Mahakam.

Produksi gas mencapai 1.300 million standard cubic feet per day (mmscfd) dan likuid, yakni kondensat dan minyak sebesar 50.000 barel per hari (bph). "Sekarang masih bisa penuhi target," kata Agus di Balikpapan, akhir pekan.

Total E.&P Indonesie, telah merampungkan pengeboran untuk tujuh sumur sepanjang 2017. Sedangkan, selama masa transisi telah dilakukan delapan pengeboran hingga November 2017. Pengeboran tersebut merupakan investasi Pertamina dengan target 14 sumur.

"Maka, hingga akhir tahun ini akan ada 21 sumur produksi yang berada di Blok Mahakam," ujarnya.

Menteri ESDM Ignasius Jonan sebelumnya menegaskan, proses alih kelola Blok Mahakam menjadi pertaruhan perusahaan nasional dalam menjalankan bisnis hulu migas.

"Kalau alih kelola ini membuat produksi turun drastis maka reputasi Pertamina dan reputasi dunia hulu migas kita akan kurang positif," kata Jonan menjelaskan. Selama ini blok yang kaya gas alam tersebut dikelola Total E&P Indonesia berkolaborasi dengan Inpex.

Republika, Page-13, Monday, Nov 6, 2017

The Government Continues to Monitor Oil Prices

The government still will not raise the price of premium fuel, diesel and kerosene until December 31, 2017.

World oil prices tend to rise. It also can not be separated from the government's attention. Director General of Oil and Gas at the Ministry of Energy and Mineral Resources Ego Syahrial said it will continue to monitor and observe the price increase trend.

"The government continues to monitor. Especially towards the end of this December, we monitor the continued movement of oil prices, "said Ego when contacted by Media Indonesia in Jakarta

World oil prices from a number of benchmarks continue to be observed rising. US benchmark, light sweet crude oil (WNY) crude oil (Nymex) reached US $ 55.64 per barrel. Then the global benchmark, namely brent north sea crude oil (ICE), recorded worth US $ 62.07 per barrel.

Earlier, energy observers from the Reforminer Institute Pri Agung Rakhmanto reminded of the world crude oil price movement which continues to rise to above US $ 50 per harel should be wary of the government. This has the potential to suppress the energy subsidy budget in the State Budget (APBN).

"It should be remembered that the macroeconomic indicators in terms of Indonesian crude oil prices (ICP) in the 2017 Revised State Budget and APBN 2018 are set at US $ 48 per barrel. That way, energy subsidy budget in APBN is vulnerable to be exceeded, "he said on Saturday (4/11).

Pri said that in order for energy subsidies to be exceeded, the government must re-adjust the price of fuel at the time of price fluctuations oil world. This is because the world oil price is one of the determinants of fuel prices, in addition to the rupiah exchange rate and inflation.

In dealing with it, Ego said the government is still on the decision not to raise the price of premium fuel, diesel and kerosene until December 31, 2017. No increase until December is in accordance with the Minister of Energy and Mineral Resources Decree Number 3448 K / 12 / MEM / 2017 .

When submitting APBN 2018 some time ago, Finance Minister Sri Mulyani asserted the government still insist on holding back the current price policy or administered prices policy or the upcoming year. This is done to maintain public purchasing power and to control inflation.

View ability

Ego accepts price hikes The world's oil is currently not very influential. However, if the price of oil then rose drastically, such as in the price of US $ 70-US $ 80 / barel, it needs to be wary. However, to make adjustments by raising prices, BBM, decisions will be seen from the country's financial capacity and purchasing power.

"If one day must be wary, the government would think. Suppose the price of oil suddenly rises above a very drastic limit, say US $ 70-US $ 80 / barel. But, if now, not too high even though the government does not turn a blind eye to monitor, "he explained.

Until now, continued Ego, the decision to adjust oil prices is still done four months. "But what the future three months, or longer, or faster, will be done in the near future by monitoring the price of oil, "he concluded.

Earlier economists from Indef Bhima Yudhistira reminded the government that spending on energy subsidies until the end of 2017 potentially not enough with the increase in world crude oil prices. Therefore, adjustments are required.

IN INDONESIA

Pemerintah Terus Pantau Harga Minyak

Pemerintah masih tetap tidak akan menaikkan harga BBM jenis premium, solar, dan minyak tanah hingga 31 Desember 2017.

Harga minyak dunia cenderung naik. Hal itu pun tidak lepas dari perhatian pemerintah. Dirjen Minyak dan Gas Kementerian Energi dan Sumber Daya Mineral Ego Syahrial mengatakan pihaknya akan terus memonitor dan mencermati tren kenaikan harga itu.

“Pemerintah terus monitor. Terutama jelang akhir Desember ini, kita monitor terus pergerakan harga minyak," ujar Ego saat dihubungi Media Indonesia di Jakarta

Harga minyak dunia dari sejumlah patokan terus terpantau naik. Patokan AS, minyak mentah light sweet atau WTI crude oil (Nymex) mencapai US$ 55,64 per barel. Kemudian patokan global, yaitu minyak mentah brent north sea (ICE), tercatat berharga US$ 62,07 per barel.

Sebelumnya, pengamat energi dari Reforminer Institute Pri Agung Rakhmanto mengingatkan pergerakan harga minyak mentah dunia yang terus meningkat hingga di atas US$ 50 per harel harus diwaspadai pemerintah. Hal tersebut berpotensi menekan anggaran subsidi energi dalam anggaran pendapatan dan belanja negara (APBN).

“Perlu diingat bahwa indikator ekonomi makro dari sisi harga minyak mentah Indonesia (ICP) dalam APBN Perubahan 2017 dan APBN 2018 dipatok sebesar US$ 48 per barel. Dengan begitu, anggaran subsidi energi di APBN rentan untuk terlampaui,” ujarnya, Sabtu (4/11).

Pri mengatakan, agar subsidi energi  tidak terlampaui, pemerintah mesti kembali menyesuaikan harga BBM di saat fluktuasi harga minyak dunia. Hal itu disebabkan harga minyak dunia merupakan Salah satu indikator penentu harga BBM, selain nilai tukar rupiah dan inflasi.

Dalam menyikapi hal itu, Ego menyebut pemerintah masih tetap pada keputusan untuk tidak menaikkan harga BBM jenis premium, solar, dan minyak tanah hingga 31 Desember 2017. Tidak adanya kenaikan hingga Desember tersebut sesuai dengan Keputusan Menteri ESDM Nomor 3448 K/12/MEM/2017.

Saat menyampaikan APBN 2018 beberapa waktu lalu, Menteri Keuangan Sri Mulyani menegaskan pemerintah tetap berkukuh menahan kebijakan penyesuaian harga atau administered prices policy saat ini dan tahun mendatang. Hal tersebut ditempuh untuk menjaga daya beli masyarakat serta demi mengendalikan inflasi.

Lihat kemampuan

Ego mengukui kenaikan harga Minyak dunia saat ini tidak terlalu berpengaruh. Namun, jika harga minyak kemudian naik secara drastis,  semisal di harga US$ 70-US$ 80/barel, hal itu perlu baru diwaspadai. Akan tetapi, untuk melakukan penyesuaian dengan menaikkan harga, BBM, keputusan bakal dilihat dari kemampuan keuangan negara dan daya beli masyarakat.

“Kalau suatu saat harus diwaspadai, pemerintah tentu memikirkan. Misalkan harga minyak tiba-tiba naik di atas batas yang sangat drastis, misalkan US$ 70-US$80/barel. Tapi, kalau sekarang, belum terlalu tinggi meski pemerintah tidak menutup mata untuk monitor terus,” jelasnya.

Hingga saat ini, lanjut Ego, keputusan untuk menyesuaikan harga minyak masih dilakukan empat bulan sekali. “Tapi ke depan apakah tiga bulan, atau mau lebih lama, atau lebih cepat, akan dilakukan dalam waktu dekat dengan memonitor harga minyak,” pungkasnya.

Sebelumnya ekonom dari Indef Bhima Yudhistira mengingatkan pemerintah bahwa belanja untuk subsidi energi sampai akhir 2017 berpotensi tidak cukup dengan adanya kenaikan harga minyak mentah dunia. Oleh karena itu, penyesuaian diperlukan.

Media Indonesia, Page-17, Monday, Nov 6, 2017

SKK Migas Initiation of Transfer of Contract in Mahakam Block

Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) initiated a contract mirroring policy to transfer contracts from providers of goods and services owned by Total E & P Indonesie to PT Pertamina Hulu Mahakam.

     The contract mirroring policy covers more than 500 contracts so it will ensure continuous operation in the operational transfer of Mahakam Block from Total E & P Indonesie to PT Pertamina Hulu Mahakam.

The Mahakam Block

"This policy is taken to ensure the sustainability of cumulative production of 18.7 TCF of natural gas and petroleum and condensate amounting to 1.46 GBBLS in Mahakam block, "said Deputy of Controlling Procurement of SKK Migas Djoko Siswanto in Jakarta.

According to him, the policy was taken to maintain the production of Mahakam Block which contributed 22% to the national gas production. In addition, the policy was taken in support of the direction of ESDM Minister Ignasius Jonan who said that the transitional period should not affect all activities, including production.

This contract mirroring policy will commence on 1 January 2018 and is valid for one year. Implementation of the contract was carried out firstly through the submission of SKK Migas Decree which is represented by Head of Procurement Management Division of Erwin Suryadi to the Chairman of Preparation Team of Judakh Sumarianto Management and representatives of Total E & P Indonesia.

"SKK Migas plays an active role in guarding the government's policy towards the continuity of the transition process in the Mahakam block," said Erwin.

IN INDONESIA

SKK Migas Inisiasi Pengalihan Kontrak di Blok Mahakam

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menginisiasi kebijakan contract mirroring untuk mengalihkan kontrak-kontrak dari penyedia barang dan jasa yang dimiliki Total E&P Indonesie kepada PT Pertamina Hulu Mahakam. 

    Kebijakan contract mirroring meliputi Iebih dari 500 kontrak sehingga dipastikan akan memberikan kepastian berkesinambungan operasi dalam pengalihan operasional Blok Mahakam dari Total E&P Indonesie kepada PT Pertamina Hulu Mahakam.

“Kebijakan ini diambil untuk menjamin keberlangsungan produksi kumulatif sebesar 18,7 TCF gas bumi serta minyak bumi dan kondensat sebesar 1,46 GBBLS di Blok Mahakam," ujar Deputi Pengendalian Pengadaan SKK Migas Djoko Siswanto di Jakarta.

Menurut dia, kebijakan tersebut ditempuh untuk menjaga produksi Blok Mahakam yang berkontribusi 22% terhadap produksi gas nasional. Selain itu, kebijakan tersebut diambil mendukung arahan Menteri ESDM Ignasius Jonan yang menyampaikan bahwa masa peralihan tidak boleh berdampak pada semua kegiatan, termasuk produksi.

Kebijakan contract mirroring ini akan dimulai pada 1 Januari 2018 dan berlaku selama satu tahun. Implementasi kontrak tersebut dilaksanakan pertama kali melalui penyerahan Surat keputusan SKK Migas yang diwakili Kepala Divisi Pengelolaan Pengadaan Barang dan Jasa Erwin Suryadi kepada Ketua Tim Persiapan Pengelolaan Mahakam Judha Sumarianto dan perwakilan dari Total E&P Indonesia.

“SKK Migas berperan aktif mengawal kebijakan pemerintah terhadap kelangsungan proses transisi di Blok Mahakam ini ,” ujar Erwin.

Koran Sindo, Page-15, Monday, Nov 6, 2017

Pertamina revises timeline for refineries

Dwi Soetjipto was all smiles when he delivered his remarks prior to the signing of a joint venture agreement between state-owned energy firm Pertamina and Saudi Arabian oil giant Saudi Aramco in Jakarta on Dec. 22, 2016.

The then president director of Pertamina emphasized the importance of expanding domestic refinery capacity in order to achieve energy sovereignty. During the same event, he praised Aramco CEO Amin Nasser for his commitment to jointly upgrade the Cilacap refinery in East Java, estimated to cost US$5.8 billion.

“The project was [initially] targeted to be completed in 2022. But in the last meeting [with Aramco] a few minutes ago, we agreed to complete it in 2021, as challenged by Mr. Nasser,” Dwi said, followed by applause from his colleagues.

Little did Dwi know that, within less than two months, he would be dismissed from his position at Pertamina following alleged infighting with his own deputy that had led to delays in several projects. 

Restructuring specialist Elia Massa Manik soon replaced Dwi in mid-March to clean up the mess, and overhauling Pertamina’s unrealistic timeline for refinery projects amid mounting financial burdens was one of his first tasks.

In addition to the Cilacap project, Pertamina plans to upgrade three other facilities, namely the Balikpapan refinery in East Kalimantan, the Dumai refinery in the Riau Islands and the Balongan refinery in West Java. The energy giant also plans to develop two new refineries, one in Bontang, East Kalimantan, and another in Tuban, East Java.

Pertamina estimates that it will spend around $45 billion on all its refinery projects, which are expected to boost its refined fuel production capacity to 2 million barrels of oil per day (bopd) by 2025 from the current rate of 1 million bopd.

“Right from the start, I said that I didn’t want to make promises that I couldn’t keep. So when I first came in, I started Fixing the schedule of our refinery projects to make them more realistic. Then, everyone said that Pertamina was giving up, but that’s not the case,” Elia said.

He said it was important for Pertamina to make a prudent, realistic plan to ensure smooth developments in its reiineiy projects. Otherwise, each one-year delay would cost the company hundreds of millions of US dollars, Elia added,

Pertamina revealed plans of deadline postponements in June, with the Cilacap project’s completion moved to 2023 from 2021 initially. Meanwhile, the deadline for the new Tuban refinery, worth $15 billion, will be postponed to 2024, three years past the initial targeted date. The Tuban refinery will be developed in cooperation with Russian oil firm Rosneft.

The completion period was extended for both projects as Pertamina is currently renegotiating its agreement with Aramco and Rosneft to conduct joint marketing efforts instead of having Pertamina be the sole off taker for the fuel produced, a move that would significantly increase its debt covenant. 

Recently, Pertamina also announced that the completion of the Balongan and Balikpapan projects would also be delayed to 2023 and 2025, respectively, from previous deadlines of 2021. However, the firm moved the deadline for the Dumai refinery upgrade forward to 2024 from 2025.

Despite the timeline changes, Pertamina has yet to find partners to develop the Balongan, Balikpapan and Dumai refinery projects, each worth an investment of $5 billion to $6 billion.

“These three projects would rely heavily on Pertamina’s financial capacity. So if Pak Elia gives us the green light, we will go on. But if not, we would put them on hold. The timeline has to be adjusted dynamically” Pertamina petrochemical and processing niegaprojects director Ardhy N. Mokobombang said.

Pertamina has projected that its capital expenditure will reach around $10 billion to $ 11 billion a year in the 2019 to 2021 period following the start of the construction of its refinery projects. In 2017, it has only allocated $4.5 billion in capital expenditure.

“We’re talking about $45 billion worth of investments [in refinery projects. So you can call me a liar if I say that Pertamina, which currently has total assets worth only $50 billion, will be able to develop all of those projects by itself within the next eight years. It’s nonsense. We need to create partnerships,” Elia said. As of June, Pertamina’s total liabilities stood at $26.36 billion, up 1.08 percent year-on-year.

Jakarta Post, Page-13, Monday, Nov 6, 2017

Inpex Announces Pre-FEED Preemption of Masela Project

Inpex Masela Ltd announced pre-pre-engineered pre-engineering (pre-FEED) pre-engineering project approval of a liquefied natural gas development project with a landline scheme in Masela Block, Maluku.

Quoted from the "Centralized Integrated Vendor Database" (CIVD) of the Upstream Oil and Gas Executing Unit (SKK Migas) and the Cooperation Contract Contractor (KKKS) in Jakarta on Saturday (4/11), there are two pre-FEED pre- a liquefied natural gas project with an onshore liqufied natural gas (OLNG) in the Masela Block.

First, pre-FEED for OLNG refinery facilities and second is pre-FEED for floating production storage and offloading (FPSO) facilities.

When confirmed, Senior Specialist Media Relations Inpex Corporation Moch N Kurniawan confirmed the pre-FEED Masela pre-qualification invitation.

"We confirm that lnpex has announced a pre-qualification invitation for pre-FEED OLNG and FPSO," he said, as quoted by Antara.

Pre-FEED Masela was done after Inpex received a work order from SKK Migas. The work order states that LNG's landline capacity is set at 9.5 million tons per year (MTPA) and 150 million cubic feet per day (MMSCFD) of piped gas production.

Pre-FEED pre-qualification aims to select qualified bidders in terms of financial and human resources capacity, and have pre-FEED experience. The prequalification invitation is part of the pre-FEED preparation. After the prequalification invitation, the preparatory pre-FEED preparation stage is to obtain approval of the tender plan (TP Plan) from SKK Migas.

After the TP is approved, Inpex conducts a tender or auction by inviting the participant to pass pre-qualification, before the winner of his pre-FEED auction is announced. Then, after the pre-FEED preparation is completed, proceed to pre-FEED, "plan of development" (POD), then FEED, "final investment decision" (FID), "engineering, procurement, construction and installation" EPCI), and finally commissioning or starting production.

Earlier, Minister of Energy and Mineral Resources Ignatius Jonan said he reached three agreements on the Masela Block during his meeting with Inpex Corp. CEO Toshiaki Kitamura in Tokyo, Japan, on October 17, 2017. The three Masela agreements are the government still asks Inpex to develop LNG on land as instructed by President Joko Widodo .

Second, the government will grant a 20-year contract extension to Inpex plus seven years as compensation for the change of LNG plant development from floating to ashore. Finally, the government has given Inpex the opportunity to choose the location of the land LNG plant.

"This Inpex-related decree will give Inpex a 20-year extension, as it is almost out of contract. Coupled with seven years as compensation Iugubah floating refinery development scheme into a refinery, "said Jonan after the meeting.

The Masela Block, signed in 1998, is managed by Inpex as operator with 65 percent ownership and Shell Upstream Overseas Services 35 percent. The government expects Inpex to immediately start the Masela project with the 10.7 trillion cubic feet (TCF) gas reserves.

IN INDONESIA

Inpex Umumkan Prakualifikasi Pre-FEED Proyek Masela  

Inpex Masela Ltd mengumumkan undangan prakualifikasi pra-desain rekayasa awal (pre front end enginering design/pre-FEED) proyek  pengembangan gas alam cair dengan skema darat di Blok Masela, Maluku.

Dikutip dari “Centralized Integrated Vendor Database” (CIVD) Satuan Kerja Khusus Pelaksana Hulu Minyak dan Gas Bumi (SKK Migas) dan Kontraktor Kontrak Kerja Sama (KKKS) di Jakarta, Sabtu (4/11), terdapat dua undangan prakualifikasi pre-FEED untuk proyek gas alam cair dengan skema darat (onshore liqufied natural gas/OLNG) di Blok Masela tersebut. 

Pertama, pre-FEED untuk fasilitas kilang OLNG dan kedua adalah pre-FEED untuk fasilitas produksi gas terapung (floating production storage and offloading/FPSO).

Saat dikonfirinasi, Senior Specialist Media Relations Inpex Corporation Moch N Kurniawan membenarkan undangan prakualiflkasi pre-FEED Masela tersebut. 

“Kami mengonfirmasi bahwa lnpex telah mengumumkan undangan prapkualifikasi untuk pre-FEED OLNG dan FPSO,” katanya, seperti dikutip Antara.

Pre-FEED Masela itu dilakukan setelah Inpex menerima Surat perintah kerja dari SKK Migas. Surat perintah kerja itu menyebutkan kapasitas kilang darat LNG ditetapkan 9,5 juta ton per tahun (MTPA) dan produksi gas pipa sebesar 150 juta kaki kubik per hari (MMSCFD).

Prakualifikasi pre-FEED bertujuan memilih peserta tender yang masuk kualifikasi dari sisi kemampuan keuangan dan sumber daya manusia, serta mempunyai pengalaman melakukan pre-FEED. Undangan prakualifikasi tersebut merupakan bagian dari persiapan pre-FEED. Setelah undangan prakualifikasi, tahap persiapan pre-FEED selenjutnya adalah mendapatkan persetujuan rencana tender (tender plan/TP) dari SKK Migas.

Setelah TP disetujui, Inpex melakukan tender atau lelang dengan mengundang peserta lolos prakualifikasi, sebelum ditetapkan pemenang lelang pre-FEED-nya. Kemudian, setelah persiapan pre-FEED selesai, dilanjutkan ke pengerjaan pre-FEED, “plan of development” (POD), kemudian FEED-nya, “final investment decision” (FID), “engineering, procurement, construction, and installation” (EPCI), dan akhirnya komisioning atau mulai berproduksi.

Sebelumnya, Menteri ESDM Ignasius Jonan mengatakan dirinya mencapai tiga kesepakatan soal Blok Masela dalam pertemuannya dengan CEO Inpex Corp Toshiaki Kitamura di Tokyo, Jepang, pada 17 Oktober 2017. Ketiga kesepakatan Masela tersebut adalah pemerintah tetap meminta Inpex mengembangkan LNG di darat sesuai instruksi Presiden Joko Widodo.

Kedua, pemerintah akan memberikan perpanjangan kontrak selama 20 tahun kepada Inpex ditambah tujuh tahun sebagai kompensasi atas perubahan pengembangan kilang LNG dari terapung menjadi darat. Terakhir, pemerintah memberikan keleluasaan Inpex memilih lokasi kilang LNG darat tersebut.

“Keputusan terkait Inpex ini, akan memberikan perpanjangan 20 tahun kepada Inpex,  karena sudah hampir habis masa kontraknya. Ditambah dengan tujuh tahun sebagai kompensasi meugubah skema pengembangan kilang terapung menjadi kilang darat,” kata Jonan usai pertemuan.

Blok Masela yang ditandatangani pada 1998 dikelola Inpex sebagai operator dengan kepemilikan 65 persen dan Shell Upstream Overseas Services 35 persen. Pemerintah berharap Inpex segera memulai proyek Masela dengan cadangan gas sebesar 10,7 triliun kaki kubik (trillion cubic feet/TCF) tersebut.

Investor Daily, Page-9, Monday, Nov 6, 2017

Humpuss to Work on Java Floating Gas Floor 1

PT Humpuss Intermoda Transportasi Tbk (HITS) has shared with Exmar Marine NV NicoIas Saverys on October 10 last. They invest in floating gas terminal project Floating storage regasyicalion unit (FSRU) Gas Steam Power Plant (PLTGU) Java 1.

Just so you know, the operator of PLTGU Java I with a capacity of 1760 Megawatts (MW) is a consortium of Pertamina, Marubeni, Sojitz. The power plant project costs around US $ 1.8 billion. Meanwhile, Perusahaan Listrik Negara (PLN) has prepared the gas needs of PLTGU Java I from BP Tangguh.

President Director of PT Humpus Intermoda Transportasi Tbk Theo Lekatompessy said, with this cooperation HITS or Indonesia can get the source of FSRU technology and unlimited from Asian countries.

"In the LNG transport business, we have partnered with MOL Tokyo since 1985," he told KONTAN on Saturday (4/11).

Thoo revealed, it can not predict the end result of FRSU project for gas needs of PLTGU Java l.

"I can not say openly whether I won the PLN project or not yet, the official letter has not been issued from PLN," said Theo.

He said the official letter of the winner of FSRU auction of PLTGU Java I project is expected to come from PLN and Pertamina in the first quarter of 2018. Unfortunately, Humpuss does not want to disclose the total investment of FSRU for PLTGU Java I.

In addition to the FSRU PLTGU Java I project, Theo said it is also eyeing the potential of other FSRU projects to be auctioned between the period of 2017 to 2020. The project is located in the northern Philippines, southern Myanmar, eastern and central PLN, as well as other SOE projects with Indonesia and Asean market coverage.

"Asean market is about US $ 400 million, Projects can not be disclosed because there is a confidentiality agreement and business secret

reason, "he explained.

And the various projects, according to Theo, it requires funding of about US $ 300 million from loans. For creditors, it's not a local bank. Given that local banks set interest rates up to 12%. It has not yet calculated in detail the feasibility of the FSRU project.

"Revenue if the IRR (rate of return) 11% can not be calculated whether feasible or not," he said.

Despite the unattractive condition of the shipping industry, in the third quarter of 2017, HITS posted revenue growth of 20.68 percent to US $ 51.07 million. While earnings attributable to owners of the parent company shot 55%. From US $ 3.5 million in

in the third quarter of 2016 to US $ 4.85 million in the third quarter of 2017.

IN INDONESIA

Humpuss Akan Garap Terminal Gas Terapung Jawa 1

PT Humpuss Intermoda Transportasi Tbk (HITS) sudah berkongsi dengan Exmar Marine NV NicoIas Saverys pada 10 Oktober lalu. Mereka berinvestasi dalam proyek terminal gas terapung Floating storage regasyicalion unit (FSRU) Pembangkit Listrik Tenaga Gas Uap (PLTGU) Jawa 1.

Asal tahu saja, operator PLTGU Jawa I berkapasitas 1.760 Megawatt (MW) adalah konsorsium Pertamina, Marubeni, Sojitz. Proyek pembangkit ini menelan biaya sekitar US$ 1,8 miliar. Sementara Perusahaan Listrik Negara (PLN) sudah menyiapkan kebutuhan gas PLTGU Jawa I tersebut dari BP Tangguh.

Direktur Utama PT Humpus Intermoda Transportasi Tbk Theo Lekatompessy mengatakan, dengan kerjasama ini HITS atau Indonesia bisa

mendapatkan sumber teknologi FSRU dan tidak terbatas dari negara-negara Asia. 

"Di bisnis angkutan LNG, kami sudah bermitra dengan MOL Tokyo sejak tahun 1985," ungkapnya ke KONTAN, Sabtu (4/11).

Thoo mengungkapkan, pihaknya belum bisa memprediksi hasil akhir proyek FRSU untuk kebutuhan gas PLTGU Jawa l tersebut. 

"Saya tidak bisa bilang secara terbuka. Apakah sudah menang di proyek PLN atau belum. Surat resminya belum keluar dari PLN," kata Theo. 

Dia bilang, surat resmi pemenang lelang FSRU proyek PLTGU Jawa I diharapkan terbit dari PLN dan Pertamina pada kuartal I-2018. Sayangnya, Humpuss belum mau mengungkapkan total investasi FSRU untuk PLTGU Jawa I.

Selain proyek FSRU PLTGU Jawa I itu, Theo mengungkapkan pihaknya juga mengincar potensi proyek untuk FSRU lain yang akan dilelang antara kurun waktu tahun 2017 sampai 2020 mendatang. Proyek itu terletak di Filipina utara, Myanmar selatan, PLN wilayah timur dan tengah, Serta proyek BUMN lain dengan cakupan pasar Indonesia dan Asean. 

"Pasar Asean itu sekitar US$ 400 juta, Proyek-proyek tidak bisa di disclose karena ada confidentiality agreement and business secret reason," jelasnya.

Dan berbagai proyek tersebut, menurut Theo, pihaknya membutuhkan dana sekitar US$ 300 juta yang berasal dari pinjaman. Untuk kreditur, rasanya tidak bank lokal. Mengingat bank lokal menetapkan bunga pinjaman hingga 12%. Pihaknya belum menghitung secara mendetail kelayakan proyek FSRU itu. 

"Pendapatan kalau IRR (tingkat pengembalian) 11% belum bisa dihitung apakah layak atau tidak," katanya.

Meski kondisi industri perkapalan masih tidak menarik, di kuartal III-2017, HITS mampu mencatatkan pertumbuhan pendapatan sekitar 20,68% menjadi US$ 51,07 juta. Sedangkan laba yang dapat diatribusikan ke pemilik entitas induk melesat 55%. Dari US$ 3,5 juta di kuartal III-2016 menjadi US$ 4,85 juta di kuartal III-2017. 

Kontan, Page-13, Monday, Nov 6, 2017

Total Immediately Leave at Mahakam

The Mahakam Block transition continues. Such as ensuring employees and service contractors in the Mahakam Block still get certainty. One of the main focuses of Pertamina Hulu Mahakam is to ensure production does not go down after the transfer of contract on January 1, 2018.

In less than two months, PT Pertamina Hulu Mahakam officially took over the ownership of the Mahakam Block operator from Total EP Indonesia. The half-century total being the operator of the Mahakam should lift the suitcase from the block. This occurred after in 2015 the government decided to grant the right to manage the Mahakam block to Pertamina.

From that moment to the present, the transition period continues. One of the most important transitions is ensuring that all employees of Total EP Indonesie in the Mahakam block obtain new & new employment contracts from Pertamina.

Vice President of Authorization Coordination, Communication and External Affairs Total E & P Indonesie Agus Suprijanto asserted that all employees in Mahakam block get a working contract from Pertamina Hulu Mahakam.

Currently there are about 1,000 workers Total EP Indonesie in the Mahakam Block has been offered a new contract by Pertamina. The majority of workers are willing to release the status of their employees in French companies and become human Pertamina. Only about 20 employees of Total EP Indonesie refused to join Pertamina for various reasons. One of them for wanting to retire.

In addition to the workers, the contractors working in the Mahakam Block have also signed a contract with Pertamina Hulu Mahakam. With so expected, the transition of the Mahakam Block in early 2018 can run smoothly.

"The contractor is running, the rig is already running, if everything goes, yes it is smooth (the transition)," said Agus, last week.

He asserted, Total absence after 2017 will not affect the operation of the block. Because Total has released the employment status of workers in the Mahakam Block.

"We as of December 31 are no longer Total employees," he stressed.

So does the contract of contractors in the Mahakam Block. Agus even said next year the number of rigs operating in the Mahakam block will increase. If there are currently only two rigs in operation, next year there will be five rigs. This is in line with the number of well drilling that will be more done next year.

"We're talking from two offshore rigs and three swamp rigs to five rigs - our wells now are from 14 to 65 next year. So it triples, "he said.

Meanwhile, Upstream Director of Pertamina Syamsu Alam revealed, it is ready to take care of its own Mahakam Block without Total EP and lnpex. But he heard, Total and Inpex are still interested in sharing in Mahakam.

Pertamina's President Director, Masia Manik, said production in the Mahakam block is dependent on wells. The more wells are drilled, the production will increase. The Mahakam Block production is currently around 800 mmscfd, because in mid 2015 Total did not add wells.

"But I am sure, can return to 1,200 mmscfd again," he said.

IN INDONESIA

Total Segera Angkat Koper di Mahakam

Transisi Blok Mahakam terus dilakukan. Seperti memastikan karyawan dan para kontraktor jasa di Blok Mahakam tetap mendapat kepastian. Salah satu fokus utama Pertamina Hulu Mahakam adalah memastikan produksi tidak turun pasca beralihnya kontrak pada 1 Januari 2018 mendatang.

Kurang dua bulan lagi, PT Pertamina Hulu Mahakam resmi mengambilalih kepemilikan operator Blok Mahakam dari Total EP Indonesia. Total yang telah setengah abad menjadi operator Mahakam harus angkat koper dari blok tersebut. Ini terjadi setelah pada tahun 2015 lalu pemerintah memutuskan memberi hak kelola Blok Mahakam kepada Pertamina.

Sejak saat itu hingga saat ini, masa transisi terus berlangsung. Salah satu transisi paling penting adalah memastikan seluruh karyawan Total EP Indonesie di Blok Mahakam mendapatkan kontrak kerja & baru dari Pertamina.

The Mahakam Block

Vice President Authorization Coordination, Communication, and External Affairs Total E&P Indonesie Agus Suprijanto menegaskan, seluruh karyawan di Blok Mahakam mendapatkan penawaran kontrak kerja dari Pertamina Hulu Mahakam.

Saat ini ada sekitar 1.000 orang pekerja Total EP Indonesie di Blok Mahakam sudah ditawari kontrak kerja baru oleh Pertamina. Mayoritas para pekerja tersebut rela melepas status karyawan mereka di perusahaan asal Prancis dan menjadi insan Pertamina. Hanya ada sekitar 20-an karyawan Total EP Indonesie menolak bergabung ke Pertamina karena berbagai alasan. Salah satunya karena ingin pensiun.

Selain pekerja, para kontraktor yang bekerja di Blok Mahakam juga telah menandatangani kontrak dengan Pertamina Hulu Mahakam. Dengan begitu diharapkan, transisi Blok Mahakam awal tahun 2018 bisa berjalan lancar. 

"Kontraktor sudah jalan, rig sudah berjalan, kalau semuanya jalan, ya memang smooth (transisi-nya)," terang Agus, pekan lalu. 

Ia menegaskan, ketiadaan Total setelah 2017 tidak akan berpengaruh pada operasi blok tersebut. Pasalnya, Total telah melepas status kepegawaian pekerja di Blok Mahakam. 

"Kami per 31 Desember sudah bukan lagi karyawan Total," tegas dia.

Begitu juga dengan kontrak para kontraktor di Blok Mahakam. Agus bahkan bilang pada tahun depan jumlah rig yang beroperasi di Blok Mahakam akan bertambah. Jika saat ini hanya ada dua rig beroperasi, tahun depan akan ada lima rig. Ini sejalan dengan jumlah pengeboran sumur yang akan lebih banyak dilakukan pada tahun depan. 

"Kami bicara dari dua rig offshore dan tiga rig swamp menjadi lima rig. Sumur kita sekarang dari 14 menjadi 65 di tahun depan.

Jadi naik tiga kali lipat," ujarnya.

Sementara Direktur Hulu Pertamina Syamsu Alam mengungkapkan, pihaknya siap mengurus Blok Mahakam sendiri tanpa Total EP dan lnpex. Tapi ia mendengar, Total dan Inpex masih berminat berkongsi di Mahakam.

Direktur Utama Pertamina Elia Massa Manik menyatakan, produksi di Blok Mahakam tergantung dengan sumur. Semakin banyak sumur yang dibor, produksi akan meningkat. Produksi Blok Mahakam saat ini sekitar 800 mmscfd, itu karena pada pertengahan tahun 2015 lalu Total tidak menambah sumur. 

"Tapi saya yakin, bisa kembali ke 1.200 mmscfd lagi," katanya.

Kontan, Page-14, Monday, Nov 6, 2017