Gross Split Makes Slight Investment

The Ministry of Energy and Mineral Resources (ESDM) is missteping its policy. At a time when oil prices fell in January instead of issuing contracts for the results of gross split is not popular. As a result, the auction held until November 2017 no one is interested.

Upstream oil and gas investment this year is very unattractive. This is seen from the auction of oil and gas blocks that have been done by the Ministry of Energy and Mineral Resources (ESDM) since last May 2017. The auction has been extended three times, because no one is interested.

Oil and Gas Director General of the Ministry of Energy and Mineral Resources Ego Syahrial said that his party has delayed the submission deadline of 15 blocks of oil and gas until December 31, 2017. Previously, the oil and gas block auction is targeted for completion on 27 November.

"We postpone until December 31, 2017 so that there is enough time, he reasoned, postponed the auction time as investors are still waiting for the certainty of the Government Regulation (PP) regulation on gross split taxation.

Energy Observer Pri Agung Rakhmanto explained that the current upstream oil and gas investment climate in Indonesia has not improved, especially since the scheme of the contract for the gross split by Minister of Energy and Mineral Resources No 8/2017 issued in January. The date is the deadline for submission of the auction document.

He reasoned, delayed auction time as investors are still waiting for the certainty of the Government Regulation (PP) draft on gross split taxation.

"Since the implementation of the gross split scheme, the condition is not getting better and it is increasingly not conducive because it adds to the uncertainty that exists," said Pri Agung Monday (20/11).

According to Pri Agung, the uncertainty increases because of the economic count that changes with the new type of gross split contract.

"Investors or contractors should recalculate their investment plans and portfolios," he said.

In addition, investment uncertainty in the upstream oil and gas sector is also emerging as a result of gross split contracts still require other provisions that have not been proven until now. For example in the case of tax rules for sharing contracts for gross split.

"So, if the auction is to be extended later, it is not a matter of a proper or inappropriate step, but it clearly indicates that the upstream oil and gas investment climate is not conducive to attract investment," he explained.

IN INDONESIA

Gross Split Membuat Investasi Suram

Kementerian Energi dan Sumber Daya Mineral (ESDM) salah langkah dalam mengambil kebijakan. Di saat harga minyak turun pada Januari lalu malah menerbitkan kontrak bagi hasil gross split yang tidak popular. Hasilnya, lelang yang diselenggarakan sampai November 2017 tidak ada yang berminat.

Investasi hulu migas tahun ini sangat tidak menarik. Ini terlihat dari lelang blok migas yang sudah dilakukan Kementerian Energi dan Sumber Daya Mineral (ESDM) sejak Mei 2017 lalu. Lelang sudah tiga kali diperpanjang, lantaran tidak ada yang berminat.

Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM, Ego Syahrial mengatakan pihaknya kembali menunda batas penyerahan dokumen lelang 15 blok migas sampai 31 Desember 2017. Sebelumnya, lelang blok migas ditargetkan selesai pada 27 November.

"Kita tunda sampai 31 Desember 2017 agar ada waktu yang cukup. Dia beralasan, ditundanya waktu lelang karena para investor masih menunggu kepastian rancangan Peraturan Pemerintah (PP) mengenai perpajakan gross split.

Pengamat Energi Pri Agung Rakhmanto menerangkan, iklim investasi hulu migas Indonesia saat ini belum juga membaik, terutama sejak adanya skema kontrak bagi hasil gross split melalui Peraturan Menteri ESDM No 8/2017 yang diterbitkan Januari lalu. Tanggal itu merupakan batas waktu penyerahan dokumen lelang.

Dia beralasan, tertundanya waktu lelang karena para investor masih menunggu kepastian rancangan Peraturan Pemerintah (PP) mengenai perpajakan gross split.

"Sejak diberlakukan skema gross split, kondisinya tidak semakin membaik dan justru semakin tidak kondusif karena menambah ketidakpastian yang ada," ujar Pri Agung Senin (20/11).

Menurut Pri Agung, ketidakpastian bertambah karena adanya hitungan keekonomian yang berubah dengan adanya kontrak jenis baru gross split. 

"Investor atau kontraktor harus menghitung ulang lagi rencana-rencana dan portofolio investasi mereka," ujarnya.

Selain itu, ketidakpastian investasi di sektor hulu migas juga muncul akibat kontrak gross split masih memerlukan aturan-aturan lain yang terbukti sampai sekarang belum selesai. Misalnya dalam hal aturan pajak untuk kontrak bagi hasil gross split.

"Jadi, kalau kemudian lelang harus diperpanjang, ini bukan masalah langkah ini tepat atau tidak tepat. Tetapi hal itu mengindikasikan dengan jelas, iklim investasi hulu migas memang belum kondusif untuk menarik investasi" terangnya.

Kontan, Page-14, Wednesday, Nov 22, 2017

Illegal Oil Well Closed

An integrated government team in South Sumatra province closed 17 illegal oil wells in the working area of ​​Pertamina EP in Babat Toman Sub-district, Musi Banyuasin Regency, Tuesday (21/11). This closure is the last stage of the operation of 104 illegal oil wells closure last year.

This is to secure state assets and minimize the risk of exploding illegal wells. Public Relations Manager of Pertamina EP, Muhammad Baron, contacted from Palembang, explaining the illegal well control is done in a number of Pertamina EP work areas. The closure is done by an integrated team consisting of elements of South Sumatera Provincial Government.

Musi Banyuasin District Government, SKK Migas Sumatra Part Selatab and Pertamina EP and police and the Indonesian National Army (TNI) based on South Sumatera Governor Decree Number 713 / KPTS / DESDM / 2017 The first phase closure was conducted in November 2016.

There are 70 illegal old wells that are closed. Next, April 2012 17 illegal oil wells are closed. Last yesterday (11/21/2017), 17 more wells will be closed.

"Thus, all illegal wells in the Pertamina EP area have been curbed," Baron said.

According to Baron, all old wells that are still in production are handed over by state to Pertamina to be managed.

"The well is a suspended status (suspended) where at any time can be used to be managed," he said.

Difficult to monitor

So far, people use the oil wells because the location of the well is near the settlement. However, the location of the well away from the highway is difficult to observe.

To ensure no more illegal mining of old wells has been curbed, Baron said, it would coordinate with local security forces to patrol regularly.

"In addition, socialization continues to be done to make people aware that the well is a state asset," he said.

Head of Mining and Energy Resources of Mineral Resources (ESDM) South Sumatra Robert Heri said the activities of old miners of old well or illegal oil drilling is often the case in Musi Banyuasin.

The provincial government noted, there are at least 350 old wells and illegal oil drilling in Musi Banyuasin. Activity that has occurred continuously after the Dutch colonial period in Indonesia.

As a result of illegal mining, the last year occurred three times the explosion of illegal wells in Musi Banyuasin Regency. The explosion resulted in Iuka's victim, even dead. Therefore, the government decided to close the illegal wells. In addition, illegal mining does not increase the cash revenue of the local government.

In addition to Musi Banyuasin, illegal oil well closing is planned to be carried out by the government in the regency of Penukal Abab Lematang Ilir, Musi Rawas, and Musi Rawas Utara.

IN INDONESIA

Sumur Minyak Ilegal Ditutup

Tim terpadu pemerintah di Provinsi Sumatera Selatan menutup 17 sumur minyak ilegal di Wilayah kerja Pertamina EP di Kecamatan Babat Toman, Kabupaten Musi Banyuasin, Selasa (21/11). Penutupan ini merupakan tahap terakhir dari operasi penutupan 104 sumur minyak ilegal yang berlangsung setahun terakhir.

Hal ini untuk mengamankan aset negara dan meminimalkan risiko meledaknya sumur ilegal. Manajer Humas Pertamina EP Muhammad Baron dihubungi dari Palembang, menjelaskan penertiban sumur ilegal dilakukan di sejumlah area kerja Pertamina EP. Penutupan dilakukan tim terpadu yang terdiri dari unsur Pemerintah Provinsi Sumatera Selatan. 

Pemerintah Kabupaten Musi Banyuasin, SKK Migas Sumatra Bagian Selatab dan Pertamina EP Serta kepolisian dan Tentara Nasional Indonesia (TNI) berdasarkan Surat Keputusan Gubernur Sumatera Selatan Nomor 713/KPTS/DESDM/2017 Penutupan tahap pertama dilakukan pada November 2016.

Ada 70 sumur tua ilegal yang ditutup. Selanjutnya, April 2012 17 sumur minyak ilegal ditutup. Terakhir kemarin (21/11/2017), 17 sumur lagi akan ditutup. 

”Dengan demikian, semua sumur ilegal di area Pertamina EP sudah ditertibkan,” ujar Baron.

Menurut Baron, semua sumur tua yang masih berproduksi diserahkan negara kepada Pertamina untuk dikelola. 

”Sumur itu berstatus suspended (ditangguhkan) di mana sewaktu-waktu dapat digunakan untuk dikelola,” katanya.

Sulit dipantau

Selama ini masyarakat memanfaatkan sumur-sumur minyak tersebut karena Iokasi sumur berada di dekat permukiman penduduk. Namun, Iokasi sumur jauh dari jalan raya sehingga sulit terpantau.

Untuk memastikan tidak ada lagi penambangan ilegal pada sumur-sumur tua yang telah ditertibkan, menurut Baron, pihaknya akan melakukan koordinasi dengan aparat keamanan setempat untuk melakukan patroli secara berkala.

”Selain itu, sosialisasi terus didilakukan untuk menyadarkan masyarakat bahwa sumur tersebut merupakan aset negara,” ujarnya.

Kepala Dinas Pertambangan dan Energi Sumber Daya Mineral (ESDM) Sumatera Selatan Robert Heri mengatakan, aktivitas penambang sumur tua atau pengeboran minyak secara ilegal memang kerap terjadi di Musi Banyuasin. 

Pemerintah Provinsi mencatat, setidaknya ada 350 sumur tua dan pengeboran minyak ilegal di Musi Banyuasin. Aktivitas itu sudah terjadi secara terus menerus setelah masa penjajahan kolonial Belanda di Indonesia.

Akibat penambangan ilegal, setahun terakhir terjadi tiga kali ledakan sumur ilegal di Kabupaten Musi Banyuasin. Ledakan mengakibatkan korban Iuka, bahkan tewas. Oleh karena itu, pemerintah memutuskan menutup sumur ilegal. Selain itu, penambangan ilegal tidak menambah pendapatan kas pemerintah daerah setempat.

Selain di Musi Banyuasin, penutupan sumur minyak ilegal direncanakan akan dilakukan pemerintah di Kabupaten Penukal Abab Lematang Ilir, Musi Rawas, dan Musi Rawas Utara. 

Kompas, Page-22, Wednesday, Nov 22, 2017

Auction 15 Oil and Gas Working Area is Extended

Oil and gas companies incorporated in the Indonesia Petroleum Association (IPA) assessed the auction time of the prolonged phase of oil and gas Working Area (WK) of oil and gas 2017 as a natural thing.

Because the Government Regulation (PP) tax-related scheme for gross split results until now has not been completed.

"So this gives an opportunity for investors to be certainty first.Approved by this PP, we hope that from investors can evaluate and prepare their respective business," said LPA Secretary Ronald Gunawan, in Damar Room, Heritage Building, Ministry of ESDM, Jakarta, Tuesday (21/11/2017).

IN INDONESIA

Lelang 15 Wilayah Kerja Migas Diperpanjang

Perusahaan minyak dan gas bumi (migas) yang tergabung dalam Indonesia Petroleum Association (IPA) menilai waktu lelang Wilayah Kerja (WK) migas tahap l 2017 yang diperpanjang sebagai sesuatu yang wajar.

Pasalnya, Peraturan Pernerintah (PP) terkait pajak skema bagi hasil gross split hingga kini belum juga selesai.

"Jadi ini memberi kesempatan pada investor untuk dapat kepastian dulu. Dengan disetujui PP ini, kami harap supaya dari investor bisa evaluasi dan menyiapkan bisnis masing-masing," ujar Sekretaris lPA Ronald Gunawan, di Ruang Damar, Gedung Heritage, Kementerian ESDM, Jakarta, Selasa (21/11/2017).

Harian Bangsa, Page-4, Wednesday, Nov 22, 2017

Gas Price Rejects Investment Rate

High gas prices curbed investors' interest to invest in the chemical sector.

The pharmaceutical chemical sector is supporting investment in clusters of chemical, textile and miscellaneous industries. Investments in the chemical, textile and miscellaneous industries (IKTA) in the period from January to September this year reached Rp 66.7 trillion.

The realization of such investment is around 60% from last year's achievement of Rp 111.36 trillion. The investment for three quarters includes domestic investment of Rp 22.2 trillion, and foreign investment worth Rp 44.48 trillion.

The Director General of Textile and Multifarious Chemical Industry, Achmad Sigit Dwiwahjono, said that the chemical and pharmaceutical industry is one of the biggest contributors to investment. However, investment in upstream chemical sector which is relatively capital intensive is still constrained by the issue of certainty of gas price.

"Petrochemical projects for example, meneka choose to wait until there is certainty of gas prices feasible. But, for the government the slowest development of the petrochemical industry is 2020 must be on stream, "he said Tuesday (21/11).

Investments in chemical and pharmaceutical industries contribute the most to the overall sector of IKTA. The industrial sector absorbed investment of Rp 39.59 trillion until the third quarter of this year. Over the past year, the sector was able to absorb investment of Rp 69.68 trillion.

"Actually there may be one pharmaceutical pablik asking to be unveiled at the end of this year. But we will see again, "he said.

Significant increase in investment realization began to be felt in the textile industry sector. Investments in the textile industry reached Rp 10.23 trillion. This figure has even exceeded the realization of textile investment throughout 2016 worth Rp 7.62 trillion.

Investments in the leather and footwear manufacturing sector also surpassed the realization of last year's investment. The realization of investment in labor-intensive industrial sector was recorded at Rp 3.57 trillion, exceeding the realization of investment in 2016 worth Rp 2.05 trillion.

Meanwhile, the non-metallic minerals industry reached Rp11.52 trillion. The realization of capital investment in non-metallic excavation sector in 2016 was recorded at Rp 30.24 trillion. The high gas price is also one of the factors causing the growth rate of non-metallic mining industry investment such as cement, glass and ceramics manufacturers.

"Whereas the demand for the construction sector for non-metallic minerals here is actually very strong," he said.

Another challenge for the chemical, textile and miscellaneous industries is the deficit in the availability of local raw materials. A number of sectors that depend on imported raw materials include, such as pharmaceuticals, footwear and textiles.

"This is also really need to be anticipated in order to substitute import raw materials," he said.

BUSINESS EXPANSION

The government seeks to accelerate the development of the petrochemical industry in the country. Director of Upstream Chemical Industry Ministry of Industry Muhammad Khayam said there are two petrochemical manufacturers that are expanding.

The two companies are PT Chandra Asri Petrochemical Tbk. and Lotte Chemical Titan. Both are preparing the construction of a naphtha cracker factory in Cilegon.

"Well only we do not want to just rely on the plans of the two companies only. So the government encourages more investment into the petrochemical sector, "said Director of Upstream Chemical Industry Ministry of Industry Muhammad Khayam Monday (20/11)

According to him, foreign manufacturers who intend to invest in Indonesia want the development of gas-based petrochemical industry because naphtha petrochemical plant is vulnerable to fluctuations in world oil prices that impact on the decrease in margin.

Fajar Budiyono, secretary general of the Aromatic Association of Olefin and Plastics Indonesia, said that currently more than 50% of total raw material needs are still met by imports. The need for polypropylene for example reaches 1.6 million tons. Of this number, which can be produced by domestic producers only 700,000 tons.

Similarly, the needs of polyethylene (PE) of 1.5 million tons and can only be met in the country of 800,000 tons.

"In total for plastic polymer needs 5.56 million tons and domestic production only at 2.2 million tons, the rest is still imported," he said.

Meanwhile, Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said it is not easy to reach upstream prices of less than US $ 6 per MMBtu. Meanwhile, on some occasions, gas industry players often request that the Ministry of Energy and Mineral Resources can suppress the prices that meet the industrial economy. Farmers demanded that upstream gas prices be sold at US $ 3 per MMBtu.

"For example, the fertilizer industry at every opportunity is always asking for a cheap price.they come to me, please make the gas price of US $ 3. How?" he said when giving a speech at the Indonesia Gas & LNG Buyers Summit event at Shangri-la Hotel, Jakarta, Tuesday (21/11).

According to him, the price as low as it can only be from the blessing of the finance minister because it needs to cut the state revenue from the oil and gas sector. The reason, he said if it suppresses the price is too low, there will be no investors in the upstream sector who will be interested to develop gas fields that will be able to supply gas for the industry.

IN INDONESIA

Harga Gas Menahan Laju lnvestasi

Harga gas yang tinggi menahan minat investor untuk menanamkan modal di sektor kimia.

Sektor kimia bersama farmasi menjadi pendukung penanaman modal di klaster industri kimia, teksil dan aneka. Penanaman modal pada sektor industri kimia, tekstil, dan aneka (IKTA) pada periode Januari-September tahun ini tercatat mencapai Rp 66,7 triliun.

Realisasi investasi tersebut sekitar 60% dari pencapaian tahun lalu senilai Rp 111,36 triliun. Penanaman modal tersebut selama tiga kuartal meliputi penanaman modal dalam negeri senilai Rp 22,2S triliun, dan penanaman modal asing senilai Rp 44,48 triliun.

Dirjen Industri Kimia Tekstil dan Aneka Kementerian Perindustrian Achmad Sigit Dwiwahjono menyatakan industri kimia dan farmasi merupakan salah satu penyumbang terbesar investasi. Hanya saja, investasi pada sektor kimia hulu yang relatif padat modal masih terkendala persoalan kepastian harga gas.

“Proyek petrokimia misalnya, meneka memilih menunggu sampai ada kepastian harga gasnya feasible. Tapi, bagi pemerintah paling lambat pembangunan industri petrokimia itu 2020 sudah harus on stream,” ujarnya Selasa (21/11).

Penanaman modal di industri kimia dan farmasi berkontribusi paling tinggi terhadap keseluruhan sektor IKTA. Sektor industri tersebut menyerap investasi senilai Rp 39,59 triliun sampai kuartal ketiga tahun ini. Sepanjang tahun lalu, sektor tersebut mampu menyerap investasi senilai Rp 69,68 triliun.

“Sebenarnya kemungkinan ada satu pablik farmasi yang meminta untuk diresmikan di akhir tahun ini. Tapi nanti kami lihat lagi,” ujarnya.

Kenaikan realisasi investasi yang signifikan mulai terasa pada sektor industri tekstil. Penanaman modal pada industri tekstil mencapai Rp 10,23 triliun. Angka tersebut bahkan sudah melampaui realisasi investasi tekstil sepanjang 2016 senilai Rp 7,62 triliun.

lnvestasi pada sektor industri kulit dan alas kaki juga tercatat sudah melampaui realisasi investasi pada tahun lalu. Realisasi investasi sektor industri padat karya tersebut tercatat senilai Rp 3,57 triliun, melebihi realisasi investasi pada 2016 senilai Rp 2,05 triliun.

Sementara itu, industri mineral non-logam mencapai Rp11,52 triliun. Realisasi penanaman modal pada sektor industri galian non-logam pada 2016 tercatat senilai Rp 30,24 trililun. Tingginya harga gas juga menjadi salah satu faktor penyebab melandainya laju penumbuhan investasi industri galian non-logam seperti pabrikan semen, kaca, dan keramik. 

“Padahal permintaan sektor konstruksi untuk barang galian non-logam di sini itu sebenarnya kuat sekali," ujarnya.

Tantangan lain bagi industri kimia, tekstil, dan aneka adalah defisit ketersediaan bahan baku lokal. Sejumlah sektor yang bergantung terhadap bahan baku impor di antaranya, seperti farmasi, alas kaki, dan tekstil. 

“Ini yang juga sebenarnya perlu diantisipasi supaya bisa mensubstitusi raw material impor,” ujarnya.

EKSPANSI USAHA

Pemerintah berupaya untuk mengakselerasi pengembangan industri petrokimia di dalam negeri. Direktur Industri Kimia Hulu Kementerian Perindustrian Muhammad Khayam menyatakan terdapat dua pabrikan petrokimia yang sedang melakukan ekspansi.

Dua perusahaan itu adalah PT Chandra Asri Petrochemical Tbk. dan Lotte Chemical Titan. Keduanya sedang mempersiapkan pembangunan pabrik naphtha cracker di Cilegon.

“Nah hanya memang kita tidak mau hanya bertumpu terhadap rencana kedua perusahaan itu saja. Makanya pemerintah mendorong agar lebih banyak lagi investasi yang masuk ke sektor petrokimia,” ujar Direktur Industri Kimia Hulu Kementerian Perindustrian Muhammad Khayam Senin (20/11)

Menurutnya, pabrikan asing yang berniat menanamkan modal di Indonesia menghendaki pengembangan industri petrokimia berbasis gas karena pabrik petrokimia berbasis naphta rentan terhadap fluktuasi harga minyak dunia yang berdampak terhadap penurunan margin.

Fajar Budiyono, Sekjen Asosiasi industri Aromatik Olefin dan Plastik Indonesia, mengatakan saat ini lebih dari 50% dari total kebutuhan bahan baku masih dipenuhi oleh impor. Kebutuhan polypropylene misalnya mencapai 1,6 juta ton. Dari angka ini, yang mampu diproduksi oleh produsen domestik hanya 700.000 ton.

Begitu pula dengan kebutuhan polyethylene (PE) sebesar 1,5 juta ton dan hanya dapat dipenuhi dalam negeri sebesar 800.000 ton. 

“Secara total untuk polymer plastik butuh 5,56 juta ton dan produksi domestik hanya di angka 2,2 juta ton, sisanya masih impor,” katanya.

Sementara itu, Wakil Menteri Energi dan Sumber Daya Minral (ESDM) Arcandra Tahar mengatakan tidak mudah untuk bisa mencapai harga di hulu kurang dari US$6 per MMBtu. Sementara, di beberapa kesempatan pelaku industri pengguna gas sering meminta agar Kementerian ESDM bisa menekan harga yang memenuhi keekonomian industri. Pelaku industri pupuk meminta agar harga gas hulu dijual US$ 3 per MMBtu. 

"Sebagai contoh, industri pupuk di setiap kesempatan selalu minta harga yang murah. Mereke datang kepada saya, tolong buat harga gas US$ 3. Bagaimana?" ujarnya saat memberikan sambutan dalam acara Indonesia Gas&LNG Buyers Summit di Hotel Shangri-la, Jakarta, Selasa (21/11).

Menurutnya, harga serendah itu hanya bisa dari restu menteri keuangan karena perlu pemangkasan penerimaan negara dari sektor migas. Pasalnya, dia menuturkan bila pihaknya menekan harga terlalu rendah, tidak akan ada investor di sektor hulu yang akan berminat untuk mengembangkan lapangan-lapangan gas yang nantinya bisa memasok gas bagi industri.

Bisnis Indonesia, Page-25, Wednesday, Nov 22, 2017

Waiting for Oil and Gas Block Auction Solution

This year, the government offers 15 oil and gas working areas consisting of 10 conventional blocks and five non-conventional oil and gas blocks. A total of seven conventional oil and gas blocks are offered directly, namely Andaman l Block (offshore Aceh), Andaman ll (offshore Aceh), South Tuna (offshore Natuna), Merak Lampung [offshore and Banten-Lampung mainland), Pekawai ( offshore of East Kalimantan], West Yamdena (offshore and mainland Maluku), and Kasuri III Block (mainland West Papua).

Three conventional oil and gas blocks are offered through regular auctions, the Tongkol Block (offshore Natuna), East Tanimbar (offshore Maluku), and Mamberamo (mainland and offshore Papua). For non-conventional oil and gas blocks offered through direct offer of MNK Jambi l, Onshore Jambi (Shale Hydrocarbon); MNK Jambi II, Onshore Jambi 81 South Sumatera (Shale Hydrocarbon); CMB West Air Komering, Onshore South Sumatra (Coal Bed Methane / CBM).

Map of Working Area Oil adn Gas Block

However, until the end of 2017, 15 working areas (WK) offered are not immediately in demand by investors. Whereas the auction process has started since July 2017. The government, then again extended the auction deadline until August 9, 2017 with the reason of waiting for regulation about gross split.

In its development, the government again extended the auction until September 11, 2017. By reason of the revision of the Regulation of the Minister of Energy and Mineral Resources about gross split, the Ministry of ESDM again extended the auction time until 20 November 2017. In fact, again the government again extended the auction until December 31, 2017.

About not interested in investor interest is not just recently experienced. In the 2008/2009 period, the government also had doubts because of the 16 blocks offered, only five blocks won the winner.

At the time, it was mentioned that the government's plan to limit state expenditure on cost recovery claims made the regular auction of oil and gas working area in stage 2008/2009 was quiet.

Director General of Oil and Gas at the time, Evita Herawati Legowo, cited global economic conditions, low oil prices during the offering and technical conditions of the offered block, which investors said lacked oil and gas content.

Referring to global economic conditions in 2017 and 2018, the world economy can not yet be said to enter the acceleration period. Meanwhile, commodity prices, controlled by crude oil, are still slowing so expect prices back to the golden level of commodities like 'Waiting for Godot' a story that illustrates hope that does not end soon.

Brent crude oil prices hit a high of US $ 146.08 per barrel on July 3, 2008. Now the price of oil has fallen more than 57% and held at US $ 62.70 per barrel.

Meanwhile, the price of WTI crude oil has also dropped 50.29% from the highest point of US $ 113.93 per barrel on April 24, 2011, to US $ 56.27 per barrel.

In relation to the economic value of oil and gas blocks offered, the government is realistic without having to sell cheaply. Because the auction will contribute to the increase of oil and gas production in the future.

Based on data from SKK Migas, up to semester l / 2017 there are 277 oil and gas blocks, down compared to 2012 as many as 308 blocks. On the other hand, oil and gas block contracts that will be exhausted during the period 2017-2025 as much as 30 blocks.

Government efforts to revise ESDM Ministerial Regulation no. 35/2008 on the Procedures for the Determination and Supply of Working Areas of Oil and Gas to facilitate the auction process of the oil and gas block actually shows a commitment to be friendly with investors.

However, this is not enough because oil and gas contract schemes are now changing from cost recovery to gross split. Although the gross split scheme allows the Cooperation Contract Contractor to carry out its own procurement system so that it becomes simple and efficient, investors still need clarity about the tax system.

The tax code for contract scheme for gross split oil and gas is what investors are waiting for. The Ministry of Energy and Mineral Resources once promised the tax regulation will be completed in November.

In fact, the 15-block oil and gas auction is delayed until the end of the year which means there is still a different view among government agencies. Being cautious is clearly needed. Nevertheless, the government should also quickly provide solutions to investors in the downward trend of the national oil and gas reserve ratio.

IN INDONESIA

Menanti Solusi Lelang Blok Migas

Pada tahun ini, pemerintah menawarkan 15 Wilayah kerja migas yang terdiri atas 10 blok konvensional dan lima blok migas non-konvensional. Sebanyak tujuh blok migas konvensional yang ditawarkan secara langsung, yaitu Blok Andaman l (lepas pantai Aceh), Andaman ll (lepas pantai Aceh), South Tuna (lepas pantai Natuna), Merak Lampung [lepas pantai dan daratan Banten-Lampung), Pekawai (lepas pantai Kalimantan Timur], West Yamdena (lepas pantai dan daratan Maluku), dan Blok Kasuri III (daratan Papua Barat).

Tiga blok migas konvensional ditawarkan melalui lelang reguler, yaitu Blok Tongkol (lepas pantai Natuna), East Tanimbar (lepas pantai Maluku), dan Mamberamo (daratan dan lepas pantai Papua). Untuk blok migas nonkonvensional yang ditawarkan melalui penawaran langsung yaitu MNK Jambi l, Onshore Jambi (Shale Hydrocarbon); MNK Jambi ll, Onshore Jambi 81 Sumatera Selatan (Shale Hydrocarbon); CMB West Air Komering, Onshore Sumatera Selatan (Coal Bed Methane/CBM).

Namun, hingga menjelang berakhirnya Tahun 2017, 15 Wilayah kerja (WK) yang ditawarkan tersebut tidak segera diminati oleh investor. Padahal proses lelang sudah dimulai sejak Juli 2017. Pemerintah, kemudian kembali memperpanjang batas waktu lelang hingga 9 Agustus 2017 dengan alasan menunggu regulasi tentang gross split. 

Dalam perkembangannya, pemerintah kembali memperpanjang lelang hingga 11 September 2017. Dengan alasan adanya revisi Peraturan Menteri ESDM tentang gross split, Kementerian ESDM kembali memperpanjang waktu lelang hingga 20 November 2017. Nyatanya, lagi-lagi pemerintah kembali memperpanjang lelang hingga 31 Desember 2017.

Tentang tidak tertariknya minat investor sebenarnya bukan baru-baru ini saja dialami. Pada periode 2008/2009, pemerintah juga pernah ragu karena dari 16 blok yang ditawarkan, hanya lima blok yang mendapatkan pemenang.

Saat itu disebut-sebut rencana pemerintah membatasi pengeluaran negara atas klaim cost recovery membuat lelang reguler wilayah kerja migas tahap ll 2008/2009 sepi peminat.

Dirjen Migas saat itu, Evita Herawati Legowo, menyebutkan kondisi ekonomi global, rendahnya harga minyak saat penawaran serta kondisi teknis dari blok yang ditawarkan, yang menurut investor tidak memiliki kandungan minyak dan gas, menjadi penyebab.

Merujuk pada kondisi ekonomi global pada 2017 dan 2018, perekonomian dunia memang belum dapat dikatakan memasuki masa akselerasi. Adapun, harga komoditas, yang dikendalikan oleh minyak mentah pun, masih lambat melaju sehingga berharap harga kembali pada level keemasan komoditas ibarat ‘Menunggu Godot’ sebuah kisah yang menggambarkan harapan yang tidak segera berakhir.

Harga minyak mentah berjenis Brent pernah mencapai titik tertinggi di level US$ 146,08 per barel pada 3 Juli 2008. Kini harga minyak tersebut sudah turun lebih dari 57% dan bertahan pada level US$ 62,70 per barel.

Adapun, harga minyak mentah jenis WTI juga sudah turun 50,29%, dari titik tertinggi US$ 113,93 per barel pada 24 April 2011, menjadi US$ 56,27 per barel. 

Terkait dengan nilai keekonomian blok migas yang ditawarkan, pemerintah bersikap realistis tanpa harus menjual murah. Pasalnya, lelang itu akan berkontribusi terhadap peningkatan produksi migas ke depan.

Berdasarkan data SKK Migas, hingga semester l/2017 terdapat 277 blok migas, turun dibandingkan dengan 2012 sebanyak 308 blok. Di sisi lain, kontrak blok migas yang akan habis selama periode 2017- 2025 sebanyak 30 blok.

Upaya pemerintah untuk merevisi Peraturan Menteri ESDM No. 35/2008 tentang Tata Cara Penetapan dan Penawaran Wilayah Kerja Minyak dan Gas Bumi untuk mempermudah proses lelang blok migas sebenarnya sudah menunjukkan komitmen untuk bersahabat dengan investor. 

Namun itu tidak cukup karena skema kontrak migas kini berubah dari cost recovery menjadi gross split. Walaupun skema gross split memungkinkan Kontraktor Kontrak Kerja Sama untuk melakukan sistem pengadaan sendiri sehingga menjadi sederhana dan efisien, investor tetap butuh kejelasan soal sistem perpajakannya.

Aturan perpajakan untuk skema kontrak bagi basil migas gross split inilah yang sedang ditunggu oleh investor. Kementerian ESDM pernah menjanjikan aturan perpajakan bakal rampung pada November.

Faktanya, lelang 15 blok migas ditunda hingga akhir tahun yang artinya masih ada perbedaan pandangan antar instansi pemerintah. Bersikap hati-hati jelas dibutuhkan. Meski demikian, pemerintah juga harus cepat memberikan solusi kepada investor di saat tren menurunnya rasio cadangan migas nasional.

Bisnis Indonesia, Page-2, Wednesday, Nov 22, 2017

Kepodang Field Study Completed Next Year

The subsurface study of Lapangan Kepodang, Blok Muriah managed by Petronas Carigali is estimated to be completed next year. A review is needed to determine whether the oil and gas field is in force majeure or not.

Petronas Carigali had previously stated the occurrence of pitch in Kepodang Field causing gas supply from this field to decrease from 116 million standard cubic feet per day (mmscfd) to 70 mmscfd. Kahar conditions are conditions that occur outside the control of contractors that affect operations in the field.

On this statement, the government then stated that it would conduct a study on subsurface conditions in Kepodang Field. The study was conducted by the Oil and Gas Research and Technology Center (Lemigas) of the ESDM Ministry.

Member of Exploitation Research and Technology Development Group of Lemigas Andy Setyo said that the study on the subsurface condition of the field worked by the Malaysian oil and gas company is still ongoing. Thus, it has not been able to determine whether what happened in Kepodang Field entered the force majeur condition.

This study is expected to be completed within the next two to three months.

"Hopefully, next year, there will be a result," he said after attending the Global Methane Initiative Workshop at the Office of Upstream Oil and Gas Upstream Business Unit (SKK Migas) in Jakarta on Monday (20/11).

After the results of the study were obtained, it still had to discuss it with Petronas as the block operator. The reason, Lemigas is not authorized to conclude unilaterally whether the true state of kahar occurred in Kepodang Square or not.

"We as professionals only do the study technically, not talking about commercial," he said.

Earlier, Deputy Minister of Energy and Mineral Resources Arcandra Tahar stated will see the results of field studies, Kepodang first before setting the force majeure. According to him, subsurface evaluation needs to be done because the data obtained by oil and gas companies during the exploration can not describe the actual condition in the reservoir.

Kepodang field managed by Petronas

This case occurs not only in Kepodang Filed, but also other oil and gas fields, for example West Seno Field where the actual reserves are smaller than expected. Therefore, it can not decide a penalty for Petronas.

"No matter how sophisticated we are, exploration, seismic, 3D seismic, appraisal well, and others, if not yet in production, the data may not be accurate. This is called probability, "explained Arcandra.

Although under majesty conditions, Kepodang Field still produce and deliver gas to PLTGU Tambaklorok owned by PT PLN. Gas supply will still flow until next year, although the volume is reduced.

Kepodang field managed by Petronas has produced gas since 2015 ago. Under the gas purchase agreement (PJ BG), Kepodang Field will supply 116 million cubic feet per day of mmscfd gas for 12 years to PLTGU Tambaklorok. The gas price is set at US $ 4.16 per million British thermal units (mmbtu) with an annual escalation of 8%.

Petronas worked on Kepodang Field with Saka Energi Muriah Limited with ownership interest of 80% and 20% respectively. In Indonesia, in addition to Block Muriah, Petronas also operates in Block Ketapang (80%), Glagah Kambuna (60%) and North Madura II (100%).

In addition, Petronas is also participating in Natuna Sea A (15%), Jabung (42.85%), Kualakurun (40%), Madura Offshore (22.5%), Randugunting (30%) and Surumana (20 %).

IN INDONESIA

Kajian Lapangan Kepodang Selesai Tahun Depan

Kajian bawah permukaan (subsurface) Lapangan Kepodang, Blok Muriah yang dikelola Petronas Carigali diperkirakan baru selesai pada tahun depan. Kajian diperlukan guna menentukan apakah lapangan migas ini masuk kondisi kahar (force majeur) atau tidak.

Petronas Carigali sebelumnya menyatakan terjadinya kondisi kahar di Lapangan Kepodang yang menyebabkan pasokan gas dari lapangan ini turun dari 116 juta kaki kubik per hari (million standard cubic feet per day/mmscfd) menjadi 70 mmscfd. Kondisi kahar merupakan kondisi yang terjadi di luar kendali kontraktor yang mempengaruhi operasi di Lapangan.

Atas pernyataan ini, pemerintah kemudian menyatakan akan melakukan kajian kondisi subsurface di Lapangan Kepodang. Kajian dilakukan oleh Pusat Penelitian dan Teknologi Minyak dan Gas Bumi (Lemigas) Kementerian ESDM.

Anggota Kelompok Program Penelitian dan Pengembangan Teknologi Eksploitasi Lemigas Andy Setyo mengatakan, kajian atas kondisi subsurface lapangan yang digarap perusahaan migas Malaysia ini masih berlangsung. Sehingga, pihaknya belum dapat menentukan apakah yang terjadi di Lapangan Kepodang masuk kondisi force majeur.

Kajian ini diperkirakan baru akan selesai dalam dua sampai tiga bulan mendatang. 

“Mudah~mudahan awal tahun depan sudah ada hasil,” kata dia usai menghadiri acara Global Methane Initiative Workshop di Kantor Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) di Jakarta, Senin (20/11).

Setelah hasil kajian diperoleh, pihaknya masih harus mendiskusikannya dengan Petronas selaku operator blok. Pasalnya, Lemigas tidak berwenang menyimpulkan sepihak apakah kondisi kahar benar terjadi di Lapangan Kepodang atau tidak. 

“Kami sebagai profesional hanya lakukan kajian secara teknis, tidak bicara soal komersial,” ujarnya.

Sebelumnya, Wakil Menteri ESDM Arcandra Tahar menyatakan akan melihat hasil kajian Lapangan, Kepodang terlebih dahulu sebelum menetapkan kondisi kahar. Menurutnya, evaluasi subsurface perlu dilakukan lantaran data yang diperoleh perusahaan migas saat eksplorasi belum bisa menggambarkan kondisi sesungguhnya di dalam reservoir. 

Kasus ini terjadi tidak hanya di Lapangan Kepodang, tetapi juga lapangan migas lain, contohnya Lapangan West Seno di mana cadangan sesunggunya lebih kecil dari perkiraan. Karenanya, pihaknya tidak bisa memutuskan penalti bagi Petronas.

“Seberapa canggih pun kita analisa eksplorasi, seismik, 3D seismik, appraisal well, dan lainnya, kalau belum berproduksi, datanya mungkin belum akurat. Ini yang dinamakan probability,” jelas Arcandra.

Meski dalam kondisi kahar, Lapangan Kepodang tetap berproduksi dan mengirimkan gas ke PLTGU Tambaklorok milik PT PLN. Pasokan gas masih akan mengalir hingga tahun depan, meski volumenya berkurang.

Lapangan Kepodang yang dikelola Petronas telah menghasilkan gas sejak 2015 lalu. Sesuai perjanjian jual beli gas (PJ BG), Lapangan Kepodang akan menyuplai gas sebesar 116 juta kaki kubik per hari mmscfd selama 12 tahun ke PLTGU Tambaklorok. Harga gas ini ditetapkan sebesar US$ 4,16 per juta british thermal unit (mmbtu) dengan eskalasi 8% per tahun.

Petronas menggarap Lapangan Kepodang bersama Saka Energi Muriah Limited dengan kepemilikan hak partisipasi masing-masing 80% dan 20%. Di Indonesia, selain Blok Muriah, Petronas juga menjadi operator di Blok Ketapang (80%), Glagah Kambuna (60%) dan North Madura II (100%).

Selain itu Petronas juga memang hak partisipasi di Blok Natuna Sea A (15%), Jabung (42,85%), Kualakurun (40%), Madura Offshore (22,5%), Randugunting (30%), dan Surumana (20%).

Investor Daily, Page-9, Tuesday, Nov 21, 2017

Lemigas Review Kepodang Force Majeur

The Center for Oil and Gas Research and Technology (Lemigas) still needs more time to ensure the majeure or majeure conditions of Kepodang Filed, Blok Muriah. Andy Setyo, of Lemigas Exploitation Research and Technology Development Program Group, said it still needs to review again the basin or subsurface of Kepodang Field.

The reason, Lemigas takes up to three months to complete the study subsurface Kepodang Field. This means, the certainty of the fate of the new Kepodang Field can be determined at the beginning of 2018.

"Hopefully early next year there are already results," said Andy, Monday (20/11).

That way, Lemigas at this time still can not confirm the condition of pitch in the gas field. Moreover, later study results Lemigas still discussed first with Petronas, the field operator.

Previously, Head of Program and Communications Division Division of Special Unit for Upstream Oil and Gas (SKK Migas) Business Activities, Wisnu Prabawa Taher, said that there are already calculations of Lemigas analysis showing that in Kepodang Field Inside reserves only 107 billions of standard cubic feet of gas (bscf ).

The amount of such reserves is entirely not necessarily produced. Whereas in the plan of development (POD) Kepodang Field approved by the government includes the amount of hydrocarbons in this field that can be produced into gas reaches 354 bscf.

"In summary, based on the material analysis of the balance by Lemigas, we found inplace Kepodang 107 bscf versus inhouse-rate analysis of Petronas of 94 bscf," explained Vishnu

Although the results of Lemigas analysis indicate a decrease in reserves in Kepodang Field, Wisnu said that the government through SKK Migas has not been able to provide a force majure status. Because, until now the process of analysis in SKK Migas still not completed.

"Related kahar, still discussed again for the commercial aspect, so formally can not be called force majure," said Vishnu.

Based on data from SKK Migas, Kepodang Blok Muriah project is operated by Petronas Carigali Muriah Ltd since 1 January 2004. Kepodang Field is located in offshore area of ​​East Java, about 180 kilometers north-east of Semarang City. This is the first field to be developed in the Muriah Block.

Kepodang Blok Muriah by Petronas

The original POD of Kepokang Block Muriah Field was approved in 2005 and then revised in 2012. From hydrocarbon reserves in Kepodang Field, it is expected to produce about 354 bscf of gas. Meanwhile, Kepodang Field gas production is estimated to reach 116 million standard cubic feet per day (mmscfd). However, gas field production is currently only about 70 mmscfd-80 mmscfd.

The development scenario of Muriah Block at that time was producing integrated gas from upstream to downstream. For development of integrated gas production facility, cover upstream scheme. That is, the construction of a central processing platform (CPP), consisting of eight well slots, WHT-C (Wellhead Tower-C) consists of five well slots, a 10.7 km infield flowline of WHT-C to CPP and on-shore remote control.

The downstream scheme operated by PT Bakrie and Brothers Tbk (BNBR) and PT Perusahaan Gas Negara Tbk (PGN) consists of 200 km export pipeline construction and onshore receiving facility (ORF) at Tambak Lorok Power Plant, Semarang.

Kepodang Field Project was constrained due to downstream problems, namely the construction of gas pipelines. Petronas and its new partners can produce gas from Kepodang Field in the third quarter of 2015.

IN INDONESIA

Lemigas Kaji Ulang Kahar Kepodang

Pusat Penelitian dan Teknologi Minyak dan Gas Bumi (Lemigas) masih membutuhkan waktu lebih lama lagi memastikan kondisi kahar atau force majeure Lapangan Kepodang, Blok Muriah. Andy Setyo, dari Kelompok Program Penelitian dan Pengembangan Teknologi Eksploitasi Lemigas, mengatakan, pihaknya masih perlu mengkaji ulang lagi cekungan atau subsurface Lapangan Kepodang.

Pasalnya, Lemigas membutuhkan waktu hingga tiga bulan untuk menyelesaikan kajian subsurface Lapangan Kepodang. Ini berarti, kepastian nasib Lapangan Kepodang baru bisa ditentukan pada awal tahun 2018. 

"Mudah-mudahan awal tahun depan sudah ada hasil,” kata Andy, Senin (20/11).

Dengan begitu, Lemigas saat ini masih belum bisa memastikan kondisi kahar di lapangan gas tersebut. Apalagi nantinya hasil kajian Lemigas masih didiskusikan terlebih dahulu dengan Petronas, operator lapangan tersebut.

Sebelumnya, Kepala Divisi Program dan Komunikasi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Wisnu Prabawa Taher mengatakan, sudah ada hasil perhitungan analisa Lemigas yang menunjukan cadangan inplace Lapangan Kepodang hanya 107 billions of standard cubic feet of gas (bscf). 

Jumlah cadangan tersebut itu sepenuhnya belum tentu diproduksi. Padahal dalam plan of development (POD) Lapangan Kepodang yang disetujui oleh pemerintah mencantumkan jumlah hidrokarbon di lapangan ini yang bisa diproduksikan menjadi gas mencapai 354 bscf. 

"Secara ringkas, berdasarkan analisis material balance oleh Lemigas, didapatkan inplace Kepodang 107 bscf versus angka inhouse analysis Petronas sebesar 94 bscf," jelas Wisnu

Biarpun hasil analisa Lemigas menunjukan adanya penurunan jumlah cadangan di Lapangan Kepodang, Wisnu menyebut pemerintah melalui SKK Migas belum bisa memberikan status force majure atau kahar. Pasalnya, hingga saat ini proses analisa di SKK Migas masih belum selesai. 

"Terkait kahar, masih dibahas kembali untuk aspek komersialnya, sehingga secara formal belum bisa disebut force majure," jelas Wisnu.

Berdasarkan data SKK Migas, proyek Kepodang Blok Muriah dioperasikan oleh Petronas Carigali Muriah Ltd sejak 1 Januari 2004. Lapangan Kepodang ini berlokasi di kawasan lepas pantai Jawa Timur, sekitar 180 kilometer sebelah timur laut Kota Semarang. Ini merupakan lapangan pertama yang akan dikembangkan di Blok Muriah.

POD original Lapangan Kepodang Blok Muriah disetujui tahun 2005 dan kemudian direvisi tahun 2012. Dari cadangan hidrokarbon di Lapangan Kepodang, diharapkan dapat diproduksikan gas sekitar 354 bscf. Sedangkan produksi gas Lapangan Kepodang diperkirakan dapat mencapai 116 juta kaki kubik per hari alias million standard cubic feet per day (mmscfd). Namun saat ini produksi lapangan gas tersebut hanya berkisar 70 mmscfd-80 mmscfd. 

Skenario pengembangan Blok Muriah kala itu adalah memproduksi gas terintegrasi dari hulu hingga hilir. Untuk pengembangan fasilitas produksi gas terintegrasi, mencakup skema hulu. Yakni pembangunan central processing platform (CPP), terdiri dari delapan slot sumur, WHT-C (Wellhead Tower-C) terdiri dari lima slot sumur, infield flowline 10" sepanjang 2,7 km dari WHT-C ke CPP, serta on-shore remote control.

Skema hilir yang dioperasikan PT Bakrie and Brothers Tbk (BNBR) serta PT Perusahaan Gas Negara Tbk (PGN) terdiri dari pembangunan export pipeline sepanjang 200 km serta onshore receiving facility (ORF) di Tambak Lorok Power Plant, Semarang.

Proyek Lapangan Kepodang ini sempat terkendala karena masalah hilir, yaitu pembangunan pipa gas. Petronas dan mitranya baru bisa memproduksi gas dari Lapangan Kepodang di kuartal III- 2015.

Kontan, Page-14, Tuesday, Nov 21, 2017