SKK Migas Pushes Local Materials in Upstream Oil and Gas Project

Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) encourages the use of steel, pipes and other manufacturing facilities in the upstream oil and gas industry. Therefore, SKK Migas supports the workshop organized by The Indonesian Iron & Steel Industry Association (IISLA) in Batam.

The workshop brought together suppliers with enthusiasts, such as KKKS, shipbuilding companies, manufacturers, engineering procurement and construction (EPC) contractors and front end engineering design contractors.

"Hopefully, this interaction will create synergy and openness among business actors," said Erwin Suryadi, Head of Procurement Management Division of Goods and Services of SKK Migas in a press release on Tuesday (5/12).

For information, IISLA workshop is an implementation of PTK 007 Revision 04 on Guidelines for Procurement of Goods / Services issued by SKK Migas this year. Beleid requires KKKS and subcontractors to use goods and services domestically.

IN INDONESIA

SKK Migas Dorong Material Lokal di Proyek Hulu Migas

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mendorong penggunaan baja, pipa dan fasilitas pabrikasi lain dalam industri hulu migas. Oleh karenanya SKK Migas mendukung workshop yang diselenggarakan The Indonesian Iron & Steel Industry Association (IISLA) di Batam.

Workshop itu mempertemukan pemasok dengan peminat, seperti Kontraktor Kontrak Kerjasama (KKKS), perusahaan galangan kapal, pabrikan, kontraktor engineering procurement and construction (EPC) dan kontraktor front end engineering design. 

"Harapannya dengan interaksi ini akan tercipta sinergi dan keterbukaan antar pelaku usaha" ujar Erwin Suryadi, Kepala Divisi Pengelolaan Pengadaan Barang dan Jasa SKK Migas dalam siaran pers, Selasa (5/12).

Sebagai informasi, workshop IISLA merupakan implementasi dari PTK 007 Revisi 04 tentang Pedoman Pelaksanaan Pengadaan Barang/Jasa yang diterbitkan SKK Migas pertengahan tahun ini. Beleid mewajibkan KKKS dan subkontraktor menggunakan barang dan jasa dalam negeri.

Kontan, Page-14, Wednesday, Dec 6, 2017

Pertamina Signs 2018 Contract

Mansouri block management

PT Pertamina will sign the Mansouri Block management contract in Iran next year. Upstream Director of Pertamina Syamsu Alam said it would control 30 percent participation share and Iranian partner by 20 percent. The rest, it will take other partners to manage the block with the type of service contract. The Iranian government has decided to sign the contract next year in April 2018.

"The Iranian government requested the signing of the contract in April next year," he said after attending a hearing at Commission VII DPR on Monday (4/12) night.

According to him, there are already other partners who showed interest to participate in managing the Mansouri Block. However, it is still in the conversation stage.

The plan, Mansouri Block produces 250,000 to 300,000 barrels per day (bpd). From the oil produced, he called the company will bring it to Indonesia to meet the needs of fuel oil (BBM).

Mansouri is one of two blocks planned by Pertamina. Previously, there was the Ab-Teymour Block which was also included in the radar in order to increase the company's oil and gas production but ultimately only Mansouri could be agreed upon.

CONTRACT SYSTEMS

Quoted from the official website of NIOC, Iran will auction off 50 Work Areas with a profit sharing contract system. The main point of the cooperation contract, as quoted from the page of Herbert Smith Freehills, an international law firm,

a system of contracts that allows the return of expenses incurred by investors.

For the exploration period, 4 years is set with 2 year extension. Meanwhile, for the development and production stage is set 20 years. The government will set production targets but will provide incentives for investors who can maximize field management.

According to the website, there is a change in cooperation contracts because Iran wants to reach the investment target of US $ 150 billion which must enter for the next 5 years.

"Pertamina is 30%, 20% local, the rest we are looking for partners," said Syamsu Alam.

Currently, Pertamina has assets in several countries. In Iraq, the company has a portion in West Qurna 1. In Algeria, Pertamina owns 65% stake in MLN Field and 16.9% in EMK Field; Thirdly, in Malaysia, the company has portions in Block K, Kikeh Block, SNP Block, SK309 Block and SK311 Block.

Finally, Pertamina controlled 72.65% shares of French oil and gas company, Maurel & Prom. From the acquisition of Maurel & Prom, there are additional assets in Gabon, Nigeria, Tanzania, Namibia, Colombia, Canada, Myanmar, Italy, and other countries. However, the main assets that have been produced are in Gabon, Nigeria and Tanzania.

As an illustration, oil and gas production of PT Pertamina in the third quarter / 2017 increased by 6.26% compared to the same period of 2016 from 646,000 barrels of oil equivalent per day (mboepd) to 689 mboepd.

IN INDONESIA

Pengelolaan blok Mansouri

Pertamina Tandatangani Kontrak 2018

PT Pertamina akan menandatangani kontrak pengelolaan Blok Mansouri di Iran pada tahun depan. Direktur Hulu Pertamina Syamsu Alam mengatakan pihaknya akan menguasai saham partisipasi sebesar 30% dan mitra Iran sebesar 20%. Sisanya, pihaknya akan menggandeng mitra lain untuk mengelola blok dengan jenis service contract itu. Pemerintah Iran, telah menetapkan agar penandatanganan kontrak dilakukan tahun depan yakni April 2018.

“Pemerintah Iran yang minta penandatanganan kontrak April tahun depan,” ujarnya usai menghadiri Rapat Dengar Pendapat di Komisi VII DPR, Senin (4/12) malam.

Menurutnya, sudah ada mitra lain yang menunjukkan minat untuk turut terlibat mengelola Blok Mansouri. Namun, hal tersebut masih dalam tahap pembicaraan.

Rencananya, Blok Mansouri menghasilkan 250.000 hingga 300.000 barel per hari (bph). Dari minyak yang dihasilkan, dia menyebut perseroan akan membawanya ke Indonesia untuk memenuhi kebutuhan bahan bakar minyak (BBM).

Mansouri merupakan satu dari dua blok yang rencananya dikuasai Pertamina. Sebelumnya, terdapat Blok Ab-Teymour yang juga masuk dalam radar agar bisa menambah produksi migas perseroan tetapi akhirnya hanya Mansouri yang bisa disepakati.

SISTEM KONTRAK

Dikutip dari laman resmi NIOC, lran akan melelang 50 Wilayah Kerja dengan sistem kontrak bagi hasil. Poin utama dalam kontrak kerja sama tersebut, sepeiti dikutip dari laman Herbert Smith Freehills, sebuah firma hukum internasional, Iran menggunakan sistem kontrak yang memungkinkan pengembalian biaya yang dikeluarkan investor.

Untuk masa eksplorasi, ditetapkan 4 tahun dengan perpanjangan 2 tahun. Sementara itu, untuk tahap pengembangan dan produksi ditetapkan 20 tahun. Pemerintah akan menetapkan target produksi tetapi akan disiapkan insentif bagi investor yang bisa memaksimalkan pengelolaan lapangan.

Menurut laman itu, adanya perubahan kontrak kerja sama karena Iran ingin mencapai target investasi sebesar US$ 150 miliar yang harus masuk selama 5 tahun ke depan.

“Pertamina bagiannya 30%, 20% lokal, sisanya kita sedang mencari partner,” kata Syamsu Alam.

Saat ini, Pertamina memiliki aset di beberapa negara. Di Irak, perseroan memiliki porsi di Iapangan West Qurna 1. Di Aljazair, Pertamina menguasai 65% saham di Lapangan MLN dan 16,9% di Lapangan EMK; Ketiga, di Malaysia, perseroan memiliki porsi di Blok K, Blok Kikeh, Blok SNP, Blok SK309 dan Blok SK311.

Terakhir, Pertamina menguasai 72,65% saham perusahaan migas Prancis, Maurel&Prom. Dari hasil akuisisi Maurel&Prom, terdapat tambahan aset di Gabon, Nigeria, Tanzania, Namibia, Kolombia, Kanada, Myanmar, Italia, dan negara lainnya. Namun, aset utamanya yang telah berproduksi yakni di Gabon, Nigeria, dan Tanzania.

Sebagai gambaran, produksi minyak dan gas bumi PT Pertamina kuartal III/ 2017 naik 6,26% dibandingkan dengan periode yang sama tahun 2016 dari 646.000 barel setara minyak per hari (mboepd) menjadi 689 mboepd.

Bisnis Indonesia, Page-30, Wednesday, Dec 6, 2017

Oil and Gas Holding will be Established in 2018

The Ministry of State-Owned Enterprises (BUMN) is now officially established a holding company (holding) of the mine. Holding mine owns the parent company PT Indonesia Asahan Aluminum (Inalum) with members of PT Timah, PT Antam, and PT Bukit Asam.

Furthermore, the SOE Ministry will also establish a holding with other sectors next year. Oil and gas holdings will soon be established with its parent company, PT Pertamina. The plan, the Ministry of SOEs will be forming oil and gas holding in the first quarter of next year.

"Insha Allah (holding mine formed in the first quarter of next year), is still in process," said Minister of SOE Rini Soemarno in the complex area of ​​Bank Indonesia (BI), Monday (4/12).

Nevertheless, Rini has not been able to say more details about the planned formation of oil and gas holding which is expected to be formed in the first quarter of 2018. He just said, although there is a process, Rini has not known already in stage where the formation of oil and gas holding.

In fact, reportedly the emergence of Letter of the Minister of SOE Number S-682 / MBU / 11/2017 to the Board of Directors of PT Perusahaan Gas Negara (PGN). In the letter, Rini instructed PGN to conduct an Extraordinary General Shareholders Meeting (RUPSLB) related to the oil and gas holding plan. Although the letter already exists, Rini also not want to reveal about the intruksinya to PGN.

"I'm sorry I just came in. Ask Edwin (Deputy of Regional Energy Business and Logistics Division of the Ministry of State-Owned Enterprises) what has not, I honestly can not remember," She said.

Economic observer from the University of Indonesia, Faisal Basri, said last week that the formation of holding (SOEs) of SOEs should be done through in-depth study, transparent and not in a hurry. Thus, in the future it will not have a negative impact on society.

"Holding a state-owned company must be a healthy company, giving added value rather than creating harm," Faisal said during a discussion on "Bungling Fortunes of Holding BUMN Holdings" in Jakarta.

According to Faisal, lessons learned in the formation of already-realized holdings, such as plantations and fertilizers, can serve as introspection for the government if it is to continue holding the holding.

Therefore, in the formation of state-owned holding companies, it should be seen if the companies that are losers or inefficient, should first be healthy through restructuring. Conversely, efficient SOEs should continue to be developed not to be disturbed by combining them with sick SOEs.

Down Stream

Meanwhile, Director of Business Development of PT Bukit Asam Fuad Iskandar Zulkarnain Fachroeddin explained that the holding mine will focus on upgrading the downstream project in the country. It is a holding step to enlarge domestic added value and increase the effectiveness of multiplier for industry.

Fuad said, there are several things that become the mine's holding consern to the future. First, coal gasification. He explained that the Minister of SOEs requested that no large coal outflow in and out. Going forward, coal production from the holding mines will be processed on-site into electricity and gas.

In addition to ensuring the supply of coal in the country, it will also affect the downstream industries, such as fertilizers and petrochemicals. "This is a concept from six years ago, but it has not started yet, we will run in the holding this time," he said at the ministry's office SOEs, Monday (4/12).

In addition to coal, holding will also increase the downstream of alumina. If all this time Inalum imports 100 percent alumina for aluminum raw material then in the future this raw material will be made in the country.

IN INDONESIA

Holding Migas akan Dibentuk pada 2018

Kementerian Badan Usaha Milik Negara (BUMN) saat ini sudah resmi membentuk induk perusahaan (holding) tambang. Holding tambang memiliki induk perusahaan PT Indonesia Asahan Aluminium (Inalum) dengan anggota PT Timah, PT Antam, dan PT Bukit Asam.

Untuk selanjutnya, Kementerian BUMN juga akan membentuk holding dengan sektor lainnya pada tahun depan. Holding migas rencananya akan segera dibentuk dengan induk perusahaannya, yaitu PT Pertamina. Rencananya, Kementerian BUMN akan akan membentuk holding migas pada kuartal I tahun depan. 

"Insya Allah (holding tambang dibentuk pada kuartal I tahun depan), masih dalam proses," kata Menteri BUMN Rini Soemarno di kawasan kompleks Bank Indonesia (BI), Senin (4/ 12).

Meskipun begitu, Rini belum bisa mengatakan lebih detail mengenai rencana pembentukan holding migas yang diharapkan bisa terbentuk pada kuartal I 2018 itu. Dia hanya mengatakan, meski sudah ada prosesnya, Rini belum mengetahui sudah di tahap mana pembentukan holding migas tersebut.

Padahal, dikabarkan munculnya Surat Menteri BUMN Nomor S-682/MBU/11/2017 kepada Direksi PT Perusahaan Gas Negara (PGN). Dalam surat tersebut, Rini menginstruksikan PGN segera melakukan Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) terkait rencana pembentukan holding migas. Meskipun surat tersebut sudah ada, Rini juga belum mau mengungkap mengenai intruksinya tersebut kepada PGN. 

"Sorry ini aku Iupa baru saja sampai. Tanyakan kepada Bapak Edwin (deputi Bidang Usaha Energi Logistik Kawasan dan Pariwisata Kementerian BUMN) sudah apa belum, saya terus terang tidak ingat," Kata Rini.

Pengamat ekonomi dari Universitas Indonesia, Faisal Basri, pekan lalu mengatakan, pembentukan holding (perusahaan induk) BUMN seharusnya dilakukan melalui kajian mendalam, transparan, dan tidak terburu-buru. Sehingga, pada kemudian hari tidak justru berdampak negatif terhadap masyarakat.

"Holding BUMN harus beranggotakan perusahaan yang sehat. Sehingga memberikan nilai tambah bukan menciptakan mudarat," kata Faisal saat berbicara dalam diskusi "Menakar Untung Rugi Holding BUMN", di Jakarta.

Menurut Faisal, pelajaran dalam pembentukan holding yang sudah terealisasi, seperti perkebunan dan pupuk, dapat dijadikan sebagai introspeksi bagi pemerintah jika ingin melanjutkan pembentukan holding.

Untuk itu, dalam pembentukan holding BUMN harus dilihat jenis usahanya jika perusahaan yang merugi atau tidak efisien, seharusnya terlebih dahulu disehatkan melalui restrukturisasi. Sebaliknya, BUMN yang sudah efisien harus terus dikembangkan bukan diganggu dengan menggabungkanya dengan BUMN yang sakit.

Hilirisasi

Sementara itu, Direktur Pengembangan Bisnis PT Bukit Asam Fuad Iskandar Zulkarnain Fachroeddin menjelaskan, holding tambang akan fokus untuk peningkatan proyek hilirisasi dalam negeri. Hal ini, merupakan langkah holding untuk memperbesar nilai tambah dalam negeri dan meningkatkan multiplier efect bagi industri.

Fuad mengatakan, ada beberapa hal yang menjadi consern holding tambang ke depan. Pertama, gasifikasi batu bara. Dia menjelaskan, Menteri BUMN meminta agar tidak ada aliran keluar masuk batu bara secara besar besaran. Ke depan, batubara produksi dari holding tambang akan diproses di tempat menjadi listrik dan gas.

Selain bisa untuk memastikan pasokan batu bara dalam negeri, hal ini juga akan berdampak pada industri hilir, seperti pupuk dan petrokimia. "Ini konsep dari enam tahun lalu, tapi belum dimulai. Kita akan jalankan di holding kali ini," ujarnya di kantor Kementerian BUMN, Senin (4/12).

Selain batu bara,  holding juga akan meningkatkan hilirisasi alumina. Jika selama ini Inalum mengimpor 100 persen alumina untuk bahan baku aluminium maka ke depan bahan baku ini akan dibuat di dalam negeri.

Republika, Page-15, Tuesday, Dec 5, 2017

Oil Holding Immediately Following Holding Mine

The establishment of oil and gas holding should be able to increase the capacity of oil and gas companies to be better than today.

The Ministry of SOE targets the formation of oil and gas holdings to be realized before the end of 2017 following the completion establishment of state-owned mine holding.

"After holding a state-owned mine formed on November 29, 2017, immediately following the formation of holding BUMN oil and gas," said Deputy Minister of Mining, Strategic Industries, and Media Fajar Harry Sampurno in the Office of the Ministry of SOEs, Jakarta.

According to Harry, the Government Regulation Draft (RPP) on the addition of State Equity Participation to the Capital of the Company's shares of PT Pertamina has been submitted to President Joko Widodo.

"In accordance with the process, the formation of holding must be through RPP," said Harry.

PT Pertamina will be the holding company of oil and gas state-owned PT Gas Negara (PGN) Tbk and PT Pertagas, a subsidiary of Pertamina. Harry, who is also PGN's President Commissioner, added that PGN as an open company must immediately hold extraordinary general shareholders meeting with the agenda of the company's articles of association change.

He missed the EGM's request regarding the future business plan of SOEs by majority shareholders is one thing reasonable.

"As a public company. that's normal. Very normal and every shareholder more than 10% ask for EGM, "he said.

From the RUPSLB's acceptance, Harry admitted that he will coordinate with the directors to hold an EGMS as soon as possible. "We will plan as soon as possible, indeed after the birth holding of state-owned mines," he said.

DPR Support

The House of Representatives (DPR) supports the oil and gas holding that is being initiated by the Ministry of SOEs. The merger of PGN to Pertamina is expected to improve financial capability and opportunity.

"Regarding the holding of oil and gas, we submit to the government that has a plan or road map. Even if it should be formed soon, yes immediately because there is still time of government today, "explained Vice Chairman of Commission VII DPR Herman Khaeron.

It is ready to oversee the realization of post-establishment of holding with supervision.

"It is so that PGN is currently growing good, with the holding not to slow down."

In addition, the establishment of holding should be able to increase the capacity of oil and gas companies to be better than today.

"Holding should accelerate investment acceleration to holding companies, improve service to the public, and deliver profit to the nation, "Herman said.

When met after a working meeting with Commission VII of the House of Representatives, President Director of PT Pertamina Elia Massa Manik was reluctant to comment on the holding on the grounds that it was still in process.

The establishment of oil and gas holding may be realized in early 2018 because the EGM must be held for 21 days from the announcement of the EGMS invitation in the mass media. Up to now the announcement regarding the EGMS is not yet available.

IN INDONESIA

Holding Migas Segera Menyusul Holding Tambang

Pembentukan holding migas harus mampu meningkatkap kapasitas perusahaan migas menjadi lebih baik dari saat ini.  

Kementerian BUMN menargetkan pembentukan Holding migas dapat terealisasi sebelum akhir 2017 menyusul tuntasnya pembentukan holding BUMN tambang.

“Setelah holding BUMN tambang terbentuk pada 29 November 2017, secepatnya menyusul pembentukan holding BUMN migas,” kata Deputi Bidang Pertambangan, Industri Strategis, dan Media Fajar Harry Sampurno di Kantor Kementerian BUMN, Jakarta.

Menurut Harry, Rancangan Peraturan Pemerintah (RPP) tentang Penambahan Penyertaan Modal Negara RI ke Dalam Modal Saham Perusahaan Perseroan PT Pertamina sudah disampaikan ke Presiden Joko Widodo.

“Sesuai dengan prosesnya, pembentukan holding harus melalui RPP,” kata Harry.

PT Pertamina akan menjadi perusahaan induk (holding) BUMN migas yang membawahkan PT Perusahaan Gas Negara (PGN) Tbk dan PT Pertagas, anak usaha Pertamina. Harry yang juga Komisaris Utama PGN menambahkan, PGN sebagai perusahaan terbuka harus segera menggelar rapat umum pemegang saham luar biasa (RUPSLB) dengan agenda perubahan anggaran dasar perusahaan.

Ia menjelalskan permintaan RUPSLB mengenai rencana bisnis BUMN ke depan oleh pemegang saham mayoritas ialah satu hal yang wajar. 

“Sebagai perusahaan publik. itu hal yang biasa. Sangat normal dan boleh setiap pemegang saham lebih dari 10% minta RUPSLB," ujarnya.

Dari permimaan RUPSLB tersebut, Harry mengaku akan berkoordinasi dengan direksi untuk mengadakan RUPSLB secepatnya. “Kita akan rencanakan secepatnya, memang setelah lahir holding BUMN tambang,” ujarnya.

Dukungan DPR 

Dewan Perwakilan Rakyat  (DPR) mendukung holding migas yang sedang diinisiasi Kementerian BUMN. Penggabungan PGN kepada Pertamina itu diharapkan dapat meningkatkan kemampuan keuangan dan kesempatan.

“Mengenai holding migas, kami serahkan kepada pemerintah yang memiliki perencanaan atau road map. Kalaupun harus segera dibentuk, ya segeralah karena masih ada waktu pemerintahan saat ini,” terang Wakil Ketua Komisi VII DPR Herman Khaeron.

Pihaknya siap mengawal realisasi pasca pembentukan holding dengan pengawasan. 

“Hal itu supaya seperti PGN yang saat ini tumbuh hagus, dengan adanya holding jangan sampai melambat.”

Selain itu, pembentukan holding harus mampu meningkatkan kapasitas perusahaan migas menjadi lebih baik daripada saat ini.

“Holding harus mempercepat akselerasi investasi kepada perusahaan holding, meningkatkan pelayanan kepada publik, dan memberikan keuntungan kepada bangsa,” kata Herman.

Saat ditemui seusai rapat kerja dengan Komisi VII DPR, Direktur Utama PT Pertamina Elia Massa Manik enggan memberikan komentar tentang holding dengan alasan masih berproses.

Pembentukan holding migas kemungkinan terealisasi di awal 2018 karena RUPSLB harus terselenggara menunggu 21 hari dari pengumuman undangan RUPSLB di media massa. Hingga kini pengumuman mengenai RUPSLB belum ada.

Media Indonesia, Page-18, Tuesday, Dec 5, 2017

Pertamina may find relief in fuel prices

The government might increase the price of certain fuel types sold by state-owned energy giant Pertamina to help ease the company’s financial burdens.

Since April 2016, the government has maintained the prices of Premium gasoline with a research octane number (RON) of 88 at Rp 6,450 (49 US cents) per liter and subsidized Solar diesel at Rp 5,150 per liter. This has forced Pertamina to bear the burden when the prices are below its real economic value.

Pertamina claims it lost $1.42 billion in potential revenues within the first nine months of 2017, because the Indonesian Crude Price (ICP) grew simultaneously by 28.9 percent year-on-year to $48.86 per barrel.

It has since sent a letter explaining its financial situation to the Energy and Mineral Resources Ministry, the Finance Ministry and the State- Owned Enterprises Ministry in hopes of some relief.

Commenting. on this matter, the Energy and Mineral Resources Ministry’s oil and gas director-general Ego Syahrial said the government initially decided to maintain the price of Premium and Solar in efforts to preserve people’s purchasing power.

“However, We’ll see the siniation prior to 2018. If the crude price surpasses $60 per barrel, we might have to adjust the prices, for instance, by increasing the price of Premium to Rp 6,750,” Ego said. 

The ICP stood at around $59 per barrel in November, while the price of global benchmark Brent crude even reached $63.73 per barrel on Dec. 1. The ministry. along with Pertamina and the Supreme Audit Agency (BPK). is also currently reviewing the price formula for Premium and Solar. which should be subject to adjustment once every three months.

At present, the formula takes into account several components, including the distribution cost, the value-added tax (PPN) and the motor vehicle fuel tax (PBBKB).

“The formula was initially introduced in 2015. Some cost components might have to be adjusted in line with the current situation,” Pertamina finance director Arief Budiman said.

A price adjustment Will be a big boost for Pertamina, which saw its total liabilities climb by 1.08 percent year-on-year (yoy) to $26.36 billion in the first half of 2017. As of 2016, the government still owed Pertamina Rp 22 trillion in subsidies for the sale of subsidized 3-kilogram liquefied petroleum gas (LPG) canisters and subsidized Solar diesel.

Moreover, the government has yet to pay Rp 8.4 trillion for gasoline supplied by Pertamina to the Indonesian Military since 2014. 

The government, however, has only committed to repay Rp 4 trillion of its military-related debts to Pertamina by the end of the year. Meanwhile, Pertamina president director Elia Massa Manik said it would be difficult for the company to accelerate its expansion efforts without any price adjustments.

Pertamina has estimated that it will need around $120 billion to support its business plans within the next decade, one-third of which will be used to finance various relinery projects. 

The company has allocated 85.5 billion in capital expenditure in 2018, up from $4.5 billion this year. It has projected that the figure will reach around $10 billion a year in the 2019-2021 period following the start of the construction of its refinery projects.

“Yes, We can still make a profit in 2017. [...] But in the future, it all depends on the crude price. That’s why we have voiced our

concerns to the government,” Elia said.

The government has also ordered Pertamina to support the former’s policy to ensure fuel prices are uniform in all corners of the archipelago. Pertamina plans to establish fuel distribution agents in 150 remote locations by 2019 with a total investment of around Hp 3.8 trillion to support the government.

Once completed, Pertamina estimates it will need to disburse Rp 3 trillion annually to keep the program running. As of today, Pertamina has only been able to build 34 fuel agents nationwide, 6.2.9 percent of the total target of 54 before year-end.

Jakarta Post, Page-13, Tuesday, Dec 5, 2017

Carefully Connecting the Fate of Termination Block

It has been almost a year since the Government decided to commission PT Pertamina to work on eight oil and gas blocks that expire next year. But the new eight-block contract has not yet been signed, even the Government intends to review the assignment given to Pertamina. Including the eight blocks.

According to Data from the Ministry of Energy and Mineral Resources (ESDM), 31 oil and gas blocks will expire in the period 2018-2025. Not only low-production blocks are included in this list. Block Rokan with oil production reaches about 225,000 barrels per day (bpd) is included in the list of blocks to be completed by 2021.

Energy Observer Pri Agung Rakhmanto reminded the government to immediately decide on the continuation of the operation of the blocs. The fate of oil and gas blocks will be the determinant of Indonesia's oil and gas production in the future.

"Must be careful to treat blocks that want to run out of contract," he said.

How come? According to Pri Agung, around 30% of national oil and gas production, or about 635 thousand barrels of oil equivalent per day, is the result of 20 oil and gas blocks completed in the next five years. If drawn further, even up to 61% of national oil production or equivalent to 1.2 million barrels of oil equivalent per day, comes from oil and gas blocks that are out of contract within the next 10 years.

The government can not only rely on Pertamina to work on oil and gas blocks ahead of this contract. As a business entity, Pertamina must also count in selecting blocks to be taken over its management.

"The only rational thing about the extension of PSC (production sharing contract / contract)," he said.

Of the eight oil and gas blocks completed by next year's contract, Pertamina has declared its readiness to work on six blocks, namely Tuban Block, Ogan Komering, South East Sumatera, Sanga-Sanga, North Sumatra Offshore and Central. While the other two blocks, East Kalimantan Block and Attaka, the company will not continue its evaluation.

Unfortunately, the Government again hesitated about the assignment. Director General of Oil and Gas ESDM Ministry Ego Syahrial reasoned that the government should evaluate the proposed development plan by Pertamina, compared to the proposals owned by the existing contractors. The stability of oil and gas production is the reason for the government.

This evaluation was conducted for four blocks, Tuban Block, Ogan Komering, South East Sumatra, and Sanga-Sanga. In fact, one of the four blocks will end in February 2018.

"The position of government is, in the case of production should not go down. Second, the cost per barrel, do not increase, "said Ego.

Regarding the fate of oil and gas blocks that have been completed by 2019-2025, the government has not yet made a decision. For the fate of the Rokan Block which is the largest oil producer only, Ego revealed there is still plenty of time to decide on its management,

"No, the year 2021 is over, 3-4 years away. Later, "he said.

On the other hand, Pertamina has started targeting blocks whose contracts will be exhausted. Upstream Director of Pertamina Syamsu Alam revealed that the company has evaluated the blocks. Although, this evaluation is largely still

in the early stages because it requires more complete data. Related to the decision from the government, said it will depend on the size of the oil and gas block

"Of course the sooner the decision gets better, but it all requires a process," he said.

Needs Improvement

Not only about who holds the management of this termination block, Pri Agung also highlights the side of his economy. In Minister of Energy and Mineral Resources Regulation no. 52 Year 2017 which is a revision of Ministerial Regulation 8/2017 on oil and gas contract scheme gross split, new oil and gas contractors have the option to continue to use oil and gas contract cost recovery or change to gross split when the contract is extended.

If the government decides to terminate the contract and replace it with a new contract, should the contractor not change, then the oil and gas contract should use a gross split scheme.

"If for the block that has been in production, can use the gross split contract," said Pri Agung.

However, he suggested that the gross split oil and gas contract is made simpler. The reason, Indonesia must compete with other countries to attract investment. Oil prices can no longer be used as the reason for the low national oil and gas investment, considering that other countries' oil and gas investments are improving.

Since oil prices rebounded at the start of the year, it said global oil and gas investment had risen by 3-5%. Investment will come to a place that is comfortable to do business. Admittedly, the gross split scheme has been much better when the Government revised the Ministerial Regulation No. 8/2017 to Ministerial Regulation No. 52/2017. However, the existence of split base, split variable, and split progressive make business count difficult.

"Investors find it difficult to calculate the economy because too much" if ", this adds uncertainty, preferably simplified gross split, locked up for what government share results," he advised.

The government he called need to clean up. In terms of revenue, the contribution of the oil and gas sector said it is already lower than the tax sector. Nevertheless, investment in the oil and gas sector is still quite significant when compared to total investment in Indonesia. In 2016, upstream oil and gas investment reached Rp 151.2 trillion, or about 25% of total domestic and foreign investment of Rp 607.25 trillion.

In 2014, oil and gas investment even reached half of the total national investment, which is Rp 275.4 trillion compared to Rp 541.28 trillion. Unfortunately, national oil and gas investment continues to fall every year. In 2013, national oil and gas investment touched US $ 22.37 billion, with upstream sector dominating US $ 20.38 billion and downstream of US $ 1.9 billion. Realization of this investment continued to trim to US $ 21.72 billion in 2014, US $ 17.98 billion in 2015 and US $ 12.73 billion in 2016.

Then until the beginning of October this year, the realization of new oil and gas investment reached US $ 6.4 billion or 41.88% of the target of 2017 which amounted to US $ 15.28 billion.

IN INDONESIA

Hati-Hati Menyambung Nasib Blok Terminasi

Sudah hampir satu tahun sejak Pemerintah memutuskan untuk menugaskan PT Pertamina menggarap delapan blok minyak dan gas bumi yang berakhir kontraknya pada tahun depan. Namun kontrak baru delapan blok ini belum juga ditandatangani, bahkan Pemerintah berniat mengkaji ulang penugasan yang diberikan ke Pertamina. Termasuk delapan blok tersebut.

Menurut Data Kementerian Energi dan Sumber Daya Mineral (ESDM), sebanyak 31 blok migas akan berakhir kontraknya dalam periode 2018-2025. Tidak hanya blok dengan produksi rendah yang masuk daftar ini. Blok Rokan dengan produksi minyak mencapai sekitar 225 ribu barel per hari (bph) masuk dalam daftar blok yang akan selesai kontraknya pada 2021.

Pengamat Energi Pri Agung Rakhmanto mengingatkan pemerintah untuk segera mengambil keputusan akan kelanjutan operasi blok-blok tersebut. Nasib blok migas ini akan menjadi penentu produksi migas Indonesia di masa mendatang. 

“Harus hati-hati memperlakukan blok yang mau habis kontraknya,” katanya.

Bagaimana tidak? Menurut Pri Agung, sekitar 30% produksi migas nasional atau sekitar 635 ribu barel setara minyak per hari merupakan hasil dari 20 blok migas yang selesai kontraknya pada lima tahun mendatang. Jika ditarik lebih jauh, bahkan sampai 61% produksi migas nasional atau setara 1,2 juta barel setara minyak per hari, datang dari blok migas yang habis kontraknya dalam 10 tahun ke depan.

Pemerintah tidak bisa hanya mengandalkan Pertamina untuk menggarap blok-blok migas menjelang kontrak selesai ini. Sebagai entitas bisnis, Pertamina juga harus berhitung dalam memilih blok yang akan diambil alih pengelolaannya.

“Yang rasional saja soal perpanjangan PSC (production sharing contract/kontrak kerja sama),” ujarnya.

Dari delapan blok migas yang selesai kontrak tahun depan, Pertamina sudah menyatakan kesiapannya menggarap enam blok, yakni Blok Tuban, Ogan Komering, South East Sumatera, Sanga-Sanga, North Sumatera Offshore, dan Tengah. Sementara dua blok lainnya, yakni Blok East Kalimantan dan Attaka, perseroan tidak akan melanjutkan evaluasinya.

Sayangnya, Pemerintah kembali ragu soal penugasan tersebut. Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Ego Syahrial beralasan pemerintah harus mengevaluasi rencana pengembangan yang diajukan Pertamina, dibandingkan dengan proposal milik kontraktor eksisting. Kestabilan produksi migas menjadi alasan pemerintah. 

Evaluasi ini dilakukan untuk empat blok, Blok Tuban, Ogan Komering, South East Sumatera, dan Sanga-Sanga. Padahal, salah satu- dari empat blok tersebut, akan berakhir pada Februari 2018.

“Posisi pemerintah adalah, dalam hal produksi tidak boleh turun. Kedua, biaya per barelnya, jangan tambah meningkat," tegas Ego.

Terkait nasib blok migas yang selesai kontraknya pada 2019-2025, pemerintah belum membuat keputusan. Untuk nasib Blok Rokan yang merupakan produsen minyak terbesar saja, Ego mengungkapkan masih banyak waktu untuk memutuskan pengelolaannya,

“Belum, tahun 2021 selesai, 3-4 tahun lagi. Nanti,” kata dia.

Di sisi lain, Pertamina sudah mulai mengincar blok-blok yang kontraknya akan habis ini. Direktur Hulu Pertamina Syamsu Alam mengungkapkan pihaknya sudah melakukan evaluasi terhadap blok-blok tersebut. Walaupun, evaluasi ini sebagian besar masih pada tahap awal lantaran membutuhkan data yang lebih lengkap. Terkait keputusan dari pemerintah, disebutnya memang akan tergantung dari besar kecilnya blok migas tersebut

“Tentu semakin cepat ada keputusan semakin baik, namun semuanya memerlukan proses,” ujarnya.

Perlu Perbaikan

Tidak hanya soal siapa yang memegang pengelolaan blok terminasi ini, Pri Agung juga menyoroti sisi keekonomiannya. Dalam Peraturan Menteri ESDM No. 52 Tahun 2017 yang merupakan revisi Peraturan Menteri 8/2017 soal kontrak migas skema gross split, kontraktor migas baru mendapat pilihan untuk tetap menggunakan kontrak migas cost recovery atau berganti ke gross split ketika kontraknya diperpanjang. 

Jika pemerintah memutuskan untuk mengakhiri kontrak dan menggantinya dengan kontrak baru, seharusnya kontraktor tidak berubah, maka kontrak migas harus menggunakan skema gross split.

“Kalau untuk blok yang sudah berproduksi, bisa mengunakan gross split kontraknya,” kata Pri Agung.

Namun, dia menyarankan agar kontrak migas gross split ini dibuat lebih sederhana. Pasalnya, Indonesia harus bersaing dengan negara lain untuk menggaet investasi. Harga minyak tidak lagi bisa dijadikan alasan rendahnya investasi migas nasional, mengingat investasi migas negara lain mulai membaik. 

Sejak harga minyak rebound pada awal tahun, dikatakannya investasi migas global sudah naik 3-5%. Investasi akan datang ke tempat yang memang nyaman untuk berbisnis. Diakuinya, skema gross split sudah jauh lebih baik ketika Pemerintah merevisi Peraturan Menteri Nomor 8/2017 menjadi Peraturan Menteri Nomor 52/2017. Namun, adanya base split, variable split, dan progressif split membuat hitungan bisnis menjadi sulit.

“Investor sulit menghitung keekonomian karena terlalu banyak “if", ini menambah uncertainty. Lebih baik gross split disederhanakan, dikunci split bagi hasil pemerintah berapa,” sarannya.

Pemerintah disebutnya perlu berbenah. Dari sisi penerimaan, kontribusi sektor migas dikatakannya memang sudah lebih rendah dari sektor pajak. Meski demikian, investasi sektor migas masih cukup signifikan jika dibandingkan investasi total di Indonesia. Pada

2016, investasi di hulu migas tercatat sebesar Rp 151,2 triliun atau mencapai sekitar 25% dari total investasi dalam negeri dan asing Rp 607,25 triliun.

Pada 2014, investasi migas bahkan mencapai setengah dari total investasi nasional, yakni Rp 275,4 triliun dibandingkan dengan Rp 541,28 triliun. Sayangnya, investasi migas nasional justru terus turun tiap tahunnya. Pada 2013, investasi migas nasional menyentuh US$ 22,37 miliar di mana sektor hulu mendominasi dengan realisasi US$ 20,38 miliar dan hilir US$ 1,9 miliar. Realisasi investasi ini

terus temangkas menjadi US$ 21,72 miliar pada 2014, US$ 17,98 miliar pada 2015, dan US$ 12,73 miliar pada 2016.

Kemudian sampai awal Oktober tahun ini, realisasi investasi migas baru mencapai US$ 6,4 miliar atau 41,88% dari target 2017 yang sebesar US$ 15,28 miliar. 

Investor Daily,Page-9, Tuesday, Dec 5, 2017

Rekind Working Gas Processing Facilities Jambaran-Tiung Biru

PT Rekayasa Industri (Rekind) together with JGC Corporation and JGC Indonesia are officially appointed as the main executor of the development of the Gas Processing Facilities (GPF) project for the Jambaran-Tiung Biru Field (JTB).

the Jambaran-Tiung Biru Field

The GPF project of Tiung Biru Project is designed to process gross gas of 330 million standard cubic feet per day / mmscfd and produce 172 mmscfd of gas. In this project, Rekind is believed to be a consortium leader working on engineering, procurement, construction (engineering, procurement, and construction / EPC) of the facility.

The Jambaran-Tiung Biru project itself is planned to be completed in 36 months. Acting President Director of Rekind Jakub Tarigan said GPF Jambaran-Tiung Biru Project is the realization of Rekind involvement in international strategic oil and gas projects.

In this project Rekind is not only required to be able to have a high standard of work in terms of timeliness, cost, quality, and security.

"However, Rekind is also required to present innovation ideas in the field of engineering so that it can provide added value for project owners, government, industry, and society which will benefit from the gas produced," he said in his official statement Monday / 12).

Rekind, a company of EPC Indonesia, has 36 years of experience developing and successfully completing gas processing projects.

Among them, Rekind has built Donggi Gas Production Facilities, Arun LNG Regasification, Compression, and Central Gas Plant Rowing Project, Sumpal Field Compression, PPGS, CO2 Subang Removal, and gas purification units in the fertilizer industry.

IN INDONESIA

Rekind Kerjakan Fasilitas Pemrosesan Gas Jambaran-Tiung Biru

PT Rekayasa industri (Rekind) bersama dengan JGC Corporation dan JGC Indonesia secara resmi ditunjuk sebagai pelaksana utama pembangunan proyek fasilitas pemrosesan gas (Gas Processing Facilities/ GPF) untuk Lapangan Jambaran-Tiung Biru (JTB).

Fasilitas GPF Proyek jambaran Tiung Biru ini dirancang dapat mengolah gas kotor sebesar 330 million standard cubic feet per day/mmscfd dan menghasilkan gas jual 172 mmscfd. Dalam proyek ini Rekind dipercaya untuk menjadi pemimpin konsorsium menggarap rekayasa, pengadaan, konstruksi (engineering, procurement, and construction / EPC) fasilitas tersebut.

Proyek Jambaran-Tiung Biru sendiri direncanakan dapat selesai dikerjakan dalam 36 bulan. Pelaksana Tugas Direktur Utama Rekind Jakub Tarigan menuturkan, Proyek GPF Jambaran-Tiung Biru merupakan realisasi keterlibatan Rekind dalam proyek migas strategis berskala internasional. 

Dalam proyek ini Rekind tidak hanya dituntut untuk mampu memiliki standar kerja yang tinggi dalam hal ketepatan waktu, biaya, kualitas, dan keamanan.

“Namun, Rekind juga dituntut mampu menyuguhkan idei-ide inovasi di bidang engineering sehingga dapat memberikan nilai tambah bagi pemilik proyek, pemerintah, industri, dan masyarakat yang nantinya akan merasakan manfaat dari gas yang dihasilkan,” kata dia dalam keterangan resminya, Senin (4/12).

Rekind yang merupakan perusahaan EPC Indonesia, dalam kurun 36 tahun ini mempunyai pengalaman membangun dan berhasil menyelesaikan proyek-proyek pemrosesan gas. Diantaranya, Rekind telah membangun Fasilitas Produksi Gas Donggi, Regasifikasi Arun LNG, Compresion and Central Gas Plant Proyek Dayung, Compresion Project Lapangan Sumpal, PPGS, CO2 Removal Subang, dan unit-unit pemurnian gas di industri pupuk.

Investor Daily, Page-9, Tuesday, Dec 5, 2017