Opportunities Total E & P-Inpek Gets 39% Shares of Mahakam Block

ESDM Ministry approves Pertamina's application to release 39% of Mahakam block shares

Mail replies between businessmen and government are normal. But perhaps, the letter on the table of the Ministry of Energy and Mineral Resources (ESDM) the most mounting. One is about the Mahakam Block. Currently, the Secretary General of the Ministry of Energy and Mineral Resources is making a reply to PT Pertamina.

The government's reply letter contains the blessing on Pertamina's request for permission to release Mahakam Block shares up to a maximum of 39%. The release of the letter later, as well as revise the previous letter in the form of 30% Participating Interest (PI) participation rights for Total E & P Indonesie and Inpex Corporation that came out in the ESDM Minister Sudirman Said's era. The change of direction of the wind was not long ago.

"Yes revision, Pertamina who filed, the government made the letter up to 39%, it was last night," explained Deputy Minister of Energy and Mineral Resources Arcandra Tahar When met at the Ministry of Energy and Mineral Resources, Jakarta, Thursday (7/12).

Although Total E & P and Inpex have the opportunity to re-take part in the management of the Mahakam, the government ensures control remains in Pertamina. The government-owned company acts as an operator.

However, none of Pertamina's management contacted confirmed the news of the application for permission to divest the 39% Mahakam Block to the Ministry of ESDM. The day before this news, Pertamina insisted never sent the letter to the Ministry of Energy and Mineral Resources. (KONTAN, December 7, 2017)

Pertamina's response came out of Pertamina's Investment and Risk Management Director, Gigih Prakoso. Instead of providing certainty, he explains if the asset valuation valuation of the Mahakam Block is over. The next step, Pertamina, Total E & P and Inpex just match the value of the valuation.

"Next week we'll meet again to match the numbers," said Gigih

Be a precedent

Harry Poernomo, Member of Commission VII of the House of Representatives (DPR) of the Republic of Indonesia considers, re-entry of Total E & P and Inpex need not cause any worries. Therefore, the acquisition is a waiar action in the oil and gas industry. In fact, in that condition. Pertamina benefits because it can share the risk. The strategy to share those risks has been underway in the management of the previous Mahakam Block.

Total E & P releases 50% of Mahakam shares to Inpex. Meanwhile, Gajah Mada University Economic and Energy Observer Fahmy Radhi is of the opinion that business to business (B2B) Pertamina must maintain maximum 30% share disbursement to Total E & P and Inpex and must serve as operator.

Mahakam Block disbursement permit application up to 39% precisely signifies Pertamina not confident. If so, the actions of Pertamina are not the same as the realtor of the Mahakam block sale. Pertamina's action could be a precedent. Initially Sudirman Said gave 100% PI rights to Pertamina and now 39% of them are for Total E & P.

"If fulfilled, with the same mode Total ask again to 51%," he said.

IN INDONESIA

Peluang Total E&P-Inpek Mendapatkan 39% Saham Blok Mahakam

Kementerian ESDM merestui permohonan Pertamina melepas 39% saham Blok Mahakam

Balas-balasan surat antara pengusaha dan pemerintah adalah hal yang wajar. Namun boleh jadi, surat di meja Kementerian Energi dan Sumber Daya Mineral (ESDM) yang paling menggunung. Salah satunya tentang Blok Mahakam. Saat ini, Sekretaris Jendral Kementerian ESDM tengah membuat surat balasan kepada PT Pertamina.

Surat balasan pemerintah berisi restu atas permohonan Pertamina yang meminta izin melepas saham Blok Mahakam hingga maksimal 39%. Keluarnya surat itu nanti, sekaligus merevisi surat terdahulu berupa restu hak partisipasi alias participating interest (PI) 30% untuk Total E&P Indonesie dan Inpex Corporation yang keluar di era Menteri ESDM Sudirman Said. Perubahan arah angin itu belum lama terjadi. 

"Ya revisi, Pertamina yang mengajukan, pemerintah membuat suratnya up to 39%, itu tadi malam," jelas Wakil Menteri ESDM Arcandra Tahar Saat ditemui di Kementerian ESDM, Jakarta, Kamis (7/12).

Meskipun Total E&P dan Inpex berpeluang kembali mengambil bagian dalam pengelolaan Mahakam, pemerintah memastikan kendali tetap ada di Pertamina. Perusahaan milik pemerintah itu bertindak sebagai operator.

Hanya saja, tidak satupun manajemen Pertamina yang dihubungi mengonfirmasi kabar pengajuan surat permohonan izin divestasi 39% Blok Mahakam ke Kementerian ESDM. Sehari sebelum pemberitaan ini, Pertamina menegaskan tidak pernah mengirimkan surat bermuatan itu kepada Kementerian ESDM. (KONTAN, 7 Desember 2017)

Respons Pertamina keluar dari dari Direktur Perencanaan Investasi dan Manajemen Resiko Pertamina, Gigih Prakoso. Alih-alih memberikan kepastian, dia menjelaskan jika penghitungan valuasi aset Blok Mahakam sudah selesai. Langkah selanjutnya, Pertamina, Total E&P dan Inpex hanya mencocokkan nilai valuasi tersebut.

"Pekan depan kami akan ketemu lagi untuk mencocokan angka," kata Gigih

Menjadi preseden

Harry Poernomo, Anggota Komisi VII Dewan Perwakilan Rakyat (DPR) Republik Indonesia menilai, masuknya kembali Total E&P dan Inpex tidak perlu mendatangkan kekhawatiran. Sebab, akuisisi adalah aksi waiar dalam industri migas. Malah, dalam kondisi tersebut. Pertamina diuntungkan karena bisa membagi risiko. Strategi membagi risiko tersebut sudah berjalan dalam pengelolaan Blok Mahakam sebelumnya. 

Total E&P melepas 50% saham Mahakam ke Inpex. Sementara Pengamat Ekonomi dan Energi Universitas Gajah Mada Fahmy Radhi berpendapat, secara business to business (B2B) Pertamina harus mempertahankan pelepasan saham maksimal 30% ke Total E&P dan Inpex dan harus berperan sebagai operator. 

Permohonan izin pelepasan saham Blok Mahakam hingga 39% justru menandakan Pertamina tidak percaya diri. Kalau benar begitu, tindakan Pertamina tidak ubahnya sebagai makelar penjualan saham Blok Mahakam. Aksi Pertamina bisa menjadi preseden. Awalnya Sudirman Said memberikan 100% hak PI ke Pertamina dan kini 39% di antaranya untuk Total E&P. 

"Kalau dipenuhi, dengan modus sama Total minta lagi menjadi 51%," katanya.

Kontan, Page-14, Friday, Dec 8, 2017

Total & Inpex Signals Return to Mahakam

The government issued a decree on the share of PT Total E & P lndonesie and Inpex on Mahakam block which gives space for both companies up to 39%.

Based on the ESDM Minister Decree issued by Sudirman Said in 2015, Total and lnpex can re-enter Mahakam Block with 30% maximum stock limit. The revision of the letter allows Total and Inpex to own up to 39% in the Mahakam Block.

the Mahakam Block.

Currently, Total E & P lndonesie is the operator of Mahakam Block in partnership with lnpex with 50% share ownership. However, the contracts of both companies will expire on December 31, 2017. PT Pertamina takes over 100% of Mahakam block shares. However, the government still gives the opportunity to Total and Inpex to remain in Mahakam.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said that it is preparing a change of Decree previously issued in 2015 to increase the space for the current contractors.

"The change from 30% to 39%," he said on Wednesday (6/12).

In early 2017, Minister of EMR lagasius Jonan opened space for Total E & P lndonesie and Inpex in order to have 39% participation in the Mahakam Block. According to him, the letter is currently in the process of change in the Bureau of the Ministry of Energy and Mineral Resources.

The change in the decree, Arcandra said, refers to Pertamina's request to change the offer space for the current contractor. Thereafter, the government is drafting its letter of amendment to accommodate a reduction in the participation of Pertamina's Mahakam Block on a business basis.

Since the cooperation contract signed in 2015, Pertamina has a 100% share of participation. The new contract will be valid for 20 years starting from 1 January 2018. In addition, the signature bonuses paid to the government amount to US $ 41 million with a dynamic revenue sharing scheme.

To stimulate exploration activities in the Mahakam Block, the government has set incentives in the form of a block-based and previously ground-based development plan as well as a 17% credit investment grant.

"Pertamina is proposing [Letter for Total and Inpex ownership up to 39%]. Up to [39% samples, not necessarily 39%. "

According to Arcandra, the change points on the decree only mention about the maximum space for the contractor when the letter also does not change the position of Pertamina as an operator. However, Total E & P Indonesia and Inpex are unwilling to pick up the phone when attempting to be contacted. Pertamina will invest US $ 3.32 billion in 2018 in the upstream oil and gas sector.

IN INDONESIA

Sinyal Total & Inpex Kembali ke Mahakam

Pemerintah mengelurkan Surat Keputusan Menteri ESDM tentang bagian saham PT Total E&P lndonesie dan lnpex di Blok Mahakam yang memberikan ruang bagi kedua perusahaan itu hingga 39%.

Berdasarkan Surat Keputusan Menteri ESDM yang dikeluarkan Sudirman Said pada 2015, Total dan lnpex bisa masuk kembali ke Blok Mahakam dengan batas maksimal saham 30%. Revisi surat itu memungkinan Total dan lnpex memiliki saham hingga 39% di Blok Mahakam.

Saat ini, Total E&P lndonesie menjadi operator Blok Mahakam bermitra dengan lnpex dengan kepemilikan saham masing-masing 50%. Namun, kontrak kedua perusahaan itu akan berakhir pada 31 Desember 2017. PT Pertamina mengambil alih 100% saham Blok Mahakam. Namun, pemerintah masih memberikan kesempatan kepada Total dan lnpex untuk tetap berada di Mahakam.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan bahwa pihaknya sedang menyusun perubahan Surat keputusan yang sebelumnya diterbitkan pada 2015 untuk menambah ruang bagi kontraktor saat ini.

“Perubahan dari 30% ke 39% itu,” ujarnya, Rabu (6/12).

Pada awal 2017, Menteri ESDM lgnasius Jonan membuka ruang bagi Total E&P lndonesie dan Inpex agar bisa memiliki bagian partisipasi Blok Mahakam hingga 39%. Menurutnya, saat ini Surat sedang dalam proses perubahan di Biro Hukum Kementerian ESDM.

Perubahan surat keputusan tersebut, tutur Arcandra merujuk pada permintaan Pertamina untuk mengubah ruang penawaran bagi kontraktor saat ini. Setelah itu, pemerintah sedang menyusun perubahan suratnya untuk mengakomodasi pengurangan bagian partisipasi Blok Mahakam milik Pertamina secara bisnis.

Sejak kontrak kerja sama yang ditandatangani pada 2015, Pertamina menguasai saham partisipasi sebesar 100%. Kontrak baru akan berlaku 20 tahun terhitung sejak 1 Januari 2018. Selain itu, bonus tanda tangan yang dibayarkan kepada pemerintah sebesar US$ 41 juta dengan skema bagi hasil dinamis. 

Untuk memacu kegiatan eksplorasi di Blok Mahakam, pemerintah telah menetapkan insentif berupa rencana pengembangan berbasis blok dan sebelumnya berbasis lapangan serta pemberian investasi kredit 17%.

“Pertamina yang mengajukan [Surat agar kepemilikan Total dan Inpex sampai 39%]. Up to [sampail 39%, bukan harus 39%.”

Menurut Arcandra, poin perubahan pada surat keputusan hanya menyinggung tentang ruang maksimum bagi kontraktor saat surat itu juga tidak mengubah posisi Pertamina sebagai operator. Namun, pihak Total E&P Indonesia dan lnpex tidak bersedia mengangkat telepon ketika berusaha untuk dihubungi. Pertamina akan menginvestasikan dana US$3,32 miliar pada 2018 di sektor hulu migas. 

Bisnis Indonesia, Page-30, Friday, Dec 8, 2017

Oil Prices Projected Stronger

The price of crude oil in 2018 is projected to be in the range of US $ 50-US $ 60 per barrel. Marjolijn Wajong, Executive Director of Indonesian Petroleum Association (IPA), said oil prices in 2018 are in the range of US $ 50-US $ 60 per barrel, but depend on the commitment of the Organization of the Petroleum Exporting Countries (OPEC) to reduce production.

Quoted from Commodity Market Outlook 2018 released Thursday (26/10), the World Bank estimates crude oil prices to reach US $ 60 per barrel in 2018 driven by rising demand and continuing OPEC production cuts.

The strengthening of oil prices is influenced by several things. First, the high demand and decrease of oil stock. Second, OPEC and non-OPEC countries commit to reducing oil production.

 "Will remain at US $ 50, US $ 60," he said on Wednesday (6/12).

He assessed that the rising oil prices will not directly boost exploration activities in Indonesia. According to him, the key to attract investment both in exploration activities and oil and gas exploitation is the attractiveness of Indonesia in the eyes of investors. Investments needed to find new sources of oil and gas reserves also increase national oil and gas production,

Based on the report of Global Petroleum Survey 2017, Indonesia ranks at the bottom of investment attractiveness. Of 97 countries, Indonesia is ranked 92th along with Ecuador in 93th position. Successive Iraq, Libya, Bolivia, and Venezuela are the most avoided investors of upstream oil and gas sector.

The survey was conducted from May to July 2017 involving 333 respondents from top executives from CEOs, President Directors, and directors, managers, advisers, negotiators, consultants, geologists and economists. From the survey, it was generated that Indonesia got a score of 35.02 or down from last year's score of 45.83 at number 79.

IPA President Ronald Gunawan said that throughout 2017 the association's cooperation with the government is good enough with a number of regulatory changes. For example, Minister of Energy and Mineral Resources Regulation no. 8/2017 on Production Sharing Contracts of Gross Split Result and its revision is Ministerial Regulation no. 52/2017.

In the next year, he said, the association will increase cooperation with the government to improve the investment competitiveness through six priority points. Another achievement is the issuance of Government Regulation no. 27/2017 on amendment to Government Regulation no. 79/2010 which regulates the treatment of income tax and refundable operating expenses.

The six points consist of taxes applied in gross split share contracts. Second, cross-ministerial and institutional licensing issues. Third, the continuation of the Oil and Gas Bill process. Fourth, the formulation of upstream gas prices that can support new investment.

Fifth, the rules on implementing the advanced dewatering activities (enhanced oil recovery (EOR). Sixth, the regulation on the application of supply and shareholding of the participation of 10% oil and gas blocks to the Regional Owned Enterprises (BUMD).

IN INDONESIA

Harga Minyak Diproyeksi Kian Menguat

Harga minyak mentah pada 2018 diproyeksikan akan berada di kisaran US$50-US$60 per barel. Direktur Eksekutif Indonesian Petroleum Association (IPA) Marjolijn Wajong mengatakan bahwa harga minyak pada 2018 berada di kisaran US$50-US$60 per barel, tetapi bergantung pada komitmen Organisasi Negara Eksportir Minyak (Organization of the Petroleum Exporting Countries/OPEC) untuk mengurangi produksi.

Dikutip dari Commodity Market Outlook 2018 yang dirilis Kamis (26/10), Bank Dunia memperkirakan harga minyak mentah mencapai US$ 60 per barel pada 2018 didorong oleh naiknya permintaan dan berlanjutnya komitmen pemangkasan produksi oleh OPEC.

Penguatan harga minyak dipengaruhi oleh beberapa hal. Pertama, tingginya permintaan dan penurunan stok minyak. Kedua, komitmen OPEC dan negara non-OPEC untuk mengurangi produksi minyak.

 “Akan tetap berada di US$50, US$60," ujarnya, Rabu (6/12).

Dia menilai, harga minyak yang mulai naik ini tidak akan Iangsung mendongkrak kegiatan eksplorasi di Indonesia. Menurutnya, kunci untuk menarik investasi baik pada kegiatan eksplorasi maupun eksploitasi migas adalah adanya daya tarik Indonesia di mata investor. Investasi dibutuhkan untuk mencari sumber-sumber cadangan baru penghasil migas juga meningkatkan produksi migas nasional,

Berdasarkan laporan Global Petroleum Survey 2017, peringkat Indonesia berada di urutan terbawah dari sisi daya tarik investasi. Dari 97 negara, Indonesia berada di peringkat 92 bersama Ekuador di posisi 93. Berturut-turut Irak, Libya, Bolivia, dan Venezuela sebagai negara yang paling dihindari investor sektor hulu migas.

Survei dilakukan mulai Mei hingga Juli 2017 dengan melibatkan 333 responden yang berasal dari petinggi perusahaan setara CEO, Presiden direktur, dan direktur, manajer, penasihat, negosiator, konsultan, geolog, dan ekonom. Dari survei tersebut, dihasilkan bahwa Indonesia mendapat skor 35,02 atau turun dari skor tahun lalu yakni 45,83 di urutan 79.

Presiden IPA Ronald Gunawan mengatakan bahwa sepanjang 2017 kerja sama asosiasi dengan pemerintah sudah cukup baik yakni dengan sejumlah perubahan regulasi. Sebagai contoh, Peraturan Menteri ESDM No. 8/2017 tentang Kontrak Bagi Hasil Hasil Gross Split dan revisinya yakni Peraturan Menteri No. 52/2017.

Pada tahun depan, dia menyebut, asosiasi akan meningkatkan kerja sama dengan pemerintah untuk meningkatkan daya saing investasi melalui enam poin prioritas. Pencapaian lainnya yakni keluarnya Peraturan Pemerintah No. 27/2017 tentang perubahan Peraturan Pemerintah No. 79/2010 yang mengatur tentang perlakuan pajak penghasilan dan biaya operasi yang bisa dikembalikan.

Keenam poin itu terdiri atas perpajakan yang diterapkan dalam kontrak bagi hasil kotor atau gross split. Kedua, masalah perizinan lintas kementerian dan lembaga. Ketiga, kelanjutan proses RUU Minyak dan Gas Bumi. Keempat, perumusan harga gas hulu yang bisa mendukung investasi baru. 

Kelima, aturan tentang implementasi kegiatan pengurasan lanjutan atau enhanced oil recovery (EOR). Keenam, regulasi tentang penerapan penawaran dan penanggungan saham partisipasi 10% blok migas kepada Badan Usaha Milik Daerah (BUMD).

Bisnis Indonesia, Page-30, Friday, Dec 8, 2017

Indonesia Freezes Membership at OPEC

The Government decided to no longer activate the membership of Indonesia in the Organization of Petroleum Exporter Countries (OPEC).

"There are several reasons, obviously the decision is still difreeze," said Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar in Jakarta, Tuesday (5/12) night.

Unfortunately, Arcandra is reluctant to disclose the government's consideration to remain inactive at OPEC. He also denied that the decision was taken because Indonesia would still not cut its oil and gas production, while OPEC members are required to restrain production. The answer has been formally submitted by the Indonesian side.

"We answered a month ago, that we remain in a condition to freeze," he said.

Previously, Indonesia decided to temporarily suspend OPEC membership during the OPEC 171th Session in Vienna, Austria, November 2016. At that time, the decision was taken because the trial decided to cut crude output by 1.2 million barrels per day (bpd) outside the condensate. The trial also asked Indonesia to cut about 5% of its production, or about 37 thousand bpd.

Then, in the middle of this year, Indonesia was asked to reactivate the membership submitted by the Minister of Energy of Saudi Arabia and the United Arab Emirates. At that time, Minister of Energy and Mineral Resources, Ignasius Jonan, proposed the requirement for reactivation, ie no cuts in oil and gas production for Indonesia.

It said Arcandra's decision not to return actively at OPEC would not disrupt the procurement of crude oil through imports. Because the import of crude oil must be from OPEC member countries. Determination of import sources should be calculated on the basis of its economy.

"Oil import decisions from the commercial side, not necessarily from OPEC. As long as the price is economical and best, we can import from anywhere, "explained Arcandra.

IN INDONESIA

Indonesia Bekukan Keanggotaan di OPEC

Pemerintah memutuskan untuk tidak lagi mengaktivasi keanggotaan Indonesia di Organisasi Negara-Negara Pengekspor Minyak (Organization of Petroleum Exporter Countries/ OPEC).

“Ada beberapa alasan, yang jelas keputusannya tetap difreeze,” kata Wakil Menteri Energi dan Sumber Daya Mineral (ESDM)

Arcandra Tahar di Jakarta, Selasa (5/12) malam.

Sayangnya, Arcandra enggan mengungkapkan pertimbangan pemerintah untuk tetap tidak aktif di OPEC tersebut. Dia juga menampik bahwa keputusan itu diambil karena Indonesia tetap tidak akan memangkas produksi migasnya, sementara anggota OPEC diwajibkan menahan produksinya. Jawaban tersebut telah disampaikan secara resmi oleh pihak Indonesia. 

“Kami jawab sebulan lalu, bahwa kita tetap dalam kondisi untuk freeze,” ujarnya.

Sebelumnya, Indonesia memutuskan untuk membekukan sementara keanggotaan OPEC saat dalam Sidang ke- 171 OPEC di Wina, Austria, November 2016. Waktu itu, keputusan tersebut diambil karena sidang memutuskan untuk memotong produksi minyak mentah sebesar 1,2 juta barel per hari (bph), di luar kondensat. Sidang juga meminta Indonesia untuk memotong sekitar 5% dari produksinya, atau sekitar 37 ribu bph.

Kemudian, pada pertengahan tahun ini, Indonesia diminta melakukan reaktivasi keanggotaan yang disampaikan oleh Menteri Energi Arab Saudi dan Persatuan Emirat Arab. Saat itu Menteri ESDM Ignasius Jonan mengajukan syarat untuk reaktivasi, yakni tidak ada pemotongan produksi migas bagi Indonesia.

Dikatakan Arcandra keputusan untuk tidak kembali aktif di OPEC tidak akan menganggu pengadaan minyak mentah melalui impor. Pasalnya, impor minyak mentah harus dari negara-negara anggota OPEC. Penentuan sumber impor harus dihitung berdasarkan keekonomiannya.

“Impor minyak keputusannya dilihat dari sisi komersial, not necessary harus dari OPEC. Selama harga ekonomis dan terbaik, kita bisa impor dari mana saja,” jelas Arcandra.

Investor Daily, Page-9, Thursday, Dec 7, 2017

2018, Upstream Investment of Pertamina Reaches US $ 3.32 M

State-owned oil and gas company PT Pertamina has allocated up to US $ 3.32 billion for next year's upstream sector, up 21.16 percent from this year's US $ 2.74 billion. The investment budget has increased significantly since the company has started working on 100% of Mahakam block in 2018.

Senior Vice President of Strategic Planning and Operation Evaluation Pertamina Meidawati said it is not the only project that will boost the company's investment budget by 2018. Next year, many geothermal projects will start operations, namely Lumut Balai 1 and 2 and Hulu Lais. Not only that, the company also intends to add oil and gas block through acquisition.

"The largest investment of Mahakam, which is US $ 659 million. Then, there is funding for acquisition of US $ 590 million and geothermal project of US $ 183.2 million, "he said in Jakarta, Wednesday (6/12).

In Mahakam block, the company will be aggressive to drill wells. Based on data from PT Pertamina Hulu Indonesia, the development wells to be drilled in the oil and gas blocks reach 55-57 wells, and could reach 70 wells if oil prices improve to US $ 60-70 per barrel.

Not only that, the company will also re-work in 132 wells, run care for 5601 wells, and work on up to seven plans of future development (POFD).

For the acquisition budget, Upstream Director of Pertamina Syamsul Alam said that it will be used to finance the oil and gas block which is completed by next year's contract which is handed over to the company. Of the eight blocks assigned, the company has expressed readiness to work on six blocks, namely the North Sumatera Offshore Block, South East Sumatra, Tuban, Ogan Komering, Sanga-Sanga and Central.

"Maybe it's the acquisition budget for the investment cost of the block that will terminate within the next year" he said. "

While abroad, it is still looking for cooperation opportunities in the upstream oil and gas sector with Rosneft Oil Company, after canceled take two blocks offered The Northern Tip of Chayvo Field and Russkoye Field. Not only that, the company is also studying the prospects of other oil and gas abroad, namely in Africa and the Middle East.

In 2018, the company also targets to sign the Mansouri Block contract in Iran. In line with the increase in investment, the company's oil and gas production is also targeted to jump high enough in 2018. Next year, oil and gas production is targeted to reach 930 thousand barrels of oil equals per day / boepd. This figure rose 34.2% compared to oil and gas production target This year 693 thousand boepd.

The increase in production occurs both for oil and gas. Oil production is up only 19.7 percent from this year's target of 334 thousand barrels per day (bpd) this year to 400 thousand bpd in 2018. While gas production jumped 47.55 percent from the 2017 target of 2,080 million standard cubic feet per day / mmscfd to 3.069 mmscfd next year.

"The main production increase from the Mahakam Block is targeted to produce 46 thousand bpd of gas and 1,008 mmscfd of gas," said Meidawati.

Chase 1.9 Million BOEPD

Alam said that the company's oil and gas production is targeted to increase annually to reach 1.9 million boepd by 2025. The increase in production is derived from the optimization of existing assets, the acquisition of oil and gas blocks, and the acquisition of oil and gas assets in other countries.

This step is needed to minimize the difference between national oil and gas production and demand in the coming years. In the future, Pertamina targets the contribution of foreign assets to reach 33 percent of total oil and gas production in 2025. Of the target of 1.9 million boepd, overseas assets are expected to contribute 650 thousand bpd. For oil production, targeted to reach

822 thousand bpd in 2025, which is 353 thousand bpd from domestic and 469 thousand bpd from abroad.

As for gas, it is targeted to increase to 5.71 billion cubic feet per day, ie 4.23 billion cubic feet of domestic and 1.48 billion cubic feet of foreign assets.

"Our performance from 2008 to 2016, oil and gas production continues to grow. So we can prove that we can still grow, he said.

Going forward, Pertamina targets oil and gas production to grow steadily at 8% per year, while gas reserves increase by 4.4% per year. Currently, Pertamina already has oil and gas blocks in several countries. In lrak, the company owns shares in West Field Qurna 1. In Algeria, Pertamina owns 65% stake in MLN Field and 16.9% in EMK Field.

While in Malaysia, the company holds shares ownership in Block K, Kikeh Block, SN30 Block Block SK309 and Block SK311. Most recently, Pertamina controls 72.65% shares of French oil and gas company, Maurel & Prom. Maurel & Prom has oil and gas assets scattered 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.

IN INDONESIA

2018, Investasi Hulu Pertamina Capai US$ 3,32 M

PT Pertamina menganggarkan modal investasi untuk sektor hulu pada tahun depan mencapai US$ 3,32 miliar, naik 21 ,1 6% dibandingkan anggaran investasi tahun ini US$ 2,74 miliar. Anggaran investasi meningkat signifikan Iantaran perseroan sudah mulai menggarap Blok Mahakam 100% pada 2018.

Senior Vice President Strategic Planning and Operation Evaluation Pertamina Meidawati mengatakan bukan satu-satunya proyek yang mendongkrak anggaran investasi perseroan pada 2018. Pada tahun depan, banyak proyek panas bumi yang bakal mulai operasi, yakni Lumut Balai 1 dan 2 serta Hulu Lais.  Tidak hanya itu, perseroan juga masih berniat menambah blok migas melalui akuisisi. 

“Investasi Mahakam yang terbesar, yaitu US$ 659 juta. Kemudian, ada dana untuk akuisisi US$ 590 juta dan proyek geothermal US$ 183,2 juta,” kata dia di Jakarta, Rabu (6/12).

Di Blok Mahakam, perseroan bakal agresif melakukan pengeboran sumur. Berdasarkan data PT Pertamina Hulu Indonesia, sumur pengembangan yang akan dibor di blok migas tersebut mencapai 55-57 sumur, dan bisa mencapai 70 sumur jika harga minyak membaik menjadi US$ 60-70 per barel. 

Tidak hanya itu, perseroan juga akan melakukan kerja ulang di 132 sumur, menjalankan perawatan untuk 5601 sumur, serta menggarap hingga tujuh rencana pengembangan tahap lanjut (plan of future development/POFD).

Untuk anggaran akuisisi, Direktur Hulu Pertamina Syamsul Alam menuturkan, akan dipakai untuk mendanai blok migas yang selesai kontraknya tahun depan yang diserahkan pengelolaannya ke perseroan. Dari delapan blok yang ditugaskan, perseroan telah menyatakan siap menggarap enam blok, yakni Blok North Sumatera Offshore, South East Sumatera, Tuban, Ogan Komering, Sanga-Sanga, dan Tengah.

“Mungkin itu anggaran akuisisi biaya untuk investasi dari blok yang akan terminasi dalam tahun depan” tuturnya. " 

Sementara di luar negeri, pihaknya masih terus mencari peluang kerja sama untuk di sektor hulu migas dengan Rosneft Oil Company, setelah batal mengambil dua blok yang ditawarkan yakni Lapangan The Northern Tip of Chayvo dan Lapangan Russkoye. Tidak hanya itu, perseroan juga sedang mempelajari prospek migas lain di luar negeri, yakni di Afrika dan timur tengah.

Pada 2018, perseroan juga menargetkan bisa menandatangani kontrak Blok Mansouri di Iran. Sejalan dengan peningkatan investasi, produksi migas perseroan juga ditargetkan melonjak cukup tinggi pada 2018. Pada tahun depan, produksi minyak dan gas bumi perusahaan ditargetkan mencapai 930 ribu barrel oil equwalent per day/ boepd. Angka tersebut naik 34,2% jika dibandingkan target produksi migas Tahun ini 693 ribu boepd.

Kenaikan produksi terjadi baik untuk minyak maupun gas. Produksi minyak memang hanya naik 19,7% dari target tahun ini 334 ribu barel per hari (bph) pada tahun ini menjadi 400 ribu bph di 2018. Sementara produksi gas melonjak 47,55% dari target 2017 sebesar 2.080 million standard cubic feet per day/ mmscfd menjadi 3.069 mmscfd pada tahun depan. 

“Kenaikan produksi utamanya dari Blok Mahakam yang ditargetkan menghasilkan minyak 46 ribu bph dan gas 1.008 mmscfd,” tutur Meidawati.

Kejar 1,9 Juta BOEPD 

Alam menuturkan, produksi migas perseroan ditargetkan terus meningkat setiap tahunnya hingga mencapai 1,9 juta boepd pada 2025. Peningkatan produksi diperoleh dari optimasi aset eksisting, pengambilalihan blok migas habis kontrak, dan akuisisi aset migas di negara lain.

Langkah ini diperlukan untuk memperkecil selisih produksi dan kebutuhan migas nasional di tahun-tahun mendatang. Ke depannya, Pertamina menargetkan kontribusi dari aset luar negeri ini bisa mencapai 33% dari total produksi migas perseroan pada 2025. Dari target 1,9 juta boepd, aset luar negeri diharapkan bisa menyumbang 650 ribu bph. Untuk produksi minyak, ditargetkan mencapai 822 ribu bph pada 2025, yakni 353 ribu bph dari dalam negeri dan 469 ribu bph dari luar negeri. 

Sementara untuk gas, ditargetkan meningkat menjadi 5,71 miliar kaki kubik per hari, yaitu 4,23 miliar kaki kubik dari domestik dan 1,48 miliar kaki kubik dari aset luar negeri.

“Performance kami dari 2008 sampai 2016, produksi migas terus tumbuh. Jadi kami bisa membuktikan bahwa kami masih bisa tumbuh, kata dia.

Ke depan, Pertamina menargetkan produksi migas tumbuh stabil sebesar 8% per tahun, sementara cadangan gas bertambah 4,4% per tahun. Saat ini, Pertamina telah memiliki blok migas di beberapa negara. Di lrak, perseroan memiliki saham di Lapangan West Qurna 1. Di Aljazair, Pertamina itu menguasai 65% saham di Lapangan MLN dan 16,9% di Lapangan EMK. 

Sementara di Malaysia, perseroan memegang kepemilikan saham di Blok K, Blok Kikeh, Blok SNR Blok SK309 dan Blok SK311. Yang terbaru, Pertamina menguasai 72,65% saham perusahaan migas Perancis, Maurel&Prom. Maurel&Prom memiliki aset migas yang tersebar di Gabon, Nigeria, Tanzania, Namibia, Kolombia, Kanada, Myanmar, Italia, dan negara lainnya. Namun, aset utamanya yang telah berproduksi yakni di Gabon, Nigeria, dan Tanzania.

Investor Daily, Page-9, Thursday, Dec 7, 2017

Total EP shares in Mahakam Stay 30%

PT Pertamina claims to never send a letter to the Ministry of Energy and Mineral Resources (ESDM) which stated willing to give 39% stake to Total EP. The reason is that Pertamina still holds a letter from the Minister of EMR Sudirman Said, then, that the Total EP section in Mahakam is only 30% stake.

Just so you know, the Total EP contract in the Mahakam Block will expire on 31 December 2017 and 1 January 2018, the gas block will be managed by Pertamina. The transfer of 100% block of Mahakam block will belong to Pertamina already signed since 2015.

After the Blok-Mahakam was awarded to Pertamina, in 2016, Sudirman decided to grant 30% participating interest (PI) through a formal letter to PT Pertamina. The business to business scheme (B to B) alias is not free.

the Mahakam block

After the letter down, Pertamina immediately formed a team between Pertamina, SKK Migas and Total EP to make the transition process. Even Upstream Director of Pertamina Syamsu Alam and Pertamina's President Director Dwi Soetjipto flew to France to discuss the Mahakam block, whether they wanted to manage or not. The answer then was surprising.

"When we met in France in 2016, BOD Total said it was not focused on the Mahakam block, or there was no interest in the Mahakam block anymore," said Syamsu, Wednesday (6/12).

After a while, entering 2017, Pertamina and Total EP continue to discuss the transition period. At that time Total EP only drilled about six wells in the Mahakam Block, when they should have drilled more. Nevertheless, Pertamina know. As a result, Pertamina decided to conduct further drilling in Mahakam.

"We drilled this year, but the production is done next year," he added.

Syamsu explained that the transition process is already running smoothly. Until a few months ago, Total EP in a forum expressed interest in managing the Mahakam Block if its shares increased to 39%, from the previous only 30%.

"They say it like that in the forum and have sent a letter to the ESDM Minister asking for 39% of the shares," he said.

However, Pertamina only obeys what has been written since the beginning that Total EP only gets 30% PI in the Mahakam Block.

"So it is not true that Pertamina sent a letter to the government to give additional shares to Total EP to 39%,"

he said.

Syamsu added, it does not matter if until the end of the contract runs out Total EP does not conduct transactions with Pertamina related to their participation. Because, it has prepared a fund of US $ 700 million for investment in the Mahakam Block.

"If Total EP goes in the middle of 2018, it's okay, but then we'll talk about the price, because we already have the Mahakam asset now," he explained.

IN INDONESIA

Saham Total EP di Mahakam Tetap 30%

PT Pertamina mengklaim tidak pernah mengirimkan surat kepada Kementerian Energi dan Sumber Daya Mineral (ESDM) yang menyatakan bersedia memberikan 39% saham ke Total EP. Dalihnya, Pertamina masih memegang surat dari Menteri ESDM Sudirman Said, saat itu, bahwa bagian Total EP di Mahakam hanya 30% saham.

Asal tahu saja, kontrak Total EP di Blok Mahakam akan habis 31 Desember 2017 dan 1 Januari 2018, blok gas itu akan dikelola Pertamina. Surat pengalihan Blok Mahakam 100% akan menjadi milik Pertamina sudah ditandatangani sejak tahun 2015 lalu.

Setelah Blok-Mahakam diberikan kepada Pertamina, tahun 2016 lalu, Sudirman memutuskan memberikan Total EP hak partisipasi atau participating interest (PI) sebesar 30% melalui surat resmi kepada PT Pertamina. Skemanya business to business (B to B) alias tidak gratis.

Setelah surat tersebut turun, Pertamina langsung membentuk tim antara Pertamina, SKK Migas dan Total EP untuk melakukan proses transisi. Bahkan Direktur Hulu Pertamina Syamsu Alam dan Direktur Utama Pertamina Dwi Soetjipto terbang ke Prancis untuk mendiskusikan soal Blok Mahakam tersebut, apakah ingin ikut mengelola atau tidak. Jawaban saat itu cukup mengejutkan. 

"Waktu kami bertemu di Prancis 2016 lalu, BOD Total menyatakan tidak fokus dengan Blok Mahakam, atau tidak terlihat ketertarikan terhadap Blok Mahakam lagi," ungkap Syamsu, Rabu (6/12).

Setelah beberapa lama, memasuki tahun 2017, Pertamina dan Total EP terus mendiskusikan soal masa transisi. Saat itu Total EP hanya mengebor sekitar enam sumur di Blok Mahakam, padahal seharusnya mereka mengebor lebih banyak. Meski demikian, Pertamina maklum. Alhasil, Pertamina memutuskan melakukan pengeboran lanjutan di Mahakam. 

"Kami mengebor tahun ini, tetapi produksinya dilakukan tahun depan," imbuhnya.

Syamsu menjelasakan, proses transisi tersebut sebenarnya sudah berjalan mulus. Sampai beberapa bulan lalu ternyata Total EP dalam sebuah forum menyatakan berminat mengelola Blok Mahakam jika sahamnya ditambah menjadi 39%, dari yang sebelumnya hanya 30%. 

"Mereka bilang seperti itu di forum dan sudah mengirim surat ke Menteri ESDM meminta 39% saham itu," ujarnya.

Meski demikian, Pertamina hanya menuruti apa yang sudah tersurat sejak awal bahwa Total EP hanya mendapat 30% PI di Blok Mahakam. 

"Jadi tidak benar Pertamina mengirim Surat ke pemerintah untuk memberikan tambahan saham ke Total EP menjadi 39% itu,"

ungkap dia.

Syamsu menambahkan, tidak masalah jika sampai akhir kontrak habis Total EP tidak melakukan transaksi dengan Pertamina terkait keikutsertaan mereka. Sebab, pihaknya sudah menyiapkan dana sebesar US$ 700 juta untuk investasi di Blok Mahakam. 

"Kalau Total EP masuk di tengah-tengah 2018, tidak apa apa juga. Tapi nanti kita bicara tentang harganya, karena kami sudah punya hitungan aset Mahakam sekarang," jelas dia.

Kontan, Page-14, Thursday, Dec 7, 2017

The Elephant Nail Project Meets the Needs of the Gumbola Gas

The development of the Paku Gajah or Paku Gajah Development Project, implemented by PT Pertamina EP will meet the high demand of gas in South Sumatra (Sumbagsel). In addition, the operation of Paku Gajah is also believed to accelerate the monetization of Pertamina EP assets so that the exploration potential in Pagardewa, Karangdewa, Prabumenang, Tasim, Pemaat, South Kuang, Lavatera, and Piretrium can be produced economically.

Pertamina inaugurated the Paku Gajah Development Project in Pagar Dewa, Muara Enim, South Sumatra. Upstream Director of Pertamina Syamsu Alam said Pertamina is committed to contribute maximally to the country.

"With the full support of all stakeholders, the company's operating activities in searching and producing oil and gas can run smoothly and energy needs in Indonesia are met," Alam said in a press release on Wednesday (6/12).

In working on this project, Pertamina must invest US $ 145.10 million from the initial projection of US $ 147.53 million. Total production capacity of Paku Gajah is 70 million cubic feet of gas per day.

On the same occasion, Head of SKK Migas Amien Sunaryadi added that the Paku Gajah project is important to ensure the supply of gas for domestic needs. With the operation of Paku Gajah is expected to encourage the growth of South Sumatra's economy and create a multiplier effect for the community.

IN INDONESIA

Proyek Paku Gajah Penuhi Kebutuhan Gas Sumbagsel

Proyek pengembangan Paku Gajah atau Paku Gajah Development Project, yang dilaksanakan PT Pertamina EP akan memenuhi kebutuhan gas di Sumatra bagian selatan (Sumbagsel) yang sangat tinggi. Selain itu, pengoperasian Paku Gajah juga diyakini akan mempercepat monetisasi aset Pertamina EP sehingga potensi eksplorasi di struktur Pagardewa, Karangdewa, Prabumenang, Tasim,

Pemaat, Kuang Selatan, Lavatera, dan Piretrium dapat diproduksi secara ekonomis.

Pertamina meresmikan Paku Gajah Development Project di Pagar Dewa, Muara Enim, Sumatra Selatan. Direktur Hulu Pertamina Syamsu Alam mengatakan, Pertamina berkomitmen memberikan kontribusi secara maksimal ke negara. 

“Dengan dukungan penuh seluruh pemangku kepentingan, maka aktivitas operasi perusahaan dalam mencari dan memproduksi migas dapat berjalan lancar dan kebutuhan energi di Indonesia terpenuhi," kata Alam dalam siaran pers, Rabu (6/12).

Dalam mengerjakan proyek ini, Pertamina harus menanamkan investasi mencapai US$ 145,10 juta dari proyeksi awal sebesar US$ 147,53 juta. Total kapasitas produksi Paku Gajah sebesar 70 juta kaki kubik gas per hari.

Dalam kesempatan yang sama, Kepala SKK Migas Amien Sunaryadi menambahkan, proyek Paku Gajah penting untuk menjamin pasokan gas bagi kebutuhan domestik. Dengan beroperasinya Paku Gajah diharapkan akan mendorong tumbuhnya ekonomi Sumatra Selatan dan menciptakan multiplier effect bagi masyarakat.

Kontan, Page-14, Thursday, Dec 7, 2017

IPA: National Oil and Gas Industry Is Still Quite Challenging

Indonesian Petroleum Associaton (IPA) states, the condition of the oil and gas industry in Indonesia throughout 2017 is still quite challenging. Especially with the movement of oil prices began to slightly increase although still relatively low than the last three years. Until the end of 2017, IPA projected oil price movement will not be much experiencing changes. So do not be surprised if oil and gas operations and investment activities continue to change.

"On a global scale, oil and gas companies are also continuing to make changes to their operational activities and investment plans," IPA 2017 President Christina Verchere said at the IPA Annual General Meeting on Wednesday (6/12).

The impact has been seen from exploration activities in Indonesia which can be said to have decreased drastically with the lack of enthusiasts participating in the auction of work areas offered by the government.

"But we have to wait for the results of the work area auction that has been extended until December 31, 2017," said Christina.

IPA also highlights the implementation of the National Energy General Plan Based on the National Energy General Plan document, there are at least two activities to be done to meet future energy needs, namely exploration and enhanced oil recovery (EOR). 

IPA also hopes the Government of Indonesia can make regulations that are able to attract upstream oil and gas investment into the country.

IN INDONESIA

IPA: Industri Migas Nasional Masih Cukup Menantang

Indonesian Petroleum Associaton (IPA) menyebutkan, kondisi industri minyak dan gas bumi (migas) di Indonesia sepanjang tahun 2017 masih cukup menantang. Apalagi dengan pergerakan harga minyak yang mulai sedikit meningkat meski terbilang masih rendah daripada tiga tahun terakhir. 

    Hingga akhir tahun 2017, IPA memproyeksikan pergerakan harga minyak tidak akan banyak mengalami perubahan. Maka tidak heran jika kegiatan operasional dan investasi migas terus berubah. 

"Dalam skala global, perusahaan-perusahaan migas juga terus melakukan perubahan pada kegiatan operasional mereka dan rencana investasi," kata Presiden IPA 2017 Christina Verchere, dalam Rapat Umum Tahunan IPA, Rabu (6/12). 

Dampaknya sudah terlihat dari kegiatan eksplorasi di Indonesia yang dapat dikatakan mengalami penurunan secara drastis dengan minimnya peminat yang berpartisipasi pada lelang wilayah kerja yang ditawarkan pemerintah. 

“Namun kami harus menunggu hasil lelang wilayah kerja yang sudah diperpanjang hingga 31 Desember 2017," ujar Christina.

IPA juga menyoroti implementasi Rencana Umum Energi Nasional Berdasarkan dokumen Rencana Umum Energi Nasional, setidaknya ada dua kegiatan yang harus dilakukan untuk memenuhi kebutuhan energi di masa mendatang, yaitu eksplorasi dan enhanced oil recovery (EOR). 

     IPA pun berharap Pemerintah Indonesia dapat membuat peraturan yang mampu menarik investasi hulu migas masuk ke dalam negeri.

Kontan, Page-14, Thursday, Dec 7, 2017

Paku Gajah Facility Operates

PT Pertamina EP, a subsidiary of PT Pertamina, inaugurated the operation of the Elephant Development Project (PPPG) to meet the high demand for gas in southern Sumatra.

"The operation of PPPG is also to replace the temporary leased gas production facility," said Pertamina EP President Director Nanang Abdul Manaf at the inauguration of PPPG in Muara Enim, South Sumatra, Wednesday (6/12).

Nanang said that the PPPG, managed by Pertamina EP Asset II, consists of two Gas Collecting Station (SPG), SPG Paku Gajah which has a production capacity of 45 million cubic feet per day (MMsCfd) and SPG Kuang with 25 MMscfd capacity.

The company also completed the construction of a major pipeline connecting SPG Paku Gajah to the already built Merbau CO2 Removal SPG. The length of the pipe reaches 23 km. The total investment of the Paku Gajah development project is US $ 145.10 million.

The entire facility will deliver gas to meet the needs of the consumer market of PT Perusahaan Gas Negara Tbk. and other consumers in South Sumatra. Head of SKK Migas Amien Surnaryadi when inaugurated PPPG expressed appreciation for the ability of PT Pertamina EP to reduce the investment cost of the gas facilities so that lower than previously budgeted.

Upstream Director of Pertamina Syamsu Alam said the operation of PPPG as an effort to extend the life of gas reserves to avoid the national gas crisis.

Blue Tiung Field

Meanwhile, PT Rekayasa Industri (Rekind) is doing engineering, procurement and construction (EPC) work on gas processing facilities at Jambaran-Tiung Biru Field (JTB) located in Bojonegoro, East Java.

In an article entitled Rekind Garap of Jambaran-Tiung Biru Gas Facility, Tuesday edition (5/12), in paragraph two it should be written Rekind together with Japan Gas Corporation (JGC) and JGC Indonesia as stated in the EPCC GPF Contract The Blue Tiung Bamboo is officially appointed and is believed to be the main implementer of the EPC project development of the gas processing facility.

The JTB project operated by PT Pertamina EP Cepu will produce 172 MMscfd of ready-to-sell gas. The gas will be shipped through a 11.5 km gas pipeline to PT PLN through a gas pipeline of PT Pertamina Gas.

The project is scheduled to be completed within 36 months, which will also flow through the 267 km-long Gresik-Semarang pipeline with a diameter of 28 inches.

IN INDONESIA

Fasilitas Paku Gajah Beroperasi

PT Pertamina EP, anak usaha PT Pertamina, meresmikan pengoperasian Proyek Pengembangan Paku Gajah (PPPG) untuk memenuhi tingginya kebutuhan gas di Sumatra bagian selatan.

“Pengoperasian PPPG sekaligus untuk menggantikan fasilitas produksi gas sementara yang disewa sebelumnya,” kata Presiden Direktur PT Pertamina EP, Nanang Abdul Manaf saat peresmian PPPG di Muara Enim, Sumatra Selatan, Rabu (6/12).

Nanang mengatakan bahwa PPPG yang dikelola oleh Pertamina EP Asset ll, terdiri atas dua Stasiun Pengumpul Gas (SPG), yaitu SPG Paku Gajah yang memiliki kapasitas produksi 45 juta kaki kubik per hari (MMsCfd) dan SPG Kuang berkapasitas 25 MMscfd.

Perusahaan ini juga menyelesaikan pembangunan jalur pipa utama yang menghubungkan SPG Paku Gajah ke SPG Merbau CO2 Removal yang sudah dibangun. Panjang pipa tersebut mencapai 23 km. Total lnvestasi proyek pengembangan Paku Gajah mencapai US$ 145,10 juta.

Seluruh fasilltas tersebut akan mengalirkan gas untuk memenuhi kebutuhan pasar konsumen PT Perusahaan Gas Negara Tbk. maupun konsumen lainnya di Sumatra Selatan. Kepala SKK Migas Amien Surnaryadi saat meresmikan PPPG menyampaikan apresiasi atas kemampuan PT Pertamina EP menekan biaya investasi fasilitas gas itu sehingga lebih rendah dari yang dianggarkan sebelumnya.

Direktur Hulu Pertamina Syamsu Alam mengatakan, pengoperasian PPPG sebagai upaya memperpanjang umur cadangan gas agar terhindar dari krisis gas nasional.

Lapangan TIUNG BIRU

Sementara itu, PT Rekayasa Industri (Rekind) mengerjakan pekerjaan rekayasa, pengadaan, dan konstruksi (EPC) fasilitas pengolahan gas di Lapangan Jambaran-Tiung Biru (JTB) yang berlokasi di Bojonegoro, Jawa Timur.

Dalam artikel berjudul Rekind Garap Fasilitas Gas Jambaran-Tiung Biru, edisi Selasa (5/12), dalam paragraf dua seharusnya tertulis Rekind bersama dengan Japan Gas Corporation (JGC) dan JGC lndonesia seperti tertera dalam Kontrak EPCC GPF Jambaran Tiung Biru secara resmi ditunjuk dan dipercaya sebagai pelaksana utama pembangunan proyek EPC fasilitas pemrosesan gas itu.

Proyek JTB yang dioperasikan PT Pertamina EP Cepu akan memproduksi gas siap jual sebesar 172 MMscfd, Gas tersebut akan dikirim melewati saluran pipa gas sepanjang 11,5 km kepada PT PLN melalui saluran pipa gas PT Pertamina Gas.

Proyek ini dijadwalkan akan selesai dalam waktu 36 bulan, yang nantinya juga akan mengalir melalui pipa Gresik-Semarang sepanjang 267 km dengan diameter 28 inci.

Bisnis Indonesia, Page-30, Thursday, Dec 7, 2017