PGN Sells Gas Bontang Without Commission

PT Perusahaan Gas Negara Tbk (PGN) said that it did not get any reward for the sale of liquefied natural gas (LNG) part of the country produced by Bontang Refinery which is currently managed by PT Badak NGL, a subsidiary of PT Pertamina. The LNG sold by PGN comes from the Sanga-Sanga Block. Currently, Saka Energi, a subsidiary of PGN owns 26.25% stake in Sanga-Sanga.

The appointment of PGN as an uncommitted state-owned LNG seller will apply to the sales period of 2018. PGN's Corporate Secretary Rachmat Hutama explains that PGN's appointment as the LNG seller of the Sanga-Sanga Block is part of the country as a trust from the government.

He said the government's decision to set the issuer coded PGAS in Indonesia Stock Exchange as the seller of LNG of the state based on the letter of Head of SKK Migas Amien Sunaryadi. Through Letter dated December 4, 2017, SKK Migas appoints PGN as the seller of uncommited LNG Badak volumes with gas source from Sanga-Sanga.

Rachmat said PGN is in charge of carrying out LNG buying and selling with prospective buyers for the period of 2018 subject to the determination of LNG allocations and prices from the Minister of EMR.

"Furthermore, we can start negotiations with prospective buyers by continuing to coordinate with SKK Migas," said Rachmat, Wednesday (13/12).

With this appointment, PGN is responsible for submitting a written approval request on the sales mechanism to be used before marketing. In addition, it prepares and obtains approval of the sale and purchase agreement, to report the proceeds of sale each time the payment.

As an LNG seller, PGN is also required to bear all costs incurred first. Referring to the Letter, the fees and responsibilities will be treated as operating expenses. As a Bontang LNG seller, PGN will not be rewarded.

"We are optimistic with professional, transparent and accountable management, PGN can contribute more to the country," he said.

The Badak NGL LNG refinery processes gas supplies from several oil and gas projects, namely Mahakam Block, Bangka Field, Jangkrik Field, and Sanga-Sanga Block. This year, LNG production amounted to 7.84 million tons with shipments of 10.44 cargo standards.

IN INDONESIA

PGN Menjual Gas Bontang Tanpa Komisi

PT Perusahaan Gas Negara Tbk (PGN) menyatakan tidak mendapatkan imbalan atas penjualan gas alam cair (LNG) bagian negara yang diproduksi Kilang Bontang yang saat ini masih dikelola PT Badak NGL, anak usaha PT Pertamina. LNG yang dijual PGN itu berasal dari Blok Sanga-Sanga. Saat ini, Saka Energi, anak usaha PGN memiliki 26,25% saham di Sanga-Sanga.

Penunjukan PGN sebagai penjual LNG bagian negara yang belum terkontrak (uncommited) ini akan berlaku untuk periode penjualan tahun 2018. Sekretaris Perusahaan PGN, Rachmat Hutama menjelaskan, penunjukan PGN sebagai penjual LNG Blok Sanga-Sanga bagian negara ini sebagai sebuah kepercayaan dari pemerintah.

Dia bilang, keputusan pemerintah menetapkan emiten berkode PGAS di Bursa Efek Indonesia ini sebagai penjual LNG bagian negara berdasarkan surat Kepala SKK Migas Amien Sunaryadi. Lewat Surat tertanggal 4 Desember 2017, SKK Migas menunjuk PGN sebagai penjual uncommited volume LNG Badak dengan sumber gas dari Sanga-Sanga.

Rachmat menyatakan, PGN bertugas melaksanakan jual beli LNG dengan para calon pembeli untuk periode 2018 dengan tetap tunduk pada penetapan alokasi dan harga LNG dari Menteri ESDM. 

"Selanjutnya kami bisa memulai perundingan dengan calon pembeli dengan terus berkoordinasi dengan SKK Migas," ujar Rachmat, Rabu (13/12).

Dengan penunjukkan ini, PGN bertanggungjawab menyampaikan permohonan persetujuan secara tertulis mengenai mekanisme penjualan yang akan digunakan sebelum memasarkan. Selain itu, pihaknya menyiapkan dan memperoleh persetujuan atas perjanjian jual beli, hingga melaporkan hasil penjualan setiap kali pembayaran.

Sebagai penjual LNG, PGN juga wajib menanggung seluruh biaya yang timbul terlebih dulu. Merujuk Surat tersebut, mengenai biaya dan tanggung jawab akan diperlakukan sebagai biaya operasi. Sebagai penjual LNG Bontang, PGN tidak akan memperoleh imbalan. 

"Kami optimistis dengan pengelolaan secara profesional, transparan dan akuntabel, PGN dapat memberikan kontribusi lebih kepada negara," katanya.

Kilang LNG yang dikelola Badak NGL mengolah pasokan gas dari beberapa proyek migas, yakni Blok Mahakam, Lapangan Bangka, Lapangan Jangkrik, dan Blok Sanga-Sanga. Tahun ini, produksi LNG sebesar 7,84 juta ton dengan pengapalan sebanyak 10,44 standar kargo.

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

Upstream Investment of Oil and Gas Missile

Decrease Greater than Projection

The realization of upstream oil and gas investment this year is estimated to miss the target of USD 12 billion. Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) estimates that upstream oil and gas investment realization will only reach USD 10.5-11 billion.

Head of Program and Communications Division SKK Migas Wisnu Prabawa Taher stated, in the last two years upstream oil and gas investment in Indonesia fell due to low world oil prices.

"This decline is not only happening in Indonesia, but also occurs globally," he said.

The improving world oil price is expected to stimulate upstream oil and gas investment next year. Until the end of November, the realization of upstream oil and gas investment only reached USD 8-9 billion.

SKK Migas records the production of several exploration blocks that are still below target. Upstream oil and gas investment that continues to fall also affects the slashing target of lifting or production of ready-to-sell oil and gas this year. SKK Migas estimates that the oil lifting this year will only reach 99 percent of the target in the 2017 APBNP. That is, 815 thousand barrels per day.

"Some of the field experienced a decline in production greater than we expected, ie 10-15 percent. But, as it turns out, the rate of decline in production can be above that. Namely, reaching 20-25 percent, "he explained.

Meanwhile, next year SKK Migas estimates upstream oil and gas investment to reach USD 12 billion. The figure is still following the world oil price assumption of USD 48 per barrel. That is in accordance with the State Budget Expenditure Plan (RAPBN) 2018.

"The majority of investment comes from production and because we have to maintain production because the existing field is continuously aging," he explained Vishnu. Some onstream oil and gas projects in 2018 are expected to contribute positively to oil and gas lifting.

Among these, Field Working Area Parit (WK) Kisaran, Field Tutung (WK Bontang). Kedung Keris Field (WK Cepu), Papa Field (WK ONWJ), and Block A Square (WK A). Not only that, some fields also enter peak production next year to support oil and gas lifting target in 2018. Fields entering the peak production period next year, among others, BD Field (WK Madura Strait) with a production contribution of 5800 barrels of oil per day and gas 100 mmscfd.

IN INDONESIA

Investasi Hulu Migas Meleset

Penurunan Lebih Besar daripada Proyeksi

Realisasi investasi hulu minyak dan gas tahun ini diperkirakan meleset dari target USD 12 miliar. Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) memperkirakan realisasi investasi hulu migas hanya mencapai USD 10,5-11 miliar.

Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher menyatakan, dalam dua tahun terakhir investasi hulu migas di Indonesia turun karena rendahnya harga minyak dunia.

"Penurunan ini tidak hanya terjadi di Indonesia, tetapi juga terjadi secara global," ujarnya.

Membaiknya harga minyak dunia diharapkan bisa menggairahkan investasi hulu migas tahun depan. Hingga akhir November, realisasi investasi hulu migas hanya mencapai USD 8-9 miliar.

SKK Migas mencatat hasil produksi beberapa blok eksplorasi yang masih di bawah target. Investasi hulu migas yang terus turun juga berdampak terhadap melesetnya target lifting atau produksi siap jual migas tahun ini. 

       SKK Migas memperkirakan realisasi liftng minyak tahun ini hanya mencapai 99 persen dari target dalam Anggaran Pendapatan Belanja Negara Perubahan (APBNP) 2017. Yakni, 815 ribu barel per hari.

”Beberapa lapangan mengalami laju penurunan produksi lebih besar daripada yang kami harapkan, yakni 10-15 persen. Tetapi, ternyata, laju penurunan produksinya bisa berada di atas itu. Yakni, mencapai 20-25 persen,” terangnya. 

Sementara itu, tahun depan SKK Migas memperkirakan investasi hulu migas mencapai USD 12 miliar. Angka tersebut masih mengikuti asumsi harga minyak dunia sebesar USD 48 per barel. Itu sesuai dengan Rencana Anggaran Pendapatan Belanja Negara (RAPBN) 2018. 

"Mayoritas investasi berasal dan produksi. Sebab, kita harus menjaga produksi karena lapangan yang ada saat ini terus menua," jelas Wisnu. Beberapa proyek migas yang onstream pada 2018 diharapkan mampu berkontribusi positif terhadap lifting minyak dan gas.

Di antaranya, Lapangan Parit Wilayah Kerja (WK) Kisaran, Lapangan Tutung (WK Bontang). Lapangan Kedung Keris (WK Cepu), Lapangan Papa (WK ONWJ), dan Lapangan Blok A (WK A). 

      Bukan hanya itu, beberapa lapangan juga memasuki produksi puncak tahun depan untuk menunjang target lifting migas pada 2018. Lapangan yang memasuki masa produksi puncak pada tahun depan, antara lain, Lapangan BD (WK Madura Strait) dengan kontribusi produksi 5.800 barel minyak per hari dan gas 100 mmscfd.

Jawa Pos, Page-5, Thursday, Dec 14, 2017

Joint Venture Established 2019

Revitalization of Cilacap Refinery

The establishment of a joint venture between PT Pertamina and Saudi Aramco in the revitalization project of Cilacap Refinery was postponed to 2019 from the initial target this year.

It is with consideration Pertamina technical terms and financial condition. Based on initial target, revitalization. The Cilacap refinery was completed in 2021, but later revised to 2023.

Pertamina Director of Pertamina Processing and Petrochemical Processing, Ardhy Mokobombang, said that the establishment of the joint venture will be done after the implementation of the front end engineering design (FEED). According to him, FEED work will last for 1.5 years.

He said that the formation of a joint venture can be done after the work of FEED. It is set in revision Joint venture agreement / JVA agreement.

"Estimates, the end of 2019 is over. Make his study only 1.5 years, "he said while attending Pertamina Energy Forum 2017, Wednesday (13/12).

Meanwhile, related to the existing assets in the Cilacap Refinery, it will discuss with Aramco for the asset to be part of the joint venture. In the joint venture, Pertamina controls 55% stake and Aramco 45%. He hopes that asset transfers and certainty about fiscal incentives in the form of tax exemptions will be known by 2018.

The revitalization of the US $ 4.5 billion refinery will boost capacity to 370,000 barrels per day (bpd) from the current 270,000 bpd. Pertamina's Finance Director Arief Budiman said that the refinery's completion target refers to the company's debt ratio to pre-tax revenues, interest, depreciation and amortization (EBITDA). Pertamina's debt ratio limit is 3.5% of EBITDA.

Arief explained that the debt ratio limit is suited if the company forces itself to build an oil refinery in accordance with the initial target. In fact, Pertamina as a still growing company needs to keep its debt to EBITDA ratio under 3%.

From material presentation of company performance in quarter IV / 2016, Balikpapan Refinery phase 1 is targeted to be completed by 2019. Revitalization of Balongan Refinery and Balikpapan phase 2 is completed by 2020.

Meanwhile, the additional capacity of Cilacap and Tuban refineries is targeted to be completed by 2021. The completion target of Bontang and Dumai refinery revitalization in 2023 and 2024 respectively.

However, from the most recent exposure material, there are different targets. The Balikpapan refinery phase 1 is targeted to be completed by 2020 and phase 2 is completed by 2021. The target of completion of the revitalization of the Cilacap Refinery retreats to 2023 and the Bontang Refinery becomes 2024.

IN INDONESIA

Perusahaan Patungan Dibentuk 2019

Pembentukan perusahaan patungan antara PT Pertamina dan Saudi Aramco dalam proyek revitalisasi Kilang Cilacap diundur ke 2019 dari target awal pada tahun ini.

Hal itu dengan pertimbangan hal teknis dan kondisi keuangan Pertamina. Berdasarkan target awal, revitalisasi. Kilang Cilacap selesai pada 2021, tetapi kemudian direvisi menjadi 2023.

Direktur Megaproyek Pengolahan dan Petrokimia Pertamina Ardhy Mokobombang mengatakan bahwa pembentukan perusahaan patungan akan dilakukan setelah pengerjaan paket pendefinisian proyek (front end engineering design/FEED). Menurutnya, pengerjaan FEED akan berlangsung selama 1.5 tahun.

Dia menuturkan bahwa pembentukan perusahaan patungan bisa dilakukan setelah pengerjaan FEED. Hal itu diatur dalam revisi kesepakatan Joint venture agreement/JVA.

“Perkiraan, akhir 2019 sudah selesai. Membuat studinya saja 1,5 tahun,” ujarnya saat menghadiri Pertamina Energy Forum 2017, Rabu (13/12).

Sementara itu, terkait dengan aset yang ada di Kilang Cilacap, pihaknya akan berdiskusi dengan Aramco agar aset itu menjadi bagian dari perusahaan patungan. Dalam perusahaan patungan itu, Pertamina menguasai saham 55% dan Aramco 45%. Dia berharap agar transfer aset dan kepastian tentang insentif fiskal berupa pembebasan pajak sudah bisa diketahui pada 2018.

Revitalisasi kilang minyak dengan nilai US$ 4,5 miliar itu akan menaikkan kapasitas menjadi 370.000 barel per hari (bph) dari saat ini 270.000 bph. Direktur Keuangan Pertamina Arief Budiman mengatakan bahwa target penyelesaian kilang merujuk pada rasio utang perseroan terhadap pendapatan sebelum pajak, bunga, depresiasi, dan amortisasi (EBITDA). Batas rasio utang Pertamina sebesar 3.5% dari EBITDA.

Arief menjelaskan bahwa batas rasio utang itu suIit tercapai jika perseroan memaksakan diri membangun kilang minyak sesuai dengan target awal. Padahal, Pertamina sebagai perusahaan yang masih terus berkembang perlu menjaga rasio utang terhadap EBITDA tetap di bawah 3 %.

Dari materi paparan kinerja perseroan kuartal IV/2016, Kilang Balikpapan tahap 1 ditargetkan selesai pada 2019. Revitalisasi Kilang Balongan dan Balikpapan tahap 2 selesai pada 2020.

Sementara itu, penambahan kapasitas Kilang Cilacap dan Kilang Tuban ditargetkan selesai pada 2021. Target penyelesaian revitalisasi Kilang Bontang dan Dumai masing-masing pada 2023 dan 2024.

Namun, dari materi paparan yang terbaru, terdapat perbedaan target. Kilang Balikpapan tahap 1 ditargetkan selesai pada 2020 dan tahap 2 selesai pada 2021. Target penyelesaian revitalisasi Kilang Cilacap mundur ke 2023 dan Kilang Bontang menjadi 2024.

Bisnis Indonesia, Page-30, Thursday, Dec 14, 2017

SKK Migas Give Hope

Treasures of Petroselat bankruptcy

The hope of Petroselat's creditors to get the payments from the bankrupt company is again rising along with the permit from SKK Migas related to the sunk cost fund.

Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) said that Petroselat creditors' receivables can be paid by new operators in the Strait Work Area of ​​Riau.

The new operator will pay the investment cost invested by Petroselat as the old operator. Thus, the embedded cost or sunk cost can be used by Petroselat to pay the obligations to the creditor.

Secretary of SKK Migas Arief Setiawan Handoko confirmed that Petroselat as an old operator has a cost embedded in the Strait Long Work Area. If the carrier's service is terminated or terminated by the government, sunk cost will switch to another operator.

"That sunk cost is the responsibility of the work area if there is an operator terminated by the government," he said Wednesday (13/12).

Later, the new operator in the working area can take production to pay for sunk cost that can be used to pay off the obligation of Petroselat as the old operator.

Petroselat creditors consist of 47 vendors with total bill of Rp 117.65 billion. However, SKK Migas reminded that to get funds from sunk cost needed time, can not be quick. The new operator is considered not able to pay sunk cost early in the operation.

At the very least, operators must operate in advance to generate revenue or revenue. The revenue is prioritized for cost recovery in the current year. Not to mention, the operator of the working area also deposits income to the government. After that the rest to pay the sunk cost to Petroselat.

"The new operator does not want to have to bear first in the beginning. That's too much. So wait to generate revenue first, "he said.

Before the work area is assigned to a new operator, there is a bussines to bussines agreement between the old and new operators. Usually there is set about sunk cost. Representatives of creditor Hendra Setiawan Boen said the sunk cost is another option in charging the debt to Petroselat.

"Good for you. Even with the important installments we get payments rather than none, "he said.

According to Hendra, the demand for sunk cost is in accordance with Article 6 juncto Article 8 paragraph (1) of Regulation of Minister of Energy and Mineral Resources no. 47 Year 2017 on Amendment to Regulation of the Minister of Energy and Mineral Resources No. 26 Year 2017 on Mekanisine Investment Costs in Upstream Oil and Gas Business Activities.

The Article regulates in the event that oil and gas cooperation contracts are not renewed, the new contractor shall settle the value of the investment cost refund.

Furthermore, he quoted Article 8 paragraph 2 of the same regulation also stipulated that the later obligation to settle the investment cost return value will be included in the letter of stipulation of management of new working area and new cooperation contract.

The creditor also does not question the termination of the project petroselat molor. Most importantly, creditors get certainty. In addition to sunk cost, creditors ask the curator to comb Petroselat assets to improve the bankruptcy budel.

Efforts in question is to collect the debt of PT PLN to Petroselat for US $ 500,000. The details are US $ 100,000 is part of the country while the rest can be paid to the creditor.

Furthermore, the receiver can collect cash call debts from PT Sugih Energy Tbk. worth US $ 7 million and Petrochina Selat Panjang Ltd. for US $ 180,000.

TERMINATION

Meanwhile, related to the termination of Petroselat Ltd to the Long Strait working area, SKK Migas has rescheduled to January next year. The reason is that SKK Migas still conducts intensive discovery with the curator and has not submitted the termination recommendation report to the Ministry of Energy and Mineral Resources (ESDM). The meeting between SKK Migas and the curator was held on Tuesday (12/11).

"The terminations are still waiting for the process of calculating the obligations of Petroselat against creditors," he said.

According to him, the process is still rolling out and is targeted to be completed by the end of December. Given December the work time is short and there is a Christmas holiday, then termination will be done in January.

The party that will renegotiate is the government, in this case the Ministry of ESDM. However, termination was made on the recommendation of SKK Migas.

Arief explained that his side has also received a letter of willingness from several oil and gas operators to take over the work area of ​​Strait Panjang, Riau. No doubt, the work area is potentially good to work on.

Nevertheless, SKK Migas does not want to be haphazard to appoint a new operator, its Authority will conduct due diligence related to oil and gas, competency test, capital test and finance test or financing.

"We want it as soon as possible but we do not want this petroselat happen again. So really filtered the best, "he said.

Previously, termination will be made on December 4 if Petroselat Ltd fails to reach an agreement to repay its receivables with its creditors.

IN INDONESIA

SKK Migas Beri Harapan

Harapan para kreditur Petroselat untuk mendapatkan pembayaran dari perusahaan yang telah pailit itu kembali naik seiring dengan ijin dari SKK Migas terkait dengan dana sunk cost.

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) menyatakan piutang kreditur Petroselat dapat dibayar oleh operator baru di Wilayah Kerja Selat Panjang, Riau.

Operator baru itu akan membayar biaya investasi yang ditanamkan oleh Petroselat selaku operator lama. Dengan demikian, biaya tertanam atau sunk cost dapat digunakan oleh Petroselat untuk membayar kewajiban ke kreditur.

Sekretaris SKK Migas Arief Setiawan Handoko membenarkan bahwa Petroselat sebagai operator lama memiliki biaya tertanam di Wilayah kerja Selat Panjang. Apabila masa kerja operator sudah berakhir atau diterminasi pemerintah, sunk cost akan beralih ke operator lain.

“Itu sunk cost menjadi tanggungjawab wilayah kerja jika ada operator yang diterminasi oleh pemerintah," katanya Rabu (13/12).

Nantinya, operator baru dalam wilayah kerja tersebut bisa mengambil hasil produksi untuk membayar sunk cost yang dapat dipakai untuk melunasi kewajiban Petroselat selaku operator lama.

Kreditur Petroselat terdiri dari 47 vendor dengan total tagihan Rp 117,65 miliar. Akan tetapi, SKK Migas mengingatkan bahwa untuk mendapatkan dana dari sunk cost diperlukan waktu, tidak bisa cepat. Operator baru dinilai belum bisa membayar sunk cost di awal masa operasi. 

Setidaknya, operator harus beroperasi terlebih dahulu untuk menghasilkan revenue atau pendapatan. Pendapatan tersebut diprioritaskan untuk biaya pemulihan (cost recovery) di tahun berjalan. Belum lagi, operator wilayah kerja juga menyetorkan pendapatan ke pemerintah. Setelah itu sisanya untuk mengangsur sunk cost ke Petroselat.

“Operator baru tidak mau kalau harus menanggung dulu di awal. ltu terlalu berat. Jadi menunggu menghasilkan revenue dulu,” tuturnya.

Sebelum wilayah kerja dilimpahkan ke operator baru, terdapat perjanjian bussines to bussines antara operator lama dan baru. Biasanya di situ diatur mengenai sunk cost. Perwakilan kreditur Hendra Setiawan Boen mengatakan sunk cost tersebut merupakan opsi lain dalam menagih utang kepada Petroselat.

“Bagus kalau begini. Meski dengan dicicil yang penting kami mendapat pembayaran daripada tidak sama sekali,” katanya.

Menurut Hendra, permintaan terhadap sunk cost itu sesuai dengan Pasal 6 juncto Pasal 8 ayat (1) Peraturan Menteri ESDM No. 47 Tahun 2017 tentang Perubahan atas Peraturan Menteri ESDM No. 26 Tahun 2017 tentang Mekanisine Biaya Investasi Pada Kegiatan Usaha Hulu Minyak dan Gas Bumi.

Pasal itu mengatur dalam hal kontrak kerja sama migas tidak diperpanjang, maka kontraktor baru wajib melakukan penyelesaian atas nilai pengembalian biaya investasi.

Selanjutnya, dia mengutip Pasal 8 ayat 2 peraturan yang sama juga diatur bahwa nantinya kewajiban menyelesaikan nilai pengembalian biaya investasi akan dicantumkan dalam surat penetapan pengelolaan wilayah kerja baru dan kontrak kerja sama baru.

Kreditur juga tidak mempermasalahkan terminasi proyek Petroselat molor. Hal yang terpenting, kreditur mendapatkan kepastian. Selain sunk cost, kreditur meminta kurator untuk menyisir aset Petroselat untuk meningkatkan budel pailit.

Upaya yang dimaksud yakni menagih utang PT PLN kepada Petroselat sebesar US$ 500.000. Rinciannya US$ 100.000 adalah bagian negara sedangkan sisanya dapat dibayarkan kepada kreditur.

Selanjutnya, kurator dapat menagih utang cash call dari PT Sugih Energy Tbk. senilai US$ 7 juta dan Petrochina Selat Panjang Ltd. sebesar US$ 180.000.

TERMINASI

Sementara itu, terkait terminasi Petroselat Ltd terhadap wilayah kerja Selat Panjang, SKK Migas memundurkan waktunya menjadi Januari tahun depan. Sebabnya, SKK Migas masih melakukan penemuan intensif dengan kurator dan belum menyerahkan laporan rekomendasi terminasi kepada Kementerian Energi dan Sumber Daya Mineral (ESDM). Pertemuan antara SKK Migas dengan kurator digelar pada Selasa (12/11). 

“Terminasi masih menunggu proses hitung-hitungan kewajiban Petroselat terhadap kreditur,” katanya.

Menurut dia, proses ini masih bergulir dan ditargetkan selesai akhir Desember. Mengingat Desember waktu kerjanya singkat dan ada hari libur Natal, maka terminasi akan dilakukan Januari.

Pihak yang akan menterminasi adalah pemerintah, dalam hal ini Kementerian ESDM. Namun, terminasi dilakukan atas rekomendasi SKK Migas.

Arief menjelaskan pihaknya juga telah menerima surat kesediaan dari beberapa operator minyak dan gas untuk mengambil alih wilayah kerja Selat Panjang, Riau. Tidak dipungkiri, wilayah kerja tersebut berpotensi bagus untuk digarap.

Meski demikian, SKK Migas tidak ingin gegabah menunjuk operator baru, Otoritasnya akan melakukan uji kelayakan (due dilligence) terkait minyak dan gas, uji kompetensi, uji permodalan dan uji finance atau pembiayaan. 

“Kami inginnya sesegera mungkin tapi kami tidak ingin kejadian Petroselat ini terulang kembali. Jadi benar-benar disaring yang terbaik,” ungkapnya.

Sebelumnya, terminasi akan dilakukan pada 4 Desember apabila Petroselat Ltd tidak mencapai kesepakatan pembayaran ulang piutang dengan para kreditur.

Bisnis Indonesia, Page-11, Thursday, Dec 14, 2017

DPR Asks Holding of Oil and Gas State-Owned Enterprises in Defaults

The House of Representatives (DPR) asked the government not to rush to realize the formation of holding company (BUMN) of Oil and Gas. This is because the House is currently planning the establishment of a Special Business Entity (BUK) of Oil and Gas.

The plan for the establishment of BUK Migas has been included in the revised draft of Oil and Gas Law no. 22 of 2001 and has been submitted to the Legislation Body (Baleg) to be resolved.

"The concept of BUK Migas is more perfect than oil and gas holding," said Vice Chairman of Commission VII DPR Satya W Yudha.

Satya W Yudha.

He said that BUK Migas will become an integration site in which PT PGN Tbk, PT Pertamina, Special Unit for Upstream Oil and Gas Implementation (SKK Migas), and Downstream Oil and Gas Regulatory Agency (BPH Migas). In BUK, Satya makes sure that everything will continue to carry out their respective duties as they are now.

"Only, they are integrated in their service under that special business entity," he said.

Previously, Minister of SOEs Rini Soemamo said that Holding BUMN Migas will soon be formed. Holding of oil and gas BUMN is targeted to be realized in the first quarter of 2018.

     Before Holding SOEs of Oil and Gas, Ministry of State Owned Enterprises has formed Holding Fertilizer Industrial BUMN, Holding SOEs Cement Industry and Holding State-Owned Mining Industry. According to Rini, the establishment of oil and gas holding is done to improve the competitiveness of SOEs in order to face the challenges in the oil and gas sector in the future.

IN INDONESIA

DPR Minta Holding BUMN Migas di Tunda

Kalangan Dewan Perwakilan Rakyat (DPR) meminta pemerintah tidak terburu-buru merealisasikan pembentukan perusahaan induk (holding) BUMN Migas. Hal itu karena saat ini DPR sedang merencanakan pembentukan Badan Usaha Khusus (BUK) Migas.

Rencana pembentukan BUK Migas tersebut sudah dimasukkan dalam draf revisi Undang-Undang Minyak dan Gas Bumi (Migas) No. 22 tahun 2001 dan sudah diserahkan kepada Badan Legislasi (Baleg) untuk diselesaikan.

"Konsep BUK Migas itu lebih sempurna daripada holding migas. Kalau holding migas sama saja dengan holding tambang itu. Kalau kita lebih mengintagrasikan,” kata Wakil Ketua Komisi VII DPR Satya W Yudha.

Dia mengatakan, BUK Migas nantinya menjadi tempat integrasi yang di dalamnya terdapat PT PGN Tbk, PT Pertamina, Satuan Kerja Khusus Pelaksana Kegiatan Hulu Migas (SKK Migas), dan Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas). Dalam BUK, Satya memastikan jika semuanya akan tetap menjalankan tugasnya masing-masing seperti yang ada sekarang. 

”Hanya, mereka diintegrasikan dalam pelayanannya di bawah badan usaha khusus itu," ujarnya.

Sebelumnya, Menteri BUMN Rini Soemamo mengatakan bahwa Holding BUMN Migas akan segera dibentuk. Holding BUMN Migas ditargetkan sudah terwujud pada triwulan I/2018.

Sebelum Holding BUMN Migas, Kementerian BUMN telah membentuk Holding BUMN Industri Pupuk, Holding BUMN Industri Semen dan Holding BUMN Industri Pertambangan. Menurut Rini, pembentukan holding migas dilakukan untuk meningkatkan daya saing BUMN dalam rangka menghadapi tantangan di sektor migas ke depan.

Koran Sindo, Page-19, Wednesday, Dec 13, 2017

Saka Energi Record Production 53,000 BOPD

PT Saka Energi Indonesia, a subsidiary of PT Perusahaan Gas Negara (PGN), recorded an increase in production this year by 53,000 barrels of oil per day (barels of oil per day / BOPD).

The increase in production is supported by the production contribution from Block Pangkah as the operator block off the east coast of Java Sea and non-operator block, among others, Muara Bakau Block (Jangkrik Field), Bangkanai Block (Central Kalimantan) Ketapang Block in the Java Sea.

Chief Executive Officer (CEO) of Saka Energi Indonesia Tumbur Parlindungan said, next year it is ready to spend USD 150 million to add new investment through the drilling of development wells and exploration wells.

"In 2018 we will drill seven wells consisting of 4 development wells and 3 exploration wells located in Pangkah Block, South Sesulit Block, and Woman II Block," he said.

Saka Energi will spend USD 10 million to USD 15 million per well. If totaled at planned wells, total investment reaches a total of US $ 150 million.

"Drilling per well is about USD 10 million to USD 15 million, there is another development of about USD 150 million," he said.

The largest investment is spent in Block Pangkah, where Saka Energy becomes the blocked operator.

"We drilled almost 60% as operators on the block. This block has the most expensive production costs or reach USD 8 to USD 9 dollars per barrel, "he said.

Tumbur also added, starting next year as part of the digital transformation, Saka Energy will implement the data security system. Use of the system is expected to avoid the threat of cyber attacks.

"With the use of this system, we expect increased productivity can also occur where all information from the work is placed on a systematic system and can be easily accessed through the application so that the decision-making can be done efficiently," he concluded.

As a subsidiary of PT PGN, Saka Energi focuses more on the exploration and production of upstream oil and gas. Currently PT Saka Energi manages the participating interest in 10 blocks in Indonesia, including 1 block of shale gas in Indonesia. Three of them are managed by Saka as an operator with 100% parcitipating interest in Pangkas Block, Sout Sesuku and Wokam II-Papua Block.

IN INDONESIA

Saka Energi Catat Produksi 53.000 BOPD

Anak usaha PT Perusahaan Gas Negara (PGN), PT Saka Energi Indonesia mencatat peningkatan produksi tahun ini sebesar 53.000 barrel minyak per hari (barels of oil per day/BOPD).

Peningkatan produksi tersebut didukung oleh sumbangan hasil produksi dari Blok Pangkah sebagai blok operator di lepas pantai bagian timur Laut Jawa serta blok-blok bukan operator (non-operator), di antaranya Blok Muara Bakau (Lapangan Jangkrik), Blok Bangkanai (Kalimantan Tengah), Blok Ketapang di Laut Jawa.

Chief EXecutive Officer (CEO) Saka Energi Indonesia Tumbur Parlindungan mengatakan, tahun depan pihaknya siap mengeluarkan dana sebesar USD 150 juta untuk menambah investasi baru melalui pengeboran sumur pengembangan maupun sumur eksplorasi.

”Pada 2018 kami akan melakukan pengeboran pada tujuh sumur terdiri atas 4 sumur pengembangan dan 3 sumur eksplorasi yang berada di Blok Pangkah, Blok South Sesulit, serta Blok Woman II,”katanya. 

Saka Energi akan mangeluarkan dana USD 10 juta hingga USD 15 juta per sumur. Jika ditotal di sumur yang direncanakan, total investasi mencapai total US$ 150 juta.

"Drilling per well itu sekitar USD 10 juta hingga USD 15 juta. Ada lagi pengembangannya sekitar USD 150 jutaan,” ujarnya.

lnvestasi paling besar dikeluarkan di Blok Pangkah, di mana Saka Energi menjadi operator diblok tersebut.

”Kami mengebornya hampir 60% sebagai operator di blok itu. Blok ini memiliki biaya produksi paling mahal atau mencapai USD 8 sampai USD 9 dolar per barel,”ungkapnya.

Tumbur juga menambahkan, mulai tahun depan sebagai bagian dari transformasi digital, Saka Energi akan menerapkan penggunasan sistem sekuriti data. Penggunaan sistem tersebut diharapkan mampu menghindari adanya ancaman serangan siber.

”Dengan penggunaan sistem ini, kami berharap peningkatan produktivitas juga bisa terjadi di mana seluruh informasi dari pekerjaan ditempatkan pada sistem sistematis dan bisa mudah diakses melalui aplikasi sehingga pembuatan keputusan bisa terlaksana dengan efisien,” pungkasnya.

Sebagai anak usaha PT PGN, Saka Energi lebih fokus pada eksplorasi dan produksi hulu minyak dan gas bumi. Saat ini PT Saka Energi mengelola participating interest pada 10  blok di Indonesia, termasuk 1 blok shale gas di Indonesia. Tiga diantaranya dikelola Saka sebagai operator dengan kepemilikan 100% parcitipating interesting di Blok Pangkas, Sout Sesuku dan Blok Wokam ll- Papua.

Koran Sindo, Page-19, Wednesday, Dec 13, 2017

Saka Energi to spend much on Pangkah Block

Oil and gas producer Saka Energi Indonesia (SEI), the upstream arm of state-owned gas distributor Perusahaan Gas Negara (PGN), has allocated US$ 150 million in capital expenditure (capex) next year.

SEl president director Tumbur Parlindungan said his company would use 60 percent of the capex budget to manage Pangkah Block in East Java. 

"We are investing the majority of our capex in Pangkah because it‘s an operated block,” he said during a media briefing in jakarta on Tuesday. He said SEI planned to drill seven wells in 2018 tour development wells and one exploration well in Pangkah, one exploration well in South Sesulu Block in East Kalimantan and one exploration well in Wokam ll in Papua.

Tumbur said his company's production was expected to grow between 5 and 10 percent next year from 53,000 barrels of oil equivalent per day (boepd) ot 2017's total production. According to an unaudited report, SEI booked $316 million in revenue this year, or 34 percent growth from $209 million last year.

Jakarta Post, Page-14, Wednesday, Dec 13, 2017

2018, Exxon Mobil Working Kedung Keris Field

Exxon Mobil Cepu Limited (EMCL) will start work on Kedung Keris Field which entered Cepu Block area next year. The field is expected to produce oil of 10 thousand barrels per day (BPD).

Exxon Mobil Cepu Limited (EMCL) Field in Bojonegoro East Java

Vice President of Public and Government Affairs of Exxon Mobil Indonesia Erwin Maryoto said it had drilled a well in Kedung Keris Square, and there are no plans to add wells. Thus, it only builds the facilities needed to deliver this field oil production to a processing facility at Banyu Urip Field, Cepu Block.

"We are construction next year, construction of facilities including pipe and Wellpad," he said on the sidelines of Pertamina Energy Forum in Jakarta on Tuesday (12/12).

He said oil production from Kedung Keris Field would increase the production of Cepu Block as a whole. Currently, the block production is recorded at more than 200 thousand BPD. It will strive for the production amount to survive until 2019. At that time, Field Kedung Keris targeted has begun to produce oil.

"We hope later Kedung Keris add Banyu Urip production to be more than 210 thousand BPD, there is an addition of Kedung Keris 10 thousand BPD," said Erwin.

He had mentioned the investment project Kedung Keris is not too big, which is only about the US $ 100 million. However, he declared that Cepu Block production could not reach 300 thousand BPD using the existing facilities. The production target of 300,000 BPD as the Minister of Energy and Mineral Resources (MEMR) Jonant demands, can only be achieved if there are additional facilities.

"That (production 300 thousand BPD) should add facilities of all sorts, the investment will be even bigger," he said. Although, the oil reserves of Cepu Block have been larger than those mentioned in the plan of development (POD), which is 709 billion barrels.

Including Kedung Keris, there are two fields in Cepu Block that have produced oil, the other is Banyu Urip. There are currently 45 wells producing from three wells in Banyu Urip Field, Cepu Block. 

    In addition, the block also features a central processing facility, off-shore and offshore pipelines of 95 kilometers (km), as well as one tanker storage and loading and ship loading and unloading facilities in the Java Sea.

The Banyu Urip field is expected to generate 450 million barrels of oil during the project's operational life. In the last few decades, Banyu Urip Field is the largest oil project in Indonesia. 

    Currently, the composition of shares in Cepu Block is ExxonMobil Cepu Limited as the operator owns 45% shares, PT Pertamina EP Cepu 45%, and four Regional Owned Enterprises 10% The four BUMDs are PT Blora Patragas Hulu, PT Petrogas Jatim Utama Cendana, PT Asri Darma Sejahtera, and PT Sarana Patra Hulu Cepu.

Investor Daily, Page-9, Wednesday, Dec 13, 2017

Oil and Gas Saka Production Increases

PT Saka Energi Indonesia recorded production in the third quarter of 2017 of 53,168 barrels of oil equivalent per day (BOEPD). The realization was higher than the previous period in 2016 which reached 35,047 BOEPD. The total production in the third quarter consists of 73% of oil production and 27% of gas production.

"The proud thing that PGN Saka has achieved in 2017 is to achieve the production targets, simplify and make the operation process more efficient and although many activities are being done, we are still able to maintain the safety standards," said President Director Saka Energi Tumbur Parlindungan in a media gathering in Jakarta on Tuesday (12/12).

Tumbur reveals several factors that influence the success of the donation of production from block Pangkah as the operator block off the east coast of Java Sea and non-operated blocks such as Muara Bakau block with Jangkriknya Field, Bangkanai block in Central Kalimantan and Ketapang blocks in Java sea, Sanga-Sanga block in East Kalimantan, Southeast Sumatra block in Java Sea at southern end of Sumatera and Fasken block in South Texas, USA.

"Productivity is supported by a stable global situation with world oil prices ranging from US $ 50-60 / barrel," he said.

The subsidiary of PT Perusahaan Gas Negara Tbk also recorded significant revenue. Tumbur explained the revenue achievement in the third quarter of US $ 317 million. The realization is greater than last year amounted to US $ 209 million. The biggest contribution of these achievements came from the Pangkah block of US $ 133 million or 42% of total revenue.

Then the second by Ketapang block of US $ 47 million or 15%. While EBITDA also recorded an increase compared to last year that is US $ 192 million from US $ 133 million in 2016.

Furthermore, Tumbur hopes to maintain oil and gas production volume from blocks already operating next year. PGN Saka has drilling program plans in seven wells, which will be drilled in four development wells and one exploration well in block Pangkah, East Java, an exploration well in South Sesulu block in East Kalimantan and one exploration well in Wokam II, Papua.

"Starting 2018, as part of a digital transformation strategy, while today's mobile work environment the use of data security systems is needed to avoid threats, especially cyber attacks. With this technology, increased productivity can occur, where all information and work can be placed in a systematic system and accessed easily through the application so that decision-making can be implemented immediately. Efficiency of our business, "he said.

IN INDONESIA

Produksi Migas Saka Energi Meningkat

PT Saka Energi Indonesia mencatat produksi pada kuartal tiga 2017 sebesar 53.168 barel setara minyak per hari (BOEPD). Realisasi itu lebih tinggi dari periode sebelumnya di 2016 yang mencapai 35.047 BOEPD. Adapun total produksi pada kuartal III ini terdiri dari 73% produksi minyak dan 27% produksi gas.

“Hal yang membanggakan yang telah dicapai oleh PGN Saka sepanjang tahun 2017 yaitu berhasil mencapai target produksi, menyederhanakan dan membuat proses operation menjadi Iebih efisien dan walaupun banyak kegiatan yang sedang dilakukan, kita tetap mampu menjaga standar keamanan,” kata Presiden Direktur Saka Energi Tumbur Parlindungan dalam media gathering di Jakarta, Selasa

(12/12).

Tumbur mengungkapkan beberapa faktor yang mempengaruhi keberhasilan tersebut yaitu adanya sumbangan hasil produksi dari blok Pangkah sebagai blok operator di lepas pantai bagian timur Laut Jawa serta blok-blok bukan operator (non-operated) seperti blok Muara Bakau dengan Lapangan Jangkriknya, blok Bangkanai di Kalimantan Tengah dan blok Ketapang di laut Jawa, blok Sanga-Sanga di Kalimantan Timur, blok Southeast Sumatra di Laut Jawa di ujung Selatan Sumatera serta blok Fasken di South Texas, Amerika.

“Produktivitas didukung dengan situasi global yang kembali stabil dengan harga minyak dunia kisaran US$ 50-60/barel,” ujarnya.

Anak usaha PT Perusahan Gas Negara Tbk itu pun mencatat pendapatan signifikan. Tumbur menerangkan capaian pendapatan pada kuartal III sebesar US$ 317 juta. Realisasi tersebut lebih besar dibandingkan tahun lalu sebesar US$ 209 juta. Kontribusi terbesar dari capaian tersebut berasal dari blok Pangkah yakni US$ 133 juta atau 42% dari total pendapatan. 

Kemudian yang kedua oleh blok Ketapang sebesar US$ 47 juta atau 15%. Sedangkan EBITDA juga tercatat mengalami peningkatan dibandingkan tahun lalu yaitu US$ 192 juta dari US$ 133 juta di 2016.

Lebih lanjut Tumbur berharap dapat mempertahankan volume produksi migas dari blok-blok yang sudah beroperasi pada tahun depan. PGN Saka memiliki rencana program pengeboran di tujuh sumur, dimana akan dilakukan pengeboran di empat sumur development dan satu sumur eksplorasi di blok Pangkah, Jawa Timur, satu sumur eksplorasi di blok South Sesulu di Kalimantan Timur dan satu sumur eksplorasi di Wokam II, Papua.

“Mulai 2018, sebagai bagian dari strategi transformasi digital, disaat lingkungan kerja yang mobile saat ini penggunaan sistem sekuriti data sangat dibutuhkan untuk menghindari ancaman, terutama serangan siber. Dengan adanya teknologi ini, peningkatkan produktivitas dapat terjadi, dimana seluruh informasi dan pekerjaan dapat diletakkan di sebuah sistem yang sistematis dan diakses dengan mudah melalui aplikasi sehingga pembuatan keputusan dapat segera dilaksanakan. Mengefisiensikan bisnis kita,” ujarnya. 

Investor Daily, Page-9, Wednesday, Dec 13, 2017