Local Government Not Agree to Divide 10% Plot of Mahakam Block

The transfer of participating interest (PI) of 10% in the Mahakam block to the local government has not been completed yet. The reason, there has been no agreement on the distribution of rights of this participation between the areas that became the location of the Mahakam Block.

the Mahakam Block

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the transfer of 10% participation rights to the area is still under discussion since there is only one BUMD that will officially hold this section. However, the BUMD is owned by several local governments as well as the location of the Mahakam Block. Until now, there has been no agreement on the distribution of rights of participation between local governments.

"The 10% share for districts, how much for the province, is submitted to the local governments discussing. They have not agreed, "he said.

He said the central government has provided guidance on the distribution of the PI in ESDM Ministerial Regulation No. 37 of 2016. If offshore oil and gas blocks are located less than 4 miles from the mainland, the districts and provinces each earn a 50% share. Meanwhile, if the location is 4-12 miles from the mainland then the province gets 100%.

It wants immediate agreement between local governments before the Mahakam block is officially switched to PT Pertamina on January 1, 2018. It is reluctant to mention the anticipation if there has been no agreement on the deadline, including whether Pertamina will hold 100% participation right in advance.

"This is being discussed. It could then count how. I think it is starting, "said Arcandra.

Referring to Ministerial Regulation 37/2016, stating if no agreement is reached within three months, the Minister shall determine the amount of participation rights of each province. The percentage distribution is based on the reservoir area of oil and gas reserves in each region.

As for offshore waters over 12 miles, the Minister will set a 10% PI offer policy. Arcandra explained, although holding the right of participation of 10%, BUMD will not be burdened with investment costs at the beginning. All investment costs required to manage the Mahakam Block will be borne by Pertamina first. BUMD can pay the investment cost that becomes its obligation with the deduction of its income.

"Reduced cost-all cost, can be net profit, keep 10% go into local government. Of the 10%, it will be cut for the 10% (investment), "he explained.

In accordance with the above regulation, this financing scheme is not subject to interest, can be returned annually on a business-as-usual basis, and the payback period begins at the time of production until the obligation is fulfilled. Meanwhile, Upstream Director of Pertamina Syamsu Alam revealed that the transfer of management is not a time limit for the release of 10% participation rights to the regions. Thus, there should be no agreement on this matter before Pertamina manages the Mahakam Block.

"Farm-in-or farm-out process is a common thing to do without being limited only by the transfer process," he said.

Previously, Pertamina through PT Pertamina Hulu Energi (PHE), has completed the transfer of 10% PI in Offshore North West Java Block (ONWJ) to BUMD DKI Jakarta and West Java, PT Migas Hulu Jabar ONWJ (MUJ ONWJ).

Referring to Ministerial Regulation 37/2016, PHE assumes all the capital required for the management of this block. Arcandra had revealed Ministerial Regulation 37/2016 aims to increase regional participation in the management of oil and gas by BUMD or by Perusahaan Daerah (Perusda).

10% PI can not be traded, transferred or pledged. The BUMD is authorized through a regional regulation and in the form of Perusda with 100% ownership or limited liability company with 99% ownership of the local government and the rest is affiliated with the local Government.

IN INDONESIA

Daerah Belum Setuju Pembagian Pl 10% Blok Mahakam

Pengalihan hak partisipasi (partisipating interest/PI) 10% di Blok Mahakam kepada pemerintah daerah hingga kini belum selesai. Pasalnya, belum ada kata sepakat soal pembagian hak partisipasi ini antara daerah-daerah yang menjadi lokasi Blok Mahakam.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, pengalihan hak partisipasi 10% ke daerah tersebut masih dalam pembahasan, mengingat hanya ada satu BUMD yang nantinya secara resmi memegang bagian ini. Namun, BUMD ini dimiliki oleh beberapa pemerintah daerah sekaligus yang menjadi lokasi Blok Mahakam. Hingga kini, belum ada kesepakatan tentang pembagian hak partisipasi tersebut antar pemerintah daerah. 

“Pembagian 10% berapa untuk kabupaten, berapa untuk provinsi, diserahkan ke pemerintah daerah yang membahas. Mereka belum sepakat," katanya.

Dikatakannya, pemerintah pusat telah memberikan panduan pembagian PI ini pada Peraturan Menteri ESDM No 37 Tahun 2016. Jika blok migas lepas pantai berlokasi kurang dari 4 mil dari daratan, maka kabupaten dan provinsi masing-masing memperoleh bagian 50%. Sementara jika lokasinya berada 4-12 mil dari daratan maka provinsi memperoleh jatah 100%.

Pihaknya menginginkan segera ada kesepakatan antar pemerintah daerah sebelum pengelolaan Blok Mahakam resmi beralih ke PT Pertamina pada 1 Januari 2018. Pihaknya enggan menyebut langkah antisipasi jika sampai batas waktu tersebut belum ada kesepakatan, termasuk apakah Pertamina akan memegang hak partisipasi 100% terlebih dahulu.

“Ini sedang dibahas. Hal itu bisa nanti hitungnya bagaimana. Saya pikir sedang dimulai,” ujar Arcandra.

Mengacu pada Peraturan Menteri 37/ 2016, disebutkan jika tidak dicapai kesepakatan dalam waktu tiga bulan, Menteri menetapkan besaran hak partisipasi masing-masing provinsi. Pembagian persentase didasarkan pada luasan reservoir cadangan migas pada masing-masing wilayah. 

Sedangkan untuk perairan lepas pantai diatas 12 mil, Menteri yang akan menetapkan kebijakan penawaran PI 10%. Arcandra menjelaskan, meski memegang hak partisipasi 10%, BUMD tidak akan dibebani biaya investasi di awal. Seluruh biaya investasi yang dibutuhkan untuk mengelola Blok Mahakam akan ditanggung oleh Pertamina terlebih dahulu.  BUMD dapat membayar biaya investasi yang menjadi kewajibannya dengan pemotongan penghasilannya.

“Dikurangi cost-cost semua, dapat laba bersih, terus 10% masuk ke pemerintah daerah. Dari 10% itu, nanti dipotong untuk yang 10% (investasi) ,” jelasnya. 

Sesuai regulasi di atas, skema pembiayaan ini tanpa dikenakan bunga, dapat dikembalikan setiap tahunnya secara kelaziman bisnis, dan jangka waktu pengembalian dimulai pada saat produksi sampai dengan terpenuhinya kewajiban. Sementara itu, Direktur Hulu Pertamina Syamsu Alam mengungkapkan, alih kelola tidak menjadi batas waktu pelepasan hak partisipasi 10% ke daerah. Sehingga, tidak harus ada kesepakatan tentang hal ini sebelum Pertamina mengelola Blok Mahakam. 

“Proses farm in-atau farm out (pelepasan saham) adalah hal yang biasa dilakukan tanpa hanya dibatasi oleh proses alih kelola,” kata dia.

Sebelumnya, Pertamina melalui PT Pertamina Hulu Energi (PHE), telah merampungkan pengalihan PI 10% di Blok Offshore North West Java (ONWJ) kepada BUMD DKI Jakarta dan Jawa Barat, PT Migas Hulu Jabar ONWJ (MHJ ONWJ). 

Mengacu pada Peraturan Menteri 37/ 2016, PHE menanggung seluruh modal yang dibutuhkan untuk pengelolaan blok ini. Arcandra sempat mengungkapkan Peraturan Menteri 37/2016 bertujuan untuk meningkatkan peran serta daerah dalam pengelolaan migas oleh BUMD atau oleh Perusahaan Daerah (Perusda). 

PI 10% tidak bisa diperjualbelikan, dialihkan, atau dijaminkan. BUMD tersebut disahkan melalui peraturan daerah dan berbentuk Perusda dengan kepemilikan saham 100% atau perseroan terbatas dengan kepemilikan saham 99% milik pemda dan sisanya teraliliasi dengan Pemerintah daerah setempat.

Investor Daily, Page-9, Wednesday, Dec 27, 2017

Shell Ready to Advance the Giant LNG ship

Shell's largest LNG ship in the world is estimated to be worth about US $ 12.6 billion

In early 2018, Royal Dutch Shell plc is preparing to operate a floating liquefied natural gas (FLNG) vessel. This ship will be in charge of extracting and processing gas at sea.

CNBC, reported last weekend, the ship along 488 meters by 74 meters is the largest ship in the world. The ship's price is estimated to be between US $ 10.8 billion and US $ 12.6 billion or around Rp 145 trillion-Rp 170 trillion. But Shell is reluctant to disclose the price of this ship.

The ship was built by Samsung's Heavy Industries in 2012 and completed in July 2017. The process of moving the ship occurs in mid-year. The ship left the shipyard in South Korea at the end of June and reached Australian waters in late July 2017.

Currently, the ship with a longer deck than the four football pitches is in the first location of the Shell Prelude gas field, about 125 miles north of offshore Western Australia.

Next year, this Prelude ship will start digging and processing gas at sea. The gas will be pumped from below the seabed to a floating platform, then cooled. The vessel is equipped with equipment to export liquefied natural gas (LNG) and liquefied petroleum gas (LPG).

It consists of side mooring system, weapon loading, and condensate through horn system and floating hose system. Shell along with joint venture partners Kogas and Inpex estimate the vessel will remain in the Prelude field for 25 years. Or before drawn to another offshore field.

When the ship is fully operational, Shell says it will harvest at least 5.3 million tonnes per year (mtpa) of liquid consisting of 3.6 mtpa LNG, 1.3 mtpa condensate and 0.4 mtpa of liquid fuel. The Dutch-based oil company claims that the amount of gas production will be higher than Hong Kong's annual requirement.

Business deal

Shell operates Prelude ships to meet the needs of LNG in the market. One of them, Kuwait Petroleum Corp. which has signed an agreement on the import of liquefied natural gas or LNG with Shell. Cooperation for 15 years to meet domestic energy demand.

The sale and purchase agreement with Shell International Trading Middle East Ltd. will begin in 2020. Shell has supplied Kuwait for refrigerated fuels since 2010.

The contract will include 2 million to 3 million metric tons of LNG per year. Without mentioning the value of this agreement, however, the LNG price agreement will be below 11% of the Brent oil pricing. LNG can help meet Kuwait's domestic demand for running air conditioners and reducing the amount of crude oil.

IN INDONESIA

Shell Siap Melajukan Kapal LNG Raksasa

Kapal LNG terbesar di dunia milik Shell diperkirakan bernilai sekitar US$ 12,6 miliar

Pada awal tahun 2018, Royal Dutch Shell plc sedang bersiap mengoperasikan kapal floating liquefied natural gas (FLNG). Kapal ini akan bertugas mengekstraksi dan memproses gas di laut.

CNBC, akhir pekan lalu melaporkan, kapal sepanjang 488 meter kali 74 meter ini adalah kapal terbesar di dunia. Harga kapal ini diperkirakan antara US$ 10,8 miliar hingga US$ 12,6 miliar atau sekitar Rp 145 triliun-Rp 170 triliun. Namun Shell enggan membeberkan harga kapal ini.

Kapal ini mulai dibangun oleh Samsung’s Heavy Industries pada tahun 2012 dan selesai pada Juli 2017 lalu. Proses pemindahan kapal terjadi pada pertengahan tahun. Kapal meninggalkan galangan kapal di Korea Selatan pada akhir Juni dan mencapai perairan Australia di akhir Juli 2017.

Saat ini, kapal dengan dek lebih panjang dari empat lapangan sepakbola ini berada di lokasi pertama yakni lapangan gas Shell Prelude, sekitar 125 mil sebelah utara dari lepas pantai Australia Barat.

Tahun depan, kapal dengan sebutan Prelude ini akan mulai menggali dan mengolah gas di laut. Gas tersebut akan dipompa dari bawah dasar laut ke platform terapung, kemudian didinginkan. Kapal ini dilengkapi dengan peralatan untuk mengekspor liquefied natural gas (LNG) dan liquefied petroleum gas (LPG).

Terdiri dari sistem tambatan samping, pemuatan senjata, dan kondensat melalui sistem tanduk dan sistem selang mengambang. Shell bersama dengan mitra usaha patungan Kogas dan Inpex memperkirakan kapal tersebut akan tetap berada di lapangan Prelude selama 25 tahun. Atau sebelum ditarik ke lapangan lepas pantai lainnya.

Ketika kapal beroperasi penuh, Shell mengatakan akan memanen setidaknya 5,3 juta ton per tahun (mtpa) cairan yang terdiri dari 3,6 mtpa LNG, 1,3 mtpa kondensat dan 0,4 mtpa dari bahan bakar cair. Perusahaan minyak berbasis di Belanda ini mengklaim bahwa jumlah produksi gas akan lebih tinggi dari kebutuhan tahunan Hong Kong.

Kesepakatan bisnis

Shell mengoperasikan kapal Prelude untuk memenuhi kebutuhan LNG di pasar. Salah satunya, Kuwait Petroleum Corp yang sudah menandatangani kesepakatan impor gas alam cair atau LNG dengan Shell. Kerjasama selama 15 tahun ini untuk memenuhi permintaan energi dalam negeri.

Perjanjian jual beli dengan Shell International Trading Middle East Ltd ini akan dimulai pada tahun 2020. Shell telah memasok Kuwait untuk bahan bakar berpendingin sejak tahun 2010.

Kontrak tersebut akan meliputi 2 juta hingga 3 juta metrik ton LNG per tahun. Tanpa menyebutkan nilai kesepakatan ini, namun kesepakatan harga LNG akan di bawah 11% dari ketetapan harga minyak Brent. LNG dapat membantu memenuhi permintaan domestik Kuwait untuk menjalankan pendingin ruangan dan mengurangi jumlah minyak mentah.

Kontan, Page-20, Wednesday, Dec 27, 2017

Total EP Finally Gets 39% Mahakam Block

Total EP must pay 39% of Mahakam block of Rp. 18.66 trillion to Pertamina

Minister of Energy and Mineral Resources Ignatius Jonan finally gave the blessing to PT Total EP Indonesie to get 39% of Mahakam block shares. This decision to revise the decision of Minister of Energy and Mineral Resources Sudirman Said who only give 30% share for Total EP in Mahakam. Deputy Minister of Energy and Mineral Resources Arcandra Tahar confirmed Minister Jonan has signed this letter of approval.

"There's a letter, maybe 39%," he said at the ESDM Ministry office. Previously, Total EP Indonesie and Inpex Corporation sent a letter of interest to manage the Mahakam Block after their contract expired December 31, 2017. They asked for a 39% share.

According to Arcandra, the entry of potential investors Mahakam block can be done after Pertamina, through its subsidiary PT Pertamina Hulu Mahakam full control of the Mahakam Block starting January 1, 2018.

That is, Total EP Indonesie does not have to enter at this time or when the contract is still operating. Total EP will discuss directly the value of valuations they must redeem to obtain 39% stake in Mahakam block with Pertamina.

Mahakam block

Since 39% of Mahakam block shares are granted to Total EP, Pertamina owns only 51% of Mahakam block shares. East Kalimantan Provincial Government shares remain 10%.

But again, the 10% participating interest (Pl) of the East Kalimantan provincial government has not been completed yet. Because Kutai Kartanegara Regency wants an additional share of ownership.

In accordance with Regulation of Minister of Energy and Mineral Resources No. 37/2016 regarding Terms of Participating Interest 10% Supply on Oil and Gas Working Area, East Kalimantan Provincial Government obtains share 66.65% and 33.35% shares for Kutai Kartanegara Regency from 10% allocation PI Block Mahakam.

"The regional government has not agreed yet, the 10% is still discussing the division of the District Government with the Provincial Government," he said.

Upstream Director of PT Pertamina Syamsu Alam said that until now he has not known about the letter to Pertamina related to the change of share down.

"Still in a noisy fuss," he said.

Mahakam Assets

Syamsu Alam stressed that it does not matter if Total EP enters after the contract expires or enters when Pertamina has invested in the Mahakam Block. However, Total EP must still pay the acquired shares plus the investments already issued by Pertamina.

"We already have the asset valuation value of the Mahakam block, but we can not open it," said Syamsu some time ago.

He said the asset valuation of Mahakam Block should indeed be calculated by Pertamina and also Total EP if they want to enter.

"If Pertamina calculates its assets by looking at the average oil price of 20-year contract period," he said.

Could be, next year's price will be expensive compared to calculated at the end of this year. Head of SKK Migas, Amien Sunaryadi once mentioned, the revaluation of assets Mahakam block done by IHS and Petropro. The calculation takes place against the asset on the surface of the Mahakam Block.

As a result, the asset value of the Mahakam Block position of December 31, 2015 reached US $ 4.79 billion.

"As for the asset value of Mahakam Block position of December 31, 2017 amounted to US $ 3.45 billion (Rp 47.86 trillion)," said Amien.

That is, if Total EP get 39% stake in Mahakam block, then Francis company must deposit funds to Pertamina Rp 18.66 trillion.

IN INDONESIA

Total EP Akhirnya Meraih Saham 39% Blok Mahakam

Total EP harus membayar 39% saham Blok Mahakam sebesar Rp. 18,66 triliun ke Pertamina

Menteri Energi dan Sumber Daya Mineral (ESDM) Ignatius Jonan akhirnya memberikan restu kepada PT Total EP Indonesie untuk mendapatkan 39% saham Blok Mahakam. Keputusan Jonan ini merevisi putusan Menteri ESDM Sudirman Said yang hanya memberi saham 30% bagi Total EP di Mahakam. Wakil Menteri ESDM Arcandra Tahar menegaskan menteri Jonan telah menandatangani surat persetujuan ini. 

"Sudah ada suratnya. Boleh 39%," katanya di Kantor Kementerian ESDM. Sebelumnya, Total EP Indonesie dan Inpex Corporation mengirimkan surat ketertarikan mengelola Blok Mahakam pasca kontrak mereka habis 31 Desember 2017. Mereka minta bagian 39% saham.

Menurut Arcandra, masuknya calon investor Blok Mahakam nanti bisa dilakukan setelah Pertamina, melalui anak usahanya PT Pertamina Hulu Mahakam menguasai secara penuh Blok Mahakam mulai 1 Januari 2018.

Artinya, Total EP Indonesie tidak harus masuk saat ini atau saat kontrak masih beroperasi. Total EP akan membahas secara langsung besaran nilai valuasi yang harus mereka tebus untuk mendapatkan 39% saham di Blok Mahakam dengan Pertamina.

Karena 39% saham Blok Mahakam diberikan ke Total EP, Pertamina hanya memiliki 51% saham Blok Mahakam. Sementara saham Pemerintah Provinsi Kalimantan Timur tetap 10%.

Namun lagi-lagi, 10% participating interest (Pl) Pemprov Kalimantan Timur sampai saat ini belum selesai. Sebab Kabupaten Kutai Kartanegara menginginkan tambahan bagian kepemilikan.

Sesuai dengan Peraturan Menteri ESDM No 37/2016 tentang Ketentuan Penawaran Participating Interest 10% pada Wilayah Kerja Minyak dan Gas Bumi, Pemerintah Provinsi Kaltim mendapatkan bagian 66,65% saham dan 33,35% saham untuk Kabupaten Kutai Kartanegara dari alokasi 10% PI Blok Mahakam. 

"Pemerintah Daerah belum sepakat. Yang 10% itu masih membahas pembagian Pemerintah Kabupaten dengan Pemerintah Provinsi," katanya. 

Direktur Hulu PT Pertamina Syamsu Alam mengatakan hingga saat ini dirinya belum mengetahui mengenai surat ke Pertamina terkait dengan perubahan share down. 

"Masih pada ribut persenan," katanya.

Aset Mahakam

Syamsu Alam menegaskan bahwa tidak masalah jika Total EP masuk setelah kontrak berakhir atau masuk ketika Pertamina sudah melakukan investasi di Blok Mahakam. Namun demikian, Total EP harus tetap membayar saham yang diperoleh plus investasi yang sudah dikeluarkan Pertamina. 

"Kami sudah punya angka valuasi aset Blok Mahakam. Namun kami tidak bisa buka," kata Syamsu beberapa waktu lalu.

Dia mengatakan, valuasi aset Blok Mahakam seharusnya memang akan dihitung oleh Pertamina dan juga Total EP jika mereka ingin masuk. 

"Kalau Pertamina menghitung asetnya dengan melihat rata-rata harga minyak 20 tahun masa kontrak," katanya.

Bisa saja, harga tahun depan akan mahal dibandingkan jika dihitung pada akhir tahun ini. Kepala SKK Migas, Amien Sunaryadi pernah menyebut, revaluasi aset Blok Mahakam dilakukan oleh IHS dan Petropro. Penghitungan berlangsung terhadap aset di permukaan (surface) Blok Mahakam. 

Hasilnya, nilai aset Blok Mahakam posisi 31 Desember 2015 mencapai US$ 4,79 miliar. 

"Sementara untuk nilai aset Blok Mahakam posisi 31 Desember 2017 sebesar US$ 3,45 miliar (Rp 47,86 triliun)," ujar Amien.

Artinya, jika Total EP mendapatkan 39% saham Blok Mahakam, maka perusahaan Francis itu harus menyetor dana ke Pertamina sebesar Rp 18,66 triliun.

Kontan, Page-14, Wednesday, Dec 27, 2017

Pre-Design Auction Masela block is slow

The auction of pre-engineered pre-engineered engineering services or Pre Front End Engineering Development (PreFEED) of Masela Block, which should be completed by the end of this year may be delayed until next year. The reason, Inpex Corp. can only complete the auction of study services to enter the Pre FEED stage.

After the Pre-FEED stage, Inpex will enter the FEED stage. This stage includes the preparation of technical specifications of technical drawing, cost estimation, and contracting strategy.

Next, Inpex will enter the stage of authorization for expenditure (AFE) construction. After obtaining approval, SKK Migas will enter the stages of procurement of construction contracts for subsequent construction of the Land Refinery.

Senior Specialist Media Relations Inpex Corp. Moch N Kurniawan explained that currently Inpex has completed the Procurement Process for Pre-FEED Study of Masela Block. These stages are marked by the completion of the Pre-FEED Pre-FEED refinery Land LNG and Flotation Production Production Deviation and Offloading.

"Next to the next stages," said Iwan

After the qualification process, Inpex will initiate a procurement auction for Pre-FEED services. In the process of procurement Pre-FEED services will generally go through four stages, namely procurement plan, pre-qualification, auction process, and signing of contract.

Because it is still limited to the Study auctions for pre-FEED, Inpex has not been able to start the Pre-FEED process that is targeted at the end of 2017. For that reason, most likely the Pre FEED auction stage was held early in 2018.

Iwan did not mention when exactly the procurement auction process of PreFEED services with a total budget of about US $ 23 million will begin. He just mentioned Inpex will complete all stages to start the development of Masela Block in Arafuru Sea.

"We are fully concentrating for this step-by-step we carry out with the best," added Iwan. Inpex has a Masela Block contract valid from 1998 to 2028.

IN INDONESIA

Lelang Pra Desain Blok Masela Lambat

Lelang pengadaan jasa pra desain rekayasa awal atau Pre-Front End Engineering Development (Pre FEED) Blok Masela yang mestinya selesai akhir tahun ini kemungkinan molor sampai tahun depan. Pasalnya, Inpex Corp baru bisa menyelesaikan lelang jasa studi untuk masuk tahap Pre FEED.

Setelah tahap Pre-FEED, Inpex akan masuk ke tahapan FEED. Tahap ini meliputi penyusunan spesifikasi teknis pembuatan gambar teknis, estimasi biaya, dan contracting strategy.

Berikutnya, Inpex akan masuk tahapan authorization for expenditure (AFE) konstruksi. Setelah mendapat persetujuan SKK Migas akan masuk tahapan pengadaan kontrak konstruksi untuk selanjutnya pelaksanaan konstruksi Kilang Darat.

Senior Specialist Media Relations Inpex Corp Moch N Kurniawan menjelaskan, saat ini Inpex telah menyelesaikan proses Pengadaan Jasa untuk Study Pre-FEED Blok Masela. Tahapan tersebut ditandai dengan selesainya pra-kualifikasi Pre-FEED kilang LNG Darat dan Fasilitas Apung Produksi Penyimpangan dan Offloading.

"Selanjutnya ke tahapan-tahapan berikutnya," ujar Iwan 

Setelah proses kualifikasi, Inpex akan memulai melakukan lelang pengadaan untuk jasa Pre-FEED. Pada proses pengadaan jasa Pre-FEED pada umumnya akan melewati empat tahapan, yaitu rencana pengadaan, pra kualifikasi, proses lelang, dan penandatanganan kontrak.

Lantaran masih sebatas lelang Studi untuk pre FEED, maka Inpex belum bisa memulai proses Pre-FEED yang ditargetkan pada akhir tahun 2017. Untuk itu, kemungkinan besar tahap lelang Pre FEED digelar awal tahun 2018.

Iwan sendiri tidak menyebutkan kapan tepatnya proses lelang pengadaan jasa PreFEED dengan total anggaran mencapai sekitar US$ 23 juta akan dimulai. Dia hanya menyebut Inpex akan menyelesaikan seluruh tahapan untuk memulai pengembangan Blok Masela di Laut Arafuru.

"Kami berkonsentrasi penuh agar tahapan demi tahapan ini kami laksanakan dengan sebaik-baiknya," imbuh Iwan. Inpex memiliki kontrak Blok Masela yang berlaku tahun 1998 sampai tahun 2028.

Kontan, Page-14, Wednesday, Dec 27, 2017

SKK Migas is now Full Control of Bontang LNG Plant

Special Unit for Upstream Oil and Gas Operations (SKK Migas) will participate in controlling the operation of LNG Badak natural gas liquids. Exactly January 1, 2018, SKK Migas will have controls on operations and costs at the Badak natural gas (LNG) refinery located in Bontang, East Kalimantan.

Previously, this refinery is managed by Pertamina subsidiary PT Badak NGL. The transfer of control from Pertamina Joint Management Group (JMG) to SKK Migas entered a new phase with the agreement on the terms of the parties.

"This is a new era of SKK Migas's role in gas processing management at the Badak refinery," said Amien Sunaryadi, Head of SKK Migas.

This transfer of control roles is in accordance with the recommendation of the Supreme Audit Agency (BPK). The goal, for optimization and efficiency. Amien revealed that for 2018, LNG production from Badak NGL reaches 50% of the national production.

"Next year, the value of LNG sales transactions processed at the Nakin Badak refinery is estimated to reach Rp 32.5 trillion," said Amien.

IN INDONESIA

SKK Migas Kini Kontrol Penuh Kilang LNG Bontang

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Migas (SKK Migas) akan ikut serta dalam pengendalian operasi kilang gas alam cair LNG Badak. Tepat 1 Januari 2018 nanti, SKK Migas akan memiliki kontrol pada operasional dan biaya di kilang gas alam cair (LNG) Badak yang berada di Bontang, Kalimantan Timur. 

Sebelumnya kilang ini dikelola anak usaha Pertamina PT Badak NGL. Peralihan kontrol dari Pertamina Joint Management Group (JMG) ke SKK Migas itu memasuki tahap baru dengan kesepakatan pokok-pokok persyaratan antara para pihak terkait. 

"Ini era baru peran SKK Migas dalam pengelolaan pemrosesan gas di kilang Badak,” kata Amien Sunaryadi Kepala SKK Migas.

Peralihan peran kontrol ini sesuai dengan rekomendasi Badan Pemeriksa Keuangan (BPK). Tujuannya, untuk optimalisasi dan efisiensi. Amien mengungkapkan, untuk tahun 2018, produksi LNG dari Badak NGL mencapai 50% dari produksi nasional. 

"Tahun depan, nilai transaksi penjualan LNG yang diproses di kilang Badak NGL diperkirakan mencapai Rp 32,5 triliun," kata Amien.

Kontan, Page-14, Wednesday, Dec 27, 2017

Ready for Fuel Price Increases

Next year's oil and gas industry is still dependent on the global escalation that determines world oil prices. On the downstream side, the potential for fuel price hikes in the shadows is in line with rising oil prices. In the upstream sector, the effectiveness of investment incentives has become an issue for investors.

The world's crude oil prices are in a crawl uptrend. The price of Indonesian crude price (ICP) in November 2017 rose to USD 59 per barrel or higher by 9.21 percent from October 2017 which reached USD 54.02 per barrel. The government is also open to re-align the price of fuel oil (BBM) with fluctuations in world oil prices in 2018.

Director General of Oil and Gas of ESDM Ministry Ego Syahrial stated that if the beginning of the year the price of crude oil reaches to the level of USD 60 per barrel, the government will adjust the price of fuel. As of December 22, 2017, the price of WTI crude oil was at USD 58.18 per barrel. Meanwhile, Brent reached at USD 64.75 per barrel.

"Early 2018 we see if the price of oil above USD 60 per barrel, the possibility we will adjust the setting," he said.

If the price of crude oil above USD 60 per barrel, the price of gasoline/ premium is very likely to go up. However, the government will try to find ways to keep fuel prices efficient at the time of rising crude oil prices. It is wrong to change the calculation of price formulation.

For example, efficient overhead costs Pertamina. The government is trying to maintain public purchasing power. In addition to changing the price formula, the government plans to extend the evaluation of fuel prices. If the current price evaluation is set per three months, it is possible that the pricing is done longer. That is, every year.

The determination of energy prices in Indonesia is not easy. On the one hand, should be accustomed to adjusted to market prices because Indonesia is an oil importer. On the other hand, the balance of people's purchasing power must be maintained. In APBN 2018, the government still sets ICP price assumption at the level of USD 48 per barrel.

Meanwhile, as of November, ICP continues to climb to as low as USD 59 per barrel. The rise in ICP affects the country's rising revenue next year. Energy subsidies will also increase. In APBN 2018, energy subsidy is set at Rp 94.5 trillion. In details, LPG subsidy of 3 kilogram (kg) tubes reached Rp 46 trillion and electricity subsidy of Rp 47.6 trillion.

Retail PSO Manager PT Pertamina Boy Frans Justus Lapian said Pertamina still opens the opportunity to raise the price of non-PSO (public service obligation) fuel such as Pertalite and Pertamax as world oil prices continue to rise.

"We can not predict because the world oil price is very difficult to predict up and down," he said.

According to Boy, world oil price becomes Pertamina's main parameter to raise fuel prices.

"But beyond that, there is another indicator that Pertamina still cannot raise the price drastically because it is very possible that our market share is decreasing, it needs a lot of parameters to determine the fuel price," he explained.

IN INDONESIA

Siap-Siap Harga BBM Naik

Industri migas tahun depan masih bergantung eskalasi global yang menjadi penentu harga minyak dunia. Di sisi hilir, potensi kenaikan BBM di bayangi seiring dengan kenaikan harga minyak. Di sektor hulu, efektivitas insentif investasi menjadi hal yang ditunggu investor. 

Harga minyak mentah dunia dalam tren merangkak naik. Harga Indonesian crude price (ICP) pada November 2017 naik menjadi USD 59 per barel atau lebih tinggi 9,21 persen dari Oktober 2017 yang mencapai USD 54,02 per barel. Pemerintah pun terbuka untuk kembali menyelaraskan harga bahan bakar minyak (BBM) dengan fluktuasi harga minyak dunia pada 2018.

Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM (ESDM) Ego Syahrial menyatakan, jika awal tahun harga minyak mentah mencapai ke level USD 60 per barel, pemerintah akan menyesuaikan harga BBM. Per 22 Desember 2017, harga minyak mentah WTI berada di level USD 58,18 per barel. Sementara itu, Brent mencapai di angka USD 64,75 per barel.

”Awal 2018 kami lihat jika harga minyak di atas USD 60 per barel, kemungkinan penetapan akan kami sesuaikan," ujarnya. 

Bila harga minyak mentah di atas USD 60 per barel, harga bensin/premium sangat mungkin ikut naik. Namun, pemerintah bakal berupaya mencari cara agar harga BBM tetap efisien di saat kenaikan harga minyak mentah. Salah situ caranya mengubah perhitungan formulasi harga. 

Misalnya, mengefisienkan biaya overhead Pertamina. Pemerintah memang berusaha menjaga daya beli masyarakat. Selain mengubah formula harga, pemerintah berencana memperpanjang evaluasi harga BBM. Jika saat ini evaluasi harga ditetapkan per tiga bulan, sangat mungkin penetapan harga dilakukan lebih lama. Yakni, setiap satu tahun.

Penentuan harga energi di Indonesia memang tidak mudah. Pada satu sisi, harus terbiasa disesuaikan dengan harga pasar karena Indonesia merupakan importer minyak. Di sisi lain, keseimbangan daya beli masyarakat harus dijaga. Dalam APBN 2018, pemerintah masih menetapkan asumsi harga ICP pada level USD 48 per barel. 

Sementara itu, per November, ICP terus naik hingga ke level USD 59 per barel. Naiknya ICP tersebut berdampak pada penerimaan negara yang meningkat pada tahun depan. Subsidi energi juga bakal meningkat. Pada APBN 2018, subsidi energi ditetapkan Rp 94,5 triliun. Perinciannya, subsidi LPG tabung 3 kilogram (kg) mencapai Rp 46 triliun dan subsidi listrik Rp 47,6 triliun.

Manager Retail PSO PT Pertamina Boy Frans Justus Lapian mengungkapkan, Pertamina tetap membuka peluang untuk menaikkan harga BBM non-PSO (public service obligation) seperti pertalite maupun pertamax saat harga minyak dunia terus naik. 

"Kami belum bisa memprediksi. Sebab, harga minyak dunia memang sangat sulit diprediksi naik maupun turun,” ungkapnya.

Menurut Boy, harga minyak dunia menjadi parameter utama Pertamina untuk menaikkan harga BBM. 

"Tetapi, di luar itu, ada indikator lain. Pertamina tetap tidak bisa menaikkan harga secara drastis. Sebab, sangat mungkin, justru pangsa pasar kami yang menurun. Diperlukan banyak parameter untuk menentukan harga BBM," terangnya.

Jawa Pos, Page-5, Wednesday, Dec 27, 2017

Upstream Sector Tax Gross Split

In 2017 the contractor of the cooperation contract (KKKS) entered the era of a new collaborative system called gross split. The one-time revision rule is still being refined by the government for tax incentives. Not only waiting for the certainty of regulation, investors are still waiting and see because of the unstable world oil price.

Head of Program and Communication Division of SKK Migas Wisnu Prabawa Taher stated that the world oil price improvement is expected to stimulate upstream oil and gas investment next year. Unexpected oil prices were also rated as one of the reasons for the lack of upstream oil and gas investment in 2017.

"This year, upstream oil and gas investments missed from USD 12 billion is estimated to be USD 10.5 billion to USD 11 billion," he said.

Meanwhile, next year's target of upstream oil and gas investment reaches USD 12 billion. Deputy Regional Oil and Gas Producers Association M. Sunni regretted that the government does not yet have KPI (Key Performance Indicator) that targets the increase of oil and gas reserves.

"As global oil and gas reserves continue to grow, while Indonesia is stagnant even for production continues to decline," he said.

IN INDONESIA
Sektor Hulu Pajak Gross Split

Tahun 2017 kontraktor kontrak kerja sama (KKKS) memasuki era sistem kerja sama baru bernama gross split. Aturan yang telah mengalami revisi satu kali tersebut masih disempurnakan pemerintah untuk insentif perpajakan. Tidak hanya menunggu kepastian regulasi, investor juga masih wait and see karena belum stabilnya harga minyak dunia.

Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher menyatakan, membaiknya harga minyak dunia diharapkan bisa menggairahkan investasi hulu migas pada tahun depan. Harga minyak yang belum sesuai harapan pun dinilai sebagai salah satu penyebab sedikitnya investasi hulu migas pada 2017. 

”Pada tahun ini memang investasi hulu migas meleset dari USD 12 miliar diperkirakan menjadi USD 10,5 miliar hingga USD 11 miliar” ujarnya.

Sedangkan pada tahun depan target investasi hulu migas mencapai USD 12 miliar. Deputi Asosiasi Penghasil Migas Daerah M. Sunni menyayangkan pemerintah belum memiliki KPI (Key Performance Indikator) yang menargetkan kenaikan cadangan migas. 

"Sebab, cadangan migas global terus bertambah. Sedangkan Indonesia stagnan bahkan untuk produksi terus menurun," katanya.

Jawa Pos, Page-5, Wednesday, Dec 27, 2017

Rekind Find Buyer

PT Rekayasa Industri (Rekind) is still looking for buyers to continue the development project of gas transmission gas pipeline Cirebon-Semarang. The Cirebon-Semarang gas pipeline is part of the Java Trans Java gas pipeline project. The trans-Java project consists of three main projects.

First, West Java with an investment of US $ 300 million with Cirebon-Kandang Haur Timur along 84 km and Tegalgede-Muara Tawar 50 km.

Second, northern Java worth US $ 400 million with the Cirebon-Semarang route 235 km. Third, East Java worth US $ 360 million with 271 km Semarang-Gresik line and East Java Gas Pipeline (EJGP) -Grati worth US $ 58 million with a length of 22.1 km.

Member of the Gas Committee of the Oil and Gas Downstream Regulatory Agency (BPH Migas) Jugi Prajugio said that currently, Industrial Engineering is still trying to get gas buyers,

Since the auction was won by Industrial Engineering 11 years ago, physical development has not been reached yet because there is no potential gas and industrial supply sources to utilize the pipeline.

"Currently PT. Industrial engineering is still trying to create potential shipper [gas owners] who will use the pipeline, "he said.

According to Jugi, data on the potential of this gas market will be the basis of project feasibility. The plan, it will re-invite Rekind to receive reports on project development in early 2018.

The engineering industry has confirmed that the company will continue the process of developing the gas pipeline which was won by its auction in 2006.

IN INDONESIA

Rekind Cari Pembeli

PT Rekayasa lndustri  (Rekind) masih mencari pembeli untuk melanjutkan proyek pembangunan pipa gas transmisi gas Cirebon-Semarang. Pipa gas Cirebon-Semarang merupakan bagian dari proyek integrasi pipa gas trans Jawa. Adapun proyek trans-Jawa terdiri atas tiga proyek utama.

Pertama, Jawa bagian barat dengan nilai investasi US$ 300 juta dengan jalur Cirebon-Kandang Haur Timur sepanjang 84 km dan Tegalgede-Muara Tawar 50 km.

Kedua, Jawa bagian utara senilai US$ 400 juta dengan jalur Cirebon-Semarang 235 km. Ketiga, Jawa bagian timur senilai US$ 360 juta dengan jalur Semarang-Gresik sepanjang 271 km dan East Java Gas Pipeline (EJGP)-Grati senilai US$ 58 juta dengan panjang 22,1 km.

Anggota Komite Gas Badan Pengatur Hilir Minyak dan Gas Bumi (BPH Migas) Jugi Prajugio mengatakan, saat ini Rekayasa Industri masih berupaya untuk mendapatkan pembeli gas, 

Sejak lelang dimenangkan Rekayasa Industri 11 tahun lalu, pembangunan fisik belum dimuiai karena belum ada sumber pasokan gas dan industri yang potensial memanfaatkan jaringan pipa tersebut.

“Saat ini PT. Rekayasa industri masih berupaya untuk mencipatkan potential shipper [pemilik gas] yang akan gunakan pipa tersebut," ujarnya.

Menurut Jugi, data tentang potensi pasar gas ini akan menjadi dasar kelayakan proyek. Rencananya, pihaknya akan kembali memanggil Rekind untuk menerima laporan perkembangan proyek pada awal 2018.

Rekayasa lndustri telah menegaskan bahwa perseroan akan melanjutkan proses pembangunan pipa gas yang dimenangkan lelangnya pada 2006 itu.

Bisnis Indonesia, Page-30, Wednesday, Dec 27, 2017

Pertamina to Develop Oil and Gas Block in Algeria

PT Pertamina explores the potential for new oil and gas development in Algeria. The assessment covers the development of existing assets and the development of new assets with a production potential of 20 thousand to 30 thousand barrels of oil per day. Total reserves reached more than 100 million barrels of oil.

President Director of PT Pertamina Elia Massa Manik stated that his company has just signed an amendment of Memorandum of Understanding (MoU) on oil and gas block management in Algeria with Sonatrach.

"As soon as the MoU is signed, Pertamina and Sonatrach will finalize the agreement and settlement commercial terms for the subsequent plan of development to the oil and gas authority in Algeria (Algeria)" he said.

The cooperation also opens opportunities from both companies to try out new business in the upstream as well as downstream. Including new potential to work on LNG and LPG business. Pertamina plans to work on three fields in Algeria.

The three fields are owned by Pertamina through its subsidiary, PIEP (Pertamina International EP) by becoming an operator that has the right to manage 65 percent in the MLN field (Menzel Lejmet North). Pertamina also has management rights in the EMK (El-Merk) field of 16.9 percent and in the OHD field (Ourhoud) 3.73 percent.

IN INDONESIA

Pertamina Kembangkan Blok Migas di Aljazair

PT Pertamina menjajaki potensi pengembangan migas baru di Aljazair. Penjajakan tersebut mencakup pengembangan aset eksisting serta pengembangan aset baru dengan potensi produksi 20 ribu-30 ribu barel minyak per hari. Total cadangan mencapai lebih dari 100 juta barel minyak. 

Direktur Utama PT Pertamina Elia Massa Manik menyatakan, pihaknya baru saja menandatangani amandemen nota kesepahaman (MoU) pengelolaan blok migas di Aljazair dengan Sonatrach. 

"Segera setelah MoU itu ditandatangani, Pertamina dan Sonatrach akan memfinalisasi kesepakatan dan melakukan settlement commercial terms untuk selanjutnya melakukan plan of development kepada otoritas migas di Algeria (Aljazair)" ujarnya.

Kerja sama itu juga membuka peluang dari kedua perusahaan untuk menjajal usaha baru di hulu maupun hiLir. Termasuk potensi baru menggarap bisnis LNG dan LPG. Pertamina rencananya menggarap tiga lapangan di Aljazair.

Tiga lapangan tersebut dimiliki Pertamina melalui anak perusahaan perseroan, yakni PIEP (Pertamina International EP) dengan menjadi operator yang memiliki hak kelola 65 persen di lapangan MLN (Menzel Lejmet North). Pertamina juga memiliki hak kelola di lapangan EMK (El-Merk) 16,9 persen serta di lapangan OHD (Ourhoud) 3,73 persen.

Jawa Pos, Page-6, Saturday, Dec 23, 2017

Jumbo Scale Negotiation in ESDM Not Fulfilled Target

The Ministry of Energy and Mineral Resources does not focus on major problems in the mineral and coal business and oil and gas

The big negotiation targets this year are misplaced. The government will even continue some negotiations next year. In fact, next year has entered a political year that is difficult to guess.

For example, negotiations Coal Mining Agreement (PKP2B) postponed until next year, and the Mahakam block negotiations between Total and Pertamina EP must also be completed by the end of this year, but it has not been clear. Finally, about Freeport Indonesia which is included in work contract negotiation (COW) should also be completed by the end of this year.

Director General of Mineral and Coal, Ministry of Energy and Mineral Resources, Bambang Gatot Ariyono quibble, in fact the government and the holders PKP2B just looking for the date of signing the amendment 18 PKP2B.

"It's near the end of the year and it's a bit difficult to manage the time, maybe January's signature," he said. The number of PKP2B is 58 companies.

Unlike the PKP2B, the government is still having difficulty completing the amendment of KK holders. Currently, there are still 9 out of 30 families who have not signed contract amendments. Some companies have very advanced discussion but some are still difficult.

"Around five companies still do not want to agree," he said.

Bambang said it still has not decided whether the approval of the company's work plan and budget (RKAB) that does not amend its contract will be withheld. It needs to be discussed further.

Earlier, ESDM Minister Ignatius Jonan said the contract amendments should be completed this year. It is ready to take a firm stance "RKAB for next year I do not sign it must be finished," he said.

PT Freeport Indonesia's negotiations with the government are still very difficult. Bambang Gatot is reluctant to open his mouth in connection with the affairs of Freeport Indonesia. Though negotiations must be completed this year.

Negotiations will make it difficult for both parties if it is delayed until mid-2018. Because it has entered the political year. Problems that still hamper Indonesia's negotiations with Freeport are taxation and divestment schemes. Freeport still wants its initial public offering (IPO). While the government remains firm to forbid Freeport to hold the remaining 41.64% of the divestment belonging to the Government of Indonesia.

In addition to mineral and coal matters, the ESDM Ministry is still discussing the letter of PT Total EP Indonesie which still wants 39% stake in the Mahakam Block. Whereas in the previous letter, Total is only given 30% of shares. This problem arose when Jonan had time to make a statement by giving the Total EP opportunity to have a greater share. However, Pertamina has not agreed. Syamsu Alam Upstream Director of Pertamina said Pertamina belonged to the state.

"But we only participate if the government asks, because according to the previous letter is only 30% for Total EP," he said.

He explained, it does not matter if until the end of the contract runs out Total EP December 31, 2017 did not conduct transactions with Pertamina related to their participation in the Mahakam Block. Because, it has set aside US $ 700 million for investment in the Mahakam Block.

IN INDONESIA

Negosiasi Skala Jumbo di ESDM Tidak Penuhi Target

Kementerian ESDM tidak fokus dengan masalah besar di bisnis minerba dan migas

Target negosiasi besar tahun ini banyak yang meleset. Pemerintah malah akan meneruskan beberapa negosiasi itu pada tahun depan. Padahal, tahun depan sudah memasuki tahun politik yang sulit ditebak.

Misalnya, negosiasi Perjanjian Karya Pengusahaan Pertambangan Batubara (PKP2B) ditunda hingga tahun depan, lalu negosiasi Blok Mahakam antara Total EP dan Pertamina juga harus tuntas akhir tahun ini, tapi belum jelas. Terakhir tentang Freeport Indonesia yang masuk dalam negosiasi kontrak karya (KK) harusnya juga tuntas akhir tahun ini.

Direktur Jenderal Mineral dan Batubara Kementerian ESDM, Bambang Gatot Ariyono berdalih, sebenarnya pemerintah dan para pemegang PKP2B hanya mencari tanggal penandatanganan amandemen 18 PKP2B. 

"Sekarang sudah dekat akhir tahun dan di daerah agak susah mengatur waktunya, mungkin tanda tangan Januari saja," katanya. Jumlah PKP2B sebanyak 58 perusahaan.

Berbeda dengan PKP2B, pemerintah masih kesulitan menyelesaikan amendemen pemegang KK. Saat ini, masih ada 9 dari 30 KK yang belum menandatangani amandemen kontrak. Beberapa perusahaan sudah sangat maju pembahasannya tetapi ada beberapa yang masih sulit. 

"Sekitar lima perusahaan yang masih belum mau sepakat," ujarnya. 

Bambang menyatakan pihaknya masih belum memutuskan apakah persetujuan rencana kerja dan anggaran belanja (RKAB) perusahaan yang tidak mengamandemen kontraknya akan ditahan. Hal tersebut perlu dibahas lebih lanjut.

Sebelumnya, Menteri ESDM Ignasius Jonan mengatakan amandemen kontrak harus selesai tahun ini. Pihaknya siap mengambil sikap tegas "RKAB untuk tahun depan tidak saya tandatangani. Harus selesai," tuturnya.

Negosiasi PT Freeport Indonesia dengan pemerintah juga masih sangat sulit. Bambang Gatot enggan membuka mulut terkait dengan urusan Freeport Indonesia. Padahal negosiasi harus selesai tahun ini.

Negosiasi akan menyulitkan kedua pihak jika sampai tertunda sampai pertengahan tahun 2018. Sebab sudah memasuki tahun politik. Masalah yang masih menghambat negosiasi Indonesia dengan Freeport adalah perpajakan dan skema divestasi. Freeport masih tetap menginginkan penawaran saham perdana alias initial public offering ( IPO). Sedangkan pemerintah tetap teguh melarang Freeport melakukan 41,64% sisa divestasi milik Pemerintah Indonesia.

Selain urusan mineral dan batubara, Kementerian ESDM masih membahas surat PT Total EP Indonesie yang masih menginginkan 39% saham di Blok Mahakam. Padahal dalam Surat sebelumnya, Total hanya diberikan 30% saham. Permasalahan ini muncul ketika Jonan sempat membuat pernyataan dengan memberikan peluang Total EP untuk memiliki saham lebih besar lagi. Namun, Pertamina belum setuju. Syamsu Alam Direktur Hulu Pertamina menyatakan, Pertamina milik negara.

"Tetapi kami hanya ikut jika pemerintah yang meminta. Sebab sesuai surat sebelumnya memang hanya 30% saja untuk Total EP," ujar dia.

Dia menjelaskan, tidak masalah jika sampai akhir kontrak habis Total EP 31 Desember 2017 tidak melakukan transaksi dengan Pertamina terkait keikutsertaan mereka di Blok Mahakam. Sebab, pihaknya sudah menyiapkan dana US$ 700 juta untuk investasi di Blok Mahakam.

Kontan, Page-14, Friday, Dec 22, 2017