Some Contractors Interested

auction of oil and gas blocks

    Several oil and gas contractors are interested to participate in the 25-40 auction of oil and gas working areas to be opened this month. Some companies claim to see offerings of about 25 work areas to 40 work areas as an opportunity to strengthen oil and gas business in Indonesia.

    Vice President of Public and Government Affairs of ExxonMobil Indonesia Erwin Maryoto said it will continue to seek and evaluate new opportunities in Indonesia.

"We will seek potential in Indonesia that is in line with business objectives, including oil and gas blocks offered by the Indonesian government," he said.

    Erwin said, it is committed to continue to invest in the oil and gas sector in Indonesia, both upstream and downstream sectors.

"Currently, our oil and gas production from Banyu Urip field in Cepu Block is more than 200,000 barrels per day. Nationally, the production is arguably already 25% of total oil and gas production in Indonesia, "he said.

    Not only Exxon, PT Saka Energy Indonesia was already square off to follow the auction of oil and gas blocks this year. Vice President Exploration Saka Energi Indonesia Rovicky Putrohari said the company is proposing to conduct joint study on two working areas this year.

"A joint study proposal has been submitted to the government."
     Subsidiary of PT PGN Tbk. it just won an oil / gas block auction stage I / 2017 at the end of last month. Saka Energy won the Pekawai Block and West Yamdena Block. At the 2018 oil and gas block auction there are 40 work areas ready to be auctioned, but the Ministry of Energy and Mineral Resources (ESDM) is still evaluating the prospect of 15 termination working areas available.

 
    The 25 unconventional conventional oil and gas blocks will come from the work areas available by 2018, working areas prepared for the second phase / 2017 auction, and unsold work areas by 2015 and 2016.

    Meanwhile, the ESDM ministry has allowed oil and gas companies to conduct joint studies on oil and gas working areas to be auctioned.

IN INDONESIA

Beberapa Kontraktor Mulai Berminat

    Beberapa kontraktor minyak dan gas bumi berminat untuk ikut serta dalam lelang 25-40 wilayah kerja migas yang akan dibuka bulan ini. Beberapa perusahaan mengaku melihat penawaran sekitar 25 wilayah kerja sampai 40 wilayah kerja sebagai peluang untuk memperkuat bisnis migas di Indonesia.

    Vice President Public and Government Affairs ExxonMobil Indonesia Erwin Maryoto mengatakan, pihaknya akan terus mencari dan mengevaluasi kesempatan baru yang ada di Indonesia.

“Kami akan mencari potensi di Indonesia yang sesuai dengan tujuan bisnis, termasuk blok-blok migas yang ditawarkan pemerintah Indonesia,” ujarnya.

    Erwin menuturkan, pihaknya berkomitmen untuk terus berinvestasi pada sektor migas di Indonesia, baik sektor hulu maupun hilir.

“Saat ini, produksi migas kami dari lapangan Banyu Urip di Blok Cepu sudah Iebih dari 200.000 barel per hari. Secara nasional, produksi itu bisa dibilang sudah 25% dari total produksi migas di Indonesia,” tuturnya.

    Bukan hanya Exxon saja, PT Saka Energi Indonesia pun sudah ancang-ancang untuk mengikuti lelang blok migas pada tahun ini. Vice President Exploration Saka Energi Indonesia Rovicky Putrohari mengatakan, perseroan sedang mengajukan untuk melakukan studi bersama pada dua wilayah kerja pada tahun ini.

“Proposal studi bersama sudah diajukan kepada pemerintah.”

    Anak usaha PT PGN Tbk. itu baru saja memenangkan lelang blok migas tahap I/2017 pada akhir bulan lalu. Saka Energi memenangkan Blok Pekawai dan Blok West Yamdena. Pada lelang blok migas 2018 terdapat 40 wilayah kerja yang siap dilelang, tetapi Kementerian Energi dan Sumber Daya Mineral (ESDM) masih mengevaluasi prospek 15 wilayah kerja terminasi yang tersedia.

    Secara 25 blok migas konvensional yang pasti dilelang itu berasal dari wilayah kerja yang tersedia pada 2018, Wilayah kerja yang disiapkan untuk lelang tahap II/2017, dan wilayah kerja yang tidak laku pada 2015 dan 2016.

    Sementara itu, kementerian ESDM telah mengizinkan perusahaan migas melakukan studi bersama terhadap wilayah kerja migas yang akan dilelang.

Bisnis Indonesia, Page-30, Monday, Feb 5, 2018

LPG & Regasifikasi Removed from Pertagas

    PT Perta Arun Gas and PT Perta Samtan Gas will be excluded from PT Pertamina Gas to make it easier for the company to consolidate its natural gas business.

    Perta Arun and Perta Samtan have been the subsidiaries of PT Pertamina Gas (Pertagas). The two companies will be merged into a subsidiary of PT Pertamina (Persero) others who have a similar business.

    Perta Arun is a subsidiary of Pertagas that manages the floating storage and regasification unit (FSRU) Arun. Meanwhile, Perta Samtan has been producing Liquefied Petroleum Gas (LPG).

    In fact, the separation plan has been strengthened in the company's work plan and budget (RKAP) 2018 Pertagas which did not include Perta Arun and Perta Samtan.

    Pertagas, a subsidiary of Pertamina, also targets a net profit of 2018 of US $ 116 million, down 17.73 percent compared to last year's US $ 141 million because it does not include Perta Arun and Perta Samtan contributions.

    President Director of Pertagas Suko Hartono said that the company's net profit target fell because it did not include contributions from its two subsidiaries, Perta Arun and Perta Samtan.

 "Target [Pertagas's net profit] in 2018 is slightly decreased because in RKAP does not include two subsidiaries [Perta Arun and Perta Samtan]. The two subsidiaries will be merged into other Pertamina subsidiaries, "he said during a discussion of 2018 Industry and Gas Outlook.

    He did not clearly explain the separation of the two subsidiaries in connection with the plan to create a holding company of state-owned oil and gas companies that include PT Perusahaan Gas Negara (Persero) Tbk. into Pertamina. After PGN becomes part of Pertamina, the next step is to synergize the natural gas issuer with Pertagas.

    At the extraordinary general meeting of shareholders (PGAS) codenamed stockholders held on January 25, 2018, PGN shareholders agreed to join Pertamina.

"Perta Arun and Perta Samtan will enter the holding [Pertamina]. That is to facilitate the consolidation. We together with Pertagas Niaga remain one unit, "he said.

    Perta Arun and Perta Samtan are two of Pertagas's four subsidiaries. Two other subsidiaries are PT Pertagas Niaga and PT Perta Daya Gas.

    In 2017, Perta Samtan recorded a net profit of US $ 26.7 million and Perta Arun posted net profit of US $ 24.6 million. In addition, Pertagas Niaga contributed net profit of US $ 9.3 million and Perta Daya amounting to US $ 644,000. The rest, about 67%, came from Pertagas net profit.

    The release of Perta Arun and Perta Samtan is part of the plan to create a holding company of BUMN oil and gas which incorporates PGAS into Pertamina.

MORE EFFICIENT

    According to him, the concept of holding is the ideal form now for PGN and Pertagas that have similar business sectors so that the operations of both companies in the field become more efficient.

"When talking Pertagas and PGN divisions. Pertagas will take care of the transmission pipeline and PGN takes care of the distribution. So, if integration, not overlapping actually, "he said.

    Suko said that if talked about assets, Pertagas has an open access transmission pipeline network that can be freely used by anyone. On the other hand, PGN has a distribution pipeline network.

"Our pipes are intercity inter-provinces and can deliver all. Meanwhile, PGN is strong in the distribution pipeline, "he stressed.

    Suko added that in 2017 Pertagas's net profit performance surpassed PGN. As of September 2017, Pertagas's net profit reached US $ 111.52 million and PGN was only US $ 97.9 million. In fact, in terms of revenue, PGN recorded US $ 2.16 million while Pertagas US $ 463.62 million.

    Suko said that in relation to the plan, the incorporation of PGN with Pertagas, the team needs to identify the problems that exist in PGN and Pertagas first to be completed.

"So the most ideal, walk first. To implement the merger of two companies is not as easy as imagined. I imagine, maybe 1 year, "said Suko.

    Melanton Ganap, Technical Director and Commerce Commercial Director, said that this year Pertagas Niaga is targeting a net profit of US $ 24.05 million, a significant increase compared to its performance in 2017.

    The increase in net profit will be supported by the addition of large-scale gas customers as many as 32 companies and also plans to supply liquefied natural gas / LNG for a number of power plants PT Perusahaan Listrik Negara (Persero) in Bangka Belitung.

"In 2018, there will be an LNG commercial plan to PLN Batam, Bangka Belitung for 28 BBtud [billion British thermal unit, and LNG Niaga LNG to PLN Sambera with 7.5 BBtud from April," Melanton said.

    Perta Arun Gas Budiyana, Pertam Arun's operating and engineering director, said that Perta Arun has set a net profit target of US $ 27 million this year from US $ 24 million, S9 million. One effort made by optimizing the regasification facility also expects PLN to classify its gas allocation for the Karadeniz power plant. "

    Axis Mahendrawanto, Vice President Director of Pertam Samtan Gas, said that currently Pertam Samtan has just contributed 3% of total national LPG requirement. In 2017, Pertam Samtan's total LPG production totaled 195,000 tons.

"Last year we managed to record revenues of US $ 106.9 million and net income of US $ 26.7 million. Performance depends on the price of [LPG] Aramco. "

IN INDONESIA

Elpiji & Regasifikasi Dilepas dari Pertagas

    PT Perta Arun Gas dan PT Perta Samtan Gas akan dikeluarkan dari PT Pertamina Gas untuk mempermudah perseroan dalam melakukan konsolidasi bisnis gas bumi.

    Perta Arun dan Perta Samtan selama ini menjadi anak usaha PT Pertamina Gas (Pertagas). Kedua perusahaan itu akan digabung ke anak perusahaan PT Pertamina (Persero) lainnya yang memiliki bisnis serupa.

    Perta Arun merupakan anak usaha Pertagas yang mengelola fasilitas penyimpanan dan regasifikasi terapung (floating storage & regasification unit/ FSRU) Arun. Sementara itu, Perta Samtan selama ini memproduksi gas elpiji (liquefied petroleum gas/LPG).

    Bahkan, rencana pemisahan itu sudah diperkuat dalam rencana kerja dan anggaran perusahaan (RKAP) 2018 Pertagas yang tidak memasukkan Perta Arun dan Perta Samtan.

    Pertagas, anak usaha Pertamina, pun menargetkan laba bersih 2018 sebesar US$ 116 juta turun 17,73% dibandingkan dengan realisasi tahun lalu US$ 141 juta karena tidak lagi memasukkan kontribusi Perta Arun dan Perta Samtan.

    Direktur Utama Pertagas Suko Hartono mengatakan bahwa target laba bersih perseroan turun karena tidak memasukkan kontribusi dari dua anak usahanya, yakni Perta Arun dan Perta Samtan.

 “Target [laba bersih Pertagas] pada 2018 sedikit turun karena dalam RKAP tidak memasukkan dua anak usaha [Perta Arun dan Perta Samtan]. Dua anak usaha itu akan digabung ke anak perusahaan Pertamina lainnya,” katanya saat diskusi Outlook Industri dan Gas 2018.

    Dia tidak menjelaskan secara jelas pemisahan dua anak usaha itu terkait dengan rencana pembentukan induk usaha BUMN migas yang memasukkan PT Perusahaan Gas Negara (Persero) Tbk. ke dalam Pertamina. Setelah PGN menjadi bagian dari Pertamina, tahap berikutnya adalah menyinergikan emiten gas bumi itu dengan Pertagas.

    Dalam rapat umum pemegang saham (RUPS) luar biasa emiten berkode saham PGAS yang digelar pada 25 Januari 2018, pemegang saham PGN sepakat untuk bergabung ke dalam Pertamina.

“Perta Arun dan Perta Samtan akan masuk ke holding [Pertamina]. Itu untuk memudahkan secara konsolidasi. Kami bersama Pertagas Niaga tetap menjadi satu kesatuan,” katanya.

    Perta Arun dan Perta Samtan merupakan dua dari empat anak usaha Pertagas. Dua anak usaha lainnya adalah PT Pertagas Niaga dan PT Perta Daya Gas.

    Pada 2017, Perta Samtan tercatat membukukan laba bersih US$ 26,7 juta dan Perta Arun mencetak laba bersih US$ 24,6 juta. Selain itu, Pertagas Niaga memberikan kontribusi laba bersih US$ 9,3 juta dan Perta Daya sebesar US$ 644.000. Sisanya, sekitar 67%, berasal dari laba bersih Pertagas.

    Pelepasan Perta Arun dan Perta Samtan merupakan bagian dari rencana pembentukan induk usaha BUMN migas yang menggabungkan PGAS ke dalam Pertamina.

LEBIH EFISIEN

    Menurutnya, konsep holding merupakan bentuk ideal saat ini untuk PGN dan Pertagas yang mempunyai sektor usaha sejenis sehingga kegiatan operasi kedua perusahaan di lapangan menjadi lebih efisien.

“Kalau bicara pembagian Pertagas dan PGN. Pertagas akan mengurus [pipa gas] transmisi dan PGN mengurus distribusi. Jadi, kalau integrasi, tidak tumpang tindih sebenarnya,” kata dia.

    Suko mengatakan, jika bicara aset, Pertagas memiliki jaringan pipa transmisi open access yang bisa bebas digunakan siapapun. Di sisi lain, PGN memiliki jaringan pipa distribusi.

“Pipa kami itu antarkota antarprovinsi dan bisa mengantar semua. Sementara itu, PGN kuat di pipa distribusi,” tegas dia.

    Suko menambahkan, pada 2017 kinerja laba bersih Pertagas berhasil melampaui PGN. Per September 2017, laba bersih Pertagas mencapai US$ 111,52 juta dan PGN hanya US$ 97,9 juta. Padahal, dari sisi pendapatan, PGN membukukan US$ 2,16 juta  sedangkan Pertagas US$ 463,62 juta.

    Suko menuturkan, terkait dengan rencana, penggabungan PGN dengan Pertagas, tim perlu mengindentifikasi masalah-masalah yang ada di PGN dan Pertagas terlebih dahulu untuk kemudian diselesaikan.

“Jadi paling ideal, berjalan beririgan dulu. Untuk mengimplementasi penggabungan dua perusahaan tidak semudah yang dibayangkan. Saya bayangkan, mungkin 1 tahun,” ungkap Suko.

    Melanton Ganap, Direktur Teknik dan Komersial Pertagas Niaga, mengatakan bahwa pada tahun ini Pertagas Niaga menargetkan laba bersih US$ 24,05 juta, naik signifikan dibandingkan dengan kinerja pada 2017.

    Peningkatan laba bersih akan didukung penambahan pelanggan gas skala besar sebanyak 32 perusahaan dan juga rencana memasok gas alam cair/LNG untuk sejumlah pembangkit PT Perusahaan Listrik Negara (Persero) di Bangka Belitung.

“Pada 2018, ada rencana niaga LNG ke PLN Batam, Bangka Belitung sebesar 28 BBtud [miliar British thermal unit, dan rencana Niaga LNG ke PLN Sambera dengan volume 7,5 BBtud mulai April,” kata Melanton.

    Direktur operasi dan Teknik Perta Arun Gas Budiyana mengatakan, Perta Arun mematok target laba bersih US$27 juta pada tahun ini naik dibandingkan dengan 2017 sebesar US$24,S9 juta. Salah satu upaya yang dilakukan dengan mengoptimalkan fasilitas regasifikasi juga mengharapkan PLN meregasifikasikan alokasi gasnya untuk kapal pembangkit Karadeniz.”

    Axis Mahendrawanto, Vice President Direktur Perta Samtan Gas, mengatakan bahwa saat ini Perta Samtan baru saja  berkontribusi 3% dari total kebutuhan elpiji nasional. Pada 2017, total produksi elpiji Perta Samtan mencapai 195.000 ton.

“Tahun lalu kami berhasil membukukan pendapatan US$ 106,9 juta dan laba bersih US$ 26,7 juta. Kinerja bergantung pada harga
jual [LPG] Aramco.”

Bisnis Indonesia, Page-30, Monday, Feb 5, 2018

Bullish Prospect of Market Dominance

    A number of international investment banks posted a bullish outlook for crude oil commodities for the first half of 2018. The projection is in line with expectations of a successful cut of OPEC production tackling global supply surplus.

    Three international bank instruments issued a bullish outlook on oil commodities, Goldman Sachs Group Inc. Morgan Stanley, and JP Morgan Chase & Co.

   

 Goldman Sachs

 Goldman Sachs raised its price target to US $ 82 per barrel in the first half of this year, while JP Morgan estimated Brent's average oil price of US $ 70 per barrel to almost 50% higher than projected earlier in October.

    This is in line with OPEC and its allies' efforts to comply with a production cut of 1.8 million bpd by the end of 2018. The three-agency's bullish stand is inversely proportionate to the overwhelming skepticism.

     In 2014, Goldman Sachs published a report entitled "New Oil Order" stating that OPEC is "outdated" and officially no longer valid. Goldman Sachs Group Inc. estimates that OPEC's efforts to curb supply will be virtually ineffective when the US shale oil industry can rapidly increase production at large volumes.
   

 Morgan Stanley

 Similarly, Morgan Stanley could judge OPEC's decision to announce the intention of cutting production in September 2016 is unlikely to be implemented. Meanwhile, JP Morgan expects the OPEC deal to collapse by the end of 2017 and Commerz bank AG says OPEC is too promising and lacking in service.

    However, OPEC members actually apply 95% of the cuts promised last year. The realization of production cuts by OPEC allies reached 82%. OPEC's compliance has improved over the past year to 129% by December 2017. Admittedly, unplanned losses in Venezuela and elsewhere have helped, but clearly no compliance levels have taken place in the history of OPEC.

    Medio in January 2018, Goldman Sachs raised its Brent price forecast, an international benchmark for oil, averaging US $ 75 per barrel over the next 3 months. The projection is up from the previous target of US $ 62 per barrel.

    Goldman Sachs also raised its 6 and 12 month forecasts to US $ 82, S0 and US $ 75 per barrel respectively. Goldman's projection is the most bullish compared to JP. Morgan and Morgan Stanley.

   

 JP Morgan

 Last week, JP Morgan raised its Brent oil price forecast to US $ 70 per barrel this year and US $ 78 per barrel in the first half of 2018. Meanwhile, Morgan Stanley expects Brent oil prices to touch US $ 75 per barrel this year.

    On Friday (1/2), oil prices fell as the dollar surged following strong US employment data. At the close of trading in West Texas Intermediate (WTI) oil prices the most-active contract in March 2018 fell 0.35 points or 0.53 percent to US $ 65.45 a barrel on the New York Mercantile Exchange.

    The most-active Brent oil price in April 2018 fell 1.07 points, or 1.54 percent, to $ 68, S8 per barrel on the London-based ICE Futures Europe exchange. Meanwhile, the US dollar index rose 0.52 points or 0.59% to 89.195 after the release of positive US labor data.

    The US Labor Department released Friday reported nonfarm payroll data [NFP] for the January 2018 period to increase by 200,000, higher than the 175,000 consensus, while the unemployment rate was unchanged at 4.1%.

US PRODUCTION

    Crude was also hit by US production rising above 10 million barrels per day (bpd) for the first time in more than four decades in November, the Energy Information Administration (EIA) reported earlier this week. Production also hit record levels, making oil prices lose power these days.

"Oil prices have come under pressure due to rising US oil production along with a rebound in the US dollar index. The price is currently in the overbought region, which has also led to profit-taking, "said Abhisek Kumar, senior energy analyst at Interfax Energy's Global Gas Analytics in London, as reported by Reuters.

    Despite the weakness, crude oil prices are still supported by strong demand as producers attempt to cut production deals.

Jon Rigby, an analyst at UBS AG, said in a note saying that the production of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC and US shale oil has been justified to focus this year. But according to him, demand has supported tightening.

"Demand has quietly supported market tightening over the past year," Rigby said, as quoted by Reuters.

    Global crude oil demand last year rose 1.6 million barrels per day (bpd), or about 1.5% from a year earlier. UBS AG projects that this year oil demand will grow 1.3 million bpd.

    According to a Reuters survey, OPEC production in January 2018 has risen from an eight-month low, but this increase is not significant. Meanwhile, Russian data became a form of strong adherence to a decline in output with an output amount of only 10.95 million bpd at present.

"Last year, efforts to cut production of oil inventories fell by 220 million barrels from a level of 340 million barrels.The world crude oil producers' compulsory rose 138% in January 2018 from 137% in December 2017. Commitment to a production trimming deal will not be deterred even when oil prices reaching its highest level since 2014, "he said.

    The cut has offset rising US crude oil output based on Energy Information Administration (EIA) data that has exceeded 10 million bpd in November for the first time since 1970. Meanwhile, Baker Hughes said that in the second week of February, the US will add 6 drilling rigs, so it has a total of 765 rigs, the second consecutive week's rise.

IN INDONESIA

Prospek Bullish Dominasi Pasar

Sejumlah investment bank internasional memasang prospek bullish terhadap komoditas minyak mentah untuk periode semester I/2018. Proyeksi itu sejalan dengan harapan berhasilnya pemangkasan produksi OPEC mengatasi kelebihan pasokan global.

Tiga instrument bank international yang mengeluarkan prospek bulish terhadap komoditas minyak, yakni Goldman Sachs Group Inc. Morgan Stanley, dan JP Morgan Chase & Co.

    Goldman Sachs menaikkan target harga mencapai US$ 82 per barel pada paruh pertama tahun ini, sedangkan JP Morgan memperkirakan harga rerata minyak Brent sebesar US$ 70 per barel hampir 50% lebih tinggi dari proyeksi awal Oktober lalu.

    Hal ini sejalan dengan upaya OPEC dan sekutunya untuk mematuhi kesepakatan pemangkasan produksi sebanyak 1,8 juta bph hingga akhir 2018. Sikap bullish tiga institusi keuangan itu berbanding terbalik dari skeptisisme yang membayangi selama ini.

    Pada 2014, Goldman Sachs menerbitkan laporan berjudul “New Oil Order” yang menyebutkan bahwa OPEC “sudah usang” dan secara resmi tidak berlaku lagi. Ketika itu, Goldman Sachs Group Inc memperkirakan bahwa upaya OPEC untuk mengekang pasokan hampir tidak akan efektif di saat industri shale oil Amerika Serikat yang dapat meningkatkan produksi dengan cepat dengan volume yang besar.

    Senada, Morgan Stanley sempat menilai langkah OPEC mengumumkan niat pemangkasan produksi pada September 2016 kecil kemungkinan untuk di implementasikan. Adapun, JP Morgan memperkirakan kesepakatan OPEC akan runtuh pada akhir 2017 dan Commerz bank AG mengatakan OPEC terlalu menjanjikan dan kurang mengabdi.

    Namun, nyatanya anggota OPEC justru menerapkan 95% pemotongan yang dijanjikan tahun lalu. Adapun realisasi pemangkasan produksi oleh para sekutu OPEC mencapai 82%. Kepatuhan OPEC membaik sepanjang tahun lalu hingga mencapai 129% pada Desember 2017. Diakui, kerugian yang tidak direncanakan di Venezuela dan tempat lain telah membantu, namun yang jelas tingkat kepatuhan tidak pernah terjadi dalam sejarah OPEC.

    Medio Januari 2018, Goldman Sachs menaikkan proyeksi harga Brent, patokan internasional untuk minyak, rata-rata US$ 75 per barel selama 3 bulan ke depan. Proyeksi itu naik dari target sebelumnya sebesar US$ 62 per barel.

    Goldman Sachs juga menaikkan perkiraan 6 dan 12 bulan menjadi masing-masing US$ 82,S0 dan US$ 75 per barel. Proyeksi Goldman paling bullish dibandingkan dengan JP. Morgan dan Morgan Stanley.

    Pekan lalu, JP Morgan menaikkan perkiraan harga minyak Brent menjadi rerata US$ 70 per barel pada tahun ini dan US$ 78 per barel pada semester I/2018. Adapun, Morgan Stanley memperkirakan harga minyak Brent dapat menyentuh US$ 75 per barel pada tahun ini.

    Pada Jumat (1/2), harga minyak turun karena dolar melonjak menyusul data tenaga kerja AS yang kuat. Pada penutupan perdagangan harga minyak West Texas Intermediate (WTI) kontrak teraktif Maret 2018 melemah 0,35 poin atau 0,53% menjadi US$65,45 per barel di New York Merchantile Exchange.

    Adapun harga minyak Brent kontrak teraktif April 2018 turun 1,07 poin atau 1,54% menuju US$ 68,S8 per barel di ICE Futures Europe yang berbasis di London. Sementara itu, indeks dolar AS mengalami kenaikan 0,52 poin atau 0,59% menjadi 89,195 pasca rilis data tenaga kerja AS yang positif.

    Departemen Tenaga Kerja AS yang dirilis pada Jumat (1/2) melaporkan data non farm payroll [NFP) untuk periode Januari 2018 meningkat 200.000, lebih tinggi dari konsensus sebesar 175.000, sedangkan tingkat pengangguran tidak berubah sebesar 4,1%.

PRODUKSI AS

    Minyak mentah juga mengalami tekanan akibat produksi AS meningkat di atas 10 juta barel per hari (bph) untuk pertama kalinya dalam lebih dari empat dekade pada November, seperti dilaporkan Energy Information Administration (EIA) awal pekan ini. Produksi juga menpapai tingkat rekor tertinggi, membuat harga minyak kehilangan tenaga akhir-akhir ini.

“Harga minyak telah mendapatkan tekanan karena kenaikan produksi minyak AS bersamaan dengan rebound indeks dolar AS. Harganya saat ini berada di wilayah overbought, yang juga telah mendorong aksi ambil untung,” kata Abhisek Kumar, senior energy analyst di Interfax Energy’s Global Gas Analytics di London, seperti dilansir Reuters.

    Kendati mengalami pelemahan, harga minyak mentah masih mendapat dukungan dari permintaan yang kuat seiring dengan upaya produsen dalam menjalankan kesepakatan pemotongan produksi.

    Jon Rigby, analis UBS AG dalam sebuah catatan menuturkan bahwa produksi Organization of Petroleum Exporting Countries (OPEC) dan non-OPEC serta minyak shale AS telah dibenarkan menjadi fokus pada tahun ini. Namun menurutnya, permintaan telah mendukung pengetatan.

“Permintaan secara diam-diam mendukung pengetatan pasar selama tahun lalu,” tutur Rigby, seperti dilansir dari Reuters.

    Permintaan minyak mentah global pada tahun lalu naik 1,6 juta barel per hari (bph), atau sekitar 1,5% dari tahun sebelumnya. UBS AG memproyeksikan bahwa pada tahun ini permintaan minyak akan tumbuh 1,3 juta bph.

    Menurut survei Reuters, produksi OPEC pada periode Januari 2018 telah naik dari level terendah 8 bulan, namun kenaikan ini tidak signifikan. Sementara itu, data Rusia menjadi bentuk kepatuhan yang kuat terhadap penurunan produksi dengan jumlah output hanya 10,95 juta bph pada saat ini.

"Tahun lalu, upaya pemangkasan produksi persediaan minyak turun 220 juta barel dari level 340 juta barel. Kepatuhan produsen minyak mentah dunia naik 138% pada Januari 2018 dari 137% pada Desember 2017. Komitmen pada kesepakatan pemangkasan produksi tidak akan tergoyahkan, bahkan ketika harga minyak mencapai tingkat tertinggi sejak 2014,” paparnya.

    Pemotongan tersebut telah mengimbangi kenaikan produksi minyak mentah AS yang berdasarkan data Energy Information Administration (EIA) telah melampaui 10 juta bph pada November untuk pertama kalinya sejak 1970. Sementara itu, Baker Hughes mengatakan bahwa pada pekan kedua Februari, AS akan menambahkan 6 rig pengeboran, sehingga memiliki total sebanyak 765 rig, kenaikan minggu ke dua berturut-turut.

Bisnis Indonesia, Page-16, Monday, Feb 5, 2018

Bontang Passion Refinery

    PT Pertamina (Persero) is projecting the construction of a new oil refinery or Grass Root Refinery Bontang can start 2 years ahead or by 2020. As the project manager, the SOE targets to complete this mega project in 2025.

    Director of Mega Pertamina Processing and Petrochemical Project Ardhy Mokobombang said the mega project of Grass Root Refinery Bontang will absorb 20,000 workers.

"We are trying to advocate for the Ministry of Manpower for training and certification of construction workers," he said.

    In the meeting, Ardhy explained, training and certification of construction workers will be a priority before the refinery operates. This move is said to be similar to that applied to the Refinery Development Master Plan (RDMP) Refinery V Pertamina Refinery in Balikpapan.

    Meanwhile, the refinery model in Taman City will be similar to the model in Tuban, which is processing crude oil to fuel at least 300,000 barrels per day. Meanwhile, PT Pertamina cooperates with companies from Oman, Overseas Oil and Gas LLC (OOG), and Cosmo Oil International Pte Ltd (COl) in the development of a subsidiary or trading arm of Cosmo Energy Group one of Japan's oil processing companies.

    

 Overseas Oil and Gas LLC and Cosmo Oil International Pte Ltd (COl)

    He said in this cooperation, Pertamina certainly did not participate in financing the development fund. However, 10% of the shares as participated in the consortium belong to the company.

    

 Cosmo Energy Group one of Japan's

   So, he said Pertamina still has the authority to control the business, including in supplying crude oil to the refinery. The investment value of this new refinery is worth the US $ 10 billion or around Rp130 ​​trillion. The construction of the refinery requires an area of ​​up to 500 hectares. Bontang City Government itself has prepared the land in the Village area Bontang Lestari.

"For Grass Root Refinery 400 hectares but investors are interested in the concept of the petrochemical industry. So we ask for 100 hectares next to the refinery, "he said.

    He explained that the initial phase of construction will begin with the signing of a framework work contract agreement with a consortium targeted for completion this week.

"Then from there, Pertamina will be Feasibility study [FS] up to next year. After that go into the stages of preparation engineering package "

    The existence of the Grass-Root Refinery will increase the number of refineries in the gas and condensate processing areas. Previously in the same area has been established gas processing plant owned by PT Badak and fertilizer owned Pupuk Kaltim.

Bontang Mayor Neni Moerniaeni

     Bontang Mayor Neni Moerniaeni said Bontang people are very welcome this project, Bontang, said Neni, 82% of the land has been certified.

"We are ready to support this project as soon as possible."

    Neni claims infrastructure in Bontang is also one step ahead of other regions, especially when compared to Tuban. The existence of Bontang in the heart of East Kalimantan is more complete with the existence of the Port of Special Industrial Area [KIK].

 
    Beyond that, the City Government and the House of Representatives (DPRD) of Bontang are also drafting two related legal rules, among them, the Regional Regulation of Spatial Detail Plan (RDTR) and the Regional Regulation of Lnduk, Spatial and Regional Plan (RTRW). The last regulation in the drafting was difficult, considering that 12 items were rejected by local businessmen.

    When confirmed, the Chairman of the Special Committee RTRW Bontang Muslimin said if the process is waiting for evaluation RTRW of the Ministry of Agrarian and Spatial (ATR).
 

"The process is expected to take 2 months has been running for a month. Perhaps March has come out, "said Neni also saw the existence of this new oil refinery is important to support the resilience and independence of domestic energy, including reducing dependence on the outside," said Muslimin.

REVISION of Regional Regulations

    East Kalimantan Provincial People's Representative Council targets the revision of regional regulations or Regional Government Regulations of PT Migas Mandiri Pratama will be completed within the next 3 months. The revision refers to the Minister of Energy and Mineral Resources Regulation No.37 / 2016 regarding Terms of Participating Internal 10% Supply on Oil and Gas Working Area particularly Article 3 letter A number 2Capital Ownership.

    Meanwhile, the proposal and ratification of this regulation change has actually been rolling since the end of 2017. PT Migas Mandiri Pratama (MPP) is a BUMD established by the Provincial Government of East Kalimantan based on East Kalimantan Regulation no. 11/2009 which aims to control and manage the potential of oil and gas, both in upstream and downstream business activities particularly related to the Mahakam Work Area.

    The revision of the Regional Regulation is needed for the East Kalimantan The Provincial Government which currently controls 99.75% of shares can control a 100% stake in the BUMD. Currently, 0.25% of the shares still belong to the Cooperative Corps of Employees of the Republic of Indonesia of East Kalimantan

    Speaker of the East Kalimantan Regional House of Representatives (DPRD), HM Syahrun said the Special Committee will invite PT Pertamina and related government parties to do the deepening of the material. On the one hand, Alung, as he is called, said that the management of this work area will have an impact on increasing the contribution of state revenue and foreign exchange of state and local revenue.
"Through Participating Interest 10%, estimates, East Kalimantan can get a minimum of Rp 2 trillion in a year," said Syahrun.

    Syahrun is optimistic that the revision target can be overtaken. Only two articles are revised. First, article 8, paragraph 1 and 2 on Employee Appointment and Dismissal is regulated in accordance with Law no. 13/2003 on Manpower and Company Regulations of PT MMP Kaltim.

Second, article 10 paragraph 1 verse 4 in accordance with the provisions of Minister of Energy and Mineral Resources Regulation no. 37/2016 article 3 letter A number 2.

Bisnis Indonesia, Page-9, Monday, Feb 5, 2018

Pertamina Dug New Wells in Subang

    PT Pertamina EP began to explore the field or Work Area (WA) Jatiasri-9 (Jas-9) in Subang, West Java. Oil wells being extracted by PT Pertamina Drilling Services Indonesia (PDSI) have the potential to increase Pertamina's oil production. Jas-9 field manager Reza Yudha Pramono said the company could not yet target the amount of oil production in the Work Area (WA).

"However, this Work Area (WA) has the potential to produce 300 barrels per day," Reza said when met in Jas-9 field.

    He explained that the drilling and exploration process in the location is quite complicated because it must think about the position of drilling points adjacent to highways and houses. According to him, at the expected point, there is an oil source near the highway. However, the installation of drilling rigs is not placed near public roads.

"Because there are roads and rice fields, we put (drilling rig) if drawn a straight line about 500 meters to get there (the point that there is an estimated oil source)," said Reza.

    Given these conditions, Reza said, the pipes used in the drilling to winding up to the point where the estimated source of oil. Every 30 meters of pipes, continued Reza, there is a slope of up to one degree to reach the point of potential oil source. Project Manager PDSI Java-Eastern Indonesia Region, Komedy, said it plans to add a cyber rig that is currently also used in Jas-9 field.

 

 Cyber Rig

"In 2018 it plans to add three units of 1,500 HP and three 1,000-powered mobile units," said Komedi.

    Earlier, in 2011, PDSI began purchasing computer-based drilling rigs as it was safer and easier to use. The investment value of one cyber rig equipment worth 29 million US dollars. Investment rig is done gradually every time there is an expolation. Currently, PDSI has 10 units of cyber rigs.

    Komedy explains, of the 10 rig cyber owned by PDSI, all used for exploitation, exploration, and production in a number of locations. Some are placed in Java, Sumatra, Kalimantan, and southern Sumatra. Komedy explains the 10 cyber rigs are different drilling tools with the newfangled manual.

"These devices are operated and controlled accurately with computer systems," says Komedy.

    He revealed that PDSI started using a cyber-55 rig in Work Area (WA) Jatiasri-9 since December 30, 2017. Komedy asserts, the drilling rig is not the only one that PDSI currently has to explore the potential field. According to him, PDSI has started buying and using computer-based drilling rigs since 2011.

"The one we use right now in Jas-9 field is one of 10 cyber rigs owned by PDSI," said Komedi.
   
    Komedy rate cyber rig made in the United States was indeed very in demand because it is superior to the manual type. Operation is even already using the touch screen and one monitor can control all existing equipment. In addition, cyber rigs can also provide information based on drilling activities conducted with alarm and warning systems.

"This rig has a maximum setting system, just one person operated with the support of five 500 volt engine generator set," said Komedy.

    He made sure, out of a total of 10 cyber rigs owned by PDSI, they never stopped to work on various exploration projects. Currently, there are four units operated in Java Island, three for geothermal projects, and three in Aceh.

IN INDONESIA

Pertamina Gali Sumur Baru di Subang

    PT Pertamina EP mulai mengeksplorasi lapangan atau Wilayah Kerja (WK) Jatiasri-9 (Jas-9) di Subang, Jawa Barat. Sumur minyak yang sedang digali PT Pertamina Drilling Services Indonesia (PDSI) berpotensi menambah produksi minyak Pertamina. Manajer lapangan Jas-9 Reza Yudha Pramono mengatakan, perusahaan belum bisa menargetkan jumlah produksi minyak di WK tersebut.

"Akan tetapi, WK ini berpotensi menghasilkan rninyak 300 barel per hari," kata Reza saat ditemui di lapangan Jas-9.

    Dia menjelaskan, proses pengeboran dan eksplorasi di lokasi tersebut cukup rumit karena harus memikirkan posisi titik pengeboran yang berdekatan dengan jalan raya dan rumah penduduk. Menurut dia, di titik yang diperkirakan, terdapat sumber minyak yang berada di dekat jalan raya. Meskipun begitu, pemasangan rig pengeboran tidak ditempatkan dekat jalan raya yang menjadi fasilitas masyarakat.

"Karena ada jalan raya dan sawah, kami pasang (rig pengeboran) jika ditarik garis lurus sekitar 500 meter ke sana (titik yang diperkirakan ada sumber minyak)," ungkap Reza.

    Dengan adanya kondisi tersebut, Reza menuturkan, pipa yang digunakan dalam pengeboran tersebut berbelok-belok hingga sampai ke titik perkiraan terdapatnya sumber minyak. Setiap 30 meter pipa, lanjut Reza, ada kemiringan hingga satu derajat untuk mencapai titik potensi sumber minyak.

    Project Manager PDSI Jawa-Kawasan Timur Indonesia, Komedi, mengatakan, pihaknya berencana menambah rig cyber yang saat ini juga dipakai di lapangan Jas-9.

"Tahun 2018 rencananya akan menambah tiga unit berkekuatan 1.500 HP dan tiga unit berkekuatan 1.000 HP," kata Komedi.

    Sebelumnya, pada 2011, PDSI mulai membeli rig pengeboran berbasis komputer itu karena lebih aman dan mudah digunakan. Nilai investasi satu peralatan rig cyber senilai 29 juta dolar AS. Investasi rig dilakukan bertahap setiap kali ada ekspolarasi. Saat ini, PDSI memiliki 10 unit rig cyber.

    Komedi menjelaskan, dari 10 rig cyber milik PDSI, semuanya digunakan untuk eksploitasi, eksplorasi, dan produksi di sejumlah lokasi. Beberapa di antaranya ditempatkan di Jawa, Sumatra, Kalimantan, dan Sumatra bagian selatan. Komedi menjelaskan 10 rig cyber merupakan alat pengeboran yang berbeda dengan yang bermodel manual.

"Alat ini dioperasikan dan dikontrol secara akurat dengan sistem komputer," kata Komedi.

    Dia mengungkapkan, PDSI mulai menggunakan rig cyber-55 di WK Jatiasri-9 sejak 30 Desember 2017. Komedi menegaskan, rig pengeboran tersebut bukan menjadi satu-satunya yang dimiliki PDSI saat ini untuk mengeksplorasi lapangan berpotensi. Menurut dia, PDSI sudah mulai membeli dan menggunakan rig pengeboran berbasis komputer sejak 2011.

"Yang kami gunakan saat ini di lapangan Jas-9 merupakan satu dari 10 rig cyber yang dimiliki PDSI," kata Komedi.

    Komedi menilai rig cyber buatan Amerika Serikat itu memang sangat diminati karena lebih unggul dibandingkan tipe manualnya. Pengoperasiannya bahkan sudah menggunakan layar sentuh dan satu monitor bisa mengontrol semua peralatan yang ada. Selain itu, rig cyber juga bisa memberikan informasi berdasarkan aktivitas pengeboran yang dilakukan dengan sistem alarm dan peringatan.

"Rig ini memiliki sistem pengaturan yang maksimal, cukup dioperasikan satu orang dengan dukungan lima mesin genset berkekuatan 500 volt," tutur Komedi.

    Dia memastikan, dari total 10 rig cyber yang dimiliki PDSI, semuanya tidak pernah berhenti untuk menggarap berbagai proyek eksplorasi. Saat ini, terdapat empat unit yang dioperasikan di Pulau Jawa, tiga untuk proyek panas bumi, dan tiga unit di Aceh.

Republika, Page-6, Saturday, Feb 3, 2018

Wood Mackenzie Highlight Holding Oil and Gas

    Wood Mackenzie's business consultant, Wood Mackenzie, highlighted the plan of holding a state-owned oil and gas company. The process is still waiting for permission from President Joko Widodo (Jokowi) to issue a government regulation on the holding.

    Senior Analyst Wood Mackenzie Edi Saputra revealed, the formation of holding BUMN Migas as a positive step of the government because it can provide benefits to the company.

    Pertamina can increase the marketing of the current consumer of PT Perusahaan Gas Negara Tbk (PGN). Pertamina risks excess of liqufied natural gas (LNG) contract. With the holding, Pertamina has access to reach PGN's main consumers, namely industrial consumers to reduce the risk of excess supply of LNG.

    At the same time, PGN is also struggling to create regasification in floating storage regasification terminal (FSRU) floating terminal Lampung. Pertamina can find new jobs for the assets. As Pertamina plans to increase the regasification project in Indonesia.

    Holding oil and gas SOEs could also create a new start for the government to reform domestic gas prices. How, to be a gas aggregator by searching from various sources. This can ease price fluctuations for consumers and accommodate high use of LNG.

    However, there are some notes from the establishment of state-owned oil and gas holding, there are some uncertainties. First, the merger of Pertamina and PGN will create a large integrated company from upstream to downstream.

"This can reduce competition in the market, need regulation to prevent monopoly," said Edi.

    Second, the sub-holding related uncertainty, is mainly related to Saka Energy's position in the upstream sub-holding. In addition, the fate of Pertamina's subsidiaries in the fields of geothermal, electricity and renewable energy is not yet clear. Members of the BPH Migas Committee, Jugi Prajogio promised to arrange for the gas business climate to remain conducive.

"What we are watching is not only PGN and Pertagas, but there are 20 SOEs" he said.

IN INDONESIA

Wood Mackenzie Sorot Holding Migas

    Konsultan bisnis di sektor energi, Wood Mackenzie menyorot rencana pembentukan holding BUMN migas. Prosesnya kini masih menunggu izin dari Presiden Joko Widodo (Jokowi) menerbitkan peraturan pemerintah tentang holding tersebut.

    Analis Senior Wood Mackenzie Edi Saputra mengungkapkan, pembentukan holding BUMN Migas sebagai langkah positif pemerintah karena bisa memberikan keuntungan untuk perusahaan.

    Pertamina bisa meningkatkan pemasaran dari Iuasnya konsumen PT Perusahaan Gas Negara Tbk (PGN) saat ini. Pertamina berisiko kelebihan kontrak liqufied natural gas (LNG). Dengan adanya holding, Pertamina memiliki akses meraih konsumen utama PGN, yaitu konsumen industri untuk mengurangi risiko kelebihan pasokan LNG.

    Di waktu yang sama, PGN juga berjuang menciptakan regasifikasi di terminal terapung alias floating storage regasification unit (FSRU) Lampung. Pertamina bisa mencari pekerjaan baru untuk aset itu. Sebagaimana rencana Pertamina meningkatkan proyek regasifikasi di Indonesia.

    Holding BUMN migas juga bisa menciptakan awal baru untuk pemerintah melakukan reformasi harga gas domestik. Caranya, menjadi agregator gas dengan mencari dari berbagai sumber. Hal ini bisa meredakan fluktuasi harga bagi konsumen dan mengakomodasi penggunaan LNG yang tinggi.

    Tapi, muncul beberapa catatan dari terbentuknya holding BUMN migas, ada beberapa ketidakpastian, Pertama, penggabungan Pertamina dan PGN akan menciptakan perusahaan terintegrasi yang besar dari hulu hingga hilir.

"Ini bisa mengurangi kompetisi di pasar. Perlu regulasi agar mencegah monopoli," kata Edi.

    Kedua, ketidakpastian terkait sub-holding, terutama terkait posisi Saka Energi dalam sub-holding hulu. Selain itu, nasib anak usaha Pertamina di bidang panas bumi, listrik dan energi baru terbarukan belum juga jelas. Anggota Komite BPH Migas, Jugi Prajogio berjanji akan mengatur agar iklim usaha gas tetap kondusif.

"Yang kami awasi tidak hanya PGN dan Pertagas, tapi ada 20 BUMN" katanya.

Kontan, Page-14, Saturday, Feb 3, 2018

PGN Proved not Monopoly Price

    The judges considered the pricing by PGN is part of government policy because there is reporting to the government based on Peratumn Minister of Energy and Mineral Resources.

    The West Jakarta District Court overturned the decision of the Business Competition Supervisory Commission (KPPU) stating PT Perusahaan Gas Negara (Persero) Tbk (PGN) was guilty of determining the selling price of natural gas in Medan, North Sumatra.

"The court has annulled the decision of the KPPU dated November 14, 2017 by deciding that PGN is not guilty because it is not proven to be a violation," said PGN Corporate Secretary Rachmat Hutama.

    In the ruling, the court granted the objection submitted by the PGN legal team team in its entirety. The court also requires the KPPU to pay for court fees. In its consideration, the judges considered the gas sale and purchase agreement (PJBG) should not be taken care of by KPPU. Therefore, the case is a dispute between business actors and consumers as regulated in Law No. 8 of 1999.

"According to the panel of judges, the case of PJBG is not the authority of KPPU, but the Consumer Dispute Settlement Agency," Rachmat said.

    Another consideration that reinforces the annulment of KPPU's decision, Rachmat said, relates to object objects that are exempted from Anti-Monopoly Law. Rachmat explained that the assembly assessed the pricing by PGN has been based on the prevailing laws and regulations, namely Minister of Energy and Mineral Resources Regulation No. 21/2008 and ESDM Ministerial Regulation No. 19/2009.

    In addition, the Panel of Judges assessed the pricing by PGN is part of the government's policy because there is reporting to the government pursuant to Article 21 Section 5 of Regulation of the Minister of Energy and Mineral Resources No. 19/2009.

"That way, the panel of judges decided PGN was not proven to violate Article 17 of the Anti-Monopoly Law," Rachmat said.

    For information, in the last trial held on Tuesday (14/11), the panel of judges KPPU PGN management decided guilty in determining the selling price of natural gas in the city of Medan.

    In the verdict, KPPU decided PGN to pay a fine of Rp 9.9 billion. In its decision, KPPU said PGN has set an excessive price by not considering the purchasing power of domestic consumers in determining the increase of gas price in the period of August-November 2015.

Efficiency

    Previously, PGN which has code issuer PGAS in Indonesia Stock Exchange has held extraordinary general meeting of shareholders (EGM) on 25 January. In the RUPSLB, PGN approved the plan to transfer the company's shares to Pertamina as holding holding of BUMN Migas. The transfer is effective after the issuance of a Government Regulation on the Establishment of Oil and Gas Holdings.

"Approved 77.8%. After this there is a discussion lelaih advanced, "said Corporate Secretary PGN Rachmat Hutomo after PGN EGM.

    PGN Jobi President Director Triananda Hasjim conveyed by holding, the length of the network pipeline will be more than 10 thousand km. Currently the PGN transmission network is only 7,500 km and Pertagas 3,000 km.

"By joining, the company's expansion becomes easier, not only for pipes, but also CNG saving, and LNG easier. Holding also creates efficiency, "he said.

IN INDONESIA

PGN Terbukti  tidak Monopoli Harga

    Majelis hakim menilai penetapan harga oleh PGN ialah bagian dari kebijakan pemerintah karena ada pelaporan kepada pemerintah berdasarkan Peratumn Menteri ESDM.

    Pengadilan Negeri Jakarta Barat membatalkan keputusan Komisi Pengawas Persaingan Usaha (KPPU) yang menyatakan PT Perusahaan Gas Negara (Persero) Tbk (PGN) bersalah dalam penetapan harga jual gas bumi di Medan, Sumatra Utara.

“Pengadilan telah membatalkan keputusan KPPU tertanggal 14 November 2017 dengan memutuskan bahwa PGN tidak bersalah karena tidak terbukti melakukan pelanggaran,” ujar Sekretaris Perusahaan PGN Rachmat Hutama.

    Dalam putusan itu, pengadilan mengabulkan keberatan yang diajukan tim kuasa hukum PGN secara seluruhnya. Pengadilan juga mewajibkan KPPU untuk membayar biaya persidangan. Dalam pertimbangannya, majelis hakim menilai perkara perjanjian jual beli gas (PJBG) tidak semestinya diurus KPPU. Sebab, perkara itu merupakan sengketa antara pelaku usaha dan konsumen yang diatur dalam Undang-Undang Nomor 8 Tahun 1999.

“Menurut majelis hakim, perkara PJBG bukan merupakan kewenangan KPPU, melainkan Badan Penyelesaian Sengketa Konsumen,” kata Rachmat.
   
    Pertimbangan lain yang menguatkan pembatalan keputusan KPPU, kata Rachmat, terkait objek perkara yang dikecualikan dari Undang-Undang AntiMonopoli. Rachmat menjelaskan majelis menilai penetapan harga oleh PGN telah berdasarkan ketentuan perundang-undangan yang berlaku, yakni Peraturan Menteri ESDM No 21/2008 dan Peraturan-Menteri ESDM N0 19/2009.

    Selain itu, Majelis Hakim menilai penetapan harga oleh PGN merupakan bagian dari kebijakan pemerintah karena ada pelaporan kepada pemerintah berdasarkan Pasal 21 Ayat 5 Peraturan Menteri ESDM No 19/2009.

“Dengan begitu, majelis hakim memutuskan PGN tidak terbukti melanggar Pasal 17 UU AntiMonopoli,” kata Rachmat.

    Sebagai informasi, dalam persidangan terakhir yang digelar pada Selasa (14/11), majelis hakim KPPU memutuskan manajemen PGN bersalah dalam penetapan harga jual gas bumi di kota Medan.

    Pada vonis tersebut, KPPU memutuskan agar PGN membayar denda sebesar Rp 9,9 miliar. Dalam amar putusannya, KPPU menyatakan PGN telah menetapkan harga yang berlebihan (excessive price) dengan tidak mempertimbangkan kemampuan daya beli konsumen dalam negeri dalam menetapkan kenaikan harga gas dalam kurun waktu Agustus-November 2015.

Efisiensi

    Sebelumnya, PGN yang memiliki kode emiten PGAS di Bursa Efek Indonesia telah menggelar rapat umum pemegang saham luar biasa (RUPSLB) pada 25 Januari lalu. Dalam RUPSLB itu, PGN menyetujui rencana pengalihan saham perusahaan ke Pertamina sebagai induk holding BUMN Migas. Pengalihan berlaku efektif setelah keluarnya Peraturan Pemerintah mengenai Pembentukan Holding Minyak dan Gas.

“Sudah disetujui 77,8-%. Setelah ini ada pembahasan lelaih lanjut,” ujar Sekretaris Perusahaan PGN Rachmat Hutomo seusai RUPSLB PGN.

    Direktur Utama PGN Jobi Triananda Hasjim menyampaikan dengan holding, panjang pipa jaringan akan menjadi lebih dari10 ribu km. Saat ini jaringan transmisi PGN hanya 7.500 km dan Pertagas 3.000 km.

“Dengan bergabung, ekspansi perseroan menjadi lebih mudah, tidak hanya untuk pipa, tapi juga penyaIuran CNG, dan LNG lebih mudah. Holding pun menciptakan efisiensi,” ucapnya.

Media Indonesia, Page-17, Friday, Feb 2, 2018

LNG Exports, Pertamina Will Be US $ 10.4 M

    PT Pertamina (Persero) has the potential to obtain US $ 10.4 billion from the sale of liquefied natural gas / LNG to Bangladesh and Pakistan.

    Pertamina Corporate Communication Vice President Adiatma Sardjito said the company and Bangladesh Oil and Gas Corporation (Petrobangla) have signed Letter Of Intent (LOI) bindings related to this LNG supply. Later, the company will send LNG with volume of 1 million tons per year for 10 years.

"The total value (gas supply) of US $ 4 billion and will begin to be supplied in" fourth quarter of 2018, "Adiatma Sardjito.

    The signing of the agreement was conducted simultaneously with President Joko Widodo's Visit to Bangladesh, Pakistan and other countries in South Asia. The agreement was signed by Pertamina LNG Vice President Wiko Migantoro and Petrobangla Secretary Syed Ashfaquzzaman, witnessed by President Joko Widodo and Prime Minister of the Republic of Bangladesh Sheikh Hasina in Bangladesh.

    Not only from Bangladesh, Pertamina will also get LNG payments from Pakistan. Still in a series of visits to South Asia, President Joko Widodo also witnessed the signing of the Inter Governmental Agreement (IGA) in Energy with Pakistan, which underlies the sale of LNG from Indonesia to Pakistan.

    Pertamina together with Pakistan LNG Ltd will follow up the signing of the agreement by discussing a projected LNG purchase agreement of 1.5 million tons per year for 10 years with a five-year extension option. From this transaction, Pertamina has the potential to earn US $ 6.4 billion.

    Energy cooperation between Indonesia and Bangladesh initiated by the government since September 2017. The signing of agreements with the two countries is a form of follow-up to the cooperation. Pertamina took a role through various LNG buying and selling agreements and other cooperation with several energy companies.

    Earlier, Minister of State Electricity, Energy and Mineral Resources Nasrul Hamid said, Bangladesh's energy needs continue increasing every year. LNG imports from Indonesia are expected to overcome LNG deficit in Bangladesh which is estimated to reach 1 million tons per year in 2018 and increase to 11 million tons per year by 2030.

    To overcome this, Bangladesh has also agreed on the construction of two floating shelter and regasification units (FSRU) with a capacity of 1,000 million cubic feet per day (millions standard cubic per day / mmscfd).

"By mid 2018, we expect to be able to obtain the first ever LNG supply in our pipeline. It will continue to grow in the future, "he said.

    Not only to supply gas, Pertamina will also build PLTG. 1,400 MW worth US $ 2 billion in Bangladesh. The realization of this project is marked by the signing of a memorandum of understanding between Pertamina and the Bangladesh Power Development Board (BPDP).

   Bangladesh Power Development Board (BPDP).

 Later, BPDB will act as the buyer of electricity generated by the integrated facility. This PLTG is projected to begin construction in 2019 with a construction period of three years after the completion of funding. This PLTG will be connected to a liquefied natural gas (LNG) facility, consisting of Floating Storage and Regasification Unit (FSRU), mooring and off loading infrastructure, and both subsea gas pipelines and onshore. Gas supply will come from Pertamina.

IN INDONESIA

Ekspor LNG, Pertamina Akan Dapat US$ 10,4 M

    PT Pertamina (Persero) berpotensi memperoleh US$ 10,4 miliar dari hasil penjualan gas alam cair/LNG ke Bangladesh dan Pakistan.

    Vice President Corporate Communication Pertamina Adiatma Sardjito menyatakan, perseroan dan Bangladesh Oil and Gas Corporation (Petrobangla) telah menandatangani Letter Of Intent (LOI) binding terkait pasokan LNG ini. Nantinya, perseroan akan mengirim LNG dengan volume 1 juta ton per tahun selama 10 tahun.

“Nilai total (pasokan gas) US$ 4 miliar dan akan mulai disuplai pada “kuartal keempat tahun 2018 ini,” Adiatma Sardjito.

    Penandatanganan kesepakatan itu dilakukan bersamaan dengan Kunjungan Presiden Joko Widodo ke Bangladesh, Pakistan, dan negara-negara lain di Asia Selatan. Kesepakatan ini ditandatangani  oleh Vice President LNG Pertamina Wiko Migantoro dan Sekretaris Petrobangla Syed Ashfaquzzaman, disaksikan Presiden Joko Widodo dan Perdana Menteri Republik Bangladesh Sheikh Hasina di Bangladesh.

    Tidak hanya dari Bangladesh, Pertamina juga akan memperoleh pembayaran LNG dari Pakistan. Masih dalam rangkaian kunjungan ke Asia Selatan, Presiden Joko Widodo juga menyaksikan penandatanganan Inter Governmental Agreement (IGA) di bidang Energi dengan Pakistan, yang mendasari penjualan LNG dari Indonesia ke Pakistan.

    Pertamina bersama Pakistan LNG Ltd akan menindaklanjuti penandatanganan kesepakatan itu dengan membahas perjanjian jual beli LNG yang diproyeksikan sebesar 1,5 juta ton per tahun selama 10 tahun dengan opsi perpanjangan lima tahun. Dari transaksi ini, Pertamina berpotensi memperoleh US$ 6,4 miliar.

    Kerja sama di bidang energi antara Indonesia dengan Bangladesh dan Pakistan yang diinisiasi pemerintah sejak September 2017. Penandatangan kesepakatan dengan kedua negara merupakan bentuk tindak lanjut dari kerja sama tersebut. Pertamina mengambil peran melalui berbagai kesepakatan jual beli LNG dan kerja sama lainnya dengan beberapa perusahaan energi.

    Sebelumnya, Menteri Negara Listrik, Energi, dan Sumber Daya Mineral Nasrul Hamid mengatakan, kebutuhan energi Bangladesh terus meningkat setiap tahunnya. Impor LNG dari Indonesia diharapkan bisa mengatasi defisit LNG di Bangladesh yang diperkirakan mencapai 1 juta ton per tahun pada 2018 dan meningkat menjadi 11 juta ton per tahun pada 2030.

    Untuk mengatasi hal ini, Bangladesh juga sudah menyepakati pembangunan dua unit penampungan dan regasifikasi terapung (FSRU) dengan kapasitas 1.000juta kaki kubik per hari (millions standard cubic per day/mmscfd).

“Pada pertengahan 2018, kami berharap bisa memperoleh pasokan LNG pertama kalinya dalam jaringan pipa kami. Ini akan terus bertambah ke depannya,” tuturnya.

    Tidak hanya memasok gas, Pertamina juga akan membangun PLTG. 1.400 MW senilai US$ 2 miliar di Bangladesh. Realisasi proyek ini ditandai dengan ditandatanganinya nota kesepahaman antara Pertamina dan Bangladesh Power Development Board (BPDP).

    Nantinya, BPDB akan bertindak sebagai pembeli listrik yang dihasilkan oleh fasilitas terintegrasi tersebut. PLTG ini diproyeksikan mulai konstruksi pada 2019 dengan masa pembangunan tiga tahun setelah penyelesaian pendanaan. PLTG ini nantinya akan terhubung dengan fasilitas penerima gas alam cair (liquefied natural gas/LNG), yang terdiri dari unit penampungan dan regasifikasi terapung (Floating Storage and Regasification Unit/ FSRU) , infrastruktur mooring dan off loading, serta jalur pipa gas baik subsea maupun onshore. Pasokan gas akan berasal dari Pertamina.

Investor Daily, Page-9, Friday, Feb 2, 2018

Pertamina EP Targets Oil and Gas Production 253,202 MBOEPD

    PT Pertamina EP, a subsidiary of PT Pertamina (Persero), targets oil and gas production in 2018 to be 253,202 barrel oil equivalent per day (BOEPD), up slightly from oil and gas production in 2017 of 253 MMBOEPD. Meanwhile, revenue is targeted at US $ 2.78 billion or more than the realization in 2017 of US $ 2.76 billion.

"The increase in production in-2018 is expected to be obtained from several well development drilling activities and work over that has been done. This year will be a drilling program of 83 development wells and 146 wells work over, "said President Director of PT Pertamina EP Nanang Abdul Manaf.

    

     According to Nanang, several fields that are expected to contribute significantly are Bunyu field in East Kalimantan as well as several other fields in asset 2 which during 2017 contributed greatly. As for the gas production is expected from several projects that are ready for production or on stream.

"Gas production is 2018, smaller than the actual production of 2017. This is because there is planned shut down at Subang Field, West Java and Matindok in Banggai, Central Sulawesi because PT Donggi Senoro LNG refinery is turn around. But from the accumulated oil and gas production (oil and gas) is greater than the realization in 2017, "said Nanang.

    In addition to several fields that are expected to contribute to the increased production of Pertamina EP in 2018, the increase in production is derived from the commitment of the implementation of work plan based on priority scale together with SKK oil and gas and PT Pertamina (Persero) and synergy with other subsidiaries.

    With the increase in production targets, revenue will also go up. In addition, the increase in revenue is projected with oil prices that will continue to improve or at least still the same as the end of 2017.

"The most important thing to be able to increase revenue is the implementation of the program according to target time, budget and quality based on priority scale and efficiency," he said.

    On the other hand, Nanang explained about the increase of oil and gas reserves. This year Pertamina EP plans to drill proving up of 23 wells from asset 1 to asset 5. Other activities undertaken are plan of Develeopment (POD) from the structure of new exploration findings such as Karang Makmur and Benggala wells then POFD making activity at well Betung, Semberah, North Mahakam Phase 2, Recognize Acid and Carambola. There is also reassessment activity of updating data in West Musi structure.

"The total of all efforts made is 55.59 MMBOE. And as of January 1, 2018, Pertamina EP's total oil and gas reserves amounted to 1,940.15 MMBOE, "he said.

    Nanang said that in 2017, the company recorded a net profit of US $ 615 million, up 4.4 percent compared to the net profit of US $ 589 million in 2016. The increase in net profit was supported by an increase in revenues from US $ 2.49 billion in 2016 US $ 2.76 billion in 2017.

    The drivers of net profit increase also came from oil stocks released last year that lifting reached 77,900 barrels per day, higher than average production of 2017 of 77,200 bph. The increase in profits is also sustained by prices global crude oil improved at the end of last year. Moreover, from the end of 2017 the global oil price reaches US $ 70 per barrel for Brent oil.

"This will help Pertamina EP net profit increase," Nanang said.

    Throughout 2017, Pertamina declared oil and gas production of 252 mmboepd or 96% of the target in the company's budget work plan (RKAP). The realization of oil and gas production consists of 77,200 bpd of oil production or 91% of the target and 1,018 mmscfd of gas reaching 98% of RKAP.

    Pertamina EP Asset 2, Pertamina EP's business unit contributes the largest oil and gas. Throughout 2017, Pertamina EP Asset 2 consisting of five fields, Prabumulih, Limau, Adera and Pendopo, contributed 22.5% or 17,394 bph of oil to Pertamina EP. Gas production contributed 42.6% or 433.90 mmscfd.

    In 2017 Pertamina EP issued a capital expenditure of US $ 644 million with operating expenses of US $ 1.17 billion. This year, the company projected capital expenditures of US $ 755 million and operating expenses of approximately US $ 1.27 billion.

IN INDONESIA

Pertamina EP Targetkan Produksi Migas 253,202 MBOEPD  

    PT Pertamina EP anak usaha PT Pertamina (Persero), menargetkan produksi minyak dan gas pada 2018 sebesar 253,202 barel setara minyak (Barrel Oil Equivalent Per Day/BOEPD) atau naik sedikit dari realisasi produksi minyak dan gas 2017 sebesar 253 MMBOEPD. Sementara pendapatan ditargetkan US$ 2,78 miliar atau Iebih besar dari realisasi pada 2017 sebesar US$ 2,76 miliar.

“Kenaikan produksi pada-2018 diharapkan didapat dari beberapa kegiatan pemboran sumur pengembangan dan work over yang sudah dilakukan. Tahun ini akan dilakukan program pemboran 83 sumur pengembangan dan 146 sumur work over,” ujar Presiden Direktur PT Pertamina EP Nanang Abdul Manaf.

    Menurut Nanang, beberapa lapangan yang diharapkan memberikan kontribusi besar adalah lapangan Bunyu di Kalimantan Timur serta beberapa lapangan lain di asset 2 yang selama 2017 memberikan kontribusi besar. Sementara untuk produksi gas diharapkan dari beberapa project yang sudah siap produksi atau on stream.

“Produksi gas 2018, lebih kecil dibandingkan realisasi produksi 2017. Hal ini karena ada planned shut down di Lapangan Subang, Jawa Barat dan Matindok di Banggai, Sulawesi Tengah karena kilang PT Donggi Senoro LNG ada turn around. Namun dari akumulasi produksi migas (minyak dan gas) lebih besar dibandingkan realisasi di 2017,” jelas Nanang.

    Selain beberapa lapangan yang diharapkan memberi kontribusi dalam peningkatan produksi Pertamina EP di 2018, kenaikan produksi didapatkan dari komitmen pelaksanaan penyusunan rencana kerja berdasarkan skala prioritas bersama SKK migas dan PT Pertamina (persero) serta sinergi yang dilakukan dengan anak perusahaan lain.

    Dengan kenaikan target produksi, pendapatan juga akan ikut naik. Selain itu kenaikan pendapatan diproyeksikan dengan harga minyak yang masih akan terus membaik atau setidaknya masih sama seperti akhir 2017.

“Yang terpenting juga untuk bisa meningkatkan pendapatan adalah pelaksanaan program sesuai target waktu, anggaran dan kualitas berdasarkan skala prioritas dan efisiensi,” katanya.

    Pada bagian lain, Nanang menjelaskan soal peningkatan cadangan migas. Tahun ini Pertamina EP merencanakan pemboran proving up sebanyak 23 sumur dari asset 1 sampai asset 5. Kegiatan lain yang dilakukan yakni pembuatan plan of Develeopment (POD) dari struktur temuan baru eksplorasi seperti seperti sumur Karang Makmur dan Benggala kemudian aktivitas pembuatan POFD di sumur Betung, Semberah, North Mahakam Phase 2, Kenali Asam dan Belimbing. Ada juga kegiatan reassessment pemutakhiran data di struktur Musi Barat.

“Total semua upaya yang dilakukan tersebut sebesar 55.59 MMBOE. Dan per 1 Januari 2018, total cadangan migas yang dimiliki Pertamina EP sebesar 1.940,15 MMBOE,” ujarnya.

    Nanang menyebutkan, sepanjang 2017 perseroan mencatatkan laba bersih sebesar US$ 615 juta, naik 4,4% dibandingkan laba bersih 2016 yang tercatat US$ 589 juta, Kenaikan laba bersih tersebut ditopang oleh peningkatan pendapatan usaha dari US$ 2,49 miliar pada 2016 menjadi US$ 2,76 miliar pada 2017.

    Pendorong peningkatan laba bersih juga berasal dari stok minyak yang dikeluarkan (dijual) tahun lalu sehingga lifting mencapai 77.900 barel per hari, lebih tinggi dari produksi rata-rata sepanjang 2017 sebesar,77.200 bph. Kenaikan laba juga ditopang oleh harga minyak mentah global yang membaik pada akhir tahun lalu. Apalagi, mulai akhir 2017 harga minyak global mencapai US$ 70 per barel untuk minyak Brent.

“Ini membantu kenaikan laba bersih Pertamina EP” ujar Nanang.

    Sepanjang 2017, Pertamina mencatakan produksi migas sebesar 252 mmboepd atau 96% dari target dalam rencana kerja anggaran perusahaan (RKAP). Realisasi produksi migas tersebut terdiri atas 77.200 bph produksi minyak atau 91% dari target dan 1.018 mmscfd gas yang mencapai 98% dari RKAP.

    Pertamina EP Asset 2, unit bisnis Pertamina EP memberi kontribusi migas terbesar. Sepanjang 2017, Pertamina EP Asset 2 yang terdiri atas lima lapangan, yaitu Prabumulih, Limau, Adera, dan Pendopo, memberikan kontribusi minyak bagi Pertamina EP sebesar 22,5% atau 17.394 bph. Sedangkan produksi gas memberi kontribusi 42,6% atau sebesar 433,90 mmscfd.

    Pada 2017 Pertamina EP mengeluarkan belanja modal sebesar US$ 644 juta dengan biaya operasi sebesar US$ 1,17 miliar. Tahun ini, perseroan memproyeksikan belanja modal US$ 755 juta dan biaya operasi sekitar US$ 1,27 miliar.

Investor Daily, Page-9, Friday, Feb 2, 2018