ExxonMobil Acquisition Wait for Gas Price

Tiung Biru Jambaran Field

The share transfer transaction of Jambaran-Tiung Biru Field participation, Cepu Block between PT Pertamina EP Cepu and ExxonMobil Cepu Limited is still waiting for the gas sale price agreement to be purchased by PT Perusahaan Listrik Negara. Upstream Director of PT Pertamina Syamsu Alam said most of the gas produced from Jambaran-Tiung Bim will be purchased by PLN.

Pricing will affect the economics of the development of the oil and gas field. After the gas price is agreed, talk of participating interest transactions (Pl) can be continued with ExxonMobil.

PT Pertamina EP Cepu, a subsidiary of PT Pertamina, targets in May 2017 to acquire 90 percent stake in the Jambaran-Tiung Biru Gas Field with the completion of negotiations with ExxonMobil Cepu Limited.

On the project, PT Pertamina EP Cepu (PEPC) acts as operator and controls 45% participation stake. Meanwhile, in Cepu Block, ExxonMobil Cepu Limited becomes an operator with 45% PEPC share ownership, ExxonMobil Cepu Limited 45% and local BUMD 10%.

Based on a letter from the Minister of Energy and Mineral Resources No. 9/13 / MEM / 2017 on January 3, 2017, the government commissioned the company to develop fully the Blue Jambaran Iungangan which is part of Cepu Block and Pertamina EP work area.

In relation to gas prices, it may not refer to Minister of Energy and Mineral Resources Regulation no. 11/2017 regarding the gas pipeline price limits that PLN can tolerate. Referring to the beleid, the highest gas selling price at the mouth of the well for direct appointment of 8% of the Indonesian crude price (ICP). Meanwhile, if not at the well mouth 11.5% of ICP.

He considered it will conduct a discussion first. In addition, he hopes that the agreed price can make the development of the field in accordance with economies of scale although not in accordance with the calculation of prices in the beleid. Based on the Head of Agreement (HoA) signed in 2015, Pertamina becomes the main buyer of gas with volume of 100 million cubic feet per day (MMscfd) and PT Pupuk Kujang Cikampek as an alternative buyer which absorbs 85 MMscfd

In the agreement, there is a clause that says Pertamina will become an alternative buyer if PT Pupuk Kujang Cikampek does not agree on the price of gas set. Later, the gas will be channeled to the PLN and channeled to the gas pipeline Gresik-Semarang.

REQUEST PLN

President Director of PT Pertamina EP Cepu Adriansyah said PLN wants the maximum selling price of US $ 7 per MMBtu. However, the price of USS7 per MMBtu has not included the components of the cost of delivering gas that can touch US $ 8.5 MMBtu. Since HoA was signed it has been agreed that the selling price of gas Jambaran-Tiung Biru is US $ 7 per MMBtu with a 2% escalation per year since 2012 so that the project can be developed.

On the other hand, if prices still want to be pressed, discussions can still be made to lower the cost of gas transportation. "Through the PLN I know they [PLN] said he could take US $ 7 [per MMBtu]. Meanwhile, from us is US $ 7 and there is toll fee. So about US $ 8.5. If PLN can afford US $ 7, okay. It means we can talk about toll fees. "

Vice President of Public and Government Affairs of Exxon-Mobil Indonesia Erwin Maryoto said it was still holding discussions. He called the two parties committed to the process of transferring shares of participation does not affect the process of project work is not disturbed. The reason, the field is targeted to start producing its first gas in 2020. "Still the discussion, we preparation to keep going, commercial problems also began, so parallel.

IN INDONESIAN

Akuisisi ExxonMobil Tunggu Harga Gas

Transaksi pengalihan saham partisipasi Lapangan Jambaran-Tiung Biru, Blok Cepu antara PT Pertamina EP Cepu dan ExxonMobil Cepu Limited masih menunggu kesepakatan harga jual gas yang akan dibeli oleh PT Perusahaan Listrik Negara. Direktur Hulu PT Pertamina Syamsu Alam mengatakan sebagian besar gas yang dihasilkan dari Jambaran-Tiung Bim akan di beli PLN.

Penetapan harga akan berpengaruh terhadap keekonomian pengembangan lapangan minyak dan gas bumi tersebut. Setelah harga gas disepakati, pembicaraan tentang transaksi pengalihan saham partisipasi (participating interest/Pl) bisa dilanjutkan dengan ExxonMobil. 

PT Pertamina EP Cepu, anak usaha PT Pertamina menargetkan pada Mei 2017 bisa menguasai 90% saham partisipasi Lapangan Gas Jambaran-Tiung Biru dengan selesainya negosiasi dengan ExxonMobil Cepu Limited.

Pada proyek tersebut, PT Pertamina EP Cepu (PEPC) berperan sebagai operator dan menguasai saham partisipasi 45%. Sementara itu, pada Blok Cepu, ExxonMobil Cepu Limited menjadi operator dengan komposisi kepemilikan saham PEPC 45 %, ExxonMobil Cepu Limited 45%, dan BUMD setempat 10%.

Berdasarkan surat dari Menteri ESDM No. 9/ 13/MEM/2017 pada 3 Januari 2017, pemerintah menugaskan perseroan untuk mengembangkan secara penuh Iapangan Jambaran-Tiung Biru yang merupakan bagian antara Blok Cepu dan wilayah kerja milik Pertamina EP.

Terkait dengan harga gas, bisa saja tidak mengacu pada Peraturan Menteri ESDM No. 11/2017 mengenai batas harga gas pipa yang bisa ditoleransi PLN. Mengacu pada beleid tersebut, harga jual gas tertinggi di mulut sumur untuk penunjukan langsung 8% dari harga minyak mentah Indonesia (Indonesian crude price/ ICP). Sementara itu, bila tidak berada di mulut sumur 11.5% dari ICP. 

Dia menilai, pihaknya akan melakukan diskusi terlebih dahulu. Selain itu, dia berharap agar harga yang disepakati bisa membuat pengembangan lapangan sesuai dengan skala ekonomi meskipun tidak sesuai dengan perhitungan harga dalam beleid tersebut. Berdasarkan Head of Agreement (HoA) yang diteken pada 2015,  Pertamina menjadi pembeli utama gas dengan volume 100 juta kaki kubik per hari (MMscfd) dan PT Pupuk Kujang Cikampek sebagai pembeli alternatif yang menyerap 85 MMscfd

Pada perjanjian itu, terdapat klausul yang menyebut Pertamina akan menjadi pembeli alternatif bila PT Pupuk Kujang Cikampek tidak bersepakat soal harga gas yang ditetapkan. Nantinya, gas akan disalurkan ke PLN dan disalurkan ke jaringan pipa gas Gresik-Semarang.

PERMINTAAN PLN

Presiden Direktur PT Pertamina EP Cepu Adriansyah mengatakan, PLN menginginkan agar harga jual gas maksimum US$7 per MMBtu. Namun, harga USS7 per MMBtu belum memasukkan komponen biaya penghantaran gas yang bisa menyentuh US$8,5 MMBtu. Sejak HoA diteken telah disepakati bahwa harga jual gas Jambaran-Tiung Biru sebesar US$7 per MMBtu dengan eskalasi 2 % per tahun sejak 2012 agar proyek bisa dikembangkan.

Di sisi lain, bila harga masih ingin ditekan, diskusi masih bisa dilakukan untuk menurunkan biaya transportasi gas. “Melalui PLN yang saya tahu mereka [PLN] katanya sanggup ambil US$7 [per MMBtu). Sementara itu, dari kita sudah US$ 7 dan ada toll fee. Jadi kira-kira US$8.5. Kalau PLN sanggup US$7, oke. Artinya toll fee kita bisa bicarakan.”

Vice President Public and Government Affairs Exxon-Mobil Indonesia Erwin Maryoto mengatakan, pihaknya masih melakukan diskusi. Dia menyebut kedua pihak berkomitmen agar proses pengalihan saham partisipasi ini tidak berpengaruh terhadap proses pengerjaan proyek tidak terganggu. Pasalnya, lapangan itu ditargetkan mulai memproduksi gas pertamanya pada 2020. “Masih diskusi, kita persiapan tetap berjalan, masalah komersial juga dimulai, jadi paralel. 

Bisnis Indonesia, Page-30, Friday, May 19,2017

Republic of Indonesia Received Rp 7.86 T from 6 Contract Sale and Purchase Gas

All gas under the agreement will be used to meet domestic needs from support Industry to household.

A total of six Gas Purchase Agreements (PJBG) signed in the 2018 Indonesian Petroleum Association (IPA). From the agreement, the state has the potential to receive revenues of approximately US $ 5 billion or approximately Rp 7.8 trillion over the contract period.

According to Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi, Six PJBG consists of four new agreements and two amendments of existing agreements. One of the new agreements is PJBG liquefied natural gas (LNG), between Tangguh PSC contractor parties (BP Tangguh) and PT PLN (Persero). Under the agreement, BP and other Tangguh Contract Cooperation Contractors (KKKS) agreed to supply an additional 16 LNG cargoes per year to PLN.

LNG supply shipments start from 2020 to 2035 with the Delivery Ex Ship (DES) LNG delivery scheme. The supply is multidestination so PLN can use for power plants in Indonesia.

"We hope that the allocation of LNG supply can be fully absorbed by PLN so as to support the government's Nawacita program to provide sufficient electricity and increase the national electrification ratio," Amien said on the sidelines of The 41 Indonesian Petroleum Association Convention and Exhibition (IPA Convex) 5).

He added that all gas in the deal will be used to meet domestic needs. From supporting the needs of the electricity, industry, oil lifting, and household gas sectors.

Based on the record of SKK Migas, gas supply for domestic needs continues to increase. In the 2003-2016 period, domestic gas supply increased by an average of 9% per year. As per February 2017, the realization of domestic gas supply has reached 58.5% of the total gas supply. That is, the supply of gas for domestic already greater than the export /

Gas supply

At a similar event, PT Perusahaan Gas Negara Tbk (PGN) signed a gas sales and purchase agreement (GSPA) with Conocophillips (Grissik) Ltd. Gas supply will be channeled by PGN to Dumai, Sumatra. The signing of PJBG was made by PGN President Director Joko Triananda Hasjim with President & General Manager of ConocoPhillips (Grissik) Agarwal, at IPA Convex 2017, yesterday

"The signing is a form of government support and upstream industry to PGN to continue expanding the utilization of natural gas in an efficient and environmentally friendly in the country," said Jobi.

Under the agreement, ConocoPhillips will supply gas of 37 BBtud (billion british thermal units per day). Gas supply flows in 2018-2023 Jobi added that gas production from ConocoPhillips will be forwarded to the community through PGN gas distribution pipeline in Dumai.

Currently PGN is completing the construction of the Duri gas distribution pipeline project for 137 kilometers. The project is expected to be completed by 2018

IN INDONESIAN

RI Raih Rp 7,86 T dari 6Kontrak Jual Beli Gas

Semua gas dalam kesepakatan tersebut akan digunakan untuk memenuhi kebutuhan domestik dari menyokong

industri hingga rumah tangga.

Sebanyak enam Perjanjian Jual Beli Gas bumi (PJBG) ditandatangani dalam perhelatan Indonesian Petroleum Association (IPA) 2017. Dari kesepakatan itu, negara berpotensi memperoleh penerimaan sekitar US$5 miliar atau sekitar atau sekitar Rp 7,8 triliun sepanjang periode kontrak. 

Menurut Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Amien Sunaryadi, Enam PJBG terdiri atas empat kesepakatan baru dan dua amendemen dari kesepakatan yang sudah ada. Salah satu dari kesepakatan baru tersebut ialah PJBG liquefied natural gas (LNG), antara Tangguh PSC contractor parties (BP Tangguh) dengan PT PLN (persero). Dalam kesepakatan tersebut, BP beserta Kontraktor Kontrak Kerja Sama (KKKS) Tangguh lainnya sepakat untuk memasok tambahan 16 kargo LNG per tahun untuk PLN. 

Pengiriman pasokan LNG dimulai tahun 2020 sampai 2035 dengan skema pengiriman LNG Delivery Ex Ship (DES). Pasokan tersebut bersifat multidestinasi sehingga PLN dapat menggunakan untuk kebutuhan pembangkit di Indonesia.

“Kami berharap alokasi pasokan LNG itu dapat diserap sepenuhnya oleh PLN sehingga mendukung program Nawacita pemerintah untuk menyediakan listrik yang cukup serta meningkatkan rasio elektrifikasi nasional,” ujar Amien di sela The 41 Indonesian Petroleum Association Convention  and Exhibition (IPA Convex), Rabu (17/5).

Dia menambahkan, semua gas dalam kesepakatan tersebut akan digunakan untuk memenuhi kebutuhan domestik. Dari menyokong kebutuhan sektor kelistrikan, industri, lifting minyak, dan gas rumah tangga.

Berdasarkan catatan SKK Migas, pasokan gas untuk kebutuhan domestik terus meningkat. Dalam periode 2003-2016, pasokan gas untuk domestik meningkat rata-rata 9% per tahun. Per Pebruari 2017, realisasi pasokan gas untuk domestik sudah mencapai 58,5% dari total pasokan gas. Artinya, pasokan gas untuk domestik sudah lebih besar dari ekspor/

Pasokan gas

Pada acara serupa, PT Perusahaan Gas Negara Tbk (PGN) menandatangani perjanjian jual bell gas (PJBG) atau gas sales and purchase agreement (GSPA) dengan Conocophillips (Grissik) Ltd. Pasokan gas akan dialirkan PGN ke wilayah Dumai, Sumatra. Penandatangan PJBG dilakukan Direktur Utama PGN Jobi Triananda Hasjim dengan President & General Manager ConocoPhillips (Grissik) Bajian Agarwal, di IPA Convex 2017, kemarin

“Penandatanganan ini merupakan bentuk dukungan pemerintah dan industri hulu kepada PGN untuk terus memperluas pemanfaatan gas bumi yang efisien dan ramah lingkungan di dalam negeri,” kata Jobi. 

Dalam perjanjian itu, ConocoPhillips akan memasok gas sebesar 37 BBtud (billion british thermal units per day). Pasokan gas mengalir pada 2018-2023 Jobi menambahkan, produksi gas dari ConocoPhillips akan diteruskan PGN ke masyarakat melalui jaringan pipa distribusi gas di wilayah Dumai.

Saat ini PGN sedang menyelesaikan pengerjaan proyek pipa gas distribusi Duri sepanjang 137 kilometer. Proyek itu diperkirakan selesai pada 2018

Media Indonesia, Page-18, Thursday, May 18, 2017

Oil and Gas Contractor Requests Revenue Sharing

Minister of Energy asks SKK Migas to work faster.

The Indonesian Petroleum Association (IPA) Upstream Contractors Association asked the government to clarify the profit-sharing scheme after the implementation of the gross split or gross profit sharing scheme. According to IPA President Christina Verchere, the gross split scheme can not be applied to all oil and gas blocks.

The Indonesian Petroleum Association (IPA) President

Christina Verchere

"There should be talks on certain projects, as well as on projects that are doing well," he said at the opening of IPA Convention and Exhibition (IPA Convex) 2017 at the Jakarta Convention Center.

According to Verchere, certainty of profit sharing is an absolute requirement for upstream oil and gas contractors to decide on an investment plan. Without a favorable share, contractors find it difficult to expand exploration and drilling, especially for new wells.

Verchere said today the price of oil is difficult to return beyond US $ 100 per barrel, as at the end of 2014, due to excess supply. Therefore, contractors are forced to perform cost-efficiency operations. However, the efforts of the contractor should be supported by the government through bureaucratic reform.

Wood Mackenzie's Asia-Pacific Upstream Oil and Gas Research Director, Andrew Harwood, said the new profit-sharing system is a consideration for contractors to continue investing and activities in Indonesia, particularly exploration. Based on the review of Wood Mackenzie, the discovery of oil and gas reserves will be difficult to walk with the gross profit because the contractor has to wait long to make a profit.

As for the productive oil and gas field, the new system can benefit the contractor as long as its operating costs are efficient. Harwood added, the value of profit-sharing is not a problem as long as investors are given comfort to do business.

Energy and Mineral Resources Minister Ignasius Jonan said the gross split scheme should be implemented so that the upstream oil and gas business is more efficient. Currently, the portion of energy use from petroleum is decreasing due to increased electricity consumption and renewable energy. Without the use of cost-friendly technology, oil and gas companies will not grow.

He also requested the Special Unit for Upstream Oil and Gas Operations (SKK Migas) to work more quickly to assist the company's operations. This industry is not just SKK Migas, the trend is always late.

The regulation of gross split is regulated in Minister of Energy Regulation No. 8 of 2017. Oil sharing between countries and contractors reaches 57 percent and 43 percent. As for gas, the state part of 52 percent and contractors got 48 percent. This figure is lower than the conventional revenue-sharing contract, with the state oil section reaching 85 percent and 65 percent gas.

Sections for contractors can grow to a maximum of 5 percent if the development of the field is not economical. However, if production is abundant and prices exceed US $ 85 per barrel, the state gets additional oil and gas output of 5 percent. A total of six natural gas sales contracts were signed in the opening of Convex 2017 IPA. 

    SKK Migas head Amien Sunaryadi said the deal is expected to contribute an additional US $ 5 billion in state revenues during the contract period. All gas under the agreement will be used to meet domestic needs.

IN INDONESIAN

Kontraktor Migas Minta Kepastian Bagi Hasil

Menteri Energi meminta SKK Migas bekerja lebih cepat.

Asosiasi Kontraktor Hulu Minyak dan Gas Bumi Indonesia (Indonesia Petroleum Association/IPA) meminta pemerintah memperjelas skema bagi hasil setelah penerapan skema gross split atau bagi hasil kotor. Menurut Presiden IPA, Christina Verchere, skema gross split tidak bisa diterapkan kepada semua blok migas.

“Harus ada pembicaraan pada proyek-proyek tertentu, juga terhadap proyek yang sedang berjiaian," kata dia dalam pembukaan IPA Convention and Exhibition (IPA Convex) 2017 di Jakarta Convention Center.

Menurut Verchere, kepastian bagi hasil menjadi syarat mutlak bagi kontraktor hulu migas untuk memutuskan rencana penanaman modal. Tanpa bagian yang menguntungkan, kontraktor sulit untuk memperluas eksplorasi dan pengeboran, terutama untuk sumur-smnur baru.

Verchere mengatakan saat ini harga minyak sulit kembali melampaui US$ 100 per barel, seperti pada akhir 2014, karena pasokan yang berlebih. Karena itu, kontraktor terpaksa melakukan efisiensi biaya operasi. Namun, upaya kontraktor tersebut harus didukung oleh pemerintah melalui reformasi birokrasi.

Research Director  Asia-Pacific Upstream Oil and Gas dari Wood Mackenzie, Andrew Harwood, mengemukakan sistem bagi hasil baru menjadi pertimbangan bagi kontraktor untuk melanjutkan investasi dan aktivitasnya di Indonesia, khususnya eksplorasi. Berdasarkan kajian Wood Mackenzie, penemuan cadangan migas akan sulit berjalan dengan bagi hasil kotor karena kontraktor harus menunggu lama supaya untung. 

Adapun bagi lapangan migas produktif, sistem baru bisa menguntungkan kontraktor selama biaya operasinya efisien. Harwood menambahkan, nilai bagi hasil bukanlah masalah selama investor diberikan kenyamanan untuk berbisnis.

Menteri Energi dan Sumber Daya Mineral Ignasius Jonan mengatakan skema gross split harus diterapkan supaya bisnis hulu migas lebih efisien. Saat ini, porsi penggunaan energi dari minyak bumi semakin berkurang karena peningkatan pemakaian listrik dan energi terbarukan. Tanpa pemakaian teknologi ramah biaya, perusahaan migas tdak akan berkembang.

Dia juga meminta Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Migas (SKK Migas) bekerja lebih cepat mendampingi operasi perusahaan. Industri ini bukan cuma SKK Migas, tren-nya selalu telat.

Regulasi gross split diatur dalam Peraturan Menteri Energi Nomor 8 Tahun 2017. Bagi hasil minyak antara negara dan kontraktor mencapai 57 persen dan 43 persen. Sedangkan untuk gas, bagian negara sebesar 52 persen dan kontraktor mendapat 48 persen. Angka ini menurun dibanding kontrak bagi hasil konvensional, dengan bagian minyak pemerintah mencapai 85 persen dan gas sebanyak 65 persen. 

Bagian untuk kontraktor bisa bertambah maksimal 5 persen jika pengembangan lapangan tidak ekonomis. Namun, jika produksi melimpah dan harga melampaui US$ 85 per barel, negara mendapat tambahan hasil migas sebesar 5 persen. Sebanyak enam kontrak jual-beli gas bumi ditandatangani dalam pembukaan IPA Convex 2017. 

     Kepala SKK Migas, Amien Sunaryadi, mengatakan kesepakatan ini diperkirakan akan menyumbang tambahan penerimaan negara US$ 5 miliar selama periode kontrak. Semua gas dalam kesepakatan tersebut akan digunakan untuk memenuhi kebutuhan domestik.

Koran Tempo, Page-21, Thursday, May 18, 2017

Java Gas Gas Supply 1 Agreed

BP will supply 16 cargoes of LNG per year

Tangguh gas refinery manager, BP Berau Ltd., agrees to buy and sell liquefied natural gas with PT PLN to meet the needs of Java 1 gas steam power plant in Cibatu Baru, West Java. Gas supply will start in 2020 until 2025.

"We hope that the gas can be fully absorbed by PLN to provide sufficient electricity and increase the national electrification ratio," said Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas), Amien Sunaryadi, at the signing of a contract in Jakarta.

The plan, LNG gas channeled BP as much as 16 cargoes per year. This agreement is the second for PLN with BR after the first agreement signed in April 2016. At that time, the British contractor agreed to sell 44 LNG cargo per year, starting from 2020 until 2033.

Both parties agreed on 11.2 percent gas price from Indonesia crude price index per million metric British thermal unit (MMBTU). The transport cost of 0.4 percent. Director of Procurement PLN Supangkat Iwan Santoso claims that this price is the cheapest for LNG size. He compared the price of LNG from PT Nusantara Regas sent to the Steam Power Plant of Muara Karang and Muara Tawar by 11.25 percent ICP per MMBTU plus 0.7 percent transport cost.

The price calculation refers to the new gas procurement regulation released by Energy and Mineral Resources Minister Ignatius Jonan at the beginning of last year. The developer of PLTGU Java 1, is PT Java Satu Power, owned by PT Pertamina-Marubeni-Sojitz consortium.

The operation will begin in 2020 with a 1,760 megawatt power generation capacity. In addition to the Java 1 gas contract, there are three other gas contracts signed for power generation. All three are gas supply by Energi Mega Persada (EMP) Bentu Limited to Regional Company of Tuah Sekata (amendment), Petrogas Basin to PT Malamoi Olom Wobok (amendment), and PetroChina International Jabung Limited to Gemilang Jabung Energi.

The gas supply for industrial and household needs consists of ConocoPhillips contract to PT PGN Tbk amounting to 37 billion British thermal units per day (BBTUD). Gas comes from Grissik, South Sumatra, for industries in Dumai and Pekan Baru, Riau, from 2018 to 2022. Then there is EMP Bentu that supplies gas to PT Pertamina in Pekanbaru.

IN INDONESIAN

Pasokan Gas Pembangkit Jawa 1 Disepakati

BP akan memasok LNG sebanyak 16 kargo per tahun

Pengelola kilang gas Tangguh, BP Berau Ltd, menyepakati perjanjian jual-beli gas alam cair dengan PT PLN untuk memenuhi kebutuhan pembangkit listrik tenaga gas uap Jawa 1 di Cibatu Baru, Jawa Barat. Suplai gas akan dimulai pada 2020 hingga 2025. 

“Kami berharap gas tersebut dapat diserap sepenuhnya oleh PLN untuk menyediakan listrik yang cukup serta meningkatkan rasio elektrifikasi nasional,” ujar Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), Amien Sunaryadi, saat penandatanganan kontrak di Jakarta.

Rencananya, gas LNG disalurkan BP sebanyak 16 kargo per tahun. Akad ini adalah yang kedua bagi PLN dengan BR setelah perjanjian pertama diteken pada April 2016. Saat itu, kontraktor asal Inggris tersebut sepakat menjual 44 kargo LNG per tahun, mulai 2020 hingga 2033. 

Kedua pihak menyepakati harga gas sebesar 11,2 persen dari indeks minyak mentah Indonesia (Indonesia crude price) per million metric British thermal unit (MMBTU). Adapun biaya angkut sebesar 0,4 persen. Direktur Pengadaan PLN Supangkat Iwan Santoso mengklaim harga ini merupakan yang termurah untuk ukuran LNG. Dia membandingkan harga LNG dari PT Nusantara Regas yang dikirimkan ke Pernbangkit Listrik Tenaga Gas Uap Muara Karang dan Muara Tawar sebesar 11,25 persen ICP per MMBTU plus biaya angkut 0,7 persen. 

Perhitungan harga mengacu pada regulasi baru pengadaan gas yang dirilis Menteri Energi dan Sumber Daya Mineral Ignasius Jonan pada awal tahun lalu. Pengembang PLTGU Jawa 1, adalah PT Jawa Satu Power, milik konsorsium PT Pertamina-Marubeni-Sojitz.

Operasi akan dimulai pada 2020 dengan kapasitas pembangkitan listrik 1.760 megawatt. Selain kontrak gas Jawa 1, ada tiga kontrak gas lain yang diteken untuk kebutuhan pembangkitan listrik. Ketiganya adalah suplai gas oleh Energi Mega Persada (EMP) Bentu Limited kepada Perusahaan Daerah Tuah Sekata (amendemen), Petrogas Basin ke PT Malamoi Olom Wobok (amendemen), dan PetroChina International Jabung Limited ke Gemilang Jabung Energi.

Pasokan gas untuk kebutuhan industri dan rumah tangga terdiri atas kontrak ConocoPhillips kepada PT PGN Tbk sebesar 37 billion British thermal unit per day (BBTUD). Gas berasal dari Grissik, Sumatera Selatan, untuk industri di wilayah Dumai dan Pekan Baru, Riau, mulai 2018 hingga 2022. Kemudian ada EMP Bentu yang memasok gas ke PT Pertamina di Pekanbaru.

Koran Tempo, Page-20, Thursday, May 18, 2017

Pertamina cautious about taking over terminated projects

While state-owned oil and gas firm Pertamina may be moving a few steps forward on some large projects, it has to maintain a wait and see stance on several others, due to a stream of new regulations issued by the government.

Since Jan. 18, PT Pertamina Hulu Energi (PHE) has been operating the Offshore Northwest Java (ONWJ) oil and gas field under the gross-split scheme in a follow-up contract for a 20-year period. Furthermore, the government has mandated the Pertamina subsidiary to take over eight other fields under the newly implemented scheme, after the contracts for those fields had been terminated. However, Pertamina wants to hold off the signing of the remaining production sharing contracts (PSCS) to first review the operations and costs of the ONWJ field.

PHE president director R. Gunung Sardjono Hadi said the firm had conducted several simulations to see if it was feasible to operate the fields under the new scheme but with a similar net present value to the previous one.

“It’s safe to say that the past three to four months have not been enough to clearly conclude that there are significant differences,” he said on the sidelines of the 41” Indonesian Petroleum Association exhibition and convention on Wednesday.

While the company had conducted some simulations, Hadi further explained, it would need to go through a whole year of operation for a proper review. ‘At the end of the day, we will be able to properly compare the cost recovery and gross-split schemes,” he said. 

The new PSC scheme was introduced earlier this year, with the government hoping it will eventually phase out the current PSC system, which reimburses contractors for exploration and exploitation expenses through what is dubbed “cost recovery.” Under the new gross-split scheme, the profit split between the government and contractors will differ depending on several variables, including global oil prices and the stage of production. 

While the government has touted the new scheme as a win-win solution for all stakeholders, especially in terms of efficiency, many are unsure. Even PHE has officially filed complaints with the government, saying the scheme was too costly for ONWJ, especially since it did not include exploration in the calculation of costs.

The scheme also contained ambiguity over the fate of unrecovered costs carried over from previous contracts. Responding to this, the government has agreed to grant PHE an undisclosed higher profit share and issued a new ministerial decree on unrecovered costs. The new decree stipulates that if a contractor decides to extend a contract under the gross-split scheme, the unrecovered costs of the previous PSC will be included in the profit split.

Pertamina upstream director Syamsu Alam confirmed that the company was in no rush to sign the new contracts, as there was still a lack of clarity on several issues. While the fate of the eight new contracts remain unclear, Pertamina seems to be making better strides in the Mahakam field, which it will officially take over from French oil and gas giant Total E&P Indonesie

(TEPI) and Japan’s Inpex. 

Syamsu confirmed that its subsidiary PT Pertamina Hulu Mahakam (PHM) would drill 14 wells next month to prevent a drop in production that typically occurs during the transition period. “We will invest around US$160 million,” he said.

TEPI expects to generate 1,430 million standard cubic feet of gas per day (mmscfd) and 53,000 barrels of oil per day (bopd) from the Mahakam block this year. Pertamina, on the other hand, aims to produce a total of 690,000 barrels of oil equivalent (boe) by the end of this year, up from 650,000 boe last year.

Jakarta Post, Page-15, Thursday, May 18, 2017

Chevron Still Working on Project Review IDD

Chevron Indonesia said that it has not submitted a revision of the plan of development (POD) for Indonesia Deepwater Development Project (IDD) in Makassar Strait. The oil and gas company from the United States is still working on the study of the project.

Senior Vice President of Policy, Government, and Public Affair Yanto Sianipar said the work of the IDD Project is divided into two stages. The first phase which includes the development of Bangka Field has been completed and has produced 100 million cubic feet per day (mmscfd) of gas and condensate / 1,000 barrels per day (bph). For the second phase, his side is finalizing the study.

"The second phase for Gendalo and Gehem Field is in the process of being reviewed because there is a new opportunity to create an economical project with oil prices now," he told a media briefing in Jakarta on Tuesday (16/5).

Unfortunately, Yanto did not confirm what new opportunities Chevron found that could change the economy of this IDD Project. He only mentioned this opportunity can be from various aspects, ranging from changes in the size of oil and gas reserves, cost efficiency, usable technology, and the shared use of existing facilities.

Chevron IDD project combines four contracts of cooperation namely Ganal, Rapak, Makassar Strait, and Muara Bakau. In the five concessions there are five fields namely Bangka Field, Gehem, Gendalo, Maha and Gandang. Bangka Field has operated first in August 2016 ago. As for Gendalo and Gehem will operate after Bangka.

Yanto said that he has not been able to detail Chevron's plans to work on IDD Projects, including production volumes and project on-stream targets. The reason, it needs to complete the study first before setting a target. However, he also can not confirm when this study is completed. "Hopefully finish in the near future," he said.

He emphasized that all the plans Chevron declared in the early POD could no longer be used as a reference. In this early POD, Gehem Field is expected to produce 420 mmscfd of gas and 27,000 bpd of oil. While Gendalo Field is projected to produce gas up to 700 mmscfd and 25,000 bpd of oil. Both fields are targeted to start production in 2018. Chevron has actually obtained POD IDD Project in 2008 Ialu.

However, after a detailed design (front end engineering design / FEED), the cost required to work on this project has doubled. Furthermore, Chevron re-submit POD revision by the end of 2015. Unfortunately, this POD is returned by the government because it is incomplete.

POD is what the government is waiting for so the IDD Project can start again. In POD submitted at the end of 2015, the fundamental changes are related to on-stream production and project investment values. Gendalo and Gehem fields are scheduled to begin production in 2022 and 2023 respectively, retreating from the beginning by 2020. While the investment is estimated at around US $ 10 billion. Investment IDD Project was soaring up to US $ 12 billion because of the high price of crude oil at the time

IN INDONESIAN

Chevron Masih Garap Kajian Proyek IDD

Chevron Indonesia mengaku belum menyerahkan revisi rencana pengembangan (plan of development/ POD) untuk Proyek Indonesia Deepwater Development (IDD) di Selat Makassar. Perusahaan migas asal Amerika Serikat ini masih menggarap kajian proyek tersebut.

Senior Vice President Policy, Government, and Public Affair Yanto Sianipar mengatakan, pengerjaan Proyek IDD terbagi dalam dua tahap. Untuk tahap pertama yang mencakup pengembangan Lapangan Bangka, sudah diselesaikan dan telah menghasilkan gas sebesar 100 juta kaki kubik per hari (million standard cnbie feet per day/mmscfd) dan kondensat/1.000 barel per hari (bph). Untuk tahap kedua, pihaknya tengah merampungkan kajiannya.

“Tahap kedua untuk Lapangan Gendalo dan Gehem sedang dalam proses di-review karena ada opportunity baru untuk membuat proyek ekonomis dengan harga minyak sekarang,” kata dia dalam pertemuan dengan media di Jakarta, Selasa (16/5).

Sayangnya, Yanto tidak memastikan peluang baru apa yang ditemukan Chevron yang dapat mengubah keekonomian Proyek IDD ini. Dia hanya menyebut peluang ini bisa dari berbagai aspek, mulai perubahan besaran cadangan migas, efisiensi biaya, teknologi yang dapat dipakai, serta pemanfaatan bersama fasilitas yang ada.

Proyek IDD Chevron ini menggabungkan empat kontrak kerja sama yaitu Ganal, Rapak, Makassar Strait, dan Muara Bakau. Dalam keernpat konsesi tersebut terdapat lima lapangan yaitu Lapangan Bangka, Gehem, Gendalo, Maha dan Gandang. Lapangan Bangka telah beroperasi terlebih dahulu pada Agustus 2016 lalu. Sementara untuk Gendalo dan Gehem akan beroperasi setelah Bangka.

Yanto menyatakan belum dapat merinci rencana Chevron dalam mengerjakan Proyek IDD, termasuk untuk volume produksi dan target operasi (on stream) proyek. Pasalnya, pihaknya perlu merampungkan kajian terlebih dahulu sebelum menetapkan target. Namun, dia juga tidak dapat memastikan kapan kajian ini rampung. “Mudah-mudahan selesai dalam waktu dekat,” ujarnya.

Ditegaskannya, seluruh perencanaan yang dinyatakan Chevron dalam POD awal tidak dapat lagi dijadikan acuan. Dalam POD awal ini, Lapangan Gehem diharapkan bisa menghasilkan gas 420 mmscfd dan minyak 27.000 bph. Sementara Lapangan Gendalo diproyeksi akan menghasilkan gas hingga 700 mmscfd dan minyak 25.000 bph. Kedua lapangan tersebut ditargetkan bisa mulai berproduksi pada 2018. Chevron sebenarnya telah memperoleh POD Proyek IDD pada 2008 Ialu. 

Namun, setelah dilakukan pengerjaan desain rinci (front end engineering design/FEED), biaya yang dibutuhkan untuk menggarap proyek ini naik dua kali Iipat. Selanjutnya, Chevron kembali menyerahkan revisi POD pada akhir 2015. Sayangnya, POD ini dikembalikan oleh pemerintah karena tidak lengkap. 

POD inilah yang kini ditunggu pemerintah sehingga Proyek IDD bisa kembali dimulai. Dalam POD yang diajukan pada akhir 2015, perubahan yang mendasar yakni terkait jadwal produksi (onstream) dan nilai investasi proyek. Lapangan Gendalo dan Gehem dijadwalkan akan mulai produksi masing-masing pada 2022 dan 2023, mundur dari awalnya pada 2020. Sementara investasinya diperkirakan sekitar US$ 10 miliar. Investasi Proyek IDD ini sempat melonjak sampai US$ 12 miliar karena tingginya harga minyak mentah pada saat itu.

Investor Daily, Page-9, Thursday, May 18, 2017

The Government Requests Three Option Locations of Masela LNG Plant

The government wants three options for the construction of the EQU's liquefied natural gas (LNG) project, Masela Block. Previously, the choice of location is only two, namely Aru and Yamdena Island.

The change was made by Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan after a visit to Japan earlier this week. As is known, during the breakfast meeting, Minister Jonan was accompanied by Indonesian Ambassador to Japan Arifin Tasrif and Special Envoy to Japan Rahmat Gobel, met with Toshiaki Kitamura, President and CEO of Inpex.

"Yesterday the deal I do not want two locations, want three. Others will be explained after negotiations, "Minister Jonan said on the sidelines of The 41st IPA Convention and Exhibition in Jakarta, Wednesday (17/5).

He requested that these three location options also be included in the pre-prEED pre-FEED review conducted for the Masela Block.

Vice President of Corporate Services of Inpex Indonesia Nico Muhyiddin confirmed the discourse of the three plant location options. However, it also can not state where the third location of this option. Because Inpex need to discuss this issue in detail with the Government and Special Unit for Upstream Oil and Gas Business Activities (SKK Migas).

"Next week should start the discussion. But today and tomorrow have started to meet to discuss the best how, "he said.

From the results of this discussion, the new party can run the project for sure. The reason, this discussion is also to ensure the Pre-FEED work criteria. Hopefully, next week also has obtained a decision on the detail of the scope of work to be worked on in this Pre-FEED. "Criteria (Pre-FEED) is what, will be determined in the meeting that we will do. The decision is next week, "Nico said.

If there is a decision, it will work on Pre-FEED this semester as well. Previously, the government wanted Pre-FEED to include two locations and two capacities. Inpex must examine two options for the construction of a liquefied natural gas (LNG) refinery, namely Aru and Yamdena Islands.

Furthermore, the study should also be carried out for the LNG plant capacity of 9.5 million tons per year (million ton per annum / MTPA) plus 150 million standard cubic feet per day (mmscfd), and 7.5 MTPA plus 474 mmscfd.

Pre-FEED aims to estimate the investment cost and project schedule. In addition, the capacity and location of the LNG plant, can only be confirmed through Pre-FEED implementation first. The government wants comprehensive and balanced data from the two location and capacity options.

The gas supply of Masela Block is directly channeled through the pipeline because the Ministry of Industry declares buyers from the fertilizer and petrochemical sectors. The sadness of this fertilizer and petrochemical plant will be built close to the mouth of the gas well. The ESDM Ministry will begin discussing who these gas consumers are with the Ministry of Industry once PreFEED begins.

The government had targeted the final investment decision / FID Masela Block can be implemented in 2019. Furthermore, the first gas production of this block is expected to flow in 2026.

At the end of March 2016 Yesterday the government rejected the proposed revision of POD Block Masela proposed by Inpex. In the revised POD it masela with the development of floating LNG plant. Inpex was also asked to re-submit POD with the scheme according to the government's direction. Furthermore, Inpex proposed five clauses to continue the work of the Masela Block.

In detail, the addition of LNG refinery capacity from 7.5 MTPA to 9.5 MTPA, 10-year contract addition, Internal Rate of Return (IRR) of 15%, cost recovery during the exploration period, and government licensing. So far, only a seven-year contract extension has been granted.

IN INDONESIAN

Pemerintah Minta Tiga Opsi Lokasi Kilang LNG Masela

Pemerintah menginginkan adanya tiga pilihan Iokasi untuk pembangunan kilang gas alam cair (liqufied natura/gas/LNG) Proyek Abadi, Blok Masela. Sebelumnya, pilihan Iokasi hanya dua, yakni Pulau Aru dan Yamdena.

Perubahan ini dilontarkan oleh Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan pasca kunjungan ke Jepang pada awal pekan ini. Seperti diketahui, dalam pertemuan breakfast meeting tersebut, Menteri Jonan didampingi Duta Besar Indonesia untuk Jepang Arifin Tasrif dan Utusan Khusus untuk Jepang Rahmat Gobel, bertemu dengan Toshiaki Kitamura, President and CEO Inpex.

“Kemarin kesepakatannya saya tidak mau dua lokasi, maunya tiga. Yang lain lokasinya nanti dijelaskan setelah negosiasi," kata Menteri Jonan di sela The 41st IPA Convention and Exhibition di Jakarta, Rabu (17/5).

Dia meminta opsi tiga lokasi ini juga dimasukkan dalam kajian awal desain rinci (pre front end engineering design /Pre-FEED) yang dilakukan untuk Blok Masela.

Vice President Corporate Services lnpex Indonesia Nico Muhyiddin membenarkan adanya wacana opsi tiga lokasi kilang ini. Namun, pihaknya juga belum dapat menyatakan di mana lokasi ketiga yang menjadi opsi ini. Pasalnya, Inpex perlu membahas masalah ini secara detail dengan Pemerintah dan Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas).

“Seharusnya minggu depan mulainya diskusi. Tapi hari ini dan besok sudah mulai ketemu untuk membicarakan yang terbaik bagaimana,” ujar dia. 

Dari hasil diskusi inilah baru pihaknya dapat menjalankan proyek secara pasti. Pasalnya, diskusi ini juga untuk memastikan kriteria pekerjaan Pre-FEED. Harapannya, pada pekan depan juga sudah diperoleh keputusan mengenai detail lingkup pekerjaan yang harus digarap dalam Pre-FEED ini. “Kriteria (Pre-FEED) itu apa, akan ditentukan dalam meeting yang akan kami lakukan. Keputusannya minggu depan,” kata Nico.  

Jika sudah ada keputusan, pihaknya akan menggarap Pre-FEED pada semester ini juga. Sebelumnya, pemerintah menginginkan Pre-FEED mencakup dua lokasi dan dua kapasitas. Inpex harus mengkaji dua pilihan lokasi pembangunan kilang gas alam cair (liquefied natural gas/ LNG), yakni Pulau Aru dan Yamdena.

Kemudian, kajian juga harus dilaksanakan untuk skema kapasitas kilang LNG 9,5 juta ton per tahun (million ton per annum / MTPA) plus 150 juta kaki kubik per hari (million standard cubic feet per day/ mmscfd), serta 7,5 MTPA plus 474 mmscfd. 

Pre-FEED bertujuan mengestimasikan biaya investasi dan jadwal pengerjaan proyek. Selain itu kapasitas dan lokasi kilang LNG, hanya dapat dipastikan melalui pelaksanaan Pre-FEED terlebih dahulu. Pemerintah menginginkan data yang komprehensif dan seimbang dari dua pilihan lokasi dan kapasitas itu.

Pasokan gas Blok Masela sebagian langsung dialirkan melalui pipa lantaran Kementerian Perindustrian menyatakan adanya pembeli dari sektor pupuk dan petrokimia. Sedihnya pabrik pupuk dan petrokimia ini akan dibangun dekat dengan mulut sumur gas. Kementerian ESDM akan mulai membahas siapa konsumen gas ini dengan Kementerian Perindustrian begitu PreFEED dimulai.

Pemerintah sempat menargetkan agar keputusan investasi akhir/FID Blok Masela dapat dilaksanakan pada 2019. Selanjutnya, produksi gas pertama blok ini diharapkan dapat mengalir pada 2026.

Pada akhir Maret 2016 kemarin pemerintah menolak usulan revisi POD Blok Masela yang diajukan Inpex. Dalam revisi POD itu masela dengan pengembangan kilang LNG terapung. Inpex pun diminta mengajukan kembali POD dengan skema sesuai arahan pemerintah. Selanjutnya, Inpex mengajukan lima klausul untuk melanjukan pengerjaan Blok Masela. 

Rincinya, penambahan kapasitas kilang LNG dari 7,5 MTPA menjadi 9,5 MTPA, penambahan kontrak selama 10 tahun, tingkat pengembalian modal (Internal Rate of Return/IRR) sebesar 15%, cost recovery selama masa eksplorasi, dan perizinan dari pemerintah. Sejauh ini, baru perpanjangan kontrak yang diberikan, yakni 7 tahun.

Investor Daily, Page-9, Thursday, May 18, 2017

PGN Obtains Gas Supply from ConocoPhillips

PT Perusahaan Gas Negara Tbk (PGN) signed a Gas Sales and Purchase Agreement (GSPA) with Conocophillips (Grissik) Ltd. Gas supply will be channeled by PGN to Dumai, Sumatera.

The signing of PJBG was made by PGN President Director Jobi Triananda Hasjim with President & General Manager of ConocoPhillips (Grissik) Agarwal Bajian, on the sidelines of The 41 Indonesian Petrolenm Association Convention and Exhibition, Jakarta Convention Center UGC), Wednesday (17/5).

"This signing is a form of government support and upstream industry to PGN to continue expanding the utilization of natural gas efficiently and environmentally friendly in the country," said Jobi. Under the agreement, ConocoPhillips will supply gas at 37 BBtud (Billion British thermal units per day). Gas supply flows in 2018-2023.

Jobi added that gas production from ConocoPhillips will be forwarded to PGN community through a gas distribution pipeline network in Dumai. Currently PGN is completing the Dumai distribution pipeline project for 137 kilometers. The project is expected to be completed by 2018.

In addition to the distribution pipeline project, PGN is also working on a 67 km Duri-Dumai transmission pipeline project. This transmission pipeline project is done jointly with PT Pertamina based on government assignments. "Besides Duri-Dumai, PGN is developing gas pipeline infrastructure in Riau, West Java, East Java and several other areas," said Jobi.

As is known, PGN has now built and operated more than 7,200 km of natural gas pipelines. This is equivalent to 80% of downstream gas pipelines throughout Indonesia.

Of the natural gas infrastructure, PGN distributes natural gas directly to domestic customers reaching 168,973 customers, with more than 165,392 household customers, 1,929 MSMEs, commercial customers, hotels, hospitals, restaurants, restaurants, and 1,652 manufacturing industries Large-scale and power plants.

PGN also operates 2 units of Floating Storage Regasification Units (FSRU), 11 Gas Fuel Filling Stations (SPBG) and 4 Mobile Refueling Units (MRU).

IN INDONESIAN

PGN Peroleh Pasokan Gas dari ConocoPhillips

PT Perusahaan Gas Negara Tbk (PGN) menandatangani Perjanjian jual Beli Gas (PJBG) atau Gas Sales and Purchase Agreement (GSPA) dengan Conocophillips (Grissik) Ltd. Pasokan gas akan dialirkan PGN ke wilayah Dumai, Sumatera.

Penandatangan PJBG dilakukan Direktur Utama PGN Jobi Triananda Hasjim dengan President & General Manager ConocoPhillips (Grissik) Bajian Agarwal, di sela acara The 41 Indonesian Petrolenm Association Convention and Exhibition, Jakarta Convention Center UGC), Rabu (17/ 5).

“Penandatangan ini merupakan bentuk dukungan pemerintah dan industri hulu kepada PGN untuk terus memperluas pemanfaatan gas bumi yang efisien dan ramah lingkungan di dalam negeri,” kata Jobi. Dalam perjanjian tersebut, ConocoPhillips akan memasok gas sebesar 37 BBtud (Billion British thermal units per day). Pasokan gas mengalir pada 2018-2023. 

Jobi menambahkan, produksi gas dari ConocoPhillips akan diteruskan PGN ke masyarakat melalui jaringan pipa distribusi gas di wilayah Dumai. Saat ini PGN sedang menyelesaikan pengerjaan proyek pipa gas distribusi Dumai sepanjang 137 kilometer. Proyek tersebut diperkirakan selesai pada 2018. 

Selain proyek pipa distribusi, PGN juga sedang mengerjakan proyek pipa transmisi Duri-Dumai sepanjang 67 km. Proyek pipa transmisi ini dikerjakan bersama-sama dengan PT Pertamina berdasarkan penugasan dari pemerintah. “Selain Duri-Dumai, PGN sedang membangun infrastruktur pipa gas di Riau, Jawa Barat, Jawa Timur dan beberapa daerah lainnya,” ujar Jobi.

Seperti diketahui, PGN saat ini telah membangun dan mengoperasikan lebih dari 7.200 km jaringan pipa gas bumi. Ini setara dengan 80% pipa gas bumi hilir seluruh Indonesia.

Dari infrastruktur gas bumi tersebut, PGN menyalurkan gas bumi secara langsung ke pelanggan domestik mencapai 168.973 pelanggan, dengan rincian lebih rdari 165.392 pelanggan rumah tangga, 1.929 pelanggan sektor UMKM, komersial, hotel, rumah sakit, restoran, hingga rumah makan, serta 1.652 industri manufaktur berskala besar dan pembangkit listrik. 

PGN juga mengoperasikan 2 unit Floating Storage Regasification Unit (FSRU), 11 Stasiun Pengisian Bahan Bakar Gas (SPBG) dan 4 Mobile Refueling Unit (MRU).

Investor Daily, Page-9, Thursday, May 18, 2017