Chevron releases Block B South Natuna

Chevron Indonesia re-releases its share ownership of oil and gas blocks in the country in order to focus more on the management of other blocks. Chevron releases a 25% stake in South Natuna Block Block B Block following ConocoPhillips and In Natex Limited which has already released the participation stake in the oil and gas block.

Senior Vice President of Policy, Government and Public Affairs of Chevron Indonesia Yanto Sianipar said that it has released a 25% share ownership stake in Block B South Natuna. According to him, the share of such participation has been transferred to interested parties. However, he did not mention the company that took over 25% of the shares.

"The company decided to release a 25% share ownership of the non-operating SNSB [South Natuna Sea Block B] Cooperation Contract to a party expressing interest in the block," he said.

The oil and gas block signed in 1968 began producing its first oil in 1979 and gas in 2001. The oil and gas block contract will expire in 2028. Previously, ConocoPhillips' participation stake of 40% in Block B South Natuna was sold to Medco.

At the end of 2016. In addition, 35% of Inpex shares in Block B of South Natuna are also controlled by PT Medco Daya Sentosa, a subsidiary of PT Medco Energi Internasional Tbk. in early 2017. Since then, Medco has managed the block with Chevron. Quoted by Reuters, the government has allowed the opening of data to share the exploration and reserve data requested by some interested companies since 2015.

The block has three oil producing wells. In addition, there are 16 gas wells consisting of eight wells that have been in production. The average oil production from the blocks in the Natuna Sea in 2016 is 20,000 barrels per day (bpd), while the gas is 197 million cubic feet per day (MMscfd). In addition, Block B South Natuna also produce liquefied petroleum gas (LPG) as much as 6,000 bp According to him, the step release the right to manage the company to focus more on the management of other work areas.

In 2016, Chevron also restore the management of the East Kalimantan Block which will expire in 2018. Chevron will no longer be involved in the management of the working area after 2018. In addition to the East Kalimantan Block, Chevron also releases a 50% participation stake in the Attaka Block , East Kalimantan which is a unitization with the East Kalimantan Block.

Currently, Chevron operates the Rokan Block which supports 226,500 bph oil production or 28% of the national production. In addition, Chevron still has a deepwater project (Indonesian Deepwater Development / IDD) which is expected to produce up to 1,200 MMscfd of gas that is still in development stage.

"As part of Chevron's efforts to manage the business effectively and efficiently."

BUMI HASTA

Separately, Medco Energi International President Director Hilmi Panigoro said it did not want to increase the rights of participation in Block B Natuna Selatan. Medco is currently the operator of the block with 75% ownership. According to him, 25% of Chevron's shares have been transferred to domestic oil and gas companies. However, he can not be sure whether PT Bumi Hasta Mukti is the new owner of Chevron's 25% management rights.

"Chevron sells it to other parties, if not mistaken to Earth Hasta, but please confirm it to Chevron," he said.

Earlier, Deputy Minister of Energy and Mineral Resources (EMR) Arcandra Tahar said it was not aware of the transfer of shares of Chevron's participation. From data from the Ministry of Energy and Mineral Resources, Medco turned off the Keris Well in Block B Natuna Selatan during KA-12 drilling to avoid drilling mud. As a result, production fell 3,400 bpd.

"The block is Medco? I do not know yet, "said Arcandra.

IN INDONESIA

Chevron Lepas Blok B South Natuna

Chevron lndonesia kembali melepas kepemilikan saham partisipasi blok minyak dan gas bumi di Tanah Air dengan tujuan untuk lebih fokus pada pengelolaan blok lainnya. Chevron melepas 25% saham partisipasi di Blok South Natuna Sea Block B mengikuti langkah ConocoPhillips dan lnpex Natuna Limited yang telah lebih dulu melepas saham partisipasi di blok minyak dan gas bumi tersebut. 

Senior Vice President Policy, Government and Public Affairs Chevron Indonesia Yanto Sianipar mengatakan bahwa pihaknya telah melepas kepemilikan saham partisipasi 25% di Blok B South Natuna. Menurutnya, saham partisipasi tersebut telah dialihkan kepada pihak yang berminat. Namun, dia tidak menyebut perusahaan yang mengambil alih 25% saham tersebut.

“Perusahaan memutuskan untuk melepas 25% saham kepemilikan atas Kontrak Kerja Sama SNSB [South Natuna Sea Block B] non-operasi kepada pihak yang menyatakan ketertarikan atas blok tersebut,” ujarnya. 

Blok migas yang diteken pada 1968 itu mulai menghasilkan minyak pertamanya pada 1979 dan gas pada 2001. Kontrak blok migas itu akan berakhir pada 2028. Sebelumnya, saham partisipasi milik ConocoPhillips sebesar 40% di Blok B South Natuna itu dijual kepada Medco.

Pada akhir 2016. Selain itu, 35% saham Inpex di Blok B South Natuna juga dikuasai oleh PT Medco Daya Sentosa, anak usaha PT Medco Energi Internasional Tbk. pada awal 2017. Sejak saat itu, Medco mengelola blok tersebut bersama Chevron. Dikutip dari Reuters, pemerintah telah mengizinkan pembukaan data untuk membagikan data eksplorasi dan cadangan yang diminta beberapa perusahaan yang berminat sejak 2015.

Blok tersebut memiliki tiga sumur minyak yang berproduksi. Selain itu, ada 16 sumur gas terdiri atas delapan sumur yang telah berproduksi. Rerata produksi minyak dari blok yang berada di Laut Natuna itu pada 2016 sebanyak 20.000 barel per hari (bph), sedangkan gas 197 juta kaki kubik per hari (MMscfd). Selain itu, Blok B South Natuna juga menghasilkan elpiji (liquefied petroleum gas/LPG) sebanyak 6.000 bph Menurutnya, langkah melepas hak kelola untuk membuat perusahaan kian fokus pada pengelolaan wilayah kerja lainnya.

Pada 2016, Chevron juga mengembalikan pengelolaan Blok East Kalimantan yang akan berakhir masa kontraknya pada 2018. Dengan demikian, Chevron tidak lagi terlibat dalam pengelolaan wilayah kerja itu setelah 2018. Selain Blok East Kalimantan, Chevron juga melepas kepemilikan saham partisipasi sebesar 50% di Blok Attaka, Kalimantan Timur yang merupakan unitisasi dengan Blok East Kalimantan. 

Saat ini, Chevron mengoperasikan Blok Rokan yang mendukung produksi minyak sebesar 226.500 bph atau 28% dari produksi nasional. Selain itu, Chevron masih memiliki proyek laut dalam (Indonesian Deepwater Development/IDD) yang diperkirakan bisa menghasilkan gas hingga 1.200 MMscfd yang masih dalam tahap pengembangan.

“Sebagai bagian dari upaya Chevron mengelola bisnis secara efektif dan efisien.” 

BUMI HASTA

Secara terpisah, Presiden Direktur Medco Energi Internasional Hilmi Panigoro mengatakan bahwa pihaknya tidak ingin menambah hak partisipasi di Blok B Natuna Selatan. Medco saat ini menjadi operator blok tersebut dengan kepemilikan 75%. Menurutnya, 25% saham milik Chevron telah beralih kepada perusahaan migas dalam negeri. Namun, dia tak bisa memastikan apakah betul PT Bumi Hasta Mukti menjadi pemilik baru 25% hak kelola Chevron.

“Chevron menjual ke pihak lain, kalau tidak salah ke Bumi Hasta, tetapi silahkan dikonfirmasi ke Chevron,” katanya.

Sebelumnya, Wakil Menterl Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan bahwa pihaknya belum mengetahui pengalihan saham partisipasi Chevron. Dari data Kementerian ESDM, Medco mematikan Sumur Keris di Blok B Natuna Selatan selama pengeboran KA-12 untuk menghindari lumpur pengeboran. Akibatnya, produksi turun 3.400 bph.

“Bloknya Medco? Saya belum tahu,” kata Arcandra.

Bisnis Indonesia, Page-30, Monday, Oct 9, 2017

Pertamina's Oil and Gas Production Up 6%

The average oil and gas production of PT Pertamina as of the third quarter of 2017 rose 6.26% to 689,000 barrels of oil equivalent per day (boepd) compared to the same period last year of 646,000 boepd. Senior Vice President of Upstream Strategic Planning and Operation Evaluation Pertamina Meidawati said that the increase in production realization is due to several factors.

First, the increase of oil production from Banyu Urip Field contributes to Pertamina through its subsidiary, PT Pertamina EP Cepu (PEPC). Second, the increase in production from the increase in the ownership of Pertamina Hulu Energi Offshore North West Java in Offshore North West Java (ONWJ) Block to 100%. Third, additional oil and gas production and assets in Iraq and Algeria.

The total production of 689,000 boepd consists of oil of 344,000 barrels per day (bpd) and gas 2.030 million cubic feet per day (MMscfd). Meanwhile, the average of oil and gas production as of quarter III / 2016 is 646,000 boepd consisting of 309,000 bpd of oil and gas of 1,953 MMscfd.

"The increase in oil production from PEPC Banyu urip, PHE because PI [stake participation] ONWJ to 100%, from Pertamina International in Algeria, Iraq, and the success of our acquisitions abroad, "he said.

Currently, the company is preparing to drill eighth wells in the Mahakam Block. Until the first week of October 2017, Pertamina finished drilling seven wells with a realization cost of US $ 34.1 million. The plan, until the end of this year will be drilled nine wells again so that the total wells are drilled as many as 17 wells.

The Mahakam Block-East Kalimantan

Based on data from SKK Migas, Mahakam Block oil production in the first half of 2017 is 55,100 bpd and gas is 1,504 MMscfd. Pertamina became operator in the Mahakam Block on January 1, 2018 replacing PT Total E & P Indonesie. Earlier, Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said that while visiting Total's headquarters in France, Total is still interested in participating in the Mahakam Block after the contract expires.

However, there is a proposed Total scheme to Pertamina in the new Mahakam Block management contract. He did not mention the detail of the proposed scheme Total. However, Arcandra estimates Total to pay attention to how valuation of shares of participation that must be paid to be able to control Mahakam shares by 39%.

"So the scheme is probably how to calculate the valuations of the blocks."

According to him, according to the direction of the Minister of Energy and Mineral Resources Ignasius Jonan, Pertamina must send a letter to the minister to open the 39% bid. Meanwhile, PT Pertamina Gas, a subsidiary of Pertamina, posted net profit in January-August 2017 of US $ 90.6 million or 118% of this year's target.

"Compared to the same period last year, our profit also increased 108%," said Pertagas President Director Suko Hartono.

IN INDONESIA

Produksi Migas Pertamin Naik 6%

Rerata produksi minyak dan gas bumi PT Pertamina hingga kuartal III/2017 naik 6,26% menjadi 689.000 barel setara minyak per hari (boepd) dibandingkan dengan periode yang sama tahun lalu 646.000 boepd. Senior Vice President Upstream Strategic Planning and Operation Evaluation Pertamina Meidawati mengatakan bahwa kenaikan realisasi produksi disebabkan beberapa hal.

Pertama, naiknya produksi minyak dari Lapangan Banyu Urip sehingga berkontribusi turut berkontribusi terhadap Pertamina melalui anak usahanya PT Pertamina EP Cepu (PEPC). Kedua, bertambahnya produksi dari naiknya porsi kepemilikan Pertamina Hulu Energi Offshore North West Java pada Blok Offshore North West Java (ONWJ) menjadi 100%. Ketiga, tambahan produksi migas dan aset di lrak dan Aljazair.

Total produksi 689.000 boepd itu terdiri atas minyak sebanyak 344.000 barel per hari (bph) dan gas 2.030 juta kaki kubik per hari (MMscfd). Sementara itu, rincian rerata produksi migas hingga kuartal III/2016 sebanyak 646.000 boepd terdiri atas minyak 309.000 bph dan gas 1.953 MMscfd.

“Kenaikan produksi minyak dari PEPC Banyu urip, PHE karena PI [saham partisipasi] ONWJ menjadi 100%, dari Pertamina International di Aljazair, lrak, serta keberhasilan akuisisi kita di luar negeri,” ujarnya.

Saat ini, perseroan sedang mempersiapkan pengeboran sumur kedelapan di Blok Mahakam. Hingga pekan pertama Oktober 2017, Pertamina selesai mengebor tujuh sumur dengan realisasi biaya US$ 34,1 juta. Rencananya, hingga akhir tahun ini akan dibor sembilan sumur lagi sehingga total sumur yang dibor sebanyak 17 sumur.

Berdasarkan data SKK Migas, produksi minyak Blok Mahakam pada semester I/2017 sebesar 55.100 bph dan gas 1.504 MMscfd. Pertamina menjadi operator di Blok Mahakam pada 1 Januari 2018 menggantikan PT Total E&P Indonesie. Sebelumnya, Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan bahwa saat mengunjungi kantor pusat Total di Prancis, Total masih berminat untuk berpartisipasi di Blok Mahakam setelah kontrak berakhir. 

Namun, terdapat skema yang diusulkan Total kepada Pertamina dalam kontrak baru pengelolaan Blok Mahakam. Dia tidak menyebut detail skema yang diajukan Total. Namun, Arcandra memperkirakan Total memperhatikan cara valuasi nilai saham partisipasi yang harus dibayarkan untuk bisa menguasai saham Mahakam sebesar 39%.

“Jadi skemanya itu mungkin bagaimana menghitung valuasi dari blok."

Menurutnya, sesuai dengan arahan Menteri ESDM Ignasius Jonan, Pertamina harus mengirimkan surat kepada menteri untuk membuka penawaran 39%. Sementara itu, PT Pertamina Gas, anak usaha Pertamina, mencetak laba bersih selama Januari-Agustus 2017 sebesar US$ 90,6 juta atau 118% dari target tahun ini.

"Dibandingkan hingga penode yang sama tahun lalu, laba kami juga meningkat 108%  ujar Presiden Direktur Pertagas Suko Hartono.

Bisnis Indonesia, Page-30, Monday, Oct 9, 2017

Chevron Sells 25% Block B to Bumi Hasta

Chevron Indonesia will sell 25% stake in South Natuna Sea Block B or Block B of South Natuna Sea to PT Bumi Hasta Mukti Sebab PT Medco Energi International Tbk (MEDC), 75% shareholder of South Natuna B block, is not interested to buy 25% Chevron.

President Director of PT Medco Energi International Tbk, Hilmi Panigoro confirmed that PT Bumi Hasta Mukti will buy Chevron shares in Block B of South Natuna Sea, not Medco. Chevron sells to other parties. "Please confirm to Chevron," said Hilmi.

Unfortunately, Senior Vice President of Policy, Government & Public Affairs Chevron Indonesia Yanto Sianipar can not be confirmed related information. Until this news was printed, Yanto did not answer the short message.

Please note, the involvement of PT Bumi Hasta in oil and gas business started in 2001. At that time the company bought PT Maruta Bumi Prima, a processing company P in Pangkalan Brandan, North Sumatra. In 2002, Bumi Hasta Mukti bought PT Pelangi Haupgeulis Resources, a company engaged in upstream oil and gas business.

Pelangi Haurgeulis is a partner of PT Pertamina EP in a cooperation mechanism known as technical assistance contract (TAC) or technical assistance cooperation. Finally, in 2003 PT Bumi Hasta again bought PT Pertalahan Amebatara Natuna. Through Amebatara Mitigation, PT Bumi Hasta, manages upstream oil and gas activities in Natuna Prawn Field.

This is a deep offshore field of oil and gas offshore and formerly ConocoPhillips cultivated fields. The field began producing oil in 2005. Currently oil production there reaches an average of 3,000 bpd. The Amebatara Eruption is also a partner of PT Pertamina EP in the TAC mechanism.

IN INDONESIA

Chevron Menjual 25% Blok B ke Bumi Hasta

Chevron Indonesia akan melego 25% saham di South Natuna Sea Blok B atau Blok B Laut Natuna Selatan kepada PT Bumi Hasta Mukti Sebab PT Medco Energi Internasional Tbk (MEDC), pemegang saham 75% Blok B Natuna Selatan, tidak berminat membeli 25% saham milik Chevron.

Direktur Utama PT Medco Energi Internasional Tbk, Hilmi Panigoro membenarkan, PT Bumi Hasta Mukti yang akan membeli saham Chevron di Blok B Laut Natuna Selatan itu, bukan Medco. Chevron menjual ke pihak lain. "Silakan konfirmasi ke Chevron," kata Hilmi. 

Sayang, Senior Vice President Policy, Government & Public Affairs Chevron Indonesia Yanto Sianipar tidak bisa dikonfirmasi terkait informasi tersebut. Hingga berita ini dicetak, Yanto tidak menjawab pesan singkat. 

Perlu diketahui, keterlibatan PT Bumi Hasta dibisnis migas dimulai pada tahun 2001. Waktu itu perusahaan ini membeli PT Maruta Bumi Prima, sebuah perusahaan pengolahan P di Pangkalan Brandan, Sumatera Utara. Pada 2002 lalu, Bumi Hasta Mukti membeli PT Pelangi Haupgeulis Resources, perusahaan yang bergerak di bisnis hulu (upstream) migas.

Pelangi Haurgeulis merupakan mitra PT Pertamina EP dalam mekanisme kerjasama yang dikenal dengan sebutan Technical Assistance Contract (TAC) atau kerjasama bantuan teknik. Terakhir, pada tahun 2003 PT Bumi Hasta kembali membeli PT Pertalahan Amebatara Natuna. Melalui Pertalahan Amebatara, PT Bumi Hasta, mengelola kegiatan usaha hulu migas di Lapangan Udang Natuna.

Ini merupakan lapangan offshore migas di laut lepas yang dalam dan sebelumnya merupakan ladang garapan ConocoPhillips. Lapangan itu mulai menghasilkan minyak tahun 2005. Saat ini produksi minyak di sana mencapai rata-rata, 3.000 bph. Pertalahan Amebatara juga merupakan mitra PT Pertamina EP dalam mekanisme TAC.

Kontan, Page-14, Monday, Oct 9, 2017

Lemigas has already handed over Kepodang Investigation Result

The government has received a report from the Center for Research and Development of Oil and Gas Technology (Lemigas) related to Kepodang Field Study, Muriah Block, Central Java. The re-study was conducted after Petronas, as the block operator, stated that Kepodang Field is in force majeure in the middle of this year.

Deputy Minister Energj and SuMber Mineral Resources (ESDM), Arcandra Tahar, said the results of the Kepodang re-study will be discussed by the Special Unit for Upstream Oil and Gas (SKK Migas) and KepKang Field Contract Contractors (KKKS). Unfortunately Arcandra reluctant to leak about the study of Lemigas.

"Being reviewed, then reviewed back to Petronas," Arcandra said on Friday; (6/10) night in his office.

In the review of Lemigas, SKK Migas, and Kepkang Field KKKS will see the fit of all data such as reservoir analysis. Because Kepkang Field kkar field occurs because the actual production is lower than the certification of reserves, in the plan of development (POD). Later the government used Lemigas review to determine the fate of Kepodang Field.

"The result is still discussed with SKK, after which we will action his many actions after reviewing the results of Lemigas," said Arcandra.

As is known, Petronas has declared the state of powers in Kepodang Field due to decreased gas production. Since production (onstream) August 2015 until now Kepodang Field is still flowing gas. It's just that gas production does not match the target of 116 mmscfd. Kepodang Field Production is currently only 70 mmscfd-80 mmscfd on average.

IN INDONESIA

Lemigas Sudah Serahkan Hasil Investigasi Kepodang

Pemerintah sudah menerima laporan dari Pusat Penelitian dan Pengembangan Teknologi Minyak dan Gas Bumi (Lemigas) terkait Studi ulang Lapangan Kepodang, Blok Muriah, Jawa Tengah. Studi ulang tersebut dilakukan setelah Petronas, selaku, operator blok tersebut, menyatakan, Lapangan Kepodang dalam kondisi kahar (force majeure) pada pertengahan tahun ini.

Wakil Menteri Energj dan SuMber Daya Mineral (ESDM), Arcandra Tahar mengatakan, hasil studi ulang Kepodang tersebut akan dibahas oleh Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) dan Kontraktor Kontrak Kerjasama (KKKS) Lapangan Kepodang. Sayang Arcandra enggan membocorkan soal Studi Lemigas itu. 

"Sedang di-review. kemudian di-review balik ke Petronas," ungkap Arcandra pada Jumat; (6/10) malam di kantornya. 

Dalam kajian ulang Lemigas, SKK Migas, dan KKKS Lapangan Kepodang akan melihat kecocokan seluruh data seperti analisa cadangan (reservoir analysis). Pasalnya kondisi kahar Lapangan Kepodang terjadi lantaran produksi aktual lebih rendah dari sertifikasi cadangan, dalam plan of development (POD). Nantinya pemerintah memakai kajian ulang Lemigas ini untuk menentukan nasib Lapangan Kepodang. 

"Hasilnya masih dibicarakan dengan SKK, sesudah itu kami akan action. Action-nya banyak setelah review hasil dari Lemigas, " kata Arcandra.

Seperti diketahui, Petronas telah menyatakan kondisi kahar di Lapangan Kepodang akibat menurunnya produksi gas. Sejak berproduksi (onstream) Agustus 2015 hingga saat ini Lapangan Kepodang masih mengalirkan gas. Hanya saja produksi gas tidak sesuai target sebesar 116 mmscfd. Produksi Lapangan Kepodang saat ini rata-rata hanya 70 mmscfd-80 mmscfd.

Kontan, Page-14, Monday, Oct 9, 2017

November, Oil and Gas Holding is formed

Minister of State-Owned Enterprises (SOE) Rini Soernarno said that the priority state-owned holding company was formed this year, namely the holding of oil and gas BUMN and the two holding mines are targeted to be completed in November. The process of harmonization between ministries and internal discussions between companies has been done.

"Now just waiting for the final to the President. This November finished all, "Rini said in a relaxed talk in Jakarta, Thursday night (5/10). Rini explained that the holding formation aims to strengthen SOEs without burdening the state. She mentioned during the period 2015-2016 BUMN get state investment of Rp 81 trillion.

But each year can give dividends to the country. For the period 2015-2017 total dividend reached Rp 113 trillion. While in 2018 there is an additional Rp 42 trillion.

She said the appointment of Budi Gunadi Sadikin as President Director of PT Indonesia Asahan Alumunium (Inalum) is part of the establishment of a mining holding. Inalum will be the holding company of the mine. Rini wants national mining SOEs to become world class players.

"When talking to mines, our mining company is small. Holding coal mines, nickel, bauxite, tin also under private let alone the world. If we make the holding is still tolerable, although several tens of ratings, "said Rini.

Rini further emphasized the importance of efficiency for holding the mine. Efficiency is by way of synergy between companies. He cited the use of heavy equipment together that can suppress the cost of production. With the decrease in production costs, the company is able to compete internationally.

"It's supposed to have a world-caliber company. Now still far away. This is what we expect, "She added.

Purchase of Freeport

Rini disclosed the other purpose of holding a mining holding is to obtain 41.64% of the divestment shares issued by PT Freeport Indonesia. She asserted state-owned mines have the ability to purchase the shares.

"If we can not afford it has been said from the beginning. Instead we see assets and cashflow position mined we are sure able to do so. In context some of our SOEs are quite strong and big, "She said.

But he has not been able to disclose how and or the value of shares that will be acquired. Because the negotiation process with Freeport is still running. The negotiation is related to the method of disposal or stock valuation. She insisted there was no such divestment scheme opportunity through the stock as Freeport wanted.

Broadly speaking, BUMNs will form a special purpose vehicle between BUMN and the Government of Papua Province and possibly BPJS Employment but the majority (shares owned) of SOEs. Not through the stock, "She said.

On Friday (6/10) President and CEO of Freeport McMoRan Inc. Richard C. Adkerson met the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan related to the discussion of the attachment of Special Mining Business License (IUPK). The meeting took place at the Ministry of Energy and Mineral Resources beginning at around 10:45 pm WTB ended before Friday prayers.

Special Staff of Minister of Energy and Mineral Resources Hadi M. Djuraid said the context of the meeting is Freeport remains in accordance with the frame work or the agreed framework of the agreement. The agreement is related to divestment 51%, smelter development then aggregate state revenue both taxes, levies and others is greater than the Contract of Work regime.

"The principle is that Freeport remains committed to the deal already taken," Hadi said.

Hadi explained there was no agreement whatsoever in today's meeting. He only mentioned that the Minister of Energy and Mineral Resources will again assist the negotiation process together with the Minister of Finance and the Minister of SOEs to reach an agreement soon and the results will be included in the Annex of the Special Mining Permit (IUPK). 

     Because the annex of the Special Mining Permit (IUPK) which is now associated with the smelter already. What is still awaited is the attachment related to the first taxation or state revenue, the two divestitures. Well that is still to be negotiated details, "he said.

The talks with Freeport have been in place since February and targeted on October 10. But ahead of the deadline there has been no agreement on divestment. Extension of negotiation time is possible when Freeport submits it. It's just Hadi said in the meeting had not been discussed or no application for renewal of negotiations.

IN INDONESIA

November, Holding Migas dan Tambang Terbentuk  

Menteri Badan Usaha Milik Negara (BUMN) Rini Soernarno menyatakan holding BUMN yang diprioritaskan terbentuk tahun ini yakni holding BUMN migas dan pertambangan Kedua holding tersebut ditargetkan rampung pada November ini. Proses harmonisasi antar kementerian serta diskusi internal antar perusahaan sudah dilakukan.

“ Sekarang hanya menunggu final ke Presiden. November ini selesai semua,” kata Rini dalam bincang santai di Jakarta, Kamis malam (5/10). Rini menerangkan pembentukkan holding bertujuan untuk memperkuat BUMN tanpa membebani negara. Dia menyebut selama kurun 2015-2016 BUMN mendapatkan penanaman modal negara sebesar Rp 81 triliun. 

Namun tiap tahun mampu memberikan deviden ke negara. Untuk periode 2015-2017 total deviden mencapai Rp 113 triliun. Sedangkan di 2018 ada tambahan Rp 42 triliun.

Dikatakannya penunjukan Budi Gunadi Sadikin sebagai Direktur Utama PT Indonesia Asahan Alumunium (Inalum) merupakan bagian dari pembentukan holding pertambangan. Pasalnya Inalum bakal menjadi induk perusahaan holding tambang tersebut. Rini menginginkan BUMN pertambangan nasional menjadi pemain kelas dunia.

“Kalau bicara tambang, perusahaan tambang kita kecil. Holding tambang batubara, nikel, bauksit, timah juga dibawah swasta apalagi dunia. Kalau kita bikin holding masih lumayan, meski beberapa puluh peringkatnya,” Kata Rini.

Lebih lanjut Rini menekankan pentingnya efisiensi bagi holding tambang tersebut. Efisiensi itu dengan cara sinergitas antar perusahaan. Dia mencontohkan penggunaan alat berat secara bersama yang mampu menekan ongkos produksi. Dengan penurunan biaya produksi maka perusahaan mampu berkompetisi secara internasional. 

“Sudah seharusnya punya perusahaan berkaliber dunia. Sekarang masih jauh. Ini yang kita harapkan,” tambahnya.

Pembelian Freeport 

Rini mengungkapkan tujuan lain pembentukan holding pertambangan ialah untuk mendapatkan 41,64% saham divestasi yang dilepas PT Freeport Indonesia. Dia menegaskan BUMN tambang memiliki kemampuan untuk membeli saham tersebut.

“ Kalau kita tidak mampu sudah dikatakan sejak awal. Justru kita melihat aset dan cashflow position ditambang kita yakin mampu melakukannya. Secara konteks sebagian BUMN kita cukup kuat dan besar,” ungkapnya.

Namun dia belum bisa mengungkapkan berapa dan maupun nilai saham yang bakal diakuisisi tersebut. Pasalnya proses negosiasi dengan Freeport masih berjalan. Negosiasi itu terkait dengan metode pelepasan maupun valuasi saham. Dia menegaskan tidak ada peluang skema divestasi itu melalui bursa sebagaimana yang diinginkan oleh Freeport.

Secara garis besar bahwa BUMN akan bentuk special purpose vehicle adalah antara BUMN dengan Pemerintah Provinsi Papua dan kemungkinan BPJS Ketenagakerjaan tapi mayoritas (saham dimiliki) BUMN. Tidak lewat bursa,” ujarnya.

Pada Jumat (6/10) Presiden and CEO Freeport McMoRan Inc Richard C. Adkerson menemui Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan terkait pembahasan lampiran Izin Usaha Pertambangan Khusus (IUPK). Pertemuan itu bertempat di Kementerian ESDM dimulai sekitar pukul 10.45 WTB berakhir menjelang shalat Jumat.

Staf Khusus Menteri ESDM Hadi M. Djuraid mengatakan konteks pertemuan itu adalah Freeport tetap sesuai dengan frame work atau kerangka dasar kesepakatan yang sudah disepakati bersama. Kesepakatan itu terkait dengan divestasi 51%, pembangunan smelter kemudian penerimaan negara secara agregat baik pajak, retribusi dan yang lain lainnya itu lebih besar daripada rezim Kontrak Karya.

“Prinsipnya adalah Freeport tetap komitmen dengan kesepakatan yang sudah diambil,” kata Hadi.

Hadi menerangkan tidak ada kesepakatan apapun dalam pertemuan hari ini. Dia hanya menyebut Menteri ESDM akan kembali membantu proses perundingan bersama-sama dengan Menteri Keuangan dan Menteri BUMN supaya segera dicapai kesepakatan dan hasilnya nanti akan dimasukkan di dalam lampiran Ijin Usaha Pertambangan Khusus (IUPK) . 

      Karena lampiran Ijin Usaha Pertambangan Khusus (IUPK) yang sekarang itu terkait dengan smelter sudah. Yang masih ditunggu itu adalah lampiran terkait dengan pertama perpajakan atau penerimaan negara, kedua divestasi. Nah itu yang masih akan segera dirundingkan detailnya,” ujarnya.

Perundingan dengan Freeport sudah berjalan sejak Februari kemarin dan ditargetkan seleasai pada 10 Oktober nanti. Namun jelang batas waktu itu belum ada kesepakatan terkait divestasi. Perpanjangan waktu negosiasi dimungkinkan bila Freeport mengajukan hal tersebut. Hanya saja Hadi bilang dalam pertemuan tadi tidak dibahas atau tidak ada permohonan perpanjangan negosiasi.

Investor Daily, Page-9, Saturday, October 2017

Saudi king, Putin eye energy, arms deals on landmark Russia visit

On a landmark visit to Russia, Saudi Arabia’s King Salman and President Vladimir Putin were set on Thursday to clinch a host of multi-billion-dollar energy and defense deals despite discord over the Syrian war.

The first official trip to Russia by a Saudi monarch will also see the leaders of the world’s largest energy exporters discuss an extension of an Organization of the Petroleum Exporting Countries (OPEC) agreement to cap oil output.

“This is the first visit by a Saudi Arabian monarch in the history of our relations and that in itself is a landmark event,” Putin said as he welcomed King Salman to Moscow in an ornate gilded Kremlin hall.

“l’m sure your visit will boost the ties between our countries,” he said. “We aim to strengthen our relations in the interests of peace and security in the interests of developing the world economy,” the Saudi king responded.

Citing Russia’s energy minister Alexander Novak, the Financial Times reported that Russia and Saudi Arabia were expected to sign deals worth over US$3 billion, including a $1 billion energy investment fund and a $1.1 billion agreement for Russia’s petrochemicals giant Sibur to build a plant in Saudi Arabia.

Russia’s Kommersarzt business daily reported Putin and Salman were also due to discuss an arms deal worth more than $3 billion, to supply Riyadh with S-400 air defense systems. Russia and Saudi Arabia are heavily dependent on oil exports and the global plunge of the price of crude that began in 2014 lashed both their economies.

OPEC members have joined with Russia and other countries in cutting crude output in a pact that has helped prop up prices. Putin said on Wednesday it was possible to extend an OPEC deal to cap oil output “at least until the end Of 2018.”

The current agreement runs until March 2018.

“We strive to continue the positive cooperation between our countries to achieve stability on World oil markets which promotes the growth of the world’s economy,” Salman said in Moscow.

The leaders held one-on-one talks, followed by broader discussions. Once they sign the expected deals, Putin will host a state dinner for Salman.

“The political will of Moscow and Riyadh for deeper cooperation on the widest range of issues is clear,” Putin’s spokesman Dmitry Peskov told journalists ahead ofthe meetings.

The 81-year-old Saudi monarch’s three-day visit got off to an awkward start on Wednesday evening after landing at Moscow’s Vnukovo-2 airport when the escalator he uses to descend from his plane malfunctioned.

The escalator stopped midway forcing the king to walk down himself, to be met by Russian officials including deputy prime minister Dmitry Rogozin and a military brass band.

His delegation of around 1,000 people occupied all the available hotel rooms in five-star hotels around the Kremlin, including one entire hotel, state RIA Novosti news agency reported.

Salman arrived in Moscow along with Energy Minister Khalid al-Falih, Foreign MinisterAdel al-Jubeir and Minister of State Musaed al-Aiban. The head of Saudi’s state-owned oil giant Aramco Amin Nasser told Rossiya 24 state television ahead of the talks that the company would sign agreements with Russia’s Gazprom, Gazprom Neft and Sibur energy companies as well as with an affiliate of Lukoil. The Kremlin said ahead of the visit that Salman and Putin would also discuss the Middle East, “especially focusing on conliict situations in the region.”

While Russia and Saudi Arabia are partners on the oil market, they are at loggerheads on Syria, where Moscow supports President Bashar al-Assad and Riyadh backs the opposition.

Jakarta Post, Page-12, Friday, October 6, 2017

Firm action prepared for unruly fuel sellers

The government has warned recalcitrant gas stations that it will shut them down or revoke their operational permits, including those that sell overpriced gasoline or trick their customers with deceptive gas meters. The government will do this to ensure the proper implementation of its one-price fuel policy.

Downstream Oil and Gas Regulatory Agency (BPH Migas) plans to team up with the Trade Ministry’s metrology directorate, the Energy and Mineral Resources Ministrys Directorate General of Oil and Gas and-the National Police’s Criminal Investigation Department to run so called compliance operations targeting fuel distribution agents nationwide. 

BPH Migas committee member Muhammad Ibnu Fajar said his team would inspect gas stations to check the validity of their operation permits, the dispenser volume, the gas meter, as well as product specifications and prices.

“We need to undertake the compliance operations to monitor the implementation of the oneprice fuel policy among fuel agents so that there are no violations, including in the prices set for customers,” Ibnu said Thursday

In the first phase, the agency will conduct field inspections at four or five gas stations in Greater Jakarta, which will be selected through a random sampling method.

Then, it will expand its coverage across the country in 2018 with the target of inspecting at least six random gas stations per month out of a total 7,680 stations nationwide. The agency will also take into account public complaints filed in determining which stations are targeted. 

As mandated by the government, state-owned energy giant Pertamina will establish by 2019 fuel distribution agents in 150 locations included in the so-called "3T regions", referring to the countryfs frontier, outermost and ‘remote regions.

ln this way, Pertamina hopes it can keep the prices of some fuel types at the same level in those locations, including Premium gasoline with a research octane number (RON) of 88 at Rp 6,450 (48 US cents) per liter and subsidized Solar diesel at Rp 5,150-per liter. 

“For recalcitrant gas stations, we can revoke their permits, close them down or even take legal action against them,” Ibnu said. 

If a gas station is proven to use inaccurate gas meters, resulting in lower-than-expected gasoline volumes received by customers, the station’s operator can be sentenced to a year in prison or slapped with a Rp 1 million fine, as stipulated in the 1981 Legal Metrology Law.

Moreover, if a gas station misuses the distribution of subsidized fuel, the operator can be sentenced to six years in prison or fined Rp 60 billion, as stated in the 2001 Oil and Gas Law, Mean-while, the misuse of non-subsidized fuel could lead to four years in prison or a Rp 40 billion fine.

As of today, Pertamina has only been able to implement the policy in 25 locations, less than half the 54 targeted locations for this year, following some problems related to permit issuance and development progress at gas stations in remote regions.

“We have three more months to go. Pertamina will work hard to expedite the implementation of the policy at the 54 locations by the end of the year,” Energy and Mineral Resources Ministry oil and gas director general Ego Syahrial said. 

Pertamina estimates that it will have to spend Rp 800 billion this year alone and Rp 5 trillion by 2019 to fully realize the one-price fuel policy. This comes amid the company’s mounting financial burdens.

As the government has maintained the prices of Premium and Solar at the same level since April 2016, Pertamina has had to bear the burden when the prices fall below their real economic value.

Jakarta Post, Page-13, Friday, October 6, 2017