Pertamina to Develop Oil and Gas Block in Algeria

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

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

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

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

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

IN INDONESIA

Pertamina Kembangkan Blok Migas di Aljazair

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

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

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

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

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

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

Jumbo Scale Negotiation in ESDM Not Fulfilled Target

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

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

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

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

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

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

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

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

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

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

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

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

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

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

IN INDONESIA

Negosiasi Skala Jumbo di ESDM Tidak Penuhi Target

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

7 Years Without Rules Play

After 7 years of having no clear rules, the government will soon issue a Regulation of the Minister of Energy and Mineral Resources that will regulate the obligation of oil and gas contractors to allocate funds for recovery of ex-oil and gas blocks.

After oil and gas exploitation activities in a field last, the contractor is supposed to perform the recovery activities of the former oil and gas wells.

However, until now it has not been clearly regulated on the obligations for contractor contractors to set aside the recovery funds of the former oil and gas wells. In fact, until 2025 there are 35 oil and gas contracts that will expire.

Referring to Article 17, Government Regulation no. 79/2010 on Recoverable Operating Costs, the Minister of ESDM and SKK Migas shall immediately coordinate the drafting and stipulation of the use of abandonment and site restoration (ASR) funds. The contractor set aside funds for ASR into joint account of SKK Migas.

In addition to Government Regulation 79, the Supreme Audit Agency (BPK) in the Central Government Financial Report 2015 recommends that the government develop and establish accounting policies related to the reserve of the environmental restoration funds stored in joint accounts.

BPK also recommended that the Head of SKK Migas provide strict sanctions to KKKS that do not reserve ASR funds. However, until now there is no specific regulation that regulates the use of ASR funds collected. On the other hand, by the end of 2017 there is the Mahakam Block which expires. In addition, there are eight oil and gas block contracts ending in 2018.

Secretary of the Directorate General of Oil and Gas of the Ministry of Energy and Mineral Resources Susyanto said that the draft Regulation of the Minister of Energy and Mineral Resources has entered the final stage. The plan, on Friday (22/12) will be refinement first.

According to him, the ESDM Ministry has requested input from business actors related to the substance set in the new beleid.

"The plan of Friday [today] is done the discussion of perfection," he said

However, he did not mention whether the certainty about the old contract that does not include the ASR's reserve obligations still has to set aside funds. Susyanto ensures the technical well closure and the implementation of international standards such as the advice of business actors will be regulated in the new regulations.

Previously, Director of Upstream Oil and Gas Upstream Business Development of the Ministry of ESDM Tunggal said that the obligation to carry out environmental restoration and permanent dismantling of facilities and facilities must be carried out by all contractors if the managed work area is out of contract.

Although some long-term contracts signed before the 90s have not been regulated on post-mining obligations, he believes the new contract to be signed will accommodate the obligations to the terms and conditions of the contract.

According to him, ASR's allowance for removal of funds will be required on new work areas, terminations or management transfers. 

    Separately contacted, Executive Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong hoped that additional obligations for contractors who do not include the obligation to reserve ASR funds can be determined by agreement. In addition, he also hopes that the government to consider the conditions in each work area so that it still supports investment.

The existence of new or additional obligations when the KKS [cooperation contract] does not stipulate that such obligations can be carried out as long as there is agreement between the PSC contractors and the government so as not to contradict the principle of contract sanctity.

IN INDONESIA

7 Tahun Tanpa Aturan Main

Setelah 7 tahun tidak memiliki aturan yang jelas, pemerintah segera menerbitkan Peraturan Menteri ESDM yang akan mengatur soal kewajiban bagi kontraktor minyak dan gas bumi untuk mengalokasikan dana pemulihan eks blok minyak dan gas bumi.

     Setelah kegiatan eksploitasi migas di suatu lapangan berahir, kontraktor sudah seharusnya melakukan kegiatan pemulihan bekas sumur migas tersebut. 

      Namun, hingga saat ini belum diatur secara jelas tentang kewajiban bagi kontraktor kontrak kerja sama untuk menyisihkan dana pemulihan bekas sumur migas tersebut. Padahal, hingga 2025 ada 35 kontrak migas yang akan berakhir.

Mengacu pada Pasal 17, Peraturan Pemerintah No. 79/2010 tentang Biaya Operasi yang Dapat Dikembalikan, Menteri ESDM dan SKK Migas segera berkoordinasi menyusun dan menetapkan tata cara penggunaan dana pemulihan lahan pascatambang (abandonment and site restoration/ASR). Kontraktor menyisihkan dana untuk ASR ke dalam rekening bersama SKK Migas.

Selain Peraturan Pemerintah 79, Badan Pemeriksa Keuangan (BPK) dalam Iaporan Keuangan Pemerintah Pusat 2015 merekomendasikan agar pemerintah menyusun dan menetapkan kebijakan akuntansi terkait dengan pencadangan dana pemulihan lingkungan tersebut yang disimpan di dalam rekening bersama.

BPK pun merekomendasikan agar Kepala SKK Migas memberikan sanksi secara tegas kepada KKKS yang tidak mencadangkan dana ASR. Namun, hingga kini belum ada peraturan khusus yang mengatur tentang cara penggunaan dana ASR yang terkumpul. Di sisi lain, pada akhir 2017 terdapat Blok Mahakam yang habis masa kontraknya. Selain itu, ada delapan kontrak blok migas berakhir pada 2018.

Sekretaris Direktorat Jenderal Minyak dan Gas Bumi Kementerian ESDM Susyanto mengatakan bahwa draf Peraturan Menteri ESDM telah masuk tahap final. Rencananya, pada hari Jumat (22/12) akan dilakukan penyempurnaan terlebih dahulu.

    Menurutnya, Kementerian ESDM telah meminta masukan dari pelaku usaha terkait dengan substansi yang diatur dalam beleid baru tersebut.

“Rencananya hari Jumat [hari ini] dilakukan pembahasan penyempurnaan,” ujarnya 

Namun, dia tidak menyebut apakah kepastian tentang kontrak lama yang tidak mencantumkan kewajiban pencadangan dana ASR tetap harus menyisihkan dana. Susyanto memastikan teknis penutupan sumur dan penerapan standar internasional seperti saran pelaku usaha akan diatur dalam regulasi baru.

Sebelumnya, Direktur Pembinaan Usaha Hulu Minyak dan Gas Bumi Kementerian ESDM Tunggal mengatakan, kewajiban untuk melakukan pemulihan lingkungan dan pembongkaran fasilitas dan sarana secara permanen harus dilakukan seluruh kontraktor bila wilayah kerja yang dikelola habis masa kontraknya.

Kendati pada beberapa kontrak kerja sama lama yang ditandatangani sebelum tahun 90-an belum diatur tentang kewajiban pascatambang, dia menilai, kontrak baru yang nanti ditandatangani akan mengakomodasi kewajiban tersebut pada syarat dan ketentuan kontrak. 

Menurutnya, tanggung jawab penyisihan dana ASR akan diwajibkan pada wilayah kerja baru, terminasi maupun alih kelola.

    Dihubungi terpisah, Direktur Eksekutif Indonesian Petroleum Association (IPA) Marjolijn Wajong berharap agar kewajiban tambahan bagi kontraktor yang tidak mencantumkan kewajiban untuk mencadangkan dana ASR bisa ditetapkan berdasarkan kesepakatan. Selain itu, dia pun berharap agar pemerintah mempertimbangkan kondisi di masing-masing wilayah kerja sehingga tetap mendukung investasi.

Adanya kewajiban baru atau tambahan ketika KKS [kontrak kerja sama] tidak mengatur tentang kewajiban tersebut dapat dilakukan sepanjang adanya kesepakatan antara kontraktor KKS dan pemerintah sehingga tidak benentangan dengan prinsip contract sanctity [asas kesakralan kontrak].

Bisnis Indonesia, Page-30, Friday, Dec 22, 2017

Payment Scheme Not Set

PT Pertamina Hulu Energi ONWJ and PT Hulu Migas Jabar ONWJ have not set a method of payment for a 10% interest in the Offshore North West Java Offshore Block (ONWJ) located off the north coast of West Java.

Provincial Government of West Java and DKI Jakarta get 10% interest from ONWJ Block through PT Hulu Migas Jabar ONWJ The transfer of 10% of ONWJ shares has been agreed by PT Pertamina and West Java Provincial Government. As a result of the payment of 10% of the shares, all operational costs of ONWJ Block are covered by PT Pertamina Hulu Energi ONWJ as operator.

President Director of PT Pertamina Hulu Energi, a subsidiary of Pertamina, Gunung Sardjono Hadi, said that until now it has not set a payment mechanism of 10% of ONWJ Block's shares to be transferred to BUMD Migas Hulu West Java.

Mountain ensures that West Java BUMD can get 10% of net profit from the sale of ONWJ Block production. The transition of 10% of PHE ONWJ management to the BUMD is based on Minister of Energy and Mineral Resources Regulation no. 37/2016 on the Terms of Participating Interest 10% of the Oil and Gas Working Area. Meanwhile, BUMD does not need to pay cash value and manage parts.

BUMDs pay 10% of the right to manage by installments. On the other hand, the amount of installment will not reduce all profits obtained so that BUMDs can still benefit from the production of certain blocks that are deposited to the regional budget and expenditure (APBD).

"The payment mechanism in detail has not been discussed, but the bottom line and the resulting revenue will be reduced [cost] first then divided by 90%: 10%," he said.

According to him, after the transfer of shares of participation, because BUMD does not deposit the cost for the next operation, it bear all the burden of cost. In fact, under a contract signed on January 18, 2017, ONWJ Block implements a gross shareholder or gross split contract so that any investment and operating expenses will no longer be returned from the government.

In addition, there is an investment commitment in the first 3 years with a value of US $ 82.3 million and US $ 8.5 billion during the contract period of operation, ie 20 years. The plan, in 2018, it will invest US $ 537 million. The ONWJ Block oil production by the end of this year is projected at 71,522 barrels per day (bph) and 776 million standard cubic feet per day (MMscfd) gas.

IN INDONESIA

Skema Pembayaran Belum Ditetapkan

PT Pertamina Hulu Energi ONWJ dan PT Hulu Migas Jabar ONWJ belum menetapkan cara pembayaran 10 % saham partisipasi di Blok Offshore North West Java (ONWJ) yang berlokasi di lepas pantai utara Jawa Barat.

Pemerintah Provinsi Jawa Barat dan DKI Jakarta mendapatkan 10% saham partisipasi dari Blok ONWJ melalui PT Hulu Migas Jabar ONWJ Pengalihan 10 % saham ONWJ itu telah disepakati oleh PT Pertamina dan Pemerintah Provinsi Jawa Barat. Dampak dari belum ditetapkannya cara pembayaran 10% saham itu, seluruh biaya operasi Blok ONWJ ditanggung oleh PT Pertamina Hulu Energi ONWJ sebagai operator.

Presiden Direktur PT Pertamina Hulu Energi, anak perusahaan Pertamina, Gunung Sardjono Hadi mengatakan bahwa pihaknya hingga saat ini belum menetapkan mekanisme pembayaran 10% saham partisipasi Blok ONWJ yang dialihkan kepada BUMD Migas Hulu Jawa Barat.

Gunung memastikan BUMD Jawa Barat itu bisa mendapatkan 10% keuntungan bersih dari penjualan hasil produksi Blok ONWJ Peralihan 10% bagian kelola PHE ONWJ kepada BUMD mengacu pada Peraturan Menteri ESDM No. 37/2016 tentang Ketentuan Penawaran Participating Interest 10% pada Wilayah Kerja Minyak dan Gas Bumi. Adapun, BUMD tidak perlu membayar tunai nilai dan bagian kelola.

BUMD membayar 10% hak kelola dengan cara mengangsur. Di sisi lain, besarnya angsuran tidak akan mengurangi seluruh keuntungan yang diperoleh sehingga BUMD tetap bisa mendapatkan keuntungan dari hasil produksi blok tertentu yang disetor ke anggaran pendapatan dan belanja daerah (APBD).

“Mekanisme pembayaran secara detail belum dibahas, tetapi intinya dan revenue [laba] yang dihasilkan akan dikurangi cost [biaya] dulu lalu kemudian dibagi 90%:10%,” ujarnya.

Menurutnya, pasca peralihan saham partisipasi pun, karena BUMD tidak menyetor biaya untuk kegiatan operasi berikutnya, pihaknya menanggung seluruh beban biaya. Padahal, berdasarkan kontrak yang ditandatangani pada 18 Januari 2017, Blok ONWJ menerapkan kontrak bagi hasil kotor atau gross split sehingga setiap investasi dan biaya operasi tidak lagi mendapat pengembalian dari pemerintah.

Selain itu, terdapat komitmen investasi pada 3 tahun pertama dengan nilai US$ 82,3 juta dan US$ 8,5 miliar selama masa kontrak beroperasi, yakni 20 tahun. Rencananya, pada 2018, pihaknya akan menginvestasikan US$ 537 juta. Produksi minyak Blok ONWJ hingga akhir tahun ini diproyeksikan 71.522 barel per hari (bph) dan gas 776 juta kaki kubik per hari (million standard cubic feet per day/MMscfd).

Bisnis Indonesia, Page-30, Friday, Dec 22, 2017

Energi Mega Persada to up spending in 2018

Publicly listed oil and gas firm PT Energi Mega Persada (ENRG) plans to boost its capital expenditure to US$341 million in 2018 from a mere $60 million this year to increase the development of several blocks following a significant drop in its production throughout this year.

ENRG, affiliated with politician and tycoon Aburizal Bakrie, saw its oil and gas production average at 27,800 barrels of oil equivalent per day (boepd) between January and September, down 34.27 percent year-on-year. As a result, its revenues fell by 38 percent to $242.3 million.

The downward trend was triggered by the government’s decision to terminate ENRG’s contract in the Offshore Northwest Java (ONWJ) oil and gas block in January and fully shift the operatorship to Pertamina Hulu Energi (PHE),  a subsidiary of stateowned energy giant Pertamina.

Previously the block was jointly operated by PHE with a participating interest of 58.28 percent, ENRG with 36.72 percent and Kuwait Foreign Petroleum Exploration Company (Kufpec) with 5 percent.

“The loss of the ONWJ block has decreased our production and revenues by more than 30 percent,” ENRG president director lmam P Agustino said on Wednesday “Next year, we plan to boost our production by 10 percent through a number of development programs in several blocks, particularly the ones that have big potential but have yet to be exploited.”

ENRG has prepared $266 million from its own cash flow to start next year the second development phase of the Terang Sirasun Batur field in Kangean block, East Java, which produced 42 barrels of oil per day (bopd) and 118.7 million standard cubic feet per day (mmscfd) of gas throughout 2016.

Through such a plan, the firm expects to generate an additional 130 mmscfd of gas from the Kangean block starting in 2019. Furthermore, ENRG plans to allocate around $75 million to further develop the Bentu block in Riau. The block currently produces 60 mmscfd of gas, most ofwhich is delivered to Pertamina’s Dumai refinery in the same province.

“We have prepared a plan of further development [POFD] for the Bentu block so that we can produce an additional 60 mmscfd of gas from it. Hence, we expect to have a production rate of 120 mmscfd by the first quarter of 2019 at the latest,” Imam said.

In September, the government granted a 20-year extension to ENRG’s contract in the Bentu block, initially slated to expire in 2021. Hence, the company will operate the block until 2041 using the cost recovery scheme.

Moreover, ENRG has submitted a proposal to the government to extend its contract in the Malacca Strait block, slated to expire in 2020. However, when extended, the company intends to use the new gross split scheme in operating the block instead of maintaining the current cost recovery mechanism.

Then, it aims to start drilling activities at the Secanggang and Anggor fields in the Gebang block, North Sumatra, next year to boost production by an additional 60 mmscfd of gas in the future.

To improve its financial health, ENRG has announced a plan to restructure its debts Worth Rp 437.2 billion ($32.3 million) from five different creditors Greenwich lnternational, Stallion Investment, Ultrapro, PT Wira Cipta Perkasa and PT Prime Petro Services.

Jakarta Post, Page-13, Thursday, Dec 21, 2017

Obstacles to Oil and Gas Participation Rights to Local Government

The provincial government of East Kalimantan and the local government of Kutai Kartanegara are still at loggerheads over the 10% share distribution. The realization of 10% participating interest (PI) still encounters many problems. Of the three regions only one part of the participation has been realized, namely PT Pertamina Hulu Energy Offshore North West Java (PHE ONWJ) to PT Migas Hulu Jabar ONWJ.

As for the Mahakam Block and Muriah Block until now has not been done. Chairman of the Mahakam Block Management Task Force of the East Kalimantan Provincial Government, Ichwansyah stated, according to Minister of Energy and Mineral Resources Regulation no. 37/2016 on Terms of Participating Interest 10% Supply on Oil and Gas Working Area, East Kalimantan Provincial Government gets allotment (16.65% shares and 33.35% shares for Kutai Kartanegara Regency from PI 10% Mahakam Block) However, Kutai Kartanegara still asks for additional shares of Mahakam block from the central government.

The Mahakam block

"They want to ask for more, I do not know if 5% or more," they said.

Ichwansyah, stated that from the meeting of Mahakam Block with Deputy Minister of Energy and Mineral Resources Arcandra Tahar last week, Kutai Kartanegara's desire will be discussed with ESDM Minister Ignatius Jonan in the near future.

"There is a decision 1 day-2 today about the additional shares," he said.

Who will manage the portion of the shares of the Provincial Government is PT Mandiri Migas Pratama, BUMD East Kalimantan Provincial Government. While Kutai Kartanegara not know who will manage. It could later use BUMDs belonging to the Provincial Government first.

Director of Upstream Oil and Gas Upstream Development of the Ministry of ESDM Tunggal admitted, related to P1 10% Mahakam there is no agreement between Kutai Kartanegara and East Kalimantan Provincial Government.

While the special Central Java Provincial Government, Tunggal explain if PI 10% Blok Muriah is in Central Java Provincial Government. Furthermore, SKK Migas wrote to Petronas Carigali which is the operator of Muriah Block to offer PI 10% to BUMD Central Java.

"We do not yet know whether the Provincial Government of Central Java has proposed BUMD according to the regulations to SKK Migas," he added.

Corporate Affairs & Administration Petronas Carigali Indonesia Andiono Setiawan has not said much.

"We are waiting for the government's decision," he said

While 10% of PI Block ONWJ is smooth, Vice President of Relation PHE Aji Prayudi said, BUMD from West Java "picked up" by Pertamina in terms of investment cost "The government does not want to be as it used to, so according to Pertamina rules can hold," he said.

In addition to investment costs, another thing is the cash flow of Pertamina against ONWJ Block project because it is now using a gross split scheme. This year PHE ONWJ is targeting production of 30,000 barrels per day and gas 126.8 million standard cubic feet per day. Realization until Wednesday (20/12) 98% of the target 4%.

IN INDONESIA

Kendala Hak Partisipasi Blok Migas ke Pemerintah Daerah

Pemerintah Provinsi Kalimantan Timur dan Pemerintah Daerah Kutai Kartanegara masih berselisih tentang pembagian saham 10%. Realisasi penyerahan hak partisipasi atau participating interest (PI) 10% masih menemui banyak masalah. Dari tiga daerah hanya satu bagian partisipasi yang sudah terealisasi, yakni PT Pertamina Hulu Energi Offshore North West Java (PHE ONWJ) kepada PT Migas Hulu Jabar ONWJ. 

Sementara untuk Blok Mahakam dan Blok Muriah sampai saat ini belum dilakukan. Ketua Satuan Tugas Pengelolaan Blok Mahakam Pemerintah Provinsi Kalimantan Timur Ichwansyah menyatakan, sesuai Peraturan Menteri ESDM No. 37/2016 tentang Ketentuan Penawaran Participating Interest 10% pada Wilayah Kerja Minyak dan Gas Bumi, Pemerintah Provinsi Kalimantan Timur mendapatkan jatah (16,65% saham dan 33,35% saham untuk Kabupaten Kutai Kartanegara dari PI 10% Blok Mahakam. Namun, Kabupaten Kutai Kartanegara masih meminta tambahan saham Blok Mahakam dari pemerintah pusat.

"Mereka mau minta tambahan, saya tidak tahu apakah 5% atau lebih lagi. Intinya mereka minta kebijakan lain," ujarnya. 

Ichwansyah, menyatakan, dari hasil rapat Blok Mahakam dengan Wakil Menteri ESDM Arcandra Tahar pekan lalu, keinginan Kutai Kartanegara akan dibicarakan dengan Menteri ESDM Ignatius Jonan dalam waktu dekat. 

“Ada keputusan 1 hari-2 hari ini soal tambahan saham itu, " ungkap dia. 

Yang akan mengelola porsi saham bagian Pemerintah Provinsi itu adalah PT Mandiri Migas Pratama , BUMD Pemerintah Provinsi Kalimantan Timur. Sedangkan Kutai Kartanegara belum tahu siapa yang akan mengelola. Bisa saja nanti memakai BUMD milik Pemerintah Provinsi dahulu.

Direktur Pembinaan Usaha Hulu Migas Kementerian ESDM Tunggal mengakui, terkait P1 10% Mahakam memang belum ada kesepakatan antara Kutai Kartanegara dan Pemerintah Provinsi Kalimantan Timur. Sementara khusus Pemerintah Provinsi Jawa Tengah, Tunggal menjelaskan bila PI 10% Blok Muriah ada di Pemerintah Provinsi Jawa Tengah. Selanjutnya SKK Migas menyurati Petronas Carigali yang merupakan operator Blok Muriah untuk menawarkan PI 10% ke BUMD Jawa Tengah. 

"Kami belum tahu apakah Pemerintah Provinsi Jateng sudah mengusulkan BUMD yang sesuai peraturan ke SKK Migas," imbuhnya.

Corporate Affairs & Administration Petronas Carigali Indonesia Andiono Setiawan belum banyak bicara. 

"Kami menunggu keputusan pemerintah," kata dia 

Sementara 10% PI Blok ONWJ sudah mulus, Vice President Relation PHE Aji Prayudi bilang, BUMD dari Jawa Barat "digendong" oleh Pertamina dalam hal biaya investasi "Pemerintah tidak mau lagi seperti dulu, jadi menurut aturan Pertamina bisa menggendong," kata dia. 

Selain biaya investasi, hal lain adalah cash flow Pertamina terhadap proyek Blok ONWJ ini karena kini menggunakan skema gross split. Tahun ini PHE ONWJ menargetkan produksi 30.000 barel per hari dan gas 126.8 juta standar kaki kubik per hari. Realisasinya sampai Rabu (20/12) 98% dari target 4%.

Kontan, Page-14, Thursday, Dec 21, 2017

PKPK Expects to Reach Rp. 24 Billion

PT Perdana Karya Perkasa Tbk hopes to book a better income next year. Director of Perdana Karya Perkasa Untung Haryono explained that his company targets business revenue next year to reach Rp 24 billion or increase by 100 percent compared to this year's revenue prediction.

The increase in operating revenues will be derived from two existing contracts and at least one new contract next year.

"The new project hopefully can be one that, because of multiyears, for three years. Partially finish that now," said Untung.

Issuer coded in the PKPK Indonesia Stock Exchange has been recorded holding two contracts consisting of contracts Tatun Wall Connection (Mechanical) Package of Total E & P Indonesie valued at USD 324.5 billion with a term until December 2018.

And fabrication Services Works for Santos (Madura Offshore) Pty Ltd valued at Rp 44.1 billion for January 2019. There are also four new tenders next year which will be the company's target.

The four projects consist of three tenders for oil and gas work and a construction tender. The next year's oil and gas tender comes from the offering of blanket fabricatioan and construction services (project) from Santos worth Rp 40 billion, blanket conctraction services (maintenance) from Santos worth Rp 40 billion and drilling location preparation from PT Greatwall, Drilling Asia Pacific worth "Rp 36 billion.

"It is expected that these three days (oil and gas) can get one," said Untung.

A construction auction will come from landfill and land preparation work for PT Pupuk Kaltim worth Rp 100 billion. The land preparation work for Pupuk Kaltim should not be a new job for PKPK.

"We want to try to get in there too, we have been able to project Pupuk Kaltim 2014 or 2015 for landfill and land preparation for this industry to build factories," said Untung.

In addition to oil and gas and construction projects, Untung said the company has no plans to try to develop new business. Understandably, the company is still experiencing losses until the end of 2017.

"Until the end of the year is still a loss as well, but we are still small, as of September still losses Rp 4 billion, Rp 2 billion in December 2010. Next year could be a surplus," said

So do not be surprised if the company also does not allocate capital expenditure or capital expenditure (capex) for next year.

"Because we have been losing a few years, so if suppose there is a need that is required from the tender it should have or at least if we do not have, we are looking for partners who have or lease," said Untung.

Untung said, the company is currently trying to reduce losses for better performance. Thus the Prime Karya Perkasa can develop the business.

"Hopefully, if we are back to normal, we will think about business development again," said Perdana Karya Perkasa, targeting to earn Rp 2.29 billion profit next year, but it is optimistic that the target can be achieved because the performance is getting better.

IN INDONESIA

PKPK Berharap Meraih Rp. 24 Miliar

PT Perdana Karya Perkasa Tbk berharap membukukan pendapatan yang lebih baik lagi di tahun depan. Direktur Perdana Karya Perkasa Untung Haryono menjelaskan, pihaknya menargetkan pendapatan usaha pada tahun depan bisa mencapai Rp 24 miliar atau naik sekitar 100% dibandingkan prediksi pendapatan tahun ini. 

Kenaikan pendapatan usaha ini akan didapat dari dua kontrak eksisting dan minimal satu kontrak baru di tahun depan. 

"Proyek baru mudah-mudahan bisa dapat satu itu, karena multiyears, selama tiga tahun. Sebagian menyelesaikan yang sekarang," kata Untung. 

Emiten berkode PKPK di Bursa Efek Indonesia ini tercatat telah menggenggam dua kontrak yang terdiri dari kontrak Tatun Wall Connection (Mechanical) Package dari Total E&P Indonesie senilai Rp 324,5 miliar dengan jangka waktu hingga Desember 2018. 

Dan pekerjaan  fabrication Services untuk Santos (Madura Offshore) Pty Ltd senilai Rp 44,1 miliar dengan jangka waktu Januari 2019. Ada juga empat tender baru di tahun depan yang akan menjadi target perseroan itu. 

Keempat proyek tergebut terdiri dari tiga tender pekerjaan migas dan satu tender konstruksi. Tender migas di tahun depan  berasal dari tender pekerjaan blanket fabricatioan and construction services (project) dari Santos dengan nilai Rp 40 miliar, pekerjaan blanket conctraction services (maintenance) dari Santos senilai Rp 40 miliar dan drilling location preparation dari PT Greatwall, Drilling Asia Pacific senilai "Rp 36 miliar. 

"Diharapkan Hari tiga ini (migas) bisa memperoleh salah satu," kata Untung. 

Sementara satu lelang konstruksi akan berasal dari pekerjaan pengurukan dan persiapan lahan untuk PT Pupuk Kaltim senilai Rp 100 miliar. Pekerjaan persiapan lahan untuk Pupuk Kaltim ini seharusnya bukan pekerjaan baru bagi PKPK. 

"Kami mau mencoba masuk ke situ juga. Kami pernah dapat proyek Pupuk Kaltim tahun 2014 atau 2015 untuk pengurukan dan persiapan lahan untuk industri ini membangun pabrik," kata Untung.  

Selain proyek migas dan konstruksi, Untung bilang perseroan ini belum memiliki rencana untuk mencoba mengembangkan bisnis baru. Maklum, perseroan ini masih mengalami kerugian hingga akhir tahun 2017. 

"Sampai akhir tahun masih rugi juga, tapi kami sudah semakih kecil. Per September masih rugi Rp 4 miliar, bulan Desember Rp 2 miliaran. Tahun depan sudah bisa surplus," kata 

Maka tidak heran jika perseroan juga tidak mengalokasikan belanja modal atau capital expenditure (capex) untuk tahun depan. 

"Karena kami beberapa tahun ini selalu rugi, jadi kalau misalkan ada kebutuhan yang dipersyaratkan dari tender itu harus memiliki atau minimal kalau kami tidak punya, kami mencari mitra yang punya atau sewa,"kata Untung.

Untung menyatakan, perseroan tersebut saat ini pun sedang berusaha untuk mengurangi kerugian agar kinerja bisa lebih baik. Dengan begitu Perdana Karya Perkasa bisa mengembangkan usaha. 

"Mudah-mudahan kalau sudah kembali normal, kami akan memikirkan pengembangan usaha lagi, katanya. Perdana Karya Perkasa pada tahun depan menargetkan bisa membuklikan laba senilai Rp 2,29 miliar. Untung optimistis, target tersebut bisa tercapai karena kinerja sudah semakin baik.

Kontan, Page-14, Wednesday, Dec 20, 2017