Medco committed to Increase Oil and Gas Production

PT Medco E&P Indonesia continues to increase production, through various oil and gas exploration and exploitation activities in all work areas. This effort is a company's commitment in supporting the government to maintain national energy security. 

    

    Medco noted that oil and gas production in the first semester reached 86 thousand barrels of oil equivalent per day (BOEPD). The realization increased compared to the same period last year which was around 82,400 boepd.

Medco E&P Vice President of Relations and Security Drajat Panjawi said the realization of oil and gas production in the first half of this year came from 14 work areas spread across Indonesia. He emphasized that the production results were Medco's commitment in maintaining national energy security.

"The company is able to maintain, even increase total production in line with the integration of Ophir operations," Drajad said at a media gathering in Jakarta.

Ophir Energy plc

The integration of Ophir's operations is in line with the completion of the acquisition of Ophir Energy plc in May. Ophir's assets greatly complement MedcoEnergi's existing portfolio and this business combination makes the company a leading regional oil and gas business operator in Southeast Asia. 

     Ophir's acquisition will increase the company's production performance this year by 29% or 110 thousand BOEPD. Not only that, the combined magnitude of 2P reserves and 2C resources rose by 86% to 1.44 billion barrels of oil equivalent.

"This integration can confirm Medco E&P's position as a leading energy company in Southeast Asia," said Drajad.

In the same place, Head of the Program and Communication Division of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Wisnu Prabawa Taher said, national oil production is currently around 750 thousand barrels of oil per day (BPD). However, SKK Migas targets to increase production to 1 million BPD by 2030. 

     He revealed, there are four strategies to achieve this target. In particular, it will maintain existing production, convert resources into production, intensify advanced oil recovery (EOR) drilling techniques, and continue to explore.

"Exploration is important because when we increase production it is through exploration," he said.

Wisnu revealed that around the US $ 1.7 billion in exploration funds came from the Certain Work Commitments (KKP) in the Cooperation Contract. Exploration activities are carried out not only within the oil and gas Working Area (WK) but also in open areas to encourage more new oil and gas fields to be discovered.

"When we talk about the exploration of how to fund investment, we have a KKP," said Wisnu.

IN INDONESIA

Medco Berkomitme Tingkatkan Produksi Migas

PT Medco E&P Indonesia terus berupaya meningkatkan produksi, melalui berbagai aktivitas eksplorasi dan eksploitasi minyak dan gas bumi di semua wilayah kerja. Upaya ini merupakan komitmen perusahaan dalam mendukung pemerintah menjaga ketahanan energi nasional. 

      Medco mencatat produksi migasnya pada semester pertama lalu mencapai rata-rata 86 ribu barel setara minyak per hari (barrel oil equivalent per day/BOEPD). Realisasi tersebut meningkat dibandingkan periode yang sama tahun lalu sekitar 82.400 boepd.

Vice President Relations and Security Medco E&P Drajat Panjawi mengatakan, realisasi produksi migas di semester pertama tahun ini tersebut berasal dari 14 wilayah kerja yang tersebar di seluruh Indonesia. Dia menegaskan hasil produksi itu merupakan komitmen Medco dalam menjaga ketahanan energi nasional.

“Perusahaan mampu mempertahankan, bahkan meningkatkan total produksi seiring dengan terintegrasinya operasi Ophir,” kata Drajad dalam acara media gathering di Jakarta.

Integrasi operasi Ophir seiring dengan rampungnya akuisisi Ophir Energy plc pada Mei kemarin. Aset Ophir sangat melengkapi portofolio MedcoEnergi yang ada dan gabungan bisnis ini menjadikan perusahaan sebagai pelaku usaha minyak dan gas regional yang terkemuka di Asia Tenggara. 

     Akuisisi Ophir ini akan meningkatkan kinerja produksi perusahaan tahun ini sebesar 29% atau menjadi 110 ribu boepd. Tidak hanya itu, besaran gabungan cadangan 2P dan sumber daya 2C naik sebesar 86% menjadi 1,44 miliar barel setara minyak.

“Integrasi ini dapat menegaskan posisi Medco E&P sebagai perusahaan energi terkemuka di Asia Tenggara,” tutur Drajad.

Di tempat yang sama, Kepala Divisi Program dan Komunikasi Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Wisnu Prabawa Taher menuturkan, produksi minyak nasional saat ini sekitar 750 ribu barel minyak per hari (bph). Namun, SKK Migas menargetkan peningkatan produksi menjadi 1 juta bph pada 2030. 

     Dia mengungkap, ada empat strategi untuk mencapai target tersebut. Rincinya, pihaknya akan mempertahankan eksisting produksi, mengubah sumber daya menjadi produksi, menggencarkan teknik lanjutan pengeboran (enhanced oil recovery/EOR), serta terus melakukan eksplorasi.

“Eksplorasi penting, karena ketika kita menaikan produksi itu adalah melalui eksplorasi,” ujarnya.

Wisnu mengungkapkan, dana eksplorasi tersedia sekitar US$ 1,7 miliar yang berasal dari Komitmen Kerja Pasti (KKP) dalam Kontrak Kerja Sama. Kegiatan eksplorasi yang dilakukan bukan hanya di dalam area Wilayah Kerja (WK) migas, tetapi juga di area terbuka untuk mendorong ditemukan lebih banyak lapangan migas baru. 

“Kalau kita bicara eksplorasi bagaimana mendanai investasi, kita punya KKP,” kata Wisnu.

Investor Daily, Page-9, Monday, Dec 2,  2019

End of 2019, Kedung Keris Produces

ExxonMobil Cepu Limited (EMCL) will complete the Kedung Keris field project by the end of 2019. Later the project will increase EMCL's crude oil production capacity to around 10,000 barrels per day (BOPD). Its oil reserves are estimated at 20 million BOPD. EMCL Spokesperson and Public Relations Rexy Mawardijaya said, currently the project progress is more than 90 percent.

"Initial oil is expected to flow by the end of 2019," he said when to meet at the EMCL headquarters in Bojonegoro.

offloading vessel (Gagak Rimang)

He explained, the construction of the Kedung Keris field project had been operating since 2017. One of the stages was the construction of a 16-kilometer pipeline from the Kedung Keris field to the Banyu Urip field. Because crude oil processing takes place in the Banyu Urip field. After that, the processing results are channeled from the Banyu Urip field to the floating storage and offloading vessel (Gagak Rimang) off the Tuban coast.

ExxonMobil Cepu Limited (EMCL) Field

EMCL has so far relied on crude oil production from wells in the Banyu Urip field whose total capacity reaches 220 thousand BOPD. So far the Banyu Urip field contributes around 25 percent to the total national oil production.

"This achievement is the highest among all Indonesia's oil fields," said Rexy.

The government has assigned EMCL to collaborate with Pertamina EP Cepu and the Cepu Block Participating Cooperation (PI) to manage the two Bojonegoro oil field. Namely, the Banyu Urip field in the Gayam Bojonegoro District and the Kedung Keris field in the Kalitidu Bojonegoro District.

IN INDONESIA

Akhir Tahun 2019, Kedung Keris Berproduksi

ExxonMobil Cepu Limited (EMCL) akan merampungkan proyek lapangan Kedung Keris pada akhir tahun 2019. Nanti proyek itu meningkatkan kapasitas produksi minyak mentah EMCL menjadi sekitar 10 ribu barel per hari (barrel oil per day atau BOPD). 

     Cadangan minyaknya diperkirakan mencapai 20 juta BOPD. Juru Bicara dan Humas EMCL Rexy Mawardijaya menyebutkan, saat ini progres pengerjaan proyek lebih dari 90 persen. 

”Minyak perdana diharapkan mengalir pada akhir 2019," katanya saat dijumpai di kantor pusat EMCL di Bojonegoro.

Dia menjelaskan, pembangunan proyek lapangan Kedung Keris beroperasi sejak 2017. Salah satu tahapnya adalah pembangunan pipa sepanjang 16 kilometer dari lapangan Kedung Keris ke lapangan Banyu Urip. Sebab, pengolahan minyak mentah berlangsung di lapangan Banyu Urip. Setelah itu, hasil pengolahannya disalurkan dari lapangan Banyu Urip ke floating storage and offloading vessel (kapal air muat terapung) Gagak Rimang di lepas pantai Tuban. 

Selama ini EMCL mengandalkan produksi minyak mentah dari sumur-sumur di lapangan Banyu Urip yang kapasitas totalnya mencapai 220 ribu BOPD. Sejauh ini lapangan Banyu Urip berkontribusi sekitar 25 persen terhadap total produksi minyak nasional. 

"Capaian ini merupakan yang tertinggi di antara seluruh lapangan minyak Indonesia,” papar Rexy.

Pemerintah menugasi EMCL bekerja Sama dengan Pertamina EP Cepu dan Badan Kerja Sama Participating Interest (PI) Blok Cepu untuk mengelola dua

lapangan minyak Bojonegoro. Yakni, lapangan Banyu Urip di Kecamatan Gayam Bojonegoro dan lapangan Kedung Keris di Kecamatan Kalitidu Bojonegoro.

Jawa Pos, Page-5, Saturday, Nov 30,  2019

Pertamina and Aramco Discuss Refinery Schemes

Forward-backward, until now the Cilacap Refinery development project has not been clear either. Even so, Pertamina is still optimistic that Saudi Aramco will invest in the refinery development project. Pertamina has offered two investment options to Aramco. Both also are still discussing the investment agenda in the joint project.

"Valuations are being discussed. If they don't agree, they will use (like) the Balikpapan Refinery scheme," said Nicke Widyawati, Director of Pertamina, Tuesday (11/26).

Nicke Widyawati

The Balikpapan Refinery Scheme referred to is that spinoffs are not carried out at existing refineries. This means that Pertamina and Aramco's joint venture will build a new refinery. If using this new scheme, the two parties will form a joint venture to build a new refinery facility in Cilacap. 

    This scheme also does not include the calculation of existing assets owned by Pertamina. Nicke hopes that Pertamina Aramco's investment partnership discussion can be completed by the end of this year.

Nicke hopes that Pertamina will remain the majority owner of the Cilacap RDMP project. In the Cilacap Refinery project, Pertamina has a 55% majority stake and Saudi Aramco controls 45%. 

     Acting Director-General of Oil and Gas at the ESDM Ministry, Djoko Siswanto, revealed that the government is preparing an alternative offer to Aramco to build a new refinery facility. Djoko said the government also invited Aramco to choose a new location for the project, as well as find partners or build refineries independently.

"The point is there are alternative offerings to Aramco. See the results of asset valuation first. If it's a deal, it can operate. If not, there are offers in other regions. Aramco can be alone, can be together," said Djoko.

Even so, the Ministry of Energy and Mineral Resources emphasized that the option would only apply if Pertamina and Aramco did not reach an agreement on the Cilacap Refinery project. The investment valuation of the Cilacap Refinery is still calculated by the audit agency. 

     There is an estimated value of the valuation between Pertamina and Aramco. The initial investment value is estimated at the US $ 5.6 billion or equivalent to Rp. 78.4 trillion, assuming an exchange rate of Rp. 14,000 per US dollar. While Aramco submitted a bid worth US $ 2.8 billion.

IN INDONESIA

Pertamina dan Aramco Bahas Skema Kilang

Maju mundur, hingga kini proyek pengembangan Kilang Cilacap belum ada kejelasan juga. Meski begitu, Pertamina masih optimistis Saudi Aramco berinvestasi di proyek pengembangan kilang itu. Pertamina sudah menawarkan dua opsi investasi kepada Aramco. Keduanya juga masih masih membahas agenda investasi di proyek bersama itu.

"Valuasi sedang dibahas. Jika tidak sepakat, maka akan pakai (seperti) skema Kilang Balikpapan" kata Nicke Widyawati, Direktur Utama Pertamina, Selasa (26/11).

Skema Kilang Balikpapan yang dimaksud adalah tidak dilakukan spin-off pada kilang eksisting. Artinya, kongsi Pertamina dan Aramco akan membangun kilang baru. Jika menggunakan skema baru ini, kedua belah pihak akan membentuk perusahaan patungan untuk membangun fasilitas kilang baru di Cilacap. Skema ini juga tidak memasukkan perhitungan aset eksisting yang dimiliki Pertamina. Nicke berharap, pembahasan kongsi investasi Pertamina Aramco bisa rampung pada akhir tahun ini.

Nicke berharap, Pertamina tetap menjadi pemilik mayoritas proyek RDMP Cilacap. Pada proyek Kilang Cilacap, Pertamina memiliki saham mayoritas 55% dan Saudi Aramco menguasai 45%. 

     Pelaksana tugas (plt) Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Djoko Siswanto mengungkapkan, pemerintah menyiapkan penawaran alternatif kepada Aramco untuk membangun fasilitas kilang baru. 

     Djoko menyatakan, pemerintah juga mempersilahkan Aramco memilih lokasi baru untuk proyek tersebut, serta mencari mitra atau membangun kilang secara mandiri.

"Intinya ada beberapa alternatif penawaran kepada Aramco. Melihat hasil valuasi aset dulu. Kalau itu deal, bisa beroperasi. Kalau tidak, ada penawaran di wilayah lain. Aramco bisa sendiri, bisa bersama-sama," tukas Djoko.

Meski begitu Kementerain ESDM menegaskan, opsi tersebut baru berlaku apabila Pertamina dan Aramco tidak mencapai kesepakatan di proyek Kilang Cilacap. Valuasi investasi Kilang Cilacap masih dihitung oleh lembaga audit. 

     Ada perkiraan nilai Valuasi antara Pertamina dan Aramco. Nilai awal investasi diperkirakan US$ 5,6 miliar atau setara Rp 78,4 triliun dengan asumsi kurs Rp 14.000 per dollar AS. Sedangkan Aramco mengajukan penawaran senilai US$ 2,8 miliar.

Kontan, Page-14, Thursday, Nov 28,  2019

Next year, Pertamina EP will pursue production of 85,000 BPD

PT Pertamina EP targets 2020 oil production to reach 85,000 barrels per day (BPD). President Director of Pertamina EP Nanang Abdul Manaf said the 2020 oil production target was not much different from the 2019 target.

"Pertamina EP's oil production target is 85,000 BPD. Gas is relatively stable or the same as this year," he told KONTAN while attending the 2019 Pertamina Energy Forum.

The Pertamina EP gas production target this year is 965 million cubic feet per day (MMSCFD). To pursue the production target, Pertamina EP will drill 108 development wells and 10 exploration wells starting next year. 

    Nanang said that currently 85 development wells have been drilled and 12 wells are still in the drilling process until the end of 2019. The determination of the production target is influenced by several considerations. One of them is the decline in production in a number of oil and gas fields.

IN INDONESIA

Tahun Depan, Pertamina EP Kejar Produksi 85.000 Bph

PT Pertamina EP menargetkan produksi minyak tahun 2020 sebesar 85.000 barel per hari (bph). Presiden Direktur Pertamina EP Nanang Abdul Manaf mengatakan, target produksi minyak tahun 2020 tidak jauh berbeda dengan target tahun 2019.

"Target produksi minyak Pertamina EP sebesar 85.000 bph. Untuk gas relatif stabil atau sama seperti tahun ini,” ungkap dia kepada KONTAN saat menghadiri acara Pertamina Energy Forum 2019.

     Adapun target produksi gas Pertamina EP tahun ini sebesar 965 juta kaki kubik per hari (mmscfd). Untuk mengejar target produksi tersebut, Pertamina EP akan mengebor 108 sumur pengembangan dan 10 sumur eksplorasi mulai tahun depan. 

  Nanang menyatakan, saat ini telah dilakukan pengeboran sumur pengembangan sebanyak 85 sumur dan 12 sumur masih dalam proses pengeboran hingga akhir tahun 2019. Penetapan target produksi tersebut dipengaruhi beberapa pertimbangan. Salah satunya adalah penurunan produksi pada sejumlah lapangan minyak dan gas.

Kontan, Page-14, Thursday, Nov 28,  2019

Minister of Energy and Mineral Resources Encourages Pertamina to Accelerate Refinery Project

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif encouraged Pertamina to accelerate the completion of six refinery projects that are being worked on. The six refineries each have four upgrading and upgrading capacity projects and two new refinery projects.

"The refinery project is expected to increase oil processing capacity from 1 million barrels per day (BPD) to 2 million BPD," Arifin said when opening the 2019 Pertamina Energy Forum.

The upgrading project is carried out by Pertamina for four existing refineries, namely refineries in Balikpapan, East Kalimantan, Balongan, West Java, Dumai Riau, and Cilacap, Central Java. While the new refinery projects, namely Tuban Refinery in East Java and Bontang Refinery in East Kalimantan. The entire refinery project is rolling. In working on refineries, Pertamina also cooperates with partners.

Pertamina is working on the Tuban refinery with Rosneft Oil Company and Bontang Refinery with Overseas Oil and Gas LLC (OOG). In addition, Pertamina is also working with Saudi Aramco to work on the Cilacap Refinery Project. According to Nicke Widyawati, Pertamina and Saudi Aramco are continuing negotiations on the work on the Cilacap Refinery Project, mainly about valuation.

Overseas Oil and Gas LLC (OOG)

Pertamina prepared two options following the negotiations that were not immediately completed. First, Pertamina and Saudi Aramco will continue to work on the Cilacap Refinery if there is an agreement at the end of this year.

Nicke Widyawati

"If an agreement does not occur, there is a scheme similar to that in the Balikpapan Refinery. Existing refineries are not spun off, so build the refinery yourself. So hopefully there will be an agreement, "She said.

The Cilacap refinery is targeted to start operating in 2025. After upgrading, the crude oil processing capacity of the Cilacap Refinery will increase from 348 thousand barrels per day (BPH) to 400 thousand BPD. 

   Furthermore, there will be additional production of gasoline (gasoline) 80 thousand BPD, diesel 60 thousand BPD, and aviation fuel of 40 thousand BPD. Fuel production increased significantly because the ability of refineries to process crude oil into finished products (NCI) rose from 74% to 92-98%.

At present, Pertamina is ready to execute the land acquisition for the Cilacap Refinery Project. In addition, the company is also conducting auctions to look for contractors who work on Early Work or site development. The signing of this early work contract is targeted to be carried out in December 2019.

Luhut Binsar Pandjaitan

Previously, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said the government would evaluate the Cilacap Refinery Project given there were still differences in the results of valuation conducted by each oil and gas company around the US $ 1.5 billion.

"If it remains that much [the difference in asset valuations], we see other options, there are already other choices," he said.

Balikpapan Refinery

Meanwhile, Pertamina also opened new options for cooperation with Saudi Aramco, an oil and gas company originating from Saudi Arabia, in addition to the Cilacap Refinery Project. Pertamina offers Saudi Aramco the same scheme as the Balikpapan Refinery if there is no detailed agreement on the Cilacap Refinery.

Nicke Widyawati

     Pertamina Managing Director Nicke Widyawati said Pertamina and Saudi Aramco were still in the middle of negotiating cooperation in the Cilacap Refinery Project, mainly about valuation. However, Pertamina is also preparing two options following the completion of these negotiations.

      First, Pertamina and Saudi Aramco will continue to work on the Cilacap Refinery if there is an agreement at the end of 2019. Second, Pertamina also offers the same scheme as the Balikpapan Refinery Project for the Cilacap Refinery.

"If an agreement does not occur, there is a scheme similar to that in the Balikpapan Refinery. Existing refineries are not spun off, so build the refinery yourself. So hopefully there will be an agreement, "he said.

Pertamina has cooperated with Saudi Aramco to work on this project since 2014. In 2016, both of them even signed an agreement to form a joint venture (Joint Venture Development Agreement / JVDA). However, until now, the two have not yet formed a joint venture, this is because there has not been any agreement on the valuation of assets.

      Regarding asset valuation, this is needed to fulfill one of the demands of the Saudi Arabian oil and gas company, namely the asset spin-off to be subsequently included in a joint venture.

However, the problem of asset valuation differences in the Cilacap Refinery has dragged on. The Cilacap refinery is targeted to start operating in 2025. After upgrading, the crude oil processing capacity of the Cilacap Refinery will increase from 348 thousand barrels per day (BPD) to 400 thousand BPD.

     Furthermore, there will be additional production of gasoline (gasoline) 80 thousand BPD, diesel 60 thousand BPD, and aviation fuel of 40 thousand BPD. Fuel production increased significantly because the ability of refineries to process crude oil into finished products (NCI) rose from 74% to 92-98%.

IN INDONESIA

Menteri ESDM Dorong Pertamina Percepat Proyek Kilang

Menteri Energi dan Sumber Daya Mineral (ESDM) Arifin Tasrif mendorong Pertamina untuk mempercepat penyelesaian enam proyek kilang yang tengah digarap. Keenam kilang tersebut masing-masing empat proyek perbaikan dan peningkatan kapasitas kilang (upgrading) dan dua proyek kilang baru.

“Proyek kilang ini diharapkan dapat meningkatkan kapasitas pengolahan minyak dari 1 juta barel per hari (bph) menjadi 2 juta bph,” kata Arifin ketika membuka Pertamina Energy Forum 2019.

Proyek upgrading dikerjakan Pertamina untuk empat kilang eksisting, yakni kilang di Balikpapan, Kalimantan Timur, Balongan Jawa Barat, Dumai Riau, serta Cilacap Jawa Tengah. Sementara proyek kilang baru, yakni Kilang Tuban di Jawa Timurdan Kilang Bontang di Kalimantan Timur. Seluruh proyek kilang ini sudah bergulir. Dalam menggarap kilang, Pertamina juga menggandeng mitra. 

Pertamina menggarap Kilang Tuban bersama Rosneft Oil Company dan Kilang Bontang dengan Overseas Oil and Gas LLC (OOG). Selain itu, Pertamina juga bekerja sama dengan Saudi Aramco untuk menggarap Proyek Kilang Cilacap. Menurut Nicke, Pertamina dan Saudi Aramco masih melanjutkan negosiasi kerja sama pengerjaan Proyek Kilang Cilacap, utamanya soal valuasi. 

Pertamina menyiapkan dua opsi menyusul tidak segera rampungnya negosiasi ini. Pertama, Pertamina dan Saudi Aramco akan melanjutkan pengerjaan Kilang Cilacap jika di akhir tahun ini ada kesepakatan.

“Kalau tidak terjadi kesepakatan, ada skema yang sama dengan di Kilang Balikpapan. Existing kilang tidak di-spin off, jadi bangun kilang sendiri saja. Jadi semoga kesepakatan akan ada,” kata Nicke.

Kilang Cilacap ditargetkan mulai beroperasi pada 2025. Pasca upgrading, kapasitas pengolahan minyak mentah Kilang Cilacap akan naik dari 348 ribu barel per hari Gaph) menjadi 400 ribu bph. Selanjutnya, bakal ada tambahan produksi bensin (gasoline) 80 ribu bph, solar 60 ribu bph, dan avtur 40 ribu bph. Produksi bahan bakar naik signifikan lantaran kemampuan kilang mengolah minyak mentah menjadi produk jadi (NCI) naik dari 74% menjadi 92-98%.

Saat ini, Pertamina siap mengeksekusi pengadaan lahan untuk Proyek Kilang Cilacap. Selain itu, perseroan juga sedang melaksanakan lelang untuk mencari kontraktor yang menggarap Early Work atau penyiapan lokasi (site development). Penandatanganan kontrak pekerjaan early work ini ditargetkan dilakukan pada Desember 2019.

Sebelumnya, Menteri Koordinator Bidang Kemaritiman dan Investasi Luhut Binsar Pandjaitan mengatakan, pemerintah akan mengevaluasi Proyek Kilang Cilacap mengingat masih ada perbedaan hasil valuasi yang dilakukan oleh masing-masing perusahaan migas sekitar US$ 1,5 miliar. 

“Kalau masih tetap segitu [selisih valuasi aset], kami melihat pilihan lain, sudah ada pilihan lain,” kata dia.

Kilang Balikpapan

Sementara itu, Pertamina juga membuka opsi baru kerja sama dengan Saudi Aramco, perusahaan migas yang berasal dari Arab Saudi, selain Proyek Kilang Cilacap. Pertamina menawarkan Saudi Aramco skema yang sama dengan Kilang Balikpapan jika tidak ada kesepakatan terkail Kilang Cilacap. 

     Direktur Utama Pertamina Nicke Widyawati menuturkan, Pertamina dan Saudi Aramco masih melanjulkan negosiasi kerja sama pengerjaan Proyek Kilang Cilacap, utamanya soal valuasi. Namun, Pertamina juga menyiapkan dua opsi menyusul tidak kunjung rampungnya negosiasi ini.

Pertama, Pertamina dan Saudi Aramco akan melanjutkan pengerjaan Kilang Cilacap jika di akhir 2019 ada kesepakatan. Kedua, Pertamina juga menawarkan skema yang sama dengan Proyek Kilang Balikpapan untuk Kilang Cilacap.

“Kalau tidak terjadi kesepakatan, ada skema yang sama dengan di Kilang Balikpapan. Existing kilang tidak di-spin off, jadi bangun kilang sendiri saja. Jadi semoga kesepakatan akan ada," kata dia.

Pertamina telah menggandeng Saudi Aramco untuk menggarap proyek ini sejak 2014 silam. Pada 2016, keduanya bahkan telah menandatangani perjanjian pembentukan perusahaan patungan (Joint Venture Development Agreement/ JVDA). Namun, hingga kini, keduanya belum juga membentuk perusahaan patungan, hal ini lantaran belum ada kesepakalan valusi aset. 

      Terkait valuasi aset, hal ini dibutuhkan untuk memenuhi salah satu permintaan perusahaan migas Arab Saudi itu, yakni spin-off aset untuk selanjutnya dimasukkan dalam perusahaan patungan (joint venture).

Namun, permasalahan perbedaan valuasi aset Kilang Cilacap ini sudah berlarut-larut. Kilang Cilacap ditargetkan mulai beroperasi pada 2025. Pasca upgrading, kapasitas pengolahan minyak mentah Kilang Cilacap akan naik dari 348 ribu barel per hari (bph) menjadi 400 ribu bph. 

     Selanjutnya, akan ada tambahan produksi bensin (gasoline) 80 ribu bph, solar 60 ribu bph, dan avtur 40 ribu bph. Produksi bahan bakar naik signifikan lantaran kemampuan kilang mengolah minyak mentah menjadi produk jadi (NCI) naik dari 74% menjadi 92-98%. 

Investor Daily, Page-14, Wednesday, Nov 27, 2019

Working on the Oil and Gas Block, Pertamina is Looking for Partners

To maximize the development of a number of oil and gas fields, PT Pertamina does not want to be alone, the state-owned oil and gas company is looking for business partners to support the project. Moreover, Pertamina has begun to manage oil and gas blocks that are very strategic, such as the Mahakam Block since early 2018.

By managing the Mahakam Block, Pertamina needs jumbo funding. PT Pertamina President Director Nicke Widyawati said Pertamina was looking for partners for the Mahakam Block.

the Mahakam Block

"The process has not yet begun, but several companies have expressed their wishes," Nicke said.

Nicke Widyawati

Even so, Nicke made sure everything happened internally. Nicke was reluctant to reveal more about the process of finding this strategic partner. Pertamina does need to build a business partnership. Because, until now Pertamina has just partnered with business partners in 30% of the oil and gas blocks that they manage.

Meanwhile, the average global oil and gas company has a partnership for 80% of oil and gas blocks managed. It's just that Pertamina's management has not set a target of what percentage increase in third party investment. Nicke revealed, Pertamina was completing a study for a number of potential work areas (WK) offered to potential investors.

"We hope that by the end of this year the list (block oil and gas) has been released and has begun to invite potential partners," Nicke said.

Nicke Widyawati

At present, Pertamina manages 99 oil and gas assets at home and abroad through a number of subsidiaries. Nicke said the partners they were looking for were companies with experience in implementing proven technologies. In addition, Pertamina also made the financial aspects of potential partners as consideration.

"Partnership also opens up the possibility of Pertamina to enter into a block of global companies abroad," Nicke said.

On the other hand, Pertamina learned from what happened in the Mahakam Block. Since managing the Mahakam Block in 2018, production has tended to decline until now.

"In 2017, only four wells were drilled, so when Pertamina entered, we carried out massive exploration," Nicke said.

Through exploration efforts, the rate of decline that originally reached 57% was successfully suppressed to 25%. Learn from experience "said Nicke.

IN INDONESIA

Garap Blok Migas, Pertamina Mencari Mitra

Demi memaksimalkan pengembangan sejumlah lapangan minyak dan gas (migas), PT Pertamina tidak mau sendirian, Perusahaan migas milik pemerintah ini mencari mitra bisnis untuk mendukung proyek tersebut. Apalagi Pertamina mulai mengelola blok migas yang sangat strategis, seperti Blok Mahakam sejak awal 2018 lalu. 

Dengan mengelola Blok Mahakam, Pertamina membutuhkan pendanaan jumbo. Direktur Utama PT Pertamina Nicke Widyawati, menyatakan Pertamina sedang mencari mitra untuk Blok Mahakam. 

"Prosesnya belum mulai, namun beberapa perusahaan sudah menyampaikan keinginannya," kata Nicke.

Meskipun demikian, Nicke memastikan semuanya berlangsung secara internal. Nicke enggan mengungkapkan lebih jauh mengenai proses pencarian mitra strategis ini. Pertamina memang perlu membangun kongsi bisnis. Sebab, hingga kini Pertamina baru saja menggandeng mitra bisnis di 30% blok migas yang mereka kelola. 

Sementara, rata-rata perusahaan migas global menjalin kemitraan untuk 80% blok migas yang dikelola. Hanya saja manajemen Pertamina belum memasang target berapa persentase peningkatan investasi pihak ketiga tersebut. Nicke mengungkapkan, Pertamina sedang merampungkan kajian untuk sejumlah wilayah kerja (WK) yang potensial ditawarkan ke calon investor. 

"Kami berharap akhir tahun ini sudah merilis daftar (blok migas) dan mulai mengundang calon mitra," kata Nicke.

Saat ini, Pertamina mengelola 99 aset migas di dalam dan luar negeri melalui sejumlah anak usaha. Nicke bilang, mitra yang mereka cari adalah perusahaan yang sudah berpengalaman dalam mengimplementasikan teknologi yang sudah terbukti. Selain itu, Pertamina turut menjadikan aspek finansial calon mitra sebagai bahan pertimbangan. 

"Partnership juga membuka kemungkinan Pertamina untuk masuk ke dalam blok para perusahaan global di luar negeri," kata Nicke. 

Di sisi lain, Pertamina belajar dari apa yang terjadi di Blok Mahakam. Sejak mangelola Blok Mahakam pada 2018, produksi blok tersebut cenderung menurun hingga kini. 

"Tahun 2017 pengeboran hanya empat sumur, sehingga ketika Pertamina masuk, kami melakukan eksplorasi secara masif," tutur Nicke. 

Melalui upaya eksplorasi, laju penurunan yang semula mencapai 57% berhasil ditekan hingga 25%. Belajar dari pengalaman" kata Nicke.

Kontan, Page-14, Wednesday, Nov 27, 2019

2 New Options for Aramco

PT Pertamina (Persero) ensured the submission of two refinery project development options in order to continue its cooperation with Saudi Aromco. Pertamina President Director Nicke Widyawati said that with Saudi Aramco at present the company already has two cooperation options. According to him, the first option is the initial cooperation scheme, as discussed so far at the Cilacap Refinery.

There is one more option, if there is no agreement on the valuation price. There is a similar scheme as in Balikpapan. So the existing refineries are not spin off, so the scheme will only build the facilities, "he said at the 2019 Pertamina Energy Forum press conference.

For the second option, Pertamina and Aramco do not need to spin off or not enter the valuation of existing refineries. Under this scheme, cooperation with Saudi Aramco is limited to new units. However, Pertamina and Saudi Aramco are continuing negotiations on the work on the Cilacap Refinery Project, mainly about valuation.

"We hope that with these two options, an agreement with Aramco can happen immediately before the end of 2019.

Ignatius Tallulembang, Director of the Pertamina Processing and Petrochemical Megaproject, said Aramco was still focused on completing the asset valuation process at the Cilacap Refinery. Later, with this new scheme the two companies will form a joint venture to build a new refinery facility in Cilacap without including Pertamina's existing assets.

Pertamina still wants to be the majority owner of the Cilacap RDMP project. In the Cilacap Refinery project Pertamina has a 55% majority stake and Saudi Aramco 45%. The division is in accordance with the agreement of the two companies in the head of agreement signed at the end of 2015. According to the notes, the finding of an agreement on the asset valuation of the Cilacap refinery did not immediately open up new partnership opportunities in the development plan of one of the national strategic projects.

Luhut Binsar Pandjaitan

Because of the nearly three-year agreement establishing a Pertamina-Aramco joint venture in the Cilacap Refinery Development Master Plan (RDMP) project, the future of this oil and gas cooperation is still a big question mark. Maritime and Investment Coordinating Minister Luhut Binsar Pandjaitan said the government was still awaiting the results of the valuation of Pertamina refinery assets by international financial consultants. However, based on provisional estimates, Luhut said there are still differences in asset valuations of around US $ 1.5 billion.

"(With) Aramco we are evaluating because the difference is still US $ 1.5 billion. So let's see, "he said.

Erick Thohir

Signs of the search for new partners were planned by SOE Minister Erick Thohir on October 29 after attending a coordination meeting with the Coordinating Minister for Maritime and Investment.

IN INDONESIA

2 Opsi Baru untuk Aramco

PT Pertamina (Persero) memastikan pengajuan dua opsi pengembangan proyek kilang demi melanjutkan kerja samanya dengan Saudi Aromco. Direktur Utama Pertamina Nicke Widyawati mengatakan dengan Saudi Aramco saat ini pihaknya sudah memiliki dua opsi kerja sama. Menurutnya, opsi pertama adalah skema kerja sama awal, seperti yang sudah dibahas selama ini di Kilang Cilacap. 

Ada satu opsi lagi, jika tidak ada kesepakatan di harga  valuasi. Ada skema yang sama seperti di Balikpapan. Jadi eksisting kilangnya tidak di spin off, jadi skemanya nanti hanya membangun fasilitasnya saja, “ ujarnya dalam konferensi pers Pertamina Energy Forum 2019.

Untuk opsi kedua, Pertamina dan Aramco tidak perlu melakukan spin off atau tidak memasukkan valuasi kilang eksisting. Dalam skema ini, kerja sama dengan Saudi Aramco hanya sebatas untuk unit baru. Namun Pertamina dan Saudi Aramco masih melanjutkan negosiasi kerja sama pengerjaan Proyek Kilang Cilacap, utamanya soal valuasi. 

“Kita harapkan dengan adanya dua opsi ini kesepakatan dengan Aramco bisa segera terjadi sebelum akhir tahun 2019. 

Ignatius Tallulembang, Direktur Megaproyek Pengolahan dan Petrokimia Pertamina, mengatakan Aramco masih fokus untuk menyelesaikan proses valuasi aset di Kilang Cilacap. Nantinya, dengan skema baru ini kedua perusahaan membentuk perusahaan patungan untuk membangun fasilitas kilang baru di Cilacap tanpa memasukan perhitungan aset eksisting milik Pertamina. 

Pertamina tetap berkeinginan menjadi pemilik mayoritas proyek RDMP Cilacap. Pada proyek Kilang Cilacap Pertamina memiliki saham mayoritas 55% dan Saudi Aramco 45%. Pembagian tersebut sudah sesuai dengan kesepakatan kedua perusahaan dalam head of agreement yang ditandatangani akhir 2015. Menurut catatan, tidak segera ditemukannya kesepakatan pada valuasi aset kilang Cilacap membuka peluang kemitraan baru dalam rencana pengembangan salah satu proyek strategis nasional itu. 

Karena Hampir tiga tahun perjanjian pembentukan perusahaan patungan Pertamina-Aramco dalam proyek Refinery Development Master Plan (RDMP) Kilang Cilacap, masa depan kerja sama migas ini masih menjadi tanda tanya besar. Menteri Koordinator Maritim dan Investasi Luhut Binsar Pandjaitan mengatakan pemerintah masih menunggu hasil valuasi aset Kilang Pertamina oleh konsultan keuangan internasional. Hanya saja, berdasarkan perkiraan sementara, Luhut menyebut masih ada perbedaan valuasi aset sekitar US$1,5 miliar. 

“(Dengan) Aramco kami sedang evaluasi karena selisihnya masih ada US$1,5  miliar. Jadi mari kita lihat,” tuturnya.

Tanda-tanda pencarian mitra baru pun telah direncanakan oleh Menteri BUMN Erick Thohir pada 29 Oktober lalu  seusai mengikut rapat koordinasi dengan Menteri Koordinator Maritim dan Investasi. 

Bisnis Indonesia, Page-3, Wednesday, Nov 27, 2019