Pertamina Prepares US $ 3.32 Billion Fund

PT Pertamina will spend US $ 3.32 billion in 2018 for upstream oil and gas sector higher than this year's allocation of US $ 2.74 billion. Senior Vice President of Upstream Strategic Planning and Operation Evaluation Pertamina Meidawati said that the upstream investment of oil and gas in 2018 using the assumption of investment value on the Mahakam block officially switched to Pertamina starting January 1, 2018.

This investment target also rose 21.1% from US $ 2.74 billion to US $ 3.32 billion. Investment in Mahakam block, the company will spend US $ 659 million. Then, for the acquisition activities of US $ 590 million and for the development of geothermal proves such as Lumut Balai 1 and 2 also Hulu Lais with a value of US $ 183.3 million.

"[" Target] invests US $ 3,324 million, "She said when contacted Wednesday (6/12).

In line with the increase in investment, Pertamina also targets oil and gas production to rise next year compared to this year. In 2018, the company's oil and gas production is targeted to reach 950,000 barrels of oil equivalent per day / boepd or increase by 34.2% compared to the oil and gas production target of 693,000 boepd this year.

Pertamina's crude oil production in 2018 is targeted to rise 19.7 percent to 400,000 barrels per day (bpd) compared to this year's 334,000 bpd. Gas production in 2018 is targeted to rise 47.5% to 3.069 million cubic feet per day (MMscfd) compared to this year's 2,080 MMscfd.

Rising gas production in 2018, calculating the production plan of the Mahakam Block-1,008 MMscfd. In the third quarter of 2017, Pertamina's oil and gas production totaled 689,000 boepd with oil production reaching 344,000 bpd and 2.030 MMscfd gas.

The achievement is obtained from the increase of Banyu Urip Field production, Cepu Block. Subsequently, the additional production comes from the increase of Pertamina Hulu Energi Offshore North West Java's share of Offshore North West Java [ONWJ] Block to 100%. Lastly, the addition of asset production in Iraq and Algeria.

"Yes, Increase in production from Mahakam block, oil 46 Mbopd [thousand barrels per day] and gas 1,008 MMscfd."

Upstream Director of Pertarnina Syamsu Alam said that the funds allocated for the acquisition of new assets will be used to manage government termination blocks. Until now, the company is still waiting for the government's decision to re-evaluate in relation to the eight working areas out of contract.

IN INDONESIA

Pertamina Siapkan Dana US$ 3,32 Miliar  

PT Pertamina akan mengeluarkan dana US$ 3,32 miliar pada 2018 untuk sektor hulu minyak dan gas bumi lebih tinggi dari alokasi tahun ini US$ 2,74 miliar. Senior Vice President Upstream Strategic Planning and Operation Evaluation Pertamina Meidawati mengatakan bahwa naiknya investasi hulu migas pada 2018 dengan menggunakan asumsi nilai investasi pada Blok Mahakam yang resmi beralih kepada Pertamina mulai 1 Januari 2018. 

Target investasi ini pun naik 21,1% dari US$ 2,74 miliar menjadi US$ 3,32 miliar. Investasi di Blok Mahakam, perseroan akan mengeluarkan dana US$ 659 juta. Kemudian, untuk kegiatan akuisisi US$ 590 juta dan untuk pengembangan provek panas bumi seperti Lumut Balai 1 dan 2 juga Hulu Lais dengan nilai US$ 183,3 juta.

“["Target] investasi US$ 3.324 juta," ujarnya saat dihubungi Rabu (6/12).

Sejalan dengan kenaikan investasi, Pertamina juga menargetkan produksi migas naik pada tahun depan dibandingkan dengan tahun ini. Pada 2018, produksi migas perseroan ditargetkan mencapai 950.000 barrel oil equivalent per day/boepd atau  naik 34,2% jika dibandingkan dengan target produksi migas tahun ini 693.000 boepd.

Produksi minyak mentah Pertamina pada 2018 ditargetkan naik 19,7% menjadi 400.000 barel per hari (bph) dibandingkan dengan tahun ini 334.000 bph. Produksi gas pada 2018 ditargetkan naik 47,5% menjadi 3.069 juta kaki kubik per hari (MMscfd) dibandingkan dengan tahun ini 2.080 MMscfd.

Naiknya produksi gas perseroan pada 2018, menghitung rencana produksi Blok Mahakam-sebesar 1.008 MMscfd. Pada kuartal III/2017, realisasi produksi migas Pertamina sebesar 689.000 boepd dengan produksi minyak mencapai 344.000 bph dan gas 2.030 MMscfd. 

Pencapaian tersebut diperoleh dari naiknya produksi Lapangan Banyu Urip, Blok Cepu. Kemudian, tambahan produksi berasal dari naiknya porsi kepemilikan Pertamina Hulu Energi Offshore North West Java pada Blok Offshore North West Java [ONWJ) menjadi 100%. Terakhir, tambahan dari produksi aset di lrak dan Aljazair.

“Ya, Kenaikan produksi dari Blok Mahakam, minyak 46 Mbopd [ribu barel per hari] dan gas 1.008 MMscfd.“

Direktur Hulu Pertarnina Syamsu Alam mengatakan bahwa dana yang dialokasikan untuk akuisisi aset baru akan digunakan untuk mengelola blok-blok terminasi yang ditugaskan pemerintah. Hingga kini, perseroan masih menanti keputusan pemerintah yang sedang melakukan evaluasi ulang terkait dengan delapan wilayah kerja habis kontrak.

Bisnis Indonesia, Page-30, Thursday, Dec 7, 2017

Beginning 2018, Pertamina Signed Mansouri Block of Iran

PT Pertamina targets the signing of Mansouri Block management contract in Iran can be done next year. Block production is expected to reach 250-300 thousand barrels per day (bpd).

Upstream Director of Pertamina Syamsu Alam said the signing plan at the beginning of next year is a request from the Iranian side. The plan is aligned with the prevailing calendar in Iran where the end of 2017 falls in April 2018 of the Indonesian version date.

"The process takes time. The end of their year (Iran) is April 2018, if we are December. Iran who requested the end of the year. Hopefully next year [contract signature], "he said in Jakarta, Monday (4/12) night.

Later, the company will work on this Mansouri Block with partners. Pertamina, will hold a 30% shareholding, a local company partner of 20%, and the rest of its partners. Currently the company is still looking for partners to be coupled.

"We've talked to other potential partners. Be in talks, "he said.

The oil and gas contract is in the form of service contract. That is, the company will get paid for every barrel of oil produced from Mansouri Block. Furthermore, the company's wage amount will be synchronized in the form of crude oil that Pertamina can bring to Indonesia. Mansouri Block production is estimated at 250-300 thousand bpd.

"What we can produce 300 thousand bpd by a few dollars, earn so much. This then we buy oil, "explained Alam.

Previously, he explained the discussion between the Pertamina Team and the Iranian side to discuss the terms and conditions in the management of oil and gas blocks. The negotiations on the acquisition of the Mansouri Block can be continued after the Iranian Government releases a new form of oil and gas contract, the Iranian Petroleum Contract. The current discussions with the Iranian side have referred to this IPC.

In the official website of the National Iranian Oil Company (NIOC), it is stated that Iran offers the form of oil and gas contracts with more incentives than the form of buy-back agreements applied in the past. Iran offers contract deals through project-by-project negotiations (tailor made models).

The page also mentions, there are five core of this new model of oil and gas contracts in Iran. The new contract allows investors to bring the oil they produce and sell it to the global market. The term of the contract is also longer, ie from the previous seven years to 20-25 years.

Furthermore, investors can negotiate directly with the Iranian side and not limited to auction results only. International investors are also required to partner with local partners who have been selected by the Government of Iran and should not have oil and gas reserves.

Finally, Iran will start its auction process of oil and gas blocks in March next year. The Iranian government is targeting to sign a new oil and gas block development contract within the next two years. The country hopes to book an investment commitment of at least US $ 100 billion needed to raise its oil production to more than 1 million barrels per day (bpd). About the auction of oil and gas blocks to be held Iran, Alam said Pertamina will not participate.

"For the other blocks, we have no plans to follow," he said

Currently, Pertamina already has oil and gas blocks in several countries. In Iraq, the company owns shares in West Qurna Field 1. In Algeria, Pertamina owns 65% of MLN and 16.9% in EMK Field. Meanwhile in Malaysia, the company holds ownership in Block K, Kikeh Block, SNR Block SK309 Block and Block SK311.

Most recently, Pertamina controls 72.65% of French oil and gas company, Maurel & Prom. Maurel & Prom has oil and gas assets scattered in Gabon, Nigeria, Tanzania, Namibia, Colombia, Canada, Myanmar, Italy, and other countries. However, the main assets that have been produced are in Gabon, Nigeria and Tanzania.

Previously, Pertamina said it would rely on oil and gas production from its overseas assets in the future, with a contribution rate of 33% of the total production of 2025 or equivalent to 650 thousand barrels of oil equivalent per day / boopd.

Acquisitions abroad are needed to minimize the difference in domestic demand and supply of oil and gas in the future. For oil production, Syamsu Alam said that it is targeted to reach 822 thousand bpd in 2025, which is 353 thousand bpd from domestic and 469 thousand bpd from abroad.

As for gas, it is targeted to increase to 5.71 billion cubic feet per day, ie 4.23 billion cubic feet of domestic and 1.48 billion cubic feet of foreign assets. In the same year, oil demand reached 1.7 million bpd and gas 9.1 billion cubic feet per day. Without acquisitions abroad, the gap between oil and gas supply and demand could be greater.

IN INDONESIA

Awal 2018, Pertamina Teken Kontrak Blok Mansouri Iran

PT Pertamina menargetkan penandatanganan kontrak pengelolaan Blok Mansouri di Iran dapat dilakukan pada tahun depan. Produksi blok ini diperkirakan bisa mencapai 250-300 ribu barel per hari (bph).

Direktur Hulu Pertamina Syamsu Alam mengatakan, rencana penandatanganan pada awal tahun depan tersebut merupakan permintaan pihak Iran. Rencana itu disesuaikan dengan penanggalan yang berlaku di Iran dimana akhir tahun 2017 jatuh pada April 2018 penanggalan versi Indonesia.

“Prosesnya perlu waktu. Akhir tahunnya mereka (Iran) itu April 2018, kalau kita kan Desember. Iran yang minta akhir tahun. Semoga tahun depan [tanda tangan kontrak]," kata ia di Jakarta, Senin (4/12) malam.

Nantinya, perseroan akan menggarap Blok Mansouri ini bersama mitra. Pertamina, akan memegang kepemilikan saham 30%, mitra perusahaan lokal 20%, dan sisanya mitra lainnya. Saat ini perseroan masih mencari mitra yang akan digandeng. 

“Kami sudah bicara dengan calon mitra yang lain. Sedang dalam pembicaraan,” ujarnya.

Kontrak migas tersebut berbentuk service contract. Artinya, perseroan akan mendapat bayaran untuk setiap barel minyak yang diproduksi dari Blok Mansouri. Selanjutnya, besaran upah perseroan ini akan disetarakan dalam bentuk minyak mentah yang dapat dibawa Pertamina ke Indonesia. Produksi Blok Mansouri diperkirakan mencapai 250-300 ribu bph.

“Yang kami dapat produksi 300 ribu bph dikali sekian dolar, mendapatkan sekian. Ini kemudian kami belikan minyak," jelas Alam.

Sebelumnya, dijelaskannya diskusi antara Tim Pertamina dengan pihak Iran sampai pada pembahasan terms and condition dalam pengelolaan blok migas. Negosiasi akuisisi Blok Mansouri ini dapat dilanjutkan setelah Pemerintah Iran merilis bentuk kontrak migas baru, yakni Iranian Petroleum Contract. Pembahasan yang kini berlangsung dengan pihak Iran, telah mengacu pada IPC ini.

Dalam laman resmi National Iranian Oil Company (NIOC), disebutkan bahwa Iran menawarkan bentuk kontrak migas dengan lebih banyak insentif dibandingkan bentuk perjanjian buy-back yang diterapkan di masa lalu. Iran menawarkan kesepakatan kontrak melalui negosiasi berdasar proyek per proyek (tailor made models).

Laman itu juga menyebutkan, terdapat lima inti dari model baru kontrak migas di Iran ini. Kontrak baru ini memungkinkan investor membawa minyak yang dihasilkannya dan menjualnya ke pasar global. Jangka waktu kontrak juga lebih panjang, yakni dari sebelumnya tujuh tahun menjadi 20-25 tahun. 

Selanjutnya, investor dapat melakukan negosiasi langsung dengan pihak Iran dan tidak terbatas pada hasil lelang saja. Investor internasional juga wajib bermitra dengan mitra lokal yang telah dipilih Pemerintah Iran dan tidak boleh memiliki cadangan migas.

Terakhir, Iran akan mulai proses lelang blok migas yang dimilikinya pada Maret tahun depan. Pemerintah Iran menargetkan bisa menandatangani kontrak pengembangan blok migas baru dalam dua tahun ke depan. 

    Negara tersebut berharap bisa membukukan komitmen investasi setidaknya US$ 100 miliar yang dibutuhkan untuk menaikkan produksi miyaknya menjadi lebih dari 1 juta barel per hari (bph).  Perihal lelang blok migas yang akan digelar Iran ini, Alam mengungkapkan Pertamina tidak akan ikut berpartisipasi. 

“Untuk blok yang lain, kami belum ada rencana ikut,” katanya

Saat ini, Pertamina telah memiliki blok migas di beberapa negara. Di Irak, perseroan memiliki saham di Lapangan West Qurna 1. Di Aljazair, pertamina menguasai 65% saham di Lapangan MLN dan 16,9% di Lapangan EMK Sementara di Malaysia, perseroan memegang kepemilikan saham di Blok K, Blok Kikeh, Blok SNR Blok SK309 dan Blok SK311.

Yang terbaru, Pertamina menguasai 72,65% saham perusahaan migas Prancis, Maurel&Prom. Maurel&Prom memiliki aset migas yang tersebar di Gabon, Nigeria, Tanzania, Namibia, Kolombia, Kanada, Myanmar, Italia, dan negara lainnya. Namun, aset utamanya yang telah berproduksi yakni di Gabon, Nigeria, dan Tanzania.

Sebelumnya, Pertamina menyatakan akan mengandalkan produksi migas dari aset-asetnya di luar negeri di masa mendatang, dengan tingkat kontribusi mencapai 33% dari total produksi 2025 atau setara dengan 650 ribu barrel oil equivalent per day/boopd.

Akuisisi di luar negeri diperlukan untuk memperkecil selisih kebutuhan dan pasokan migas domestik di waktu mendatang. Untuk produksi minyak, Syamsu Alam sempat menyebutkan, ditargetkan mencapai 822 ribu bph pada 2025, yakni 353 ribu bph dari dalam negeri dan 469 ribu bph dari luar negeri. 

Sementara untuk gas, ditargetkan meningkat menjadi 5,71 miliar kaki kubik per hari, yaitu 4,23 miliar kaki kubik dari domestik dan 1,48 miliar kaki kubik dari aset luar negeri. Pada tahun yang sama, kebutuhan minyak mencapai 1,7 juta bph dan gas 9,1 miliar kaki kubik per hari. Tanpa akuisisi di luar negeri, selisih pasokan dan permintaan migas ini bisa lebih besar.

Investor Daily, Page-9, Wednesday, Dec 6, 2017

The Tiung Biru Blue Operation Project Operates 2020

PT Pertamina through its subsidiary PT Pertamina EP Cepu (PEPC) signed an engineering, procurement and construction (EPC) engineering contract for a gas processing facility (GPF) of the Tiung Biru Unitization Gas Development Project (JTB). The project is targeted to operate by 2020.

The signing of EPC GPF JTB contract was conducted at PEPC Office, Jakarta, Monday (4/12) between PEPC President Director Jamsaton Nababan and PT Rekayasa Industri-JGC Indonesia-JGC Corporation Consortium represented by Executive Director of PT Rekind, Jakub Tarigan.

Attending the signing include Upstream Director of PT Pertamina Syamsu Alam, Deputy of Controlling Procurement of Upstream Oil and Gas Upstream Working Unit (SKK Migas) Djoko Siswanto, and President Director of PT Pertamina EP Nanang Abdul Manaf.

Vice President Corporate Communications of PT Pertamina Adiatma Sardjito said the GPF EPC work includes preparing production facilities starting at Wellpad, flowline, gathering line and export pipeline, JTB gas purification facilities and CPF Banyu Urip sharing facility.

"With the existing planning we target the JTB project 'onstream' in the fourth quarter of 2020 and the benefits can be enjoyed by people, especially industries in East Java and Central Java that need gas," he said.

The Industrial Engineering Consortium won the EPC GPF tender for the JTB Project because it provided the lowest offer price of US $ 984 million or US $ 105 million lower than the second-ranked bidder.

JTB field is a field of unitization between Jambaran Field entering Cepu Block and Tiung Biru Field which enter the working area of ​​PT Pertamina EP with operator is PEPC. The JTB project is estimated to cost capital expenditure (capex) of USS 1.547 billion with an average production capacity of 315 million cubic feet per day (MMSCFD) for 14.8 years. JTB field has received a gas purchase commitment of 172 MMSCFD.

"The project is expected to absorb approximately 6,000 workers at the peak of its implementation," said Adiatma.

IN INDONESIA

Proyek Gas Jambaran Tiung Biru Beroperasi 2020

PT Pertamina melalui anak perusahaannya PT Pertamina EP Cepu (PEPC) menandatangani kontrak pekerjaan rekayasa, pengadaan, dan konstruksi (EPC) untuk fasilitas pemrosesan gas (GPF) Proyek Pengembangan Gas Unitisasi Jambaran Tiung Biru (JTB). Ditargetkan proyekini bisa beroperasi pada 2020.

Penandatangan kontrak EPC GPF JTB dilakukan di Kantor PEPC, Jakarta, Senin (4/12) antara Direktur Utama PEPC, Jamsaton Nababan dan Konsorsium PT Rekayasa Industri-JGC Indonesia-JGC Corporation yang diwakili Pelaksana tugas Direktur Utama PT Rekind, Jakub Tarigan.

Hadir dalam penandatanganan antara lain Direktur Hulu PT Pertamina Syamsu Alam, Deputi Pengendalian Pengadaan Satuan Kerja Khusus Pelaksana Hulu Minyak dan Gas (SKK Migas) Djoko Siswanto, dan Presiden Direktur PT Pertamina EP Nanang Abdul Manaf.

Vice President Corporate Communication PT Pertamina Adiatma Sardjito mengatakan pekerjaan EPC GPF mencakup penyiapan fasilitas produksi mulai di Wellpad, flowline, gathering line, dan export pipeline, fasilitas pemurnian gas JTB dan sharing facility CPF Banyu Urip. 

“Dengan perencanaan yang ada kami menargetkan proyek JTB ‘onstream’ pada kuartal keempat 2020 dan manfaatnya dapat dinikmati masyarakat khususnya industri di Wilayah Jawa Timur dan Jawa Tengah yang membutuhkan gas,” katanya.

Konsorsium Rekayasa Industri memenangi tender EPC GPF Proyek JTB karena memberikan harga penawaran terendah yakni US$ 984 juta atau US$ 105 juta lebih rendah dibandingkan penawaran peserta peringkat kedua.

Lapangan JTB merupakan lapangan unitisasi antara Lapangan Jambaran yang masuk Blok Cepu dan Lapangan Tiung Biru yang masuk wilayah kerja PT Pertamina EP dengan operatornya adalah PEPC. 

     Proyek JTB diperkirakan menelan belanja modal (capital expenditure/capex) USS 1,547 miliar dengan kapasitas produksi rata-rata 315 juta kaki kubik per hari (MMSCFD) selama 14,8 tahun. Lapangan JTB telah mendapatkan komitrnen pembelian gas sebesar 172 MMSCFD.

“Proyek diperkirakan dapat menyerap sekitar) 6.000 tenaga kerja pada puncak pelaksanaannya,” ujar Adiatma. 

Investor Daily, Page-9, Wednesday, Dec 6, 2017

SKK Migas Pushes Local Materials in Upstream Oil and Gas Project

Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) encourages the use of steel, pipes and other manufacturing facilities in the upstream oil and gas industry. Therefore, SKK Migas supports the workshop organized by The Indonesian Iron & Steel Industry Association (IISLA) in Batam.

The workshop brought together suppliers with enthusiasts, such as KKKS, shipbuilding companies, manufacturers, engineering procurement and construction (EPC) contractors and front end engineering design contractors.

"Hopefully, this interaction will create synergy and openness among business actors," said Erwin Suryadi, Head of Procurement Management Division of Goods and Services of SKK Migas in a press release on Tuesday (5/12).

For information, IISLA workshop is an implementation of PTK 007 Revision 04 on Guidelines for Procurement of Goods / Services issued by SKK Migas this year. Beleid requires KKKS and subcontractors to use goods and services domestically.

IN INDONESIA

SKK Migas Dorong Material Lokal di Proyek Hulu Migas

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mendorong penggunaan baja, pipa dan fasilitas pabrikasi lain dalam industri hulu migas. Oleh karenanya SKK Migas mendukung workshop yang diselenggarakan The Indonesian Iron & Steel Industry Association (IISLA) di Batam.

Workshop itu mempertemukan pemasok dengan peminat, seperti Kontraktor Kontrak Kerjasama (KKKS), perusahaan galangan kapal, pabrikan, kontraktor engineering procurement and construction (EPC) dan kontraktor front end engineering design. 

"Harapannya dengan interaksi ini akan tercipta sinergi dan keterbukaan antar pelaku usaha" ujar Erwin Suryadi, Kepala Divisi Pengelolaan Pengadaan Barang dan Jasa SKK Migas dalam siaran pers, Selasa (5/12).

Sebagai informasi, workshop IISLA merupakan implementasi dari PTK 007 Revisi 04 tentang Pedoman Pelaksanaan Pengadaan Barang/Jasa yang diterbitkan SKK Migas pertengahan tahun ini. Beleid mewajibkan KKKS dan subkontraktor menggunakan barang dan jasa dalam negeri.

Kontan, Page-14, Wednesday, Dec 6, 2017

Pertamina Signs 2018 Contract

Mansouri block management

PT Pertamina will sign the Mansouri Block management contract in Iran next year. Upstream Director of Pertamina Syamsu Alam said it would control 30 percent participation share and Iranian partner by 20 percent. The rest, it will take other partners to manage the block with the type of service contract. The Iranian government has decided to sign the contract next year in April 2018.

"The Iranian government requested the signing of the contract in April next year," he said after attending a hearing at Commission VII DPR on Monday (4/12) night.

According to him, there are already other partners who showed interest to participate in managing the Mansouri Block. However, it is still in the conversation stage.

The plan, Mansouri Block produces 250,000 to 300,000 barrels per day (bpd). From the oil produced, he called the company will bring it to Indonesia to meet the needs of fuel oil (BBM).

Mansouri is one of two blocks planned by Pertamina. Previously, there was the Ab-Teymour Block which was also included in the radar in order to increase the company's oil and gas production but ultimately only Mansouri could be agreed upon.

CONTRACT SYSTEMS

Quoted from the official website of NIOC, Iran will auction off 50 Work Areas with a profit sharing contract system. The main point of the cooperation contract, as quoted from the page of Herbert Smith Freehills, an international law firm,

a system of contracts that allows the return of expenses incurred by investors.

For the exploration period, 4 years is set with 2 year extension. Meanwhile, for the development and production stage is set 20 years. The government will set production targets but will provide incentives for investors who can maximize field management.

According to the website, there is a change in cooperation contracts because Iran wants to reach the investment target of US $ 150 billion which must enter for the next 5 years.

"Pertamina is 30%, 20% local, the rest we are looking for partners," said Syamsu Alam.

Currently, Pertamina has assets in several countries. In Iraq, the company has a portion in West Qurna 1. In Algeria, Pertamina owns 65% stake in MLN Field and 16.9% in EMK Field; Thirdly, in Malaysia, the company has portions in Block K, Kikeh Block, SNP Block, SK309 Block and SK311 Block.

Finally, Pertamina controlled 72.65% shares of French oil and gas company, Maurel & Prom. From the acquisition of Maurel & Prom, there are additional assets in Gabon, Nigeria, Tanzania, Namibia, Colombia, Canada, Myanmar, Italy, and other countries. However, the main assets that have been produced are in Gabon, Nigeria and Tanzania.

As an illustration, oil and gas production of PT Pertamina in the third quarter / 2017 increased by 6.26% compared to the same period of 2016 from 646,000 barrels of oil equivalent per day (mboepd) to 689 mboepd.

IN INDONESIA

Pengelolaan blok Mansouri

Pertamina Tandatangani Kontrak 2018

PT Pertamina akan menandatangani kontrak pengelolaan Blok Mansouri di Iran pada tahun depan. Direktur Hulu Pertamina Syamsu Alam mengatakan pihaknya akan menguasai saham partisipasi sebesar 30% dan mitra Iran sebesar 20%. Sisanya, pihaknya akan menggandeng mitra lain untuk mengelola blok dengan jenis service contract itu. Pemerintah Iran, telah menetapkan agar penandatanganan kontrak dilakukan tahun depan yakni April 2018.

“Pemerintah Iran yang minta penandatanganan kontrak April tahun depan,” ujarnya usai menghadiri Rapat Dengar Pendapat di Komisi VII DPR, Senin (4/12) malam.

Menurutnya, sudah ada mitra lain yang menunjukkan minat untuk turut terlibat mengelola Blok Mansouri. Namun, hal tersebut masih dalam tahap pembicaraan.

Rencananya, Blok Mansouri menghasilkan 250.000 hingga 300.000 barel per hari (bph). Dari minyak yang dihasilkan, dia menyebut perseroan akan membawanya ke Indonesia untuk memenuhi kebutuhan bahan bakar minyak (BBM).

Mansouri merupakan satu dari dua blok yang rencananya dikuasai Pertamina. Sebelumnya, terdapat Blok Ab-Teymour yang juga masuk dalam radar agar bisa menambah produksi migas perseroan tetapi akhirnya hanya Mansouri yang bisa disepakati.

SISTEM KONTRAK

Dikutip dari laman resmi NIOC, lran akan melelang 50 Wilayah Kerja dengan sistem kontrak bagi hasil. Poin utama dalam kontrak kerja sama tersebut, sepeiti dikutip dari laman Herbert Smith Freehills, sebuah firma hukum internasional, Iran menggunakan sistem kontrak yang memungkinkan pengembalian biaya yang dikeluarkan investor.

Untuk masa eksplorasi, ditetapkan 4 tahun dengan perpanjangan 2 tahun. Sementara itu, untuk tahap pengembangan dan produksi ditetapkan 20 tahun. Pemerintah akan menetapkan target produksi tetapi akan disiapkan insentif bagi investor yang bisa memaksimalkan pengelolaan lapangan.

Menurut laman itu, adanya perubahan kontrak kerja sama karena Iran ingin mencapai target investasi sebesar US$ 150 miliar yang harus masuk selama 5 tahun ke depan.

“Pertamina bagiannya 30%, 20% lokal, sisanya kita sedang mencari partner,” kata Syamsu Alam.

Saat ini, Pertamina memiliki aset di beberapa negara. Di Irak, perseroan memiliki porsi di Iapangan West Qurna 1. Di Aljazair, Pertamina menguasai 65% saham di Lapangan MLN dan 16,9% di Lapangan EMK; Ketiga, di Malaysia, perseroan memiliki porsi di Blok K, Blok Kikeh, Blok SNP, Blok SK309 dan Blok SK311.

Terakhir, Pertamina menguasai 72,65% saham perusahaan migas Prancis, Maurel&Prom. Dari hasil akuisisi Maurel&Prom, terdapat tambahan aset di Gabon, Nigeria, Tanzania, Namibia, Kolombia, Kanada, Myanmar, Italia, dan negara lainnya. Namun, aset utamanya yang telah berproduksi yakni di Gabon, Nigeria, dan Tanzania.

Sebagai gambaran, produksi minyak dan gas bumi PT Pertamina kuartal III/ 2017 naik 6,26% dibandingkan dengan periode yang sama tahun 2016 dari 646.000 barel setara minyak per hari (mboepd) menjadi 689 mboepd.

Bisnis Indonesia, Page-30, Wednesday, Dec 6, 2017

Oil and Gas Holding will be Established in 2018

The Ministry of State-Owned Enterprises (BUMN) is now officially established a holding company (holding) of the mine. Holding mine owns the parent company PT Indonesia Asahan Aluminum (Inalum) with members of PT Timah, PT Antam, and PT Bukit Asam.

Furthermore, the SOE Ministry will also establish a holding with other sectors next year. Oil and gas holdings will soon be established with its parent company, PT Pertamina. The plan, the Ministry of SOEs will be forming oil and gas holding in the first quarter of next year.

"Insha Allah (holding mine formed in the first quarter of next year), is still in process," said Minister of SOE Rini Soemarno in the complex area of ​​Bank Indonesia (BI), Monday (4/12).

Nevertheless, Rini has not been able to say more details about the planned formation of oil and gas holding which is expected to be formed in the first quarter of 2018. He just said, although there is a process, Rini has not known already in stage where the formation of oil and gas holding.

In fact, reportedly the emergence of Letter of the Minister of SOE Number S-682 / MBU / 11/2017 to the Board of Directors of PT Perusahaan Gas Negara (PGN). In the letter, Rini instructed PGN to conduct an Extraordinary General Shareholders Meeting (RUPSLB) related to the oil and gas holding plan. Although the letter already exists, Rini also not want to reveal about the intruksinya to PGN.

"I'm sorry I just came in. Ask Edwin (Deputy of Regional Energy Business and Logistics Division of the Ministry of State-Owned Enterprises) what has not, I honestly can not remember," She said.

Economic observer from the University of Indonesia, Faisal Basri, said last week that the formation of holding (SOEs) of SOEs should be done through in-depth study, transparent and not in a hurry. Thus, in the future it will not have a negative impact on society.

"Holding a state-owned company must be a healthy company, giving added value rather than creating harm," Faisal said during a discussion on "Bungling Fortunes of Holding BUMN Holdings" in Jakarta.

According to Faisal, lessons learned in the formation of already-realized holdings, such as plantations and fertilizers, can serve as introspection for the government if it is to continue holding the holding.

Therefore, in the formation of state-owned holding companies, it should be seen if the companies that are losers or inefficient, should first be healthy through restructuring. Conversely, efficient SOEs should continue to be developed not to be disturbed by combining them with sick SOEs.

Down Stream

Meanwhile, Director of Business Development of PT Bukit Asam Fuad Iskandar Zulkarnain Fachroeddin explained that the holding mine will focus on upgrading the downstream project in the country. It is a holding step to enlarge domestic added value and increase the effectiveness of multiplier for industry.

Fuad said, there are several things that become the mine's holding consern to the future. First, coal gasification. He explained that the Minister of SOEs requested that no large coal outflow in and out. Going forward, coal production from the holding mines will be processed on-site into electricity and gas.

In addition to ensuring the supply of coal in the country, it will also affect the downstream industries, such as fertilizers and petrochemicals. "This is a concept from six years ago, but it has not started yet, we will run in the holding this time," he said at the ministry's office SOEs, Monday (4/12).

In addition to coal, holding will also increase the downstream of alumina. If all this time Inalum imports 100 percent alumina for aluminum raw material then in the future this raw material will be made in the country.

IN INDONESIA

Holding Migas akan Dibentuk pada 2018

Kementerian Badan Usaha Milik Negara (BUMN) saat ini sudah resmi membentuk induk perusahaan (holding) tambang. Holding tambang memiliki induk perusahaan PT Indonesia Asahan Aluminium (Inalum) dengan anggota PT Timah, PT Antam, dan PT Bukit Asam.

Untuk selanjutnya, Kementerian BUMN juga akan membentuk holding dengan sektor lainnya pada tahun depan. Holding migas rencananya akan segera dibentuk dengan induk perusahaannya, yaitu PT Pertamina. Rencananya, Kementerian BUMN akan akan membentuk holding migas pada kuartal I tahun depan. 

"Insya Allah (holding tambang dibentuk pada kuartal I tahun depan), masih dalam proses," kata Menteri BUMN Rini Soemarno di kawasan kompleks Bank Indonesia (BI), Senin (4/ 12).

Meskipun begitu, Rini belum bisa mengatakan lebih detail mengenai rencana pembentukan holding migas yang diharapkan bisa terbentuk pada kuartal I 2018 itu. Dia hanya mengatakan, meski sudah ada prosesnya, Rini belum mengetahui sudah di tahap mana pembentukan holding migas tersebut.

Padahal, dikabarkan munculnya Surat Menteri BUMN Nomor S-682/MBU/11/2017 kepada Direksi PT Perusahaan Gas Negara (PGN). Dalam surat tersebut, Rini menginstruksikan PGN segera melakukan Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) terkait rencana pembentukan holding migas. Meskipun surat tersebut sudah ada, Rini juga belum mau mengungkap mengenai intruksinya tersebut kepada PGN. 

"Sorry ini aku Iupa baru saja sampai. Tanyakan kepada Bapak Edwin (deputi Bidang Usaha Energi Logistik Kawasan dan Pariwisata Kementerian BUMN) sudah apa belum, saya terus terang tidak ingat," Kata Rini.

Pengamat ekonomi dari Universitas Indonesia, Faisal Basri, pekan lalu mengatakan, pembentukan holding (perusahaan induk) BUMN seharusnya dilakukan melalui kajian mendalam, transparan, dan tidak terburu-buru. Sehingga, pada kemudian hari tidak justru berdampak negatif terhadap masyarakat.

"Holding BUMN harus beranggotakan perusahaan yang sehat. Sehingga memberikan nilai tambah bukan menciptakan mudarat," kata Faisal saat berbicara dalam diskusi "Menakar Untung Rugi Holding BUMN", di Jakarta.

Menurut Faisal, pelajaran dalam pembentukan holding yang sudah terealisasi, seperti perkebunan dan pupuk, dapat dijadikan sebagai introspeksi bagi pemerintah jika ingin melanjutkan pembentukan holding.

Untuk itu, dalam pembentukan holding BUMN harus dilihat jenis usahanya jika perusahaan yang merugi atau tidak efisien, seharusnya terlebih dahulu disehatkan melalui restrukturisasi. Sebaliknya, BUMN yang sudah efisien harus terus dikembangkan bukan diganggu dengan menggabungkanya dengan BUMN yang sakit.

Hilirisasi

Sementara itu, Direktur Pengembangan Bisnis PT Bukit Asam Fuad Iskandar Zulkarnain Fachroeddin menjelaskan, holding tambang akan fokus untuk peningkatan proyek hilirisasi dalam negeri. Hal ini, merupakan langkah holding untuk memperbesar nilai tambah dalam negeri dan meningkatkan multiplier efect bagi industri.

Fuad mengatakan, ada beberapa hal yang menjadi consern holding tambang ke depan. Pertama, gasifikasi batu bara. Dia menjelaskan, Menteri BUMN meminta agar tidak ada aliran keluar masuk batu bara secara besar besaran. Ke depan, batubara produksi dari holding tambang akan diproses di tempat menjadi listrik dan gas.

Selain bisa untuk memastikan pasokan batu bara dalam negeri, hal ini juga akan berdampak pada industri hilir, seperti pupuk dan petrokimia. "Ini konsep dari enam tahun lalu, tapi belum dimulai. Kita akan jalankan di holding kali ini," ujarnya di kantor Kementerian BUMN, Senin (4/12).

Selain batu bara,  holding juga akan meningkatkan hilirisasi alumina. Jika selama ini Inalum mengimpor 100 persen alumina untuk bahan baku aluminium maka ke depan bahan baku ini akan dibuat di dalam negeri.

Republika, Page-15, Tuesday, Dec 5, 2017

Oil Holding Immediately Following Holding Mine

The establishment of oil and gas holding should be able to increase the capacity of oil and gas companies to be better than today.

The Ministry of SOE targets the formation of oil and gas holdings to be realized before the end of 2017 following the completion establishment of state-owned mine holding.

"After holding a state-owned mine formed on November 29, 2017, immediately following the formation of holding BUMN oil and gas," said Deputy Minister of Mining, Strategic Industries, and Media Fajar Harry Sampurno in the Office of the Ministry of SOEs, Jakarta.

According to Harry, the Government Regulation Draft (RPP) on the addition of State Equity Participation to the Capital of the Company's shares of PT Pertamina has been submitted to President Joko Widodo.

"In accordance with the process, the formation of holding must be through RPP," said Harry.

PT Pertamina will be the holding company of oil and gas state-owned PT Gas Negara (PGN) Tbk and PT Pertagas, a subsidiary of Pertamina. Harry, who is also PGN's President Commissioner, added that PGN as an open company must immediately hold extraordinary general shareholders meeting with the agenda of the company's articles of association change.

He missed the EGM's request regarding the future business plan of SOEs by majority shareholders is one thing reasonable.

"As a public company. that's normal. Very normal and every shareholder more than 10% ask for EGM, "he said.

From the RUPSLB's acceptance, Harry admitted that he will coordinate with the directors to hold an EGMS as soon as possible. "We will plan as soon as possible, indeed after the birth holding of state-owned mines," he said.

DPR Support

The House of Representatives (DPR) supports the oil and gas holding that is being initiated by the Ministry of SOEs. The merger of PGN to Pertamina is expected to improve financial capability and opportunity.

"Regarding the holding of oil and gas, we submit to the government that has a plan or road map. Even if it should be formed soon, yes immediately because there is still time of government today, "explained Vice Chairman of Commission VII DPR Herman Khaeron.

It is ready to oversee the realization of post-establishment of holding with supervision.

"It is so that PGN is currently growing good, with the holding not to slow down."

In addition, the establishment of holding should be able to increase the capacity of oil and gas companies to be better than today.

"Holding should accelerate investment acceleration to holding companies, improve service to the public, and deliver profit to the nation, "Herman said.

When met after a working meeting with Commission VII of the House of Representatives, President Director of PT Pertamina Elia Massa Manik was reluctant to comment on the holding on the grounds that it was still in process.

The establishment of oil and gas holding may be realized in early 2018 because the EGM must be held for 21 days from the announcement of the EGMS invitation in the mass media. Up to now the announcement regarding the EGMS is not yet available.

IN INDONESIA

Holding Migas Segera Menyusul Holding Tambang

Pembentukan holding migas harus mampu meningkatkap kapasitas perusahaan migas menjadi lebih baik dari saat ini.  

Kementerian BUMN menargetkan pembentukan Holding migas dapat terealisasi sebelum akhir 2017 menyusul tuntasnya pembentukan holding BUMN tambang.

“Setelah holding BUMN tambang terbentuk pada 29 November 2017, secepatnya menyusul pembentukan holding BUMN migas,” kata Deputi Bidang Pertambangan, Industri Strategis, dan Media Fajar Harry Sampurno di Kantor Kementerian BUMN, Jakarta.

Menurut Harry, Rancangan Peraturan Pemerintah (RPP) tentang Penambahan Penyertaan Modal Negara RI ke Dalam Modal Saham Perusahaan Perseroan PT Pertamina sudah disampaikan ke Presiden Joko Widodo.

“Sesuai dengan prosesnya, pembentukan holding harus melalui RPP,” kata Harry.

PT Pertamina akan menjadi perusahaan induk (holding) BUMN migas yang membawahkan PT Perusahaan Gas Negara (PGN) Tbk dan PT Pertagas, anak usaha Pertamina. Harry yang juga Komisaris Utama PGN menambahkan, PGN sebagai perusahaan terbuka harus segera menggelar rapat umum pemegang saham luar biasa (RUPSLB) dengan agenda perubahan anggaran dasar perusahaan.

Ia menjelalskan permintaan RUPSLB mengenai rencana bisnis BUMN ke depan oleh pemegang saham mayoritas ialah satu hal yang wajar. 

“Sebagai perusahaan publik. itu hal yang biasa. Sangat normal dan boleh setiap pemegang saham lebih dari 10% minta RUPSLB," ujarnya.

Dari permimaan RUPSLB tersebut, Harry mengaku akan berkoordinasi dengan direksi untuk mengadakan RUPSLB secepatnya. “Kita akan rencanakan secepatnya, memang setelah lahir holding BUMN tambang,” ujarnya.

Dukungan DPR 

Dewan Perwakilan Rakyat  (DPR) mendukung holding migas yang sedang diinisiasi Kementerian BUMN. Penggabungan PGN kepada Pertamina itu diharapkan dapat meningkatkan kemampuan keuangan dan kesempatan.

“Mengenai holding migas, kami serahkan kepada pemerintah yang memiliki perencanaan atau road map. Kalaupun harus segera dibentuk, ya segeralah karena masih ada waktu pemerintahan saat ini,” terang Wakil Ketua Komisi VII DPR Herman Khaeron.

Pihaknya siap mengawal realisasi pasca pembentukan holding dengan pengawasan. 

“Hal itu supaya seperti PGN yang saat ini tumbuh hagus, dengan adanya holding jangan sampai melambat.”

Selain itu, pembentukan holding harus mampu meningkatkan kapasitas perusahaan migas menjadi lebih baik daripada saat ini.

“Holding harus mempercepat akselerasi investasi kepada perusahaan holding, meningkatkan pelayanan kepada publik, dan memberikan keuntungan kepada bangsa,” kata Herman.

Saat ditemui seusai rapat kerja dengan Komisi VII DPR, Direktur Utama PT Pertamina Elia Massa Manik enggan memberikan komentar tentang holding dengan alasan masih berproses.

Pembentukan holding migas kemungkinan terealisasi di awal 2018 karena RUPSLB harus terselenggara menunggu 21 hari dari pengumuman undangan RUPSLB di media massa. Hingga kini pengumuman mengenai RUPSLB belum ada.

Media Indonesia, Page-18, Tuesday, Dec 5, 2017

Pertamina may find relief in fuel prices

The government might increase the price of certain fuel types sold by state-owned energy giant Pertamina to help ease the company’s financial burdens.

Since April 2016, the government has maintained the prices of Premium gasoline with a research octane number (RON) of 88 at Rp 6,450 (49 US cents) per liter and subsidized Solar diesel at Rp 5,150 per liter. This has forced Pertamina to bear the burden when the prices are below its real economic value.

Pertamina claims it lost $1.42 billion in potential revenues within the first nine months of 2017, because the Indonesian Crude Price (ICP) grew simultaneously by 28.9 percent year-on-year to $48.86 per barrel.

It has since sent a letter explaining its financial situation to the Energy and Mineral Resources Ministry, the Finance Ministry and the State- Owned Enterprises Ministry in hopes of some relief.

Commenting. on this matter, the Energy and Mineral Resources Ministry’s oil and gas director-general Ego Syahrial said the government initially decided to maintain the price of Premium and Solar in efforts to preserve people’s purchasing power.

“However, We’ll see the siniation prior to 2018. If the crude price surpasses $60 per barrel, we might have to adjust the prices, for instance, by increasing the price of Premium to Rp 6,750,” Ego said. 

The ICP stood at around $59 per barrel in November, while the price of global benchmark Brent crude even reached $63.73 per barrel on Dec. 1. The ministry. along with Pertamina and the Supreme Audit Agency (BPK). is also currently reviewing the price formula for Premium and Solar. which should be subject to adjustment once every three months.

At present, the formula takes into account several components, including the distribution cost, the value-added tax (PPN) and the motor vehicle fuel tax (PBBKB).

“The formula was initially introduced in 2015. Some cost components might have to be adjusted in line with the current situation,” Pertamina finance director Arief Budiman said.

A price adjustment Will be a big boost for Pertamina, which saw its total liabilities climb by 1.08 percent year-on-year (yoy) to $26.36 billion in the first half of 2017. As of 2016, the government still owed Pertamina Rp 22 trillion in subsidies for the sale of subsidized 3-kilogram liquefied petroleum gas (LPG) canisters and subsidized Solar diesel.

Moreover, the government has yet to pay Rp 8.4 trillion for gasoline supplied by Pertamina to the Indonesian Military since 2014. 

The government, however, has only committed to repay Rp 4 trillion of its military-related debts to Pertamina by the end of the year. Meanwhile, Pertamina president director Elia Massa Manik said it would be difficult for the company to accelerate its expansion efforts without any price adjustments.

Pertamina has estimated that it will need around $120 billion to support its business plans within the next decade, one-third of which will be used to finance various relinery projects. 

The company has allocated 85.5 billion in capital expenditure in 2018, up from $4.5 billion this year. It has projected that the figure will reach around $10 billion a year in the 2019-2021 period following the start of the construction of its refinery projects.

“Yes, We can still make a profit in 2017. [...] But in the future, it all depends on the crude price. That’s why we have voiced our

concerns to the government,” Elia said.

The government has also ordered Pertamina to support the former’s policy to ensure fuel prices are uniform in all corners of the archipelago. Pertamina plans to establish fuel distribution agents in 150 remote locations by 2019 with a total investment of around Hp 3.8 trillion to support the government.

Once completed, Pertamina estimates it will need to disburse Rp 3 trillion annually to keep the program running. As of today, Pertamina has only been able to build 34 fuel agents nationwide, 6.2.9 percent of the total target of 54 before year-end.

Jakarta Post, Page-13, Tuesday, Dec 5, 2017