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Saturday, December 30, 2017

Gas Process Refinished Rhino Must Pay



Special Unit for Upstream Oil and Gas Operations (SKK Migas) will pay any gas processed at the Badak LNG Plant, Bontang starting January 1, 2018. Through the decision of the Finance Minister of PT Badak NGL dated December 27, 2017 officially becomes operator, SKK Migas as a producer, and The State Asset Management Agency (LMAN) as the asset owner.

For information, Badak LNG Plant facility has a value of Rp 16 trillion. The assets consist of eight train or liquefied natural gas (LNG) processing plants, six LNG storage tanks, five LPG storage tanks, and three loading docks and other utilities.

In its business process, SKK Migas as the LNG Plant manufacturer must pay US $ 0.0022 per mmbtu if any gas is processed at the refinery to LMAN. This means that Badak NGL does not receive fees from SKK Migas or LMAN during the refinery operation.

Instead, SKK Migas instead replaces all the costs incurred by the NGL Badak during its refinery operations. Head of Program and Communication Division of SKK Migas Wisnu Prabawa Taher, said the involvement of SKK Migas in the management of Badak LNG Plant has nothing to do with the establishment of a Special Business Entity (BUK) of Oil and Gas. The plan for the establishment of BUK is included in the Draft Law on Oil and Gas.

Involvement of SKK Migas due to competence in upstream oil and gas sector. With the entry of SKK Migas is expected to maximize the management of existing refineries in Bontang with the target value of LNG sales transactions processed at the Badak refinery in the next year could reach Rp 32.5 trillion.

According to Wisnu, the ownership of LNG Plant Badak is located in LMAN, and SKK Migas with upstream competence, becomes a partner in the asset management for optimal output.

"Technical management is being prepared and the LNG Plan is essential for further upstream oil and gas development," he said.

As is known, SKK Migas participates in the control of Badak LNG operations.

Exactly January 1, 2018, SKK Migas has controls on operations and costs at the Badak natural gas (LNG) refinery located in Bontang, East Kalimantan.

The transfer of control from Pertamina Joint Management Group to SKK Migas enters a new phase with the agreement on the terms of the parties concerned. The agreement has been signed by Head of SKK Migas Amien Sunaryadi with related parties.

IN INDONESIA

Proses Gas dikilang Badak Harus Bayar


Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Migas (SKK Migas) akan membayar setiap gas yang diproses di Kilang LNG Badak, Bontang mulai 1 Januari 2018. Melalui keputusan Menteri Keuangan PT Badak NGL tertanggal 27 Desember 2017 resmi menjadi operator, SKK Migas sebagai produser, dan Lembaga Manajemen Aset Negara (LMAN) sebagai pemilik aset.

Sebagai informasi, fasilitas Kilang LNG Badak memiliki nilai sebesar Rp 16 triliun. Aset itu terdiri dari delapan train atau kilang pemrosesan liquefied natural gas (LNG), enam tangki penyimpanan LNG, lima tangki penyimpanan LPG, dan tiga loading dock dan utilitas lain.

Dalam proses bisnisnya nanti, SKK Migas sebagai produsen Kilang LNG itu harus membayar US$ 0,0022 per mmbtu jika ada gas diproses di kilang tersebut kepada LMAN. Artinya, Badak NGL tidak menerima fee dari dari SKK Migas maupun LMAN selama melakukan operasional kilang tersebut. 

Sebaliknya, SKK Migas malah mengganti semua biaya yang dikeluarkan Badak NGL selama menjadi operator kilang. Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengatakan, keterlibatan SKK Migas dalam pengelolaan Kilang LNG Badak tidak ada hubungannya dengan pembentukan Badan Usaha Khusus (BUK) Migas.  Rencana pembentukan BUK dimasukan ke dalam Rancangan Undang-Undang Migas.

Keterlibatan SKK Migas karena kompetensi di bidang hulu migas. Dengan masuknya SKK Migas diharapkan dapat memaksimalkan pengelolaan kilang yang ada di Bontang ini dengan target nilai transaksi penjualan LNG yang diproses di kilang Badak NGL pada tahun depan bisa mencapai Rp 32,5 triliun.

Menurut Wisnu kepemilikan LNG Plant Badak berada di LMAN, dan SKK Migas dengan kompetensi di bidang hulu, menjadi mitra dalam pengelolaan aset tersebut agar output optimal. 

"Teknis pengelolaan sedang disiapkan dan LNG Plan tersebut penting untuk pengembangan hulu migas selanjutnya, " ujarnya.

Seperti diketahui, SKK Migas ikut serta dalam pengendalian operasi LNG Badak.

Tepat 1 Januari 2018 nanti, SKK Migas memiliki kontrol pada operasional dan biaya di kilang gas alam cair (LNG) Badak yang berada di Bontang, Kalimantan Timur.

Peralihan kontrol dari Pertamina Joint Management Group ke SKK Migas memasuki tahap baru dengan kesepakatan pokok persyaratan antara pihak terkait. Kesepakatan itu sudah ditandatangani Kepala SKK Migas Amien Sunaryadi dengan pihak terkait.

Kontan, Page-14, Friday, Dec 29, 2017

Large-scale Government Gives KKKS Tax-Free Incentive




Although the new rules are out, the KKKS variable invests not because of the Government Regulation of Taxation

The government finally issued Government Regulation (PP) No. 53 of 2017 on Taxation on Upstream Oil and Gas Business Activities with Production Sharing Contracts Gross Split. This rule complements the Regulation of the Minister of Energy and Mineral Resources (ESDM) No. 8/2017 on the Gross Split Revenue Contract.

Deputy Minister of Energy and Mineral Resources, Arcandra Tahar, revealed that the content of the regulation has not changed much from the draft Government Regulation on Gross Split Tax designed by the Ministry of Energy and Mineral Resources. This means that within the rules will contain loss carry forward for 10 years and indirect tax exemption until the first oil and gas production.

Arcandra sure, this repair rule is in accordance with the wishes of upstream oil and gas business.

"No change, all the same as expected, Loss carry forward 10 years, then indirect tax until first oil-free," said Archandra.

In addition to these two points, there will be taxation facilities in the exploitation period that can be provided by the government on the basis of economics in the form of additional profit sharing (split) for the contractor. The additional split will be included in the Minister of Energy and Mineral Resources Regulation "In the Ministerial Regulation later, the connection exists for the economy," explained Arcandra.

This means that there will be a revision of the Minister of Energy and Mineral Resources Regulation on the gross split. According to him, the Cooperation Contract Contractor (KKKS) which can directly apply this tax regulation is Pertamina Hulu Energi to ONWJ Block. ONWJ Block is still the only oil and gas block that has implemented the scheme for gross split since January 2017.

Upstream Director of Pertamina Syamsu Alam said the regulation is good because with the issuance of Government Regulation there is already certainty about taxation in gross split. This can not be directly interpreted as profitable or unprofitable.

"But I think it will help the economy in the block." For Pertamina, especially in ONWJ I think this is good news, "he said.

Meanwhile, Energy Observer from Refominer Institute Pri Agung Rakhmanto stated that the newly set rules are good because they provide incentives to the KKKS.

"But it does not mean KKKS will be interested," he said.

According to him, in making the decision to invest that many variables. For example, investors see the credibility of the government and the rules of the game or policy.

"If the rules of the game change frequently, even though now out of new rules that give cannot be trusted investors and they still do not invest here," he said.

There is an auctioneer

With the new rules, the auction of oil and gas blocks is demanded. Arcandra said there are companies that enter the offer documents.

"There are several, at least there are three companies," he said.

Unfortunately, Arcandra does not mention the names of companies that have entered the tender offer. However, certainly the company exists from the country and there from abroad.

President Director of Saka Energi, Tumbur Parlindungan said that Saka has submitted bidding documents for the oil and gas block auctioned this year.

"Already entering the bid," said Tumbur

In addition to the match companies that have entered the bidding documents, the government is still waiting for another oil and gas company to participate. Arcandara hopes oil and gas companies that still want to follow the auction of oil and gas blocks this year can enter the offer document today, Friday (29/11). The auction closing was advanced from December 31, 2017 because the Government Regulation on Taxation of gross split is out.

IN INDONESIA

Pemerintah besar-besaran Memberi Insentif Bebas Pajak KKKS


Meski aturan baru sudah keluar, variabel KKKS berinvestasi bukan karena Peraturan Pemerintah tentang Perpajakan.

Pemerintah akhirnya menerbitkan Peraturan Pemerintah (PP) Nomor 53 Tahun 2017 tentang Perpajakan Pada Kegiatan Usaha Hulu Minyak dan Gas Bumi dengan Kontrak Bagi Hasil Gross Split. Aturan ini melengkapi Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) No 8/2017 tentang Kontrak Bagi Hasil Gross Split.

Wakil Menteri ESDM, Arcandra Tahar mengungkapkan, isi dari aturan tersebut tidak banyak berubah dari draf Rancangan Peraturan Pemerintah tentang Pajak Gross Split yang dirancang Kementerian ESDM. Ini berarti di dalam aturan tersebut akan memuat soal loss carry forward selama 10 tahun dan pembebasan pajak tidak langsung (indirect tax) sampai adanya produksi migas pertama kali.

Arcandra yakin, aturan perbaikan ini sudah sesuai keinginan para pelaku usaha hulu migas. 

"Tidak ada perubahan, semua sama sesuai harapan. Loss carry forward 10 tahun, lalu indirect tax sampai first oil free, kata Archandra.

Selain dua poin tersebut, akan ada fasilitas perpajakan di masa eksploitasi yang dapat diberikan pemerintah berdasarkan keekonomian berupa tambahan bagi hasil (split) bagi kontraktor. Tambahan split ini akan dimasukan ke dalam Peraturan Menteri ESDM.

 "Di Peraturan Menteri nanti, kaitannya ada untuk keekonomian," kata  Arcandra. 

Artinya akan ada revisi Peraturan Menteri ESDM tentang gross split. Menurut dia, Kontraktor Kontrak Kerja Sama (KKKS) yang bisa langsung menerapkan aturan perpajakan ini adalah Pertamina Hulu Energi untuk Blok ONWJ. Blok ONWJ memang masih menjadi satu-satunya blok migas yang sudah menerapkan skema bagi hasil gross split sejak Januari 2017.

Direktur Hulu Pertamina Syamsu Alam bilang, aturan ini baik karena dengan keluarnya Peraturan Pemerintah tersebut sudah ada kepastian mengenai perpajakan dalam gross split. Ini tidak bisa langsung diartikan menguntungkan atau tidak menguntungkan. 

"Tetapi saya kira akan membantu keekonomian dalam blok tersebut. Untuk Pertamina, terutama di ONWJ saya kira ini merupakan berita baik," kata dia.

Sementara itu, Pengamat Energi dari Refominer Institute Pri Agung Rakhmanto menyatakan, aturan yang baru saja ditetapkan itu bagus karena banyak memberikan insentif kepada para KKKS.

"Tapi tidak berarti KKKS akan tertarik" kata dia.

Menurut dia, dalam membuat keputusan untuk investasi itu banyak variabel. Misalnya, investor melihat kredibilitas pemerintah dan aturan main atau kebijakan. 

"Kalau aturan main sering berubah, meskipun sekarang keluar peraturan baru yang memberi  bisa tidak dipercaya investor dan mereka tetap tidak berinvestasi di sini," ujarnya.

Ada peminat lelang 

Dengan adanya aturan baru itu lelang blok migas ada peminatnya. Kata Arcandra sudah ada perusahaan yang memasukan dokumen penawaran. 

"Ada beberapa, setidaknya sudah ada tiga perusahaan," kata dia.

Sayang, Arcandra tidak menyebut nama-nama perusahaan yang telah memasukkan penawaran lelang. Namun, yang pasti perusahaan itu ada dari dalam negeri dan ada dari luar negeri.

Direktur Utama Saka Energi, Tumbur Parlindungan bilang Saka telah memasukkan dokumen penawaran untuk blok Migas yang dilelang tahun ini.

"Sudah memasukkan bid,"kata Tumbur 

Selain laga perusahaan yang sudah memasukan dokumen penawarannya, pemerintah masih menunggu lagi perusahaan migas lain agar ikut berpartisipasi. Arcandara berharap perusahaan migas yang masih ingin mengikuti lelang blok migas tahun ini bisa memasukan dokumen penawaran hari ini, Jumat (29/11). Penutupan lelang dimajukan dari sebelumnya 31 Desember 2017 karena Peraturan Pemerintah tetang Perpajakan gross split sudah keluar.

"Kami menutup lelang Jumat ini," tegas dia.

Kontan, Page-14, Friday, Dec 29, 2017

Mahakam Contributes 34% to National Oil and Gas



PT Pertamina Hulu Mahakam, a subsidiary of PT Pertamina Hulu Indonesia, which means the grandson of Pertamina, said it would provide an additional contribution of 34% of total oil and gas production nationally. The achievement after managing the Mahakam Block on January 1, 2018 later.

Pertamina is optimistic to keep production level in Mahakam block. President Director of Pertamina Hulu Indonesia, Bambang Manumayoso, explained that Pertamina has made various preparations and strategies to maintain the oil and gas production of the Mahakam block by ensuring the continuity of drilling and well intervention activities during the transition from Total E & P Indonesia Indonesie to Pertamina on 1 January 2018.

the Mahakam Block

Some of Pertamina's preparations include the transfer of Total E & P Indonesia workers who have signed the work agreement with the SOE. The amount reached 98.23%. It has drilled 14 well units from 15 wells by 2017 with good health, security, safety and environment (HSSE) achievement. Next year Pertamina is ready to add development wells, from 55 to 65 wells.

"As well as preparing investment costs of up to US $ 700 million and operating costs of US $ 1 billion," said Bambang.

Since production began in 1974, the Mahakam Block continues to produce oil and gas. In the RAPBN 2018, Pertamina Hulu Mahakam is targeted to produce in the range of 1,100 million cubic feet per day (mmscfd) of gas and 48,000 barrels per day (bopd) of oil. Pertamina has drilled 14 wells from 15 wells by 2017.

IN INDONESIA

Mahakam Berkontribusi 34% ke Migas Nasional


PT Pertamina Hulu Mahakam, anak perusahaan PT Pertamina Hulu Indonesia yang berarti cucu perusahaan Pertamina menyatakan, pihaknya akan memberikan tambahan kontribusi sekitar 34% dari total produksi migas secara nasional. Pencapaian itu setelah mengelola Blok Mahakam pada 1 Januari 2018 nanti.

Pertamina optimistis bisa menjaga tingkat produksi di Blok Mahakam. Direktur Utama Pertamina Hulu Indonesia Bambang Manumayoso menjelaskan, Pertamina telah melakukan berbagai persiapan dan strategi agar tetap menjaga produksi migas Blok Mahakam dengan memastikan keberlangsungan kegiatan pengeboran dan well intervention pada saat peralihan dari Total E&P lndonesie ke Pertamina pada 1 Januari 2018.

Beberapa persiapan Pertamina antara lain transfer pekerja Total E&P Indonesia yang sudah menandatangani perjanjian kerja dengan BUMN itu. Jumlahnya mencapai 98,23%. Lalu telah melakukan pengeboran 14 unit sumur dari program 15 sumur pada tahun 2017 dengan pencapaian health, security, safety dan environment (HSSE) yang baik.  Tahun depan Pertamina siap menambah sumur pengembangan, dari semula 55 menjadi 65 sumur. 

"Serta menyiapkan biaya investasi hingga US$ 700 juta dan biaya operasional sebesar US$ 1 miliar,” ujar Bambang.

Sejak produksi dimnlai pada tahun 1974, Blok Mahakam masih terus menghasilkan migas. Dalam RAPBN 2018, Pertamina Hulu Mahakam ditargetkan dapat berproduksi pada kisaran 1.100 juta kaki kubik per hari (mmscfd) gas dan 48.000 barel per hari (bopd) minyak. Pertamina sudah melakukan pengeboran 14 unit sumur dari program 15 sumur pada tahun 2017.

Kontan, Page-14, Friday, Dec 29, 2017

Badak Refinery Targeted 156 Cargo



The Badak gas liquefaction plant in Bontang, East Kalimantan, is targeted to produce liquefied natural gas (LNG) with a volume of 156 cargoes by 2018. This year, the realization of LNG and Bontang plant production is about 140 cargoes.

Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi said that next year there will be an additional gas volume from Jangkrik field, Muara Bakau Block, which is operated by Eni. As an illustration, he calls the Jangkrik Field gas production to touch 600 million cubic feet per day (million standard cubic feet per day)
day / MMscfd).

In addition to Jangkrik, Bontang refinery gets supplies from Mahakam Block (Total), Muara Bakau Block (Eni), Sanga-Sanga Block (VICO), East Kalimantan Block and Attaka (Chevron) and Bangka Field (Chevron) with a total supply of 1,500 MMscfd. Thus, next year is targeted to reach 156 cargoes.

"The Bontang plant will produce 156 cargoes of LNG next year, this year around 140 cargoes. Increase mainly from Eni, because it has just entered, "said Amien after attending the signing of the Memorandum of Understanding of the State Asset Management Agency (LMAN) with PT Badak NGL.

Related to Bontang refinery operation, he mentioned, as of January 1st, 2018 Bontang refinery operated by PT Badak NGL based on the assignment of the government of the assignment refers Letter of the Minister of Finance Number S-303 / MK.6 / 2017 dated 27 November 2017.

Operation scheme Badak LNG Plant after 2017 is a new pattern that the Directorate General of State Assets through LMAN as the owner of the assets and appoint PT Badak NGL to operate the refinery.

PT Badak NGL manages all infrastructure including eight train or LNG processing units, six LNG storage tanks, five liquefied petroleum gas (LPG) storage tanks, and three loading docks worth Rp 16 trillion.

According to Amien, the existence of the refinery is very important especially for the working areas in East Kalimantan and Makassar Strait. The reason is that gas production and some working areas of oil and gas are processed into LNG which can then provide state revenue, for example, said Amien, there are several newly operated projects such as Jangkrik Field and Indonesia Deepwater Development (IDD) project from Bangka Field.

According to him, if the activity at the refinery is disrupted, it will affect production activities in both projects. However, PT Badak does not accept payment and pay any fees. Meanwhile, the gas disbursement cost of US $ 0.22 cents per MMBtu was paid by gas producers.

IN INDONESIA

Kilang Badak Ditarget 156 Kargo


Kilang pencairan gas Badak di Bontang, Kalimantan Timur, ditarget bisa memproduksi gas alam cair (liquefied natural gas/LNG) dengan volume 156 kargo pada 2018. Tahun ini, realisasi produksi LNG dan Kilang Bontang itu sekitar 140 kargo.

Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Amien Sunaryadi mengatakan bahwa pada tahun depan terdapat volume gas tambahan dari lapangan Jangkrik, Blok Muara Bakau, yang dioperasikan Eni. Sebagai gambaran, dia menyebut produksi gas Lapangan Jangkrik menyentuh 600 juta kaki kubik per hari (million standard cubic feet per
day/MMscfd).

Selain Jangkrik, Kilang Bontang mendapat pasokan dari Blok Mahakam (Total), Blok Muara Bakau (Eni), Blok Sanga-Sanga (VICO), Blok East Kalimantan dan Attaka (Chevron) dan Lapangan Bangka (Chevron) dengan total pasokan 1.500 MMscfd. Dengan demikian, tahun depan ditargetkan bisa mencapai 156 kargo.

“Kilang Bontang itu produksi LNG tahun depan 156 kargo, tahun ini sekitar 140 kargo. Naik terutama dari Eni, karena baru saja masuk,” ujar Amien seusai menghadiri penandatanganan nota kesepahaman Lembaga Manajemen Aset Negara (LMAN) dengan PT Badak NGL. 

Terkait operasi Kilang Bontang, dia menyebut, per 1 Januari 2018 Kilang Bontang dioperasikan PT Badak NGL berdasarkan penugasan pemerintah penugasan tersebut mengacu Surat Menkeu Nomor S-303/MK.6/2017 tanggal 27 November 2017.

Skema pengoperasian Kilang LNG Badak setelah 2017 merupakan pola baru yakni Direktorat Jenderal Kekayaan Negara melalui LMAN sebagai pemilik aset dan menunjuk PT Badak NGL mengoperasikan kilang.

PT Badak NGL mengelola seluruh infrastruktur termasuk delapan train atau unit pengolahan LNG, enam tangki penyimpanan LNG, lima tangki penyimpanan liquefied petroleum gas (LPG), dan tiga loading dock senilai Rp 16 triliun.

Menurut Amien, keberadaan kilang tersebut sangat penting terutama untuk wilayah-wilayah kerja di Kalimantan Timur dan Selat Makassar. Pasalnya, produksi gas dan beberapa wilayah kerja migas itu diolah menjadi LNG yang kemudian bisa memberikan penerimaan negara, sebagai contoh, tutur Amien, terdapat beberapa proyek yang baru beroperasi seperti Lapangan Jangkrik dan proyek Indonesia Deepwater Development (IDD) dari Lapangan Bangka. 

Menurutnya, bila kegiatan di kilang terganggu, hal itu akan mempengaruhi kegiatan produksi di kedua proyek itu. Kendati demikian, PT Badak tidak menerima pembayaran dan membayar biaya apapun. Adapun, biaya pencairan gas US$ 0,22 sen per MMBtu dibayar para produsen gas.

Bisnis Indonesia, Page-30, Friday, Dec 29, 2017

Thursday, December 28, 2017

Industrial Gas Price Calculate PNBP



Coordinating Minister for Economic Affairs Darmin Nasution said the decline in gas prices for the industry will be done by considering the reduction of Non-Tax State Revenues (PNBP) from the gas sector.

"The decline can only be done by reducing PNBP," said Darmin after chairing a coordination meeting on gas prices for
industry.

He said the Ministry of Industry is still calculating the potential decrease of non-tax revenues so that industrial gas price adjustment does not affect the state revenue.

"If the benefit is lowered, how much? do not we do things that benefit is smaller, "he said

Previously, the government issued a package of economic policy volume III in May 2016, which states the decline in gas prices for industry. The government then issued Presidential Regulation no. 40/2016 on the determination of natural gas price is not higher than US $ 6 per mmbtu.

Determination of natural gas price for industrial users of fertilizer, petrochemical, oleochemical, steel, ceramics, glass, and gloves. However, until now three industries that have received natural gas price relief, namely fertilizer, steel, and petrochemical industries.

Deputy Minister of EMR Arcandra Tahar added that the downside focus of the PNBP is also considering reducing costs in the upstream and downstream sectors of the gas. However, it guarantees a decrease of non-tax revenues from the gas sector and the figures are still recalculated by the Ministry of Industry.

IN INDONESIA

Harga Gas Industri Perhitungkan PNBP


Menteri Koordinator Bidang Perekonomian Darmin Nasution mengatakan penurunan harga gas untuk industri akan dilakukan dengan mempertimbangkan pengurangan Penerimaan Negara Bukan Pajak (PNBP) dari sektor gas.

“Penurunan hanya bisa dilakukan dengan mengurangi PNBP,” ujar Darmin seusai memimpin rapat koordinasi mengenai harga gas untuk
industri. 

Ia mengatakan Kementerian Perindustrian masih menghitung potensi penurunan PNBP agar penyesuaian harga gas industri tidak terlalu memegaruhi penerimaan negara. 

“Jika diturunkan benefit-nya,  berapa? jangan kita lakukan hal yang benefit-nya lebih kecil,” ujarnya 

Sebelumnya, pemerintah menarbitkan paket kebijakan ekonomi jilid III pada Mei 2016, yang menyatakan penurunan harga gas untuk industri. Pemerintah lalu mengeluarkan Peraturan Presiden No. 40/2016 tentang penetapan harga gas bumi tidak lebih tinggi dari US$ 6 per mmbtu. 

Penetapan harga gas bumi itu untuk pengguna industri pupuk, petrokimia, oleochemical, baja, keramik, kaca, dan sarung tangan. Namun, hingga kini haru tiga industri yang mendapat keringanan harga gas bumi, yaitu industri pupuk, baja, dan petrokimia.

Wakil Menteri ESDM Arcandra Tahar menambahkan fokus penurunan PNBP ini juga mempertimbangkan penurunan biaya di hulu dan hilir sektor gas. Namun, ia menjamin penurunan PNBP dari sektor gas tidak terlalu banyak dan angkanya masih dihitung ulang oleh Kementerian Perindustrian.

Media Indonesia, Page-17, Thursday, Dec 28, 2017

Indonesia braces for gas oversupply



Indonesia is bracing itself for an unexpected oversupply of gas amid slowing domestic demand, partly due, to the government’s poor planning in arranging the country’s gas balance.

The country was projected to see a gas shortage amounting to 1,329 million standard cubic feet per day (mmscfd) last year, according to the 2016-2035 gas balance formulated by the Energy and Mineral Resources Ministry. 

The shortage was expected to gradually fall to 903 mmscfd of gas in 2018, before soaring once again to 1,670 mmscfd in 2019. However, actual gas demand in 2016, including for domestic market and exports, stood at only 6,676 mmscfd of gas, far below the projected 8,072 mmscfd stated in the gas balance, according to data compiled by state-owned gas distributor PT Perusahaan Gas Negara (PGN).

As a result, PT Badak NGL, the operator of a major liquefied natural gas (LNG) plant in Bontang, East Kalimantan, has failed to find domestic buyers for 38 LNG cargoes this year, or 22.2 percent of its full-year production of 171 cargoes. The company has also estimated there will be 47 uncommitted LNG cargoes next year from a total production of around 160 to 170 cargoes.

“The actual demand is far below what has been planned by the government,” PGN head of marketing and product development Adi Munandir said recently. 

“If the government fails to respond properly to this situation, there will be a prolonged oversupply of gas in the country.”

Adi said such a mismatch between supply and demand could occur because there had been no integrated roadmap on gas infrastructure development nation-wide. 

Previously in October, Deputy Energy and Mineral Resources Minister Arcandra Tahar said his side would soon revise Indonesia’s gas balance to align it with the current market condition, especially considering the soaring number of uncommitted LNG cargoes.

“We will improve the gas balance so that the projections can be more reliable and we can calculate carefully whether or not we need to import LNG in the future,” Arcandra said.

The Industry Ministry has projected that gas demand from industrial sector will gradually increase to 903,356.5 million British thermal units (mmbtu) in 2019 from 782,829.4 mmbtu last year by taking into account the development of a number of special economic zones (KEKS) in the country.

As of today, the government has granted KEK status to 12 areas in various regions. Nonetheless, the development of such projects has moved at a snail’s pace, partly due to land procurement problems. Subsequently, it has been difficult for investors to realize their committed investment at those KEKS.

Meanwhile, state electricity Firm PLN initially estimated that Indonesia’s annual gas demand for power generation would increase to 2,805 billion British thermal units per day (bbtud) in 2026 from 1,548 bbtud in 2017, especially considering its plan to develop new gas-fueled and combined-cycle power plants worth 24.4 gigawatts (GW) in the next decade.

But the projection might no longer be relevant as the company has revealed a plan to postpone the development of several gas-fueled facilities, particularly the power plants projected to be used as peaker plants, due to slower-than-expected electricity sales. Hence, its annual gas demand will subsequently fall.

This situation occurs at a time when Indonesia has just started new production at dozens of oil and gas fields. Between January and October, 14 upstream projects were on stream with an estimated peak production rate of 21,280 barrels of oil per day (bopd) and 1,193.7 mmscfd of gas, according to the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas).

The country will also see additional gas production of 1,120 mmscfd from the Gendalo and Gehem fields in Makassar Strait once they are on stream in the 2022-2023 period. Meanwhile, the Jambaran-Tiung Biru field in East Java is slated to produce 172 mmscfd of gas by 2020. Moreover, train 3 of the Tangguh LNG plant in West Papua is also projected to commence production with a capacity of 3.8 million tons per annum (mtpa) in 2020.

Jakarta Pos, Page-13, Thursday, Dec 28, 2017

The Government Is Not Extending The Auction Of Oil and Gas Blocks



The government decided not to extend the auction of oil and gas blocks that ended on 29 December. Oil and gas companies are asked to re-enter their tender documents.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said it hoped oil and gas companies to enter their auction documents until the end of this year. because the deadline for submitting documents has been set by the end of this December. While the auction will no longer be extended.

"No renewed auction of oil and gas blocks. The oil and gas company should file a tender document now, "he said in Jakarta.

As it is known, the government has expanded the first time of the auction for the first phase of oil and gas blocks in 2017. The auction of oil and gas blocks has been postponed due to waiting for the government regulation (PP) regulating the taxation of gross split oil and gas contracts.

Not only that, in September, the government issued Ministerial Regulation 52/2017 which is a revision of Ministerial Regulation 8/2017 which became the basis of gross split oil and gas contract.

In the last announcement, the retrieval of the auction document of the oil and gas block is extended to 24 December. Furthermore, the limit of the submission of tender documents shall be until December 31, 2017. Initially, when it was announced in May, the auction deadline of the oil and gas block of direct bidding scheme was set on July 19.

Previously, Arcandra had revealed, as many as 20 auction documents have been accessed by bidders. Although not sure how many documents are returned, as many as five companies promise to enter the auction documents without waiting for the release of Government Regulation on gross split tax.

Regarding Government Regulation of gross split tax, Arcandra said, the design has been signed by the Minister of Finance and Minister of EMR.

"Still waiting for the signature President," he said.

It continues to oversee the process of making this Government Regulation to be issued soon and provide investment certainty. The regulation shall prescribe the taxes imposed and shall be exempted under the oil and gas gross split contract.

One of them, oil and gas companies will be exempt from Land and Building Tax and Import Duty. Likewise, for indirect taxes, oil and gas companies will not be taxed during the exploration period, ie from the approval of the plan of development (POD) to the first oil production (first oil).

Not only that, investors will also get a 10-year tax loss carryforward facility. This is because, at the beginning of the oil and gas project, oil and gas companies have not yet earned income from the project. Furthermore, all expenses incurred until the first drops of oil are produced will be tax deductions for up to 10 years.

Previously, the Secretary of the Board of Directors of Indonesian Petroleum Association (IPA) Ronald Gunawan revealed that the Government Regulation detailing the tax treatment for oil and gas contract scheme gross split awaited by oil and gas companies. Because all new oil and gas contracts are required to use this scheme.

"If the Government Regulation has been approved, we expect investors to be able to evaluate and make business decisions," he said.

The block auctioned by the government recorded 15 oil and gas blocks, 10 conventional oil and gas blocks and five non-conventional oil and gas blocks. A total of 10 blocks of oil and gas have the potential of oil reserves of about 830 million barrels and 22 trillion cubic feet of gas.

While the potential for oil for five non-conventional oil and gas blocks is about 640 million barrels and 17 trillion cubic feet of gas. For conventional oil and gas block auctioned through direct offer are Andaman I and Iaman Block II offshore Aceh, South Tuna Block offshore Natuna, Lampung Merak Block offshore and Banten-Lampung mainland, Pekawai Block offshore East Kalimantan, Block West Yamdena offshore and mainland Maluku, and Kasuri III Block in West Papua.

While offered with regular auctions are the Tongko Block offshore Natuna, East Tanimbar off the coast of Maluku, and the Mamberano Block on the mainland and offshore Papua.

IN INDONESIA

Pemerintah Tidak Perpanjang Lelang Blok Migas


Pemerintah memutuskan untuk tidak lagi memperpanjang masa lelang blok migas yang berakhir pada 29 Desember ini. Perusahaan migas diminta segera memasukkan kembali dokumen lelangnya.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, pihaknya berharap perusahaan migas memasukkan dokumen lelangnya sampai akhir tahun ini. karena batas waktu memasukkan dokumen telah ditetapkan pada akhir Desember ini. Sementara lelang tidak akan lagi diperpanjang.

“Tidak diperpanjang lelang blok migas. Perusahaan migas harus mengajukannya dokumen lelang sekarang,” kata dia di Jakarta.

Seperti diketahui, pemerintah sudah kali ketiga memperpanjang masa lelang blok migas tahap pertama 2017. Lelang blok migas terus ditunda penutupannya karena menunggu keluarnya peraturan pemerintah (PP) yang mengatur tentang perpajakan kontrak migas gross split.

Tidak hanya itu, pada September lalu, pemerintah mengeluarkan Peraturan Menteri 52/2017 yang merupakan revisi Peraturan Menteri 8/2017 yang menjadi dasar kontrak migas gross split.

Dalam pengumuman terakhir, pengambilan dokumen lelang blok migas diperpanjang hingga 24 Desember. Selanjutnya batas pemasukan dokumen lelang diberi waktu hingga 31 Desember 2017. Awalnya, ketika diumumkan dibuka pada Mei lalu, batas waktu lelang blok migas skema penawaran langsung ditetapkan pada 19 Juli.

Sebelumnya, Arcandra sempat mengungkapkan, sebanyak 20 dokumen lelang telah diakses oleh peserta lelang. Meski belum memastikan berapa dokumen yang dikembalikan, sebanyak lima perusahaan menjanjikan akan memasukkan dokumen lelangnya tanpa menunggu keluarnya Peraturan Pemerintah tentang pajak gross split.

Terkait Peraturan Pemerintah tentang pajak gross split, Arcandra menuturkan, rancangannya telah ditandatangani oleh Menteri Keuangan dan Menteri ESDM. 

“Masih menunggu Presiden tanda tangan,” ujarnya. 

Pihaknya terus mengawal proses pembuatan Peraturan Pemerintah ini agar dapat segera dikeluarkan dan memberikan kepastian investasi. Regulasi tersebut akan menetapkan pajak-pajak yang dikenakan dan menjadi pengecualian dalam kontrak migas gross split. 

Salah satunya, perusahaan migas akan dibebaskan dari Pajak Bumi dan Bangunan dan Bea Masuk. Demikian juga untuk pajak tidak langsung, perusahaan migas tidak akan dikenakan pajak selama masa eksplorasi, yakni dari persetujuan rencana pengembangan (plan of development/ POD) hingga produksi minyak pertama (first oil). 

Tidak hanya itu, investor juga akan memperoleh fasilitas penangguhan pembayaran pajak penghasilan (tax loss carry forward) 10 tahun. Hal ini lantaran pada awal proyek migas, perusahaan migas belum memperoleh pendapatan dari proyek yang dikerjakan. Selanjutnya, seluruh biaya yang dikeluarkan sampai dihasilkan tetes minyak pertama akan menjadi pengurang pajak sampai 10 tahun.

Sebelumnya, Sekretaris Board of Director Indonesian Petroleum Association (IPA) Ronald Gunawan mengungkapkan, Peraturan Pemerintah yang merinci tentang perlakuan perpajakan untuk kontrak migas skema gross split ditunggu oleh perusahaan migas.  Pasalnya, seluruh kontrak migas baru wajib menggunakan skema ini.

“Kalau Peraturan Pemerintah sudah disetujui, kami harapkan investor bisa evaluasi dan membuat business decision," ujarnya.

Adapun blok yang dilelang oleh pemerintah tercatat terdapat 15 blok migas, 10 blok migas konvensional dan lima blok migas non-konvensional. Sebanyak 10 blok migas konvensional ini memiliki potensi cadangan minyak sekitar 830 juta barel dan gas 22 triliun kaki kubik. 

Sementara potensi minyak untuk lima blok migas non-konvensional sekitar 640 juta barel dan gas 17 triliun kaki kubik. Untuk blok migas konvensional yang dilelang melalui penawaran langsung adalah Blok Andaman I dan Andaman II di lepas pantai Aceh, Blok South Tuna di lepas pantai Natuna, Blok Merak Lampung di lepas pantai dan daratan Banten-Lampung, Blok Pekawai di lepas pantai Kalimantan Timur, Blok West Yamdena di lepas pantai dan daratan Maluku, dan Blok Kasuri III di Papua Barat. 

Sementara yang ditawarkan dengan lelang reguler yakni Blok Tongko di lepas pantai Natuna, East Tanimbar di lepas pantai Maluku, dan Blok Mamberano di daratan dan lepas pantai Papua.

Investor Daily, Page-9, Thursday, Dec 28, 2017

Work on the Mahakam block, Pertamina Cooperate with Partners



PT Pertamina is an expert in partnering with partners as one of the strategies to manage the Mahakam block starting January 1, 2018. However, the company has not set which oil and gas company will be its partner.

"One of our strategies is partnership," said Pertamina President Director Elia Massa Manik in Jakarta.

However, cooperation with other oil and gas companies does not have to start on January 1, 2018. The release of corporate rights to the other party can be done anytime. It also has not confirmed whether Total E & P Indonesia and Inpex Corporation will re-join the Mahakam block, or there are other companies.

'"We'll see," he said.

Earlier, Total E & P Indonesie also said it wanted to rejoin the Mahakam Block if it could get 39% participation rights. Not only Total, Mubadala Petroleum, a UAE oil and gas company, expressed interest in joining the Mahakam block. This was conveyed by the leadership of Mubadala to the Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar last November.

Related letter from the Ministry of Energy and Mineral Resources (ESDM) which opens the opportunity Total and Inpex earn participation rights up to 39%, Elijah said not yet received his side.

"There is no letter to us," he said.

Last week, Deputy Minister of Energy and Mineral Resources Arcandra Tahar revealed that he had signed a letter allowing Pertamina to abandon the participation rights of Mahakam Block to another party up to 39%. This letter revises the letter sent in the ESDM Minister Sudirman Said's era that limits the maximum 30% participation allowance to be released.

"There's already a letter. It can be up to 39% (part of the participation is released), "said Arcandra.

Meanwhile, Upstream Director of Pertamina Syamsu Alam had stated, Pertamina able to work on Mahakam Block with or without partners.

"Are we able to manage the Mahakam? Capable, employees stay there, then we have some finance who want to join. So we wait until the end of the year, "said Alam.

Previously, as known Pertamina has signed a new contract of Blok Mahakam valid from January 1, 2018 at the end of 2015 ago. Under the contract, the company promised a signature bonus of US $ 41 million.

IN INDONESIA

Kerjakan Blok Mahakam, Pertamina Gandeng Mitra


PT Pertamina akal menggandeng mitra sebagai salah satu strategi dalam mengelola Blok Mahakam mulai 1 Januari 2018. Meski demikian, perseroan belum menetapkan perusahaan migas mana yang akan menjadi mitranya.

“Salah satu strategi kami adalah partnership,” kata Direktur Utama Pertamina Elia Massa Manik di Jakarta.

Meski demikian, kerja sama dengan perusahaan migas lain ini tidak harus dimulai pada 1 Januari 2018. Pelepasan hak partisipasi perseroan ke pihak lain dapat dilakukan kapan saja. Pihaknya juga belum memastikan apakah Total E&P Indonesia dan Inpex Corporation akan kembali bergabung mengelola Blok Mahakam, atau justru ada perusahaan lain.

‘"Nanti kami lihat,” ujarnya. 

Sebelumnya, Total E&P Indonesie juga menyatakan ingin bergabung kembali di Blok Mahakam jika bisa memperoleh hak partisipasi 39%. Tidak hanya Total, Mubadala Petroleum yang merupakan perusahaan migas Uni Emirat Arab menyatakan minatnya untuk ikut mengelola Blok Mahakam. 

      Hal ini disampaikan pimpinan Mubadala kepada Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar pada November lalu.

Terkait surat dari Kementerian Energi dan Sumber Daya Mineral (ESDM) yang membuka kesempatan Total dan Inpex memperoleh hak partisipasi hingga 39%, Elia menyebut belum diterima pihaknya.

“Tidak ada suratnya ke kami,” kata dia.

Pada pekan lalu, Wakil Menteri ESDM Arcandra Tahar mengungkapkan sudah menandatangani surat yang mengizinkan Pertamina melepas hak partisipasi Blok Mahakam kepada pihak lain sampai 39%. Surat ini merevisi surat yang dikirim pada era Menteri ESDM Sudirman Said yang membatasi hak partisipasi yang boleh dilepas maksimal 30%.

“Kan sudah ada suratnya. Boleh up to 39% (bagian partisipasi yang dilepas) ,” kata Arcandra.

Sementara itu, Direktur Hulu Pertamina Syamsu Alam sempat menyatakan, Pertamina mampu menggarap Blok Mahakam dengan atau tanpa mitra. 

“Apakah kami mampu mengelola Mahakam? Mampu, karyawan tetap di sana, lalu kami ada beberapa finance yang mau bergabung. Jadi kami tunggu sampai akhir tahun,” tegas Alam.

Sebelumnya, seperti diketahui Pertamina telah menandatangani kontrak baru Blok Mahakam yang berlaku mulai 1 Januari 2018 pada akhir 2015 lalu. Dalam kontrak itu, perseroan menjanjikan bonus tanda tangan US$ 41 juta.

Investor Daily, Page-9, Thursday, Dec 28, 2017

Sign in Mahakam block, Total EP Must Pay Rp 49 Trillion



If not able to pay, Pertamina opens opportunities for other investors in Mahakam Block.

Although Total EP Indonesie is allowed to control 39% stake in the Mahakam Block, the French company should not be happy. Based on the calculation of Special Unit for Upstream Oil and Gas Business (SKK Migas), the asset value of Mahakam block as of December 31, 2017 will reach US $ 9.43 billion or equivalent to around Rp 127 trillion.

The value of the assets of the Mahakam Block is increased by more than 100% compared to the calculation in January 2016 by IHS and Petropro used by SKK Migas at that time. The valuation of Mahakam's assets was only US $ 3.45 billion or around Rp 47 trillion.

the Mahakam Block

Head of Programs and Communications Division of SKK Migas Wisnu Prabawa Taher said the calculation of estimated asset value of Mahakam Block as of December 31, 2017 based on capital assets, inventory, and inventory materials.

"The value is US $ 9.43 billion (Rp 127 trillion)," he said.

He said the calculation of US $ 9.43 billion was not using the asset calculation institution but using internal calculations SKK Migas by doing physical checks Mahakam block. From that calculation, there is indeed a significant increase compared with the previous calculation.

"The price of oil is certainly one of the things that cause its value to rise," said Vishnu.

As a result, with the benchmark, Total EP must spend the US $ 3.67 billion if it wants to get 39% stake in Mahakam Block. The value is around Rp 49.6 trillion (assuming an exchange rate of Rp 13,500 per US dollar), and is equivalent to a 100% valuation of the Mahakam Bloc by 2016.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar previously stated that the entry of potential investors Mahakam block can be done after Pertamina, through its subsidiary PT Pertamina Hulu Mahakam, fully controls the Mahakam Block starting January 1, 2018. That is, Total EP Indonesie entering current or while the contract is still in progress.

Total EP will discuss directly the amount of Valuation value that they must redeem to get 39% stake in Mahakam block with Pertamina. Unfortunately, President & General Manager and Group Representative for Indonesia Arividya Noviyanto did not answer the confirmation of their willingness and willingness to pay that much or even withdraw.

Syamsu Alam, Upstream Director of Pertamina, said that the company is focusing on the business to the business process (B to B) that Pertamina will undertake with potential partners in the Mahakam Block.

"The process remains primarily B to B and its aspect is not just the percentage," Alam said.

In fact, Syamsu Alam said, there are already some companies interested in joining Pertamina in the block beside Total EP.

"There are some companies that have expressed an interest to enter the Mahakam," he said.

Outside of Total EP and Inpex, there are also companies from the United Arab Emirates, Mubadala Petroleum, who have expressed an interest in partnering with Pertamina in the Mahakam Block.

President Director of Pertamina Elia Massa Manik said, in addition to focus on finding partners, it also concerns about production. Next year Pertamina targets production in the range of 1,100 million cubic feet per day (mmscfd) of gas and 48,000 barrels per day (bopd) of oil. 

    To achieve the target, Pertamina allocates investment next year to reach US35 700 million. This is added to the operating costs of US $ 1.1 billion.

Pertamina has also drilled two wells and 14 wells-15 wells by the end of 2017. Based on the estimates, the Mahakam Block is now leaving a reserve of 57 million barrels of oil, 45 million barrels of condensate, and 4.9 tcf of gas.

IN INDONESIA

Masuk ke blok Mahakam, Total EP Harus Bayar Rp 49 Triliun


Jika tidak sanggup membayar, Pertamina membuka peluang bagi investor Iain di Blok Mahakam.

Meskipun Total EP Indonesie diizinkan menguasai 39% saham di Blok Mahakam, perusahaan Prancis itu tidak boleh gembira dulu. Berdasarkan hasil perhitungan Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), nilai aset Blok Mahakam per 31 Desember 2017 akan mencapai US$ 9,43 miliar atau setara dengan sekitar Rp 127 triliun.

Nilai aset Blok Mahakam ini meningkat drastis lebih dari 100% dibandingkan perhitungan pada Januari 2016 oleh IHS dan Petropro yang dipakai SKK Migas saat itu. Valuasi aset Mahakam saat itu hanya sebesar US$ 3,45 miliar atau sekitar Rp 47 triliun.

Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengatakan, perhitungan estimasi nilai aset Blok Mahakam per 31 Desember 2017 berdasarkan harta benda modal, inventaris, dan material persediaan. 

"Nilainya sebesar US$ 9,43 miliar (Rp 127 triliun)," kata dia.

Dia mengatakan, perhitungan sebesar US$ 9,43 miliar itu tidak menggunakan lembaga perhitungan aset melainkan memakai perhitungan internal SKK Migas dengan melakukan cek fisik Blok Mahakam. Dari perhitungan itu memang ada kenaikan signifikan dibandingkan dengan perhitungan sebelumnya. 

"Harga minyak tentu saja salah satu hal yang menyebabkan nilainya naik," kata Wisnu.

Alhasil, dengan patokan itu, Total EP harus merogoh kocek US$ 3,67 miliar jika ingin mendapatkan 39% saham Blok Mahakam. Nilai itu sekitar Rp 49,6 triliun (dengan asumsi kurs Rp 13.500 per dollar AS), dan setara dengan valuasi 100% Blok Mahakam versi penilaian tahun 2016.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar sebelumnya menyatakan, masuknya calon investor Blok Mahakam bisa dilakukan setelah Pertamina, melalui anak usahanya PT Pertamina Hulu Mahakam, menguasai secara penuh Blok Mahakam mulai 1 Januari 2018. Artinya, Total EP Indonesie tidak harus masuk saat ini atau saat kontrak masih berlangsung.

Total EP akan membahas secara langsung besaran nilai Valuasi yang harus mereka tebus untuk mendapatkan 39% saham di Blok Mahakam dengan Pertamina. Sayang, President & General Manager dan Group Representative untuk Indonesia Arividya Noviyanto tidak menjawab konfirmasi ihwal kesanggupan dan kesediaan mereka membayar sebesar itu atau malah mundur.

Syamsu Alam, Direktur Hulu Pertamina menyatakan sedang berfokus pada proses business to business (B to B ) yang akan dilakukan Pertamina dengan calon partner di Blok Mahakam. 

"Prosesnya tetap diutamakan secara B to B dan aspeknya bukan hanya besaran persentasenya," kata Alam.

Bahkan, Syamsu Alam bilang, sudah ada beberapa perusahaan yang berminat bergabung dengan Pertamina di blok tersebut selain Total EP. 

"Ada beberapa perusahaan yang sudah menyampaikan minat untuk masuk ke Mahakam," katanya.

Di luar Total EP dan Inpex, ada juga perusahaan asal Uni Emirat Arab, Mubadala Petroleum, yang sudah menyampaikan minat bermitra dengan Pertamina di Blok Mahakam.

Direktur Utama Pertamina Elia Massa Manik menyatakan, selain fokus mencari mitra, pihaknya juga concern terhadap produksi. Tahun depan pertamina menargetkan produksi pada kisaran 1.100 juta kaki kubik per hari (mmscfd) gas dan 48.000 barel per hari (bopd) minyak. 

    Untuk mencapai target tersebut, Pertamina mengalokasikan investasi pada tahun depan mencapai US35 700 juta. lni masih ditambah dengan biaya operasi mencapai US$ 1,1 miliar.

Pertamina juga sudah melakukan pengeboran dua sumur dan 14 sumur-15 sumur sampai akhir tahun 2017 ini. Berdasarkan perkiraan, Blok Mahakam kini masih menyisakan cadangan 57 juta barel minyak, 45 juta barel kondensat, dan 4,9 tcf gas.

Kontan, Page-14, Thursday, Dec 28, 2017