Concerning the Fate of Termination Block, Pertamina Send a letter to the Government

PT Pertamina said it has sent a letter to the Ministry of Energy and Mineral Resources (ESDM) regarding the management of the termination block in the future. The new termination block contract needs to be signed soon as several blocks will end their existing contract in February.

As is known, the government has commissioned the management of eight blocks that ended its contract this year to Pertamina. Of the eight blocks, Pertamina is assured of obtaining the rights of North Sumatra Offshore and Central Block management, as it will be combined with its block with Pertamina currently owned.

The other two blocks, East Kalimantan Block and Attaka will be auctioned after Pertamina and the existing contractor have declared no interest in doing so.

As for the other four blocks, Pertamina must compete with the existing contractors because the government wants the best proposal development proposal.

Oil and Gas Block

These four blocks are Tuban Block, Ogan Komering, South East Sumatera, and Sanga-Sanga. Ogan Komering Block is currently managed by Pertamina with Talisman, while the Tuban Block is managed by PetroChina East Java with Pertamina. Then, the South East Sumatera Block was done by CNOOC and Sanga-Sanga Block by Vico Indonesia.

"On Monday (22/1), we have sent a letter to the Ministry of Energy and Mineral Resources related to the blocks," said Pertamina Upstream Director of Syamsu Alam in Jakarta, Monday (22/1).

Unfortunately, Nature is reluctant to reveal what the contents of the letter. He only mentioned this letter related to the management of the termination blocks in the future. In addition, the letter does not discuss the right to match offered to the company. Nature also does not want to mention which blocks are still interested in Pertamina.

"Just wait later if there is a final decision," he said.

Previously, Secretary General and Director General of Oil and Gas at the Ministry of ESDM Ego Syahrial said that the government has completed the evaluation of the proposed development plan of existing contractual contractors (KKKS). As a result, the proposals from the existing KKKS are considered slightly better than Pertamina.

"Pertamina again thinks what Pertamina wants to right to match. So this position awaits Pertamina, "he said.

He said the government provides an opportunity for Pertamina to right to match or match the existing contractor's offer in order to obtain the termination block management. This is to ensure the country gets the best offer, so the state revenue from the block is not reduced.

It targets, the new termination block contract can be signed at the beginning of this year. It is recalled that some blocks will expire in February. Precisely Tuban Block will end its contract on February 23, 2018, and Ogan Komering Block on February 28, 2018.

IN INDONESIA

Soal Nasib Blok Terminasi, Pertamina Mengirim surat ke Pemerintah

PT Pertamina menyatakan telah mengirim surat ke Kementerian Energi dan Sumber Daya Mineral (ESDM) tentang pengelolaan blok terminasi ke depannya. Kontrak baru blok terminasi ini perlu segera ditandatangani mengingat beberapa blok akan berakhir kontrak eksistingnya pada Februari ini.

Seperti diketahui, pemerintah telah menugaskan pengelolaan delapan blok yang berakhir kontraknya pada tahun ini kepada Pertamina. Dari delapan blok itu, Pertamina dipastikan memperoleh hak pengelolaan Blok North Sumatera Offshore dan Tengah, karena akan digabungkan pengelolaannya dengan blok yang saat ini dimiliki Pertamina. 

Dua blok lain, yakni Blok East Kalimantan dan Attaka akan dilelang setelah Pertamina dan kontraktor eksisting menyatakan tidak berminat mengerjakannya.

Sementara untuk empat blok lainnya, Pertamina harus bersaing dengan kontraktor eksisting karena pemerintah menginginkan tawaran proposal rencana pengembangan yang terbaik. 

Keempat blok ini adalah Blok Tuban, Ogan Komering, South East Sumatera, dan Sanga-Sanga. Blok Ogan Komering saat ini dikelola Pertamina bersama Talisman, sementara Blok Tuban digarap Petrochina East Java bersama Pertamina. Kemudian, Blok South East Sumatera dikerjakan oleh CNOOC dan Blok Sanga-Sanga oleh Vico Indonesia.

“Hari Senin (22/1), kami sudah mengirim surat ke Kementerian ESDM terkait blok-blok tersebut,” kata Direktur Hulu Pertamina Syamsu Alam di Jakarta, Senin (22/1).

Sayangnya, Alam enggan mengungkapkan apa isi dari surat tersebut. Dia hanya menyebut surat ini terkait dengan pengelolaan blok-blok terminasi ke depannya. Selain itu surat tersebut tidak membahas soal bagian right to match yang ditawarkan ke perseroan. Alam juga tidak mau menyebutkan blok mana saja yang masih diminati Pertamina. 

“Tunggu saja nanti kalau sudah ada keputusan akhirnya,” ujarnya.

Sebelumnya, Sekretaris Jenderal merangkap Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Ego Syahrial menuturkan, pemerintah telah merampungkan evaluasi proposal rencana pengembangan dari kontraktor kontrak kerja sama (KKKS) eksisting. Hasilnya, proposal dari KKKS eksisting dinilai sedikit lebih baik dari Pertamina. 

“Pertamina lagi berpikir apa Pertamina mau right to match. Jadi ini posisinya menunggu Pertamina,” tuturnya.

Dikatakannya, pemerintah memberikan kesempatan bagi Pertamina untuk right to match atau menyamai tawaran kontraktor eksisting agar bisa memperoleh bagian pengelolaan blok terminasi. Hal ini untuk memastikan negara mendapat penawaran terbaik, sehingga pendapatan negara dari blok tersebut tidak berkurang.

Pihaknya menargetkan, kontrak baru blok terminasi ini bisa ditandatangani pada awal tahun ini. Hal ini mengingat, beberapa blok akan berakhir kontraknya pada Februari. Tepatnya Blok Tuban akan berakhir kontraknya pada 23 Februari 2018 dan Blok Ogan Komering pada 28 Februari 2018. 

Investor Daily, Page- 9, Tuesday, Jan 23, 2018

Pertamina Ready to Manage Four Blocks of Termination Time

PT Pertamina is responding to the government regarding the termination of oil and gas blocks. This SOE sent a letter to the Ministry of Energy and Mineral Resources (ESDM) related to the management plan of the blocs in the future. Upstream Director of Pertamina Syamsu Alam said the letter had just been handed over to the government.

Syamsu Alam

"Today we send a letter, just wait for the final decision," said Syamsu Alam.

He was reluctant to explain the details of the contents of the letter, but clearly, the letter not only contained readiness, but also Pertamina's plan to manage the termination blocks.

Just so you know, there are actually eight termination blocks that have been submitted to Pertamina. However, two blocks are being cultivated to the government of East Borneo Block and Attaka because the economic scale is not good. There are four blocks that are not automatically submitted to Pertamina.

But through the evaluation process because the government considers the existing contractor to continue its management, ie for the Tuban block, Ogan Komering Block, Sanga Sanga Block and South East Sumatra Block. Meanwhile, the other two blocks of North Sumatera Block Offshore and Central Block are directly handed over to Pertamina. The other four are still waiting for the government's decision whether to be handed over to Pertamina or not.

IN INDONESIA

Pertamina Siap Mengelola Sisa Empat Blok Terminasi

PT Pertamina merespons pemerintah terkait pengelolaan blok migas yang masuk masa terminasi. BUMN ini mengirimkan Surat kepada Kementerian Energi dan Sumber Daya Mineral (ESDM) terkait rencana pengelolaan blok-blok tersebut ke depan. Direktur Hulu Pertamina Syamsu Alam menyatakan, surat itu baru saja diserahkan pada pemerintah. 

"Hari ini kita mengirim Surat. Tunggu saja nanti kalau sudah ada keputusan finalnya," kata Syamsu Alam.

la enggan menjelaskan detail isi surat tersebut, tapi yang jelas, surat itu bukan saja berisi kesiapan, tapi juga rencana Pertamina dalam mengelola berbagai blok terminasi tersebut.

Asal tahu saja, sebenarnya ada delapan blok terminasi yang sudah sempat diserahkan ke Pertamina. Namun, dua blok dikemballkan ke pemerintah yakni Blok East Kalimantan dan Attaka karena skala ekonomi tidak bagus. Terdapat empat blok yang tidak secara otomatis diserahkan ke Pertamina. 

Tapi melalui proses evaluasi karena pemerintah mempertimbangkan kontraktor eksisting untuk melanjutkan pengelolaannya, yakni untuk blok Tuban, Blok Ogan Komering, Blok Sanga Sanga dan Blok South East Sumatera. Sementara dua blok lainnya Blok North Sumatera Offshore dan Blok Tengah diserahkan langsung ke Pertamina. Adapun empat lainnya masih menunggu keputusan pemerintah, apakah akan diserahkan ke Pertamina atau tidak.

Harian Bangsa, Page-4, Tuesday, Jan 23, 2018

Formation of Holding of Current Oil and Gas Enterprise

       After PGN acquired Pertagas, Pertamina Hulu Energy acquired Saka Energi Indonesia

Holding BUMN Migas only count the days. Precisely on January 25, 2018, PT Pertamina will become a holding state-owned oil and gas company with the entry of PT Perusahaan Gas Negara Tbk (PGN) as a subsidiary.

The latest news of the Annual General Meeting of Shareholders (AGM) of Pertamina is conducted before the Extraordinary General Meeting of Shareholders (EGM) of PGN. The agenda, in addition to discussing the amendment of the articles of association, will also be discussed on several other agendas. The AGMS of Pertamina will discuss approval of receipt of transfer of the series B shares of state in PGN.

It also discussed the approval of Pertamina's share acquisition in Pertagas by PGN. Meanwhile, the AGM will also discuss approval of Pertagas acquisition. However, the External Communication Manager of PT Pertamina Arya Dwi Paramita said there was no AGM held on Monday (22/1).

What is certain under the command of Pertamina, the issuer coded PGAS in Indonesia Stock Exchange will serve as a sub-holding and still has a business focus on the natural gas sector. And its role will be further expanded with the business of gas natural gas sales and management.

It also manages the Arun LNG plant, the West Java floating storage regasification unit (FSRU) and a number of gas businesses that have been directly managed by Pertamina or its subsidiaries. Deputy for Mining Business, Strategic Industries, and State-Owned Enterprises Ministry Fajar Harry Sampurno confirmed the plan regarding PGN to be a sub-holding will be realized.

"The plan is that in the midstream to the downstream plan of gas will be handled by PGN," he said.

Deputy of Energy, Logistics and Tourism Ministry of SOE, Edwin Hidayat Abdullah also said that after Pertagas was acquired by PGN, it was Saka Energi's turn to be taken over by PT Pertamina Hulu Energi. Hearing the scheme, Public Relations Manager of PT Pertamina Gas (Pertagas) Hatim Ilwan said, about Pertagas acquisition plan PGN is final or not, certainly in the hands of the government.

"We at Pertagas, in principle will follow all directions and orders from our shareholders, namely Pertamina (Persero)," Hatim said.

He said, in the plan Holding BUMN Migas, Pertagas has no special preparation. However, several coordination meetings between Pertamina and PGN, Pertagas were also involved. Danareksa Securities analyst Lucky Bayu Purnomo explained, basically, the acquisition of Pertagas by PGN had a positive impact for PGN. Because PGN will have additional portfolios and integrated portfolios in the same field.

Then, the prospect of PGN will be good enough for public shares. Companies that have capitalization in the form of assets referred to as the result of acquisitions will be weighted positively by capital market actors.

IN INDONESIA

Pembentukan Holding BUMN Migas Lancar

       Setelah PGN mengakuisisi Pertagas, giliran Pertamina Hulu Energi akuisisi Saka Energi Indonesia

Holding BUMN Migas hanya menghitung hari. Tepatnya 25 Januari 2018 nanti PT Pertamina akan menjadi holding BUMN Migas dengan masuknya PT Perusahaan Gas Negara Tbk (PGN) sebagai anak usaha.

Kabar terbaru Rapat Umum Pemegang Saham (RUPS) Pertamina dilakukan sebelum Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) PGN. Agendanya, selain membahas perubahan anggaran dasar, akan juga dibahas beberapa agenda lain. RUPS Pertamina akan membahas persetujuan penerimaan pengalihan saham seri B negara yang ada di PGN.

Sekaligus juga membahas persetujuan pengambilalihan saham Pertamina di Pertagas oleh PGN. Sementara RUPS PGN juga akan membahas persetujuan upaya akuisisi Pertagas. Namun, Manajer External Communication PT Pertamina Arya Dwi Paramita menyatakan tidak ada RUPS yang dilaksanakan Senin (22/1).

Yang pasti di bawah komando Pertamina, emiten berkode PGAS di Bursa Efek Indonesia itu akan berperan sebagai sub- holding dan tetap memiliki fokus bisnis pada sektor gas bumi. Dan peranannya akan lebih diperluas dengan bisnis pengelolaan dan penjualan gas bumi.

Termasuk juga mengelola kilang LNG Arun, floating storage regasification unit (FSRU) Jawa Barat dan sejumlah bisnis gas yang selama ini dikelola langsung Pertamina ataupun anak usahanya. Deputi Bidang Usaha Pertambangan, Industri Strategis, dan Media Kementerian BUMN Fajar Harry Sampurno membenarkan rencana soal PGN menjadi sub-holding akan terwujud. 

"Rencananya seperti itu. Dalam perencanaan memang midstream to downstream dari gas akan ditangani PGN," katanya.

Deputi Bidang Energi, Logistik, dan Pariwisata Kementerian BUMN, Edwin Hidayat Abdullah juga pernah bilang, setelah Pertagas diakuisisi PGN, giliran Saka Energi diambilalih oleh PT Pertamina Hulu Energi. Mendengar skema itu, Manajer Humas PT Pertamina Gas (Pertagas) Hatim Ilwan mengatakan, soal rencana PGN akuisisi Pertagas ini sudah final atau belum, tentu ada di tangan pemerintah.

"Kami di Pertagas, pada prinsipnya akan mengikuti segala arahan dan perintah dari pemegang saham kami, yakni Pertamina (Persero),“ kata Hatim.

Dia mengatakan, dalam rencana Holding BUMN Migas, Pertagas tidak memiliki persiapan khusus. Hanya saja, beberapa pertemuan koordinasi antara Pertamina dan PGN, Pertagas juga ikut dilibatkan. 

   Analis Danareksa Sekuritas Lucky Bayu Purnomo menjelaskan, pada dasarnya akuisisi Pertagas oleh PGN itu memberikan dampak positif bagi PGN. Sebab PGN akan memiliki portofolio tambahan dan portofolio yang terintegrasi dalam satu bidang yang sama.

Kemudian, prospek dari PGN tersebut akan cukup baik bagi saham publik. Perusahaan yang memiliki kapitalisasi dalam bentuk aset yang disebut sebagai hasil akuisisi akan di bobot positif oleh pelaku pasar modal.

Kontan, Page-14, Tuesday, Jan 23, 2018

PGN Will Handle Gas Sector in Oil and Gas Holding

Deputy of Mining Business, Strategic Industries, and Media of the Ministry of State-Owned Enterprises, Fajar Harry Sampurna said that one of the plans in oil and gas holding PGN will focus on managing and managing all gas business so far. Later, despite being a subsidiary of Pertamina, but PGN will take care of all the downstream of gas activities.

"The plan is in the midstream to downstream of gas will be handled PGN later," said Harry, Monday (22/1).

Harry explained with the holding, then PGN will change its status into a subsidiary of Pertamina. Under the command of Pertamina, PGN will serve as sub-holding and remain a business focus on the natural gas sector. Even its role will be further expanded with business management and sales of natural gas.

PGN's scope of work also includes managing the Arun LNG plant, FSRU East Java and a number of gas businesses that have been managed directly by Pertamina or its subsidiaries. So that all things related to natural gas affairs will be managed directly by PGN.

Meanwhile Pertamina will remain focused on the upstream and downstream sector of petroleum, while also overseeing PGN's performance. PGN is scheduled to hold a General Meeting of Shareholders (GMS) on January 25, 2018. Agenda of the Extraordinary General Meeting of Shareholders (EGMS) related to the amendment of the articles of association. Citing the openness of Indonesia Stock Exchange (IDX).

IN INDONESIA

PGN Akan Tangani Sektor Gas di Holding Migas

Deputi Bidang Usaha Pertambangan, Industri Strategis, dan Media Kementerian BUMN, Fajar Harry Sampurna mengatakan salah satu rencana dalam holding migas nantinya PGN akan fokus mengatur dan mengelola seluruh bisnis gas selama ini. Nantinya, walaupun menjadi anak usaha Pertamina, namun PGN yang akan mengurus semua downstream dari kegiatan gas. 

"Rencananya seperti itu. Dalam perencanaan memang midstream to downstream dari gas akan ditangani PGN nantinya," ujar Harry, Senin (22/1).

Harry menjelaskan dengan adanya holding, maka PGN akan berubah statusnya menjadi anak perusahaan Pertamina. Di bawah komando Pertamina, PGN akan berperan sebagai subholding dan tetap memiliki fokus bisnis pada sektor gas bumi. Bahkan peranannya akan lebih diperluas dengan bisnis pengelolaan dan penjualan gas bumi.

Lingkup kerja PGN juga termasuk mengelola kilang LNG Arun, FSRU Jawa Barat dan sejumlah bisnis gas yang selama ini dikelola langsung oleh Pertamina ataupun anak usahanya. Sehingga semua hal yang terkait dengan urusan gas bumi akan dikelola langsung oleh PGN. 

Sementara Pertamina akan tetap fokus sektor hulu dan hilir minyak bumi, sekaligus juga mengawasi kinerja PGN. PGN direncanakan akan melakukan Rapat Umum Pemegang Saham (RUPS) pada 25 Januari 2018 mendatang. Agenda Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) terkait perubahan anggaran dasar. Mengutip keterbukaan Bursa Efek Indonesia (BEI).

Harian Bangsa, Page-4, Tuesday, Jan 23, 2018

5 Winners Announced Late January 2018

The Ministry of Energy and Mineral Resources confirmed the results of an oil and gas block auction held since 2017 will be announced at the end of January 2018.

In addition, the management decision of four oil and gas blocks that are under contract by PT Pertamina will be decided in the near future. Pertamina, as a national oil and gas company, has the right to match to immediately take over the oil and gas working area that has been exhausted.

Archandra Tahar

Deputy Minister of Energy and Mineral Resources (ESDM) Archandra Tahar said the auction results of the oil and gas block will be announced earlier than the previous plan, ie at the end of January 2018. Previously, the Ministry of Energy and Mineral Resources auction results announced in early February 2018.

 "We are accelerating for the exploration process can also be faster for the 'winners of the auction," he said on Monday (22/1).

Archandra was reluctant to ensure the winners of the auction that there is only one enthusiast.

"Later the certainty, wait for the results out," he said.

In 2017, the ESDM Ministry offers 10 conventional oil and gas blocks and 5 unconventional oil and gas blocks. A total of five out of 10 conventional oil and gas blocks are attractive to investors while five non-conventional oil and gas blocks are still unattractive. The five oil and gas blocks are all part of seven oil and gas blocks with direct appointment schemes.

The five blocks consist of the Andaman I work area in demand by Mubadala Petroleum. The Andaman II working area attracted three investors, Repsol Exploracion SA, PT Energi Mega Persada Tbk, and Premier Oil Far East Ltd. consortium, Mubadala Petroleum. and Kris Energy.

Merak-Lampung working area is interested by PT Tansri Madjid Energi. Then, for the work area, Pekawai and West Yamdena respectively enthused by PT Saka Energy Indonesia. The company filed for auction documents last year.

Previously, the ESDM ministry noted that there were 20 tender documents for the auction of conventional oil and gas working areas being accessed with a total of 13 companies interested in the 10 conventional blocks. then, there is also one company that accesses two documents of unconventional oil and gas working area. However, all that is limited to access to the only documents that remain for five conventional blocks only.

DECREE OF PERTAMINA

In addition, the ESDM Ministry will also confirm Pertamina's decision to take the right to four termination blocks granted since the beginning of this year. Deputy Minister of EMR Arcandra Tahar said that Pertamina's privilege decision will be decided shortly.

"The result is whether Pertamina will take the right to match or will not be confirmed in the near future," he said.

The Ministry of Energy and Mineral Resources grants Pertamina privileges to manage four blocks to be terminated this year. The four blocks are Tuban Block, Southeast Sumatra Block, Ogan Komering Block and Sanga-Sanga Block. Meanwhile, the management of the Central Block is combined with the Mahakam Block and the Offshore North Sumatera Block (NSO) technically combined with North Sumatra B (NSB).

Ego Syahrial

Implementing the task of the Director General of Oil and Gas at the Ministry of Energy and Mineral Resources Ego Syahrial explained that Pertamina has been appointed to directly manage eight oil and gas blocks whose contract has expired (termination) this year. However, Pertamina requested six oil and gas blocks with two block management records combined so that the remaining four blocks.

IN INDONESIA

5 Pemenang Diumumkan Akhir Januari 2018  

Kementerian Energi dan Sumber Daya Mineral memastikan hasil lelang blok minyak dan gas bumi yang digelar sejak 2017 akan diumumkan pada akhir Januari 2018.

Selain itu, keputusan pengelolaan empat blok migas yang habis kontrak oleh PT Pertamina akan diputuskan dalam waktu dekat. Pertamina, sebagai perusahaan migas nasional, memiliki hak istimewa (right to match) untuk langsung mengambil alih wilayah kerja migas yang sudah habis.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, hasil lelang blok migas akan diumumkan lebih awal dari rencana sebelumnya, yakni pada akhir Januari 2018. Sebelumnya, Kementerian ESDM menargetkan hasil lelang diumumkan pada awal Februari 2018.

 "Kami percepat agar proses eksplorasinya juga bisa lebih cepat bagi para ‘pemenang lelang,” ujamya, Senin (22/1).

Arcandra pun enggan memastikan pemenang lelang yang hanya ada satu peminat. 

“Nanti saja kepastiannya, tunggu hasilnya keluar,” ujarnya.

Pada 2017, Kementerian ESDM menawarkan 10 blok migas konvensional dan 5 blok migas nonkonvensional. Sebanyak lima dari 10 blok migas konvensional diminati investor sedangkan lima blok migas nonkonvensional masih tidak diminati. Lima blok migas yang diminati itu semua bagian dari tujuh blok migas dengan skema penunjukkan langsung.

Kelima blok itu terdiri atas wilayah kerja Andaman I diminati oleh Mubadala Petroleum. Wilayah kerja Andaman II diminati tiga investor, yakni Repsol Exploracion SA, PT Energi Mega Persada Tbk., dan konsorsium Premier Oil Far East Ltd., Mubadala Petroleum. dan Kris Energi. 

Wilayah kerja Merak-Lampung diminati oleh PT Tansri Madjid Energi. Kemudian, untuk wilayah kerja Pekawai dan West Yamdena masing-masing diminati oleh PT Saka Energi Indonesia. Perusahaan itu memasukkan dokumen lelang menjelang tutup tahun lalu. 

Sebelumnya, kementerian ESDM mencatat ada 20 dokumen penawaran lelang wilayah kerja migas konvensioal telah diakses dengan total 13 perusahaan yang meminati 10 blok konvensional tersebut. lalu, ada pula satu perusahaan yang mengakses dua dokumen wilayah kerja migas nonkonvensional. Namun, semua itu baru sebatas melakukan akses hingga yang memasukkan dokumen tersisa untuk lima blok konvensional saja.

KEPUTUSAN PERTAMINA

Selain itu, Kementerian ESDM juga akan memastikan keputusan Pertamina untuk mengambil hak terhadap empat blok terminasi yang diberikan sejak awal tahun ini. Wakil Menteri ESDM Arcandra Tahar mengatakan bahwa keputusan hak istimewa Pertamina akan diputuskan sebentar lagi.

“Hasilnya apakah Pertamina akan mengambil right to match atau tidak akan dipastikan dalam waktu dekat,” ujarnya.

Kementerian ESDM memberikan hak istimewa kepada Pertamina untuk mengelola empat blok yang akan terminasi tahun ini. Keempat blok itu antara lain Blok Tuban, Blok Southeast Sumatera, Blok Ogan Komering, dan Blok Sanga-sanga. Sementara itu, pengelolaan Blok Tengah digabung dengan Blok Mahakam dan Blok North Sumatera Offshore (NSO) teknisnya digabung degan North Sumatera B (NSB).

Pelaksana tugas Dirjen Migas Kementerian ESDM Ego Syahrial menjelaskan, Pertamina sudah ditunjuk untuk langsung mengelola delapan blok migas yang kontraknya sudah habis (terminasi) pada tahun ini. Namun, Pertamina meminta enam blok migas dengan catatan pengelolaan dua blok digabung sehingga yang tersisa empat blok. 

Bisnis Indonesia, Page-30, Tuesday, Jan 23, 2018

Pertamina's Profit Down

The net profit of PT Pertamina during 2017 was eroded as the government chose to maintain public purchasing power by not raising Premium and diesel prices.

Pertamina's profit in 2017 reached around Rp 27 trillion. As for, until the third quarter / 2017, the profit of this state-owned company reached US $ 1.99 billion.

"The increase in world oil prices has become one of the main causes of Pertamina's decline in profit because there is no adjustment of fuel price [fuel]," he said.

He said that although world oil prices continued to move from the level of US $ 40 per barrel since mid-2017 to reach US $ 60 per barrel in early 2018, the government did not adjust the price of Premium and diesel fuel.

The Premium and diesel prices set by the government throughout 2017 amounted to Rp 6,550 and Rp 5,100 per liter, respectively, assuming that the Indonesian crude oil price (ICP) is at US $ 48 per barrel.

On the other hand, Pertamina has tasted the positive impact of low world oil prices with a profit surge of more than twice as much as US $ 3.15 billion in 2016 compared to the previous year of US $ 1.45 billion.

When Bisnis confirmed this, Pertamina Finance Director Arief Budiman declined to comment, He is still reluctant to explain the company's net profit factor.

"Later, wait for the official exposure," he said on Monday (22/1).

Komaidi Notonegoro, ReforMiner Energy Observer, said that the decline in Pertamina's net profit over the past year could be due to a one-price fuel policy and a government unwilling to raise diesel and Premium prices.

According to Komaidi, when the global crude oil price trends are rising, global oil and gas companies should be able to gain more profit.

"I think Pertamina's upstream business needs to register an increase, but it has to sacrifice its downstream business for the sake of society," he said.

On the other hand, Pertamina is preparing a plan to release PT Pertamina Gas to PT Perusahaan Gas Negara (Persero) Tbk. as part of a plan for holding state-owned oil and gas companies. Pertamina Gas Corporate Secretary (Pertagas) Arif Widodo said it was ready with the acquisition plan by Perusahaan Gas Negara (PGN).

"We also focus on joint operation arrangements so that the interests of consumers are not disturbed during the acquisition process," he said.

The Ministry of State-Owned Enterprise (BUMN) projected the formation of BUMN holding of oil and gas can create total asset value of Rp 941 Trillion. The amount is derived from the merger of assets of Pertamina, PGN assets, operational synergies and capital expenditure and investment capacity for 15 years.

IN INDONESIA

Laba Pertamina Turun

Laba bersih PT Pertamina sepanjang 2017 tergerus karena pemerintah memilih untuk menjaga daya beli masyarakat dengan tidak menaikkan harga Premium dan solar.

Laba Pertamina pada 2017 mencapai sekitar Rp 27 triliun. Adapun, sampai dengan kuartal III/2017, laba perusahaan milik pemerintah ini mencapai US$ 1,99 miliar.

“Kenaikan harga minyak dunia menjadi salah satu penyebab utama penurunan laba Pertamina karena tidak ada penyesuaian harga BBM [bahan bakar minyak],” katanya.

Dia mengatakan, kendati harga minyak dunia terus bergerak naik dari level US$ 40 per barel sejak pertengahan 2017 hingga mencapai US$ 60 per barel pada awal 2018, pemerintah tidak melakukan penyesuaian harga Premium dan solar.

Adapun harga Premium dan solar yang ditetapkan pemerintah sepanjang 2017 masing-masing Rp 6.550 dan Rp 5.100 per liter dengan asumsi harga minyak mentah Indonesia (ICP) US$ 48 per barel.

Di sisi lain, Pertamina telah mengecap dampak positif harga minyak dunia yang rendah dengan lonjakan laba lebih dari dua kali banyaknya menjadi US$ 3,15 miliar pada 2016 dibandingkan dengan tahun sebelumnya US$ 1,45 miliar.

Ketika Bisnis mengonfirmasi hal tersebut, Direktur Keuangan Pertamina Arief Budiman menolak memberikan komentar, Dia juga masih enggan memaparkan faktor penurunan laba bersih perseroan.

“Nanti, tunggu paparan resminya saja," ujarnya, Senin (22/1).

Komaidi Notonegoro, Pengamat Energi ReforMiner, mengatakan bahwa penurunan laba bersih Pertamina sepanjang tahun lalu bisa disebabkan oleh kebijakan BBM satu harga dan pemerintah yang enggan menaikkan harga solar dan Premium.

Menurut Komaidi, di saat tren harga minyak mentah dunia yang meningkat, perusahaan migas secara global seharusnya bisa mendapatkan keuntungan yang lebih banyak.

“Saya pikir seharusnya dari segi bisnis hulunya Pertamina mencatatkan kenaikan, tetapi memang harus berkorban pada bisnis hilirnya demi masyarakat,” ujarnya.

Di sisi lain, Pertamina sedang menyusun rencana pelepasan PT Pertamina Gas kepada PT Perusahaan Gas Negara (Persero) Tbk. sebagai bagian dari rencana pembentukan holding BUMN minyak dan gas. Sekretaris Korporasi Pertamina Gas (Pertagas) Arif Widodo mengatakan, pihaknya sudah siap dengan rencana akuisisi oleh Perusahaan Gas Negara (PGN).

"Kami pun juga fokus untuk melakukan pengaturan operasi bersama agar kepentingan konsumen tidak terganggu selama proses akuisisi tersebut,” ujarya.

Kementerian BUMN memproyeksikan pembentukan holding BUMN migas dapat menciptakan total nilai aset mencapai Rp 941 Triliun. Jumlah itu berasal dari penggabungan aset Pertamina, aset PGN, sinergi operasional dan belanja modal serta kapasitas investasi selama 15 tahun.

Bisnis Indonesia, Page-1, Tuesday, Jan 23, 2018

Pertamina hits pay dirt in Algeria

Energy giant Pertamina is set to expand its presence in Algeria following a generous deal with a local firm that will pave the way for the state-owned company to operate a new oil and gas block without any acquisition costs.

The deal was made in December as Pertamina amended a memorandum of understanding (MoU) that was originally signed with Algerian state energy firm Sonatrach in September 2016.

Through the amended MoU, Pertamina claimed it would be able to jointly develop with Sonatrach a new oil asset in Algeria with total reserves of 100 million barrels of oil and an estimated production rate of 20,000 to 30,000 barrels of oil per day (bopd).

“This is a government-to-government deal. [...] We will get some participating interest in a block without any acquisition costs,” Pertamina upstream director Syamsu Alam said on Thursday, without disclosing the name of the block.

“Later, all of our disbursed costs will be accounted for as investments.”

Syamsu Alam

Syamsu said Sonatrach had drilled 30 development wells at the block but had yet to start the production process there. He also said as the block was located near Pertamina’s existing assets in Algeria, the company would be able to use shared facilities once the deal is done.

At present, Pertamina, through subsidiary Pertamina Internasional EP (PIEP), has participating interest at three oil and gas fields in Algeria, namely at the MLN field with 65 percent interest, the EMK field with 16.9 percent and the OHD field with 3.73 percent.

       Pertamina and Sonatrach are expected to soon finalize their deal and settle commercial terms before submitting a plan of development (POD) to the Algerian oil and gas authority.

Pertamina. is also looking to buy liquefied petroleum gas (LPG) from Sonatrach, though no further details are currently available. Meanwhile, Pertamina sent a proposal to Iranian government-owned National Iranian Oil Company (NIOC) in February 2017 to develop two oil and gas fields in Iran, namely the Ab-Teymour and Mansouri fields.

The two fields are estimated to have 1.5 billion barrels of reserves each and expected to produce 200,000 bopd each. Pertamina aims to increase its overall overseas oil production by 3.8 percent year-on-year to 108,000 bopd this year, while gas production is projected to fall by 3.27 percent to 266 million standard cubic feet per day (mmscfd).

In the long run, Pertamina aims to jack up its total oil and gas production to 1.9 million barrels of oil equivalent per day (boepd) by 2025, 34.2 percent of which will come from its over-seas fields.

Pertamina’s decision to be more aggressive in overseas territories has come in the wake of a decline in national oil production. Indonesia’s oil production has dwindled to around 800,000 bopd at present from around 1.2 million bopd in the early years of the 21S‘ century. As production has been falling, the country has been forced to import around 60 percent of its current oil needs of 1.6 million bopd.

BMI Research, a unit of Fitch Group, projected Indonesia’s crude oil and natural gas production will decline at an average annual rate of 1.7 percent and 4 percent, respectively, over the 2017-2021 period.

“Indonesia’s crude oil and natural gas production is set to see firm declines [...] amid slowing investment into new projects to counter natural declines at mature assets,” BMI Research says in a report published in August 2017.

“Moreover, although We believe oil prices will improve over the coming years, the gradual pace of the rebound, particularly over the next two years, will continue to drag on firms’ appetite for costly output maintenance works at aging fields.”

The price of global benchmark Brent crude reached last year’s peak of US$67.02 per barrel on Dec. 26 after falling to $ 44182 on June 21. The price hovered at around $68 on Friday. Pertamina has allocated $ 5.6 billion in capital expenditure this year, up from $4 billion in 2017. 

About 60 percent of the allocated figure will be used to support the company’s upstream business activities, including the acquisition of overseas blocks.

the Jakarta Post, Page-13, Monday, Jan 22, 2018

Pertamina Optimizes Blocks Overseas

PT Pertamina targets oil and gas production and overseas work areas abroad this year at 108,000 barrels of oil equivalent per day.

This government-owned company will also optimize existing oil fields overseas to pursue the target.

Syamsu Alam

Upstream Director of Pertamina Syamsu Alam said that the company's overseas oil and gas production growth is targeted to increase. Over the past year, the increase in oil and gas production has been driven by oil and gas blocks in Gabon and Iraq.

"This year, we can pursue the production of 108,000 barrels of oil equivalent per day with the optimization of available overseas blocks," he said, Friday (19/1).

Pertamina oil field production target is not too aggressive when compared with last year. The company only targets a 3.84 percent increase compared to last year's 104,000 barrel of oil equivalent per day (boepd).

In 2017, the company actually recorded a significant increase in oil and gas production overseas, 18% to 18.18% compared to the previous year. Oil and gas production abroad is higher than the previously set target of 92,000 barrels of oil equivalent per day.

In detail, Pertamina's gas production from overseas oil and gas fields in 2017 recorded a substantial increase of 26.14% to 275 million cubic feet per day (MMscfd) compared to the previous year. In addition, Pertamina is exploring to acquire new oil and gas blocks in Algeria this year.

Syamsu said that the company did not use the acquisition scheme in obtaining oil and gas blocks in Algeria. The costs incurred by Pertamina were directly for investment, not for acquisition.

"We went there with the spirit of G to G [government to government / inter-governmental cooperation]. We are still waiting to be able to share how many shares there, "he said.

Archandra Tahar

Related to the plan, Deputy Minister of Energy and Mineral Resources (ESDM) Archandra Tahar admitted that it is still waiting for the official report from Pertamina.

"I have not got the official report yet," he said.

Oil and gas blocks in Algeria to be worked on by Pertamina with Sonatrach, Algeria oil and gas company, there are 30 wells that have not been produced. Syamsu added that his company could not estimate the time the company could enter the new block in Algeria.

"How fast can get in there, it all depends on the results of the assessment," he said.

Therefore, he did not include the potential of the new oil and gas block in Algeria into the company's oil and gas production target abroad this year.

East Natuna Block

EAST NATUNA

Meanwhile, Pertamina has got a partner candidate to work on East Natuna Block. The potential partner has officially filed for being a partner company in managing East Natuna. However, the company's identity was not PetroChina International Company, who had expressed interest in becoming a partner of the government-owned company in the block.

Syamsu Alam said that the consortium of East Natuna Block is now disbanded. the company was looking for a company who are interested in partnering in managing the block.

"There is already an official interest, we hope to have more than one partner if we see the difficulty of managing the block."

Previously, Pertamina with ExxonMobil and PTT EP Thailand became a consortium to manage East Natuna Block. However, ExxonMobil & PTT EP decided to leave in the middle of last year.

IN INDONESIA

Pertamina Optimalkan Blok di Luar Negeri

PT Pertamina menargetkan produksi minyak dan gas bumi dan wilayah kerja perushaan yang berada di luar negeri pada tahun ini sebesar 108.000 barel setara minyak per hari.

Perusahaan milik pemerintah ini pun akan mengoptimalisasi lapangan minyak yang sudah ada di luar negeri untuk mengejar

target tersebut. 

Direktur Hulu Pertamina Syamsu Alam mengatakan, pertumbuhan produksi minyak dan gas bumi perusahaan di luar

negeri ditargetkan terus meningkat. Sepanjang tahun lalu, kenaikan produksi migas perusahaan didorong oleh blok migas di Gabon dan Irak.

“Pada tahun ini, kami kejar bisa produksi 108.000 barel ekuivalen [minyak] per hari dengan optimalisasi blok di luar negeri yang tersedia,” ujarnya, Jumat (19/1).

Target produksi lapangan minyak Pertamina itu tidak terlalu agresif bila dibandingkan dengan tahun lalu. Pasalnya, perusahaan hanya menargetkan kenaikan 3,84% dibandingkan realisasi sepanjang tahu lalu yang sebesar 104.000 barel setara minyak per hari (barrel of oil equivalent per day/boepd).

Pada 2017, perusahaan justru mencatatkan kenaikan produksi migas di luar negeri yang signifikan, yaini 18,18% dibandingkan dengan tahun sebelumnya. Produksi migas di luar negeri perusahaan pun lebih tinggi dari target yang ditetapkan sebelumnya sebesar 92.000 barel setara minyak per hari.

Secara rinci, produksi gas bumi Pertamina yang berasal dari lapangan migas di luar negeri pada 2017 mencatatkan kenaikan cukup tinggi, yaitu sebesar 26,14% menjadi 275 juta kaki kubik per hari (MMscfd) dibandingkan dengan tahun sebelumnya. Selain itu, Pertamina sedang melakukan penjajakan untuk mendapatkan blok migas baru di Aljazair pada tahun ini.

Syamsu menuturkan, perusahaan tidak menggunakan skema akuisisi dalam mendapatkan blok migas di Aljazair Biaya yang dikeluarkan oleh Pertamina pun langsung untuk investasi, bukan untuk akuisisi. 

“Kami masuk ke sana dengan semangat G to G [goverment to goverment/kerja sama antar pemerintah]. Kami pun masih menunggu nanti akan dapat bagian saham berapa banyak di sana ,” tuturnya.

Terkait dengan rencana itu, Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengaku bahwa pihaknya masih menunggu laporan resmi dari Pertamina. 

“Saya belum mendapatkan laporan resminya,” ujarnya.

Blok migas di Aljazair yang akan digarap Pertamina bersama Sonatrach, perusahaan migas Aljazair, sudah terdapat 30 sumur yang belum produksi. Syamsu menambahkan, pihaknya tidak bisa memperkirakan waktu perusahaan bisa masuk ke blok baru di Aljazair tersebut. 

“Seberapa cepat bisa masuk ke sana, semua tergantung kepada hasil dari penjajakan,” tuturnya.

Untuk itu, dia tidak memasukkan potensi garapan blok migas barn di Aljazair itu ke dalam target produksi migas perusahaan di luar negeri pada tahun ini. 

EAST NATUNA

Sementara itu, Pertamina sudah mendapatkan calon mitra untuk menggarap Blok East Natuna. Calon mitra itu telah mengajukan secara resmi untuk menjadi mitra perusahaan dalam mengelola East Natuna. Namun, identitas perusahaan itu bukan Petrochina Intemasional Companies, yang sempat mengutarakan ketertarikan menjadi mitra perusahaan milik pemerintah itu di blok tersebut.

Syamsu Alam mengatakan, konsonsium Blok East Natuna saat ini sudah bubar. perusahaan pun tengah mencari perusahaan yang berminat untuk bermitra dalam mengelola blok tersebut. 

“Sudah ada yang berminat secara resmi, kami berharap bisa lebih dari satu mitra kalau melihat tingkat kesulitan mengelola blok tersebut.“

Sebelumnya, Pertamina bersama ExxonMobil dan PTT EP Thailand menjadi satu konsorsium untuk mengelola Blok East Natuna. Namun, ExxonMobil & PTT EP memutuskan untuk keluar pada pertengahan tahun lalu.

Bisnis Indonesia,Page-30, Monday, Jan 22, 2018