Citizens May Reject, The reason must be Logical

Tuban Refinery

   
    Oil Company from Russian Country Rosneft Oil Company does not want safety Tuban refinery equated with Cilacap Refinery, Balikpapan, and Oil and Gas Company in Cepu, therefore the procurement or purchase of land in Mentoso and Ramen Village, Jenu Subdistrict, Tuban Regency, is a request of Pertamina partners in Tuban Refinery.

 

 Rosneft Oil Company- Russia

"Rosneft wants the safety of the plant is guaranteed," said Head of East Java Provincial Government and Autonomy Bureau, Anom Surahno.

    Anom asserted, Tuban refinery actually already has a location on the east of Pertamina Petrochemical Indotama Refinery (TPPI) owned by Pertamina of 64.9 hectares.

    Since Pertamina's partners demanded that, finally the purchase of land of local residents. Although the purchase of land affects hundreds of heads of households (KK), Anom ensures that the folk pier to the west of the Tanjung Awar-awar Steam Power Plant (PLTU) is maintained. If it is forced to be evicted, East Java Provincial Government requested to be replaced around the location.

"The dock must exist because it is the identity of the people and has historical value," said this bespectacled man.

    There are still residents who are reluctant to release the land, considered Anom as a natural thing. In a democratic country like Indonesia, the team of land acquisition of Tuban refinery will prioritize dialogue. If the first national strategic project should start early, it should now dialogue with the refinery-affected residents.

    There are processes and mechanisms undertaken by the team, starting with the argumentation, forward planning, and asking for security for the sacrificial landowners.

"Do not let them become spectators," he said.

    Post socialization of land acquisition to Remen villagers, next there will be public consultation. That's when there is a dialogue and people are approached by the team and asked whether the correct area is the location of refinery. If it's true how many.

"Citizens may disagree, but must include a logical reason," 'he added.

    East Java Provincial Government does not target when completion of land acquisition. Currently, the socialization process, and late because it should be completed by the end of 2017. Reaffirmed, to be noticed by all parties of Indonesia Fuel Oil stock [BBM] only 10 days. If it had been the 11th day would worry and we are still importing oil. The existence of Tuban refinery will extend the stock of fuel for up to three months.

"We can also reduce imports," he explained.

IN INDONESIA

Warga Boleh Menolak, Alasannya harus Logis

    Perusahaan Minyak berasal dari Negara Rusia Rosneft Oil Company tidak ingin safety Kilang Tuban disamakan dengan Kilang Cilacap, Balikpapan, maupun Perusahaan Migas di Cepu, oleh karena itu pengadaan atau pembelian lahan di Desa Mentoso dan Ramen, Kecamatan Jenu, KabupatenTuban, merupakan permintaan mitra Pertamina di Kilang Tuban.

“Rosneft ingin safety Kilang terjamin,” ujar Kepala Biro Pemerintahan dan Otonomi Daerah Pemerintah Provinsi Jawa Timur, Anom Surahno.

    Anom menegaskan, Kilang Tuban sebenarnya sudah memiliki lokasi di sebelah Timur Kilang Trans Pasific Petrochemical Indotama (TPPI) milik Pertamina seluas 64,9 hektare.

    Berhubung mitra Pertamina meminta demikian, akhirnya diadakannya pembelian lahan warga setempat. Meskipun pembelian lahan berdampak pada ratusan Kepala Keluarga (KK), tapi Anom memastikan dermaga rakyat di sebelah Barat Pembangkit Listrik Tenaga Uap (PLTU) Tanjung Awar-awar tetap dipertahankan. Kalau memang terpaksa digusur, Pemerintah Provinsi Jawa Timur meminta diganti sekitar lokasi.

“Dermaga harus ada karena itu merupakan identitas rakyat dan memiliki nilai historis,” kata pria berkacamata ini.

    Masih adanya warga yang enggan melepas lahannya dianggap Anom sebagai hal yang wajar. Di negara demokrasi seperti Indonesia, tim pembelian lahan Kilang Tuban  akan mengedepankan dialog. Jika dulu proyek strategis nasional harus dimulai lebih awal, sekarang harus berdialog dengan warga terdampak kilang.

    Ada proses dan mekanisme yang dilakukan oleh tim, mulai pemaparan argumentasi, rencana ke depan, dan minta jaminan bagi pemilik lahan yang telah berkorban.

“Jangan sampai mereka jadi penonton,” tegasnya.

    Pasca sosialisasi pembebasan lahan ke warga desa Remen, berikutnya akan ada konsultasi publik. Disaat itulah ada dialog dan warga didatangi tim dan ditanya apakah benar wilayah yang bersangkutan menjadi lokasi kilang. Kalau benar luasannya berapa.

“Warga boleh tidak setuju, tapi harus menyertakan alasan yang logis,”‘tambahnya.

    Pemerintah Provinsi Jawa Timur tidak menarget kapan selesainya pembelian lahan. Saat ini sedang proses sosialisasi, dan terlambat karena seharusnya selsai akhir 2017. Ditegaskan kembali, yang perlu diperhatikan oleh semua pihak Indonesia stok Bahan Bakar Minyak [BBM] hanya 10 hari.  Kalau sudah hari ke-11 pasti khawatir dan kita masih impor minyak. Adanya Kilang Tuban nantinya akan memperpanjang stok BBM sampai tiga bulan.

“Kita juga bisa mengurangi impor,” jelasnya.

 Bhirawa, Page-5, Tuesday, Feb 6, 2018

Pertamina set to grow bigger than ever

    If everything goes as planned, state-owned energy giant Pertamina is set to control about half of national oil and gas production, as well as nearly all of the country’s downstream gas pipelines by the end of 2018, partly owing to the governments role in transforming the company into a holding firm.

    The transformation will take place once the government has transferred its 57 percent shares in state-owned gas firm Perusahaan Gas Negara (PGN) to Pertamina, a move that is expected to boost the latter’s value, debt leverage and efficiency.

    The process should take place following the issuance ofa Government Regulation (PP/GR) that would serve as the legal basis for the holding firm formation, said Fajar Harry Sampurno, the State-Owned Enterprise (SOE) Ministry’s under secretary for mining, strategic industries and media affairs.

“The draft regulation was submitted to President Joko Widodo on Jan. 31. We hope the draft is signed by the President Within the next one week or two weeks at the most,” he told The Jakarta Post.

“After that, Pertamina will immediately hold an extraordinary general shareholders meeting and conclude its transformation.”

    Under the restructuring plan, the operation of PGN’s upstream subsidiary, Saka Energi Indonesia, would later be consolidated with Pertamina’s upstream subsidiaries such as Pertamina Hulu Energi and Pertamina EP As of September 2017, the combined domestic oil production of Pertamina and PGN stood at 276,800 barrels of oil per day (bopd), while their total gas production reached 1,740 million standard cubic feet per day (mmscfd).

   

    The figures accounted for around 35 percent and 27 percent, respectively, of Indonesia’s ready-to-sell production, or also known as lifting. In the same period, Pertamina also booked overseas oil and gas production of 104,000 bopd and 291 mmscfd, respectively It must be noted that the domestic output figures had yet to take into account production from the Mahakam block in East Kalimantan, which was acquired by Pertamina at the beginning of this year from France’s Total E&P lndonesie and Japan’s Inpex.

France’s Total E&P

    Mahakam generated 52,000 bopd and 1,255 mmscfd of gas throughout 2017, respectively accounting for 6 percent and 20 percent of Indonesia’s oil and gas lifting that year.

 Japan’s Inpex Corporation

    As mandated by the government, Pertamina has also stated its readiness to take over eight oil and gas blocks, the contracts of which with their existing operators will expire this year. The blocks are: Tuban, Ogan Komering, Sanga-sanga, Offshore Southeast Sumatra, North Sumatra Offshore, Tengah, East Kalimantan and Attaka.

   

 Oil and Gas Block

    As of 2016, total oil and gas production from those eight blocks stood at 47,245 bopd and 452 mmscfd, respectively, accounting for 5.75 percent and 6.8 percent of national lifting figures that year. However, as Pertamina has participating interest and production splits in some of those blocks, its potential extra production after the takeover will only reach around 43,812 bopd and 375.9 mmscfd.

“We will team up with strategic partners that have investment capacity to help finance our upstream expansion,” said Gigih Prakoso, Pertamina’s investment planning and risk management director.

    Consolidation with PGN will also pave the way for Pertamina to strengthen its grip in the management of downstream gas in-frastructure. As of last year, PGN operated gas transmission and distribution pipelines spanning 7,435 kilometers, or 76 percent ofthe country’s overall downstream gas pipelines. Meanwhile, Pertamina, through its subsidiary Pertamina Gas (Pertagas), operated 2,085-kilometer transmission pipelines.

    In its report published on Jan. 31, global energy think tank Wood Mackenzie lauded the Pertamina-PGN consolidation, particularly given their complementary gas businesses.

    The group said Pertamina could leverage the PGN’s wide customer base to extend its reach and marketing, especially in finding customers for its liquefied natural gas (LNG) cargoes. The merger is also expected to provide a head start for the government’s domestic price reforms, the report said.

“The government is seeking to implement a price pooling mechanism, whereby it will blend prices from diverse supply sources. This will help soften price Huctuations to customers and also accommodate the rising use of higher priced LNG,” Wood Mackenzie said.

“Without the merger, this policy cannot be fully implemented.

the Jakarta Post, Page-13, Monday, Feb 5, 2018

Exceed Target, Pertagas Profit US $ 141 million

    Pertagas did not include contributions from two subsidiaries, PT Perta Arun Gas and PT Perta Samtan, Gas, in the calculation of earnings this year.

    Government policy to lower industrial gas tariff does not make PT Pertamina Gas decrease profit. Pertamina's subsidiary even recorded 2017 profit of US $ 141 million (Rp 1.87 trillion) or exceeded the company's target of US $ 125 million.

"We can get through 2017 well even though last year there were government instructions for Pertagas to lower the toll fee for gas industry consumers of fertilizers, steel and petrochemicals," said Pertagas President Director Suko Hartono in Bogor, West Java.

    The tariff reduction policy set forth in Regulation of Minister of Energy and Mineral Resources Number 58 Year 2017 concerning gas price to end user is to increase national industry competitiveness and strengthen food and energy resilience. Through the regulation, the margin of gas delivery companies is limited to a maximum of 7% of the upstream gas production price, while the gas distribution costs are a maximum of 11% of the investment return rate (IRR).

    If calculated from the Ministerial Regulation in force in May 2017, according to Suko, the gas transporter company lost an average of US $ 100 thousand or US $ 13 million to US $ 14 million (about Rp186 billion) last year.

    This year Pertagas projected net profit of US $ 116 million. The target is below the realization of 2017 net income as it is in line with Pertagas and PGN merger plans. The Company did not include contributions from two subsidiaries, PT Perta Arun Gas and PT Perta Samtan Gas.

    Perta Arun and Perta Samtan are two of Pertagas's four subsidiaries. The other two subsidiaries are PT Pertagas Niaga and PT Perta Daya Gas. Perta Arun and Perta Samtan recorded the largest contribution to Pertagas net profit. After PGN becomes part of Pertamina, the next step is to synergize Pertagas with PGN.

"The holding concept is the ideal form now for PGN and Pertagas which have similar business sectors as holding will create efficiency," said Suko Hartono.

Gas prices are the same

    On a separate occasion, the Indonesian Chamber of Commerce and Industry (Kadin) fully supports the creation of oil and gas holding.

"Even the establishment is urgent and can not be postponed anymore," said Deputy Chairman of Standing Committee of Indonesian Chamber of Commerce and Industry of Upstream and Petrochemical Achmad Widjaya.

    The establishment of oil and gas holding will be very positive because with one regulation in the holding, efficiency can be increased and gas prices will be reduced so that it becomes cheaper.

"Once the start of oil and gas holding, everything will be beautiful because there is no competition among the SOEs. They will all focus, so gas is well maintained. Similarly, fuel oil [fuel], including diesel for industry will also be better, "he said.

    Because of that regulation, gas prices will also be the same. However, Pertamina must make sure that PGN and Pertagas are also merged into one. With the merger there will be no overlapping infrastructure

"One door is the key. We are now just waiting for the President to realize, "he said.

IN INDONESIA

Lampaui Target, Laba Pertagas US$ 141 juta

    Pertagas tidak memasukkan kontribusi dari dua anak usaha, yakni PT Perta Arun Gas dan PT Perta Samtan, Gas, dalam perhitungan laba tahun ini.

    Kebijakan pemerintah menurunkan tarif gas industri tidak membuat PT Pertamina Gas mengalami penurunan laba. Anak perusahaan Pertamina itu malah mencatat Iaba 2017 sebesar US$ 141 juta (Rp1,87 triliun) atau melebihi target perusahaan sebesar US$ 125 juta.

“Kami bisa melewati 2017 dengan baik walaupun tahun lalu ada instruksi pemerintah agar Pertagas menurunkan biaya distribusi (toll fee) untuk konsumen gas industri pupuk, baja, dan petrokimia,” kata Direktur Utama Pertagas Suko Hartono di Bogor, Jawa Barat.

    Kebijakan penurunan tarif yang tertuang dalam Peraturan Menteri ESDM Nomor 58 Tahun 2017 mengenai harga gas hingga ke end user tersebut untuk meningkatkan daya saing industri nasional dan memperkuat ketahan pangan dan energi. Melalui regulasi tersebut, margin perusahaan pengantar gas dibatasi maksimal 7% dari harga produksi gas di hulu, sedangkan biaya distribusi gas maksimal 11% dari investment return rate (IRR).

    Jika dihitung dari Peraturan Menteri tersebut berlaku Mei 2017, menurut Suko, perusahaan transporter gas itu rata-rata kehilangan pendapatan US$ 100 ribu atau mencapai US$ 13 juta hingga US$ 14 juta (sekitar Rp186 miliar) tahun lalu.

    Pada tahun ini Pertagas memproyeksikan laba bersih sebesar US$ 116 juta. Target itu di bawah realisasi laba bersih 2017 karena sejalan dengan rencana penggabungan Pertagas dan PGN. Perusahaan tidak memasukkan lagi kontribusi dari dua anak usaha, yakni PT Perta Arun Gas dan PT Perta Samtan Gas.

    Perta Arun dan Perta Samtan merupakan dua dari empat anak usaha Pertagas. Dua anak usaha lainnya ialah PT Pertagas Niaga dan PT Perta Daya Gas. Perta Arun dan Perta Samtan tercatat memberikan kontribusi terbesar bagi laba bersih Pertagas. Setelah PGN menjadi bagian dari Pertamina, tahap berikutnya ialah menyinergikan Pertagas dengan PGN.

“Konsep holding merupakan bentuk ideal saat ini untuk PGN dan Pertagas yang mempunyai sektor usaha yang sejenis karena holding akan menciptakan efisiensi,” kata Suko Hartono.

Harga gas sama

    Dalam kesempatan terpisah, Kamar Dagang dan Industri (Kadin) Indonesia mendukung penuh pembentukan holding migas.
“Bahkan pembentukannya sudah mendesak dan tidak bisa ditunda lagi,” kata Wakil Ketua Komite Tetap Kadin Indonesia Bidang Industri Hulu dan Petrokimia Achmad Widjaya.

    Pembentukan holding migas akan sangat positif karena dengan satu reguIasi dalam holding, efisiensi bisa ditingkatkan dan harga gas akan bisa ditekan sehingga menjadi lebih murah.

“Begitu memulai holding migas, semua akan menjadi indah karena tidak ada persaingan di antara sesama BUMN. Mereka semua akan fokus, sehingga gas terpelihara dengan baik. Begitu pula dengan bahan bakam minyak [BBM], termasuk solar untuk industri juga akan lebih baik,” ujarnya.

    Karena satu regulasi itulah, harga gas juga akan menjadi sama. Namun, Pertamina memang harus memastikan bahwa PGN dan Pertagas juga digabung menjadi satu. Dengan penggabungan itu tidak akan ada lagi infrastruktur yang over lapping.

“Satu pintu itu kuncinya. Kita sekarang hanya menunggu Presiden untuk merealisasikan,” ujarnya.

Media Indonesia, Page-19, Monday, Feb 5, 2018

PDSI Optimize Operation of Cyber ​​Rig

    PT Pertamina Drilling Service Indonesia (PDSI) is currently working on one of the Jatiasri-9 (Jas-9) fields owned by PT Pertamina EP by operating one of the Cyber-55 Rigs.

    Cyber ​​rigs are rigs that are operated and controlled accurately with computer systems. The 1500 HP (Horse Power) Rig Cyber-55 with # RIG PDSI # 31.3 / D1500-E code is operated in the Jas-9 field since December 30, 2017.
    

 Cyber ​​rigs

   According to PDSI Java Project Manager - Eastern Indonesia (KTI/EI), Komedy, the rig is one of the 10 cyber rigs owned by PDSI, purchased since 2011. The American-made rig has become a favorite for drilling because it has various advantages such as operating using the operating system with a touch screen, where one monitor can control all existing equipment and can provide information based on drilling activities conducted with alarm system and Warning.

    The cyber rig has a maximum setup system, operated by only one person with the support of 5 600 volt power generator engine.

"Out of a total of 10 cyber rigs we have, it never stops working on exploration projects. Currently there are 4 units operated in Java, 3 for Geothermal project, and 3 units in Aceh "he explained.

    Previously the cyber rig has also been operated in Kalimantan for exploration purposes in the business environment of Pertamina and in other Contractor Cooperation Contracts (KKKS/CCC) in Indonesia.

    Comedy added the PDSI cyber rig has a power of 1500 HP and 1000 HP where its usage will be adjusted to the depth and drilling that will be done.

"In Jas-9 field we operate a 1500HP rig for a depth of 3350 meters," he said.

    With the number of drilling requests using cyber rigs, PDSI plans in 2018 will again procure 6 cyber rigs, namely 3 units of 1500 HP and 3 units of 1000 HP.

"We are optimistic, the future projection of cyber rigs will be indispensable to our customers, where more safety by minimizing the risks that become one of the considerations of demand for the use of this cyber rig," he concluded.

IN INDONESIA

PDSI Optimalkan Pengoperasian Rig Cyber

    PT Pertamina Drilling Service Indonesia (PDSI) saat ini sedang mengerjakan salah satu lapangan Jatiasri-9 (Jas-9) milik PT Pertamina EP dengan mengoperasikan salah satu Rig Cyber - 55.

    Rig Cyber merupakan rig yang dioperasikan dan dikontrol secara akurat dengan sistem komputer. Rig Cyber-55 berkekuatan 1500 HP (Horse Power) dengan kode # RIG PDSI # 31.3/D1500-E dioperasikan di lapangan Jas-9 sejak 30 Desember 2017.

    Menurut Project Manager PDSI Jawa - KTI (Kawasan Timur Indonesia), Komedi, rig tersebut merupakan satu dari 10 rig cyber yang dimiliki PDSI, yang dibeli sejak tahun 2011. Rig buatan Amerika tersebut menjadi primadona pengeboran karena memiliki berbagai keunggulan antara lain pengoperasiannya menggunakan sistem pengoperasian dengan layar sentuh, dimana satu monitor bisa mengontrol semua peralatan yang ada dan bisa memberikan informasi berdasarkan aktivitas pengeboran yang dilakukan dengan sistem alarm dan Warning.

    Rig cyber memiliki sistem pengaturan yang maksimal, hanya dioperasikan satu orang dengan dukungan 5 mesin genset berkekuatan 600 volt.

“Dari total 10 rig cyber yang kami miliki, semuanya tidak pernah berhenti untuk mengerjakan berbagai proyek eksplorasi. Saat ini ada 4 unit dioperasikan di Pulau Jawa, 3 untuk proyek Geothermal, dan 3 unit di Aceh" jelasnya.

    Sebelumnya rig cyber juga pernah dioperasikan di Kalimantan untuk keperluan eksplorasi di lingkungan bisnis Pertamina maupun di Kontraktor Kontrak Kerjasama lainnya (KKKS) yang ada di Indonesia.

    Komedi menambahkan rig cyber yang dimiliki PDSI memiliki kekuatan 1500 HP dan 1000 HP dimana penggunaannya akan disesuaikan dengan kedalaman dan pengeboran yang akan dilakukan.

“Di lapangan Jas-9 ini kami mengoperasikan rig 1500HP untuk kedalaman 3350 meter,”katanya.

    Dengan banyaknya permintaan pengeboran menggunakan rig cyber, rencananya PDSI pada tahun 2018 ini akan kembali melakukan pengadaan 6 rig cyber, yakni 3 unit berbekuatan 1500 HP dan 3 unit berkekuatan 1000 HP.

"Kami optimis, proyeksi ke depan rig cyber akan sangat diperlukan untuk konsumen kami, dimana lebih safety dengan meminimalisir risiko yang menjadi salah satu pertimbangan permintaan penggunaan rig cyber ini,"pungkasnya.

Investor Daily, Page-9, Monday, Feb 5, 2018

Additional Inpex Contracts Still Hanging

    Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan once promised to give a 27 year extension of a contract to Inpex Masela Ltd to manage the Masela Block. The details are seven years for the compensation change of the production facility of floating liquefied natural gas (LNG) to be onshore LNG and 20 years for the second contract extension.

    

 the Masela Block

   However, according to information, lnpex is still firmly asking for 10 years compensation for the change of production facilities, 20 years of the second contract period. It means that lnpex requested a 30 year extension, not just 27 years for the management of the Masela Block. In other words they want the Inpex contract to expire in 2058.

   

 Inpex Corporation - Japan

 On the other hand, the Director of Upstream Oil and Gas Development of the Ministry of Energy and Mineral Resources, Tunggal ensured that the extension of the lnpex and Shell contracts in the Masela Block was agreed upon, only to proceed formally.

"The extension has been discussed high level, just a formality," said Tunggal.

    Especially right this year, lnpex and Shell can apply for a contract renewal or 10 years before the contract expires. However Single has not been able to confirm whether lnpex and Shell have proposed a contract extension.

 Shell

"According to the rules, apply through SKK Migas first. After that later SKK Migas submitted to the minister, "said Tunggal.

    Meanwhile, Nico Muhyiddin, Vice President of Corporate Services at Inpex Corporation declined to comment on the extension of the contract in Masela Block. Because lnpex currently is still focused to complete the pre-front end engineering design (feed) Masela Block targeted can be completed mid of this year.

    Therefore, the plan of development (POD) I can be submitted at the end of 2018. So the Masela Block can produce up to 9.5 million tons per year plus 150 mmscfd in 2027, a year before the Masela Block expires. Domestic gas buyers are still being sought. Although some dare to buy at a price of US $ 5.2-US $ 6.2 per mmbtu.

IN INDONESIA

Tambahan Kontrak Inpex Menggantung

    Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan pernah berjanji memberikan perpanjangan kontrak selama 27 tahun kepada lnpex Masela Ltd untuk mengelola Blok Masela. Rinciannya tujuh tahun untuk kompensasi perubahan fasilitas produksi dari floating liquefied natural gas (LNG) menjadi onshore LNG dan 20 tahun untuk perpanjangan kontrak kedua.

    Namun, menurut informasi, lnpex masih tetap kukuh meminta kompensasi 10 tahun atas berubahnya fasilitas produksi tersebut, 20 tahun masa kontrak kedua. Artinya lnpex meminta perpanjangan 30 tahun, bukan hanya 27 tahun untuk pengelolaan Blok Masela. Dengan kata lain mereka ingin kontrak Inpex habis tahun 2058.

    Di lain pihak, Direktur Pembinaan Hulu Migas Kementerian ESDM, Tunggal memastikan perpanjangan kontrak lnpex dan Shell di Blok Masela sudah disepakati, hanya melanjutkan proses secara formal.

"Perpanjangan tersebut sudah dibahas high level, hanya formalitas saja," ujar Tunggal.

    Apalagi tepat pada tahun ini, lnpex dan Shell sudah bisa mengajukan proposal perpanjangan kontrak atau 10 tahun sebelum kontrak berakhir. Namun Tunggal belum bisa memastikan apakah lnpex dan Shell sudah mengajukan perpanjangan kontrak.

“Sesuai aturan bisa, mengajukan melalui SKK Migas dulu. Setelah itu nanti SKK Migas mengajukan ke menteri,” kata Tunggal.

    Sementara itu Nico Muhyiddin, Vice President Corporate Services at Inpex Corporation enggan berkomentar perihal perpanjangan kontrak di Blok Masela. Pasalnya lnpex saat ini memang masih fokus untuk menyelesaikan pre-front end engineering design (feed) Blok Masela yang ditargetkan bisa rampung pertengahan tahun ini.

    Dengan begitu, plan of development (POD) I bisa diajukan di akhir tahun 2018. Sehingga Blok Masela bisa berproduksi mencapai 9,5 juta ton per tahun plus 150 mmscfd pada 2027, setahun sebelum kontrak Blok Masela habis. Pembeli gas untuk domestik masih terus dicari. Meskipun ada yang berani membeli dengan harga US$ 5,2-US$ 6,2 per mmbtu.

Kontan, Page-14, Monday, Feb 5, 2018

Pertamina Adds Six Cyber ​​Rigs

Minimize the Risk of Drilling

    PT Pertamina Drilling Service Indonesia (PDSI) will procure six cyber rigs this year to optimize drilling activities. The details, three units of rig cyber-powered 1,500 HP (horse power) and three other units of 1,000 HP.

     Project Manager PDSI Java-KTI (Eastern Indonesia) Komedy states, the current demand for drilling using cyber rigs is increasing.

 

 Cyber ​​Rig

"Cyber ​​rigs are rigs that are operated and controlled accurately with computer systems," says Komedi.

    He said, the type of rig is able to minimize the risk during drilling. Therefore, the American-made rig can control all the equipment with just one monitor touch screen technology.

"Can provide information based on drilling activities conducted with alarm and warning system," he said.

    Currently PDSI is working on one of the Jatiasri-9 (Jas-9) fields owned by PT Pertamina EP by operating one of the Cyber-55 Rigs. The rig is operated in the Jas-9 field since December 30, 2017.

"Of the total 10 cyber rigs we have, it never stops to work on exploration projects," he explained.

    Currently there are four units of cyber rigs operated in Java Island. Then, three units for geothermal projects and three units in Aceh. For geothermal projects, PT Pertamina Geothermal Energy (PGE) targets the Karaha (Tasikmalaya) Geothermal Power Plant (Tasikmalaya) to be in commercial operation date (COD) later this month.

    The 30 MW capacity plant is expected to improve the reliability of the Java-Bali transmission system with an additional 227 gWh / year electricity supply.

    Electricity production that utilizes clean energy is estimated to illuminate 33 thousand homes. Utilization will reduce greenhouse gas emissions by 202 thousand tons CO2 / year. 

    With the operation of PLTP Karaha, PGE's installed total capacity is 617 MW. Namely, consisting of Kamojang, West Java 235 MW, Lahendong, North Sulawesi 120 MW; Ulubelu, Lampung 220 MW; Sibayak, North Sumatra 12 MW and Karaha, West Java 30 MW

IN INDONESIA

Pertamina Tambah Enam Rig Cyber

Meminimalkan Risiko saat Pengeboran

    PT Pertamina Drilling Service Indonesia (PDSI) akan melakukan pengadaan enam rig cyber tahun ini untuk mengoptimalkan kegiatan pengeboran. Perinciannya, tiga unit rig cyber berkekuatan 1.500 HP (horse power) dan tiga unit lainnya berkekuatan 1.000 HP. 

     Project Manager PDSI Jawa-KTI (Kawasan Timur Indonesia) Komedi menyatakan, saat ini permintaan pengeboran menggunakan rig cyber memang meningkat.

"Rig cyber merupakan rig yang dioperasikan dan dikontrol secara akurat dengan sistem komputer,” ujar Komedi.

    Dia menuturkan, rig jenis itu mampu meminimalkan risiko saat pengeboran. Sebab, rig buatan Amerika tersebut bisa mengontrol semua peralatan hanya dengan satu monitor berteknologi layar sentuh.

"Bisa memberikan informasi berdasar aktivitas pengeboran yang dilakukan dengan sistem alarm dan warning," tuturnya.

    Saat ini PDSI sedang menggarap salah satu lapangan Jatiasri-9 (Jas-9) milik PT Pertamina EP dengan mengoperasikan salah satu Rig Cyber-55. Rig tersebut dioperasikan di lapangan Jas-9 sejak 30 Desember 2017.

"Dari total 10 rig cyber yang kami miliki, semuanya tidak pernah berhenti untuk menggarap berbagai proyek eksplorasi," jelasnya.

    Saat ini ada empat unit rig cyber yang dioperasikan di Pulau Jawa. Kemudian, tiga unit untuk proyek geotermal dan tiga unit di Aceh. Untuk proyek geotermal, PT Pertamina Geothermal Energy (PGE) menargetkan Pembangkit Listrik Tenaga Panas Bumi (PLTP) Karaha (Tasikmalaya) akan beroperasi komersial (commercial operation date/COD) akhir bulan ini.

    Pembangkit berkapasitas 30 MW tersebut diharapkan dapat meningkatkan keandalan sistem transmisi Jawa-Bali dengan tambahan suplai listrik sebesar 227 gWh/tahun.

    Produksi listrik yang memanfaatkan energi bersih itu diperkirakan menerangi 33 ribu rumah. Pemanfaatannya akan menurunkan emisi gas rumah kaca sebesar 202 ribu ton CO2/tahun. Dengan beroperasinya PLTP Karaha, total kapasitas terpasang PGE adalah 617 MW. Yakni, terdiri atas Kamojang, Jawa Barat 235 MW, Lahendong, Sulawesi Utara 120 MW; Ulubelu, Lampung 220 MW; Sibayak, Sumatera Utara 12 MW dan Karaha, Jawa Barat 30 MW

Jawa Pos, Page-6, Monday, Feb 5, 2018

Some Contractors Interested

auction of oil and gas blocks

    Several oil and gas contractors are interested to participate in the 25-40 auction of oil and gas working areas to be opened this month. Some companies claim to see offerings of about 25 work areas to 40 work areas as an opportunity to strengthen oil and gas business in Indonesia.

    Vice President of Public and Government Affairs of ExxonMobil Indonesia Erwin Maryoto said it will continue to seek and evaluate new opportunities in Indonesia.

"We will seek potential in Indonesia that is in line with business objectives, including oil and gas blocks offered by the Indonesian government," he said.

    Erwin said, it is committed to continue to invest in the oil and gas sector in Indonesia, both upstream and downstream sectors.

"Currently, our oil and gas production from Banyu Urip field in Cepu Block is more than 200,000 barrels per day. Nationally, the production is arguably already 25% of total oil and gas production in Indonesia, "he said.

    Not only Exxon, PT Saka Energy Indonesia was already square off to follow the auction of oil and gas blocks this year. Vice President Exploration Saka Energi Indonesia Rovicky Putrohari said the company is proposing to conduct joint study on two working areas this year.

"A joint study proposal has been submitted to the government."
     Subsidiary of PT PGN Tbk. it just won an oil / gas block auction stage I / 2017 at the end of last month. Saka Energy won the Pekawai Block and West Yamdena Block. At the 2018 oil and gas block auction there are 40 work areas ready to be auctioned, but the Ministry of Energy and Mineral Resources (ESDM) is still evaluating the prospect of 15 termination working areas available.

 
    The 25 unconventional conventional oil and gas blocks will come from the work areas available by 2018, working areas prepared for the second phase / 2017 auction, and unsold work areas by 2015 and 2016.

    Meanwhile, the ESDM ministry has allowed oil and gas companies to conduct joint studies on oil and gas working areas to be auctioned.

IN INDONESIA

Beberapa Kontraktor Mulai Berminat

    Beberapa kontraktor minyak dan gas bumi berminat untuk ikut serta dalam lelang 25-40 wilayah kerja migas yang akan dibuka bulan ini. Beberapa perusahaan mengaku melihat penawaran sekitar 25 wilayah kerja sampai 40 wilayah kerja sebagai peluang untuk memperkuat bisnis migas di Indonesia.

    Vice President Public and Government Affairs ExxonMobil Indonesia Erwin Maryoto mengatakan, pihaknya akan terus mencari dan mengevaluasi kesempatan baru yang ada di Indonesia.

“Kami akan mencari potensi di Indonesia yang sesuai dengan tujuan bisnis, termasuk blok-blok migas yang ditawarkan pemerintah Indonesia,” ujarnya.

    Erwin menuturkan, pihaknya berkomitmen untuk terus berinvestasi pada sektor migas di Indonesia, baik sektor hulu maupun hilir.

“Saat ini, produksi migas kami dari lapangan Banyu Urip di Blok Cepu sudah Iebih dari 200.000 barel per hari. Secara nasional, produksi itu bisa dibilang sudah 25% dari total produksi migas di Indonesia,” tuturnya.

    Bukan hanya Exxon saja, PT Saka Energi Indonesia pun sudah ancang-ancang untuk mengikuti lelang blok migas pada tahun ini. Vice President Exploration Saka Energi Indonesia Rovicky Putrohari mengatakan, perseroan sedang mengajukan untuk melakukan studi bersama pada dua wilayah kerja pada tahun ini.

“Proposal studi bersama sudah diajukan kepada pemerintah.”

    Anak usaha PT PGN Tbk. itu baru saja memenangkan lelang blok migas tahap I/2017 pada akhir bulan lalu. Saka Energi memenangkan Blok Pekawai dan Blok West Yamdena. Pada lelang blok migas 2018 terdapat 40 wilayah kerja yang siap dilelang, tetapi Kementerian Energi dan Sumber Daya Mineral (ESDM) masih mengevaluasi prospek 15 wilayah kerja terminasi yang tersedia.

    Secara 25 blok migas konvensional yang pasti dilelang itu berasal dari wilayah kerja yang tersedia pada 2018, Wilayah kerja yang disiapkan untuk lelang tahap II/2017, dan wilayah kerja yang tidak laku pada 2015 dan 2016.

    Sementara itu, kementerian ESDM telah mengizinkan perusahaan migas melakukan studi bersama terhadap wilayah kerja migas yang akan dilelang.

Bisnis Indonesia, Page-30, Monday, Feb 5, 2018

LPG & Regasifikasi Removed from Pertagas

    PT Perta Arun Gas and PT Perta Samtan Gas will be excluded from PT Pertamina Gas to make it easier for the company to consolidate its natural gas business.

    Perta Arun and Perta Samtan have been the subsidiaries of PT Pertamina Gas (Pertagas). The two companies will be merged into a subsidiary of PT Pertamina (Persero) others who have a similar business.

    Perta Arun is a subsidiary of Pertagas that manages the floating storage and regasification unit (FSRU) Arun. Meanwhile, Perta Samtan has been producing Liquefied Petroleum Gas (LPG).

    In fact, the separation plan has been strengthened in the company's work plan and budget (RKAP) 2018 Pertagas which did not include Perta Arun and Perta Samtan.

    Pertagas, a subsidiary of Pertamina, also targets a net profit of 2018 of US $ 116 million, down 17.73 percent compared to last year's US $ 141 million because it does not include Perta Arun and Perta Samtan contributions.

    President Director of Pertagas Suko Hartono said that the company's net profit target fell because it did not include contributions from its two subsidiaries, Perta Arun and Perta Samtan.

 "Target [Pertagas's net profit] in 2018 is slightly decreased because in RKAP does not include two subsidiaries [Perta Arun and Perta Samtan]. The two subsidiaries will be merged into other Pertamina subsidiaries, "he said during a discussion of 2018 Industry and Gas Outlook.

    He did not clearly explain the separation of the two subsidiaries in connection with the plan to create a holding company of state-owned oil and gas companies that include PT Perusahaan Gas Negara (Persero) Tbk. into Pertamina. After PGN becomes part of Pertamina, the next step is to synergize the natural gas issuer with Pertagas.

    At the extraordinary general meeting of shareholders (PGAS) codenamed stockholders held on January 25, 2018, PGN shareholders agreed to join Pertamina.

"Perta Arun and Perta Samtan will enter the holding [Pertamina]. That is to facilitate the consolidation. We together with Pertagas Niaga remain one unit, "he said.

    Perta Arun and Perta Samtan are two of Pertagas's four subsidiaries. Two other subsidiaries are PT Pertagas Niaga and PT Perta Daya Gas.

    In 2017, Perta Samtan recorded a net profit of US $ 26.7 million and Perta Arun posted net profit of US $ 24.6 million. In addition, Pertagas Niaga contributed net profit of US $ 9.3 million and Perta Daya amounting to US $ 644,000. The rest, about 67%, came from Pertagas net profit.

    The release of Perta Arun and Perta Samtan is part of the plan to create a holding company of BUMN oil and gas which incorporates PGAS into Pertamina.

MORE EFFICIENT

    According to him, the concept of holding is the ideal form now for PGN and Pertagas that have similar business sectors so that the operations of both companies in the field become more efficient.

"When talking Pertagas and PGN divisions. Pertagas will take care of the transmission pipeline and PGN takes care of the distribution. So, if integration, not overlapping actually, "he said.

    Suko said that if talked about assets, Pertagas has an open access transmission pipeline network that can be freely used by anyone. On the other hand, PGN has a distribution pipeline network.

"Our pipes are intercity inter-provinces and can deliver all. Meanwhile, PGN is strong in the distribution pipeline, "he stressed.

    Suko added that in 2017 Pertagas's net profit performance surpassed PGN. As of September 2017, Pertagas's net profit reached US $ 111.52 million and PGN was only US $ 97.9 million. In fact, in terms of revenue, PGN recorded US $ 2.16 million while Pertagas US $ 463.62 million.

    Suko said that in relation to the plan, the incorporation of PGN with Pertagas, the team needs to identify the problems that exist in PGN and Pertagas first to be completed.

"So the most ideal, walk first. To implement the merger of two companies is not as easy as imagined. I imagine, maybe 1 year, "said Suko.

    Melanton Ganap, Technical Director and Commerce Commercial Director, said that this year Pertagas Niaga is targeting a net profit of US $ 24.05 million, a significant increase compared to its performance in 2017.

    The increase in net profit will be supported by the addition of large-scale gas customers as many as 32 companies and also plans to supply liquefied natural gas / LNG for a number of power plants PT Perusahaan Listrik Negara (Persero) in Bangka Belitung.

"In 2018, there will be an LNG commercial plan to PLN Batam, Bangka Belitung for 28 BBtud [billion British thermal unit, and LNG Niaga LNG to PLN Sambera with 7.5 BBtud from April," Melanton said.

    Perta Arun Gas Budiyana, Pertam Arun's operating and engineering director, said that Perta Arun has set a net profit target of US $ 27 million this year from US $ 24 million, S9 million. One effort made by optimizing the regasification facility also expects PLN to classify its gas allocation for the Karadeniz power plant. "

    Axis Mahendrawanto, Vice President Director of Pertam Samtan Gas, said that currently Pertam Samtan has just contributed 3% of total national LPG requirement. In 2017, Pertam Samtan's total LPG production totaled 195,000 tons.

"Last year we managed to record revenues of US $ 106.9 million and net income of US $ 26.7 million. Performance depends on the price of [LPG] Aramco. "

IN INDONESIA

Elpiji & Regasifikasi Dilepas dari Pertagas

    PT Perta Arun Gas dan PT Perta Samtan Gas akan dikeluarkan dari PT Pertamina Gas untuk mempermudah perseroan dalam melakukan konsolidasi bisnis gas bumi.

    Perta Arun dan Perta Samtan selama ini menjadi anak usaha PT Pertamina Gas (Pertagas). Kedua perusahaan itu akan digabung ke anak perusahaan PT Pertamina (Persero) lainnya yang memiliki bisnis serupa.

    Perta Arun merupakan anak usaha Pertagas yang mengelola fasilitas penyimpanan dan regasifikasi terapung (floating storage & regasification unit/ FSRU) Arun. Sementara itu, Perta Samtan selama ini memproduksi gas elpiji (liquefied petroleum gas/LPG).

    Bahkan, rencana pemisahan itu sudah diperkuat dalam rencana kerja dan anggaran perusahaan (RKAP) 2018 Pertagas yang tidak memasukkan Perta Arun dan Perta Samtan.

    Pertagas, anak usaha Pertamina, pun menargetkan laba bersih 2018 sebesar US$ 116 juta turun 17,73% dibandingkan dengan realisasi tahun lalu US$ 141 juta karena tidak lagi memasukkan kontribusi Perta Arun dan Perta Samtan.

    Direktur Utama Pertagas Suko Hartono mengatakan bahwa target laba bersih perseroan turun karena tidak memasukkan kontribusi dari dua anak usahanya, yakni Perta Arun dan Perta Samtan.

 “Target [laba bersih Pertagas] pada 2018 sedikit turun karena dalam RKAP tidak memasukkan dua anak usaha [Perta Arun dan Perta Samtan]. Dua anak usaha itu akan digabung ke anak perusahaan Pertamina lainnya,” katanya saat diskusi Outlook Industri dan Gas 2018.

    Dia tidak menjelaskan secara jelas pemisahan dua anak usaha itu terkait dengan rencana pembentukan induk usaha BUMN migas yang memasukkan PT Perusahaan Gas Negara (Persero) Tbk. ke dalam Pertamina. Setelah PGN menjadi bagian dari Pertamina, tahap berikutnya adalah menyinergikan emiten gas bumi itu dengan Pertagas.

    Dalam rapat umum pemegang saham (RUPS) luar biasa emiten berkode saham PGAS yang digelar pada 25 Januari 2018, pemegang saham PGN sepakat untuk bergabung ke dalam Pertamina.

“Perta Arun dan Perta Samtan akan masuk ke holding [Pertamina]. Itu untuk memudahkan secara konsolidasi. Kami bersama Pertagas Niaga tetap menjadi satu kesatuan,” katanya.

    Perta Arun dan Perta Samtan merupakan dua dari empat anak usaha Pertagas. Dua anak usaha lainnya adalah PT Pertagas Niaga dan PT Perta Daya Gas.

    Pada 2017, Perta Samtan tercatat membukukan laba bersih US$ 26,7 juta dan Perta Arun mencetak laba bersih US$ 24,6 juta. Selain itu, Pertagas Niaga memberikan kontribusi laba bersih US$ 9,3 juta dan Perta Daya sebesar US$ 644.000. Sisanya, sekitar 67%, berasal dari laba bersih Pertagas.

    Pelepasan Perta Arun dan Perta Samtan merupakan bagian dari rencana pembentukan induk usaha BUMN migas yang menggabungkan PGAS ke dalam Pertamina.

LEBIH EFISIEN

    Menurutnya, konsep holding merupakan bentuk ideal saat ini untuk PGN dan Pertagas yang mempunyai sektor usaha sejenis sehingga kegiatan operasi kedua perusahaan di lapangan menjadi lebih efisien.

“Kalau bicara pembagian Pertagas dan PGN. Pertagas akan mengurus [pipa gas] transmisi dan PGN mengurus distribusi. Jadi, kalau integrasi, tidak tumpang tindih sebenarnya,” kata dia.

    Suko mengatakan, jika bicara aset, Pertagas memiliki jaringan pipa transmisi open access yang bisa bebas digunakan siapapun. Di sisi lain, PGN memiliki jaringan pipa distribusi.

“Pipa kami itu antarkota antarprovinsi dan bisa mengantar semua. Sementara itu, PGN kuat di pipa distribusi,” tegas dia.

    Suko menambahkan, pada 2017 kinerja laba bersih Pertagas berhasil melampaui PGN. Per September 2017, laba bersih Pertagas mencapai US$ 111,52 juta dan PGN hanya US$ 97,9 juta. Padahal, dari sisi pendapatan, PGN membukukan US$ 2,16 juta  sedangkan Pertagas US$ 463,62 juta.

    Suko menuturkan, terkait dengan rencana, penggabungan PGN dengan Pertagas, tim perlu mengindentifikasi masalah-masalah yang ada di PGN dan Pertagas terlebih dahulu untuk kemudian diselesaikan.

“Jadi paling ideal, berjalan beririgan dulu. Untuk mengimplementasi penggabungan dua perusahaan tidak semudah yang dibayangkan. Saya bayangkan, mungkin 1 tahun,” ungkap Suko.

    Melanton Ganap, Direktur Teknik dan Komersial Pertagas Niaga, mengatakan bahwa pada tahun ini Pertagas Niaga menargetkan laba bersih US$ 24,05 juta, naik signifikan dibandingkan dengan kinerja pada 2017.

    Peningkatan laba bersih akan didukung penambahan pelanggan gas skala besar sebanyak 32 perusahaan dan juga rencana memasok gas alam cair/LNG untuk sejumlah pembangkit PT Perusahaan Listrik Negara (Persero) di Bangka Belitung.

“Pada 2018, ada rencana niaga LNG ke PLN Batam, Bangka Belitung sebesar 28 BBtud [miliar British thermal unit, dan rencana Niaga LNG ke PLN Sambera dengan volume 7,5 BBtud mulai April,” kata Melanton.

    Direktur operasi dan Teknik Perta Arun Gas Budiyana mengatakan, Perta Arun mematok target laba bersih US$27 juta pada tahun ini naik dibandingkan dengan 2017 sebesar US$24,S9 juta. Salah satu upaya yang dilakukan dengan mengoptimalkan fasilitas regasifikasi juga mengharapkan PLN meregasifikasikan alokasi gasnya untuk kapal pembangkit Karadeniz.”

    Axis Mahendrawanto, Vice President Direktur Perta Samtan Gas, mengatakan bahwa saat ini Perta Samtan baru saja  berkontribusi 3% dari total kebutuhan elpiji nasional. Pada 2017, total produksi elpiji Perta Samtan mencapai 195.000 ton.

“Tahun lalu kami berhasil membukukan pendapatan US$ 106,9 juta dan laba bersih US$ 26,7 juta. Kinerja bergantung pada harga
jual [LPG] Aramco.”

Bisnis Indonesia, Page-30, Monday, Feb 5, 2018

Bullish Prospect of Market Dominance

    A number of international investment banks posted a bullish outlook for crude oil commodities for the first half of 2018. The projection is in line with expectations of a successful cut of OPEC production tackling global supply surplus.

    Three international bank instruments issued a bullish outlook on oil commodities, Goldman Sachs Group Inc. Morgan Stanley, and JP Morgan Chase & Co.

   

 Goldman Sachs

 Goldman Sachs raised its price target to US $ 82 per barrel in the first half of this year, while JP Morgan estimated Brent's average oil price of US $ 70 per barrel to almost 50% higher than projected earlier in October.

    This is in line with OPEC and its allies' efforts to comply with a production cut of 1.8 million bpd by the end of 2018. The three-agency's bullish stand is inversely proportionate to the overwhelming skepticism.

     In 2014, Goldman Sachs published a report entitled "New Oil Order" stating that OPEC is "outdated" and officially no longer valid. Goldman Sachs Group Inc. estimates that OPEC's efforts to curb supply will be virtually ineffective when the US shale oil industry can rapidly increase production at large volumes.
   

 Morgan Stanley

 Similarly, Morgan Stanley could judge OPEC's decision to announce the intention of cutting production in September 2016 is unlikely to be implemented. Meanwhile, JP Morgan expects the OPEC deal to collapse by the end of 2017 and Commerz bank AG says OPEC is too promising and lacking in service.

    However, OPEC members actually apply 95% of the cuts promised last year. The realization of production cuts by OPEC allies reached 82%. OPEC's compliance has improved over the past year to 129% by December 2017. Admittedly, unplanned losses in Venezuela and elsewhere have helped, but clearly no compliance levels have taken place in the history of OPEC.

    Medio in January 2018, Goldman Sachs raised its Brent price forecast, an international benchmark for oil, averaging US $ 75 per barrel over the next 3 months. The projection is up from the previous target of US $ 62 per barrel.

    Goldman Sachs also raised its 6 and 12 month forecasts to US $ 82, S0 and US $ 75 per barrel respectively. Goldman's projection is the most bullish compared to JP. Morgan and Morgan Stanley.

   

 JP Morgan

 Last week, JP Morgan raised its Brent oil price forecast to US $ 70 per barrel this year and US $ 78 per barrel in the first half of 2018. Meanwhile, Morgan Stanley expects Brent oil prices to touch US $ 75 per barrel this year.

    On Friday (1/2), oil prices fell as the dollar surged following strong US employment data. At the close of trading in West Texas Intermediate (WTI) oil prices the most-active contract in March 2018 fell 0.35 points or 0.53 percent to US $ 65.45 a barrel on the New York Mercantile Exchange.

    The most-active Brent oil price in April 2018 fell 1.07 points, or 1.54 percent, to $ 68, S8 per barrel on the London-based ICE Futures Europe exchange. Meanwhile, the US dollar index rose 0.52 points or 0.59% to 89.195 after the release of positive US labor data.

    The US Labor Department released Friday reported nonfarm payroll data [NFP] for the January 2018 period to increase by 200,000, higher than the 175,000 consensus, while the unemployment rate was unchanged at 4.1%.

US PRODUCTION

    Crude was also hit by US production rising above 10 million barrels per day (bpd) for the first time in more than four decades in November, the Energy Information Administration (EIA) reported earlier this week. Production also hit record levels, making oil prices lose power these days.

"Oil prices have come under pressure due to rising US oil production along with a rebound in the US dollar index. The price is currently in the overbought region, which has also led to profit-taking, "said Abhisek Kumar, senior energy analyst at Interfax Energy's Global Gas Analytics in London, as reported by Reuters.

    Despite the weakness, crude oil prices are still supported by strong demand as producers attempt to cut production deals.

Jon Rigby, an analyst at UBS AG, said in a note saying that the production of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC and US shale oil has been justified to focus this year. But according to him, demand has supported tightening.

"Demand has quietly supported market tightening over the past year," Rigby said, as quoted by Reuters.

    Global crude oil demand last year rose 1.6 million barrels per day (bpd), or about 1.5% from a year earlier. UBS AG projects that this year oil demand will grow 1.3 million bpd.

    According to a Reuters survey, OPEC production in January 2018 has risen from an eight-month low, but this increase is not significant. Meanwhile, Russian data became a form of strong adherence to a decline in output with an output amount of only 10.95 million bpd at present.

"Last year, efforts to cut production of oil inventories fell by 220 million barrels from a level of 340 million barrels.The world crude oil producers' compulsory rose 138% in January 2018 from 137% in December 2017. Commitment to a production trimming deal will not be deterred even when oil prices reaching its highest level since 2014, "he said.

    The cut has offset rising US crude oil output based on Energy Information Administration (EIA) data that has exceeded 10 million bpd in November for the first time since 1970. Meanwhile, Baker Hughes said that in the second week of February, the US will add 6 drilling rigs, so it has a total of 765 rigs, the second consecutive week's rise.

IN INDONESIA

Prospek Bullish Dominasi Pasar

Sejumlah investment bank internasional memasang prospek bullish terhadap komoditas minyak mentah untuk periode semester I/2018. Proyeksi itu sejalan dengan harapan berhasilnya pemangkasan produksi OPEC mengatasi kelebihan pasokan global.

Tiga instrument bank international yang mengeluarkan prospek bulish terhadap komoditas minyak, yakni Goldman Sachs Group Inc. Morgan Stanley, dan JP Morgan Chase & Co.

    Goldman Sachs menaikkan target harga mencapai US$ 82 per barel pada paruh pertama tahun ini, sedangkan JP Morgan memperkirakan harga rerata minyak Brent sebesar US$ 70 per barel hampir 50% lebih tinggi dari proyeksi awal Oktober lalu.

    Hal ini sejalan dengan upaya OPEC dan sekutunya untuk mematuhi kesepakatan pemangkasan produksi sebanyak 1,8 juta bph hingga akhir 2018. Sikap bullish tiga institusi keuangan itu berbanding terbalik dari skeptisisme yang membayangi selama ini.

    Pada 2014, Goldman Sachs menerbitkan laporan berjudul “New Oil Order” yang menyebutkan bahwa OPEC “sudah usang” dan secara resmi tidak berlaku lagi. Ketika itu, Goldman Sachs Group Inc memperkirakan bahwa upaya OPEC untuk mengekang pasokan hampir tidak akan efektif di saat industri shale oil Amerika Serikat yang dapat meningkatkan produksi dengan cepat dengan volume yang besar.

    Senada, Morgan Stanley sempat menilai langkah OPEC mengumumkan niat pemangkasan produksi pada September 2016 kecil kemungkinan untuk di implementasikan. Adapun, JP Morgan memperkirakan kesepakatan OPEC akan runtuh pada akhir 2017 dan Commerz bank AG mengatakan OPEC terlalu menjanjikan dan kurang mengabdi.

    Namun, nyatanya anggota OPEC justru menerapkan 95% pemotongan yang dijanjikan tahun lalu. Adapun realisasi pemangkasan produksi oleh para sekutu OPEC mencapai 82%. Kepatuhan OPEC membaik sepanjang tahun lalu hingga mencapai 129% pada Desember 2017. Diakui, kerugian yang tidak direncanakan di Venezuela dan tempat lain telah membantu, namun yang jelas tingkat kepatuhan tidak pernah terjadi dalam sejarah OPEC.

    Medio Januari 2018, Goldman Sachs menaikkan proyeksi harga Brent, patokan internasional untuk minyak, rata-rata US$ 75 per barel selama 3 bulan ke depan. Proyeksi itu naik dari target sebelumnya sebesar US$ 62 per barel.

    Goldman Sachs juga menaikkan perkiraan 6 dan 12 bulan menjadi masing-masing US$ 82,S0 dan US$ 75 per barel. Proyeksi Goldman paling bullish dibandingkan dengan JP. Morgan dan Morgan Stanley.

    Pekan lalu, JP Morgan menaikkan perkiraan harga minyak Brent menjadi rerata US$ 70 per barel pada tahun ini dan US$ 78 per barel pada semester I/2018. Adapun, Morgan Stanley memperkirakan harga minyak Brent dapat menyentuh US$ 75 per barel pada tahun ini.

    Pada Jumat (1/2), harga minyak turun karena dolar melonjak menyusul data tenaga kerja AS yang kuat. Pada penutupan perdagangan harga minyak West Texas Intermediate (WTI) kontrak teraktif Maret 2018 melemah 0,35 poin atau 0,53% menjadi US$65,45 per barel di New York Merchantile Exchange.

    Adapun harga minyak Brent kontrak teraktif April 2018 turun 1,07 poin atau 1,54% menuju US$ 68,S8 per barel di ICE Futures Europe yang berbasis di London. Sementara itu, indeks dolar AS mengalami kenaikan 0,52 poin atau 0,59% menjadi 89,195 pasca rilis data tenaga kerja AS yang positif.

    Departemen Tenaga Kerja AS yang dirilis pada Jumat (1/2) melaporkan data non farm payroll [NFP) untuk periode Januari 2018 meningkat 200.000, lebih tinggi dari konsensus sebesar 175.000, sedangkan tingkat pengangguran tidak berubah sebesar 4,1%.

PRODUKSI AS

    Minyak mentah juga mengalami tekanan akibat produksi AS meningkat di atas 10 juta barel per hari (bph) untuk pertama kalinya dalam lebih dari empat dekade pada November, seperti dilaporkan Energy Information Administration (EIA) awal pekan ini. Produksi juga menpapai tingkat rekor tertinggi, membuat harga minyak kehilangan tenaga akhir-akhir ini.

“Harga minyak telah mendapatkan tekanan karena kenaikan produksi minyak AS bersamaan dengan rebound indeks dolar AS. Harganya saat ini berada di wilayah overbought, yang juga telah mendorong aksi ambil untung,” kata Abhisek Kumar, senior energy analyst di Interfax Energy’s Global Gas Analytics di London, seperti dilansir Reuters.

    Kendati mengalami pelemahan, harga minyak mentah masih mendapat dukungan dari permintaan yang kuat seiring dengan upaya produsen dalam menjalankan kesepakatan pemotongan produksi.

    Jon Rigby, analis UBS AG dalam sebuah catatan menuturkan bahwa produksi Organization of Petroleum Exporting Countries (OPEC) dan non-OPEC serta minyak shale AS telah dibenarkan menjadi fokus pada tahun ini. Namun menurutnya, permintaan telah mendukung pengetatan.

“Permintaan secara diam-diam mendukung pengetatan pasar selama tahun lalu,” tutur Rigby, seperti dilansir dari Reuters.

    Permintaan minyak mentah global pada tahun lalu naik 1,6 juta barel per hari (bph), atau sekitar 1,5% dari tahun sebelumnya. UBS AG memproyeksikan bahwa pada tahun ini permintaan minyak akan tumbuh 1,3 juta bph.

    Menurut survei Reuters, produksi OPEC pada periode Januari 2018 telah naik dari level terendah 8 bulan, namun kenaikan ini tidak signifikan. Sementara itu, data Rusia menjadi bentuk kepatuhan yang kuat terhadap penurunan produksi dengan jumlah output hanya 10,95 juta bph pada saat ini.

"Tahun lalu, upaya pemangkasan produksi persediaan minyak turun 220 juta barel dari level 340 juta barel. Kepatuhan produsen minyak mentah dunia naik 138% pada Januari 2018 dari 137% pada Desember 2017. Komitmen pada kesepakatan pemangkasan produksi tidak akan tergoyahkan, bahkan ketika harga minyak mencapai tingkat tertinggi sejak 2014,” paparnya.

    Pemotongan tersebut telah mengimbangi kenaikan produksi minyak mentah AS yang berdasarkan data Energy Information Administration (EIA) telah melampaui 10 juta bph pada November untuk pertama kalinya sejak 1970. Sementara itu, Baker Hughes mengatakan bahwa pada pekan kedua Februari, AS akan menambahkan 6 rig pengeboran, sehingga memiliki total sebanyak 765 rig, kenaikan minggu ke dua berturut-turut.

Bisnis Indonesia, Page-16, Monday, Feb 5, 2018

Bontang Passion Refinery

    PT Pertamina (Persero) is projecting the construction of a new oil refinery or Grass Root Refinery Bontang can start 2 years ahead or by 2020. As the project manager, the SOE targets to complete this mega project in 2025.

    Director of Mega Pertamina Processing and Petrochemical Project Ardhy Mokobombang said the mega project of Grass Root Refinery Bontang will absorb 20,000 workers.

"We are trying to advocate for the Ministry of Manpower for training and certification of construction workers," he said.

    In the meeting, Ardhy explained, training and certification of construction workers will be a priority before the refinery operates. This move is said to be similar to that applied to the Refinery Development Master Plan (RDMP) Refinery V Pertamina Refinery in Balikpapan.

    Meanwhile, the refinery model in Taman City will be similar to the model in Tuban, which is processing crude oil to fuel at least 300,000 barrels per day. Meanwhile, PT Pertamina cooperates with companies from Oman, Overseas Oil and Gas LLC (OOG), and Cosmo Oil International Pte Ltd (COl) in the development of a subsidiary or trading arm of Cosmo Energy Group one of Japan's oil processing companies.

    

 Overseas Oil and Gas LLC and Cosmo Oil International Pte Ltd (COl)

    He said in this cooperation, Pertamina certainly did not participate in financing the development fund. However, 10% of the shares as participated in the consortium belong to the company.

    

 Cosmo Energy Group one of Japan's

   So, he said Pertamina still has the authority to control the business, including in supplying crude oil to the refinery. The investment value of this new refinery is worth the US $ 10 billion or around Rp130 ​​trillion. The construction of the refinery requires an area of ​​up to 500 hectares. Bontang City Government itself has prepared the land in the Village area Bontang Lestari.

"For Grass Root Refinery 400 hectares but investors are interested in the concept of the petrochemical industry. So we ask for 100 hectares next to the refinery, "he said.

    He explained that the initial phase of construction will begin with the signing of a framework work contract agreement with a consortium targeted for completion this week.

"Then from there, Pertamina will be Feasibility study [FS] up to next year. After that go into the stages of preparation engineering package "

    The existence of the Grass-Root Refinery will increase the number of refineries in the gas and condensate processing areas. Previously in the same area has been established gas processing plant owned by PT Badak and fertilizer owned Pupuk Kaltim.

Bontang Mayor Neni Moerniaeni

     Bontang Mayor Neni Moerniaeni said Bontang people are very welcome this project, Bontang, said Neni, 82% of the land has been certified.

"We are ready to support this project as soon as possible."

    Neni claims infrastructure in Bontang is also one step ahead of other regions, especially when compared to Tuban. The existence of Bontang in the heart of East Kalimantan is more complete with the existence of the Port of Special Industrial Area [KIK].

 
    Beyond that, the City Government and the House of Representatives (DPRD) of Bontang are also drafting two related legal rules, among them, the Regional Regulation of Spatial Detail Plan (RDTR) and the Regional Regulation of Lnduk, Spatial and Regional Plan (RTRW). The last regulation in the drafting was difficult, considering that 12 items were rejected by local businessmen.

    When confirmed, the Chairman of the Special Committee RTRW Bontang Muslimin said if the process is waiting for evaluation RTRW of the Ministry of Agrarian and Spatial (ATR).
 

"The process is expected to take 2 months has been running for a month. Perhaps March has come out, "said Neni also saw the existence of this new oil refinery is important to support the resilience and independence of domestic energy, including reducing dependence on the outside," said Muslimin.

REVISION of Regional Regulations

    East Kalimantan Provincial People's Representative Council targets the revision of regional regulations or Regional Government Regulations of PT Migas Mandiri Pratama will be completed within the next 3 months. The revision refers to the Minister of Energy and Mineral Resources Regulation No.37 / 2016 regarding Terms of Participating Internal 10% Supply on Oil and Gas Working Area particularly Article 3 letter A number 2Capital Ownership.

    Meanwhile, the proposal and ratification of this regulation change has actually been rolling since the end of 2017. PT Migas Mandiri Pratama (MPP) is a BUMD established by the Provincial Government of East Kalimantan based on East Kalimantan Regulation no. 11/2009 which aims to control and manage the potential of oil and gas, both in upstream and downstream business activities particularly related to the Mahakam Work Area.

    The revision of the Regional Regulation is needed for the East Kalimantan The Provincial Government which currently controls 99.75% of shares can control a 100% stake in the BUMD. Currently, 0.25% of the shares still belong to the Cooperative Corps of Employees of the Republic of Indonesia of East Kalimantan

    Speaker of the East Kalimantan Regional House of Representatives (DPRD), HM Syahrun said the Special Committee will invite PT Pertamina and related government parties to do the deepening of the material. On the one hand, Alung, as he is called, said that the management of this work area will have an impact on increasing the contribution of state revenue and foreign exchange of state and local revenue.
"Through Participating Interest 10%, estimates, East Kalimantan can get a minimum of Rp 2 trillion in a year," said Syahrun.

    Syahrun is optimistic that the revision target can be overtaken. Only two articles are revised. First, article 8, paragraph 1 and 2 on Employee Appointment and Dismissal is regulated in accordance with Law no. 13/2003 on Manpower and Company Regulations of PT MMP Kaltim.

Second, article 10 paragraph 1 verse 4 in accordance with the provisions of Minister of Energy and Mineral Resources Regulation no. 37/2016 article 3 letter A number 2.

Bisnis Indonesia, Page-9, Monday, Feb 5, 2018