PGN & Pertagas Integration Still Finalization Stage

The process of integration of PT Perusahaan Gas Negara Tbk. and PT Pertamina Gas are still being prepared so that finalization of the two companies' integration transactions into the sub holding gas of state-owned oil and gas company on June 29, 2018.

President Director of Perusahaan Gas Negara (PGN) Jobi Triananda Hasjim said that the company is still waiting to decide the scheme of integration process with Pertamina Gas (Pertagas). The Company has not been able to comment further related to the extra ordinary General Meeting of Shareholders (GMS) and the payment transaction integration scheme.

"The point is all being processed, we are targeting this month it is all done," he said.

Acting President Director of PT Pertamina (Persero) Nicke Widyawati had said, the holding company transactions BUMN oil and gas is targeted to be completed on June 29, 2018.

"On June 29, 2018 it was for targeted integration transactions," Nicke said.

Based on Law no. 40/2007 on Limited Liability Company is mentioned when the acquisition transaction is less than 50% of the total net worth of a company, no directors need to request approval through GMS. PGN recorded asset positions worth US $ 6.46 billion until the first quarter of 2018. On the other hand, Pertagas assets amounted to US $ 1.92 billion by the end of 2017.

Deputy for Mining Business, Strategic Industries, and State Ministry of SOEs Fajar Harry Sampurno said that Pertagas valuation will not be more than US $ 2.5 billion. This means that the valuation of Pertagas to be acquired by PGN is under 50% of the PGAS-coded stock issuer's assets so it does not require a general meeting of shareholders.

No layoffs

Related to the formation of the parent company of BUM Migas, Pertamina ensures the integration process of PGN and Pertagas will not make Termination of Employment (PHK) either to PGN or Pertagas employees. Nicke said it reviewed two things, namely transaction schemes and organizations. In the transaction scheme many options will be selected and the company will choose the best for the integration of the gas subholding.

"Well, in the organization, we together with the Ministry of SOEs have also committed no termination of employment in the process of integration of PGN with Pertagas. We also want to raise these two companies, so instead need to add people to the front, "he said.

He stressed, the company will choose an integration scheme for organizations that need no layoffs.

"So, the organizational structure wants to be maintained. Moreover, PGN and Pertagas also have future business plans that must be run, "said Nicke.

Nicke recalls that the emptying of Pertagas President Director in May 2018 was not caused by PGN's integration plan with the subsidiary of Pertamina.

"If the President Director of Pertagas is empty it has nothing to do with integration with PGN. We also have a fill again position, "said Nicke.

On May 18, 2018, Pertagas announced that Suko Hartono had been dismissed with respect from his position of Pertagas President Director. The position was vacated for a while and Pertamina appointed Indra Setyawati as the daily duties and concurrently the Commercial and Development Director

Business Pertagas.

IN INDONESIA

Integrasi PGN & Pertagas Masih Tahap Finalisasi

Proses integrasi PT Perusahaan Gas Negara Tbk. dan PT Pertamina Gas masih terus disiapkan sehingga finalisasi transaksi integrasi kedua perusahaan ke dalam sub holding gas badan usaha milik negara minyak dan gas bumi pada 29 Juni 2018.

Direktur Utama Perusahaan Gas Negara (PGN) Jobi Triananda Hasjim mengatakan, perseroan masih menunggu untuk memutuskan skema proses integrasi dengan Pertamina Gas (Pertagas). Perseroan belum bisa berkomentar lebih jauh terkait dengan Rapat Umum Pemegang Saham (RUPS) luar biasa dan skema pembayaran transaksi integrasi tersebut.

“Intinya semua sedang diproses, kami targetkan bulan ini semuanya selesai,” ujarnya.

Pelaksana tugas Direktur Utama PT Pertamina (Persero) Nicke Widyawati sempat mengatakan, transaksi induk usaha (holding) BUMN migas ditargetkan bisa selesai pada 29 Juni 2018. 

“Pada 29 Juni 2018 itu untuk target transaksi integrasi,” kata Nicke.

Berdasarkan Undang-Undang No. 40/2007 tentang Perseroan Terbatas disebutkan bila transaksi akuisisi kurang dari 50% dari jumlah kekayaan bersih suatu perusahaan, direksi pun tidak perlu meminta persetujuan lewat RUPS. PGN mencatat posisi aset senilai US$6,46 miliar sampai kuartal I/2018. Di sisi lain, aset Pertagas US$1,92 miliar per akhir 2017.

Deputi Bidang Usaha Pertambangan, Indusri Strategis, dan Media Kementerian BUMN Fajar Harry Sampurno sempat menyebutkan bahwa valuasi Pertagas tidak akan lebih dari US$ 2,5 miliar. Hal itu berarti valuasi Pertagas yang akan diakuisisi PGN bernilai di bawah 50% dari aset emiten berkode saham PGAS itu sehingga tidak rnembutuhkan rapat umum pemegang saham.

Tidak Ada PHK

Terkait dengan pembentukan induk usaha BUM migas itu, Pertamina memastikan proses integrasi PGN dan Pertagas tidak akan membuat Pemutusan Hubungan Kerja (PHK) baik pada karyawan PGN maupun Pertagas. Nicke mengatakan, pihaknya mengkaji dua hal, yakni skema transaksi dan organisasi. Pada skema transaksi banyak opsi yang akan dipilih dan perseroan akan memilih yang terbaik untuk integrasi subholding gas tersebut.

“Nah, pada organisasi, kami bersama Kementerian BUMN pun sudah berkomitmen tidak ada pemutusan hubungan kerja dalam proses integrasi PGN dengan Pertagas. Kami juga ingin membesarkan kedua perusahaan ini, jadi malah butuh tambah orang ke depan,” ujarnya.

Dia menekankan, perseroan akan memilih skema integrasi untuk organisasi yang tidak perlu ada PHK.

“Jadi, struktur organisasinya ingin dijaga. Apalagi, PGN dan Pertagas juga punya rencana bisnis ke depan yang harus dijalankan,” kata Nicke.

Nicke menengaskan, pengosongan Direktur Utama Pertagas yang terjadi pada Mei 2018 bukan disebabkan oleh rencana integrasi PGN dengan anak usaha Pertamina tersebut.

“Kalau Direktur Utama Pertagas yang kosong itu tidak ada hubungannya sama integrasi dengan PGN. Kami juga sudah ada yang mengisi lagi posisinya,” kata Nicke.

Pada 18 Mei 2018, Pertagas mengumumkan Suko Hartono telah diberhentikan secara hormat dari posisinya Direktur Utama Pertagas. Posisi itu pun dikosongkan untuk sementara dan Pertamina menunjuk Indra Setyawati sebagai pelaksana tugas harian merangkap Direktur Komersial dan Pengembangan Bisnis Pertagas.

Bisnis Indonesia, Page-22, Monday, June 25, 2018.

Four Companies Compete to Become Pertamina Partners

PT Pertamina (Persero) said there are four oil and gas companies interested to participate in managing the Mahakam block. The Company targets the sale of participating interest in the Mahakam block to be completed this year.

Upstream Director of Pertamina Syamsu Alam said that it has received a statement of interest to join the Mahakam block from four companies. But until now, it has not determined who the company selected as a partner. It is still in talks with potential partners.

"Being discussed, not knowing the details, is still being discussed. Not only Inpex (who are interested), there are four companies, "he said on halal halal halalbihalal at the Ministry of Energy and Mineral Resources (ESDM), Jakarta.

One of the interested oil and gas companies is Inpex Corporation. Previously, Inpex was the partner of Total E&P Indonesie in working on the oil and gas block in East Kalimantan. In contrast, Total E&P lndonesie has long declared no interest in joining the Mahakam Block.

Because it is still in the conversation stage, Syamsu Alam claimed to be unable to confirm when the release of shares of participation (share down) Mahakam block is completed. However, it hopes there will be an agreement with potential partners for the Mahakam Block this year.

the Mahakam Block

"Hopefully finished this year," he said.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto, previously stated that Pertamina must be 51% majority shareholder in Mahakam block. In addition, the Regional Owned Enterprises (BUMD) must also obtain a 10% Indonesian participation right. The rest, Pertamina may release its share ownership to its partners.

"So Inpex can own up to 39%," said Djoko.

However, the amount of participation rights that Inpex ultimately has will refer to the results of negotiations with Pertamina. As it is known, Pertamina has signed a new Mahakam Block contract valid from 1 January 2018 at the end of 2015. Under the contract, the company promised a signature bonus of US $ 41 million. 

 In addition, state revenue from production bonuses includes US $ 5 million from a cumulative production of 500 million barrels of oil equivalent, of US $ 4 million from cumulative production of 750 million barrels of oil equivalent, and US $ 4 million from a cumulative production of 1,000 million barrels of oil equivalent .

As for the first three-year investment plan, Pertamina pledged US $ 75.3 million. The details are respectively US $ 1.3 million, then US $ 33.5 million, and US $ 40.5 million. Currently, Pertamina begins to manage the Mahakam block in preparation for operator switching. This is to keep the oil and gas production in the block does not drop dramatically.

As of May 31, oil and gas production in the Mahakam block is still below the target set in the APBN. Referring to data of Special Unit for Upstream Oil and Gas Business Executor (SKK Migas), the realization of Mahakam Block oil production is 44,638 barrels per day (bpd), 92.47% from 48,271 bph target. Gas production realization was only 932.7 million standard cubic feet per day / mmscfd, or 84% of the target 1,100 mmscfd.

Termination Block

At the same time, Pertamina is also in the process of selecting partners for ten 2018-2019 oil and gas blocks terminated to the company. According to Alam, the company is still preparing criteria from potential partners and the value of the shares to be released in every oil and gas block. He said the company will hold a majority stake.

"The termination block 2018-2019 majority ownership of its shares. The remaining partner, "Alam said.

Previously, Alam explained, the bidding process of participation rights starts from the oil and gas block where the production sharing contract / PSC of the company has already started to be effective. The reason, although the PSC for the ten blocks of oil and gas has been signed, but the contract has not been fully effective since the existing contracts of several oil and gas blocks still apply. Therefore, the offering of such participation rights will be done gradually in accordance with the effectiveness of the Pertamina contract.

"It's starting a sharedown, is being prioritized. Of course offered that we already have a contract, "he said.

As reported previously, Pertamina has signed a contract for 11 oil and gas blocks that ended its contract in 2017-2019. For 2018 terminating oil and gas blocks, Pertamina is granted 100% rights for eight blocks, namely Tuban, Ogan Komering, Sanga-Sanga, Southeast Sumatra (SES), North Sumatra Offshore (NSO), East Kalimantan, Attaka and Central Block.

For the other two blocks assigned to Pertamina are the Jambi Merang and Raja-Pendopo Blocks. However, the existing contract of oil and gas block is only completed next year. Thus, Pertamina's contract is effective next year. The effective termination block participation contract is targeted for completion this year. We expect something to be done this year, "said Alam.

Djoko said, many oil and gas companies are interested to buy the termination block participation rights offered by Pertamina. Some of the oil and gas blocks of Pertamina that interest other oil and gas companies are Mahakam Block, Sanga-Sanga, East Kalimantan and Jambi Merang.

IN INDONESIA

Empat Perusahaan Bersaing Menjadi Mitra Pertamina

PT Pertamina (Persero) menyatakan terdapat empat perusahaan migas yang berminat untuk ikut serta mengelola Blok Mahakam. Perseroan menargetkan penjualan hak partisipasi (participating/Interest/PI) di Blok Mahakam bisa selesai tahun ini.

Direktur Hulu Pertamina Syamsu Alam menuturkan, pihaknya telah menerima surat pernyataan minat untuk bergabung di Blok Mahakam dari empat perusahaan. Namun hingga saat ini, pihaknya belum menetapkan siapa perusahaan yang terpilih menjadi mitra. Pihaknya masih melakukan pembicaraan dengan para calon mitra tersebut.

“Sedang dibicarakan, belum tahu detailnya, masih dibicarakan. Tidak Inpex saja (yang berminat), ada empat perusahaan,” kata dia di sela halalbihalal di Kementerian Energi dan Sumber Daya Mineral (ESDM) , Jakarta.

Salah satu perusahaan migas yang berminat adalah Inpex Corporation. Sebelumnya, Inpex merupakan mitra dari Total E&P Indonesie dalam mengerjakan blok migas di Kalimantan Timur tersebut. Sebaliknya, Total E&P lndonesie sudah sejak lama menyatakan tidak berminat bergabung mengelola Blok  Mahakam.

Karena masih dalam tahap pembicaraan, Syamsu Alam mengaku belum dapat memastikan kapan proses pelepasan saham partisipasi (share down) Blok Mahakam ini selesai. Meski demikian, pihaknya berharap akan ada kesepakatan dengan calon mitra untuk Blok Mahakam pada tahun ini juga. 

“Mudah-mudahan selesai tahun ini,” ujarnya.

Direktur jenderal Minyak dan Gas Bumi Kementerian ESDM Djoko Siswanto sebelumnya juga mengungkapkan bahwa Pertamina harus menjadi pemegang saham mayoritas 51% di Blok Mahakam. Selain itu, Badan Usaha Milik Daerah (BUMD) juga harus memperoleh hak partisipasi Indonesia sebesar 10%. Sisanya, Pertamina boleh melepas kepemilikan sahamnya ke mitranya.

“Jadi Inpex bisa memiliki sampai 39%,” tutur Djoko. 

Meski demikian, besaran hak partisipasi yang akhirnya dimiliki Inpex akan mengacu hasil negosiasi dengan Pertamina. Seperti diketahui Pertamina telah menandatangani kontrak baru Blok Mahakam yang berlaku mulai 1 Januari 2018 pada akhir 2015 lalu. Dalam kontrak itu, perseroan menjanjikan bonus tanda tangan US$ 41 juta. Selain itu juga penerimaan-negara dari bonus produksi meliputi US$ 5 juta dari kumulatif produksi 500 juta barel setara minyak, sebesar US$ 4 juta dari kumulalif produksi 750 juta barel setara minyak, dan US$ 4 juta dari kumulatif produksi 1.000 juta barel setara minyak.

Sementara untuk rencana investasi tiga tahun pertama, Pertamina menjanjikan dana sebesar US$ 75,3 juta. Rinciannya secara berurutan US$ 1,3 juta, kemudian US$ 33,5 juta, dan US$ 40,5 juta. Saat ini, Pertamina mulai ikut mengelola Blok Mahakam untuk persiapan peralihan operator. Hal ini untuk menjaga agar produksi migas di blok tersebut tidak turun drastis.

Hingga 31 Mei lalu, produksi migas di Blok Mahakam tercatat masih di bawah target yang ditetapkan dalam APBN. Mengacu pada data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) , realisasi produksi minyak Blok Mahakam yakni 44.638 barel per hari (bph), 92,47% dari  target 48.271 bph. Sementara realisasi produksi gas hanya 932,7 million standard cubic feet per day/ mmscfd, atau 84% dari target 1.100 mmscfd. 

Blok Terminasi

Pada saat yang sama, Pertamina juga sedang memproses seleksi mitra untuk sepuluh blok migas terminasi 2018-2019 yang ditugaskan ke perseroan. Menurut Alam, perseroan kini masih menyusun kriteria dari calon mitra dan nilai dari saham yang akan dilepas di setiap blok migas. Dikatakannya perseroan akan memegang saham mayoritas. 

“Yang blok terminasi 2018-2019 mayoritas kepemilikan sahamnya. Partner sisanya,” ujar Alam.

Sebelumnya, Alam menjelaskan, proses penawaran hak partisipasi ini dimulai dari blok migas di mana production sharing contract/PSC perseroan yang sudah mulai efektif. Pasalnya, meski PSC untuk sepuluh blok migas itu sudah ditandatangani, namun kontrak belum seluruhnya berlaku efektif mengingat kontrak eksisting beberapa blok migas masih berlaku. Sehingga penawaran hak partisipasi tersebut akan dilakukan bertahap sesuai dengan efektitnya kontrak Pertamina. 

“Sudah dimulai sharedown, sedang disusun prioritasnya. Tentu yang ditawarkan yang kami sudah punya kontraknya,” kata dia.

Seperti diberitakan sebelumnya, Pertamina telah menandatangani kontrak untuk 11 blok migas yang berakhir kontraknya pada 2017-2019. Untuk blok migas terminasi 2018, Pertamina diberi hak 100% untuk delapan blok, yakni Tuban, Ogan Komering, Sanga-Sanga, Southeast Sumatera (SES), North Sumatera Offshore (NSO), East Kalimantan, Attaka, dan Tengah.

Untuk blok yang telah berakhir kontrak lamanya dan kontrak baru berlaku efektif adalah Blok Tuban, Ogan Komering, dan Attaka. Namun, pengelolaan Blok Attaka digabung dengan Blok East Kalimantan yang kontraknya akan terminasi pada 24 Oktober nanti. Selanjutnya, kontrak Blok Sanga-Sanga akan habis pada 7 Agustus, SES pada 5 September, blok Tengah pada 4 Oktober, dan NSO pada 15 Oktober.

Untuk dua blok lain yang ditugaskan ke Pertamina adalah Blok Jambi Merang dan Raja-Pendopo. Namun, kontrak eksisting kedua blok migas ini baru selesai pada tahun depan. Sehingga, kontrak Pertamina mulai efektif pada tahun depan.

Penawaran hak partisipasi blok terminasi yang sudah efektif kontrak Pertamina tersebut ditargetkan selesai tahun ini. Kami harapkan ada yang bisa

selesai tahun ini,” tegas Alam.

Djoko menuturkan, banyak perusahaan migas yang berminat membeli hak partisipasi blok terminasi yang ditawarkan oleh Pertamina. Beberapa blok migas Pertamina yang diminati perusahaan migas lain tersebut adalah Blok Mahakam, Sanga-Sanga, East Kalimantan, dan Jambi Merang.

Investor Daily, Page-9, Saturday, June 23, 2018

Four Companies Closer to Pertamina

Inpex Corporation is a strong candidate to partner with Pertamina to manage the Mahakam Block

Inpex Corporation

The selection process of partner or partner with PT Pertamina for Mahakam block managers is getting faster. This was done after Total E & P lndonesie made sure not to join the block.

Upstream Director of Pertamina Syamsu Alam said that there are at least four international companies that have openly expressed interest in joining the Mahakam block. However, Syamsu is still reluctant to detail in detail the names of companies expressing interest in joining the Mahakam block manager. Syamsu just called Inpex Corporation to be one of the enthusiasts. Currently, the discussion process of Mahakam block management is still ongoing intensively.

Mahakam Block

"But we do not know the details, we are still talking, not only Inpex, there are four companies," Syamsu said when met at the Ministry of Energy and Mineral Resources (ESDM) on Friday (22/6).

Syamsu admitted lnpex Corporation became one of the best candidates as Pertamina's partner in managing the Mahakam Block. The reason, the company from Japan has ever cooperated with Total E & P Indonesia before the management of the Mahakam block moved fully to Pertamina starting January 1, 2018 ago.

Limiting Sections

Pertamina hopes that detailed discussions on cooperation with the mitral candidate can be completed as soon as possible.

"Hopefully this year, transaction talks and others are still being discussed," said Syamsu.

Earlier, Director of Oil and Gas at the Ministry of Energy and Mineral Resources, Djoko Siswanto, said that although he seriously wants to manage the Mahakam block, it has not yet known the amount of participation rights that interest lnpex. 

    The government has decided that the maximum share down limit of Pertamina in Mahakam Block is only 39%. The decision aims to keep Pertamina as majority as the operator of the oil and gas block.

"Only up to 39%, as much as 10% is for Regional Owned Enterprises (BUMD), Pertamina must be 51%, so up to 39% can still," said Djoko.

The oil and gas company from China, Petrochina has also expressed interest in the Mahakam block. Petrochina wants a participating interest of about 15% to 20%. Referring data of SKK Migas, average oil and gas production of Mahakam block until May 2018 for gas is 951,8 mmscfd. While oil production amounted to 46,069 barrels per day (bpd).

IN INDONESIA

Empat Perusahaan Mendekat ke Pertamina

Inpex Corporation menjadi calon kuat bermitra dengan Pertamina kelola Blok Mahakam

Proses seleksi mitra atau partner dengan PT Pertamina untuk pengelola blok Mahakam semakin cepat. Hal ini dilakukan setelah Total E&P lndonesie memastikan tidak ingin bergabung mengelola blok tersebut.

Direktur Hulu Pertamina Syamsu Alam mengatakan, setidaknya sudah ada empat perusahaan bertaraf internasional yang sudah terang-terangan menyatakan minat untuk ikut mengelola blok Mahakam. 

    Namun, Syamsu masih enggan merinci secara detail nama-nama perusahaan yang menyatakan minatnya untuk bergabung menjadi pengelola blok Mahakam tersebut. Syamsu hanya menyebut Inpex Corporation menjadi salah satu dari peminat itu. Saat ini, proses pembicaraan pengelolaan blok Mahakam masih berlangsung secara intensif.

"Sedang dibicarakan. Tapi belum tahu detailnya, masih kami bicarakan. Tidak hanya Inpex, ada empat perusahaan," kata Syamsu saat ditemui di Kementerian Energi dan Sumber Daya Mineral (ESDM), Jumat (22/6).

Syamsu mengakui lnpex Corporation menjadi salah satu kandidat terbaik sebagai mitra Pertamina dalam mengelola Blok Mahakam. Pasalnya, perusahaan yang berasal dari Jepang ini pernah bekerjasama dengan Total E&P Indonesia sebelum pengelolaan Blok Mahakam berpindah secara penuh ke Pertamina mulai 1 Januari 2018 yang lalu.

Membatasi Bagian

Pertamina berharap, pembicaraan detail kerjasama dengan calon mitral bisa selesai secepatnya. 

"Mudah-mudahan tahun ini. Pembicaraan transaksi dan lain-lain masih terus dibicarakan," ujar Syamsu.

Sebelumnya, Direktur Migas Kementerian ESDM Djoko Siswanto mengatakan, walau serius ingin mengelola Blok Mahakam, tetapi belum diketahui besaran hak partisipasi yang diminati lnpex. 

     Pemerintah memutuskan batas maksimal share down yang boleh dilakukan Pertamina di Blok Mahakam hanya sebesar 39%. Keputusan tersebut bertujuan agar Pertamina tetap menjadi mayoritas sebagai operator blok migas tersebut.

"Hanya bisa sampai 39%, sebanyak 10% adalah untuk Badan Usaha Milik Daerah (BUMD), Pertamina harus 51%. Jadi sampai 39% masih bisa," jelas Djoko.

Perusahaan migas yang berasal China yaitu Petrochina juga telah menyatakan minat di Blok Mahakam. Petrochina menginginkan hak partisipasi sekitar 15% sampai 20%. Mengacu data SKK Migas, rata-rata produksi migas blok Mahakam hingga Mei 2018 untuk gas sebesar 951,8 mmscfd. Sementara produksi minyak sebesar 46.069 barel per hari (bph).

Kontan, Page-14, Saturday, June 23, 2018

Pertamina Continue to Search for Partners

PT Pertamina (Persero) is processing prospective partners on several oil and gas blocks granted by the government such as Mahakam, 2018 termination block and termination block 2019. This government-owned company is targeting an existing partner search process completed this year.

Upstream Director of Pertarnina Syamsu Alam said the search process of partners is still in process. A total of six 2018 terminated oil and gas blocks and 2 blocks of termination oil and gas are in the evaluation phase.

"We are evaluating to determine the criteria of partners and the sale value of the ownership shares of oil and gas blocks. At 8 termination blocks 2018 and 2019, we have committed to keep the majority share of the shares, "he said on Friday (22/6).

Six 2018 oil and gas blocks terminated by Pertamina include Tuban, Ogan Komering, Sanga-sanga, Southeast Sumatra, North Sumatra Offshore and Attaka & East Kalimantan. Then, two blocks of oil and gas termination 2019 is Jambi Merang & Pendopo Raja.

Termination Blocks

The Ministry of Energy and Mineral Resources noted that Pertamina will seek partners on 4 termination blocks granted by the government. The four blocks are, Mahakam, Attaka & East Kalimantan, Sanga-sanga, and Jambi Merang. Special Sanga-sanga, Plt. Pertamina President Director Nicke Widyawati said the company is evaluating potential partners in the block previously managed by VICO Indonesia and PT Saka Energi Indonesia.

"We are also reviewing whether Saka will return to Sanga-sanga as Pertamina's partner or not," he said.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto mentioned that some operators exist in the termination block is indeed interested to return such as Repsol S.A and Pacific Oil in Jambi Merang Block. Saka also has an opportunity to return to Sanga-sanga.

"In addition, the Attaka & East Kalimantan Block also has many enthusiasts from the private sector," he said.

The Mahakam Block

MAHAKAM BLOCK

Meanwhile, Pertamina noted that there are five potential partners of the company in Mahakam block. Syamsu said that Inpex is one of those interested to re-participate in Mahakam, while Total lndonesie, the operator of Mahakam before being taken over by Pertamina is not interested in returning to the block in the area of ​​Borneo.

"In addition to Inpex, there are four other multinational companies that are also interested in becoming our partners in the Mahakam Block. However, it is unethical to mention name is now, "he said.

Syamsu Alam said, is currently in the process of further discussion with potential partners. The Company expects the transaction to be completed sooner. We hope to finish this year, he said.

lnpex Corporation

Senior Specialist Media Relations of lnpex Corporation Mochammad. N Kurniawan said that Inpex is still discussing with the Indonesian government and Pertamina to participate in the new Mahakam Block Production Sharing Contract (PSC) since 2018.

"Our position is still the same that is interested to participate there [Mahakam Block]," he said.

Pertamina plans to become the majority owner in the Mahakam Block which means a minimum of 51% ownership. That means the five potential partners will compete for 39% ownership in the Mahakam Block because the remaining 10% must be given to the Regional Government.

Total Indonesie has reason not to return to Mahakam, because the French company was asked to pay the amount of Mahakam Block shares to Pertamina. Total wants the shares to be given free of charge as existing operators in the Mahakam Block. Mahakam Block production until May 31, 2018 was recorded at 44,638 barrels per day.

IN INDONESIA

Pertamina Terus Mencari Mitra

PT Pertamina (Persero) sedang memproses calon mitra pada beberapa blok migas yang diberikan pemerintah seperti Mahakam, blok terminasi 2018, dan blok terminasi 2019. Perusahaan milik pemerintah ini menargetkan proses pencarian mitra sudah ada yang rampung tahun ini.

Direktur Hulu Pertarnina Syamsu Alam mengatakan, proses pencarian mitra masih dalam proses. Sebanyak enam Blok migas terminasi 2018 dan 2 blok migas terminasi 2019 sedang dalam tahap evaluasi.

“Kami sedang mengevaluasi untuk menentukan kriteria mitra dan nilai penjualan saham kepemilikan blok migas tersebut. Pada 8 blok terminasi 2018 dan 2019, kami sudah berkomitmen untuk menjaga bagian saham tetap mayoritas,” ujarnya, pada Jumat (22/6).

Enam blok migas terminasi 2018 yang didapatkan Pertamina antara lain, Tuban, Ogan Komering, Sanga-sanga, Southeast Sumatra, North Sumatra Offshore, dan Attaka & East Kalimantan. Lalu, dua blok migas terminasi 2019 adalah Jambi Merang & Pendopo Raja.

Kementerian Energi dan Sumber Daya Mineral mencatat, Pertamina akan mencari mitra pada 4 blok terminasi yang diberikan pemerintah. Empat blok itu adalah, Mahakam, Attaka & East Kalimantan, Sanga-sanga, dan Jambi Merang. Khusus Sanga-sanga, Plt. Direktur Utama Pertamina Nicke Widyawati mengatakan, perseroan sedang mengevaluasi calon mitra di blok yang sebelumnya dikelola oleh VICO Indonesia dan PT Saka Energi Indonesia.

“Kami juga sedang mengkaji apakah Saka akan kembali ke Sanga-sanga sebagai mitra Pertamina atau tidak," ujarnya.

Dirjen Migas Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto sempat menyebutkan, beberapa operator eksis di blok terminasi itu memang tertarik untuk kembali seperti, Repsol S.A dan Pacific Oil di Blok Jambi Merang. Saka juga ada peluang kembali ke Sanga-sanga.

“Selain itu, Blok Attaka & East Kalimantan juga punya banyak peminatnya dari pihak swasta,” ujarnya.

BLOK MAHAKAM

Sementara itu, Pertamina mencatat sudah ada lima calon mitra perseroan di Blok Mahakam. Syamsu mengatakan, Inpex menjadi salah satu yang tertarik untuk kembali berpartisipasi di Mahakam, sedangkan Total lndonesie, operator Mahakam sebelum di ambil alih oleh Pertamina sudah tidak tertarik kembali ke blok di daerah Kalimantan tersebut.

“Selain Inpex, ada empat perusahaan multinasional lainnya yang juga tertarik untuk menjadi mitra kami di Blok Mahakam. Namun, tidak etis kalau disebutkan

namanya sekarang,” ujarnya.

Syamsu Alam mengatakan, saat ini masih dalam proses pembicaraan lebih lanjut dengan para calon mitra. Perseroan berharap transaksi bisa selesai lebih cepat. Kami berharap bisa selesai tahun ini ujarnya.

Senior Specialist Media Relations lnpex Corporation Mochammad. N Kurniawan mengatakan, lnpex masih terus berdiskusi dengan pemerintah Indonesia dan Pertamina untuk berpartisipasi dalam Production Sharing Contract (PSC) Blok Mahakam yang baru sejak 2018.

“Posisi kami masih tetap sama yakni berminat berpartisipasi di sana [Blok Mahakam],” ujarnya.

Pertamina berencana menjadi pemilik mayoritas di Blok Mahakam yang berarti minimal kepemilikan 51%. Hal itu berarti lima calon mitra itu akan memperebutkan 39% kepemilikan di Blok Mahakam karena 10% sisanya wajib diberikan kepada Pemerintah Daerah.

Total Indonesie memiliki alasan untuk tidak kembali ke Mahakam, karena perusahaan Prancis itu diminta membayar jumlah saham Blok Mahakam kepada Pertamina. Total menginginkan bagian saham itu diberikan secara gratis selaku operator existing di Blok Mahakam. Produksi Blok Mahakam sampai 31 Mei 2018 tercatat sebesar 44.638 barel per hari.

Bisnis Indonesia, Page-10, Saturday, June 23, 2018

Pertamina Ready to Start SES Block

PT Pertamina (Persero) through its subsidiary, PT Pertamina Hulu Energi, is ready to take over the management of the Southeast Sumatra Block (SES) which ends its contract on 5 September. Pertamina will try to boost the production of this block.

Upstream Director of Pertamina Syamsu Alam said the transition process of the SES Block is now underway. Pertamina continues to evaluate, namely the condition of the surface of the soil (surface) and underground (subsurface), to arrange work programs. The reason, one of the concerns of the company is the level of oil and gas production from the block off the coast of South Sumatra.

"The first step is to reduce the decline before it can increase production. Because all age-terminated blocks are mature, it is not easy to increase production without seeing upside potential as an effort to increase reserves, "he said in Jakarta on Thursday (21/6).

Currently, the SES Block is still managed by CNOOC SES Ltd with its partners until September 5th. However, Pertamina has signed a new contract on 20 April. At the time of signing a production sharing contract (PSC), Pertamina promised the first three year investment commitment of US $ 130 million. Referring to the Decree of the Minister of Energy and Mineral Resources (ESDM) regarding the determination of 2018 termination block management, Pertamina is projected to spend US $ 13 million.

The activities that will be carried out in this first year are GGRP / flow unit study, enhanced oil recovery (EOR) study, 5 well water injection conversion, and 7 well workover. In the second year, the investment will be US $ 56 million. This fund will be used for 5 well water injection conversion, 3D / 4D 200 square kilometer seismic, 3 well infill drilling, 5 well well workover, and 2 well field reactivation. In the third year, investments amounting to US $ 61 million, namely for water injection conversion 5 wells, infill drilling 3 wells, workover 5 wells, 3 well yield reactivation, and 4 pilot EOR pilots.

In relation to the exact activities that PHE will undertake this year, PHE Development Director Atif Saifudin said that his side would have to drill the well. This is to maintain oil and gas production in the SES Block. Currently, oil and gas production of the block is recorded at around 30 thousand barrels of oil equivalent per day / BOEPD. Unfortunately, he can not specify how many wells will be drilled.

"Because the drilling plan is divided into several years. We are selective too, if the field is not production we close yes, "he said.

In managing the SES Block, Afif revealed that it opens opportunities for other oil and gas companies to join as partners. However, the selection and determination of this partner is the authority of Pertamina as the holding company. As far as it has not got a partner for the SES Block.

Termination Blocks

Of the eight 2018 termination blocks granted to Pertamina, PHE was tasked with managing four oil and gas blocks namely Tuban Block, Ogan Komering, Southeast Sumatra and North Sumatra Offshore. 

     PHE has managed to take over the management of the Tuban and Ogan Komering Blocks on May 20th. While in North Sumatra Offshore Block there is no need for transition because the block is currently managed by PHE. In these two blocks, PHE will spend US $ 42.25 million in Tuban Block and US $ 23.3 million in Ogan Komering Block in the first three years.

IN INDONESIA

Pertamina Siap Mulai Kelola Blok SES

PT Pertamina (Persero) melalui anak usahanya, PT Pertamina Hulu Energi, siap mengambil alih pengelolaan Blok Southeast Sumatera (SES) yang berakhir kontraknya 5 September nanti. Pertamina akan berupaya untuk menggenjot produksi blok ini. 

Direktur Hulu Pertamina Syamsu Alam mengatakan, proses transisi pengelolaan Blok SES saat ini sudah dimulai. Pertamina terus melakukan evaluasi, yaitu kondisi muka tanah (surface) maupun bawah tanah (subsurface), untuk menyusun program kerja. Pasalnya, salah satu yang menjadi perhatian perseroan adalah tingkat produksi migas dari blok di lepas pantai Sumatera Selatan ini.

“Langkah awal adalah upaya-upaya untuk mengurangi decline sebelum nantinya mampu meningkatkan produksi. Karena semua blok yang terminasi umurnya memang sudah tua (mature field) jadi tidak mudah untuk meningkatkan produksi tanpa melihat upside potential sebagai upaya penambahan cadangan,” kata dia di Jakarta, Kamis (21/6).

Saat ini, Blok SES masih dikelola oleh CNOOC SES Ltd bersama mitranya hingga 5 September nanti. Namun, Pertamina telah meneken kontrak baru pada 20 April lalu. Pada saat menandatangani kontrak kerja sama (production sharing contract/ PSC), Pertamina menjanjikan komitmen investasi tiga tahun pertama sebesar US$ 130 juta. Mengacu pada Keputusan Menteri Energi dan Sumber Daya Mineral (ESDM) tentang penetapan pengelolaan blok terminasi 2018, Pertamina diproyeksikan akan mengeluarkan dana sebesar US$ 13 juta.

Kegiatan yang akan dilakukan pada tahun pertama ini yakni GGRP/flow unit study, studi pengurasan migas tahap lanjut (enhanced oil recovery/ EOR), water injection conversion 5 sumur, serta workover 7 sumur. Selanjutnya di tahun kedua, investasi yang akan dikeluarkan sebesar US$ 56 juta. 

     Dana ini akan dihunakan untuk water injection conversion 5 sumur, seismik 3D/ 4D 200 kilometer persegi, infill drilling 3 sumur, workover 5 sumur, dan field reactivation 2 sumur. Pada tahun ketiga, investasi yang dikeluarkan sebesar US$ 61 juta, yakni untuk water injection conversion 5 sumur, infill drilling 3 sumur, workover 5 sumur, yield reactivation 3 sumur, dan EOR pilot 4 area.

Terkait kegiatan apa saja pastinya yang akan dikerjakan PHE tahun ini, Direktur Pengembangan PHE Atif Saifudin menuturkan, pihaknya pasti akan melakukan pengeboran sumur. Hal ini untuk mempertahankan produksi migas di Blok SES. Saat ini, produksi migas blok tersebut tercatat sekitar 30 ribu barel setara minyak per hari/BOEPD. Sayangnya, dia tidak dapat merinci berapa banyak sumur yang akan dibor. 

“Karena rencana pengeboran dibagi beberapa tahun. Kami selektif juga, kalau lapangan sudah tidak produksi ya kami tutup," tutur dia. 

Dalam mengelola Blok SES, Afif mengungkapkan bahwa pihaknya membuka peluang untuk perusahaan migas lain bergabung sebagai mitra. Namun, pemilihan dan penentuan mitra ini merupakan wewenang Pertamina sebagai induk perusahaan. Sejauh pihaknya belum mendapat mitra untuk Blok SES.

Dari delapan blok terminasi 2018 yang diberikan ke Pertamina, PHE mendapat tugas mengelola empat blok migas yakni Blok Tuban, Ogan Komering, Southeast Sumatera, dan North Sumatera Offshore. PHE telah berhasil mengambil alih pengelolaan Blok Tuban dan Ogan Komering pada 20 Mei lalu. 

     Sementara di Blok North Sumatera Offshore tidak perlu ada transisi karena blok tersebut saat ini juga dikelola PHE. Di dua blok ini, PHE akan mengeluarkan dana sebesar US$ 42,25 juta di Blok Tuban dan US$ 23,3 juta di Blok Ogan Komering pada tiga tahun pertama.

Investor Daily, Page-9, Friday, June 22, 2018

Six Companies Interested in Auction of Oil and Gas Blocks

The Ministry of Energy and Mineral Resources (ESDM) noted that six oil and gas companies are interested to take five of the 19 conventional oil and gas blocks offered through this year's regular auction.

Director of Upstream Oil and Gas Upstream Business Development of the Ministry of Energy and Mineral Resources, Ediar Usman, said that the bidding limit of tender participation documents has been extended until July 3. Until before the holiday Eid al-Fitr, then it noted as many as six companies have included documents of participation.

"There are 5 WK (Working Areas / oil and gas blocks) that are in demand, if the company may have 6 companies," he said in Jakarta, not long ago. Of the 5 oil and gas blocks, one oil and gas block is in demand by two companies at once.

In its official announcement, the government announced the extension of an oil and gas block auction due to the limit of document submission on June 19, 2018 along with the long holiday of Eid al-Fitr. 

      Thus, the limit on access to the regular auction document of the oil and gas block was changed to June 26, 2018. While the deadline for submission of the tender participation documents was revised to July 3. Previously, access to documents was limited to 7 June and the filing of documents on June 19.

As is known, the government auctioned 26 blocks of oil and gas in the year, namely through direct offers and regular auctions. For four of the five oil and gas blocks auctioned through direct deals, the government has set a winner in early May.

The East Ganal Block was won by Eni Indonesia Ltd, East Seram by Lion Energy Ltd, Southeast Jambi by Talisman West Bengara BV-MOECO South Sumatra Co Ltd, and Citarum by PT Cogen Nusantara Energi and PT Green World Nusantara. As for oil and gas blocks that are still in the process of regular auction there are 19 blocks.

In detail, South CPR Nibung Block, Batu Gajah Dua, Air Komering, West Bukit, East Sokang, Banyumas, East Muriah, North Kangean, Andika Bumi Kita, Belayan, West Sanga-sanga, Suremana I, Southeast Mahakam, Manukra Mamuju, Karaeng, Ebuny, West Berau, and Cendrawasih Bay II. At the auction of this oil and gas block the government set a minimum investment commitment and signature bonus that must be met by investors.

In every oil and gas block, minimum investment commitment requested on average in the form of geological and geophysical (G & G) and seismic studies, only 12 oil and gas blocks are required to drill one exploration well. As for the average signature bonus is set at least US $ 500 thousand.

Not only that, Ediar also revealed there are oil and gas companies who are interested in joint study of oil and gas blocks. To date, five companies have submitted joint study proposals.

"It has been submitted but not yet approved, we must check first," he said.

IN INDONESIA

Enam Perusahaan Minati Lelang Blok Migas

Kementerian Energi dan Sumber Daya Mineral (ESDM) mencatat sebanyak enam perusahaan migas berminat mengambil lima dari 19 blok migas konvensional yang ditawarkan melalui lelang reguler tahun ini.

Direktur Pembinaan Usaha Hulu Minyak dan Gas Bumi Kementerian ESDM Ediar Usman menuturkan, batas pemasukkan dokumen partisipasi lelang telah diperpanjang hingga 3 Juli nanti. Sampai sebelum libur Hari Raya Idul Fitri lalu, pihaknya mencatat sebanyak enam perusahaan telah memasukkan dokumen partisipasi.

“Ada 5 WK (Wilayah kerja/blok migas) yang diminati, kalau perusahaannya mungkin ada 6 perusahaan,” kata dia di Jakarta, belum lama ini. Dari 5 blok migas tersebut, satu blok migas ada yang diminati oleh dua perusahaan sekaligus.

Dalam pengumuman resminya, pemerintah mengumumkan perpanjangan lelang blok migas karena batas pemasukkan dokumen pada 19 Juni 2018 bersamaan dengan libur panjang Hari Raya Idul Fitri. Sehingga, batas akses dokumen lelang reguler blok migas tersebut diubah menjadi 26 Juni 2018. Sementara batas akhir pemasukan dokumen partisipasi lelang direvisi menjadi 3 Juli. Sebelumnya, akses dokumen dibatasi sampai 7 Juni dan pemasukkan dokumen pada 19 Juni. 

Seperti diketahui, pemerintah melelang 26 blok migas pada tahun, yakni melalui penawaran langsung dan lelang reguler. Untuk empat dari lima blok migas yang dilelang melalui penawaran langsung, pemerintah telah menetapkan pemenang pada awal Mei lalu.

Rincinya, Blok East Ganal dimenangkan oleh Eni Indonesia Ltd, East Seram oleh Lion Energy Ltd, Southeast Jambi oleh Konsorsium Talisman West Bengara BV-MOECO South Sumatra Co Ltd, serta Citarum oleh PT Cogen Nusantara Energi dan PT Green World Nusantara. Sementara untuk blok migas yang masih dalam proses lelang reguler terdapat 19 blok. 

Rincinya, Blok South CPR Nibung, Batu Gajah Dua, Air Komering, Bukit Barat, East Sokang, Banyumas, East Muriah, North Kangean, Andika Bumi Kita, Belayan, West Sanga-sanga, Suremana I, Southeast Mahakam, Manakarra Mamuju, Karaeng, Ebuny, West Berau, dan Cendrawasih Bay II. Pada lelang blok migas ini pemerintah mengatur minimal komitmen investasi dan bonus tanda tangan yang harus dipenuhi investor. 

Di setiap blok migas, minimal komitmen investasi yang diminta rata-rata berupa studi geologi dan geofisika (G&G) dan seismik, hanya 12 blok migas yang diminta ada pengeboran masing-masing satu sumur eksplorasi. Sementara untuk bonus tanda tangan rata-rata ditetapkan minimal US$ 500 ribu.

Tidak hanya itu, Ediar mengungkapkan juga terdapat perusahaan migas yang berminat melakukan studi bersama (joint study) blok migas. Sampai saat ini, lima perusahaan telah mengajukan proposal joint study.

“Sudah diajukan tetapi belum disetujui, kami harus cek dulu,” ujar dia.

Investor Daily, Page-9, Friday, June 22, 2018