5 Large Contractors Don't Reach the Target

Not achieving the target of oil lifting of five contractors The big cooperation contract (KKKS) has also been holding back the achievement of national oil lifting which is still below the 2018 National Budget (APBN) target.

Until September 2018, the realization of petroleum lifting in the third quarter of 2018 recorded 774,000 bopd (barrels of oil per day) or 97% of the target of 800,000 bopd. From the national lifting realization, five large contractors of cooperation contracts (KKKS) contributed 73% of total production.

The five KKKS are PT Chevron Pacific Indonesia, PT ExxonMobil Cepu Ltd. (EMCL), PT Pertamina EP, PT Pertamina Hulu Mahakam and PHE OSES in the Southeast Sumatra Block (SES). Head of SKK Migas Program and Communication Division Wisnu Prabawa Taher said there were still some obstacles in oil production.

Especially for the Rokan Block with PT CPI operators, it is known that there are still technical effects and obstacles to the pipeline in the production facilities. And the 2018 APBN target is 213,551 barrels per day, PT CPI produces 210,582 barrels per day (bpd).

"But this obstacle has been addressed. Regarding monitoring, SKK Migas is always carried out, including supervision of KKKS operations, "he said, Monday (8/10).

Production constraints were also experienced by Medco E & P Natuna whose drilling results had not met expectations and drilling needed to be rescheduled. PT Pertamina EP as well. The drilling results are still below expectations, while Pertamina Hulu Mahakam (PHM) is experiencing drilling delays due to rig problems. Until the end of the year the average oil and gas lifting performance is estimated to only reach 95% or 1.91 million barrels of oil equivalent per day (BOEPD).

"In the upstream oil and gas sector, it is common, the drilling results can be different from the target, because what is taken is deep in the bowels of the earth," Wisnu said

He stressed the difficulty of achieving the target can be understood considering the main upstream oil and gas field has been operating on average since 1970-1980 with high water cut content. 

     In addition, the pressure is not as good as at the beginning of the production period, so it becomes a challenge in production operations while keeping reserves optimally taken to the surface. According to SKK Migas data as of September 30, 2018, the realization of oil and gas lifting amounted to 1.92 million BOEPD. This achievement is only 96% of the 2018 State Budget target set at 2 million BOEPD.

Separately, ESDM Deputy Minister Arcandra Tahar acknowledged that the realization of oil and gas lifting had not reached the target, particularly the oil sector. Unfortunately, Arcandra is reluctant to accept the government's efforts to encourage increased oil lifting. On the other hand, not achieving the national oil lifting target can be triggered by the KKKS's consideration in measuring production prices or economic level.

TECHNICAL CONSIDERATIONS

Executive Director of Reforminer Institute Komaidi Notonegoro said technical considerations could also affect the natural decline of an oil well. According to him, technical constraints not only refer to production equipment, but also natural factors from oil fields that are mostly in Indonesia.

"There is no other way, besides finding new reserves."

According to him, the KKKS's steps to encourage production according to the 2018 State Budget target may be achieved, but at the expense of production costs. Naturally, then the contractor's choice does not maximize production due to economic affairs.

This includes also what PT Chevron Pacific Indonesia did when it did not increase investment to boost production quantity. "Psychologically everything will be like that, if it still fulfills their economy. If CPI only optimizes its business, "Komaidi said.

IN INDONESIAN

5 Kontraktor Besar Tidak Capai Target

Tidak tercapainya target lifting minyak lima kontraktor Kontrak kerja sama (KKKS) besar ikut menahan pencapaian lifting minyak nasional yang masih dibawah target Anggaran Pendapatan Belanja Nasional (APBN) 2018.

Hingga September 2018, realisasi lifting minyak bumi pada kuartal III/2018 tercatat 774.000 bopd (barrels of oil per day) atau 97% dari target 800.000 bopd. Dari realisasi lifting nasional tersebut, lima kontraktor kontrak kerja sama (KKKS) besar berkontribusi 73% total produksi.

Lima KKKS tersebut yakni PT Chevron Pasific Indonesia, PT ExxonMobil Cepu Ltd., PT Pertamina EP, PT Pertamina Hulu Mahakam dan PHE OSES di Blok Southeast Sumatra (SES). Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengatakan masih ada beberapa kendala dalam produksi minyak.

Khusus untuk Blok Rokan dengan operator PT CPI diketahui masih ada efek dan kendala teknis pipa di fasilitas produksi. Dan target APBN 2018 sebesar 213.551 barel per hari, PT CPI memproduksi 210.582 barel per hari (bph). 

“Tapi kendala ini sudah tertangani. Terkait monitoring, selalu dilakukan oleh SKK Migas, termasuk pengawasan ke operasi KKKS,” ujarnya, Senin (8/10).

Kendala produksi juga dialami oleh Medco E&P Natuna yang hasil pengeborannya belum sesuai ekspektasi dan pemboran perlu dijadwal ulang. PT Pertamina EP demikian pula. Hasil pengeborannya masih dibawah ekspektasi, sementara Pertamina Hulu Mahakam (PHM) mengalami penundaan pengeboran karena masalah rig. Hingga akhir tahun rata-rata capaian lifting migas diperkirakan hanya mencapai 95% atau 1,91 juta barel setara minyak per hari (BOEPD).

“Dalam hulu migas, sudah lazim, hasil pemboran bisa berbeda dengan target, karena yang diambil berada jauh di dalam perut bumi,” ujar Wisnu.

Dia menekankan sulitnya mencapai target dapat dipahami mengingat lapangan hulu migas yang utama rata-rata sudah beroperasi sejak 1970-1980 dengan kandungan water cut yang  tinggi. 

     Selain itu, tekanannya sudah tidak sebaik di awal periode produksi, sehingga menjadi tantangan tersendiri dalam operasi produksi sekaligus menjaga agar cadangan dapat optimal diambil ke permukaan. Menurut data SKK Migas per 30 September 2018, realisasi lifting migas sebesar 1,92 juta BOEPD. Capaian ini baru 96% dari target APBN 2018 yang ditetapkan sebesar 2 juta BOEPD.

Terpisah, Wakil Menteri ESDM Arcandra Tahar mengakui realisasi lifting migas belum mencapai target, khususnya dan sektor minyak. Sayangnya, Arcandra enggan mennci upaya pemerintah untuk mendorong peningkatan lifting minyak. Disisi lain, tidak tercapainya target lifting minyak nasional dapat dipicu oleh pertimbangan KKKS dalam mengukur harga produksi atau tingkat keekonomian.

PERTIMBANGAN TEKNIS

Direktur Eksekutif Reforminer Institute Komaidi Notonegoro mengatakan pertimbangan teknis juga dapat mempengaruhi penurunan alamiah dari sebuah sumur minyak. Menurutnya, kendala teknis tidak hanya mengacu pada peralatan produksi, tetapi juga faktor alami dari lapangan minyak yang sebagian tua di Indonesia. 

“Memang tidak ada cara lain, selain mencari cadangan baru.”

Menurut dia, langkah KKKS untuk mendorong produksi sesuai target APBN 2018 mungkin dapat tercapai, tetapi dengan mengorbankan biaya produksi. Wajar bila kemudian pilihan kontraktor tidak memaksimalkan produksi karena urusan keekonomian.

Hal ini termasuk juga yang dilakukan oleh PT Chevron Pasific Indonesia ketika tidak meningkatkan investasi untuk mendorong kuantitas produksi. “Secara psikologis semua akan begitu, sekiranya masih memenuhi keekonomian mereka. Kalau CPI hanya mengoptimalkan bisnisnya,” kata Komaidi. 

Bisnis Indonesia, Page-3, Wednesday, Oct 10, 2018

Government Accelerates Gas Projects

The government will accelerate the construction of gas field projects which are the mainstay of supply in the next 10 years. Based on Indonesia's 2018-2017 Natural Gas Balance, gas lifting is projected at 7,452 million standard cubic feet per day / mmscfd. Furthermore, gas lifting is expected to reach a peak of 8,661 mmsfd in 2022, then again down to 8,048 mmscfd in 2027.

To achieve the gas lifting projection, there is a mainstay gas project that is a source of supply. In particular, two fields are projected operating this year, namely Siwah, Rambong, and Julu Rayeu Fields, which were carried out by Medco E & P Indonesie, and the MDA-MBH and MDK Fields. by Husky CNOOC Madura Limited (HCML).

Furthermore, next year, there is the Jambaran-Tiung Biru Project by PT Pertamina EP Cepu (PEPC), as well as the Badik and West Badik Fields by PT Pertamina Hulu Energi Nunukan.

The Train-3 Tangguh Refinery Project by BP Berau Limited is targeted to begin increasing domestic gas supply by 2020.

Next, in 2021, the Merakes Field by ENI East Sepinggan and the Kido Merah Smoke Field by Genting Oil will begin production.

The Indonesia Deepwater Development (IDD) project consisting of Gendalo, Gandang and Gehem Fields by Chevron Indonesia Company began operations in 2022.

Finally, in 2027, the Abadi Field by Inpex Masela and East Natuna by PT Pertamina (Persero) are projected to begin production.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the development of these projects would be accelerated.

"Want as fast as POD (plan of development / development plans) are forced to enter quickly," he said in Jakarta

the Abadi Field, the Masela Block

This includes the development of the Abadi Field, the Masela Block, which has not been included in the development plan. Inpex as the operator of this block should have completed the concept of pre-front end engineering design (Pre-FEED) in September.

"This is again forced (POD). We will call later, "said Arcandra.

Indonesia's average natural gas production over the past five years was recorded at 7,997 mmscfd. The trend of production over the past five years is lower than the previous period which reached 8,130 mmscfd in 2013 and to 7,620 mmscfd in 2017. From the production of natural gas, there are 8% losses that are implicit, gas flaring, and own use so that the lifting realization in 2017 amounting to 6,607.65 mmscfd. Of the natural gas lifting, 58.59% was used for domestic use and 41.41% was exported.

IDD Project

Regarding the IDD Project, Arcandra said Chevron Indonesia had included a proposal revision.

"A proposal that at that time had additional information already entered and was being reviewed by the Oil and Gas-SKKK," he said in Jakarta.

Chevron must re-submit the proposal due to changes in the IDD Project. From the beginning there were three blocks in this project, it was agreed that only the Ganal and Rapak Blocs would still enter this project. While the Makassar Strait Block was excluded from the project and has been auctioned by the government. 

    With the issuance of the Makassar Strait Block, the Chevron IDD Project will later combine four fields, namely the Bangka, Gehem, Gendalo and Gandang Fields. Bangka Field has been in production since August 2016 and produces eight liquefied natural gas (LNG) cargoes shipped from the Bontang LNG Terminal.

IN INDONESIAN

Pemerintah Percepat Proyek Gas

Pemerintah akan mempercepat pengerjaan proyek lapangan gas yang menjadi andalan pasokan dalam 10 tahun mendatang. Berdasarkan Neraca Gas Bumi Indonesia 2018-2017, lifting gas diproyeksikan sebesar 7.452 million standard cubic feet perday/mmscfd. Selanjutnya, lifting gas diperkirakan akan mencapai puncaknya 8.661 mmsfd pada 2022, kemudian kembali turun menjadi 8.048 mmscfd pada 2027.

Untuk mencapai proyeksi lifting gas tersebut, terdapat proyek gas andalan yang menjadi sumber pasokan. Rincinya, dua lapangan diproyeksikan

beroperasi tahun ini, yakni Lapangan Alur Siwah, Rambong, dan Julu Rayeu yang dikerjakan Medco E&P Indonesie, serta Lapangan MDA-MBH dan MDK

oleh Husky CNOOC Madura Limited (HCML).

Selanjutnya, pada tahun depan, terdapat Proyek Jambaran-Tiung Biru oleh PT Pertamina EP Cepu, serta Lapangan Badik dan West Badik oleh PT Pertamina Hulu Energi Nunukan. 

Proyek Kilang Tangguh Train-3 oleh BP Berau Limited ditargetkan mulai menambah pasokan gas domestik pada 2020. 

Berikutnya, di 2021, Lapangan Merakes oleh ENI East Sepinggan dan Lapangan Asap Kido Merah oleh Genting Oil akan mulai produksi. 

Proyek Indonesia Deepwater Development (IDD) yang terdiri dari Lapangan Gendalo, Gandang, dan Gehem oleh Chevron Indonesia Company mulai beroperasi pada 2022. 

Terakhir, pada 2027, Lapangan Abadi oleh lnpex Masela dan East Natuna oleh PT Pertamina (Persero) diproyeksikan mulai berproduksi.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, pengembangan proyek-proyek tersebut akan dipercepat. 

“Mau secepat cepat POD (plan of development/rencana pengembangan) dipaksa cepat masuk,” katanya di Jakarta

Hal ini termasuk untuk pengembangan Lapangan Abadi, Blok Masela yang belum juga dimasukkan rencana pengembangannya. Inpex sebagai operator blok ini seharusnya telah merampungkan konsep kelayakan keteknikan dan desain (pre front end engineering design/ Pre-FEED) pada September lalu.

“Ini lagi dipaksa (POD). Nanti kami panggil,” ujar Arcandra.

Rata-rata produksi gas bumi Indonesia selama lima tahun terakhir tercatat sebesar 7.997 mmscfd. Trend produksi selama lima tahun terakhir ini, lebih rendah dari periode sebelumnya yang mencapai 8.130 mmscfd di 2013 dan menjadi 7.620 mmscfd di 2017. Dari produksi gas bumi tersebut, terdapat 8% losses yang bertipa impuritis, gas suar bakar, dan pengunaan sendiri sehingga realisasi lifting pada 2017 sebesar 6.607,65 mmscfd. Dari lifting gas bumi tersebut, sebanyak 58,59% dimanfaatkan untuk domestik dan 41,41% diekspor.

Proyek IDD 

Terkait Proyek IDD, Arcandra menuturkan Chevron Indonesia telah memasukkan revisi proposalnya. 

“Proposal yang waktu itu ada tambahan informasi sudah masuk dan sedang di review oleh -SKK Migas,” kata dia di Jakarta.

Chevron harus mengajukan kembali proposal karena adanya perubahan dalam Proyek IDD. Dari awalnya terdapat tiga blok dalam proyek ini, telah disepakati bahwa hanya Blok Ganal dan Rapak yang tetap masuk proyek ini. Sementara Blok Makassar Strait dikeluarkan dari proyek dan telah dilelang pemerintah. 

    Dengan dikeluarkannya Blok Makassar Strait, maka Proyek IDD Chevron nantinya menggabungkan empat lapangan, yakni Lapangan Bangka, Gehem, Gendalo, dan Gandang. Lapangan Bangka telah berproduksi sejak Agustus 2016 dan menghasilkan delapan kargo gas alam cair (liquefied natural gas/LNG) yang dikapalkan dari Terminal LNG Bontang.

Investor Daily, Page-9, Tuesday, Oct 9, 2018

Oil and Gas Contractors Are Not Required to Use L/C

The Government decided to exclude the use of Letter of credit (L / C) for oil and gas contractors who export oil and gas (oil and gas). Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM), Djoko Siswanto said, in the attachment of the Minister of Trade Regulation No. 94 of 2018 concerning Provisions on the Use of Letter of Credit for Export of Certain Goods, oil and gas exports are not required to use L / C.

This is because the oil and gas industry has used a bank guarantee, aka standby letter of credit (SBLC).

"The oil and gas industry is not obliged to use, contractors have used the SBLC, yes," he said.

According to Djoko, the oil and gas industry has always used SBLC in oil and gas transactions. That way, the industry no longer needs to use L / C because the principle is the same.

"Some say L / C is a guarantee. Well, that's why this is a problem of definition, understanding, even though it's the same. In the world of oil and gas, the L / C has entered the SBLC," Djoko added.

The oil and gas industry already has its own mechanism for oil and gas exports. Some related regulations include Bank Indonesia Regulation (PBI) Number 16/10 / PBI / 2014 and PBI Number 17/20 / PBI / 2014.

Previously, oil and gas contractors were preoccupied with the obligation to sell oil to PT Pertamina. However, the regulation on the obligation to sell oil is still constrained by the Minister of Finance Regulation regarding 3% tax for Cooperation Contract Contractors (KKKS) who sell oil to domestic.

IN INDONESIA

Kontraktor Migas Tidak Wajib Menggunakan L/C

Pemerintah memutuskan untuk mengecualikan penggunaan Letter of credit (L/C) bagi kontraktor migas yang mengekspor minyak dan gas (migas). Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM), Djoko Siswanto mengatakan, dalam lampiran Peraturan Menteri Perdagangan Nomor 94 Tahun 2018 tentang Ketentuan Penggunaan Letter of Credit untuk Ekspor Barang Tertentu, tidak disebutkan ekspor migas wajib menggunakan L/C.

Hal tersebut karena industri migas sudah menggunakan bank garansi alias standby letter of credit (SBLC). 

“Industri migas sudah tidak wajib menggunakan , kontraktor sudah menggunakan SBLC, ya sudah,” ujar dia.

Menurut Djoko, industri migas sudah sejak dahulu menggunakan SBLC dalam transaksi migas. Dengan begitu, industri tidak perlu lagi menggunakan L/C karena prinsipnya sama. 

"Ada yang mengatakan L/C itu jaminan. Nah, makanya ini masalah definisi, pengertian, padahal sama. Di dunia migas, L/C itu sudah masuk SBLC,” tambah Djoko.

Industri migas memang sudah memiliki mekanisme sendiri dalam melakukan ekspor migas. Beberapa aturan terkait antara lain Peraturan Bank Indonesia (PBI) Nomor 16/10/PBI/2014 dan PBI Nomor 17/20/PBI/2014. 

Sebelumnya, kontraktor migas sedang disibukkan dengan kewajiban menjual minyak ke PT Pertamina. Namun aturan kewajiban menjual minyak itu masih terkendala Peraturan Menteri Keuangan terkait pajak sebesar 3% bagi Kontraktor Kontrak Kerja Sama (KKKS) yang menjual minyak ke domestik.

Kontan, Page-14, Monday, Oct 8, 2018

State oil sector revenues are projected to reach US $ 16.1 billion

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) projects state revenues from the oil and gas sector this year to reach US $ 16.1 billion, 35% higher than the target of US $ 11.9 billion. However, oil and gas production is predicted to not reach the target, which is only 96% of the target or 1.9 barrels of oil equivalent per day / boepd.

SKK Migas Head Amien Sunaryadi said, until the third quarter of this year, the realization of state revenues from the oil and gas sector had reached US $ 11.8 billion. This figure is only slightly different from the target of the state's revenue in the State Budget (APBN) which is set at US $ 11.9 billion.

"Outlook until the end of the year, oil and gas revenues can reach US $ 16.1 billion," he said.

However, the high estimate of oil and gas revenues is not in line with the realization of national oil and gas lifting. According to Amien, the realization of oil lifting until last September was only 774 thousand barrels per day (bpd) or 97% of the budget target of 800 thousand bpd. Until the end of the year, this oil lifting is predicted to remain below the target, which is only 776 thousand bpd.

The same thing happened for gas lifting. Until the third quarter, national gas lifting was still at 1.15 million boepd or 95% of the 1.2 million boepd budget target. While the projection of gas lifting until the end of this year is only 1.13 million boepd or 94% of the target.

Cumulatively, the achievement of oil and gas lifting up to the third quarter was 1.9 million boepd or 96% of the target of 2 million boepd. The outlook until the end of the year was 1.9 million boepd or 95% of the target, "Amien said.

Head of SKK Migas Program and Communication Division Wisnu Prabawa Taher emphasized that although it was projected to only reach 95%, it would still try to achieve this year's production target. Moreover, several oil and gas projects are scheduled to start operating this year. 

    According to SKK Migas data, several of these projects are the development of Block A by PT Medco E & P Malaka, optimization of Lica production facilities and Temelat gas jetting to Gunung Kembang Station by PT Medcp E & P Indonesia, development of SP Project by PT Pertamina Hulu Energi ONWJ, and subsea pipeline development gas lift BW Poleng Field by Pertamina EP

"There are still two upstream oil and gas projects that will be onstream in the fourth quarter of 2018," said Wisnu.

Wisnu admitted, related to the achievement of oil and gas revenues, it was mainly caused by the increase in crude oil prices. However, this is also due to the efficiency and optimization of operating costs carried out by the cooperation contract contractors (KKKS), so that the profit margin becomes better.

Referring to data from the Ministry of Energy and Mineral Resources (ESDM), in the period from January to April, the Indonesian Crude Price (ICP) was still in the range of US $ 61-67 per barrel. Furthermore, ICP soared to US $ 72.46 per barrel in May. After that, ICP dropped to around US $ 70 per barrel, returning to US $ 69.36 per barrel in August, and reaching US $ 74.88 per barrel in September.

Energy observer and Chairman of the Indonesian Petroleum Engineers Association (IATMI) Pri Agung Rakhmanto said that the national oil and gas production trend would indeed survive in the range of 700-800 thousand bpd for oil and 1 million boepd for gas. In fact, this oil and gas production will continue to fall if there are also no new oil and gas fields with very large reserves.

"If only withholding the pace of production, just do production optimization from the existing fields and streamline some new projects. And that's what has been done from year to year, that's why oil and gas production trends are like that, "he explained.

Regarding the achievement of oil and gas revenues which are projected to be quite high, it is said to be the influence of the increase in the price of crude oil.

"Obviously oil and gas revenues will be more than justified by the movement of oil prices. If converted to Rupiah to be included in the APBN, it automatically depends also on the movement of the Rupiah against the US Dollar," Pri Agung said.

More focus

Unfortunately, the increase in crude oil prices has not been able to increase national oil and gas investment. According to SKK Migas data, until last September, oil and gas investment reached US $ 7.9 billion or 56% of the target of US $ 14.2 billion. This oil and gas investment is projected to only reach US $ 11.2 billion by the end of this year.

However, according to Wisnu, the realization of oil and gas investment until the third quarter was better than the same period last year of US $ 6.7 billion.

"This is in line with the increased realization of production development and optimization activities, including Pertamina EP Pertamina Hulu Mahakam, Chevron Pacific Indonesia, ExxonMobil Cepu Limited, and BP" he said.

Pri Agung stated, at the global level, the trend of upstream oil and gas investment had improved and had begun to increase since early 2018. That is, for the past two years the world's upstream oil and gas investment has continued to rise.

"Indonesia's upstream (oil and gas upstream) is relatively lagging behind," he said.

The reason is, the national upstream oil and gas investment climate is less competitive compared to other countries. For this reason, the government is advised to improve the investment climate by focusing on clear targets or targets.

"For example, in the next five years, somehow it will find 1-2 new oil and gas fields in the same class as the Cepu Block," said Pri Agung.

Meanwhile, referring to SKK Migas data, the realization of cost recovery this year is projected to exceed the target. Until last September, the realization of cost recovery was recorded at US $ 8.7 billion or 87% of the target of US $ 10.2 billion. Furthermore, the cost recovery outlook until the end of the year was US $ 11.7 billion.

IN INDONESIAN

Penerimaan negara Sektor Minyak Diproyeksikan Capai US$ 16,1 Miliar

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) memproyeksikan penerimaan negara dari sektor migas pada tahun ini mencapai US$ 16,1 miliar, 35% lebih tinggi dibanding target US$ 11,9 miliar. Namun, produksi migas diprediksi tidak akan mencapai target, yakni hanya 96% dari target atau sebesar 1,9 barrel oil equivalent per day/boepd

Kepala SKK Migas Amien Sunaryadi mengatakan, sampai kuartal ketiga tahun ini, realisasi penerimaan negara dari sektor migas telah mencapai US$ 11,8 miliar. Angka ini hanya beda tipis dari target penerimaan negara sektor ini dalam Anggaran Pendapatan dan Belanja Negara (APBN) yang ditetapkan sebesar US$ 11,9 miliar. 

“Outlook sampai akhir tahun, penerimaan migas bisa mencapai US$ 16,1 miliar,” kata dia.

Meski demikian, tingginya perkiraan penerimaan migas ini tidak sejalan dengan realisasi lifting migas nasional. Menurut Amien, realisasi lifting minyak sampai September lalu hanya 774 ribu barel per hari (bph) atau 97% dari target APBN 800 ribu bph. Sampai akhir tahun, lifting minyak ini diprediksi tetap akan di bawah target, yakni hanya 776 ribu bph.

Hal yang sama juga terjadi untuk lifting gas. Sampai kuartal ketiga, capaian lifting gas nasional masih di level 1,15 juta boepd atau 95% dari target APBN 1,2 juta boepd. Sementara proyeksi lifting gas sampai akhir tahun ini hanya 1,13 juta boepd atau 94% dari target.

Secara kumulatif, capaian lifting migas sampai kuartal ketiga 1,9 juta boepd atau 96% dari target 2 juta boepd. Outlook sampai akhir tahun sebesar 1,9 juta boepd atau 95% dari target,” tutur Amien.

Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher menegaskan, meski diproyeksikan hanya tercapai 95%, pihaknya masih akan berupaya untuk mencapai target produksi tahun ini. Apalagi, beberapa proyek migas dijadwalkan mulai beroperasi pada tahun ini. 

     Sesuai data SKK Migas, beberapa proyek ini adalah pengembangan Blok A oleh PT Medco E&P Malaka, optimalisasi fasilitas produksi Lica dan pengaliran gas Temelat ke Gunung Kembang Stasiun oleh PT Medcp E&P Indonesia, pengembangan Proyek SP oleh PT Pertamina Hulu Energi ONWJ, serta pembangunan subsea pipeline gas lift BW Lapangan Poleng oleh Pertamina EP 

“Masih ada dua proyek hulu migas yang akan onstream di kuartal keempat 2018 ini,” ujar Wisnu.

Wisnu mengakui, terkait capaian penerimaan migas, utamanya memang disebabkan oleh kenaikan harga minyak mentah. Namun, hal ini juga lantaran adanya efisiensi serta optimalisasi biaya operasi yang dilakukan kontraktor kontrak kerja sama (KKKS) , sehingga marjin labanya menjadi lebih bagus.

Mengacu data Kementerian Energi dan Sumber Daya Mineral (ESDM), pada periode Januari-April lalu, harga minyak mentah Indonesia (Indonesian Crude Price/ ICP) tercatat masih bertahan di kisaran US$ 61-67 per barel. Selanjutnya, ICP melejit naik menjadi US$ 72,46 per barel pada Mei. Setelah itu, ICP turun di kisaran US$ 70 per barel, kembali menjadi US$ 69,36 per barel di Agustus lalu, dan mencapai US$ 74,88 per barel di September.

Pengamat Energi sekaligus Ketua I Ikatan Ahli Teknik Perminyakan Indonesia (IATMI) Pri Agung Rakhmanto menilai, tren produksi migas nasional memang akan bertahan pada kisaran 700-800 ribu bph untuk minyak dan 1 juta boepd untuk gas. Bahkan, produksi migas ini akan terus turun jika tidak juga ditemukan lapangan migas baru dengan cadangan yang sangat besar. 

“Kalau sekedar menahan laju produksi, dilakukan optimalisasi produksi saja dari lapangan yang ada dan mengonstreamkan beberapa proyek baru. Dan itu yang selama ini dilakukan dari tahun ke tahun, makanya tren produksi migas seperti itu,” jelas dia.

Terkait capaian penerimaan migas yang diproyeksikan cukup tinggi, hal itu dikatakannya merupakan pengaruh dari peningkatan harga minyak mentah. 

"Jelas penerimaan migas akan lebih ditantukan oleh pergerakan harga minyak saja. Kalau dikonversikan ke Rupiah untuk dimasukkan ke APBN, secara otomatis bergantung juga pada pergerakan nilai tukar Rupiah terhadap Dolar Amerika Serikat,” kata Pri Agung.

Lebih Fokus

Sayangnya, kenaikan harga minyak mentah ini belum dapat meningkatkan investasi migas nasional. Menurut data SKK Migas, sampai September lalu, investasi migas mencapai US$ 7,9 miliar atau 56% dari target US$ 14,2 miliar. Investasi migas ini diproyeksikan hanya akan mencapai US$ 11,2 miliar pada akhir tahun ini. 

Namun, menurut Wisnu, realisasi investasi migas sampai kuartal ketiga tersebut lebih baik dibandingkan periode yang sama tahun lalu yang sebesar US$ 6,7 miliar. 

“Hal ini sejalan dengan peningkatan realisasi kegiatan pengembangan dan optimalisasi produksi, antara lain oleh Pertamina EP Pertamina Hulu Mahakam, Chevron Pacific Indonesia, ExxonMobil Cepu Limited, dan BP” tuturnya.

Pri Agung menyatakan, ditingkat global, tren investasi hulu migas sudah membaik dan mulai meningkat sejak awal 2018. Artinya, sudah dua tahun ini investasi hulu migas dunia terus naik. 

“Upstream (hulu migas) Indonesia relatif tertinggal,” ujarnya.

Penyebabnya, iklim investasi hulu migas nasional kalah kompetitif jika dibandingkan dengan negara lain. Untuk itu, pemerintah disarankannya melakukan perbaikan iklim investasi dengan fokus pada sasaran atau target yang jelas.

“Misalnya dalam lima tahun ke depan, entah bagaimana caranya, akan menemukan 1-2 lapangan migas baru sekelas Blok Cepu,” tutur Pri Agung. 

Sementara itu, mengacu data SKK Migas, realisasi pengembalian biaya operasi (cost recovery) pada tahun ini diproyeksikan melebihi target. Sampai September lalu, realisasi cost recovery tercatat sebesar US$ 8,7 miliar atau 87% dari target US$ 10,2 miliar. Selanjutnya, outlook cost recovery sampai akhir tahun sebesar US$ 11,7 miliar.

Investor Daily, Page-9, Friday, Oct 5, 2018

Oil and Gas Investment Grows 17% in the Third Quarter

Until the end of September 2018, upstream oil and gas investment had reached US $ 7.90 billion. That number grew 17.21% compared to the same period last year which amounted to US $ 6.74 billion. However, the realization of oil and gas investment until the third quarter of 2018 is still far from the government's target.

The realization of oil and gas investment as of the end of September was recorded at only 56% of the target throughout 2018 which reached US $ 14.2 billion. Seeing these conditions, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) projects that by the end of the year, investment in the oil and gas sector will only reach US $ 11.2 billion or 79% of this year's target.

Head of the SKK Migas Program and Communication Division Wisnu Prabawa Taher revealed, the projection is in line with the estimated additional upstream oil and gas activities until the end of 2018. The calculation, taking into account current conditions, realization of activities and additional estimates of activities in the fourth quarter that can be completed, can be expected accordingly target and investment can be maximum. 

    The data is indeed dynamic and we continue to be interested, "Wisnu said. Although it is difficult to achieve the target, the realization of oil and gas investment so far is still better than the same period last year.

According to Wisnu, this year's increase in upstream oil and gas investment was due to an increase in activities in the upstream sector, especially investment to increase production which could reach 75% of the realization of upstream oil and gas investment or US $ 5.92 billion. 

     The remaining 20% ​​is for investment in oil and gas field development and 5% for exploration activities. According to Wisnu, there are still low exploration investment figures due to the many exploration activities that are ongoing and not yet completed.

So according to Wisnu, investment costs have not yet entered the calculation of realization of investment achievements during the third quarter of this year. According to him, the large number of production activities also made the majority of upstream oil and gas investment come from subsidiaries of PT Pertamina and several multinational oil and gas companies that manage oil and gas production blocks in Indonesia.

"Increased investment compared to last year is in line with increased realization of production development and optimization activities, mainly among others at Pertamina EP, Pertamina Hulu Mahakam, Chevron Pacific Indonesia, ExxonMobil Cepu Limited, and BP," Wisnu concluded.

Production is only 95%

Meanwhile, SKK Migas projects that until the end of the year, the realization of lifting, the realization of oil and gas will only reach 95% of the target or by 1.9 million barrels of Oil equivalent per day (BOEPD). The estimate consists of the oil lifting outlook at the end of this year of around 97% or 776,000 barrels per day (bpd) and gas lifting of only 94% or 1.1 million BOEPD at the end of 2018.

Wisnu said that the realization of oil and gas lifting was only 95% due to several production constraints that occurred in a number of oil and gas projects. One of them is the technical constraints of production equipment that occurred in the ONWJ Block managed by PT Pertamina Hulu Energi (PHE). There are also effects from the technical constraints of the pipeline in the production facilities in the Rokan Block managed by Chevron Pacific Indonesia (CPI).

"But these obstacles have been handled well," Wisnu said.

Then, constraints also occur because oil and gas production is not in line with the target. As in the Medco Natuna project, the production from the well drilling is not in line with expectations and there is drilling rescheduling. According to Wisnu, the same thing happened at the Pertamina EP project, where the drilling results were below expectations. Likewise, the Pertamina Upstream Mahakam project delayed drilling due to rig selection.

IN INDONESIAN

Investasi Migas Tumbuh 17% di Kuartal Ketiga

Hingga akhir September 2018, investasi hulu migas telah mencapai US$ 7,90 miliar. Jumlah itu tumbuh 17,21% dibandingkan dengan periode yang sama tahun lalu yang sebesar US$ 6,74miliar. Namun, realisasi investasi migas hingga kuartal III 2018 masih jauh dari target pemerintah. 

Realisasi investasi migas per akhir September tercatat hanya mencapai 56% dari target sepanjang 2018 yang mencapai US$ 14,2 miliar. Melihat kondisi tersebut, Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) memproyeksikan hingga akhir tahun nanti, investasi di sektor migas hanya akan mencapai US$ 11,2 miliar atau 79% dari target tahun ini. 

Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengungkapkan, proyeksi tersebut sesuai dengan perkiraan tambahan kegiatan hulu migas hingga akhir tahun 2018. Perhitungannya, dengan pertimbangan kondisi saat ini, realisasi kegiatan dan perkiraan tambahan kegiatan di kuartal IV yang bisa selesai, harapannya bisa sesuai target dan investasi bisa maksimal. Datanya memang dinamis dan terus kami montor,"  ujar Wisnu. Meski sulit mencapai target, realisasi investasi migas sejauh ini masih lebih baik dibandingkan periode yang sama tahun lalu.

Menurut Wisnu, peningkatan investasi hulu migas tahun ini karena adanya peningkatan kegiatan di sektor hulu, Terutama investasi untuk peningkatan produksi yang bisa mencapai 75% dari realisasi investasi hulu migas atau mencapai US$ 5,92 miliar. Sisanya sebesar 20% untuk investasi pengembangan lapangan migas dan 5% untuk kegiatan eksplorasi. Menurut Wisnu, masih rendahnya angka investasi eksplorasi karena banyaknya kegiatan eksplorasi yang sedang berlangsung dan belum selesai. 

Sehingga menurut Wisnu, biaya investasi belum masuk ke dalam perhitungan realisasi pencapaian investasi Selama kuartal ketiga tahun ini. Menurut dia, banyaknya kegiatan produksi pun membuat investasi hulu migas mayoritas berasal dari anak usaha PT Pertamina dan beberapa perusahaan migas multinasional yang mengelola blok migas produksi di lndonesia. 

"Peningkatan investasi dibandingkan tahun lalu sejalan dengan peningkatan realisasi kegiatan pengembangan dan optimalisasi produksi, utamanya antara lain di Pertamina EP, Pertamina Hulu Mahakam, Chevron Pacific Indonesia, ExxonMobil Cepu Limited, dan BP," pungkas Wisnu.

Produksi hanya 95%

Sementara itu, SKK Migas memproyeksikan hingga akhir tahun nanti, realisasi lifting, realisasi migas hanya mencapai 95% dari target atau sebesar 1,9 juta barrel Oil equivalent per day (BOEPD). Estimasi tersebut terdiri dari outlook lifting minyak pada akhir tahun ini sekitar 97% atau 776.000 barel per hari (bph) dan lifting gas hanya sebesar 94% atau sebesar 1,1 juta BOEPD pada akhir tahun 2018. 

Wisnu mengemukakan realisasi lifting migas yang hanya 95% disebabkan beberapa kendala produksi yang terjadi di sejumlah proyek migas. Salah satunya adalah kendala teknis peralatan produksi yang terjadi di Blok ONWJ yang dikelola oleh PT Pertamina Hulu Energi (PHE). Ada juga efek dari kendala teknis pipa di fasilitas produksi di Blok Rokan yang dikelola oleh Chevron Pacific Indonesia (CPI). 

"Namun kendala tersebut sudah ditangani dengan baik," ungkap Wisnu. 

Kemudian, kendala juga terjadi karena produksi migas yang tidak sesuai dengan target. Seperti di proyek Medco Natuna yang hasil produksi dari pengeboran sumurnya tidak sesuai dengan ekspektasi dan adanya reschedule pengeboran. Menurut Wisnu, hal serupa juga terjadi di proyek Pertamina EP, di mana hasil pengeboran di bawah ekspektasi. Begitu juga proyek Pertamina Hulu Mahakam yang menunda pengeboran karena terkait pemilihan rig.

Kontan, Page-14, Friday, Oct 5, 2018

Pertamina Needs Jumbo Funds for Oil and Gas Projects

At the time of the rising trend of oil and gas imports, PT Pertamina needs jumbo-scale investment funds in the upstream oil and gas sector (oil and gas). Investment is important in order to cut oil and gas imports while holding back the decline in oil and gas production. An international rating agency, Moody'S Investors Service noted, Indonesia needs an investment of more than US $ 150 billion or IDR 2,250 trillion with an exchange rate of IDR 15,000 per US dollar during the period 2018 to 2025.

The investment is needed to restrain the decline in production, development of gas infrastructure and expanding refinery capacity to meet growing oil demand. It may be that Pertamina and the local oil and gas contractor will bear a greater share of the investment. Because, Moody‘s assesses, the value of investments issued by foreign oil and gas companies will be more moderate because there are rules and business climate constraints.

Pertamina is confident that it can invest in the upstream oil and gas sector in Indonesia. Pertamina also continues to strive for production not to decline. About funding, PT Pertamina's Finance Director, Pahala Nugraha Mansury, Wednesday (3/10), said that Pertamina was planning to release global bonds.

"The plan is to issue global bonds before the end of this year," Pahala said, without mentioning the value.

Pertamina is currently processing this corporate action, for example applying for "request for proposals (RFP) and audits for publishing purposes

global bond. "We have audited and RFP. There are Lima Banks," Pahala said.

Later, global bond proceeds will be used, among others, to invest in the Rokan (Chevron) Block. The government grants 100% management rights to the Block Block to Pertamina, starting August 8, 2021. Currently, the Rokan Block is still managed by PT Chevron Pacific Indonesia. In the block, Pertamina will pay a signalture bonus of US $ 785 million and a definite work commitment of US $ 50 million.

Not only that, in the same block, Pertamina also needs an investment of US $ 72 billion for 20 years, from 2021 to 2041. This fund is to explore 7,000 points in the Rokan Block. In addition, Pertamina also needs funds to continue the use of enhanced oil recovery technology (EOR) the operator of the current Rokan Block by Chevron.

Energy Economics Observer from Gadjah Mada University, Fahmy Radhi, said that if managing the oil and gas block alone, it would be too much for Pertamina. There are two alternatives that Pertamina can do, namely applying for loans and sharing with strategic partners. Pertamina's choice, offering a participating interest for sharing or financing through loans.

"Building refineries requires large funds, I am the most suitable to invite partners, then sharing," he said.

IN INDONESIAN

Pertamina Butuh Dana Jumbo untuk Proyek Migas

Di saat tren kenaikan impor minyak dan gas, PT Pertamina perlu dana investasi berskala jumbo di sektor hulu minyak dan gas (migas). Investasi menjadi penting demi memangkas impor migas sekaligus menahan penurunan produksi migas. Lembaga pemeringkat internasional, Moody'S Investors Service mencatat, Indonesia membutuhkan investasi lebih dari US$ 150 miliar atau Rp 2.250 triliun dengan kurs Rp 15.000 per dolar AS selama periode 2018 hingga 2025.

Investasi itu dibutuhkan untuk menahan penurunan produksi, pengembangan infrastruktur gas serta memperluas kapasitas kilang demi memenuhi permintaan minyak yang terus bertumbuh. Boleh jadi, Pertamina beserta kontraktor migas lokal akan menanggung bagian investasi lebih besar. Sebab, Moody‘s menilai, nilai investasi yang dikeluarkan perusahaan migas asing akan lebih moderat karen ada kendala aturan dan iklim bisnis.

Pertamina yakin bisa berinvestasi di sektor hulu migas di Indonesia. Pertamina juga terus berupaya agar produksi tidak menurun. Soal pendanaan,

Direktur Keuangan PT Pertamina, Pahala Nugraha Mansury, Rabu (3/10), mengatakan, Pertamina berancang-ancang merilis obligasi global. 

"Rencana penerbitan global bond sebelum akhir tahun ini," ujar Pahala, tanpa menyebut nilainya.

Pertamina saat ini sedang memproses aksi korporasi ini, misalnya mengajukan "request for proposal (RFP) dan audit untuk keperluan penerbitan

global bond. "Kami sudah audit dan RFP. Bank ada Lima," ujar Pahala.

Kelak, dana hasil global bond digunakan antara lain untuk berinvestasi di Blok Rokan (Chevron). Pemerintah memberikan 100% hak pengelolaan Blok Rokan ke Pertamina, mulai 8 Agustus 2021. Saat ini, Blok Rokan masih dikelola PT Chevron Pacific lndonesia. Di blok itu, Pertamina akan membayar signalture bonus US$ 785 juta dan komitmen kerja pasti US$ 50 juta.

Tidak hanya itu saja, di blok yang sama, Pertamina juga membutuhkan dana investasi US$ 72 miliar selama 20 tahun, dari 2021 sampai 2041. Dana ini untuk mengeksplorasi 7.000 titik di Blok Rokan. Selain itu, Pertamina juga membutuhkan dana untuk melanjutkan penggunaan teknologi enhanced oil recovery (EOR) yang telah dilakukan operator Blok Rokan saat ini oleh Chevron.

Pengamat Ekonomi Energi Universitas Gadjah Mada, Fahmy Radhi menilai, jika mengelola blok migas sendirian, terlalu berat bagi Pertamina. Ada dua alternatif yang bisa dilakukan Pertamina, yakni mengajukan pinjaman dan sharing dengan mitra strategis.

Pilihan Pertamina, menawarkan participating interest untuk sharing atau pembiayaan lewat pinjaman.

"Membangun kilang membutuhkan dana besar, saya yang paling sesuai mengajak partner, kemudian sharing," kata dia.

Kontan, Page-1, Thursday, Oct 4, 2018

5 Banks Awarded Global Bond Proposals

PT Pertamina (Persero) requires substantial funds to pay signature bonuses for several new oil and gas block termination contracts.

Pertamina also plans to raise funds from the issuance of global bonds before the end of this year. Pertamina has obtained an abundance of 11 oil and gas working areas whose contracts have expired or terminated in 2018-2023. The total oil and gas working area terminated in 2018-2023 is 27 blocks. The government gives 11 oil and gas blocks to Pertamina, 6 blocks are extended to contractors, and 3 blocks will be auctioned because they are not in demand. The government is still evaluating the contracts for three oil and gas blocks that will end (termination) in 2022-2023.

Pertamina Finance Director Pahala N. Mansyuri said that his party had sent a proposal request document (request for proposals / RFP) to a number of banks. Proposal request documents are useful to help vendors understand the needs of prospective clients.

"RFP already. We have also conducted an audit. There are five banks, "he said.

However, he has not been able to disclose the amount of targeted emissions from the issuance of US dollar denominated bonds.

"We have not been able to convey this far, he said.

Pahala N. Mansyuri explained that the funds collected will mainly be used to meet the company's long-term investment needs in the upstream oil and gas sector. Pertamina's investment needs that are quite urgent are the management of the Rokan Work Area (Chevron) in Riau. The government decided to transfer the management of the Block to Pertamina starting August 2021.

Chevron Vs Pertamina 

BY: CNBC Indonesia

Pertamina must immediately repay the Rokan Block signature bonus payment to the government worth US $ 784 million or around Rp. 11.3 trillion. The signature bonus must be paid when signing the new Rokan Block contract. The Ministry of Energy and Mineral Resources targets a new Rokan Block contract to be signed this year.

Pahala said, the company will complete the payment of the signature bonus of the Rokan Block before the end of 2018. Pertamina's Corporate Secretary Syahrial Muchtar previously said that the company is currently preparing a subsidiary to operate the Rokan Block. According to him, currently the preparation for the establishment of a subsidiary only completes the administration process. The management transfer occurs in other blocks managed by Pertamina.

The average production of Block Rokan crude oil reaches more than 200,000 barrels per day (bpd). In addition to signature bonuses, Pertamina agreed on the value of definite work commitments, namely certainty of investment for the first 3 years in managing Rokan amounting to US $ 500 million or Rp 7.2 trillion. 

    As a legal basis for signature bonus payments, the Ministry of Energy and Mineral Resources has issued Minister of Energy and Mineral Resources Decree No. 1023 K / 10 / MEM / 2018 concerning Management Approval, and Determination of Terms and Conditions for Cooperation Contracts in the Co-Operational Area.

ESDM Minister Ignasius Jonan said, basically his party was waiting for Pertamina to establish a subsidiary that specifically manages the Block Block so that the contract can be signed immediately. In addition to the Block Block, Pertamina will also manage other termination oil and gas blocks. Pahala N. Mansyuri said, the company would continue to invest in maintaining the production of upstream assets owned by the company.

"We continue to invest in assets upstream. We strive to at least reduce the decline in production [a decrease in natural oil and gas production. "

IN INDONESIAN

5 Bank Disodori Proposal Global Bond

PT Pertamina (Persero) membutuhkan dana cukup besar untuk membayar bonus tanda tangan beberapa kontrak baru blok  minyak dan gas bumi terminasi.

Pertamina pun berencana menggalang dana dari penerbitan obligasi global sebelum akhir tahun ini. Pertamina telah mendapatkan limpahan 11 wilayah kerja migas yang kontraknya telah berakhir atau terminasi periode 2018-2023. Total wilayah kerja migas terminasi pada 2018-2023 sebanyak 27 blok. Pemerintah memberikan 11 blok migas kepada Pertamina, 6 blok diperpanjang ke kontraktor eksis, dan 3 blok akan dilelang karena tidak diminati. Pemerintah masih mengevaluasi kontrak tiga blok migas yang akan berakhir (terminasi) pada 2022-2023.

Direktur Keuangan Pertamina Pahala N . Mansyuri mengatakan bahwa pihaknya sudah mengirimkan dokumen permintaan proposal (request for proposal/RFP) kepada sejumlah perbankan. Dokumen permintaan proposal berguna untuk membantu vendor memahami kebutuhan dari calon klien. 

“RFP sudah. Kami juga sudah melakukan audit. Bank ada lima,” katanya.

Namun, dia belum bisa mengungkapkan jumlah nilai emisi yang ditargetkan dari penerbitan surat utang dalam mata uang dolar Amerika Serikat tersebut. 

“Kami belum bisa sampaikan sejauh ini,  katanya. 

Pahala N . Mansyuri menjelaskan, dana yang dihimpun utamanya akan digunakan untuk memenuhi kebutuhan investasi jangka panjang perseroan di sektor hulu minyak dan gas bumi. Kebutuhan investasi Pertamina yang cukup mendesak adalah alih kelola Wilayah Kerja Rokan di Riau. Pemerintah memutuskan untuk mengalihkan pengelolaan Blok Rokan kepada Pertamina mulai Agustus 2021.

Pertamina harus segera melunasi pembayaran bonus tanda tangan Blok Rokan kepada pemerintah senilai US$ 784 juta atau sekitar Rp 11,3 triliun. Bonus tanda tangan itu harus dibayar ketika penandatanganan kontrak baru Blok Rokan. Kementerian Energi dan Sumber Daya Mineral menargetkan kontrak baru Blok Rokan ditandatangani pada tahun ini.

Pahala menuturkan, perseroan akan menuntaskan pembayaran bonus tanda tangan Blok Rokan sebelum akhir 2018. Sekretaris Perusahaan Pertamina Syahrial Muchtar sebelumnya mengatakan, saat ini perseroan sedang mempersiapkan anak usaha untuk mengoperasikan Blok Rokan. Menurutnya, saat ini persiapan pembentukan anak usaha hanya menyelesaikan proses administrasi saja. Alih kelola tersebut, terjadi pada blok-blok lain yang dikelola milik Pertamina. 

Rerata produksi minyak mentah Blok Rokan mencapai lebih dari 200.000 barel per hari (bph). Selain bonus tanda tangan, Pertamina menyepakati nilai komitmen kerja pasti, yaitu kepastian investasi selama 3 tahun pertama dalam mengelola Rokan sebesar US$ 500 juta atau Rp 7,2 triliun. Sebagai dasar hukum pembayaran signature bonus, Kementerian ESDM telah menerbitkan Keputusan Menteri ESDM No. 1023 K/10/MEM/2018 tentang Persetujuan Pengelolaan, serta Penetapan Syarat dan Ketentuan Kontrak Kerja Sama pada Wilayah Kerja Rokan.

Menteri ESDM Ignasius Jonan mengatakan, pada dasarnya pihaknya sedang menanti Pertamina mendirikan anak perusahaan yang khusus mengelola Blok Rokan sehingga kontrak wilayah kerja itu dapat segera ditandatangani. Selain Blok Rokan, Pertamina juga akan mengelola blok migas terminasi lainnya. Pahala N. Mansyuri mengatakan, perseroan akan terus melakukan investasi untuk menjaga produksi aset hulu milik perseroan. 

“Kami terus berupaya berinventasi untuk aset yang ada di hulu. Kami berupaya paling tidak mengurangi penurunan produksi [penurunan produksi migas secara alamiah.” 

Bisnis Indonesia, Page-24, Thursday, Oct 4, 2018