Contracts for Two Oil and Gas Blocks Will Switch to Gross Split

The government states that there are two oil and gas blocks whose production contracts (PSC) are changed from the scheme cost recovery is a gross split. If realized, then there are a total of three oil and gas companies that change their contracts to become gross split.

25 Working Area of Gross Split Scheme

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, seven oil and gas contractors had expressed interest to revise his contract to gross split. Two of the contractors, among them, are now increasingly shifting to gross split contracts. Signing This contract amendment is expected to be carried out early next year.

Arcandra Tahar 

"[Signing] the third week of January [2019]," he said in Jakarta.

Unfortunately, Arcandra is reluctant to name the two blocks. He only mentioned that one of the oil and gas blocks that had been changed by the contract was a conventional oil and gas block. At present, it is still evaluating the contracts for the two oil and gas blocks. One of them is related to the calculation of profit sharing (split) became the allotment of cooperation contractors (KKKS) and the government, after switching the scheme of the contract to gross split.

Eni Indonesia

Previously, Eni Indonesia signed a recent signing of the PSC amendment for the Sepinggan East Block. This amendment is due to the contract scheme changed from cost recovery to gross split. The East Sepinggan Block contract is the first cost recovery scheme to switch to gross split in accordance with the contractor's proposal. One of the considerations of the contractor is the effectiveness of WK development East Sepinggan.

The East Sepinggan Block contract began on July 20, 2012 and ends in July 2042. The 30-year contract period consists of a 20-year exploration phase and 10-year production. The split for this block contractor is 67% for oil and 72% for gas, this count is for base split plus split variable.

The holders of this block's participation rights are 85% Eni East Sepinggan Limited and 15% PT Pertamina Hulu Energi, where Eni East Sepinggan Limited acts as the operator.

"Italian companies and Pertamina have moved from cost recovery to gross split. "Gross split makes the process simpler and more effective," Arcandra said.

Managing Director Fabrizio Trili

Eni Indonesia's Managing Director Fabrizio Trili revealed that the gross split scheme was the same good solution for his party and the government. With the change in the scheme of the East Sepinggan Block contract, it also obtained convenience.

"We are free to carry out our various activities, to market products, to ensure better results from gas production for both the government and Eni," Fabrizio explained.

Arcandra added, until now, the number of oil and gas blocks whose contracts using gross split schemes have reached more than 30 contracts. With Eni choosing to switch to gross split, this proves that the new oil and gas contract scheme is attractive to investors.

Production Test.

Meanwhile, ESDM Ministry Director General of Oil and Gas Djoko Siswanto said Eni had completed drilling one well at Merakes Field, East Sepinggan Block. Drill steam tests were also carried out on the well and the results were very promising.

"One Merakes well managed to produce 30 mmscfd / million metric standard cubic feet of gas per day. If 10 wells are drilled, the production can be 300 mmscfd, "he said.

Not only gas, the well also produces associated oil or condensate. The production of condensate wells, said Djoko, is around 100 barrels per day (bpd). For the planned development of Merakes Field, the East Sepinggan Block is targeted to produce gas up to 391 mmscfd with total production along the contract of 814 billion cubic feet. The production period of this field according to its economy is estimated to be around 9 years.

"The on-stream plan is 2021," he said.

IN INDONESIAN

Kontrak Dua Blok Migas akan Beralih ke Gross Split

Pemerintah menyatakan terdapat dua blok migas yang kontrak kerja samanya (production sharing contract/ PSC) diubah skemanya dari cost recovery menjadi bagi hasil kotor (gross split). Jika terealisasi, maka total terdapat tiga perusahaan migas yang mengubah kontraknya menjadi gross split.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, tujuh kontraktor migas telah menyatakan minatnya untuk merevisi kontraknya menjadi gross split. Dua kontraktor diantaranya kini semakin mantap beralih ke kontrak gross split. Penandatanganan amendemen kontrak ini diharapkan bisa dilakukan awal tahun depan.

“[Signing] minggu ketiga Januari [2019],” kata dia di Jakarta.

Sayangnya, Arcandra enggan menyebutkan nama dua blok ini. Dia hanya menyebut salah satu blok migas yang diubah kontraknya ini merupakan blok migas konvensional. Saat ini, pihaknya masih mengevaluasi kontrak kedua blok migas ini. Salah satunya yakni terkait perhitungan bagi hasil (split) yang menjadi jatah kontraktor kerja sama (KKKS) dan pemerintah, setelah beralih skema kontraknya menjadi gross split.

Sebelumnya, Eni Indonesia menandatangani baru saja menandatangani amendemen PSC untuk Blok East Sepinggan. Amendemen ini lantaran skema kontraknya berubah dari cost recovery menjadi gross split. Kontrak Blok East Sepinggan merupakan kontrak skema cost recovery pertama yang beralih menjadi gross split sesuai dengan usulan kontraktor. Salah satu pertimbangan kontraktor yakni dalam rangka efektifitas pengembangan WK

East Sepinggan.

Kontrak Blok East Sepinggan ini dimulai pada 20 Juli 2012 dan berakhir pada Juli 2042. Jangka waktu kontrak selama 30 tahun ini terdiri dari fase eksplorasi 20 tahun dan produksi 10 tahun. Bagi hasil (split) bagi kontraktor blok ini yakni sebesar 67% untuk minyak dan 72% untuk gas, hitungan ini untuk base split plus variable split. 

Pemegang hak partisipasi blok ini adalah Eni East Sepinggan Limited sebesar 85% dan PT Pertamina Hulu Energi East Sepinggan 15%, dimana Eni East Sepinggan Limited bertindak sebagai operator. 

“Perusahaan Italia dan Pertamina telah pindah dari cost recovery ke gross split. Gross split membuat proses lebih simpel dan efektif,” kata Arcandra.

Managing Director Eni Indonesia Fabrizio Trili mengungkapkan, skema gross split ini menjadi solusi yang sama bagusnya bagi pihaknya dan pemerintah. Dengan perubahan skema kontrak Blok East Sepinggan, pihaknya juga memperoleh kemudahan.

“Kami bebas dalam menjalankan berbagai kegiatan kami, untuk memasarkan produk, untuk memastikan hasil yang lebih baik dari produksi gas baik bagi pemerintah maupun Eni,” jelas Fabrizio.

Arcandra menambahkan, hingga saat ini, jumlah blok migas yang kontraknya menggunakan skema gross split telah mencapai lebih dari 30 kontrak. Dengan Eni memilih beralih ke gross split, ini membuktikan bahwa skema baru kontrak migas itu menarik bagi investor. 

Tes Produksi. 

Sementara itu, Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Djoko Siswanto mengatakan, Eni telah merampungkan pengeboran satu sumur di Lapangan Merakes, Blok East Sepinggan. Drill steam test juga telah dilakukan pada sumur tersebut dan hasilnya sangat menjanjikan.

“Satu sumur Merakes berhasil memproduksi gas 30 mmscfd/million metric standard cubic feet per day. Bila dibor 10 sumur, maka produksinya bisa 300 mmscfd,” kata dia. 

Tidak hanya gas, sumur itu juga memproduksi minyak ikutan atau kondensat. Produksi kondensat sumur itu, kata Djoko, sekitar 100 barel per hari (bph). Untuk rencana pengembangan Lapangan Merakes, Blok East Sepinggan ditargetkan dapat menghasilkan gas hingga 391 mmscfd dengan total produksi sepanjang kontrak 814 miliar kaki kubik. Masa produksi lapangan ini sesuai keekonomiannya diperkirakan sekitar 9 tahun. 

“Rencana onstream-nya 2021,” ujarnya.

Investor Daily, Page-9, Monday, Dec 17, 2018

It's time for Jokowi to start entering the Upstream Oil and Gas Sector

Eni S.p.A., an oil and gas company from Italy, can be said to be an oil and gas company that has lost durian in the past 4 years, namely in 2015. After starting oil and gas exploration activities in the Mediterranean Sea in 2015, the Italian company finally found gas reserves the earth as much as 30 trillion cubic feet (trillion cubic feet / tcf), equivalent to 5.5 billion barrels of barrel oil of equivalent / boe.

ENI S.P.A.

After discovering oil and gas reserves at Zohr Field in August 2015, Eni immediately proposed an investment plan for the development of the field, which is said to have such giant reserves. In about 6 months, namely until February 2016, Eni has obtained certainty from the oil and gas authority in Egypt to be able to continue the findings of the reserves to the stage of exploitation or production.

From the success of Eni and BP in Egypt, there is no denying that government support is a determining factor for investors entering and seeking oil and gas reserves. It is conceivable, the magnitude of the impact produced when Zohr's class of oil and gas is found in the territory of Indonesia. Natural gas exports will increase so that it will increase the country's foreign exchange.

ENI S.P.A.

This will reduce the oil and gas balance deficit that has been widely discussed lately when the rupiah exchange rate weakened against the US dollar. At least, the discovery of natural gas reserves will reduce the oil and gas trade balance deficit in the next few years, which is after the oil and gas field begins to enter the production phase.

Zohr Field

The Indonesian government needs to replicate the success of the Egyptian Government which fully supports upstream oil and gas investors when they find potential large-scale oil and gas reserves in Zohr Field. Since 2003, Indonesia has officially become an oil importer because domestic production cannot meet the consumption of fuel oil (BBM) in the country.

In fact, the oil and gas trade deficit continues to expand. This is due to the downward trend in oil production (lifting), while the consumption trend BBM continues to rise along with economic growth. With an average economic growth of 5% per year, fuel consumption also increases. Based on several surveys, every 1% of economic growth, energy demand will increase by 1.5%.

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) estimates that oil lifting is only 281,000 barrels per day (bpd) in 2030. However, with enhance oil recovery / EOR technology method, oil lifting is expected to be able to survive in the range of 520,000 bpd by 2030.

Amien Sunaryadi, in his farewell remarks as Head of SKK Migas, revealed that the oil and gas balance deficit would be even wider in the coming years. The only solution is to resist the increase in the oil and gas balance deficit by conducting oil and gas exploration and finding

large scale field.

STRENGTHENING UPPER

The President of the Indonesian Petroleum Association (IPA) Tumbur Parlindungan said that the rise of the national oil and gas upstream would have a double impact on the economy. Not just talking about increasing state income, but the might of a country's upstream oil and gas is a driving factor for the economy.

"Once the upstream oil and gas sector is strong, the petrochemical industry is more independent, supporting industries are growing and others are emerging."

According to him, the potential for oil and gas subsurface in the country remains promising, but needs to be supported by increasing national upstream oil and gas competitiveness. In the perspective of oil and gas investors who are not only focused on one of the regions, the return calculation and profit is certainly a priority.

If Egypt, which in the 2011-2013 period experienced internal crisis, and could rise by reforming the oil and gas sector, Indonesia could do the same. Moreover, there are no internal problems that make the national business atmosphere deteriorate. In the last 3 years, there have indeed been hundreds of policies cut to make the atmosphere of the national oil and gas investment more concise. At least nearly 200 policies in the energy and mineral resources sector were cut by the Ministry of Energy and Mineral Resources.

Seeing this, Tumbur admitted that the Ministry of Energy and Mineral Resources had carried out its main tasks and functions properly. However, in investing in Indonesia, licensing is not only entered in one ministry / institution.

"Regulatory trimming and simplification is important, but investors also need how long it will take to complete all that," he said.

 The President Joko Widodo 

With the many permits needed, the command of the Head of State is important. President Joko Widodo needs to take a stand and ensure that his assistants simplify the flow of upstream oil and gas investment. How can I not, the government's anxiety about the oil and gas balance deficit, especially coupled with the weakening rupiah exchange rate against the US dollar, has become a challenge for policy makers.

It must be admitted, indeed for the past 4 years, discussions in an effort to encourage the ease of investment in upstream oil and gas are minimal. Moreover, by providing a red carpet for upstream oil and gas investors to enter. The government's success encourages equal distribution of infrastructure or rolling out village funds, seems to be able to be implemented in the upstream oil and gas sector.

The President needs to intervene directly, supervise and look for solutions to make it easier for investors to carry out exploration in the country. It's time for Jokowi to enter the upstream oil and gas sector. The direct intervention of the President in the upstream oil and gas sector is considered necessary considering that the government does not have sufficient budget to carry out exploration or study in the search for oil and gas reserves in open areas.

IN INDONESIAN

Saatnya Jokowi Mulai Blusukan ke Sektor Hulu Migas

Eni S.p.A., perusahaan minyak dan gas bumi dari Italia, bisa dibilang menjadi perusahaan migas yang ketiban durian runtuh pada 4 tahun lalu, yaitu pada 2015. Setelah memulai kegiatan eksplorasi migas di Laut Mediterania pada 2015, perusahaan asal Italia itu akhirnya menemukan cadangan gas bumi sebanyak 30 triliun kaki kubik (trillion cubic feet/tcf) atau setara dengan 5,5 miliar barel ekuivalen minyak (barrel oil of equivalent/boe).

Setelah menemukan cadangan migas di Lapangan Zohr pada Agustus 2015, Eni  langsung mengajukan rencana investasi untuk pengembangan lapangan yang disebut memiliki cadangan raksasa tersebut. Dalam waktu sekitar 6 bulan, yaitu sampai Februari 2016, Eni sudah mendapatkan kepastian dari otoritas migas di Mesir untuk dapat melanjutkan temuan cadangan tersebut ke tahap eksploitasi atau produksi.

Dari keberhasilan Eni dan BP di Mesir, tidak bisa disangkal bahwa dukungan pemerintah, menjadi faktor penentu investor masuk dan mencari potensi cadangan migas. Bisa dibayangkan, besarnya dampak yang dihasilkan ketika lapangan migas sekelas Zohr di temukan di wilayah Indonesia. Ekspor gas bumi akan bertambah sehingga meningkatkan devisa negara. 

Hal itu akan mengurangi defisit neraca migas yang ramai diperbincangkan akhir-akhir ini ketika nilai tukar rupiah melemah terhadap dolar Amerika Serikat. Setidaknya, penemuan cadangan gas bumi itu akan mengurangi defisit neraca perdagangan migas dalam beberapa tahun depan, yaitu setelah lapangan migas mulai masuk tahap produksi.

Pemerintah Indonesia perlu meniru keberhasilan Pemerintah Mesir yang mendukung sepenuhnya investor hulu migas ketika menemukan potensi cadangan minyak dan gas bumi skala besar di Lapangan Zohr. Sejak 2003, Indonesia resmi menjadi importir minyak karena produksi dalam negeri tidak dapat memenuhi konsumsi bahan bakar minyak (BBM) di Tanah Air. 

Bahkan, defisit perdagangan migas terus membesar. Hal itu disebabkan oleh tren penurunan produksi minyak (lifting), sedangkan tren konsumsi BBM terus naik seiring dengan pertumbuhan ekonomi. Dengan pertumbuhan ekonomi rerata 5% per tahun, konsumsi BBM pun ikut meningkat. Berdasarkan beberapa survei, setiap 1% pertumbuhan ekonomi, permintaan energi akan meningkat  1,5%.

Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) memperkirakan bahwa lifting minyak tinggal 281.000 barel per hari (bph) pada 2030. Namun, dengan metode teknologi produksi minyak lanjutan (enhance oil recovery/EOR), lifting minyak diperkirakan mampu bertahan di kisaran 520.000 bph pada 2030.

Amien Sunaryadi, dalam sambutan perpisahan sebagai Kepala SKK Migas, mengungkapkan bahwa defisit neraca migas akan semakin lebar pada tahun-tahun mendatang. Satu-satunya solusi untuk menahan peningkatan defisit neraca migas itu dengan melakukan eskplorasi migas dan menemukan lapangan skala besar.

PERKUAT HULU

Presiden Indonesian Petroleum Association (IPA) Tumbur Parlindungan mengatakan bahwa kebangkitan hulu migas nasional akan memberikan dampak ganda untuk perekonomian. Tidak sekadar bicara tentang meningkatnya pemasukan negara, tetapi keperkasaan hulu migas suatu negara menjadi faktor pendorong perekonomian. 

“Begitu hulu migas kuat, industri petrokimia lebih mandiri, industri pendukung bertumbuh dan yang lainnya muncul."

Menurutnya, potensi kandungan di bawah permukaan (subsurface) migas di Tanah Air tetap menjanjikan, tetapi perlu didukung dengan peningkatan daya saing hulu migas nasional. Dalam perspektif investor migas yang tidak hanya fokus di salah satu regional, hitung-hitungan balik modal

dan laba tentu menjadi prioritas.

Jika Mesir yang dalam kurun waktu 2011-2013 mengalami ktisis internal, dan dapat bangkit dengan melakukan reformasi di sektor migas, Indonesia pun dapat melakukan hal serupa. Apalagi tidak ada permasalahan internal yang membuat atmosfer bisnis nasional memburuk. Dalam 3 tahun terakhir, memang sudah ada ratusan kebijakan dipotong untuk membuat atmosfer investasi migas nasional lebih ringkas. Setidaknya nyaris sebanyak 200 kebijakan di sektor energi dan sumber daya mineral dipotong oleh Kementerian ESDM.

Melihat hal tersebut, Tumbur mengaku bahwa Kementerian ESDM sudah menjalankan tugas pokok dan fungsinya dengan baik. Namun, dalam berinvestasi di Indonesia, perizinan tidak hanya masuk di satu kementerian/lembaga saja. 

“Pemangkasan dan penyederhanaan regulasil menjadi penting, tetapi investor juga memerlukan berapa lama waktu yang diperlukan untuk menyelesaikan semua itu,” tuturnya.

Dengan banyaknya perizinan yang diperlukan, komando Kepala Negara menjadi penting. Presiden Joko Widodo perlu mengambil sikap dan memastikan bahwa para asistennya mempermudah arus investasi hulu migas. Bagaimana tidak, kegamangan pemeritah melihat defisit neraca migas, apalagi ditambah dengan kondisi melemahnya nilai tukar rupiah terhadap dolar Amerika Serikat, menjadi tantangan tersendiri bagi pemangku kebijakan.

Harus diakui, memang selama 4 tahun ke belakang, pembahasan dalam upaya mendorong kemudahan investasi hulu migas minim dikemukakan. Apalagi, dengan memberikan karpet merah bagi investor hulu migas untuk masuk. Kesuksesan pemerintah mendorong pemerataan infrastruktur ataupun menggulirkan dana desa, sepertinya dapat diimplementasikan di sektor hulu migas. 

Presiden perlu turun tangan langsung, mengawasi dan mencari solusi untuk memudahkan investor melakukan eksplorasi di Tanah Air. Saatnya, Jokowi masuk ke sektor hulu migas. Campur tangan langsung Presiden di sektor hulu migas dinilai perlu mengingat pemerintah tidak memiliki anggaran yang cukup untuk melakukan eksplorasi atau studi pencarian cadangan migas di wilayah terbuka.

Bisnis Indonesia, Page-24, Monday, Dec 17, 2018

2 Blocks Immediately Switch to Net Revenue Sharing

Two contract contractors will change the scheme of net profit sharing contracts to gross profit sharing. The signing of the second oil and gas block contract is targeted for January 2019.

So far, gross split contracts have been applied to new contracts. However, the two upstream oil and gas companies plan to change cost recovery contracts into gross profit sharing. The government provides an opportunity for contractors to continue to use the cost recovery scheme until the oil and gas block contracts they manage end.

Working Area of Gross Split

In the cost recovery contract scheme, the profit share received by the contractor is already clean, while all production costs will be replaced through the Negaua (APBN) income and expenditure budget. Conversely, through the gross split scheme, the profit sharing received by the contractor includes the production costs incurred to produce oil and gas.

Before the two blocks, the Ministry of Energy and Mineral Resources (ESDM) signed a new East Sepinggan Block contract located in the Makassar Strait to become a gross split from the previous cost recovery. So far, gross split contracts have been used for oil and gas blocks whose contracts have expired and will sign new contracts.

Arcandra Tahar 

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar acknowledged that his party is still evaluating two oil and gas block contracts that will change from the cost recovery scheme to gross profit sharing contracts. However, Arcandra did not mention the second contract for the oil and gas block to be changed.

"Maybe the third week of January 2019, this is the existing contract [existing contract] and [oil and gas block] conventional," he said.

Reflecting on the contract changes that occurred in the management of the East Sepinggan Block, the government promised gross split contracts to be more efficient than using a net profit sharing contract scheme. Sepinggan Block contracts are changed and cost recovery becomes gross split. Arcandra said that the transition from cost recovery to gross split can be done in a short time, which is less than 1 month.

Eni S.p.A.

In addition, according to him, using the gross split scheme will be simpler and the right moment for cooperation contract contractors (KKKS) to make efficient management of oil and gas fields. With the change in the contract regime, Eni S.p.A., an oil and gas company from Italy, needs to make changes to the proposal to develop Merakes Field which has been approved with the concept of cost recovery. Eni finally used a gross profit sharing scheme in the management of Merakes Field.

Merakes Field East Kalimantan

However, Arcandra was reluctant to talk about the change in investment value issued by the Italian contractor by changing the contract scheme. When starting production, Arcandra explained that Merakes Field, East Sepinggan Block could reach 155 million cubic feet per day (MMscfd) and will reach the highest production point around, 391 MMscfd.

In addition, this field has natural gas reserves of 814 billion cubic feet (bd). The economic age of the East Sepinggan Block is estimated to be 9 years since the first production. Arcandra added that the project will start operating in 2021 or change from the initial target at the end of next year.

ENI S.P.A

Eni obtains a share of 67% for oil and gas 72% which is a cumulative base split and variable profit sharing. By using the scheme, Eni agreed to increase the local product content on projects in the Field Merakes at the base of 30% to 50%.

ENI S.P.A

Eni has 85% of the management rights (share participation) in the East Sepinggan Block, while 15% is owned by PT Pertamina Hulu Energi East Sepinggan. Related to the agreement on contract changes, SKK Migas is optimistic that natural gas production in the offshore oil and gas blocks in the Makassar Strait is faster than the year set.

Dwi Soetjipto

SKK Migas Head Dwi Soetjipto said that if initially set in 2021, the first production should be faster than the target.

"Yes it was [the first production target] in 2021, it is expected that [production] can be faster than 2021," he said.

In addition, the project can operate faster because the project contractor has changed the cooperation scheme from the original cost recovery to gross split.

"We see the acceleration in its implementation. In the past, cost recovery was due to having to go back and forth to SKK Migas if you would spend money. If this is their [gross split] [which determines production costs, "he added.

OIL AND GAS PROJECT

Meanwhile, SKK Migas stated that the six upstream oil and gas projects that have been operating in 2018 have crude oil production capacity of 15,000 barrels per day (bpd) and natural gas of 105 MMscfd. The total value of the project is US $ 300 million.

Wisnu Prabawa Taher, Head of the SKK Migas Program and Communication Division, said that the upstream oil and gas project consists of 3 projects in Sumatra, 2 projects on Java, and 1 project in Kalimantan.

"[The upstream oil and gas project] is based on the operator, four projects are owned by Pertamina and two projects by MedcoEnergi," he said.

PT Pertamina EP

The project located in the Sumatra region was an optimization of the East SKC Musi exhaust gas by PT Pertamina EP with an investment of US $ 11.3 million. The gas production capacity of the project is 15 MMscid. Wisnu said that the project had been operating since March 2018.

Two other oil and gas upstream projects that have been operating are Block A Field Development by PT Meclco Blok A and optimization of Lica Field production facilities by PT Medco EP Indonesia. Block A's design, procurement and construction (EPC) Block A value is US $ 253.7 million with an oil production capacity of 3,100 bpd and natural gas 55 MMscfd.

"This project estimates the highest production level of 3,100 bpd and [natural gas] 55 MMscfd in November 2018," he said.

Optimization of the Lica Field production facility requires EPC investment worth US $ 8.5 million with a production capacity of 4,000 bpd. Estimated production is as high as 3,700 bpd. The Lica Field Project is expected to start operating in December 2018. At present, the progress of the Lica Field project has reached 94%.

Wisnu explained, the upstream oil and gas project on Java Island was on the SP, Blok ONWJ field by PT Pertamina Hulu Energi ONWJ with EPC investments worth US $ 50.7 million. The capacity of SP Field production facilities is 30 MMscfd with estimated gas production at the highest level of 30 MMscfd.

IN INDONESIAN

2 Blok Segera Beralih ke Bagi Hasil Bersih

Dua kontraktor Kontrak keria sama akan mengubah skema kontrak bagi hasil bersih ke bagi hasil kotor. Penandatanganan kontrak kedua blok minyak dan gas bumi ini ditargetkan pada Januari 2019.

Selama ini, kontrak bagi hasil kotor (gross split) diterapkan pada kontrak baru. Namun, kedua perusahaan hulu migas itu berencana untuk mengubah kontrak bagi hasil bersih (cost recovery) menjadi bagi hasil kotor. Pemerintah memberikan kesempatan kepada kontraktor untuk tetap memakai skema cost recovery hingga kontrak blok migas yang dikelolalnya berakhir.

Dalam skema kontrak cost recovery, bagi hasil yang diterima kontraktor sudah bersih, sedangkan seluruh biaya produksi akan diganti melalui anggaran pendapatan dan belanja Negaua (APBN). Sebaliknya, melalui skema gross split, bagi hasil yang diterima kontraktor sudah termasuk biaya produksi yang dikeluarkan untuk menghasilkan minyak dan gas bumi.

Sebelum kedua blok itu, Kementerian Energi dan Sumber Daya Mineral (ESDM) telah menandatangani kontrak baru Blok East Sepinggan yang berlokasi di Selat Makassar menjadi gross split dari sebelumnya cost recovery. Selama ini, kontrak gross split dipakai untuk blok migas yang sudah berakhir kontraknya dan akan menandatangani kontrak baru. 

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengakui bahwa pihaknya masih mengevaluasi dua kontrak blok minyak dan gas bumi yang akan berubah dari skema pengembalian biaya operasi (cost recovery) ke kontrak bagi hasil kotor. Namun, Arcandra tidak menyebutkan kontrak kedua blok migas yang akan diubah tersebut.

“Kemungkinan pekan ketiga Januari 2019, Ini kontrak existing [kontrak yang sudah ada] dan [blok migas] konvensional,” katanya.

Berkaca dari perubahan kontrak yang terjadi dalam pengelolaan Blok East Sepinggan, pemerintah menjanjikan kontrak gross split lebih efisien daripada menggunakan skema kontrak bagi hasil bersih. Kontrak Blok Sepinggan diubah dan cost recovery menjadi gross split. Arcandra mengatakan bahwa peralihan dari cost recovery ke gross split bisa dilakukan dalam waktu cepat, yaitu kurang dari 1 bulan. 

Selain itu, menurutnya, menggunakan skema gross split akan lebih sederhana dan menjadi momen tepat bagi kontraktor kontrak kerja sama (KKKS) untuk melakukan efisiensi pengelolaan lapangan migas. Dengan adanya perubahan rezim kontrak ini, Eni S.p.A., perusahaan migas dari Italia, perlu melakukan perubahan proposal pengembangan Lapangan Merakes yang sudah disetujui dengan konsep cost recovery. Eni akhirnya menggunakan skema bagi hasil kotor dalam pengelolaan Lapangan Merakes. 

Namun, Arcandra enggan bicara perubahan nilai investasi yang dikeluarkan kontraktor dari Italia itu dengan mengubah skema kontrak. Ketika mulai berproduksi, Arcandra memperikaran bahwa Lapangan Merakes, Blok East Sepinggan bisa mencapai 155 juta kaki kubik per hari (MMscfd) dan akan mencapai titik produksi tertinggi sekitar ,391 MMscfd.

Selain itu, lapangan ini memiliki cadangan gas bumi sebesar 814 miliar kaki kubik (bd). Untuk usia lapangan ekonomis Blok East Sepinggan diperkirakan selama 9 tahun sejak produksi pertama. Arcandra menambahkan bahwa proyek ini akan mulai beroperasi pada 2021 atau mengalami perubahan dari target awal pada akhir tahun depan.

Eni memperoleh bagi hasil 67% untuk minyak dan gas bumi 72% yang merupakan kumulatif bagi hasil awal (base split) dan bagi hasil variabel. Dengan menggunakan skema tersebut, Eni sepakat untuk meningkatkan kandungan produk lokal pada proyek di Lapangan Merakes di alas 30% hingga 50%.

Eni memiliki hak kelola (saham partisipasi) sebesar 85% di Blok East Sepinggan, sedangkan 15 % dimiliki oleh PT Pertamina Hulu Energi East Sepinggan. Terkait dengan disepakatinya perubahan kontrak, SKK Migas optimistis produksi gas bumi di blok migas lepas pantai di Selat Makassar itu lebih cepat dari tahun yang ditetapkan.

Kepala SKK Migas Dwi Soetjipto mengatakan bahwa jika pada awalnya ditetapkan pada 2021, sebaiknya produksi pertama akan lebih cepat dari target tersebut. 

“Iya tadinya [target produksi pertama] 2021, diharapkan bisa [produksi] lebih cepat dari 2021,” katanya.

Selain itu, proyek tersebut dapat beropeasi lebih cepat karena kontraktor proyek tersebut telah mengubah skema kerja sama dari yang semula cost recovery menjadi gross split.

“Kami lihat percepatan itu dalam implementasinya. Kalau dulu cost recovery karena harus bolak-balik ke SKK Migas kalau akan keluarkan uang. Kalau ini [gross split] mereka sendiri [yang menentukan biaya produksi," imbuhnya.

PROYEK MIGAS

Sementara itu, SKK Migas menyatakan bahwa enam proyek hulu migas yang telah beroperasi pada 2018 memiliki kapasitas produksi minyak mentah sebesar 15.000 barel per hari (bph) dan gas bumi 105 MMscfd. Total nilai proyek tersebut sebesar US$ 300 juta.

Wisnu Prabawa Taher, Kepala Divisi Program dan Komunikasi SKK Migas, mengatakan bahwa proyek hulu migas tersebut terdiri atas 3 proyek di Sumatra, 2 proyek di Pulau Jawa, dan 1 proyek di Kalimantan. 

“[Proyek hulu migas] berdasarkan operator, empat proyek dimiliki oleh Pertamina dan dua proyek oleh MedcoEnergi,” katanya.

Proyek yang berlokasi di wilayah Sumatra itu berupa optimasi gas buang SKC Musi Timur oleh PT Pertamina EP dengan investasi US$ 11,3 juta. Kapasitas produksi gas dari proyek itu sebanyak 15 MMscid. Wisnu menyebutkan bahwa proyek tersebut sudah beroperasi sejak Maret 2018.

Dua proyek hulu migas lain yang sudah beroperasi adalah Block A Field Development oleh PT Meclco Blok A serta optimasi fasilitas produksi Lapangan Lica oleh PT Medco EP Indonesia. Nilai proyek desain, pengadaan, dan konstruksi (engineering, procurement, & construction/EPC) Blok A sebesar US$ 253,7 juta dengan kapasitas produksi minyak 3.100 bph dan gas bumi 55 MMscfd.

“Proyek ini estimasi produksi level tertinggi sebesar 3.100 bph dan [gas bumi] 55 MMscfd pada November 2018,” katanya.

Optimasi fasilitas produksi Lapangan Lica membutuhkan investasi EPC senilai US$ 8,5 juta dengan kapasitas produksi sebesar 4.000 bph. Estimasi produksi teninggi sebesar 3.700 bph. Proyek Lapangan Lica itu diperkirakan mulai beroperasi Desember 2018. Saat ini, progres proyek Lapangan Lica telah mencapai 94%. 

Wisnu menjelaskan, proyek hulu migas di Pulau Jawa berada di lapangan SP, Blok ONWJ oleh PT Pertamina Hulu Energi ONWJ dengan investasi EPC senilai US$ 50,7 juta. Kapasitas fasilitas produksi Lapangan SP sebesar 30 MMscfd dengan estimasi produksi gas pada level tertinggi sebesar 30 MMscfd.

Bisnis Indonesia, Page-24, Monday, Dec 17, 2018

The Cilacap Refinery Project Awaits the Asset Valuation Agreement

PT Pertamina (Persero) and Saudi Aramco have not yet completed the establishment of a joint venture that will be tasked with working on upgrading and upgrading capacity of Cilacap Refinery. Because the two state-owned oil and gas companies have not yet agreed on the valuation of the existing assets of the Cilacap refinery.

the Cilacap refinery

The Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said, the Cilacap Refinery Project is still under evaluation in relation to how the partnership with Saudi Aramco so that Pertamina can benefit in accordance with the business framework that is cooperated. One of them is related to asset valuation agreements that will be included in the JV.

Saudi Aramco

"The valuation of these assets has not been agreed. It must be calculated in detail, "he said in Jakarta.

He explained, Pertamina and partners must first agree on the value of these assets before the project starts, because the results of the asset valuation agreement will determine how much money is included. At present, Pertamina has finalized the asset valuation and is still awaiting an agreement from Saudi Aramco. Arcandra added, even though there was no agreement, cooperation with Saudi Aramco would continue.

"As far as I know (not looking for another partner), it's still the same as Saudi Aramco in Cilacap," he said.

Nicke Widyawati

Previously, Pertamina's Managing Director Nicke Widyawati revealed that for the Cilacap Refinery Project, the company was still finalizing the establishment of a joint venture company. However, continued Nicke, his side continued to work on this project.

"We are doing land clearing in Cilacap," Nicke said.

Saudi Aramco Refinery

Pertamina and Saudi Aramco have signed an agreement to establish a joint venture agreement (JVA) since the end of 2016. In the joint venture, Pertamina plans to hold 55% ownership and 45% of Saudi Aramco. Two years after the signing of the JVA, the two oil and gas companies have not yet realized the establishment of a joint venture company.

Some time ago, Pertamina revealed its plan to spin off the new Cilacap Refinery unit that will be carried out to be transferred to a joint venture formed to work on this project. If Saudi Aramco intends to continue working together, and other companies want to join, they can enter the company.

The spin off plan has received a green light from the Ministry of BUMN. The Cilacap refinery is targeted to start operating in 2024 backing from the initial plan in 2022. After upgrading, the crude oil processing capacity of the Cilacap Refinery will increase from 348 thousand barrels per day (bpd) to 400 thousand bpd.

Furthermore, there will be additional production of gasoline (gasoline) 80 thousand bpd, diesel fuel 60 thousand bpd, and avtur of 40 thousand bpd. Increased fuel production Significant because the refinery's ability to process crude oil into finished products (NCI) rose from 74% to 92-98%.

Tuban Refinery

Regarding the Tuban Refinery Project of 300 thousand bpd, Arcandra stressed that the refinery project location was canceled.

"The Tuban refinery is not moved, still (in Tuban)," her said. However, he admitted that land acquisition for this project had not yet been completed. "It's being released (land), it's being worked on," Nicke said.

Previously, Nicke admitted that land acquisition needed for the construction of an 800-hectare refinery was still an obstacle. At the location of the plan to be built by the refinery, there is 350 hectares of land owned by the Ministry of Environment, while the rest belongs to the community. Nicke said, in the last three years, his party had made various efforts to complete the land acquisition.

"To follow up on the request of the Minister of Energy and Mineral Resources, Pertamina will send a team to complete the land acquisition, so in this month we will send another team to solve this land problem," Nicke explained.

In fact, previously Pertamina and the East Java Provincial Government had previously signed a memorandum of understanding on the use of land assets of the Ministry of Environment and Forestry in Tanjung Awar-Awar, Tuban. In the memorandum of understanding, the East Java Provincial Government supports the Ministry of Environment and Forestry's land use for the construction of the Tuban Refinery.

Rosneft Refinery

Pertamina cooperates with the Russian oil and gas company, Rosneft Oil Company in working on the Tuban Refinery. The two companies have formed a joint venture, namely PT Pertamina Rosneft Pengolahan and Petrokirnia (PRPP), which will work on the Tuban Refinery Project worth US $ 15 billion. Pertamina holds a 55% shareholding and Rosneft 45%.

The plan, Tuban Refinery will produce gasoline (gasoline) products of 80 thousand bpd, solar 90 thousand bpd, and 26 thousand bp avtur. Not only that, Tuban Refinery will also produce new petrochemical products. The details of this product are polypropylene 1.3 million tons per year, polyethylene 0.65 million tons per year, styrene 0.5 million tons per year and paraxylene 1.3 million tons per year.

As is known, Pertamina is working on six refinery projects at once, both new units and increasing capacity and quality of existing refineries. Construction of two new units in Tuban, East Java and Bontang, East Kalimantan, as well as repairs to four existing refineries spread in Balongan, West Java; Balikpapan, East Kalimantan; Durnai, Riau; and Cilacap, Central Java.

The funds needed to complete this project are very large, namely around US $ 30 billion. All projects are targeted to be completed by 2026.

IN INDONESIAN

Proyek Kilang Cilacap Tunggu Kesepakatan Valuasi Aset

PT Pertamina (Persero) dan Saudi Aramco belum juga merampungkan pembentukan perusahaan patungan (joint venture) yang akan bertugas mengerjakan peningkatan dan perbaikan kapasitas (upgrading) Kilang Cilacap. Pasalnya, kedua perusahaan migas milik pemerintah ini belum juga menyepakati valuasi aset eksisting kilang Cilacap.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengatakan, Proyek Kilang Cilacap masih dalam evaluasi terkait bagaimana kemitraan dengan Saudi Aramco agar Pertamina mendapat manfaat sesuai dengan kerangka bisnis yang dikerjasamakan. Salah satunya terkait kesepakatan valuasi aset yang akan disertakan dalam JV.

“Perhitungan valuasi asetnya ini yang belum sepakat. Kan harus dihitung secara detailnya,” kata dia di Jakarta.

Dia menjelaskan, Pertamina dan mitra harus sepakat dulu untuk nilai aset ini sebelum proyek dimulai, Pasalnya, hasil kesepakatan valuasi aset akan menentukan berapa uang yang disertakan. Saat ini, Pertamina telah merampungkan valuasi aset tersebut dan masih menunggu kesepakatan dari Saudi Aramco. Arcandra menambahkan, meski belum ada kesepakatan, kerja Sama dengan Saudi Aramco tetap akan dilanjutkan. 

“Setahu saya tidak (mencari partner lain), tetap sama Saudi Aramco di Cilacap,” ujarnya.

Sebelumnya, Direktur Utama Pertamina Nicke Widyawati mengungkapkan, untuk Proyek Kilang Cilacap, perseroan masih melakukan finalisasi pembentukan perusahaan patungan. Namun, lanjut Nicke, pihaknya terus mengerjakan proyek ini.

“Kami lakukan land clearing di Cilacap,” kata Nicke.

Pertamina dan Saudi Aramco telah menandatangani perjanjian pembentukan perusahaan patungan (joint venture agreement/JVA) sejak akhir 2016. Dalam perusahaan patungan itu, Pertamina rencananya memegang kepemilikan 55% dan Saudi Aramco 45%. Dua tahun berselang sejak ditekennya JVA, kedua perusahaan migas ini belum juga merealisasikan pembentukan perusahaan patungan.

Beberapa waktu lalu, Pertamina mengungkapkan rencananya untuk melakukan spin off unit baru Kilang Cilacap yang akan dikerjakan untuk dialihkan ke perusahaan patungan yang dibentuk untuk menggarap proyek ini. Jika Saudi Aramco berniat tetap melanjutkan kerja sama, maupun perusahaan lain ingin bergabung, mereka bisa masuk ke perusahaan tersebut.

Rencana spin off tersebut telah mendapat lampu hijau dari Kementerian BUMN. Kilang Cilacap ditargetkan mulai beroperasi pada 2024 mundur dari rencana awal pada 2022. Pasca upgrading, kapasitas pengolahan minyak mentah Kilang Cilacap akan naik dari 348 ribu barel per hari (bph) menjadi 400 ribu bph. 

Selanjutnya, akan ada tambahan produksi bensin (gasoline) 80 ribu bph, solar 60 ribu bph, dan avtur 40 ribu bph. Prorfuksi bahan bakar naik signitikan lantaran kemampuan kilang mengolah minyak mentah menjadi produk jadi (NCI) naik dari 74% menjadi 92-98%.

Kilang Tuban

Terkait Proyek Kilang Tuban 300 ribu bph, Arcandra menegaskan bahwa lokasi proyek kilang ini batal dipindah. 

“Kilang Tuban tidak dipindah, tetap (di Tuban),” kata dia. Namun, diakuinya memang pembebasan lahan untuk proyek ini belum rampung. “Sedang dibebaskan (lahannya) , sedang diusahakan,” kata Nicke.

Sebelumnya, Nicke mengakui, pembebasan lahan yang dibutuhkan untuk pembangunan kilang seluas 800 hektar masih menjadi kendala. Di lokasi rencana yang akan dibangun kilang, ada lahan milik Kementerian Lingkungan Hidup seluas 350 hektar, sementara sisanya milik masyarakat. Dikatakan Nicke, dalam tiga tahun terakhir, pihaknya sudah melakukan berbagai upaya untuk merampungkan pembebasan lahan ini. 

“Untuk menindaklanjuti permintaan Menteri ESDM agar Pertamina kembali mengirimkan tim untuk menyelesaikan pembebasan lahan, maka dalam bulan ini segera kami akan kirim tim lagi untuk menyelesaikan masalah lahan ini,” jelas Nicke.

Padahal, sebelumnya Pertamina dan Pemerintah Provinsi Jawa Timur sebelumnya telah menandatangani nota kesepahaman pemanfaatan lahan aset Kementerian Lingkungan Hidup dan Kehutanan di Tanjung Awar-Awar, Tuban. Dalam nota kesepahaman itu, Pemprov Jawa Timur mendukung pemanfaatan lahan Kementerian Lingkungan Hidup dan Kehutanan untuk pembangunan Kilang Tuban.

Pertamina menggandeng perusahaan migas Rusia, Rosneft Oil Company dalam mengerjakan Kilang Tuban. Kedua perusahaan itu telah membentuk perusahaan patungan, yakni PT Pertamina Rosneft Pengolahan dan Petrokirnia (PRPP), yang akan menggarap Proyek Kilang Tuban senilai US$ 15 miliar. Pertamina memegang kepemilikan saham 55% dan Rosneft 45%.

Rencananya, Kilang Tuban akan menghasilkan produk bensin (gasoline) sebesar 80 ribu bph, solar 90 ribu bph, dan avtur 26 ribu bph. Tidak hanya itu, Kilang Tuban juga akan memproduksi produk-produk baru petrokimia. Rincian produk ini adalah polipropilen 1,3 juta ton per tahun, polietilen 0,65 juta ton per tahun, stirena 0,5 juta ton per tahun dan paraksilen 1,3 juta ton per tahun.

Seperti diketahui, Pertamina mengerjakan enam proyek kilang sekaligus, baik unit baru maupun peningkatan kapasitas dan kualitas dari kilang yang ada. Pembangunan dua unit baru di Tuban, Jawa Timur dan Bontang, Kalimantan Timur, serta perbaikan empat kilang eksisting yang tersebar di Balongan, Jawa Barat; Balikpapan, Kalimantan Timur; Durnai, Riau; serta Cilacap, Jawa Tengah.

Dana yang dibutuhkan untuk merampungkan proyek ini sangat besar, yakni Sekitar US$ 30 miliar. Seluruh proyek ditargetkan rampung pada 2026.

Investor Daily, Page-9, Saturday, Dec 15, 2018