Upstream Oil and Gas Investment is Targeted at US $ 14.79 M

The government targets national upstream oil and gas investment of US $ 14.79 billion this year, up 24.28 percent from last year's realization of US $ 11.9 billion. Increased investment is driven by the presence of several large oil and gas projects that are now under construction.

Dwi Soetjipto

Head of the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) Dwi Soetjipto said, this year, the national oil and gas lifting target is set at 2.25 million barrels of oil equivalent per day. In particular, oil production is targeted at 775 thousand barrels per day (bpd) and gas 1.25 million barrels of oil equivalent per day. To realize this target, the company set a target for oil and gas investment this year of US $ 14.79 billion.

"The investment plan for 2019 is US $ 14.79 billion, from the 2018 realization of US $ 11.9 billion," he said.

Dwi added, one of the strategies was carried out so that oil and gas lifting was in accordance with the target by ensuring that the investment went according to plan. Primarily, it will encourage investment in oil and gas projects that are still under development.

"So the steps are how to increase monitoring and control of these projects," he said.

The same thing was also expressed by the Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM) Djoko Siswanto. It is also optimistic that this year's oil and gas investment will improve, considering there are several large oil and gas projects that are still under construction.

Eni Indonesia

"Optimistic because this year Eni Indonesia has set Merakes (investment) of US $ 1.3 billion, Train-3 Tangguh is still on the road, and JTB (Jambaran Tiung Biru) is US $ 1.6 billion. Of those three, it has been large (investment), "he explained.

This year, Eni Indonesia began working on the development of the Merakes Field, Sepinggan East Block. The project with a total investment of US $ 1.3 billion is targeted to be completed by 2021. 

PT Pertamina EP Cepu

    Furthermore, since the end of last year, PT Pertamina EP Cepu began working on the JTB Project worth US $ 1.55 billion with a target of completion in 2021. 

BP Indonesia

    Then, BP Indonesia is now is working on Train-3 of Tangguh's US $ 8 billion liquefied natural gas (LNG) refinery. The project, which was carried out by a company from England since 2016, is targeted to be completed by 2020

Not only from the new project, Dwi said, efforts to achieve the lifting target will also be sought from enhanced oil recovery / EOR.

"We will ensure the preparation of EOR projects. Then it can work better with KKKS (cooperation contract contractors / KKKS) to help them increase their lifting, "he said.

Referring to data from the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), by 2030, oil production is projected to only amount to 281 thousand bpd. However, if EOR is successfully implemented, oil production can be increased to 520 thousand bpd by 2030. In SKK Migas data, additional production from activities, EOR is projected to enter in 2025.

Not Reaching Target

In 2018, the realization of national oil and gas lifting is still below the target of 2 million barrels of oil equivalent per day, which is 1.91 million barrels of oil equivalent per day. In detail. the realization of oil lifting is 778 thousand bpd from the target of 800 thousand bpd. While the realization of gas lifting is 1.13 million barrels of oil equivalent per day from the target of 1.2 million barrels of oil equivalent per day.

Compared to 2017 realization, last year's oil and gas lifting was lower. In 2017, the realization of oil and gas lifting reached 1.94 million barrels of oil equivalent per day. However, last year's realization of upstream oil and gas investment was US $ 11.9 billion, higher and 2017 which was US $ 9.33 billion.

According to Djoko, the increase in investment does not mean an increase in oil and gas lifting because the oil and gas project is long-term.

"Even though lifting is down, a big investment is due to issuing costs now," he said.

In addition, investment is needed to keep national oil and gas production from being cut significantly. Because, without investment and activities, the rate of decline in oil and gas production can reach more than 11%.

"In order not to become a decline, development is used. The existing [oil and gas block] also develops so that it does not go down [production] by 11%, "he explained.

Exxon Mobil Cepu Limited for the Cepu

Dwi explained, the three biggest oil producers in 2018 were PT Chevron Pacific Indonesia for the Rokan Block 213 thousand bpd, Exxon Mobil Cepu Limited for the Cepu Block 209,314 bpd, and Pertamina EP 79,910 bpd.

PT Chevron Pacific Indonesia

IN INDONESIAN

Investasi Hulu Migas Ditargetkan US$ 14,79 M

Pemerintah menargetkan investasi hulu migas nasional sebesar US$ 14,79 miliar pada tahun ini, naik 24,28% dari realisasi tahun lalu sebesar US$ 11,9 miliar. Peningkatan investasi didorong adanya beberapa proyek migas besar yang kini dalam pengerjaan.

Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Dwi Soetjipto menuturkan, pada tahun ini, target lifting migas nasional ditetapkan sebesar 2,25 juta barel setara minyak per hari. Rincinya, produksi minyak ditargetkan sebesar 775 ribu barel per hari (bph) dan gas 1,25 juta barel setara minyak per hari. Untuk merealisasikan target tersebut, pihaknya menetapkan target investasi migas tahun ini US$ 14,79 miliar. 

“Rencana investasi tahun 2019 adalah US$ 14,79 miliar, dari realisasi 2018 sebesar US$ 11,9 miliar,” katanya.

Dwi menambahkan, salah satu strategi yang dilakukan agar lifting migas sesuai target yakni dengan memastikan investasi berjalan sesuai rencana. Utamanya, pihaknya akan mendorong investasi pada proyek-proyek migas yang masih dalam tahap pengembangan. 

“Jadi langkahnya bagaimana tingkatkan monitoring dan control proyek-proyek ini,” ujarnya.

Hal senada juga diungkapkan oleh Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Djoko Siswanto. Pihaknya pihaknya juga optimistis investasi migas tahun ini akan membaik, mengingat ada beberapa proyek migas besar yang masih dalam pengerjaan.

“Optimis karena tahun ini Eni Indonesia sudah tetapkan Merakes (investasi) US$ 1,3 miliar, Train-3 Tangguh masih jalan, dan JTB (Jambaran Tiung Biru) US$ 1,6 miliar. Dari tiga itu saja, sudah besar (investasi),”jelas dia. 

Pada tahun ini, Eni Indonesia mulai mengerjakan pengembangan Lapangan Merakes, Blok East Sepinggan. Proyek dengan nilai investasi total US$ 1,3 miliar ini ditargetkan rampung pada 2021. Selanjutnya, sejak akhir tahun lalu, PT Pertamina EP Cepu mulai menggarap Proyek JTB senilai US$ 1,55 miliar dengan target penyelesaian pada 2021. 

    Kemudian, BP Indonesia kini sedang mengerjakan Train-3 kilang gas alam cair (liquefied natural gas/LNG) Tangguh senilai US$ 8 miliar. Proyek yang dikerjakan perusahaan dari Inggris sejak 2016 lalu itu ditargetkan rampung pada 2020

Tidak hanya dari proyek baru, Dwi menuturkan, upaya pencapaian target lifting juga akan diupayakan dari kegiatan pengurasan minyak tahap lanjut (enhanced oil recovery/EOR). 

“Kami akan memastikan persiapan proyek-proyek EOR. Kemudian bisa kerja sama lebih bagus dengan KKKS (kontraktor kontrak kerja sama/KKKS) untuk membantu mereka tingkatkan lifting,” kata dia.

Mengacu data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), pada 2030, produksi minyak diproyeksikan hanya akan sebesar 281 ribu bph. Namun, jika EOR berhasil dilaksanakan, produksi minyak dapat ditingkatkan menjadi 520 ribu bph pada 2030. Dalam data SKK Migas, tambahan produksi dari kegiatan, EOR diproyeksikan akan masuk pada 2025.

Tidak Mencapai Target

Pada 2018, realisasi lifting migas nasional tercatat masih di bawah target 2 juta barel setara minyak per hari, yakni sebesar 1,91 juta barel setara minyak per hari. Rincinya. realisasi lifting minyak sebesar 778 ribu bph dari target 800 ribu bph. Sementara realisasi lifting gas sebesar 1,13 juta barel setara minyak per hari dari target 1,2 juta barel setara minyak per hari.

Jika dibandingkan realisasi 2017, lifting migas tahun lalu tercatat lebih rendah. Pada 2017, realisasi lifting migas mencapai 1,94 juta barel setara minyak per hari. Meski demikian, realisasi investasi hulu migas tahun lalu sebesar US$ 11,9 miliar, justru lebih tinggi dan 2017 yang sebesar US$ 9,33 miliar.

Menurut Djoko, kenaikan investasi bukan berarti peningkatan lifting migas karena proyek migas bersifat jangka panjang.

“Meskipun lifting turun, investasi besar karena mengeluarkan biayanya sekarang,” ujarnya.

Selain itu, investasi diperlukan untuk menjaga produksi migas nasional tidak terpotong secara signifikan. Pasalnya, tanpa ada investasi dan kegiatan, maka laju penurunan produksi migas bisa mencapai lebih dari 11%. 

“Supaya tidak jadi penurunan inilah yang dipakai development. [Blok migas] eksisting itu juga melakukan development agar tidak turun [produksinya] 11%,” jelas dia.

Dwi memaparkan, tiga produsen minyak terbesar di 2018 yakni PT Chevron Pacific Indonesia untuk Blok Rokan 213 ribu bph, Exxon Mobil Cepu Limited untuk Blok Cepu 209.314 bph, dan Pertamina EP 79.910 bph.

Investor Daily, Page-9, Saturday, Jan 5, 2019

Pertamina EP Cepu Performs EPC I Prime Placement

PT Pertamina EP Cepu (PEPC) conducted a premiere of the EPC Gas Processing Facilitation (GPF) project to develop the Jambaran - Tiung Biru (JTB) unitization gas field in Bojonegoro - East Java - Indonesia.

The event was attended by Upstream Director of PT Pertamina (Persero) Dharmawan H. Samsu, SKK Migas Deputy Operation Fatar Yani Abdurrahman, and Chairman of the Bojonegero Regional Representative Council (DPRD) Sigit Kusharijanto. The Jambaran-Tiung Biru (JTB) project managed by PEPC is one of the National Strategic Projects (PSN) set by the Committee for the Acceleration of Priority Infrastructure Provision (KPPIP).

Upstream Director of Pertamina Dharmawan H. Samsu said the establishment of the Prime EPC Gas Processing Facility was one of the important momentum of the JTB project.

"The GPF EPC project functions to produce gas and condensate from the Jambaran-Tiung Biru Unitization Field with an average raw gas production of 315 MMSCFD and onstream / commercial gas targets in 2021 with gas sales of 192 MMSCFD. GPF will be built using technology and designed to get operational reliability and be environmentally friendly to produce for 25 years, "explained Dharmawan.

While PEPC's Managing Director, Jamsaton Nababan, explained that currently, the progress of the EPC GPF has reached 12% and it is expected that progress will progress further in accordance with the S-Curve agreed between PEPC and the RJJ consortium as the executor of the work.

"This work is carried out in parallel and simultaneously from the Engineering, Procurement, and Construction work so that the Commissioning and Project Completion EPC GPF can be implemented in 2021," said Jamsaton.

The gas production of 192 MMSCFD will later be channeled through the Gresik-Semarang transmission pipeline. With JTB gas reserves of 2.5 trillion cubic feet (TCF), JTB is expected to provide a multiplier effect, especially to overcome the gas supply deficit in Central and East Java.

Chairman of the Bojonegoro DPRD Sigit Kusharijanto expressed his support for the JTB project which could provide a multiplier effect for the Bojonegoro community. Furthermore, Sigit also appreciated PEPC's efforts to implement the Corporate Social Responsibility (SCR) program in the Bojonegoro region.

IN INDONESIAN

Pertamina EP Cepu Lakukan Pemancangan Perdana EPC I

PT Pertamina EP Cepu (PEPC) lakukan pemancangan Perdana EPC Gas Processing Facisilty (GPF) proyek pengembangan lapangan gas unitisasi Jambaran - Tiung Biru (JTB) di Bojonegoro - Jawa timur - Indonesia.

Acara tersebut di hadiri Direktur Hulu PT Pertamina (Persero) Dharmawan H Samsu, Deputi Operasi SKK MIGAS Fatar Yani Abdurrahman, dan Ketua Dewan Perwakilan Rakyat Daerah (DPRD) Bojonegero Sigit Kusharijanto. Proyek Jambaran-Tiung Biru (JTB) yang dikelola oleh PEPC merupakan salah satu Proyek Strategis Nasional (PSN) yang telah ditetapkan oleh Komite Percepatan Penyediaan Infrastruktur Prioritas (KPPIP).

Direktur Hulu Pertamina Dharmawan H Samsu mengatakan pemancangan Perdana EPC Gas Processing Facility merupakan salah satu momentum penting dari proyek JTB. 

“Proyek EPC GPF berfungsi memproduksi gas dan kondensat dari Lapangan Unitisasi Jambaran-Tiung Biru dengan produksi rata-rata raw gas sebesar 315 MMSCFD dan target gas onstream/komersil pada 2021 dengan sales gas sebesar 192 MMSCFD. GPF yang akan dibangun menggunakan teknologi dan dirancang untuk mendapatkan keandalan operasi dan ramah lingkungan untuk berproduksi selama 25 tahun,” jelas Dharmawan.

Sementara Direktur Utama PEPC, Jamsaton Nababan, menjelaskan bahwa saat ini, progress EPC GPF telah mencapai 12% dan diharapkan progress akan bertambah maju sesuai dengan S-Curve yang telah disepakati antara PEPC dengan konsorsium RJJ selaku pelaksana pekerjaan. 

“Pekerjaan ini dilakukan secara paralel dan simultan dari pekerjaan Engineering, Procurement, and Construction sehingga dapat dilaksanakan Commissioning dan Project Completion EPC GPF pada tahun 2021,” kata Jamsaton.

Produksi gas sebesar 192 MMSCFD tersebut nantinya akan dialirkan melalui pipa transmisi Gresik-Semarang. Dengan cadangan gas JTB sebesar 2,5 triliun kaki kubik (TCF), JTB diharapkan dapat memberikan multiplier effect, khususnya untuk mengatasi defisit pasokan gas di Jawa Tengah dan Jawa Timur.

Ketua DPRD Bojonegoro Sigit Kusharijanto menyampaikan dukungannya terhadap proyek JTB yang dapat memberikan multiplier effect bagi masyarakat Bojonegoro. Lebih lanjut, Sigit juga mengapresiasi upaya PEPC untuk mengimplementasikan program Corporate Social Responsibility (SCR) di wilayah Bojonegoro.

Investor Daily, Page-9, Saturday, Jan 5, 2019

PEP Performs JTB Gas Development

PT Pertamina EP Cepu (PEPC) conducted the inauguration of the inaugural EPC Gas Processing Facilitation / GPF project for the development of the Jambaran - Tiung Biru unitization gas field in Bojonegoro Regency.

PT Pertamina EP Cepu (PEPC)

Upstream Director of Pertamina Dharmawan Samsu said that the inaugural erection of the EPC Gas Processing Facility was one of the important momentum of the JTB unitization gas field development project.

Jambaran Tiung Biru Gas Field

"The GPF EPC project functions to produce gas and condensate from the Jambaran-Tiung Biru Unitization Field with an average raw gas production of 315 MMSCFD and onstream/commercial gas targets in 2021 with gas sales of 192 MMSCFD," he said.

According to him, the GPF will be built using technology and is designed to get operational reliability and be environmentally friendly to produce for 25 years. PEPC President Director Jamsaton Nababan explained that currently, the EPC GPF progress has reached 12 percent. It is expected that progress will progress further in accordance with the "S-Curve" agreed upon between PEPC and the RJJ consortium as the executor of the work.

"This work is carried out in parallel and simultaneously from the engineering, procurement, and construction work so that the Commissioning and Project Completion EPC GPF can be implemented in 2021," Jamsaton added.

Gas production of 192 MMSCFD will be channeled through the Gresik-Semarang transmission pipeline. With JTB gas reserves of 2.5 trillion cubic feet (TCF), JTB is expected to provide a multiplier effect, especially to overcome the gas supply deficit in Central and East Java.

On that occasion, Chairman of the Bojonegoro Regional People's Representative Council (DPRD) Sigit Kusharijanto expressed his support for the JTB project which can provide a multiplier effect and the implementation of a CSR program that has been ongoing for the Bojonegoro community. 

Blogger Agus Purnomo in SKK Migas

    SKK Migas Deputy Operation Fatar Yani Abdurrahman added that the JTB project was a large project full of challenges and also part of the National Strategic Project.

"We really appreciate PEPC and the RH Consortium, good cooperation, and high professionalism is needed so that the project will be carried out according to plan," he said.

PT Pertamina (Persero) is optimistic that PEPC, which has previously supported 25 percent of national crude oil production through the Banyu Urip Field, will show its commitment to guarding the JTB project so that it is finished on target. The JTB project is projected to increase state revenues from USD 3.61 billion during production sharing contracts (PSC).

Harian Bangsa, Page-4, Saturday, Jan 5, 2019

Pertamina signs Crude oil contracts

State-owned oil and gas holding company Pertamina's wish to reduce crude imports is likely to be granted after it signed crude oil supplycontracts with 11 oil and gas contractors operating in indonesia (KKKS). The contract agreements were based on Energy and Mineral Resources Ministerial Regulation No. 42/2018 on domestic utilization priority of crude oil produced in the country.

Pertamina media communications manager Arya Dwi Paramita said the company, which was appointed by the government to buy crude oil produced in Indonesia, was ready to absorb the crude oil sold by the oil companies.

"It is important to reduce imports and meet domestic demand," Arya said in Jakarta 

He, however, did not explain the details ofthe contracts, including the sclheme’s value. Arya said the volume of the contracts were different for each oil company, depending on the bilateral agreement. He stressed that Pertamina respected the business aspect of each company, adding that it wanted to buy as much crude oil as possible from them.

PT Chevron Pacific Indonesia

The ministry's oil and gas director general, Djoko Siswanto, also declined to elaborate, but he stressed that the volume ot contracts was very high, adding that Pertamina would, for example, buy 90,000 barrels of oil per day (bopd) from PT Chevron Pacific Indonesia. If all the companies sold their crude oil to Pertamina, the company could reduce imports by 225,000 bopd, Djoko said.

Jakarta Post, Friday, Jan 4, 2019

These are 11 Contractors who Supply Oil to Pertamina

PT Pertamina (Persero) has secured an agreement with 11 oil and gas contractors aka the Sania Contract of Work Contractors (KKKS) which will sell domestic-produced crude oil. Negotiations with contractors have reached a contract agreement. Media Communication Manager of PT Pertamina, Arya Dwi Paramita, said that as a party that has the mandate to suppress oil imports, Pertamina is ready to buy crude oil from oil and gas contractors.

PT Chevron Pacific Indonesia

Until now, Pertamina has agreed on an oil purchase contract with 11 contractors. They are RH Petrogas Limited, PT SPR Langgak, PetroChina International Jabung Ltd, PT Bumi Siak Pusako, PT Chevron Pacific Indonesia, SAKA Pangkah Indonesia Ltd, PT Energi Mega Persada Tonga, Petronas Carigali Ketapang I Ltd, Husky CNOOC Madura Ltd, PT Energi Mega Persada Tbk and PetroChina International (Bermuda) Ltd.

Petro China

Petronas Carigali Ketapang I Ltd

Arya stated that by buying crude oil from the 11 oil and gas contractors, Pertamina could supply the needs of crude oil to be processed at domestic refineries.

Husky CNOOC Madura Ltd

"This is important to reduce the burden of imports, which is one of the efforts to meet domestic needs," he said.

But Arya did not want to reveal how the contract of sale and purchase contract to the 11 KKKS, including the contract value and the volume of oil supplied. One thing is certain, the contract volume of crude oil sales between Pertamina and oil and gas contractors varies, according to the agreement and production of each company.

IN INDONESIAN

Inilah 11 Kontraktor yang Pasok Minyak ke Pertamina

PT Pertamina (Persero) telah mengantongi kesepakatan dengan 11 kontraktor migas alias Kontraktor Kontrak Kerja Sania (KKKS) yang akan menjual minyak mentah hasil produksi dalam negeri. Negosiasi dengan para kontraktor sudah mencapai kesepakatan kontrak. Media Communication Manager PT Pertamina, Arya Dwi Paramita, mengatakan sebagai pihak yang mendapatkan amanah untuk menekan impor minyak, Pertamina siap membeli minyak mentah dari kontraktor migas. 

Hingga saat ini Pertamina sudah menyepakati kontrak jual beli minyak dengan 11 kontraktor. Mereka adalah RH Petrogas Limited, PT SPR Langgak, PetroChina International Jabung Ltd, PT Bumi Siak Pusako, PT Chevron Pacific Indonesia, SAKA Pangkah Indonesia Ltd, PT Energi Mega Persada Tonga, Petronas Carigali Ketapang I Ltd, Husky CNOOC Madura Ltd, PT Energi Mega Persada Tbk serta PetroChina International (Bermuda) Ltd. 

Arya mengemukakan, dengan membeli minyak mentah dari 11 kontraktor migas tadi, maka Pertamina bisa menyuplai kebutuhan minyak mentah yang akan diolah di kilang-kilang dalam negeri. 

“HaI ini penting untuk mengurangi beban impor, yang merupakan salah satu upaya untuk memenuhi kebutuhan dalam negeri,” ungkap dia.

     Namun Arya belum mau mengungkapkan bagaimana skema kontrak jual beli kepada 11 KKKS tersebut, termasuk nilai kontrak dan volume minyak yang disuplai. Satu hal yang pasti, volume kontrak penjualan minyak mentah antara Pertamina dan kontraktor migas bervariasi, sesuai kesepakatan dan produksi masing-masing perusahaan.

Kontan, Page-14, Friday, Jan 4, 2019

Block Rokan Contract will be signed soon

The Ministry of Energy and Mineral Resources (ESDM) and PT Pertamina will sign a contract for managing the Rokan Block oil and gas (oil and gas) block, Riau. Actually, this contract was signed no later than the end of December 2018.

ESDM Director General of Oil and Gas (Dirjen Migas) Ministry of Energy and Mineral Resources Djoko Siswanto said that the delay in signing the Rokan Block management contract was due to the government and Pertamina still preparing the draft contract.

"His contract is being prepared. "It should be read by each legal section, then circulated first," he explained.

the Rokan Block

Djoko could not confirm when the new contract for managing the Rokan Block was signed by the government and Pertamina. He just stated, "Immediately".

Beginning in August 2018, the government set Pertamina as the 100% manager of the Rokan Block in Riau. The transfer process will take place starting August 8, 2021. At present, the block is managed by PT Chevron Pacific Indonesia. To get the management rights of the Block Rokan, Pertamina issued a signature bonus of US $ 784 million or around Rp. 11.3 trillion.

Pertamina also agreed to pay a certain five-year commitment of US $ 500 million or Rp. 7.2 trillion in carrying out oil and gas exploitation activities. Pertamina's definite five-year commitment of US $ 500 million will not only be used for the development of the Rokan Block, but also the development of a number of other oil and gas fields that have not yet been explored.

Rokan Block's oil and gas production supports 26% of total national production. This block has 96 fields. Three fields between producing good quality oil are Duri, Minas and Bekasap fields. It has been recorded since 1971 until December 31, 2017, the total production of Block Rokan oil and gas has reached 11.5 billion barrels. Pertamina is also preparing a new subsidiary to sign the oil and gas block contract and manage the Rokan Block.

"So for signing through a new company. Because the Rokan Block is large, it must be managed by a unit that focuses on handling it," said Syahrial Mukhtar, Pertamina's Corporate Secretary.

IN INDONESIAN

Kontrak Blok Rokan Segera Diteken  

Kementerian Energi dan Sumber Daya Mineral (ESDM) dan PT Pertamina akan meneken kontrak pengelolaan blok minyak dan gas bumi (migas) Blok Rokan, Riau. Sebenarnya, kontrak ini ditandatangani paling lambat akhir Desember 2018.

Direktur Jenderal Minyak dan Gas Bumi (Dirjen Migas) Kementerian ESDM Djoko Siswanto menyatakan, penundaan penandatanganan kontrak pengelolaan Blok Rokan itu akibat pemerintah dan Pertamina masih menyiapkan rancangan kontrak tersebut.

“Sedang disiapkan kontraknya. Seharusnya dibaca oleh bagian hukum masing-masing, kemudian diedarkan dulu," terang dia.

Djoko belum bisa memastikan kapan kontrak baru pengelolaan Blok Rokan ditandatangani oleh pemerintah dan Pertamina. Dia hanya menyatakan,  "Secepatnya".

Awal Agustus 2018, pemerintah menetapkan Pertamina sebagai pengelola 100% Blok Rokan di Riau. Proses pengalihannya akan berlangsung mulai 8 Agustus 2021. Saat ini, blok tersebut dikelola oleh PT Chevron Pacific Indonesia. Untuk mendapatkan hak pengelolaan Blok Rokan, Pertamina mengeluarkan bonus tanda tangan sebesar US$ 784 juta atau sekitar Rp 11,3 triliun. 

Pertamina juga setuju membayar komitmen pasti lima tahun sebesar US$ 500 juta atau Rp 7,2 triliun dalam menjalankan aktivitas eksploitasi migas. Komitmen pasti lima tahun sebesar US$ 500 juta yang diajukan Pertamina tidak hanya akan digunakan untuk pengembangan Blok Rokan, melainkan juga pengembangan sejumlah lapangan migas lainnya yang belum dieksplorasi.

Produksi migas Blok Rokan mendukung 26% dari total produksi nasional. Blok ini memiliki 96 lapangan. Tiga lapangan di antara menghasilkan minyak kualitas bagus yaitu lapangan Duri, Minas dan Bekasap. Tercatat sejak beroperasi 1971 hingga 31 Desember 2017, total produksi migas Blok Rokan mencapai 11,5 miliar barel. Pertamina juga sedang menyiapkan anak usaha baru untuk menandatangani kontrak blok migas ini serta mengelola Blok Rokan. 

"Jadi untuk signing melalui perusahaan baru. Karena Blok Rokan besar, jadi harus dikelola oleh satu unit yang fokus menanganinya,” kata Syahrial Mukhtar, Corporate Secretary Pertamina.

Kontan, Page-14, Friday, Jan 4, 2019

Medco Explores Acquisition of Ophir Energy

PT Medco Energi International Tbk (MEDC) through Medco Energi Global Pte Ltd plans to acquire Ophir Energy PlC, an oil and gas exploration and production company based in London and listed on London's Borsa Securities. Ophir Energy has operating and non-operating assets in Africa, Asia and Mexico.

Medco Energi plans to cash in cash all shares that will be issued by Ophir Energy Medco Energi Director Anthony R Mathias in his official explanation stating that the plan is still under discussion.

"Therefore, there is no value for the bids submitted, the amount of funds, the amount of securities to be purchased, and the relationship between the parties who have not yet known," explained Anthony.

He only confirmed, Medco Energi Global had until 28 January 2019 to make an announcement for certainty of the offer to buy Ophir Energy's shares. This does not negatively affect the company's operations, law, financial condition and business continuity.

Meanwhile, Wood Mackenzie Angus Rodger's Research Director in a written statement said that the discussion about Medco Energi's planned takeover of Ophir Energy was a bold step. Although there is no specific value for the acquisition, because it is still waiting for certainty of bidding until January 28, 2019.

Ophir Energy's upstream sector includes assets in Thailand, Vietnam, Indonesia, Malaysia, Equatorial Guinea, and Tanzania. Ophir also has exploration in Mexico and Bangladesh.

"This is a bold step from Medco. If successful, this will create upstream sector power in Southeast Asia, "said Rodger.

At present, Ophir Energy's production is 25 thousand BOEPD. If combined with Medco's 2018 target of 85 thousand BOEPD, it will produce a total production of up to 110 thousand BOEPD. This step will make Medco Energi the seventh largest private oil and gas company in Southeast Asia, above Hess and BP and after Repsol and Total.

The acquisition also adds to non-Asian exposure by adding growth options in Tanzania and Equatorial Guinea to enhance existing positions in Libya, Oman, Yemen, Tunisia and the United States, and will offer exposure to global upstream hotspots off the coast of Mexico, where Ophir recently participated in three blocks.

After Ophir's acquisition of Asia Santos assets last year, according to Angus, the company's portfolio has moved closer to Asia's growth, given Fortuna's problematic FLNG project in Guinea because it is difficult to get funding.

Loan of US $ 500 Million

Previously, two subsidiaries of Medco Energi, namely PT Medco E & P Malaka and PT Medco E & P Tomori Sulawesi, won a loan of US $ 500 million from a syndicate of 15 banks. Medco Energi Corporate Secretary Siendy K Wisandana said, initially, loans came from ANZ, Societe Generale (Socgen), and ING Bank for US $ 500 million. Then the three banks transferred their exposure to 12 other banks.

"That way, as many as 12 of these banks participated. This is usually syndicated, "Siendy said to Investor Daily.

Meanwhile, as reported by Bloomberg, as many as 12 banks participating in the syndication were Bank Mandiri US $ 40.25 million, DBS amounting to US $ 40.25 million, BNP Paribas US $ 22.75 million, and Credit Agricole CIB (CA- CIB) US $ 22.75 million.

Subsequently, Natixis was US $ 22.75 million, Standard Chartered was US $ 22.75 million, and Sumitomo Mitsui Banking Corporation (SMBC) was US $ 22.75 million. The HSBC lead arranger is US $ 19.5 million, while arranger Mizuho is US $ 19.5 million, MUFG is worth US $ 17 million, and UOB is US $ 17 million. According to Siendy, the loan was intended for the purpose of developing and refinancing the Blok A Aceh and Senoro Sulawesi fields.

"Only for that, may not be used for other purposes," he said.

Medco Energi has also won shareholders' approval to cut the target of the capital increase without pre-emptive rights (non-HMETD) from Rp 2.31 trillion to Rp 1.54 trillion. The change in the fund target was due to the movement of the company's stock price, so the assumption of the implementation price was changed from Rp 1,306 to Rp 869 per share.

Medco Energy Managing Director Hilmi Panigoro said, the company has re-proposed a non-HMETD plan of a maximum of 10% at the extraordinary general meeting of shareholders (EGM) on November 15 2018. The company has two years to realize a plan to increase capital through non-HMETD .

Hilmi further said, he felt the need to be careful and be conservative in making choices in managing the company's capital structure.

"Responding to commodity markets, and world equities that are being unstable, we choose to be cautious, and conservative," he stressed.

Regarding the plan to hold non-HMETD, Medco's management was officially informed on October 8, 2018, claiming it was eyeing strategic investors. In detail, strategic investors who are targeted are financial investors (Financial investors).

IN INDONESIAN

Medco Jajaki Akuisisi Ophir Energy

PT Medco Energi lnternasional Tbk (MEDC) melalui Medco Energi Global Pte Ltd berencana mengakuisisi Ophir Energy PlC, perusahaan eksplorasi dan produksi migas berbasis di London dan tercatat di Borsa Efek London. Ophir Energy memiliki aset operasi dan non-operasi di Afrika, Asia, dan Meksiko.

Medco Energi berencana membeli secara tunai seluruh saham yang akan diterbitkan oleh Ophir Energy Direktur Medco Energi Anthony R Mathias dalam penjelasan resminya menyebutkan bahwa rencana tersebut masih dalam pembahasan.

“Karena itu, belum ada nilai tawaran yang diajukan, jumlah dana, jumlah efek yang akan dibeli, dan belum dapat diketahui hubungan antar pihak yang bertransaksi,” jelas Anthony.

Dia hanya menegaskan, Medco Energi Global memiliki waktu hingga 28 januari 2019 untuk melakukan pengumuman untuk kepastian dari penawaran untuk membeli saham Ophir Energy. Hal ini tidak berdampak secara negatif terhadap kegiatan operasional, hukum, kondisi keuangan, dan kelangsungan usaha perseroan. 

Sementara itu, Direktur Penelitian Wood Mackenzie Angus Rodger dalam keterangan tertulis, menilai bahwa pembicaraan mengenai rencana pengambilalihan Ophir Energy oleh Medco Energi merupakan langkah berani. Meski belum ada nilai spesifik untuk akuisisi tersebut, karena masih menunggu kepastian penawaran hingga 28 Januari 2019. 

Sektor hulu yang dimiliki Ophir Energy meliputi aset di Thailand, Vietnam, Indonesia, Malaysia, Guinea Khatulistiwa, dan Tanzania. Ophir juga memiliki eksplorasi di Meksiko dan Bangladesh.

“Ini langkah berani dari Medco. Jika berhasil, ini akan menciptakan kekuatan sektor hulu di Asia Tenggara,” ungkap Rodger.

Saat ini, produksi Ophir Energy sebesar 25 ribu BOEPD. Jika dikombinasikan dengan target 2018 Medco yang sebanyak 85 ribu BOEPD, akan menghasilkan total produksi hingga 110 ribu BOEPD. Langkah ini akan menjadikan Medco Energi sebagai perusahaan migas swasta terbesar ketujuh di Asia Tenggara, di atas Hess dan BP dan setelah Repsol dan Total.

Akuisisi ini juga menambah eksposur non-Asia dengan menambahkan opsi pertumbuhan di Tanzania dan Guinea Khatulistiwa untuk meningkatkan posisi yang ada di Libya, Oman, Yaman, Tunisia, dan Amerika Serikat, serta akan menawarkan eksposur ke hotspot hulu global di lepas pantai Meksiko, di mana Ophir baru-baru ini berpartisipasi di tiga blok. 

Setelah akuisisi Ophir atas aset-aset Asia Santos tahun lalu, menurut Angus, telah mendekatkan poros portofolio perusahaan menuju pertumbuhan Asia, mengingat proyek FLNG Fortuna yang bermasalah di Guinea karena sulit mendapatkan pendanaan.

Pinjaman US$ 500 Juta

Sebelumnya, dua anak usaha Medco Energi, yaitu PT Medco E&P Malaka dan PT Medco E&P Tomori Sulawesi, meraih pinjaman sebesar US$ 500 juta dari sindikasi 15 bank. Sekretaris Perusahaan Medco Energi Siendy K Wisandana mengatakan, pada awalnya, pinjaman berasal dari ANZ, Societe Generale (Socgen), dan ING Bank sebesar US$ 500 juta. Kemudian ketiga bank tersebut mengalihkan eksposurnya ke 12 bank lainnya.

“Dengan begitu, sebanyak 12 bank ini ikut berpartisipasi. Ini kan biasa sindikasi,” kata Siendy kepada Investor Daily.

Sementara itu, seperti dilansir Bloomberg, sebanyak 12 bank yang berpartisipasi dalam sindikasi tersebut adalah Bank Mandiri US$ 40,25 juta, DBS sebesar US$ 40,25 juta, BNP Paribas US$ 22,75 juta, dan Credit Agricole CIB (CA-CIB) US$ 22,75 juta.

Selanjutnya Natixis sebesar US$ 22,75 juta, Standard Chartered US$ 22,75 juta, dan Sumitomo Mitsui Banking Corporation (SMBC) US$ 22,75 juta. Adapun lead arranger HSBC sebesar US$ 19,5 juta, sedangkan arranger Mizuho US$ 19,5 juta, MUFG senilai US$ 17 juta, dan UOB sebesar US$ 17 juta. Menurut Siendy, pinjaman tersebut ditujukan untuk keperluan pengembangan dan refinancing lapangan Blok A Aceh dan Senoro Sulawesi. 

“Hanya untuk itu, tidak boleh digunakan untuk tujuan lainnya,” ujar dia. 

Medco Energijuga telah meraih persetujuan pemegang saham untuk memangkas target dana penambahan modal tanpa hak memesan efek terlebih dahulu (non-HMETD) dari Rp 2,31 triliun menjadi Rp 1,54 triliun. Perubahan target dana tersebut disebabkan pergerakan harga saham perseroan, sehingga asumsi harga pelaksanaan diubah dari Rp 1.306 menjadi Rp 869 per saham.

Direktur Utama Medco Energi Hilmi Panigoro mengatakan, perseroan telah mengajukan kembali rencana non-HMETD maksimum 10% dalam rapat umum pemegang saham luar biasa (RUPSLB) pada 15 November 2018. Adapun perseroan memiliki waktu selama dua tahun untuk merealisasikan rencana penambahan modal melalui non-HMETD.

Lebih lanjut Hilmi menuturkan, pihaknya merasa perlu berhati-hari dan bersikap konservatif dalam menentukan pilihan dalam mengelola struktur permodalan perusahaan.

“Menanggapi pasar komoditas, dan ekuitas dunia yang sedang tidak stabil, kami memilih berhati-hati, dan konservatif,” tegas dia.

Terkait rencana menyelenggarakan non-HMETD, manajemen Medco dalam keterangan resmi pada 8 Oktober 2018, mengaku sedang mengincar investor strategis. Secara rinci, investor strategis yang diincar merupakan investor keuangan (Financial investor).

Investor Daily, Page-13, Thursday, Jan 3, 2019

During 2019 Pertamina EP Drill Target 94 Wells

PT Pertamina EP, a subsidiary of PT Pertamina (Persero) as well as Cooperation Contract Contractors (KKKS) under the coordination of SKK Migas, is committed to pursuing oil and gas production in 2019. One strategy is drilling 94 wells and 243 Workover wells throughout Indonesia.

Nanang Abdul Manaf, President Director of PT Pertamina EP, said that the company targets 82,500 BOPD of oil and 768 MMSCFD of gas in 2019. The company's strategy is to pursue the lifting by making production earlier.

"We believe that maximizing the use of time can provide better results," he said.

PT Pertamina EP has a very wide working area in Indonesia and is supported by reliable human resources. The area of ​​work is a challenge and an opportunity for Pertamina EP to be able to maximize production according to the agreed work plan.

"We continue to remind you to run operations with excellence and zero accident. For us, safety is priority. All workers and partners "must work by paying attention to work safety rules," he explained.

Director of Operation and Production of PT Pertamina EP, Chalid Said Salim, said that for the strategy to achieve employment in 2019, his party focuses on executing the drilling work program. They also synergize the functions of both core business functions and their support.

"We continue to monitor integrated procurement processes, monitor physical progress and costs regularly, as well as cost effectiveness," Chalid added.

IN INDONESIAN

Selama 2019 Pertamina EP Target Bor 94 Sumur

PT Pertamina EP, anak usaha PT Pertamina (Persero) sekaligus Kontraktor Kontrak Kerja Sama (KKKS) di bawah koordinasi SKK Migas berkomitmen mengejar produksi migas di tahun 2019. Salah satu strategi melakukan pengeboran 94 sumur dan 243 sumur Workover seluruh Indonesia.

Presiden Direktur PT Pertamina EP Nanang Abdul Manaf mengatakan pihaknya mentargetkan minyak sebesar 82.500 BOPD dan gas 768 MMSCFD di tahun 2019 ini. Adapun strategi perusahaan untuk mengejar lifting tersebut dengan melakukan produksi lebih dini.

“Kami percaya dengan memaksimalkan penggunaan waktu dapat memberikan hasil yang lebih baik,” ujarnya. 

PT Pertamina EP mempunyai wilayah kerja yang sangat luas di Indonesia dan didukung dengan sumber daya manusia handal. Luas wilayah kerja menjadi tantangan dan peluang tersendiri bagi Pertamina EP agar mampu memaksimalkan hasil produksi sesuai rencana kerja yang disepakati.

“Kami terus mengingatkan untuk menjalankan operasional dengan excellent serta zero accident. Bagi kami, safety is priority. Seluruh pekerja dan mitra

wajib bekerja dengan memperhatikan kaidah keselamatan kerja,” jelasnya.

Direktur Operasi dan Produksi PT Pertamina EP, Chalid Said Salim mengatakan untuk strategi pencapaian kerja di 2019, pihaknya fokus mengeksekusi program kerja pemboran. Mereka juga melakukan sinergi antar fungsi baik fungsi core business maupun supportnya.

“Kami terus melakukan monitoring terintegrasi proses pengadaan, monitoring progress fisik dan biaya secara rutin, serta cost effectiveness,” imbuh Chalid.

Radar Gresik, Page-5, Thursday, Jan 3, 2019

Pertamina EP Pumps Oil and Gas Production in the Milk Base

PT Pertamina EP is committed to increasing oil and gas reserves. The subsidiary of PT Pertamina has just held a Radiatus Madu (RDM) well exploration 1 in the working area of ​​Pertamina EP Asset 1 Pangkalan Susu Field in Lubuk Kasih Village, West Brandan District, Langkat Regency, North Sumatra.

President Director of PT Pertamina EP, Nanang Abdul Manaf, said that the drilling of RDM-1 exploration wells was an attempt to find new oil and gas reserves. With this activity, production from the Pangkalan Susu Field is predicted to rise.

Currently, oil production from Pangkalan Susu Field is around 450 barrels of oil per day (bopd) and is projected to increase to the level of 1,000 bopd in mid-January this year. These estimates are in line with the increase in Batumandi-1 onshore well production volume of 350 bopd. The oil and gas well is in Paya Tusam Village, Wampu District, Langkat.

"In the RUM-1 well drilling, Pertamina EP collaborates with PT Pertamina Drilling Services Indonesia, which is also a Pertamina subsidiary in the upstream sector," Nanang said on the sidelines of the RDM-1 well drilling in Lubuk Kasih, Langkat North Sumatra.

Pertamina EP's management projects that RDM-1 well reserves will reach around 22 million barrels of oil equivalent (mmboe). The capacity projection consists of 10.8 million barrels of oil and 62.8 billion cubic feet of gas (BCFG).

Drilling of RDM-1 exploration wells uses a PDSI N110 / 59 Rig with a power of 1,500 horsepower (HP).

"The total investment for this drilling activity is around the US $ 13 million or equivalent to Rp. 188.5 billion (exchange rate of Rp. 14,500 per US dollar)," Nanang said.

Director of Exploration and Discovery of New Reserves of PT Pertamina EP, Achmad Alfian Husen, said that the exploration drilling of RDM-1 wells was carried out to a depth of 2,125 meters.

Pertamina EP management expects drilling activities to penetrate several reservoir layers of new oil reserves to increase the life cycle of the Pangkalan Susu Field.

"If the results are positive, production activities can be carried out in the next three years, because there must be preparation for POD (the plan of development) and others," Alfian said.

President Director of PT Pertamina Drilling Services Indonesia (PDSI), Budi Nugraha Pangaribuan, explained that his party supports the activities of the wells conducted by PT Pertamina EP with operations other than 24 hours. He stated the drilling equipment was ready 100% and ready to be operated.

"Hopefully the RDM-1 well exploration drilling activities will produce oil and gas reserves that are in line with the projections and expectations of Pertamina EP," he said.

Kontan, Page-14, Thursday, Jan 3, 2019