Good Luck Pertamina: Jadi Operator Migas Offshore
Dirilis pertama di Facebook pribadi.
(Sejak 25 Juni akuisisi BP-ONWJ operatorship and interest.)
Dan sekaligus salut buat BP, yang bisa jualan blok dengan harga cukup tinggi untuk kategori aset yang punya reserve di atas 100 juta barel. Data base ETTI (Exploration Think Tank Indonesia) untuk akuisisi/farm-in block sembilan tahun terakhir ini (2001 - 2009) menunjukkan bahwa dari 17 transaksi aset di atas 100 juta barel yang termonitor oleh ETTI, nilai USD/BOE (dolar per barel oil ekivalen) dari transaksi BP-Pertamina ini (3.03 US$/BOE) menempati urutan kedua termahal setelah transaksi Talisman yang membeli 3.05% interest CNOOC di Project Tangguh (3.93 US$/BOE) di tahun 2008. Angka terendah dicetak oleh transaksi BP yang membeli 9.7% stake Genting Berhad di Tangguh LNG Project tahun 2001 (0.35 US$/BOE)
Sebagai stakeholder Pertamina (karena walaupun PT Pertamina teuteuup aja BUMN pemasok keuntungan bagi negara saya: Republik Indonesia), saya berdoa mudah-mudahan:
Mahalnya harga pembelian tersebut sebanding alias bisa di-offset dengan "intangible advantage" dari pengalaman "Offshore Operatorship" yang akan didapatkan Pertamina; karena inilah blok offshore besar pertama yang akan dikelola oleh Pertamina setelah selama ini bertahun-tahun Pertamina hanya menjadi raja daratan saja.
218 offshore structure yang diwarisi dari BP tidak malah akan menjadi liabilities bagi Pertamina, karena nantinya kalau sudah tidak terpakai lagi, biaya untuk mbongkar (abandonement)nya bisa-bisa sampai 500 ribu dolar tiap platform (atau malah lebih??)
Upside potential di blok tersebut yang berupa attic structures maupun lead and prospect baru bisa lebih besar dari perhitungan konvensional BP.
Kalau dibandingkan dengan kiprah Pertamina waktu kalah bersaing dengan CNOOC memperebutkan interest dan operatorship Repsol-YPF di Block SES tahun 2002, kelihatannya Pertamina saat ini jauh lebih agresif dan berani bayar lebih mahal (dolar per barelnya). Mungkin karena daerah yang diakusisi sekarang bersebelahan dengan daerah di mana waktu 2002 dulu mereka kalah bersaing. Atau mungkin ada pertimbangan lain, entahlah. Mudah-mudahan saja tidak ada hubungannya dengan pemilu Pilpres dua minggu kemudian dari saat transaksi. Mudah-mudahan juga tidak berhubungan dengan isu sebelum-sebelumnya bahwa Karen sang Direktur Utama ditekan-tekan oleh kalangan politisi. Mudah-mudahan.
BP to sell West Java interests to Pertamina
Release date: 25 June 2009
BP today announced that it has agreed the sale of its wholly-owned subsidiary, BP West Java Limited (BPWJ), to Indonesian state-owned oil and gas company PT Pertamina (Persero).
BPWJ holds a 46 per cent interest in and is the operator of the Offshore North West Java production sharing contract (ONWJ PSC) in Indonesia.
Pertamina will purchase 100 per cent of BPWJ from BP for a consideration of US$280 million, subject to final adjustments prior to closing. The two companies anticipate completing the transaction by 30 June, 2009 and Pertamina will take over operatorship of the ONWJ assets. In addition, BP and Pertamina have agreed to co-operate on developing coalbed methane in Indonesia.
Andy Inglis, BP's chief executive of exploration and production said: "Indonesia is an important country for BP, where we are focusing our upstream oil and gas interests on the continuing development of our VICO joint venture in Kalimantan and our Tangguh LNG project in Papua. We are confident that ONWJ will prove a natural fit with Pertamina's existing businesses and they are the right company to take on this excellent asset with first class people. We also look forward to working jointly with Pertamina to evaluate coalbed methane resources on their significant acreage position."
BP and Pertamina have also agreed to deliver the commitments made to the approximately 400 BPWJ employees regarding their employment benefits.
The ONWJ concession covers an area of 8,300 square kilometres immediately offshore West Java stretching from north of Cirebon to the Kepulauan Seribu. Facilities include 314 producing wells and 218 offshore structures, of which eleven are permanently manned flow-stations for processing and compression, and 375 pipelines covering 1,250 kilometres in distance, as well as three onshore gas receiving facilities. ONWJ's current average gross production is approximately 220 million cubic feet of gas and 22,000 barrels of oil per day.
The ONWJ PSC supplies gas for power generation, and industrial, commercial and residential consumption in the greater Jakarta area. BP will work with Pertamina to ensure that customers' supplies are not affected by the transfer of ownership.
The sale will not affect BP's other interests in Indonesia, which remains a core area for BP with the Tangguh, VICO, Castrol and petrochemical businesses. BP is continuously looking for ways of growing these assets and accessing new opportunities through development, exploration and renewal.
Notes to editors:
Through various heritage companies, BP has over 35 years experience and is one of the largest foreign investors in Indonesia. Every BP mainstream business is represented here, from upstream (Tangguh and VICO) to downstream (Castrol) and petrochemicals (PT AMI).
PT Pertamina (Persero) is Indonesia's state-owned integrated oil and gas with more than 50 years experience in the challenging geological environment of Indonesia and in pioneering the development of LNG. Its businesses include the exploration and production of oil and gas; the refining, marketing of oil products and petrochemicals; and the development of biofuels, geothermal power and other sustainable alternative energy sources. Pertamina has operations and facilities throughout Indonesia, and serves the energy needs of over 220 million Indonesians.
The other holders of interests in ONWJ PSC are: CNOOC ONWJ Ltd. (36.7205 per cent), Inpex Jawa Ltd (7.2500 per cent), Orchard Energy Java B.V. (Salamander) (5.0000 per cent), Itochu Oil Exploration Co, Ltd. (2.5795 per cent) and Talisman Resources (N.W. Java) Ltd (2.4500 per cent).
Further enquiries:
UK:
Name: David Nicholas
Title: Press Officer
Phone: +44 (20) 7496 4708
Mobile: +44 (0)7831 095541
Email: nicholdh@bp.com
Indonesia:
Name: Tantri Yuliandini
Title: Sr. Communication Officer
Phone: +62 (21) 7854 9864
Mobile: +62 811 8112440
Email: tantri.yuliandini@bp.com