Category: Industries

SKK Migas Journal

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) is continuously working towards improving Indonesia’s oil and gas production. For that the SKK Migas had accelerated long-awaited oil and gas projects. One of which is the Nibung Gathering Station Nibung of the Bunyu Field under PT Pertamina EP. There’s also the LP Flare SKG Musi Timur. In total, the SKK Migas has six additional oil and gas projects operational this year.

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Tuban Refinery Update

State-owned PT Pertamina is set to construct the Tuban Refinery with Rosneft. The targeted operation year is 2024, with the estimated cost of US$15 billion. The plot on which the Tuban Refinery will be built is the property of the Ministry of Environment and Forestry. The agreement is for Pertamine to use the land under a profit sharing scheme. Rosneft minded the arrangement and so an idea emerged to move the location to Situbondo, into a plot owned by PT Perkebunan Nusantara (PTPN). But this alternative has apparently been ditched.

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Who Will Get Multistrada?

Shares of tire producer Multistrada Arah Sarana (MASA) ended lower by 4% to Rp710 Thursday (Dec 13), but the stock remains one of best performing this year with 154% gain, mainly related to speculation on the entry of either Michelin or Hankook Tire. Who will eventually get the company, which is controlled by Salim Group?

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RDMP Refineries Update

State-owned PT Pertamina came up with the Refinery Development Master Plan (RDMP ) in 2014. From then progress came slow, but may now have a ray of hope. PT Pertamina (Persero) has signed the Engineering, Procurement and Construction (EPC) contract for the development of the Balikpapan Refinery (as part of the RDMP) on December 10, 2018. The consortium formed for this development is comprised of SK Engineering & Construction Co.Ltd (leader), Hyundai Engineering Co.Ltd., PT. Rekayasa Industri, and PT PP (Persero) Tbk.

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Trans-Sumatra & Jokowi’s Aceh Visit

President Joko ‘Jokowi’ Widodo is scheduled to visit Aceh province Thursday-Friday to kick start physical construction of 75 KM toll road connecting Sigli and Banda Aceh. The Rp12 trillion project is part of the president’s ambitious trans-Sumatra toll road project, which is scheduled for full connectivity in 2024.

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Update on the Masela Block

The Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas) has received the revised Plan of Development (POD) for the Masela Block—wherein resides the Abadi Liquefied Natural Gas (LNG) field—from the INPEX Corporation. “They’ve submitted (the POD). We’re reviewing it,” Head of SKK Migas Dwi Soetjipto told us yesterday (Dec. 11).

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A More Promising Manufacturing Industry

Oji Holdings Corp, one of the world’s giants in paper production, has decided to set up a new corrugated container factory in Indonesia through a joint venture with PT Purinusa Ekapersada, a company of Sinarmas Group. The joint venture, PT Oji Sinar Mas Packaging, plans to invest US$35 million in the new factory located in Bekasi, West Java.

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INALUM To Pay Freeport Next Week

PT Indonesia Asahan Aluminium (INALUM) is going to pay for the 51 percent of PT Freeport Indonesia some time between December 17-22. The tip makes sense given that INALUM can no longer delay the process. The State-owned Company had recently promised the House of Representatives that it would expedite Freeport’s divestment process.  

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Infrastructure Journal: JORR-2

National media reported about a small incident in the execution of court decision related to land acquisition for section II of the long-delayed Cinere-Jagorawi (Cijago) toll road yesterday. This is the last piece of land acquisition for the section implicating 10 plots of land in Sukmajaya, Depok, West Java. The plots were executed after the court rejecting demands from landowners for Rp33 million per square meter, way above market value (independent valuers pointed to between Rp2.9 million and Rp17 million per square meter).

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Government Ready to Promulgate the Latest Amendment to the Regulation on the Mineral and Coal Mining Business

The Government of Indonesia has been working on revising the regulation on mineral and coal mining business so as to address matters concerning soon-to-be-expired coal contract of work (PKP2B). Indonesia’s Ministry of Energy and Mineral Resources (ESDM) recently told the press that the revised regulation has passed the stage of harmonization (cross-checking with existing laws and regulations). The draft has been forwarded to the State Secretary, after which it will go to President Joko Widodo for signing.

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EV Market & Indonesian Nickel (3)

High-ranking government officers in Indonesia are determined to accelerate development of electric vehicle (EV) market in the country to prevent bigger deficit in oil and gas trading. Some companies, meanwhile, have geared up efforts to develop nickel processing facilities for EV batteries in the country.

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