Pertamina Rokan Block Operations to add USD784mn State Income

TEMPO.CO, Jakarta - Finance Ministry’s director general of budgeting Askolani predicts that Indonesia’s potential income from operating the Rokan Block could reach USD 784 million, which will be managed by Pertamina.

The prediction equates to Rp11 trillion with the assumption that rupiah is traded for Rp14,000 per USD.

According to Askolani, that state income from Pertamina can originate from initial fees or signature bonus that is seen as an official sign prior to managing the block.

“The state potential income is up to USD 784 million but the payment this year will be in the form of non-tax state income (PNBP),” said Askolani on Tuesday, August 14.

The Rokan Block is currently managed by PT Chevron Pacific Indonesia until 2021, where the Indonesian government decided not to extend its contract.

Previously reported, the decision to hand over the Rokan Block was issued after Pertamina and Chevron competed upon presenting a proposal to the government since last month. According to the Energy and Mineral Resources Ministry Deputy Arcandra Tahar, Pertamina had outperformed Chevron’s offer through a signature bonus valued up to USD 784 million and a work commitment up to USD500 million.

Deputy Minister Arcandra said that the profit sharing will be done through a gross split scheme where Pertamina will receive 65 percent oil and 70 percent gas in the Lapangan Duri field. Meanwhile, other than Lapangan Duri, the corporation will receive 61 percent oil and 66 gas shares.

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