Project Stopped, Pertagas Threatened Natural Losses Hundreds of Billion

By : Ridwan And Aldo Bella Putra | Wednesday, October 04 2017 - 22:00 IWST

PT Pertamina Gas (Pertagas)
PT Pertamina Gas (Pertagas)

INDUSTRY.co.id - Jakarta, the Supreme Audit Agency (BPK), said that several projects carried out by PT Pertamina Gas (Pertagas) in areas such as Jakarta, North Sumatra, South Sumatra and East Java in the period 2014 to the first semester of 2016 were ineffective.

BPK predicts Pertagas will experience losses of up to billion billion Rupiah. One of them is gas sale and purchase transactions conducted by Pertagas with PT Mutiara Energy (PT ME).

"Pertagas assumes a loss of revenues of US $ 16.57 million, and the incidence of bad debts worth US $ 11.86 million due to the preparation of nominations, commercial schemes and operation of Pondok Tengah gas utilization which do not take into account operating conditions, and the transfer of gas allocation for the needs of Compressed Natural Gas (CNG) to PT ME, " writes the CPC ranks in IHPS I / 2017 quoted on Wednesday (4/10/2017).

In addition to the potential loss of revenues of US $ 16.57 million, he continued, the subsidiary of PT Pertamina (Persero) also has the potential to experience losses in the Belawan pipeline project that connects the Medan Industrial Estate (KIM) with the Special Economic Zone (KEK).

"Of the nearly Rp 810 billion project, Pertagas is believed to be suffering losses in the long term because until now the Belawan pipeline project has not been completed yet." he added.

First, there is a commissioning job item that cannot be implemented because until now there is no consumer who can receive gas and in this case is not the responsibility of the partners. Second, the completion of the contract amendment process is related to the added work less, so there is no final calculation related to the completion of the work.

Based on this, the BPK staff recommended Pertagas management to evaluate and establish procedures for determining the maximum number of shipper stock, nomination transfer, to the mechanism of information delivery on rate in force under certain conditions.

Not only that, Pertagas management also recommended to make efforts to collect against bad debts against PT ME and proceed to legal process if the company does not fulfill its obligation.

As for the Belawan pipeline project, Pertagas is required to re-structure the feasibility study and project economy based on real conditions and coordinate with internal and external so that Belawan-KIM-KEK pipeline assets can be utilized optimally.

"Up to now Pertagas does not have a gas-receptive consumer, thus demonstrating the deviation between realization and planning as stated in the feasibility study," BPK concluded.

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