BUSINESS SCHEME SELECTION ANALYSIS OF COAL BED METHANE (CBM) AT PT PERTAMINA(PERSERO) (Case Study: CBM Business Management in PT Pertamina Hulu Energi)

• Main Author: MUHAMAD (NIM : 29108016); Pembimbing : Erman Sumirat SE.AK.,M.Buss., INDOYANU
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/16043
• Institution: Institut Teknologi Bandung

Coal Bed Methane (CBM) is one of the alternative energy being developed in Indonesia to anticipate energy shortage in the future. CBM potential reserves reaching <br /> <br /> <br /> up on 453 trillion cubic feet and that could be used for the needs of power plants, industry, transportation and households. make CBM have a prospective business. PT <br /> <br /> <br /> Pertamina (Persero) through its subsidiary Pertamina Hulu Energi (PHE) is currently managing 4 CBM projects in Indonesia. New regulation of Gross Production Sharing <br /> <br /> <br /> Contract (GPSC) issued by BP Migas as an alternative to the Production Sharing Contract (PSC), makes PHE as the CBM contractor needs to consider the economics, and business risk. The purpose of this study is to analyze the calculations on the economic and business risk of CBM with one sample location that is managed by PHE. So that it can provide recommendations of the best CBM business scheme to be used as a CBM business model to review the previous contract and for planning the new CBM location. The method used in this study is capital budgeting, montecarlo simulation, value at risk and scenario analysis Calculations are focused on sharing between government and contractors at 55:45 and 60:40 on PSC and GPSC. From the calculation scheme in this business got the final results of its Net Present Value (NPV), Internal Rate of Return (IRR), Payout Time (POT), Profitability Index (PI), Cashflow, Contractor Take, and Value at Risk (VAR) for the fourth alternative contract. The final result shows that the PSC 55:45 and PSC 60:40 have economic value and risk is better than GPSC 55:45 and GPSC 60:40.