Riau Provincial Government Receives IDR 3.5 Trillion Fund From Rokan Block

Illustration (Photo: Doc. Antara)

JAKARTA - The Ministry of Energy and Mineral Resources (KESDM) has approved the transfer of 10 percent of PT Pertamina Hulu Rokan (PHR) for Riau Province through PT Riau Petroleum Rokan Regional Owned Enterprises (BUMD).

Later, 10 percent PI funds from PHR for Riau will be disbursed immediately with a total value of IDR 3.5 trillion.

The 10 percent PI funds to be paid are PHR's operating period from the beginning of the transfer of management, namely August 9, 2021 to October 30, 2023.

The plan is that the disbursement of the 10 percent PI funds will be carried out in stages, starting Phase I for the PHR operating period on August 9, 2021 to December 31, 2023, which will be disbursed on December 13, 2023.

Furthermore, Phase II disbursement, which is the operating period of PHR January 1, 2023 to October 30, 2023, will be carried out on a maximum of 27 December 2023.

"We are very happy to send 10 percent PI funds for Riau this December. We hope that with the involvement of the regions, in this case the RPR to manage this PI fund, it can provide many good benefits for Riau, especially for improving the economy and the welfare of the Riau community," said the President Director of PHR, Chalid Said Salim, quoted on Tuesday, December 12.

Chalid said that the existence of a 10 percent PI is a new source of income for Riau, both at the district and provincial levels.

"And we believe that the management of 10 percent PI by Riau can have an impact on the movement of the economy in Riau which will lead to an increase in the welfare of the people of Riau," he said.

Chalid appreciated the success and cooperation of various parties related to the 10 percent PI policy for Riau, including the Ministry of Energy and Mineral Resources, the Special Task Force for Upstream Oil and Gas Business Activities (SKK Migas), PT Pertamina (Persero), Riau Provincial Government and PT Riau Petroleum Rokan as SOEs involved.

"This success cannot be separated from the support of various stakeholders in Riau and of course from the people of Riau. Hopefully this mandate can be carried out as well as possible as a form of service to the nation and state," said Chalid.

Riau Governor Edy Natar Nasution appreciated the disbursement of 10 percent PI funds by PHR.

He said the 10 percent PI funds would contribute greatly, both to the Riau Provincial Government, and the local oil and gas-producing district government in the Rokan WK.

"Because the disbursement of these funds is an effort to continue the commitment of the regional development program," he said.

He said, as a form of commitment in managing PI funds of 10 percent of PHR, the Riau Provincial Government is currently working on a Governor Regulation (Pergub) so that the 10 percent PI revenue can be utilized by BUMD to be able to contribute to the upstream oil and gas industry.

"In addition, so that it can also increase regional income, and can be used in priority development programs, such as infrastructure, extreme poverty alleviation, stunting reduction, community service improvement and MSME development in Riau," said Edy.

Previously, the Ministry of Energy and Mineral Resources had approved the payment of 10 percent PI from PHR for Riau as stated in letter Number T-817/MG.04/MEM/2023 dated October 4, 2023 with Approval to Transfer Interes Participation of 10 percent in the Rokan Working Area (WK).

Thus, the composition of PI holders in the Rokan WK is PT PHR as much as 90 percent and Riau Province through the Riau Petroleum Rokan BUMD as much as 10 percent.