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Wednesday, November 22, 2017

Wait for Government Regulation, Oil and Gas Block Auction Will Be Delayed again



The government for the third time again extended the auction period of oil and gas blocks in the first phase of 2017 until the end of the year. The auction closing was postponed as it is still awaiting the release of the Government Regulation on taxation of oil and gas contracts of gross split scheme to provide investment certainty for investors.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Ego Syahrial said the actual response of investors to the auction of oil and gas blocks of 2017 period is quite good.

To date, there are 20 tender documents accessed for the supply of 10 conventional oil and gas blocks and two auction documents for five unconventional oil and gas blocks. But the end they (investors) are waiting for the assurance of Government Regulation gross split taxes, need legal rules. So [auction] will be delayed until 31 December, "he said at a press conference in Jakarta on Tuesday (21/11).

He explained that there is no difference in auction deadline for conventional and non-conventional oil and gas blocks, as well as through direct bids and regular auctions. The retrieval of oil and gas blocks auction document is extended to 24 December. Furthermore, the submission limits of tender documents shall be until 31 December 2017.

With this withdrawal, the government has already extended the third auction of the first phase of the 2017 oil and gas block. When it was announced in May, the deadline for an auction of oil and gas blocks of direct bidding schemes was set on July 19. 

      However, the government extended the period for the submission of tender documents to 14 September for the auction of unconventional oil and gas blocks and 18 September for the conventional oil and gas block auction.

As for the regular auction, since the first announced there is no change in the deadline for the submission of documents, ie on 3 October. However, in September, the government again extended the auction of oil and gas blocks.

    The government sets the limit on access of documents at the latest November 20 and the submission of documents on November 27, for both regular and unconventional direct and regular bidding auctions and oil and gas blocks.

The block auctioned, by the government there are 15 oil and gas blocks, 10 conventional oil and gas blocks and five non-conventional oil and gas blocks. A total of 10 blocks of oil and gas have the potential of oil reserves of about 830 million barrels and 22 trillion cubic feet of gas. While oil potential for five non-conventional oil and gas blocks is about 640 million barrels and 17 trillion cubic feet of gas.

For conventional oil and gas block auctioned through direct offer are Andaman I and Iaman Block II offshore Aceh, South Tuna offshore Natuna, Merak Lampung offshore and Banten-Lampung mainland, Pekawai offshore East Kalimantan, West Yamdena offshore and the Maluku mainland, and Kasuri III in West Papua.

While offered with regular auctions namely Block Tongko offshore Natuna, East Tanimbar off the coast of Maluku, and Mamberano on the mainland and off Papua monitor.

Furthermore, three unconventional oil and gas blocks are tendered through direct offerings namely MNK Jambi I in Jambi, MNK II in Jambi and Sumatra, and GMB West Air Komering in South Sumatra. Finally, GMB Raja and GMB Bungamas in South Sumatra are offered through regular auctions.

With the delay of this first phase of auction, then the second phase of the oil and gas block supply will also be postponed. Because the second stage auction will be announced after the first stage auction closed.

"The second-stage auction planned in November, automatically adjusted to mid or late January," he said.

Secretary Board of Director of Indonesian Petroleum Association (IPA) Ronald Gunawan said the extension of the auction of oil and gas blocks is reasonable. Because the Government Regulation detailing the tax treatment for oil and gas contract scheme gross split has not come out. Meanwhile, all new oil and gas contracts are required to use this scheme.

"So this extension gives an opportunity to investors to get certainty. If the Government Agreement has been approved, we expect investors to be able to evaluate and make business decisions, "he said.

Government Regulation of Gross Split Tax Regarding the progress of Peratruan Government's creation of taxation on gross split contracts, the government is still waiting for permission from the Head of State to issue this regulation. Both ESDM Minister Ignatius Jonan and Finance Minister Sri Mulyani both have applied for this permission to the President. Unfortunately, both have not received an answer.

If it has obtained this permit, it will accelerate the issuance of this tax bribe. The harmonization stage and discussion in the Inter-ministerial Committee (PAK) will be accelerated.

"So the estimated time of December 31 (auction limit) is realistic," he stated.

He said there was no change of content in the Government Regulation of the gross split tax. Earlier, Deputy Minister of Energy and Mineral Resources Arcandra Tahar said, this Government Regulation will provide incentives for oil and gas companies. 

     During the exploration period, oil and gas companies will be exempt from UN and Import Duty. Likewise for indirect taxes, oil and gas companies will not be subject to exploration, ie from the approval of the plan of development (POD) to the first oil production.

"After that (from first oil to break even point / BEP), if the economy is not enough, then compensated with split," said
Arcandra.

The economic level of this project is based on the calculations made during the compilation of POD. Not only that, investors will also get the facility of deferring tax loss carry forward 10 years. This is because at the beginning of the oil and gas project, oil and gas companies have not yet earned revenue from the project. Furthermore, all expenses incurred until the first drops of oil are produced will be tax deductions for up to 10 years.

Ronald appreciated the government's continued involvement and incorporated proposals from the IPA on the Government Regulation of the Gross Split Tax. It's just that his party hopes, when the regulation is out, planning implementation of this regualsi can be clarified.

"So the time applied can be more transparent to all parties," he said.

IN INDONESIA

Tunggu Peraturan Pemerintah, Lelang Blok Migas Kembali Ditunda


Pemerintah untuk ketiga kalinya kembali memperpanjang masa lelang blok minyak dan gas bumi tahap pertama 2017 hingga akhir tahun. Penutupan lelang ditunda karena masih menunggu keluarnya Peraturan Pemerintah tentang perpajakan kontrak migas skema gross split untuk memberikan kepastian investasi bagi investor.

Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Ego Syahrial mengatakan, sebenarnya respons investor atas lelang blok migas periode 2017 ini cukup baik.

Hingga saat ini, terdapat 20 dokumen lelang yang diakses untuk penawaran 10 blok migas konvensional dan dua dokumen lelang untuk lima blok migas nonkonvensional. Tetapi ujungnya mereka (investor) menunggu kepastian Peraturan Pemerintah pajak gross split, butuh legal aturannya. Jadi [lelang] kamj tunda sampai 31 Desember,” kata dia dalam jumpa pers di Jakarta, Selasa (21/11).

Dijelaskannya, tidak ada perbedaan batas waktu lelang bagi blok migas konvensional dan nonkonvensional, maupun yang melalui penawaran langsung dan lelang reguler. Pengambilan dokumen lelang blok migas diperpanjang hingga 24 Desember. Selanjutnya batas pemasukan dokumen lelang diberi waktu hingga 31 Desember 2017.

Dengan pengunduran ini, pemerintah sudah kali ketiga memperpanjang masa lelang blok migas tahap pertama 2017. Ketika diumumkan dibuka pada Mei lalu, batas waktu lelang blok migas skema penawaran langsung ditetapkan pada 19 Juli. 

      Namun, kemudian pemerintah memperpanjang masa pemasukkan dokumen lelang menjadi 14 September untuk lelang blok migas nonkonvensional dan 18 September untuk lelang blok migas konvensional. 

Sementara untuk lelang reguler, sejak pertama diumumkan tidak ada perubahan batas waktu pemasukkan dokumen, yakni pada 3 Oktober. Tetapi, pada September lalu, pemerintah kembali memperpanjang masa lelang blok migas. 

     Pemerintah menetapkan batas akses dokumen paling Iambat 20 November dan pemasukkan dokumen pada 27 November, baik bagi lelang penawaran langsung dan reguler maupun blok migas konvensional dan nonkonvensional.

Adapun blok yang dilelang, oleh pemerintah tercatat terdapat 15 blok migas, 10 blok migas konvensional dan lima blok migas non-konvensional. Sebanyak 10 blok migas konvensional ini memiliki potensi cadangan minyak sekitar 830 juta barel dan gas 22 triliun kaki kubik. Sementara potensi minyak untuk lima blok migas nonkonvensional sekitar 640 juta barel dan gas 17 triliun kaki kubik.

Untuk blok migas konvensional yang dilelang melalui penawaran langsung adalah Blok Andaman I dan Andaman II di lepas pantai Aceh, South Tuna di lepas pantai Natuna, Merak Lampung di lepas pantai dan daratan Banten-Lampung, Pekawai dilepas pantai Kalimantan Timur, West Yamdena di lepas pantai dan daratan Maluku, dan Kasuri III di Papua Barat.

Sementara yang ditawarkan dengan lelang reguler yakni Blok Tongko di lepas pantai Natuna, East Tanimbar di lepas pantai Maluku, dan Mamberano di daratan dan lepas pantau Papua.

Selanjutnya, tiga blok migas nonkonvensional dilelang melalui penawaran Iangsung adalah MNK Jambi I di Jambi, MNK II di Jambi dan Sumatera, serta GMB West Air Komering di Sumatera Selatan. Terakhir, GMB Raja dan GMB Bungamas di Sumatera Selatan ditawarkan melalui lelang reguler.

Dengan ditundanya lelang tahap pertama ini, maka penawaran blok migas tahap kedua juga akan ditunda. Pasalnya, lelang tahap kedua akan diumumkan setelah lelang tahap pertama ditutup. 

“Lelang tahap kedua yang rencananya di bulan November, otomatis disesuaikan menjadi pertengahan atau akhir Januari,” tuturnya.

Secretary Board of Director Indonesian Petroleum Association (IPA) Ronald Gunawan mengungkapkan, perpanjangan lelang blok migas ini wajar dilakukan. Pasalnya, Peraturan Pemerintah yang merinci tentang perlakuan perpajakan untuk kontrak migas skema gross split belum keluar. Sementara, seluruh kontrak migas baru wajib menggunakan skema ini.

“Jadi perpanjangan ini memberi kesempatan ke investor untuk mendapatkan kepastian. Kalau Peratruan Pemerintah sudah disetujui, kami harapkan investor bisa evaluasi dan membuat business decision," ujarnya.

Peratruan Pemerintah Pajak Gross Split Terkait progres pembuatan Peratruan Pemerintah perpajakan kontrak gross split,  pemerintah masih menunggu izin prakarsa penerbitan regulasi ini dari Kepala Negara. Baik Menteri ESDM Ignasius Jonan maupun Menteri Keuangan Sri Mulyani, keduanya telah mengajukan izin ini kepada Presiden. Sayangnya, keduanya belum mendapat jawaban.

Jika sudah memperoleh izin ini, pihaknya akan mempercepat penerbitan beleid pajak ini. Tahap harmonisasi maupun pembahasan dalam Panitia Antar Kementerian (PAK) akan dipercepat. 

“Sehingga perkiraan waktu 31 Desember (batas lelang) adalah realistis,” tegas dia. 

Dikatakannya, tidak ada perubahan isi dalam rancangan Peraturan Pemerintah pajak gross split. Sebelumnya, Wakil Menteri ESDM Arcandra Tahar mengatakan, Peratruan Pemerintah ini akan memberikan insentif bagi perusahaan migas. Selama masa eksplorasi, perusahaan migas akan dibebaskan dari PBB dan Bea Masuk. 

     Demikian juga untuk pajak-pajak tidak langsung, perusahaan migas tidak akan dikenai selama masa eksplorasi, yakni dari persetujuan rencana pengembangan (plan of development/POD) hingga produksi minyak pertama (first oil).

“Setelah itu (dari first oil hingga break even point/BEP), kalau keekonomiannya tidak cukup, maka dikompensasikan dengan split,” tutur
Arcandra. 

Tingkat keekonomian proyek ini berdasarkan hitungan semasa menyusun POD. Tidak hanya itu, investor juga akan memperoleh fasilitas penangguhan pembayaran pajak penghasilan (tax loss carry forward) 10 tahun. 

    Hal ini lantaran pada awal proyek migas, perusahaan migas belum memperoleh pendapatan dari proyek yang dikerjakan. Selanjutnya, seluruh biaya yang dikeluarkan sampai dihasilkan tetes minyak pertama akan menjadi pengurang pajak sampai 10 tahun.

Ronald mengapresiasi pemerintah yang terus melibatkan dan memasukkan usulan dari IPA tentang Peraturan Pemerintah Pajak Gross split. Hanya saja pihaknya berharap, ketika regulasinya sudah keluar, perencanaan implementasi regualsi ini dapat diperjelas.

“Sehingga waktu diaplikasikan bisa lebih transparan ke semua pihak,” tutur dia.

Investor Daily, Page-9, Wednesday, Nov 22, 2017

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