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Friday, November 2, 2018

Oil and Gas Block Contracts to be More Flexible



The government needs to relax the scheme for profit sharing contracts for oil and gas working areas so that investors are interested in taking oil and gas blocks auctioned and conducting exploration activities.

Lecturer at the Faculty of Earth and Energy Technology, Trisakti University Pri Agung Rakhmanto said that Indonesia would face challenges in the upstream oil and gas sector. The challenge is in the form of lack of exploration activities and there has been no discovery of large-scale oil and gas blocks.

In fact, exploration activities need to be carried out to obtain oil and gas reserves. Meanwhile, the discovery of giant oil and gas blocks will be able to significantly increase oil and gas production.

"The method is not by forcing only to apply gross split [contract scheme, gross profit sharing. However, any business contract scheme that is desired and attractive to investors is needed, ".

So far, the implementation of gross profit sharing schemes has been applied to new block contracts. Until quarter III / 2018, gross profit sharing contracts have been implemented in 25 oil and gas working areas. In addition to the new block, the gross profit sharing system is also applied to one termination block in 2017, namely Blok Offshore North West Java managed by PT Pertamina Hulu Energi ONWJ.

In 2017, there are at least five new blocks resulting from the auction using gross split schemes. The five blocks are Andaman 1, Andaman ll, Merak Lampung, Pekawai, and West Yamdena. Meanwhile, the 4 new blocks in the 2018 auction results, namely the Citarum Block, East Ganal, East Seram, and Southeast Jambi also use gross profit sharing schemes.

A total of six oil and gas blocks are terminated in 2018, namely the North Sumatra Offshore Block, Ogan Komering, South East Sumatra, Tuban, & Attaka have used gross profit sharing schemes. Pri considers that the government can open options not to implement a regime of upstream oil and gas contracts. According to him, the type of contract is adjusted to the needs and suitability of each oil and gas block. 

     Some old contracts still use a cost recovery scheme, namely that all oil and gas production costs incurred by the contractor will be replaced from the state budget. Meanwhile, the profit share received by the contractor is the profit received by the oil and gas company.

For example, in the cost recovery scheme, the contractor gets 15% of the oil production share, while the government receives 85%. In addition to getting a 15% profit share, the contractor will also get a replacement for all oil and gas production costs that have been incurred. Instead, the gross profit sharing scheme with a government base gets 43% and contractors 57% (oil). 

    However, the profit sharing of contractors can increase depending on the condition of the oil and gas field. With the 57% profit share, the contractor has to bear the oil and gas production costs.

"There is no need for gross split or cost recovery fanatics. Don't assume that the form of the contract is everything that will determine the attractiveness or absence of an oil and gas block. "

Previously, ESDM Minister Ignasius Jonan stressed that the gross split revenue sharing system for oil and gas working area contracts would continue to operate.



"This will not return [to the cost recovery scheme], the gross split will continue to operate, because all of the big [oil and gas companies] accept it. During the Chevron in the Rokan Block, I asked whether or not [gross split system]? Want it, "he said.


the Rokan Block

Pri added, actually there are many factors that influence the attractiveness of oil and gas blocks in Indonesia, including consistency of regulation, licensing, and bureaucracy. According to him, every investor invests in adjusting the priority of his portfolio.

"The level of competitiveness with other countries is also key."

Jonan said, the government's consideration is to replace the cost recovery profit sharing scheme because of the many distortions in this system, especially in terms of processes that require a lot of time.

THE PROJECT IS OPERATING

Meanwhile, SKK Migas ensures that the upstream oil and gas project will operate as targeted, namely in 2019. Based on SKK Migas data, there are at least 13 upstream oil and gas projects targeted to operate in 2019. Wisnu Prabawa, SKK Migas Program and Communication Division Head, said the upstream project oil and gas is still on target.

"For now, all of us still have estimates for 2019. For more details we can deliver it at the end of November 2018. Well, at that time it will be discovered to what extent it will be on time. So far it is still on target, "he said.



The upstream oil and gas project includes SWB / WB / SB by PetroChina Intl. Jabung Ltd., Ario Damar-Sriwijaya Phase 2 by PT Tropik Energi Pandan, Terang Sirasun Batur phase 2 by PT Kangean Energi Indo nesia Ltd.

IN INDONESIA

Kontrak Blok Migas agar Lebih Fleksibel


Pemerintah perlu merelaksasi skema kontrak bagi hasil wilayah kerja minyak dan gas bumi sehingga investor tertarik mengambil blok migas yang dilelang dan melakukan kegiatan eksplorasi.

Dosen Fakultas Teknologi Kebumian dan Energi, Universitas Trisakti Pri Agung Rakhmanto mengatakan bahwa Indonesia akan menghadapi tantangan di sektor hulu migas. Tantangan itu berupa minimnya kegiatan eksplorasi dan belum ada lagi penemuan blok migas skala besar.

Padahal, kegiatan eksplorasi perlu terus dilakukan untuk mendapatkan cadangan migas. Sementara itu, penemuan blok migas raksasa akan mampu meningkatkan produksi minyak dan gas bumi secara signifikan.

“Caranya justru tidak dengan memaksakan untuk hanya menerapkan gross split [skema kontrak, bagi hasil kotor. Namun, perlu skema kontrak bisnis apapun yang memang dikehendaki dan menarik bagi investor,”.

Sejauh ini, penerapan skema bagi hasil kotor diterapkan untuk kontrak blok baru. Hingga kuartal III/2018, kontrak bagi hasil kotor sudah diterapkan di 25 wilayah kerja migas. Selain pada blok baru, sistem bagi hasil kotor juga diaplikasikan untuk satu blok terminasi pada 2017, yaitu Blok Offshore North West Java yang dikelola PT Pertamina Hulu Energi ONWJ.

Pada 2017, setidaknya ada lima blok baru hasil lelang yang menggunakan skema gross split. Kelima blok itu adalah Blok Andaman 1, Andaman ll, Merak Lampung, Pekawai, dan West Yamdena. Sementara itu, 4 blok baru pada hasil lelang 2018, yakni Blok Citarum, East Ganal, East Seram, dan Southeast Jambi juga menggunakan skema bagi hasil kotor.

Sebanyak enam blok migas terminasi 2018, yakni Blok North Sumatera Offshore, Ogan Komering, South East Sumatera, Tuban, & Attaka sudah menggunakan skema bagi hasil kotor. Pri menganggap bahwa pemerintah dapat membuka opsi untuk tidak menerapkan satu rezim kontrak hulu migas. Menurutnya, jenis kontrak disesuaikan dengan kebutuhan dan kecocokan setiap blok migas. 

    Beberapa kontrak lama masih menggunakan skema bagi hasil bersih atau cost recovery, yaitu seluruh biaya produksi migas yang dikeluarkan kontraktor akan diganti dari APBN. Sementara itu, bagi hasil yang diterima kontraktor merupakan keuntungan yang diterima perusahaan migas tersebut.

Sebagai contoh, dalam skema cost recovery, kontraktor mendapatkan bagi hasil produksi minyak sebesar 15%, sedangkan pemerintah 85%. Selain mendapatkan bagi hasil 15%, kontraktor juga akan mendapatkan penggantian seluruh biaya produksi migas yang telah dikeluarkan. 

    Sebalinya, skema bagi hasil kotor dengan basis pemerintah mendapatkan 43% dan kontraktor 57% (minyak). Namun, bagi hasil kontraktor bisa bertambah bergantung pada kondisi lapangan migas. Dengan bagi hasil 57% itu, kontraktor sudah, harus menanggung biaya produksi migas.

“Tidak perlu fanatik gross split atau cost recovery. Jangan menganggap bahwa bentuk kontrak itu segalanya yang akan menentukan menarik atau tidaknya sebuah blok migas.”

Sebelumnya, Menteri ESDM Ignasius Jonan menegaskan bahwa sistem bagi hasil gross split untuk kontrak wilayah kerja migas akan beroperasi terus.

“Ini tidak akan kembali [ke skema cost recovery], gross split akan beroperasi  terus, karena semua [perusahaan migas] yang besar terima. Chevron sewaktu di Blok Rokan, saya tanya mau tidak [sistem gross split]? Mau,” katanya.

Pri menambahkan, sebenarnya banyak faktor yang memengaruhi daya tarik blok migas di Indonesia antara lain konsistensi regulasi, perizinan, dan birokrasi. Menurutnya, setiap investor berinvestasi menyesuaikan prioritas portofolionya. 

“Tingkat daya saing dengan negara lain juga menjadi kunci.”

Jonan menyebutkan, pertimbangan pemerintah mengganti skema bagi hasil cost recovery karena banyaknya distorsi pada sistem ini, terutama dan segi proses yang banyak memerlukan waktu.

PROYEK BEROPERASI

Sementara itu, SKK Migas memastikan bahwa proyek hulu migas akan beroperasi sesuai target, yaitu pada 2019. Berdasarkan data SKK Migas, setidaknya ada 13 proyek hulu migas yang ditargetkan beroperasi pada 2019. Kepala Divisi Program dan Komunikasi SKK Migas Wisnu Prabawa Taher mengatakan, proyek hulu migas masih sesuai target. 

“Kalau untuk saat ini semuanya kami masih punya estimasi untuk 2019. Untuk detailnya lagi kami bisa sampaikan pada akhir November 2018. Nah, saat itu akan ketahuan sejauh mana akan tepat waktu. Sejauh ini masih sesuai target,” katanya.

Proyek hulu migas tersebut antara lain SWB/WB/SB oleh PetroChina Intl. Jabung Ltd., Ario Damar-Sriwijaya Phase 2 oleh PT Tropik Energi Pandan, Terang Sirasun Batur phase 2 oleh PT Kangean Energi Indo nesia Ltd. 

Bisnis Indonesia, Page-24, Tuesday, Oct 30, 2018

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