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Tuesday, January 15, 2019

Investors Need More Certainty of Licensing



Oil and gas contractors do not question gross gross profit sharing scheme schemes, but rather want the ease and certainty of time to obtain licenses.

As many as 36 oil and gas contractors use the gross split scheme as long as the model was first applied in early 2017 until the end of 2018. The government replaces the cost recovery scheme that uses a system of returning oil and gas production costs from the State Revenue and Expenditure Budget (APBN) to cooperation contract contractors (KKKS).

However, contractors are given the opportunity to continue to use the cost recovery scheme until the contract expires. The government requires all new contracts for oil and gas working areas to use gross profit sharing schemes.

The President of the Indonesian Petroleum Association (IPA) Tumbur Parlindungan said that basically contractors did not have problems with gross split regimes or other types of contracts that apply in other countries. Because, every country has a different oil and gas contract regime policy.

"There are no problems with the gross split, but how permits and certainty of how long to take care of the permit are explained," he said.

Tumbur considered that the value of the signature bonus paid by the contractor to the state was also still reasonable.

"If we look in other countries, they collect [signature bonuses] more, but because the blocks are also large," he added.
Regarding the investment potential of upstream oil and gas in the future, Tumbur said that the potential for oil and gas reservoirs in the country remains promising, but needs to be supported by an increase in national competitiveness. In the perspective of oil and gas investors who are not only focused on one region, the calculation of capital returns is a priority.

In the last 3 years, the ESDM Ministry has cut many policies to create a simpler atmosphere for national oil and gas investment. Nearly 200 policies in the energy and mining sectors were cut by the Ministry of Energy and Mineral Resources.

Seeing this, Tumbur acknowledged that the Ministry of Energy and Mineral Resources had carried out the main tasks and functions properly. However, oil and gas licensing is not only in the ESDM Ministry, but also in other ministries and institutions.

"Trimming and simplification [regulation and licensing] is important, but investors also need how long it will take to complete all that," he said.

Arcandra Tahar

INTEREST INVESTMENT

The Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar revealed that the presence of 36 oil and gas contractors that applied the gross profit sharing scheme showed that investment commitments in the upstream oil and gas sector rose significantly. With this achievement, Arcandra also dismissed that the use of gross split scheme was not able to attract investors in the upstream oil and gas sector.

"This year the exploration block has sold nine [work areas], last year it sold five blocks. In 2016 and 2015 it sold zero. If there are those who say that the gross split system is not suitable for exploration blocks, it turns out that on December 28, 2018, it has increased by three blocks, "he said.

In addition, until the end of the year there were additional numbers of oil and gas working areas that used gross splits, bringing the total to 36 oil and gas blocks. The ESDM Ministry announced three winners of the Phase III / 2018 Oil and Gas Block auction at the end of December 2018. The three blocks are South's working area Andaman, Sakakemang, and Maratua.

In addition, Arcandra said that the decision to manage the terminated oil and gas block in 2023, the Rimau Block which was operated by Medco E & P, used a gross split scheme.

IN INDONESIAN

Investor Lebih Butuh Kepastian Perizinan


Para kontraktor minyak dan gas bumi tidak mempersoalkan skema kontrak bagi hasil kotor atau gross split, tetapi lebih menginginkan kemudahan dan kepastian waktu untuk mendapatkan perizinan.

Sebanyak 36 koutraktor minyak dan gas bumi menggunakan skema bagi hasil kotor atau gross split selama model itu pertama kali diterapkan pada awal 2017 hingga akhir 2018. Pemerintah mengganti skema bagi hasil bersih atau cost recovery yang menggunakan sistem pengembalian biaya produksi migas dari Anggaran Pendapatan dan Belanja Negara (APBN) kepada kontraktor kontrak kerja sama (KKKS).

Namun, kontraktor diberikan kesempatan untuk tetap menggunakan skema cost recovery hingga kontrak berakhir. Pemerintah mewajibkan kepada seluruh kontrak baru wilayah kerja migas untuk menggunakan skema bagi hasil kotor.

Presiden Indonesian Petroleum Association (IPA) Tumbur Parlindungan mengatakan bahwa pada dasarnya kontraktor tidak memiliki permasalahan dengan rezim gross split atau jenis kontrak lain yang berlaku di negara lain. Pasalnya, setiap negara mempunyai kebijakan rezim kontrak migas berbeda.

“Tidak ada masalah sama gross split, tetapi bagaimana perizinan dan kepastian berapa lama mengurus izin itu dijelaskan,” katanya.

Tumbur menilai bahwa nilai bonus tanda tangan yang dibayar oleh kontraktor kepada negara juga masih dalam angka yang wajar. 

“Kalau kita lihat di negara lain, mereka memungut [bonus tanda tangan] lebih besar, tetapi karena bloknya juga besar," tambahnya.

Terkait dengan potensi investasi hulu migas ke depan, Tumbur mengatakan bahwa potensi reservoir migas di Tanah Air tetap menjanjikan, tetapi perlu didukung dengan peningkatan daya saing nasional. Dalam perspektif investor migas yang tidak hanya fokus di salah satu regional, hitung-hitungan tingkat pengembalian modal menjadi prioritas.

Dalam 3 tahun terakhir, Kementerian ESDM telah memotong banyak kebijakan untuk menciptakan atmosfer investasi migas nasional lebih sederhana. Hampir 200 kebijakan di sektor energi dan pertambangan dipotong oleh Kementerian ESDM.
Melihat hal tersebut, Tumbur mengakui bahwa Kementerian ESDM sudah menjalankan tugas pokok dan fungsi dengan baik. Namun, perizinan migas tidak hanya berada di Kementerian ESDM, tetapi juga di kementerian dan lembaga lain.

“Pemangkasan dan penyederhanaan [regulasi dan perizinan] menjadi penting, tetapi investor juga memerlukan berapa lama waktu yang diperlukan untuk menyelesaikan semua itu,” tuturnya.

MINAT INVESTASI

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengungkapkan bahwa dengan adanya 36 kontrakor minyak dan gas bumi yang menerapkan skema bagi hasil kotor tersebut menunjukkan komitmen investasi di sektor hulu migas naik signifikan. Dengan capaian tersebut, Arcandra pun menepis bahwa penggunaan skema gross split tidak mampu menarik minat para investor di sektor hulu migas.

“Tahun ini blok eksplorasi sudah laku sembilan [wilayah kerja], tahun lalu laku lima blok. Pada 2016 dan 2015 laku nol. Kalau ada yang mengatakan sistem gross split tidak cocok untuk blok eksplorasi, ternyata pada tanggal 28 Desember 2018 justru bertambah tiga blok,” katanya.

Selain itu, hingga akhir tahun ada tambahan jumlah wilayah kerja migas yang menggunakan gross split sehingga total mencapai 36 blok migas.
Kementerian ESDM mengumukan tiga pemenang lelang Blok Migas Tahap III/2018 pada akhir Desember 2018. Ketiga blok itu adalah wilayah kerja South
Andaman, Sakakemang, dan Maratua. 

Selain itu, Arcandra menyampaikan bahwa keputusan pengelolaan blok migas terminasi pada 2023, yaitu Blok Rimau yang dioperatori oleh Medco E&P, menggunakan skema gross split. 

Bisnis Indonesia, Page-24, Wednesday, Jan 2, 2019

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