Gross Investment Returns Split into Attention

Employers want to ensure the scheme did not make the split gross return on investment down

The Minister of Energy and Mineral Resources (ESDM) No. 8/2017 about Gross Production Sharing Contract Split still polemic. This time from the operator of oil and gas. They do not believe this scheme will be able to recoup the investment costs or the Internal Rate of Return (IRR) faster. They'd worry, this scheme will make their investment slow turning.

This contrasts with the belief Ministry of Energy and Mineral Resources (ESDM). Director General of Oil and Gas Ministry of Energy and Mineral Resources, IGN Wiratmaja Puja, stated, IRR upstream oil and gas with gross schemes split will depend on the characteristics of oil and gas reserves in Indonesia. Of course, this is different from other countries. But, "We hope more competitive because of the character of the reservoir is also different," said Wiratmaja.

He compared the gross system in Indonesia which is split by the gross system split in Libya. In terms of the characteristics of an oil and gas stored in the bowels of the earth or reservoir Libya is superior because it is easy to attract investors. However, from the surface side, Indonesia is superior. Especially about security issues. By doing so, Indonesia has become more attractive for investments in upstream oil and gas with a gross system of this split.

Wiratmaja even guarantee a minimum of upstream oil and gas investment in Indonesia will get an IRR of 12%. However, if investors find oil and gas reserves in the field are good enough condition, they can earn up to 20% IRR. "Depending on the field that he can," he said.

As an illustration, the Indonesian oil and gas field is currently mostly in marginal areas or in the sea. So the government set up an additional incentive in the form of a split in the scheme's gross split. In order for IRR can be pursued. We love, the minimum he could IRR of 12%, "he said.

The government hopes the scheme gross split could make Indonesian oil and gas fields to attract investors. "Investors are rarely willing to here, the proof auction Work Area (WK) 'there is no demand," he said. In 2017, the government started offering split gross scheme. Wiratmaja hope that many investors who follow the auction oil and gas blocks in Indonesia. Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong revealed, IPA is always included, almost at every meeting when the government will issue a new policy.

Hence, IPA supports the scheme's gross split for efficiency in the oil and gas industry. "But we want to make sure the economic level does not go down with the current system," he said. Marjolijn call, the current upstream oil and gas investment in Indonesia is less attractive compared to investments in other countries in the region. "Because gross split," this has been enacted, as efforts to continue the improvement we ask study incentives mainly to the deep ocean, voliter and EOR (Enhanced Oil Recovery). In the future we want to go there. We were made better assessment.

He has not been able to give feedback about the minimum gross IRR split could be 12%. "I have never heard that the gross split, minimum IRR is 12%. Is in its Regulation No mention of it? I would first check, but in fact must exist in the Regulation of the Minister of Energy, he said.

Energy observer of ReforMiner Institute Pri Agung Rakhmanto rate, oil and gas contractors principle, the higher the IRR, the more they're interested in. "IRR of 12% may be included economical for contractors, but relatively marginal. IRR 15% only include marginal," said Pri Agung Rakhmanto.

He said, a simple way to compare with previous split gross scheme is the mirror of the IRR in existing oil and field gas already managed oil and gas contractors. "If by the results of their Existing be above 15% IRR her, then offered a split with a gross IRR of 12%, then yes definitely will not blindly accept

Note: Currently, the government only gives an IRR of 5% to Eni Indonesia as operator Cricket Field which is a deepwater field.

IN INDONESIAN

Pengembalian Investasi Gross Split Jadi Sorotan

Pengusaha ingin memastikan skema gross split tak membuat pengembalian investasi turun

  Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) No 8/2017 tentang Kontrak Bagi Hasil Gross Split masih memantik polemik. Kali ini dari operator minyak dan gas. Mereka tak yakin skema ini akan mampu mengembalikan biaya investasi atau Internal Rate of Return (IRR) lebih cepat. Mereka justru khawatir, skema ini akan membuat investasi mereka lambat balik. 

Ini berbeda dengan keyakinan Kementerian Energi dan Sumber Daya Mineral (ESDM). Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM, IGN Wiratmaja Puja, menyatakan, tingkat IRR hulu migas dengan skema gross split akan sangat tergantung pada karakteristik cadangan migas Indonesia. Tentu saja, ini berbeda dengan negara-negara lain. Tapi, “Kami harap lebih kompetitif karena karakter reservoir-nya juga beda," ujar Wiratmaja.

Dia membandingkan sistem gross split di Indonesia yang ini dengan sistem gross split di Libia. Dari segi karakteristik kolam minyak dan gas yang tersimpan di perut bumi atau reservoir Libia lebih unggul karena mudah sehingga menarik minat investor. Namun, dari sisi permukaan, Indonesia unggul. Apalagi soal masalah keamanan. Dengan begitu, Indonesia menjadi lebih menarik untuk masuknya investasi di hulu migas dengan sistem gross split ini.

Wiratmaja bahkan menjamin minimum investasi hulu migas di Indonesia akan mendapatkan IRR sebesar 12%. Namun, bila investor menemukan cadangan migas di lapangan yang kondisinya cukup baik, mereka bisa mendapatkan IRR hingga 20%. "Tergantung lapangan yang dia dapat," katanya.

Sebagai gambaran, lapangan migas Indonesia saat ini mayoritas berada di wilayah marjinal atau laut dalam. Makanya pemerintah menyiapkan insentif berupa tambahan split dalam skema gross split ini. Supaya IRR-nya dapat di kejar. Kami kasih, minimum dia dapat IRR 12%," ujarnya.

Pemerintah berharap skema gross split bisa membuat lapangan migas Indonesia menarik investor. "Investor jarang yang mau ke sini, buktinya lelang Wilayah Kerja (WK) ‘belum ada ada laku," ujarnya. Pada tahun 2017 ini, pemerintah mulai menawarkan skema gross split. Wiratmaja berharap akan banyak investor yang mengikuti lelang blok migas Indonesia. Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong mengungkapkan, IPA selalu disertakan, hampir di setiap rapat saat pemerintah akan mengeluarkan kebijakan baru.

Makanya, IPA mendukung skema gross split ini untuk efisiensi di industri migas. "Tapi kami ingin memastikan tingkat keekonomian tidak turun dengan sistem yang ada sekarang," ujar dia. Marjolijn menyebut, saat ini investasi hulu migas di Indonesia memang kurang menarik dibandingkan dengan investasi di negara lain dalam satu kawasan. "Karena gross split,” ini sudah diundangkan, sebagai upaya continue improvement kami mohon kajian insentif terutama untuk laut dalam, voliter dan EOR (Enhanced Oil Recovery). Ke depannya kami mau kesana. Kami minta dibuat kajian lebih baik.

Dia belum bisa memberikan tanggapan soal gross split minimum IRR bisa 12%. "Saya belum pernah mendengar bahwa dengan gross split, minimum IRR adalah 12%. Apakah di Peraturan Menteri-nya ada menyebutkan hal itu? Saya akan periksa dulu, tetapi sebenarnya harus ada di Peraturan Menteri ESDM, kata dia.

Pengamat Energi dari ReforMiner Institute Pri Agung Rakhmanto menilai, kontraktor migas itu prinsipnya semakin tinggi IRR maka mereka akan semakin tertarik masuk. "IRR 12% mungkin termasuk ekonomis bagi kontraktor, tapi tergolong marginal. IRR 15% saja termasuk marginal,” kata Pri Agung Rakhmanto .

Dia mengatakan, cara sederhana membandingkan skema gross split dengan sebelumnya adalah berkaca pada IRR di lapangan migas eksisting yang sudah dikelola kontraktor migas. "Kalau dengan bagi hasil Eksisting mereka bisa di atas 15% IRR nya, lalu ditawari gross split dengan IRR 12%, ya pasti tidak akan kemudian begitu saja menerima

Catatan: Saat ini pemerintah hanya memberikan IRR 5% kepada Eni Indonesia sebagai operator Lapangan Jangkrik yang merupakan lapangan laut dalam.

Kontan, Page-14, Monday, Jan, 23, 2017

Manage East Natuna, Pertamina to Invite Partners

Ministry of Energy and Mineral Resources (ESDM) furious with the development of East Natuna Block project is increasingly unclear. Therefore, the Ministry of Energy will provide the assigning of PT Pertamina to work on the East Natuna is estimated to reach Rp 165 trillion.

If the government gave the assignment to Pertamina, this means that the principles of the agreement or the principles of agreement (POA) exploration and exploitation of the East Natuna which was signed in 2011 and will end in 2018 null and void, result, stock-sharing agreement based on the POA also participate canceled. POA According to the agreement, Pertamina holds 35%, Esso Natuna Ltd. (a subsidiary of ExxonMobil) and PTT Thailand 35% 15% As well as Total EP latter holding a 15% retreat.

Director General of Oil and Gas Ministry of Energy, IGN Wiratmaja Puja states, with the assignment scheme, Pertamina welcome collaboration with Esso and PTT Thailand in the East Natuna Block. "Share not, go ahead later Pertamina proposed," he said.

Pertamina will get a chance to do business to business talks with partners in the East Natuna Block. That's why Esso Natuna and Thai PTT allowed to buy stocks. According to Pertamina's upstream director, Syamsu Alam, by assignment, Pertamina may invite a partner in the East Natuna block at this time. "How to divide its share, could he asked to the minister."

IN INDONESIAN

Kelola East Natuna, Pertamina Bisa Ajak Mitra

Kementerian Energi dan Sumber Daya Mineral (ESDM) geram dengan perkembangan proyek Blok East Natuna yang kian tidak jelas. Karena itu, Kementerian ESDM akan memberikan penugasan kepada PT Pertamina untuk menggarap proyek East Natuna yang ditaksir mencapai Rp 165 triliun.

Jika pemerintah memberi penugasan ke Pertamina, ini artinya prinsip-prinsip kesepakatan atau principles of agreement (POA) eksplorasi dan eksploitasi wilayah East Natuna yang telah di teken 2011 dan akan berakhir 2018 batal, Hasilnya, kesepakatan pembagian saham berdasarkan POA tersebut ikut batal juga. Sesuai kesepakatan POA, Pertamina memegang 35%, Esso Natuna Ltd (anak usaha ExxonMobil) 35% dan PTT Thailand 15% Serta Total EP

yang belakangan mundur menggenggam 15% . 

Direktur Jenderal Migas Kementerian ESDM, IGN Wiratmaja Puja menyatakan, dengan skema penugasan, Pertamina dipersilakan bekerjasama dengan Esso dan PTT Thailand di Blok East Natuna. "Share belum, silakan nanti Pertamina mengusulkan," katanya.

Pertamina akan mendapat kesempatan untuk melakukan pembicaraan secara business to business dengan mitra di Blok East Natuna. Karena itulah Esso Natuna dan PTT Thai diperkenankan membeli saham. Menurut Direktur Hulu Pertamina, Syamsu Alam, dengan penugasan, Pertamina boleh mengajak mitra yang ada di blok East Natuna saat ini. "Berapa bagi-bagi share-nya, bisa tanyanya ke Pak Menteri."

Kontan, Page-14, Monday, Jan, 23, 2017

Wish Benefits of Gross Split

Oil and Gas Contract

Exactly 12 days a regulation on the production sharing contracts or gross split production sharing contract signed by the Minister of Energy and Mineral Resources Ignatius Jonan. However, the breakthrough was yet to make businesses confident enough to bring fresh air to the competitiveness of the investment and add to the economic field. Tuah gross split is still awaited.

From the Fraser Institute report on Global Petroleum Survey published in December 2016, Indonesia, which has reserves of 23.01 billion barrels of oil equivalent (billion barrels of oil equivalent / bboe) are ranked 79 with a score of 45.83 in terms of policy perceptions index. Perception index established policies and 16 terms, like the terms of the fiscal, taxation, environmental regulation, law enforcement, the cost of regulatory compliance, protected areas, trade barriers, and labor regulations. Including quality of infrastructure, the quality of geological data base, availability of labor and abilities, land acquisition, political stability, security, overlapping and inconsistent regulations, and legal systems.

According to investors, the Indonesian red note there are negative perceptions associated with the regulation of overlapping and inconsistent, land acquisition and trade barriers. Meanwhile, investors assess politically, Indonesia is quite stable and not rnenghalangi interest in investing. Investors assume there are some things that hurt investment even make investors reluctant to invest in Indonesia, such as an obligation. using the rupiah currency in transactions in the country, restrictions on foreign workers, and the implementation of land and building tax (PBB) in the work area off the coast. Investors forced to use labor that is not suitably qualified and goods which are not within specification, which generally comes from China and not from Indonesia.

Indonesia ranked lower compared to other countries in Southeast Asia that have smaller reserves such as Malaysia (19.51 bboe) in the order of 41, Thailand (2.03 bboe) in the order of 42, and Vietnam (9.02 bboe) on the line to -38. For comparison, Thailand with an index of 67.01 is considered superior because the government does not oblige the investor to prioritize the use of labor also all material and equipment locally. Nevertheless, investors are finally using labor and local products because it is more attractive economically not because of regulatory demands.

Executive Director of the Indonesian Petroleum Association (IPA) Marjolijn Wajong said it had asked the government to conduct a comprehensive study whether this breakthrough puts Indonesia to the ranks of the most targeted country for investment. Further, he said that the government had to give an idea of ​​how when the production sharing contract (PSC) gross split applied to the working area which still have to bear the burden of costs that can not be returned (sunk) and capital invested has not returned. The reason, he explained assess new picture when the working area began to produce oil or gas.

"Say've seen better economical, but whether it is competitive against other countries? A more detailed study, it is also necessary to work areas that are in the deep ocean, remote areas (frontier) are also working areas that exist in tertiary production stage. He called the study will give you an idea whether the PSC split gross able to compensate for the constraints of field development with the level of difficulty as it will be the development direction of the next few years.

On the other hand, he supported the government's desire to encourage more efficient industry. However, it still requires the certainty that this breakthrough can boost economic scale projects rather than using the PSC cost recovery. "Because now even attractiveness for people to invest here was less than in the region around us," he said.

TOO EARLY

Deputy Minister Arcandra Tahar admit may be still a weakness for these policies. Nevertheless, it is too early to judge or guess what will happen with the enactment of gross PSC split. For the new work area, interest in investment, exploration and production activities, he hopes gross PSC split could be a new supplement. However, be sure, he claimed to need to look at block Offshore North West Java (ONWJ), which became the first to apply the working area gross PSC split.

Director General of Oil and Gas IGN Wiratmaja Puja recognize Indonesian investment competitiveness remains low. Proven by offering 14 new work areas were conducted in mid 2016, has not yet signed a contract.

Although there has been a potential candidate to dump one of the seven areas of work offered directly, namely the working area that had previously been carried out collaborative studies. On offer schemes like this, usually investors who do study participants could be preferred when the bidding is done.

Of the three working areas of interest, namely Ebuny (offshore Southeast Sulawesi), Orrin (onshore-offshore West Papua) and West Kaimana (onshore-offshore West Papua) only one of which has now met the technical and financial aspects. In fact, the working area of ​​the deals, the government give freedom to their own set of potential investors for the results (split), the proposed activities are also a signature bonus. The high signature bonuses in want of government which is about US $ 500 000 was to make investors have not glanced at the work area has to offer.

At the next auction, investors can still customize their own signature bonus to be paid and the government will provide a basic split (base split) between the government and the contractor that is 57:43 to 52:48 for the development of oil and gas. Furthermore, it can be changed with a variable component and progressive.

From the aspect of licensing, it has been simplified from 104 to 42 and became the four licensing only two permits in the upstream and four downstream permit. Thus, application of the gross PSC split is expected to have significant impact on upstream investment interest in the country. When compared, Indonesia ahead of Libya that use gross PSC split despite having differences. From the reservoir, Libya offers lower risk. However, other aspects such as security are even lower and made investors think twice to make Libya as investment objectives.

In terms of economics, he was not sure whether the economic field in Indonesia is better than other countries. At the very least, the government could provide incentives for fields that have a payback ratio (internal rate of return / IRR) of less than 12%.

Too early indeed when assessing gross split will dim the investment because the cost of government replaced the previous operation, is now the responsibility of the contractor. However, investors need to have certainty and comprehensive picture that can ensure that the breakthroughs continue in a long time.

       Because the cooperation contract was signed for 30 years with an extension period of up to 20 years, much longer than the presidential term that can only lead two consecutive periods during the ten years

IN INDONESIAN

Berharap Tuah dari Gross Split

Tepat 12 hari beleid tentang kontrak bagi hasil atau production sharing contract gross split ditandatangani Menteri Energi dan Sumber Daya Mineral Ignasius Jonan. Namun, terobosan itu belum juga membuat pelaku usaha cukup yakin membawa angin segar terhadap daya saing investasi dan menambah keekonomian lapangan. Tuah gross split pun masih dinanti.

Dari laporan Fraser Institute tentang Global Petroleum Survey yang diterbitkan pada Desember 2016, Indonesia yang memiliki cadangan 23,01 miliar barel setara minyak (billion barrel oil equivalent/bboe) berada di urutan 79 dengan skor 45,83 dalam hal indeks persepsi kebijakan. Indeks persepsi kebijakan dibentuk dan 16 hal, seperti syarat-syarat fiskal, sistem perpajakan, aturan lingkungan hidup, penegakan hukum, biaya untuk kepatuhan regulasi, area yang dilindungi, hambatan perdagangan, dan regulasi ketenagakerjaan. Termasuk juga kualitas infrastruktur, kualitas basis data geologi, ketersediaan tenaga kerja dan kemampuan, pembebasan lahan, kestabilan politik, keamanan, tumpang tindih dan inkonsistensi regulasi, dan sistem hukum.

Menurut investor, catatan merah Indonesia yakni masih terdapat persepsi negatif terkait dengan regulasi yang tumpang tindih dan inkonsisten, pembebasan lahan dan hambatan perdagangan. Sementara itu, investor menilai secara politik, Indonesia cukup stabil dan tak rnenghalangi minat berinvestasi. Investor menganggap terdapat beberapa hal yang mengurangi minat investasi bahkan membuat investor enggan menanamkan modal di Indonesia, seperti kewajiban. menggunakan mata uang rupiah dalam melakukan transaksi di dalam negeri, pembatasan tenaga kerja asing, dan penerapan pajak bumi dan bangunan (PBB) pada wilayah kerja lepas pantai. Investor terpaksa menggunakan tenaga kerja yang tak sesuai kualifikasi dan barang yang tak sesuai spesifikasi, yang umumnya berasal dari China dan bukan dari Indonesia.

Peringkat Indonesia lebih rendah dibandingkan dengan negara lain di Asia Tenggara yang memiliki cadangan lebih kecil seperti Malaysia (19,51 bboe) di urutan 41, Thailand (2,03 bboe) di urutan 42, dan Vietnam (9,02 bboe) pada jajaran ke-38. Sebagai pembanding, Thailand dengan indeks 67,01 dianggap lebih unggul karena pemerintah tak mewajibkan investor untuk mengutamakan penggunaan tenaga kerja juga seluruh material dan peralatan lokal. Kendati demikian, investor akhirnya menggunakan tenaga kerja dan produk lokal karena lebih menarik secara ekonomi bukan karena tuntutan regulasi.

Direktur Eksekutif Indonesia Petroleum Association (IPA) Marjolijn Wajong mengatakan pihaknya meminta agar pemerintah melakukan kajian komprehensif apakah terobosan ini menempatkan Indonesia ke jajaran negara yang paling dituju untuk menanamkan modal. lebih lanjut, dia menilai pemerintah pun harus memberikan gambaran bagaimana ketika production sharing contract (PSC) gross split diterapkan pada wilayah kerja yang masih harus menanggung beban biaya yang tak bisa dikembalikan (sunk cost) dan modal yang ditanamkan belum kembali. Pasalnya, dia menilai gambaran yang dijelaskan baru ketika wilayah kerja mulai menghasilkan minyak atau gas bumi.

“Katakanlah sudah dilihat keekonomiannya lebih bagus, tapi apakah itu cukup kompetitif terhadap negara lain? Kajian yang lebih detail, diperlukan pula untuk wilayah kerja yang berada di laut dalam, daerah terpencil (frontier) juga wilayah kerja yang ada pada tahapan produksi tersier. Dia menyebut kajian tersebut akan memberikan gambaran apakah PSC gross split bisa memberi kompensasi atas kendala pengembangan lapangan dengan tingkat kesulitan seperti itu yang akan menjadi arah pengembangan beberapa tahun mendatang.

Di sisi lain, dia mendukung keinginan pemerintah untuk mendorong agar industri lebih efisien. Namun, pihaknya masih memerlukan kepastian bahwa terobosan ini mampu menaikkan skala ekonomi proyek daripada menggunakan PSC cost recovery. “Karena sekarang pun attractiveness untuk orang berinvestasi di sini itu kurang dibandingkan dengan di region sekeliling kita ini,” katanya.

TERLALU DINI

Wakil Menteri ESDM Arcandra Tahar mengakui mungkin saja masih terdapat kelemahan atas kebijakan tersebut. Kendati demikian, terlalu dini untuk menilai atau menduga apa yang akan terjadi dengan diberlakukannya PSC gross split. Untuk wilayah kerja baru, minat investasi, kegiatan eksplorasi dan produksi, dia berharap PSC gross split bisa menjadi suplemen baru. Namun, secara pastinya, dia mengaku perlu melihat pada blok Offshore North West Java (ONWJ) yang menjadi wilayah kerja pertama yang menerapkan PSC gross split.

Direktur Jenderal Minyak dan Gas Bumi IGN Wiratmaja Puja mengakui daya saing investasi Indonesia masih rendah. Terbukti dengan penawaran 14 wilayah kerja baru yang dilakukan pada pertengahan 2016, belum satu pun yang ditandatangani kontraknya.

Meskipun telah terdapat satu calon potensial yang melego satu di antara tujuh wilayah kerja yang ditawarkan secara langsung, yakni wilayah kerja yang sebelumnya telah dilakukan kajian bersama. Pada skema penawaran seperti ini, biasanya investor yang melakukan kajian bisa menjadi peserta yang diutamakan saat penawaran dilakukan.

Dari tiga wilayah kerja yang diminati yaitu Ebuny (lepas pantai Sulawesi Tenggara), Orrin (darat-lepas pantai Papua Barat) dan West Kaimana (darat-lepas pantai Papua Barat) hanya satu yang kini telah memenuhi aspek teknis dan finansial. Padahal, pada penawaran wilayah kerja tersebut, pemerintah memberikan kebebasan kepada calon investor menetapkan sendiri bagi hasil (split), usulan kegiatan juga bonus tanda tangan. Tingginya bonus tanda tangan yang di inginkan pemerintah yakni sekitar US$ 500.000 ternyata membuat investor belum melirik wilayah kerja yang ditawarkan.

Pada lelang berikutnya, investor masih bisa menyesuaikan sendiri bonus tanda tangan yang harus dibayar dan pemerintah akan memberikan split dasar (base split) antara pemerintah dan kontraktor yakni 57:43 untuk pengembangan minyak dan 52:48 untuk gas. Selanjutnya, bisa berubah dengan komponen variabel dan progresif.

Dari aspek perizinan, pihaknya telah menyederhanakan dari 104 menjadi 42 dan menjadi empat perizinan saja yakni dua izin di hulu dan empat izin di hilir. Dengan demikian, penerapan PSC gross split diharapkan membawa dampak signifikan terhadap minat investasi hulu Tanah Air. Bila dibandingkan, Indonesia lebih unggul dari Libya yang menggunakan PSC gross split meskipun memiliki perbedaan. Dari sisi reservoir, Libya menawarkan risiko yang lebih rendah. Namun, aspek lainnya seperti keamanan justru lebih rendah dan membuat investor berpikir ulang untuk menjadikan Libya sebagai

tujuan investasi.

Dari sisi keekonomian, dia belum bisa memastikan apakah keekonomian lapangan di Indonesia lebih baik dari negara lainnya. Paling tidak, pemerintah bisa memberikan insentif bagi lapangan-lapangan yang memiliki rasio pengembalian modal (internal rate of return/IRR) kurang dari 12%.

Terlalu dini memang bila menilai gross split akan meredupkan investasi karena biaya operasi yang sebelumnya diganti pemerintah, kini menjadi tanggungan kontraktor. Namun, investor perlu mendapat kepastian dan gambaran menyeluruh yang bisa meyakinkan bahwa terobosan tersebut berlanjut dalam waktu yang lama.

Pasalnya, kontrak kerja sama diteken untuk 30 tahun dengan masa perpanjangan hingga 20 tahun, jauh lebih panjang dari masa jabatan presiden yang hanya bisa memimpin dua periode selama berturut-turut yakni sepuluh tahun

Bisnis indonesia, Page-1, Monday, Jan, 23, 2017

New scheme touted as speeding up output

The government expects the newly introduced gross-split sliding scale on upstream oil and gas projects to reduce the waiting period between discovery and first production, allowing both the government and operators to enjoy faster revenues. The new scheme is regulated by Energy and Mineral Resources Ministry Decree No. 8 of 2017 on the gross-split sliding scale. Unlike with the previously applied cost recovery scheme, the government will no longer reimburse companies for exploration and exploitation activities, hence the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) no longer needs to review investors’ annual budgets for upstream activities.

The ministry expects this to be a boon for contractors, as they will face less red tape and have more control over their activities and finances. “When we put the new regulation in force, we have high hopes that it can shorten the time frame by two to three years,” Deputy Energy and Mineral Resources Minister Arcandra Tahar said.

According to data from the ministry an average 15 years pass from the discovery of new oil and gas reserves to first production. This compares to an average five years during the heyday of Indonesia’s upstream business in the 1970s. Much of the lag between discovery and production is due to back-and-forth negotiations between contractors and SKK Migas.

Under that mechanism, contractors could spend between six months and a year just to prepare documents and negotiate with SKK Migas during the engineering, procurement, construction and installation (EPCI) phase, while the front end engineering design (FEED) could take an additional two years. If production started earlier, Arcandra said, then both the government and contractors could start raking in profits. “The sooner you start production the better value for money" he said.

Despite the governments enthusiasm about what it expects to be a shorter time to production, investors seem less concerned about the time span and more worried about whether the gross-split scheme will make complex projects more enticing, as the country’s current reserves face rapid depletion. “As a means for continuous improvement, we ask the government to conduct a comprehensive review in relation to the gross-split scheme for the development of deepwater, frontier, enhanced oil recovery and exploration projects, as that is where we are headed. How will these projects remain economically feasible while we have to shoulder the costs prior to production?” Indonesian Petroleum Association (IPA) executive director Marjolijn Wajong said.

Under the new scheme, the profit split between the government and contractors will “slide” up and down depending on several factors, including the status of the field, the location, depth and type of the reservoir, the amount of carbon dioxide, the use of local industrial content and the stage of production.

These variables will affect the base split, which the new regulation sets at a minimum 43 percent for companies in oil projects and 48 percent in gas projects. Meanwhile, under the cost recovery scheme, investors were only entitled to 15 percent of the profit of an oil project and 30 percent ofa gas project, with the rest going to the government.

Jakarta Post, Page-13, Saturday, Jan, 21, 2017

2017, Pertamina Hulu Energi Invest Approximately US $ 1 Billion

PT Pertamina Hulu Energi (PHE) plans to invest approximately US $ 1 billion this year. The fund will be used to boost oil production of 62 thousand barrels per day (bpd) to 64 thousand barrels per day and gas of 780 MMSCFD to over 800 MMSCFD

President Director of Pertamina Hulu Energi Mount Sardjono Hadi said, the amount of investment is still to be assessed again after signing Block Offshore North West Java (ONWJ) with gross profit sharing scheme (gross split). Because the planned investment of $ 1 billion is still assumes ONWJ contract with cost recovery scheme. "Investments depend on ONWJ, because he was quite big (investment) average of US $ 500 million. So half (investment) in ONWJ because he is the backbone of production, "he said.

He explained, in cooperation contracts (production sharing contract / PSC) long, PHE still has a partner in working ONWJ. When the gross PSC split contract is signed, this block is assigned 100% to Pertamina with the opportunity to release some of the participation rights of existing partners and must split 10% to the local government. "To ONWJ assumption in 2017, we still bear the 100% because there is no

partner, "he said.

With an investment of around US $ 1 billion in the Mountains is targeting an increase in oil and gas production. In the past year, the realization of PHE oil production totaled 62 thousand barrels per day and about 780 MMSCFD gas. While this year, oil production is targeted to increase to 64 thousand barrels per day and gas at over 800 MMSCFD. "Increased production mainly comes from ONWJ and West Madura Offshore block with POD (plan of development ) integrated," said Mount Sardjono Hadi.

Admittedly, oil and gas production from other assets PHE relatively stable. This is because most of the oil and gas run PHE an old field (mature). While some other block contract is almost up, like Block Ogan Ogan, Offshore North Sumatra, and Jambi Merang.

Some blocks are almost out of contract like Block Ogan Ogan, North Sumatra Offshore, and Tuban, has confirmed the government handed over its management to Pertamina. Until a new contract is planned to also use split gross signed, Mount admits he can not most of the investment in order to increase production assets. This means that there are some costs that must be considered first, because the contract expired in 2018. So in 2017, to block termination, will be maintained so that the production is not too down. It makes our investment control, unless the contract (new) signed today.

Contribution of 40%

Meanwhile, PT Pertamina estimate the contribution of oil production to the national oil production will increase to 30-40%, from the previous 24%. This follows the management exerts eight oil and gas blocks out of contract in 2018. Pertamina's upstream director Syamsu Alam said, giving a block out of contract by the government is to encourage the state-owned oil and gas company. Although most of these oil and gas blocks, including blocks of old (mature), is optimistic his side can still be managed economically.

Additional production from these blocks will be derived after 2018. With ditambahnya blocks that must be managed, the company contributes to the national oil production will increase. Now (the national oil production) the 825 thousand barrels per day (bpd), Pertamina (production) Domestic 220 thousand bpd. If it is added (8 blocks), added to 30-40% of the national oil production.

Until this, the contribution of oil production compared with the national oil production is only about 24%. While the state-owned oil and gas company most other ordinary countries contribute to 90% of the total production of the country. In fact, as the national oil company Petronas Malaysia, capable of contributing up to 54% of the total national production.

Related anticipation of increased investment of an additional eight oil and gas blocks, Nature calls, it still had to discuss the details of the cooperation contract production sharing contract / PSC) of the block with the Special Unit of Upstream Oil and Gas (SKK Migas). He said he already submitted proposals for the development plan of the eight oil and gas block.

"But we still assume PSC her still as now (cost recovery scheme) to calculate its economic value. Later we shall see what (with gross schemes split), "he explained. Another thing that is also still to be discussed is the matter of the obligation to set aside funds post-mining (abandonment and site restoration / ASR). The reason, he added, ASR obligation blocks out of contract this must be borne by the new contractor, which means Pertamina.

This obligation would change the economics of oil and gas block count. "If yesterday ASR so cost recovery, the future might not be. It will be like what? There will inevitably lead to its economical impact, "said Alam.

       However, the government policy about eight oil and gas blocks is in line with the target set to take over the management of oil and gas blocks that the contract runs out. In fact, Pertamina expects to contribute up to 50% of the total national oil and gas production in 2025. Pertamina expects to boost its oil production to 1.9 million barrels of oil equivalent per day in 2025.

        Therefore, Pertamina must boost its oil and gas production to be increased by 8% per year. The increase in production is expected from one of them over the governance of oil and gas blocks out of contract in which the company is targeting an additional 450 thousand barrels of oil equivalent per day.

IN INDONESIAN

2017, Pertamina Hulu Energi Investasi Sekitar US$ 1 Miliar

PT Pertamina Hulu Energi (PHE) merencanakan investasi sekitar US$ 1 miliar pada tahun ini. Dana tersebut akan dipakai untuk menggenjot produksi minyak dari 62 ribu barel per hari (bph) menjadi 64 ribu bph dan gas dari 780 mmscfd menjadi di atas 800 mmscfd

Presiden Direktur Pertamina Hulu Energi Gunung Sardjono Hadi menuturkan, besaran investasi tersebut masih akan dikaji lagi setelah penandatanganan Blok Offshore North West Java (ONWJ) dengan skema bagi hasil kotor (gross split). Pasalnya, rencana investasi USS 1 miliar tersebut masih mengasumsikan kontrak Blok ONWJ dengan skema cost recovery. “Investasi depend on ONWJ, karena dia cukup besar (investasinya) rata-rata US$ 500 juta. Jadi setengahnya (investasi) di ONWJ karena dia backbone produksi,” kata dia.

Dia menjelaskan, dalam kontrak kerja sama (production sharing contract/PSC) yang lama, PHE masih memiliki mitra dalam menggarap Blok ONWJ. Ketika kontrak PSC gross split diteken, blok ini ditugaskan 100% kepada Pertamina dengan kesempatan melepas sebagian hak partisipasinya kepada mitra eksisting dan wajib membagi 10% kepada pemerintah daerah setempat. “Untuk Blok ONWJ asumsinya di 2017 ini kami masih menanggung 100% karena belum ada

mitra,” ujarnya.

Dengan investasi di kisaran US$ 1 miliar tersebut, Gunung menargetkan adanya peningkatan produksi migas. Pada tahun lalu, realisasi produksi minyak PHE tercatat sebesar 62 ribu bph dan gas sekitar 780 mmscfd. Sementara pada tahun ini, produksi minyak ditargetkan naik menjadi 64 ribu bph dan gas di atas 800 mmscfd. “Peningkatan produksi utamanya berasal dari Blok ONWJ dan Blok West Madura Offshore dengan POD (plan ofdevelopment/rencana pengembangan) terintegrasi,” kata Gunung Sardjono Hadi. 

Diakuinya, produksi migas dari aset-aset lain PHE relatif stabil. Hal ini lantaran sebagian blok migas yang dikelola PHE merupakan lapangan tua (mature). Sementara beberapa blok lain kontraknya sudah hampir habis, seperti Blok Ogan Komering, North Sumatera Offshore, dan Jambi Merang.

Beberapa blok yang hampir habis kontrak seperti Blok Ogan Komering, North Sumatera Offshore, dan Tuban, telah dipastikan pemerintah diserahkan pengelolaannya kepada Pertamina. Sampai kontrak baru yang rencananya juga menggunakan gross split diteken, Gunung mengakui pihaknya tidak bisa kebanyakan investasi guna menaikkan produksi aset-aset. Artinya ada beberapa cost yang harus diperhitungkan dulu, karena kontrak habis tahun 2018. Jadi di 2017, untuk blok terminasi, akan dijaga agar produksi tidak terlalu turun. Jadinya investasinya kita kontrol, kecuali kontrak (barunya) diteken sekarang.

Kontribusi 40%

Sementara itu, PT Pertamina memperkirakan kontribusi produksi minyaknya terhadap produksi minyak nasional bakal naik menjadi 30-40%, dari sebelumnya sekitar 24%. Hal ini menyusul diberikannya pengelolaan delapan blok migas yang habis kontraknya pada 2018. Direktur Hulu Pertamina Syamsu Alam mengatakan, pemberian blok habis kontrak oleh pemerintah ini memang untuk mendorong perusahaan migas pelat merah itu. Meski kebanyakan blok migas ini termasuk blok tua (mature), pihaknya optimistis tetap dapat dikelola secara ekonomi.

Tambahan produksi dari blok-blok ini akan diperoleh perseroan setelah 2018. Dengan ditambahnya blok yang harus dikelola, kontribusi perseroan terhadap produksi minyak nasional akan meningkat. Sekarang (produksi minyak nasional) kan 825 ribu barel per hari (bph), Pertamina (produksi) domestik 220 ribu bph. Kalau tambah itu (8 blok), tambah menjadi 30-40% dari produksi minyak nasional.

Sampai ini, kontribusi produksi minyak Pertamina dibandingkan dengan produksi minyak nasional baru sekitar 24%. Sementara perusahaan migas pelat merah negara biasa lain kebanyakan berkontribusi sampai 90% dari total produksi negara tersebut. Bahkan, Petronas sebagai perusahaan migas nasional Malaysia, mampu berkontribusi sampai 54% dari total produksi nasional. 

Terkait antisipasi peningkatan investasi dari tambahan delapan blok migas ini, Alam menyebut, pihaknya masih harus membahas detail kontrak kerja sama production sharing contract/PSC) blok tersebut dengan Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas). Pihaknya memang sudah memasukkan proposal rencana pengembangan delapan blok migas tersebut.

“Tetapi kami masih berasumsi PSC-nya masih seperti sekarang (skema cost recovery) untuk menghitung keekonomian-nya. Nanti kami harus lihat seperti apa (dengan skema gross split),” jelas dia. Hal lain yang juga masih akan dibahas adalah soal kewajiban menyisihkan dana pascatambang (abandonment and site restoration/ASR). Pasalnya, tambah dia, kewajiban ASR blok-blok habis kontrak ini harus ditanggung oleh kontraktor baru yang berarti Pertamina. 

Kewajiban ini bakal mengubah hitungan keekonomian blok migas tersebut. “Kalau kemarin ASR jadi cost recovery, ke depan mungkin tidak. Ini akan seperti apa?  Pasti akan mengakibatkan ada impact keekonomian-nya,” kata Alam.

       Namun, kebijakan pemerintah soal delapan blok migas ini sejalan dengan target Pertamina untuk mengambil alih pengelolaan blok-blok migas yang habis kontrak. Bahkan, Pertamina menargetkan dapat berkontribusi sampai 50% dari total produksi migas nasional pada 2025 nanti. Pertamina menargetkan dapat menggenjot produksi migas-nya menjadi 1,9 juta barel setara minyak per hari pada 2025. 

Untuk itu, Pertamina harus menggenjot produksi migas-nya agar naik 8% per tahun. Peningkatan produksi salah satunya diharapkan dari alih kelola blok migas habis kontrak dimana perseroan menargetkan tambahan 450 ribu barel setara minyak per hari.

Investor Daily, Page-9, Saturday, Jan, 21, 2017

Cepu production to be boosted to 200 Thousand Barrels Per Day

Minister of Energy and Mineral Resources (ESDM), Ignatius Jonan, said crude oil production Banyu Urip, Cepu, Bojonegoro District, will be increased from the current 180 thousand barrels per day to 200 thousand barrels per day. However, the increase in crude oil production was still awaiting the approval of the environmental impact assessment (EIA) of the Ministry of Environment. "Currently SKK Migas and ExxonMobil Cepu Limited (EMCL) is preparing in order to EIA approval from the Ministry of Environment could be faster," he said during a visit in the oil and gas field Banyu Urip, Cepu Block in Bojonegoro.

According Jonan, the increase in crude oil production from Banyu Urip Cepu Block this could add to the national crude oil production. Currently, he said, the national crude oil production of about 815 thousand barrels per day. About 20 per cent of national crude oil production was obtained from crude oil production from Banyu Urip, Cepu Block in Bojonegoro. "If the government wanted to increase production this can be done the sooner the better, he said.

Vice President of Public and Government Affairs ExxonMobil Cepu Limited (EMCL) Erwin Maryoto, adding, this time actually already done trials increased production of crude oil in Banyu Urip, Cepu, ie the range of 200 thousand to 203 thousand barrels per day. "We were asked by SKK Migas conducting trials with high production.

Crude oil production without new facilities could reach over 185 thousand barrels per day. Then, we also test production of 200 thousand barrels per day. According to Erwin, pending approval from the Ministry of Environment EIA, crude oil production in Banyu Urip, Cepu, tested this week raised. Already the trial and there was no problem.

SKK Migas head, Amien Sunaryadi, said the potential crude oil reserves Banyu Urip, Cepu, estimated to exceed the original estimate. Previous crude reserves Banyu Urip was about 450 million barrels per day. Currently being investigated reserve estimates of crude oil Banyu Urip was about 520 million barrels. In fact, there are probable reserves of crude oil Banyu Urip was approximately 729 million barrels.

Crude oil production from Banyu Urip, Cepu, comes from 45 wells. Oil and gas fields Banyu Urip, Cepu, located diareal area of ​​450 hectares in the District Gayam, Bojonegoro. In addition to oil and gas fields Banyu Urip, Cepu, the EMCL is also developing oil and gas fields Kedung Keris is expected to produce 5,000 barrels of crude oil per day.

Support Refinery Mini

During his visit, Jonan also expressed support for the desire producing areas of oil and gas as Bojonegoro to establish a mini refinery. Government support if local governments want to build a refinery mini (mini refinery) to use their own money, "said Jonan.

According to him, the current government it takes a lot of crude oil refineries. He said, currently national crude oil consumption needs of about 1.6 million barrels per day. Meanwhile, the ability of crude oil refineries in Indonesia currently only about 800 thousand barrels per day.

IN INDONESIAN

Produksi Blok Cepu Akan Digenjot 200 Ribu Barel Per Hari

Menteri Energi dan Sumber Daya Mineral (ESDM), Ignasius Jonan, mengatakan, produksi minyak mentah lapangan Banyu Urip, Blok Cepu, di Kabupaten Bojonegoro, akan dinaikkan dari saat ini 180 ribu barel per hari menjadi 200 ribu barel per hari. Namun, peningkatan produksi minyak mentah itu masih menunggu persetujuan analisis mengenai dampak lingkungan (Amdal) dari Kementerian Lingkungan Hidup. “Saat ini SKK Migas dan ExxonMobil Cepu Limited (EMCL) sedang mempersiapkan agar persetujuan Amdal dari Kementerian Lingkungan Hidup bisa lebih cepat," ujarnya saat berkunjung di lapangan migas Banyu Urip, Blok Cepu di Bojonegoro.

Menurut Jonan, peningkatan produksi minyak mentah dari lapangan Banyu Urip Blok Cepu ini bisa menambah produksi minyak mentah nasional. Saat ini, kata dia, produksi minyak mentah nasional sekitar 815 ribu barel per hari. Sekitar 20 persen produksi minyak mentah nasional itu diperoleh dari produksi minyak mentah dari lapangan Banyu Urip, Blok Cepu di Bojonegoro. “Kalau dari pemerintah inginnya peningkatan produksi ini bisa dilakukan lebih cepat lebih baik, ujarnya. 

Vice President Public and Government Affairs ExxonMobil Cepu Limited (EMCL) Erwin Maryoto, menambahkan, saat ini sebenarnya sudah dilakukan ujicoba peningkatan produksi minyak mentah di lapangan Banyu Urip, Blok Cepu, yakni dikisaran 200 ribu hingga 203 ribu barel per hari. “Kami diminta oleh SKK Migas melakukan ujicoba dengan produksi tinggi. 

Produksi minyak mentah tanpa fasilitas baru bisa mencapai di atas 185 ribu barel per hari. Kemudian, kami juga ujicoba produksi di atas 200 ribu barel per hari. Menurut Erwin, sambil menunggu persetujuan amdal dari Kementerian Lingkungan Hidup, produksi minyak mentah di lapangan Banyu Urip, Blok Cepu, dalam seminggu ini diuji coba dinaikkan. Sudah dilakukan percobaan dan tidak ada masalah.

Kepala SKK Migas, Amien Sunaryadi, mengatakan, potensi cadangan minyak mentah lapangan Banyu Urip, Blok Cepu, diperkirakan melebihi perkiraan semula. Sebelumnya cadangan minyak mentah lapangan Banyu Urip sekitar 450 juta barel per hari. Saat ini sedang diteliti perkiraan cadangan minyak mentah lapangan Banyu Urip sekitar 520 juta barel. Bahkan, ada kemungkinan cadangan minyak mentah lapangan Banyu Urip sekitar 729 juta barel.

Produksi minyak mentah dari lapangan Banyu Urip, Blok Cepu, berasal dari 45 sumur. Lapangan migas Banyu Urip, Blok Cepu, berada diareal seluas 450 hektare di wilayah Kecamatan Gayam, Kabupaten Bojonegoro. Selain lapangan migas Banyu Urip, Blok Cepu, pihak EMCL juga sedang mengembangkan lapangan migas Kedung Keris yang diperkirakan bisa memproduksi minyak mentah sebesar 5.000 barel per hari.

Dukung Kilang Mini 

Dalam kunjungannya, Jonan juga menyatakan dukungan atas keinginan daerah penghasil minyak dan gas bumi seperti Kabupaten Bojonegoro untuk mendirikan kilang mini. Pemerintah mendukung kalau pemerintah daerah mau membangun kilang mini (mini refinery) pakai duit sendiri,” kata Jonan.

Menurutnya, saat ini pemerintah memang butuh banyak kilang pengolahan minyak mentah. Ia menyebutkan, saat ini kebutuhan konsumsi minyak mentah nasional sekitar 1,6 juta barel per hari. Sedangkan, kemampuan kilang pengolahan minyak mentah di Indonesia saat ini baru sekitar 800 ribu barel per hari.

Koran Sindo, Page-16, Saturday, Jan, 21, 2017

Oil and Gas Production Time Can Be Faster

Strategy

Deputy Minister of Energy and Mineral Resources Arcandra Tahar ensure future oil and gas production from exploration activities to be faster 2-3 years with the concept for the production of gross or gross split. The concept is considered more modest than the concept of revenue sharing with the component cost recovery or operating costs that can be replaced.

According Arcandra, since the era of the 2000s, the contractor takes 15-16 years from the quest for oil to the production stage using the concept for the results. With the time savings, operating costs can be much more efficient contractor.

"Time of 2-3 years who no longer needed it is time for the preparation of the FEED (front end engineering design / design basic planning) to EPC (engineering, procurement and construction / planning, procurement, and construction). They are free to arrange them without alternating seek approval SKK Migas on average takes 2-3 years, "said Arcandra.

Nevertheless, the concept of gross split can not guarantee that oil and gas production in the country will increase exploration activities rose, or make oil and gas investments in the country improves, certainly, further Arcandra, massive parts of the country in this concept more clearly. This concept can be improved. "Time will tell whether the split made a gross investment climate for the better and so on," said Arcandra.

Director General of Oil and Gas Ministry of Energy and Mineral Resources Wiratmaja I Gusti Nyoman added that the central government has a lot to cut and merge a number of licensing. Currently, permits oil and gas sector in the Ministry of Energy and Mineral Resources only six types, namely two permits in the upstream and four licenses in the downstream.

"The year before required 42 permits. In fact, in the past can be more than 100 licenses. Now only six permits, and it has a maximum or can not be summarized again. It's part of an effort accelerate and simplify the bureaucracy, "said Wiratmaja.

Executive Director of the economic value of the Indonesian Petroleum Association (IPA) Marjolijn Wajong said, the concept of gross split should not lower the economic value of an oil and gas field when compared with the concept of cost recovery. Moreover, said Marjolijn, oil and gas investment climate amid sluggish in recent years. Investments in this sector also decreased with the drop in oil prices.

"We remain supportive of this concept. Just do not get the economic value of oil and gas projects will be lower when compared to the concept of cost recovery, "said Marjolijn. The Government has issued Decree No. 8 of 2017 Energy and Mineral Resources on the Production Sharing Contract Gross Split. This concept applies to new oil and gas contracts and contracts that have been terminated. As for the oil and gas contract extension result, contractors have two options, whether to use gross split or cost recovery.

Oil and gas contracts are still ongoing cost recovery will be respected until the end of his contract. Model gross split was first applied to the Offshore North West Java (ONWJ) managed by full-PT Pertamina Hulu Energi ONWJ on Wednesday (18/1). With the model of the contract, part of the state is set at 47.5 percent and 52.5 percent for the contractor parts oil.

As for natural gas, the state's share of 37.5 percent, while the contractor 62.5 percent. Contract Pertamina Hulu Energi ONWJ on the force for 20 years or until January 17, 2037.

IN INDONESIAN

Masa Produksi Minyak dan Gas Bisa Lebih Cepat

Wakil Menteri Energi dan Sumber Daya Mineral Arcandra Tahar menjamin masa produksi minyak dan gas bumi sejak kegiatan eksplorasi menjadi lebih cepat 2-3 tahun dengan konsep bagi hasil produksi bruto atau gross split. Konsep tersebut dinilai lebih sederhana dibanding konsep bagi hasil dengan komponen cost recovery atau biaya operasi yang dapat digantikan.

Menurut Arcandra, sejak era 2000-an, kontraktor butuh waktu 15-16 tahun sejak usaha pencarian minyak hingga tahap produksi dengan menggunakan konsep bagi hasil. Dengan adanya penghematan waktu, biaya operasi kontraktor bisa jauh lebih hemat.

”Waktu 2-3 tahun yang tidak diperlukan lagi itu adalah waktu untuk penyusunan FEED (front end engineering design /desain perencanaan dasar) hingga EPC (engineering, procurement and construction/perencanaan, pengadaan, dan konstruksi). Mereka bebas menyusunnya tanpa bolak-balik meminta persetujuan SKK Migas yang rata-rata butuh waktu 2-3 tahun,” ujar Arcandra.

Meski demikian, konsep gross split tidak bisa menjamin bahwa produksi migas dalam negeri akan meningkat, kegiatan eksplorasi naik, atau membuat  investasi migas dalam negeri membaik, yang pasti, lanjut Arcandra, besaran bagian negara dalam konsep ini lebih jelas. Konsep ini masih bisa diperbaiki. ”Waktu yang akan membuktikan apakah dengan gross split membuat iklim investasi menjadi lebih baik dan sebagainya,” ujar Arcandra.

Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM I Gusti Nyoman Wiratmaja menambahkan, pemerintah pusat sudah banyak memangkas dan menggabungkan sejumlah perizinan. Saat ini, perizinan sektor migas di Kementerian ESDM hanya tinggal enam jenis, yaitu dua izin di bagian hulu dan empat izin di bagian hilir.

”Tahun sebelumnya dibutuhkan 42 izin. Bahkan, di masa lalu bisa lebih dari 100 izin. Sekarang hanya enam izin, dan itu sudah maksimal atau tidak bisa diringkas lagi. Ini bagian dari usaha mempercepat dan menyederhanakan birokrasi,” kata Wiratmaja.

Nilai keekonomian Direktur Eksekutif Asosiasi Perminyakan Indonesia (IPA) Marjolijn Wajong mengatakan, konsep gross split sebaiknya tidak menurunkan nilai keekonomian sebuah lapangan migas apabila dibandingkan dengan konsep cost recovery. Apalagi, kata Marjolijn, iklim investasi migas tengah lesu dalam beberapa tahun terakhir. Investasi di sektor ini juga menurun seiring dengan anjloknya harga minyak.

”Kami tetap mendukung konsep ini. Hanya saja, jangan sampai nilai keekonomian proyek migas menjadi lebih rendah saat dibandingkan dengan konsep cost recovery,” ucap Marjolijn. Pemerintah telah menerbitkan Peraturan Menteri ESDM Nomor 8 Tahun 2017 tentang Kontrak Bagi Hasil Gross Split. Konsep ini berlaku bagi kontrak migas baru dan kontrak yang sudah diterminasi. Adapun untuk kontrak migas hasil perpanjangan, kontraktor mempunyai dua pilihan, apakah menggunakan gross split atau cost recovery. 

Kontrak migas cost recovery yang masih berlangsung akan tetap dihormati sampai habis masa kontraknya. Model gross split pertama kali diterapkan untuk Blok Offshore North West Java (ONWJ) yang dikelola penuh PT Pertamina Hulu Energi ONWJ pada Rabu (18/1). Dengan model kontrak tersebut, bagian negara ditetapkan sebesar 47,5 persen dan bagian kontraktor 52,5 persen untuk minyak.

Adapun untuk gas bumi, bagian negara 37,5 persen, sedangkan bagian kontraktor 62,5 persen. Kontrak Pertamina Hulu Energi pada Blok ONWJ tersebut berlaku selama 20 tahun atau hingga 17 Januari 2037

Kompas, Page-17, Saturday, Jan, 21, 2017