Revision of Gross Split Rules Starts Investor's Interest

Regulation revision on oil and gas contract scheme for gross split, ie Minister of Energy and Mineral Resources (ESDM) Decree No. 52 of 2017 began to get a positive response from investors. This is evidenced by the increasing number of enthusiasts auction of oil and gas blocks conducted by the government. However, in the long run, downstream domestic downstream industries are considered much more attractive.

"The last status for auction 10 conventional working areas, already 19 bid documents are accessed. The 10 blocks of oil and gas are entirely in demand by oil and gas companies, "said the Director General of Oil and Gas of the ESDM Ministry Ego Syahrial in a short message, in Jakarta last weekend.

According to Ego, after the issuance of Ministerial Decree 52/2017, Ego said, the number of enthusiasts of oil and gas block auction has been increased. He hopes, the company participants of this auction can survive and eventually signed a contract.

"We all want the upstream oil and gas industry to revive," he added.

As is known, the rate of return of capital (internal rate of return / IRR) of oil and gas blocks is predicted to rise about 6.55% according to Ministerial Regulation 52/2017. In the simulation that has been done, it appears that once the reference is changed to Ministerial Regulation 52/2017, IRR oil and gas blocks rose significantly. In some oil and gas blocks, the IRR increase is about 2-5%. However, there are also oil and gas blocks that in this simulation the IRR soared to 12%. However, this oil and gas IRR averaged 6.55% increase.

"We modified one of the progressive split components, namely the cumulative oil and gas production. Then, add a new component of progressive split, ie price. We are also improving split variables based on field characteristics "said EMR Deputy Minister of Energy and Mineral Resources Arcandra Tahar in the Launch of Ministerial Regulation 52/2017, not long ago.

He specifies, there are eight points of improvement in Ministerial Regulation 52/2017. In detail, on the cumulative factor of production there is an additional split up to 10%, from the split production phase can rise up to 10%, the existence of a plan of development (POD 2) adds a 3% split, from the split hyodgen sulfide (H2S) split may increase up to 5%, and the availability of infrastructure could boost the split by 4%.

Not only that, the additional split as an impact of oil and gas price movements is calculated based on the formula. This makes the oil and gas company get an additional 11.25% split on oil price of US $ 40 per barrel and 5% when its gas price is only US $ 5 per million british thermal unit (mmbtu).

"We also open the split limit that can be given from the minister's discretion so that oil and gas blocks can be developed economically," he said. This is to avoid any oil and gas blocks that the government wants to develop, but can not be economical after all incentives are given.

Regarding the presence of this Ministerial Regulation, the government extended the auction period of conventional and non-conventional oil and gas blocks until the end of November.

"The auction is extended to allow sufficient time [for companies] to learn the new Ministerial Regulation," Ego said.

"There is no difference in auction deadline for conventional and non-conventional oil and gas blocks, direct bidding schemes or regular. It has set a limit on access to tender documents extended until November 20, 2017. Meanwhile, for the entry of documents of participation, oil and gas companies are given flexibility until November 27.

Initially, the government set a deadline for access to the auction document of the unconventional oil and gas block on September 7 and the entry of documents of participation on 14 September. For conventional oil and gas blocks, initially the document access deadline is set July 10 for a direct offer and extended to September 11th. As for the regular auction of conventional oil and gas blocks, initially there is no extension of time, ie document access no later than 15 September.

The 15 oil and gas blocks that are auctioned consist of 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 gas 17 trillion cubic feet.

For conventional oil and gas blocks auctioned through direct offerings are the 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 off beaches and mainland Maluku, 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 non-conventional oil and gas blocks auctioned through direct offerings are 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.

Based on records, beginning after the auction opened, not many companies participated. After the announcement of the opening of the auction, up to July, there are only 12 tender documents accessible. Then, after being extended for the first time, the accessed document grew to 17.

IN INDONESIA

Revisi Aturan Gross Split Mulai Diminati Investor

Revisi peraturan soal kontrak migas skema bagi basil kotor (gross split), yakni Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) No 52 Tahun 2017 mulai mendapat respons positif dari investor. Hal ini terbukti dengan bertambahnya jumlah peminat Ielang blok migas yang dilakukan pemerintah. Namun dalam jangka panjang, industri hilir migas (down stream) di dalam negeri dinilai jauh Iebih menarik.

“Status terakhir untuk lelang 10 wilayah kerja konvensional, sudah 19 bid document yang diakses. Ke-10 blok migas tersebut seluruhnya diminati oleh perusahaan migas,” kata Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM Ego Syahrial dalam pesan singkatnya, di Jakarta akhir pekan lalu.

Menurut Ego, pasca diterbitkannya Peraturan Menteri 52/ 2017, Ego menuturkan, jumlah peminat blok migas yang dilelang ini telah bertambah. Dia berharap, perusahaan peserta lelang ini bisa bertahan dan akhirnya menandatangani kontrak. 

“Kita semua ingin agar industri hulu migas bangkit kembali,” tambahnya.

Seperti diketahui, tingkat pengembalian modal (internal rate of return/IRR) blok migas diprediksi bisa naik sekitar 6,55% mengacu Peraturan Menteri 52/ 2017 . Pada simulasi yang telah dilakukan, tampak bahwa begitu acuannya diubah menjadi Peraturan Menteri 52/2017, IRR blok migas naik signifikan. Di beberapa blok migas, kenaikan IRR sekitar 2-5%. Namun, ada juga blok migas yang dalam simulasi ini IRR-nya melejit hingga 12%. Namun, IRR blok migas ini rata-rata naik 6,55%.

“Kami memodifikasi salah satu komponen progressive split, yakni kumulatif produksi migas. Kemudian, menambah komponen baru progressive split, yaitu harga. Kami juga memperbaiki variabel split berdasarkan karakteristik lapangan" kata Wakil Menteri ESDM Arcandra Tahar dalam Peluncuran Peraturan Menteri 52/ 2017, belum lama ini.

Dia merinci, terdapat delapan poin perbaikan dalam Peraturan Menteri 52/2017. Rincinya, pada faktor kumulatif produksi terdapat tambahan split hingga 10%, dari fase produksi split bisa naik hingga 10%, adanya rencana pengembangan lanjutan (plan of development/ POD 2) menambah split 3%, dari kandungan hirodgen sulfida (H2S) split bisa meningkat sampai 5%, dan faktor ketersediaan infrastruktur bisa mendongkrak split hingga 4%.

Tidak hanya itu, tambahan split sebagai dampak pergerakan harga minyak dan gas dihitung berdasarkan formula. Hal ini membuat perusahaan migas berkesempatan mendapat tambahan split 11,25% pada harga minyak US$ 40 per barel dan 5% ketika harga gas miliknya hanya US$ 5 per juta british thermal unit (mmbtu).

“Kami juga membuka batasan split yang bisa diberikan dari diskresi menteri sehingga blok migas bisa dikembangkan secara ekonomis,” tuturnya. Hal ini untuk menghindari adanya blok migas yang pemerintah ingin kembangkan, namun tidak bisa ekonomis setelah semua insentif diberikan.

Terkait hadirnya Peraturan Menteri ini, pemerintah pun memperpanjang jangka waktu lelang blok migas konvensional dan non-konvensional sampai dengan akhir November.

“Lelang diperpanjang untuk memberikan waktu yang cukup [bagi perusahaan] untuk mempelajari Peraturan Menteri yang baru,” kata Ego.

"Tidak ada perbedaan batas waktu lelang bagi blok migas konvensional dan non-konvensional, skema penawaran langsung maupun reguler. Pihaknya menetapkan batas akses dokumen lelang diperpanjang sampai dengan 20 November 2017. Sementara, untuk pemasukan dokumen partisipasi, perusahaan migas diberi keleluasaan waktu sampai dengan 27 November.

Awalnya, pemerintah menetapkan batas waktu akses dokumen lelang blok migas non-konvensional pada 7 September dan pemasukan dokumen partisipasi pada 14 September. Untuk blok migas konvensional, awalnya batas waktu akses dokumen ditetapkan 10 Juli untuk penawaran langsung dan diperpanjang menjadi 11 September. Sementara untuk lelang reguler blok migas konvensional, awalnya tidak ada perpanjangan waktu, yakni akses dokumen paling lambat 15 September.

Ke-15 blok migas yang dilelang ini terdiri dari 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 non-konvensional 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 di lepas 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 non-konvensional dilelang melalui penawaran langsung 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.

Berdasarkan catatan, awal setelah lelang dibuka, tidak banyak perusahaan yang ikut berpartisipasi. Setelah diumumkan pembukaan lelang, sampai Juli, tercatat baru ada 12 dokumen lelang yang diakses. Kemudian, setelah diperpanjang untuk pertama kalinya, dokumen yang diakses bertambah menjadi 17 buah.

Investor Daily, Page-11, Monday, Sept 18, 2017

Momentum of Upstream Sector Regulatory Improvement

In October 2015, the government issued a package of economic policies volume III with a focus on improving the competitiveness of industrial gas users through efforts to reduce gas prices. 

    The package of economic policy continued until the 16th with the focus of the acceleration of the business process. The investment that is expected to be a sign of economic growth can not be quickly perceived its effect due to delayed licensing process and regulatory constraints that make investment commitments can not be realized. 

    In fact, several state visits conducted by President Joko Widodo to Minister of Energy and Mineral Resources Ignatius Jonan who visited China, Japan, India and the United States.

In the package of policies, the government targets a special taskforce that monitors the acceleration of execution to start working since the Presidential Regulation is issued. The ESDM Ministry is included in the main task force responsible for supervising, monitoring, resolving barriers to business licensing and improving the services of all licenses in its sector.

In addition to the accelerated implementation of licensing, the completion of regulatory reforms and their harmonization is targeted to be completed by the end of November 2017. In the upstream oil and gas sector, the Indonesian Petroleum Association (IPA) often underlines the often-changing regulatory issues and the long-term licensing process.

In the material of Bimasena Energy Dialogue in June 2017, unattractive investment in Indonesia was caused by legal uncertainty, weak cross-sector coordination as well as between central and local government, licensing also unattractive fiscal provisions offered.

From the meeting, it was proposed that the government ensure the application of more attractive fiscal provisions and support the addition of production and the increase of oil and gas exploration activities. In addition, the need for internationally proven data support in policy making, improving cross-sectoral coordination to reduce regulatory disputes and engage stakeholders in policy-making processes.

In other proposal materials, upstream oil and gas business also complained two main things that become obstacles. First, the regulatory changes at the time of the road without a consultation process with the business actors touched on the issue of respect for the contract (sanctity of contract). Second, the implementation of gross split contracts that become drastic policy changes.

Thus, when other countries such as Vietnam, Malaysia, Singapore and Papua New Guinea remain attractive for investment, it does not happen for Indonesia. Business actors suggested that the government establish a reference from neighboring countries and involve business actors in the process of setting new policies.

Oil and Gas Law

About the recommended regulations to be revised, Energy Observer from Reforminer Institute Komaidi Notonegoro said that the Oil and Gas Law is the main regulation that should be a concern to improve the upstream oil and gas investment climate. 

    The reason is that the Oil and Gas Law will become the main beleid which will become the backbone of oil and gas sector business activities as it will become a reference for other regulations under it such as Government Regulation and Ministerial Regulation.

Since several articles in Law no. 22/2001 on Oil and Natural Gas was canceled by the Constitutional Court and the issuance of Law no. 79/2010 on Income Taxes and Refundable Operating Costs has been issued, these two things have never escaped the list of business actors' suggestions.

    After 7 years, Law no. 79/2010 was finally revised through Regulation no. 27/2017, but it turns out that conditions have not been able to bring significant changes to the investment climate.

The government through several ministries did make remedial efforts that seemed insufficient because the proposed implementation of assume and discharge or exemption from the imposition of additional taxes could not be realized.

As an illustration, in the first half of 2017, upstream oil and gas investment of 29 percent or US $ 3.98 billion from the target of US $ 13.8 billion. When compared with the realization of 2016, oil and gas investment achievement this year is greater percentage, but smaller its actual achievement by the difference of US $ 1.67 billion.

In the first half of 2016, the investment reached US $ 5.65 billion, down 27% from the same period last year of US $ 7.74 billion. In 2016, there has not even been a new oil and gas cooperation contract signed. In fact, the government offers 15 areas of conventional and non-conventional oil and gas work.

"The main thing is the Oil and Gas Law 22/2001."

Meanwhile, the factor of business process was recognized increasingly complex because of Law no. 23/2014 on the Regional Government which implements the principle of autonomy. According to him, the issue of permits that are completed at the central level has not been a guarantee of completion to the level of local government.

SKK Migas notes, in some areas, the time to produce a well or field or lead time can be so long. As in East Java for offshore areas takes over 15 years. Riau takes 15 years, off the coast of East Kalimantan 10 years, while in the mainland of Maluku and Kalimantan takes about 7 years, The reason, each region has a different administration that makes the process longer.

IPA Executive Director Marjolijn Wajong said it would hold a meeting with the government following up on the 16th Economic Policy Package. He hoped that this opportunity could be a moment of improvement in the investment climate of upstream oil and gas sector.

It is hoped that the government can remain consistent to raise national competitiveness so that it can become an investment destination. And WoodMackenzie's study conducted in October 2016, Indonesia is ranked 137th out of 148 in terms of fiscal attractiveness globally.

The government needs to resolve the regulatory and licensing issues to resolve the problem so that the rising investment outcomes can be seen immediately. The passion of oil and gas block auctions marked by the number of new contracts signed as well as increased production and exploration activities are expected to be achieved.

IN INDONESIA

Momentum Perbaikan Regulasi Sektor Hulu

Pada Oktober 2015, pemerintah mengeluarkan paket kebijakan ekonomi jilid III dengan fokus meningkatkan daya saing industri pengguna gas melalui upaya penurunan harga gas. Paket kebijakan ekonomi pun berlanjut hingga ke-16 dengan fokus percepatan proses berusaha. 

    Investasi yang diharapkan menjadi pertanda pertumbuhan ekonomi ternyata tidak bisa cepat dirasakan efeknya karena terhambat proses perizinan dan kendala regulasi yang membuat komitmen investasi tidak bisa direalisasikan. Padahal, beberapa kunjungan kenegaraan dilakukan Presiden Joko Widodo hingga Menteri ESDM Ignasius Jonan yang mengunjungi China, Jepang, India juga Amerika Serikat.

Dalam paket kebijakan tersebut, pemerintah menargetkan agar satuan tugas (satgas) khusus yang memonitor percepatan pelaksanaan berusaha mulai bekerja sejak peraturan Presiden diterbitkan. 

    Kementerian ESDM masuk dalam satgas utama yang bertanggung jawab melakukan pengawalan, pemantauan, penyelesaian hambatan atas perizinan berusaha serta peningkatan pelayanan seluruh perizinan di sektornya. 

Selain percepatan pelaksanaan perizinan, penyelesaian reformasi peraturan beserta harmonisasinya ditargetkan selesai pada akhir November 2017. Di sektor hulu migas, Indonesian Petroleum Association (IPA) sering kali menggaris bawahi masalah regulasi yang sering berubah dan perizinan yang begitu panjang prosesnya.

Dalam materi Bimasena Energy Dialogue pada Juni 2017, tidak menariknya investasi di Indonesia disebabkan masalah ketidakpastian hukum, koordinasi lintas sektor yang masih lemah begitu pula antara pemerintah pusat dan pemerintah daerah, perizinan juga tidak menariknya ketentuan fiskal yang ditawarkan.

Dari pertemuan itu, diusulkan agar pemenntah menjamin penerapan ketentuan fiskal yang lebih menarik dan mendukung penambahan produksi serta peningkatan kegiatan eksplorasi migas. Selain itu, perlunya dukungan data yang telah terbukti secara internasional dalam membuat kebijakan, meningkatkan koordinasi lintas sektor untuk menekan pertentangan regulasi dan melibatkan pihak terkait dalam proses pembuatan kebijakan.

Dalam materi usulan lainnya, usaha hulu migas pun mengeluhkan dua hal utama yang menjadi kendala. Pertama, perubahan regulasi di saat jalan tanpa proses konsultasi dengan pelaku usaha sehingga menyinggung isu tentang menghormati kontrak (sanctity of contract). Kedua, penerapan kontrak bagi hasil kotor (gross split) yang menjadi perubahan kebijakan yang drastis.

Dengan demikian, ketika negara lain seperti Vietnam, Malaysia, Singapura, dan Papua Nugini tetap menarik untuk investasi, hal itu tidak terjadi bagi Indonesia. Pelaku usaha menyarankan agar pemerintah menetapkan acuan dari negara tetangga dan melibatkan pelaku usaha dalam proses penetapan kebijakan baru.

Undang-Undang MIGAS 

Tentang regulasi yang disarankan untuk direvisi, Pengamat Energi dari Reforminer Institute Komaidi Notonegoro mengatakan bahwa Undang-Undang Migas menjadi regulasi utama yang harus menjadi perhatian untuk bisa memperbaiki iklim investasi hulu migas. 

     Alasannya, Undang-Undang Migas akan menjadi beleid utama yang akan menjadi tulang punggung kegiatan usaha sektor migas karena akan menjadi referensi pembuatan regulasi lain di bawahnya seperti Peraturan Pemerintah dan peraturan menteri.

Sejak beberapa pasal dalam Undang-Undang No. 22/2001 tentang Minyak dan Gas Bumi dibatalkan Mahkamah Konstitusi dan terbitnya Undang-Undang No. 79/2010 tentang Pengenaan Pajak Penghasilan Dan Biaya Operasi Yang Dapat Dikembalikan sudah diterbitkan, dua hal ini tidak pernah luput dari daftar saran pelaku usaha. 

    Setelah 7 tahun, Undang-Undang No. 79/2010 akhirnya direvisi  melalui Peraturan No. 27/2017, tetapi ternyata kondisi itu belum bisa membawa perubahan signifikan terhadap iklim investasi.

Pemerintah melalui beberapa kementeriannya memang melakukan upaya perbaikan yang sepertinya belum cukup karena usulan penerapan assume and discharge atau pembebasan dari pengenaan pajak tambahan tidak bisa direalisasikan.

Sebagai gambaran, pada pertengahan tahun pertama 2017, investasi hulu migas 29% atau US$ 3,98 miliar dari target US$ 13,8 miliar. Jika dibandingkan dengan realisasi 2016, capaian investasi migas pada tahun ini lebih besar persentasenya, tetapi lebih kecil capaian aktualnya dengan selisih US$ 1,67 miliar. 

Pada paruh pertama 2016, investasi yang tercapai yakni US$ 5,65 miliar atau turun 27% dari realisasi periode yang sama tahun lalu US$ 7,74 miliar. Pada 2016, bahkan belum ada kontrak kerja sama pengelolaan blok migas baru yang diteken. Padahal, pemerintah menawarkan 15 wilayah kerja migas konvensional dan non-konvensional. 

“Yang paling utama memang Undang-Undang Migas 22/2001.”

Sementara itu, faktor proses berbisnis pun diakui semakin kompleks karena Undang-Undang No. 23/2014 tentang Pemerintah Daerah yang memberlakukan prinsip otonomi. Menurutnya, permasalahan izin yang selesai di tingkat pusat belum menjadi jaminan penyelesaian hingga tingkat pemerintah daerah.

SKK Migas mencatat, di beberapa daerah, waktu untuk memproduksikan sumur atau lapangan atau lead time bisa begitu panjang. Seperti di Jawa Timur untuk wilayah lepas pantai membutuhkan waktu di atas 15 tahun. Riau membutuhkan 15 tahun, di lepas pantai Kalimantan Timur 10 tahun, sedangkan di daratan Maluku dan Kalimantan butuh sekitar 7 tahun, Alasannya, masing-masing daerah memiliki administrasi yang berbeda sehingga membuat proses semakin panjang.

Direktur Eksekutif IPA Marjolijn Wajong mengatakan bahwa pihaknya akan melakukan pertemuan dengan pemerintah menindaklanjuti Paket Kebijakan Ekonomi ke-16. Dia berharap agar kesempatan ini bisa menjadi momen perbaikan iklim investasi sektor hulu migas.

Besar harapan bahwa pemerintah bisa tetap konsisten untuk menaikkan daya saing nasional sehingga bisa menjadi tujuan penanaman modal. Dan studi WoodMackenzie yang dilakukan pada Oktober 2016, Indonesia berada di urutan 137 dari 148 dalam hal daya tarik fiskal secara global. 

Pemerintah perlu menyelesaikan masalah regulasi dan perizinan untuk bisa menyelesaikan masalah sehingga naiknya capaian investasi bisa segera terlihat. Bergairahnya lelang blok migas yang ditandai dengan banyaknya kontrak baru yang diteken juga naiknya kegiatan produksi dan eksplorasi diharapkan bisa tercapai.

Bisnis Indonesia, Page-28, Monday, Sept 18, 2017

Oil and Gas Block Auction Is Restarted

The government again extended the deadline for retrieving the auction documents of oil and gas blocks until November 20, 2017 due to adjustments to the Fiscal provisions in the gross split share contract. The offer of oil and gas blocks includes regular and direct auctions. Previously, the government has extended the bidding deadline for auction documents until July 2017.

The government imposed a gross profit-sharing contract since the beginning of this year. Then, the government revised the beleid gross split by purchasing the revenue sharing space to the contractor of the cooperation contract (KKKS). In addition, additional results were obtained in the early phases of development when the contractor has not been able to enjoy production. Then, the additional space for the contractor's share of the minister's discretion is no longer limited to 5%.

Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) Ego Syahrial said that it is now extending the limit on the collection of conventional and non-conventional oil and gas block auction documents until November 20, 2017. Meanwhile, the document return limit is extended to 27 November 2017 .

The government revised the document access limit to 9 August and extended again to September 11, 2017. Regulation of the Minister of Energy and Mineral Resources No. 8/2017 on the Gross Split Revenue Contracts issued on January 13, 2017 was revised into Regulation of the Minister of Energy and Mineral Resources No. 52/2017 effective from July 2017.

Considering the revision of the gross split, the government gives the contractor time to calculate the economy development of oil and gas blocks through new fiscal provisions.

"Must be given sufficient time to deepen the Minister of Energy and Mineral Resources Regulation no. 52/2017 new, "he said.

This year, the government offers 15 working areas and 10 conventional oil and gas blocks and five non-conventional oil and gas blocks. Non-conventional oil and gas blocks of gas and shale oil 81 gas)

Meanwhile, seven conventional oil and gas blocks are auctioned through direct offerings, namely the Andaman L Block (offshore Aceh), Andaman II (offshore Aceh), South Tuna (offshore Natuna), Merak Lampung (offshore and Banten-Lampung mainland) Pekawai (offshore East Kalimantan), West Yamdena (offshore and mainland Maluku), and Kasuri III (mainland West Papua).

Three conventional oil and gas blocks are offered through regular auctions, namely Tongkol (offshore Natuna), East Tanimbar (offshore Maluku), and Mamberamo (mainland and offshore Papua).

Three non-conventional oil and gas blocks are offered through direct offer, MNK Jambi l, Jambi shale hydrocarbon, MNK Jambi II, onshore Jambi & South Sumatra (shale hydrocarbon), GMB West Air Komering, onshore South Sumatra (coal bed methane / CBM).

Subsequently, non-conventional oil and gas blocks offered through regular auctions include GMB Raja, onshore South Sumatra (CBM) and CMB Bungamas, onshore South Sumatra (CBM).

TENDER DOCUMENTS

Ego explains, currently there are 19 documents that are accessed from 10 conventional oil and gas blocks offered. However, he did not mention in detail the 19 documents referring to any block.

Since the time of the auction documents was opened end of May 2017, recorded from the data of the Ministry of Energy and Mineral Resources, five documents in the Andaman Block II and two documents in the East Tanimbar Block. The remainder, each one document and the Mamberamo Block, Tongkol, West Yamdena, Pekawai, and Andaman I.

The oil and gas block auction is important as the number of oil and gas blocks operating continues to decline. Based on data from the Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) in the first half of 2017, there are currently 277 oil and gas blocks. When compared, this number is less than in 2012 as many as 308 oil and gas blocks in operation. On the other hand, during 2017-2025 there are about 30 blocks that will expire the contract.

"The latest status for the auction of 10 blocks of conventional oil and gas, has 19 bid [offer] documents are accessed," he said.

Previously, President of the Indonesian Petroleum Association (IPA) Christina Verchere hoped that the changes made by the government in the contract for the gross split share can bring fresh air to the investment in upstream oil and gas sector. Nevertheless, the government's work has not ended because the final share obtained by the contractor does not include tax. The reason, beleid governing the gross split taxation has not been completed discussed.

IN INDONESIA

Lelang Blok Migas Kembali Diperpanjang

Pemerintah kembai memperpanjang batas waktu pengambilan dokumen lelang blok minyak dan gas bumi hingga 20 November 2017 karena ada penyesuaian ketentuan Fiskal dalam kontrak bagi hasil kotor atau gross split. Penawaran blok migas itu meliputi lelang reguler dan langsung. Sebelumnya, pemerintah telah memperpanjang batas pengambilan dokumen lelang hingga Juli 2017.

Pemerintah memberlakukan kontrak bagi hasil kotor sejak awal tahun ini. Kemudian, pemerintah merevisi beleid gross split dengan membelikan ruang penambahan bagi hasil kepada kontraktor kontrak kerja sama (KKKS). Selain itu, tambahan bagai hasil pun didapatkan di fase-fase awal pengembangan ketika kontraktor belum bisa menikmati hasil produksi. Kemudian, ruang tambahan bagi hasil kontraktor dari diskresi menteri pun tidak lagi dibatasi sebesar 5%.

Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) Ego Syahrial mengatakan bahwa pihaknya kini kembali memperpanjang batas pengambilan dokumen lelang blok migas konvensional dan non-konvensional hingga 20 November 2017. Sementara itu, batas pengembalian dokumen diperpanjang hingga 27 November 2017.

Pemerintah merevisi batas akses dokumen menjadi 9 Agustus dan diperpanjang lagi menjadi 11 September 2017. Peraturan Menteri ESDM No. 8/2017 tentang Kontrak Bagi Hasil Gross Split yang terbit pada 13 Januari 2017 direvisi menjadi Peraturan Menteri ESDM No. 52/2017 yang berlaku mulai Juli 2017.

Atas pertimbangan revisi gross split, pemerintah memberikan waktu kepada kontraktor untuk menghitung keekonomian pengembangan blok migas melalui ketentuan fiskal yang baru.

“Harus diberi waktu yang cukup untuk mendalami Peraturan Menteri ESDM No. 52/2017 yang baru," ujarnya.

Pada tahun ini, pemerintah menawarkan 15 Wilayah kerja yang terdin dan 10 blok migas konvensional dan lima blok migas non-konvensional. Blok migas non-konvensional berupa gas dan minyak serpih (shale oil 81 gas)

Sementara itu, tujuh blok migas konvensional dilelang melalui penawaran langsung, yakni Blok Andaman l (lepas pantai Aceh), Andaman II (lepas pantai Aceh), South Tuna (lepas pantai Natuna), Merak Lampung (lepas pantai dan daratan Banten-Lampung), Pekawai (lepas pantai Kalimantan Timur), West Yamdena (lepas pantai dan daratan Maluku), dan Kasuri III ( daratan Papua Barat).

Tiga blok migas konvensional ditawarkan melalui lelang reguler, yaitu Tongkol (lepas pantai Natuna), East Tanimbar (lepas pantai Maluku), dan Mamberamo (daratan dan lepas pantai Papua).

Tiga blok migas non-konvensional ditawarkan melalui penawaran langsung, yaitu MNK Jambi l, onshore Jambi (shale hydrocarbon), MNK Jambi II, onshore Jambi & Sumatra Selatan (shale hydrocarbon), GMB West Air Komering, onshore Sumatra Selatan (coal bed methane/CBM).

Kemudian, blok migas non-konvensional yang ditawarkan melalui lelang reguler antara lain GMB Raja, onshore Sumatra Selatan (CBM) dan CMB Bungamas, onshore Sumatra Selatan (CBM).

DOKUMEN LELANG

Ego menjelaskan, saat ini terdapat 19 dokumen yang diakses dari 10 blok migas konvensional yang ditawarkan tersebut. Namun, dia tidak menyebut secara detail 19 dokumen itu merujuk pada blok mana saja.

Sejak masa pengambilan dokumen lelang dibuka akhir Mei 2017, tercatat dari data Kementerian ESDM, lima dokumen di Blok Andaman II dan dua dokumen di Blok East Tanimbar. Sisanya, masing-masing satu dokumen dan Blok Mamberamo, Tongkol, West Yamdena, Pekawai, dan Andaman I.

Lelang blok migas menjadi penting karena jumlah blok migas  yang beroperasi terus menurun. Dari data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) semester I/2017, saat ini ada 277 blok migas. Bila dibandingkan, jumlah ini lebih sedikit dari 2012 sebanyak 308 blok migas yang beroperasi. Di sisi lain, selama 2017-2025 terdapat sekitar 30 blok yang akan habis masa kontraknya.

"Status terakhir untuk lelang 10 blok migas konvensional, sudah 19 bid [penawaran] dokumen yang diakses," katanya. 

Sebelumnya, Presiden Indonesian Petroleum Association (IPA) Christina Verchere berharap agar perubahan yang dilakukan pemerintah dalam kontrak bagi hasil gross split dapat membawa angin segar terhadap investasi di sektor hulu migas. Kendati demikian, kerja pemerintah belum usai karena bagi hasil akhir yang didapatkan kontraktor belum termasuk pajak. Pasalnya, beleid yang mengatur perpajakan gross split belum rampung dibahas. 

Bisnis Indonesia, Page-28, Monday, Sept 18, 2017

Bangladesh seeks to import LNG from RI

     State-owned oil and gas giant Pertamina may soon supply its Bangladesh counterpart, Petrobangla, with liquefied natural gas (LNG) to support the South Asian country’s power sector. Bangladesh plans to tap the currently low-priced and plentiful global LNG supplies to double its national power capacity to 24,000 megawatts (MW) by 2021 and eventually 40,000 MW in 2031, which will also help boost the country’s industrial sector.

Indonesia is among the countries it is eyeing to import LNG from, with a memorandum of understanding (MOU) signed on Friday between Pertamina and Petrobangla, in addition to one signed by the Indonesian Energy and Mineral Resources Ministry and the Bangladesh Power, Energy and Mineral Resources Ministry.

Petrobangla chairman Abul Md. Faizullah said the country’s gas supplies were experiencing a deficit, and that Bangladesh would start importing LNG next April. Bangladesh is expected to have a gas deficit of 1 million tons starting next year, which may grow to 11 million tons by 2030. Although the MOU did not describe a specific LNG volume, Petrobangla was expecting a significant amount from its Indonesian brethren.

“We have just given some sort of idea when we met with Pertamina at our Ofiice. We say that it might' be more than 1 million tons per year [mtpa],” he said at a press conference, adding that if negotiations went smoothly, Petrobangla had high hopes that it would start importing Pertamina’s LNG starting nextyear.

Bangladesh’s first floating storage and regasification unit (FSRU) will be commissioned by April 2018. It’s second will start operating' next October. Each unit will have a capacity of 500 million standard cubic feet of gas per day (mmscfd). Pertamina is not the first company Bangladesh has eyed for LNG imports. Petrobangla is expected to sign a deal with Qatar’s RasGas on Sept. 25, for a 15-year contract starting next April to import 1.5 mtpa for the first five years and 2.5 mtpa for the next decade after that.

The LNG Bangladesh seeks to import is intended for the power sector, which powers 71 percent of electricity in the country, with a demand of 700 mmscfd. The Bangladesh government' hopes the growth of the country’s power sector can also help it develop its industrial sector and reach its target to export US$ 50 billion worth Of ready made garments by 2021.

Indonesia continues to have an annual surplus of LNG that remains unabsorbed by both the domestic and foreign market. Data from the Energy and Mineral Resources Ministry shows the country had an excess of 66.6 cargoes, made up of 43 cargoes intended for export and 23.6 cargoes for the domestic market last year. This figure increased from 22 cargoes in 2014. Under the signed MOU, Pertamina also seeks opportunities to develop natural gas and LNG infrastructure, including FSRU, transmission pipes and a possible integrated-gas power plant in Bangladesh.

Pertamina gas and renewable energy director Yenni Andayani said this was part of the firm’s plan to expand its infrastructure business to South Asian countries such as Bangladesh, India and Pakistan. Furthermore, Pertamina has formed a consortium made up of undisclosed international and Bangladesh partners to follow up On the MOU.

“The consortium is preparing an unsolicited proposal for an electricity solution in the form of an integrated project starting from LNG supply until power supply to the Bangladesh government,” she said.

Jakarta Post, Page-13, Saturday, Sept 16, 2017

This industry must be competitive and efficient

In the waning climate of upstream oil and gas investment, the gross split regulation is one of several policies of the Ministry of Energy and the polemic reaping mineral resources. because, the rule of contract for the upstream oil and gas investment with the scheme of production gross distribution is no longer apply the operating cost recovery mechanism.

Unlike the cost recovery regime, the Regulation of the Minister of Energy and Mineral Resources No. 08 of 2017 imposes all exploration risk to contractors of oil and gas cooperation contracts.

Not until eight months, the Ministry of Energy issued its revised regulation through Rule Number 52 of 2017. "The president is directing not to give too little, so we revised for a fair split," said Minister of Energy and Mineral Resources Ignatius Jonan while receiving Tempo reporter Arif Zulkifli , Ayu Primasandi, Khairul Anam, Raymundus Rikang, and photographer Dhemas Reviyanto, last Thursday evening.

Why is this policy of gross split pulling away so strongly, as seen from the rejection?

Not really. Actually not refused. The direction of the President and Vice President, the government must be pro-investment. Well, if the procurement process follows the cost recovery model, it's long. Can be six months, can be nine months, can be a year. Why the procurement process investment a year?

Sometimes half a year is not finished and so on. This we encourage that the procurement process is done by investors themselves. But split it at the beginning. We divide, your fee (contractor) who bear. We then issued the first regulation, Minister of Energy and Mineral Resources Regulation No. 08 of 2017. Investors protest because the split is too small: "The government is not fair." Our name is we trade. 

If trading, yes, we count first, dong. Finally we review again. The President directs do not give too small. We give fair. Mr. Vice Minister of EMR (Arcandra Tahar) who leads all calculations, We call again Indonesia Petroleum Association (IPA). All had negotiated, finally agreed. Split it as a whole, neither in net nor will be smaller than current.

Reasons for revision due to investor complaints?

Yes. But keep gross split with a better split. It means no harm or roughly equal to what they get now. The important members of the IPA and contractor cooperation contract (KKKS) oil and gas alone. If suppliers under KKKS, Jeez, we are too far to think about that.

If we see, this gross split scheme applies to when? Forward. Not the current contract. Which now, we will not bother. When it is up, appoint a new contractor, using a gross split. If the extension has been exhausted, may not use gross split? May choose, gross split or cost recovery. Later to negotiate.

To what extent is the investor involved and heard his input during rule-making?

We involve all. We listen to all.

All this means KKKS and IPA?

Yes. All we invite. Because of which

it is important that the business actor. We listen to as many entries as possible. Then we offer that number. Bargaining is okay, you know. Perhaps investors want.

So do offer the little ones you used to accept, right?

Well, this trust is given by the state to the Ministry of Energy and Mineral Resources to be undertaken. Yes, lived as well as possible, dong. For example, you sell mobile phones, the price is Rp 5 million, yes I bargained Rp 3 million. Probably would. Apparently can not, yes already, Rp 3.5 million. Kan, that's it. If "the price is Rp 5 million, so I paid" will arise in question.

In addition to prolonged procurement issues, the over cost claims of cost recovery that have always been the findings of the Supreme Audit Agency and contractors whose lives from cost recovery are the reasons gross splits are made?

Yes, that's what I want to avoid. Everything you say is a signal reported by the Head of SKK Migas (Amien Sunaryadi) to me. Yes, we have gross split, so there are no more problems.

BPK had time to express an opinion as well?

No. But Audit Board of the Republic of Indonesia supports gross split. Because these findings create dizziness every year. Dizzy examiner, we are dizzy. Gross split it's tax schemes and royalty. So the business risk is borne by the contractor himself. If you can save big, yes, big profits. If you can not save big, yes, fortunately small. That is all.

What about contractors who are not ready with the gross split and are still protesting?

Yes, it must be ready. Times have changed, why all the people who bear the consequences? Cost recovery is the people who bear, consequently you know.

What about the threat of not investing again in the country?

Well, yes it's okay. Many investors are willing.

The investor's interest is reflected in the auction of oil and gas working area, sir?

Oh yes. Many will. Look, if the auction of WK (working area) of new oil and gas exploration alias is different. This exploration is a big risk. Because if he can not afford anything, cost is lost, the investor who bears all. Well, this depends on the price of oil. If now the price of oil around US $ 50 per barrel, investment interest must be very low. Try if US $ 100 per barrel, want to use any system must be lived.

Initially we suspect the auction of the work area will retreat one of them because of the gross split policy?

No. This is waiting for the rules of taxation as well. Well, in your regulatory affairs run fast, while other institutions do not. For example the tax policy for gross split is not immediately published.

How to coordinate and communicate with other ministries?

We communicate well. I chatted with Mrs. Finance. There is also Deputy Minister of Finance Mardiasmo. He is Vice Chairman of Supervisory Committee of SKK Migas. I have told the Director General of Taxes as well. They process as well.

The gross split scheme to encourage investment is one thing. Another thing, the Ministry of Energy and Mineral Resources also likes to issue rules that cause uncertainty for investors because of its short life. How is your explanation?

These revisions are not really changing the old rules. But because it was not organized so we think it needs to be regulated to encourage justice and encourage investment acceleration. This is the President's directive. If it is not suitable and a lot of input which is true, the President says we have to adjust. Yes ready. It's okay, we have no problem.

Actually how the process, because it quickly issued a regulation, then suddenly revised again?

We involve all, there is always forum discussion group. One example is the change in the company's obligation rules to get approval from the Minister of Energy and Mineral Resources, his age is even only 20 days.

How is your explanation?

Oh, that's my revision. When created, we also see the market. How to react. Because what we do not allow is that if the private sector is trading with the government, with the state, at the same time the private sector is in conflict with the state. We want a test, the noisy one. Finally I revised.

The point is this outgoing regulation is sometimes just a market test?

Yes. You see, this industry can still be much more efficient. That's it. If you do not want to follow the efficiency in accordance with the development of the Age, this industry I think more and more small.

Including policies limiting the distribution and distribution margin of natural gas?

I do not limit margins. I encourage this industry to be efficient. Now like this, can anyone determine the price of coal? There is no. Can anyone determine the selling price of copper or tin or bauxite or gold or crude oil? There is no.

 Business people like this, if you can not determine the price because it is a global price or competitive price, what should I manage? The costs are getting more efficient. 

So the concept of gross split is to be efficient. If All wants the country, yes, all do not want to be efficient. This industry must be competitive, it must be efficient. President's direction, we as a nation must be competitive in order to compete in the global market.

IN INDONESIA

Industri ini harus kompetitif dan efisien

Di saat lesunya iklim investasi hulu minyak dan gas bumi, peraturan gross split menjadi satu dari sekian kebijakan Kementerian Energi dan Sumber Daya Mineral yang menuai polemik. Gara-garanya, aturan kontrak bagi hasil investasi hulu migas dengan skema pembagian gross produksi ini tidak lagi menerapkan mekanisme pengembalian biaya operasi. 

Berbeda dengan rezim cost recovery, Peraturan Menteri Energi dan Sumber Daya Mineral Nomor 08 Tahun 2017 ini membebankan seluruh risiko eksplorasi kepada kontraktor kontrak kerja sama migas.

Tidak sampai delapan bulan, Kementerian Energi mengeluarkan aturan revisinya lewat Peraturan Nomor 52 Tahun 2017. ”Presiden mengarahkan jangan memberi yang terlalu kecil, jadi kami revisi untuk split yang fair,” kata Menteri Energi dan Sumber Daya Mineral Ignasius Jonan saat menerima wartawan Tempo Arif Zulkifli, Ayu Primasandi, Khairul Anam, Raymundus Rikang, dan fotografer Dhemas Reviyanto, Kamis petang pekan lalu.

Mengapa kebijakan gross split ini tarik-ulurnya sangat terasa, terlihat dari masih adanya penolakan?

Tidak juga. Sebenarnya tidak menolak. Arahan Presiden dan Wakil Presiden, pemerintah harus pro-investasi. Nah, kalau proses pengadaan mengikuti model cost recovery, itu lama. Bisa enam bulan, bisa sembilan bulan, bisa setahun. Mengapa investasi proses pengadaannya setahun?

Kadang sampai setahun setengah tidak selesai dan sebagainya. Ini kami dorong agar proses pengadaannya dilakukan investor sendiri. Tapi split-nya di awal. Kami bagi, ongkosnya anda (kontraktor) yang menanggung. Kami lalu menerbitkan peraturan yang pertama, Peraturan Menteri ESDM Nomor 08 Tahun 2017 itu. 

Investor memprotes karena split terlalu kecil: ”Pemerintah tidak fair ini.” Namanya saja kami berdagang. Kalau berdagang, ya, kita hitung-hitungan dulu, dong. Akhirnya kami review lagi. Presiden mengarahkan jangan memberi yang terlalu kecil. Kami beri yang fair. Pak Wakil Menteri ESDM (Arcandra Tahar) yang memimpin semua perhitungan, Kami panggil lagi Indonesia Petroleum Association (IPA). Semua sudah berunding, akhirnya sepakat. Split-nya secara keseluruhan, secara netto pun tidak akan lebih kecil dari yang sekarang.

Alasan revisi karena ada keluhan investor?

Iya. Tapi tetap gross split dengan split yang lebih baik. Maksudnya tidak merugikan atau kurang-lebih sama dengan yang mereka dapatkan sekarang. Yang penting anggota IPA dan kontraktor kontrak kerja sama (KKKS) migas saja. Kalau supplier di bawah KKKS, Astaga, terlalu jauh kami memikirkan soal itu. 

Kalau kami lihat, skema gross split ini berlaku untuk kapan? Ke depan. Bukan kontrak yang sekarang. Yang sekarang, kami tidak akan mengganggu. Kalau sudah habis, tunjuk kontraktor baru, menggunakan gross split. Kalau sudah habis perpanjangan, bolehkah tidak memakai gross split? Boleh memilih, gross split atau cost recovery. Nanti berunding. 

Sejauh mana investor dilibatkan dan didengar masukannya saat pembuatan aturan?

Kami melibatkan semua. Kami mendengarkan semua. 

Semua ini maksudnya KKKS dan IPA? 

Iya. Semua kami undang. Karena yang penting itu pelaku usaha. Kami dengarkan sebanyak mungkin masukan. Lalu kami menawarkan angka sekian. Berunding boleh saja, lho. Barangkali investor mau. 

Jadi memang menawarkan yang kecil dulu barangkali mau menerima, ya?

Begini, amanah ini diberikan negara kepada Kementerian ESDM untuk dijalani. Ya, dijalani sebaik-baiknya, dong. Misalnya, Anda menjual handphone, harganya Rp 5 juta, ya saya tawar Rp 3 juta. Barangkali mau. Ternyata tidak bisa, ya sudah, Rp 3,5 juta. Kan, begitu. Kalau ”harganya Rp 5 juta, ya sudah saya bayar” nanti malah timbul pertanyaan.

Selain soal pengadaan yang terlalu lama, soal kelebihan klaim cost recovery yang selalu menjadi temuan Badan Pemeriksa Keuangan dan kontraktor yang hidupnya dari cost recovery menjadi alasan gross split dibuat?

Ya, itu yang hendak saya hindari. Semua yang Anda katakan itu adalah sinyalemen yang dilaporkan oleh Kepala SKK Migas (Amien Sunaryadi) ke saya. Ya sudah, kami tempuh gross split saja, jadi tidak ada masalah-masalah itu lagi.

BPK sempat menyampaikan pendapat juga?

Tidak. Tapi Badan Pemeriksa Keuangan mendukung soal gross split. Karena temuan-temuan ini membuat pusing setiap tahun. Pemeriksa pusing, kami pusing. Gross split itu skema pajak dan royalti. Jadi risiko bisnisnya ditanggung oleh kontraktor sendiri. Kalau Anda bisa hemat besar, ya, untung besar. Kalau tidak bisa hemat besar, ya, untungnya kecil. Itu saja.

Bagaimana dengan kontraktor yang tidak siap dengan gross split dan masih memprotes?

Ya, harus siap. Zaman sudah berubah, kenapa rakyat semua yang menanggung akibatnya? Cost recovery itu rakyat yang menanggung, akibatnya lho.

Bagaimana dengan ancaman untuk tidak berinvestasi lagi di Tanah Air?

Lho, ya tidak apa-apa. Banyak investor yang mau.

Minat investor itu tercermin dalam lelang wilayah kerja migas ya, Pak?

Oh, iya. Banyak yang mau. Begini, kalau lelang WK (wilayah kerja) migas baru alias eksplorasi ini berbeda. Eksplorasi ini risiko besar. Karena kalau dia tidak dapat apa-apa, cost hilang, investor yang menanggung semua. Nah, ini tergantung harga minyak. Kalau sekarang harga minyak sekitar US$ 50 per barel, minat investasinya pasti sangat rendah. Coba kalau US$ 100 per barel, mau mengunakan sistem apa pun pasti dijalani. 

Semula kami menduga lelang wilayah kerja mundur terus salah satunya karena kebijakan gross split?

Tidak. Ini sedang menunggu aturan perpajakannya juga. Nah, dalam urusan regulasi Anda berlari cepat, sementara institusi Iain tidak. Contohnya kebijakan pajak untuk gross split tidak segera terbit. 

Bagaimana koordinasi dan komunikasi dengan kementerian lain?

Kami berkomunikasi baik. Saya ngobrol dengan Bu Menteri Keuanganjuga. Ada juga Wakil Menteri Keuangan Mardiasmo. Beliau itu Wakil Ketua Komite Pengawas SKK Migas. Sudah saya sampaikan kepada Dirjen Pajak juga. Mereka memproses juga. 

Skema gross split untuk mendorong investasi itu satu hal. Hal lain, Kementerian ESDM juga gemar mengeluarkan aturan yang menimbulkan ketidakpastian bagi investor karena umurnya singkat. Bagaimana penjelasan Anda?

Berbagai revisi ini sebenarnya bukan mengubah peraturan yang lama. Tapi karena dulunya tidak diatur sehingga kami berpikir perlu diatur supaya mendorong keadilan dan mendorong percepatan investasi. Ini arahan Presiden. Kalau memang tidak cocok dan banyak masukan yang memang masuk akai, Presiden bilang kami harus menyesuaikan. Ya, siap. Tidak apa-apa, kami tidak ada masalah.

Sebetulnya bagaimana prosesnya, karena cepat sekali mengeluarkan regulasi, lalu tiba-tiba direvisi lagi?

Kami melibatkan semua, selalu ada forum group discussion. Salah satu contohnya perubahan aturan kewajiban perseroan mendapat persetujuan dari Menteri ESDM, umurnya bahkan hanya 20 hari. 

Bagaimana penjelasan Anda?

Oh, itu sudah saya revisi. Sewaktu dibuat, kami juga melihat pasar. Bagaimana reaksinya. Karena yang tidak kami izinkan adalah jika swasta itu berdagang dengan pemerintah, dengan negara, di saat yang bersamaan swasta bertentangan dengan negara. Kami mau tes, yang ribut siapa. Akhirnya saya revisi. 

Maksudnya regulasi yang keluar ini kadang-kadang sifatnya hanya tes pasar?

Iya. Begini lho, industri ini masih bisa jauh lebih efisien. Itu saja sebenarnya. Kalau tidak mau mengikuti efisiensi sesuai dengan perkembangan Zaman, industri ini saya kira makin lama makin kecil. 

Termasuk kebijakan membatasi margin distribusi dan niaga gas bumi?

Saya tidak membatasi margin. Saya mendorong agar industri ini bisa efisien. Sekarang begini, adakah yang bisa menentukan harga batu bara?  Tidak ada. Adakah yang bisa menentukan harga jual tembaga atau timah atau bauksit atau emas atau minyak mentah? Tidak ada. 

Orang bisnis itu begini, kalau tidak bisa menentukan harga karena itu global price atau competitive price, apa yang harus saya kelola? Biaya yang makin lama makin efisien. 

Makanya konsep gross split itu agar efisien. Kalau Semua maunya ditanggung negara, ya, semua tidak mau efisien. Industri ini harus kompetitif, harus efisien. Arahan Presiden, kita sebagai bangsa harus kompetitif supaya bisa bersaing di pasar global.

Majalah Tempo, Page 82-83, Sept 17, 2017