Gross Split Oil and Gas Still Negotiable

The government continues to draft a regulation on tax schemes in a share-sharing contract for gross splits. Understandably, oil and gas contractors waiting for this tax regulation are highly anticipated oil and gas contractors. In order for this rule to be published soon, Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar continues to ask the Ministry of Finance to issue a regulation on gross split tax.

Mardiasmo, Deputy Ministry of Finance, states, will make the rules that adopt Government Regulation No. 27/2017. That way, the government will not impose taxes during the exploration period. 

    While in times of exploitation, the government will only impose tax when it has reached the economic period. This means that when the initial production period, the contractors do not pay indirect tax such as Value Added Tax (VAT). However, the draft regulation is still contrary to the investor's proposal regarding gross split tax.

Mardiasmo stated, investors want during the period of exploration and exploitation is not taxable. He explained that the government still wants to impose taxes during the exploitation period, but only when the company has reached the project economy.

"If forever all projects are not subject to VAT and PBB, other taxes, this is looking for a solution," he explained, Tuesday (26/9).

In addition to asking for tax freedom, Mardiasmo said investors also asked not to get lost carry forward scheme. "This is not cost recovery, but it could be tax deducted, can be deducted," he said.

IN INDONESIA

Pajak Gross Split Migas Masih Dinegosiasi

Pemerintah terus merancang peraturan mengenai skema pajak dalam kontrak bagi hasil gross split. Maklum, kontraktor minyak dan gas saat menanti peraturan pajak ini sangat dinanti kontraktor migas. Supaya aturan ini bisa segera terbit, Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar terus meminta Kementerian Keuangan segera menerbitkan peraturan soal pajak gross split.

Mardiasmo, Wakil Kementerian Keuangan, menyatakan, akan membuat aturan yang mengadopsi Peraturan Pemerintah Nomor 27/2017. Dengan begitu, pemerintah tidak akan mengenakan pajak selama masa eksplorasi. Sementara di masa eksploitasi, pemerintah hanya akan mengenakan pajak ketika sudah mencapai masa keekonomian. 

    Ini berarti ketika masa awal produksi, para kontraktor tidak membayar indirect tax seperti Pajak Pertambahan Nilai (PPN). Namun rancangan peraturan tersebut masih bertentangan dengan usulan investor terkait pajak gross split. 

Mardiasmo menyatakan, investor ingin selama masa eksplorasi dan eksploitasi tidak terkena pajak. Dia menjelaskan, pemerintah tetap ingin mengenakan pajak selama masa eksploitasi, tapi hanya ketika perusahaan sudah mencapai keekonomian proyek. 

"Kalau selamanya semua proyek tidak dikenakan PPN dan PBB, tax lainnya, ini sedang mencari solusi," jelasnya, Selasa (26/9).

Selain meminta kebebasan pajak, Mardiasmo menyebut investor juga meminta tidak terkena skema lost carry forward. "Ini bukan cost recovery, tapi bisa jadi tax deducted, bisa dikurangkan,“ katanya.

Kontan, Page-18, Wednesday, Sept 27, 2017

New Scheme Will Be Published in October

Tax incentive schemes for upstream oil and gas investments with the gross split regime are due for release in October. This scheme is expected to be an incentive to encourage investment in upstream oil and gas business. Deputy Finance Minister Mardiasmo said here on Tuesday that the draft government regulation governing investment provisions in the upstream oil and gas business with the gross split regime or profit sharing is expected to be completed and published in October.

Previously, the government has issued Government Regulation No. 27 of 2017 on Amendment to Government Regulation Number 79 of 2010 on Refundable Operating Costs and the Treatment of Income Tax in Upstream Oil and Gas Business. This applies to old investors who have been investing in a product sharing contract with cost recovery or recovery costs as one of its components.

In an interactive discussion on Mining and Energy Expo 2012 Mardiasmo said some articles on Government Regulation No. 27/2017 are not suitable for the gross split regime applied to potential investors. Therefore, new regulations are prepared. His spirit, referring to Government Regulation No 27/2017, in exploration, the government exempts import duties, Income Tax, Import Value Added Tax (VAT), Domestic VAT, and Land and Building Tax.

"But there's still work for loss carry forward. If the pre-vailing model using the rule of law, can only be applied for the next five years. While the exploration is more than five years. We are looking for a solution, "said Mardiasmo.

Separately, Deputy Minister of Energy and Mineral Resources Arcandra Tahar welcomed the progress of the preparation of the rules. He hopes the results can effectively encourage investment in upstream oil and gas.

"I am optimistic with the Ministry of Finance. We have an intensive discussion "said Arcandra.

IN INDONESIA

Skema Baru Akan Terbit pada Oktober

Skema insentif pajak untuk investasi di hulu minyak dan gas bumi dengan rezim gross split direncanakan terbit Oktober. Skema ini diharapkan jadi insentif untuk mendorong investasi di usaha hulu minyak dan gas bumi. Wakil Menteri Keuangan Mardiasmo di Jakarta, Selasa (26/9), mengatakan, rancangan peraturan pemerintah yang mengatur ketentuan investasi di usaha hulu migas dengan rezim gross split atau bagi hasil ini diharapkan selesai dan terbit pada Oktober.

Sebelumnya, pemerintah telah menerbitkan Peraturan Pemerintah (PP) Nomor 27 Tahun 2017 tentang Perubahan terhadap Peraturan Pemerintah Nomor 79 Tahun 2010 tentang Biaya Operasi yang Dapat Dikembalikan dan Perlakuan Pajak Penghasilan di Bidang Usaha Hulu Minyak dan Gas Bumi. Ini berlaku untuk investor lama yang selama ini berinvestasi dengan kontrak bagi hasil (product sharing contract) dengan cost recovery atau biaya pemulihan sebagai salah satu komponennya.

Dalam diskusi interaktif pada Pertambangan dan Energi Expo 2012 Mardiasmo mengatakan, beberapa pasal pada Peraturan Pemerintah No 27/2017 tidak cocok untuk rezim gross split yang diterapkan untuk calon investor. Karena itu, disiapkan peraturan yang baru. Semangatnya, mengacu pada Peraturan Pemerintah No 27/2017, dalam eksplorasi, pemerintah membebaskan bea masuk, Pajak Penghasilan, Pajak Pertambahan Nilai (PPN) impor, PPN dalam negeri, serta Pajak Bumi dan Bangunan.

”Tapi masih ada pekerjaan rumah untuk loss carry forward. Kalau model pre-vailing dengan menggunakan aturan undang-undang, hanya bisa diterapkan untuk lima tahun ke depan. Sementara eksplorasi Iebih dari lima tahun. Ini sedang kita cari solusinya,” kata Mardiasmo.

Secara terpisah, Wakil Menteri Energi dan Sumber Daya Mineral Arcandra Tahar menyambut baik perkembangan penyiapan aturan itu. Ia berharap hasilnya bisa efektif mendorong investasi di hulu migas. 

”Saya optimistis dengan Kementerian Keuangan. Kami berdiskusi dengan intensif” kata Arcandra.

Kompas, Page-20, Wednesday, Sept 27, 2017

PGN Asks Gas Allocation from Pertamina

PT Perusahaan Gas Negara hopes to get gas supply from Jambaran-Tiung Biru Field, Cepu Block about 60 million cubic feet per day. President Director of Perusahaan Gas Negara Joni Triananda Hasjim admitted that his party has expressed his desire to absorb gas from the Jambaran-Tiung Biru field to the Minister of Energy and Mineral Resources (ESDM) Ignasius Jonan.

He hopes to get 50 million cubic feet of gas per day (MMscfd) up to 60 MMscfd which will be distributed to industrial, household, commercial, and transportation consumers. The company has a gas distribution network in Gresik, Probolinggo, Mojokerto, and Surabaya.

"Our hope is 50, 60 [MMscfd] we are ready because our network exists from Gresik to Probolinggo, Mojokerto to Surabaya. In terms of infrastructure, we are ready in addition to electricity, "he said, Monday (25/9).

He considered that the gas allocation from the gas field located in Bojonegoro, East Java could increase PGN gas distribution in East Java. The first gas production projection operated by PT Pertamina EP Cepu was in 2021, in line with the increasing demand for gas in East Java and could be an opportunity to increase gas distribution.

PGN is working on the Gresik-Lamongan-Tuban gas pipeline project and its network in Pasuruan. According to him, the construction of pipeline infrastructure must be built first without having to wait for the emergence of gas demand. The reason, there is a gap of about 5 years between infrastructure development and the growth of the market.

For example, on the South Sumatra West Java (SSWJ) pipeline project, new gas consumers emerge 4 ~ 5 years after the pipeline is built. In the first semester of 2017, PGN has a PGN gas pipeline infrastructure of 7.337 km or an increase of 1.7% compared to the achievement in the first semester of 2010/2012 along 7,212 km.

PGN supplies natural gas to 1,659 large industries and power plants, 1,928 commercial customers such as hotels, restaurants, hospitals and small and medium enterprises (SMEs) as well as 170,094 household customers spread across North Kalimantan and Papua. From those customers, during the period of January-June 2017, PGN managed natural gas of 1,470 MMscfd down compared to the same period last year 1,613 MMscfd.

In detail, the volume of distribution gas is 749 MMscfd and transmission of 721 MMscfd contributed by PGN and its subsidiaries PT Transportasi Gas Indonesia (TGI) and PT Kalimantan Jawa Gas (KJG). Jobi assessed that the government needs infrastructure in many areas either in the form of gas pipeline or storage and regasification facilities.

In addition to pipes, the company manages and distributes natural gas for transportation to 10 gas refueling stations (SPBG) and four mobile refueling units (MRU). President Director of PT Pertamina Elia Massa Manik said that Pertamina through its subsidiary, PT Pertamina Gas (Pertagas), is completing the construction of 267 km of Gresik-Semarang gas transmission line. Physical construction has now reached 85%.

IN INDONESIA

PGN Minta Alokasi Gas dari Pertamina

PT Perusahaan Gas Negara berharap agar bisa mendapatkan pasokan gas dari Lapangan Jambaran-Tiung Biru, Blok Cepu sekitar 60 juta kaki kubik per hari. Direktur Utama Perusahaan Gas Negara Jobi Triananda Hasjim mengaku bahwa pihaknya telah menyampaikan keinginannya untuk menyerap gas dari Lapangan Jambaran-Tiung Biru kepada Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan.

Dia berharap agar bisa mendapatkan gas sebanyak 50 juta kaki kubik per hari (MMscfd) hingga 60 MMscfd yang akan didistribusikan kepada konsumen industri, rumah tangga, komersial hingga transportasi. Pasalnya, perseroan telah memiliki jaringan distribusi gas di Gresik, Probolinggo, Mojokerto, dan Surabaya.

“Harapan kita ya 50, 60 [MMscfd] kita siap karena jaringan kita ada dari Gresik sampai Probolinggo, Mojokerto ke Surabaya. Dari sisi infrastruktur, kita siap selain untuk listrik ya,” ujarnya, Senin (25/9).

Dia menilai bahwa alokasi gas dari lapangan gas yang berlokasi di Bojonegoro, Jawa Timur itu bisa menambah penyaluran gas PGN di Jawa Timur. Proyeksi produksi pertama lapangan gas yang dioperasikan oleh PT pertamina EP Cepu itu pada 2021, sejalan dengan kebutuhan gas di Jawa Timur yang sudah naik dan bisa menjadi peluang peningkatan distribusi gas.

PGN sedang mengerjakan proyek pengembangan pipa gas Gresik-Lamongan-Tuban dan jaringan di Pasuruan. Menurutnya, pembangunan infrastruktur pipa harus dibangun lebih dulu tanpa harus menanti munculnya permintaan gas. Alasannya, terdapat jeda sekitar 5 tahun antara pembangunan infrastruktur dan tumbuhnya pasar. 

Sebagai contoh pada proyek pipa South Sumatera West Java (SSWJ), konsumen gas baru bermunculan 4~5 tahun setelah pipa dibangun. Pada semester I/2017, PGN memiliki infrastruktur pipa gas PGN sepanjang 7.337 km atau naik 1,7% dibandingkan dengan capaian pada semester 1/2016 sepanjang 7.212 km.

PGN memasok gas bumi ke 1.659 industri besar dan pembangkit listrik, 1.928 pelanggan komersial seperti hotel, restoran, rumah sakit, dan usaha kecil menengah (UKM) serta 170.094 pelanggan rumah tangga yang tersebar hingga Kalimantan Utara dan Papua. Dari pelanggan tersebut, selama periode Januari-Juni 2017, PGN mengelola gas bumi sebesar 1.470 MMscfd turun dibandingkan dengan periode yang sama tahun lalu 1.613 MMscfd.

Rincinya, volume gas distribusi sebesar 749 MMscfd dan transmisi sebesar 721 MMscfd yang dikontribusikan oleh PGN dan anak perusahaan PT Transportasi Gas Indonesia (TGI) dan PT Kalimantan Jawa Gas (KJG). Jobi menilai bahwa pemerintah membutuhkan infrastruktur di banyak wilayah baik berupa pipa gas maupun fasilitas penyimpanan dan regasifikasi. 

Selain pipa, perseroan mengelola dan menyalurkan gas bumi untuk transportasi ke 10 stasiun pengisian bahan bakar gas (SPBG) dan empat mobile refueling unit (MRU). Direktur Utama PT Pertamina Elia Massa Manik mengatakan, Pertamina melalui anak perusahaan, PT Pertamina Gas (Pertagas), sedang menyelesaikan pembangunan pipa transmisi gas ruas Gresik-Semarang sepanjang 267 km. Konstruksi fisik kini telah mencapai 85%.

Bisnis Indonesia, Page-28, Wednesday, Sept 27, 2017

Pertamina Spends Rp 20.46 Trillion For JTB

PT Pertamina through its subsidiary, PT Pertamina EP Cepu (PEPC) will issue an investment fund worth 1.547 billion US dollars or Rp 20.46 trillion for the Jambaran-Tiung Biru Gas Fieldization (JTB) field project. Investment in projects that are part of the national strategic project is expected to provide a multiplier effect for the national economy.

President Director of PT Pertamina Elia Massa Manik explained that the development of Jambaran-Tiung Biru will be a new hope for Indonesia, especially to overcome the gas supply deficit in Central Java and East Java. With JTB gas reserves of 2.5 trillion cubic feet (TCF) Pertamina expects the industries in Central Java and East Java to have sufficient gas supply to drive the national economy.

"The development of the JTB field will also create employment directly and indirectly and in turn will reduce the poverty rate which is one of President Joko Widodo's priority programs," Massa said in Bojonegoro, Monday (25/9).

Currently, according to Massa, Pertamina is still completing the negotiation of the transfer of participating interest (PI) in the development of JTB. Pertamina now has a 45 percent PI. However, after managing it, Pertamina will control PI up to 91 percent and the remaining nine percent will be owned by regionally owned enterprises (BUMD).

Along the process of negotiation, has been a lot of progress achieved JTB project. Progress is among others the achievement of a gas purchase agreement with PT PLN at a price of 7.6 US dollars per Million Metric British Thermal Unit (MMBTU) on August 8, 2017.

"The agreement was the beginning to be able to develop gas field JTB, because there are already buyers," said Massa.

Massa later explained that JTB field has a high complexity with 34 percent CO2 content, 330 million cubic feet per day gas processing facility (MMSCFD), and gas selling 172 MMSCFD. The pod project will begin drilling after PEPC appointed PT Rekayasa Industri (Rekind) and PT Japan Gas Corporation which has won the tender. "

     Massa also added that currently, Pertamina through its subsidiary, PT Pertamina Gas (Pertagas) is completing the construction of 267 kilometers of Gresik-Semarang pipeline with investment value of approximately 515.7 million US dollars or Rp 6.70 trillion

"With EPC progress now reaching 85 percent, it is estimated that this project will be onsntream in the middle of 2018," said Massa.

President Director of PT Pertamin EP Cepu (PEPC) Adriansyah confirmed that the JTB gas field development project project will have a multiplier effect for the local community. That is none other than because the project will absorb about 6,000 local workers at the peak of the project.

"The JTB project will employ 6,000 local workers in Bojonegoro and surrounding areas. Our commitment to contribute to boost the regional economy is by creating jobs for local communities," Adriansyah said.

Adriansyah added, indeed for early civil work (ECW), currently there are only about 200 unskill labor in the project. However, as more work on JTB projects will be built in the future, local labor needs will also increase.

IN INDONESIA

Pertamina Alirkan Rp 20,46 Triliun Untuk JTB

PT Pertamina melalui anak perusahaan, PT Pertamina EP Cepu (PEPC) akan mengeluarkan dana investasi senilai 1,547 miliar dolar AS atau Rp 20,46 triliun untuk proyek unitisasi Lapangan Gas Jambaran-Tiung Biru (JTB). Investasi terhadap proyek yang merupakan bagian proyek strategis nasional tersebut diharapkan dapat memberikan multiplier effect bagi ekonomi nasional.

Direktur Utama PT Pertamina Elia Massa Manik menjelaskan, pengembangan Jambaran-Tiung Biru akan menjadi harapan baru bagi Indonesia, khususnya untuk mengatasi defisit pasokan gas di Jawa Tengah dan Jawa Timur. Dengan cadangan gas JTB sebesar 2,5 triliun kaki kubik (TCF) Pertamina berharap industri di Jawa Tengah dan Jawa Timur akan mendapat suplai gas yang cukup menggerakkan ekonomi nasional.

"Pengembangan lapangan JTB juga akan membuka lapangan kerja secara langsung maupun tidak langsung dan pada gilirannya akan mengurangi angka kemiskinan yang menjadi salah satu program prioritas Presiden Joko Widodo," kata Massa di Bojonegoro, Senin (25/ 9).

Saat ini, menurut Massa, Pertamina masih terus menuntaskan negosiasi pengalihan hak partisipasi (participating interest/PI) dalam pengembangan JTB. Pertamina kini memiliki PI 45 persen. Namun, setelah alih kelola, Pertamina akan menguasai PI hingga 91 persen dan sisanya sembilan persen akan dimiliki badan usaha milik daerah (BUMD).

Seiring proses negoisasi tersebut, telah banyak kemajuan diraih proyek JTB. Kemajuan yang dimaksud antara lain tercapainya kesepakatan jual beli gas bumi dengan PT PLN dengan harga 7,6 dolar AS per Million Metric British Thermal Unit (MMBTU) pada 8 Agustus 2017.

"Kesepakatan itu menjadi awal untuk bisa mengembangkan lapangan gas JTB, karena sudah ada pembelinya," ujar Massa.

Massa kemudian menjelaskan, lapangan JTB memiliki kompleksitas tinggi dengan kandungan CO2 34 persen, fasilitas pemrosesan gas 330 juta kaki kubik per hari (MMSCFD), dan produksi gas jual 172 MMSCFD. Adapun pod proyeknya akan dimulai pengeborannya setelah PEPC menunjuk PT Rekayasa Industri (Rekind) dan PT Japan Gas Corporation yang sudah memenangkan tender."   

Massa juga menambahkan, saat ini, Pertamina melalui anak perusahaan, PT Pertamina Gas (Pertagas) sedang menyelesaikan pembangunan pipa Gresik-Semarang sepanjang 267 kilometer dengan nilai investasi sekitar 515,7 juta dolar AS atau Rp 6,70 triliun

"Dengan progres EPC saat ini sudah mencapai 85 persen, diperkirakan proyek ini akan onsntream pada per-tengahan tahun 2018," kata Massa. 

Direktur Utama PT Pertamin EP Cepu (PEPC) Adriansyah memastikan proyek proyek pengembangan Lapangan gas JTB akan memiliki multiplier effect bagi masyarakat setempat. Itu tidak lain karena proyek tersebut akan menyerap sekitar 6.000 pekerja lokal pada  masa puncak proyek.

"Proyek JTB akan mempekerjakan 6.000 tenaga lokal di Bojonegoro dan sekitarnya, Komitmen kami untuk bisa berkontribusi mendorong perekonomian daerah salah satunya adalah dengan menciptakan lapangan kerja bagi masyarakat setempat,” kata Adriansyah 

Adriansyah menambahkan, memang untuk early civil work (ECW), saat ini baru saja terdapat sekitar 200 orang unskill labour dalam proyek tersebut. Namun, sejalan dengan makin padatnya pengerjaan proyek JTB di masa mendatang, kebutuhan tenaga kerja lokal juga akan semakin meningkat. 

Republika, Page-19, Tuesday, Sept 26, 2017

JTB Project Can Hack Economy

Jambaran-Tiung Biru will be a new hope for Indonesia, especially to overcome the gas supply deficit in Central Java and East Java. The government is optimistic that the gas field of Jambaran-Tiung Biru (JTB) unitization in Bojonegoro, East Java, can produce in 2021.

"I think the JTB gas field development project could be completed in 3.5 years, so it will start production in 2021," said Energy and Mineral Resources Minister Ignasius Jonan in Bojonegoro yesterday.

He stated that after laying the first stone JTB gas field development project accompanied by Regent Bojonegoro Suyoto, Head of SKK Migas Amien Sunaryadi, and President Director of PT Pertamina EP Elia Massa Manik.

According to Jonan, the development of JTB gas field can be implemented after the reduction of Plant of Development (POD) project of JTB gas field development from US $ 2.1 billion to US $ 1,547 billion. In addition, there is an agreement between PT Pertamina EP and PLN as JTB gas buyer with a price of US $ 7.6 / million standard cubic feet per day (mmscfd).

In accordance with the plan, JTB field gas producing 330 mmscfd, of which 330 mmscfd will be distributed through transmission pipes of Gresik-Semarang gas 28 in diameter.

"The buyer is only PLN. If there are more buyers, it can be because the potential of JTB gas field is quite big, "said Jonan, who today plans to open the 2017 Energy and Mining Expo Fair with a justice theme for people's welfare and sustainable investment in Jakarta.

Absorb Workers

Jonan hopes that the development of JTB gas field can absorb local workforce, but it can also encourage the growth of various industries as the impact of the gas field development project. President Director of PT Pertamina Elia Massa Manik said that the groundbreaking of the Jambaran-Tiung Biru gas field development will be a new hope for Indonesia, especially to overcome the gas supply deficit in Central Java and East Java.

Pertamina is determined to immediately realize JTB which is part of national strategic project in order to provide multiplier effect for national economy.

"The development of the JTB gas field will also create employment directly and indirectly and in turn will reduce the poverty rate which is one of President Ioko Widodo's priority programs," he said.

Currently, Pertamina through its subsidiary PT Pertamina Gas (Pertagas) is completing the construction of 267 kilometers of Gresik-Semarang pipeline with an investment of US $ 515.7 million. On that occasion, Regent Bojonegoro Suyoto urged contractors working on the JTB gas field unit development project, which would require about 6,000 workers, to utilize local labor.

"We ask the contractor to utilize skill and workforce that do not have kemampun from local Bojonegoro also Blora, Central Java," he said.

IN INDONESIA

Proyek JTB Bisa Dongkrak Ekonomi

Jambaran-Tiung Biru akan menjadi harapan baru bagi Indonesia, khususnya untuk mengatasi defisit pasokan gas di Jawa Tengah dan Jawa Timur. Pemerintah optimistis lapangan gas unitisasi Jambaran-Tiung Biru (JTB) di Kabupaten Bojonegoro, Jawa Timur, bisa berproduksi pada 2021.

“Saya kira pekerjaan proyek pengemgbangan lapangan gas JTB bisa selesai 3,5 tahun sehingga sudah berproduksi pada 2021,” kata Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan di Bojonegoro, kemarin.

Ia menyatakan hal itu seusai meletakkan batu pertama proyek pengembangan lapangan gas JTB dengan didampingi Bupati Bojonegoro Suyoto, Kepala SKK Migas Amien Sunaryadi, dan Direktur Utama PT Pertamina EP Elia Massa Manik.

Menurut Jonan, pengembangan lapangan gas JTB bisa dilaksanakan setelah ada pengurangan plant of development (POD) proyek pengembangan lapangan gas JTB dari US$ 2,1 miliar menjadi US$ 1,547 miliar. Selain itu, ada kesepakatan antara PT Pertamina EP dan PLN sebagai pembeli gas JTB dengang harga US$ 7,6/juta standar kaki kubik per hari (million metric standard cubic feet per day/mmscfd).

Sesuai rencana, gas lapangan JTB yang berproduksi sebesar 330 mmscfd, di antaranya sebesar 330 mmscfd akan didistribusikan melalui pipa transmigis gas Gresik-Semarang yang berdiameter 28 inci.

“Pembelinya hanya PLN. Kalau memang ada pembeli lagi, ya bisa, sebab potensi lapangan gas JTB cukup besar,” kata Jonan, yang hari ini rencananya akan membuka Pekan Pertambangan dan Energi Expo 2017 bertema Energi berkeadilan untuk kesejahteraan rakyat dan investasi berkelanjutan, di Jakarta.

Serap Pekerja 

Jonan berharap pengembangan lapangan gas JTB bisa menyerap tenaga kerja lokal, selain juga bisa mendorong bertumbuhnya berbagai aneka industri sebagai dampak adanya proyek pengembangan lapangan gas tersebut. Direktur Utama PT Pertamina Elia Massa Manik mengatakan groundbreaking pengembangan lapangan gas Jambaran-Tiung Biru akan menjadi harapan baru bagi Indonesia, khususnya untuk mengatasi defisit pasokan gas di Jawa Tengah dan Jawa Timur.

Pertamina bertekad segera mewujudkan JTB yang merupakan bagian dari proyek strategis nasional agar dapat memberikan multiplier effect bagi ekonomi nasional.

“Pengembangan lapangan gas JTB juga akan membuka lapangan kerja secara langsung maupun tidak langsung dan pada gilirannya akan mengurangi angka kemiskinan yang menjadi salah satu program prioritas Presiden Ioko Widodo,” tuturnya.

Saat ini, Pertamina melalui anak perusahaan PT Pertamina Gas (Pertagas) sedang menyelesaikan pembangunan pipa Gresik-Semarang sepanjang 267 kilometer dengan investasi senilai US$ 515,7 juta. Pada kesempatan itu, Bupati Bojonegoro Suyoto mendesak kontraktor yang bekerja di proyek pengembangan unitisasi lapangan gas JTB, yang akan membutuhkan sekitar 6.000 tenaga kerja, untuk memanfaatkan tenaga kerja lokal.

“Kami minta kontraktor memanfaatkan tenaga kerja skill maupun tenaga kerja yang tidak memiliki kemampun dari lokal Bojonegoro juga Blora, Jawa Tengah,” tegasnya. 

Media Indonesia, Page-17, Tuesday, Sept 26, 2017

Pertamina starts $1.54b project in East Java gas Field

State-owned energy giant Pertamina, through its subsidiary PT Pertamina. EP Cepu (PEPC), commenced on Monday the development of the Jambaran-Tiung Biru (JTB) field in Bojonegoro East Java with an estimated investment of US$1.54 billion.  The project began after Pertamina agreed with its buyer, state-ovvned electricity firm PLN, the price for gas the latter will receive at its plant in Gresik, East Java, among other issues.

PEPC has appointed state-owned construction company PT Rekayasa Industri (Rekind) and its counterpart PT JGC Indonesia, the local unit of Japan-based engineering firm JGC Corp., to build the JTB field, which holds 2.5 trillion cubic feet (tcf) in gas reserves. It is slated to begin production in 2021.

Once operational, the field will be able to generate 172 million standard cubic feet per day (mmscfd) of gas Wwithin a period of 16 years. Pertamina will sell 100 mmscfd of the total gas output to PLN with a price of $7.6 per million British thermal units (mmbtu). The rest will be allocated to support industrialactivities around the JTB field.

The gas from the field is scheduled to be transported through pipelines from Gresik to Central Java’s capital Semarang, which is being built by another Pertamina subsidiary, PT Pertamina Gas (Pertagas), with an investment worth $515.7 million. The facility, set for completion by mid2018, will be able to transmit 500 mmscfd of gas to industrial firms across seven cities in Central and East Java provinces.

“This way, the utilization of gas can be expanded, while several delayed projects can resume to drive the economy of Central and East Java,” Pertamina president director Elia Massa Manik said in astatement. The project would bring $3.61 billion in state revenues until the project ends in 2035, head of Up-stream Oil and Gas Regulatory Special Task Force (SKK Migas), Amien Sunaryadi, said in a separate statement.

Earlier, SKKMigas said the construction ofthe field was over-priced and consequently, ordered an audit, which resulted in the current investment value. At present, Pertamina indirectly controls 49.4 percent in the JTB field, part of the Cepu Block that lies between Central and East Java. Meanwhile, United States oil giant ExxonMobil and a local government-owned enterprise (BUMD) hold 41.4 percent stake and 9.2 percent stake, respectively.

The Energy and Mineral Resources Ministry has mandated Pertamina to take over ExxonMobil’s shares valued at an estimated $121 million. Separately, on the same day, Pertamina’s subsidiary PT Pertamina Hulu Energi (PHE) also began to develop a new gas field, SP gas field, in the Offshore Northwest Java (ONWJ) block that spans from the north of Cirebon, West Java to Thousand Islands, Jakarta.

PHE has earmarked $92.7 million to build infrastructure as well as drill three development wells at the field, which may produce 30 mmscfd of gas starting from 2018.

“This shows our commitment to boosting national oil and gas production,” PHE president director R. Gunung Sardjono said in a statement.

The ONWJ block was taken over by PHE earlier this year and it is the first block to be operated under the new gross-split scheme, which requires oil and gas contractors to pay exploration and exploitation costs on their own in exchange for a higher profit split. The firm previously struggled to mn the block under the new scheme due to its economic infeasibility.

However, Gunung confirmed in August that the Energy and Mineral Resources Ministry had approved its proposal to increase the companys portion of production output to 73.5 percent for oil fields and 81 percent for gas fields, from the earlier agreement of 57.5 percent and 62.5 percent, respectively. As of July the ONWJ block produced 33,000 barrels of oil per day (bopd) and 126.8 mmscfd of gas.

Jakarta Post, Page-19, Tuesday, Sept 26, 2017

Pertamina Begins Construction of JTB Project US $ 1.54 M

PT Pertamina through its subsidiary PT Pertamina EP Cepu (PEPC) initiated the development of the Jambaran-Tiung Biru Project worth US $ 1.54 billion. The project will increase state revenues of US $ 3.61 billion during the production sharing contract (PSC).

Laying the first stone of the Jambaran-Tiung Biru Project was inaugurated by the Minister of Energy and Mineral Resources (ESDM) Ignatius Jonan. In the inauguration was attended by Head of SKK Migas Amien Sunaryadi, Head of BPH Migas Fanshurullah Asa, President Commissioner of PT Pertamina Tanri Abeng, President Director of PT Pertamina Elia Massa Manik, and Bupati Bojonegoro Suyoto.

Pertamina President Director Elia Massa Manik said the groundbreaking of Jambaran-Tiung Biru development would be a solution to overcome the gas supply deficit in Central Java and East Java. With gas reserves of 2.5 trillion cubic feet, the company expects gas supply from Jambaran-Tiung Biru to meet the needs of industry in this region so that it can drive the national economy. He added that with the progress of the project, Pertamina is optimistic that the Jambaran-Tiung Biru Project will produce 2021.

"Utilization of gas can be expanded, so that projects that have been delayed and its economy is doubtful, will run again one by one move the economy in Central Java and East Java," he said in his official statement on Monday (25/9).

The Jambaran-Tiung Biru project has a high complexity with 34% carbon dioxide and 330 million metric standard cubic feet per day / MMscfd gas processing facility. Meanwhile, the selling gas produced is 172 Mmscfd. Drilling wells for this project will start after PEPC appointed PT Rekayasa Industri (Rekind) and PT Japan Gas Corporation which has won the tender.

Pertamina EP President Director Cepu Adriansyah added that the construction of the well and road wells has been done in Lapangan Jambaran-Tiung Biru. Not only that, engineering work (engineering) has also been done. The Jambaran-Tiung Biru project is designed to be completed in 36 months.

"We are ready to drill two wells next year," he said. Later, it will drill a total of six wells in Jambaran-Tiung Biru.

Pertamina is also still negotiating the transfer of ownership portion in the Jambaran-Tiung Biru Project. Pertamina now has a 45% ownership share. After the transfer of management, Pertamina will control ownership rights up to 91% and the remaining 9% will be owned by regionally owned enterprises (BUMD).

As is known, through Letter Number 9/13 / MEM.M / 2017 dated January 3, 2017; the government through the Ministry of ESDM ordered Pertamina c.q. PT Pertamina EP Cepu (PEPC) to fully develop JTB Field and complete the field transfer process with ExxonMobil Cepu Limited's business scheme.

Adriansyah added that the company and ExxonMobil have reached agreement on the transfer of ownership. In the future, Pertamina will have to pay compensation for the expenses incurred and future value related to ExxonMobil's Jambaran-Tiung Biru Project.

"We with ExxonMobil not finalized the agreement, only less final wording in the agreement," he said.

Meanwhile, about gas supply, Pertamina has completed negotiations with PLN. According to Massa, the two have agreed the gas price from the Jambaran ~ Tiung Biru Project amounting to US $ 7.6 per million British thermal unit / Mmbtu on August 8.

"The agreement is the beginning to be able to develop gas field JTB, because there are already buyers," he said.

Pipe Gresik-Semarang is not just working on the upstream side, Pertamina is also building a transmission pipeline Gresik-Semarang through another subsidiary, PT Pertamina Gas (Pertagas). The pipeline with an investment value of US $ 515.7 million will extend along 267 kilometers (km) with a capacity of 500 MMScfd.

The pipeline, equipped with 19 future connections, has the potential to channel gas to industries in seven districts along Central Java and East Java that pass through the pipeline. While the gas from the Jambaran-Tiung Biru Project will be channeled through this pipeline, which is 100 MMscfd for PT PLN and 72 MMscfd for industry.

"With EPC progress now reaching 85%, it is estimated that this project will be onstream in mid 2018," said Massa.

Meanwhile, Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi stated that the Jambaran-Tiung Biru Project will also increase state revenue from the oil and gas sector.

"Projected state revenue from this project until the contract is completed in 2035 reached US $ 3.61 billion or more than Rp 48 trillion," he said. The project will also absorb up to 6,000 workers in the construction period.

IN INDONESIA

Pertamina Mulai Konstruksi Proyek JTB US$ 1,54 M

PT Pertamina melalui anak usahanya PT Pertamina EP Cepu (PEPC) memulai pengembangan Proyek Jambaran-Tiung Biru senilai US$ 1,54 miliar. Proyek ini akan menambah penerimaan negara US$ 3,61 miliar sepanjang masa kontrak kerja sama (production sharing contract/PSC).

Peletakkan batu pertama  Proyek Jambaran -Tiung Biru diresmikan oleh Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan. Dalam peresmian ini juga hadir Kepala SKK Migas Amien Sunaryadi, Kepala BPH Migas Fanshurullah Asa, Komisaris Utama PT Pertamina Tanri Abeng, Direktur Utama PT Pertamina Elia Massa Manik, dan Bupati Bojonegoro Suyoto.

Direktur Utama Pertamina Elia Massa Manik mengatakan, groundbreaking pengembangan Jambaran-Tiung Biru akan menjadi solusi untuk mengatasi defisit pasokan gas di Jawa Tengah dan Jawa Timur. Dengan cadangan gas sebesar 2,5 triliun kaki kubik, perseroan berharap pasokan gas dari Jambaran-Tiung Biru mampu mencukupi kebutuhan industri di wilayah ini sehingga bisa menggerakkan ekonomi nasional. Ditambahkannya, dengan berbagai kemajuan proyek tersebut, Pertamina optimistis Proyek Jambaran-Tiung Biru akan berproduksi 2021. 

“Pemanfaatan gas bisa diperluas, sehingga proyek-proyek yang sempat tertunda dan keekonomiannya diragukan, akan kembali berjalan satu persatu menggerakkan perekonomian di Jawa Tengah dan Jawa Timur,” kata dia dalam keterangan resminya, Senin (25/9).

Proyek Jambaran-Tiung Biru memiliki kompleksitas tinggi dengan kandungan karbondioksida mencapai 34% dan fasilitas pemrosesan gas 330 million metric standard cubic feet per day/MMscfd. Sementara gas jual yang dihasilkan yakni sebesar 172 Mmscfd. Pengeboran sumur untuk proyek ini akan dimulai setelah PEPC menunjuk PT Rekayasa Industri (Rekind) dan PT Japan Gas Corporation yang sudah memenangkan tender.

Presiden Direktur Pertamina EP Cepu Adriansyah menambahkan, pembangunan tapak sumur dan jalan sudah dilakukan di Lapangan Jambaran-Tiung Biru. Tidak hanya itu, pekerjaan rekayasa (engineering) juga sudah dikerjakan. Proyek Jambaran-Tiung Biru dirancang untuk dapat diselesaikan dalam 36 bulan.

“Kami siap melakukan pengeboran dua sumur tahun depan,” ujar dia. Nantinya, pihaknya akan mengebor total enam sumur di Jambaran-Tiung Biru.

Pertamina juga masih menuntaskan negosiasi pengalihan porsi kepemilikan dalam Proyek Jambaran-Tiung Biru. Pertamina kini masih memiliki porsi kepemilikan 45%. Pasca alih kelola, Pertamina akan menguasai hak kepemilikan hingga 91% dan sisanya 9% akan dimiliki badan usaha milik daerah (BUMD).

Seperti diketahui, melalui Surat Nomor 9/13/MEM.M/2017 tertanggal 3 Januari 2017; pemerintah melalui Kementerian ESDM memerintahkan Pertamina c.q. PT Pertamina EP Cepu (PEPC) untuk mengembangkan secara penuh Lapangan JTB dan menyelesaikan proses pengalihan lapangan dengan skema bisnis bersama ExxonMobil Cepu Limited.

Adriansyah menambahkan, perseroan dan ExxonMobil telah mencapai kesepakatan soal pengalihan kepemilikan tersebut. Nantinya, Pertamina harus membayar kompensasi atas biaya-biaya yang telah dikeluarkan dan nilai di masa mendatang terkait Proyek Jambaran-Tiung Biru kepada ExxonMobil.

“Kami dengan ExxonMobil belum selesai final agreementnya, hanya kurang final wording di agreement-nya,” kata dia.

Sementara itu soal pasokan gas, Pertamina telah merampungkan negosiasi dengan PLN. Menurut Massa, keduanya telah menyepakatai harga gas dari Proyek Jambaran~Tiung Biru sebesar US$ 7,6 per juta british thermal unit/Mmbtu pada 8 Agustus lalu.

“Kesepakatan itu menjadi awal untuk bisa mengembangkan lapangan gas JTB, karena sudah ada pembelinya,” ujarnya.

Pipa Gresik-Semarang tidak sekadar menggarap sisi hulu, Pertamina juga sedang membangun pipa transmisi Gresik-Semarang melalui anak usahanya yang lain, PT Pertamina Gas (Pertagas). Pipa dengan nilai investasi sebesar US$ 515,7 juta ini akan membentang sepanjang 267 kilometer (km) dengan kapasitas penyaluran 500 Mmscfd. 

Pipa yang dilengkapi dengan 19 future connection ini berpotensi menyalurkan gas bagi industri di tujuh kabupaten/kota sepanjang Jawa Tengah dan Jawa Timur yang terlewati pipa. Sementara gas dari Proyek Jambaran-Tiung Biru sendiri akan dialirkan melalui pipa ini, yakni sebesar 100 MMscfd untuk PT PLN dan 72 MMscfd untuk industri.

“Dengan progres EPC saat ini sudah mencapai 85%, diperkirakan proyek ini akan onstream pada pertengahan tahun 2018,” tutur Massa.

Sementara itu, Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Amien Sunaryadi menyatakan, Proyek Jambaran-Tiung Biru juga akan menambah penerimaan negara dari sektor migas.

“Diproyeksikan penerimaan negara dari proyek ini sampai kontrak selesai pada 2035 mencapai US$ 3,61 miliar atau lebih dari Rp 48 triliun,” kata dia. Proyek juga akan menyerap tenaga kerja hingga 6.000 orang pada masa konstruksi.

 Inverstor Daily, Page-23, Tuesday, Sept 26, 2017

Keep the Old Field Production Continuously Flowing

Contracts of oil and gas blocks that will expire during the period 2015-2018 as many as 35 work areas. In 2017-2018, there are 11 oil and gas blocks whose contracts will expire In early 2017, the Offshore Offshore North West Java (ONWJ) working contract has expired and is immediately signed a new contract with a gross split share scheme.

The Mahakam Block contributed 20 percent to national gas production with 1.504 million cubic feet per day (MMscfd) and condensate 55,100 barrels of condensate per day. After Mahakam, there are nine oil and gas blocks that will end in 2018 such as Tuban Block, Ogan Komering, Sanga-Sanga and South East Sumatera.

In 2021, the largest oil and gas block in Indonesia, the Rokan Block, will be finished. The Rokan Block operated by Chevron is capable of producing 226,500 barrels per day (bpd) or 28% of the national oil production. In 2023, the Corridor Block with gas production of 980 MMscfd or 13% of national gas production will also end.

Upstream Oil and Gas Analyst WoodMackenzie Johan Utama said that in addition to the investment climate oil prices and the development cycle of the field will be a determinant of whether the investment is still running so that oil and gas production activities are not disturbed. However, it is necessary to pay attention to the time of the contract renewal decision so that the current operator is more comfortable in establishing the investment plan.

As an illustration, for the three ending blocks such as the Mahakam Block operated by Total E & P Indonesie, Rokan Chevron Pacific Indonesia Block and Corridor ConocoPhillips Grissik Limited issued capital expenditures and operations in 2016 of US $ 3 billion. 

    From the material proposed by the Indonesian Petroleum Association (IPA) related to the Oil and Natural Gas Bill, there are several factors supporting the development of upstream oil and gas sector. To create an investment climate the government needs to provide more attractive fiscal provisions.

Fiscal provisions when it is considered to accelerate the decline in production because the portion of the country that is less flexible. Flexibility is also expected to be reflected in the terms of the cooperation contract. The reason, at this time, the government refers to the Government Regulation No. 35/2004 on Upstream Oil and Gas Business Activities with a 30-year contract life and a maximum extension twice for 10 years for one extension.

"Operators need a lot of time to plan activities and budgets, decisions that are too close to the end of the contract tend to result in a minimum budget and activity plan," he said.

Old squares or wells become the current operator's challenge to the government. The reason, the older age, the decline in production the faster. Thus excessive effort is required to maintain production. In particular, the government still uses oil and gas production as a macro assumption in the state budget.

LIFTING ASSUMPTIONS

Based on data on the preparation of Macroeconomic Framework and Fiscal Policy Principles 2018 and Medium Term Budget Framework 2018-2022, Minister of ESDM Ignasius Jonan conveyed his input to Finance Minister Sri Mulyati. In the proposal dated 14 February 2017, the assumption of oil and gas lifting made two versions of moderate and optimistic.

     For moderate assumptions, by 2018 oil lifting target of 771,000 bpd and gas 1.19 million barrels of oil equivalent per day (boepd). Oil assumption in 2019 fell to 722,000 bpd and gas rose to 1.21 million boepd.

By 2020, the moderate oil lifting assumption touches 695,000 bpd and gas 1.19 million boepd. Oil lifting assumptions continue to fall in 2021 and 2022 with 651,000 bpd and 589,000 bpd respectively. For cost recovery, the initial assumption, in 2019 touched US $ 12.49 billion, by 2020 of US $ 12.09 billion, at 2021 US $ 12/14 billion, and to US $ 12.18 billion in 2022.

The assumption is lower target through optimization efforts. Cost recovery in 2019 is US $ 10.82 billion, in 2020 of US $ 10.28 billion, in 2021 of US $ 9.76 billion and US $ 9.28 billion in 2022. The Government wants oil and gas production to be maintained even up. However, from-the-side operating cost recovery is expected to continue to fall.

"Of course, these techniques require more cost, and generally the ratio of production increase to the value of investment will tend to be high when compared with the field which generally still younger," he said.

Deputy Head of SKK Migas Sukandar said that currently there are 86 production working areas with one of them working area using gross split contract so that its impact on cost recovery reduction has not been seen next year.

Based on data in August 2017, the realized cost recovery was US $ 7.22 billion from the target of US $ 10.4 billion so far this year. However, it is estimated that the realization will exceed the target of US $ 10.7 billion. Previously mentioned the potential for additional cost recovery at the end of the year as capital expenditures usually increase towards the end of the year.

He said the reduction of cost recovery is difficult to realize because of the recorded data no matter how the ceiling is set realization is always missed because of the number of fields or old wells that cost more to produce oil or gas. Moreover, current drilling activities in the field easier to produce water than to produce oil so it costs more to achieve the production target.

"The more the production is even water instead of oil. The more days the oil gets smaller, "he said.

The government as the owner of the field, has a larger share in the revenue share and has the authority to set the direction of upstream oil and gas business. Of course the government wants upstream oil and gas activities both from old fields and new fields in order to provide maximum benefits.

The benefits of the government itself is decisive. It can be a huge state revenue or double effect that has always been voiced that oil and gas is not a commodity, but a lighter of economic growth.

IN INDONESIA

Menjaga Produksi Lapangan Tua Terus Mengalir

Kontrak blok minyak dan gas bumi yang akan berakhir selama periode 2015-2018 sebanyak 35 wilayah kerja. Pada 2017-2018, ada 11 blok migas yang kontraknya akan berakhir Pada awal 2017, kontrak kerja sama Blok Offshore North West Java (ONWJ) telah berakhir dan langsung diteken kontrak baru dengan skema bagi hasil kotor atau gross split.

Kemudian, disambung Blok Mahakam yang berkontribusi 20% terhadap produksi gas nasional dengan capaian produksi sebesar 1.504 juta kaki kubik per hari (MMscfd) dan kondensat 55.100 barel kondensat per hari. Setelah Mahakam, terdapat sembilan blok migas yang akan berakhir pada 2018 seperti Blok Tuban, Ogan Komering, Sanga-Sanga, dan South East Sumatera.

Pada 2021, blok migas terbesar di Indonesia, Blok Rokan, akan berkhir. Blok Rokan yang dioperasikan oleh Chevron mampu memproduksi minyak 226.500 barel per hari (bph) atau 28% dari produksi minyak nasional. Pada 2023, Blok Corridor dengan produksi gas 980 MMscfd atau 13% produksi gas nasional juga akan berakhir.

Analis Hulu Minyak dan Gas Bumi WoodMackenzie Johan Utama mengatakan bahwa selain iklim investasi harga minyak dan siklus pengembangan lapangan akan menjadi penentu apakah investasi tetap berjalan sehingga kegiatan produksi migas tidak terganggu. Namun, perlu memperhatikan waktu keputusan perpanjangan kontrak agar operator saat ini lebih nyaman menetapkan rencana investasi.

Sebagai gambaran, untuk tiga blok yang akan berakhir seperti Blok Mahakam yang dioperatori Total E&P Indonesie, Blok Rokan Chevron Pacific Indonesia, dan Blok Corridor ConocoPhillips Grissik Limited mengeluarkan belanja modal dan operasi pada 2016 sebesar US$ 3 miliar. 

     Dari materi usulan Indonesian Petroleum Association (IPA) terkait dengan RUU Minyak dan Gas Bumi, terdapat beberapa faktor pendukung pengembangan sektor hulu migas. Untuk menciptakan iklim investasi pemerintah perlu memberikan ketentuan fiskal yang lebih menarik.

Ketentuan fiskal saat justru dianggap mempercepat penurunan produksi karena porsi negara yang kurang fleksibel. Fleksibilitas juga diharapkan bisa tercermin pada masa kontrak kerja sama. Pasalnya, saat ini, pemerintah mengacu pada Peraturan Pemerintah Nomor 35/2004 tentang Kegiatan Usaha Hulu Migas dengan umur kontrak 30 tahun dan perpanjangan maksimum dua kali sepanjang 10 tahun untuk sekali perpanjangan.

“Operator perlu banyak waktu untuk merencanakan kegiatan dan anggaran, keputusan yang terlalu dekat akhir kontrak cenderung menghasilkan anggaran dan rencana kegiatan yang minimum,” katanya.

Lapangan-lapangan atau sumur-sumur tua menjadi tantangan operator yang ada saat ini juga pemerintah. Pasalnya, semakin tua umurnya, penurunan produksi semakin cepat. Dengan demikian diperlukan upaya berlebih untuk bisa mempertahankan produksi. Terutama, pemerintah yang masih menggunakan produksi minyak dan gas sebagai asumsi makro dalam APBN.

ASUMSI LIFTING

Berdasarkan data penyusunan Kerangka Ekonomi Makro dan Pokok-Pokok Kebijakan Fiskal 2018 serta Kerangka Anggaran Jangka Menengah 2018-2022, Menteri ESDM Ignasius Jonan menyampaikan masukan kepada Menteri Keuangan Sri Mulyati. 

     Dalam usulan tertanggal 14 Februari 2017, asumsi lifting migas dibuat dua versi yakni moderat dan optimistis. Untuk asumsi moderat, pada 2018 target lifting minyak sebesar 771.000 bph dan gas 1,19 juta barel setara minyak per hari (boepd).  Asumsi minyak pada 2019 turun menjadi 722.000 bph dan gas justru naik menjadi 1,21 juta boepd.

Pada 2020, asumsi moderat lifting minyak menyentuh 695.000 bph dan gas 1,19 juta boepd. Asumsi lifting minyak terus turun pada 2021 dan 2022 dengan angka 651.000 bph dan 589.000 bph scara berturut-lurut. Untuk cost recovery, asumsi awalnya, pada 2019 menyentuh US$ 12,49 miliar, pada 2020 sebesar US$12,09 miliar, pada 2021 US$ 12/14 miliar, dan menjadi US$ 12,18 miliar pada 2022.

Asumsi tersebut lebih rendah targetnya melalui upaya optimalisasi. Cost recovery pada 2019 US$ 10,82 miliar, pada 2020 sebesar US$ 10,28 miliar, pada 2021 sebesar US$ 9,76 miliar dan US$ 9,28 miliar pada 2022. Pemerintah menginginkan agar produksi minyak dan gas bisa tetap terjaga bahkan naik. Namun, dari-sisi pengembalian biaya operasi diharapkan bisa terus turun.

“Tentunya teknik-teknik tersebut memerlukan biaya lagi, dan umumnya rasio penambahan produksi terhadap nilai investasi akan cenderung tinggi apabila dibandingkan dengan lapangan-lapangan yang umumya masih lebih muda," katanya.

Wakil Kepala SKK Migas Sukandar mengatakan bahwa saat ini terdapat 86 wilayah kerja produksi dengan satu di antaranya wilayah kerja yang menggunakan kontrak gross split sehingga dampaknya terhadap pengurangan cost recovery belum terlihat di tahun depan.

Berdasarkan data pada Agustus 2017, cost recovery yang terealisasi US$ 7,22 miliar dari target US$ 10,4 miliar sepanjang tahun ini. Namun, diperkirakan realisasinya akan melampaui target yakni menjadi US$ 10,7 miliar. Sebelumnya disebutkan potensi penambahan cost recovery di akhir tahun karena biasanya belanja modal bertambah menjelang akhir tahun.

Dia menyebut, pengurangan cost recovery sulit direalisasikan karena dari data tercatat berapa pun pagu yang ditetapkan realisasinya selalu meleset karena banyaknya lapangan atau sumur tua yang membutuhkan biaya lebih besar agar bisa menghasilkan minyak atau gas. Terlebih, saat ini kegiatan pengeboran di lapangan lebih mudah menghasilkan air daripada menghasilkan minyak sehingga membutuhkan biaya lebih agar target produksi bisa tercapai.

“Semakin hari produksi ini malah air bukan minyak. Semakin hari minyak semakin dikit,” katanya.

Pemerintah sebagai pemilik ladang, memiliki porsi lebih besar dalam bagi hasil dan memiliki kewenangan untuk menetapkan arah pengusahaan hulu migas. Tentunya pemerintah menginginkan kegiatan hulu migas baik dari lapangan tua maupun lapangan baru agar bisa memberikan manfaat sebesar-besarnya.

Manfaatnya pun pemerintah sendiri yang menentukan. Bisa berupa penerimaan negara yang besar atau efek berganda yang selama ini selalu disuarakan bahwa migas bukan komoditas, tetapi pemantik penumbuhan ekonomi.

Bisnis Indonesia, Page-28, Tuesday, Sept 26, 2017