Waiting for a Command From the Presidential Palace

    The dynamics of the debate on the formation of holding State-Owned Enterprises (SOEs) of the oil and gas sector entered a new phase. This happened after the Extraordinary General Shareholders Meeting (RUPSLB) of PT Perusahaan Gas as a holding member of State-owned oil and gas company, agreed to PT. Pertamina Gas (PGAS) entered as a holding member.

    The government is targeting the formation of state-owned oil and gas enterprises, especially the change in PGN status to become one of Pertamina's subsidiaries, in the next 2 months. As usual, the SOE Ministry claims, the holding formation aims for SOEs and subsidiaries to be more efficient and competitive.

    The certainty of holding a state-owned oil and gas company is still waiting for the legal basis in the form of government regulation approved by President Joko Widodo. After the legal provisions are established, Pertamina as the holding leader will conduct a general meeting of shareholders (GMS).

    Based on the previous record, one of the crucial points in EGMS PGAS is that 77.8% of shareholders agree that the company is a member of the holding company of BUMN oil and gas. That is, in principle shareholders agree PGAS will become a subsidiary of Penamjna and release the status of the company.

    In the EGM also there is no inauguration of PGAS's share taking by Pertamina. The reason, it requires legal protection of the Government Regulation Holding BUMN Migas, followed by the AGM Pertamina as the holding company.

    As is known, the establishment of a number of state-owned companies have actually started since several years ago. After holding state-owned cement and manure-owned enterprises, the SOE Ministry is now planning to establish other holding companies including oil and gas and mining companies.

    The presence of Government Regulation No.72 / 2016 provides another legal umbrella for holding formation. The regulation, at least underscoring three things: to reinforce the implementation of state-owned holding companies, to increase government control over state-owned holding companies, and not to regulate the privatization of state-owned enterprises.

    SOE Minister Rini Soemarno said that through Government Regulation no. 72/2016, government supervision of the holding subsidiary of SOE is not lost. Due to the change of directors and commissioners as well as changes to the articles of association must remain under the supervision of the Ministry of SOEs.

    Rini states, as ultimate shareholders the government is obliged to maintain the continuity of the subsidiary as a development agent and a profit maker. The formation of holding aims for the subsidiary pertamina can be sustainable and efficient.
   
    It is legitimate if the government encourages PGN to become a subsidiary of Pertamina on the grounds of efficiency and business continuity. With 100% ownership in the government, Pertamina is very eligible to become the holding company of oil and gas.

GATHERING GOVERNANCE

    The state-owned oil and gas company BUMN, particularly the gas business line, is also claimed to refine gas governance to provide efficiency to gas users. because Pertamina also has a gas business that is intersecting with PGN.

    PGN can take over Pertamina Gas (Pertagas), whereas Pertamina can take over a subsidiary of PGN, PT Saka Energia Indonesia, which owns upstream oil and gas business line. The government has also formed the Implementation Team of Holding BUMN Migas.

Nicke Widyawati

     Nicke Widyawati, Human Resources Director of PT Pertamina as well as Head of Implementation Team of Holding of BUMN Migas, said that there are five sub-elements that will detail further scheme of formation of holding of BUMN oil and gas.

    First, Mission Vision Team tasked to map the structure of Holding BUMN Migas and subholding. Second, the Operations Team to map business process mechanisms between companies within the holding.

    Third, the Transaction Team explaining the integration of PGAS and Pertamina. One of them is the transfer scheme of Pertagas, a subsidiary of Pertamina, to PGAS.

"One of the tasks of the Transaction Team is to create a scheme on how to integrate Pertagas into PGN. What kind of shape, how much value, how the planned capital expenditure / capital spending in the future that is integrated. "

    Fourth, Communication Team and fifth, the HR Team to make HR management from all companies and subsidiaries involved in holding can work more optimally.

"Can not give detail information about the progress of the fifth subtimes. The clear target is the end of March 2018 is complete, "said Nicke Widyawati.

     The stormy news of holding state-owned oil and gas sector should be able to answer the questions of industry players and the public. Is it true that PGN's joining Pertamina will make better gas governance affecting cheaper gas prices? Is it very urgent PGN to become a subsidiary of Pertamina?

 
    Preparation for improved gas trading management has been submitted by President Director of Perusahaan Gas Negara (PGN) Jobi Triananda Hasjim. According to him, after the integration with Pertamina Gas (Pertagas), the company's expansion space will become easier.

    And again, the number of PGN networks could grow to about 10,000 kilometers (km). The length of PGN Network after integration with Pertagas was calculated by looking at the current position of PGN network about 7,500 km, while for the subsidiary of PT Pertamina (Persero) it is about 3,000 km.

"Later when it is integrated with Pertagas, we can work together for the Duri-Dumai network more simply. Because the transmission and distribution network is integrated, "he said.

NOT YET NEEDED

    Separately, an energy observer from Gadjah Mada University (UCM) Fahmi Radi said there is no immediate urgency for the government and the parties to form a holding of oil and gas SOEs. The current requirement is the establishment of a state-owned mine to take over Freeport shares.

    According to him, the state-owned oil and gas BUMN holding scheme, Asset Participation (inbreng) is not appropriate because the government forced PGN to join Pertamina. In fact, the two companies are two different business entities that should not be arbitrary.

"As long as the Government Regulation has not been issued yet, it can still change," he said.

    Fahmi argues that the government should use a bottom up approach that begins by combining similar subsidiaries such as PGN and Pertagas before they enter the holding. PGN and Pertagas often compete to make in-efficiency in building pipelines.

    Holding, he argues, is a necessity when PGN and Pertagas infrastructure can be integrated. If the integration of infrastructure runs sooner or later it will take shape. The holding protection may also be a new company so that PGN and Pertamina do not feel superior.

"If the Asset Investment Scheme (inbreng), Pertagas subsidiary Pertamina more special than PGN because PGN can not refuse and it can be a problem so there is no need to hurry," he added.

    Fahmi said, the government should learn from the process of forming the holding of Cement Indonesia. Holding the state-owned cement takes years to match the vision, culture and other internal factors before it can expand.

    According to him, with the process that goes so far, it is very difficult to avoid perceptions that saw Pertamina really want to take over PGN. Because it has been since a few years ago Pertamina really wanted to take PGN.

"Holding is indeed making Pertamina assets increased and then can seek debt. However, it is too naive if the holding is only to find debt, "he added.

    Fahmi continued, the integration of gas infrastructure owned by PGN and Pertagas can become one of the entry entries of BUMN oil and gas. The reason, President Jokowi since last year has asked to reduce gas prices.

    As is known, through Presidential Regulation No.40 / 2016 on Gas Pricing, the government regulates the industrial gas price of US $ 6 per MMBtu. The price is an economic figure for industry players, especially fertilizer, petrochemical, oleochemical, steel, ceramic, glass and gloves industries.

    Unfortunately, the price determination is still difficult teralisasi because of various obstacles. Currently industry players enjoy gas in kisarasan above US $ 6 per MMBtu so that demand for gas price decline continues to strengthen.

    Chairman of the Forum of Natural Gas User Industry (FIPGB) Achmad Safiun said that the enlargement of business scale after the formation of holding company will make PT Pertamina (Persero) become the holding leader.

    Meanwhile, PT Perusahaan Gas Negara (Persero) Tbk. and PT Pertamina Gas (Pertagas) as subholding concentrate on internal fixing first.

"We do not expect much, bigger will be more complicated," he explained.

    He said the gas issue for the industry could only be solved if the President ordered his staff to comply with the Presidential Regulation set since 2016. Encouraging the gas industry to be more effective becomes the government's goal while holding may be one way.

    Determination of holding form of BUMN oil and gas currently has been in the Presidential Palace. The establishment of state-owned oil and gas holding does not automatically reduce the price of gas because it takes time to fix the internal. On the other hand, allowing government milk companies to compete with each other and inefficiencies are also inappropriate.

IN INDONESIA

Menunggu Perintah Dari Istana Presiden

    Dinamika perdebatan pembentukan holding Badan Usaha Milik Negara (BUMN) sektor minyak dan gas memasuki babak baru. Hal itu terjadi setelah Rapat Umum Pemegang Saham Luar Biasa (RUPSLB) PT Perusahan Gas sebagai anggota holding BUMN migas Negara Tbk., sepakat agar PT. Pertamina Gas (PGAS) masuk sebagai anggota holding.

    Pemerintah menargetkan pembentukan holding BUMN migas khususnya perubahan status PGN menjadi salah satu anak usaha Pertamina selesai dalam 2 bulan ke depan. Seperti biasa, Kementerian BUMN mengklaim, pembentukan holding bertujuan agar BUMN dan anak usaha lebih efisien serta kompetitif.

    Kepastian pembentukan holding BUMN migas masih menunggu landasan hukum berupa peraturan pemerintah yang disetujui Presiden Joko Widodo. Setelah ketetapan hukum ditetapkan, Pertamina selaku pemimpin holding akan melakukan rapat umum pemegang saham (RUPS).

    Berdasarkan catatan sebelumnya, salah satu poin krusial pada RUPSLB PGAS adalah sebanyak 77,8% pemegang saham setuju agar perusahaan menjadi anggota induk usaha BUMN migas. Artinya, secara prinsip pemegang saham setuju PGAS akan menjadi anak usaha Penamjna dan melepaskan status perseroan.

    Dalam RUPSLB tersebut juga tidak ada peresmian pengambilan saham PGAS oleh Pertamina. Pasalnya, hal itu membutuhkan perlindungan hukum Peraturan Pemerintah Holding BUMN Migas, yang dilanjutkan dengan RUPS Pertamina sebagai induk usaha.

    Seperti diketahui, pembentukan holding sejumlah BUMN sebenarnya telah dimulai sejak beberapa tahun lalu. Setelah holding BUMN semen dan BUMN pupuk, kini Kementerian BUMN beurpaya untuk membentuk holding lain termasuk BUMN migas dan tambang.

Kehadiran Peraturan Pemerintah No.72/2016 memberikan payung hukum lainnya untuk pembentukan holding. Peraturan tersebut, sedikitnya menggaris bawahi tiga hal yakni mempertegas pelaksanaan holding BUMN, meningkatkan kontrol pemerintah terhadap perusahaan holding BUMN, dan tidak mengatur privatisasi BUMN.

    Menteri BUMN Rini Soemarno mengatakan bahwa melalui Peraturan Pemerintah No. 72/2016, pengawasan pemerintah terhadap anak usaha holding BUMN tidak hilang. Disebabkan pergantian direksi dan komisaris serta perubahan anggaran dasar harus tetap di bawah pengawasan Kementerian BUMN.

    Rini menyatakan, sebagai ultimate shareholders pemerintah berkewajiban untuk menjaga kelangsungan anak usaha itu sebagai agen pembangunan maupun pencetak laba. Pembentukan holding bertujuan agar anak usaha pertamina dapat sustain dan efisien.

    Sah-sah saja jika pemerintah mendorong PGN untuk menjadi anak usaha Pertamina dengan alasan efisiensi dan kelangsungan usaha. Dengan 100% kepemilikan berada pada pemerintah, Pertamina sangat layak untuk menjadi induk holding migas.

MERAPIKAN TATA KELOLA

    Holding BUMN migas khususnya lini bisnis gas juga diklaim bertujuan merapikan kembali tata kelola gas untuk memberikan efisiensi kepada pengguna gas. karena Pertamina juga memiliki usaha gas yang beririsan dengan PGN.

    PGN dapat mengambil alih Pertamina Gas (Pertagas), sebaliknya Pertamina dapat mengambil alih anak usaha PGN, PT Saka Energia Indonesia yang memiliki lini bisnis hulu migas. Pemerintah pun telah membentuk Tim Implementasi Holding BUMN Migas.

    Nicke Widyawati, Direktur SDM PT Pertamina sekaligus Kepala Tim Implementasi Holding BUMN Migas, mengatakan bahwa terdapat lima subtim yang akan mendetailkan lebih lanjut skema pembentukan holding BUMN migas.

    Pertama, Tim Visi Misi yang bertugas memetakan struktur Holding BUMN Migas dan subholding. Kedua, Tim Operasi untuk membuat peta mekanisme proses bisnis antara perusahaan di dalam holding.

    Ketiga, Tim Transaksi yang menjelaskan integrasi PGAS dan Pertamina. Salah satunya ialah skema pengalihan Pertagas, anak usaha Pertamina, kepada PGAS.

“Salah satu tugas Tim Transaksi ialah membuat skema bagaimana integrasi Pertagas ke PGN. Bentuknya seperti apa, nilainya berapa, bagaimana rencana capital expenditure/belanja modal ke depan yang terintegrasi."

    Keempat, Tim Komunikasi dan kelima, Tim SDM untuk membuat pengelolaan SDM dari seluruh perusahaan dan anak usaha yang terlibat dalam holding dapat bekerja lebih optimal.

“Belum bisa beri informasi detail progres kelima subtim tadi. Yang jelas target ialah akhir Maret 2018 selesai,” kata Nicke Widyawati.

    Kabar Ramainya pemberitaan holding BUMN sektor migas seharusnya bisa menjawab pertanyaan pelaku industri dan masyarakat. Benarkah bergabungnya PGN ke Pertamina akan membuat tata kelola gas menjadi lebih baik yang berdampak pada harga gas yang lebih murah? Apakah sudah sangat urgent PGN menjadi anak usaha Pertamina?

    Persiapan untuk pengelolaan tata niaga gas yang lebih baik sudah disampaikan oleh Direktur Utama Perusahaan Gas Negara (PGN) Jobi Triananda Hasjim. Menurutnya, setelah integrasi dengan Pertamina Gas (Pertagas), ruang ekspansi perseroan akan semakin lebih mudah.

    Dan lagi, jumlah jaringan PGN bisa bertambah menjadi sekitar 10.000 kilometer (km). Panjang Jaringan PGN setelah integrasi dengan Pertagas itu dihitung dengan melihat posisi jaringan PGN saat ini sekitar 7.500 km, sedangkan untuk anak usaha PT Pertamina (Persero) itu sekitar 3.000 km.

“Nanti kalau sudah integrasi dengan Pertagas, kami bisa kerja sama untuk jaringan Duri-Dumai dengan lebih sederhana. Karena jaringan transmisi dan distribusi sudah terintegrasi,” ujarnya.

BELUM PERLU

    Secara terpisah, pengamat energi dari Universitas Gadjah Mada (UCM) Fahmi Radi mengatakan, tidak ada urgensi untuk sesegera mungkin bagi pemerintah dan para pihak membentuk holding BUMN migas.  Kebutuhan saat ini ialah pembentukan holding BUMN tambang untuk mengambil alih saham Freeport.

    Menurutnya, skema holding BUMN migas yang diusulkan pemerintah yakni Penyertaan Aset (inbreng) kurang tepat karena pemerintah memaksa PGN untuk bergabung ke Pertamina. Padahal, kedua perusahaan merupakan dua entitas bisnis yang berbeda sehingga tidak boleh sembarangan.

“Selama Peraturan Pemerintah belum keluar belum sah, jadi putusan itu masih bisa berubah,” ujarnya.

    Fahmi berpendapat, pemerintah seharusnya menggunakan pendekatan bottom up yang diawali dengan menggabungkan anak usaha yang sejenis seperti PGN dan Pertagas sebelum mereka masuk ke holding. PGN dan Pertagas sering bersaing sehingga membuat in-efisiensi dalam membangun jaringan pipa.

    Holding, menurutnya, merupakan keniscyaaan ketika infrastruktur PGN dan Pertagas bisa terintegrasi. Jika integrasi infrastruktur berjalan holding cepat atau lambat akan terbentuk. Perlindungan holding itu bisa juga suatu perusahaan baru sehingga PGN maupun Pertamina tidak merasa lebih superior.

“Kalau skema Penyertaan Aset (inbreng), Pertagas anak usaha Pertamina lebih istimewa dibandingkan dengan PGN karena PGN tidak bisa menolak dan itu bisa menjadi masalah sehingga tidak perlu terburu-buru,” tambahnya.

    Fahmi menuturkan, pemerintah seharusnya belajar dari proses pembentukan holding Semen Indonesia. Holding BUMN semen tersebut membutuhkan waktu bertahun-tahun untuk bisa menyamakan visi, budaya dan faktor internal lainnya sebelum bisa melakukan ekspansi.

    Menurutnya, dengan proses yang berjalan sejauh ini, sangat sulit menghidari persepsi yang melihat Pertamina sangat ingin mengambil alih PGN. Karena sudah sejak beberapa tahun lalu Pertamina memang sangat ingin mengambil PGN.

“Holding memang membuat aset Pertamina bertambah kemudian bisa mencari utang. Namun, terlalu naif kalau holding hanya untuk cari utang," tambahnya.

    Fahmi melanjutkan, integrasi infrastruktur gas milik PGN dan Pertagas dapat menjadi salah satu pintu masuk holding BUMN migas. Pasalnya, Presiden Jokowi sejak tahun lalu telah meminta untuk menurunkan harga gas.

    Seperti diketahui, melalui Peraturan Presiden No.40/2016 tentang Penetapan Harga Gas Bumi, pemerintah mengatur harga gas industri sebesar US$6 per MMBtu. Harga tersebut menjadi angka ekonomis bagi pelaku industri khususnya industri pupuk, petrokimia, oleokimia, baja, keramik, kaca, dan sarung tangan.

    Sayangnya, ketetapan harga tersebut masih sulit teralisasi kerena berbagai kendala. Saat ini pelaku industri menikmati gas pada kisarasan di atas US$6 per MMBtu sehingga permintaan penurunan harga gas terus menguat.

    Ketua Forum Industri Pengguna Gas Bumi (FIPGB) Achmad Safiun mengatakan bahwa membesarnya skala bisnis setelah pembentukan induk usaha akan membuat PT Pertamina (Persero) menjadi pemimpin holding.

    Adapun, PT Perusahaan Gas Negara (Persero) Tbk. dan PT Pertamina Gas (Pertagas) sebagai subholding berkonsentrasi membenahi internalnya terlebih dahulu.

“Kami tidak berharap banyak, lebih besar jadinya lebih rumit,” paparnya.

    Dia mengatakan, persoalan gas untuk industri hanya dapat diselesaikan jika Presiden memerintahkan jajarannya mematuhi Peraturan Presiden yang sudah ditetapkan sejak 2016. Mendorong industri gas agar lebih efektif menjadi tujuan pemerintah sedangkan holding bisa saja menjadi salah satu caranya.

    Penetapan pembentukan holding BUMN migas saat ini telah berada di Istana Presiden. Pembentukan holding BUMN migas tentu tidak otomatis menurunkan harga gas karena butuh waktu untuk membenahi internal. Pada sisi lain, membiarkanya perusahaan milk pemerintah saling bersaing dan inefisiensi juga tidak tepat.

Bisnis Indonesia, Page-10, Tuesday, Jan 30, 2018

Indonesia will Supply LNG to Pakistan

    The governments of Indonesia and Pakistan have agreed to strengthen energy and trade partnerships. As conveyed in a press statement from the Indonesian Ministry of Foreign Affairs received in Jakarta, the agreement was reached in the state visit of President Joko Widodo to Pakistan on 26-27 January 2018 which is themed and focused on improving economic cooperation, especially in energy and trade.

    At the visit of President Jokowi, the heads of governments of both countries witnessed the signing of energy sector cooperation agreement and amendment protocol preferential trade agreement (PTA).

    During the visit, the two sides also signed a memorandum of understanding (MoU) on cooperation diplomatic training and MoU on trade promotion cooperation. Through an energy agreement, Indonesia will supply LNG to Pakistan to support Pakistan's energy security.

    In addition, PT Pertamina will follow up the agreement with its partner, Pakistan LNG Limited (PLL) and Pakistan State Oil Company Limited (PSOCL). Furthermore, the economic relations of both countries are also reinforced by a memorandum of understanding same trade promotion to increase bilateral trade flows.
   
     During the visit, the two sides also signed a memorandum of understanding (MoU) on cooperation diplomatic training and MoU on trade promotion cooperation. Through energy agreement, Indonesia will supply LNG to Pakistan to support Pakistan's energy security.
 
    In addition to the main series of activities of the President of the Republic of Indonesia, there has also been a business forum attended by more than 100 Indonesian and Pakistani businessmen. The forum produced a memorandum of understanding (MoU) of US $ 115 million.

IN INDONESIA

Indonesia akan Pasok LNG ke Pakistan

    Pemerintah Indonesia dan Pakistan sepakat untuk mengukuhkan kemitraan di bidang energi dan perdagangan. Seperti disampaikan dalam keterangan pers dari Kementerian Luar Negeri Indonesia yang diterima di Jakarta, kesepakatan itu dicapai
dalam kunjungan kenegaraan Presiden Joko Widodo ke Pakistan pada 26-27 Januari 2018 yang bertema dan berfokus pada peningkatan kerja sama ekonomi, khususnya bidang energi dan perdagangan.

    Pada kunjungan Presiden Jokowi tersebut, kepala pemerintahan kedua negara menyaksikan penandatanganan perjanjian kerja sama sektor energi dan amendemen protokol preferential trade agreement (PTA).

    Dalam kunjungan tersebut, kedua pihak juga menandatangani nota kesepahaman (MoU) kerja Sama pelatihan diplomatik dan MoU kerja sama promosi perdagangan. Melalui perjanjian bidang energi, Indonesia akan memasok LNG ke Pakistan untuk mendukung ketahanan energi Pakistan.

    Selain itu, PT Pertamina akan menindaklanjuti perjanjian tersebut dengan mitranya, Pakistan LNG Limited (PLL) dan Pakistan State Oil Company Limited (PSOCL). Selanjutnya, hubungan ekonomi kedua negara juga diperkukuh dengan nota kesepahaman kerja
sama promosi perdagangan untuk meningkatkan arus perdagangan bilateral.

    Dalam kunjungan kenegaraan itu, Presiden Jokowi pun berkesempatan menyampaikan pidato pada Joint Sitting Parlemen Pakistan pertemuan téte-a-téte dan bilateral dengan Presiden Pakistan, jamuan makan malam kenegaraan oleh Presiden Pakistan, dan pertemuan téte-a-téte dan bilateral dengan Perdana Menteri Pakistan.

    Selain rangkaian utama kegiatan Presiden Republik Indonesia, telah dilaksanakan pula forum bisnis yang diikuti lebih dari 100 pengusaha Indonesia dan Pakistan. Forum tersebut menghasilkan nota kesepahaman kerja sama senilai US$115 juta.

Media Indonesia, Page-17, Monday, Jan 29, 2018

February, Government Auction 25-40 Oil and Gas Block

    The government plans to auction off 25-40 Working Areas (WK) of Oil and Gas (oil and gas) starting mid-February. To promote the auction and to socialize the gross split scheme to be applied in the oil and gas contract, the government conducts roadshows to a number of countries.

"We are targeting the February 17-18 auction, amounting to 25-40 oil and gas fields. Some are coming from the 2016 and 2017 remaining auctions, also from 2015. Of the voluntarily returned and terminated blocks, "said Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar.

    Starting in January 2017, the government changed the scheme of production sharing contract (PSC) on new oil and gas contracts. If previously used is a cost recovery scheme then it is applied in the new rules of gross split scheme.

    According to Arcandra Tahar, it will evaluate WK to be quite feasible to be auctioned.

"So, the number of WK is still the range, but if 25 WK I have confidence can," he stressed.

    Asked whether the possibility of such auction is interested investors, Arcandra admitted his side can not be sure of it.

"Whether it will be sold or not, there is no guarantee. But we hope this is the momentum. Some companies have also come to the government to express their interest. It just needs enlightenment about the gross split, "he said.

    Therefore, the gross split scheme is a challenge for the government to socialize. To promote the auction and gross split system, ESDM Minister Ignatius Jonan traveled to several countries, while he will visit the United States (US). He added that the government also ensures the company that follows the auction will be a credible company to avoid the 'stealth' company.

"We will check, especially regarding three things, namely capital, technology, and human resources. This is to avoid signals that the auctioned WK will be in demand by the company is not credible, "he said.

 Repsol Exploracion SA

    Arcandra Tahar also revealed, five WKs that have been auctioned before will be announced later this month. The five WKs are the Andaman I Block of interest to Mubadala Petroleum (SE Asia) Ltd, the Andaman II Block is interested in Repsol Exploracion SA, EMP Tbk and Premier Oil Far East Ltd Consortium and Mubadala Petroleum (SE Asia) & Kris Energy Others, the Peacock- Lampung is interested in PT Tansri Madjid Energy, Block Pekawai interested PT Saka Energy Indonesia, and West Yamdena Block interested PT
Saka Energi Indonesia.

    To support the investment, according to the Deputy Minister of Energy and Mineral Resources, the government also made a number of improvements, especially the issue of licensing and security stability.

Become an Indicator

    Meanwhile, Executive Director of ReforMiner Institute Komaidi Notonegoro considered that the gross split scheme is very good, because there is no longer cost recovery cost for the country. In addition, the state can further simplify the projected amount of revenue of each oil and gas block, because all costs are borne by the contractor. Komaidi reminded, gross split is a new concept or scheme to replace the concept that has been applied for years. That is why incentives should be made as attractive to contractors as possible.

"If the incentives are not interested contractors, the oil and gas field is not developed," he said.

    The government also needs to see the provisions imposed by other countries as a comparison. However, Komaidi sees there is a tremendous serious effort from the government to create a favorable investment climate. Evidently some input from the contractor is accommodated. For example, when the contractor objected to the tax, the ESDM Ministry immediately coordinated with the Ministry of Finance.

    With regard to the auction of oil and gas blocks in mid-February, Komaidi said, it could be one of the indicators whether the existing gross split is good enough and attractive to investors. Beginning in January 2017 Beleid gross split is included in Regulation of the Minister of Energy and Mineral Resources. 8 of 2017 on the Gross Split Contract issued in January 2017. The Ministerial Regulation was subsequently revised through Minister of Energy and Mineral Resources Regulation No. 52 of 2017 which was issued in September last year.

    The Government subsequently issued Government Regulation (PP) No. 53 of 2017 on Tax Treatment on Cooperation Contracts of Gross Sharing Scheme (Gross Split), at the end of last year. Along with the issuance of Government Regulation, the government decided to close the oil and gas block auction on December 29, 2017.

    In the gross split scheme, the cost component is no longer a burden to the state, as in the cost recovery scheme, but rather the burden of investors or contractors. Thus, the country is free from various risks and has more certainty.

    For example, when using a cost recovery scheme, profit share for the country compared to investors is 85:15 for oil and 7 0:30 for gas. However, the scheme incorporates cost components that the state should replace. Profit sharing is only calculated after the cost of oil and gas projects is divided between the two countries and investors.

    Based on Government Regulation No. 53/2017, the government provides a number of fiscal incentives in the gross split scheme, among which oil and gas companies are given a 10-year tax loss carry forward and indirect tax exemption.

    Article 18 Paragraph 2 PP 53/2017 states, the taxable income for the contractor is calculated on the basis of net income less compensation for losses. Other incentives are provided for in Articles 25-27. In Article 25 mentioned, there are fiscal facilities that can be obtained by the contractor at the exploration and exploitation stage until the start of production.

    First, the exemption of import duty on imported goods (import duties) used during the operation. Second, the reduction of the land and building tax (PBB) is 100% of the tax payable. Subsequent fiscal incentives are the absence of value added tax levies (VAT) or sales tax on luxury goods (PPnBM) payable in connection with the acquisition of taxable goods or services, import of taxable goods, the utilization of intangible taxable goods from outside the customs area within the area customs and / or utilization of taxable services from outside customs areas within the customs areas used in the framework of petroleum operations.

    The last fiscal incentive is not the collection of income tax (PPh) of Article 22 on the import of goods that have obtained facilities of exemption from levies. Government Regulation 53/2017 also states, operating costs covering exploration, exploitation and other categories that have been issued can be calculated as a deduction Taxable income.

    According to the records, the government has once again extended the auction of the first phase of oil and gas blocks in 2017. The oil and gas block auction continues to be postponed due to awaiting the issuance of a Government Regulation governing the taxation of gross split oil and gas contracts.

IN INDONESIA

Februari, Pemerintah Lelang 25-40 Blok Migas

Pemerintah berencana melelang 25-40 Wilayah Kerja (WK) Minyak dan Gas bumi (migas) mulai pertengahan Februari mendatang. Untuk mempromosikan lelang dan menyosialisasikan skema bagi hasil kotor (gross split) yang akan diterapkan dalam kontrak migas tersebut, pemerintah melakukan lawatan (roadshow) ke sejumlah negara.

“Kami targetkan lelang tanggal 17-18 Februari, jumlahnya berkisar 25-40 lapangan migas. Ada yang berasal dari lelang tahun 2016 dan 2017 yang masih tersisa, juga dari 2015. Dari blok yang dikembalikan secara sukarela maupun yang terminasi,” kata Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar.

    Mulai Januari 2017, pemerintah mengubah skema kontrak bagi hasil (production sharing contract/ PSC) pada kontrak-kontrak baru migas. Jika yang digunakan sebelumnya adalah skema biaya yang dapat dikembalikan (cost recovery) maka yang diterapkan dalam aturan baru yaitu skema gross split.

    Menurut Arcandra Tahar, pihaknya akan mengevaluasi WK agar cukup layak untuk dilelang.

“Jadi, jumlah WK masih kisaran, tapi kalau 25 WK saya punya keyakinan bisa,” tegas dia.

    Saat ditanya apakah kemungkinan lelang tersebut diminati investor, Arcandra mengaku pihaknya tidak bisa memastikan hal tersebut.

“Apakah akan laku atau tidak, tidak ada jaminan. Tapi kami berharap ini momentumnya. Beberapa perusahaan juga sudah datang ke pemerintah untuk menyatakan minatnya. Hanya saja butuh pencerahan tentang gross split,” papar dia.

    Karena itu, skema gross split menjadi tantangan tersendiri bagi pemerintah untuk menyosialisasikan. Untuk mempromosikan lelang dan sistem gross split, Menteri ESDM Ignasius Jonan berkunjung ke sejumlah negara, sedangkan dirinya akan mengunjungi Amerika Serikat (AS). Dia menambahkan, pemerintah juga memastikan perusahaan yang mengikuti lelang nantinya merupakan perusahaan yang kredibel untuk menghindari perusahaan ‘siluman’.

“Kami akan cek, terutama menyangkut tiga hal, yakni permodalan, teknologi, dan SDM. Ini untuk menghindari sinyalemen bahwa WK yang dilelang akan diminati oleh perusahaan tidak kredibel,” kata dia.

    Arcandra Tahar juga mengungkapkan, lima WK yang sudah dilelang sebelumnya akan diumumkan akhir bulan ini. Kelima WK tersebut adalah Blok Andaman I yang diminati Mubadala Petroleum (SE Asia) Ltd, Blok Andaman II diminati Repsol Exploracion SA, EMP Tbk, dan Konsorsium Premier Oil Far East Ltd serta Mubadala Petroleum (SE Asia) & Kris Energy Lainnya yaitu Blok Merak-Lampung yang diminati PT Tansri Madjid Energy, Blok Pekawai diminati PT Saka Energi Indonesia, dan Blok West Yamdena diminati PT
Saka Energi Indonesia.

    Untuk menunjang investasi, menurut Wakil Menteri ESDM, pemerintah juga melakukan sejumlah perbaikan, terutama masalah perizinan dan stabilitas keamanan.

Menjadi Indikator

    Sementara itu, Direktur Eksekutif ReforMiner Institute Komaidi Notonegoro menilai bahwa skema gross split sangat bagus, karena tidak ada lagi beban cost recovery bagi negara. Selain itu, negara bisa lebih menyederhanakan proyeksi jumlah penerimaan dari setiap blok migas, karena segala biaya ditanggung oleh kontraktor. Komaidi mengingatkan, gross split merupakan konsep atau skema baru untuk menggantikan konsep yang sudah bertahun-tahun diberlakukan. Itu sebabnya, insentif harus dibuat semenarik mungkin bagi kontraktor.

“Kalau insentif yang ada tidak diminati kontraktor maka lapangan migas itu malah tidak dikembangkan,” tutur dia.

    Pemerintah pun perlu melihat ketentuan yang diberlakukan negara lain sebagai komparasi. Namun, Komaidi melihat terdapat upaya serius yang luar biasa dari pemerintah untuk menciptakan iklim investasi yang baik. Terbukti beberapa masukan dari kontraktor diakomodasi. Contohnya saat kontraktor keberatan mengenai pajak, Kementerian ESDM segera berkoordinasi dengan Kementerian Keuangan.

    Berkenaan dengan akan dilakukannya lelang blok migas pada pertengahan Februari mendatang, Komaidi mengemukakan, hal itu bisa dijadikan salah satu indikator apakah ketentuan gross split yang ada saat ini sudah cukup baik dan menarik bagi investor.

     Mulai Januari 2017 Beleid gross split ada dalam Peraturan Menteri ESDM No. 8 Tahun 2017 tentang Kontrak Bagi Hasil Kotor (Gross Split) yang dikeluarkan pada Januari 2017. Peraturan Menteri tersebut kemudian direvisi melalui Peraturan Menteri ESDM No 52 Tahun 2017 yang dikaluarkan pada September tahun silam.

    Pemerintah selanjutnya menerbitkan Peraturan Pemerintah (PP) Nomor 53 Tahun 2017 tentang Perlakuan Pajak pada Kontrak Kerja Sama Skema Bagi Hasil Kotor (Gross Split), pada akhir tahun lalu. Bersamaan dengan terbitnya Peraturan Pemerintah tersebut, pemerintah memutuskan untuk menutup lelang blok migas pada 29 Desember 2017.

    Dalam skema gross split, komponen biaya tidak lagi menjadi beban negara, seperti dalam skema cost recovery, melainkan menjadi beban investor atau kontraktor. Dengan demikian, negara terbebas dari berbagai risiko dan lebih memiliki kepastian.

    Sebagai contoh, ketika menggunakan skema cost recovery, bagi hasil untuk negara dibanding investor sebesar 85:15 untuk minyak dan 7 0:30 untuk gas. Namun, skema tersebut memasukkan komponen biaya yang harus diganti negara. Bagi hasil tersebut baru dihitung setelah biaya proyek migas dibagi dua antara negara dan investor.

    Berdasarkan Peraturan Pemerintah nomor 53/2017, pemerintah memberikan sejumlah insentif fiskal dalam skema gross split, di antaranya perusahaan migas memperoleh penangguhan pembayaran pajak penghasilan (tax loss carry forward) selama 10 tahun dan pembebasan pajak-pajak tidak langsung.

    Pasal 18 Ayat 2 PP 53/ 2017 menyatakan, penghasilan kena pajak bagi kontraktor dihitung berdasarkan penghasilan neto dikurangi kompensasi kerugian. Insentif lainnya diatur Pasal 25-27. Dalam Pasal 25 disebutkan, terdapat fasilitas fiskal yang bisa diperoleh kontraktor pada tahap eksplorasi dan eksploitasi sampai mulai produksi.

    Pertama, pembebasan pungutan bea masuk atas impor barang (BM impor) yang digunakan selama kegiatan operasi. Kedua, pengurangan pajak bumi dan bangunan (PBB) sebesar 100% dari pajak terutang. Insentif fiskal selanjutnya adalah tidak adanya pungutan pajak pertambahan nilai (PPN) atau pajak penjualan atas barang mewah (PPnBM) terutang sehubungan dengan perolehan barang atau jasa kena pajak, impor barang kena pajak, pemanfaatan barang kena pajak tidak berwujud dari luar daerah pabean di dalam daerah pabean dan atau pemanfaatan jasa kena pajak dari luar daerah pabean di dalam daerah pabean yang digunakan dalam rangka operasi perminyakan.

    Insentif fiskal yang terakhir yaitu tidak dilakukannya pemungutan pajak penghasilan (PPh) Pasal 22 atas impor barang yang telah memperoleh fasilitas pembebasan dari pungutan BM. Peraturan Pemerintah 53/ 2017 juga menyatakan, biaya operasi yang mencakup kegiatan eksplorasi, eksploitasi, dan kategori lainnya yang telah dikeluarkan dapat diperhitungkan sebagai pengurang penghasilan kena pajak.

    Berdasarkan catatan, sudah kali ketiga pemerintah memperpanjang masa lelang blok migas tahap pertama pada 2017. Lelang blok migas terus ditunda penutupannya karena menunggu diterbitkannya Peraturan Pemerintah yang mengatur perpajakan kontrak migas gross split.

Investor Daily, Page-1, Monday, Jan 29, 2018

Indonesia Sells LNG to Pakistan 15 Million Ton

    Indonesia will sell liquefied natural gas (LNG) to Pakistan with a total volume of about 15 million tons. This is the first time Indonesia is exporting LNG to Pakistan. This LNG sale is marked by the signing of the Inter Government Agreement by the Minister of Energy of Indonesia and Pakistan when President Joko Widodo made a state visit to Pakistan.

    Later, Indonesia will export LNG to Pakistan for 10 years, with an additional option of five years, with a volume of 1.5 million tons per year. Indonesia also hopes to strengthen energy cooperation in the future, such as the possibility of investing Indonesian companies to build LNG regasification facilities and sharing experiences and expertise in the utilization friendly energy, "said President Jokowi, as quoted in the official website of the Cabinet Secretariat.

    Not only to Pakistan, Indonesia will also export LNG to Bangladesh. During his visit to Bangladesh, President Joko Widodo also witnessed the signing of several cooperation agreements, including the signing of a letter of intent (Lol) on the supply of LNG from PT Pertamina (Persero) to Petrobangla. LNG shipments are expected this year.

"Indonesia is ready to support Bangladesh's energy security through the supply of LNG and coal," said the Head of State.
   
    With Bangladesh, Indonesia has previously signed a memorandum of understanding under which LNG is based. The memorandum of understanding states Bangladesh's willingness, readiness and willingness to discuss further the construction of LNG receiving and infrastructure facilities in the country, including possible supply of LNG spot from Indonesia.

    On the other hand, the MoU also affirms Indonesia's willingness to facilitate discussions with Indonesian LNG producers and marketers. In addition to supply LNG to Bangladesh, through this memorandum of understanding is also opened opportunity for Pertamina then build building facilities LNG acceptance.

    In detail, Pertamina can work on the Mooring FSRU project, and offloading infrastructure, sub-sea and onshore gas pipelines to natural gas grids. At the signing of the MoU last year, State Minister for Electricity, Energy and Mineral Resources Nasrul Hamid once said that Bangladesh's energy needs continue to increase every year. LNG imports from Indonesia are expected to overcome LNG deficit in Bangladesh which is estimated to reach 1 million tons per year in 2018 and increase to 11 million tons per year by 2030.

    To overcome this, Bangladesh has also agreed on the construction of two floating shelter and regasification units (FSRUs) with a capacity of 1,000 million cubic feet per day / mmscfd.

"By mid-2018, we expect to obtain the first ever LNG supply in our pipelines. It will continue to grow in the future, "he said.

    Earlier, Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said that Pertamina will contract with Pakistan LNG Limited and Bangladesh Oil and Gas Corporation (Petrobangla). Pertamina will send 1-1,5 MTPA each to Pakistan and Bangladesh. The contract value of LNG is estimated to reach US $ 12 billion.

"The trading value is up to US $ 6 billion for each contract," he said.

    Pertamina targets its gas production to increase every year. In 2018, Pertamina targets gas production to reach 3,069 mmscfd, up 51% from last year's 2,036 mmscfd. While in Aspiration 2025, the national oil and gas company set a gas production target of 5,710.

    Not only from within the country, the gas production target will also be pursued by the company from foreign assets. Detailedly, from the production of 5,710 mmscfd, about 1,480 mmscfd will be sought from abroad and most or equal to 4,230 mmscfd from within the country.

    Currently, the company is aggressively expanding its assets in other countries, such as in Iran, Algeria, and Russia. Then, Pertamina also has an agreement on the supply of LNG from other countries. Pertamina has signed an LNG purchase contract. Pertamina has signed a gas sales agreement (PJBG) with a subsidiary of Chehiere Energy Corpus Christi Liquifaction Liability Company to supply 0.76 million tonnes per year of LNG from 2019, for 20 years.

    Pertamina has also contracted with Cheniere Energy with the same volume but starts in 2018 with a duration of 20 years. Then, Pertamina has contracted with Woodside with a volume of 0.6 million tons per year which can be increased to 1.1 million tons per year. Supply 0.6 million tons per year from 2022-2034 and can be increased to 1.1 million tons per year in 2024-2038. Finally, the company has a head of agreement (HOA) with ExxonMobil to supply 1 million tons per year for 20 years starting from 2025.

IN INDONESIA

Indonesia Jual LNG ke Pakistan 15 Juta Ton

    Indonesia akan menjual gas alam cair (liquefied natural gas/LNG) ke Pakistan dengan total volume sekitar 15 juta ton. Ini kali pertama Indonesia mengekspor LNG ke Pakistan. Penjualan LNG ini ditandai dengan penandatangan Inter Government Agreement oleh Menteri Energi Indonesia dan Pakistan ketika Presiden Joko Widodo melakukan kunjungan kenegaraan ke Pakistan.

    Nantinya, Indonesia akan mengekspor LNG ke Pakistan selama 10 tahun, dengan opsi tambahan lima tahun, dengan volume 1,5 juta ton per tahun. Indonesia juga mengharapkan penguatan kerja sama energi di masa mendatang, seperti kemungkinan investasi perusahaan Indonesia untuk pembangunan fasilitas regasifikasi LNG dan saling berbagi pengalaman dan keahlian dalam pemanfaatan energi yang ramah lingkungan,” kata Presiden Jokowi, sebagaimana dikutip dalam laman resmi Sekretariat Kabinet.

    Tidak hanya ke Pakistan, Indonesia juga akan mengekspor LNG ke Bangladesh. Dalam kunjungannya ke Bangladesh, Presiden Joko Widodo juga turut menyaksikan penandatanganan sejumlah perjanjian kerja sama, termasuk penandatanganan letter of intent (Lol) tentang pasokan LNG dari PT Pertamina (Persero) ke Petrobangla. Pengiriman LNG diharapkan dapat dilakukan tahun ini juga.

“Indonesia siap mendukung ketahanan energi Bangladesh antara lain melalui pasokan LNG dan batubara," kata Kepala Negara.

    Dengan Bangladesh, Indonesia sebelumnya telah meneken nota kesepahaman yang menjadi dasar penjualan LNG ini. Dalam nota kesepahaman itu disebutkan keinginan, kesiapan, dan kesediaan Bangladesh untuk berdiskusi lebih lanjut terkait pembangunan fasilitas penerimaan dan infrastuktur LNG di negaranya, termasuk kemungkinan pasokan LNG spot dari Indonesia.

    Di sisi lain, nota kesepahaman ini juga menegaskan kesediaan Indonesia untuk memfasilitasi diskusi dengan produsen dan pemasar LNG Indonesia. Selain melakukan suplai LNG ke Bangladesh, melalui nota kesepahaman ini dibuka pula kesempatan bagi Pertamina selanjutnya membangun membangun fasilitas penerimaan LNG.

    Rincinya, Pertamina bisa mengerjakan proyek FSRU mooring, dan infrastruktur offloading, sub-sea dan pipa gas onshore ke grid gas alam. Pada saat penandatangan nota kesepahaman tersebut pada tahun lalu, Menteri Negara Listrik, Energi, dan Sumber Daya Mineral Nasrul Hamid pernah mengatakan, kebutuhan energi Bangladesh terus meningkat setiap tahunnya. Impor LNG dari Indonesia diharapkan bisa mengatasi defisit LNG di Bangladesh yang diperkirakan mencapai 1 juta ton per tahun pada 2018 dan meningkat menjadi 11 juta ton per tahun pada 2030.

    Untuk mengatasi hal ini, Bangladesh juga sudah menyepakati pembangunan dua unit penampungan dan regasifikasi terapung (FSRU) dengan kapasitas 1.000 juta kaki kubik per hari/ mmscfd.

“Pada pertengahan 2018, kami berharap bisa memperoleh pasokan LNG pertama kalinya dalam jaringan pipa kami. Ini akan terus bertambah ke depannya,” tuturnya.

    Sebelumnya, Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, Pertamina akan berkontrak dengan Pakistan LNG Limited dan Bangladesh Oil and Gas Corporation (Petrobangla). Pertamina akan mengirim masing-masing 1-1,5 MTPA ke Pakistan dan Bangladesh. Sementara nilai kontrak penjualan LNG ini diperkirakan mencapai US$ 12 miliar.

“Nilai trading up to US$ 6 miliar untuk masing-masing kontrak ,” kata dia.

    Pertamina menargetkan produksi gasnya terus meningkat setiap tahunnya. Pada 2018 ini, Pertamina menargetkan produksi gasnya mencapai 3.069 mmscfd, naik 51% dari realisasi tahun lalu 2.036 mmscfd. Sementara dalam Aspirasi 2025, perusahaan migas nasional  memasang target produksi gas sebesari 5.710.

    Tidak hanya dari dalam negeri, target produksi gas itu juga akan dikejar perseroan dari aset-aset luar negeri. Rincinya, dari produksi 5.710 mmscfd, sekitar 1.480 mmscfd akan diupayakan dari luar negeri dan sebagian besar atau sebesar 4.230 mmscfd dari dalam negeri.

    Saat ini, perseroan sedang agresif menambah asetnya di negara lain, seperti di Iran, Aljazair, dan Rusia. Kemudian, Pertamina juga memiliki kesepakatan pasokan LNG dari negara lain. Pertamina telah meneken kontrak pembelian LNG. Pertamina telah menandatangani perjanjian jual beli gas (PJBG) dengan anak usaha Chehiere Energy yakni Corpus Christi Liquifaction Liability Company untuk memasok 0,76 juta ton per tahun LNG mulai 2019, selama 20 tahun.

    Pertamina juga sudah berkontrak dengan Cheniere Energy dengan volume yang sama namun dimulai pada 2018 dengan durasi 20 tahun. Kemudian, Pertamina telah berkontrak dengan Woodside dengan volume  0,6 juta ton per tahun yang bisa ditingkatkan menjadi 1,1 juta ton per tahun. Pasokan 0,6 juta ton per tahun mulai 2022-2034 dan bisa ditingkatkan menjadi 1,1 juta ton per tahun pada 2024-2038. Terakhir, perseroan memiliki kesepakatan (head of agreement/ HOA) dengan ExxonMobil untuk pasokan sebanyak 1 juta ton per tahun selama 20 tahun mulai 2025.

Investor Daily, Page-9, Monday, Jan 29, 2018

Ministerial Regulation Gross Split Cancel Revised

    The Government canceled the Regulation of the Minister of Energy and Mineral Resources No. 52 of 2017 on the profit-sharing contract (gross split) to provide certainty of indirect tax reimbursement incentives. Nevertheless, the incentive will still be given by the government.

"The (Regulation of Ministers) Gross Split has been evaluated, does not seem to need to be revised," said Deputy Minister of Energy and Mineral Resources Arcandra Tahar.

    

 Arcandra Tahar

   The government previously promised an indirect tax exemption incentive, including in production. However, for this type of tax incentive in the production period, should consider the economic count of oil and gas blocks. If under the economic count, oil and gas companies are entitled to incentives through additional revenue sharing.

    In Government Regulation No. 53 of 2017 on the taxation of gross split contracts, which is clearly defined is no indirect taxation until the first oil production. However, for other incentives, this Government Regulation only states that further provisions on the provision of facilities shall be regulated by a Ministerial Regulation.

    Therefore, the ESDM Ministry was previously considering to amend the Ministerial Regulation 52/2017 to add a clause on incremental incentives for split as compensation of indirect taxes already paid by oil and gas companies.

 However, according to Arcandra this is not required because Government Regulation 53/2017 has provided the legal basis and in the Ministerial Regulation Gross Split there has been a clause on the addition of split.

    The clause referred to in the Regulation of the Minister of Gross Split namely Article 7 Paragraph 1. Exactly, this paragraph states that in the calculation of commercialization of the field or some field does not reach a certain economy, the Minister may assign an additional percentage of profit sharing to the contractor. So the addition of Split instead of the indirect tax payment can use this paragraph.

  

  Marjolijn Wajong

 Previously, Executive Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong said that his side is still waiting for the regulation related to the addition of profit sharing as compensation for the payment of indirect taxes during the production period.

"This is very important and needed by investors so that the economic certainty of a oil and gas project can be more certain and maintained. IPA hopes that ESDM can publish the implementation regulation related to it as soon as possible, "he said.

    In Government Regulation 53/2017 there are seven fiscal incentives granted by the government. In detail, the exemption from import duties on oil and gas operations, Value Added Tax (VAT) and Luxury Value Added Tax (PPnBM) is not collected on the acquisition and utilization of oil and gas products and services and income tax Article 22 is not levied on imports of goods oil and gas operations, 100% reduction in land and building tax (PBB), utilization of joint assets of oil and gas not subject to VAT, operating expenses as deductions of taxable income are extended to 10 years, and indirect head office costs are not subject to VAT.

IN INDONESIA

Peraturan Menteri Gross Split Batal Direvisi

    Pemerintah batal merevisi Peraturan Menteri Energi dan Sumber Daya Mineral No 52 Tahun 2017 tentang kontrak bagi hasil (gross split) guna memberi kepastian insentif penggantian pajak tidak langsung. Meski demikian, insentif tersebut tetap akan diberikan pemerintah.

“Yang (Peraturan Menteri) Gross Split sudah dievaluasi, kelihatannya tidak perlu direvisi,” kata Wakil Menteri ESDM Arcandra Tahar.

    Pemerintah sebelumnya menjanjikan adanya insentif pembebasan pajak tidak langsung, termasuk di masa produksi. Namun untuk insentif pajak jenis ini di masa produksi, harus mempertimbangkan hitungan keekonomian blok migas tersebut. Jika di bawah hitungan keekonomian, perusahaan migas berhak mendapat insentif melalui tambahan bagi hasil.

    Dalam Peraturan Pemerintah No 53 Tahun 2017 tentang perpajakan kontrak gross split, yang diatur dengan jelas adalah tidak dipungutnya pajak tidak langsung sampai produksi minyak pertama. Namun, untuk insentif lainnya, Peraturan Pemerintah ini hanya menyatakan bahwa ketentuan lebih lanjut mengenai pemberian fasilitas diatur dengan Peraturan Menteri.

    Untuk itu, Kementerian ESDM sebelumnya sedang mempertimbangkan untuk mengubah Peraturan Menteri 52/2017 untuk menambah klausul soal insentif tambahan bagi hasil (split) sebagai kompensasi pajak tidak langsung yang sudah dibayarkan perusahaan migas. Namun, menurut Arcandra hal ini tidak dibutuhkan karena Peraturan Pemerintah 53/ 2017 telah memberikan dasar hukum dan dalam Peraturan Menteri Gross Split telah terdapat klausul tentang penambahan split.

    Klausul yang dimaksud dalam Peraturan Menteri Gross Split yakni Pasal 7 Ayat 1. Tepatnya, ayat ini menyatakan bahwa dalam hal perhitungan komersialisasi lapangan atau beberapa lapangan tidak mencapai keekonomian tertentu, Menteri dapat menetapkan tambahan persentase bagi hasil kepada kontraktor. Sehingga tambahan Split sebagai ganti pembayaran pajak tidak langsung bisa menggunakan ayat ini.

    Sebelumnya, Direktur Eksekutif Indonesian Petroleum Association (IPA) Marjolijn Wajong menuturkan, pihaknya masih menunggu peraturan terkait penambahan bagi hasil sebagai kompensasi pembayaran pajak-pajak tidak langsung pada masa produksi. 

“Hal  ini sangat penting dan dibutuhkan oleh para investor sehingga kepastian keekonomian sebuah proyek migas dapat lebih pasti dan terjaga. IPA mengharapkan agar ESDM dapat menerbitkan peraturan pelaksanaan yang berkaitan dengan hal tersebut secepatnya,” kata dia.

    Dalam Peraturan Pemerintah 53/2017 terdapat tujuh insentif fiskal yang diberikan oleh pemerintah. Rincinya, pembebasan bea masuk impor atas barang operasi migas, Pajak Pertambahan Nilai (PPn) dan Pajak Pertambahan Nilai  Barang Mewah (PPnBM) tidak dipungut atas perolehan dan pemanfaatan barang dan jasa operasi migas, Pajak Penghasilan (PPh) Pasal 22 tidak dipungut atas impor barang operasi migas, pengurangan Pajak Bumi dan Bangunan (PBB) 100%, pemanfaatan aset bersama migas tidak kena PPN, biaya operasi sebagai pengurang pendapatan kena pajak diperpanjang menjadi 10 tahun, dan biaya tidak langsung kantor pusat tidak kena PPN.

Investor Daily, Page-9, Monday, Jan 29, 2018

Facilitates Oil and Gas ESDM Business Want to Change Upstream Oil and Gas Government Regulation

    The Government will revise Government Regulation No. 35/2004 on Upstream Oil and Gas Business Activities. Through this revision, the government hopes that there will be an improvement in the investment climate of oil and gas in Indonesia. Deputy Minister of Energy and Mineral Resources (ESDM), Arcandra Tahar explained there are some changes in the revision of Government Regulation 35/2004.

Arcandra Tahar

 
    For example about transfer of firm commitment from one Work Area (WK) exploration, to other WK Locations. As an illustration of firm commitment is the commitment of oil and gas contractors to invest in oil and gas fields. The transfer of this firm commitment to the record as long as the transfer is accompanied by an additional commitment in the WK.

"So it's not a reduction," said Arcandra.

    He pointed out that if one Contractor of Cooperation Contract (KKKS) is committed to drilling in three wells in WK A, it can be transferred to the drilling commitment of three wells to WK B. However, KKKS should not reduce the commitment in WK B.

"The KKKS may move the three wells into the second field, which is still affiliated with the same company.In the second field, for example, the exact commitment of the four wells, the commitment on the ground certainly will be seven well," explained Arcandra.

    It's just to be able to transfer the firm commitment of oil and gas contractors must have affiliates.

"For example Pertamina Hulu Energi (PHE) and Pertamina EP, the important thing is not reduced," he added.

    The government considers that way could facilitate the implementation of oil and gas contractor commitments. Because all this time the contractor objected to having to pay a commitment they did not do if they did not find oil and gas reserves.

    As an illustration, oil and gas investment in 2017 is indeed down about 20% compared to 2016. If 2016 oil and gas investment reached US $ 12.74 billion, down to US $ 10.175 billion throughout 2017.

    In addition to increasing investment, the transition of this commitment is expected to add to the discovery of new reserves. Because in addition to changing the location of the WK from the firm commitment the government will also allow contractors to transfer the equipment they use in upstream oil and gas activities from one WK to another WK, if in fact they do not find oil and gas reserves in the first WK.

    So far, the equipment used by oil and gas contractors is categorized as state-owned goods because it has been paid by the government through cost recovery fund. Well after changing the scheme of oil and gas cooperation into gross split automatic equipment is not owned by the state because it is no longer replaced by cost recovery funds. But contractors still have to pay taxes and duties on these goods.

IN INDONESIA

Permudah Bisnis Migas ESDM Ingin Mengubah Peraturan Pemerintah Hulu Minyak dan Gas

    Pemerintah akan merevisi Peraturan Pemerintah Nomor 35/2004 tentang Kegiatan Usaha Hulu Minyak dan Gas Bumi. Lewat revisi ini, pemerintah berharap akan ada perbaikan dalam iklim investasi minyak dan gas di Indonesia. Wakil Menteri Energi dan Sumber Daya Mineral (ESDM), Arcandra Tahar menjelaskan ada beberapa perubahan di revisi Peraturan Pemerintah 35/2004.

    Misalnya tentang pengalihan firm commitment dari satu Wilayah Kerja (WK) eksplorasi, ke Iokasi WK lain. Sebagai gambaran firm commitment adalah komitmen dari kontraktor migas untuk berinvestasi di ladang migas. Pengalihan firm commitment ini dengan catatan sepanjang pengalihan itu dibarengi dengan komitmen tambahan di WK tersebut.

"Jadi bukan pengurangan," kata Arcandra.

    Dia mencontohkan jika satu Kontraktor Kontrak Kerja Sama (KKKS) memiliki komitmen untuk melakukan pengeboran di tiga sumur di WK A, maka bisa dialihkan komitmen pengeboran tiga sumur tersebut ke WK B. Namun KKKS tidak boleh mengurangi komitmen di WK B tersebut.

"KKKS boleh pindahkan tiga well itu ke lapangan kedua, yang masih berafiliasi dengan company yang sama. Nah di lapangan dua itu juga misalnya komitmen pastinya empat well, maka komitmen pasti di lapangan itu jadinya tujuh well," jelas Arcandra.

    Hanya saja untuk bisa mengalihkan firm commitment kontraktor migas harus memiliki afiliasi.

"Misalnya Pertamina Hulu Energi (PHE) dan Pertamina EP, yang penting tidak berkurang," imbuhnya.

    Pemerintah menganggap cara itu bisa memudahkan pelaksanaan komitmen kontraktor migas. Sebab selama ini kontraktor keberatan karena harus membayar komitmen yang tidak mereka kerjakan jika tidak menemukan cadangan migas.

    Sebagai gambaran, investasi migas tahun 2017 lalu memang turun sekitar 20% dibandingkan dengan 2016. Jika tahun 2016 investasi migas mencapai US$ 12,74 miliar, turun menjadi US$ 10,175 miliar sepanjang 2017.

    Selain menambah investasi, peralihan komitmen ini diharapkan bisa menambah penemuan cadangan baru. Sebab selain boleh mengubah lokasi WK dari firm commitment pemerintah juga akan membolehkan kontraktor mengalihkan peralatan yang mereka gunakan dalam kegiatan hulu migas dari satu WK ke WK lain, jika ternyata mereka tidak menemukan cadangan migas di WK pertama.

    Selama ini, peralatan yang dipakai kontraktor migas tersebut masuk kategori barang milik negara karena sudah dibayar pemerintah melalui dana cost recovery. Nah setelah berubah skema kerjasama migas menjadi gross split otomatis peralatan tersebut bukan milik negara karena tidak lagi diganti oleh dana cost recovery. Tapi kontraktor tetap harus membayar pajak dan bea masuk barang-barang tersebut.

Kontan, Page-14, Monday, Jan 29, 2018

ESDM Cancel Revising Gross Split Rules

    Ministry of Energy and Mineral Resources (ESMD) canceled the revision of Minister of Energy and Mineral Resources Regulation No. 8/2017 on Gross Split Revenue Contract. This revision was originally intended to align Government Regulation (PP) No. 58 of 2017 on Tax Treatment on Upstream Oil and Gas Business Activities with Gross Split Distribution Contract. This gross split tax rule is valid since it was enacted on 28 December 2017.

    In the regulation, the government also regulates the taxation facilities in the exploitation period that can be given to the contractor based on the economic level in the form of additional profit sharing for the contractor. 

    In addition, in the gross split tax rules, the government regulates the loss of carry forward for 10 years. There is also indirect tax exemption until the first oil and gas fields are produced.

Arcandra Tahar

    Deputy Minister of EMR, Arcandra Tahar called the consideration to cancel the revision of gross split in order to maintain investment certainty.

"Our gross split has been evaluated again, it seems unnecessary to be revised, if added as if uncertain," explained Arcandra.

    Furthermore, Arcandra said the regulation regarding the addition to the aforementioned is quite clearly stated in the Government Regulation on gross split tax. So there is no need to add a special clause in Ministerial Regulation concerning gross split.

     Later the addition of the revenue share will be determined based on the minister's discretion. With this certainty is expected to increase oil and gas investment.

IN INDONESIA

ESDM Batal Merevisi Aturan Gross Split

    Kementerian Energi dan Sumber Daya Mineral (ESMD) batal revisi Peraturan Menteri ESDM No 8/2017 tentang Kontrak Bagi Hasil Gross Split. Revisi ini semula bertujuan untuk menyelaraskan Peraturan Pemerintah (PP) 58 Tahun 2017 tentang Perlakuan Perpajakan Pada Kegiatan Usaha Hulu Migas Dengan Kontrak Bagi Hasil Gross Split. Aturan pajak gross split ini berlaku sejak diundangkan pada tanggal 28 Desember 2017 lalu.

Dalam regulasi tersebut, pemerintah juga mengatur tentang fasilitas perpajakan di masa eksploitasi yang bisa diberikan kepada kontraktor berdasarkan tingkat keekonomian yakni berupa tambahan bagi hasil (split) bagi kontraktor. 

     Selain itu, dalam aturan pajak gross split, pemerintah mengatur tentang loss carry forward selama 10 tahun. Ada juga pembebasan pajak tidak langsung (indirect tax) sampai ladang minyak dan gas berproduksi pertama kali.

Wakil Menteri ESDM, Arcandra Tahar menyebut pertimbangan membatalkan revisi gross split demi menjaga kepastian investasi.

"Gross split kami sudah evaluasi lagi, kelihatannya tidak perlu direvisi. Kalau ditambah seolah-olah tidak pasti," jelas Arcandra.

    Lebih lanjut Arcandra mengatakan aturan mengenai penambahan bagi hasi sudah cukup jelas tercantum dalam Peraturan Pemerintah tentang pajak gross split. Sehingga tidak perlu penambahan klausul khusus dalam Peraturan Menteri tentang gross split. 

     Nantinya penambahan bagi hasil tersebut akan ditentukan berdasarkan diskresi menteri. Dengan kepastian ini diharapkan bisa meningkatkan investasi migas.

Kontan, Page-14, Monday, Jan 29, 2018

Split Gross Tested Through 40 Work Areas

    The government will auction around 40 oil and gas working areas this year. The oil and gas blocks to be auctioned will consist of several unsuccessful working areas when auctioned in 2015-2017, new block, and block of expired contract (termination)

    The Ministry of Energy and Mineral Resources (ESDM) is evaluating the oil and gas working areas to be auctioned in order to be truly feasible to be offered to contractors.

Ignatius Jonan

     In fact, ESDM Minister Ignatius Jonan visited Europe this week which one of his agenda is to offer oil and gas block auctions to major contractors. In addition, Vice Minister of EMR Arcandra Tahar will also visit the United States in the near future to offer oil and gas blocks to be auctioned.

    A total of 25 non-auction blocks in 2015-2016 include Labup Rupat, South CPP, Nibung, Batu Gajah Dua, Bukit Barat, South Tuna, Tongkol, Banyumas, Ampuh, East Sepanjang-Kangean, Kasongan Sampit.

"Ranges between 25-40 Work Areas [to be auctioned in 2018].

    Working Area It will be evaluated, not to the auction is not worth the auction, "said Arcandra Tahar when meeting with the media. The auction of oil and gas blocks will automatically use a gross split (gloss split) scheme that replaces the cost recovery scheme.

    Meanwhile, PT Pertamina is willing to take over all oil and gas blocks whose contract expires in 2018. Based on data from the Ministry of Energy and Mineral Resources, there are eight oil and gas blocks that will expire in 2018. The eight oil and gas blocks that end will automatically move to Pertamina as national oil and gas company.

Syamsu Alam

 
    Upstream Director of Pertamina Syamsu Alam said the company still has not decided to take privilege on eight oil and gas blocks that will terminate this year.

"We have no decision, just wait later if there is a decision," he said.

    Secretary General of the ESDM Ministry Ego Syahrial claimed that Pertamina has received an assignment for the management of eight oil and gas blocks to be terminated this year so there is no auction for the termination block.

IN INDONESIA

Gross Split Diuji Lewat 40 Wilayah Kerja

    Pemerintah akan melelang sekitar 40 Wilayah kerja minyak dan gas bumi pada tahun ini. Blok migas yang akan dilelang itu terdiri atas beberapa Wilayah kerja yang tidak laku saat dilelang pada 2015-2017, blok baru, serta blok yang sudah habis kontrak (terminasi)

    Kementerian Energi dan Sumber Daya Mineral (ESDM) sedang mengevaluasi Wilayah kerja migas yang akan dilelang tersebut agar benar-benar layak untuk ditawarkan kepada kontraktor.

    Bahkan, Menteri ESDM Ignasius Jonan berkunjung ke Eropa pada pekan ini yang salah satu agendanya adalah menawarkan lelang blok migas kepada para kontraktor besar. Selain itu, Wakil Menteri ESDM Arcandra Tahar juga akan berkunjung ke Amerika Serikat dalam waktu dekat untuk menawarkan blok migas yang akan dilelang tersebut.

    Sebanyak 25 blok yang tidak laku dilelang pada 2015-2016 antara lain Rupat Labuhan, South CPP, Nibung, Batu Gajah Dua, Bukit Barat, South Tuna, Tongkol, Banyumas, Ampuh, East Sepanjang-Kangean, Kasongan Sampit.

“Berkisar antara 25-40 Wilayah Kerja [yang akan dilelang pada 2018].

    Wilayah Kerja Itu akan dievaluasi, jangan sampai yang dilelang tidak layak lelang,” kata Arcandra Tahar saat bertemu dengan media. Lelang blok migas tersebut otomatis akan menggunakan skema bagi hasil kotor (gloss split) yang menggantikan skema cost recovery.

    Sementara itu, PT Pertamina bersedia untuk mengambil alih seluruh blok minyak dan gas bumi yang kontraknya sudah berakhir pada 2018. Berdasarkan data Kementerian ESDM, ada delapan blok migas yang akan berakhir kontraknya pada 2018. Delapan blok migas yang berakhir itu otomatis akan beralih ke Pertamina sebagai perusahaan migas nasional.

    Direktur Hulu Pertamina Syamsu Alam mengatakan, perseroan masih belum memutuskan untuk mengambil hak istimewa pada delapan blok migas yang akan terminasi pada tahun ini.

“Kami belum ada keputusan, ditunggu saja nanti kalau sudah ada keputusannya,” ujarnya.

    Sekretaris Jenderal Kementerian ESDM Ego Syahrial mengklaim, Pertamina telah menerima penugasan untuk pengelolaan delapan blok migas yang akan terminasi pada tahun ini sehingga tidak ada lelang untuk blok terminasi tersebut.

Bisnis Indonesia, Page-30, Monday, Jan 29, 2018

Petronas made Indonesia Priority

    Petronas has signed nine production sharing contract (PSC) and currently operates four oil and gas blocks in Indonesia. Malaysia's oil and gas company, Petronas, sees Indonesia providing a great opportunity for oil and gas exploration development.

"Indonesia has and provides great opportunities for the development of oil and gas exploration. Therefore, we make Indonesia top priority, "said Head of Country of Petronas Carigali Indonesia M Zaini B Md Nor in his presentation to SKK Migas, Contractor Cooperation Contract (KKKS), and a number of media leaders, in Kuala Lumpur, Malaysia.

Petronas

    Petronas Carigali Indonesia operates in Indonesia since 2000. They have signed nine production sharing contracts (PSCs) and currently operate four oil and gas blocks in Indonesia. One of them is the Ketapang Block, in Lapangan Bukit Tua, near Madura, East Java.

    Bukit Tua field is the largest upstream oil and gas project of Petronas in Indonesia. Its investment reaches the US $ 800 million. As an operator, Malaysia's oil and gas company holds 80% of the shares, and the remaining 20% ​​is owned by PT Saka Ketapang Perdana, a subsidiary of state-owned Perusahaan Gas Negara (PGN).

    Petronas as the operator of Ketapang Block is ready to drill two new wells in Lapangan Bukit Tua to increase production from 15,000 barrels oil per day to 20,000 BOPD.

    In addition, Petronas as the manager of the North Madura II Block also added one well for exploration. From data from SKK Migas, the investment fund for the two wells reached the US $ 80 million. The state-owned oil and gas company also controls an 80% stake in Muriah Block. Petronas also cooperates with PGN subsidiary in Blok Muriah, namely PT Saka Energy Muriah Ltd.

    Previously Petronas declared Kepodang Gas Field, Muriah Block stated in a force majeure state, ie gas production capacity fell not as predicted earlier.

"We are waiting for the study of Lemigas (Research Center and Development of Oil and Gas Technology)," said Zaini.

    The results of the study determine the circumstances of the force majeure and the number of losses suffered by Petronas.

"Oil and gas business is high risk. The capacity of oil and gas produced is often smaller than predicted, "said Zaini.

Simplify procedure

    The problem in the Muriah Block did not dampen Petronas's move to develop its oil and gas industry in Indonesia. Petronas keeps Indonesia as a key area for the development of its oil and gas industry.

    Deputy Head of SKK Migas Sukandar said Indonesia will offer a number of blocks to oil and gas companies and he expects Petronas to be interested.

"One of them is the block in Papua," said Sukandar.

    To attract oil and gas companies, SKK Migas facilitates administrative procedures.

"The Minister of EMR likes us to approve the licenses if you are interested even before the official offer you submit," said Sukandar.

    Petronas, Zaini said, would certainly consider the offer.

"We see we certainly prefer Java to Papua," he said.

Blogger Agus Purnomo in Petronas Carigali Ketapang

Media Indonesia, Page-14, Saturday, Jan 27, 2018

Pertamina set to take over costly blocks

    After long-drawn-out negotiations, state-owned energy giant Pertamina is set to take over the costly East Kalimantan and Attaka oil and gas blocks.

    The move allows the company to comply with the government’s mandate in early January to acquire eight blocks, the contracts of which will expire this year, despite its mounting financial burden. The blocks are: Tuban, Ogan Komering, Sanga-sanga, Southeast Sumatra, North Sumatra Offshore, Tengah, East Kalimantan and Attaka.

East Kalimantan and Attaka

     After carrying out a thorough evaluation on the cost structure and risks of operating these blocks under a new production-sharing contract scheme the gross-split scheme - Pertamina decided to return the East Kalimantan block to the government as the latter considered block abandonment and site restoration costs too high.

    Subsequently, the company also had to return the Attaka block as its operation had been merged with that of the East Kalimantan block. However, in a move some might consider unexpected, Pertamina reversed its stance when it expressed its readiness to make sacrifices in running the two blocks.

    Energy and Mineral Resources Ministry secretary-general Ego Syahrial told reporters on Thursday evening that the government’s persistent efforts in persuading Pertamina could have been the reason behind the company’s decision to change course.
 

“Pertamina thought it would suffer losses if it only operated the East Kalimantan block. But [we said] the losses would be compensated with returns from other blocks,” he said.

“At last, the company expressed a willingness to take over all of the eight blocks as mandated by the government.”

    Ego said the company could use state-of-the-art technology to slash down on considerable block abandonment and site restoration expenses or find partners'to jointly operate the East Kalimantan block.

    Separately, Pertamina spokesperson Adiatma Sardjito confirmed that the company was ready to acquire the East Kalimantan and Attaka blocks, saying the decision would not significantly aifect its financial health.

“It is possible. We have made some calculations for it [the acquisition],” he told The Jakarta Post on Friday.

    Pertamina’s decision to take over the two blocks comes in the wake of the company’s poor financial performance. Between January and September last year, its net income fell by 29.7 percent year-on-year to US$1.99 billion following the government’s decision to maintain the prices of Premium gasoline and subsidized Solar diesel amid an increase in global crude prices.

Total E&P Indonesie

 
    The Energy and Mineral Resources Ministry officially ordered Pertamina to handle the Tengah block and North Sumatra Offshore blocks. It said the company could operate the Tengah block more efficiently given that the operation of it was merged with that of East Kalimantan’s Mahakam block, which Pertamina recently took over from France’s Total E&P Indonesie and Japan’s Inpex.

Toshiaki Kitamura, the Inpex chief executive

    In addition, the energy giant is also expected to merge the operations of the North Sumatra Offshore and North Sumatra B blocks, which are controlled by Pertamina subsidiary PT Pertamina Hulu Energi (PHE). Nevertheless, the ministry has also given the current contractors the chance to handle another four blocks the Tuban, Ogan Komering, Sanga-sanga and Southeast Sumatra blocks - through a proposed contract extension.

    Ego revealed that the work plan and budget documents submitted by prevailing operators were better than those offered by Pertamina and, therefore, the latter could obtain the four blocks only if it revised its proposals to compete with its rivals.

Jakarta Post, Page-13, Saturday, Jan 27, 2018