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Tuesday, February 14, 2017

Competition in the Upstream Oil and Gas More Strict



The government continues to seek a breakthrough in order to increase investment in the upstream sector of oil and gas. It was necessary given the competitive upstream oil and gas industry on a global level is more strict. "We compete with other countries to offer more attractive investment.

We compete with countries Vietnan, Myanmar, and Africa, "said Director General of Oil and Gas at the Ministry of Energy and Mineral Resources (ESDM) I Gusti Nyoman Wiratmadja Puja during the discussion titled" Improving Upstream Oil and Gas Investments "in the Press Council in Jakarta.

According Wiratmadja, upstream oil and gas investment conditions in Africa more attractive for successfully modifying the system of production sharing contracts (Production Sharing Contract / PSC) is simpler not through the cumbersome regulation. The condition is also being applied in Indonesia.

Currently, the government began enforcing a scheme based on the contract for gross proceeds of gross production (gross split) for exploration and production in the upstream oil and replace the model for previous results with the return costs incurred investors have completely replaced the government or cost recovery.

With gross split permissions models are expected to be faster because it will cut its estimated time of 2-3 years from exploration to production. Previously from research to production can take up to 16 years. "We hope the scheme will be more attractive gross split apart in pushing world oil price hike," he said.

Wiratmadja explains, judging from the sequence upstream oil and gas investment, Indonesia ranks lowest in Southeast Asia. In fact, the potential reserves in Indonesia is still large. Only 30 hydrocarbon basins are utilized, while about 70 other hydrocarbon basins yet.

"We continue to explore how the upstream oil and gas investment more attractive. We hope that regulation and incentives could raise more investment.

Chairman of the Employers' Association of Indonesia (APINDO) ESDM Sector Sammy Hamzah assume split the difference between gross and cost recovery is not too much influence the decision to invest. It is more a concern of investors thinks is business certainty, which is also a disadvantage Indonesia compared with other countries. Weaknesses include a lengthy bureaucratic and easy to change.

"We appreciate the government has been trying to get a better oil and gas investment, including changing the profit-sharing scheme as a model gross split. However, the current urgent is to provide business certainty, especially investors awaited revision of oil and gas law, which is still unclear.

Sammy said the investment in upstream oil and gas are deterred because there is no legal certainty and investment in Indonesia after the exit of Law No. 22/2001 on Oil and Gas (Oil and Gas Law).

He hoped the oil and gas law should be revised so that oil and gas upstream investment is guaranteed. Rule derivatives can also accommodate the entire cross-sectoral. Member of House of Representatives Commission VII Kurtubi justifies sluggish upstream oil and gas investment in Indonesia Iantaran lack of certainty on investments due to the revision of oil and gas law.

He said the oil and gas law will apply to special tax rules (lex specialist) to the upstream oil and gas investment. Because the upstream oil and gas tax issues make offenders think twice to invest in the country. "In the new oil and gas law, this tax no longer applies for investment in oil and gas is full of risk. It will get rid of, he said.

IN INDONESIAN

Persaingan di Hulu Migas Makin Ketat

Pemerintah terus mencari terobosan guna meningkatkan investasi di sektor hulu minyak dan gas bumi. Hal itu diperlukan mengingat persaingan industri hulu migas di tingkat global semakin ketat. “Kita bersaing dengan negara-negara lain dengan tawaran investasi yang lebih menarik. 

Kita bersaing dengan negara Vietnan, Myanmar, dan Afrika, " ujar Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) I Gusti Nyoman Wiratmadja Puja saat diskusi bertajuk “Meningkatkan Investasi Hulu Migas” di Dewan Pers Jakarta.

Menurut Wiratmadja, kondisi investasi hulu migas di Afrika lebih menarik karena berhasil memodifikasi sistem kontrak bagi hasil (Production Sharing Contract / PSC) lebih simpel tidak melalui jalur regulasi yang berbelit. Kondisi itu juga sedang diterapkan di Indonesia.

Saat ini pemerintah mulai memberlakukan skema kontrak bagi hasil kotor berdasarkan produksi bruto (gross split) untuk eksplorasi dan produksi di hulu migas menggantikan model bagi hasil sebelumnya dengan pengembalian biaya yang dikeluarkan investor sepenuhnya diganti pemerintah atau cost recovery .

Dengan model gross split perizinan diharapkan akan lebih cepat karena ditaksir akan memangkas waktu 2-3 tahun mulai dari eksplorasi hingga produksi. Sebelumnya dari riset sampai produksi memerlukan waktu hingga mencapai 16 tahun. “Kami berharap dengan skema gross split akan lebih atraktif selain di dorong kenaikan harga minyak dunia," ucapnya.

Wiratmadja menjelaskan, dilihat dari urutan investasi hulu migas, Indonesia menempati peringkat terendah di Asia Tenggara. Padahal, potensi cadangan di Indonesia masih besar. Hanya 30 cekungan hidrokarbon yang dimanfaatkan, sedangkan sekitar 70 cekungan hidrokarbon lainnya belum.

“Kita terus mencari bagaimana investasi hulu migas lebih atraktif. Kita berharap regulasi dan insentif bisa menaikkan lagi investasi. 

Ketua Asosiasi Pengusaha Seluruh Indonesia (Apindo) Bidang ESDM Sammy Hamzah beranggapan perbedaan antara gross split dan cost recovery tidak terlalu banyak mempengaruhi keputusan melakukan investasi. Hal yang lebih menjadi perhatian investor menurutnya adalah kepastian usaha, yang juga menjadi kelemahan Indonesia dibandingkan dengan negara lain. Kelemahan itu antara lain birokrasi panjang dan yang mudah berubah.

"Kami mengapresiasi pemerintah telah berusaha agar investasi migas lebih baik, termasuk mengubah skema bagi hasil menjadi model gross split . Namun, saat ini yang mendesak adalah memberikan kepastian usaha terutama investor menunggu revisi Undang-Undang Migas yang saat ini masih belum jelas. 

Sammy mengatakan, investasi hulu migas menjadi tidak bergairah karena tidak ada kepastian hukum dan investasi di Indonesia setelah keluar Undang-Undang No 22/2001 tentang Minyak dan Gas Bumi (UU Migas). 

Dia berharap UU Migas segera direvisi agar investasi hulu migas lebih terjamin. Aturan turunannya juga dapat mengakomodir seluruh lintas sektoral. Anggota DPR Komisi VII Kurtubi membenarkan jika lesunya investasi hulu migas di lndonesia Iantaran tidak adanya kepastian investasi yang disebabkan revisi UU Migas. 

Dia mengatakan UU Migas akan menerapkan aturan pajak khusus (lex specialist) terhadap investasi hulu migas. Pasalnya, persoalan pajak usaha hulu migas membuat pelaku berpikir ulang untuk berinvestasi di dalam negeri. “Di UU Migas baru, pajak ini tidak lagi berlaku karena investasi di migas sudah penuh risiko. Itu akan kita hilangkan, katanya.

Koran Sindo, Page-8, Monday, Feb, 13, 2017

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