Mackenzie: Gross Split Scheme Prevent Oil and Gas Investment

The government version, many oil and gas companies want to wear a gross scheme split

Consulting and research institutions in the fields of energy, metals, and mining Wood Mackenzie published analysis that compares the production sharing contract (PSC) cost recovery with gross schemes split.

Mackenzie highlighted four things on the Regulation of the Minister. No. 8/2017 on gross revenue share split in oil and gas. First, Mackenzie called the main difference between the PSC with gross PSC split. Second they evaluate exploration under the new policy gross split. Third, the application of gross split to block the extension of the case studies the Offshore North West Java (ONWJ). Fourth, the implications of the implementation of this new regulation.

From the conclusion of the fourth analysis of the issue, Ashima Taneja, Senior Research Manager South, Eastern Asia Upstream Oil and Gas Wood Mackenzie rate, gross PSC scheme actually split relatively negatively impacting the economics of upstream projects, when compared with the PSC cosit recovery scheme. Therefore, the cost will no longer be restored using a system of cost recovery.

Understandably, gross regime split eliminate cost recovery mechanism. This put pressure on the contractor to control costs by encouraging more quickly and efficiently in the upstream sector, "he said.

So that the contractor can earn revenue from oil and gas blocks are still in production, the contractor must reduce costs closely. "Even in the case of exploration, gross split system would deter investment, especially the working area with high costs and are in remote areas," said Ashima.

In order for Indonesian upstream oil and gas investment more attractive, Ashima that the Indonesian government could discuss the improvement of bureaucracy and regulations that impede that still interfere with upstream oil and gas investment climate in Indonesia.

"It is still unclear how the process is cumbersome and lengthy approval system will be improved, and if the new fiscal regime could actually improve efficiency," he said.

In addition, Ashima also questioned the idea that the greater the results for the contractor, so as to bring new investment interest. He is believed roformasi regulation could make operations more efficient upstream oil and gas.

Deputy Minister at the same initiators gross scheme PSC split, Arczandra Tahar claims with gross schemes split, there has been some of the existing oil and gas companies actually want to change the contract of PSC PSC gross cost revofuery be split. However Arcandra not answer the names of companies that are interested in using gross split it.

IN INDONESIAN

Mackenzie: Gross Split Halangi Investasi Migas

Versi pemerintah, banyak perusahaan migas ingin memakai skema gross split

Konsultan dan lembaga riset di bidang energi, logam, dan tambang Wood Mackenzie menerbitkan analisis yang membandingkan production sharing contract (PSC) cost recovery dengan skema gross split. 

Mackenzie menyoroti empat hal pada Peraturan Menteri ESDM. No 8/2017 tentang gross split di bagi hasil minyak dan gas bumi. Pertama, Mackenzie menyebut perbedaan utama antara PSC dengan PSC gross split. Kedua mereka mengevaluasi eksplorasi di bawah kebijakan baru gross split. Ketiga, penerapan gross split kepada blok perpanjangan dengan studi kasus Blok Offshore North West Java (ONWJ). Keempat, implikasi penerapan regulasi baru ini.

Dari kesimpulan analisis keempat masalah itu, Ashima Taneja, Senior Research Manager South, Eastern Asia Upstream Oil and Gas Wood Mackenzie menilai, skema PSC gross split justru relatif berdampak negatif bagi keekonomian proyek hulu, jika dibandingkan dengan skema PSC cosit recovery. Sebab, biaya yang dikeluarkan tidak lagi dikembalikan menggunakan sistem cost recovery.

Maklum, rezim gross split menghilangkan mekanisme cost recovery. Ini memberi tekanan pada kontraktor untuk mengendalikan biaya dengan mendorong lebih cepat dan efisien di sektor hulu," kata dia.

Agar kontraktor bisa meraih penghasilan dari blok migas yang masih berproduksi, kontraktor harus mengurangi biaya secara ketat. "Bahkan dalam kasus eksplorasi, sistem gross split akan menghalangi investasi, terutama wilayah kerja dengan biaya tinggi dan berada di area terpencil," kata Ashima.

Agar investasi hulu migas Indonesia lebih menarik, Ashima menyarankan agar pemerintah Indonesia bisa mendiskusikan perbaikan birokrasi dan regulasi yang menghambat yang selama ini masih mengganggu iklim investasi hulu migas Indonesia.

"Ini masih belum jelas bagaimana proses yang tidak praktis dan sistem persetujuan yang panjang akan diperbaiki, dan jika rezim fiskal baru benar-benar bisa meningkatkan efisiensi," ujarnya.

Selain itu, Ashima juga mempertanyakan, pendapat bahwa bagi hasil lebih besar bagi kontraktor, sehingga bisa membawa ketertarikan investasi baru. Ia lebih percaya roformasi regulasi bisa membuat operasi hulu migas menjadi lebih efisien.

Wakil Menteri ESDM sekaligus penggagas skema gross split PSC, Arczandra Tahar mengklaim dengan skema  gross split, telah ada beberapa perusahaan migas eksisting justru ingin mengubah kontrak dari PSC cost revofuery menjadi PSC gross split. Namun Arcandra tidak menjawab nama-nama perusahaan yang berminat menggunakan gross split itu. 

Kontan, Page-14, Monday, March, 13, 2017