The oil and gas industry asks the government to clarify the rules regarding the mechanism of return on investment costs to contractors of KKKS cooperation contracts at the end of the contract period.
As is known, dated March 29, 2017, Minister of Energy and Mineral Resources (EMR) Ignasius Jonan stipulates Minister of Energy and Mineral Resources Regulation N026 / 2017 on Investment Cost Reversal Mechanism on Upstream Oil and Gas Business Activities.
The regulation is designed to maintain the level of production and optimization of state revenues from upstream oil and gas business activities by requiring the contractor to maintain the fairness of oil and gas production level until the end of the contract period.
Therefore, the contractor is obliged to invest in the working area. In the framework of the investment, the contractor gets the return of investment cost during the contract period. In the event that the cooperation contract is extended and there is still an investment cost that has not been refunded, the refund can be continued during the contract renewal period.
In the event that the cooperation contract is extended using a gross split sharing contract and there is still an investment cost, the remaining non-refundable investment costs are taken into account on the contractor's part.
Meanwhile, if there is another party as a new contractor other than the old contractor, then the new contractor must bear the remaining investment cost that has not been returned proportionally according to the amount of participating interest.
However, if the contract is not renewed and there are still non-refundable investment costs, the return on investment costs will be borne by the new contractor.
Marjolijn Wajong, Executive Director of Indonesian Petroleum Association (IPA), said the scheme would only appeal to assets that offer sufficient economics to contractors. However, if the economy of the oil and gas block is low, it will be difficult for the new contractor to bear all unrecoverable costs in advance before the contract expires.
"If the economy is good, then it can be accepted by new contractors, but if the economy is ugly, then it is difficult to be accepted by new contractors," he said.
Related to that, Upstream Director of PT Pertamina Syamsu Alam asked for clarity regarding payment mechanism and unrecovered cost calculation which must be borne. "The payment mechanism and the unrecovered cost obligations that must be covered must be adjusted to the applicable accounting rules," he said.
As is known, Pertamina is assigned by the government to manage several working areas that will expire, including Attaka Block, Mahakam Block, Tuban Block, Ogan Komering Block, Sanga-Sanga Block, South East Sumatera Block, Central Block, North Sumatera Offshore Block, And East Kalimantan Block.
Related to the new regulation, according to him, Pertamina budgeted its investment returns in 2018 for the replacement of unrecovered costs in eight working areas assigned by the government. However, until now Pertamina can not do the calculation in detail.
"But the investment value is estimated not too high because of the eight oil and gas blocks, the three regions have been managed first," he said.
EMR Deputy Minister of Energy Arcandra Tahar previously said that contractors who take over oil and gas blocks that have expired their contracts are obliged to refund costs previously incurred by operators in cash. According to him, the contractor must have the calculation and the right study if you want to get the return of investment as initial capital to start production.
Based on data from the Special Working Unit for Upstream Oil and Gas Executives (SKK Migas), the realization of oil production until the end of March reached 815,600 barrels per day (BPD) and gas in the same period reached 6,503 million cubic feet per day (MMSCFD).
The realization of upstream oil and gas investment in the quarter I / 2017 amounted to USD1, 90 billion, down 32% compared with the realization of the same period last year USD 2.80 billion. The target of upstream oil and gas investment this year is USD13, 80 billion.
Secretary of SKK Migas Budi Agustyono said up to now upstream oil and gas activities are still running as planned. No contractor has proposed changes in informal work. SKK Migas is optimistic that this year's investment target can be achieved.
IN INDONESIAN
Aturan Pengembalian Investasi Migas Perlu di Perjelas
Industri migas meminta pemerintah memperjelas aturan mengenai mekanisme pengembalian biaya investasi kepada kontraktor kontrak kerja sama KKKS pada akhir masa kontrak kerja sama.
Seperti diketahui, tanggal 29 Maret 2017 Menteri Energi dan Sumber Daya Mineral (ESDM) Ignasius Jonan menetapkan Peraturan Menteri ESDM N026/2017 tentang Mekanisme Pengembalian Biaya Investasi pada Kegiatan Usaha Hulu Minyak dan Gas Bumi.
Aturan itu dibuat untuk menjaga tingkat produksi dan optimalisasi penerimaan negara dari kegiatan usaha hulu migas dengan mewajibkan kontraktor menjaga kewajaran tingkat produksi migas sampai berakhirnya masa kontrak kerjasama.
Untuk itu, kontraktor wajib melakukan investasi di wilayah kerja. Dalam rangka investasi tersebut, kontraktor mendapatkan pengembalian biaya investasi selama masa kontrak kerja sama. Dalam hal kontrak kerja sama diperpanjang dan masih terdapat biaya investasi yang belum dikembalikan, pengembaliannya dapat dilanjutkan selama masa perpanjangan kontrak kerjasama.
Dalam hal kontrak kerja sama diperpanjang menggunakan kontrak bagi hasil gross split dan masih terdapat biaya investasi, sisa biaya investasi yang belum dikembalikan diperhitungkan dalam bagian kontraktor.
Sementara, jika terdapat pihak lain sebagai kontraktor baru selain kontraktor lama, maka kontraktor baru harus menanggung sisa biaya investasi yang belum dikembalikan secara proporsional sesuai besaran participating interest.
Namun, jika kontrak kerjasama tidak diperpanjang dan masih terdapat biaya investasi yang belum dikembalikan, pengembalian biaya investasi ditanggung kontraktor baru.
Direktur Eksekutif Indonesian Petroleum Association (IPA) Marjolijn Wajong menilai skema itu hanya akan menarik bagi aset-aset yang menawarkan keekonomian cukup bagi kontraktor. Namun, apabila keekonomian blok migas rendah, menurutnya akan sulit bagi kontraktor baru menanggung seluruh unrecovered cost di awal sebelum kontrak berakhir.
"Kalau secara keekonomian baik, maka bisa diterima oleh kontraktor baru, tetapi kalau secara keekonomian jelek, maka sulit untuk diterima oleh kontraktor baru," katanya.
Terkait dengan itu, Direktur Hulu PT Pertamina Syamsu Alam meminta kejelasan mengenai mekanisme pembayaran dan perhitungan unrecovered cost yang harus ditanggung. "Mekanisme pembayaran dan perhittmgan unrecovered cost yang harus ditanggung hrus disesuaikan dengan kaidah akuntansi yang berlaku,” ujarnya
Seperti diketahui, Pertamina ditugasi pemerintah untuk mengelola beberapa wilayah kerja yang akan habis masa kontraknya, antara lain Blok Attaka, Blok Mahakam, Blok Tuban, Blok Ogan Komering, Blok Sanga-Sanga, Blok South East Sumatera, Blok Tengah, Blok North Sumatera Offshore, dan Blok East Kalimantan.
Terkait aturan baru itu, menurut dia, Pertamina menganggarkan dana pengembalian investasi pada 2018 untuk penggantian unrecovered cost di delapan wilayah kerja yang telah ditugaskan pemerintah. Namun, sampai saat ini Pertamina belum bisa melakukan perhitungan secara detail.
"Tapi nilai investasi diperkirakan tidak terlalu tinggi karena dari delapan blok migas, tiga wilayah telah dikelola terlebih dahulu,” kata dia.
Wakil Menteri ESDM Arcandra Tahar sebelumnya mengatakan, kontraktor yang mengambil alih blok minyak dan gas bumi yang telah habis masa kontraknya wajib mengembalikan biaya yang telah dikeluarkan operator sebelumnya secara tunai.
Menurut dia, kontraktor harus memiliki perhitungan dan kajian tepat jika ingin mendapatkan pengembalian investasi sebagai modal awal untuk memulai produksi.
Berdasarkan data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Migas (SKK Migas), realisasi produksi minyak sampai akhir Maret mencapai 815.600 barel per hari (bph) dan gas pada periode yang sama mencapai 6.503 juta kaki kubik per hari (MMSCFD).
Adapun realisasi investasi hulu migas pada kuartal I/2017 sebesar USD1,90 miliar, turun 32% dibandingkan dengan realisasi periode yang sama tahun lalu USD 2,80 miliar. Adapun target investasi hulu migas pada tahun ini USD13,80 miliar.
Sekretaris SKK Migas Budi Agustyono mengatakan, sampai saat ini kegiatan hulu migas masih berjalan sesuai rencana. Belum ada kontraktor yang mengusulkan perubahan kegiatan kerja secara informal. SKK Migas optimistis target investasi pada tahun ini dapat tercapai.
Koran Sindo, Page-8, Thursday, April, 20, 2017
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