Gross Split More Risky

Realization of investment in the upstream oil and gas sector continues to decline. In 2015 the value of investment reached USD 15.34 billion and then fell to USD 11.15 billion last year. Head of SKK Migas Amien Sunaryadi said the decline in investment in upstream oil and gas and oil and gas supporting industries due to weak world oil prices. Therefore, the investment is not as high as it used to be.

Reforminer Institute Executive Director Komaidi Notonegoro explains that global oil and gas exploration activities are down 24 percent since the end of 2014. So, exploitation activity fell 18-22 percent. In addition to world oil prices, unstable regulation and hot politics are fueling uncertainty of oil and gas investment climate in the eyes of investors. One of the negative regulation is the production sharing cost gross split used for new oil and gas contracts.

The system is considered not attractive to investors because the amount received by investors in the same net, but more risky. With the cost recovery scheme, the profit sharing of oil and gas can be done. However, with the gross split, the contractor of the cooperation contract (KKKS) must calculate on its own. 

     If the contract is 30 years, maybe the BEP just met 15 years or 10 years. This is why it is not simple, "said Komaidi. There are currently 14 items of risk in the oil and gas business in Indonesia.With a gross split system, all business risks are borne by KKKS.

IN INDONESIAN

Gross Split Lebih Berisiko

Realisasi investasi di sektor hulu minyak dan gas bumi terus menurun. Pada 2015 nilai investasi mencapai USD 15,34 miliar lalu turun menjadi USD 11,15 miliar tahun lalu. Kepala SKK Migas Amien Sunaryadi menyatakan, penurunan investasi di sektor hulu migas dan industri pendukung migas disebabkan lemahnya harga minyak dunia. Karena itu, investasinya belum setinggi dulu.

Direktur Eksekutif Reforminer Institute Komaidi Notonegoro menjelaskan, kegiatan eksplorasi migas secara global turun 24 persen sejak akhir 2014. Lantas, kegiatan eksploitasi turun 18-22 persen. Selain harga minyak dunia, regulasi yang tidak stabil dan politik yang panas meuimbulkan ketidakpastian iklim investasi migas di mata investor. Salah satu regulasi yang dinilai negatif adalah production sharing cost gross split yang digunakan untuk kontrak migas baru.

Sistem tersebut dinilai belum menarik bagi investor karena jumlah yang diterima investor secara netto sama, tetapi lebih berisiko. Dengan skema cost recovery, bagi hasil migas sudah dapat dilakukan. Namun, dengan gross split, kontraktor kontrak kerja sama (KKKS) harus menghitung sendiri. 

     Kalau kontraknya 30 tahun, mungkin BEP-nya baru ketemu 15 tahun atau 10 tahun. Ini yang menyebabkan tidak sederhana," kata Komaidi. Saat ini ada 14 item risiko dalam bisnis migas di Indonesia. Dengan sistem gross split, seluruh risiko bisnis ditanggung oleh KKKS.

Jawa Pos, Page-5, Wednesday, May, 17, 2017