As long as these concerns arise, the application of the results of the gross split pattern causes upstream oil and gas investment to be less attractive. Of course the government denies. No one has told me it is not economical, "said Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar.
According to him, the government set a gross split scheme after calibration in 10 major fields. Among them are Rokan, ONWJ, Tangguh, Cepu, Deepwater West Seno and Natuna.
By using gross split, the duration of the exploration stage until the first oil cuts the time up to 20 months. BP Indonesia for example takes 105 months to reach first oil. Meanwhile, Cepu Block if using gross split can be reduced for 30 months. On average it can save 2-3 years, says Arcandra.
But in reality, the Cooperation Contract Contractor (KKKS) still doubts the application of gross split can make the oil and gas company profitable. Even oil and gas investment blocks are not suitable for gross splits.
The gross split policy debate is still ongoing. Whereas the Regulation of Minister of Energy and Mineral Resources Number 8 the Year 2017 About Gross Split Distribution Contract has been published in January.
In the meantime, consultants and research institutes in the energy, metal and mining fields of Wood Mackenzie published an analysis in March 2017, the gross split sharing scheme would negatively impact the economy of upstream oil and gas projects, compared to cost recovery schemes.
Operations Director of PT Medco Energi International, Tbk Ronald Gunawan admitted, it has reviewed the economic calculations in four production sharing contracts consisting of two oil blocks and two gas blocks. From the assessment, according to Ronald, the oil block contract with the investment rate is not too high is still quite economical to use gross split.
However, oil and gas block contracts with high investment profile, in terms of the economic level of the field between gross Split and cost recovery contracts. If I look at that assumption, the gross split is no more attractive than cost recovery results due to time value money, said Ronald, during a gross split discussion at SKK Migas Office, City Plaza, South Jakarta, Monday (8/5).
While Arcandra requested KKKS recalculate by entering the acceleration factor of time that can be obtained if using gross split scheme. That way there will be a cost saving.
IN INDONESIAN
KKKS Ragu Gross Split Menguntungkan
Selama ini muncul kekhawatiran, penerapan bagi hasil pola gross split menyebabkan investasi hulu migas menjadi kurang menarik. Tentu saja pemerintah membantah. Belum ada yang bilang kepada saya tidak ekonomis," kata Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar.
Menurutnya, pemerintah menetapkan skema gross split setelah melakukan kalibrasi di 10 lapangan besar. Di antaranya Rokan, ONWJ, Tangguh, Cepu, Deepwater West Seno dan Natuna.
Dengan memakai gross split, durasi dari tahapan eksplorasi sampai minyak pertama memangkas waktu hingga 20 bulan. BP Indonesia misalnya, membutuhkan waktu 105 bulan untuk mencapai first oil. Sementara itu, Blok Cepu jika menggunakan gross split bisa dikurangi selama 30 bulan. Rata-rata bisa save 2-3 tahun, kata Arcandra.
Tapi kenyataannya, Kontraktor Kontrak Kerja Sama (KKKS) masih meragukan penerapan gross split bisa membuat perusahaan migas untung. Bahkan blok migas dengan investasi tinggi tidak cocok memakai gross split.
Perdebatan kebijakan gross split tersebut masih terus berlangsung. Padahal Peraturan menteri ESDM Nomor 8 Tahun 2017 Tentang Kontrak Bagi Hasil Gross Split sudah terbit Januari lalu.
Sebelunmya, konsultan dan lembaga riset di bidang energi, logam dan tambang Wood Mackenzie menerbitkan analisis pada Maret 2017 lalu, skema bagi hasil gross split justru berdampak negatif bagi keekonomian proyek hulu migas, dibandingkan dengan skema cost recovery.
Direktur Operasi PT Medco Energi lnternasional,Tbk Ronald Gunawan mengaku, pihaknya telah mengkaji perhitungan keekonomian di empat kontrak bagi hasil yang terdiri dari dua blok minyak dan dua blok gas. Dari kajian tersebut, menurut Ronald, kontrak blok minyak dengan tingkat investasi tidak terlalu tinggi masih cukup ekonomis menggunakan gross split.
Tapi, kontrak blok migas dengan profil investasinya tinggi, dari sisi tingkat keekonomian lapangan antara gross Split dengan kontrak bagi hasil cost recovery. Kalau saya melihat dari asumsi itu, gross split tidak lebih menarik dari bagi hasil cost recovery karena time value money, kata Ronald, saat diskusi gross split di Kantor SKK Migas, City Plaza, Jakarta Selatan, Senin (8/5).
Sementara Arcandra meminta KKKS menghitung ulang dengan memasukan faktor percepatan waktu yang bisa didapat jika menggunakan skema gross split. Dengan begitu akan ada biaya yang dihemat.
Kontan, Page-14, Tuesday, May, 9, 2017
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