Oil and Gas Investment Shrink

Without Exploration, Production Can Be Out

Investment in the oil and gas sector continues to decline. Marjolijn Elisabeth Wajong, Executive Director of Indonesian Petroleum Association (IPA) said that upstream oil and gas investment in Indonesia in 2016 decreased 27 percent compared to the previous year.

Marjolijn said the total investment decreased from USD 15.34 billion to USD 11.15 billion. The decline in investment in oil and gas sector is correlated with the depletion of oil and gas reserves. The decline in world crude oil prices that occurred since mid-2014 resulted in oil and gas contractors to make efficiency. Including reducing investment spending.

As a result, national oil and gas reserves decline due to the lack of exploration activities. Marjolijn details that oil and gas exploration areas since 2012-2016 decreased. In 2012, there are 233 exploration areas. Then, in 2013 there are 238 Regions, 2014 there are 235 Regions, 2015 there are 228 regions, and 2016 there are only 199 exploration areas. In 2016, there are 199 exploration areas with details of 110 working areas (WK) of active oil and gas 52 WK conventional, and 37 WK termination process.

The lack of exploration areas made the discovery of new oil and gas reserves in Indonesia also shrink. Marjolijn explained that the amount of proven oil reserves continues to decline from 3.7 billion barrels in 2013 to 3.3 billion barrels today.

Marjolijn continued, if there is no continuous additional new reserves, Indonesia's oil production will run out soon. In fact, the potential for oil and gas is still high. However, exploration activities are needed to make them as proven reserves. If the investment climate is not improved, the oil and gas potentials will not be touched.

IPA assumes that it is necessary to improve regulations and policies so that the upstream oil and gas sector in Indonesia will be more attractive. There have been efforts from the government such as revising Government Regulation Nornor 79 Year 2010, simplification of licensing, and so forth. We were very much involved last year in the revision of PP 79 / 2010. I hear that now it is in the hands of the president. So, we'll see.

On the other hand, upstream oil and gas sector actually has multiple effects for national economic growth. Tumbur Parlindungan's Treasury of Indonesian Petroleum Association (IPA) said the double effect is starting from the utilization of local products to transactions through national banks.

IN INDONESIAN

Investasi Migas Menyusut

Tanpa Eksplorasi, Produksi Bisa Habis

Investasi di sektor  migas terus menurun. Executive Director of Indonesian Petroleum Association (IPA) Marjolijn Elisabeth Wajong menuturkan, investasi sektor hulu minyak dan gas Indonesia pada 2016 menurun 27 persen jika dibandingkan dengan tahun sebelumnya.

Marjolijn menyatakan, jumlah investasi menurun dari USD 15,34 miliar menjadi USD 11,15 miliar Menurunnya investasi di sektor migas itu berkorelasi dengan susutnya cadangan migas. Turunnya harga minyak mentah dunia yang terjadi sejak pertengahan 2014 mengakibatkan kontraktor migas melakukan efisiensi. Termasuk mengurangi belanja investasi.

Akibatnya, cadangan migas nasional menurun karena minimnya kegiatan eksplorasi. Marjolijn memerinci, wilayah eksplorasi migas sejak 2012-2016 menurun. Pada 2012, terdapat 233 wilayah eksplorasi. Kemudian, pada 2013 ada 238 Wilayah, 2014 ada 235 Wilayah, 2015 ada 228 wilayah, dan 2016 hanya ada 199 Wilayah eksplorasi. Pada 2016, ada 199 wilayah eksplorasi dengan perincian 110 wilayah kerja (WK) migas aktif 52 WK konvensional, dan 37 WK proses terminasi.

Minimnya wilayah eksplorasi membuat penemuan cadangan migas baru di Indonesia juga menyusut. Marjolijn menjelaskan, jumlah cadangan minyak terbukti terus merosot dari 3,7 miliar barel pada 2013 menjadi 3,3 miliar barel saat ini. 

    Marjolijn melanjutkan, jika terus-menerus tidak ada tambahan cadangan baru, produksi minyak Indonesia segera habis. Padahal, potensi migas masih banyak. Namun, diperlukan kegiatan eksplorasi untuk menjadikannya sebagai cadangan terbukti.  Kalau iklim investasi tidak diperbaiki, potensi-potensi migas itu tidak akan tersentuh.

IPA beranggapan, diperlukan perbaikan regulasi-regulasi dan kebijakan agar sektor hulu migas Indonesia kembali atraktif. Memang sudah ada upaya dari pemerintah seperti merevisi Peraturan Pemerintah Nornor 79 Tahun 2010, penyederhanaan perizinan, dan sebagainya. Kami tahun lalu banyak sekali terlibat di dalam revisi PP 79 / 2010. Saya dengar sekarang berada di tangan presiden. Jadi, kami lihat saja.

Di sisi Iain, sektor hulu migas sebenarnya memiliki efek berganda bagi pertumbuhan ekonomi nasional. Treasury of Indonesian Petroleum Association (IPA) Tumbur Parlindungan mengungkapkan, efek berganda tersebut terhitung mulai pemanfaatan produk lokal hingga transaksi melalui perbankan nasional.

Jawa Pos, Page-6, Thursday, May, 11, 2017