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Monday, May 29, 2017

Oil and Gas Lifting Can be Crushed Gross Split



Indonesia's oil and gas production and lifting target is likely to decline this year and in the coming period. Because investment in the oil and gas sector continues to shrink. Entrepreneurs blame the government for this because of wrong policy.

     The criticism was conveyed by the Chairman of the Indonesian Employers Association (Apindo), Hariyadi Srikamdani at Indonesian Petroleum Association (IPA) Convention and Exhibition in Jakarta, Wednesday (18/5). 

According to him, the gross split scheme in oil and gas investment becomes a disincentive for the entrepreneurs. Because the rate of return is reflected in the internal rate of return (IRR) is relatively small.

"This investment scheme is not something that we are passionate about, and at the end, we are always talking about a sizeable IRR, which does not seem to be considered by the government," Hariyadi said.

Employers will be interested in investing in a country if the IRR offered is high. With the gross split scheme, Hariyadi believes investment in the oil and gas sector will not grow. "Is our oil and gas sector attractive? Is our policy really interesting? I do not see it that way. The proof, now the investor's response is very low. Investments are getting weaker. Though oil and gas sector most need investors, "he added.

Therefore, the government should review the gross split scheme. For, if no oil and gas investment goes to, Indonesia, then the long term is national energy availability. Especially so far oil and gas lifting tend to weaken.

      In 2012, oil lifting reached 860,000 barrels per day (bpd), down to 825,000 bpd in 2013, 2015 794,000 bpd, and 778,000 bpd. "We have to think long-term for our energy sector reserves.If we do not do a comprehensive step there will be a problem, we as end users will face problems," said Hariyadi.

Director of Non-Tax State Revenue (PNBP) Directorate General of Budget of the Ministry of Finance Mariatul Aini who attended the event said that the gross split scheme gives benefits to the country. This is already proven in the North Sumatra Java Offshore block contract (ONWJ) managed by PT Pertamina Hulu Energi PHE) changes from cost recovery to gross split.

"We are seeing an increase in state revenue," Aini said. Not only the state revenue, according to Ministry of Finance data, cost recovery is also increasing every year. Even greater than the ceiling set in the APBN.

     For example, in 2012, the ceiling in APBN is only US $ 12.3 Billion, but the realization reached US $ 15.6 billion. In 2016, the realization reached US $ 11.6 billion, while only budgeted US $ 8.9 billion.

IN  INDONESIAN

Lifting Migas Bisa Tergerus Gross Split


Target produksi/lifting minyak dan gas  Indonesia berpotensi semakin turun pada tahun ini dan periode mendatang. Pasalnya, investasi di sektor migas terus menyusut. Pengusaha menyalahkan pemerintah atas hal ini karena salah mengambil kebijakan.  

     Kritik itu disampaikan Ketua Umum Asosiasi Pengusaha Indonesia (Apindo), Hariyadi Srikamdani di Indonesian Petroleum Association (IPA) Convention and Exhibition di Jakarta, Rabu (18/5). 

Menurutnya, skema gross split dalam investasi migas justru menjadi disinsentif bagi pengusaha. Pasalnya, tingkat pengembalian yang tergambar dalam internal rate of return (IRR) relatif kecil.

"Skema investasi ini bukan sesuatu yang buat kita semangat. Di akhir, kita selalu berbicara mengenai IRR pengembalian yang cukup besar. Ini sepertinya tidak dipertimbangkan pemerintah," kata Hariyadi. 

Pengusaha akan tertarik berinvestasi di suatu negara jika IRR yang ditawarkan tinggi. Dengan skema gross split, Hariyadi yakin, investasi di sektor migas tidak akan berkembang. “Apakah sektor migas kita sudah menarik? Apa kebijakan kita sudah betul-betul menarik? Saya tidak lihat seperti itu. Buktinya, sekarang tanggapan investor sangat rendah. Investasi makin melemah. Padahal sektor migas paling membutuhkan investor," tambahnya. 

Oleh karena itu, pemerintah harus meninjau kembali skema gross split. Sebab, jika tidak ada investasi migas yang masuk ke, Indonesia, maka jangka panjangnya adalah kebersediaan energi nasional. Apalagi selama ini lifting migas cenderung melemah. 

     Tahun 2012, lifting minyak mencapai 860.000 barel per hari (bph), turun menjadi 825.000 bph tahim 2013, 2015 794.000 bph, dan 778.000 bph. "Kita harus berpikir jangka panjang untuk cadangan sektor energi kita. Kalau kita tidak melakukan langkah komprehensif akan ada masalah, kami sebagai end user akan menghadapi masalah," kata Hariyadi.

Direktur Penerimaan Negara Bukan Pajak (PNBP) Direktorat Jenderal Anggaran Kementerian Keuangan, Mariatul Aini yang hadir di acara tersebut menilai, skema gross split memberikan keuntungan bagi negara Ini sudah terbukti pada kontrak blok Offshore North West Java (ONWJ) yang dikelola PT Pertamina Hulu Energi (PHE) berubah dari cost recovery ke gross split. 

"Kami melihat ada peningkatan penerimaan negara," kata Aini. Tidak hanya penerimaan negara, menurut data Kementerian Keuangan, cost recovery juga selalu bertambah besar setiap tahun. Bahkan lebih besar dari pagu yang ditetapkan dalam APBN.

      Misal, pada 2012, pagu dalam APBN hanya US$ 12,3 Miliar, tapi realisasinya mencapai US$ 15,6 miliar. Pada 2016 lalu, realisasi mencapai US$ 11,6 miliar, padahal hanya dianggarkan US$ 8,9 miliar.

Kontan, Page-2, Friday, May 19, 2017

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