Indonesia's upstream oil and gas industry is facing a crisis and the investment value of this sector is declining. The upstream oil and gas crisis is domino effect of decreasing oil and gas reserves and low world oil price. Data from the Special Operations Executing Unit (SKK Migas) showed that investment in Indonesia's upstream oil and gas sector in 2016 declined 27 percent compared to 2015, from US $ 15.34 billion to US $ 11.15 billion. That is, Indonesia lost investment of US $ 4.19 billion or Rp 55 triIiun (assuming the exchange rate of USD 13300) from upstream oil and gas last year.
One of the causes of low investment due to depletion of oil and gas reserves. Executive Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong said Indonesia's oil reserves are declining from 3.7 billion barrels in 2012 to 3.3 billion barrels in 2016. The decline in reserves also occurs in gas, although not as much as oil .
According to Marjolijn, with the decline of these investments, automatically activity in the upstream sector of oil and gas decreased mainly exploration. In 2013, exploration investment reached US $ 1.4 billion while in 2016 only US $ 100 million or 1% of total investment last year. Only 1% in exploration whereas we have to add reserves for the long term, "said Marjolijn.
Unavoidable, the lack of investment in upstream oil and gas causes slowing economic growth around mining working areas. Based on IPA data, areas such as Rokan Hilir-Riau, Tanjung Jabung Timur-Jambi, Musi Banyuasin, Kutai Kartanegara, Natuna, Kampar, Penajam Paser Utara and Sorong experienced economic slowdown.
Only Siak and Bengkalis areas are still showing economic growth. "Only two areas did not go down, others went down all the way, obviously the regional economy is slowing down," Marjolijn sighed.
In fact, according to CEO of Saka Energi Indonesia Tumbur Parlindungan, upstream oil and gas industry not only contributes revenue to the country, but creates added value for the economy. Each US $ 1 million investment brings US $ 1.6 million added value, additional US $ 700 million of bruto domestic product (GDP), and employment creation of 100 people.
"If the oil and gas investment is large, then the effect to economic growth is also greater," said Tumbur, who is also Director of IPA.
Even Marjolijn states, the upstream oil and gas sector in Indonesia in a crisis condition during the slump in oil prices. Unfortunately, the oil and gas investment climate in the country is less attractive to investors, although the potential is quite large.
IPA President Christina Verchere added that the cash flow of oil and gas companies, both on a global and local scale, is very limited. Thus, only projects with good opportunities can get funding.
IN INDONESIAN
Cadangan Anjlok, Bisnis Hulu Migas Turun
Industri hulu minyak dan gas Indonesia menghadapi krisis dan nilai investasi sektor ini terus turun. Krisis hulu migas ini efek domino cadangan migas yang semakin menipis dan rendahnya harga minyak dunia. Data Satuan Kerja Khusus Pelaksana Kegiatan Usaha (SKK Migas) menunjukkan, investasi di sektor hulu migas Indonesia pada tahnn 2016 menurun 27% dibanding 2015, dari US$ 15,34 miliar menjadi US$ 11,15 miliar. Artinya, Indonesia kehilangan investasi US$ 4,19 miliar atau Rp 55 triIiun (dengan asumsi kurs dollar Rp 13300) dari hulu migas pada tahun lalu.
Salah satu penyebab rendahnya investasi karena menipisnya cadangan migas. Direktur Eksekutif Indonesian Petroleum Association (IPA) Marjolijn Wajong menyebutkan, cadangan minyak Indonesia semakin menurun, dari 3,7 miliar barrel pada tahun 2012, menjadi tinggal 3,3 miliar barel di tahun 2016. Penurunan cadangan juga terjadi pada gas, meski tidak sebanyak minyak.
Menuru Marjolijn, dengan penurunan investasi tersebut, secara otomatis aktivitas di sektor hulu migas menurun terutama eksplorasi. Pada 2013, investasi eksplorasi mencapai US$ 1,4 miliar sedangkan di 2016 hanya US$ 100 juta atau 1% dari total investasi tahun lalu. Hanya 1% di eksplorasi padahal kita harus menambah cadangan untuk jangka panjang," kata Marjolijn.
Tidak dapat dihindari, minimnya investasi di hulu migas menyebabkan pelambatan pertumbuhan ekonomi disekitar wilayah kerja pertambangan. Berdasarkan data IPA, wilayah seperti Rokan Hilir-Riau, Tanjung Jabung Timur-Jambi, Musi Banyuasin, Kutai Kartanegara, Natuna, Kampar, Penajam Paser Utara, dan Sorong mengalami pelambatan ekonomi.
Hanya daerah Siak dan Bengkalis yang masih menunjukan pertumbuhan ekonomi. "Hanya dua daerah yang tidak turun, yang lain turun semua. Terlihat jelas ekonomi daerah melambat," keluh Marjolijn.
Padahal, menurut CEO Saka Energi Indonesia Tumbur Parlindungan, industri hulu migas tidak hanya menyumbang pendapatan bagi negara, tapi menciptakan nilai tambah bagi perekonomian. Setiap investasi US$ 1 juta mendatangkan nilai tambah US$ 1,6 juta, tambahan produk domestik bruto (PDB) US$ 700 juta, dan penciptaan lapangan kerja sebanyak 100 orang.
"Kalau investasi migas banyak, maka efek ke pertumbuhan ekonomi juga Iebih besar," kata Tumbur, yang juga Direktur IPA.
Bahkan Marjolijn menyatakan, sektor hulu migas Indonesia dalam kondisi krisis di saat lesunya harga minyak. Celakanya, iklim investasi migas di dalam negeri kurang menarik bagi investor, meski potensinya cukup besar.
Presiden IPA Christina Verchere menambahkan cash flow perusahaan migas, baik skala global dan lokal sangat terbatas. Sehingga, hanya proyek yang memiliki peluang bagus bisa mendapat pendanaan.
Kontan, Page-14, Friday, May, 12, 2017
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