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Thursday, August 3, 2017

Note Pick up Ball



During his working visit to the United States for most of last week, Energy and Mineral Resources Minister Ignatius Jonan met the top giant oil and gas companies Chevron, ConocoPhilips and Exxon. The essence of the visit is to attract investment in the oil and gas sector to Indonesia.

In Indonesia, Chevron, ConocoPhilips, and Exxon crude oil production, combined with 55 percent of Indonesia's total oil lifting production. In 2016, the three contributed 461,757 barrels per day and total lifting reached 832,000 barrels per day.

In an official statement of the Ministry of Energy and Mineral Resources, the government is also introducing the new oil and gas business scheme in Indonesia. The crucial policies issued by the government related to upstream oil and gas investment are among others Government Regulation (PP) No. 27 of 2017, as revised Government Regulation No. 79/2010 on Refundable Operating Costs and Treatment of Income Tax in Upstream Oil and Gas Business Sector, Regulation of Minister of Energy and Mineral Resources No. 8/2017 on Gross Split Distribution Contract.

Government Regulation No. 27/2017 regulates incentives granted by the government to upstream oil and gas investors in the form of abolition of import duty, reduction of land and building tax, and exemption of Value Added Tax or Sales Tax on Luxury Goods. The Regulation of the Minister of Energy and Mineral Resources No. 8/2017 regulates a new oil and gas revenue sharing scheme, from the previous profit sharing with the concept of recoverable operating cost (cost recovery) to profit sharing based on gross production (gross split).

According to one professional of the oil and gas sector, the concept of gross split introduced by the government is no more attractive than the concept of cost recovery. Therefore, investors should bear the full risk of investment during the contract period. The concept of gross split needs further verification because it has just been tested on PT Offshore North West Java which is fully managed by PT Pertamina since the beginning of this year.

From the point of view of the government, the Regulation of Minister of Energy and Mineral Resources No. 8/2017 and Government Regulation No. 27/2017 is one way out in the upstream oil and gas investment crisis in Indonesia Toward 2014 Cap is the beginning of the upstream oil and gas crisis that sweeps the whole world, not to mention Indonesia. Oil prices that were above 100 US dollars per barrel fell to less than 50 US dollars per barrel. In fact, in early 2016 had dropped dramatically to below 30 US dollars per barrel.

Based on the record of the Indonesian Petroleum Association (IPA), Indonesia's upstream oil and gas investment climate is difficult to say, including when oil prices are low today. The so-called classic problem of making investments worse is licensing. Mentioned, there are 373 types of licenses to be administered upstream oil and gas investors in 19 ministries and agencies, including licensing in the region. Indonesia's fiscal incentives are also called less competitive than other countries.

The Special Working Unit for Upstream Oil and Gas Business (SKK Migas) acknowledges that Indonesia's upstream oil and gas business processes are heavily influenced by non-technical factors. Since the upstream oil and gas contract is signed, the exploration and exploitation process takes up to 9 years.

In fact, if there are technical obstacles, such as land acquisition can be up to 16 years, the central government may mention that it has simplified the permit. However, oil and gas affairs are not merely through the center. Local governments also have interests that are not less big, especially since the era of regional autonomy applied.

The government formula to provide incentives or ease of licensing must be thorough to the location of oil and gas resource location. The ease of doing business or incentives should really exist. From central to oil field is located. Oil and gas investment ball is not enough to be picked up, but must be treated and accompanied to completion.

IN INDONESIA

Catatan Jemput Bola


Dalam kunjungan kerjanya ke Amerika Serikat hampir sepanjang pekan lalu, Menteri Energi dan Sumber Daya Mineral Ignasius Jonan bertemu pucuk pimpinan perusahaan minyak dan gas bumi raksasa, yaitu Chevron, ConocoPhilips, dan Exxon. Intisari kunjungan itu adalah untuk menarik investasi di sektor minyak dan gas bumi ke Indonesia.

Di Indonesia, produksi minyak mentah Chevron, ConocoPhilips, dan Exxon, jika digabungkan setara dengan 55 persen dari total produksi siap jual (lifting) minyak Indonesia. Pada 2016, ketiganya menyumbang 461.757 barrel per hari dan total realisasi lifting yang mencapai 832.000 barrel per hari.

Dalam keterangan resmi Kementerian ESDM, pemerintah juga sedang mengenalkan skema bisnis migas di Indonesia yang baru. Kebijakan krusial yang dikeluarkan pemerintah terkait dengan investasi hulu migas antara lain Peraturan Pemerintah (PP) Nomor 27 Tahun 2017, sebagai revisi Peraturan Pemerintah No 79/2010 tentang Biaya Operasi yang Dapat Dikembalikan dan Perlakuan Pajak Penghasilan di Bidang Usaha Hulu Minyak dan Gas Bumi, serta Peraturan Menteri ESDM No 8/2017 tentang Kontrak bagi Hasil Gross Split.

Peraturan Pemerintah No 27/2017 mengatur insentif yang diberikan pemerintah kepada investor hulu migas berupa penghapusan bea masuk, pengurangan Pajak Bumi dan Bangunan, serta pembebasan Pajak Pertambahan Nilai atau Pajak Penjualan terhadap Barang Mewah. Adapun Peraturan Menteri ESDM No 8/2017 mengatur skema baru bagi hasil migas, dari yang sebelumnya bagi hasil dengan konsep biaya operasi yang dapat dipulihkan (cost recovery) menjadi bagi hasil berdasar produksi bruto (gross split).

Menurut salah satu profesional sektor migas, konsep gross split yang dikenalkan pemerintah tidak lebih menarik daripada konsep cost recovery. Sebab, investor harus menanggung penuh risiko investasi selama masa kontrak. Konsep gross split memang perlu pembuktian lebih jauh karena baru diujicobakan pada blok Offshore North West Java yang dikelola penuh PT Pertamina sejak awal tahun ini.

Dari kacamata pemerintah, Peraturan Menteri ESDM No 8/2017 dan Peraturan Pemerintah No 27/2017 adalah salah satu jalan keluar di saat krisis investasi hulu migas di Indonesia Menjelang Tutup tahun 2014 adalah awal dari krisis hulu migas yang melanda seluruh dunia, tidak terkecuali Indonesia. Harga minyak yang saat itu di atas 100 dollar AS per barrel turun sampai menjadi kurang dari 50 dollar AS per barrel. Bahkan, pada awal 2016 sempat turun drastis sampai di bawah 30 dollar AS per barrel.  

Berdasarkan catatan Asosiasi Perminyakan Indonesia (IPA), iklim investasi hulu migas Indonesia sulit dikatakan menarik, termasuk pada saat harga minyak rendah saat ini. Masalah klasik yang disebut membuat investasi terpuruk adalah perizinan. Disebutkan, ada 373 jenis izin yang harus diurus investor hulu migas di 19 kementerian dan lembaga, termasuk perizinan di daerah. Insentif fiskal Indonesia juga disebut kurang kompetitif dibandingkan dengan negara lain.

Pihak Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mengakui, proses bisnis hulu migas Indonesia sangat dipengaruhi faktor non-teknis. Sejak kontrak hulu migas ditandatangani, proses eksplorasi dan eksploitasi memerlukan waktu sampai 9 tahun. 

Bahkan, jika ada kendala teknis, seperti pembebasan lahan bisa sampai hingga 16 tahun, Pemerintah pusat boleh saja menyebut sudah menyederhanakan izin. Akan tetapi, urusan migas tidak melulu melalui pusat. Pemerintah daerah juga punya kepentingan yang tidak kalah besar, apalagi sejak era otonomi daerah diberlakukan.

Formula pemerintah memberikan insentif ataupun kemudahan perizinan harus menyeluruh hingga di daerah lokasi sumber migas berada. Kemudahan berbisnis ataupun insentif harus benar-benar ada. Dari pusat sampai ke lapangan migas berada. Bola investasi migas tidak cukup dijemput, tetapi harus dirawat dan didampingi sampai tuntas.

Kompas, Page-17, Thursday, August 3, 2017

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