This revision will only raise incentive variables for the division basis to increase.
The Ministry of Energy and Mineral Resources (ESDM) finally revised the Regulation of the Minister of Energy and Mineral Resources No. 8/2017 on the Gross Split Revenue Contract. Deputy Minister of EMR, Arcandra Tahar explained, the revision is based on government evaluation and input from Contractor Cooperation Contracts (KKKS), especially those that are following the auction Working Area (WK) Oil and Gas 2017. He claimed, ESDM listened input from KKKS.
"We have said that every human product can be revised if things are found that are not exciting or less stimulating investment," said Arcandra, Tuesday (22/8)
Arcandra hopes revision of Ministerial Regulation number 8/2017 can be completed and published.
"Insya Allah in the near future," he said.
As an illustration, through a gross split scheme, the government provides the initial share of the larger split for the contractor. Namely base split for gas contractor part 48%, while government 52%.
While base oil split contractor part by 43% and government equal to 57%. Yet this initial revenue share includes all the investment and costs that contractors have to incur.
The government has no longer implemented cost recovery. Therefore, to sweeten, the government provides additional split of several variables
In the revision, the government will not only provide 5% split (share) for the first Plan of Development (POD), but will also add a 5% split in the second or continued PoD.
"If it's in a block, then there's a new PoD, this new field in a block, if not given incentives, will not develop? Well now we give the second POD also incentives," said Arcandra.
The addition of a split in the second PoD is based on the KKKS's suggestion that the gross split rule is made only on the basis of data from the existing fields, not counted from the field beginning to be explored. In addition, KKKS feels, in conducting exploration activities there is no incentive given by the government.
In addition, Arcandra also said the government will make Net Present Value (NVP) and Rate Of Return (ROR) the same or even greater than the scheme of production sharing contract aka Product Sharing Contract NPV equal to cost recovery PSC.
"Before we launch, we invite the KKKS to take the bid round, our discussion," he said.
The government will provide more variables for additional splits. Meanwhile, for existing variables and progressive splits will also be added from the revenue share.
Executive Director of Indonesian Petroleum Association (IPA) Marjolijn Wahjong said IPA basically requested that the fiscal term given could raise Indonesia's competition level to attract investment for the oil and gas industry to Indonesia.
Energy Observer from Gadjah Mada University Fahmi Radhi stated, gross split substance is correct and need not be revised again. More revisions to its application obligations. At the beginning of its application should not be required as a replacement of cost recovery, but as a complement.
"The contractor is given the option to choose gross split or cost recovery for five years," he said.
He was not sure the addition of base split stimulates contractors for investment in oil and gas.
"Contractors are already comfortable with PSC cost recovery, suddenly required to use gross split," he said.
IN INDONESIA
Aturan Skema Gross Split Migas Akhirnya Diubah
Revisi ini hanya akan menaikkan variabel insentif agar basis pembagian meningkat.
Kementerian Energi dan Sumber Daya Mineral (ESDM) akhirnya merevisi Peraturan Menteri ESDM Nomor 8/2017 tentang Kontrak Bagi Hasil Gross Split. Wakil Menteri ESDM, Arcandra Tahar menjelaskan, revisi tersebut berdasarkan evaluasi pemerintah dan masukan dari Kontraktor Kontrak Kerja Sama (KKKS) terutama yang sedang mengikuti lelang Wilayah Kerja (WK) Migas 2017. Ia mengklaim, ESDM mendengarkan masukan dari KKKS.
"Kami sudah bilang, setiap produk manusia ini bisa direvisi kalau ditemukan hal-hal yang tidak menggairahkan atau kurang menggairahkan investasi," kata Arcandra, Selasa (22/8)
Arcandra berharap revisi Peraturan Menteri nomor 8/2017 tersebut bisa segera selesai dan diterbitkan.
"Insya Allah dalam waktu dekat," katanya.
Sebagai gambaran, melalui skema gross split, pemerintah memberikan bagi hasil di awal alias base split lebih besar bagi kontraktor. Yaitu base split untuk gas bagian kontraktor 48%, sementara pemerintah 52%.
Sedangkan base split minyak bagian kontraktor sebesar 43% dan pemerintah sebesar 57 %. Namun bagi hasil di awal ini sudah termasuk seluruh investasi dan biaya yang harus dikeluarkan kontraktor.
Pemerintah sudah tidak menerapkan lagi cost recovery. Oleh karena itu untuk mempermanis, pemerintah menyediakan tambahan split dari beberapa variabel
Dalam revisi tersebut pemerintah tidak hanya memberikan tambahan split (bagi hasil) sebesar 5% untuk Plan of Development (POD) pertama, tetapi juga akan memberikan tambahan split sebesar 5% dalam PoD kedua atau lanjutan.
"Jika sudah ada dalam satu blok, kemudian ada PoD baru. Lapangan baru ini dalam satu blok, kalau tidak diberi insentif, apakah mau tidak mengembangkan? Nah sekarang kami beri POD kedua juga insentif," kata Arcandra.
Penambahan split dalam PoD kedua berdasarkan pada saran KKKS yang menilai aturan gross split dibuat hanya berdasarkan data dari lapangan-lapangan eksisting, bukan dihitung dari lapangan mulai dieksplorasi. Selain itu, KKKS merasa, dalam melakukan kegiatan eksplorasi tidak ada insentif yang diberikan pemerintah.
Selain itu, Arcandra juga bilang pemerintah akan membuat Net Present Value (NVP) dan Rate Of Return (ROR) yang sama atau bahkan lebih besar dari skema kontrak bagi hasil alias Product Sharing Contract NPV sama dengan PSC cost recovery.
"Sebelum kami launching, kami undang KKKS yang mengambil bid round, kami diskusi," ujarnya.
Pemerintah akan memberikan lebih banyak variabel untuk tambahan split. Sementara itu untuk variabel yang telah ada saat ini dan progresif split juga akan ditambahkan dari jumlah bagi hasilnya.
Direktur Eksekutif Indonesian Petroleum Association (IPA), Marjolijn Wahjong mengatakan, IPA pada dasarnya meminta agar fiscal term yang diberikan bisa menaikkan tingkat kompetisi Indonesia untuk menarik investment untuk industri minyak bumi dan gas ke Indonesia.
Pengamat Energi dari Universitas Gadjah Mada Fahmi Radhi menyatakan, subtansi gross split sudah benar dan tidak perlu direvisi Iagi. Revisi lebih pada kewajiban penerapannya. Di awal penerapannya tidak harus diwajibkan sebagai pengganti cost recovery, tetapi sebagai pelengkap.
"Kontraktor diberikan opsi memilih gross split atau cost recovery selama lima tahun," kata dia.
Ia tak yakin penambahan base split merangsang kontraktor untuk investasi di migas.
"Kontraktor sudah mersa nyaman dengan PSC cost recovery, tiba-tiba diharuskaan menggunakan gross split," kata dia.
Kontan, Page-18, Wednesday, August 23, 2017
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