Space refunds operating costs of upstream oil and gas activities or cost recovery are narrower in the Draft Budget of 2018. In a meeting with the House Budget Board on Monday (18/9), it was agreed that the cost recovery ceiling of US $ 10 billion or less than the estimated realization this year US $ 10.7 billion.
Director General of Oil and Gas Ego Syahrial said the House Budget Agency wants the upstream business activities to be more efficient. In addition, the assumption of policy changes from cost recovery to gross split so that the government no longer expenses to the contractor contractors (KKKS) is also expected to reduce cost recovery.
According to him, in the House Budget Board meeting has explained that the impact of reduction of ceiling of cost recovery from the application of gross split can not be felt next year. The reason, only one working area that uses a new contract type of gross split Offshore Block Nort West Java (ONWJ).
"They also hope that with the change of cost recovery policy to gross split we have already said that only ONWJ is using gross split," he said after attending a meeting at the Parliamentary Budget Board (DPR), Monday (18/9) night.
With the shrinking cost recovery space in the RAPBN 2018, efficiency must be done in order to remain able to achieve the target production of ready-to-sell or lifting oil and gas.
"It was recorded in the House Budget Agency, SKK Migas to perform efficiency measures because it has been reduced to US $ 10 billion," he said.
He assesses that the target decisions made during the meeting can still change if macro assumptions such as lifting and oil prices change. According to him, the assumption of cost recovery of US $ 10 billion refers to the target of oil and gas lifting in 2017. This year, Indonesian Crude Price (ICP) assumption is US $ 48 per barrel, oil lifting target is 815,000 bpd and gas 1.15 million boepd gas the government set a ceiling of cost recovery of US $ 10.4 billion
In 2018, with an oil lifting target of 800,000 bpd, gas lifting 1.2 million boepd of Indonesian crude oil or ICP price of US $ 48 per barrel and cost recovery of US $ 10 billion.
"The development of oil prices will determine how we step," he said.
Meanwhile, Deputy Chief of SKK Migas Sukandar said there are currently 86 production work areas with one of them using gross split contracts so that the impact on cost recovery reduction has not been seen next year.
Based on data from the Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) in August 2017, the cost recovery is realized US $ 7.22 billion from the target of US $ 10.4 billion with the government part of US $ 8.14 billion and contractor portion of US $ 2.87 billion.
BEYOND THE TARGET
He estimates that the realization of Coast recovery will exceed the target of US $ 10.7 billion. Previously, it was mentioned that the potential for additional cost recovery occurs at the end of the year as capital expenditure usually increases towards the end of the year.
This year, the largest increase of cost recovery by the end of the year comes from the Mahakam Block (Total E & P lndonesie) in East Kalimantan which ends its contract in 2017 of approximately US $ 900 million and Muara Bakau Block (Eni Muara Bakau BV) in East Kalimantan waters because the field is already producing .
"In 2017 we have a budget of US $ 10.5 billion will be US $ 10.7 billion [projection realization]," he said.
Initially, the costs returned by the government for upstream oil and gas business activities in 2018 amounted to US $ 11.39 billion. This figure is an assumption of efficiency from the initial figure of US $ 13.29 billion. The reason is, the burden of depreciation cost is increased with the onstream of Jangkrik field, Muara Bakau Block and Block A in Aceh.
The reduction of cost recovery is difficult to realize because no amount of ceiling is set for realization is always missed because of the many old wells that cost more to produce oil and gas. Currently, drilling activities in the field are easier to produce water than to produce oil and thus cost more to achieve production targets.
IN INDONESIA
Ruang Cost Recovery Tahun Depan Kian Sempit
Ruang pengembalian biaya operasi kegiatan usaha Hulu minyak dan gas Bumi atau cost recovery semakin sempit dalam RAPBN 2018. Dalam rapat dengan Badan Anggaran DPR, Senin (18/9), disepakati bahwa pagu cost recovery sebesar US$ 10 miliar atau lebih kecil dari perkiraan realisasi tahun ini US$ 10,7 miliar.
Direktur Jenderal Minyak dan Gas Bumi Ego Syahrial mengatakan Badan Anggaran DPR menginginkan agar kegiatan usaha hulu semakin efisien. Selain itu, asumsi perubahan kebijakan dari cost recovery ke gross split sehingga pemerintah tidak lagi mengeluarkan biaya pengembalian kepada kontraktor kontrak kerja sama (KKKS) juga diharapkan mengurangi cost recovery.
Menurutnya, dalam rapat Badan Anggaran DPR telah dijelaskan bahwa dampak pengurangan pagu cost recovery dari penerapan gross split belum bisa dirasakan tahun depan. Alasannya, hanya satu wilayah kerja yang menggunakan kontrak baru jenis gross split yakni Blok Offshore Nort West Java (ONWJ).
“Mereka juga berharap bahwa dengan perubahan kebijakan cost recovery ke gross split padahal kita sudah sampaikan bahwa hanya ONWJ yang menggunakan gross split,” ujarnya seusai menghadiri rapat di Badan Anggaran Dewan Perwakialn Rakyat (DPR) , Senin (18/9) malam.
Dengan mengecilnya ruang cost recovery dalam RAPBN 2018, efisiensi harus dilakukan agar tetap bisa mencapai target produksi siap jual atau lifting minyak dan gas bumi.
“Tadi catatannya di Badan Anggaran DPR, SKK Migas agar melakukan langkah-langkah efisiensi karena sudah ditekan jadi US$10 miliar," katanya.
Dia menilai ketetapan target yang dibuat selama rapat itu masih bisa berubah bila asumsi makro seperti lifting dan harga minyak berubah. Menurutnya, asumsi cost recovery sebesar US$ 10 miliar mengacu kepada target lifting migas pada 2017. Pada tahun ini, asumsi Indonesian Crude Price (ICP) US$ 48 per barel, target lifting minyak 815.000 bph, dan gas 1,15 juta boepd gas sehingga pemerintah menetapkan pagu cost recovery sebesar US$ 10,4 miliar
Pada 2018, dengan target lifting minyak 800.000 bph, lifting gas 1,2 juta boepd harga minyak mentah Indonesia atau ICP sebesar US$ 48 per barel dan cost recovery US$ 10 miliar.
“Perkembangan harga minyak akan menentukan langkah kita bagaimana," tegasnya.
Sementara itu, Wakil Kepala SKK Migas Sukandar mengatakan saat ini terdapat 86 wilayah kerja produksi dengan satu di antaranya yang menggunakan kontrak gross split sehingga dampaknya terhadap pengurangan cost recovery belum terlihat pada tahun depan.
Berdasarkan data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) pada Agustus 2017, cost recovery yang terealisasi US$ 7,22 miliar dari target US$ 10,4 miliar dengan bagian pemerintah sebesar US$ 8,14 miliar dan bagian kontraktor sebesar US$2,87 miliar.
MELAMPAUl TARGET
Dia memperkirakan realisasi Cost recovery akan melampaui target yakni menjadi US$ 10,7 miliar. Sebelumnya, disebutkan potensi penambahan cost recovery terjadi pada akhir tahun karena biasanya belanja modal bertambah menjelang pengujung tahun.
Pada tahun ini, penambahan terbesar cost recovery pada akhir tahun berasal dari Blok Mahakam (Total E&P lndonesie) di Kalimantan Timur yang berakhir kontraknya 2017 sekitar US$ 900 juta dan Blok Muara Bakau (Eni Muara Bakau BV) di perairan Kalimantan Timur karena lapangannya sudah berproduksi.
“Pada 2017 kita punya anggaran US$ 10,5 miliar akan menjadi US$ 10,7 miliar [proyeksi realisasinya],” katanya.
Awalnya, biaya yang dikembalikan pemerintah untuk kegiatan usaha hulu minyak dan gas bumi pada 2018 sebesar US$ 11,39 miliar. Angka ini merupakan asumsi efisiensi dari angka awalnya sebesar US$ 13,29 miliar. Alasannya, beban biaya depresiasi yang bertambah dengan onstream-nya lapangan Jangkrik, Blok Muara Bakau dan Blok A di Aceh.
Pengurangan cost recovery sulit direalisasikan karena berapa pun pagu yang ditetapkan realisasinya selalu meleset karena banyaknya sumur tua yang membutuhkan biaya lebih banyak agar bisa menghasilkan migas. Saat ini, kegiatan pengeboran di lapangan lebih mudah menghasilkan air daripada menghasilkan minyak sehingga membutuhkan biaya lebih agar target produksi bisa tercapai.
Bisnis Indonesia, Page-28, Wednesday, Sept 20, 2017
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