The investment of exploration blocks throughout 2017 is only US $ 180 million from the target of US $ 870 million
Upstream oil and gas investment climate has not recovered. Even though oil prices began to improve during the second half of 2017 until now, the realization of upstream oil and gas investment is still low. Even compared to the year 2016 declined considerably.
Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) notes that upstream oil and gas investment throughout 2017 amounting to US $ 9.33 billion, far from the target of US $ 12.29 billion. The realization of oil and gas investment throughout 2017 also fell from the realization of oil and gas investment in 2016 which amounted to US $ 11.4 billion.
SKK Mgas also noted that the realization of investment activities in the exploitation block in 2017 is only US $ 9.15 billion, while SKK Migas targets investment in the exploitation block to be US $ 11.42 billion.
The saddest thing is the investment of exploration block activity which is only US $ 180 million. Whereas the target of activities in the exploration block last year amounted to US $ 870 million.
Amien Sunaryadi
Head of SKK Migas Amien Sunaryadi explained that exploration activities starting from seismic studies and drilling activities require many permits. So far, SKK Migas has tried to help KKKS take care of the permit.
On the other hand, investment for exploration also requires a procurement process that takes time. Amien hopes that the process of licensing and procurement of seismic activities and oil and gas drilling could be faster to increase investment.
"From the investment side, the exploration is still small, but it needs support from various parties," Amien said at a press conference on Friday (5/1).
In addition to the licensing issue, Deputy Head of SKK Migas Sukandara added, the causes of the decline in oil and gas investment due to decreased capital expenditure alias capital expendditure (capex) last year. The decline in the capex is due to the low world oil price which makes the cost of production and exploration also decreased. When oil prices fall rig rent down, so shopping is cheaper.
"This also affects some rig rents down to half when oil prices are lower than when oil prices hit US $ 100 per barrel," Sukandar said.
Oddly Amien also mentioned that cost recovery in 2017 reached US $ 11.3 billion (unaudited) or higher than the Revised State Expenditure Budget (APBN-P) 2017.
"Cost recovery exceeds the set limit, reaching 100 percent of the target of APBN-P 2017 of US $ 10.7 billion," said Amien.
He mentioned that the biggest component is the production cost of 47 percent of the total cost recovery or US $ 5.3 billion, the depreciation cost of US $ 3.2 billion and the administrative cost of US $ 1.06 billion or 9 percent. Then the unrecoverable cost reaches 6% of the total cost recovery or US $ 792 million.
"So the rising oil price makes the gross oil and gas revenue increase," said Amien.
In addition to the above components, the increase in cost recovery is also triggered by exploration and development of US $ 747 million or equivalent to 7%. Then the remaining 2% comes from the investment credit.
IN INDONESIA
Investasi Migas Turun, Cost Recovery Malah Naik
Investasi blok eksplorasi sepanjang tahun 2017 hanya US$ 180 juta dari target US$ 870 juta
Iklim investasi hulu migas masih belum pulih. Biarpun harga minyak mulai membaik sepanjang semester II-2017 hingga kini, realisasi investasi hulu migas masih rendah. Bahkan dibandingkan dengan tahun 2016 menurun jauh.
Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mencatat, investasi hulu migas sepanjang 2017 hanya sebesar US$ 9,33 miliar atau jauh dibandingkan target sebesar US$ 12,29 miliar. Realisasi investasi migas sepanjang tahun 2017 juga turun daripada realisasi investasi migas tahun 2016 yang sebesar US$ 11,4 miliar.
SKK Mgas juga mencatat, realisasi investasi kegiatan di blok eksploitasi pada tahun 2017 hanya sebesar US$ 9,15 miliar, padahal SKK Migas menargetkan investasi di blok eksploitasi bisa sebesar US$ 11,42 miliar.
Paling menyedihkan lagi adalah investasi kegiatan blok eksplorasi yang hanya US$ 180 juta. Padahal target kegiatan di blok eksplorasi tahun lalu sebesar US$ 870 juta.
Kepala SKK Migas Amien Sunaryadi menerangkan, kegiatan ekplorasi yang dimulai dari studi seismik dan kegiatan pengeboran ini memerlukan banyak izin. Sejauh ini SKK Migas sudah mencoba membantu KKKS membereskan perizinan.
Di sisi Iain, investasi untuk eksplorasi juga memerlukan proses procurement yang membutuhkan waktu. Amien berharap, proses perizinan dan procurement kegiatan seismik dan pengeboran migas bisa lebih cepat untuk meningkatkan investasi.
"Dari sisi investasi, eksplorasi masih kecil. Ini ke depan perlu ditingkatkan. Tapi perlu dukungan berbagai pihak," kata Amien dalam jumpa pers pada Jumat (5/1).
Selain soal perizinan tersebut, Wakil Kepala SKK Migas Sukandara menambahkan, penyebab menurunnya investasi migas karena penurunan belanja modal alias capital expenditure (capex) tahun lalu. Penurunan capex tersebut seiring masih rendahnya harga minyak dunia yang membuat biaya produksi dan eksplorasi juga mengalami penurunan. Ketika harga minyak turun sewa rig turun, jadi belanja lebih murah.
"Ini juga berpengaruh, beberapa sewa rig turun sampai separuh pada saat harga minyak rendah dibandingkan pada saat harga minyak mencapai US$ 100 per barel,“ jelas Sukandar.
Anehnya Amien juga menyebut cost recovery pada tahun 2017 mencapai US$ 11,3 miliar (unaudit) atau lebih tinggi dibandingkan Anggaran Pendapatan Belanja Negara Perubahan (APBN-P) 2017.
"Cost recovery melebihi batas yang ditetapkan. Realisasinya mencapai 100% dari target APBN-P 2017 yang sebesar US$ 10,7 miliar," jelas Amien.
Dia menyebutkan komponen terbesar adalah biaya produksi sebesar 47% dari total cost recovery atau sebesar US$ 5,3 miliar, biaya depresiasi US$ 3,2 miliar dan biaya administrasi mencapai US$ 1,06 miliar atau 9%. Lalu unrecovery cost yang mencapai 6% dari total cost recovery atau sebesar US$ 792 juta.
"Jadi harga minyak yang naik menjadikan penerimaan migas gross naik," kata Amien.
Selain komponen di atas, kenaikan cost recovery juga dipicu adanya exploration and development US$ 747 juta atau setara 7%. Kemudian sisanya sebesar 2% berasal dari investment credit.
Kontan, Page-14, Saturday, Jan 6, 2018
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