Upstream Oil and Gas Investment Not Recovered

Upstream oil and gas investment climate in Indonesia throughout 2017 has not yet recovered. A number of targets are not reached. There is an increase in state revenues as crude oil prices are rising although not significant.

In the explanation of the upstream oil and gas sector 2017 performance by the Upstream Oil and Gas Upstream Business Unit (SKK Migas), the realization of exploration and production investment is mentioned at 9.33 billion US dollars (almost Rp 126 trillion). This is still below the target of 12.9 billion US dollars (almost Rp 166 trillion).

Of the total investment, the realization of investment for exploration amounted to Rp 2.4 trillion or only 20 percent of the target of Rp 11.7 trillion.

"The realization for such exploration is very small. That's what spends only on big contractors. Small contractors do not exist, "said Head of SKK Migas Amien Sunaryadi.

Amien Sunaryadi

Amien said SKK Migas will seek to make exploration investment increase from time to time. The classic problem of obstacles to exploration activities, among others, is licensing. SKK Migas needs the support of many parties to make exploration activities in the field easier.

"In addition, investors should also not delay the process of holding goods and services during the exploration period," he said.

Deputy Head of SKK Migas Sukandar added that upstream oil and gas investment in 2017 is still affected by oil price. Investment planning in 2017 was made in previous years. Throughout 2016, the average price of crude oil is less than 40 US dollars per barrel.

"We expect this year there will be an increase in investment as oil prices continue to rise. In fact, WTI and Brent oil prices already exist above 60 US dollars per barrel. This is an opportunity for investors, "said Sukandar.

The realization of "lifting" low achievement of the production of ready-to-sell (lIifting) of oil in 2017 was recorded as much as 803,800 barrels per day. This achievement is lower than the benchmark APBN Change 2017 as much as 815,000 barrels per day.

Similarly, natural gas emissions are realized as much as 6.386 million standard cubic feet per day (MMSCFD). Achievements are or lower than the target, ie 6440 MMSCFD.

Deputy of Oil and Natural Gas Planning Jafee Arizon Suardin said the target of upstream oil and gas investment this year is set at 12.6 billion US dollars, equivalent to Rp 170 trillion. Of that amount, 810 million US dollars or Rp 10.9 trillion is allocated for exploration activities, the rest is for production. By 2018, there will be drilling of 103 exploration wells.

"The two-dimensional seismic survey plan in 2018 covers 1,753 square kilometers and a three-dimensional seismic survey of 356 square kilometers," said Jafee.

Although the target of oil and natural gas is not achieved, the realization of state revenue from the sector has increased. The realization of state revenues from upstream oil and gas activities in 2017 was 13.1 billion US dollars (Rp 176.8 trillion), higher than the benchmark APBN Change 2017 of 12.2 billion US dollars (Rp 164.7 trillion). The increase in crude oil price throughout 2017 allows for an increase in revenue of upstream oil and gas sector.

Up to the year 2026, there are 34 working areas upstream oil and natural gas out of contract period. The government is expected to be able to immediately decide on the continuation of operations in the 34 working areas. Thus, investment plans can be arranged in advance and delays in activities can be prevented or avoided.

IN INDONESIA

Investasi Hulu Minyak dan Gas Bumi Belum Pulih

Iklim investasi hulu minyak dan gas bumi di Indonesia sepanjang 2017 belum pulih. Sejumlah target tidak tercapai. Ada peningkatan penerimaan negara karena harga minyak mentah yang meningkat meskipun belum signifikan.

Dalam paparan kinerja sektor hulu minyak dan gas bumi 2017 oleh Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), realisasi investasi eksplorasi dan produksi disebutkan sebanyak 9,33 miliar dollar AS (hampir Rp 126 triliun). Ini masih di bawah target 12,9 miliar dollar AS (hampir Rp 166 triliun).

Dari total investasi itu, realisasi investasi untuk eksplorasi sebesar Rp 2,4 triliun atau hanya 20 persen dari target yang sebanyak Rp 11,7 triliun.

”Realisasi untuk eksplorasi sejumlah itu sangat kecil. Itu pun yang membelanjakannya hanya kontraktor-kontraktor besar. Kontraktor yang kecil-kecil tidak ada,” kata Kepala SKK Migas Amien Sunaryadi.

Amien mengatakan, SKK Migas akan berupaya agar investasi eksplorasi meningkat dari waktu ke waktu. Masalah klasik yang menjadi hambatan kegiatan eksplorasi, antara lain adalah perizinan. SKK Migas memerlukan dukungan banyak pihak agar kegiatan eksplorasi di lapangan menjadi lebih mudah.

”Selain itu, investor sebaiknya juga tidak menunda-nunda proses mengadakan barang dan jasa selama masa eksplorasi,” ujarnya.

Wakil Kepala SKK Migas Sukandar menambahkan, investasi hulu migas sepanjang 2017 masih dipengaruhi harga minyak Perencanaan investasi di 2017 dibuat pada tahun-tahun sebelumnya. Sepanjang 2016, rata-rata harga minyak mentah kurang dari 40 dollar AS per barrel.

”Kami berharap tahun ini ada peningkatan investasi mengingat harga minyak terus naik. Bahkan, harga minyak jenis WTI dan Brent sudah ada di atas 60 dollar AS per barrel. Ini kesempatan bagi investor,” kata Sukandar. 

Realisasi ”lifting” rendah pencapaian produksi siap jual (lifting) minyak 2017 tercatat sebanyak 803.800 barrel per hari. Pencapaian ini lebih rendah dari patokan APBN Perubahan 2017 yang sebanyak 815.000 barrel per hari.

Demikian pula, Iifting gas bumi yang terealisasi sebanyak 6.386 juta standar kaki kubik per hari (MMSCFD). Pencapaian tersebut atau lebih rendah daripada target, yakni 6.440 MMSCFD.

Deputi Perencanaan SKK Migas Jafee Arizon Suardin mengatakan, target investasi hulu migas tahun ini dipatok 12,6 miliar dollar AS, setara Rp 170 triliun. Dari jumlah itu, 810 juta dollar AS atau Rp 10,9 triliun dialokasikan untuk kegiatan eksplorasi, selebih-nya untuk produksi. Pada tahun 2018, direncanakan terdapat pengeboran terhadap 103 sumur eksplorasi.

”Rencana survei seismik dua dimensi pada 2018 seluas 1.753 kilometer persegi dan survei seismik tiga dimensi seluas 356 kilometer persegi,” ujar Jafee.

Meskipun target Iifting minyak dan gas bumi tidak tercapai, realisasi penerimaan negara dari sektor itu meningkat. Realisasi penerimaan negara dari kegiatan hulu migas 2017 adalah 13,1 miliar dollar AS (Rp 176,8 triliun), lebih tinggi daripada patokan APBN Perubahan 2017 yang sebesar 12,2 miliar dollar AS (Rp 164,7 triliun). Kenaikan harga minyak mentah sepanjang 2017 memungkinkan adanya peningkatan penerimaan sektor hulu migas ini.

Sampai dengan tahun 2026, terdapat 34 Wilayah kerja hulu migas yang alam habis masa kontraknya. Pemerintah diharapkan segera bisa memberi keputusan mengenai kelanjutan operasi pada 34 Wilayah kerja tersebut. Dengan demikian, rencana investasi bisa disusun jauh-jauh hari dan penundaan kegiatan bisa dicegah atau dihindari.

Kompas, Page-17, Saturday, Jan 6, 2018