30 Oil and Gas Blocks Using Gross Split Contracts

The Ministry of Energy and Mineral Resources (ESDM) claims that the cooperation contract (production sharing contract PSC) for gross split is attractive to investors. This can be seen from 30 oil and gas working areas (WK) using gross split PSC during the 2017-2018 period. 

    Of the 30 oil and gas blocks that use the gross PSC, 11 oil and gas blocks are the results of 2017 and 2018 auctions. The auction results for last year's oil and gas blocks are Block Andaman I, Andaman II, Merak Lampung, Pekawai, and West Yamdena.

While the auction results for 2018 oil and gas blocks are the Citarum Block, East Ganal, East Seram, Southeast Jambi, South Jambi B, and Banyumas. Furthermore, 19 other oil and gas blocks are termination blocks whose contract periods expire from 2017 to 2022. The oil and gas blocks whose contracts expire in 2017 are Offshore North West Java (ONWJ). Next, the oil and gas contracts ending 2018 are North Sumatra Offshore, Ogan Komering, South East Sumatra, Tuban, Sanga-Sanga, and East Kalimantan.

Oil and gas blocks whose contracts expire in 2019 are Jambi Merang, Raja / Non Bula Hall, Ceremonial and Ceremonial Hall. The terminated oil and gas blocks are Malacca Straits, Brantas, Salawati, and Bird Heads. While the WK whose contract expires in 2021 is Rokan (Chevron). Finally, the oil and gas blocks that ended in 2022 were the Tarakan Block, Coastal Plains and Pekanbaru (CPP), and Tungkal.

Deputy Minister of ESDM Arcandra Tahar said, the existence of 30 oil and gas blocks using gross split showed that the profit sharing scheme was attractive to investors.

"Until now there have been 30 contracts using gross split," Arcandra said in Jakarta.

Arcandra expects that the third phase of oil and gas block offering this year can be successful so that the number of oil and gas blocks that use gross split schemes is increasing. This scheme is expected to revive oil and gas investment in Indonesia because it provides many benefits and conveniences for investors.

However, if detailed, at the 2017 and 2018 oil and gas auctions, the number of interested parties is lower than the oil and gas block offered. At the 2017 auction, 15 oil and gas blocks were offered through regular auctions and direct offers.

However, only five oil and gas blocks were finally won by oil and gas companies. Then this year, there have been two stages of the auction being held. Of the 24 oil and gas blocks offered in the first phase of the auction, only 4 blocks were sold. Meanwhile for the second phase of the auction, 6 oil and gas blocks are offered, but only 2 blocks have the winner.

Separately, Energy Observer and Chair I of the Indonesian Petroleum Engineering Association (IATMI) Pri Agung Rakhmanto deemed it inappropriate if the gross split scheme was seen as an answer to the low oil and gas investment. Because, gross split is only one form of oil and gas contract that is not too thought by investors.

"Want to change the form of another contract, I think the results will be the same. The basic problem is not there, but in the overall investment climate. In this case, I think investors also see how the level of government support reaches the highest, concrete or not level of upstream oil and gas, "he said.

Pri Agung said that the increase in world oil prices had not contributed positively to investors who would try in the country. He said that Indonesia is still less competitive than other countries globally. In fact, he referred to the results of the Fraser Institute survey in 2017 which ranked Indonesia as the bottom 10.

"Since 2017 the global upstream oil and gas investment trend has gone up, we are still down," he said.

Based on data from the Ministry of Energy and Mineral Resources, investment in the upstream oil and gas sector has indeed not increased. In 2015, the realization of upstream oil and gas investment was recorded at US $ 15.04 billion. Then in the following year, the realization of this investment fell to US $ 12.01 billion. Upstream oil and gas investment is actually decreasing in 2017, which is US $ 9.3 billion. While the realization until September this year only reached US $ 7.9 billion from the target of US $ 14.2 billion.

IN INDONESIAN

30 Blok Migas Pakai Kontrak Gross Split

Kementerian Energi dan Sumber Daya Mineral (ESDM) mengklaim kontrak kerja sama (production sharing contract PSC) bagi hasil kotor (gross split) diminati investor. Hal ini terlihat dari sebanyak 30 wilayah kerja (WK) minyak dan gas bumi yang menggunakan PSC gross split selama periode 2017-2018. 

     Dari jumlah 30 blok migas yang menggunakan PSC gross split tersebut, sebanyak 11 blok migas merupakan hasil lelang 2017 dan 2018. Hasil lelang blok migas tahun lalu adalah Blok Andaman I, Andaman II, Merak Lampung, Pekawai, dan West Yamdena. 

Sedangkan hasil lelang blok migas 2018 adalah Blok Citarum, East Ganal, East Seram, Southeast Jambi, South Jambi B, dan Banyumas. Selanjutnya, 19 blok migas lainnya merupakan blok terminasi yang masa kontraknya berakhir mulai 2017 hingga 2022. 

    Blok migas yang kontraknya berakhir pada 2017 adalah Offshore North West Java (ONWJ). Berikutnya, kontrak migas yang berakhir 2018 adalah North Sumatera Offshore, Ogan Komering, South East Sumatera, Tuban, Sanga-Sanga, dan East Kalimantan.

Blok migas yang kontraknya berakhir 2019 adalah Jambi Merang, Raja/Pendopo, Bula, dan Seram Non Bula. Blok migas terminasi 2020 adalah Malacca Straits, Brantas, Salawati, dan Kepala Burung. Sementara WK yang kontraknya berakhir pada 2021 adalah Rokan. Terakhir, blok migas yang berakhir pada 2022 adalah Blok Tarakan, Coastal Plains and Pekanbaru (CPP), dan Tungkal.

Wakil Menteri ESDM Arcandra Tahar mengatakan, adanya 30 blok migas yang menggunakan gross split menunjukkan skema bagi hasil itu diminati investor. 

“Sampai sekarang sudah ada 30 kontrak menggunakan gross split,” kata Arcandra di Jakarta.

Arcandra mengharapkan, penawaran blok migas tahap ketiga tahun ini dapat berhasil baik sehingga jumlah blok migas yang menggunakan skema gross split semakin banyak. Skema ini diharapkan menggairahkan kembali investasi migas di Indonesia karena memberikan banyak keuntungan dan kemudahan bagi investor. 

Namun bila dirinci, pada lelang migas 2017 dan 2018, jumlah peminat lebih rendah dari blok migas yang ditawarkan. Pada lelang 2017 lalu, sebanyak 15 blok migas ditawarkan melalui lelang reguler dan penawaran langsung. 

Namun hanya lima blok migas yang akhirnya dimenangkan oleh perusahaan migas. Kemudian di tahun ini, sudah ada dua tahap lelang yang dilaksanakan. Dari 24 blok migas yang ditawarkan pada lelang tahap pertama, hanya 4 blok yang laku. Sementara untuk lelang tahap dua ditawarkan 6 blok migas, tetapi hanya 2 blok saja yang ada pemenangnya.

Secara terpisah, Pengamat Energi sekaligus Ketua I Ikatan Ahli Teknik Perminyakan Indonesia (IATMI) Pri Agung Rakhmanto menilai kurang tepat bila skema gross split dipandang sebagai jawaban dari rendahnya investasi migas. Pasalnya, gross split hanya salah satu bentuk kontrak migas yang tidak terlalu dipikirkan oleh investor.

“Mau diubah bentuk kontrak lain, saya kira juga akan sama saja hasilnya. Persoalan mendasarnya bukan di situ, tapi di iklim investasi secara keseluruhan. Dalam hal ini, investor saya pikir juga melihat bagaimana tingkat dukungan pemerintah hingga ke level tertinggi, konkret atau tidak terhadap hulu migas,” ujarnya.

Pri Agung menuturkan naiknya harga minyak dunia belum berkontribusi positif bagi investor yang akan berusaha di tanah air. Dia menyebut Indonesia masih kalah kompetitif dibandingkan negara lain secara global. Bahkan dia merujuk pada hasil survei Fraser Institute di 2017 yang menempatkan Indonesia pada peringkat 10 besar terbawah.

“Sejak 2017 investasi hulu migas global trennya sudah naik, kita tetap saja turun,” ujarnya. 

Berdasarkan data Kementerian ESDM, investasi di sektor hulu migas memang belum mengalami peningkatan. Di 2015, realisasi investasi hulu migas tercatat mencapai US$ 15,04 miliar. Kemudian pada tahun berikutnya, realisasi investasi ini turun menjadi US$ 12,01 miliar. Investasi hulu migas justru semakin turun di 2017, yakni sebesar US$ 9,3 miliar. Sementara realisasi hingga September tahun ini hanya mencapai US$ 7,9 miliar dari target US$ 14,2 miliar.

Investor Daily, Page-9, Wednesday, Nov 7, 2018