Keputusan OPEC dan Sikap Indonesia

    Keputusan Organisasi Negara-negara Pengekspor Minyak untuk menurunkan produksi minyak para anggotanya pada sidang OPEC minggu lalu, 30 November, dipercaya bisa mendongkrak harga minyak dunia pada 2017. Namun, pada waktu yang bersamaan, Indonesia menyatakan membekukan kembali keanggotaannya dalam OPEC karena tidak bisa mengikuti kesepakatan OPEC untuk menurunkan produksinya. Rumusan OPEC menyatakan bahwa Indonesia harus menurunkan produksi minyaknya hingga 37.000 barrel per hari. Jika asumsi lifting Indonesia tahun 2017 diproyeksikan 820.000 barrel per hari, produksi minyak Indonesia akan diturunkan mencapai angka 783.000 barrel per hari.

    Jadi, ada dua hal penting yang kita sorot di sini. Pertama, kesepakatan bulat untuk menurunkan produksi minyak bisa dicapai oleh OPEC untuk pertama kalinya sejak delapan tahun lalu, Kedua, yang menyangkut Indonesia adalah keputusan untuk tidak mengikuti kesepakatan penurunan produksi minyaknya dengan konsekuensi keluar dari organisasi tersebut dengan membekukan keanggotaannya. Beberapa hari sebelum sidang OPEC di kota Vienna tersebut, saya termasuk yang mempertanyakan apakah bisa semua negara anggota OPEC sepakat karena salah, satu masalah. yang sensitif adalah 'bagaimana merumuskan ’jatah” pemotongan minyak untuk setiap anggota OPEC karena menyangkut pula faktor apakah situasi politik dan ekonomi setiap anggota mampu menerima rumusan tersebut.

    Ini persoalan klasik sejak puluhan tahun terakhir, dan tidak pernah ditemukan jalan keluar yang memuaskan semua pihak.  Ada informasi bahwa Irak, Iran, dan Venezuela juga sudah menyatakan keberatan mereka mengenai rumusan itu. Jadi, tanpa ada persetujuan mengenai isu terpenting OPEC, yaitu mengenai jatah pengurangan, berarti masih terbentang sebuah jalan panjang penuh hambatan ketidakpastian dalam memprediksi harga minyak dunia. Keberatan negara seperti Iran, Irak, dan Venezuela bisa dipahami karena ketiga negara tersebut menghadapi persoalan yang berat di dalam negeri mereka sendiri.

    Irak masih dalam suasana perang yang tentu saja memerlukan alokasi dana yang besar untuk menghadapinya. Venezuela sedang dalam situasi ekonomi dalam negeri yang rumit dan belum ada tanda-tanda bahwa pemerintah sekarang mampu mengatasi krisis ekonomi dan juga politik di dalam negeri mereka. Sementara itu, Iran yang baru terbebas dari embargo panjang AS pasti ingin mengoptimalkan produksi mereka untuk mendapat devisa. Baik Irak, Venezuela, maupun Iran mempunyai jumlah penduduk yang cukup besar dan semua memerlukan dana yang besar yang antara lain bisa didapatkan dari ekspor minyak mereka yang tinggi.

    Ini sedikit berbeda dengan posisi anggota OPEC lain, seperti Arab Saudi, Uni Emirat Arab, atau Kuwait, yang relatif punya jumlah penduduk kecil sehingga posisi fiskal mereka lebih terkendali. Negara-negara OPEC pada 2016 menghasilkan minyak sekitar 33,7 juta barrel per hari. Rumusan dari sidang tersebut adalah memotong produksi hingga 1,2 juta barrel per hari dengan formula pemotongan yang berusaha memberi keadilan kepada semua anggota. Tentu saja negara yang produksinya besar mengalami pemotongan yang besar pula seperti Arab Saudi yang harus mengurangi produksi hingga 486.000 barrel per hari dan Irak sampai 210.000 barrel per hari.

    Meskipun ada optimisme sebagai hasil dari pertemuan OPEC, dapat saya katakan bahwa sulit mengharapkan harga minyak dunia pada 2017 akan kembali ke Zaman keemasannya seperti beberapa tahun lalu. Secara sederhana bisa dikatakan bahwa naik dan turunnya tidak akan keluar dari angka 60 dollar AS per barrel. Masih ditambah dengan catatan bahwa anggota OPEC sendiri bisa menjaga disiplin anggota-anggotanya untuk mematuhi keputusan mereka sendiri karena dalam sejarah kita ketahui, biasanya negara seperti Arab Saudi, Uni Emirat Arab, dan Kuwait itulah yang disiplin untuk mematuhi jumlah produksi, sementara sebagian besar negara lainnya justru melakukan ”gerilya” agar produksi mereka diam-diam disesuaikan dengan kepentingan negara itu sendiri.

    Dengan segala kelemahannya, OPEC paling tidak telah menunjukkan bahwa organisasi ini masih bisa menyandang julukan sebagai salah satu prime mover produksi minyak dunia, walaupun jumlah keluaran minyaknya hanya sepertiga dari produksi total dunia, sementara lanskap produser minyak dunia sudah berubah sejak adanya para pemain baru eks Uni Soviet sérta ditemukannya shale gas di AS.

    Kekompakan dan disiplin menjadi kunci utamanya. Dan, diplomasi OPEC untuk meyakinkan Presiden Rusia Vladimir Putin untuk setuju mengurangi produksi minyak mereka patut dipuji walaupun Menteri Perminyakan Arab Saudi Khalid aJ-Falih sempat mempertanyakan apakah perlu dicapai kesepakatan pengurangan produksi minyak karena ia percaya bahwa pasar minyak akan menemukan keseimbangan sendiri tanpa harus dibatasi atau dicampuri produksinya (The Wall Street Journal, 29/11).

    Sikap Indonesia Sikap Indonesia untuk kembali membekukan keanggotaannya dalam OPEC sangat tepat. Sebagai sebuah negara yang menjunjung tinggi etika pergaulan dunia, kita selalu berusaha mematuhi kesepakatan yang diambil dalam OPEC. Apabila kesepakatan tersebut akan merugikan kepentingan nasional sehingga akan menyulitkan, alternatif yang jujur adalah dengan keluar dari kesepakatan tersebut. Kita dahulu (sebelum tahun 2008) anggota OPEC yang cukup disegani, tetapi kemudian keluar dari organisasi tersebut ketika Indonesia dari negara pengekspor minyak perlahan menjadi importir neto minyak.

    Kepentingan kita menjadi tidak seiring kepentingan OPEC sendiri. Sebelumnya pemah di isyaratkan bahwa Indonesia bersedia mengurangi produksi minyaknya hingga angka 5.000 barrel per hari, sebuah angka yang sebenarnya tidak cukup signifikan bagi pengurangan produksi OPEC tetapi lebih menunjukkan segi etika kepatuhan dan solidaritas. Jadi rumusan pemotongan hingga 37.000 barrel per hari jelas-jelas akan merusak asumsi APBN kita karena menggerus pendapatan negara yang andalan utamanya masih bertumpu pada penerimaan minyak dan pajak . Pertanyaan seberapa lama Indonesia akan tidak mengikuti organisasi OPEC akan muncul.

    Namun melihat prospektif ke depan, agaknya kita sudah harus berani memutuskan untuk tidak masuk lagi ke dalam organisasi itu dan bukan sekadar membekukan keanggotaan. Indonesia mungkin hanya menjadi pengamat (observer). Ada konsekuensi bahwa kita tidak punya peran lagi menentukan harga dan produksi minyak OPEC, tetapi dengan berposisi bebas dan tidak terikat pada kesepakatan OPEC lebih banyak untung dibanding kerugian yang Indonesia peroleh nantinya. Paling tidak, kita bebas menggenjot produksi minyak kita, bebas pula bernegosiasi dengan negara-negara lain, termasuk juga bernegosiasi dengan produsen minyak non-OPEC seperti Rusia.

IN ENGLISH

OPEC decisions and attitudes Indonesia

    The decision of the Organization of the Petroleum Exporting Countries to cut oil production OPEC members at a hearing last week, November 30, is believed to boost world oil prices in 2017. However, at the same time, Indonesia declared re-freeze its membership in OPEC because they can not follow the agreement OPEC to cut production. The formulation of OPEC stated that Indonesia should cut oil production by 37,000 barrels per day. If the assumption lifting Indonesia in 2017 is projected to 820,000 barrels per day, Indonesia's oil production will be reduced reach 783 000 barrels per day.

    So, there are two important things that we highlight here. First, the unanimous agreement to cut oil production could be achieved by OPEC for the first time since eight years ago, the Second, concerning Indonesia is a decision not to follow the decline in oil production deal with the consequences out of the organization by freezing its membership. A few days before the session of OPEC in Vienna city, I included the question whether all OPEC member countries could agree for one, one problem. sensitive is' how to formulate a 'quota' cutting oil for every member of OPEC because it involves also a factor whether the political and economic situation of each member is able to accept the formula.

    This is a classic problem since the last decades, and never found a way out that is satisfactory to all parties. There is information that Iraq, Iran, and Venezuela have expressed their reservations about the formula. So, without any OPEC agreement on the key issues, namely the quota reduction, means there lies a long road full of obstacles uncertainties in predicting oil prices. Objection countries such as Iran, Iraq, and Venezuela is understandable because these countries face severe problems in their own country.

    Iraq is still in the war which of course requires the allocation of funds to deal with it. Venezuela is in the economic situation in the country is complicated and there are no signs that the government is now able to overcome the economic crisis and also in their domestic politics. Meanwhile, Iran's newly freed from the long US embargo definitely want to optimize their production to earn foreign exchange. Neither Iraq, Venezuela, and Iran has a population large enough and all require substantial funds, among others, can be obtained from their oil exports were high.

    It's a bit different with the position of other OPEC members such as Saudi Arabia, United Arab Emirates, or Kuwait, which has a relatively small number of people so that they are more restrained fiscal position. OPEC countries in 2016 to produce around 33.7 million barrels of oil per day. The formulation of the trial is to cut production by 1.2 million barrels per day by cutting formula that attempts to give justice to all the members. Of course, countries whose production of experiencing greater cuts such as Saudi Arabia which should reduce production by 486,000 barrels per day and Iraq by 210,000 barrels per day.

    Although there is optimism as a result of the OPEC meeting, I can say that it is difficult to expect oil prices in 2017 will return to the golden Age as a few years ago. Simply to say that the rise and fall would not be out of the number 60 US dollars per barrel. Was coupled with a note that OPEC members themselves can maintain the discipline of its members to adhere to their own decisions because of the history we know, usually a country like Saudi Arabia, United Arab Emirates, and Kuwait that is the discipline to adhere to production quantities, while most other countries just do a "guerrilla" production so they quietly tailored to the interests of the country itself.

    With all its weaknesses, OPEC least have shown that this organization could still hold the title as one of the prime movers of world oil production, although its output of oil is only a third of total world production, while landscape oil producer, the world has changed since the new players former Union Soviet as well as the discovery of shale gas in the US.

    Compactness and discipline is key. And, diplomacy OPEC to convince Russian President Vladimir Putin to agree to reduce their oil production praiseworthy despite Saudi Arabian Oil Minister Khalid AJ-Falih had questioned whether it was necessary to achieve an agreement to cut its output because he believes that the oil market will find your own balance without having to be restricted or mixed production (The Wall Street Journal, 29/11).

    Attitude Indonesia Indonesian attitude to re-freeze its membership in OPEC is very appropriate. As a country that upholds the etiquette of the world, we always tried to comply with the agreement taken in OPEC. If the agreement would be detrimental to the national interest so that it will be difficult, honest alternative is to get out of the deal. We advance (prior to 2008) are well respected member of OPEC, but then out of the organization when Indonesia from oil-exporting countries are slowly becoming a net importer of oil.

    Our interest becomes due interests of OPEC itself. Previous ever in hinted that Indonesia is willing to reduce oil production to 5,000 barrels per day figure, a figure which is not significant enough for OPEC production cuts but rather demonstrate compliance in terms of ethics and solidarity. So the formulation of cutting up to 37,000 barrels per day obviously would ruin our budget assumptions for revenue erode the mainstay of the country still primarily relies on oil revenues and taxes. Question how long Indonesia will not follow OPEC organization will emerge.

    But seeing the prospective future, it seems we should be bold decided not to go back into the organization and not just freeze the membership. Indonesia may just be an observer (observer). There are consequences that we do not have a role again determine the price and production of oil OPEC, but with an independent position and is not bound by OPEC deal more profit than losses that Indonesia will earn. At least, we are free to boost oil production, also free to negotiate with other countries, including negotiating with non-OPEC oil producers like Russia.

Kompas, Page-7,Wednesday, Dec,7,2016

Realisasi Implementasi Penurunan Harga Gas

    Penurunan harga gas domestik untuk industri nasional merupakan bagian dari Paket Kebijakan Ekonomi Jilid III yang telah diluncurkan sejak Oktober 2015, dengan fokus utama untuk meningkatkan daya saing industri nasional. Sejak digulirkan, tercatat tak kurang sudah empat peraturan diterbitkan untuk mengimplementasikan kebijakan penurunan harga gas itu. Yakni: (1) Peraturan Menteri ESDM No 37 Tahun 2015 tentang Ketentuan dan Tata Cara Penetapan Alokasi dan Pemanfaatan serta Harga Gas Bumi, (2) Peraturan Presiden (Perpres) No 40 Tahun 2016 tentang Penetapan Harga Gas Bumi, (3) Peraturan Menteri ESDM No 06 Tahun 2016 tentang Ketentuan dan Tata Cara Penetapan Alokasi dan Pemanfaatan serta Harga Gas Bumi, dan (4) Peraturan Menteri  ESDM No 16 Tahun 2016 tentang Tata Cara Penetapan Harga dan Pengguna Gas Bumi Tertentu.

    Pada Oktober 2016, Presiden Jokowi juga telah menginstruksikan kembali agar pada akhir 2016 harga gas domestik untuk industri dapat diturunkan hingga kisaran 5-6 dollar AS/MMBTU atau lebih rendah. Penurunan harga sebagaimana diinstruksikan Presiden belum terealisasi. Ada beberapa penyebab mengapa implementasi kebijakan penurunan harga gas untuk industri tak dapat secara serta-merta direalisasikan meskipun beberapa peraturan yang mengaturnya telah diterbitkan.

    Pertama, karena penurunan harga gas bumi baru dapat diterapkan setelah dilakukan penyesuaian harga gas yang sudah berlaku di industri, baik harga gas bumi yang dibeli secara langsung melalui kontraktor kontrak kerja sama (KKKS) maupun dibeli melalui badan usaha pemegang izin usaha niaga gas bumi. Dalam hal ini, parameter yang menjadi kunci utama adalah parameter keekonomian yang harus disepakati bersama, baik oleh penjual maupun pembeli.

    Adalah tidak sederhana untuk mencapai kesepakatan harga baru berdasarkan parameter kekonomian yang sesuai kepentingan dari sisi penjual dan pembeli pada saat yang bersamaan di tengah kondisi perekonomian yang bergerak sangat dinamis seperti saat ini. Kedua, karena langkah operasional untuk menerapkan kebijakan penurunan harga juga memerlukan prosedur birokrasi dan tafa cara tertentu yang bukan hanya tidak sederhana, melainkan juga butuh waktu yang tidak sebentar. Berdasarkan peraturan terakhir Kementerian ESDM, yaitu Peraturan Menteri ESDM No 16/2016, terdapat beberapa ketentuan yang mengatur tentang prosedur untuk menerapkan kebijakan penurunan harga gas yang cukup birokratis.

    Dalam Pasal 4 Peraturan Menteri ESDM No 16/2016 disebutkan bahwa untuk mendapatkan harga gas bumi tertentu, pengguna gas bumi tertentu mengajukan permohonan penetapan harga gas bumi tertentu kepada menteri melalui Dirrektorat Jenderal. Yang dimaksud harga gas bumi tertentu dan pengguna gas bumi tertentu dalam hal ini adalah harga gas bumi untuk tujuh sektor industri pengguna gas tertentu yang menjadi target kebijakan penurunan harga gas tersebut. Ketujuh industri adalah industri pupuk, petrokimia, oleochemicaI, baja, keramik, kaca, dan sarung tangan karet. Menteri dan Dirjen yang dimaksud adalah menteri ESDM dan Dirjen minyak dan gas.

    Berdasarkan ketentuan Pasal 4 Peraturan Menteri ESDM No 16 Tahun 2016 harus ada permohonan yang diajukan terlebih dulu dari industri pengguna gas untuk mendapatkan penetapan harga gas tertentu. Selanjutnya, dalam Pasal 5 disebutkan bahwa Dirjen melakukan verifikasi terhadap permohonan penetapan harga gas bumi tersebut. Verifikasi dilakukan terhadap harga beli gas di titik serah KKKS, jenis industri dan sisa besaran penerimaan negara di dalam pelaksanaan verifikasi tersebut, Dirjen membentuk Tim Penilai Permohonan Penetapan Harga Gas Bumi Tertentu.

    Tim inilah yang akan melakukan verifikasi terhadap permohonan penetapan harga gas yang diajukan pengguna gas dengan memperhatikan perhitungan penerimaan negara yang dikeluarkan kepala SKK Migas. Berdasarkan hasil verifikasi inilah, dirjen Migas atas nama menteri ESDM menerima atau menolak permohonan penetapan harga gas yang diajukan. Perlu digaris bawahi, berkaitan dengan perhitungan penerimaan negara (harga gas di hulu), dalam peraturan ini, yaitu pada Pasal 9 Ayat 2 diatur bahwa perhitungan penerimaan negara dilakukan dengan penetapan harga gas bumi paling rendah 6 dollar AS/MMBTU dengan pengurangan tak lebih dari 2 dollar AS/MMBTU.

Dengan kata lain, ketentuan ini belum sejalan dengan keinginan ataupun instruksi Presiden Jokowi yang menginginkan harga gas di pengguna akhir (industri/hilir) di kisaran 5-6dollar AS/MMBTU atau lebih rendah. Ketiga, di samping prosedur dan birokrasi pelaksanaan di tingkat operasionalnya yang tak sederhana, di tingkatan yang lebih tinggi kebijakan ini juga melibatkan dan memerlukan koordinasi lintas sektoral/kementerian lembaga pemerintah dan para pihak yang memiliki kepentingan yang berbeda-beda.

Setidaknya ada lima kementerian/lembaga pemerintah dan empat pemangku kepentingan lain dari kalangan pelaku bisnis yang berkepentingan dan akan terlibat langsung dalam penerapan kebijakan ini: (1) Kementerian ESDM Cq Sekretaris Jenderal, (2) Direktorat Jenderal Migas Kementerian ESDM, (3) SKK Migas, (4) Kementerian Perindustrian, (5) Kementerian Keuangan, (6) KKKS, (7) industri penyedia transmisi dan distribusi gas, (8) pemegang izin niaga gas, (9) industri akhir pengguna gas. Jadi, realisasi dari implementasi kebijakan penurunan harga tampaknya masih memerlukan waktu lagi. Kementerian ESDM masih perlu kembali merevisi ataupun memperbarui peraturan yang ada. Para pihak yang terlibat dan berkepentingan pun masih perlu waktu lagi untuk mencapai kesepakatan yang dapat mempertemukan dan menjembatani kepentingan semua-pihak.

IN ENGLISH

Realization Implementation of Gas Price Decline

    The decline in domestic gas prices for the national industry is part of the Economic Policy Package Volume III that have been launched since October 2015, with the primary focus on improving the competitiveness of national industries. Since rolled, carrying no less than four regulations have been issued to implement the policy to reduce gas prices. Namely: (1) Regulation of the Minister of Energy and Mineral Resources No. 37 Year 2015 regarding Provisions and Procedures for Determination of Allocation and Utilization, and Prices of Natural Gas, (2) the Presidential Decree (Decree) No. 40 of 2016 on Pricing Gas, (3) Regulation of the Minister of Energy and Mineral Resources No. 06 of 2016 on provisions and Procedures for Determination and Allocation and Utilization of Natural Gas Prices, and (4) of the Regulation of the Minister of Energy and Mineral Resources No. 16 Year 2016 on Procedures and User Pricing Gas Specific.

    In October 2016, President Jokowi also been instructed again to the end of 2016 the price of domestic gas for the industry can be reduced to the range of 5-6 dollars / MMBTU or lower. The price drop as instructed by the President has not been realized. There are several reasons why the implementation of the policy to reduce gas prices for industry can not be immediately realized despite some regulations that govern has been published.

    First, because the decline in the price of natural gas will be applied after adjustment of gas prices that have been prevailing in the industry, both the price of natural gas purchased directly through the cooperation contract (PSC) or purchased through a business entity license holder trade of natural gas. In this case, the parameters that the key factor is that the economic parameters to be agreed upon, either by the seller or buyer.

    It is not simple to reach a new price agreement based on the parameters kekonomian the corresponding interests of the seller and the buyer at the same time in the middle of the economic conditions are moving very dynamic as it is today. Second, because of operational steps to implement a policy of price reduction also requires bureaucratic procedures and Tafa certain way that is not only simple, but also takes a long time. Based on the latest regulations the Ministry of Energy, the Energy and Mineral Resources Minister Regulation No. 16/2016, there are some provisions that regulate the procedures for implementing policy to reduce gas prices quite bureaucratic.

    In Article 4 of the Regulation of the Minister of Energy and Mineral Resources No. 16/2016 states that to get the price of certain natural gas, natural gas specific user apply certain pricing of natural gas to the minister through Dirrektorat General. The meaning of certain natural gas and natural gas specific user in this case is the price of natural gas for seven industry sectors certain gas users targeted policy to reduce the gas prices. Seventh industry is an industry of fertilizers, petrochemicals, oleochemicaI, steel, ceramics, glass, and rubber gloves. Minister and Director General in question is Energy Minister and Director General of oil and gas.

    Under the provisions of Article 4 of the Regulation of the Minister of Energy and Mineral Resources No. 16 of 2016 there should be a petition filed in advance of industrial gas users to obtain certain gas pricing. Furthermore, Article 5 states that the Director General to verify the request for the pricing of natural gas. Verification is done against the purchase price of gas at the handover point KKKS, type of industry and the remaining amount of state revenue in the implementation of such verification, the Director General of forming Assessment Team Application Specific Pricing Natural Gas.

    This team will verify the petition filed gas pricing by taking into account the calculation of the gas released state revenues SKK Migas head. Based on the results of this verification, on behalf of the Director General of Oil and Gas and Energy Minister accept or reject the application for the proposed gas pricing. It should be underlined, with regard to the calculation of revenues (price of gas in the upstream), under this rule, namely in Article 9 paragraph 2 stipulated that the calculation of state revenue to do with the pricing of natural gas the lowest 6 US dollars / MMBTU with a reduction of no more than 2 US dollars / MMBTU.

    In other words, this provision is not in line with the wishes or instructions of President Jokowi who wants the price of gas at the end users (industry / downstream) in the range of 5-6dollar AS / MMBTU or lower. Third, in addition to the procedures and bureaucratic implementation at operational level that is not simple, at a higher level this policy also involves and requires cross-sectoral coordination / ministries government agencies and stakeholders who have different interests.

    At least five ministries / government agencies and four other stakeholders from the business community is interested and will be directly involved in the implementation of this policy: (1) The Ministry of Energy and Mineral Resources cq Secretary General, (2) The Directorate General of Oil and Gas Ministry of Energy, (3) SKK Migas , (4) the Ministry of industry, (5) the Ministry of Finance, (6) KKKS, (7) industrial gas transmission and distribution provider, (8) gas trading license holder, (9) the end of the industrial gas users. Thus, the realization of policy implementation decline in prices seems to still need more time. The Ministry of Energy and Mineral Resources still need to go back to revise or update the existing regulations. The parties involved and concerned still needs more time to reach an agreement that can bring together and bridge the interests of all parties.

Kompas, Page-7,Wednesday, Dec,7,2016

ONWJ Contract Signed Soon

  

At present, the shares of ONWJ Block by PT Pertamina Hulu Energi ONWJ 58.28%, PT Energi Mega Persada Tbk. 36.72%, and Kuwait's Foreign Petroleum Exploration Company (Kufpec) 5%. 

    However, the government has decided to take over the entire management of the oil and gas block so that 100% of ONWJ shares will become the property of PT Pertamina starting January 19, 2017. Currently, the production sharing contract / PSC scheme that applies in ONWJ uses a cost recovery scheme.

However, in the new contract model, the government will tend to use the gross split PSC model or gross profit sharing without any cost recovery (refundable oil and gas production costs).

PT Pertamina Upstream Business Development Senior Vice President Denie S. Tampubolon said the cooperation contract for the oil and gas block located on the north coast of West Java will expire on January 18, 2017. He hopes that the new contract can be signed before the deadline. If the government wants to implement a production sharing contract (PSC) with a gross split scheme in the new contract, the government needs to sign new agreements on the block more quickly.

The gross split PSC scheme does not take into account costs that can be returned or cost recovery. In the contract model, revenue from direct oil sales is shared between the government and the contractor. Meanwhile, PSC cost recovery that has been applied so far is calculated based on revenues from oil sales and then reduced income tax (PPh), the volume taken by the government each calendar year according to the agreement, and reduced cost recovery.

After deducting these costs, the profits from the block are shared between the government and the contractor in accordance with the fiscal terms and conditions stated in the contract. 

    Denie said the gross split PSC scheme was still being discussed internally within Pertamina. The government is still designing regulations governing the adoption of gross split PSCs. He hopes that the application of production sharing without cost recovery does not affect investment and production activities.

the ONWJ Block

Moreover, there is no transfer of management in the ONWJ Block because the operator is still the same, namely PT Pertamina Hulu Energi ONWJ. Oil and gas production-ready to sell or lift from the ONWJ Block in January-November 2016 reached 133 MMscfd of gas and oil at 35,900 BPD. Oil production from the block next year is targeted at 36,500 BPD. Regarding partners in managing the block, the same pattern will be applied as in the Mahakam Block.

In the new Mahakam Block contract, the government handed over management after the 2018 contract began to Pertamina. Thus, the participation of the ONWJ Block is 100% controlled by the government. After the government owns 100% shares through Pertamina, the oil and gas BUMN has the right to invite existing contractors to get involved. 

     Denie said he would offer participating shares to Energi Mega Persada (ENRG) on a new contract. Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the implementation of the gross split PSC in the management of the ONWJ Block was still under discussion.

He said the application of the gross split was aimed at avoiding complicated business mechanisms such as budget submissions as well as the procurement process that had to go through the approval of the Special Task Force for Upstream Oil and Gas Business (SKK Migas). 

    During this time, some of the costs that contractors must incur in an oil and gas block have several uses that can be returned through cost recovery. House of Representatives Commission VII member Satya W Yudha said, the majority of the implementation of PSC cost recovery, the government only gained about 40%.

Bisnis Indonesia, Page-30, Wednesday, Dec 7,2016 

Village Head and Two Village Officials Close the Entrance of JOB-PPEJ

Hundreds of residents of Rahayu Village, Soko Subdistrict, Tuban Regency, which was the biggest in the People's Compensation Pay Movement (Gebyar Korak), held an action to demand compensation payments to the Pertamina PetroChina East Java Joint Operating Body (JOB -PPEJ). Rahayu residents refuse compensation, but we demand full 2016 compensation, said a member of the Rahayu Village Consultative Body (BPD), Soko District, Tuban Regency.

Because it has not been responded to for a long time, residents also blockaded the entrance gate of the Pertamina Petrochina East Java Joint Operating Body (PAD B). Compensation must be paid or flares must be turned off, "he added.

It is known, the oil and gas management company located at the border of Bulurejo Village, Rengel District, and Rahayu Village, Soko District, Tuban Regency, East Java, was allegedly constrained by compensation payments that would be given for two months or called compassion.

The action directly led by village officials took turns giving speeches starting from Sukisno Village Head and village head demanding compensation to be immediately disbursed. Until 10:33 WIB, none of the JOB P-PEJ management met with the masses. Information from Security Pad B, currently there are still meetings at the internal management level.

"We will go down the road in a row if the JOB P-PEJ Superintendent Field Admin, Akbar Pradima does not provide clarity when compensation will be given, Sukisno said.

Sukisno also revealed a number of compensation not yet given by JOB P-PEJ to affected residents. The amount is around Rp. 3, 4 billion from January to November 2016. Increasingly violent mobs continue to block the entrance to Pad B. Even village officials limit the time if at 11:00 WIB is not found, the masses will break the gates. 

     In addition to the Rahayu Village who gave speeches, the Head of Bulurejo Village, Yauri was also involved in the action. Also reportedly the Semutan hamlet, the Village of Bulurejo next year is not included in the list of recipients of compensation. The existence of flares that continue to ignite residents must receive compensation.

Bhirawa, Page-7,Wednesday, Dec 7,2016

Menyederhanakan Perizinan Industri Hulu Migas

    Perizinan memegang peranan penting di industri hulu minyak dan gas bumi. Banyak kegiatan eksplorasi maupun produksi yang tertunda pelaksanaannya karena masalah perizinan. Padahal, pernerintah tengah menggaungkan pentingnya kegiatan eksplorasi untuk meningkatkan jumlah cadangan dan produksi migas nasional. Berdasarkan data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), kegiatan eksplorasi dan produksi di hulu migas saat ini harus mengantongi 341 izin.

    Proses pengurusan seluruh izin tersebut melibatkan setidaknya 17 instansi/lembaga penelaah, perekomendasi, hingga penerbit izin. Selain banyaknya izin yang harus diurus, proses pengurusan pun membutuhkan waktu yang tidak singkat. Sebagai gambaran, pengurusan izin untuk melakukan survei seismik bisa memakan waktu satu tahun, bahkan lebih. Padahal, kegiatan survei seismik yang diperlukan sebelum dilakukan pengeboran eksplorasi hanya makan waktu beberapa bulan saja.

    Data pada 2015 menunjukkan, ada 40 kegiatan survei yang realisasinya terkendala perizinan. Realisasi komitmen pengeboran eksplorasi pada 2015 juga menghadapi masalah dengan adanya 41 kegiatan terkendala izin dan pengadaan lahan. Tidak berbeda dengan kegiatan eksplorasi, hambatan perizinan untuk kegiatan produksi dan pengembangan terjadi pada 80 kegiatan. Kepala Bagian Humas SKK Migas, Taslim Z. Yunus, menyatakan pengurusan izin untuk kegiatan hulu migas perlu dipermudah.

    Apalagi untuk kegiatan eksplorasi yang bertujuan menemukan cadangan migas baru. Banyaknya izin yang harus dikantongi akan mengulur ulur jadwal kegiatan eksplorasi karena pengurusan izin memakan waktu cukup lama. Padahal, hasil eksplorasi baru bisa dinikrnati 10-15 tahun ke depan. “Jika eksplorasi tidak digenjot, kesempatan untuk mematok peningkatan lifting juga tidak tercapai,” kata Taslim. Ke depan, pihak yang mengurus semua izin adalah SKK Migas yang nantinya akan langsung diserahkan ke Badan Koordinasi Penanaman Modal (BKPM) untuk rnendapatkan persetujuan.

    Permasalahan perizinan yang menjadi ganjalan dalarn pelaksanaan kegiatan hulu migas tidak bisa hanya diselesaikan oleh kalangan yang bergelut di dunia migas. Butuh kerja sama dan sinergi dengan berbagai pihak guna mengurai simpul-simpul masalah yang selama ini menghambat kelancaran kegiatan usaha hulu migas. Kepala Kelompok Kerja Formalitas SKK Migas, Didik S. Setyadi, mengatakan semua pemangku kepentingan, khususnya aparat negara, perlu memahami  bahwa industri hulu migas adalah kegiatan negara. Seluruh lahan yang digunakan untuk kegiatan hulu migas juga tercatat sebagai aset milik negara, katanya. Inisiatif-inisiatif yang dilakukan pemerintah dengan berkoordinasi bersama para pemangku kepentingan diharapkan akan mendukung kelancaran pelaksanaan kegiatan usaha hulu migas. Kondisi yang kondusif juga akan mendorong peningkatan investasi di sektor hulu migas.

IN ENGLISH

Licensing simplifies the Upstream Oil and Gas Industry

    Licensing plays an important role in the upstream oil and gas. Many of the activities of exploration and production pending implementation due to licensing issues. In fact, the central governmental echoed the importance of exploration activities to increase the number of national oil and gas reserves and production. Based on data from Special Unit of Upstream Oil and Gas (SKK Migas), exploration and production activities in the upstream oil and gas at this time must be pocketed 341 permits.

    The entire process of obtaining a license involving at least 17 government agencies / institutions reviewers, the recommenders, until the publisher permission. In addition to the number of permits that must be taken care of, the maintenance process also requires a short time. As an illustration, permits to conduct seismic surveys could take a year, or more. In fact, the seismic survey activities required prior to exploration drilling took only a few months.

    Data in 2015 showed, there are 40 activities that realization is constrained licensing survey. Realization of the commitment exploration drilling in 2015 also faced problems with their 41 activities constrained permits and land acquisition. Not unlike the exploration activities, permitting barriers to the production and development activities occurred in 80 activities. Head of Public Relations SKK Migas, Taslim Z. Yunus, said permits for oil and gas upstream activities should be made easy.

    Especially for exploration activities aimed at finding new oil and gas reserves. The number of permits that must be bagged to be stalling stalling exploration activities schedule for obtaining a license to take some time. In fact, the results of new exploration could dinikrnati the next 10-15 years. "If the exploration is not encouraged, the opportunity to peg the increase in lifting is not reached," said Taslim. In the future, those who take care of all permits is SKK Migas which will be directly submitted to the Investment Coordinating Board (BKPM) to rnendapatkan approval.

    Licensing issues is a wedge dalarn implementation of upstream oil and gas activities can not only be solved by those who wrestle in the world of oil and gas. It took cooperation and synergy with various parties in order to unravel the knots to a problem that hampers the smooth operation of upstream oil and gas business. Head of the Working Group Formalities SKK Migas, Didik S. Setyadi, said all stakeholders, especially the state, need to understand that the upstream oil and gas industry is the state activity. The whole land is being used for the upstream oil and gas activities are also listed as state-owned assets, he said. The initiatives taken by the government in coordination with the stakeholders are expected to support the smooth implementation of upstream oil and gas activities. Conducive conditions will also encourage increased investment in the upstream oil and gas sector.

Koran Sindo, Page-5, Tuesday, Dec,6,2016

Waiting for the Blessing of Crude Oil

    The performance of oil and gas issuers will get hotter after world crude oil prices continue to break new records, driven by OPEC's decision to cut production by 1.2 million barrels per day. The performance of oil and gas issuers until the third quarter of 2016 was still under pressure.

    Positive performance can only be achieved by PT Medco Energi Internasional Tbk. (MEDC), of the seven oil and gas issuers listed on the Indonesia Stock Exchange. A mining stock analyst from PT Recaptal Securities Kiswoyo Adi Joe assesses the blessing of crude oil prices can be achieved by issuers as early 2017. The skyrocketing crude oil price still needs further scrutiny to project the performance of issuers in Indonesia.

    The Brent oil contract traded at US$54.46 per barrel at the close in London, up 1% from its previous close. Throughout last week, Brent posted its most drastic gain since January 2009 with a 13% increase.

    Drastic strengthening also occurred in New York. The WTI contract traded 1.2% higher to its highest since July 2015 at US$51.68 per barrel. On the other hand, the price of Indonesian crude oil in November fell by US$ 3.39 per barrel from US$ 47.55 in October to US$ 43.25.

    Kiswoyo assessed that the trend of strengthening world crude oil prices would depend on demand. Winter in Europe and other countries are projected to increase demand. If the increase in oil prices persists, it will have a positive impact on the performance of issuers because the sale of oil is not carried out on a contract basis like coal.

    The upward trend will be confirmed when winter is over, but demand is still high. He assesses that oil and gas issuers will succeed if prices stay above US$ 80 per barrel for more than three months. The average cost of producing oil by issuers in Indonesia reaches US$20-US$35 per barrel.

    Senior Market & Technical Analyst at PT Daewoo Securities Indonesia Heldy Arifien assessed that oil and gas companies will still be the choice of market players until the end of this year. The oil and gas sector is projected to remain the prima donna of investors, especially in window dressing.

“We have a projected oil resistance of US$ 58 per barrel to US$60 per barrel. Until the end of the year, the average was US$ 48 per barrel. The oil price euphoria was used by investors for window dressing at least until the first quarter of 2017. Mining sector shares as of Thursday (Dec 1) shot up 73.76% throughout the year, far behind other sectors and the Jakarta Composite Index (JCI) which rose 13,19% (year-to-date).

Bisnis Indonesia, Page-1, Tuesday, Dec 6,2016

Harga Gas Belum Tuntas

  Pemerintah akhirnya merealisasikan janji memotong harga gas bagi industri pupuk, petrokimia, dan baja yang turun hingga US$1,5 menjadi maksimal US$ 6 per MMBTU mulai 1 Januari 2017. Sayangnya, cakupan perusahaan dan sektor yang dapat menikmati diskon tersebut masih minim, yaitu hanya perusahaan pelat merah. Berdasarkan Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) No. 40/2016 tentang Harga Gas Bumi untuk Industri Tertentu, penetapan harga gas baru berlaku pada 1 Januari 2017. Dalam beleid tersebut, pemerintah menyesuaikan harga jual gas terhadap beberapa industri juga tarif pengangkutan gas melalui pipa (toll fee) di gas tertentu.

Dalam beleid tersebut, lima perusahaan pemerintah mendapat diskon harga gas. Untuk penyesuaian tarif pengangkutan gas melalui pipa (toll fee), dua perusahaan, dari delapan, menikmati toll fee lebih rendah. Menteri Perindustrian Airlangga Hartarto belum mau memberikan tanggapan atas keputusan Menteri ESDM soal penurunan harga gas. Dirjen Industri Kimia Tekstil dan Aneka Kementerian Perindustrian Achmad Sigit Dwiwahjono mengatakan instansinya masih menunggu kelanjutan penurunan harga gas untuk tujuh sektor lainnya dan sektor kawasan industri. Dia menjelaskan diskon harga gas bagi industri bukan berdasarkan swasta atau BUMN, melainkan penggunaan gas sebagai bahan baku. “Buktinya, PT Kaltim
Methanol lndustri dan PT Kaltim Pama Industri berstatus perusahaan swasta.

Sekretaris Jenderal Industri Olefin, Aromatik, dan Plastik Indonesia Fajar Budiyono berpendapat tidak ada perbedaan harga yang jauh antara harga pada 2016 dan yang ditetapkan untuk berlaku pada 1 Januari 2017. Yang selama ini digembar-gemborkan jauh dari harapan, apa yang kami minta tidak sesuai. Mungkin negara masih butuh pendapatan. Tapi kalau harga gas diturunkan, pendapatan negara dari PPN dan PPh bisa naik karena
utilitas pabrik bisa naik hingga 95% ungkapnya.

Menurutnya, impor gas saat ini masih mungkin, tetapi itu berarti negara harus membangun fasilitas regasifikasi sehingga membutuhkan waktu yang lama. Direktur Eksekutif Asosiasi lndustri Besi dan Baja Indonesia (IISIA) Hidayat Diseputro mengatakan produsen baja swasta anggota
asosiasi itu mempenanyakan pengecualian produsen swasta dari kebijakan penurunan harga gas. Head of Corporate Communication PT Pupuk Indonesia Wijaya Laksana mengapresiasi upaya pemerintah merealisasikan komitmen menurunkan harga gas. Namun, untuk mendorong daya saing menghadapi produk impor tentu kami berharap harga gas bisa lebih kompetitif lagi,” kata Wijaya.

Pemerintah belum dapat memastikan untuk memperluas cakupan sektor industri dan perusahaan lain yang dapat menikmati diskon harga gas. “Itu biar Pak Menteri yang menjawab,” ujar Direktur Jenderal Minyak dan Gas Bumi Kementelian ESDM IGN Wiratmaja Puja. Akibat dari formula baru, penerimaan dari sektormigas secara nominal berkurang karena pemerintah dan kontraktor mengurangi bagian agar harga gas turun. Begitu pula dengan pelaku usaha yang mengantongi izin transportasi gas, katanya, juga berkorban demi menurunkan harga gas.

Industri telah menerima konsekuensi bila sewaktu-waktu harga gas melambung tinggi meski formula baru telah ditetapkan. Seperti yang tenulis pada Pasal 7, menteri bisa mengevaluasi harga gas setiap tahun atau sewaktu-waktu tergantung kondisi perekonomian nasional. “Kalau harga
produknya mahal, ya sharing the pain, sharing the gain," katanya. Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), Amien Sunaryadi, mengatakan pihaknya memfasilitasi amendemen perjanjian jual beli gas (PJBG). Hingga saat ini, pihaknya baru menyelesaikan tiga dari 10 PJBG yang ditargetkan rampung pada 31 Desember 2016. Untuk menurunkan harga gas, insititusi itu hanya bisa menekan biaya operasi kegiatan yang belum dilakukan.

Vice President Corporate Communication PT Pertamina Wianda Pusponegoro mengatakan perseroan mendukung penetapan harga gas baru bagi ketiga industri. Kami dukung untuk harga gas kompetitif terutama bagi sektor prioritas seperti pupuk, petrokimia serta pembangkit listrik dengan harapan volume penyerapan gas bisa meningkat agar utilisasi pipa pipa transmisi jug distribusi optimum

IN ENGLISH

Gas Prices Not Completed
    The government finally realize the promise of cutting the price of gas for the fertilizer industry, petrochemical and steel fell by US $ 1.5 to a maximum of US $ 6 per MMBTU effective 1 January 2017. Unfortunately, the range of companies and sectors that can enjoy the discount is still low, at only SOEs. Based on the Regulation of the Minister of Energy and Mineral Resources (ESDM) No. 40/2016 on Natural Gas Prices for Industry Specific, new gas pricing effect on January 1, 2017, stated that the government adjust the selling price of gas to several industries also freight rates of gas through the pipeline (toll fee) at a particular gas.

    Stated the five companies the government got a discount price of gas. Tariffs for transportation of gas through the pipeline (toll fee), two companies, eight, enjoy lower toll fee. Minister of Industry Airlangga Hartanto not want to respond to the Minister's decision about gas price reduction. Director General of Chemical Industry, Textile and Miscellaneous Industry Ministry Achmad Sigit Dwiwahjono said his office is still waiting for the continuation of the decline in gas prices for the seven other sectors and the sectors of industrial areas. He explained discount gas prices for industry and not by private or state-owned enterprises, but the use of gas as a raw material. "The proof, PT Kaltim
Industries and PT Kaltim Methanol Industry Pama status as a private company.

    Secretary General of Olefin, Aromatic and Plastic Indonesia Fajar Budiyono found no difference in price between the price far in 2016 and are set to take effect on Jan. 1, 2017. What has been heralded far from the expectations, what we're asking is not appropriate. Perhaps the state still need the income. But if gas prices lowered, revenues from VAT and income tax could rise because
utility plant could be up to 95% he said.

    According to him, gas imports is still possible, but it means that the state should build a regasification facility so it takes a long time. Executive Director of the Association of Iron and Steel Industries in Indonesia (IISIA) Diseputro Hidayat said the private steel producer member
The association of private producers mempenanyakan exclusion from policy to reduce gas prices. Head of Corporate Communication of PT Pupuk Indonesia Wijaya Laksana appreciate the government's efforts to realize the commitment to reduce gas prices. However, to encourage the competitiveness of imported products would face we expect the gas price could be more competitive again, "said Wijaya.

    The government can not be sure to widen the scope of the industrial sector and other companies can enjoy discounts on the price of gas. "It let the minister answered," said the Director General of Oil and Gas at the Energy and Mineral Kementelian IGN Wiratmaja Puja. As a result of the new formula, the acceptance of sektormigas nominally reduced because the government and contractors reduce parts that gas prices down. Similarly, businesses that permit the transport of gas, he said, also sacrifice for lower gas prices.

    Industry has to accept the consequences when the time gas prices skyrocketed despite a new formula has been set. As stated in Article 7, the minister can evaluate the price of gas every year or at any time depending on the condition of the national economy. "If the price
products are expensive, so sharing the pain, share the gain, "he said. Head of the Special Working Upstream Oil and Gas (SKK Migas), Amien Sunaryadi, said it facilitates amendments gas sales agreement (GSA). Until now , his side had completed three of 10 GSA is expected to be completed on December 31, 2016. in order to lower the price of gas, the institutions can only reduce the cost of operating activity that has not been done.

    Vice President Corporate Communications PT Pertamina Wianda Pusponegoro said the company supports the establishment of a new gas price for the three industries. We support a competitive gas prices, especially for priority sectors such as fertilizer, petrochemical and power generation with gas uptake volume expectancy can be increased so that the utilization of transmission pipeline jug optimum distribution

Bisnis Indonesia, Page-1, Tuesday, Dec,6,2016

Moratorium Kontrak Inpex Kurang dari 10 Tahun

    Menteri Koordinator Kemaritiman Luhut Binsar Pandjaitan menyatakan bahwa pemerintah menolak permintaan moratorium kontrak selama 10 tahun yang diajukan Inpex Corporation di Blok Masela,“Tidak kami kasih, kalau 10 tahun,” ujarnya setelah bertemu dengan Menteri Energi dan Sumber Daya Mineral Ignasius Jonan Serta Wakil Menteri ESDM Arcandra Tahar, di Kantor Kementerian Koordinator Kemaritiman. Menurut Luhut, pemerintah sudah punya solusi atas permintaan moratorium kontrak yang diinginkan oleh Inpex. Namun dia enggan membeberkan solusi yang akan dilakukan pemerintah.

    Sebelumnya, Inpex meminta insentif moratorium kontrak selama 10 tahun untuk mengembangkan Blok Masela. Permintaan moratorium dengan memundurkan kontrak yang seharusnya berakhir pada 2028 menjadi 2038.  Moratorium kontrak sebagai komponsasi perubahan skema pengembangan Masala dari proyek Offshore (di Iaut) menjadi onshore (di darat). Inpex menyatakan perubahan skema tersebut menyebabkan jadwal pengoperasian proyek menjadi mundur.

    Selain moratorium kontrak, dibahas soal penambahan kapasitas kilang gas yang diminta Inpex. “Itu juga kami sudah ada solusinya,” ucap dia. Selain moratorium kontrak, pemerimtah masih menunda pembahasan permintaan Inpex untuk menambah kapasitas produksi kilang dari 7,5 juta ton menjadi 9,5 juta ton per tahun. Luhut mengatakan hasil pembahasan tersebut akan dilaporkan kepada Presiden Joko Widodo. Inpex meminta tambahan kapasitas kilang agar tingkat pengembalian investasi bisa mencapai 15 persen.

    Menteri Ignasius Jonan mengatakan permintaan Inpex Soal moratorium kontrak masih dihitung. Menurut dia, Inpex boleh saja meminta moratorium 10 tahun atau kalau perlu Iebih dari 10 tahun. “Minta 50 tahun juga boleh, masih dihitung,” ujarnya. Ihwal permintaan meningkatkan kapasitas produksi gas menjadi 9,5 juta ton  per tahun, Jonan menuturkan akan ada peningkatan dari kapasitas saat ini 7,5 juta ton, Namun tambahan kapasitas tidak sampai 9,5 juta ton per tahun.

    Wakil Menteri Arcandra Tahar mengatakan dasar pemerintah tidak memberikan perpanjangan kontrak selama 10 tahun berdasarkan hitungan yang masuk akal. Dia menyebutkan hitungan pemerintah tidak sampai di angka 10 tahun. Meski begitu, Arcandra enggan menjelaskan dasar perhitungan pemerintah itu. Moratorium kontrak yang akan diberikan, kata dia, kurang dari 10 tahun. Sebelumnya, Inpex juga akan meminta pemerintah memberikan insentif atas biaya investasi yang dikeluarkan untuk satu Kilang apung LNG. Semisal" US$ 1,6 miliar. Selain itu, kontraktor asal Jepang meminta tax holiday selama 15 tahun serta potongan bagi hasil pemerintah dengan kontraktor masing-masing 50 persen.

IN ENGLISH

Moratorium Contract Inpex Less than 10 Years

    Coordinating Minister maritime Luhut Binsar Pandjaitan stated that the government rejected the demand for a moratorium on the contract for 10 years filed Inpex Corporation in Masela, "Do not we love, if 10 years," he said after meeting with the Minister of Energy and Mineral Resources Ignatius Jonan well as the Deputy Minister of Energy and Mineral Resources Arcandra Tahar, in the Office of the Coordinating Ministry for maritime. According Luhut, the government already has a solution upon request moratorium contract desired by Inpex. But he was reluctant to reveal the solution that will be done by the government.

    Earlier, Inpex asked for a moratorium incentive contract for 10 years to develop the Masela block. Demand moratorium by extending a contract that should have ended in 2028 became 2038. Moratorium contract as komponsasi schema changes Masala development of projects Offshore (in Iaut) into onshore (land). Inpex declare the schema changes cause the operation of the project schedule into retreat.

    In addition to the moratorium contract, discussed about the refinery capacity additions requested Inpex gas. "That we have the solutions," he said. In addition to the moratorium contract, pemerimtah still postpone the discussion of Inpex request to increase refinery production capacity from 7.5 million tons to 9.5 million tons per year. Luhut said the results of these discussions will be reported to the President Joko Widodo. Inpex asked for additional refinery capacity so that the return on investment can reach 15 percent.

    Minister Ignatius Jonan said Inpex Problem demand a moratorium on the contract is still being calculated. According to him, Inpex is okay to ask for a moratorium of 10 years or if necessary exceeding 10 years. "Ask for 50 years may also still be calculated," he said. About the demand increase gas production capacity to 9.5 million tons per year, Jonan said that there will be increased from the current capacity of 7.5 million tons, but not until the additional capacity of 9.5 million tons per year.

    Deputy Minister Arcandra Tahar said basic government does not provide a 10-year contract extension that makes sense based on the count. He mentioned the government count is not up in the 10 years. Even so, Arcandra reluctant to explain the basis for calculating the government. Moratorium contracts to be awarded, he said, less than 10 years. Earlier, Inpex will also ask the government to provide incentives for investment costs incurred for a floating LNG refinery. Like "US $ 1.6 billion. In addition, a Japanese contractor requested tax holiday for 15 years as well as pieces for the results of government by the contractor each 50 percent.

Koran Tempo, Page-14,Tuesday, Dec,6,2016

Pemerintah Tolak Dua Permintaan Inpex

    Pemerintah memutuskan tidak memenuhi dua permintaan kontraktor kontrak kerjasama (KKKS) Blok Masela, yakni Inpex Corporation. Dua permintaan perusahaan asal Jepang tersebut terkait dengan perpanjangan kontrak 10 tahun dan peningkatan kapasitas produksi hingga 9,5 juta ton per tahun (mtpa). “Bersama Kementerian ESDM kami sudah memutuskan tidak memenuhi dua permintaan Inpex. Itu diputuskan setelah dilakukan perhitungan.

    Inpex minta kompensasi perpanjangan kontrak 10 tahun, tapi kita sudah ada jalan keluarnya. Tidak kita kasihlah kalau 10 tahun,” tegas Menteri Koordinator Bidang Kemaritiman Luhut B Pandjaitan. Permintaan tambahan kapasitas produksi gas Blok Masela tidak bisa dipenuhi. Sebelumnya, Inpex meminta kompensasi perpanjangan kontrak selama 10 tahun. Hal itu diminta karena lnpex menganggap pemerintah yang meminta revisi skema pengembangan Blok Masela dari di laut (offshore) menjadi di darat (onshore). Karena itu, masa kontrak pengelolaan Blok Masela diminta lnpex mundur dari yang semestinya rampung 2028 menjadi 2038.

    Selain itu, Inpex ingin menaikkan kapasitas produksi gas Blok Masala dari 7,5 juta mtpa menjadi 9,5 juta mtpa. Namun, pemerintah menyanggupi permintaan Inpex terkait dengan biaya penggantian masa produksi (cost recovery). “Cost recovery sudah US$ 1,4 miliar,” imbuhnya. Menteri ESDM Ignasius Jonan menambahkan pamerintah masih mempertimbangkan kenaikan kapasitas produksi Blok Masela dan kompensasi moratorium kontrak lnpex. “Kira-kira lebih sih dari 7,5 juta mtpa, tapi tidak banyak karena ada juga permintaan Kementerian Perindustrian agar gas dari sana dialokasikan untuk industri hilir, misalnya petrokimia. Ini lagi dihitung tambahannya,” papar Jonan. Kompensasi waktu Inpex berkontrak di Blok Masela juga masih dihitung. “Dalam hitungan kita tidak sampai segitu. Kita akan kasih, tapi tidak 10 tahun,” imbuh Wakil Menteri ESDM, Arcandra Tahar.

IN ENGLISH

Government Refuses Two Requests Inpex

    The government decided not to meet two demands contractor cooperation contract (PSC) Masela, namely Inpex Corporation. Two Japanese companies demand related to 10-year contract extension and increased production capacity to 9.5 million tonnes per annum (mtpa). "Together with the Ministry of Energy we have decided not to meet two requests Inpex. It was decided after calculation.

    Inpex asked for compensation for the contract extension of 10 years, but we had no way out. Not us is love if 10 years, "said Coordinating Minister for maritime Luhut B Pandjaitan. Request additional Masela gas production capacity could not be fulfilled. Earlier, Inpex seeks compensation for 10-year contract extension. It was requested because lnpex government considers requesting a revision of the Masela block development schemes at sea (offshore) be on land (onshore). Therefore, future management contract Masela asked lnpex retreat of which should be completed in 2028 into 2038.

    In addition, Inpex want to increase gas production capacity of 7.5 million block Masala mtpa to 9.5 million mtpa. However, the government undertakes Inpex request related to the replacement cost of the production period (cost recovery). "Cost recovery is already US $ 1.4 billion," he added. EMR Minister Ignatius Jonan adding the governments are still considering the increase in production capacity and compensation moratorium Masela lnpex contract. "Roughly more hell than 7.5 million mtpa, but not much because there is also a growing demand for the gas from the Ministry of Industry, there is allocated for downstream industries, such as petrochemicals. This again is calculated enhancements, "said Jonan. Compensation at the time of contract Inpex Masela also still counted. "In a matter of us not to much. We will love, but not 10 years, "added Vice Minister of Energy and Mineral Resources, Arcandra Tahar.

Media Indonesia, Page-18,Tuesday, Dec,6,2016

Target Lifting Migas 2016 Bisa Tercapai

    Target produksi terjual (lifting) minyak dan gas bumi dalam APBN-P 2016 sudah tercapai. Proyeksi itu berdasarkan data produksi hingga 30 November 2016 yang menyebut dari target lifting minyak 820 ribu bph diperkirakan dicapai 821,8 ribu bph dan untuk gas dari target 6.438 mmscfd diperkirakan tercapai 6.643 mmscfd. ”Dari sisi produksi per 30 November kemarin untuk minyak outlook-nya 8315 ribu bph, sedangkan untuk gas 7.945 mmscfd, sedikit di atas target, pas-pasan,” terang Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas (SKK Migas) Amien Sunaryadi.

    Produksi minyak dari Blok Cepu masih menjadi andalan untuk menopang lifting 2016. Produksi blok migas yang dikelola Exxon Mobil Indonesia itu masih konsisten di 165 ribu bph. Blok Cepu diperkirakan masih menjadi penopang lifting minyak nasional dengan rencana peningkatan produksi minyak mencapai 200 ribu bph. “Untuk lifting migas 2017 (815 ribu bph dan gas 1.150 juta setara minyak per hari), kita optimistis walau harus ada kegiatan pengeboran, skenario produksi sesuai kaidah untuk meningkatkan produksi,” Amien.

    Tahun ini, imbuhnya, ada 37 plan of development dan plan of future development (POFD) yang sudah disetujui. “Dari itu kita bisa mendapat tambahan cadangan 204 juta barel setara minyak dengan total investasi US$2,85 miliar, potensi pendapatan negara US$6,55 miliar, tapi tiap-tiap POD memiliki durasi yang agak berbeda,” terang Amien. Amien juga melaporkan, untuk total investasi pada 2016 diperkirakan mencapai US$ 10,43 miliar dengan US$ 10,3 miliar di sektor produksi dan hanya US$ 900 ribu untuk eksplorasi.

IN ENGLISH

Lifting Gas Can Target Achieved 2016

    Target production sold (lifting) of oil and gas in the APBN-P 2016 has been reached. The projection was based on the production data through November 30, 2016 calling on the oil lifting target of 820 thousand bpd estimated to reach 821.8 thousand bpd and for the gas target is estimated reached 6,438 MMSCFD 6643 MMSCFD. "In terms of production as of November 30 yesterday for oil outlook for its 8315 thousand bpd, while for gas 7945 MMSCFD, slightly above the target, just barely," said Head of the Special Working Upstream Oil and Gas (SKK Migas) Amien Sunaryadi.

    Oil production from the Cepu block is still a mainstay for lifting prop 2016. Production of oil and gas blocks are managed by Exxon Mobil Indonesia was still consistently at 165 thousand bpd. Cepu expected to remain the backbone of the national oil lifting with plans to increase oil production reached 200 thousand bpd. "For the oil and gas lifting 2017 (815 thousand bpd and gas 1,150 million oil equivalent per day), we are optimistic although there should be drilling, production scenarios according to the rules to increase production," Amien.

    This year, he added, there are 37 plan of development and plan of future development (POFD) has been approved. "From that we can get additional reserves 204 million barrels of oil equivalent with a total investment of US $ 2.85 billion, a potential state revenue of US $ 6.55 billion, but each POD has a duration that is slightly different," said Amien. Amien also reported, for a total investment in 2016 is estimated to reach US $ 10.43 billion to US $ 10.3 billion in the production sector and $ 900 thousand for exploration.

Media Indonesia, Page-17,Tuesday, Dec,6,2016