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Saturday, July 8, 2017

Offered New Back Block



Minister of Energy and Mineral Resources Ignatius Jonan offers a new oil and gas block to the leadership of 52 oil and gas companies in a breakfast ban at the Ministry of Energy and Mineral Resources. The oil and gas blocks offered are oil and gas blocks that have been offered in May 2017 in the exhibition and convention held by Indonesian Petroleum Association (IPA).

The government has offered 15 new oil and gas working areas. The offered work area comprises 10 conventional oil and gas working areas and five working areas of oil and gas and non-conventional earth.

And a total of 15 new blocks, seven conventional oil and gas blocks are offered through direct offerings. The seven blocks are Andaman I, Andaman II, South Tuna, Merak Lampung, Pekawai, West Yamdena, and Kasuri III. The rest, Tongkol, East Tanimbar, Mamberamo, Jambi I and Jambi II gas shale blocks and coal methane gas blocks of Raja, Bungamas and West Air Komering are offered through regular auctions.

Special Staff of the Minister of Energy and Mineral Resources Hadi M. Djuraid said the meeting with senior officials of this oil and gas company became the first time to 'sell directly'. According to him, the way it is taken to get upstream oil and gas investment in the new work area.

From the data of Special Unit for Upstream Oil and Gas Business Activities (KLK Migas), in the first half of 2015, the investment reached US $ 7.74 billion. Then, in the first semester / 2016 amounted to US $ 5.65 billion.

In the first half of 2017, upstream oil and gas investment reached 29 percent or US $ 3.98 billion from the target of US $ 13.8 billion. When compared with the realization of 2016, the achievement of upstream investment this year is greater percentage, but smaller achievement Actual with a difference of US $ 1.67 billion.

Meanwhile, from the total number of working areas, there is a downward trend since 2013, totaling 321 blocks to 318 work areas in 2014. This number continues to decline to 312 blocks in 2015, 280 blocks in 2016 and 277 blocks in the first half of 2017.

The opportunity of this auction also became a moment to add investment and new block managed. Last year, no new contracts have been signed from 17 oil and gas blocks offered by the government.

"The ESDM Minister first sold direct new blocks. This is our sincerity to get bigger investment, "he said in a press conference in Jakarta, Friday (7/7).

Since the tender document was opened, it was recorded and data from the Ministry of Energy and Mineral Resources (ESDM), five Documents in the Andaman II Block and two documents in the East Tanimbar Block. The remainder are each document and the Mamberamo Block, Cokkol, West Yamdena, Pekawai, and Andaman I. As for, the profit sharing or split is offered to the contractors by 43% for oil and 48% for gas.

MAP OF WORKING AREA OIL AND GAS IN INDONESIA


TENDER DOCUMENTS

Director General of Oil and Gas of the Ministry of Energy and Mineral Resources (ESDM) IGN Wiratmaja Puja said up to now only 12 companies are taking tender documents. Meanwhile, for conventional oil and gas working areas offered through direct bidding schemes, the bids for auction documents will expire on Monday (10/7).

Later, the clarification forum limit ended on Wednesday (12/7). Then, the deadline for submission of bid documents until the next week, ie Monday (17/7). Regarding the time of the auction document that is almost ended, Wiratmaja said in the meeting had been discussed in detail following all suggestions from business actors. The representatives present will discuss with the internal company.

Meanwhile, Deputy Minister of Energy and Mineral Resources Arcandra Tahar said it is still waiting for the completion of government regulations (PP) that regulate taxation on gross split contracts. In the next week ie Monday (10/7), will be done konsinyering.

This new taxation regulation is awaited business actors who are interested to follow the auction of new oil and gas blocks. He hopes that the tax facilities arranged in PP no. 27/2017 which applies to production sharing contract (PSC) can also be enjoyed by contractors managing oil and gas working area using gloss split contract on new block offered.

IN INDONESIA

Ditawarkan Blok Baru Kembali


Menteri Energi dan Sumber Daya Mineral Ignasius Jonan menawarkan kembali blok minyak dan gas bumi baru kepada pimpinan 52 perusahaan migas dalam jamuan makan pagi di Kementerian ESDM. Adapun blok migas yang ditawarkan merupakan blok migas yang telah ditawarkan pada Mei 2017 dalam acara pameran dan konvensi yang digelar Indonesian Petroleum Association (IPA).

Pemerintah telah menawarkan 15 wilayah kerja baru migas. Wilayah kerja yang ditawarkan terdiri dan 10 wilayah kerja minyak dan gas bumi konvensional serta lima wilayah kerja migas dan bumi non-konvensional.

Dan total 15 blok baru, tujuh blok migas konvensional ditawarkan melalui penawaran langsung. Ketujuh blok tersebut yakni Andaman I, Andaman II, South Tuna, Merak Lampung, Pekawai, West Yamdena, dan Kasuri III. Sisanya, Tongkol, East Tanimbar, Mamberamo, blok shale gas Jambi I dan Jambi II serta blok gas metana batubara Raja, Bungamas dan West Air Komering ditawarkan melalui lelang reguler.

Staf Khusus Menteri ESDM Hadi M. Djuraid mengatakan pertemuan dengan petinggi perusahaan migas ini menjadi pertama kalinya untuk ‘berjualan langsung’. Menurutnya, cara itu ditempuh untuk mendapatkan investasi hulu migas pada wilayah kerja baru.

Dari data Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas), pada semester I/2015, investasi yang tercapai sebesar US$7,74 miliar. Kemudian, pada semester I/2016 sebesar US$5,65 miliar. 

Pada paruh pertama 2017, realisasi investasi hulu migas mencapai 29% atau US$3,98 miliar dari target yakni US$13,8 miliar. Jika dibandingkan dengan realisasi tahun 2016, capaian investasi hulu tahun ini lebih besar persentasenya, tetapi lebih kecil capaian aktualnya dengan selisih US$1,67 miliar.

Sementara itu, dari jumlah wilayah kerja, terlihat tren penurunan sejak 2013 yakni total 321 blok menjadi 318 wilayah kerja di 2014. Angka ini terus turun menjadi 312 blok di 2015, 280 blok di 2016 dan 277 blok di paruh pertama 2017.

Kesempatan lelang kali ini pun menjadi momen untuk menambah investasi dan blok baru yang dikelola. Pasalnya, tahun lalu, belum ada satu pun kontrak kerja sama baru yang diteken dari 17 blok migas yang ditawarkan pemerintah.

“Menteri ESDM pertama kali berjualan langsung blok-blok baru. Ini merupakan kesungguhan kita untuk mendapatkan investasi semakin besar," ujarnya dalam jumpa pers di Jakarta, Jumat (7/7).

Sejak masa pengambilan dokumen lelang dibuka, tercatat dan data Kementerian Energi dan Sumber Daya Mineral (ESDM), lima dokumen di Blok Andaman II dan dua dokumen di Blok East Tanimbar. Sisanya, masing-masing satu dokumen dan Blok Mamberamo, Tongkol, West Yamdena, Pekawai, dan Andaman I. Adapun, besar bagi hasil atau split yang ditawarkan kepada kontraktor sebesar 43 % untuk minyak dan 48% untuk gas.

DOKUMEN LELANG

Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral (ESDM) IGN Wiratmaja Puja mengatakan hingga saat ini baru 12 perusahaan yang mengambil dokumen lelang. Adapun, untuk wilayah kerja migas konvensional yang ditawarkan melalui skema penawaran langsung, batas akses dokumen lelang akan berakhir pada Senin (10/7).

Kemudian, batas forum klarifikasi berakhir pada Rabu (12/7). Lalu, batas akhir penyerahan dokumen penawaran sampai pekan berikutnya, yakni Senin (17/7). Terkait waktu pengambilan dokumen lelang yang hampir berakhir, Wiratmaja mengatakan dalam pertemuan tadi telah dibahas secara detail berikut semua saran dari pelaku usaha. Para perwakilan yang hadir akan membicarakan dengan internal perusahaan.

Sementara itu, Wakil Menteri ESDM Arcandra Tahar mengatakan pihaknya masih menanti selesainya peraturan pemerintah (PP) yang mengatur perpajakan pada kontrak gross split. Pada pekan depan yakni Senin (10/7), akan dilakukan konsinyering.

Ketentuan perpajakan baru ini ditunggu pelaku usaha yang berminat untuk mengikuti lelang blok migas baru. Dia berharap agar fasilitas perpajakan yang diatur dalam PP No. 27/2017 yang berlaku bagi kontrak bagi hasil produksi (production sharing contract/PSC) dapat juga dinikmati oleh kontraktor yang mengelola wilayah kerja migas menggunakan kontrak gloss split pada blok baru yang ditawarkan. 

Bisnis Indonesia, Page-9, Saturday, July 8, 2017

Friday, July 7, 2017

Government Regulation Special Taxation Oil and Gas Ready to Release



Require special taxation rules for oil and gas activities in sync with the revision of Government Regulation No. 79 so there is special treatment for oil and gas business tax system. The government plans to issue a new government regulation governing the special taxation of gross split contract schemes.

The regulation was issued after the issuance of Government Regulation No. 27 of 2017 on Amendment to Government Regulation Number 79 of 2010 on Refundable Operating Costs and the Treatment of Income Tax in Upstream Oil and Gas Business Fields.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar discloses the rule because the general tax rules can not be applied to oil and gas activities based on gross split contract schemes.

"We also hear the issuance of gross split taxation is still unclear. They realize or propose a government regulation that is almost comparable to Government Regulation No. 79, which regulates cost recovery, while this one regulates gross splits, "Arcandra said as quoted in the Ministry of Energy and Mineral Resources as saying in Jakarta on Thursday (6/7).

According to him, there needs to be a special tax regulation for oil and gas activities similar to that in sync with the revision of Government Regulation No. 79 so that later there will be special treatment for oil and gas business tax system. He disclosed that the Government Regulation of taxation to be issued contains the points of treatment of special tax on oil and gas industry which can not apply the general tax rules.

Currently, the draft Government Regulation of taxation is ready. Arcandra also hopes the Government Regulation can come out as soon as possible. "The draft already exists, hopefully this month we expect to get out," concluded Arcandra.

the Mahakam Block

Mahakam Block

Separately, East Kalimantan Governor Awang Farouk Ishak confirmed that the Mahakam Block's share management or participating interest (PI) in Kutai Kartanegara Regency (Kukar) is final.

The share of management is 66,5% for Province and 33,5% for Regency of Kutai Kartanegara (Kukar) from 10% share of cooperation with Pertamina.

"The PI problem is final, no question. Stay executed. Regional Owned Enterprises (BUMD) in cooperation with Pertamina to implement it, "said Governor Faroek, Thursday (6/7). According to him, the governor's policy as a representative of the central government in the region so no longer need to be questioned, let alone there is a proposal DPRD conduct re-meeting.

The decision resulted by Task Force (Satgas) is final based on Regulation of Minister of Energy and Mineral Resources No. 37/2016. Moreover, Task Force members consist of related parties starting from provincial representatives, Kutai Kartanegara Regent, head of DPRD, and one of BUMD that will be involved in management cooperation.

In addition, the President of the Republic of Indonesia Joko Widodo has emphasized to the Governor through a limited meeting some time ago that the problem PI Mahakam Block final decision and do not need to be discussed again. On the other hand, he as Governor did not deny beforehand there is agreement of division of 60% of provinces and 40% Kutai Kartanegara. However, that was before the reference of Minister of Energy and Mineral Resources Regulation No. 37/2016.

IN INDONESIA

Peraturan Pemerintah Perpajakan Khusus Migas Siap Dirilis


Perlu aturan perpajakan khusus untuk kegiatan minyak dan gas bumi yang sinkron dengan revisi Peraturan Pemerintah No 79 sehingga ada perlakuan khusus untuk sistem perpajakan usaha migas. Pemerintah berencana menerbitkan peraturan pemerintah baru yang mengatur perpajakan khusus skema kontrak gross split. 

Aturan itu dikeluarkan setelah penerbitan Peraturan Pemerintah (PP) Nomor 27 Tahun 2017 tentang Perubahan atas Peraturan Pemerintah Nomor 79 Tahun 2010 tentang Biaya Operasi yang Dapat Dikembalikan dan Perlakuan Pajak Penghasilan di Bidang Usaha Hulu Minyak dan Gas Bumi (Migas).

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar mengungkapkan aturan tersebut karena aturan pajak umum tidak dapat diterapkan untuk kegiatan minyak dan gas bumi berbasis skema kontrak gross split.

“Kita juga mendengar penerbitan gross split perpajakannya masih belum jelas. Mereka menyadari atau mengusulkan sebaiknya dikeluarkan Peraturan Pemerintah yang hampir sebanding dengan Peraturan Pemerintah Nomor 79, yang mengatur cost recovery, sementara yang ini  mengatur gross split,” kata Arcandra seperti dikutip dalam lainan Kementerian ESDM, di Jakarta, Kamis (6/7).

Menurutnya, perlu ada aturan perpajakan khusus untuk kegiatan minyak dan gas bumi sama yang sinkron dengan revisi Peraturan Pemerintah No 79 sehingga nantinya ada perlakuan khusus untuk sistem perpajakan usaha migas. Dia mengungkapkan Peraturan Pemerintah perpajakan yang akan dikeluarkan berisi poin-poin perlakuan pajak khusus industri migas yang tidak bisa diberlakukan aturan perpajakan umum.

Saat ini, draf Peraturan Pemerintah perpajakan sudah siap. Arcandra pun berharap Peraturan Pemerintah dapat keluar secepatnya. “Drafnya sudah ada, semoga bulan ini kita harapkan bisa keluar,” pungkas Arcandra.



Blok Mahakam

Terpisah, Gubernur Kalimantan Timur (Kaltim) Awang Farouk Ishak menegaskan masalah pembagian saham pengelolaan atau Participating Interest (PI) Blok Mahakam di wilayah Kabupaten Kutai Kartanegara (Kukar) sudah final.

Pembagian saham pengelolaannya sebesar 66,5% untuk Provinsi dan 33,5% untuk Kabupaten Kutai Kartanegara (Kukar) dari 10% bagian kerja sama dengan Pertamina.

“Masalah PI sudah final, tidak perlu dipersoalkan. Tinggal dilaksanakan. Badan Usaha Milik Daerah (BUMD) bekerja sama dengan Pertamina melaksanakannya,” kata Gubernur Faroek, Kamis (6/7). Menurut dia, itu kebijakan gubernur sebagai wakil pemerintah pusat di daerah sehingga tidak perlu lagi dipersoalkan, apalagi ada usulan DPRD melakukan rapat ulang.

Keputusan yang dihasilkan Satuan Tugas (Satgas) sudah final berdasarkan Peraturan Menteri ESDM No 37/2016. Terlebih anggota Satgas terdiri dari para pihak terkait mulai perwakilan provinsi, Bupati Kutai Kartanegara, pimpinan DPRD, serta salah satu BUMD yang akan terlibat dalam kerjasama pengelolaan.

Selain itu, Presiden Republik Indonesia Joko Widodo sudah menekankan ke Gubernur melalui rapat terbatas beberapa waktu lalu bahwa masalah PI Blok Mahakam keputusan final dan tidak perlu didiskusikan lagi. Di sisi lain, dirinya sebagai Gubernur tidak memungkiri sebelumnya memang ada kesepakatan pembagian 60% provinsi dan 40% Kutai Kartanegara. Namun, itu sebelum ada acuan Peraturan Menteri ESDM No 37/2016.

Media Indonesia, Page-18, Friday, July 7, 2017

Realization of Oil and Gas Investment Reaches US $ 3.98 Billion



Upstream oil and natural gas investment continues to fall annually. Special Unit for Upstream Oil and Gas Upstream Activities (SKK Migas) recorded the realization of upstream oil and gas investment in the first half of this year only US $ 3.98 billion, down from the same period last year of US $ 5.65 billion.

Head of SKK Migas Amien Sunaryadi said the upstream oil and gas investment this year is targeted to reach US $ 13.8 billion. However, the realization of investment until June was only US $ 3.98 billion or 28% of the target. This realization is admittedly not in accordance with the expected side.

"Whereas upstream oil and gas investment is important for the country, because it has a significant trickle down effect. Because if the upstream oil and gas investment is small, then spending to supporting industries is also small, "he said in a press conference in Jakarta, Thursday (6/7).

He said, many things that cause low realization of this upstream oil and gas investment. One reason is the price of crude oil that has not changed much. With current oil prices, oil and gas investors are said to be hesitant to invest in exploration activities. In fact, if there is no discovery of oil and gas reserves, investors will also not be sure in issuing funds for
development.

As regards the issuance of several new regulations over the past few days, Amien has denied this is suppressing oil and gas investment. Regulations affecting current oil and gas investments are greater due to long-standing regulations, one of which is Government Regulation No. 79/2010 which regulates the cost recovery and taxation of upstream oil and gas business.

These factors determine the economic calculations of oil and gas projects. So there are some delayed or even delayed oil and gas projects. This is reflected from the data of SKK Migas survey and drilling activities. 

     To Last June, 2D seismic survey activity was only 3,432 kilometers (km) or 12% of the target of 10,248 km, 3D seismic survey 330 square kilometers or 13% of the target of 6,566 square kilometers, exploration drilling 29 wells of 138 well targets, well development drilling 74 Wells from the target of 223 wells, and the realization of new well work work of 351 activities from the target 907 activities.

2D & 3D Seismic Survey

However, Amien expects oil and gas investment to improve in the second half following the issuance of Government Regulation 27/2017 which is a revision of Government Regulation 79/2010. "This is out of Government Regulation 27/2017 hopefully can encourage the growth of upstream oil and gas investment," he said.

SPECULATIVE SEISMIC SURVEY

Deputy Operations Fataryani Abdurahman added that there are additional investments from two large oil and gas projects that will commence in the second half of this year. First, the drilling project of two wells in Ketapang Field, Bukit Tua Block by Petronas Carigali with the project resulted in an additional 8 thousand barrels per day (bph).

Next is Sturdy and Kelok Projects by Chevron Pacific Indonesia which will add 2,600 bph oil production. Chevron will also work on the addition of water injection facility in Petapahan with projected production of 3 thousand bpd.

 "Our Ketapang project is being coordinated to start in September or later this year. Meanwhile Project Sturdy and Kelok is targeted to start activities in September or October, "he explained.

Exceeded Target

Nevertheless, state revenues from upstream oil and gas sector in the first half of 2017 actually exceeded the target. As of June, SKK Migas noted that state revenues from upstream oil and gas sector reached US $ 6.48 billion, or about 59 percent of the target in the 2017 State Budget (APBN) of US $ 10.91 billion.

"We are optimistic the end of the year could exceed the target with significant numbers," said Amien.

SKK Migas can also reduce the number of operating costs returned (cost recovery). From the pegged figure of US $ 10.49 billion, the realization of cost recovery cost until last June was at US $ 4.87 billion or 46%. To date, the largest cost component is for production operations, reaching US $ 2.35 billion or 48%. While the second largest US $ 1.38 is for depreciation.

"Only if the cost recovery should be maintained because it is still worrying, because the cost recovery will be big in November-December, especially from the depreciation of Mahakam Block and Jangkrik Field," said Amien. The cost recovery of the Mahakam block is estimated at US $ 900 million.

The Mahakam Block

Furthermore, the realization of oil and gas production until the first semester ago is also quite good. According to Amien, by the end of June, the average lifting of petroleum was 802 thousand bpd or 98% of the target of APBN 2017 which amounted to 815 thousand bpd. For natural gas, the actual lifting is 6,338 million standard cubic feet per day / MMscfd or about 98% of the target of 6,440 MMscfd. Overall, the achievement of Indonesia's oil and gas lifting as of June 30, 2017 is 1,934 thousand barrels of oil equivalent per day.

He explained that four of the 10 largest Production Sharing Contractors (KKKS) for petroleum that account for about 86% of national production, exceeded the target. These four companies are Total E & P lndonesie, Medco Natuna, PC Ketapang II Ltd, and VICO.

Meanwhile, five of the 10 largest Production Sharing Contractors of natural gas which accounted for 80% of national production, exceeded the target of Total E & P Indonesie, JOB Pertamina-Medco Tomori Sulawesi, Premiere Oil Natuna Sea BY Medco Natuna, and Vico.

 "SKK Migas will focus on resolving the obstacles faced by the 10 large-scale contractors in order to achieve production and lifting target" he said.

Optimizing the production and absorption of natural gas by domestic stakeholders is a priority in the second half of 2017.

IN INDONESIA


Realisasi Investasi Migas Capai US$ 3,98 Miliar


Investasi sektor hulu minyak dan gas bumi nasional terus turun setiap tahunnya. Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) mencatat realisasi investasi hulu migas semester pertama tahun ini hanya US$ 3,98 miliar turun dari periode yang sama tahun lalu sebesar US$ 5,65 miliar. 

Kepala SKK Migas Amien Sunaryadi mengatakan, investasi hulu migas pada tahun ini ditargetkan mencapai US$ 13,8 miliar. Namun, realisasi investasi hingga Juni lalu hanya sebesar US$ 3,98 miliar atau 28% dari target. Realisasi ini diakuinya memang tidak sesuai dengan yang diharapkan pihaknya.

“Padahal investasi hulu migas penting buat negara, karena punya trickle down effect yang signifikan. Karena kalau investasi hulu migas kecil, maka belanja ke industri pendukung juga kecil,” kata dia dalam jumpa pers di Jakarta, Kamis (6/ 7).

Dikatakannya, banyak hal yang menjadi penyebab rendahnya realisasi investasi hulu migas ini. Salah satu penyebabnya yakni harga minyak mentah yang belum banyak berubah. Dengan harga minyak saat ini, investor migas disebutnya ragu-ragu untuk investasi di kegiatan eksplorasi. Padahal, jika tidak ada penemuan cadangan migas, investor juga tidak akan yakin dalam mengeluarkan dana untuk
pengembangan.

Soal terbitnya beberapa peraturan baru beberapa waktu terakhir, Amien membantah hal ini menekan investasi migas. Regulasi yang berdampak pada investasi migas saat ini lebih besar disebabkan oleh regulasi-regulasi yang telah terbit sejak lama, salah satunya Peraturan Pemerintah No 79 Tahun 2010 yang mengatur soal cost recovery dan perpajakan dalam usaha hulu migas.

Berbagai hal ini menentukan kalkulasi keekonomian proyek migas. Sehingga ada beberapa proyek migas yang tertunda atau malah belum dilaksanakan. Hal ini tergambar dari data pelaksanaan kegiatan survei dan pengeboran yang dimiliki SKK Migas. 

     Sampai Juni lalu, kegiatan survei seismic 2D hanya sepanjang 3.432 kilometer (km) atau 12% dari target 10.248 km, survei seismic 3D 330 kilometer persegi atau 13% dari target 6.566 kilometer persegi, pengeboran eksplorasi 29 sumur dari target 138 sumur, pengeboran sumur pengembangan 74 sumur dari target 223 sumur, dan realisasi kegiatan kerja ulang (workover) sumur baru 351 kegiatan dari target
907 kegiatan.

Meski demikian, Amien berharap investasi migas akan membaik di semester kedua ini menyusul diterbitkannya Peraturan Pemerintah 27/2017 yang merupakan revisi dari Peraturan Pemerintah 79/2010. “Ini sudah keluar Peraturan Pemerintah 27/ 2017 semoga dapat mendorong menumbuhkan investasi hulu migas,” ujarnya.

Deputi Operasi Fataryani Abdurahman menambahkan, terdapat investasi tambahan dari dua proyek migas yang cukup besar yang akan dimulai pengerjaannya pada semester kedua tahun ini. Pertama, proyek pemboran dua sumur di Lapangan Ketapang, Blok Bukit Tua oleh Petronas Carigali yang diproyek menghasilkan tambahan 8 ribu barel per hari (bph). 

Berikutnya adalah Proyek Kokoh dan Kelok oleh Chevron Pacific Indonesia yang akan menambah produksi minyak 2.600 bph. Chevron juga akan mengerjakan proyek penambahan fasilitas water injection di Petapahan dengan proyeksi produksi 3 ribu bph.

 “Proyek Ketapang kami sedang koordinasikan agar dapat dimulai September atau paling lambat akhir tahun ini. Sementara Proyek Kokoh dan Kelok ditargetkan start kegiatan di September atau Oktober,” jelas dia.

Lampaui Target

Meski demikian, penerimaan negara dari sektor hulu migas pada semester pertama 2017 ini justru melebihi target. Per Juni lalu, SKK Migas mencatat realisasi penerimaan negara dari sektor hulu migas mencapai US$6,48 miliar atau sekitar 59% dari target dalam Anggaran Pendapatan dan Belanja Negara (APBN) 2017 sebesar US$10,91 miliar. 

“Kami optimis akhir tahun bisa melebihi target dengan angka cukup signifikan,” kata Amien.

SKK Migas juga bisa menekan angka biaya operasi yang dikembalikan (cost recovery). Dari angka yang dipatok sebesar US$10,49 miliar, realisasi biaya cost recovery sampai Juni lalu berada pada posisi US$4,87 miliar atau 46%. Hingga saat ini, komponen biaya terbesar adalah untuk operasi produksi, yakni mencapai US$ 2,35 miliar atau sebesar 48%. Sementara kedua terbesar US$ 1,38 yaitu untuk depresiasi. 

“Hanya kalau cost recovery ini harus kami jaga karena masih mengkhawatirkan, karena cost recovery akan masuk dalam jumlah besar di November-Desember, terutama dari depresiasi Blok Mahakam dan Lapangan Jangkrik,” tutur Amien. Cost recovery Blok Mahakam ini diperkirakan sebesar US$ 900 juta.

Selanjutnya, realisasi produksi migas sampai semester pertama lalu juga cukup bagus. Menurut Amien, per akhir Juni, rata-rata lifting minyak bumi tercatat sebesar 802 ribu bph atau 98% dari target APBN 2017 yang sebesar 815 ribu bph. Untuk gas bumi, realisasi liftingnya sebesar 6.338 million standard cubic feet per day/MMscfd atau sekitar 98% dari target yang sebesar 6.440 MMscfd. Secara keseluruhan, pencapaian lifting migas Indonesia per 30 Juni 2017 adalah 1.934 ribu barel setara minyak per hari.

Dia menjelaskan, empat dari 10 Kontraktor Kontrak Kerja Sama (KKKS) produksi terbesar untuk minyak bumi yang menyumbang sekitar 86% produksi nasional, berhasil melebihi target. Keempat perusahaan ini adalah Total E&P lndonesie, Medco Natuna, PC Ketapang II Ltd, dan VICO. 

Sementara, lima dari 10 Kontraktor KKS produksi terbesar gas bumi yang menyumbang 80% produksi nasional, berhasil melampui target, yaitu Total E&P Indonesie, JOB Pertamina-Medco Tomori Sulawesi, Premiere Oil Natuna Sea BY Medco Natuna, dan Vico.

 “SKK Migas akan fokus menyelesaikan kendala yang dihadapi 10 kontraktor KKS besar tersebut agar target produksi maupun lifting dapat tercapai" katanya. 

Optimalisasi produksi dan penyerapan Gas Bumi oleh stakeholder domestik menjadi prioritas pada semester kedua 2017 ini.

Investor Daily, Page-9, Friday, July 7, 2017

Investing in Upstream is not enthusiastic



Upstream oil and gas investment in Indonesia is getting less attractive. Of this year's investment target of 13.8 billion US dollars, the realization until the end of June 2017 only 3.98 billion US dollars or about 29 percent. Low oil prices are still considered to be the cause of the sluggish investment.

"The realization of this investment is an unexpected progress. We are not very happy with this condition, "said Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi in the presentation of the first semester-2012 performance Thursday (6/7) in Jakarta.

Citing data from the Ministry of Energy and Mineral Resources, the realization of upstream oil and gas investment in Indonesia in 2015 was recorded at 15.34 billion US dollars. Furthermore, the realization in 2016 fell to 11.15 billion US dollars. The deterioration of upstream oil and gas investment triggered a fall in oil prices from 100 dollars per barrel in 2014 to around 50 dollars per barrel recently.

"The desire of upstream oil and gas investment is very dependent on economic value. Current oil prices are causing investors to doubt. This also has an impact on investment for the development of the Oil and Gas Working Area. So, the main factor is the price, "said Amien.

When touched on by journalists whether the slack in investment was due to the latest regulation on gross splits issued by the government earlier this year, Amien denied. According to him, the regulation of the new gross split has been published. The upheaval of the upstream oil and gas investment climate in Indonesia occurred several years ago before the gross split was put into effect.

The state revenue target of upstream oil and gas business this year amounted to 10.91 billion US dollars with the realization until the end of June 2017 amounted to 6.48 billion US dollars. Nevertheless, the projected recovery cost this year is estimated to reach 10.49 billion US dollars. Actual cost recovery until the end of June was 4.87 billion US dollars.

Separately, Executive Director of ReforMiner Institute Komaidi Notonegoro said, in addition to the world oil price, upstream oil and gas regulation in Indonesia contributed to the investment climate.

IN INDONESIA

Investasi di Hulu Lesu


Investasi hulu minyak dan gas bumi di Indonesia semakin tidak menarik. Dari target investasi tahun ini sebesar 13,8 miliar dollar AS, realisasi sampai akhir Juni 2017 hanya 3,98 miliar dollar AS atau sekitar 29 persen. Harga minyak yang rendah masih dianggap menjadi penyebab lesunya investasi tersebut. 

”Realisasi investasi ini adalah kemajuan yang tidak diharapkan. Kami kurang begitu gembira dengan kondisi ini,” kata Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Amien Sunaryadi dalam paparan kinerja semester I-2012 Kamis (6/7), di Jakarta.

Mengutip data dari Kementerian Energi dan Sumber Daya Mineral, realisasi investasi hulu migas Indonesia pada 2015 tercatat sebesar 15,34 miliar dollar AS. Selanjutnya, realisasi di 2016 turun menjadi 11,15 miliar dollar AS. Kemerosotan investasi hulu migas dipicu kejatuhan harga minyak dari 100 dollar AS per barrel pada 2014 menjadi sekitar 50 dollar AS per barrel akhir-akhir ini.

”Keinginan investasi hulu migas sangat bergantung pada nilai keekonomian. Harga minyak saat ini menyebabkan investor ragu. Ini juga berdampak pada investasi untuk pengembangan Wilayah Kerja Migas. Jadi, faktor utamanya adalah harga,” ujar Amien. 

Ketika disinggung wartawan apakah lesunya investasi turut disebabkan regulasi terbaru mengenai gross split (skema bagi hasil berdasar produksi bruto) yang diterbitkan pemerintah diawal tahun ini, Amien membantah. Menurut dia, regulasi soal gross split baru sudah diterbitkan. Kelesuan iklim investasi hulu migas di Indonesia sudah terjadi beberapa tahun lalu sebelum gross split diberlakukan.

Adapun target penerimaan negara dari bisnis hulu migas tahun ini sebesar 10,91 miliar dollar AS dengan realisasi sampai akhir Juni 2017 sebesar 6,48 miliar dollar AS. Meski demikian, proyeksi besaran biaya operasi yang dipulihkan (cost recovery) tahun ini diperkirakan mencapai 10,49 miliar dollar AS. Realisasi cost recovery sampai akhir Juni adalah 4,87 miliar dollar AS.

Secara terpisah, Direktur Eksekutif ReforMiner Institute Komaidi Notonegoro mengatakan, selain faktor harga minyak dunia, regulasi hulu migas di Indonesia turut berkontribusi terhadap iklim investasi.

Kompas, Page-18, Friday, July 7, 2017

Oil and Gas Exploration Fainting



Upstream oil and gas investment in the country continues to shrink as impacts and low oil prices since late 2014. Upstream oil and gas investment realization in the first half of 2017 only US $ 3.9S billion fell 30% compared to the same period last year of US $ 5.65 Billion. Meanwhile, oil and gas investment realization in the first half of 2016 also fell compared to the first half of 2015 at US $ 7.74 billion.

In addition to falling compared to the same period last year, oil and gas investment realization in the first half of this year also only reached 29% of this year's target of US $ 13.8 billion. Head of Special Unit for Upstream Oil and Gas Business Activities (SKK Migas) Amien Sunaryadi said the realization of investment semester 1/201 7 is not satisfactory.

Of the total investment of US $ 3.98 billion, US $ 3.96 billion of which was spent on exploitation activities and US $ 0.02 billion for expor- ration activities. The contractors barely invested in exploration activities or the search for new oil and gas reserves. On the other hand, the ups and downs of upstream oil and gas investment resulted in spending on other sectors such as supporting services to be corrected.

In addition to low oil prices, economic factors that are considered not enough for investors make the realization of upstream oil and gas investment. However, usually the realization of investment is higher at the end of the year. Amien hopes that business actors will simply postpone activities until the end of the year so that the target of upstream oil and gas investment is achieved.

"Upstream oil and gas investment is important for the country because it has a significant nickle down effect. So we are less happy because the realization is only 29%, "he said in a press conference in Jakarta, Thursday (6/7).

Meanwhile, the realization of state revenue and oil and gas sector as of June 30, 2017 amounted to US $ 6.4 billion, or about 59% of the target in APBN 2017 US $ 10.91 billion.

Realization of cost recovery or cost recovery 46% or US $ 4.87 billion from the target of US $ 10.49 billion with the largest composition that is 48% derived and operating costs. It also seeks to make the operating costs more efficient. However, Amien mentioned that there is potential for additional cost recovery at the end of the year as capital expenditure usually increases by the end of the year. Deputy of SKK Migas Operations Fataryani Abdurahman said, for exploration activities this year is still sluggish.

It is likely that next year's oil and gas exploration performance will begin to improve with the expectation that oil prices may rise. Based on the data, 2D seismic survey activity was realized three activities and 25 activities or only 12%. Meanwhile, for 3D seismic survey activities, there are two activities of the 14 activity plan or 13% of the target.

SEISMIC SURVEY 


Previously, Vice President of Public & Government Affairs of Exxonmobil Cepu Limited Erwin Maryoto said that the company has not received permission from environmental impact analysis from the Ministry of Forestry and Environment to increase production. However, the company is currently conducting a production trial with a daily volume of 200,000 bpd.

Working Area Exxon Mobil in Cepu-EAST JAVA

The addition of production is possible because there are additional reserves of 450 million barrels to 729 million barrels so the production of 200,000 bpd can last for 3 years-4 years "now it's 200,000 but this is just a trial," he said.

IN INDONESIA

Eksplorasi Migas Mati Suri


Investasi hulu minyak dan gas bumi di Tanah Air terus menyusut sebagai dampak dan rendahnya harga minyak sejak akhir 2014. Realisasi investasi hulu migas pada semester I/2017 hanya US$3,9S miliar anjlok 30% dibandingkan dengan periode yang sama tahun lalu US$5,65 miliar. Sementara itu, realisasi investasi migas pada semester I/2016 juga turun dibandingkan dengan semester I/2015 senilai US$7,74 miliar.

Selain turun dibandingkan dengan periode yang sama tahun lalu, realisasi investasi migas pada paruh pertama tahun ini juga baru mencapai 29% dari target tahun ini US$13,8 miliar. Kepala Satuan Kerja Khusus Pelaksana Kegiatan Usaha Hulu Minyak dan Gas Bumi (SKK Migas) Amien Sunaryadi mengatakan, realisasi investasi semester 1/ 201 7 memang belum memuaskan. 

Dari total investasi US$3,98 miliar, US$3,96 miliar di antaranya dibelanjakan untuk kegiatan eksploitasi dan US$ 0,02 miliar untuk kegiatan ekspiorasi. Para kontraktor hampir tidak melakukan investasi untuk kegiatan eksplorasi atau pencarian cadangan baru migas. Di sisi lain, surutnya investasi hulu migas mengakibatkan belanja ke sektor lainnya seperti jasa penunjang ikut terkoreksi.

Selain rendahnya harga minyak, faktor keekonomian yang dianggap belum cukup bagi investor membuat realisasi investasi hulu migas rendah. Namun, biasanya realisasi investasi lebih tinggi pada akhir tahun. Amien berharap agar pelaku usaha hanya sekadar menunda kegiatan hingga akhir tahun sehingga target investasi hulu migas tercapai.

“Investasi hulu migas penting buat negara karena punya nickle down effect yang signifikan. Jadi kami kurang bergembira karena realisasinya hanya sebesar 29%,” ujarnya dalam jumpa pers di Jakarta, Kamis (6/7).

Sementara itu, realisasi penerimaan negara dan sektor migas per 30 Juni 2017 sebesar US$6,4s miliar atau sekitar 59% dari target dalam APBN 2017 US$10,91 miliar.

Realisasi pengembalian biaya operasi atau cost recovery 46% atau US$4,87 miliar dari target US$ 10,49 miliar dengan komposisi terbesar yakni 48% berasal dan biaya operasi. Pihaknya pun berupaya agar biaya operasi bisa lebih efisien. Namun Amien menyebut terdapat potensi penambahan cost recovery pada akhir tahun karena biasanya belanja modal bertambah menjelang akhir tahun. Deputi Operasi SKK Migas Fataryani Abdurahman mengatakan, untuk kegiatan eksplorasi tahun ini masih lesu.

Kemungkinan tahun depan kinerja eksplorasi migas baru mulai mengalami perbaikan dengan harapan harga minyak bisa naik. Berdasarkan data, kegiatan survei seismik 2D terealisasi tiga kegiatan dan 25 kegiatan atau hanya sebesar 12%. Sementara itu, untuk kegiatan survei seismik 3D, terdapat dua kegiatan dari rencana 14 kegiatan atau 13% dari target.

Sebelumnya, Vice President Public & Government Affairs Exxonmobil Cepu Limited Erwin Maryoto mengatakan saat ini pihaknya belum mendapatkan izin analisis dampak lingkungan dari Kementerian Kehutanan dan Lingkungan Hidup untuk menambah produksi. Namun, saat ini pihaknya masih melakukan uji coba produksi dengan volume harian 200.000 bph.

Penambahan produksi dimungkinkan karena terdapat tambahan cadangan dari 450 juta barel menjadi 729 juta barel sehingga produksi 200.000 bph bisa bertahan selama 3 tahun-4 tahun “sekarang sudah 200.000 tapi ini hanya uji coba,” katanya.

Bisnis Indonesia, Page-1, Friday, July 7, 2017

Thursday, July 6, 2017

Govt to settle taxation issue for gross split scheme soon



The government is finalizing a rule on the tax treatment of a new production-sharing contract (PSC) to boost the attractiveness ofthe upstream oil and gas sector, which has seen Hagging investor interest.

The new PSC, called the gross split scheme, requires investors to bear exploration and production costs instead of being reimbursed by the government, as under the older cost recovery scheme, Earlier this week, the government passed a similar rule on tax arrangements for the previous model.

Business players have complained about the absence of clear guidelines for taxation in the gross split scheme, despite its first application to the Offshore Northwest Java (ONWJ) oil and gas block.

“To some degree, there'will be a special treatment of oil and gas contractors using gross split [contracts], as general tax rules can’t be applied to them,” Deputy Energy and Mineral Resources Minister Arcandra Tahar told reporters on Wednesday.

“We have prepared the draft, and hopefully the Government Regulation [PP/GR] can be issued this month.”


EAST KALIMANTAN BLOCK

Arcandra added that the new PP would be comparable with PP No. 27/2017 for the cost recovery scheme. The newly passed regulation stipulates that the Energy and Mineral Resources Minister is authorized to set the sliding scale split in a PSC and to grant investors exemption from the domestic market obligation (DMO) with the approval of the Finance Minister. 

Furthermore, during the exploration phase, contractors under the cost recovery scheme will be exempted from import duties. Value-added tax (PPN) and luxury tax (PPnBM) will also be scraped for certain supporting goods and services. Contractors can still enjoy these incentives during the exploitation phase after a thorough evaluation from the Finance Ministry.

Arcandra was upbeat that the new tax regulation would provide a clearer calculation for contractors planning to use the gross split scheme, whether in new or extension projects. The government has instructed state-owned energy giant Pertamina to take over eight oil and gas blocks with expired concessions, which are to be handed over next year. These include blocks in Tuban, Ogan Komering and East Kalimantan.

Pertamina upstream director Syamsu Alam, however, said that based on the company’s assessment, the East Kalimantan block was not economically feasible, as Pertamina would have to pay for the abandonment and site restoration (ASR) of the block. Therefore, it had requested another three months to evaluate the block. 

“The ASR obligation significantly reduces the economic value ofthe block,” he said. However, Arcandra said that, unlike the previous practice, the price of oil and gas allocated for the DMO from those eight blocks would follow the market price.

Jakarta Post, Page-14, Thursday, July 6, 2017

East Kalimantan Block Requested Returned to the Country



The government advises PT Pertamina to immediately return East Kalimantan Block to the country if it is not economical. Therefore, the government can immediately re-auction the block offshore of East Kalimantan.

Deputy Minister of Energy and Mineral Resources (ESDM) Arcandra Tahar said the production sharing contract (PSC) of gross split schemes could be applied economically to seven termination blocks assigned to Pertamina. Only, this contract does not seem workable in East Kalimantan Block.

"So for the East Kalimantan Block, we recommend that if it is not economical, directly returned to the government," he said in Jakarta, Wednesday (5/7).

He said that until now, the evaluation of the implementation of gross split contract in East Kalimantan Block is still running. One of the uneconomical causes of East Kalimantan Block management is the abandonement and site restoration (ASR) of old contracts. This ASR burden turned out to be quite large.

"What is East Kalimantan Block how many platforms is it? On the offshore, there are many, "said Arcandra.



BLOCK EST KALIMANTAN 

Upstream Director of Pertamina Syamsu Alam revealed, it requested additional time until September to evaluate East Kalimantan Block. This is because the ASR block load off the East Kalimantan coast reaches billions of Dollars, causing the economy of the block to be significantly reduced.

"Because ASR is large enough to cause the economy down there a lot," he said.

If without ASR load, the implementation of gross split contract in East Kalimantan Block is still quite good. However, when it simulates the implementation of cost recovery PSC with ASR load, the block's economy becomes quite heavy. In fact, the added 5% split adds will not help.

"Stay heavy (economic)," said Alam.



BLOCK EST KALIMANTAN


However, Arcandra said, there is no need to wait until September to determine the fate of the East Kalimantan Block. The reason, need a quick decision to ensure the management of this block in the future. East Kalimantan Block itself will end on October 24, 2018. The government wants to immediately auction off this block if it is not economical for Pertamina.

"I suggest, straight away, so black and white. So we in the future have a better plan, "he asserted.

He is optimistic the East Kalimantan Block is not necessarily uneconomical for other companies. As is known, the obligation to set aside ASR funds will be applied to new oil and gas contracts. As for the old contracts such as East Kalimantan Block, it is not required to set aside post-mining funds. 

     In fact, it takes a lot of money to clean up the rest of the mine, including technical planning costs, licensing fees and regulatory compliance, well closing costs (other than exploration wells), demolition costs, transportation costs, storage costs, and area recovery costs.

IN INDONESIA

Blok East Kalimantan Diminta Dikembalikan ke Negara


Pemerintah menyarankan PT Pertamina untuk segera mengembalikan Blok East Kalimantan ke negara jika memang tidak ekonomis. Sehingga, pemerintah bisa segera melelang ulang blok di lepas pantai Kalimantan Timur ini.

Wakil Menteri Energi dan Sumber Daya Mineral (ESDM) Arcandra Tahar menuturkan, kontrak kerja sama (production sharing contract/ PSC) skema bagi hasil kotor (gross split) dapat diterapkan secara ekonomis untuk tujuh blok terminasi yang ditugaskan ke Pertamina. Hanya saja, kontrak ini sepertinya tidak workable dipakai di Blok East Kalimantan.

“Jadi untuk yang Blok East Kalimantan, kami menyarankan, kalau seandainya tidak ekonomis, langsung dikembalikan ke pemerintah,” kata dia di Jakarta, Rabu (5/7).

Dikatakannya, sampai saat ini, evaluasi penerapan kontrak gross split di Blok East Kalimantan memang masih berjalan. Salah satu penyebab tidak ekonomisnya pengelolaan Blok East Kalimantan ini yakni adanya beban dana pasca tambang (abandonement and site restoration/ASR) dari kontrak lama. Beban ASR ini ternyata cukup besar.

“Yang Blok East Kalimantan ini berapa banyak platform-nya? Di offshore-nya, ada banyak,” ujar Arcandra.

Direktur Hulu Pertamina Syamsu Alam mengungkapkan, pihaknya meminta tambahan waktu hingga September nanti untuk mengevaluasi Blok East Kalimantan. Hal ini lantaran beban ASR blok di lepas pantai Kalimantan Timur ini mencapai miliaran Dolar, yang menyebabkan keekonomian blok tersebut berkurang signifikan.

“Karena ASR-nya cukup besar sehingga menyebabkan keekonomian di situ turun banyak,” kata dia.

Jika tanpa beban ASR, penerapan kontrak gross split di Blok East Kalimantan masih cukup bagus. Namun ketika pihaknya melakukan simulasi penerapan PSC cost recovery dengan beban ASR, keekonomian blok tersebut menjadi cukup berat. Bahkan, tambahan split 5% disebutnya tidak akan membantu.

“Tetap berat (keekonomiannya) ,” tutur Alam.

Namun, Arcandra menyatakan, tidak perlu harus menunggu sampai September untuk menentukan nasib Blok East Kalimantan ini. Pasalnya, butuh keputusan cepat untuk memastikan pengelolaan blok ini ke depannya. Kontrak Blok East Kalimantan sendiri akan berakhir pada 24 Oktober 2018. Pemerintah ingin segera melelang blok ini jika memang tidak ekonomis bagi Pertamina.

“Saya menyarankan, langsung saja, jadi black and white. Sehingga kami ke depannya punya rencana lebih bagus,” tegas dia. 

Dia optimis Blok East Kalimantan belum tentu tidak ekonomis bagi perusahan lain. Seperti diketahui, kewajiban menyisihkan dana ASR akan diberlakukan untuk kontrak migas baru. 

     Sementara untuk kontrak lama seperti Blok East Kalimantan, tidak diwajibkan menyisihkan dana pasca tambang. Padahal, dibutuhkan banyak biaya untuk membersihkan sisa tambang minya, di antaranya biaya perencanaan teknik, biaya perizinan dan kepatuhan terhadap peraturan, biaya penutupan sumur (selain sumur eksplorasi), biaya pembongkaran, biaya transportasi, biaya penyimpanan, dan biaya pemulihan area.

Investor Daily, Page-9, Thursday, July 6, 2017