Gross Investment Returns Split into Attention

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Employers want to ensure the scheme did not make the split gross return on investment down

The Minister of Energy and Mineral Resources (ESDM) No. 8/2017 about Gross Production Sharing Contract Split still polemic. This time from the operator of oil and gas. They do not believe this scheme will be able to recoup the investment costs or the Internal Rate of Return (IRR) faster. They’d worry, this scheme will make their investment slow turning.
This contrasts with the belief Ministry of Energy and Mineral Resources (ESDM). Director General of Oil and Gas Ministry of Energy and Mineral Resources, IGN Wiratmaja Puja, stated, IRR upstream oil and gas with gross schemes split will depend on the characteristics of oil and gas reserves in Indonesia. Of course, this is different from other countries. But, “We hope more competitive because of the character of the reservoir is also different,” said Wiratmaja.
He compared the gross system in Indonesia which is split by the gross system split in Libya. In terms of the characteristics of an oil and gas stored in the bowels of the earth or reservoir Libya is superior because it is easy to attract investors. However, from the surface side, Indonesia is superior. Especially about security issues. By doing so, Indonesia has become more attractive for investments in upstream oil and gas with a gross system of this split.
Wiratmaja even guarantee a minimum of upstream oil and gas investment in Indonesia will get an IRR of 12%. However, if investors find oil and gas reserves in the field are good enough condition, they can earn up to 20% IRR. “Depending on the field that he can,” he said.
As an illustration, the Indonesian oil and gas field is currently mostly in marginal areas or in the sea. So the government set up an additional incentive in the form of a split in the scheme’s gross split. In order for IRR can be pursued. We love, the minimum he could IRR of 12%, “he said.
The government hopes the scheme gross split could make Indonesian oil and gas fields to attract investors. “Investors are rarely willing to here, the proof auction Work Area (WK) ‘there is no demand,” he said. In 2017, the government started offering split gross scheme. Wiratmaja hope that many investors who follow the auction oil and gas blocks in Indonesia. Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong revealed, IPA is always included, almost at every meeting when the government will issue a new policy.
Hence, IPA supports the scheme’s gross split for efficiency in the oil and gas industry. “But we want to make sure the economic level does not go down with the current system,” he said. Marjolijn call, the current upstream oil and gas investment in Indonesia is less attractive compared to investments in other countries in the region. “Because gross split,” this has been enacted, as efforts to continue the improvement we ask study incentives mainly to the deep ocean, voliter and EOR (Enhanced Oil Recovery). In the future we want to go there. We were made better assessment.
He has not been able to give feedback about the minimum gross IRR split could be 12%. “I have never heard that the gross split, minimum IRR is 12%. Is in its Regulation No mention of it? I would first check, but in fact must exist in the Regulation of the Minister of Energy, he said.
Energy observer of ReforMiner Institute Pri Agung Rakhmanto rate, oil and gas contractors principle, the higher the IRR, the more they’re interested in. “IRR of 12% may be included economical for contractors, but relatively marginal. IRR 15% only include marginal,” said Pri Agung Rakhmanto.
He said, a simple way to compare with previous split gross scheme is the mirror of the IRR in existing oil and field gas already managed oil and gas contractors. “If by the results of their Existing be above 15% IRR her, then offered a split with a gross IRR of 12%, then yes definitely will not blindly accept
Note: Currently, the government only gives an IRR of 5% to Eni Indonesia as operator Cricket Field which is a deepwater field.
 
IN INDONESIAN
 

Pengembalian Investasi Gross Split Jadi Sorotan

Pengusaha ingin memastikan skema gross split tak membuat pengembalian investasi turun
  Peraturan Menteri Energi dan Sumber Daya Mineral (ESDM) No 8/2017 tentang Kontrak Bagi Hasil Gross Split masih memantik polemik. Kali ini dari operator minyak dan gas. Mereka tak yakin skema ini akan mampu mengembalikan biaya investasi atau Internal Rate of Return (IRR) lebih cepat. Mereka justru khawatir, skema ini akan membuat investasi mereka lambat balik.
Ini berbeda dengan keyakinan Kementerian Energi dan Sumber Daya Mineral (ESDM). Direktur Jenderal Minyak dan Gas Bumi Kementerian ESDM, IGN Wiratmaja Puja, menyatakan, tingkat IRR hulu migas dengan skema gross split akan sangat tergantung pada karakteristik cadangan migas Indonesia. Tentu saja, ini berbeda dengan negara-negara lain. Tapi, “Kami harap lebih kompetitif karena karakter reservoir-nya juga beda,” ujar Wiratmaja.
Dia membandingkan sistem gross split di Indonesia yang ini dengan sistem gross split di Libia. Dari segi karakteristik kolam minyak dan gas yang tersimpan di perut bumi atau reservoir Libia lebih unggul karena mudah sehingga menarik minat investor. Namun, dari sisi permukaan, Indonesia unggul. Apalagi soal masalah keamanan. Dengan begitu, Indonesia menjadi lebih menarik untuk masuknya investasi di hulu migas dengan sistem gross split ini.
Wiratmaja bahkan menjamin minimum investasi hulu migas di Indonesia akan mendapatkan IRR sebesar 12%. Namun, bila investor menemukan cadangan migas di lapangan yang kondisinya cukup baik, mereka bisa mendapatkan IRR hingga 20%. “Tergantung lapangan yang dia dapat,” katanya.
Sebagai gambaran, lapangan migas Indonesia saat ini mayoritas berada di wilayah marjinal atau laut dalam. Makanya pemerintah menyiapkan insentif berupa tambahan split dalam skema gross split ini. Supaya IRR-nya dapat di kejar. Kami kasih, minimum dia dapat IRR 12%,” ujarnya.
Pemerintah berharap skema gross split bisa membuat lapangan migas Indonesia menarik investor. “Investor jarang yang mau ke sini, buktinya lelang Wilayah Kerja (WK) ‘belum ada ada laku,” ujarnya. Pada tahun 2017 ini, pemerintah mulai menawarkan skema gross split. Wiratmaja berharap akan banyak investor yang mengikuti lelang blok migas Indonesia. Director of Indonesian Petroleum Association (IPA) Marjolijn Wajong mengungkapkan, IPA selalu disertakan, hampir di setiap rapat saat pemerintah akan mengeluarkan kebijakan baru.
Makanya, IPA mendukung skema gross split ini untuk efisiensi di industri migas. “Tapi kami ingin memastikan tingkat keekonomian tidak turun dengan sistem yang ada sekarang,” ujar dia. Marjolijn menyebut, saat ini investasi hulu migas di Indonesia memang kurang menarik dibandingkan dengan investasi di negara lain dalam satu kawasan. “Karena gross split,” ini sudah diundangkan, sebagai upaya continue improvement kami mohon kajian insentif terutama untuk laut dalam, voliter dan EOR (Enhanced Oil Recovery). Ke depannya kami mau kesana. Kami minta dibuat kajian lebih baik.
Dia belum bisa memberikan tanggapan soal gross split minimum IRR bisa 12%. “Saya belum pernah mendengar bahwa dengan gross split, minimum IRR adalah 12%. Apakah di Peraturan Menteri-nya ada menyebutkan hal itu? Saya akan periksa dulu, tetapi sebenarnya harus ada di Peraturan Menteri ESDM, kata dia.
Pengamat Energi dari ReforMiner Institute Pri Agung Rakhmanto menilai, kontraktor migas itu prinsipnya semakin tinggi IRR maka mereka akan semakin tertarik masuk. “IRR 12% mungkin termasuk ekonomis bagi kontraktor, tapi tergolong marginal. IRR 15% saja termasuk marginal,” kata Pri Agung Rakhmanto .
Dia mengatakan, cara sederhana membandingkan skema gross split dengan sebelumnya adalah berkaca pada IRR di lapangan migas eksisting yang sudah dikelola kontraktor migas. “Kalau dengan bagi hasil Eksisting mereka bisa di atas 15% IRR nya, lalu ditawari gross split dengan IRR 12%, ya pasti tidak akan kemudian begitu saja menerima
Catatan: Saat ini pemerintah hanya memberikan IRR 5% kepada Eni Indonesia sebagai operator Lapangan Jangkrik yang merupakan lapangan laut dalam.
Kontan, Page-14, Monday, Jan, 23, 2017
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