Praktek Tata Kelola Migas di Mancanegara

(Sebagai Benchmarking dalam rangka disain

tata kelola migas di tanah air)

Benny Lubiantara
-Fiscal Policy Analyst, Sekretariat OPEC, Vienna, Austria (Jan 2006 Feb 2013)
--Ketua Bidang Peraturan dan Kebijakan, Ikatan Ahli Teknik Perminyakan Indonesia (IATMI)
- Penulis Buku Ekonomi Migas
Disampaikan Dalam
Diskusi Publik Mencari Model Kelembagaan Sektor Hulu Migas Dalam Revisi Undang Undang Migas
yang diselenggarakan oleh PWYP Indonesia bekerjasama dengan Revenue Watch Institute
Jakarta, 4 Desember 2013

Worldwide Petroleum Arrangements

Petroleum Contracts & Transfer of Ownership

*) Authors illustration - Modified from Society of Petroleum Engineers (SPE)

3
3

Division of Gross Production

Concession

PSC

Service Contract

Gross
Production

Gross
Production

Gross
Production

Royalty

Royalty

Cost Oil
(Cost Recovery)

Costs
Deductions

Cost Oil
(Cost Recovery)

Profit Oil
(P/O)
Government
Income
Tax

Government

P/O
Companys
Production

Income Tax

Contractor
P/O

Service Fee

Income Tax

4
4

Countrys Strategic Option

Reserves

Fiscal
Regimes

Strategic
Option

NOC

Governance
5

Proven Reserves (by Country)

Proven Reserves (by Country)

Country-by-Country Evolution of Oil Production Capacity to 2020

Source: Leonardo Maugeri, Oil The Next Revolution, Harvard Kennedy School, June 2012

NOC (Ranking based on Reserves)

Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
25
26
29
30
32
43
44

Company
Saudi Aramco
NIOC
INOC
KPC
PDVSA
ADNOC
LNOC
CNPC
NNPC
Rosneft
Lukoil
Pemex
Sonatrach
ExxonMobil
QP
BP
Petrobras
Gazprom
Surgutneftegas
Petronas
Chevron
ConocoPhillips
Total
Shell
ONGC
PDO
Eni
CNOOC
Pertamina

Country
Saudi Arabia
Iran
Iraq
Kuwait
Venezuela
UEA
Libya
China
Nigeria
Russia
Russia
Mexico
Algeria
US
Qatar
UK
Brazil
Russia
Russia
Malaysia
US
US
France
UK/Netherlands
India
Oman
Italy
China
Indonesia

State
Ownership
(%)
100
100
100
100
100
100
100
100
100
75
100
100
100
4856
50
100

74
60
30
64
100

Reserves
(Million Barrels)
264.200
138.400
115.000
101.500
99.377
52.800
30.700
22.447
21.700
17.513
12.572
12.187
11.400
11.074
10.624
6.541
9.581
9.195
7.929
7.876
7.523
6.541
5.778
4.887
3.607
3.360
3.269
1.564
1.505

Governance in Oil & Gas Sector

Policy
Ministry

Policy

Govt Body/
Agency

NOC

Ministry

NOC

Policy
Ministry

NOC

10

Governance in Oil & Gas Sector

Source: Valerie Marcel, Oil Titans, NOC in the Middle East, Page 143
11

Governance in Oil & Gas Sector

(a)

(b)

Policy

Policy

Ministry

Directorate/
Govt Body/
Agency

Ministry

IOCs
NOC

NOC

IOCs

Algeria
Brazil
Indonesia
Mexico

Saudi
Arabia

(c)

Malaysia

Policy

Kazakhstan

Nigeria

Angola

Norway

No NOC
UK

IOCs
NOC

USA

Canada
Russia

Venezuela

Australia
12

Proven Reserves & Fiscal Regimes

JV, Limited access
No Access
Service Contract, Limited Access
Service Contract, Limited Access
No Access
JV Concession, limited access
JV Concession, limited access, (PSC failed)
JV Concession, PSC, limited access
PSC
JV Concession, PSC, limited access
JV Concession, PSC, limited access
Concession, open access
JV Concession, limited access
Concession, PSC,
No Access
JV Concession, PSC, limited access
JV Concession, PSC
PSC
Service contract, limited access
PSC
PSC
Concession, open access
PSC
PSC, Service contract
Concession, open access
PSC
PSC
Concession, open access
PSC
Concession, open access

13

One-size-fits-all model does not exist

Extra
Deepwater
Extra
Heavy OIl

High Cost
EOR
Conventional
E&P

Technical
Services

Low Cost
Brownfield

Development
Field

Projects Risk
The needs for IOCs
Involvement

14

Proven Reserves & NOC Share of Production

OPEC Middle
East, Venezuela

14

100%

Mexico, Brazil,
Norway, Algeria

NOC Share of Production

14
7

12

37
6

102

154
141

265
297

Nigeria

Malaysia

50%
10

Angola

Indonesia
4

0%
> 25 Billion Barrels

Proven Reserves

15

Proven Reserves & NOC Share of Production

Mexico, Brazil,
Norway, Algeria

14

100%

102

NOC Share of Production

14
7

No Access
Concession/ JV,
PSC,

12

PSC

37
6

OPEC Middle
East, Venezuela
154
141

265
297

No Access,
Service Contract

Nigeria

Malaysia

50%
PSC

10

Angola

PSC
Indonesia
4

0%
> 25 Billion Barrels

Proven Reserves

16

Proven Reserves & NOC Share of Production

14

100%

102

NOC Share of Production

14
7

154
141

12

265
297

37
6

50%
10

0%
> 25 Billion Barrels

Proven Reserves

17

Proven Reserves & NOC Share of Production

14

100%

102

NOC Share of Production

14
7

141

12

??
37
6

PSC

50%

154

No Access
Concession/ JV,
PSC,

265
297

No Access,
Service Contract

PSC
10

??

0%
> 25 Billion Barrels

Proven Reserves

18

Net Oil Exporting and Importing Countries

Source: OPEC ASB, 2013, BP Statistical Review, 2013 and EIA

19

Different Case - Different Strategy

New
Blocks
Offered

Existing
Contracts

Expiring
Contracts
20

Different Case - Different Strategy

New Blocks
Offered

Existing
Contracts

Expiring
Contracts

Attract Investors ?
Fiscal/Taxes Incentive to Encourage
Exploration Activities
Combination of Back end loaded
features : lower royalty/FTP
And Front- end loaded features :
progressive share, additional taxes,
etc.

Encourage EOR Development

Production Optimization
Encouraging Exploration Drillings
in Producing Blocks

Higher NOC (up to 100%)

Participation depending upon
the risk profiles
Higher NOC Share Less issue
on commercial Terms and
Conditions More Issue on
the ability of NOC to finance
the current and upcoming
E & P projects
21

Oil and Gas Industry in Indonesia

22
Cartoon: Courtesy Google

22

Thank you

23