Praktek Tata Kelola Migas di Mancanegara
(Sebagai “Benchmarking” dalam rangka disain
tata kelola migas di tanah air)

Benn...
Worldwide Petroleum Arrangements

2
Petroleum Contracts & Transfer of Ownership

*) Author’s illustration - Modified from Society of Petroleum Engineers (SPE)...
Division of Gross Production
Concession

PSC

Service Contract

Gross
Production

Gross
Production

Gross
Production

Roya...
Country’s Strategic Option

Reserves

Fiscal
Regimes

Strategic
Option

NOC

Governance
5
Proven Reserves (by Country)

6
Proven Reserves (by Country)

7
Country-by-Country Evolution of Oil Production Capacity to 2020

Source: Leonardo Maugeri, Oil – The Next Revolution, Harv...
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

Compan...
Governance in Oil & Gas Sector
Policy
Ministry

Policy

Gov’t 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/
Gov’t Body/
Agency

Ministry

IOCs
NOC

NO...
Proven Reserves & Fiscal Regimes
JV, Limited access
No Access
Service Contract, Limited Access
Service Contract, Limited A...
One-size-fits-all model does not exist
Extra
Deepwater
Extra
Heavy OIl

High Cost
EOR
Conventional
E&P

Technical
Services...
Proven Reserves & NOC Share of Production
OPEC Middle
East, Venezuela

14

100%

Mexico, Brazil,
Norway, Algeria

NOC Shar...
Proven Reserves & NOC Share of Production
Mexico, Brazil,
Norway, Algeria

14

100%

102

NOC Share of Production

14
7

N...
Proven Reserves & NOC Share of Production

14

100%

102

NOC Share of Production

14
7

154
141

12

265
297

37
6

50%
1...
Proven Reserves & NOC Share of Production

14

100%

102

NOC Share of Production

14
7

141

12

??
37
6

PSC

50%

154

...
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...
Oil and Gas Industry in Indonesia

22
Cartoon: Courtesy Google

22
Thank you

23
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Praktek Tata Kelola Migas di Mancanegara

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Materi Presentasi Bapak Benny Lubiantara
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

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Praktek Tata Kelola Migas di Mancanegara

  1. 1. 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 1
  2. 2. Worldwide Petroleum Arrangements 2
  3. 3. Petroleum Contracts & Transfer of Ownership *) Author’s illustration - Modified from Society of Petroleum Engineers (SPE) 3 3
  4. 4. 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 Company’s Production Income Tax Contractor P/O Service Fee Income Tax 4 4
  5. 5. Country’s Strategic Option Reserves Fiscal Regimes Strategic Option NOC Governance 5
  6. 6. Proven Reserves (by Country) 6
  7. 7. Proven Reserves (by Country) 7
  8. 8. Country-by-Country Evolution of Oil Production Capacity to 2020 Source: Leonardo Maugeri, Oil – The Next Revolution, Harvard Kennedy School, June 2012 8
  9. 9. 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 9
  10. 10. Governance in Oil & Gas Sector Policy Ministry Policy Gov’t Body/ Agency NOC Ministry NOC Policy Ministry NOC 10
  11. 11. Governance in Oil & Gas Sector Source: Valerie Marcel, Oil Titans, NOC in the Middle East, Page 143 11
  12. 12. Governance in Oil & Gas Sector (a) (b) Policy Policy Ministry Directorate/ Gov’t 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
  13. 13. 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
  14. 14. 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 Project´s Risk The needs for IOC´s Involvement 14
  15. 15. 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
  16. 16. 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
  17. 17. Proven Reserves & NOC Share of Production 14 100% 102 NOC Share of Production 14 7 154 141 12 265 297 37 6 50% 10 4 0% > 25 Billion Barrels Proven Reserves 17
  18. 18. 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 4 ?? 0% > 25 Billion Barrels Proven Reserves 18
  19. 19. Net Oil Exporting and Importing Countries Source: OPEC ASB, 2013, BP Statistical Review, 2013 and EIA 19
  20. 20. Different Case - Different Strategy New Blocks Offered Existing Contracts Expiring Contracts 20
  21. 21. 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
  22. 22. Oil and Gas Industry in Indonesia 22 Cartoon: Courtesy Google 22
  23. 23. Thank you 23

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