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

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. Worldwide Petroleum Arrangements
2

3. Petroleum Contracts & Transfer of Ownership
*) Author’s illustration - Modified from Society of Petroleum Engineers (SPE)
3
3

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. Country’s Strategic Option
Reserves
Fiscal
Regimes
Strategic
Option
NOC
Governance
5

6. Proven Reserves (by Country)
6

7. Proven Reserves (by Country)
7

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. 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
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10. Governance in Oil & Gas Sector
Policy
Ministry
Policy
Gov’t Body/
Agency
NOC
Ministry
NOC
Policy
Ministry
NOC
10

11. Governance in Oil & Gas Sector
Source: Valerie Marcel, Oil Titans, NOC in the Middle East, Page 143
11

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. 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. 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. 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. 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. 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. 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. Net Oil Exporting and Importing Countries
Source: OPEC ASB, 2013, BP Statistical Review, 2013 and EIA
19

20. Different Case - Different Strategy
New
Blocks
Offered
Existing
Contracts
Expiring
Contracts
20

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. Oil and Gas Industry in Indonesia
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Cartoon: Courtesy Google
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23. Thank you
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