IMPLIKASI BERUBAHNYA KONTRAK BAGI HASIL (PRODUCT SHARING CONTRACT) KE KONTRAK BAGI HASIL GROSS SPLIT TERHADAP INVESTASI MINYAK DAN GAS BUMI DI INDONESIA

2018 ◽  
Vol 6 (2) ◽  
pp. 160
Author(s):  
Andrey Hernandoko ◽  
Mochammad Najib Imanullah
Keyword(s):  
Oil And Gas ◽  
Secondary Data ◽  
Gas Production ◽  
Cost Recovery ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Internal Rate ◽  
Production Sharing ◽  
The Government ◽  
Construction Works

<p>Abstract<br />This study is aimed to know the differences between Product Sharing Contract and Gross Split along with the effects that appear in investment sector on the change of Product Sharing Contract to Gross Split. This study is based on the result of normative law study which has descriptive characteristic. The kind of data which was used was secondary data which was obtained by using literature review data collecting technique, the next was analyzed by doing law interpretation systematically. Systematic means by making classifications toward those written law materials to ease analysis and construction works. The results of this study showed the differences between Production Sharing Contract and Gross Split were that in Gross split has no longer familiar with cost recovery and base split in gross split were 57%:43% for oil production and 52%:48% for natural gas production. Moreover, in Gross split there was no First Tranche Petroleum and inside Gross Split there were variable components and progressive components to the additional of contractor split. Beside that, the authority of SKK Migas in the post implementation of Gross Split was changed in their orientations into focusing on exploration production, security, work safety, domestic component,even human resources matter. The second, Gross Split could give and increase oil and gas investmentclimate in Indonesia because it was more profitable than PSC. This was showed from Internal Rate of Return (IRR) Gross Split which bigger than PSC (Gross Split 28,8%, PSC 24,8%) if the contractor is efficient in operating and managing faster time than Production Sharing Contract, but the government needs to make a rule in Gross Split become Government Regulations and make easier the permission so that it can optimize oil and gas investment situation in Indonesia.</p><p>Key words: product sharing contract; gross split; implication; investment.</p><p>Abstrak<br />Kajian ini bertujuan untuk mengetahui perbedaan antara Kontrak Bagi Hasil (Product Sharing Contract) dan Kontrak Bagi Hasil Gross Split serta akibat yang ditimbulkan di bidang investasi atas perubahan Kontrak Bagi Hasil (Product Sharing Contract) ke Kontrak Bagi Hasil Gross Split. Kajian ini didasarkan atas  hasil  kajian  hukum  normatif  yang  bersifat  deskriptif.  Jenis  data  yang  digunakan  berupa  data sekunder yang diperoleh teknik pengumpulan data studi pustaka, yang selanjutnya dianalisis dengan melaksanakan penafsiran hukum secara sistematis. Sistemasi berarti, membuat klasifikasi terhadap bahan-bahan hukum tertulis tersebut, untuk memudahkan kerjaan analisa dan konstruksi. Hasil dari kajian ini menunjukkan perbedaan antara Production Sharing Contract dengan Gross Split adalah dalam Gross Split sudah tidak mengenal cost recovery dan base split dalam gross split adalah 57%:43% untuk produksi minyak dan 52%:48% untuk produksi gas bumi. Selain itu di dalam Gross Split sudah tidak ada lagi First Tranche Petroleum, dan di dalam Gross Split terdapat komponen variabel dan komponen progresif untuk tambahan split kontraktor. Selain itu kewenangan SKK Migas pasca penerapan Gross Split berubah orientasinya menjadi fokus pada produksi eksplorasi, keamanan, dan keselamatan kerja, Tingkat Komponen Dalam Negeri (TKDN), hingga persoalan sumber daya manusia. Yang kedua, Gross Split dapat memberikan iklim investasi migas di Indonesia meningkat karena lebih menguntungkan dari PSC. Hal ini terlihat dari Internal Rate of Return (IRR) Gross Split yang lebih besar yakni sebesar 28,8% daripada PSC yang hanya 24,8% jika kontraktor dapat efisien dalam beroperasi dan efisiensi waktu yang <br />lebih cepat daripada Production Sharing Contract, namun pemerintah perlu membuat aturan Gross Split  menjadi Peraturan Pemerintah dan lebih mempermudah perizinan agar dapat mengoptimalkan suasana investasi migas di Indonesia.</p><p>Kata Kunci: kontrak bagi hasil; kontrak bagi hasil gross split; implikasi; investasi.</p>

Analisis Kelayakan Finansial Usaha Ternak Ayam Kampung Super (Studi Kasus pada Peternakan Suparlan di Desa Jojog Kecamatan Pekalongan Kabupaten Lampung Timur)

1970 ◽  
Vol 3 (1) ◽  
Author(s):  
Fikri Fathurahman Aziz
Keyword(s):  
Return On Investment ◽  
Net Present Value ◽  
Secondary Data ◽  
Payback Period ◽  
Rate Of Return ◽  
Primary Data ◽  
Cost Ratio ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Internal Rate

This study aims to analyze financially (net present value, revenue cost ratio, internal rate of return, break event point, return on investment and payback period) feasibility of kampung super chicken farming Mr. Suparlan in Jojog village, district Pekalongan, East Lampung regency. The data used in the form of quantitative and qualitative data sourced from the primary data and secondary data which is then analyzed descriptively. Based on the analysis, it is known that kampung super farm is financially feasible to cultivate. This is indicated by the positive value of net present value (NPV) of Rp 186,568,517, revenue ratio (RCR) 1.59, internal rate of return (IRR) of 135.82%, return on investment (ROI) of 43%, and the value of payback period (PP) of 0.50. Keywords: financial feasibility, kampung chicken, chicken farm

What Hit and Miss in Indonesia CBM Project : Empirical Study Slowing Down Factors CBM Development and Propose Suitable Action for CBM Development in Indonesia by Using Analytical Hierarch Process.

2021 ◽  
Author(s):  
I.A. Firdaus
Keyword(s):  
Oil And Gas ◽  
Economic Value ◽  
Gas Production ◽  
Coal Bed ◽  
Production Sharing ◽  
High Investment ◽  
The Government ◽  
Exploration Period ◽  
Production Areas ◽  
Testing Standards

In 2008, the first Coal Bed Methane (CBM) PSC was signed in Indonesia. To date, 54 CBM PSCs have been awarded to explore and develop CBM Block in Indonesia. Twelve years later, only one PSC has submitted a Plan of Development but has not yet produced gas commercially. Most CBM PSCs have been struggling during the 10 years’ exploration period and some may receive extensions for 3 years under specific conditions. The lack of integrated authorities’ approval in the overlay of coal mining and natural gas production areas has become a great obstacle for CBM Development. Besides that, the government regulations in CBM activities have defects in PSC contract terms that may lead marginal economic value for contractors, especially due to high investment during the early development (C. Irawan, 2017). On the other hand, drilling regulations, Pipe Classing standards and Testing Standards following the Oil and Gas standards are too expensive for CBM Investment. According to our observations, CBM Regulations in Indonesia should be modified starting from the Exploration period, Production Sharing Contract Terms and Standard Operating Procedures to suit Indonesian CBM characteristics. Good coordination within government departments is a must for the success of CBM Exploration and Development.

Legal Safeguards in Egypt's Petroleum Concession Agreements

2008 ◽  
Vol 22 (4) ◽  
pp. 387-396
Author(s):  
Minas Khatchadourian
Keyword(s):  
Host Country ◽  
Oil And Gas ◽  
Gas Production ◽  
Foreign Investors ◽  
Oil Companies ◽  
Production Sharing ◽  
Arbitration Clause ◽  
Legal Perspective ◽  
The Government ◽  
Oil Company

This article deals with the concession contracts for the exploration and the production of oil and gas in Egypt. Such tripartite contracts are concluded between the Government of Egypt (GOE) as the host country, a National Oil Company (NOC) as the concession holder and an international oil company (IOC) as the foreign contractor who receives a part of the oil or gas production on a production sharing agreement (PSA). From an Egyptian legal perspective, this contract is qualified as a State contract which is supposed to give the Government some exorbitant powers towards its counterparts. However, in order to attract foreign investors into this kind of agreement and encourage international oil companies to explore natural resources, several legal safeguards are incorporated in the concession agreement. Examples of this include placing the contract in the framework of a legislative act, granting the contract a supremacy on any contrary legislation, stabilization clause, adaptation of the contract through renegotiation, arbitration clause, etc.

scholarly journals Analisis Finansial Agroindustri Pengolahan Minyak Kemiri Di Kecamata Ulee Kareng Banda Aceh

2017 ◽  
Vol 2 (2) ◽  
pp. 96-101
Author(s):  
Hendri Fadhli ◽  
Azhar Gani ◽  
Teuku Fauzi
Keyword(s):  
Net Present Value ◽  
Secondary Data ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Net Benefit ◽  
Oil Processing ◽  
Internal Rate ◽  
Break Even Point ◽  
Benefit Cost

ANALISIS KEUNTUNGAN AGROINDUSTRI PENGOLAHAN MINYAK KEMIRI DI KECAMATAN ULEE KARENGHendri Fadhli1,T. Fauzi2, Azhar3 1Program Studi Agribisnis, Fakultas Pertanian, Universitas Syiah Kuala ABSTRAKKemiri merupakan sumber daya alam yang dapat diperbaharui serta memiliki ragam keunggulan, nilai ekonomis karena kemiri ialah salah satu dari hasil tani yang banyak dimanfaatkan oleh manusia, mulai dari bumbu dapur, obat-obatan serta mengatasi kerontokan pada rambut. Perlu diarahkan suatu analisis usaha untuk kepentingan pengelolaan menyangkut dengan besarnya penggunaan modal yang keuntungan yang diperoleh. Tujuan dari penelitian ini adalah untuk mengetahui berapa besar tinggakat keuntungan  yang diperoleh agroindustri pengolahan minyak kemiri yang berlabel Malem Diwa, Metode yang digunakan dalam penelitian ini adalah studi kasus data yang digunakan adalah data primer dan skunder. Pada metode analisis menggunakan Net Present Value (NPV), Internal Rate of Return (IRR), Net Benefit Cost Rath (Net B/C), Pay Back Period (PBP). Hasil penelitian menunjukkan bahwa pengolahan minyak kemirio memberikan keuntungan, bersih pada tahun pertama ialah sebesar Rp. 44.999.479 nilai ini menunjukkan lebih besar dari BEP sebesar Rp. 20.770.260, BEP (Break-Even Point). BEP atau titik impas merupakan keadaan yang menggambarkan suatu perusahaan yang tidak memperoleh laba dan juga tidak menderita kerugianKata kunci : Pengolahan, minyak kemiri , keuntunganABSTRACTCandlenut is a renewable natural resource that has a range of advantages and economic value because it is one of agricultural products that is widely used as herb, drug and even hair loss prevention. A business analysis needs to be directed for the importance of management regarding the amount of capital use and the benefit earned. The aim of this study was to find out the level of benefit earned by a candlenut oil processing agroindustry labeled Malem Diwa. The method used in this study was a case study, while the data used was primary and secondary data. Furthermore, the analysis methods used were Net Present Value (NPV), Internal Rate of Return (IRR), Net Benefit Cost Rath (Net B/C) and Pay Back Period (PBP). The study result showed that candlenut oil processing provided benefit. The net benefit in the first year was Rp. 44,999,479. This number was greater than BEP (Break-Even Point), which was Rp. 20,770,260 million. BEP or Break-Even Point is a condition that describes a company which makes neither a profit nor a loss.Keywords: Processing, Candlenut Oil, Benefit 

scholarly journals Gross Split Contract Framework Regulation on the Caring for People

BESTUUR ◽  
2020 ◽  
Vol 8 (2) ◽  
pp. 96
Author(s):  
Kirana Intaniasari
Keyword(s):  
Oil And Gas ◽  
Secondary Data ◽  
Study Data ◽  
Gas Production ◽  
Literature Study ◽  
Oil And Gas Production ◽  
Production Sharing ◽  
The People ◽  
The Times ◽  
Sharing Patterns

<p>This study aims to determine the model of oil and gas governance in Indonesia in terms of the interests of the State to protect natural resources that should be controlled for maximum use for the prosperity of the people. This study is based on the results of normative legal studies that are descriptive. The type of data used is secondary data obtained from literature study data collection techniques, which are then analyzed by carrying out systematic interpretation of the law. Systematic means, making a classification of written legal materials, to facilitate the work of analysis and construction. The results of this study show that oil and gas management arrangements began in the Dutch colonial period and continue to change with the times up to now, specifically the regulation of upstream oil and gas. Upstream oil and gas management has changed several times, namely the Concession system, the Contract of Work system, Production Sharing Contract (PSC) and finally the Gross Split Production Sharing Contract. The emergence of Gross Split aims to improve the PSC system and improve the efficiency and effectiveness of oil and gas production sharing patterns. Even though Gross Split still has weaknesses, but when compared to the previous system, Gross Split is more in line with the country's goal of being as broad as possible for the people.</p><p> </p><p><strong>  </strong><strong>Keywords:</strong> Mining; Gross Split; Welfare State.</p>

scholarly journals FEASIBILITY STUDY HOTEL DI BENGKALIS (STUDI KASUS HOTEL WISMA KITO BENGKALIS)

2018 ◽  
Vol 6 (2) ◽  
pp. 170
Author(s):  
Muhammad Alkadri Perdana ◽  
Hutomo Atman Maulana
Keyword(s):  
Feasibility Study ◽  
Net Present Value ◽  
Secondary Data ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Present Value ◽  
Period Analysis ◽  
Internal Rate ◽  
Point Analysis ◽  
Break Even Point

Investment in hotel business is a high-risk decision because it requires very large capital and aims to benefit in the future. To minimize risk and estimate the amount of profit to be obtained, a feasibility study of investment is needed. This study aims to find out the breakdown of the calculation of business investments made in hotels in Bengkalis Regency in detail. Feasibility Study is conducted to find out whether or not investment in hotel development in Bengkalis Regency is worthy. This feasibility study was carried out using the calculation of Break Even Point Analysis (BEP), Net Present Value (NPV), Pay Back Period Analysis and Internal Rate of Return (IRR). Research data collection was carried out through surveys, interviews and direct observation to the location. This study also uses secondary data from the Bengkalis Regency Central Statistics Agency. The results of this study show that Break Event Point (BEP) is 31 years 11 months 11 days, Net present Value (NPV) is Rp.2.536.661.016, and Internal Rate of Return (IRR) is 12,512%.

scholarly journals Utilizing Production Sharing Contracts (PSCs) as a Means for the Protection of Indonesia’s Natural Resources

Lentera Hukum ◽  
2019 ◽  
Vol 6 (3) ◽  
pp. 393
Author(s):  
Hari Sutra Disemadi ◽  
Sahuri Lasmadi
Keyword(s):  
Natural Resources ◽  
Oil And Gas ◽  
Legal Protection ◽  
Secondary Data ◽  
Primary Sources ◽  
State Control ◽  
Production Sharing ◽  
The People ◽  
The Government ◽  
The Right

Indonesia has the potential to manage natural resources in such a way that social justice, public welfare, and the prosperity of the people is also realized. Contract law is the primary legal umbrella used in efforts to protect natural resources from exploitation. This study uses normative juridical methods that prioritize secondary data as the primary sources. This study shows the form of the legal protection of state assets related to oil and gas management including the government has the right of immunity, the existence of provisions regarding state revenue, state levies, and bonuses and the existence of provisions for contractors to distribute a portion of the production share. Thus, the government uses Production Sharing Contracts (PSC) to enter into oil and gas management agreements with contractors, specifically regarding upstream business activities. The Oil and Gas Law does not elaborate on the meaning of the PSC. Rather, it only states that the PSC is one form of the contracts. Keywords: Production Sharing Contract, State Control, Protection of Natural Resources.

scholarly journals Combining capital grant and availability payment to keep toll rates affordable

2021 ◽  
Author(s):  
Cesar A Queiroz ◽  
Goran Mladenović
Keyword(s):  
Public Support ◽  
Transport Infrastructure ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Financial Model ◽  
Coverage Ratio ◽  
Internal Rate ◽  
The Government ◽  
Private Investors ◽  
The Impact

In several countries public budgets cannot provide all the funds needed to build priority transport and other infrastructure projects that are economically justified and environmentally and socially sound. Under certain circumstances, projects meeting such conditions can be implemented by involving private financing, through public-private partnerships (PPP), which is a means to get projects completed by leveraging scarce public resources. Priority highway PPP projects may require toll rates above the affordability level of road users, particularly when construction costs are relatively high and traffic volumes are relatively low. The provision of capital grants and/or availability payments to the concessionaire (i.e., the private partner) by the government (i.e., the public partner) would reduce the toll rate required to attract private investors for the project. Such projects, where the sources of revenue to the private partner (or concessionaire) include both the users of the facility and the government, are usually called hybrid PPPs. A key step in assuring that a proposed PPP highway project would attract private investors is to determine whether financial public support would be required, and if so, how much. To this endeavor, this paper reviews and applies a hybrid PPP financial model for highways that facilitates carrying out projects' financial viability by decision makers and practitioners. A numerical case study is used to illustrate applications of the model to conditions deemed representative of Southeastern European countries. The main outputs generated by the model include the project’s internal rate of return, equity internal rate of return, annual debt service coverage ratio, and the present value of the government’s cash flow. A sensitivity analysis carried out shows the impact of key input parameters on the main outputs. While the financial model discussed has been developed for roads, it can also be adapted to other forms of transport infrastructure, such as rail.

scholarly journals FINANCIAL EVALUATION OF NAIMI SHEEP FATTENING SYSTEMS IN AL-AHSA GOVERNORATE, KINGDOM OF SAUDI ARABIA

2019 ◽  
Vol 50 (6) ◽  
Author(s):  
Ameen & et al.
Keyword(s):  
Net Present Value ◽  
Secondary Data ◽  
Red Meat ◽  
Rate Of Return ◽  
Internal Rate Of Return ◽  
Financial Evaluation ◽  
Internal Rate ◽  
Two Systems ◽  
External Sources ◽  
The Cost

This research was aimed at conducting a financial evaluation of sheep feeding systems in Al-Ahsa in KSA to identify the feasibility of investing in these projects. By field study, identified two systems for fattening the first system of fattening for 4 months, 3 cycles a year, and the second system of fattening for 6 months, two cycles a year. Secondary data collected by the Ministry of Environment, Water and Agriculture, the annual statistical book, a random sample of sheep breeders in Al-Ahsa governorate. The criteria for financial evaluation of projects are used. The results showed that the system of fattening for 4 months better than the other system, where the internal rate of return (IRR) for the first system 84% compared to 62% for the second, respectively. While the ratio of revenues to the cost of the two systems amounted to about 1.27, while the net present value amounted to 2592, 2160.7 thousand riyals respectively. In the absence of support, the preference of the fattening system are also shown for 4 months, with an internal rate of return of about 44% compared to 34% for the fattening system for 6 months. The study recommends directing the largest amount of Saudi investment to agricultural investment, particularly in the field of animal production, and encouraging investment in red meat manufacturing, to reduce reliance on imports from unsafe external sources and to achieve an appropriate level of food security in red meat.

scholarly journals Kajian Kelayakan Finansial Fotovoltaik Terintegrasi On Grid Dengan Kapasitas 20 kWp

Kilat ◽  
2021 ◽  
Vol 10 (1) ◽  
pp. 1-9
Author(s):  
Muchamad Nur Qosim ◽  
Rinna Hariyati
Keyword(s):  
Power Plant ◽  
Oil And Gas ◽  
Solar Power ◽  
Electrical Energy ◽  
Rate Of Return ◽  
Solar Power Plant ◽  
Internal Rate Of Return ◽  
Industrialized Countries ◽  
Internal Rate ◽  
The Interest Rate

ABSTRACT   Entering the 21st century, oil and gas supplies are running low. While the need for energy is increasing, especially in industrialized countries, it will increase to 70% between 2000 and 2030. In 2017, the electricity needs will reach 25.4 trillion kWh. Solar energy that can be generated for the entire Indonesian mainland which has an area of ​​± 2 million km2 with a radiation distribution of 4.8 kWh/m2/day is 5.10 mW, equivalent to 112,000 gWp. Investment costs include the costs of purchasing all required solar power plant components, such as the cost of purchasing solar modules and purchasing an inverter. Obtained the Internal Rate of Return (IRR) is more than the interest rate, which is 27.11% and it can be concluded that the planning of the on-grid solar power plant in the 20 KWP capacity system can be said to be feasible.     Keyword: Solar Cell, investment, electrical Energy     ABSTRAK Memasuki abad 21, persediaan minyak dan gas bumi semakin menipis. Sementara kebutuhan akan energi semakin meningkat, utamanya di negara-negara industri akan meningkat sampai 70% antara tahun 2000 sampai dengan 2030. Pada tahun 2017, kebutuhan energi listrik mencapai 25,4 trilyun kWh. Energi surya yang dapat dibangkitkan untuk seluruh daratan Indonesia yang mempunyai luas ±2 juta km2 dengan distribusi penyinaran sebesar 4,8 kWh/m2/hari adalah sebesar 5,10 mW atau setara dengan 112.000 gWp. Biaya investasi mencakup mengenai biaya pembelian semua komponen pembangkit listrik tenaga surya yang dibutuhkan, seperti biaya pembelian modul surya dan pembelian inverter. Diperoleh Internal Rate of Return (IRR) lebih dari tingkat suku bunga, yaitu 27,11% dan dapat disimpulkan bahwa perencanaan PLTS on-grid di system kapasitas 20 KWP ini dapat dikatakan layak.     Kata kunci: Cel surya, investasi, Energi listrik  

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