Interest in Large Companies, Gross Split Schemes Assessed More Interesting to Investors

By : Hariyanto And Aldo Bella Putra | Thursday, February 01 2018 - 19:00 IWST

Migas Ilustrasi
Migas Ilustrasi

INDUSTRY.co.id - Jakarta - Announcement of Working Area Auction (WK) Conventional Oil and Gas Year 2017 has proved Gross Split scheme increasingly attract investors. This is marked by the participation of large companies in the management of upstream oil and gas with Gross Split scheme.
"I reiterate that this is what wins with the Gross Split scheme of big companies, not small companies, which take these blocks of companies that really want to invest and have those three things, finance, technically and legally okay," said Arcandra on event Winners Announcement of the Conventional WK Offering of Oil and Gas at Ministry of Energy and Mineral Resources, Wednesday (31/1/2018).
Implementation of Gross Split scheme for large companies in upstream oil and gas will facilitate the business so as to make management efficiency.
"Our position is now promoting Gross Split instead of others, Gross Split will make ease of doing business better and we talk about efficiency and effectiveness with Gross Split," he said.
Furthermore, Arcandra also expressed his appreciation for the auction time process faster than usual. "Usually it takes two, three, four to six months, for this auction I target one month after closing we announced the winner," said Aracandra.
In addition, as long as the WK offerings are done transparently. "The process is all transparent, there is a judgment on why he won, all of these processes can be accepted by all parties," he said.
As is known, the Government announced 5 companies winning auction Conventional WK Phase I of 2017. Total investment value of USD 23.5 million and signature bonus of USD 3.5 million.
The five companies are Mubadala Petroleum (SE Asia) Ltd with Andaman I working area, Premier Oil Far East Ltd Consortium, Kriss Energy (Andaman II) BV, Mubadala Petroleum (Andaman II JSA) Ltd with Andaman II work area, PT Tansri Madjid Energy with the work area of ​​Merak-Lampung and PT. Saka Energi Sepinggan with work area of ​​Pekawai and West Yamdena.
The auction was extended to four times since the end of May 2017 pending approval of Government Regulation (PP) related to the Gross Split Taxation issued at the end of December 2017 (PP No. 53/2017).

News Comment

Today's Industry

PT Intiland Development Tbk (DILD) (Foto:beritasatu)

Rabu, 15 Agustus 2018 - 20:31 WIB

Intiland Development posted IDR142 billion in net profit

Property developer PT Intiland Development Tbk posted a net profit of Rp142 billion in the first half of 2018, down 39.2 percent compared to the same period in the previous year of Rp234 billion.

Presiden Jokowi dan KH Maruf Amin (Foto Dok Industry.co.id)

Rabu, 15 Agustus 2018 - 19:00 WIB

Report of Jokowi Verified Full President Wealth

Jakarta - The Corruption Eradication Commission (KPK) informs the State Organizational Assets Report (LHKPN) of Presidential Candidate Joko Widodo to be fully verified.

Mentan Andi Amran Sulaiman (Dok Industry.co.id)

Rabu, 15 Agustus 2018 - 18:30 WIB

Agricultural Productivity to Fight Food Mafia Becomes the Discussion of Ministerial Dialogue During Public Lecture at IPB

Bogor - The request of President Joko Widodo to realize the welfare of farmers is the cornerstone of the Ministry of Agriculture (Ministry of Agriculture) in carrying out various performance…

Komjen Pol Syafruddin Menpan-RB (Industry.co.id)

Rabu, 15 Agustus 2018 - 17:00 WIB

This is the Promise of Komjen Syafruddin, Minister of Administrative Reform and New Bureaucratic Reform

Jakarta - Minister of Administrative Reform and Reform of the Bureaucracy Syafruddin said he would complete the work program of his predecessor Asman Abnur until the end of the 2019 term.

Wakil Kepala Kepolisian RI (Wakapolri) Komisaris Jenderal Polisi, Syafruddin (makassar.tribunnews.com)

Rabu, 15 Agustus 2018 - 16:30 WIB

The National Police Chief will Consult Search for Substitute General Syafruddin

Jakarta - Police Chief of Police General Tito Karnavian admitted that he had not yet determined Syafruddin's successor to assume the position of Deputy Chief of Police.