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

Ponemon Institute

Selasa, 16 April 2019 - 11:16 WIB

2019 Ponemon Study on Automation and Cybersecurity Staffing in Asia Pacific, United States and the UK shows an evolving Asia Pacific cybersecurity arena

2019 Ponemon Study on Automation and Cybersecurity Staffing in Asia Pacific, United States and the UK shows an evolving Asia Pacific cybersecurity arena

Hypertherm software

Selasa, 16 April 2019 - 10:57 WIB

Hypertherm Unveils New Home for Cam Software Content

Hypertherm unveils new home for CAM software content HANOVER, N.H. — April 16, 2019 — Hypertherm, a U.S. based manufacturer of industrial cutting systems and software, is unveiling a brand-new…

Etihad Airways airline (Foto Ist)

Kamis, 11 April 2019 - 12:44 WIB

ETIHAD AIRWAYS TO INTRODUCE BOEING 787 ON SERVICES TO KUALA LUMPUR AND BRUSSELS

ETIHAD AIRWAYS TO INTRODUCE BOEING 787 ON SERVICES TO KUALA LUMPUR AND BRUSSELS

Synopsys Recognized as a Leader in Independent Analyst Report on Software Composition Analysis Solutions

Kamis, 11 April 2019 - 12:34 WIB

Synopsys Recognized as a Leader in Independent Analyst Report on Software Composition Analysis Solutions

Synopsys Recognized as a Leader in Independent Analyst Report on Software Composition Analysis Solutions

Grab (Ist)

Kamis, 11 Oktober 2018 - 12:36 WIB

Women Activists Criticize GRAB Indonesia on Victims Harassment Mediation

A number of women activists express their anger and regret at the GRAB Indonesia. The Malaysian applicator response to bring together between a driver partner who is allegedly harassed his passengers…