COMPARISON OF FISCAL SYSTEM PRODUCTION SHARING CONTRACT (PSC) (CONVENTIONAL AND GROSS SPLIT) INDONESIA WITH PSC ALGERIA AND MALAYSIA AND TECHNICAL SERVICE CONTRACT (TSC) IRAQ

• Main Author: FADLILA (NIM : 22214030), EVA
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/22002
• Institution: Institut Teknologi Bandung

System Production Sharing Contract (PSC) has been applied in the Indonesian oil and gas industry as a pioneer of these systems are characterized by systems PSC first contract in 1966. To date, the PSC system is already used in many countries. The contract between the oil company as a contractor and the government as the owner of the state oil and gas fields based on the principle of risk sharing. However, the company actually face uncertainty, particularly relating to the risk of exploration activity. <br /> <br /> Economic analysis needed to be done when the oil or gas have been found. At this stage, oil and gas companies are faced with investment decisions that allow certain risks go up or down. In fact, today is very challenging to find oil reserves in place are economical. Fiscal system more flexible is needed to balance the risk between investors and governments. <br /> <br /> This study tried to simulate the output to the economic model of the various fiscal systems implemented by countries in the world, Indonesia is implementing PSC Indonesia without sliding scale, Algeria and Malaysia are applying the sliding scale and the PSC with Iraq could implement TSC (Technical Service Contract). <br /> <br /> Simulation output will be compared to determine the fiscal system gives more flexibility in the face of the uncertainty of the amount of oil reserves that can be taken, the uncertainty of oil prices, the magnitude of the investment and the risk incurred / faced by investors. Comparison was also undertaken to determine the fiscal system gives more flexibility in the face of lack pastiaan massive oil reserves that can be taken, the uncertainty of oil prices, the magnitude of the investment and the risk incurred / faced by investors. Ultimately it will be given an overview alternatiflebih provide flexibility in the face of lack pastiaan massive oil reserves that can be taken, the uncertainty of oil prices, the magnitude of the investment and the risk incurred / faced by investors