EVALUASI KELAYAKAN WILAYAH KERJA X SECARA KETEKNIKAN DAN KEEKONOMIAN PASCA BERAKHIR KONTRAK KERJA SAMA
This study examines and evaluates if the contract of one particular oil and gas working area has been expired and the contractor has freedom to choose whether he will extend his contract with its current scheme or not at all. In this case, “X” working area has terminated its contract period in the e...
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| Format: | Final Project |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/45269 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | This study examines and evaluates if the contract of one particular oil and gas working area has been expired and the contractor has freedom to choose whether he will extend his contract with its current scheme or not at all. In this case, “X” working area has terminated its contract period in the end of 2017. In accordance with the relevant laws and regulations in PP Nomor 35 Tahun 2004, if the working area’s contract has been expired, the contract should be extented for 20 (twenty) years with a profitable circumstance for the state. The contractor may propose the extention of the contract to the Minister of Energy and Mineral Resources of the Republic of Indonesia (ESDM) with a requisition that the government must be informed about the condition and its potential both technically and economically. Therefore, a comprehensive evaluation is necessary to determine the terms and conditions for the management of the "X" Working Area. Evaluation of "X" Working Area aims to comprehend technical feasibility as well as economics by using the appropriate contract schemes, namely PSC-CR (Production Sharing Contract-Cost Recovery) and PSC-GS (Production Sharing Contract-Gross Split).Technically, the Decline Curve Analysis method is used to estimate the rate of production for the next 20 (twenty) years and its reserves in the "X" Working Area. The results of the production estimates based on the development plan turned to be a recommendation in determining the technical feasibility of the "X" Working Area.
Economically, the PSC-Cost Recovery and PSC-Gross Split contract schemes are implemented. In this case, there are three case studies namely, Pessimistic Rate, Moderate Rate, and Optimistic Rate. The economic evaluation undertaken proves that from the results, the PSC-Cost Recovery contract scheme is more appropriately and economically feasible than PSC-Gross Split for Pessimistic Rate and Moderate Rate. Meanwhile, for Optimistic Rate, the PSC-Gross Split is more appropriately and economically feasible than PSC-Cost Recovery. |
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