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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Christina Desy
As the end of the year draws nearer, the government is striving to finalize the 2015 State Budget Draft (RAPBN). Between October and December, the RAPBN must be reviewed by the House of Representatives (House) before being approved and issued as a law and then implemented over the whole of 2015.
One of the most important elements under the RAPBN is cost recovery in the oil and gas sector. This covers the budget component for the government’s reimbursement payments for operational costs incurred by oil and gas contractors for exploration and exploitation of oil and gas resources. Cost recovery is agreed under the production sharing contract scheme. These costs are deducted before profits are shared between the government and contractors.
For the 2015 RAPBN, the amount for oil and gas cost recovery has been set at USD 16 billion, or approximately IDR 191 trillion. This is lower than the number proposed by the Oil and Gas Special Working Unit (SKK Migas), representing the government, which was USD 17.8 billion. The figure represents an increase of USD 2.8 billion compared to 2014.
According to Johanes Widjonarko, Head of SKK Migas, three elements are taken into account for the determination, namely un-recovered costs, current year operating costs and depreciation costs.
The un-recovered costs allocation is for any costs which cannot be reimbursed during the current operational year due to insufficient production. Current year operating costs covers operational and administration costs in the exploration, development, and production stages. Depreciation costs cover agreed capital expenditure.
Satya W Yudha, lawmaker from the Functional Group Party (Golkar), said that he understands the necessary to increase the cost recovery fund. He added, however, that the government must break down the details of cost recoveries as state funds will be used pay contractors.
(hot/kc)
Fathan Qorib, Christina Desy
As the end of the year draws nearer, the government is striving to finalize the 2015 State Budget Draft (RAPBN). Between October and December, the RAPBN must be reviewed by the House of Representatives (House) before being approved and issued as a law and then implemented over the whole of 2015.
One of the most important elements under the RAPBN is cost recovery in the oil and gas sector. This covers the budget component for the government’s reimbursement payments for operational costs incurred by oil and gas contractors for exploration and exploitation of oil and gas resources. Cost recovery is agreed under the production sharing contract scheme. These costs are deducted before profits are shared between the government and contractors.
For the 2015 RAPBN, the amount for oil and gas cost recovery has been set at USD 16 billion, or approximately IDR 191 trillion. This is lower than the number proposed by the Oil and Gas Special Working Unit (SKK Migas), representing the government, which was USD 17.8 billion. The figure represents an increase of USD 2.8 billion compared to 2014.
According to Johanes Widjonarko, Head of SKK Migas, three elements are taken into account for the determination, namely un-recovered costs, current year operating costs and depreciation costs.
The un-recovered costs allocation is for any costs which cannot be reimbursed during the current operational year due to insufficient production. Current year operating costs covers operational and administration costs in the exploration, development, and production stages. Depreciation costs cover agreed capital expenditure.
Satya W Yudha, lawmaker from the Functional Group Party (Golkar), said that he understands the necessary to increase the cost recovery fund. He added, however, that the government must break down the details of cost recoveries as state funds will be used pay contractors.
(hot/kc)