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Lisensi Alokasi Kriteria Financial dan Teknikal

On the license allocation to the technical and financial criteria in the oil and gas sector and minerba 2015:

In the oil and gas sector is the list of transfer of participating interest (PI) and regulations such as the EITI report as follows:

Transfer of Participating Interest (PI) for Oil and Gas.

The definition of Participating Interest stated in the Regulation of the Minister of Finance No. 257/2011 is Cooperation Contract Contractor’s right and obligation, either directly or indirectly, on a working area.

PI transfer must be approved by Minister of EMR and take into account SKK Migas’ considerations as stipulated by Article 33 of GR No.35/2004 and Articles 3 and 4 of the Regulation of Minister of EMR No. 48/2017. In addition, Article 2 (a) of the Regulation of Minister of EMR No. 48/2017 arranges that minister’s approval is not only needed for transfer of share, but also changes in board of director and/or commissioner.

During the first three years of exploration, contractors may not transfer PI to parties that are not affiliated to the company. If contractors wish to disclose data for the purpose of PI transfer to other parties, the disclosure needs to be approved by the Minister of EMR through SKK Migas. Contractors are required to offer 10% PI (to replace investments equivalent of 10%) to Local-Owned Enterprises (LOE). LOE may not sell its PI, partially or entirely, for three years since the effective date of participation.

Article 5 of the Regulation of MoEMR No. 48/2017 regulates the procedure for a 10% (ten percent) participating interest transfer upon approval of the first field development to be produced in accordance with the laws and regulations concerning the 10% participating interest offering provision in oil and gas working area.

According to Article 27 paragraph (2) GR No. 79/2010, other contractor’s revenue outside the Cooperation Contract generated from the transfer of participating interest shall be subject to final income tax at the rate of:

  1. 5% of gross amount for the transfer of participating interest during the exploration period or
  2. 7% of gross amount for the transfer of participating interest during the exploitation period.

According to Article 3 paragraph (1) of the Regulation of the Minister of Finance No. 257/2011, in order to share the risk during the exploration period, the transfer of Participating Interest is exempted from the imposition of Income Tax as referred to Article 2 paragraph (2) letter a, if it meets following criteria:

  1. The contractor does not transfer all participating interest owned;
  2. Participating Interest has been owned for more than 3 (three) years;
  3. The exploration has been conducted and the contractor has disbursed an investment to carry out the exploration activities; and
  4. The transfer of participating interest conducted by the contractor is not intended to make a profit.

The contractor is exempted from the income tax as long as it undertakes the transfer of participating interest obligation to the national company as stipulated in the cooperation contract.

Articles 34 and 35 of GR No. 35/2004 state that since the approval of POD-1 of working area, the contractor shall offer 10% participating interest to the Local-Owned Enterprise (LOE). The statement of interest and ability of the LOE shall be submitted within 60 days. If within 60 days the LOE does not provide a statement of interest and ability, then the 10% participating interest shall be offered to the national company. The deadline for the statement of the ability of national company is also 60 days, and if after 60 days the national company does not provide the statement then the offering is closed.

The oil and gas industry has 3 main characteristics, namely high cost, high tech and high risk. These characteristics make it difficult for national companies to compete and invest in the oil and gas sector. Hence, the regulation is needed to help their competitiveness.

List of PI transfer that took place in 2015 approved and reported by DG Oil and Gas is as follows :

No

Letter No.

Date

Working Area

Operator

Before PI Transfer

After PI Transfer

1 140/13/DJM.E/2015 6-Jan-15 Arguni I Eni Arguni I Limited Eni Arguni I Limited 100% Eni Arguni I Limited 80%
GDF Suez E&P Arguni I BV 20%
2 463/13/DJM.E/2015 12-Jan-15 Muara Bakau Eni Muara Bakau BV Eni Muara Bakau BV 55% Eni Muara Bakau BV 55%
GDF Suez Exploration Indonesia BV 45% GDF Suez Exploration Indonesia BV 33,334%
PT. Saka Energi Muara Bakau 11,666%
3 1013/13/DJM.E/2015 20-Jan-15 GMB Sijunjung PT Inti Gas Energi PT Inti Gas Energi 75% PT Inti Gas Energi 75%
PT Bukit Asam (Persero) Tbk 25% PT Bukit Asam Metana Ombilin 25%
4 1201/13/DJM.E/2015 26-Jan-15 West Madura Offshore PT Pertamina Hulu Energi WMO PT Pertamina Hulu Energi WMO 80% PT Pertamina Hulu Energi WMO 80%
PT Mandiri Madura Barat 20% PT Mandiri Madura Barat 10%
Kodeco Energy Co Ltd 10%
5 2894/13/DJM.E/2015 2-Mar-15 Cendrawasih Bay IV Repsol Exploracion Cendrawasih IV BV Niko Resources (Cendrawasih Bay IV) Limited 50% Repsol Exploracion Cendrawasih IV BV 100%
Repsol Exploracion Cendrawasih IV BV 50%
6 2889/13/DJM.E/2015 2-Mar-15 Cendrawasih Bay III Repsol Exploracion Cendrawasih III BV Niko Resources (Cendrawasih Bay III) Limited 50% Repsol Exploracion Cendrawasih III BV 100%
Repsol Exploracion Cendrawasih III BV 50%
7 3432/13/DJM.E/2015 12-Mar-15 Wailawi PT Benuo Taka Wailawi Perusda Benuo Taka 100% PT Benuo Taka Wailawi 1005
8 3873/13/DJM.E/2015 20-Mar-15 Mahato Texcal Mahato EP Ltd Texcal Mahato EP Ltd 51% Texcal Mahato EP Ltd 51%
Bukit Energy Central Sumatera (Mahato) Pte Ltd 37,5% Bukit Energy Central Sumatera (Mahato) Pte Ltd 25%
Central Sumatera Energy Mahato Ltd 11,5% Central Sumatera Energy Mahato Ltd 11,5%
Cue Mahato Pte Ltd 12,5%
9 3882/13/DJM.E/2015 20-Mar-15 Batanghari PT Gregory Gas Perkasa CNOOC Batanghari Ltd 87% PT Gregory Gas Perkasa 100%
PT Gregory Gas Perkasa 13%
10 4920/13/DJM.E/2015 14-Apr-15 East Jabung Talisman East Jabung BV Pan Orient Energy East Jabung Pte Ltd 100% Pan Orient Energy East Jabung Pte Ltd 49%
Talisman East Jabung BV 51%
11 6578/13/DJM.E/2015 22-May-15 South Mandar PTTEP South Mandar Limited PTTEP South Mandar Limited 34% PTTEP South Mandar Limited 50,7463%
Total E&P Indonesia South Mandar 33% Total E&P Indonesia South Mandar 49,2537%
Talisman South Mandar BV 33%
12 8116/13/DJM.E/2015 23-Jun-15 Tanjung Aru/Bala-Balakang KrisEnergy (Tanjung Aru) BV KrisEnergy (Tanjung Aru) BV 43% KrisEnergy (Tanjung Aru) BV 85%
Neon Energy (Indonesia) Pty Ltd 42% Natuna Ventures Pte Ltd 15%
Natuna Ventures Pte Ltd 15%
13 8717/13/DJM.E/2015 7-Jul-15 Cendrawasih Repsol Exploracion Cendrawasih I BV Black Gold Cendrawasih LLC 70% Repsol Exploracion Cendrawasih I BV 100%
Repsol Exploracion Cendrawasih I BV 30%
14 10456/13/DJM.E/2015 18-Aug-15 Nunukan PHE Nunukan Company PHE Nunukan Company 35% PHE Nunukan Company 64,5%
PT Medco E&P Nunukan 40% BPRL Ventures Indonesia BV 12,5%
BPRL Ventures Indonesia BV 12,5% Videocon Indonesia Nunukan Inc 23%
Videocon Indonesia Nunukan Inc 12,5%
15 10936/13/DJM.E/2015 28-Aug-15 North Sumatera Block B PT Pertamina Hulu Energia NSB ExxonMobil Oil Indonesia Inc 100% PT Pertamina Hulu Energia NSB 100%
16 10938/13/DJM.E/2015 28-Aug-15 North Sumatera Offshore PT Pertamina Hulu Energi NSO Mobil Exploration Indonesia Inc 100% PT Pertamina Hulu Energi NSO 100%
17 11367/13/DJM.E/2015 7-Sep-15 West Bangkanai PT Saka Energi Indonesia PT Saka Bangkanai Klemantan 99,9% PT Saka Indonesia Sesulu 0,1%
PT Saka Indonesia Sesulu 0,1% PT Saka Energi Indonesia 99,9%
18 11748/13/DJM.E/2015 15-Sep-15 North Madura AWE (North Madura) NZ Limited AWE (North Madura) NZ Limited 50% AWE (North Madura) NZ Limited 50%
North Madura Energy Limited 25% Azipac North Madura Limited 50%
Mitra Energy (Indonesia North Madura) Limited 25%

Applicable Licenses in Mineral and Coal Mining Sector

Mineral and coal mining license based on Law no. 4/2009 adopts a licensing system called Mining Business License (IUP) which can be classified by mining area permit:

  1. Mining Business License (IUP) is a license to conduct mining business activities in Mining Business License Area (WIUP), which is divided into:
    1. IUP-Exploration
    2. IUP-Production Operation
    3. People’s Mining License (IPR) is a license to conduct mining activities in People’s Mining Area (WPR) with limited area and investment.
    4. Special Mining Business License (IUPK) is a license to conduct mining activities in Special Mining Business License Area (WIUPK).

Authority to grant IUP for exploration and production based on Laws No. 4/2009 and No. 23/2014 is given to:

Licensor

IUP – Exploration IUP – Production Operation
  Mining Area

Mining Area and Impacted Area

Minister Located in more than one province Located and affecting more than one province

Foreign investor

Governor Located in several regencies/cities within one province

Located in one regency/city

Located and affecting several regencies/cities within one province

Located and affecting one regency/city

Meanwhile, the IPR is issued by the Governor and IUPK is issued by the Minister of Energy and Mineral Resources. IUPK is granted irrespective of the geographical location of the associated mining area. Provincial Government has authority to establish Mining Business License Area (WIUP) in the existing mining area in its territory, while cross-provincial mining areas as well as foreign investment become the central authority represented by the Ministry of EMR.

With the existence of the licensing system as described above, KK and PKP2B, which are the contract products of the previous Mineral and Coal Law, are still valid until the contracts / agreements expire. Similarly, KK and PKP2B signed before the enactment of GR No. 23/2010 (as the implementing regulation of Law No. 4/2009) are declared to remain in effect until the terms expire.

KK and PKP2B which have not obtained the first and/or second renewal can be extended to IUP without tender process (Article 112 GR No. 23/2010).