Dear Colleagues,
Indonesian Association of
Geologists (IAGI) has arranged a workshop entitled:
THE INDONESIAN PETROLEUM INDUSTRY :
ECONOMIC ISSUES AND CHALLENGES
by
Dr. H.L. ONG
(BPMIGAS & Bandung Institute of Technology)
The workshop will be held on:
Day/ Date :
Wednesday & Thursday, 5th - 6th September 2012
Venue :
Conrad Hotel, Jalan Pratama 168, Tanjung Benoa, Bali
About The Workshop:
This 2-day workshop is designed as a seminar-type for those who want to know
“more” about the Indonesian Petroleum Industry from the economic point of view
and to gain competitive advantage in the industry. This point of view cannot be
separated from the Global Oil Industry in general. Recently, the revolution in
geology regarding the concept of tight oil and especially unconventional gas
will have a significant influence worldwide on the energy commodity pricing.
The evolution of the International Petroleum Fiscal System will be discussed.
The discussion will start from the development of the Indonesian First
Production Sharing Contract in 1966 when the “Cost Recovery Limit or CRL” was
first applied. The CRL was abandoned in 1976 and the “First Tranche Petroleum
or FTP” was introduced in 1988. In fact, since the FTP is more like a royalty,
the Indonesian PSC since 1976 should be considered as a concessionary system.
The increasing subsidy of BBM has affected the Indonesian oil industry through
the Domestic Market Obligation or DMO. This indirectly is related to the
Indonesian oil and gas reserve, its production, and the Indonesian Peak Oil
debate. The problem of subsidy eventually evolves into regulatory changes,
which has indirectly affected the PSC operators. This is especially true with
the recent gas pricing policy in Java. It is therefore necessary for the
Indonesian Oil companies to understand the impact of subsidy on the Indonesian
economy and to appreciate the policies being taken by the Government to prevent
unnecessary frustration.
Finally, is it still worth to consider investing in Indonesia? Where and what
to invest considering the geological potential of the country?
Who should attend:
The workshop will certainly be of benefit to anyone who needs to have an
overall knowledge and understanding of the business side of the Indonesian
Petroleum industry. It will help your company avoid some of the frustrations
and unnecessary delays that are inherent within the industry. It is expected
that some Government officials will be taking the workshop and there should be
some networking and interaction among the participants. Those recommended to
attend include:
• Explorationists and Petroleum Engineers.
• Project Managers and Supervisors.
• New Ventures and Financial Managers.
• Commercial and Business Development Managers.
• Service companies and Financial institutions.
• Government officials and regulators.
Some of the pertinent issues to be discussed:
• Global economic outlook of the petroleum industry.
• The role of Oil and Gas in the Indonesian economy.
• The effect of Government subsidy on the Oil companies.
• Oil and Gas Reserves, Production, and Replacement.
• Economic aspects of the Indonesian PSC system.
• Plan of Development, PSC Extension, and New investment (e.g.
EOR).
• The economics of CBM and shale gas.
• The Indonesian Petroleum Industry concern.
• LNG imports and the new gas pricing policy.
• Input from the participants for the improvement of the
regulations.
• Where to invest?
Instructor:
After receiving his doctorate from Colorado School of Mines, Dr. Ong returned
to Indonesia where he taught at his Alma Mater, Institut Teknologi Bandung,
until today. He was instrumental in setting up P.T.Geoservices, a service
company devoted to Mineral Resources in 1971, and became the Principle Advisor
of the company until his semi-retirement in 2002. Since then Dr. Ong has run
numerous school dealing with the economics of petroleum and minerals for
various companies. He has been teaching a 5-day workshop on investment
appraisal for the IPA on a continuous basis for the past 12 years. In 2008, he
joined BPMIGAS as an advisor to the CEO.
The workshop is unique in that it is presented by a person with extensive
teaching experience as well as running his own successful company for more than
30 years. As a result the speaker has the capability to explain the business
principles involved with many lively and topical examples throughout the
workshop.
For more information please contact Hari Utomo: [email protected]
<http://us.mc1947.mail.yahoo.com/mc/[email protected]>
or phone: +628156200197.
Please visit: http://www.farmoutforum.com/download/Rundown.pdf
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PP-IAGI 2011-2014:
Ketua Umum: Rovicky Dwi Putrohari, rovicky[at]gmail.com
Sekjen: Senoaji, ajiseno[at]ymail.com
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Jangan lupa PIT IAGI 2012 di Jogjakarta tanggal 17-20 September 2012.
Kirim abstrak ke email: pit.iagi.2012[at]gmail.com. Batas akhir pengiriman
abstrak 28 Februari 2012.
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Pembayaran iuran anggota ditujukan ke:
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No. Rek: 123 0085005314
Atas nama: Ikatan Ahli Geologi Indonesia (IAGI)
Bank BCA KCP. Manara Mulia
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