VALUASI INVESTASI PROJEK PENGEMBANGAN LAPANGAN MIGAS XYZ Studi Kasus pada PT Pertamina (Persero)
| Main Authors: | , Sri Haslinda, , Dr. Erni Ekawati, M.B.A |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2012
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/98348/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=53495 |
Daftar Isi:
- PT Pertamina (Persero) is a national oil and gas company. In order to elevate oil and gas reserve discovery using sharing risk and reward concept, Pertamina cooperate with some south east asian countries (PC/Malaysia and PV/Vietnam) as known as Tripartie Cooperation. Blok XYZ is Field under Tripartie cooperation in Indonesia. To decide whether a proposed POD (Plan of Development) of field XYZ feasible or not for approval, Pertamina must conduct a detailed review and valuation calculations using the field's commerciality some parameters of the feasibility of investments such Contractor Net Cash Flow (NCF), Net Present Value (NPV), Internal Rate of Return (IRR), Pay Out Of Time (POT) and Profitability Index (PI) and sensitivity analysis to see the effect of oil price, capital expenditure and operational expenditure on the new plan of oil field development. Investment in XYZ Block is a very attractive. This can be seen from the calculation of NPV, IRR, and PI POT. With the discount rate of 11.73% it produces a positive NPV and IRR greater than the discount rate, with a long payback time for 8 years and the profitability index greater than 1, provide conclusion that development of XYZ oil field investment is feasible to execute. Sensitivity analysis has been done stating that the most sensitive variables influencing changes in the value of NPV and IRR Pertamina is the oil price, followed by operational expense and capital expenditure. Being the most sensitive variable affecting the changes in the value of NPV and IRR Partners are operational expense, oil prices and capital expenditure. With the change in one variable and other variables fixed will lead to changes in the NPV and IRR. During the change each of variables still yield a positive NPV and IRR greater than the discount rate the investment is feasible to execute and otherwise if changes in each variable produces a negative NPV and IRR less than the discount rate, the investment is not feasible to execute