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"ABSTRAK1. BACKGROUNDIndonesia has been developing its economy for 30 years. In line with this effort, the Government of Indonesia has also been inviting private companies to participate for developing the economy. It is noted that most private companies got their fund from overseas finance institution either through course or non-recourse project financing. This fund usually had a short-term payment period but was used for long term investment projects. This practice, among other things, creates the need for huge amount of dollars to pay the short-term debt while in other side the revenue(s) is still not cultivated. Bad business practices has added on to put Indonesia in the currency crisis leading into situation in which the local companies loose their capabilities to pay back their debt to creditors on time. This inability to pay the debt has caused Indonesia loosing Investor& confidence on its economy. In facing the above situations Indonesian companies have looked for ways to pay back their debt and overcome the economy crisis. One of these ways is acquisition of the company assets. Through the acquisition the local shareholders will receive fresh funds and have their infrastructure project be completed on time. 2. PROBLEM FOCUSAs a trend in Indonesia currently, the oil pipeline infrastructure projects are designed with B&R (build and rent) contract schemes and requires a separate entity to handle this project. The pipeline is required by government to provide cheaper transportation alternative for distributing refined product to the people in Indonesia. Technology required is not complicated. Financing of the project has been done by using owners equity and complemented by loan from both local and overseas financial institution. However their equity apparently was obtained by borrowing from other lending company. Over debt has led local company to financial crisis. This, of course, reduces the value of Company. Reassessment of company is required to know the current value of their company. The economy crisis also affects refined oil supply and demand structure leading to project economic. 3. ANALYSISA comprehensive analysis on the local company shows its strength, weakness,opportunity, threatens of the company, what aspect will be affected by acquisition process and what gain local shareholder will achieve. Then Local Company is expected to be able to negotiate intelligently with the potential investor from overseas by using the paper recommendation. 4. CONCLUSION AND RECOMMENDATIONThe country risk of Indonesia is so high that investment require higher rate of return on their investment. Fortunately, East Kalimantan has abundant natura1 resources so that its economy growth and refined product consumption rates are original design of pipeline facility, is excessive and requires some modification to reduce its cost and optimise its design. By using the same rate for both debt interest rate and discounted cash flow rate, then higher rates will reduce company value. Due to current economic situation Investor will face some risk such as political risk, financial risk, contract risk which will raise the investor rate hurdle rate. This also gives an opportunity to Investor to negotiate with Pertamina to optimise its design so that there might be any cost saving for both parties.The project characteristic is fixed revenues so that Investor should reduce its project expenses to achieve higher rate of return. Reducing construction completion time, Capital Expenditure (CAPEX), design change, and higher percentage ofdebt at operating life, etc. could do this. During negotiation with potential investor it may be difficult to sell company with the same price as company value since this will lower.the investor?s estimated rate of return. The risks such as political, financial, contract risks should be discussed with Pertamina in the presence of local owner to smooth the negotiation and proper risk management strategies should be applied. "

"Salah satu lapangan minyak dan gas yang dioperasikan oleh perusahaan di Indonesia telah berproduksi lebih dari 40 tahun dan mengalami 384 kebocoran pada 94 pipa penyalur di lapangan tersebut. Sebelumnya, perusahaan telah melakukan Risk Based Inspection (RBI) dengan metode semi-kuantitatif untuk memitigasi hal tersebut. Namun karena banyaknya pipa berisiko tinggi dan hasil dari metode tersebut tidak memiliki hasil dalam bentuk angka, perusahaan tidak dapat menentukan skala prioritas untuk membuat strategi mitigasi. Dalam penelitian ini dilakukan penilaian risiko kuantitatif dengan metode distribusi Weibull yang dimodifikasi untuk menghasilkan risiko dengan angka finansial agar risiko bisa diurutkan. Mitigasi yang diajukan adalah dengan perbaikan pipa dan meningkatkan efektivitas inspeksi untuk menurunkan nilai POF. Dalam penentuan strategi mitigasi risiko, didapatkan evaluasi risiko menggunakan plot risiko dengan garis iso-risk lebih efektif dibandingkan dengan matriks karena hanya terdapat 133 segmen yang perlu dimitigasi, hanya membutuhkan 201 kegiatan mitigasi risiko, ranking risiko yang konsisten sesuai prioritas serta hasil risiko sisa yang semuanya dibawah batas toleransi risiko. Penelitian ini juga melihat bagaimana pengaruh harga minyak terhadap hasil risiko dan mitigasi yang diperlukan dan dapat disimpulkan bahwa metode ini dapat diterapkan sebagai solusi untuk manajemen risiko pada lapangan minyak dan gas tua.

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One of oil and gas field operated by a company in Indonesia has been producing hydrocarbon for more than 40 years and facing 348 leak incidents at 94 pipelines operated in the field. Previously, the field operator had conducted a semi-quantitative Risk Based Inspection (RBI) method to mitigate the problems. Since there are many high-risk pipeline segments and the result from the method are unclear to describe the risk priority, the company was unable to make the priority rank for proper mitigation strategy. In this research, quantitative risk assessment method using modified Weibull distribution is used to obtain financial value risk for proper ranking. The mitigation action proposed are segment repair and increasing inspection effectiveness to reduce POF value. To determine the risk mitigation strategy, the evaluation using risk plot with iso-risk line is more effective compared to the risk matrix because there are only 133 segments need to be mitigated, only 201 mitigation actions required, more consistent rank for the risk priority and all residual risk is below the company tolerable risk. In addition, this research also analyzes the implication of oil price change to the risk result also the mitigation action required and it is concluded that this method can be implemented in the company risk management as robust solution for mature oil and gas field pipeline."

"Perencanaan Pajak Penghasilan Badan atas Akuisisi Blok Migas di Luar Negeri oleh National Oil Company (NOC) di Indonesia guna memenuhi kebutuhan akan energi nasional dengan memperhatikan pertimbangan perpajakan. Penelitian ini bertujuan untuk menganalisis proses perencanaan pajak yang dilakukan oleh National Oil Company (NOC) Indonesia sesuai dengan kriteria perencanaan pajak yang baik. Skripsi ini menggunakan pendekatan kualitatif dengan teknik pengumpulan data melalui wawancara mendalam dan studi kepustakaan. Hasil penelitian menunjukan bahwa perencanaan pajak yang dilakukan oleh National Oil Company (NOC) Indonesia telah memenuhi kriteria perencanaan pajak yang baik sesuai dengan teori perencanaan pajak, yaitu tidak melanggar peraturan, memiliki alasan bisnis, dan didukung oleh bukti-bukti.

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Corporate Income Tax Planning Over Acquistion Oil and Gas Block in Other Country by National Oil Company Indonesia in order to meet national energy needs by taking into tax consideration. This study aims to analyzing the corporate income tax planning. This thesis uses a qualitaive approach to data collection techniques through in-depth interview and literature studies. The result showed that tax planning undertaken by the Indonesian National Oil Company (NOC) is in conformity with the criteria of good tax planning in accordance with the theory of tax planning, which is not against the rules, have business reasons, and supported by evidences."

"Skripsi ini membahas Ketahanan migas dalam perspektif kebijakan energi dan strategi NOC periode 1970-2010 melalui studi perbandingan Indonesia dan Malaysia. Penelitian ini adalah penelitian eksplanatif yang menggunakan metode kualitatif. Dengan menggunakan teori developmental state, konsep ketahanan energi (energy security), konsep desentralisasi, dan konsep paradigma kebijakan energi, hasil analisis dari penelitian ini menunjukkan bahwa ketahanan migas di Malaysia lebih baik dibandingkan Indonesia.Hasil tersebut didasarkan atas kebijakan energi Malaysia yang mampu merespon dengan baik faktor karakteristik cadangan migas, karakteristik supply-demand migas, relasi pemerintah pusat dan daerah dalam pengelolaan sumber migas, dan relasi NOC dengan Pemerintah yang berperan terhadap ketahanan migas nasional. Selain itu, Petronas lebih unggul dalam jumlah kepemilikian cadangan migas baik di dalam negeri maupun luar negeri yang terlihat dari tingkat produksi migas yang mencapai dua juta barel setara minyak setiap hari. Keunggulan dari kebijakan energi dan strategi NOC Malaysia tidak terlepas dari perencanaan kebijakan energi yang lebih terkoordinasi, paradigma kebijakan energi supply demand dengan pendekatan demand side management yang mengkonstruksi kebijakan energi berdasarkan kondisi cadangan migas, dan model relasi pembagian tanggung jawab antara Petronas dengan Pemerintah Malaysia.

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This thesis discusses oil and gas security in perspective of energy policy and NOC?s strategies period 1970-2010 through comparative study in Indonesia and Malaysia. this is an explanative research using a qualitative method. In this research, the writer used the developmental state theory, the concept of energy security, decentralization concept, and the paradigm of energy policy concept, where the result of the analysis showed that oil and gas security in Malaysia is better compared to Indonesia.That result is based on Malaysia?s energy security policy that responds better to the following factors: characteristics of oil and gas reserves, characteristics of oil and gas supply-demand, the relationaship between central government and regional government, and the relationship between NOC and the government that contributed to national oil and gas security. Beside that, Petronas is superior in oil and gas ownership, both within and outside country. This is proven by their oil and gas production, which reaches two million boepd (barrel oil equivalent per day). The superior of Malaysia?s energy policy and NOC strategies cannot be separated from their more coordinated energy policy planning, a supply-demand energy policy paradigm using a demand side management approach that construct energy policy based on the condition of oil and gas reserves, and a relationship of shared responsibilities between Petronas and the Malaysian Government."

"Leak detection is always interesting research topic,where leak location and leak rate are two pipeline leaking parameters that should be detewrmined...."

"Penggunaan pengadaan elektronik (e-Procurement) di dunia bisnis telah meningkat secara dramatis dalam dekade terakhir ini dengan makin banyaknya- perusahaan yang menggunakan teknologi Internet untuk pengadaan berbagai variasi barang dan jasa. Menjadi yang pertama atau setidaknya menjadi pendahulu dalam penggunaan e-Procurement telah menjadi langkah inti stratejik, untuk memastikan bahwa organisasi tidak akan tertinggal dalam kompetisi yang ada. Sejalan dengan pertumbuhan bisnis, banyak alat e-Procurement telah dikembangkan pada tahun-tahun terakhir ini untuk membantu organisasi mencari, membuat kontrak, dan membeli secara lebih efisien dan efektif. Salah satu alat yang sering digunakan di organisasi adalah electronic Reverse Auction dimana pemasok-pemasok potensial berkompetisi secara online dan pada 'waktu yang sebenarnya, menyediakan harga untuk barang atau jasa dalam sebuah lelang. Harga mulai pads tingkatan tertentu dan secara bertahap, sepanjang lelang tesebut, menurun seiring denga adanya perbaikan penawaran untuk mendapatkan kontrak yang ada. Metode electronic reverse auction telah terbukti menghasilkan penghematan di sisi finansiai dan efisiensi proses.Banyak perusahaan di Indonesia, agar dapat bersaing secara global, telah mengaplikasikan e-Reverse Auction. Perusahaan-perusahaan ini sebagian besar mengaplikasikannya sejalan dengan strategi yang dimiliki oleh perusahaan induknya di luar negeri. Namun, masalah yang ada adalah apakah pemasok-pemasok di Indonesia telah siap untuk mendukung dan berpartisipasi dalam e-Reverse Auction untuk mendapatkan keuntungan maksimal dari metode Untuk menjawab pertanyaan ini, fokus diarahkan pada studi kasus dari aplikasi e-Reverse Auction di salah satu perusahaan multinasional minyak dan gas burni di Indonesia, XYZ Indonesia Inc. (XYZI). Analisa dilakukan terhadap tiap dimensi dari model empirikal hubungan pembeli-pemasok. Dimensi-dimensi tersebut adalah kepercayaan, kepuasan, adaptasilinvestasi transaksi spesifik, kekuatan/ketergantungan, komunikasi, komitmen, dan kerja sama.XYZ telah membuat perjanjian dengan satu dari pembuat pasar terdepat untuk e-Procuremennt, Ariba, untuk menyediakan dukungan terhadap e-Reverse Auction kepada seluruh anak perusahaan -XYZ secara global. Di Indonesia, XYZI telah mengaplikasikan e-Reverse Auction sejak kuartal keempat 2004 dan menyelesaikan lima lelang menggunakan e-RA. Penghematan total yang didapat adalah sebesar US$ 785,984.49 dan dinyatakan sebagai kesuksesan terhadap pengaplikasiannya. Namun, jumlah tersebut pada kenyataannya adalah jumlah kotor karena terdapat beberapa kehilangan selama proses. Kehilangan yang diidentifikasi sebagian besar berasal dari waktu pengerjaan dan investasi yang dibuat oleh pembeli XYZ dan pemasok.Setelah menganalisa ketujuh dimensi dari hubungan pembeli-pemasok, kepercayaan dan komitmen merupakan dimensi-dimensi terkuat. Fokus sebaiknya dibuat lebih untuk adaptasil investasi transaksi spesifik, kekuatand ketergantungan, komunikasi, dan kerja sama untuk mendapatkan keuntungan maksimal dari penggunaan e-Reverse Auction baik kepada pembeli maupun pemasok. Dimensi terakhir, kepuasan, lebih ditekankan pada pihak lain, Ariba, sebagai penyedia pembuat pasar.Terakhir, beberapa strategi telah diajukan untuk mengembangkan e-Reverse Auction di XYZI. Strategi-strategi tersebut menyarankan untuk membuat perkenalan dan pendidikan terus menerus untuk e-Reverse Auction kepada semua pemasok-pemasok potensial XYZI, komitmen jangka panjang dengan pemasok sebagai basil lelang e-Reverse Auction, mempercepat waktu proses e-Reverse Auction, dan mendapatkan bantuan yang Iebih baik dari Ariba di Indonesia.

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The use of electronic procurement (e-Procurement) in business has increased dramatically over this decade with more and more companies utilizing internet technology to procure a wide variety of goods and services. Being first or at least being early into the use of e-Procurement was considered a key strategic move, ensuring that the organization was not left behind the competition. In line with the nature growth of business, many e-Procurement tools have been developed over recent years to help organizations source, contract, and purchase more efficiently and effectively. One of the tools that commonly used in the organizations is electronic Reverse Auction (e-Reverse Auction) where potential suppliers are competing online and in 'real time', providing prices for the goods or services under an auction. Prices start at certain level and gradually, throughout the course of the auction, decline as suppliers offer improved terms in order to obtain the contract. This method of electronic reverse auction has been proven by many companies to provide savings in term of money and process efficiency.

Many companies in Indonesia, to be able to compete globally, have been implemented the e-Reverse Auction. These companies, mostly implemented it as an allignment to the strategy of its foreign parent company. However, the highlighted problem is whether the nature of suppliers in Indonesia is ready to support and participate in the e-Reverse Auction in order to obtain the most advantages of this method. To address this question, focus has been made to a case study of e-Reverse Auction implementation in one of the oil and gas multinational companies in Indonesia, XYZ Indonesia Inc. (XYZI). The analysis is made to each dimensions of empirical model of buyer supplier relationship. The dimensions are trust, satisfaction, adaptation) transaction specific investment, power/dependence, communication, commitment, and co-operation.

XYZI is an -Indonesian subsidiary of XYZ with location based in Houston. XYZ has came up with an agreement with one of the leading market makers for e-Procurement, Ariba, to provide support in e-Reverse Auction to all XYZ subsidiaries globally. In Indonesia, XYZI has implemented e-Reverse Auction since fourth quarter 2004 -and completed five tenders using e-RA as a result. A total savings of USS 785,984.49 has been claimed as a success to the implementation_ However, this claimed number is actually a - gross number due to several losses occured during the process. The losses identified are mostly in terms of time of process and investments made_ to both XYZI buyers and suppliers.

Having analyzed the seven dimensions of buyer-supplier relationship, trust and commitment have been considered the strongest dimensions. Focus should be made more in adaptation/ transaction specific investment, power/ depence, communication, and co-operation in order to gain the most advantage of e-Reverse Auction to both buyer and suppliers. The last dimension, satisfaction, is giving more attention to the other party, Ariba, as the market maker provider.

In the end, several strategies have been proposed to develop implementation of e-Reverse Auction in XYZI. The strategies are suggesting a continuous introduction and education of e-Reverse Auction to all future XYZI's suppliers, a long term commitment with supplier as a result of e-Reverse Auction tenders, speed up the timing of e-Reverse Auction process, and obtain a thorough assistance from Ariba in Indonesia."

"Proyek inspeksi teknis dan sertifikasi pada Perusahaan Jasa Inspeksi Teknik memerlukan manajemen biaya proyek yang efektif. Pelaksanaan proyek, aktualnya sering terjadi cost variance. Penelitian ini berfokus pada analisis project cost variance (CV) antara biaya yang dianggarkan dengan biaya aktual proyek. Metode PMBOK digunakan untuk menghitung nilai CV setiap biaya dan mengetahui pada biaya mana CV sering terjadi. Nilai CV digunakan dalam menentukan nilai cost performance index untuk mengetahui performa biaya underrun (dibawah anggaran) dan overrun (melebihi anggaran) sehingga diperoleh %CV untuk kedua kondisi tersebut. Dengan penelitian ini dianalisis proses cost estimating, cost budgeting, dan cost control yang dapat diimplementasikan oleh PJIT.

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Effective project cost management needed by technical inspection and certification project in Technical Inspection and Certification Companies. In actual, cost variance occured in perform of the project. This research is focus to project cost variance (CV) analysis between budgeted cost with actual project cost. PMBOK method is used to calculate CV value of each cost to identify in which cost the CV occurred. CV value is used to calculate cost performance index value to get cost performance that underrun and overrun, and get the %CV value. This research analyzed the cost estimating, cost budgeting, and cost control processes that can be implemented in PJIT."

"Strategic Management has been widely discussed in the context of competitive advantage building a fundamental need by firms for competition Competitive advantage of a firm may be reached by implementing distinguished strategies where its resources and capabilities are leveraged to overcome extemal environment forces. Strategic decision works at the operational level of strategy implementation. Strategic decision is getting more relevant for an industry risking massive capital and requiring high technology in environment uncertainties like oil and gas industry.This research has surveyed upstream oil and gas business segment of PT Medcol-Energi International Tbk to study the roles of ?strategic decision? thru ?asset portfolio management", ?operational success?, and ?financial risk management? tasks that have influences to its company?s performances. MedcoEnergi is a holding company which has several entities in its portfolio. Underneath the parent's company consists of business units and assets portfolio. Strategic decision consequently should occupy either at corporate level or at business level. Organizational structure, executive paradigms, functional perspective integration dimensions should have shaped the strategic decisions.This study addresses three main questions. First, do the strategic decision roles effects on company?s perfonnances thru asset portfolio management. Second, do the strategic decision roles effects on company?s performances thru operational success. Third, do strategic decision roles effects on oompany's performances thru financial risk management. In making strategic decision "organizational structure", "executive paradigm", and "functional perspective" dimensions are measured.A survey was conducted in MedcoEnergi group companies to measure the roles of strategic decision in achieving its performances through asset portfolio management, operational success, and inancial risk management. Questionnaires were distributed along to samples under criteria reaching 55 respondents across the organizational structures, job positions, and job unit so the profiles has represented strategic decision makers and supporter around the group that focused on up stream oil and gas industry.The results indicate that strategic decision has not been accordingly practiced to support asset portfolio management but slightly support operational success and financial risk management which remarked by insignificant relationship among the variables. As conclusion, the performance within the time name surveyed of MedocEnergi generated from its up stream oil and gas exploration and development business segment not appeared to reach its optimality.This study should make important contributions which would promote the importance of further research of strategic decision roles in the up stream oil and gas industry as a whole. The Endings here offer to practice strategic decision in tackling strategic issues such as to manage portfolio of assets (proved reserves), to manage operational success more sharply, to manage financial risk more expanded to capability of the companies to reduce risks. By having those issues considered through strategic decision, the company's? performances would be expected higher than current level."