Revenue to Cost Ratio of Oil and Gas Upstream Sector 4 Letter 1

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Revenue to Cost Ratio of Oil and Gas Upstream Sector 4 Letter 1

Monday, 22 February 2010 09:55

JAKARTA. Cost recovery is the return on operating costs (operating cost) incurred by the contractor from the sale of producing oil and natural gas with the composition of capital, non-capital and unrecovered cost. The increasing cost recovery revenues.

according to the head of BP Migas, R. Priyono, in the last five years, revenue to cost ratio of upstream oil and gas sector reached 4 to 1, which means that every U.S. $ 1 is paid as a cost recovery generate revenue of U.S. $ 4 in which at least 67% of government revenue diataranya be.

"Increasing cost recovery revenues it produces a far greater", said Head of BP Migas.

Control and monitoring cost recovery mechanism is carried out through pre-audit (before the activity carried out) at the time of filing Recana Field Development (POD). Work Plan and Annual Budget (WP & B). Ototrisasi Expenditure (AFE) and Procurement of goods and services, current audit and post audit (with BPKP KESDM and CPC). (SF)(ESDM)

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