Economic Study of Matrix Acidizing Stimulation and New Zone Behind Pipe (NZBP) At Abraw Field Using Cost Recovery Psc and Gross Split PSC Fiscal Term

Abstrak

Workover is a way to increase production at ABRAW field. There are two methods that have been done, including matrix acidizing stimulation and NZBP as solution to increase production at ABRAW field. The analysis is carried out through economic study using cost recovery PSC and gross split PSC fiscal term analyze matrix acidizing stimulation and NZBP with profit indicators. There are net present value (NPV), rate of return (ROR), and pay out time (POT). Spider diagram is created to determine the sensitivity analysis of the economic, which is aimed to find out the interest results for contractor. The economic calculation after matrix acidizing stimulation jobs for cost recovery PSC earned NPV US$7,701,030. ROR is 328.3%, and POT is 0.29 years. Then, matrix acidizing stimulation jobs for gross split PSC earned NPV US$20,565,110. ROR 894.9%, and POT 0.11 years. For NZBP jobs after calculated cost recovery PSC earned NPV US$3,009,210. ROR is 77.4 %, and POT is 1.33 years. Then, NZBP jobs for gross split PSC earned NPV US$6,086,900, ROR 153.4%, and POT is 0.596 years. According to the economic calculation result, it can be conclude that matrix acidizing stimulation and NZBP with gross split PSC is giving an interest result for contractor. It is evidenced by higher value of NPV in matrix acidizing stimulation and NZBP. Also, POT for gross split PSC is better than cost recovery PSC. There are additional factor, affected two schemes fiscal term, are oil price and OPEX. These factor show that gross split PSC is giving a better profit than cost recovery PSC and also give an interest result for contractor. This proves that gross split PSC better than cost recovery PSC.