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"Optimisasi dibutuhkan dalam kegiatan hulu migas untuk menekan cost recovery. Saat ini terminal hulu migas di Indonesia mempunyai total 65 unit atau 2 (dua) hingga 3 (tiga) buah kapal tunda di tiap terminal melalui sistem sewa / kontrak untuk menunjang kegiatan lifting migas dengan biaya mencapai US$ 52.8 juta per tahun. Penelitian dilakukan dengan mengelompokkan seluruh terminal hulu migas menjadi beberapa cluster. Dari data lokasi terminal di tiap cluster, jumlah kebutuhan kapal tunda di tiap terminal dan jadwal lifting akan didapatkan jumlah kebutuhan kapal tunda yang optimum untuk dijadikan fasilitas bersama. Metode optimisasi dilakukan dengan menggunakan Algoritma Differential Evolution. Metode ini dipilih karena sudah teruji dapat menyelesaikan permasalahan kombinatorial yang rumit dan waktu penyelesaian yang cepat. Dengan optimisasi dimaksud, terminal digolongkan menjadi 15 cluster dengan total kebutuhan kapal tunda menjadi 55 unit (berkurang 15%) dan penghematan yang bisa dilakukan mencapai US$ 16.8 juta per tahun dari kondisi eksisting.

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Optimization is needed in upstream oil and gas business to reduce. To support oil and gas lifting activity, nowadays upstream oil and gas terminal have totally 65 units or 2 (two) to 3 (three) tugboats in each terminal with contract system and reaches US$ 52.8 million per year cost expense. Research is done by classifying all of upstream oil and gas terminals into few clusters. From data of terminal coordinates in each cluster, requirement of tugboat and lifting schedule, we can get the amount of tugboat that can be used as sharing facility.

Optimization method is using Differential Evolution Algorithm. This method is chosen due to have been capable to solve the complicated-combinatorial problem and fast time completion. By using this optimization method, oil and gas terminal will be grouped into 15 clusters with totally have 55 units of tugboat (15% decreasing) and saving approximately US$ 16,8 million per year cost from existing situation."

"Pelaksanaan operasi industri hulu minyak dan gas bumi di Indonesia dilakukan dengan mekanisme kontrak bagi hasil atau Production Sharing Contract PSC , dimana untuk aspek komersial minyak bumi, lifting entitlement Negara dapat dilakukan secara elect to take inkind atau elect not to take inkind. Analisis optimasi revenue komersialisasi dan lifting minyak bumi menggunakan metode program linear, dan untuk pengolahan data dilakukan dengan simulasi pada perangkat lunak POM-QM untuk windows versi 3. Selanjutnya dilakukan analisis sensitivitas jumlah lifting, entitlement dan mekanisme Komersialisasi terhadap revenue. Data pengujian menunjukkan bahwa perubahan volume lifting untuk mekanisme elect not to take inkind lifting menghasilkan total revenue yang lebih tingi dibandingkan dengan mekanisme elect to take inkind lifting, hal ini disebabkan terdapat nilai premium penjualan pada kontrak komersial.

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The upstream oil and gas industries in Indonesia is operated under the term of Production Sharing Contracts PSC , which for the commercial aspects, Government entitlement shall be conducted elect to take inkind or elect not to take inkind. Analysis of revenue optimization on commercialization of crude oil lifting using linear programming methods, and the data simulation and process is using POM QM V.3 for windows software. It also conducted a sensitivity analysis of the components of the lifting revenue, entitlement and the commercialization mechanism. The sensitivity of lifting volume to total revenue on elect not to take inkind lifting mechanism resulted in higher than total revenue than elect to take inkind lifting mechanism. This is due to the value of premium sales on commercial contracts."

"Kegiatan produksi minyak dan gas di lepas pantai tidak dapat dilaksanakan tanpa peran vital dari armada kapal pemasok lepas pantai (Offshore Supply Vessels) sebagai penggerak kegiatan logistik. Operasi armada kapal ini merupakan salah satu komponen biaya terbesar dalam kegiatan produksi minyak dan gas lepas pantai, setiap usaha untuk meminimalisasi biaya operasi armada akan memberikan dampak yang signifikan terhadap total biaya operasional perusahaan. Dalam tesis ini dilakukan proses optimasi terhadap armada kapal pemasok lepas pantai perusahaan CNOOC SES. Metode yang digunakan adalah integer programming dengan terlebih dahulu memformulasikan model matematis dari operasi armada kapal. Nilai variabel-variabel keputusan dari model matematis armada diperoleh dengan bantuan perangkat lunak optimasi Lingo 8.0. Proses optimasi menghasilkan pengurangan biaya operasi harian sebesar 3.12% atau setara dengan US$ 3.495.

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The production of offshore oil and gas are impossible without the vital role of offshore supply vessel fleet as an enabler factor of its logistic operation. This fleet operation is one of the biggest cost components in offshore oil and gas production. Any attempt to reduce this cost will have significant impact to the total operation cost.

This thesis will optimize CNOOC SES offshore supply vessel fleet operation. A fleet mathematical model is formulated prior to using the integer programming as the methodology. The decision variables values of the fleet mathematical model are computed by Lingo 8.0 optimization software. From the optimization process, the daily total operation cost is reduced up to 3.12% or equal to US$ 3.495."

"Penelitian ini bertujuan untuk: 1) menganalisis potret substansi pengaturan (regulatory substance) dan tata kelola pengaturan (regulatory governance) kegiatan usaha hulu minyak dan gas bumi di Indonesia; 2) merekonstruksi konsep akuntabilitas formal dalam tata kelola pengaturan kegiatan usaha hulu minyak dan gas bumi di Indonesia; 3) merekonstruksi konsep akuntabilitas informal dalam tata kelola pengaturan kegiatan usaha hulu minyak dan gas bumi di Indonesia; dan 4) mengkonstruksi model institusional untuk memperbaiki akuntabilitas formal dan akuntabilitas informal dalam tata kelola pengaturan kegiatan usaha hulu minyak dan gas bumi di Indonesia.Hasil analisis menunjukkan bahwa situasi problematikal dalam tata kelola pengaturan minyak dan gas bumi di Indonesia bersumber dari tataran kebijakan pengaturan UU 22/2001 yang mencakup proses dan substansi kebijakannya, serta tataran peraturan operasional yang mencakup proses penyusunan dan pelaksanaannya. Sebagai hasil rekonstruksi, akuntabilitas formal dikonsepsikan sebagai aspek formal regulasi yaitu aspek yang terkait dengan disain institusional yang merupakan fungsi dari konteks kebijakan dan aturan formal yang berlandaskan pada konstitusi, yang meliputi kesesuaian kebijakan pengaturan dengan konstitusi; kejelasan peran dan tujuan; otoritas; dan akuntabilitas. Adapun akuntabilitas informal dikonsepsikan sebagai aspek pembuatan dan pelaksanaan peraturan formal yang melibatkan pemangku kepentingan yang luas, yang meliputi partisipasi; transparansi; prediktabilitas; dan konsistensi.Tata kelola pengaturan kegiatan usaha hulu minyak dan gas bumi di Indonesia dapat diperbaiki dengan model tata kelola pengaturan antar institusi (inter-institutional regulatory governance), yang terdiri dari model akuntabilitas formal antar institusi (inter-institutional formal accountability) dan model akuntabilitas informal antar institusi (inter-institutional informal accountability). Adapun model institusional yang dikonstruksi untuk menopang tata kelola antar institusi dalam rangka memperbaiki tata kelola minyak dan gas bumi di Indonesia adalah model institusional tiga tingkatan fungsional dan tiga tingkatan struktural."

"Putusan Mahkamah Konstitusi atas uji materi UU Nomor 22 Tahun 2001 berimplikasi pada adanya tafsir konstitusional pengelolaan hulu minyak dan gas bumi di Indonesia yakni pada pelaksanaan konsep kepenguasaan negara dan sebesar-besarnya kemakmuran rakyat. Penelitian ini bertujuan untuk menganalisis realitas dan implikasi pelaksanaan sistem fiskal dan kelembagaan pengelola hulu minyak dan gas bumi yang sesuai dengan amanat konstitusi. Penelitian ini menggabungkan metode kualitatif dan kuantitatif. Penggunaan metode kualitatif dilakukan untuk melihat bagaimana realitas pelaksanaan sistem fiskal dan kelembagaan pengelola terhadap penerimaan negara dengan teknik analisis deskriptif. Sementara penggunaan metode kuantitatif terbatas untuk membandingkan bagaimana komposisi penerimaan negara dan kontraktor atas penerapan sistem kontrak bagi hasil gross split dan cost recovery dengan teknik analisis regresi berganda. Penelitian ini menyimpulkan bahwa sistem kontrak bagi hasil KBH adalah sistem fiskal yang mampu menerjemahkan konsep kepenguasaan negara dan sebesar-besarnya kemakmuran rakyat sebagaimana amanat konstitusi. Dalam pelaksanaan sistem KBH Cost Recovery, pemerintah rata-rata mendapatkan komposisi 55,96 persen dari total penerimaan minyak dan gas bumi. Pada tahun 2016, komposisi penerimaan pemerintah adalah sebesar 38,41 persen. Berdasarkan analisis data historis dan proyeksi minyak bumi, komposisi penerimaan pemerintah dan kontraktor tidak berbeda jauh jika menggunakan sistem KBH gross split dimana rentang penerimaan pemerintah adalah 41 - 42 persen sementara kontraktor sebesar 57 - 58 persen dari total penerimaan minyak dan gas bumi. Kelembagaan pengelola yang memiliki risiko fiskal paling rendah adalah berbentuk badan usaha khusus sebab pemerintah tidak menjadi pihak peserta kontrak.

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The Constitutional Court 39 s decision on the judicial review of Law Number 22 2001 has impacted to the constitutional interpretation of upstream oil and gas management in Indonesia, namely on the concept of state control and the greatest prosperity of the people. This study aims to analyze the reality and implications of the implementation of the fiscal system and management body of upstream oil and natural gas in accordance with the mandate of the constitution. This research combines qualitative and quantitative methods. The use of qualitative methods is conducted to see how the implementing of the fiscal system and management body to state revenues by descriptive analysis techniques. The use of quantitative methods is limited to compare how the composition of state revenue and contractors on the implementation of gross split and cost recovery production sharing contract with multiple regression analysis techniques.

This study concludes that the production sharing contract PSC is a fiscal system capable for translating the concept of state control and the maximum prosperity of the people as mandated by the constitution. In the implementation of the PSC cost recovery, the government gets average of 55.96 percent of total oil and gas revenues. In 2016, government revenues amounted to 38.41 percent. Based on analysis of historical data and projection of petroleum, government revenue and contractor does not differ much if using gross split PSC where the government revenue range is 41 42 percent while contractor equal to 57 58 percent of total oil and gas revenue. The organizational institution that has the lowest fiscal risk is in the form of a special business entity because the government is not a party to the contract. "

"Investasi langsung sangat diharapkan untuk menjadi sumber pembiayaan bagi defisit Neraca Transaksi Berjalan pada Neraca Pembayaran Indonesia. Salah satu penyumbang defisit Neraca Transaksi Berjalan adalah neraca perdagangan migas. Oleh karena itu, penelitian ini akan fokus pada kegiatan investasi langsung di sektor hulu migas. Penelitian akan melihat pola hubungan antara faktor regulasi terkait pembatasan biaya yang dapat ditagihkan kepada pemerintah dan faktor ekonomi yang mencakup harga dan biaya per unit terhadap investasi hulu migas. Penelitian dilakukan terhadap data mikro dari 33 perusahaan migas di Indonesia, periode data 2005-2018. Hasil empiris menunjukkan bahwa penerapan regulasi serta harga berpengaruh positif terhadap investasi hulu migas. Sementara biaya per unit berpengaruh negatif setelah implementasi dari regulasi tersebut.

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Direct investment is expected to be a source of financing for the current account deficit in Indonesia's Balance of Payments. One of the contributors to the current account deficit is the oil and gas trade balance. Therefore, this study will focus on direct investment in the upstream oil and gas sector. This study will examine the impact of implementing regulations related to restrictions on costs that can be claimed to the government and economic factors that include prices and costs per unit of oil and gas on the upstream oil and gas investment. The study was conducted using micro data from 33 oil and gas companies in Indonesia, with a data period 2005-2018. Empirical results show that the implementation of regulation as well as price have a positive correlation to upstream oil and gas investment. While cost per unit after the implementation of the regulation has a negative correlation."

"Pendahuluan Industri hulu minyak dan gas bumi adalah industri yang esensial dimana proses aktivitas di industri ini tidak dapat berhenti. Langkah-langkah pengaturan tanpa mengurangi target produksi dan pencegahan penyebaran infeksi Covid-19 di tempat kerja sudah dilakukan, namun kasus Covid-19 pada pekerja terus bertambah. Objektif Untuk mengetahui faktor-faktor yang mempengaruhi Covid-19 bergejala pada pekerja industri hulu minyak dan gas bumi di Indonesia.Metode Studi cross sectional dengan pengumpulan data sekunder dari hasil pencatatan di tempat kerja. Data dari responden yang berhasil menyelesaikan prosedur penelitian dengan mengisi kuesioner secara lengkap sejumlah 616 termasuk didalamnya adalah data demografi pekerja, area kerja, paparan Covid-19, jenis pemeriksaan dan upaya pencegahan. Uji statistik yang digunakan dalam analisis univariat dan multivariat adalah uji regresi logistik. Uji statistik yang digunakan dalam korelasi antar variabel adalah dengan menggunakan chi-square. Hasil total data responden yang didapat sebanyak 616 pekerja. 65.3 % pekerja tidak mengalami gejala dan 34.7% pekerja mengalami gejala ringan sampai berat. Didapatkan bahwa sumber penularan di tempat kerja berhubungan signifikan dengan kejadian infeksi COVID-19 yang bergejala pada pekerja KKKS (p<0,001) dengan risiko bergejala 3,4 kali lebih tinggi, sedangkan antara usia dan karakteristik infeksi bergejala (p=0,019), dimana pekerja dengan usia diatas 39 tahun memiliki 1.5 kali risiko lebih besar untuk mengalami infeksi yang bergejala dibandingkan dengan pekerja usia ≤39 tahun dan pada pekerja laki-laki didapatkan 2 kali lebih tidak beresiko untuk bergejala jika terinfeksi COVID-19 (p=0,027) dibanding perempuan. Kesimpulan faktor- faktor yang dapat meningkatkan risiko Covid-19 bergejala pada pekerja KKKS adalah sumber penularan di tempat kerja, usia pekerja yang lebih tua dan pekerja dengan jenis kelamin perempuan. Didapatkan risiko penularan tertinggi di tempat kerja adalah pada saat melakukan pekerjaan bersama, menggunakan fasilitas umum bersama dan makan bersama.

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BACKGROUND. The upstream oil and gas industry was essential to operating continuously during the covid-19 pandemic. Preventive and management guidelines had been implemented, but cases were increasing.

OBJECTIVES. To find the factors affecting symptomatic Covid-19 in Special Task Force for Upstream Oil and Gas Industry - KKKS (Kontraktor Kontrak Kerja Sama) workers in Indonesia.

METHODS A cross-sectional study was done using secondary data about covid-19 infection in SKK MIGAS and KKKS environment. Six hundred sixteen respondents were included in this study. Data about demographic characteristics, working area, covid-19 status and exposure, and examination and management before were also recorded. Univariate analysis and Multivariate analysis were done using a logistic regression test. Correlation between variables was found using chi-square.RESULTS From 616 eligible respondents 65.3% were asymptomatic, and 34.7% were symptomatic infections ranging from mild to severe symptoms. Working sites possessed a higher transmission risk as workers did the activity together. We found a correlation between a working site as a source of infection with symptomatic covid-19 (p<0.001) with a risk 3.4 times higher, age and symptomatic covid-19 (p=0.019) and female workers with symptomatic covid-19 disease (p=0.027).

CONCLUSION Some factors that increased the risk of covid-19 in KKKS workers were working site transmission, older age, and female workers. Other factors found influenced symptomatic covid-19 infection were doing the activity together, public facility usage, and eating together."

"Kegiatan usaha hulu minyak dan gas bumi pada saat berhentinya produksi yaitu saat dilakukannya tahap penutupan tambang (decommissioning) akan meninggalkan fasilitas produksi dan sarana penunjang lainnya yang telah digunakan untuk kegiatan produksi, sehingga berpotensi menjadi kendala atau membahayakan kegiatan lain di wilayahnya. Merupakan tanggung jawab Kontraktor Kerja Sama (KKS), pemerintah dan semua pihak untuk melakukan Abandonment and Site Restoration (ASR), abandonment terhadap Fasilitas Produksi dan sarana penunjang lainnya yang telah digunakan, dan site restoration terhadap wilayah kegiatan usaha pada saat berhentinya produksi. Pelaksanaan kegiatan ASR merupakan hal yang penting, karena tidak hanya menyangkut pengembalian fungsi lingkungan hidup, melainkan juga menyangkut pertanggungjawaban dan pembiayaannya, tidak adanya pengaturan yang secara tegas mengatur akan kewajiban pelaksanaan ASR menyebabkan terjadinya penolakan pembayaran dana ASR oleh Kontraktor KKS, hal ini dikhawatirkan dapat menimbulkan permasalahan di masa mendatang terutama ketika kegiatan operasi telah selesai dan ketika perusahaan minyak dan gas bumi terkait telah meninggalkan Indonesia. Penelitian ini merupakan penelitian hukum yang membahas pelaksanaan dari Kegiatan ASR sesuai dengan peraturan perundangan yang berlaku baik di dunia internasional maupun di Indonesia serta hambatan yang dilalui dalam melaksanakan kegiatan ASR. Penelitian ini merupakan penelitian hukum yang bersifat yuridis normatif dengan menggunakan data sekunder, diantaranya peraturan perundang – undangan, dan buku.

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The post operation of upstream oil and gas business activities is in the stage of decommissioning, will abandoned the production facilities and other supporting facilities that have been used for the operation activities, which might potentially be the obstacles or risking another activities in those area. Therefore, it is the responsibility of the Production Sharing Contract’ Contractor, the Government, and any interested party to conduct the Abandonment and Site Restoration (ASR). The implementation of ASR is sacrosanct, it is not only concerning on returning the environment to its pre-lease condition, but also concerning about the responsibility and the financing itself, the lack of regulation that expressly regulates about ASR causing the Contractor resistance to made the ASR’s fund, this thing might grave any problems that might occur in the future when the operation have been completed and when the company itself has left Indonesia. This research is a legal research that writes about the implementation of the abandonment and site restoration regarding its compliance to regulations related and the obstacles that might occur."

"Abandonment and Site Restoration adalah sebuah kegiatan pasca tambang berupa pelaksanaan pembongkaran instalasi produksi agar kembali kepada kondisi awal atau kondisi untuk pemanfaatan di masa depan, yang berasal dari pencadangan dana khusus yaitu dana Abandonment and Site Restoration. Sebagai suatu kesatuan, keduanya ditujukan untuk menjadi penghubung antara kepentingan ekonomi dan keberlangsungan lingkungan hidup berupa pencegahan terjadinya pencemaran pada kegiatan usaha hulu minyak dan gas bumi di Indonesia antara kontraktor dan badan pelaksana yang mewakili Negara sebagai pemilik Sumber Daya Alam yang terikat dalam suatu Kontrak. Sebagai suatu bentuk kegiatan pencegahan pencemaran lingkungan hidup, Kegiatan Abandonment and Site Restoration dapat digambarkan sebagai pelaksanaan dari Asas Pencemar Membayar Polluter Pays Principle yang secara spesifik tergolong pada instrument ekonomi. Abandonment and Site Restoration sebagai suatu kegiatan pasca tambang yang wajib di lakukan pada kontrak yang memiliki dasar hukum Undang-Undang Nomor 22 Tahun 2001 tentang Minyak dan Gas Bumi. Ketentuan Abandonment and Site Restoration tidak tertuang secara spesifik dalam kontrak yang didasari oleh Undang-Undang tentang Minyak dan Gas Bumi sebelum Undang-Undang Nomor 22 Tahun 2001. Sebagai suatu bentuk kegiatan pasca tambang yang wajib dilakukan, kontraktor bertanggung jawab untuk melaksanakan Abandonment and Site Restoration sebagai bentuk pertanggungjawaban lingkungan hidup. Maka dari itu timbul permasalahan bagi kontrak yang tidak mencadangkan Abandonment and Site Restoration, sekalipun memiliki mekanisme lain sebagaimana yang dilakukan oleh Chevron Indonesia Company yang disebut sebagai Asset Retirement Obligation yang mana memiliki bentuk yang sama sebagaimana yang diwajibkan oleh Abandonment and Site Restoration.

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Abandonment and Site Restoration is a post mining activity in the form of dismantling production installations to return to the preliminary condition or condition for future use , derived from special reserve funding ie Abandonment and Site Restoration funds. As a unity, both are intended to be a link between economic interests and environmental sustainability in the form of prevention of pollution in the upstream oil and gas business activities in Indonesia between contractors and implementing agencies representing the State as the owner of Natural Resources bound in a contract. As a form of environmental pollution prevention activities, Abandonment and Site Restoration Activities can be described as the implementation of a Polluter Pays Principle which is specifically classified as an economic instrument. Abandonment and Site Restoration as a post mining activity that must be done on a contract that has legal basis of Undang Undang Nomor 22 Tahun 2001 regarding Oil and Natural Gas. The Abandonment and Site Restoration provisions are not specified in the contracts based on the Regulation on Oil and Gas before Undang Undang Nomor 22 Tahun 2001. As a form of post mining activity that must be done, the contractor is held responsible for implementing Abandonment and Site Restoration as a form of environmental responsibility. Therefore, problems arise for contracts that do not reserve Abandonment and Site Restoration, despite having other mechanisms as performed by Chevron Indonesia Company which is referred to as the Asset Retirement Obligation which has the same form required by Abandonment and Site Restoration."

"[ABSTRAKRisiko dan ketidakpastian pasti ada dalam setiap pengambilan keputusan. Olehkarena itu, perlu dilakukan analisis keputusan untuk mengatasi hal tersebut.Banyak sekali metode analisis keputusan, seperti Metode Expected MonetaryValue (EMV), Teori Pilihan, Teori Portfolio, dan lain-lain. Namun, tidak semuadapat diaplikasikan dalam kondisi kehidupan nyata. Dalam hal risiko, industriminyak dan gas bumi (migas) adalah industri yang memiliki tingkat risiko yangtinggi, terutama dalam hal investasi. Oleh karena itu, perusahaan migasmemerlukan suatu metode analisis keputusan untuk menghadapi risiko tersebut.Hanya saja, teknik analisis keputusan yang digunakan tiap perusahaan belumtentu sama. Penelitian ini akan mencari teknik analisis keputusan yang cocokuntuk digunakan di perusahaan migas yang beroperasi di Indonesia. Teknikanalisis keputusan tersebut akan dikaji performanya dengan cara menganalisisnilai ekonomis sebuah proyek dan nanti hasilnya akan dibandingkan dengan nilaiekonomis proyek yang menggunakan teknik analisis keputusan konvensional.Hasil penelitian ini menunjukkan bahwa teknik analisis keputusan XYZ-PDEPyang digunakan oleh K3S XYZ terbukti menghasilkan nilai keekonomian proyekyang lebih baik daripada teknik analisis keputusan konvensional. Nilaikeekonomian tinggi yang dicapai dengan penggunaan teknik analisis keputusanXYZ-PDEP dibandingkan dengan menggunakan teknik analisis keputusankonvensional menyimpulkan bahwa terdapat hubungan antara penggunaan teknikpengambilan keputusan yang berbeda dengan performa yang dihasilkan.

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ABSTRACTRisk and uncertainty will always exist in every decision making. Therefore,decision analysis is needed in order to overcome those problems. There arenumerous decision analysis methods, such as Expected Monetary Value (EMV),Option Theory, Portfolio Theory, etc. Unfortunately, not all of them areapplicable in real life conditions. Concerning risks, the oil and gas industry is theone industry that has high risks, especially in investment. Therefore, oil and gascompanies need a decision analysis method to face those risks. Nonetheless,decision analysis techniques differ from one company to others. This research willfind which decision analysis technique is the most suitable one for oil and gascompanies in Indonesia. The decision analysis technique?s performance will beevaluated through one of its project?s economic value and the results are thencompared with the same project being evaluated by conventional decisionanalysis technique. The results of this research shows that XYZ-PDEP decisionanalysis technique that is used by K3S XYZ proved to produce a better projecteconomic value rather than conventional decision analysis technique. The higheconomic value that was produced by XYZ-PDEP decision analysis techniquecompared to conventional decision analysis technique concludes that there is arelation between the utilization of different decision analysis technique with eachof its performance outcome.;Risk and uncertainty will always exist in every decision making. Therefore,decision analysis is needed in order to overcome those problems. There arenumerous decision analysis methods, such as Expected Monetary Value (EMV),Option Theory, Portfolio Theory, etc. Unfortunately, not all of them areapplicable in real life conditions. Concerning risks, the oil and gas industry is theone industry that has high risks, especially in investment. Therefore, oil and gascompanies need a decision analysis method to face those risks. Nonetheless,decision analysis techniques differ from one company to others. This research willfind which decision analysis technique is the most suitable one for oil and gascompanies in Indonesia. The decision analysis technique?s performance will beevaluated through one of its project?s economic value and the results are thencompared with the same project being evaluated by conventional decisionanalysis technique. The results of this research shows that XYZ-PDEP decisionanalysis technique that is used by K3S XYZ proved to produce a better projecteconomic value rather than conventional decision analysis technique. The higheconomic value that was produced by XYZ-PDEP decision analysis techniquecompared to conventional decision analysis technique concludes that there is arelation between the utilization of different decision analysis technique with eachof its performance outcome.;Risk and uncertainty will always exist in every decision making. Therefore,decision analysis is needed in order to overcome those problems. There arenumerous decision analysis methods, such as Expected Monetary Value (EMV),Option Theory, Portfolio Theory, etc. Unfortunately, not all of them areapplicable in real life conditions. Concerning risks, the oil and gas industry is theone industry that has high risks, especially in investment. Therefore, oil and gascompanies need a decision analysis method to face those risks. Nonetheless,decision analysis techniques differ from one company to others. This research willfind which decision analysis technique is the most suitable one for oil and gascompanies in Indonesia. The decision analysis technique?s performance will beevaluated through one of its project?s economic value and the results are thencompared with the same project being evaluated by conventional decisionanalysis technique. The results of this research shows that XYZ-PDEP decisionanalysis technique that is used by K3S XYZ proved to produce a better projecteconomic value rather than conventional decision analysis technique. The higheconomic value that was produced by XYZ-PDEP decision analysis techniquecompared to conventional decision analysis technique concludes that there is arelation between the utilization of different decision analysis technique with eachof its performance outcome.;Risk and uncertainty will always exist in every decision making. Therefore,decision analysis is needed in order to overcome those problems. There arenumerous decision analysis methods, such as Expected Monetary Value (EMV),Option Theory, Portfolio Theory, etc. Unfortunately, not all of them areapplicable in real life conditions. Concerning risks, the oil and gas industry is theone industry that has high risks, especially in investment. Therefore, oil and gascompanies need a decision analysis method to face those risks. Nonetheless,decision analysis techniques differ from one company to others. This research willfind which decision analysis technique is the most suitable one for oil and gascompanies in Indonesia. The decision analysis technique?s performance will beevaluated through one of its project?s economic value and the results are thencompared with the same project being evaluated by conventional decisionanalysis technique. The results of this research shows that XYZ-PDEP decisionanalysis technique that is used by K3S XYZ proved to produce a better projecteconomic value rather than conventional decision analysis technique. The higheconomic value that was produced by XYZ-PDEP decision analysis techniquecompared to conventional decision analysis technique concludes that there is arelation between the utilization of different decision analysis technique with eachof its performance outcome., Risk and uncertainty will always exist in every decision making. Therefore,decision analysis is needed in order to overcome those problems. There arenumerous decision analysis methods, such as Expected Monetary Value (EMV),Option Theory, Portfolio Theory, etc. Unfortunately, not all of them areapplicable in real life conditions. Concerning risks, the oil and gas industry is theone industry that has high risks, especially in investment. Therefore, oil and gascompanies need a decision analysis method to face those risks. Nonetheless,decision analysis techniques differ from one company to others. This research willfind which decision analysis technique is the most suitable one for oil and gascompanies in Indonesia. The decision analysis technique’s performance will beevaluated through one of its project’s economic value and the results are thencompared with the same project being evaluated by conventional decisionanalysis technique. The results of this research shows that XYZ-PDEP decisionanalysis technique that is used by K3S XYZ proved to produce a better projecteconomic value rather than conventional decision analysis technique. The higheconomic value that was produced by XYZ-PDEP decision analysis techniquecompared to conventional decision analysis technique concludes that there is arelation between the utilization of different decision analysis technique with eachof its performance outcome.]"