"[
ABSTRAKBerdasarkan penelitian yang telah dilakukan, diperoleh hasil bahwa pelaksanaan
Hak Partisipasi/participating interest yang dilakukan oleh Daerah melalui BUMD
(Badan Usaha Milik Daerah) terdapat beberapa kelemahan yang akan
mempengaruhi posibilitas penerapan Golden Share. Beberapa kelemahan tersebut
antara lain tidak adanya pengaturan yang rigid dan jelas mengenai teknis
pelaksanaan Hak Partisipasi/participating interest, minimnya rasio kecukupan
modal pemerintah daerah dalam kewajiban penyertaan modal sebesar 10%,
rendahnya penguasaan teknologi dan kemampuan sumber daya manusia di sektor
pengusahaan hulu Migas. Posibilitas penerapan Golden Share dalam skema Hak
Partisipasi/participating interest sangat dipengaruhi oleh model pengaturan yang
diterbitkan oleh pihak otoritas dan pemenuhannya terhadap prinsip-prinsip nondiskriminasi,
non-diskresional dan proporsionalitas yang berkeadilan bagi seluruh
pihak terkait dalam industri Migas di negara yang bersangkutan. Golden Share
dalam praktiknya memungkinkan untuk diterapkan di Indonesia dengan tetap
memperhatikan aspek-aspek kelaziman bisnis agar dalam pelaksanaannya tidak
mendistrosi kebijakan operasional perusahaan.
ABSTRACTBased on the research that has been done, the result that the implementation of the
Participation Rights/participating interests carried out by the Region through ROE
(Regional Enterprise/BUMD) there are some weaknesses that will affect the
possibility application of Golden Share. Some disadvantages include the absence
of rigid and clear arrangements/regulation regarding the technical implementation
of the Participation Rights/participating interests, minimum capital adequacy ratio
of local governments in liabilities equity participation of 10%, low mastery of
technology and human resource capacity in the upstream oil and gas exploitation
sector. Golden Share for the possibility of the application of the scheme
Participation Rights / participating interest is strongly influenced by the model
regulation issued by the authorities and fulfillment of the principles of nondiscrimination,
non-discretional and proportionality equitable for all parties
involved in the oil and gas industry in the country concerned. Golden Share in
practice allows to be applied in Indonesia with regard to aspects of normal
business practices so as to not distort the implementation of operational policy of
the company., Based on the research that has been done, the result that the implementation of the
Participation Rights/participating interests carried out by the Region through ROE
(Regional Enterprise/BUMD) there are some weaknesses that will affect the
possibility application of Golden Share. Some disadvantages include the absence
of rigid and clear arrangements/regulation regarding the technical implementation
of the Participation Rights/participating interests, minimum capital adequacy ratio
of local governments in liabilities equity participation of 10%, low mastery of
technology and human resource capacity in the upstream oil and gas exploitation
sector. Golden Share for the possibility of the application of the scheme
Participation Rights / participating interest is strongly influenced by the model
regulation issued by the authorities and fulfillment of the principles of nondiscrimination,
non-discretional and proportionality equitable for all parties
involved in the oil and gas industry in the country concerned. Golden Share in
practice allows to be applied in Indonesia with regard to aspects of normal
business practices so as to not distort the implementation of operational policy of
the company.]"
