Indonesia Oil And Gas Market Size (2024 - 2029)

The market size of the oil and gas industry in Indonesia is anticipated to experience growth over the forecast period, driven by increasing demand for petroleum products due to economic expansion and supportive government initiatives aimed at enhancing crude oil and natural gas production. Despite challenges such as crude oil price volatility and the rising adoption of renewable energy sources, Indonesia's substantial proven oil reserves and rapid economic growth are expected to create significant opportunities for market participants.

Home Market Analysis Energy & Power Research Oil and Gas Research Oil and Gas Industry in Indonesia Market Size

Market Size of Indonesia Oil And Gas Industry

Indonesia Oil And Gas Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 1.60 %

Major Players

Indonesia Oil And Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Indonesia Oil and Gas Market Analysis

The Indonesia Oil And Gas Market size in terms of production volume is expected to grow from 635.23 Thousand barrels per day in 2024 to 687.70 Thousand barrels per day by 2029, at a CAGR of 1.60% during the forecast period (2024-2029).

  • Over the medium term, factors such as increasing demand for petroleum products due to the growth of the local economy coupled with government initiatives to boost the production of crude oil and natural gas are likely to drive the market.
  • On the other hand, the high volatility of crude oil prices due to many factors and the increasing adoption of renewable energy are expected to restrain the market.
  • Nevertheless, Indonesia has one of the largest proven oil reserves among Southeast Asian countries. The country is also seeing rapid economic growth, as a result, demand for petroleum and derived petroleum products will likely shoot up in the future. Such developments will likely present significant opportunities for players involved in the market.

Indonesia Oil and Gas Industry Segmentation

Oil and natural gas markets are major industries in the energy market and play an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.

The Indonesian oil and gas market is segmented by sector into upstream, midstream, and downstream. The market sizing and forecasts have been done based on volume for all above segments.

Need A Different Region Or Segment?
Customize Now

Indonesia Oil And Gas Market Size Summary

The oil and gas industry in Indonesia is poised for growth over the forecast period, driven by increasing demand for petroleum products due to the country's economic expansion and government initiatives aimed at boosting crude oil and natural gas production. Despite challenges such as the volatility of crude oil prices and the rising adoption of renewable energy, Indonesia's substantial proven oil reserves and rapid economic development are expected to create significant opportunities for market participants. The upstream sector is anticipated to experience notable growth as the government intensifies efforts to address declining production from aging fields, with exploration activities like Pertamina's Manapatu 1x well in the Mahakam Block showcasing promising results.

Simultaneously, Indonesia is making strides in integrating renewable energy into its energy mix, aiming to reduce reliance on coal and petroleum and transition towards a greener economy. The government's ambitious targets for renewable energy adoption have spurred the development of several projects, including a significant solar park on the Riau Islands. Major energy companies, such as PT Pertamina, are also investing heavily in renewable energy initiatives. However, this shift towards renewables may pose a challenge to the traditional oil and gas market. The industry landscape is moderately consolidated, with key players like Shell, BP, and Chevron actively participating in the market, alongside local entities such as PT Pertamina.

Explore More

Indonesia Oil And Gas Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Natural Gas Production Forecast, till 2028

    3. 1.3 Crude Oil Production Forecast, till 2028

    4. 1.4 Refinery Installed Capacity and Forecast, till 2028

    5. 1.5 LNG Terminal Installed Capacity and Forecast, till 2028

    6. 1.6 Recent Trends and Developments

    7. 1.7 Government Policies and Regulations

    8. 1.8 Market Dynamics

      1. 1.8.1 Drivers

        1. 1.8.1.1 Increasing Demand for Petroleum Products Due to the Growth of the Local Economy

        2. 1.8.1.2 Government Initiatives to Boost the Production of Crude Oil and Natural Gas

      2. 1.8.2 Restraints

        1. 1.8.2.1 Increasing Adoption of Renewable Energy

    9. 1.9 Supply Chain Analysis

    10. 1.10 PESTLE Analysis

  2. 2. MARKET SEGMENTATION - BY SECTOR

    1. 2.1 Upstream

    2. 2.2 Midstream

    3. 2.3 Downstream

Indonesia Oil And Gas Market Size FAQs

The Indonesia Oil and Gas Market size is expected to reach 635.23 thousand barrels per day in 2024 and grow at a CAGR of 1.60% to reach 687.70 thousand barrels per day by 2029.

In 2024, the Indonesia Oil and Gas Market size is expected to reach 635.23 thousand barrels per day.

Indonesia Oil and Gas Market Report Snapshots

Oil and Gas Industry in Indonesia Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)