Indonesia Oil And Gas Market Analysis: Size, Growth and Forecast 2025–2033 | Get Sample Report Now

According to IMARC Group’s report titled "Indonesia Oil And Gas Market Size, Share, Trends and Forecast by Sector and Region, 2025-2033" the report offers a comprehensive analysis of the industry, including market share, growth, trends, and regional insights.

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Indonesia Oil And Gas Market Overview

The Indonesia oil and gas market size was valued at USD 747.20 Million in 2024. IMARC Group forecasts the market to reach USD 863.47 Million by 2033, exhibiting a CAGR of 1.54% during the forecast period from 2025-2033. The market growth is driven by increasing domestic demand, aging production fields, and a strategic focus on natural gas development to support cleaner energy goals. The report presents a thorough review featuring the Indonesia oil and gas market analysis, growth, share, trends, and research of the industry.

Indonesia Oil And Gas Market Key Takeaways

• Current Market Size : USD 747.20 Million in 2024

• CAGR : 1.54%

• Forecast Period : 2025-2033

• Kalimantan holds the largest market share owing to its mature fields and expanding infrastructure.

• Rising domestic energy demand driven by population and industrial growth fuels market expansion.

• Government incentives and regulatory reforms attract investments in upstream exploration and production.

• Infrastructure projects including refinery and pipeline development enhance supply efficiency.

• Emphasis on natural gas supports the shift toward cleaner energy in power generation and industry.

Indonesia Oil And Gas Market Growth Factors

• Growing domestic energy demand supported by population growth and expanding industrial activities.

• Government commitment to reducing energy imports through upstream exploration and production focus.

• Regulatory reforms and incentives encouraging foreign investments in untapped offshore and marginal fields.

• Infrastructure development such as new refineries and pipelines to improve supply efficiency.

• Strategic projects like the USD 12.5 billion oil refinery with 500,000 b/d capacity announced in March 2025.

• Expansion of LNG infrastructure and gas-fired power generation to meet cleaner energy objectives.

• Government policy support for enhanced oil recovery (EOR) and marginal field development.

• Initiatives to build petroleum storage facilities increasing energy buffer stocks to enhance energy security.

• Flexible contract offerings and improved gross split terms attracting international partnerships and investments.

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Indonesia Oil And Gas Market Trends

• Prioritization of natural gas to transition toward cleaner energy sources in power generation and industry.

• Large-scale LNG and pipeline projects underway to support increased natural gas demand.

• Investment by Bukit Asam in a USD 3.1 billion synthetic natural gas plant targeting 240 billion British thermal units per day.

• Growing domestic consumption particularly in Java and Sumatra with recalibration of export volumes.

• Government incentives and regulatory easing boosting offshore and unconventional gas project interest.

• Exploration expansion in frontier regions including eastern Indonesia, Arafura Sea, and Papua.

• Improved licensing, seismic data access, and production-sharing contracts stimulating exploration activities.

• Policy emphasis on domestic market obligation (DMO) tightening local supply mandates over exports.

• Competitive landscape shaped by environmental policies, fiscal terms, and local content rules affecting investment.

Indonesia Oil And Gas Market Key Players

• BP p.l.c.

• Chevron Corporation

• China National Offshore Oil Corporation

• ExxonMobil Corporation

• Petroliam Nasional Berhad (PETRONAS)

• PT Pertamina (Persero)

• PT. Connusa Energindo

• PT. Perusahaan Gas Negara Tbk

• Shell plc

Indonesia Oil And Gas Market Segmentation

By Sector:

• Upstream: Exploration, drilling, and production activities dominate with extensive investment focus.

• Midstream: Includes transportation, storage, and processing infrastructure developments.

• Downstream: Covers refining, distribution, and sales activities supporting energy supply.

Indonesia Oil And Gas Market Regional Insights

• Java

• Sumatra

• Kalimantan

• Sulawesi

• Others

Summary: Kalimantan is the dominant region, holding the largest share of the Indonesia oil and gas market due to its mature fields, ongoing exploration, and robust infrastructure. The market exhibits a CAGR of 1.54% during 2025-2033.

Indonesia Oil And Gas Market Recent Developments & News

• May 2025: Eni started gas production from the Merakes East field offshore Indonesia, contributing up to 100 MMSCFD or 18,000 boepd, supporting both domestic supply and LNG exports.

• May 2025: Indonesia inaugurated two offshore projects worth USD 600 Million in the South Natuna Sea operated by Medco E&P Natuna aimed at producing 20,000 barrels of oil per day.

• May 2025: JAPEX acquired 50% stake in EMP Gebang PSC block in North Sumatra focusing future gas exploration.

• May 2025: TotalEnergies planned acquisition of a 25% stake in the Bobara oil and gas block alongside Pertamina Hulu Energi.

• March 2025: Pertamina East Natuna commenced oil and gas exploration with 3D seismic data acquisition, aiming for drilling in 2026.

• December 2024: Ministry of Energy launched auctions for six new blocks with 48 Gboe of reserves and signed contracts with Harbour Energy and Mubadala Energy for Central Andaman block.

Indonesia Oil And Gas Market Key Highlights of the Report

• Comprehensive quantitative analysis of market segments, trends, and forecasts.

• Detailed insights on market drivers, challenges, and opportunities.

• Porter's Five Forces analysis evaluating industry competition and attractiveness.

• Competitive landscape profiling of major companies and market share.

• Historical and forecast data spanning 2019-2033.

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