Market Size of Indonesia Oil And Gas Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Volume (2024) | 635.23 Thousand barrels per day |
| Market Volume (2029) | 687.70 Thousand barrels per day |
| CAGR (2024 - 2029) | 1.60 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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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.
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.
Indonesia Oil And Gas Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Natural Gas Production Forecast, till 2028
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1.3 Crude Oil Production Forecast, till 2028
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1.4 Refinery Installed Capacity and Forecast, till 2028
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1.5 LNG Terminal Installed Capacity and Forecast, till 2028
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1.6 Recent Trends and Developments
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1.7 Government Policies and Regulations
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1.8 Market Dynamics
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1.8.1 Drivers
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1.8.1.1 Increasing Demand for Petroleum Products Due to the Growth of the Local Economy
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1.8.1.2 Government Initiatives to Boost the Production of Crude Oil and Natural Gas
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1.8.2 Restraints
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1.8.2.1 Increasing Adoption of Renewable Energy
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1.9 Supply Chain Analysis
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1.10 PESTLE Analysis
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2. MARKET SEGMENTATION - BY SECTOR
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2.1 Upstream
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2.2 Midstream
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2.3 Downstream
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Indonesia Oil And Gas Market Size FAQs
How big is the Indonesia Oil and Gas Market?
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.
What is the current Indonesia Oil and Gas Market size?
In 2024, the Indonesia Oil and Gas Market size is expected to reach 635.23 thousand barrels per day.
